Document:

Exhibit 10.4

AMENDMENT TO THE INDEMNITY FOR NON-COMPETITION
AGREEMENT AND OTHER COVENANTS

 

By this private instrument:

 

I – STNE PARTICIPAÇÕES
S.A., a joint stock company enrolled with the CNPJ/ME under No. 35.767.420/0001-82, with head-office in the city of São
Paulo, State of São Paulo, at Rua Gomes de Carvalho, no 1609, 5o andar, Vila Olímpia, Zip Code (CEP) 04547-006,
herein represented in accordance with its Bylaws (“Company”); and

 

II – ALON
DAYAN, Brazilian, married, engineer, bearer of the Identity Card RG No. 8.894.140-1 SSP/SP, enrolled with the CPF/ME
under No. 014.642.468-90, resident and domiciled in the City of São Paulo, State of São Paulo, with commercial address
at Avenida Doutora Ruth Cardoso, No. 7221, Suite 701, Block A, Room 1, Edifício Birmann 21, CEP 05425-902,
an executive officer of LINX S.A., Publicly-Held Company, with head-office in the city of São Paulo, State
of São Paulo, at Avenida Doutora Ruth Cardoso, No. 7221, cj. 701, Bl. A, room 1, Edifício Birmann 21, Zip Code (CEP)
05425-902, enrolled with CNPJ/ME under No. 06.948.969/0001-75 and with its acts of incorporation duly filed with the Board
of Trade of the State of São Paulo - JUCESP under NIRE 35.300.316.584, herein represented in accordance with its Bylaws
(“Linx”) (“Alon” and, jointly with the Company, “Parties”),

 

III - STONECO LTD., company duly
incorporated and validly existing under the laws of the Cayman Islands, enrolled with the CNPJ/ME under No. 31.752.270/0001-82,
with head-office at Harbour Place, 4th floor, No. 103 Church St., PO Box 10240 KY1-1002, Georgetown, Cayman Islands,
herein represented in accordance with its acts of incorporation (“StoneCo”);

 

WHEREAS:

 

A.    On
August 11th, 2020, the Parties executed a certain Indemnity for Non-Competition Agreement and Other Covenants (“Agreement”),
with its effectiveness conditioned to the occurrence of the Closing of the Transaction;

 

B.    StoneCo
understand that the agreement of Linx Shareholders, which are the founders and key people of Linx’s management, with notable
experience in the activity sector of Linx, to enter into non-competition agreements, is an essential condition to the preservation
of their interests after the conclusion of the Transaction, in order to prevent them from competing with StoneCo, Linx and companies
of their economic group;

 

C.    According
to the understandings maintained between the Parties, the Agreement was renegotiated with the purpose of, among other amendments:
(i) amend the term of the Agreement, and, as a result of this, (ii)
renegotiate the amounts previously agreed; and

 

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D.    The Parties aim to amend and restate the Agreement, pursuant to terms herein agreed.

 

NOW, THEREFORE, the Parties have
decided to enter into this Amendment to the Indemnity for Non-Competition Agreement and Other Covenants (“Amendment”),
which shall be governed by the following terms and conditions:

 

CHAPTER I – AMENDMENT TO THE AGREEMENT

 

1.1. The Parties hereby agree to amend and
restate the Agreement, which shall be in force in the terms of Exhibit I.

 

1.2. All references in Exhibit I
to “this date”, “on this date”, “signing date” and similar terms shall be considered as the
signing date of the Agreement, i.e., August 11th, 2020.

 

1.3. This Amendment is accessory to the
Agreement and must be read and construed as if it was contained therein, for all purposes. Any disputes, controversies or litigation
shall be submitted to the dispute resolution mechanism provided for in Section 6.8 of the Agreement.

 

1.4.  The Parties and the two witnesses
execute this Amendment by electronic means, provided that the Parties hereby declare and expressly agree, for the purposes of Article
10, paragraph 2nd of the Provisional Measure (Medida Provisória) No. 2.200-2, of August 24, 2001, that their
signatures through electronic means are binding, effective and confer authenticity, integrity and legal validity to this instrument,
being this Agreement an extrajudicial executive title for all legal purposes.

 

In witness whereof, the Parties execute
this Amendment in 2 (two) counterparts of equal content and form, before the 2 (two) witnesses below.

 

São Paulo, September 1st,
2020.

 

STNE
Participações S.A.

 

	/s/ Thiago dos Santos Piau	 	/s/ Rafael Martins Pereira
	By: Thiago dos Santos Piau 

	By: Rafael Martins Pereira
	 	 	 
	 	 	 
	/s/ Alon Dayan	 	 

ALON DAYAN

 

 

StoneCo
Ltd.

 

	/s/ Thiago dos Santos Piau	 	/s/ Rafael Martins Pereira
	By: Thiago dos Santos Piau	 	By: Rafael Martins Pereira

 

Witnesses:

 

	1.	/s/ Danilo Kamiji	 	2.	/s/ Valeria Paludeti Freire
	Name:   Danilo Kamiji	 	Name:   Valeria Paludeti Freire

 

 

 

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EXHIBIT I

 

INDEMNITY FOR NON-COMPETITION AGREEMENT
AND OTHER COVENANTS

 

(as executed on August 11th,
2020 and amended on September 1st, 2020)

 

By this private instrument:

 

I – STNE PARTICIPAÇÕES
S.A., a joint stock company enrolled with the CNPJ/ME under No. 35.767.420/0001-82, with head-office in the city of São
Paulo, State of São Paulo, at Rua Gomes de Carvalho, No. 1609, 5th floor, Vila Olímpia, Zip Code (CEP) 04547-006,
herein represented in accordance with its Bylaws (“STNE” or “Company”); and

 

II – ALON
DAYAN, Brazilian, married, engineer, bearer of the Identity Card RG No. 8.894.140-1 SSP/SP, enrolled with the CPF/ME
under No. 014.642.468-90, resident and domiciled in the City of São Paulo, State of São Paulo, with commercial address
at Avenida Doutora Ruth Cardoso, No. 7221, Suite 701, Block A, Room 1, Edifício Birmann 21, CEP 05425-902,
an executive officer of LINX S.A., Publicly-Held Company, with head-office in the city of São Paulo, State
of São Paulo, at Avenida Doutora Ruth Cardoso, No. 7221, cj. 701, Bl. A, room 1, Edifício Birmann 21, Zip Code (CEP)
05425-902, enrolled with CNPJ/ME under No. 06.948.969/0001-75 and with its acts of incorporation duly filed with the Board
of Trade of the State of São Paulo - JUCESP under NIRE 35.300.316.584, herein represented in accordance with its Bylaws
(“Linx”) (“Alon” and, jointly with the Company, “Parties”),

 

III - STONECO LTD., company duly
incorporated and validly existing under the laws of the Cayman Islands, enrolled with the CNPJ/ME under No. 31.752.270/0001-82,
with head-office at Harbour Place, 4th floor, No. 103 Church St., PO Box 10240 KY1-1002, Georgetown, Cayman Islands,
herein represented in accordance with its acts of incorporation (“StoneCo”);

 

WHEREAS:

 

(i)     Linx
is part of an economic group that operates in the payment methods and corporate management software markets in Brazil;

 

(ii)    Alon
has a relevant role in Linx; and

 

(iii)   The
Parties wish to regulate the terms and conditions of the non-competition and non-solicitation obligations of Alon in relation to
STNE, StoneCo and Linx, that for the purposes of this Agreement are, jointly or individually or with their respective subsidiaries
and/or affiliated referred as “Stone Group”, as well as the companies of the economic group, and to establish,
in return, the indemnity to be paid by Stone Group on his
behalf for this purpose.

 

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NOW, THEREFORE, THE PARTIES decided
to enter into this Indemnity for Non-Competition Agreement and Other Covenants (“Agreement”), in accordance
with the following terms and conditions:

 

1.     NON
SOLICITATION

 

1.1.  Alon
undertakes to, directly or indirectly (either in his own name or in the name of any other person, enterprise, company, association
or any other entity or form of business), during the period of 5 (five) years from the closing date (“Closing”)
of the transaction provided in the Association Agreement, executed by and between Alon, StoneCo, DLP Capital LLC, DLPPAR Participações
S.A., and, as intervening parties, Linx and the Company, on August 11th, 2020 and amended on this date (“Association
Agreement”), through which they have established the terms and conditions to the business combination between Linx and
Stone Group (“Transaction”):

 

(i)    not
to solicit, entice, incite, divert, withdraw or attempt to solicit, incite, divert or withdraw any customer, supplier, distributor
or business of Stone Group or its economic group companies, nor in any way interfere in the relationship maintained between Stone
Group and its current or future customers and/or suppliers and/or distributors;

 

(ii)   not
to solicit or encourage any person to quit his job or stop providing services to Stone Group or any other company in its economic
group, whether such person is an employee or a service provider or another executive officer;

 

(iii)  not
to solicit any of Stone Group's employees or executive officers; and/or

 

(iv)  not
to start undertakings, negotiations, or any other type of understanding, as well as not to enter into final commitments and/or
agreements with an objective equivalent or similar to the business of Stone Group.

 

1.2.  Alon
declares and agrees that the restrictions and clauses set forth in this Agreement are reasonable and necessary for the protection
of the business and of the interests of Stone Group. Alon also declares that violation of any of these clauses will cause to Stone
Group serious and irreparable losses and damages.

 

1.3.  The
Parties hereby agree that the non-solicitation obligation of Alon will not apply for Mrs. Lúcia Conceição
da Cunha and Mr. Simon Menache.

 

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2.     NON-COMPETITION

 

2.1.  Alon
undertakes to, directly or indirectly (either in his own name or in the name of any other person, enterprise, company, association
or any other entity or form of business), during the period of 5 (five) years from the Closing:

 

(i)    refrain
from, directly or through any natural person or legal entity, such as, including, without limitation, any company that has an ownership
interest (is controlled by, controls or is under common control with), any employee, servant, director or administrator, as well
as their spouses and other related persons, by affinity or consanguinity, up to the second degree, as well as any company under
the control of any of these persons, it being certain that “control” has the meaning attributed to it by art. 116 of
the Brazilian Corporation Act (hereinafter referred to as “Related Parties”) to: (i.1) own, manage, operate,
advise, associate, provide services, cooperate, give information or provide documents, provide consultancy, have equity interest,
control, participate in the ownership, administration, operation or control, or be bound as a partner, shareholder, employee, director,
officer, service provider, consultant or otherwise acting in any business or organization, whether for profit or not, in any business
developed by competing companies indicated in Clause 2.4., or with its controlled, affiliated, allied and/or companies in which
Stone Group holds an interest; (i.2) own, manage, operate, advise, associate, provide services, cooperate, give information
or provide documents, provide consultancy, have equity interest, control, participate in the ownership, administration, operation
or control, or be bound as a partner, shareholder, employee, board member, director, service provider, consultant or otherwise
acting in any business or organization, whether for profit or not, which, directly or indirectly, carries out activities related
to Stone Group and/or their businesses, including, but not limited to, activities related to consultancy and risk management related
to the means of payment in general and management software segments in Brazil for the retail sector; and investments in individuals
or legal entities, operating in the segments of means of payment in general, financial services for retail, and management software
in Brazil for the retail sector; and/or

 

(ii) not establish or maintain
any business relationship with any employees and/or suppliers and/or customers and/or distributors and/or business partners and/or
consultants of Stone Group, its controlled and affiliated companies, and companies in which Stone Group holds interest, which may
adversely affect them and/or the relationships and business between Stone Group, its controlled and affiliated companies, and companies
in which Stone Group holds interest and said employees, suppliers, customers, distributors, business partners or consultants.

 

2.2. It is agreed between the
Parties, to avoid any conflict of interpretation of the previous clause, and by way of example, that Alon's non-compete obligation
also applies to companies that have as preponderant activity (i) Management and Operation of Credit Cards, Intermediation
of Payment Methods Business in general and financial
services for the sector retail, including sub-buyers, multi-buyers and gateways to the physical online world; and (ii) corporate
management software (ERP) for the retail sector, operating in any classification (ERP, CRM, SCM, etc).

 

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2.3. The
restrictions and other conditions established in this Agreement are valid and applicable only in the national territory, especially
in the places where Stone Group, or companies in which Stone Group holds interest, carry out or may come to carry out its business.

 

2.4. For
the purposes of this Agreement, a competitor of Stone Group, or of its controlled and affiliated companies those companies that
have as preponderant activity (i) Management and Operation of Credit Cards, Intermediation of Means of Payments Business
in general and financial services for the sector of retail, including sub-buyers, multi-buyers and gateways to the physical online
world; and (ii) corporate management software (ERP) for the retail sector, operating in any classification (ERP, CRM, SCM,
etc).

 

2.5.  It
is hereby agreed that the following situations are expressly permitted and will not be considered as a violation by Alon of the
non-compete obligation: (i) holding of passive minority interest, equal to up to 10% of the total share capital, in any publicly-held
companies in Brazil; (ii) investments in any discretionary investment funds that are not exclusive; (iii) election as a member
of the Board of Directors of other Brazilian companies, provided that they are not considered competitors of the Stone Group under
the terms of this agreement; and (iv) controlling Brazilian companies that are not considered competitors of the Stone Group under
the terms of this agreement.

 

3.   
INDEMNITY

 

3.1. In consideration for the
Alon's compliance with the obligations provided for in this Agreement, Stone Group will pay, on behalf of Alon, through the transfer
of 53,759 (fifty three thousand seven hundred and fifty nine) Class A shares issued by StoneCo, being provided that 1/5 of those
shares shall be transferred on the date of the 1st (first) anniversary of the Closing, 1/5 on the date of the 2nd
(second) anniversary of the Closing, 1/5 on the date of the 3rd (third) anniversary of the Closing, 1/5 on the date
of the 4th (forth) anniversary of the Closing and 1/5 on the date of the 5th (fifth) anniversary of the Closing
(“Indemnification”), being herein established that the transfer of each installment of the Indemnification shall
be conditioned to the effective fulfillment by Alon of the obligations assumed on this Agreement.

 

3.2. Stone
Group undertakes to take all applicable measures to make Stone Group to pay the Indemnification to Alon, through the transfer of
the Class A shares of StoneCo, as long as Alon is in compliance with its non-competition obligations provided herein.

 

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3.3.  The Parties hereby agrees that the number of class A shares to be issued by StoneCo and to be transferred to Alon shall be
automatically adjusted in order to reflect any transactions of share split, reverse share split, bonus shares involving the shares
issued by StoneCo.

 

3.4.  The
rights related to the payment of the Indemnification to Alon, in the context of this Agreement, shall not be affected by statement
of inability, permanent or temporary disability and/or death of Alon, being provided that Alon and/or its inheritors or successors,
as the case may be, shall be entitled to the payment of the total amount of the Indemnification not yet paid and which would be
due until the end of this Agreement, provided that this Agreement also obliges and imposes constraints to the relatives and family
members of Alon.

 

3.5.  Stone Group shall reduce the number of Class A shares to be transferred to Alon in order to proceed to the tax deductions required
by Law, provided that Alon will receive the net value of the Indemnification, after the applicable deductions.

 

4.    ACKNOWLEDGMENT OF PAYMENT

 

4.1. Alon herein acknowledges
and agrees that the transfer of StoneCo shares, under the terms of this Agreement, by Stone Group, constitute fair, adequate and
sufficient compensation for the continuous fulfillment of the terms and timeframes of this Agreement, particularly the non-solicitation
and non-competition obligations.

 

5.    DEFAULT

 

5.1.  Failure
by Alon to comply with the obligations provided for in this Agreement will give rise to payment of a compensatory fine to Stone
Group, equivalent to 100% of the total amount of the Indemnification, that has already been paid to Alon, net from taxes, without
prejudice to the losses and damages incurred and any actions Stone Group may take to cease the competing activity by Alon, except
if the infringement is resolved by Alon within 30 (thirty) days after written notice by Stone Group.

 

6.     MISCELLANEOUS

 

6.1.  This
Agreement is executed on the date hereof and it will be automatically effective through the occurrence of the closing of the Transaction.

 

6.2.  The
Parties declare that they have carefully reviewed the terms of this Agreement and that they have fully understood its content.
The Parties further declare that they have freely and voluntarily agreed to all terms and conditions set forth in this Agreement.

 

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6.3. Neither
Party may assign this Agreement or any of its rights or obligations hereunder to any third party without the prior and express
consent of the other Party.

 

6.4.  This
Agreement is binding on, benefits and will be enforceable by the Parties and their respective successors and authorized assigns.
This Agreement is entered into on an irrevocable and irreversible basis. The Parties undertake to fully comply with and enforce
all that is agreed between them in this Agreement, and, therefore, acknowledge and claim that any attitude and/or action taken
in disagreement with the provisions hereof and/or that represents a violation of the obligations assumed by the Parties in this
Agreement, shall be null and void, as regards them or any third party.

 

6.5.  If
any provision of this Agreement is declared unenforceable or invalid for any reason, the validity of the other provisions, terms
and clauses of this Agreement will not be affected.

 

6.6.  The
eventual abstention of any of the Parties from exercising the rights and privileges provided for in this Agreement will not mean
their waiver or novation, which may be invoked or exercised at any time, in compliance with the legislation in force. Any waiver
can only be challenged when granted in writing.

 

6.7.  The
Parties recognize that the duties and obligations provided for in this Agreement are subject to specific performance, under the
terms of the applicable legislation, and this agreement, executed by two witnesses, constitutes an extrajudicial execution instrument
for all purposes and effects of the applicable legislation.

 

6.8.  This
Agreement will be governed and interpreted in accordance with the laws of the Federative Republic of Brazil. Any controversies
or disputes arising from or in relation to this Agreement will be heard and settled by the court of the district of the City of
São Paulo, State of São Paulo, at the exclusion of any other, however privileged it may be.

 

6.9.  The
Parties and the two witnesses execute this Agreement through electronic means, provided that the Parties hereby declare and expressly
agrees, for the purposes of the Article 10, Paragraph 2, of the Provisional Measure (Medida Provisória) No. 2.200-2,
of August 24, 2001, that their signatures through electronic means are binding, effective, efficient and provides authenticity,
integrity and legal validity to this instrument, being this Agreement an extrajudicial executive title for all legal purposes.

 

    8Exhibit 10.5

 

São Paulo, September 1st,
2020

 

To

 

Mr. Alberto Menache

 

Ref.:   Amendment to
the Engagement Proposal of Mr. Alberto Menache to Stone Group

 

Dear Sir,

 

We make reference to
(i) the Association Agreement and Other Covenants entered into by and between Linx Shareholders, StoneCo Ltd, DLP Capital LLC,
DLPPAR Participações S.A., and, further, as intervening parties, Linx S.A. (“Linx”) and STNE Participações
S.A. (“STNE”), on August 11, 2020, by means of which the signatories agreed on the main terms and conditions
for Linx’s business combination with STNE ("Transaction"), and (ii) the offer sent by STNE to you (“Senior
Advisor”, and jointly with STNE, the “Parties”) on August 11, 2020, accepted on the same date, regarding
the engagement for the position of Senior Advisor of STNE or of any of its controlled companies, including Linx, upon closing of
the Transaction (“Controlled Companies” and, jointly with STNE, generically referred to as the “Stone
Group”).

 

1.1.     Preliminary
Considerations. Whereas (i) the material strategic role carried out by Alberto in Linx, (ii) the relevance of maintaining
the bond between Alberto and the combined business of STNE and Linx after the closing of the Transaction; and (iii) the changes
to the purpose and structure of the Engagement Proposal, notably for Alberto to be engaged as Senior Advisor of Stone Group and
no longer as Executive, no longer holding the statutory position and without any employment bond, the Parties decided that the
terms and conditions regarding your engagement by STNE shall be governed exclusively by this instrument (“New Proposal”).

 

1.2.     Amendment. The Parties, hereby, agree that the Original Proposal is amended and substituted for all legal purposes,
in its totality, by the terms of this New Proposal, which shall be effective immediately as of the closing of the Transaction,
pursuant to the terms below.

 

1.3.     Object. The Senior Advisor shall render strategic and specialized consulting services in the software segment for
the retail sector for one or more companies of the Stone Group, including during the transition period Post-Transaction, being
responsible for discussing the strategies and planning of the integration, together with the STNE board of officers, with no employment
bond or statutory position in Stone Group ("Activities").

 

1.4.     Term. The agreement with the Senior Advisor shall be effective for the term of twelve months counted as of the closing of the Transaction.
The consulting services shall be rendered four (4) days per week. The days on which the services shall be rendered shall be established
by common agreement between the Senior Advisor and the Company. The Senior Advisor shall perform his duties, as mutually agreed
with the Company. The agreement with the Senior Advisor may be extended upon mutual agreement by the Parties.

 

1.5.     Diligence.
In performing his duties, the Senior Advisor shall employ the care and diligence that every active and honest man usually
employs in the administration of his own business, exercising the powers that the law and this instrument grant to him to
achieve the purposes and interest of Stone Group.

 

1.6.     Intellectual
Property. Any object or product of an intellectual property nature that is developed, created, conceived and/or materialized
in any way, even partially, by the Senior Advisor during the performance of the Activities, shall be of exclusive property of
the Stone Group, which may use, enjoy and dispose of such intellectual
property assets freely. The payment for the permanent assignment and transfer of any intellectual property is contemplated and
included in the Senior Advisor's compensation provided for in this instrument, pursuant to item 1.7 below.

 

    1

    

    

 

1.7.     Compensation
and Benefits. Due to his performance to one or more of the Stone Group entities as of the closing of the Transaction,
the Senior Advisor will receive, during the term of his engagement and in compensation for the exercise of the Activities:

 

		1.7.1.	Compensation. As compensation for the services rendered, the Senior Advisor
shall be entitled to a fixed and gross monthly income of R$ 416,667.00 (four hundred and sixteen thousand six hundred and
sixty-seven reais).

 

		1.7.2.	Benefits. The Senior Advisor shall be entitled to benefits (fringe benefits) at least
equivalent to those currently offered to Linx’s senior management.

 

		1.7.3.	Other Benefits. The Senior Advisor will continue using his current Linx corporate
e-mail addresses. In addition, the Company will guarantee to the Senior Advisor the maintenance of his telephone line, and the
Company will transfer him the ownership of said telephone line after the termination of his/her engagement.

 

		1.7.4.	Office. The Senior Advisor shall maintain his current office for private use at Linx
Headquarters for as long as he carries out his Activities.

 

		1.7.5.	Indemnity Agreement. The Senior Advisor will be entitled to insurance and/or indemnity
agreements with the Stone Group on terms, conditions, coverage and amounts at least equivalent to those currently offered to Linx's
senior management.

 

1.8.    
Termination. In case of unjustified termination of the agreement with the Senior Advisor at the initiative of Stone
Group, understood as an uncured breach by the Senior Advisor, the Senior Advisor shall be entitled to receive the total amount
of Compensation, described in item 1.7.1, not yet paid, that would be due until the end of his agreement.

 

1.9.    
Duty of Confidentiality. By virtue of the exercise of the Activities, the Senior Advisor will have access to Confidential
Information of the Stone Group and/or of third parties with whom the Stone Group has a relationship. Accordingly, the Senior Advisor
shall be required, during the term of this agreement and for two (2) years after its termination, to keep confidential any and
all Stone Group information to which he has access. For purposes of this instrument, "Confidential Information" means
any non-public, written or oral, printed or electronic information of any nature, including technical, financial or commercial,
existing or under development, which is connected with Stone Group business, research or development, technical information and
reports, business secrets or know-how, including, without limitation, memoranda, summaries, strategic planning, trade secrets,
research, product plans or other information concerning Stone Group's products, services, business and markets, consumer and customer
lists, as well as software, improvements, inventions, processes, formulas, technologies, designs, engineering, hardware configuration
information, recruitment, maintenance and operation, marketing, finance and other business information.

 

1.10.   Non-Compete.
The Senior Advisor will be subject to a non-competition obligation, according to the Indemnity for Non-Competition Agreement and
Other Covenants signed separately between STNE and the Senior Advisor.

 

1.11.   Entire
Agreement. The Parties declare that they have carefully reviewed the terms of this document and fully understand its contents.
The Parties further declare that they have freely and voluntarily agreed to all the terms and conditions contained in this document.

 

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1.12.   Assignment.
Neither Party may assign this document or any of its rights or obligations hereunder to any third party without the prior express
consent of the other Party, except if to affiliates of controlled companies.

 

1.13.   Irrevocability
and Irreversibility. This document shall be binding and beneficial to, and enforceable by, the Parties and their respective
successors and permitted assignees. This document is irrevocable and irreversible. The Parties undertake to comply and enforce
in full all that is agreed between them in this document, and therefore acknowledge and affirm that any attitude and/or measure
taken in disagreement with that agreed between them or any third party that represents a violation of the obligations assumed by
the Parties in this document is null and void.

 

1.14.   Independence.
If any provision of this document is declared unenforceable or invalid for any reason, the validity of the other provisions, terms
and provisions of this document shall not be affected.

 

1.15.   Waiver.
Any eventual abstention of any of the Parties from the exercise of rights and privileges foreseen in this document shall not mean
a waiver or novation of them, which may be invoked or exercised at any time, in compliance with the legislation in force. Any waiver
may only be claimed when granted in writing.

 

1.16.   Specific
Performance. The Parties recognize that the duties and obligations contained in this document are subject to specific execution
in accordance with applicable law and this instrument, signed by two witnesses, constitutes an extrajudicial enforcement order
for all purposes and effects of applicable law.

 

1.17.   Governing
Laws and Jurisdiction. This document shall be governed by and interpreted in accordance with the laws of the Federative
Republic of Brazil. Any controversies or disputes arising out of or in connection with this document shall be submitted to and
resolved by the court of the City of São Paulo, State of São Paulo, to the exclusion of any other jurisdiction, however
privileged it may be.

 

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(signature page 1 of 2 of the letter
sent on September 1st, 2020 by STNE Participações S.A to Mr. Alberto Menache)

 

 

Best regards,

 

 

STNE PARTICIPAÇÕES S.A.

 

	/s/ Thiago dos Santos Piau	 	/s/ Rafael Martins Pereira
	By: Thiago dos Santos Piau

	By: Rafael Martins Pereira
	 	 	 

 

 

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(signature page 2 of 2 of the letter
sent on September 1st, 2020 by STNE Participações S.A to Mr. Alberto Menache)

 

Agreed by: 

 

 

ALBERTO MENACHE

 

 

	/s/ Alberto Menache	 	 
	

	 

 

Witnesses:

 

 

 

	/s/ Danilo Kamiji	 	/s/ Valeria Paludeti Freire
	Name: Danilo Kamiji

	Name: Valeria Paludeti Freire

 

 

 

 

    5

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