Document:

exhibit04_19.htm - Generated by SEC Publisher for SEC Filing

  

 

EXHIBIT 4.19 

Summary of Agricultural Sub Partnership Agreement

Parties: Brenco – Companhia Brasileira de Energia Renovável, as Partner Possessor, and Brasilagro – Companhia Brasileira de Propriedades Agrícolas, as Sub Partner Farmer.

Object: The assignment, by the Partner Possessor Sub Partner Farmer, possession of arable land of the properties listed in Annex I, for purposes of exploitation of the sugarcane crop.

Term:  The Agreement shall remain in force contract for each agricultural area of the properties listed in Annex I, according to the deadlines set out in Annex II. 

Participation of Parties: The participation of Partner Possessor will be each harvest, 10% (ten percent) of fruits produced and the participation of Sub Partner Farmer will each harvest, 90% (ninety percent) of fruits produced.

However, under Article 96 of Law 4,504/64, the Parties pre established the participation of Partner Possessor, as follows:

For Areas 1, 2 and 5 listed in Annex II, the partner Possessor will be entitled to receive 17.97 (seventeen point ninety-seven) tons of sugarcane per hectare of sugarcane per year for year Agreement period;

For areas 3, 4, 6, 7, 8 and 9 listed in Annex II, the partner Possessor will be entitled to receive the following amounts of tons of sugarcane per hectare, per year: (a) for the harvest 2018 / 2019, the amount of 23.53 (twenty-three point fifty three) tons of sugarcane; (b) for the 2019/2020 crop, the amount of 28.55 (twenty eight point fifty-five) tons of sugarcane; (c) for the 2020/2021 crop, the amount of 27.96 (twenty seven point ninety-six) tons of sugarcane; and (d) for other crops (before or after the time period set forth above), the amount of 17.97 (seventeen point ninety-seven) tons of sugarcane.

 

Sharing Risk: The Parties will share only the risks resulting from changes in the price of sugarcane, and the production of sugarcane is insufficient to remedy the volumes due to Partner Possessor, the Sub Partner Farmer shall indemnify Partner Possessor.

 

________________________________________________________________

BRENCO – COMPANHIA BRASILEIRA DE ENERGIA RENOVÁVEL

	

   /s/ Luiz Paulo Sant’Anna

   Agro-industrial Superintendent
	

   /s/    Celso Luiz Tavares Ferreira

   Vice Chief Operating Officer

 

 

 

 

 

  

 

 

_____________________________________________________________________

BRASILAGRO COMPANHIA BRASILEIRA DE PROPRIEDADES AGRÍCOLAS

 

	

   /s/ André Guillaumon

   Chief Operating Officer 
	

   /s/ Gustavo Javier Lopez

   Chief Administrative Officer

	

    

    

    

    

   WITNESSES: 

   /s/Ana Luisa Gomes Kós Duboc de Almeida

   /s/Ana Carolina Carpegiani

    

    
	 

 

 

 

 

  

 

ANNEX I – REAL ESTATE REGISTER

	

   Number, Real Estate, Localization,

   Register(s)
	

   Proprietary(s)
	

   Object

   (Agricultural Area)
	

   Beginning of Validity of Partnership Agricultural 

    
	

   Expiration of Validity of Partnership Agricultural 

    

	

   Enfurnado Farm, Alto Araguaia/MT, M. 1,735 RI de Alto Araguaia/MT
	

   Silvio Ramos Rodrigues
	

   409.06 ha 
	

   03/10/2012
	

   12/31/2016

	

   Terra Boa Farm, Alto Taquari/MT, M. 37 RI de Alto Taquari/MT
	

   Sebastião de Sá
	

   454.34 ha 
	

   08/20/2012
	

   12/31/2018

	

   Primavera Farm, Alto Taquari/MT, M. 1,295 RI de Alto Taquari/MT
	

   Roberta Grellet da Costa
	

   96.55 ha 
	

   09/01/2011
	

   12/30/2025

	

   Santo Antônio Farm, Alto Araguaia/MT, M. 8,156 RI de Alto Araguaia/MT
	

   Antonio Demilson de Oliveira
	

   346.92 ha 
	

   01/10/2012
	

   12/30/2026

	

   Camilana Farm, Alto Taquari/MT, M. 878 RI de Alto Taquari/MT
	

   Camila Cristina Wihelms Naumann
	

   162.6 ha 
	

   08/01/2011
	

   12/30/2018

	

   Bavia Farm, Alto Taquari/MT, M. 1,224 RI de Alto Taquari/MT
	

   Bruna e Paula Bavia
	

   319.43 ha 
	

   09/01/2011
	

   12/30/2025

	

   Rancho Alegre Farm and Girassol Farm, Alto Taquari/MT, M. 1,225 and 1.227 RI de Alto Taquari/MT 
	

   Bruna Alves Bavia
	

   197.42 ha 
	

   03/01/2011
	

   12/30/2025

	

   Santa Paula Farm and Bom Jesus Farm, Alto Taquari/MT, M. 1,226 and 494 RI de Alto Taquari/MT
	

   Paula Alves Bavia
	

   263.49 ha
	

   03/01/2011
	

   12/30/2025

	

   Fabiano Farm, Alto Taquari/MT, M. 2,405, 474, 3,961 and 1,584 RI de Alto Taquari/MT
	

   Vilson Schneider
	

   2,013.62 ha
	

   01/02/2012
	

   08/30/2028

 

 

 

  

 

ANNEX II – VALIDITY OF SUB PARTNERSHIP AGRICULTURAL

	

   Number, Real Estate, Localization,

   Register(s)
	

   Proprietary(s)
	

   Agricultural Area
	

   Beginning of Validity of Agricultural Sub Partnership 

    
	

   Expiration of Validity of Agricultural Sub Partnership 

	

   1 – Enfurnado Farm, Alto Araguaia/MT, M. 1.735 RI de Alto Araguaia/MT
	

   Silvio Ramos Rodrigues
	

    

   409.06 ha
	

    

   04/01/2019 *
	

    

   03/31/2025

	

   2 - Terra Boa Farm, Alto Taquari/MT, M. 37 RI de Alto Taquari/MT
	

   Sebastião de Sá
	

    

   454.34 ha
	

   04/01/2017 *
	

   03/31/2024

	

   3 – Primavera Farm, Alto Taquari/MT, M. 1.295 RI de Alto Taquari/MT
	

   Roberta Grellet da Costa
	

    

   96.55 ha
	

   04/01//2017 *
	

   03/31/2024

	

   4 - Santo Antônio Farm, Alto Araguaia/MT, M. 8.156 RI de Alto Araguaia/MT
	

   Antonio Demilson de Oliveira
	

    

   346.92 ha
	

    

   04/01/2016 *
	

    

   03/31/2023

	

   5 – Camilana Farm, Alto Taquari/MT, M. 878 RI de Alto Taquari/MT
	

   Camila Cristina Wihelms Naumann
	

    

   162.6 ha
	

    

   04/01/2019 *
	

    

   03/31/2026

	

   6 – Bavia Farm, Alto Taquari/MT, M. 1.224 RI de Alto Taquari/MT
	

   Bruna e Paula Bavia
	

    

   319.43 ha
	

    

   04/01/2018 *
	

    

   03/31/2025

	

   7 - Rancho Alegre Farm and Girassol Farm, Alto Taquari/MT, M. 1.225 and 1.227 RI de Alto Taquari/MT

    
	

   Bruna Alves Bavia
	

    

   197.42 ha
	

    

   04/01/2018 *
	

    

   03/31/2025

	

   8 - Santa Paula Farm and Bom Jesus Farm, Alto Taquari/MT, M. 1.226 e 494 RI de Alto Taquari/MT
	

   Paula Alves Bavia
	

    

   263.49 ha
	

    

   04/01/2017 *
	

    

   03/31/2024

	

   9 – Fabiano Farm, Alto Taquari/MT, M. 2,405, 474, 3,961 and 1,584 RI de Alto Taquari/MT
	

    

   Vilson Schneider
	

    

   2,013.62 ha
	

   04/01/2019 *
	

   03/31/2024exhibit04_20.htm - Generated by SEC Publisher for SEC Filing

  

 

EXHIBIT 4.20 

Summary of Sugarcane Purchase and Sale Agreement

 

Parties: Brenco – Companhia Brasileira de Energia Renovável, as Purchaser, and Brasilagro – Companhia Brasileira de Propriedades Agrícolas, as Seller.

Purpose: Purchase and Sale of the sugarcane owned by the Seller by virtue of the agricultural sub partnership agreement and/or the instrument for regulation of rights and obligations between farmer partners.

Duration: The Agreement shall remain in force until the end of crop 2025/2026.

Final price: The price that the seller will receive by the sugar cane sell will be determined at the end of the respective crop year, based on the formula: PF = QC x QATR x VATR 

Wherein:

PF: means the price, in reais, that the buyer will pay to the seller on each crop year 

QC: means the total volume of sugar cane delivered to the seller on each crop year, measured in tons

QATR: means the weighted average number of TOTAL RECOVERABLE SUGAR CONTENT (ATR) measured in kilograms, extracted in a ton of sugar cane under the harvest

VATR: means the fixed value and/or payment based on the Regulation for the Business of Purchase and Sale of Sugarcane in the State of São Paulo (CONSECANA-SP) in the Plant Mix.

 

____________________________________________________________________

BRENCO – COMPANHIA BRASILEIRA DE ENERGIA RENOVÁVEL

	

   /s/ Luiz Paulo Sant’Anna

   Agro-industrial Superintendent
	

   /s/    Celso Luiz Tavares Ferreira

   Vice Chief Operating Officer

 

_____________________________________________________________________

BRASILAGRO COMPANHIA BRASILEIRA DE PROPRIEDADES AGRÍCOLAS

	

   /s/ André Guillaumon

   Chief Operating Officer 
	

   /s/ Gustavo Javier Lopez

   Chief Administrative Officer

	

    

    

    

    

   WITNESSES: 

   /s/Ana Luisa Gomes Kós Duboc de Almeida

   /s/Ana Carolina CarpegianiEX-10.1

 Exhibit 10.1 

AMENDMENT NO. 3 
 TO THE

 WEBSTER BANK SUPPLEMENTAL 

DEFINED BENEFIT PLAN FOR EXECUTIVE OFFICERS 

The Webster Bank Supplemental Defined Benefit Plan for Executive Officers (formerly known as the Supplemental Retirement Plan for Employees of
Webster Bank), as amended and restated on October 22, 2007 effective as of January 1, 2005, is hereby amended as follows: 
 (1)
Effective as of the date of adoption of this Amendment No. 3, Section 3.5(b) of the Plan is deleted and the following is substituted in lieu thereof: 

(b) (i) If a Participant dies prior to commencing to receive a Supplemental Retirement Income described in Section 3.1(a) or
Section 3.1(b) and the Participant is married on his or her date of death, then the surviving Spouse of the Participant shall be entitled to receive a survivor’s benefit equal to the following: 

(A) Effective on and after the first anniversary of the date of adoption of Amendment No. 3 to the Plan, if the
Participant was an Employee of the Bank, the Corporation or an Affiliate on the date of adoption of Amendment No. 3 to the Plan, then the surviving Spouse of the Participant shall be entitled to receive a lump sum distribution equal to the
actuarial equivalent present value of the Participant’s Supplemental Retirement Income. 
 (B) Effective prior to the
first anniversary of the date of adoption of Amendment No. 3 to the Plan, if the Participant was an Employee of the Bank, the Corporation or an Affiliate on the date of adoption of Amendment No. 3 to the Plan, then the surviving Spouse of
the Participant shall be entitled to receive an annuity for the lifetime of the surviving Spouse. The amount of the surviving Spouse’s annuity shall equal the benefit that the surviving Spouse would have received if the Participant had survived
until the later of the Participant’s date of death or the date on which the Participant would have reached age fifty-five (55), the Participant had commenced to receive on such date his or her Supplemental Retirement Income in the form of a
100/50 joint and survivor annuity with his or her Spouse as the joint annuitant, and the Participant had died immediately thereafter. 

(C) Effective on and after the date of adoption of Amendment No. 3 to the Plan, if the Participant was not an Employee of
the Bank, the Corporation or an Affiliate on the date of adoption of Amendment No. 3 to the Plan, then the surviving Spouse of the Participant shall be entitled to receive an annuity for the lifetime of the surviving Spouse. The amount of the
surviving Spouse’s annuity shall equal the benefit that the surviving Spouse would have received if the 

 
Participant had survived until the later of the Participant’s date of death or the date on which the Participant would have reached age fifty-five (55), the Participant had commenced to
receive on such date his or her Supplemental Retirement Income in the form of a 100/50 joint and survivor annuity with his or her Spouse as the joint annuitant, and the Participant had died immediately thereafter. 

(ii) If a Participant dies prior to commencing to receive a Supplemental Retirement Income described in Section 3.1(a) or
Section 3.1(b), the Participant is married on his or her date of death, the Participant dies while in the service of the Bank, the Corporation or an Affiliate, and the Participant completed ten or more years of vesting service (as defined under
the terms of the Pension Plan in effect on January 1, 2005) by his or her date of death, then the surviving Spouse of the Participant shall be entitled to receive a survivor’s benefit equal to the following: 

(A) Effective on and after the first anniversary of the date of adoption of Amendment No. 3 to the Plan, if the
Participant was an Employee of the Bank, the Corporation or an Affiliate on the date of adoption of Amendment No. 3 to the Plan, then the surviving Spouse of the Participant shall be entitled to receive a lump sum distribution equal to the
actuarial equivalent present value of the Participant’s Supplemental Retirement Income. 
 (B) Effective prior to the
first anniversary of the date of adoption of Amendment No. 3 to the Plan, if the Participant was an Employee of the Bank, the Corporation or an Affiliate on the date of adoption of Amendment No. 3 to the Plan, then the surviving Spouse of
the Participant shall be entitled to receive an annuity for the lifetime of the surviving Spouse. The amount of the surviving Spouse’s annuity shall equal the benefit that the surviving Spouse would have received if the Participant had survived
until the later of the Participant’s date of death or the date on which the Participant would have reached age fifty-five (55), the Participant had commenced to receive on such date his or her Supplemental Retirement Income in the form of a
100/50 joint and survivor annuity with his or her Spouse as the joint annuitant, and the Participant had died immediately thereafter. 

(C) Effective on and after the date of adoption of Amendment No. 3 to the Plan, if the Participant was not an Employee of
the Bank, the Corporation or an Affiliate on the date of adoption of Amendment No. 3 to the Plan, then the surviving Spouse of the Participant shall be entitled to receive an annuity for the lifetime of the surviving Spouse. The amount of the
surviving Spouse’s annuity shall equal the benefit that the surviving Spouse would have received if the Participant had survived until the later of the Participant’s date of death or the date on which the Participant would have reached age
fifty-five (55), the Participant had commenced to receive on such date his or her Supplemental Retirement Income in the form of a 100/50 joint and survivor annuity with his or her Spouse as the joint annuitant, and the Participant had died
immediately thereafter. 

  
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 The survivor’s benefit described in subsection (b)(ii)(B) and subsection
(b)(ii)(C) shall be payable for the lifetime of the surviving Spouse; provided, however, if the surviving Spouse dies prior to the receipt of one-hundred twenty (120) monthly payments, the remainder of the one hundred twenty
(120) monthly payments shall be paid to the beneficiaries designated by the surviving Spouse (or, if the surviving Spouse fails to designate a beneficiary or no such beneficiary survives the Spouse, to the Participant’s estate). If the
surviving Spouse dies after the Participant but before commencing to receive the survivor’s benefit, the survivor’s benefit will be deemed to have commenced immediately prior to the Spouse’s death. In determining the amount of the
survivor’s benefit, the amount of the 100/50 joint and survivor annuity will not be actuarially adjusted to reflect the one hundred twenty (120) month minimum payment period. 

(iii) If a Participant dies prior to commencing to receive a Supplemental Retirement Income described in Section 3.1(a) or
Section 3.1(b), the Participant is not married on his or her date of death, the Participant dies while in the service of the Bank, the Corporation or an Affiliate, the Participant has reached age fifty-five (55) by his or her date of
death, and the Participant has completed five years of vesting service (as defined under the terms of the Pension Plan in effect on January 1, 2005) by his or her date of death, then the Beneficiary of the Participant shall be entitled to
receive a survivor’s benefit equal to the following: 
 (A) Effective on and after the first anniversary of the date of
adoption of Amendment No. 3 to the Plan, if the Participant was an Employee of the Bank, the Corporation or an Affiliate on the date of adoption of Amendment No. 3 to the Plan, then the Beneficiary of the Participant shall be entitled to
receive a lump sum distribution equal to the actuarial equivalent present value of the Participant’s Supplemental Retirement Income. 

(B) Effective prior to the first anniversary of the date of adoption of Amendment No. 3 to the Plan, if the Participant
was an Employee of the Bank, the Corporation or an Affiliate on the date of adoption of Amendment No. 3 to the Plan, then the Beneficiary of the Participant shall be entitled to receive a survivor’s benefit payable for one hundred twenty
(120) months. The amount of the survivor’s benefit shall equal the amount of the benefit that a surviving spouse of the Participant would have received if the Participant had been married on his or her date of death to a spouse who was the
same age as the Participant, the Participant had commenced to receive on his or her date of death his or her Supplemental Retirement Income in the form of a 100/50 joint and survivor annuity with such spouse as the joint annuitant, and the
Participant had died immediately thereafter. 
 (C) Effective on and after the date of adoption of Amendment No. 3 to
the Plan, if the Participant was not an Employee of the Bank, the Corporation or 

  
 - 3 - 

 
an Affiliate on the date of adoption of Amendment No. 3 to the Plan, then the Beneficiary of the Participant shall be entitled to receive a survivor’s benefit payable for one hundred
twenty (120) months. The amount of the survivor’s benefit shall equal the amount of the benefit that a surviving spouse of the Participant would have received if the Participant had been married on his or her date of death to a spouse who
was the same age as the Participant, the Participant had commenced to receive on his or her date of death his or her Supplemental Retirement Income in the form of a 100/50 joint and survivor annuity with such spouse as the joint annuitant, and the
Participant had died immediately thereafter. 
 (iv) The amount of the benefit payable to the Participant’s surviving
Spouse or Beneficiary under this subsection (b) shall be calculated in the same manner and by applying the same actuarial factors as the corresponding survivor’s benefit is calculated under the Pension Plan. 

(2) Effective as of the date of adoption of this Amendment No. 3 to the Plan, Section 3.5(c) of the Plan is deleted and the
following is substituted in lieu thereof: 
 (c) If a Participant dies after commencing to receive a Supplemental Retirement Income
described in Section 3.1(a) or Section 3.1(b), the survivor’s benefit (if any) payable to the Participant’s surviving Spouse or Beneficiary shall commence on the first day of the month coinciding with or next following the date
of the Participant’s death, and shall cease on the date required by the terms of the annuity. A survivor’s benefit shall in no event be payable after the death of a Participant who was receiving his or her Supplemental Retirement Income in
the form of a single life annuity or who received a lump sum distribution of the actuarial equivalent present value of his or her Supplemental Retirement Income. 

If a Participant dies prior to commencing to receive a Supplemental Retirement Income described in Section 3.1(a) or Section 3.1(b)
and the Participant is married on his or her date of death, then: 
 (i) if a lump sum benefit is payable under subsection
(b)(i)(A) or subsection (b)(ii)(A) to the surviving Spouse of the Participant, then such lump sum distribution shall be paid on the first day of the month next following the date of the Participant’s death; and 

(ii) if an annuity is payable under subsection (b)(i)(B), subsection (b)(i)(C), subsection (b)(ii)(B) or subsection (b)(ii)(C)
to the surviving Spouse of the Participant, then such annuity shall commence to be paid on the first day of the month coinciding with or next following the later of the date of the Participant’s death or the date on which the Participant would
have reached age fifty-five (55), and shall cease on the date of the surviving Spouse’s death (unless the survivor’s benefit is payable for at least one hundred twenty (120) months and the surviving Spouse dies prior to the receipt of
one hundred twenty (120) monthly payments). 

  
 - 4 - 

 If a Participant dies prior to commencing to receive a Supplemental Retirement Income described
in Section 3.1(a) or Section 3.1(b) and the Participant is not married on his or her date of death, then: 
 (i) if
a lump sum benefit is payable under subsection (b)(iii)(A) to the Beneficiary of the Participant, then such lump sum distribution shall be paid on the first day of the month next following the date of the Participant’s death; and 

(ii) if a survivor’s benefit is payable under subsection (b)(iii)(B) or subsection (b)(iii)(C) for one hundred twenty
(120) months to the Beneficiary of the Participant, then such survivor’s benefit shall commence on the first day of the month coinciding with or next following the Participant’s death, and shall cease after the Beneficiary’s
receipt of one hundred twenty (120) monthly payments. 
 (3) All section numbers and cross references thereto are appropriately amended
to effectuate the intention of the foregoing amendments. 
 Dated this 27th day of October, 2015. 

 

							
	Witness:	 		 	WEBSTER BANK
				
	 /s/ Bernard Garrigues
	 		 	By	 	 /s/ James C. Smith

		 		 		 	Its Chairman & CEO

  
 - 5 -

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