Document:

Exhibit
10.8

 

Free English Translation

 

LEASE EXECUTED AND ENTERED INTO
BY RACINE, S.A. DE C.V., HEREBY REPRESENTED BY MR. SERGIO SILBERSTEIN ZYMAN (“LESSOR”)
AND “FORESTAL, TERRANOVA MEXICO, S.A. DE C.V., HEREBY REPRESENTED BY MR.
EDUARDO ANDRES FERRETTI RODRIGUEZ (“LESSEE”) IN ACCORDANCE WITH THE FOLLOWING:

 

REPRESENTATIONS

 

1.- LESSOR REPRESENTS:

 

A)- WHEREAS LESSOR IS A COMPANY ORGANIZED IN
ACCORDANCE WITH DEED NO. 4371 NOTARIZED BY NOTARY PUBLIC NO. 60 OF AND FOR THE
FEDERAL DISTRICT, MR. FRANCISCO DE P. MORALES DIAZ, HEREBY REPRESENTED BY MR.
SERGIO SILBERSTEIN ZYMAN, MEXICAN, WITH FULL POWERS TO BIND HIMSELF IN THE
TERMS HEREOF AND HAVING HIS DOMICILE IN JUAN RECINE 112-A, COLONIA LOS MORALES,
MEXICO, DISTRITO FEDERAL.

 

B)- WHEREAS LESSOR IS THE OWNER OF THE
BUILDING LOCATED IN JUAN RACINE 112, COLONIA LOS MORALES, MEXICO, DISTRITO
FEDERAL.

 

C)- WHEREAS IT IS LESSOR’S DESIRE TO LEASE
ONLY 271.00 M2 LOCATED IN THE FIRST FLOOR, AS WELL AS FIVE PARKING SPACES OF
THE OFFICE BUILDING LOCATED IN JUAN RACINE 112, COLONIA LOS MORALES, MEXICO,
DISTRITO FEDERAL.

 

II.- LESSEE REPRESENTS:

 

A)- WHEREAS LESSEE IS A COMPANY ORGANIZED IN
ACCORDANCE WITH DEED NO. 64,899 DATED DECEMBER 17 NINETEEN NINETY-EIGHT,
NOTARIZED BY NOTARY PUBLIC NO. 103, MR. ARMANDO GALVEZ PEREZ ARAGON.

 

B)- WHEREAS MR. EDUARDO ANDRES FERRETTI
RODRIGUEZ REPRESENTS BEING THE ATTORNEY-IN-FACT OF LESSEE WITH ALL NECESSARY
POWERS TO ATTEND THE EXECUTION HEREOF IN ACCORDANCE WITH DEED NUMBER 64,899
DATED DECEMBER SEVENTEEN NINETEEN NINETY-EIGHT.

 

C)- WHEREAS LESSEE PERFECTLY KNOWS THE 271.00-M2
AREA LOCATED ON THE FIRST FLOOR, AND FIVE PARKING SPACES. THEREFORE, LESSEE IS
INTERESTED IN LEASING SAME FROM THE OFFICES IN CONDOMINIUM LOCATED IN JUAN
RACINE 112, COLONIA LOS MORALES, MEXICO, DISTRITO FEDERAL.

 

[Illegible
signature]

 

1

 

IN WITNESS WHEREOF THE PARTIES HERETO SET
FORTH THE FOLLOWING:

 

CLAUSES

 

FIRST.- PURPOSE

 

LESSOR GIVES
IN LEASE AND LESSEE RECEIVES IN LEASE THE TEMPORARY USE AND ENJOYMENT OF 271.00
M2 OF THE FIRST FLOOR AND FIVE PARKING SPACES FROM THE OFFICES IN CONDOMINIUM
LOCATED IN JUAN RACINE 112, COLONIA LOS MORALES, MEXICO, DISTRITO FEDERAL.

 

THE RENT OF
THE 271.00 M2 OF THE FIRST FLOOR, AS WELL AS THE FIVE PARKING SPACES FROM THE
OFFICES IN CONDOMINIUM LOCATED IN JUAN RACINE 112, COLONIA LOS MORALES, MEXICO,
DISTRITO FEDERAL SHALL BE AD CORPUS IN ACCORDANCE WITH THE PHYSICAL CONDITIONS
OBSERVED PRIOR TO SIGNATURE HEREOF AND WHICH SHALL BE THE RESPONSIBILITY OF
LESSEE.

 

SECOND.- TERM

 

THE LEASE TERM
IS TWO COMPULSORY YEARS FOR BOTH PARTIES. THIS TERM STARTS ON THE FIRST OF APRIL OF
THE YEAR TWO THOUSAND AND ONE AND ENDS THE THIRTY-FIRST OF MARCH OF THE
YEAR TWO THOUSAND AND THREE.

 

THE ABOVE TERM
SHALL GRANT AN OPTION FOR EXTENSION FOR AN EQUAL PERIOD, PRIOR ACQUIESCENCE BY
THE PARTIES, IF “FORESTAL TERRANOVA MEXICO, S.A. DE C.V., HEREBY REPRESENTED BY
MR. EDUARDO ANDRES FERRETTI RODRIGUEZ, SO REQUIRES.

 

THIRD.- RENT

 

LESSEE SHALL PAY LESSOR IN THE DOMICILE OF
LESSOR’S ADMINISTRATOR IN BOSQUE DE DURAZNOS 75-804, COL. BOSQUES DE LAS LOMAS,
MEXICO D.F. C.P. 11700, OR THE DOMICILE SUBSEQUENTLY APPOINTED IN WRITING BY
LESSOR, FOR MONTHLY RENT OF 271.00 M2, LOCATED ON THE FIRST FLOOR OF THE OFFICE
BUILDING IN JUAN RACINE 112, SUBJECT MATTER HEREOF, THE AMOUNT OF THIRTY-SIX THOUSAND EIGHT HUNDRED SEVENTY-SEVEN PESOS 68/100
($36,877.68) A MONTH PLUS VALUE ADDED TAX.

 

2

 

PAYMENT OF RENT SHALL BE MADE MONTHLY AND
PAYABLE IN ADVANCED INSTALLMENTS WITHIN THE FIRST TEN (10) DAYS OF THE
MONTH. RENT SHALL BE APPLICABLE EVEN IF THE PREMISES ARE OCCUPIED FOR TERMS
INFERIOR TO ONE MONTH. CONSEQUENTLY, WITHOUT PREJUDICE OF THE DATE OF VACATION
OF PREMISES BY LESSEE, RENT SHALL BE PAID FOR THE FULL MONTH.

 

IN THE EVENT OF FAILURE TO PAY MONTHLY RENT
BY LESSEE WITHIN THE TERM ABOVE, LESSEE UNDERTAKES TO PAY LESSOR A MONTHLY
INTEREST EQUAL TO THE AWC AS PUBLISHED BY BANCO DE MEXICO, PLUS 10 POINTS ON
THE AMOUNT OF ALL OVERDUE MONTHLY PAYMENTS.

 

THE MONTHLY RENT TO BE PAID BY LESSEE TO
LESSOR SHALL INCREASE ON A SEMI-ANNUAL BASIS IN ACCORDANCE WITH THE PERCENTAGE
YIELDED BY THE AMENDMENT OF THE DOMESTIC CONSUMER PRICE INDEX ISSUED BY BANCO
DE MEXICO

 

FOURTH.- VALUE ADDED TAX

 

LESSEE SHALL FULLY PAY THE VALUE ADDED TAX
ACCORDING TO THE RENT HIRED AND DESCRIBED IN CLAUSE THREE OR, OTHERWISE, THAT
REPLACING THE SAME; PROVIDED, HOWEVER, THAT SAID TAX IS IN ACCORDANCE WITH THE
LAW ON ACCOUNT OF LESSEE.

 

FIFTH.- SUBLETTING

 

THE PREMISES ARE GRANTED FOR EXCLUSIVE OFFICE
USE. LESSEE IS HEREBY EMPOWERED TO FULLY OR PARTIALLY SUBLET THE PREMISES
SUBJECT MATTER HEREOF, PRIOR APPROVAL IN WRITING BY LESSOR, THIS IN THE
INTELLIGENCE THAT THE SUBLETTING TERM SHALL NOT EXCEED THE TERM HEREOF.
FURTHERMORE, LESSEE SHALL BE RESPONSIBLE TO LESSOR AS IF LESSEE USED AND
ENJOYED THE SUBLET PROPERTY HIMSELF.

 

MOREOVER, IN EXECUTION OF THE SUBLETTING
AGREEMENT, SUBLESSEE SHALL BE BOUND UNDER THE SAME TERMS AND CONDITIONS AS
LESSEE.

 

SIXTH. – ALTERATIONS

 

IN ORDER FOR THE LEASED PREMISES TO COMPLY WITH
ALL REQUIREMENTS OF LESSEE’S OPERATIONS, LESSOR HEREBY AUTHORIZES LESSEE TO
CARRY OUT ALL ALTERATIONS, CONDITIONING AND INSTALLATIONS AS NECESSARY;
PROVIDED, HOWEVER, THAT NO VARIATIONS AFFECTING THE STRUCTURE OR FAÇADE OF THE
BUILDING - OR THE GENERAL OPERATION OF THE SAME – ARE MADE. LESSEE SHALL
FURTHER BE EMPOWERED TO REMOVE OR LEAVE THE SAME IN BENEFIT OF THE PROPERTY IF
ACCEPTED BY LESSOR UPON VACATING SAID PREMISES. IF REJECTION OF THE ABOVE,
LESSEE SHALL BE BOUND TO RETURN THE PREMISES TO THE SAME CONDITION AS RECEIVED,
EXCEPT FOR NORMAL WEAR AND TEAR. LESSOR SHALL ALSO PROVIDE CLEANING AND ALL
ELEVATORS, LOBBY, STAIR AND COMMON AREA SERVICES.

 

3

 

LESSEE SHALL HIRE AND PAY FOR – ON LESSEE’S
OWN ACCOUNT – ALL ELECTRICITY OF THE LEASED PROPERTY.

 

ALL REAL PROPERTY TAX ACCRUED BY THE LEASE
PROPERTY SHALL BE ON ACCOUNT OF LESSOR.

 

SEVENTH. – REPAIRS

 

IT IS AGREED
THAT LESSEE SHALL BE RESPONSIBLE FOR ALL REPAIRS CAUSED BY INSTALLATION WORKS
PERFORMED IN THE LEASED PREMISES AND ALL THOSE DERIVED FROM THE USE OF SAME.

 

EIGHTH. – FORCE MAJEURE

 

IN CASE OF ACT
OF GOD OR FORCE MAJEUR, LESSOR MAY RESCIND THIS AGREEMENT, WITHOUT ANY
RESPONSIBILITY WHATSOEVER.

 

NINTH .– RESCISSION

 

LESSOR IS HEREBY EMPOWERED TO RESCIND THIS
AGREEMENT UPON OCCURRENCE OF ANY OF THE FOLLOWING:

 

A)          NONCOMPLIANCE
WITH PAYMENT OF TWO AGREED-UPON CONSECUTIVE MONTHLY PAYMENTS.

 

B)            NON-AUTHORIZED
USE OF THE PREMISES.

 

C)            ALL
OTHER PROVISIONS SET FORTH BY THE LAWS APPLICABLE HERETO.

 

D)           NONCOMPLIANCE
WITH THE BOND HEREBY REQUESTED.

 

TENTH. – EARLY TERMINATION:

 

IF LESSEE SHOULD WISH TO EARLY TERMINATE THIS
LEASE, LESSEE SHALL PROVIDE NOTIFICATION IN WRITING UPON A 60-DAY (SIXTY)
NOTICE (ACKNOWLEDGMENT BY LESSOR), PAYING 
A CONTRACTUAL PENALTY EQUAL TO ONE MONTHLY RENT AT THE MOMENT OF
VACATING THE PREMISES.

 

4

 

[PAGE MISSING FROM SOURCE TEXT]

 

5

 

FOURTEENTH. – JURISDICTION:

 

FOR ALL
MATTERS ASSOCIATED WITH THE CONSTRUCTION HEREOF AND COMPLIANCE HEREWITH, THE
PARTIES EXPRESSLY SUBMIT THEMSELVES TO THE JURISDICTION OF THE COURTS OF MEXICO
CITY, FEDERAL DISTRICT. THESE COURTS SHALL HAVE THE EXCLUSIVE COMPETENCY TO
HEAR ANY TRIALS OR CLAIMS DERIVED HEREFROM. ALSO, THE PARTIES HEREBY WAIVE ANY
OTHER JURISDICTION THAT MAY CORRESPOND TO THEM BY REASON OF THEIR CURRENT
OR FUTURE DOMICILE.

 

THE PARTIES, HAVING LEARNT OF THE SCOPE,
EFFECTS AND LEGAL FORCE OF THE CONTENTS HEREOF, SIGN THE SAME AT THE MARGIN OF
EACH AND ALL PAGES, EXCEPT FOR THIS PAGE, WHERE THE PARTIES SHALL SIGN AT THE
BOTTOM. EXECUTED IN MEXICO CITY, FEDERAL DISTRICT, ON THE SECOND OF MARCH OF
THE YEAR TWO THOUSAND AND ONE.

 

	
  “LESSOR”

  	
  “LESSEE”

  
	
   

  	
   

  
	
  RACINE, S.A. DE C.V.

  	
  FORESTAL TERRANOVA MEXICO,

  
	
  TAXPAYER ID RAC-790806-K14

  	
  S.A. DE C.V.

  
	
   

  	
  TAXPAYER ID FTM 981218 7VA

  
	
   

  	
   

  
	
  [signature]

  	
  [signature]

  
	
  MR

  	
  MR

  
	
  SERGIO SILBERSTEIN ZYMAN

  	
  EDUARDO ANDRES FERRETTI
  RODRIGUEZ

  

 

6Exhibit 10.9

 

Free English Translation

 

CONTRACT FOR THE SALE, MARKETING, AND DISTRIBUTION OF
MDF MOLDING

BETWEEN

 

MASISA S.A. AND MASISA ARGENTINA S.A.

AND

TERRANOVA FOREST PRODUCTS, INC.

 

In Santiago, Chile, on July 1,
2004, they appear:

 

TERRANOVA S.A., a Chilean open stock corporation in the
forestry business (“Terranova”), [Taxpayer ID No.] 96.802.690-9, represented by
its General Manager, Mr. Gonzalo Zegers Ruiz-Tagle, and by its Auditor, Mr. Patricio
Reyes Urrutia, all domiciled at Avenida Apoquindo N° 3650, piso 10, Comuna de
Las Condes, Santiago;

 

TERRANOVA FOREST PRODUCTS,
INC., a corporation
formed under and in good standing with the laws of the United States of America
(“TFP”), represented by its General Manager, Mr. George MacConnell, both
domiciled at 2440 Clements Ferry Road, Charleston Wando, SC 29492, South
Carolina, United States of America, and, under this contract, also at Avenida
Apoquindo N° 3650, piso 10, Comuna de Las Condes, Santiago;

 

MASISA S.A., a Chilean open stock corporation in the
forestry business (“Masisa”) [Taxpayer ID No.] 92.257.000-0, represented by its
General Manager, Mr. Eduardo Vial Ruiz-Tagle, and by its Administration
and Finance Manager, Mr. Carlos Marín Olalla, all domiciled at Avenida
Apoquindo N° 3650, piso 10, Comuna de Las Condes, Santiago;

 

MASISA ARGENTINA S.A, a corporation formed under and in good standing
with the laws of Argentina, in the forestry business (“Masisa Argentina”),
represented by Eduardo Vial Ruiz-Tagle and by its Administration and Finance Manager,
Mr. Carlos Marín Olalla, all domiciled at Avenida Apoquindo N° 3650, piso
10, Comuna de Las Condes, Santiago;

 

 

All of the appearing parties
jointly will be referred to as the “Parties” and, under this contract,
Terranova and TFP are considered to be one “Party,” and Masisa and Masisa
Argentina are considered to be the other “Party.” [The Parties] agree to the
following contract for the sale, marketing, and distribution of MDF (Medium
Density Fiberboard) molding:

 

FIRST:                   WHEREAS

 

•                  Terranova is an industrial and forestry company
dedicated to the cultivation, industrialization, and sale of forest products in
several countries. For this purpose, it has, either directly or through its
subsidiaries, plantations in several countries having varieties of forest
species, industrial plants, and distribution and sales centers. Terranova has
two important lines of products: (i) solid wood products—such as sawed
wood, doors, and finger-joint molding—produced by its plants in Chile, Brazil,
and Venezuela and (ii) plywood—specifically MDF plywood and
particleboard—produced by its plywood plant in Venezuela, as well as MDF
moldings, produced by its plant in Charleston, USA. This does not take into
consideration the production of its subsidiary, Masisa S.A., or the production
of [Masisa’s] subsidiaries.

 

•                  TFP is an indirect subsidiary of Terranova that
sells and/or distributes all of the products mentioned in the previous
paragraph that Terranova sells in the U.S. market. TFP has the experience, the
infrastructure, and the appropriate know how, achieving annual sales of
approximately US$ 150,000,000 and having its own warehouses in Charleston and a
warehousing service in Houston and Baltimore. Likewise, TFP has an MDF molding
plant in Charleston with an annual capacity of approximately 30,000 cubic
meters.

 

•                  Masisa is a Chilean open stock corporation and
subsidiary of Terranova. Terranova is Masisa’s controlling shareholder, owning
52.4% of its share capital. Masisa is an industrial and forestry company
dedicated to the cultivation, industrialization, and sale of forest products in
various countries. It has, either directly or through its subsidiaries,
plantations with varieties of forest species, industrial plants, and
distribution and sales centers in several

 

2

 

countries. Masisa’s products consist of plywood and
derivative products, mainly MDF plywood and particleboard, bare or coated, and
OSB plywood. In terms of MDF molding, or simply “Molding,” in Chile Masisa has
a plant with an annual production capacity of 36,000 cubic meters, and in
Argentina, through its subsidiary, Masisa Argentina, it has plants with an
annual production capacity of 72,000 cubic meters.

 

•                  Given TFP’s know how and infrastructure for
selling and distributing molding in the United States, Masisa and Masisa
Argentina wish for TFP to sell and distribute in the United States MDF molding
that Masisa produces in Chile and Argentina, through Masisa Argentina, and/or
molding, destined for the [U.S. market], that Masisa buys from third parties.
TFP, for its part, is interested in selling and distributing Masisa’s and
Masisa Argentina’s molding in the U.S.

 

•                  For its part, TFP will charge Masisa and Masisa
Argentina a “compensation” for the sale and distribution of molding. Likewise,
TFP wishes to increase the volume of molding placed in the U.S. market.

 

•                  Because this contract involves a transaction
between related corporations, since Terranova S.A. is the parent company of
Masisa S.A., the Directors Committees of these companies favorably reported
this transaction to the Boards of Directors of the companies, in accordance
with Article 50 bis of Act No. 18,046, in connection with Article 89
of the same legislation.

 

•                  The Boards of Directors of Terranova S.A. and
Masisa S.A. have approved the execution of this contract.

 

And
in light of the mutual interest of the Parties, they have agreed to execute
this Contract for the Sale and Distribution of MDF Molding.

 

3

 

SECOND:             AGREEMENT

 

•                  Through this instrument,
Terranova and TFP, on the one hand, and Masisa and Masisa Argentina, on the
other hand, agree that Masisa and Masisa Argentina will sell and distribute
their Molding (produced by them or purchased from third parties), that they
wish to export to the United States, through TFP, under the general terms and
conditions established below. To fulfill this, the Parties will agree every
three months, according to the availability of each party, on the tentative volume
of Molding that Masisa and Masisa Argentina will sell to TFP and that TFP will
sell and distribute in the United States. Notwithstanding the above, the
volumes to which the Parties mutually agree will be those specified in each
purchase order that TFP issues to Masisa and Masisa Argentina under the general
conditions stipulated in the following clause.

 

•                  Every three months, TFP will
submit to Masisa and Masisa Argentina a marketing plan, channel strategy
definition, definition of customers and mix of products, etc. Likewise, TFP
will maintain a purchase program sufficient to keep the Masisa and Masisa
Argentina plants operating efficiently and at full capacity. Managing the
contracts of logistical service providers, TFP will also provide excellent logistical
service. TFP will continuously provide Masisa and Masisa Argentina with
relevant information about the U.S. market.

 

•                  Masisa and Masisa Argentina
will export the Molding directly to TFP under a firm purchase arrangement. The
price of each purchase will be the one TFP specifies in each purchase order.
This price will be equal to the price agreed between TFP and the final
customer, less a 3% discount and less logistical expenses [for transportation]
from the port in the United States (CIF) to the final customer. These expenses
include port fees and storage, customs costs and documents, land transportation
expenses, financing costs, discounts to the final customer, if there are any,
and, in general, the expenses associated with the merchandise

 

4

 

as
of the time it arrives in port in the United States. Every six months, TFP will
review the estimated costs and pay any balance that exists. The Parties
expressly agree that under this Contract the above discount will be the “compensation”
that TFP will receive from Masisa and Masisa Argentina for the sale and
distribution of the Molding.

 

•                  To verify the price agreed
between TFP and its final customer, Masisa and Masisa Argentina may request all
relevant information and documents from TFP, who must provide [those records].

 

THIRD:                  PURCHASE CONDITIONS

 

•                  For each purchase, TFP will
issue and send to Masisa and/or Masisa Argentina a purchase order detailing, at
least, the volume, quality, and technical specifications of the product, the
price (CFR), and the price [to be paid] by the final customer, including an
estimate of the costs from CFR port to the final customer, shipment date,
destination port, conditions of the sale, and the other conditions that
typically appear in this kind of document. The purchase order must be delivered
to Masisa and/or Masisa Argentina between 30 and 45 days prior to the shipment
date specified in the order. Masisa and/or Masisa Argentina must accept the
purchase order within 2 [days] of receiving it. If Masisa or Masisa Argentina,
respectively, does not reject the purchase order, or request its modification,
within this [2-day] period, it will be considered tacitly approved. Masisa and
Masisa Argentina may request the modification of a purchase order for
production reasons, [lack of] availability of product or ships, or for any
other cause that reasonably hinders shipment of the volumes of Molding on the
requested dates.

 

•                  Sales will be made CFR.
Nonetheless, Masisa and Masisa Argentina must reserve the ships and handle the
other administrative matters necessary to ensure that the shipments will be
made on the scheduled dates.

 

5

 

•                  TFP will have 60 days from the
invoice date to pay for the Molding. The invoice will be dated with the
shipment date and TFP must accept it within 2 [days] from the date on which the
product is received.

 

•                  TFP will make payments in U.S. dollars, through
bank transfer, to the checking account that Masisa and/or Masisa Argentina
specify.

 

FOURTH:              ACCESS TO PRODUCTS

 

•                  Masisa and Masisa Argentina declare that these
shipments will receive priority and will be shipped from the Region 8 port and
Campana/Buenos Aires, respectively. Whenever it would like, TFP will have the
right to visit the warehouses of Masisa and Masisa Argentina, who must provide
TFP with all the information it requests. [Further,] TFP may freely review all
products, and Masisa and Masisa Argentina must provide any information that TFP
requests. Prior to making such a visit, TFP must make arrangements with Masisa
and Masisa Argentina’s port manager.

 

•                  Masisa and Masisa Argentina will have the right
to review its products at their destinations. To facilitate this review, TFP
will provide all information required by Masisa and Masisa Argentina and
provide their representatives access to the sites where the products are
located, whether these be destination ports, intermediate stations, or plants
of customers of TFP.

 

FIFTH:                   CLAIMS

 

•                  For the record, the parties agree that TFP will
be the customer of Masisa and Masisa Argentina. Consequently, Masisa and Masisa
Argentina will only be responsible to TFP. Nevertheless, Masisa and Masisa
Argentina must cooperate with TFP to resolve any claim brought by a customer of
TFP. Accordingly, Masisa and Masisa Argentina must handle and respond in
writing to TFP’s claims within five business days from the date on which the
claim is

 

6

 

received.
Once the Parties reach an agreement about the claim and its amount, Masisa and
Masisa Argentina must issue a credit note to TFP for the agreed amount. The
note must be issued prior to the expiration of the 60-day term TFP has to pay
for each shipment, as stipulated in Clause Three of this instrument.

 

•                  Notwithstanding the [stipulations] in the above
paragraph, Masisa and Masisa Argentina will respond to all claims due to delays
in shipping or noncompliance with product quality [standards] or technical
specifications agreed on in the purchase order. In this regard, TFP must
demonstrate to Masisa and/or Masisa Argentina, respectively that the claim did
not result from the transportation or handling of the products after their
delivery to TFP.

 

•                  In any event, the Parties agree to make their
best efforts to resolve any possible claims that could arise and try to avoid
or minimize monetary damages.

 

SIXTH:                  REPRESENTATIVES AND ADDRESSES

 

•                  TFP designates Mr. George MacConnell as
its representative.

 

•                  Masisa designates Mr. Eduardo Vial Ruiz-Tagle
as its representative.

 

•                  Masisa Argentina designates Mr. Jaime
Valenzuela as its representative.

 

SEVENTH:            DURATION OF THE
CONTRACT

 

•                  This contract will be effective indefinitely
and the Parties will make their best efforts to maintain a stable and
long-lasting business relationship between them. Either Party may terminate
this Contract, without having to state the cause and without right to
compensation by the other Party, by sending a written notice to the other Party
at least 120 days prior to the desired termination date.

 

7

 

•                  If one of the Parties fails to comply with the
terms of this Contract, goes bankrupt, or becomes notoriously insolvent, this
Contract will terminate immediately.

 

EIGHTH:               ARBITRATION
AND APPLICABLE LAW

 

•                  Any discrepancy, difficulty, problem, or
dispute that may arise between the Parties concerning the validity,
effectiveness, interpretation, nullity, compliance, or incompliance of this
Contract will be submitted to arbitration, in accordance with the [terms of
this contract]. If a dispute arises between the Parties, either Party will have
the right to request that the matter be submitted to arbitration. The Party
that initiates the procedure must notify the other party concerning the dispute
and the Parties must try to resolve the controversy amicably, either directly
or through the participation of a third party that the parties mutually
designate. If an amicable agreement is not reached within 30 days following
notice of the controversy, either party may indicate to the other its intention
to begin arbitration, in accordance with [the terms] in this instrument.

 

•                  The arbitrator will act as a mixed arbitrator,
performing his or her role as an arbitrator but reaching a decision in law. The
arbitrator will issue one definitive decision. The Parties hereby waive the
right to bring an appeal against the arbitrator’s decision, except for a
complaint procedure. The jurisdiction for the arbitration will be Santiago,
Chile.

 

•                  The arbitrator will be designated according to
mutual agreement by the Parties. In the absence of such an agreement, at the
request of either of the Parties, the Santiago Chamber of Commerce will
designate the arbitrator, and the appointment will go to one of the members of
the arbitration list of the Chamber’s Arbitration Center. Accordingly, the
Parties hereby grant the Chamber a special and irrevocable authority to appoint
the arbitrator.

 

•                  Under this Contract, the Parties establish
domicile in the city and municipality of Santiago, where the arbitration will
occur.

 

•                  The law of Chile will apply to this Contract.

 

8

 

Three
identical, original versions of this Contract are granted, with each Party
receiving one.

 

 

	
  GONZALO ZEGERS RUIZ-TAGLE

  	
   

  	
  PATRICIO REYES URRUTIA

  
	
   

  	
  FOR TERRANOVA S.A

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GEORGE MACCONNELL

  	
   

  
	
   

  	
  FOR TERRANOVA FOREST
  PRODUCTS, INC

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  EDUARDO VIAL RUIZ-TAGLE

  	
   

  	
  CARLOS MARÍN OLALLA

  
	
   

  	
  FOR MASISA S.A.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  EDUARDO VIAL RUIZ-TAGLE

  	
   

  	
  CARLOS MARÍN OLALLA

  
	
   

  	
  FOR MASISA ARGENTINA S.A

  	
   

  
										

 

9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00093-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00093-of-00352.parquet"}]]