Document:

Document

    

Compass Offer Letter
 October 24, 2022
Dear Kalani,
We are pleased to offer you a full-time position as Chief Financial Officer at Compass, Inc. (the “Company”), which will be in accordance with the terms of this letter agreement. Your start date shall be on November 15, 2022. The date that you actually start to work is defined as the “Start Date”.

1.Cash Compensation. In this position, the Company will pay you an annual base salary payable in accordance with the Company’s standard payroll schedule, which amount will initially be $450,000 per year. Your pay will be periodically reviewed as a part of the Company’s regular reviews of compensation.
You will be eligible to receive a cash bonus (the “Cash Bonus”) for each calendar year that you are employed by the Company in an amount to be determined by the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) under the terms of the Company’s Executive Bonus Plan as in effect during the applicable calendar year. The Cash Bonus, if earned, will be paid within 75 days after the end of the applicable calendar year. You must be employed in good standing with the Company on any applicable scheduled payment date in order to receive the Cash Bonus. For the 2022 calendar year, you will be eligible to receive a cash bonus (the “2022 Cash Bonus”) in an amount of up to $200,000, as determined by the Compensation Committee, provided that you achieve the relevant agreed upon objectives and key results for 2022. The 2022 Cash Bonus will be prorated for the portion of the calendar year during which you are employed by the Company and will be payable by March 15, 2023.

2.Equity Award. You will be eligible to receive a one-time award of restricted stock units (“RSU Award”) representing the right to receive 1,600,000 shares of the Company’s Class A common stock under the Company’s 2021 Equity Incentive Plan. The award shall be subject to your employment with the Company on the Grant Date, as well as:
(1)formal approval by the Compensation Committee;
(2)a separate restricted stock unit award agreement on the Company’s standard form consistent with the terms contained herein; and
(3)a time-based vesting requirement (the vesting will commence on the Vesting Commencement Date (as defined below) and will be satisfied as to (a) 1/4th of the RSU Award on the first anniversary of the Vesting Commencement Date, subject to your continuous employment with the Company on the vesting date, and (b) 1/16th of the RSU Award quarterly thereafter over the next three years, subject to your continuous employment with the Company on each applicable vesting date.

3.Additional Equity Award.  You will be eligible to receive an additional one-time award of restricted stock units (the “Additional RSU Award”) representing the right to receive 80,000 shares of the Company’s Class A common stock under the Company’s 2021 Equity Incentive Plan. The Additional RSU Award shall be subject to your employment with the Company on the Grant Date, as well as:

(1)formal approval by the Compensation Committee;
(2)a separate restricted stock unit award agreement on the Company’s standard form consistent with the terms contained herein; and
(3)a time-based vesting requirement (the vesting will commence on the Vesting Commencement Date and  will be satisfied as to 1/4th of the Additional RSU Award quarterly over one year, subject to your continuous employment with the Company on each applicable vesting date.
 
4.Additional Equity Terms. For purposes of the Section 3 and 4 above: 

(1)“NYSE” means the New York Stock Exchange;

(2)the “Grant Date” means the date on which the RSU Award and/or the Additional RSU Award, as applicable, is approved by the Compensation Committee, in accordance with the Company’s equity award granting policies effective on the Grant Date.  The Grant Date for the RSU Award and the 

Additional RSU Award is anticipated to be (i) on or around November 28, 2022 so long as you commence your employment by October 31, 2022 or (ii) on or around December 26, 2022 so long as you commence your employment by November 30, 2022; and

(3)the “Vesting Commencement Date” means:  for the RSU Award and the Additional RSU Award, the 15th of the month in which the Start Date occurs.

5.Employee Benefits. You will be eligible to participate in a number of Company-sponsored benefits to the extent that you comply with the eligibility requirements of each such benefit plan. The Company, in its sole discretion, may amend, suspend or terminate its employee benefits at any time, with or without notice. In addition, you will be entitled to paid vacation in accordance with the Company’s vacation policy, as in effect from time to time.

6.Termination Benefits. You will be eligible to receive change in control and severance payments and benefits under the Change in Control and Severance Agreement (the “Severance Agreement”), a form of which is attached to this letter agreement as Exhibit A.

7.Confidentiality Agreement. As a condition of your employment, you must sign the Employee Proprietary Information, Inventions, and Arbitration Agreement, a form of which is attached to this letter agreement as Exhibit B.

8.No Conflicting Obligations. You understand and agree that by signing this letter agreement, you represent to the Company that your performance will not breach any other agreement to which you are a party and that you have not, and will not during the term of your employment with the Company, enter into any oral or written agreement in conflict with any of the provisions of this letter or the Company’s policies. You are not to bring with you to the Company, or use or disclose to any person associated with the Company, any confidential or proprietary information belonging to any former employer or other person or entity with respect to which you owe an obligation of confidentiality under any agreement or otherwise. The Company does not need and will not use such information and we will assist you in any way possible to preserve and protect the confidentiality of proprietary information belonging to third parties. Also, we expect you to abide by any obligations to refrain from soliciting any person employed by or otherwise associated with any former employer and suggest that you refrain from having any contact with such persons until such time as any non-solicitation obligation expires.

9.Outside Activities. While you render services to the Company, you agree that you will not engage in any other employment, consulting or other business activity without the written consent of the Company. In addition, while you render services to the Company, you will not assist any person or entity in competing with the Company, in preparing to compete with the Company or in hiring any employees or consultants of the Company.

10.Equal Employment Opportunity. The Company is an equal opportunity employer and conducts its employment practices based on business needs and in a manner that treats employees and applicants on the basis of merit and experience. The Company prohibits unlawful discrimination on the basis of race, color, religion, sex, pregnancy, national origin, citizenship, ancestry, age, physical or mental disability, veteran status, marital status, domestic partner status, sexual orientation, or any other consideration made unlawful by federal, state or local laws.

11.General Obligations. As an employee, you will be expected to continue to adhere to the Company’s standards of professionalism, loyalty, integrity, honesty, reliability and respect for all. You will also be expected to continue to comply with the Company’s policies and procedures. The Company is an equal opportunity employer.

12.At-Will Employment. Your employment with the Company continues to be for no specific period of time. Your employment with the Company will continue to be on an “at will” basis, meaning that either you or the Company may terminate your employment at any time for any reason or no reason. The Company also reserves the right to modify or amend the terms of your employment at any time for any reason. 

Any contrary representations which may have been made to you are superseded by this letter agreement. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and the Company’s Board of Directors.

13.Withholdings. All forms of compensation paid to you as an employee of the Company shall be less all applicable withholdings.

14.Work from Office.  You will be required to work from one of the Company’s office locations 5 days a week except for business travel, company holidays and occasional personal days.

This letter agreement supersedes and replaces any prior understandings or agreements, whether oral, written or implied, between you and the Company regarding the matters described in this letter (other than the Severance Agreement). This letter will be governed by the laws of New York, without regard to its conflict of laws provisions.

Very truly yours,
COMPASS MANAGEMENT HOLDINGS, LLC 

/s/ Robert Reffkin     
By: Robert Reffkin
Founder & CEO
 

ACCEPTED AND AGREED:

/s/ Kalani Reelitz    
Kalani Reelitz

Date: October 24, 2022

Exhibit A
Form of the Change in Control and Severance Agreement 

Exhibit B

Form of the Employee Proprietary Information, Inventions, and Arbitration Agreementabc_ex417.htm

  
 EXHIBIT 4.7
  
 TRADUCCIÓN PÚBLICA
 SWORN TRANSLATION
  
 [All the pages of the original document are initialed at the bottom.]
  
 FOURTEENTH AGREEMENT FOR THE IMPLEMENTATION OF
 AMENDMENTS
 TO THE CORPORATE SERVICES MASTER AGREEMENT
  
 Agreement made in the Autonomous City of Buenos Aires on the 12th day of July of 2022 by and between:
  
 (i) CRESUD S.A.C.I.F. y A., domiciled at Della Paolera 261, 9th Floor, Autonomous City of Buenos Aires, represented hereat by the undersigned attorneys-in-fact (hereinafter “CRESUD”), party of the first part;
  
 (ii) IRSA Inversiones y Representaciones Sociedad Anónima, domiciled at Della Paolera 261, 9th Floor, Autonomous City of Buenos Aires, acting on its behalf and on behalf of IRSA Propiedades Comerciales S.A. (IRSA PC), as merger administrator, represented hereat by the undersigned attorneys-in-fact, party of the second part (hereinafter “IRSA” and collectively with CRESUD referred to as “THE PARTIES”).
  
 WHEREAS:
  
 (i) On June 30, 2004 CRESUD, IRSA and IRSA PC (hereinafter referred to as “THE ORIGINAL PARTIES” executed a Master Agreement for the Exchange of Corporate Services (hereinafter “the Master Agreement”);
  
 (ii) On August 23, 2007 THE ORIGINAL PARTIES executed the First Agreement for the Implementation of Amendments to the Corporate Services Master Agreement (hereinafter the “First Agreement”), whereby certain amendments were introduced to the Areas of Exchange of Corporate Services and the Cost Distribution Bases, and new Individually Responsible Persons were appointed;(iii) On August 14, 2008 and November 27, 2009, THE ORIGINAL PARTIES executed the Second Agreement for the Implementation of Amendments to the Corporate Services Master Agreement (hereinafter the "Second Agreement”) and the Third Agreement for the Implementation of Amendments to the Corporate Services Master Agreement (hereinafter the “Third Agreement”), respectively, whereby new amendments were introduced to the Areas of Exchange of Corporate Services and the Cost Distribution Bases;
  
 (iv) On March 12, 2010, THE ORIGINAL PARTIES executed an Addendum to the Master Agreement for the Exchange of Corporate Services (hereinafter the “Addendum”) whereby THE ORIGINAL PARTIES agreed to unify in CRESUD the services of the Areas of Exchange of Corporate Services, for which purposes the employment agreements of most of the employees of such areas were transferred and the procedure to allocate the costs of potential labor expenses arising from departure of employees was established;
  
 	 
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 (v) On July 11, 2011, THE ORIGINAL PARTIES executed the Fourth Agreement for the Implementation of Amendments to the Corporate Services Master Agreement (hereinafter the "Fourth Agreement”); on October 15, 2012, THE ORIGINAL PARTIES executed the Fifth Agreement for the Implementation of Amendments to the Corporate Services Master Agreement (hereinafter the "Fifth Agreement"); on November 12, 2013, THE ORIGINAL PARTIES executed the Sixth Agreement for the Implementation of Amendments to the Corporate Services Master Agreement (hereinafter the “Sixth Agreement”); and on February 18, 2015, THE ORIGINAL PARTIES executed the Seventh Agreement for the Implementation of Amendments to the Corporate Services Master Agreement (hereinafter the “Seventh Agreement” and together with the First Agreement, the Second Agreement, the Third Agreement, the Fourth Agreement, the Fifth Agreement and the Sixth Agreement, the “Agreements”), whereby new amendments were introduced to the Areas of Exchange of Corporate Services and the Cost Distribution Bases;
  
 (vi) Pursuant to the structuring process of a new organizational model of division of areas by business, an agreement was reached to transfer to IRSA and/or IRSAPC the employment agreements of those employees who render services related to the Technical, Infrastructure and Services, Purchases, Architecture and Design and Works Development Area, Real Estate Business Management, Real Estate Business Human Resources, Safety and Real Estate Areas, all of them related to the real estate business. On February 24, 2014 THE ORIGINAL PARTIES executed a Second Addendum to the Master Agreement for the Exchange of Corporate Services (hereinafter the “Second Addendum”) whereby the mechanisms to be used for the allocation of the costs of potential labor expenses that such process would involve were established.
  
 (vii) On November 12, 2015, THE ORIGINAL PARTIES executed the Eighth Agreement for the Implementation of Amendments to the Corporate Services Master Agreement (hereinafter the “Eighth Agreement”)
  
 (viii) On May 5, 2017, THE ORIGINAL PARTIES executed the Ninth Agreement for the Implementation of Amendments to the Corporate Services Master Agreement (hereinafter the “Ninth Agreement”).  
  
 (ix) On June 29, 2018, THE ORIGINAL PARTIES executed the Tenth Agreement for the Implementation of Amendments to the Corporate Services Master Agreement (hereinafter the “Tenth Agreement”).  
  
 (x) On June 28, 2019, THE ORIGINAL PARTIES executed the Eleventh Agreement for the Implementation of Amendments to the Corporate Services Master Agreement (hereinafter the “Eleventh Agreement”).         
  
 (xi) On June 30, 2020, THE ORIGINAL PARTIES executed the Twelfth Agreement for the Implementation of Amendments to the Corporate Services Master Agreement (hereinafter the “Twelfth Agreement”).           
  
 (xii) On June 30, 2021, THE ORIGINAL PARTIES executed the Thirteenth Agreement for Implementation of Amendments to the Corporate Services Master Agreement (hereinafter the “Thirteenth Agreement”).       
  
 	 
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 (xiii) On September 30, 2021 IRSA and IRSA PC executed a preliminary merger agreement whereby they initiated a merger process between both companies. In such process, IRSA would be the merging company and IRSA PC would be merged company, which would be dissolved without liquidation. Subsequently, on December 22, 2021, IRSA and IRSA PC held their respective shareholders’ meetings resolving the final approval of the merger. Subsequently, on January 27, 2022 both companies executed the final merger agreement (the “FMA”) giving effect to the corporate reorganization process above mentioned. 
  
 (xiv) Therefore, starting on January 1, 2022 IRSA, as merging company of IRSA PC, became the surviving company assuming all rights and obligations of IRSA PC under the Master Agreement, its addenda and amendments.       
  
 (xv) First THE ORIGINAL PARTIES and then the PARTIES have been performing the Master Agreement based on an Implementation Manual originally drafted by Deloitte & Co. S.R.L., updated in due time;   
  
 (xvi) In accordance with the recommendations made in due course by Deloitte on its reports and currently by external auditors, new operational changes have been implemented in the Areas of Exchange of Corporate Services and the Cost Distribution Bases throughout year 2021, which THE PARTIES wish to acknowledge in writing;   
  
 (xvii) THE PARTIES have disclosed the content of this FOURTEENTH AGREEMENT FOR THE IMPLEMENTATION OF AMENDMENTS TO THE CORPORATE SERVICES MASTER AGREEMENT (hereinafter the “Fourteenth Agreement”) to their respective Audit Committees; and     
  
 (xviii) THE PARTIES execute this Fourteenth Agreement ad referendum the effective approval thereof by the Board of Directors of THE PARTIES; 
  
 NOW IN CONSIDERATION OF THE FOREGOING, THE PARTIES hereby agree to execute this Fourteenth Agreement subject to the following terms and conditions:
  
 ONE: THE PARTIES ratify that the Areas (as defined in the Master Agreement) and the calculation method applicable to the Exchange of Operational Services (also as defined in the Master Agreement) have been changed as from the dates listed below, amending therefore Exhibits I and II, as amended by the Agreements, to the Master Agreement as per the following detail:     
  
 (i) Starting in January 2022, as a result of the merger between IRSA and IRSA PC referred to in (xiii) above, the following areas cease to take part in the Shared Services Agreement: Proceeding and Permits, Investments, Rental Offices, Real Estate Business Management, Real Estate Business Analysis, Real Estate Legal Affairs, Real Estate Budget and Management Control, Real Estate Business HR; and Technical, Infrastructure and Services. As a consequence, Exhibits I and II were modified.
  
 (ii) Starting in January 2022, the corporate Legal area changed its Cost distribution method from “Weighted between the number of minutes of board of directors’ meetings and premium amount of the annual insurance program” to “Weighted between Number of Meetings of board of directors, liquidators and shareholders’ meetings and premium amount of the annual insurance program.” As a consequence, Exhibits I and II were modified.       
  
 	 
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 (iii) Starting in January 2022, the Bolivar, Board of Directors’ Safety and General Management Department areas to be distributed changed the distribution cost method from “Proportional among the three companies” to “66.66% IRSA and 33.33% CRESUD. As a consequence, Exhibits I and II were modified.In consideration of the foregoing, the PARTIES hereby put on record that, subject to the clarifications detailed in the preceding clauses and for purposes of updating Exhibits I and II, they shall be read as hereto attached for the periods and as from the dates indicated.
  
 TWO: THE PARTIES represent that all the sections of the Master Agreement, the Agreements, the Addendum and the Second Addendum that have not been amended pursuant to this Fourteenth Agreement continue to be in full force and effect.
  
 In witness whereof, this Agreement has been executed in two (2) counterparts of the same tenor and to a single effect in the place and on the date first written.
  
 CRESUD S.A.C.I.F.y A.
  
 __________/ ____________
 Attorneys-in-fact 
  
 IRSA Inversiones y Representaciones Sociedad Anónima
  
 ___________/ ____________
 Attorneys-in-fact
  
 	 
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 Exhibit I
  
 Description of Corporate Services Exchange Areas
  
 Corporate Human Resources
  
 The Human Resources sector renders to THE PARTIES the service consisting in Human Resources Administration; Human Resources Management, and Organizational Culture Management. Within the main activities of the sector we may mention labor relationships, selection of managerial positions, leadership training and interpersonal skills, compensation and benefits, internal communications, etc.
  
 Administration and Finance
  
 The Administration and Finance sector renders to THE PARTIES the service consisting in Investor Relations, Capital Markets, Financial Risk and Management of Financial Transactions. In addition, it renders to THE PARTIES the service consisting in planning and defining the companies’ fiscal policies.
  
 Planning 
  
 The Planning area is responsible for medium- and long-term planning, for aligning THE PARTIES’ objectives and individual goals, for coordinating THE PARTIES’ investment analysis, controlling the Shared Services Center’s, the Board’s and Corporate expenses management and budgeting, and for coordinating all the management information flowing through the businesses and submitted to the respective Boards of Directors.
  
 Institutional Relations
  
 The Institutional Relations department renders to THE PARTIES the service consisting in relations with the media and communities where the company does business, consisting in drafting of newsletters and statements, preparation of brochures and institutional events, CSR strategy, relationship with NGOs and planning and preparation of CSR actions. 
  
 Compliance
  
 The Compliance sector is responsible for information security and Internal Control, controlling the proper management of the different processes that constitute the administrative and accounting system and participating in their continuous improvement. In addition, it is in charge of verifying compliance with controls defined in the processes as well as with the regulations, principles and procedures that govern the governing bodies of THE PARTIES. In addition, it provides support and assistance to the Audit Committee for compliance with its duties. Furthermore, it renders to THE PARTIES Corporate Fraud Prevention services.
  
 Shared Services Center
  
 The Shared Services Center provides THE PARTIES with all the transactional and operational services associated with income and expense management, to the services inherent in managing human resources benefits and payroll processing, in commercial contract management, in errand running services and in general services. And it is also responsible for managing, maintaining and providing support to systems, technology and processes and the companies’ tax calculation processes.
  
 Safety
  
 The Safety sector renders to THE PARTIES the surveillance service.
  
 Legal Affairs - Corporate
  
 The Legal Affairs - Corporate sector renders to THE PARTIES the service consisting in aid to the preparation, analysis of and answer to legal briefs, agreements, official letters, etc. In addition, it renders to THE PARTIES the service consisting in managing their assets’ coverage by negotiating, purchasing and monitoring insurance policies, dealing with claims in terms of coverage, collection, etc.     
  
 	 
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 Purchases and Hirings
  
 The Purchases and Hirings sector renders to THE PARTIES the services consisting in procuring the most appropriate goods and/or service for the purpose for which they will be used. Quality, costs and terms of delivery are essential when taking the decision to hire. In addition, this sector deals with the necessary means to obtain appropriate financing of the purchases from suppliers.            
  
 Corporate Quality and Environment
  
 The Corporate Environment Sector assesses the environmental impact of projects and activities in order to determine preventive and corrective actions. This sector seeks to minimize potential impacts, following the working methodology set forth in an Environmental Management System. This area also manages the Parties’ environmental records that are required by law.                                
  
 Bolívar
  
 Bolívar includes the employees performing activities of support and assistance to THE PARTIES’ Board of Directors.             
  
 Attorneys-in-Fact
  
 The Attorneys-in-Fact sector groups the employees who perform activities consisting in representing THE PARTIES before different governmental agencies.
  
 General Management Department to be Distributed
  
 The General Management Department to be Distributed sector includes employees performing activities of support and assistance to THE PARTIES’ General Management Departments.
  
 Board of Directors’ Safety
  
 The Board of Directors’ Safety sector renders to THE PARTIES the service consisting in comprehensive safety for the main officers acting in their Board of Directors.
  
 Accounting and Reporting
  
 The Accounting and Reporting sector renders to THE PARTIES the services consisting in accounting and preparation of non-consolidated and consolidated financial statements of IRSA Inversiones y Representaciones S.A. and CRESUD S.A.C.I.F. y A. and of the respective managed subsidiaries.
  
 	 
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 Exhibit II 
 Cost Distribution Bases
  
 	  
 Corporate Departments
  
	  
 Department
  
	  
 Division / Subdivision
  
	  
 Distribution Method
  

	  
 Corporate Human Resources
  
	  
 Corporate Human Resources
  
	  
  
  
	  
 By headcount (non-corporate personnel) and weighting the percentages of other areas (corporate personnel).
  

	 Administration and Finance
	 Finance Department
	  
	 The percentages of all the sectors making up the area are weighted.
  

	 Capital Markets
	  
	 Number of financial transactions conducted in the period weighted at 70% and the remaining 30% corresponds to updates of offering memoranda and “horizontal” works (20F, annual reports, Press Release, etc.) 
  

	 Relations with Investors
	  
	 Number of business highlights during the six-month period, number of earnings releases, number of meetings with investors (current or potential) to discuss the companies’ business and strategy, number of active coverages, number of earnings release conferences, the complexity of the website of each company, number of material events published in the Argentine Securities Commission and the US Securities and Exchange Commission, and number of Roadshows (Deal or Non-Deal). All items involved are weighted in equal parts.
  

	 Financial Planning and Risks
	  
	 Fifty percent (50 %) for Financial Risks will be distributed pro rata based on the following: Number of risk notes made for balance sheets, Valuation of instruments, Fair Value of Liabilities (number of valued debts), yield/risk analysis for assets and Liabilities. Fifty percent (50%) for Financial Planning will be distributed pro rata based on the number of consolidated companies in each cash report submitted on a monthly basis and those companies in which a quarterly report is separately sent for the company because there is a partner.
  

	 Financial Administration
	  
	 Total Assets weighted at 60% and total Liabilities weighted at 40%. The resulting percentage shall be weighted at 50% over the total. Thirty percent (30%) corresponds to the number of transactions performed for each vehicle and its subsidiaries. The remaining 20% will correspond to the number of vehicles for which transactions are performed and number of inquiries for special transactions.
  

  
 	 
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 Corporate Departments
  
	  
 Department
  
	  
 Division / Subdivision
  
	  
 Distribution Method
  

	  
	  
 Corporate Tax
  
	  
	  
 Salaries are weighted by position and by tasks performed (by company)
  

	  
 Planning
  
	  
 Planning Department
  
	  
  
  
	  
 Each one of the sectors making up the area is weighted.
  

	  
 Corporate Budget and Management Control
  
	  
  
  
	  
 Overhead expenses budget for the period is pro-rated.
  

	  
 Strategic Analysis
  
	  
  
  
	  
 Tasks performed and the time spent in each.
  

	  
 Institutional Relations
  
	  
  
  
	  
  
  
	  
 Area expenses budget for the period is pro-rated
  

	 Compliance
	 Compliance Department
	  
	 Each sector comprising the Management is weighted.

	 Risk Management and Audit
	  
	 Time estimated/projected in the annual plan.

	 Information security
	  
	 Incidents closed by company.

	 Shared Services Center (CSC)
  
	 CSC Department
	  
	 The percentage corresponding to each sector falling within the scope of the CSC area is weighted on the basis of the impact exerted by the relevant sector’s projected salaries on the total salaries of the CSC.

	 Revenues Administration
	  
	 Number of Revenue Transactions performed for each Company + Direct Allocation of Resources

	 Expenses Administration
	  
	 Number of Expense Transactions performed for each Company + Direct Allocation of Resources

	 Customer Administration
	  
	 Direct Allocation of Resources

	 Collections Administration
	  
	 Direct Allocation of Resources

	 Treasury Administration
	  
	 Number of Treasury Transactions performed for each Company.

	 Own Account Administration
	  
	 Number of Transactions performed for each Company.

	 Technology
	  
	 Weighting of time spent in each task (related to the services).

	 IT Services
	  
	 Number of CASTI incidents processed for each Company.

	 Master Data
	  
	 Number of transactions processed by each Company.

	 Systems and Applications
	  
	 Hours devoted to each task.

	 Project Systems
	  
	 Hours devoted to each task.

	 Systems Maintenance
	  
	 Hours devoted to each task.

	 Commercial Transactions
	  
	 Number of agreements signed by Company

	 Data Management
	  
	 Hours devoted to each task.

	 Process Quality
	  
	 Weighting of time spent in each task.

	 CSC Human Resources
	  
	 75% weighting of % of CSC sectors; and 25% weighting % of Corporate sectors.

	 Errand Running Service
	  
	 Number of errands run.

	 Back office
	  
	 Hours spent in each task.

	 General Services
	  
	 Hours spent in each task.

	 Administrative operations
	  
	 The percentage of each sector served is weighted.

	 Services Control
	  
	 Number of documents controlled by company

	 CSC Taxes
	  
	 Salaries are weighted by position and by tasks performed (by company)

	 Safety
	  
	  
	 Per hour

	 Legal Affairs - Corporate
	  
	  
	 Weighted between number of Meetings of board of directors, liquidators and shareholders’ meetings and premium amount of the annual insurance program.

	 Corporate Environment and Quality
	  
	  
	 Area expenses budget for the period is pro-rated.

	 Purchases and Hirings
	  
	  
	 Purchase orders through a weighting of their volume and amount.

	 Attorneys-in-fact
	  
	  
	 Time spent in tasks performed.

	 Bolívar
	  
	  
	 66.66% IRSA and 33.33% CRESUD. 

	 Board of Directors’ Safety
	  
	  
	 66.66% IRSA and 33.33% CRESUD

	 General Management to be distributed
	  
	  
	 66.66% IRSA and 33.33% CRESUD

	 Accounting and Reporting
	  
	  
	 Weighted between payroll for tasks performed and number of vouchers recorded for the three companies and their managed subsidiaries. 

  
 THIS DOCUMENT IS A TRUE AND ACCURATE TRANSLATION into English of the document in Spanish I have had before me in Buenos Aires, on this 12th day of August, 2022.
 [For authentication purposes only:]
  
 ES TRADUCCIÓN FIEL al inglés del documento adjunto redactado en español que he tenido ante mí y al cual me remito en Buenos Aires, a los 12 días de agosto de 2022. 
  
 	 
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