Document:

Exhibit 4.12

CERTAIN INFORMATION IN THIS EXHIBIT, MARKED BY [****], HAS BEEN EXCLUDED. SUCH EXCLUDED INFORMATION IS NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

CERTAIN PERSONAL INFORMATION IN THIS EXHIBIT, MARKED BY [XXXXX] HAS BEEN EXCLUDED.

TORPEDO EMPRESAS AND RCS AGREEMENT

The parties of this instrument are

TELEFÔNICA BRASIL S/A, enrolled with the Corporate Taxpayers’ Registry of the Ministry of Finance (CNPJ) under No. 02.558.157/0001-62, headquartered at Av. Engenheiro Luiz Carlos Berrini, 1376, Cidade Monções, São Paulo - SP, through its subsidiaries, hereinafter referred to as "VIVO".

And, on the other hand, ZENVIA MOBILE SERVIÇOS DIGITAIS, enrolled with the Corporate Taxpayers’ Registry of the Ministry of Finance (CNPJ) under No. 14.096.190/0001-05, headquartered at Avenida Paulista, 2.300, Bela Vista, São Paulo/SP, hereinafter referred to as "INTEGRATOR" or "COMPANY", through its undersigned legal representatives, being "VIVO" and "COMPANY" jointly hereinafter referred to as "PARTIES";

The parties agreed to enter into this Agreement, in accordance with the following clauses and conditions:

1.              SCHEDULES AND APPLICABLE DOCUMENTS

1.1 The documents described below are an integral part of this instrument, and their terms and conditions shall be valid for all legal purposes, except when in conflict with the provisions herein, in which case the terms of this Agreement shall prevail:

1.1.1. Schedules:

- Schedule I - Commercial Model

- Schedule II - Optin/out Process and Database Description

- Schedule III - SMS Service Integration Manual

- Schedule IV - Anti-Corruption Certificate for Telefonica's Suppliers and Business Partners

2.              DEFINITIONS AND TERMINOLOGY

2.1. JIBE ADHESION AGREEMENT: means an adhesion agreement entered into by and between Jibe and the COMPANY for the sending of messages via RCS.

2.2. AGENT: is the digital representation of a brand that enables the sending and receiving of messages in RCS. It is also known commercially as 'bot' or 'chatbot'.

2.3. ADVERTISER(S) and/or THIRD PARTY(S): legal entity that will hire the services to be made available by the COMPANY, as provided in this Agreement;

2.4. COVERAGE AREA: geographical area in which a MOBILE DEVICE can be served by the radio equipment of a SMP Base Station;

2.5.              FORMAL AUTHORIZATION(S) (OPT-IN): Confidential authentication process by which formal authorization is obtained from the CUSTOMERS to send MESSAGES, especially SMS MARKETING;

2.6. COMPANY'S CLIENT DATABASE: Company's database to store the FORMAL AUTHORIZATIONS (OPT-IN) to send the MESSAGES, as well as their FORMAL CANCELLATION (OPT-OUT), pursuant to Schedule II;

2.7. FORMAL CANCELLATION(S) (OPT-OUT): a confidential process whereby the client requests the cancellation and/or non-sending of MESSAGES from ADVERTISERS and/or VIVO;

2.8.              CHARACTERS: any data, numerical digit, letter of the alphabet or special symbol;

2.9. SMS SENDER NAME (ALPHA TAG): Sending notifications with an Alpha tag, i.e. "sender name" instead of sending the message from an anonymous number.

2.10 GSM KEYWAYS or GATEWAYS: These are devices that allow direct routing between IP, digital, and analog networks to GSM mobile phone networks. Through this connection the illegal sending of massive SMS to customers without any release/agreement with the operator is possible;

2.11. CUSTOMER(S): individuals or legal entities holding MOBILE DEVICES capable of receiving and/or sending MESSAGES, which have provided the FORM AUTHORIZATIONS (OPT-IN) to VIVO and to the ADVERTISER;

2.12. INTERNATIONAL CONNECTION: This is the direct routing between international IP networks and national IP networks, allowing the mass transmission of SMS originating in other countries and terminating with the SMS clients of the local operator;

2.13.              MOBILE DEVICE(S): means a product used to establish wireless connection between a customer and an operator, including cellular telephones, "palm tops" with cellular phone line and others compatible with the MEE system and capable of sending and receiving MESSAGE;

2.14. APPROVED COMPANY (COMPANY): is the company responsible for providing and managing the MESSAGES to be delivered to the CLIENTS, through its own equipment and software, duly integrated with VIVO's systems, in the case of SMS, and with Google's systems, in cases of RCS.

2.15. TECHNICAL MANAGEMENT: It is a value-added service that includes planning, management and technical and commercial support, such as, but not limited to, the coordination of bases and LAs (short codes), platform configuration, configuration and release of TPS (transaction per second), monitoring of MESSAGES delivery retentions, consolidation and sending of reports, etc;

2.16. GUEST CLOUD: cloud service offered by Jibe that allows mobile network operators that do not yet have interoperability with Google to send messages via RCS.

2.17. LARGE ACCOUNT (LA) or SHORT CODE: numbers provided by VIVO to the COMPANY to receive and send SMS only and exclusively for the execution of the object of this Agreement, Schedules and / or applicable documents;

2.18. MESSAGE SERVICE TECHNOLOGICAL INTEGRATION MECHANISM: technical integration mechanism between the Parties.

2.19.              MESSAGE: service provided by VIVO which allows the forwarding of SMS or RCS to/from a MOBILE DEVICE, sent from an application, platform or typed directly into the MOBILE DEVICE. In the case of RCS, the message may contain videos, photos and other audiovisual elements;

2.20. A2P MESSAGE or A2P: means a communication initiated by a brand/third-party company to a CLIENT.

2.21.              P2A MESSAGE or P2A: means a communication initiated by a CUSTOMER to a brand/company. Such communication may occur in the following scenarios (a) CUSTOMER initiates a communication with an agent after the expiration of a SESSION (i.e., after the twenty-four (24) hour period); or (b) CUSTOMER initiates a communication with the agent without there having been any previous interaction of the brand with the CUSTOMER (i.e., in cases where the customer itself discovers the AGENT)

2.22.              RCS: is a message sent to a customer through an RCS agent and can be classified as a SIMPLE MESSAGE or SESSION.

2.22.1. SIMPLE MESSAGE: means a message sent by a brand without any response from the CLIENT to said communication within twenty-four (24) hours.

2.22.2. SESSION OR CONVERSATION: means a series of messages (between an End User and a Brand) within a maximum period of twenty-four (24) hours, beginning with the End User's first response to a SIMPLE MESSAGE (i.e., when the CUSTOMER responds to the RCS message initiated by the Brand). If the user responds to the RCS message after the twenty-four (24) hour period, a new SESSION is automatically started.  

2.23.              SMS (SHORT MESSAGE SERVICE): type of service provided by VIVO that allows the delivery of SMS to/from a MOBILE DEVICE, sent from an application, platform or typed directly into the MOBILE DEVICE;

2.23.1. MO MESSAGE: designation for SMS messages originated from the CLIENT's MOBILE DEVICE

2.23.2. MT MESSAGE: designation for SMS messages sent to the CLIENT'S MOBILE DEVICE (whether or not read by the client).

2.24.              TRANSMITTED SMS: SMS sent on the TEXT MESSAGE for Company platform,

2.24.1.1.1 MS EFFECTIVELY DELIVERED: SMS effectively delivered / successfully completed to the CUSTOMER'S MOBILE DEVICE, which includes MO MESSAGES and MT MESSAGES effectively delivered

2.24.1.1.2 NON-DELIVERED MS: TEXT MESSAGES not successfully delivered to the CLIENT'S MOBILE DEVICE for different reasons, not limited to: blocked cell phone, disconnected cell phone, stolen line, barred line status, etc.

2.25.              RBM PLATFORM: platform provided by Jibe that allows sending and receiving RCS business messages. The RBM Platform serves as the RCS Business Message entry point for aggregators, brands, and other developers.

2.26.              AWARDS VIA MESSAGE

2.26.1. Sweepstakes of any kind, free or not, approved under the terms and in accordance with the applicable legislation, promoted in Brazil or abroad;

2.26.2. Cultural contests of any kind, free of charge or not, under the terms and in compliance with the applicable legislation, promoted in Brazil or abroad;

2.26.3. Discounts of any kind, including, but not limited to, promotional values for messages, gratuity and/or special values for the service, whether or not linked to one of the aforementioned forms of promotional actions.

2.27.              FORMAL AUTHORIZATION PROCESS OF THE COMPANY: process described in Schedule II by which the COMPANY will obtain the FORMAL AUTHORIZATION (OPT-IN) for sending MESSAGES to the CUSTOMERS, as well as its CANCELLATION (OPT-OUT).

2.28.              RBM RATE CARD: Document that defines the type of RCS message charge and may be classified between a. SIMPLE MESSAGE or b. SESSION.

2.29.              RCS (Rich Communication Service): messaging platform that allows A2P and P2A messaging. RCS is a telecommunication service not regulated by ANATEL.

2.30.              VALUE-ADDED SERVICE: comprises products and/or services and/or content that add new utilities related to access, storage, presentation, movement or retrieval of information to a separate telecommunications service in which they can be used, being said products and/or services and/or content created by third parties to be marketed, provided and/or distributed by VIVO to users of value-added services using data transmission or voice;

2.31.              PERSONAL MOBILE SERVICE (SMP): terrestrial mobile telecommunications service of collective interest that enables communication between mobile stations and from mobile stations to other stations;

2.32.              SITE: logical place available on the Internet, accessible through an electronic address;

2.33.              SMPP (SHORT MESSAGE PEER TO PEER): an open protocol designed to provide flexible data communication interface for the transfer of an SMS between an SMS Center (SMSC), GSM USSD (Unstructured Supplementary Services Data) or any other type of message center and SMS applications, such as a voice mail platform, e-mail server, WAP proxy server or any other messaging gateway;

2.34.              SMS LINK: Common SMS message containing a URL that enables access to a WEB address or to VIVO's internal services through the MOBILE DEVICE;

2.35.              MARKETING MESSAGE: use of MESSAGE services to disclose, invite, encourage the purchase or commercial transaction of any product or service, such as, but not limited to: (i) the act of stimulating the purchase/use of a company's own product/service or of ANNOUNCERS who subcontract it; (ii) MESSAGES that have an advertising, promotional or propaganda connotation, or even that show preference for some company or brand, and must, under the terms of this Agreement, contain previously and expressly requested and authorized FORMAL AUTHORIZATION (OPT IN) in writing by the CLIENTS; and (iv) MESSAGE that is not characterized as merely informative messages of a service provision contracted by the CLIENT, such as, but not limited to: (a) informative messages of medical appointments; (b) informative messages of banking transactions (TORPEDO FINANÇAS) etc.

2.36.              SPAM: practice of sending messages to one or several clients without their FORMAL AUTHORIZATION (OPT IN);

2.37.              LEVEL 1 SUPPORT: remote support (phone, email or web) in order to solve problems detected by VIVO or the solution through proper guidance to the CLIENT;

2.38.  TORPEDO EMPRESAS: telecommunications service (messaging) provided by VIVO, which allows for the delivery of bulk SMSs approved by VIVO to MOBILE DEVICES, sent from an application, platform, delivered to the client's MOBILE DEVICE, not limited to: sending informative SMSs, media and marketing aimed at employees, suppliers, partners, clients, investors, service providers and ADVERTISERS, among others.

3.              OBJECT

3.1.              The object of this Agreement is

3.1.1 The hiring of VIVO by the COMPANY to:

3.1.1.1 Provide technological and commercial solutions, through specific projects, for the use of MESSAGES for CUSTOMERS, always respecting the rules set forth in this Agreement, its Schedules and applicable documents;

3.1.1.2 Implement, under the terms and conditions set forth herein, the company's projects, previously approved by VIVO;

3.1.1.3 Provide MESSAGE Sending Services, under the terms and conditions set forth in this Agreement, its Schedules and/or applicable documents.

3.1.2.              The supply and/or enabling of MESSAGES sending services, by VIVO to the COMPANY, so that it may provide technological and commercial solutions, through specific projects, that use MESSAGES, such as:

3.1.2.1 Messages with informative features or internal procedures for employees, suppliers, investors, and service providers of the COMPANY or the ADVERTISER subcontracting the COMPANY;

3.1.2.2 Messages with informative characteristics or internal procedures for direct clients of the COMPANY or of ADVERTISERS that subcontract with the COMPANY, provided that they have expressly provided the FORMAL AUTHORIZATION (OPT IN), under the terms of this Agreement;

3.1.2.3 Sending a MARKETING MESSAGE.

3.1.3 The homologation and granting, by VIVO, of the title of APPROVED COMPANY given to the COMPANY, granting it

3.1.3.1 Use of the logo that identifies it as such;

3.1.3.2 Presence in VIVO's marketing materials;

3.1.3.3 The possibility of VIVO's disclosure in its communication and advertising materials, if it has been previously and expressly approved by VIVO.

3.1.3.4 The exchange of information between VIVO and COMPANY for the delivery of MESSAGES will be carried out through technical integration detailed in Schedule III. In the case of RCS, the integration takes place between the COMPANY and Google and the necessary documentation is made available by Google through the link: https://developers.google.com/business-communications/rcs-business- messaging/guides/get-started/register-partner

4.              TERM

4.1.              The term of this Agreement shall begin on October 1st, 2021 and end on March 31st, 2025, and may be automatically extended for additional periods of 48 months, provided there is no express statement to the contrary, under the terms of clause 10.1.

5.              SPECIAL CLAUSE

5.1.              THE COMPANY hereby declares to be fully aware of the conditions of access and use of the MESSAGES service delivered to VIVO customers.

5.2               VIVO shall not be liable for delays or non-receipt of MESSAGES due to the occurrence of any fact or situation that prevents such activity, such as: (i) absence or degradation of coverage, whether permanent or temporary; (ii) equipment failure; (iii) power or transmission failure, or as a result of (iv) blockages of mobile service for inactive user of the Prepaid System, (v) suspension at the request of the client (not originating or receiving calls), (vi) recipient in analog coverage area, (vii) recipient with Mobile Device turned off or recipient outside the coverage area of VIVO, (viii) recipient carrying analog mobile station or any other technical or operational impossibility.

5.2.1 VIVO shall not be liable for any losses or damages resulting from activities that are not carried out, not performed, or that may be considered untimely or inadequately performed because of the non-receipt of MESSAGES.

5.3 The COMPANY declares to be aware and agrees that, if any of the events mentioned in clause 5.2 above tale place, the delivery time of the MESSAGES may exceed a few minutes, except in cases of impossibility of delivering the MESSAGE, as the case may be.

5.4 VIVO will not be liable for any claims, complaints, representations and lawsuits of any kind or nature regarding the content and nature of the use of the MESSAGES in applications or any services developed by THE COMPANY.

5.4.1 The liability shall be fully borne by the COMPANY, which hereby irrevocably, irrefutably, unrestrictedly, and unconditionally assumes any liability arising from the transmitted content and nature of use of the MESSAGES by the COMPANY.

5.5 SMS messages containing a maximum of one hundred and sixty (160) alphanumeric characters, including the header, will be sent to the CLIENTS.

5.5.1. The COMPANY will send to the CLIENTS SMS containing one hundred and sixty (160) alphanumeric characters, including the header, which corresponds to 1 (one) SMS of the package contracted.

5.5.2 Above one hundred and sixty (160) alphanumeric characters, the COMPANY shall divide the contents of the SMS and send another one (1) SMS of the package contracted. The SMS that do not comply with this standard may be discarded by Vivo, not being DELIVERED to the CUSTOMERS.

5.6.              The SMS sent to the CLIENTS containing special characters may be delivered to the CLIENTS in a deconfigured form.

5.7 It is prohibited to use any MOBILE DEVICE to send multiple SMS, regardless of the recipient (including, but not limited to CUSTOMERS, customers of VIVO, employees of the ADVERTISER or any other group), subject to penalty of immediate termination of this Agreement and the penalties set forth in clause 9.4 below.

5.7.1 For this purpose, the COMPANY must comply with all VIVO's specifications and determinations contained in Schedule III ("Service Integration Manual”).

5.8.              VIVO may alter the parameters for the delivery of MT MESSAGES, such as, but not limited to, delaying formerly immediate processing, message volumes per second in seasonal periods, system CUSTOMER silence periods and MT MESSAGE expiration time. The changes described above will take place upon prior notice to the COMPANY, whenever VIVO understands that the company's requests may in any way reduce the performance of its infrastructure as well as its platforms.

5.9 The COMPANY is strictly prohibited from sending MESSAGES to VIVO customers, regardless of their content and the form or mean, which have not given FORMAL AUTHORIZATION (OPT-IN) for such or who have requested FORMAL CANCELLATION (OPT-OUT).

5.10. VIVO will not be responsible for the operation of the RCS, which is the sole responsibility of Jibe.

5.11. The COMPANY is strictly prohibited from using Jibe's GUEST CLOUD to deliver RCS to VIVO CLIENTS. All and any communication via RCS with VIVO CLIENTS should occur through the release of the use of the AGENT by VIVO and pursuant to the rules set forth in clause 6.1.2 of this Agreement.

6.              OBLIGATIONS OF VIVO

6.1 The obligations of VIVO, without prejudice to the other obligations of this Agreement, are the following:

6.1.1. to strictly comply with the terms described in this Agreement and its Schedules;

6.1.2. to authorize the use of AGENTS created by the COMPANY for sending RCS to the CLIENTS. The approval proceeding will take place directly between VIVO and Google and should have an SLA of up to 20 calendar days.

6.1.3 VIVO may block AGENTS in cases that do not fall under the terms of this Agreement. In such cases, VIVO will not be liable for the costs incurred by the COMPANY.

6.1.4. not to perform cuts or modifications in the content of SMS, unless caused by excess of characters or use of special characters.

6.1.5. to install firewalls and security devices on its connectivity network, within the technical standards adopted by the majority of the market, in order to avoid undue access by any third party to the network or systems involved in the provision of services under this Agreement.

6.1.5.1 Notwithstanding the provisions of the foregoing clause, VIVO shall not be responsible for the transmission or interception of SMS which may have been modified and transmitted using the ADDED-VALUE SERVICES when they are in transit within or outside VIVO's networks.

6.1.6.              to provide, define or indicate to the COMPANY the TECHNOLOGICAL INTEGRATION MECHANISM OF THE MESSAGE SERVICES (Torpedo Empresas), for identification and authentication of the COMPANY's access, as applicable, to VIVO's SMS sending/receiving platform.

6.1.7 to establish, designate, and maintain LA's or, if applicable, Alphatags for interaction with the CLIENTS, to which the latter will send their messages in order to interact with the COMPANY, besides providing logical access to this resource for integration between the systems of both parties.

7.              OBLIGATIONS OF THE COMPANY

7.1 The company's obligations, without prejudice to the other obligations of this Agreement, are the following:

7.1.1. to strictly comply with the terms described in this Agreement, its Schedules and applicable documents.

7.1.2. to enter into an ADHESION AGREEMENT with JIBE for sending RCS, respecting all standards and rules imposed by Jibe.

7.1.3. to be responsible for obtaining from the CLIENTS of the ADVERTISERS prior FORMAL AUTHORIZATION (OPT IN) for sending and receiving MESSAGES, subject of this Agreement, being obliged to maintain a copy of such FORMAL AUTHORIZATION (OPT IN) of the CLIENTS receiving the MESSAGES, as well as the FORMAL CANCELLATIONS (OPT-OUT), fully exempting VIVO from any liability, whether joint or subsidiary, as to the absence of FORMAL AUTHORIZATION (OPT IN) or fraud of this nature.

7.1.3.1 The FORMAL AUTHORIZATION (OPT-IN), in addition to the text containing the authorization itself, shall also contain, when possible, the following information: (i) full name of the party; (ii) telephone number; (iii) specific purpose(s) for which this information will be used, including a guarantee that such information will not be passed on to any third party; and (iv) term of use of the registration.

7.1.4. to agree not to send MESSAGES to CLIENTS using the infrastructure or computer systems of operators competing with VIVO.

7.2 The COMPANY is strictly prohibited from:

7.2.1. sending MESSAGES to CLIENTS that have not given FORMAL AUTHORIZATION (OPT-IN).

7.2.2. sending MESSAGES to CLIENTS that have requested the FORMAL CANCELLATION (OPT-OUT) of the sending of the MESSAGES through MESSAGE P2A;

7.2.3. sending SMS by any means other than an LA (or short code) or Alphatag;

7.2.4. sending MESSAGES to CUSTOMERS using any network other than VIVO's network, such as international signaling networks (INTERNATIONAL CONNECTION);

7.2.5. sending SMS through the SIM cards, or performing any type of services related to this purpose;

7.2.6. sending messages using technologies that represent variations of SMS, such as SMS Flash, SMARTMESSAGE and similar technologies. The COMPANY may only send simple SMS.

7.3 Failure to comply with the clause 7.2 will subject the COMPANY to the payment of a non-compensatory fine of [***] per MESSAGE sent, without prejudice to the losses and damages resulting therefrom, and may also, at the discretion of VIVO, result in the unilateral termination of this Agreement without prior notice.

7.4.              COMPANY undertakes not to send MESSAGES containing (i) malicious links (phishing, malware, ramsomware or viruses), (ii) bank slip or “Pix” scams, inducing customers to make undue payments, (iii) offensive words that damage the image of third parties, (iv) inappropriate content in text, image, audio or audiovisual, containing violence, pornography or content that causes damage to third parties, (v) use of the trademark of third parties in the LA or in the identification of the RCS message, without the proper authorization of the responsible for the brand.

7.4.1 In the event of any infraction foreseen in clause 7.4, the COMPANY has a period of 48 hours to notify Vivo. Should Vivo request details of the fact, the COMPANY has a period of 72 hours to clarify and detail the occurrence, sharing the authorship of the message, with date/time, IP address used, content of the messages, and analytic with the impacted mailing

7.4.2 The breach of clause 7.4 will subject the COMPANY to the payment of a non-compensatory fine of [***] up to 100,000 messages sent, [***], from 100,000 to 500,000 messages sent, [***], from 500,000 to 1,000,000 messages sent, and [***], above 1,000,000 messages sent, to be levied at the discretion of VIVO

7.4.3 In the event of 3 (three) repeated infringements of any of the terms of Clause 7.4, within a period of 6 (six) months, the COMPANY will have its traffic blocked.

7.4.4 In case of service blocking for the reason described in clause 7.4.3, the service under this Agreement will be reestablished within 3 (three) business days after receipt of evidence requested by VIVO.

7.5 VIVO may at any time analyze the messages sent by the COMPANY to check whether the COMPANY is correctly complying with the conditions established in this Agreement. To this end, the proceeding for the analysis of the messages will be discussed between the parties.

7.6 The COMPANY undertakes not to send MESSAGES to advertisers and/or third-party companies with which VIVO has already directly contracted to provide the same service under this Agreement, provided that VIVO has given prior written notice of such companies to the COMPANY. This obligation will not apply (i) if any of the companies informed by VIVO is already a customer of the COMPANY; and (ii) if any of the companies informed by VIVO, for any reason, as long as on its own initiative and without any proven provocation from the COMPANY, wishes to cancel the direct contracting with VIVO and hire the COMPANY to provide the same service subject of this Agreement.

7.7 THE COMPANY is fully responsible for the content of MESSAGES, photos, videos and any other audiovisual material delivered to VIVO (SMS) or Google (RCS), typed or created by itself or by third parties, including ADVERTISERS, responding for its content in or out of court, for which it unconditionally releases VIVO from any liability, either jointly or severally, for any and all claims, complaints, representations and legal actions of any kind or nature relating to the services which the COMPANY is responsible for providing, including the claims of CUSTOMERS or third parties, in the event of disclosure of their confidential information.

7.8 Taking full responsibility for the content of the MESSAGES sent to the CLIENTS, guaranteeing to VIVO that the texts or content of the MESSAGES do not violate the intellectual property rights of third parties, whatever the country, as well as brands, commercial secrets or other third party rights, including as to matters related to the development and application of computer systems used, declaring from now on that such texts or content do not constitute an infringement of any legal provision, keeping VIVO informed and safe from any doubt or future dispute regarding the provisions of the preceding clause, so that its liability is excluded, whether jointly or severally, being the COMPANY liable in or out of court unconditionally exempting VIVO from any liability, whether jointly or severally, for any and all claims, complaints, representations and lawsuits of any kind or nature, relating to issues relating to this clause.

7.9 Identify itself in VIVO's systems by means of the specific MESSAGE SERVICE TECHNOLOGICAL INTEGRATION MECHANISM, in accordance with the provisions of this Agreement, its Schedules and applicable documents.

7.10 Inform VIVO, when requested, of the IP address where the MESSAGES sent from and to the CLIENTS should be forwarded.

7.10.1 Inform VIVO at least forty-eight (48) hours in advance of any type of scheduled interruption of services, including, but not limited to: updates, maintenance or changes.

7.10.2 Inform VIVO at least thirty (30) business days in advance of changes in topology or any element that implies the performance of any type of activities by VIVO.

7. 11 Be responsible for the confidentiality and secrecy of the data and information relating to the MESSAGE SERVICE TECHNOLOGICAL INTEGRATION MECHANISM provided as Schedules to this Agreement, releasing VIVO from any liability arising from possible fraud that may occur due to the leak or unauthorized access to such data and information, undertaking, as of now, to pay for all damages and costs which the COMPANY may have caused,  related to the misuse of the MESSAGE SERVICE TECHNOLOGICAL INTEGRATION MECHANISM up to the date of delivery of a notice to VIVO for the modification of such identification and authentication data, as the case may be.

7.12 Be responsible for fines and penalties imposed by the Ministry of Labor and Social Security or other federal, state, or municipal public entities in connection to this Agreement or its execution for which the Company is liable.

7.13 Keep, during the whole term of this Agreement, a complete file of all the information and all the documentation related to the services object of this Agreement, including, but not limited to the FORMAL AUTHORIZATIONS (OPT-IN) and FORMAL CANCELLATIONS (OPT-OUT), with due care, security, and secrecy, as well as to provide reports when requested.

7.14. Returning, upon termination of this Agreement, all documents received from VIVO or containing information obtained during the term of this Agreement.

7.15 Comply, in the performance of this Agreement, with the Federal, State and Municipal Laws relating to traffic, insurance, labor and social security obligations, occupational accidents, safety and health and other applicable laws (including providing the personal protection equipment that may be necessary), being its sole responsibility all obligations, including tax or tax related payments, arising therefrom, being VIVO expressly exempt from any charges and liabilities.

7.16 Comply with the confidentiality and secrecy of the data and information that VIVO provides for the performance of this Agreement, as well as everything related to the contracted project or its execution, therefore it is forbidden to partially or totally reproduce, demonstrate or provide any information to third parties, including VIVO's suppliers, without VIVO’s prior authorization.

7.17 Assuming, exclusively, the position of employer or entrepreneur, with respect to persons who are hired for the performance of this Agreement by the COMPANY, guaranteeing to VIVO compensation for any damage caused by these persons, as well as the payment of any and all indemnification arising from liability arising from the execution of this Agreement, including in cases where the COMPANY subcontracts or hires outsourced labor for the execution of this instrument, which may occur only with the prior express authorization of VIVO .

7.18. Immediately exclude VIVO from all judicial or administrative proceedings that are filed by an employee of the COMPANY, third party or governmental body in connection to this Agreement, its Schedules and applicable documents and/or its execution, exempting VIVO from any burden or responsibility.

7.19.              Comply with and enforce contractual responsibilities assumed by its employees, agents, and contractors.

7.20.              Bear all costs of displacement, travel, transportation, food, lodging, per diem, insurance of its employees/representatives, necessary for the execution of services under this Agreement.

7.21.              Be responsible for the payment of all taxes that are or come to be applied to the activities inherent to the execution of the contractual object, excluding any obligation of VIVO in relation to them.

7.21.1 The COMPANY will be liable for any insufficient or improper tax collection and any tax violations committed, arising from the execution of the contractual object.

7.22              Provide, as needed and requested by VIVO, all security and protection mechanisms, such as firewall, virtual private networks (VPN), data encryption through the use of certifying entities, public and private keys (PKI).

7.23. Be responsible for the content of services created by third parties who have a business relationship with the COMPANY, with the purpose of providing the MESSAGES SERVICES always complying with the legal restrictions, especially the right of possession and ownership, ethics and applicable customs, as well as any business operations or other services contracted by the CLIENTS, being solely liable, provided that guilt or intent is proven, for all damages caused to VIVO or third parties, including reimbursing VIVO for the amount of compensation required in or out of court.

7.24.              To be the owner or licensee of all copyrights of the MESSAGES SERVICES that are the subject of this Agreement, observing all legal provisions and maintaining, in any event, VIVO always free and clear of any liability to itself or any third-party regarding rights, licensing or copyright and intellectual property issues with reference to the MESSAGES SERVICES provided by COMPANY.

7.25.              Exclude VIVO from any liability to CUSTOMERS or third parties for improper access to the MESSAGES SERVICES transmitted during the provision of services by third parties. Improper access is understood to mean that which is carried out by means other than those agreed upon by the Parties and contemplated in this Agreement, provided that carried out outside of the operating environment of VIVO, being the COMPANY entirely responsible for disclosing the steps that should be taken by employees, subcontractors or agents responsible for updating and sending MESSAGES SERVICES to VIVO or for possible illicit use of the network by employees, subcontractors or agents of the company.

7.26.              Ensure, under penalties of law, especially those set forth in the Code of Consumer Protection, the availability of a support channel to customers to provide clarification on the services provided by the COMPANY, to the extent that Agreements are concluded between the COMPANY and advertisers, disclosing this channel clearly and visibly in the various media available, and authorizing VIVO to disclose it as well.

7.26.1 This channel must be included in all communication used to advertise the services provided by the COMPANY, and the COMPANY is responsible for making all updates as necessary.

7.27.              Ensure the functioning of the necessary infrastructure for the provision of MESSAGE SERVICES.

7.28.              The COMPANY should guide and inform, adequately, VIVO and the CLIENTS, throughout the term of this Agreement, about the necessary resources, the characteristics and form of use of MESSAGES.

7.29.              THE COMPANY will be fully liable for all damages or losses that THE COMPANY is proven to have caused to VIVO, Jibe or third parties.

7.30.              THE COMPANY will be fully liable for any amounts eventually levied on VIVO, and that it has caused, by force of its joint, subsidiary, or isolated judicial or administrative conviction, resulting directly or indirectly from the execution of the subject matter of this Agreement, assuming any and all monetary costs resulting from the conviction, as well as procedural costs, expenses, attorney's fees, defeat, etc.

7.31.              It is forbidden for the COMPANY to use, refer to or cite the name or logo of VIVO in any advertising or publicity, whatever the title, without the prior express consent of it.

7.32.              The Parties agree that, for all purposes, the COMPANY will be considered the sole and exclusive employer of its employees and agents appointed for any activities integral to the subject matter of this Agreement, and the COMPANY shall appoint for the execution of this Agreement only personnel with regular employment, in full compliance with current labor laws.

7.33.              The COMPANY assumes full liability, whether present, past, or future, for the labor, social security and tax charges arising from the relationship maintained with its employees, exempting VIVO of any obligations, committing itself formally and promptly to reimburse VIVO of any and all expenses or costs that VIVO has demonstrably borne in this regard.

7.34.              The COMPANY will be the solely and exclusively liable for the full execution of this Agreement before VIVO, and all parallel or sub-contractual obligations between the COMPANY and its subcontractors/sub-suppliers will be the entire responsibility of the company.

7.35.              The COMPANY shall not create or transmit any information to VIVO or Customers that:

(i) Is false or leads to dubious interpretations;

(ii) Invades the privacy of third parties or harms them in any way;

(iii) Promotes, in any form, racism against minority groups, or any form of political or religious fanaticism, discriminating against groups of people or ethnicities;

(iv) Is obscene;

(v) Violates the rights of third parties, including but not limited to intellectual property rights, and/or the creation and sending of unsolicited or unfounded MESSAGES (SPAM);

(vi) Is in any way prohibited or not recommended for a certain age group.

(vii) Is prohibited or infringes any law or regulation.

7.36.              The COMPANY undertakes to maintain all information relating to the business and activities of VIVO confidential, regardless of how such information has been obtained.

7.37.              THE COMPANY agrees not to use any such information except for the purposes permitted herein, as well as not to disclose any such information except as permitted in writing by VIVO.

7.38.              THE COMPANY shall provide LEVEL 1 SUPPORT to the advertisers.

7.39.              COMPANY shall be responsible for describing in writing to VIVO the process by which it will obtain FORMAL AUTHORIZATION (OPT IN), as well as FORMAL CANCELLATION (OPT-OUT), as provided in Schedule II.

7.39.1 If the CLIENT changes the number of his or her MOBILE DEVICE, the COMPANY shall be entirely responsible for updating the new number and shall clearly communicate to the CLIENT that he or she must always keep this information updated.

7.39.2 The database containing all information provided by the CLIENTS shall be protected by the COMPANY itself, or by a company hired for this purpose. In both cases, the COMPANY shall guarantee VIVO against:

(i) Theft or perishing of the information contained in this registration;

(ii) The use by third parties (authorized or not) of this registration for any other purpose.

7.40.              THE COMPANY is responsible for obtaining and managing the FORMAL CANCELLATION (OPT-OUT), ensuring that this CLIENT will no longer receive MESSAGES.

7.40.1.              The option of cancellation ("opt-out") by the CLIENT shall appear in all MESSAGES managed by THE COMPANY.

7.41.              It is strictly forbidden for the COMPANY:

7.41.1. to the use of the object of this Agreement for sending PRIZES VIA MESSAGES.

7.41.2. to the use of the object of this Agreement to carry out SPAM.

7.41.3. sending MESSAGES with advertising content, informational or that in any way allow the presentation of: (i) telephone companies competing with VIVO, and (ii) companies whose social activity is similar to that carried out by VIVO, including any advertisement or offer of products and/or services of these companies, (iii) or any content that induces the migration of the CLIENT to another competing operator

7.41.4. subcontract companies to provide SMS connections and/or interconnections, such as, but not limited to SMP operators, SMS companies and similar.

7.41.5.              The resale of (SMS) to third parties in accordance with applicable law.

7.41.5.1. For SMS, resale is characterized as the act of offering telecommunications products and services without being duly authorized by ANATEL. It must comply expressly with the provisions of the Object of this Agreement.

7.42. Taking responsibility for obtaining all necessary integrations with Google for RCS contracting, with no responsibility to VIVO for this integration.

7.43.              VIVO may block the sending of MESSAGES upon formal notice to COMPANY, in cases not covered by the provisions of this Agreement. In these cases, VIVO will not be responsible for the costs incurred by COMPANY.

7.44.              In scenarios of dispute, the COMPANY must provide information and data, including detailed information from CDRs, to support such a request.

7.45.              It is prohibited for the COMPANY to delegate, assign or transfer, in whole or in part, the rights and obligations of this Agreement, without the prior express authorization of VIVO, with the exception indicated in clause 13.1.

8. BUSINESS MODEL AND METHOD OF PAYMENT

8.1.              For the subject matter of this Agreement, COMPANY will pay VIVO the MESSAGES price, as set forth in Schedule I of this Agreement.

8.2 Taxes, if any, are already included in the amounts contained in Schedule I.

8.3 The costs of the service subject matter of this Agreement will be paid by the COMPANY either jointly with the other services charged in the invoice for telecommunications services or in an specific invoice for this purpose.

8.4 The aforementioned invoice must be paid in full and its partial payment is prohibited.

8.5 In any event, all conditions and provisions relating to the provision of the SMP will apply to the definition of penalties, monetary restatement, fine, interest and other late payment charges and other issues and provisions relating to late payment.

8.6 In the event of default on regulated payment obligations, the services contracted herein may be suspended at VIVO's sole discretion, regardless of any prior notices or communications, until all and any debts for which the company is liable have been settled.

8.7 In the event of service blocking due to company default, service under this Agreement will be reinstated within three (3) business days after proof of payment.

8.8 A delay in payment of more than ninety (90) days will result, besides the incidence of the penalty provided for in the clauses above, in the immediate and irrevocable termination of this Agreement, without prejudice to the losses and damages to be ascertained.

9. NON-COMPLIANCE WITH THE OBLIGATIONS

9.1 The non-compliance with the obligations set forth in this Agreement, by any of the Parties, will be communicated by the prejudiced party by means of written notice for the non-complying Party to provide the regularization within ten (10) business days.

9.1.1 Failure to regularize the obligations within the period stipulated above may result in the levying of the fine described in clause 9.4 below, as well as in the termination of this Agreement under the terms of clause 10 of this Agreement.

9.2 The levying of the fines established in this Agreement will be cumulative, according to each unfulfilled obligation.

9.3 The fines possibly levied shall be considered liquid, certain and enforceable debts based on this Agreement, or the Parties may judicially collect them, using this instrument as an extrajudicial execution instrument.

9.4 The stipulated value for the non-compensatory fine is [***] time the value of the average of the last three (03) invoices, considering the minimum value of [***].

10. TERMINATION

10.1. This Agreement may be terminated, at any time, by either Party, upon prior written notice, at least thirty (30) days in advance. 

10.1.1 The Parties undertake to ensure the continuity of the provision of services and conditions in force, object of this Agreement, for up to 90 days after the termination of the Agreement.

10.1.2 In the event of termination by either Party, a fine of 30% of the outstanding monthly fees will be due, pursuant to Schedule I. The fine payment must be fulfilled within 30 (thirty) days.

10.2 This Agreement may also, at the discretion of the innocent party, be considered terminated by means of judicial or extrajudicial notice in the following hypotheses:

10.2.1. if, upon a total or partial breach of any of the provisions of this Agreement, Schedules and/or applicable documents, the defaulting party fails to resolve and/or remedy said breach within 10 (ten) days from the date of receipt of written notice issued by the other Party;

10.2.2. In the event of bankruptcy or judicial reorganization of any of the Parties;

10.2.3. In the event of non-compliance with the obligations under clause 9.1;

10.2.4. Recurring non-compliance with the obligations set forth in this Agreement

10.3 In the event of termination for any reason attributable to the COMPANY, according to the terms of this Agreement, the COMPANY will be liable for the payment of losses and damages to be ascertained, according to current legislation.

10.4 The Agreement may also be terminated by VIVO, without any charge or fine, in the occurrence of any of the following events involving the structure of the COMPANY: (i) subrogation of another entity in the rights and obligations derived from this Agreement due to a dissolution, liquidation, merger, absorption, spin-off or any corporate reorganizations with a company that did not have any previous corporate link with the COMPANY; (ii) substantial change in the ownership of shares or equity interests, considering, for this purpose, as substantial change, any change that alters the control of the COMPANY.

10.4.1 In any of these hypotheses, the COMPANY is obligated to expressly communicate to VIVO, in writing, any of the events within five (5) business days, subject to the penalty of being considered as a breach of Agreement.

11. CONFIDENTIALITY

11.2 The receiving party, its officers, agents, and employees will maintain absolute confidentiality regarding all data and information provided by the disclosing party for the fulfillment of this Agreement for two (2) years following its termination.

11.3 The Parties are liable for any unauthorized disclosure made by any of their employees, representatives, contractors, or agents that have received information and will take the administrative and judicial measures to prevent them from disclosing or using  said information in a prohibited or unauthorized way.

11.4 The receiving party undertakes to keep confidential all information regarding the disclosing party's business and activities, regardless of the form in which such information is or has been obtained. The receiving party agrees not to use any such information except for the purposes permitted herein, and not to disclose any such information except as permitted in writing by the disclosing party.

11.5 The use or access by the parties to systems and/or programs necessary for the execution of the services contracted herein does not imply the right to reproduce, sell, license, rent or any other form of transfer of the programs and documents provided to them, or to which they have access in any way.

11.6 The receiving party hereby acknowledges that the information provided to it by the disclosing party, relating to any of its data and information, is the exclusive property of the disclosing party, and the receiving party is not allowed to keep copies or dispose of it in any way, at any time, and for any purpose, except for the execution of this Agreement, being obligated to give confidential treatment to such information or data, under penalty of incurring in contractual infraction.

11.7 The Parties undertake to keep the most complete and absolute secrecy about any data, materials, details, information, documents, technical or commercial specifications, innovations and improvement, which are of creation or development, jointly or individually, of the other Party or third parties, even if arising from the hired services, and of or to which they may have knowledge or access, or that are entrusted to them due to this Agreement, not being allowed, under any pretext, to disclose, reveal, reproduce, use, or give knowledge of them to third parties, under the penalties of the law.

11.8 If it is necessary to destroy documents and data containing information relating to the disclosing party, its contractors, its customers and/or third parties, the receiving party undertakes to do so only at a location made available and/or indicated by the disclosing party, further undertaking to allow VIVO to carry out the complete destruction of the memory files of the machines and other equipment that the receiving party uses in the execution of the Agreement.

11.9 All provisions of this clause also bind the parties by acts of their successors, employees, agents, suppliers and/or subcontractors.

11.10 Upon termination or end of this Agreement, the parties undertake to return all documents delivered to it, and containing information received or obtained during the term of this Agreement, except those which, by nature, must be, exclusively and mandatorily, kept by the parties as evidence of their obligations, including before third parties.

11.11 The receiving party is expressly forbidden to access the disclosing party's systems for purposes other than the subject matter of this Agreement and/or the use of any equipment of the disclosing party to access or attempt to access third party environments.

11.12 The Confidentiality obligations set forth in this clause will not apply to the following hypotheses: (i) the information, at any time, enters public domain is publicly disclosed, without being contractual infringement; (ii) the information is known by the receiving party prior to its disclosure by the disclosing party, or that it has been independently developed by the receiving party's representatives, without these having had access to the information(s); (iii) the information is disclosed, in good faith, by a third party legally entitled and/or entitled to do so; and (iv) the disclosure of the information is required by law, court order and/or determination of a governmental body/agency.

12. COMPLIANCE WITH ANTI-CORRUPTION LAWS

12.2 The COMPANY undertakes, recognizes, and guarantees that:

(a) Both the COMPANY and any of the companies or persons controlling it, as well as its subsidiaries, its partners, legal representatives, administrators, employees and agents related in any way to the Relevant Undertaking1, will comply at all times during the Relevant Undertaking (including, as the case may be, the acquisition of the products and/or content that are related to the provision of goods and/or services that are the subject of this agreement) with all applicable anti-corruption laws, statutes, regulations and codes, including, in any case and without limitation, the United States Foreign Corrupt Practices Act (collectively, "Anti-Corruption Laws");

 

(b) In connection with the Relevant Undertaking, the COMPANY, its controlling companies or persons, its subsidiaries, its partners, legal representatives, administrators, employees and agents will not offer, promise or deliver, or, prior to the execution of this Agreement, have already offered, promised or delivered, directly or indirectly, money or objects of value to (i) a "Public Employee"2 in order to influence their actions or with a certain public body or, in any way, to obtain an undue advantage (ii) any other person, if they have knowledge that all or part of the money or valuables will be offered or delivered to a Public Official in order to influence their actions or those of a public body or in any way to obtain an improper advantage; or (iii) any other person in order to induce them to act in an unfair or otherwise inappropriate manner;

 

(c) The COMPANY shall keep and maintain accurate and reasonably detailed financial books and records in relation to this Agreement and the Relevant Undertaking;

d) the COMPANY has, and will maintain in effect during the term of this Agreement, its own policies and/or procedures to ensure compliance with the Anti-Corruption Laws, and sufficient to reasonably ensure that violations of the Anti-Corruption Laws are prevented, detected and deterred;

e) the COMPANY will immediately notify VIVO of any non-compliance with the obligations described in letters (a), (b) and (c) of this Clause. In the event of such a breach, VIVO reserves the right to require COMPANY to immediately adopt appropriate corrective measures;

f) the representations, warranties and commitments of COMPANY contained in this Section shall apply in full to any third party subject to the control and influence of COMPANY, or acting on its behalf, with respect to the Relevant Undertaking; and COMPANY represents that it has taken all reasonable measures to ensure compliance by such third parties with the representations, warranties and commitments. Furthermore, no right or obligation, as well as no service to be provided by the COMPANY with respect to the Relevant Undertaking, will be assigned, transferred or subcontracted to any third party without the prior written consent of VIVO;

g) COMPANY will periodically certify its compliance with this Clause whenever requested by VIVO.

	
	

1 Relevant Undertaking" is the subject matter of this Agreement

2 "Public Employee" includes any person working for or on behalf of a federal, state, local or district government agency, direct or indirect government (including government-owned or government-controlled enterprises) or any public international organization. This expression also includes political parties, party employees and candidates for public office.

12.3. Non-compliance.

a) Failure to comply with this Anti-Corruption Laws Clause will be considered a serious contractual breach. If such noncompliance occurs, unless it is corrected as provided in clause (e) above, this Agreement may be immediately suspended or terminated by VIVO, and VIVO will not be obligated to pay any amounts due to COMPANY.

b) To the extent permitted by applicable law, COMPANY will indemnify and hold harmless VIVO from and against all claims, damages, losses, penalties and costs (including, but not limited to, attorneys' fees) and any expenses arising from or related to COMPANY’s failure to comply with its obligations contained in this Anti-Corruption Laws Clause.

12.4 VIVO shall have the right to audit the compliance by COMPANY with its obligations and manifestations contained in this Clause of "Compliance with Anti-Corruption Laws". THE COMPANY will cooperate fully with any audit, review or investigation conducted by or on behalf of VIVO.

13 GENERAL PROVISIONS

13.1 The Parties hereby agree that both may assign, in whole or in part, the rights and obligations arising from this Agreement only to Affiliate companies, to parent companies, controlled companies or related companies, being said terms understood pursuant to the corporate legislation in force, provided that none of the companies have outstanding debts with VIVO and that there are no invoices with payment delays in the last 180 days. In addition, the companies must be jointly liable for payments and debts. An "Affiliate" is any company that (1) Controls, (2) is Controlled, directly or indirectly, by, or (2) is under common Control with respect to the Parties. For the purposes of this Agreement, "Control" means, in relation to a certain company, the ownership of corporate interest higher than 50% (fifty percent) of its capital stock.

13.2 Total or partial assignment of rights and obligations under this Agreement to companies not contemplated in sub-item 13.1 shall depend upon the prior and express authorization of the other Party.

13.3 The Parties acknowledge, expressly, that this Agreement and its Schedules are the only instrument to regulate the relationship between them regarding the object detailed in Schedule I, for which reason they consider terminated all and any Agreements, commitments and other agreements, tacit or express, that the Parties may have maintained prior to the formalization of this instrument.

13.4 Upon execution of this Agreement, the COMPANY grants the broadest, general, and unrestricted release to VIVO, and may no longer claim the existence of any amounts to VIVO, in or out of court, including possible legal or administrative claims in force, relating to the provision of any of the Services performed until then, in or out of court.

13.5 THE COMPANY declares and agrees to be aware, for all intents and purposes of law, irrevocably, unrestrictedly, and completely, that the termination of the provision of this service by VIVO will not characterize any burden for VIVO before the COMPANY.

14. JURISDICTION

14.1 The Parties elect the Courts of the Judicial District of the City of Sao Paulo/SP, dismissing any other, however special, to file and judge any lawsuit or settle issues arising from or related to this Agreement. In witness whereof, the parties sign this Contract, in two (02) counterparts of equal content and form, in the presence of two (02) witnesses, so that it may produce legal and juridical effects.

São Paulo/SP, November 30th, 2021

	
Felipe Augusto Ferraz de Campos

 

	
Fabio S. Balladi

 

 

TELEFONICA BRASIL S.A.

	
Lilian Lima

	
 

 

ZENVIA MOBILE SEVIÇOS DIGITAIS S/A

Witnesses:

1. 

Name: Adriana Fatima Morais

Individual Taxpayer Registration Number: [XXXXX]

 

2. 

Name: Jessé Venancio de Farias

Individual Taxpayer Registration Number [XXXXX]Document

Exhibit 4.3
DESCRIPTION OF CAPITAL STOCK 

The following description of the capital stock of Rivian Automotive, Inc. (the “Company,” “we,” “us,” and “our”) and certain provisions of our amended and restated certificate of incorporation, as amended from time to time (the “amended and restated certificate of incorporation”) and amended and restated bylaws, as amended from time to time (the “amended and restated bylaws”) is a summary and is qualified in its entirety by reference to the full text of our amended and restated certificate of incorporation and amended and restated bylaws and applicable provisions of the General Corporation Law of the State of Delaware (the “DGCL”). Our amended and restated certificate of incorporation authorizes capital stock consisting of: 

									
		•	3,500,000,000 shares of Class A common stock, par value $0.001 per share;

									
		•	7,825,000 shares of Class B common stock, par value $0.001 per share; and

									
		•	10,000,000 shares of undesignated preferred stock, par value $0.001 per share.

We have no shares of preferred stock issued and outstanding. The following summary describes the material provisions of our capital stock. 

Common Stock

We have two classes of authorized common stock: Class A common stock and Class B common stock. The rights of the holders of each class of our common stock are identical, except with respect to voting and conversion rights.

Voting Rights

Each holder of our Class A common stock is entitled to one vote per share, and each holder of our Class B common stock is entitled to ten votes per share, on all matters submitted to a vote of the stockholders. The holders of our Class A and Class B common stock generally vote together as a single class on all matters submitted to a vote of our stockholders, unless otherwise required by Delaware law or our amended and restated certificate of incorporation. Delaware law could require either holders of our Class A common stock or Class B common stock to vote separately as a single class in the following circumstances:

•if we were to seek to amend our amended and restated certificate of incorporation to increase or decrease the par value of a class of our capital stock, then that class would be required to vote separately to approve the proposed amendment; and
•if we were to seek to amend our amended and restated certificate of incorporation in a manner that alters or changes the powers, preferences, or special rights of a class of our capital stock in a manner that affected its holders adversely, then that class would be required to vote separately to approve the proposed amendment.

Our amended and restated certificate of incorporation does not provide for cumulative voting for the election of directors.

Dividend Rights

Subject to preferences that may apply to any shares of preferred stock outstanding at the time, the holders of our Class A and Class B common stock are entitled to receive dividends out of funds legally available if our board of directors, in its discretion, determines to issue dividends and then only at the times and in the amounts that our board of directors may determine.

Conversion

Each outstanding share of Class B common stock is convertible at any time at the option of the holder into one share of Class A common stock. In addition, each share of Class B common stock will convert automatically into one share of Class A common stock upon any transfer, whether or not for value, which occurs after the completion of this offering, except for certain permitted transfers further described in our amended and restated certificate of incorporation, including estate planning or charitable transfers where exclusive voting control with respect to the shares of Class B common stock is retained by our Founder and Chief Executive Officer and transfers to affiliates or certain other related entities of our Founder and Chief Executive Officer.

All outstanding shares of our Class B common stock will automatically convert into one share of Class A common stock at 5:00 p.m. New York City time on the earliest to occur of (1) a date fixed by our board of directors that is not less than 60 days nor more than 180 days following the death or disability of our Founder and Chief Executive Officer, (2) the five year anniversary of the date of the closing of our initial public offering and (3) the date fixed by the board of directors of the Company that is no less than 61 days and no more than 180 days following the date that the number of outstanding shares of Class B common stock held by our Founder and Chief Executive Officer and certain permitted transferees represents less than 30% of the shares of Class B common stock held by an affiliate of our Founder and Chief Executive Officer immediately following our initial public offering.

Once converted into Class A common stock, the Class B common stock may not be reissued.

Right to Receive Liquidation Distributions

Upon our liquidation, dissolution or winding up, the assets legally available for distribution to our stockholders would be distributable ratably among the holders of our Class A common stock and Class B common stock and any participating preferred stock outstanding at that time, subject to the prior satisfaction of all outstanding debt and liabilities and the preferential rights of and the payment of liquidation preferences, if any, on any shares of preferred stock outstanding at that time.

No Preemptive or Similar Rights

Our Class A common stock and Class B common stock is not entitled to preemptive rights and is not subject to redemption or sinking fund provisions. The rights, preferences and privileges of the holders of our common stock will be subject to and may be adversely affected by the rights of the holders of shares of any series of our preferred stock that we may designate in the future.

Fully Paid and Non-Assessable

All outstanding shares of our Class A common stock and Class B common stock are fully paid and non-assessable.

Preferred Stock

Pursuant to the provisions of our amended and restated certificate of incorporation, our board of directors is authorized, subject to limitations prescribed by Delaware law, to issue preferred stock in one or more series, to establish from time to time the number of shares to be included in each series, and to fix the designation, powers, preferences and rights of the shares of each series and any of its qualifications, limitations or restrictions, in each case without further vote or action by our stockholders. Our board of directors can also increase or decrease the number of shares of any series of preferred stock, but not below the number of shares of that series then outstanding, without any further vote or action by our stockholders. Our board of directors may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of our common stock. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, 

deferring or preventing a change in control of the Company and might adversely affect the market price of our common stock and the voting and other rights of the holders of our common stock. 

Warrants

As of December 31, 2021, there were outstanding warrants to purchase approximately 8 million shares of Class A common stock and an outstanding warrant to purchase approximately  4 million shares of Class A common stock.

Registration Rights

Holders of certain outstanding shares of our common stock are entitled to rights with respect to the registration of these shares under the Securities Act of 1933, as amended (the “Securities Act”). These rights are provided under the terms of our fifth amended and restated investors’ rights agreement (“IRA”) and include demand registration rights, Form S-3 registration rights, and piggyback registration rights. The registration of shares of our common stock by the exercise of registration rights described below would enable the holders to sell these shares without restriction under the Securities Act when the applicable registration statement is declared effective. The registration rights set forth in the IRA terminate upon the earlier to occur of (i) three years following the completion of our initial public offering, (ii) a Deemed Liquidation Event (as defined in the IRA) and (iii) with respect to any particular stockholder, such time such stockholder is able to sell all of its Registrable Securities (as defined in the IRA), without restriction pursuant to Rule 144 or another similar exemption during any three-month period without registration. We will pay the registration expenses (other than any underwriting discounts and selling commissions) of the holders of the shares registered for sale pursuant to the registrations described below, including the reasonable fees of one counsel for the selling holders not to exceed $50,000. However, we will not be required to bear the expenses in connection with the exercise of the demand registration rights of a registration if the request is subsequently withdrawn at the request of the selling stockholders holding a majority of securities to be registered. In an underwritten public offering, the underwriters have the right, subject to specified conditions, to limit the number of shares such holders may include.  

Demand Registration Rights

Certain holders of our common stock are entitled to certain demand registration rights. At any time beginning 180 days after the completion of our initial public offering, the holders of at least a majority of the shares subject to demand registration rights then outstanding can request that we register the offer and sale of their shares on a registration statement on Form S-1 if we are eligible to file a registration statement on Form S-1 so long as the request covers at least that number of shares with an anticipated offering price, net of underwriting discounts and commissions, of at least $100 million. We are obligated to effect only two such registrations. If we determine that it would be materially detrimental to us and our stockholders to effect such a demand registration, we have the right to defer such registration, not more than once in any 12-month period, for a period of up to 120 days. In addition, we will not be required to effect a demand registration during the period beginning 60 days prior to our good faith estimate of the date of the filing of and ending on a date 180 days following the effectiveness of a registration statement initiated by us. 

Form S-3 Registration Rights

Certain holders of our common stock are entitled to certain Form S-3 registration rights. The holders of at least 20% of the shares subject to Form S-3 registration rights then outstanding may make a written request that we register the offer and sale of their shares on a registration statement on Form S-3 if we are eligible to file a registration statement on Form S-3 so long as the request covers at least that number of shares with an anticipated offering price, net of underwriting discounts and commissions, of at least $25 million. These stockholders may make an unlimited number of requests for registration on Form S-3; however, we will not be required to effect a registration on Form S-3 if we have effected two such registrations within the 12-month period preceding the date of the request. If we determine that it would be materially detrimental to us and our stockholders to effect such a registration, we have the right to defer such registration, not more than once in any 12-month period, for a period 

of up to 120 days. In addition, we will not be required to effect a demand registration during the period beginning 30 days prior to our good faith estimate of the date of the filing of and ending on a date 90 days following the effectiveness of a registration statement initiated by us. 

Piggyback Registration Rights

If we propose to register the offer and sale of our Class A common stock under the Securities Act in connection with the public offering of such Class A common stock, certain holders of our common stock will be entitled to certain “piggyback” registration rights allowing the holders to include their shares in such registration, subject to certain marketing and other limitations, which, in the case of an underwritten offering, will be in the sole discretion of the underwriters. As a result, whenever we propose to file a registration statement under the Securities Act, other than with respect to (i) a registration related solely to a company stock plan, (ii) a registration relating to a corporate reorganization or transaction under Rule 145 of the Securities Act, (iii) a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the public offering of our Class A common stock, or (iv) a registration in which the only Class A common stock being registered is Class A common stock issuable upon the conversion of debt securities that are also being registered, the holders of these shares are entitled to notice of the registration and have the right, subject to certain limitations, to include their shares in the registration.

Anti-Takeover Provisions

The provisions of Delaware law, our amended and restated certificate of incorporation and our amended and restated bylaws could have the effect of delaying, deferring, or discouraging another person from acquiring control of the Company. These provisions, which are summarized below, may have the effect of discouraging takeover bids. They are also designed, in part, to encourage persons seeking to acquire control of us to negotiate first with our board of directors. We believe that the benefits of increased protection of our potential ability to negotiate with an unfriendly or unsolicited acquirer outweigh the disadvantages of discouraging a proposal to acquire us because negotiation of these proposals could result in an improvement of their terms. 

Delaware Law

We are subject to the provisions of Section 203 of the DGCL regulating corporate takeovers. In general, DGCL Section 203 prohibits a publicly held Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a period of three years following the date on which the person became an interested stockholder unless:

•prior to the date of the transaction, the board of directors of the corporation approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;

•the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, but not the outstanding voting stock owned by the interested stockholder, (1) shares owned by persons who are directors and also officers and (2) shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

•at or subsequent to the date of the transaction, the business combination is approved by the board of directors of the corporation and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least two-thirds of the outstanding voting stock that is not owned by the interested stockholder.

Generally, a “business combination” includes a merger, asset or stock sale, or other transaction or series of transactions together resulting in a financial benefit to the interested stockholder. An “interested stockholder” is a person who, together with affiliates and associates, owns or, within three years prior to the determination of interested stockholder status, did own 15% or more of a corporation’s outstanding voting stock. We expect the existence of this provision to have an anti-takeover effect with respect to transactions our board of directors does not approve in advance. We also anticipate that DGCL Section 203 may also discourage attempts that might result in a premium over the market price for the shares of common stock held by stockholders.

Amended and Restated Certificate of Incorporation and Amended and Restated Bylaw Provisions

Our amended and restated certificate of incorporation and our amended and restated bylaws contain provisions that could make the following actions and transactions, among others, more difficult: acquisition of us by means of a tender offer; acquisition of us by means of a proxy contest or otherwise; or removal of our incumbent officers and directors. It is possible that these provisions could make it more difficult to accomplish or could deter transactions that stockholders may otherwise consider to be in their best interest or in our best interests, including transactions that might result in a premium over the market price for our shares. These provisions, summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with our board of directors. We believe that the benefits of increased protection of our potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages of discouraging these proposals because negotiation of these proposals could result in an improvement of their terms.

Dual Class Stock

As described above in the subsection titled “Common Stock—Voting Rights,” our amended and restated certificate of incorporation provides for a dual class common stock structure, which provides our Founder and Chief Executive Officer with significant influence over all matters requiring stockholder approval, including the election of directors and significant corporate transactions, such as a merger or other sale of our company or its assets.

Undesignated Preferred Stock

The ability to authorize undesignated preferred stock makes it possible for our board of directors to issue preferred stock with voting or other rights or preferences that could impede the success of any attempt to effect a change in control of our company. These and other provisions may have the effect of deterring hostile takeovers or delaying changes in control or management of our company.

Special Stockholder Meetings

Our amended and restated bylaws provide that a special meeting of stockholders may only be called by an officer of our company pursuant to a resolution adopted by a majority of our board of directors then in office or the chairperson of our board of directors.

Stockholder Action by Written Consent

Our amended and restated certificate of incorporation provides that no action may be taken by our stockholders by written consent.

Requirements for Advance Notification of Stockholder Proposals and Nominations

Our amended and restated bylaws contain advance notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors, other than nominations made by or at the direction of the board of directors or a committee of the board of directors.

Classified Board; Election and Removal of Directors; Filling Vacancies

Our board of directors is divided into three classes, divided as nearly as equal in number as possible. The directors in each class serve for a three-year term, one class being elected each year by our stockholders, with staggered three-year terms. Only one class of directors will be elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms. Because our stockholders do not have cumulative voting rights, our stockholders holding a majority of the voting power of the then outstanding capital stock will be able to elect all of our directors. Our amended and restated certificate of incorporation provides for the removal of any of our directors only for cause and require a stockholder vote by the holders of a majority of the voting power of the then outstanding capital stock. Furthermore, our board of directors has the exclusive right to set the size of the board of directors, and any vacancy on our board of directors, however occurring, including a vacancy resulting from an increase in the size of the board, may only be filled by a resolution of the board of directors unless the board of directors determines that such vacancies will be filled by the stockholders. This system of electing and removing directors and filling vacancies may discourage a third party from making a tender offer or otherwise attempting to obtain control of us because it generally makes it more difficult for stockholders to replace a majority of the directors.

Forum Selection

Our amended and restated certificate of incorporation provides that, unless we consent in writing to the selection of an alternative forum, (A)(i) any derivative action or proceeding brought on behalf of us, (ii) any action asserting a claim of breach of a fiduciary duty owed by any of our current or former directors, officers, other employees or stockholders to us or our stockholders, (iii) any action asserting a claim arising pursuant to any provision of the DGCL, our amended and restated certificate of incorporation or amended and restated bylaws (as either may be amended or restated) or as to which the DGCL confers exclusive jurisdiction on the Court of Chancery of the State of Delaware, or (iv) any action asserting a claim governed by the internal affairs doctrine of the law of the State of Delaware shall, to the fullest extent permitted by law, be exclusively brought in the Court of Chancery of the State of Delaware or, if such court does not have subject matter jurisdiction thereof, the federal district court of the State of Delaware, and (B) the federal district courts of the United States shall be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act. Notwithstanding the foregoing, the exclusive forum provision shall not apply to claims seeking to enforce any liability or duty created by the Exchange Act. Our amended and restated certificate of incorporation also provides that, to the fullest extent permitted by law, any person or entity purchasing or otherwise acquiring or holding any interest in shares of our capital stock shall be deemed to have notice of and consented to the foregoing. By agreeing to this provision, however, stockholders will not be deemed to have waived our compliance with the federal securities laws and the rules and regulations thereunder.

Although our amended and restated certificate of incorporation and amended and restated bylaws contain the choice of forum provision described above, it is possible that a court could find that such a provision is inapplicable for a particular claim or action or that such provision is unenforceable. This choice of forum provision may limit a stockholder’s ability to bring a claim in a judicial forum that it finds favorable for disputes with us or any of our directors, officers, other employees, or stockholders, which may discourage lawsuits with respect to such claims, although our stockholders will not be deemed to have waived our compliance with federal securities laws and the rules and regulations thereunder.

Amendment of Amended and Restated Certificate of Incorporation Provisions

Any amendment of the above provisions in our amended and restated certificate of incorporation would require approval by holders of at least 66 2/3% of the voting power of all of the then outstanding capital stock entitled to vote generally in the election of directors, voting together as a single class. In addition, the affirmative vote of holders of at least 80% of the shares of Class B common stock outstanding at the time of such vote, voting as a separate series, is required to amend or repeal, or adopt any provision of our amended and restated certificate of incorporation relating to the rights and preferences of our common stock.

Limitations on Liability and Indemnification Matters

Our amended and restated certificate of incorporation provides that we will indemnify each of our directors and executive officers to the fullest extent permitted by the DGCL. We have entered into indemnification agreements with each of our directors and executive officers that may, in some cases, be broader than the specific indemnification provisions contained under Delaware law. Further, pursuant to our indemnification agreements and directors’ and officers’ liability insurance, our directors and executive officers are indemnified and insured against the cost of defense, settlement or payment of a judgment under certain circumstances. In addition, as permitted by Delaware law, our amended and restated certificate of incorporation includes provisions that eliminate the personal liability of our directors for monetary damages resulting from breaches of certain fiduciary duties as a director. The effect of this provision is to restrict our rights and the rights of our stockholders in derivative suits to recover monetary damages against a director for breach of fiduciary duties as a director. 

These provisions may be held not to be enforceable for violations of the federal securities laws of the United States. 

Stock Exchange Listing

Our Class A common stock is traded on the Nasdaq Global Select Market under the symbol “RIVN.”

Transfer Agent and Registrar

The transfer agent and registrar for our Class A common stock and Class B common stock is Computershare Trust Company, N.A.

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