Document:

Exhibit 4.2 

 

 

 

First Amendment to the

Separation and Other Covenants
Agreement

 

 

 

 

entered into by and between,

 

 

 

 

party of the first part:

 

 

Companhia Brasileira de Distribuição

 

 

 

 

 

and as party of the second part:

 

 

 

Sendas Distribuidora S.A.

 

 

 

JUNE 30, 2021

 

 

 

 

 

    	 

    	 

    

 

First Amendment to the

Separation and Other Covenants
Agreement

 

Hereby,

 

(1)           
Companhia Brasileira de Distribuição, a publicly held corporation
incorporated in the Federative Republic of Brazil, headquartered in the Capital City of Sao Paulo, State of Sao Paulo, Brazil, at Avenida
Brigadeiro Luiz Antônio, No. 3142, Jardim Paulista district, registered with the Corporate Taxpayers' Roll (CNPJ/ME) under No. 47.508.411/0001-56,
herein represented by its legal representatives ("CBD"); and

 

(2)           
Sendas Distribuidora S.A., a corporation incorporated in the Federative Republic
of Brazil, headquartered in the Capital City of Rio de Janeiro, State of Rio de Janeiro, Brazil, at Avenida Ayrton Senna, No. 0600, Jacarepaguá
district, registered with the Corporate Taxpayers' Roll (CNPJ/ME) under No. 06.057.223/0001-71, herein represented by its legal representatives
("Sendas").

 

CBD and Sendas are hereinafter collectively referred to as “Parties”,
and individually and indistinctly as “Party”.

 

Whereas:

 

(A)          
On December 14, 2020, the Parties executed a split-up agreement known as Separation and Other Covenants Agreement (the "Agreement")
to, in the context of the Separation of Businesses, which sets forth the terms and conditions to govern their relationship both before,
during, and after all corporate and business transactions are carried out, hence Sendas ceased to be a company controlled by CBD and the
Parties started to operate in a totally independent manner;

 

(B)          
As provided in clause 2.4. of such Agreement, the Separation of Businesses took effect after the Effective Date of the Split-up
(i.e., December 31, 2020, same date on which the extraordinary general meetings of the Parties approving the Split-up were held);

 

(C)           Pursuant
to clause 5.3 of said Agreement, the Parties have made efforts to release, replace and/or otherwise remove the Guarantees in the
corresponding agreements within a period of up to 6 months from the Effective Date of the Spin-off, under penalty of, pursuant to
clause 5.3.2, paying to the Guarantor, from the 6th month after the Effective Date of the Spin-off, as remuneration for the
Guarantee, a monthly Fee in the amount equivalent to the lowest business offer received from at least 3 first-tier banks and/or
insurance companies applied monthly to the outstanding balance of the Guarantees not replaced or released and, if the Guarantee
remains in force after the period of 18 months from the Effective Date of
the Spin-off, such Fee will be increased by 20%;

    	 

    	 

    

 

(D)          
After the Effective Date of the Spin-off, a Transition Committee was established pursuant to clause 5.1.1 of the Agreement to coordinate
the activities related to the Separation of Businesses, with powers to take every and any decisions on behalf of the Parties that do not
depend on approval of their corresponding boards of directors or shareholders' meeting;

 

(E)          
In view of the number of contracts of each Party and the progress of negotiations with the counterparties, as widely discussed
in the Transition Committee, the Parties intend to change the conditions provided for in clause 5.3 of the Agreement;

 

(F)           
Pursuant to the Policies for Transactions with Related Parties of the Parties, the corresponding competent corporate bodies approved
such amendment, upon execution of an amendment to the Agreement.

 

Now, therefore, the Parties RESOLVE to
enter into this First Amendment to the Separation and Other Covenants Agreement (the "Amendment"), which shall be governed
by the mutually agreed terms and conditions below.

 

		1.	Definitions in this Amendment

 

1.1.         
All expressions used in capital letters in this Amendment shall have the meanings assigned to them in the Agreement, unless otherwise
expressly stated herein.

 

		2.	Changes to the Agreement

 

2.1.         
The Parties hereby decide to amend clauses 5.3. and 5.3.2. to reflect the extension of the deadlines provided for in 06 (six) months,
which may be extended for an additional period of 06 (six) months upon agreement of the Parties. Thus, such clauses hereinafter become
effective with the following wording:

 

“5.3. Release of Guarantees The
Party that has any of its obligations or Liabilities, or the obligations and Liabilities of its Subsidiaries ("Guaranteed Party"),
guaranteed at any title (whether financial guarantees or not) by the other Party and/or by any of its corresponding Subsidiaries (a "Guarantor"),
hereby undertakes, with the reasonable cooperation of the Guarantor, to make business reasonable efforts to release, replace and/or in
any way remove the Guarantor from the position or capacity of guarantor, co-obligee, warrantor, sponsor, or subsidiary or joint debtor
(the "Guarantee") as regards any Liabilities of the Guaranteed Party, including the removal of any Liens on any property
and/or assets of the Guarantor that may serve as Guarantee of any Liabilities of the Guaranteed Party, within a period of up to 12 (twelve)
months from the Effective Date of the Spin-off, subject to the provisions
of Clause 5.3.2, and such term may be extended for another 06 (six) months upon the agreement of the Parties.

    	 

    	 

    

 

(...)

 

5.3.2. If CBD or Sendas, justifiably, cannot
obtain, or cause to be obtained, any removal or release of the Guarantee as provided for in Clauses 5.3 and 5.3.1, within
the period set forth in Clause 5.3, the Guaranteed Party shall (i) pay every month to the Guarantor, from the 12th (twelfth) month
after the Effective Date of the Spin-off [or from the 18th (eighteenth) month after the Effective Date of the Spin-off, if the Parties
have decided to extend the initial term for another 06 (six) months, pursuant to clause 5.3], on the 15th (fifteenth) Business Day of
each month falling due (being clear that the first payment will be due in the 14th (fourteenth) month after the Effective Date of the
Spin-off for the immediately preceding month, or due in the 20th (twentieth) month after the Effective Date of the Spin-off if the Parties
have decided to extend the initial term for another 06 (six) months, pursuant to clause 5.3), as remuneration for the Guarantee, an amount
equivalent to the lowest business offer received from at least 3 (three) first-tier banks and/or insurers applied every month to the outstanding
balance of the Guarantees not replaced or released ("Fee") and, if the Guarantee remains in force after the period of
24 (twenty-four) months from the Effective Date of the Spin-off [or after a period of 30 (thirty) months from the Effective Date of the
Spin-off if the Parties have decided to extend the initial period for another 06 (six) months pursuant to clause 5.3], the Fee will be
increased by 20% (twenty per cent); (ii) indemnify, defend, and exempt from liability the Guarantor against such Guarantee or against
any Liabilities arising out of or connected to such Guarantee, and shall, as agent or subcontractor of the Guarantor, fully comply with
all obligations or other Liabilities of the Guarantor under the corresponding Guarantee; and (iii) refrain from renewing or extending
the time term or the scope of any Liabilities of any nature, whether in the form of a loan, guarantee, lease, contract or other obligation
for which the Guarantor is or may be liable, unless if the Guarantor is finally and completely released from all its obligations as a
result of and/or in connection with the corresponding Guarantee.”

 

		3.	Ratifications and Consolidation

 

All other provisions, clauses, and conditions
of the Agreement hereby amended that are not expressly changed by this Amendment remain in full force, unchanged, and ratified .

 

In witness whereof, the Parties hereby electronically
sign this Amendment before the 2 (two) undersigned witnesses.

 

[the remaining of this page was intentionally
left blank]

    	 

    	 

    

 

[Signatures page of the First Amendment
to the Separation and Other Covenants Agreement]

 

 

Sao Paulo, June 30, 2021

 

	
    /s/ Jorge Faiçal Filho

    Jorge Faiçal Filho

    Chief Executive Officer
	
    /s/ Guillaume Gras

    Guillaume Gras

    Chief Financial Officer

__________________________________________________

Companhia Brasileira de Distribuição

 

	
    /s/ Belmiro de Figueiredo Gomes

    Belmiro de Figueiredo Gomes

    Chief Executive Officer
	
    /s/ Daniela Sabbag Papa

    Daniela Sabbag Papa

    Chief Financial Officer

__________________________________________________

Sendas Distribuidora S.A.

 

 

 

 

Witnesses:

 

 

	1. /s/ Geovani de Sousa	 	2. /s/ Maira Elian de Melo Silva
	Name: Geovani de Sousa	 	Name: Maira Elian de Melo Silva
	ID Card (RG): 	 	ID Card (RG):
	CPF [Tax ID] number:	 	CPF [Tax ID] number:Exhibit 4.1 

 

Xinyi Transport Investment Co., Ltd. and

 

Beijing REIT Technology Development Co., Ltd.

 

Establish

 

REIT New Material Xinyi Co., Ltd.

 

(Contract number: xyrt-2014-10-001)

 

November 2014

 

     

     

    

 

Party A: Xinyi City Transportation Investment
Co., Ltd.

Business license registration number: 320300000232978

Registration address: Fifth Floor, Transportation
Building, Zhongwu South Road, Xinyi City

Legal representative: Yonghao Huang

 

Party B: Beijing REIT Technology Development
Co., Ltd.

Business license registration number: 110105000401394

Registration address: No. 208, No. 208, No. 208,
Xingxing Industrial Zone, Chaoyang District, Beijing, Beijing

Building 6th Floor Room 1611

Legal representative: Hengfang Li

 

According to the relevant national laws, regulations,
and Ruitu Holdings (China) Co., Ltd. (China) Co., Ltd. (Party B's parent company) and Xinyi Lingang Industrial Park project cooperation
framework agreement, under the principle of honesty and trustworthiness, mutual benefit, both parties to B REIT New Material Xinyi Co.,
Ltd. (specifically the industry and commerce departments' name, hereinafter referred to as "target company"), establish a contract.

 

Article 1 The scope and period of the company's
business

 

1. The business scope of the target company is:
the research and development, production and sales of environmental protection building materials required by various construction, municipal
engineering, water conservancy projects, and road engineering, the development and consultation of new building materials technology,
engineering construction, the construction of circular economy industrial parks and the construction of circular economy industrial parks
and the construction of circular economic industrial parks Management management, new building materials e -commerce business, environmental
protection equipment development and manufacturing, new materials development and production.

 

2. The business period of the target company is:
Long -term

 

Article 2 Company residence

 

The statutory residence of the target company
should be Linang Industrial Park, Xinyi City, Jiangsu Province.

 

Article 3: The organizational form of the company's
organizational form is:

limited liability company.

 

Article 4 The basic situation of the project

 

The project is divided into two phases. The first
phase is mainly concentrated in the production of ecology, environmental protection building materials, and high -purity quartz sand:
the total investment of the project is about 1.1 billion yuan, producing 1 million cubic meters of new building materials, 800,000 square
meters of high -quality imitation marble ground Materials, 1.2 million cubic -cubic -cubic -cubic commercial concrete and asphalt concrete,
1 million tons of nano -active micro powder, 1 million tons of high -purity quartz sand, and the manufacturing and R & D base of environmental
protection equipment, the project covers an area of about 500 acres. The second phase of expansion of new building materials e -commerce
and logistics parks and other businesses.

 

    2

     

    

 

Article 5 Capital contribution and method of
capital contribution

 

1. Both parties A agreed that they jointly invested
RMB 10 million to register for the establishment of a target company; Party A shall subscribe to RMB 30 million in contributions and hold
30%of the target company; Party B shall subscribe to RMB 70 million in the target company.

 

2. Party A uses its legal holding of 310 acres
of land use rights for RMB 30 million for accounting for 30%of the shares.

 

3. Party B invested RMB 70 million in its legitimate
equipment and cash investment, accounting for 70%of the shares.

 

4. Party A shall complete the capital contribution
within 3 months from the date of the registration of the target company, and will change the right to use the land use right to the target
company; Party B shall complete the funding within 3 months from the date of registration of the target company. The currency capital
contribution shall be deposited in the basic account of the target company. The relevant rights of equipment and technology contribution
are changed to the target company name.

 

6. Both parties A and B should ensure that the
equipment, technology, and land have complete property rights, and there is no form of mortgage and pledge in any form. The adverse consequences
of this should be borne by their own.

 

7. Both parties to the contract must go to the
company's registration authority to apply for registration or filing in a timely manner.

 

Article 6 Company registration

 

1. Both parties A and B agreed to designate Party
B as the applicant to apply for the company's name for the company's name and registration of the company's registered authority, and
the company's establishment registration. Party A must cooperate.

 

2. Both parties A and B shall ensure the authenticity,
legality, and effectiveness of the documents and documents submitted to the company's registration authority.

 

3. If any party fails to pay the funding in accordance
with the agreement agreed on this contract, in addition to replenishing the capital contribution to the target company, it shall also
be liable for compensation for the losses caused by the non -timely capital contribution.

 

4. After the target company is successfully established,
both parties A agreed to include the costs recognized by both parties incurred by the target company in the opening fee of the target
company, and the target company after the establishment was borne.

 

5. When the application for the establishment
of a company can no longer reflect the original wishes of the contract, the two parties can stop applying for the establishment of a company.

 

Article 7 Profit sharing and losses sharing

 

1. The cooperation between the two parties entrust
Party B to be fully responsible for the construction and operation of the project, and Party A does not participate in the specific management
and operation of the enterprise.

 

2. The target company will be the target company's
construction period within eighteen months from the date of establishment. During this period, both parties and B will not participate
in the profit distribution of the target company.

 

    3

     

    

 

3. After the construction period expires, Party
A shares profits (that is, 10%of Party A's capital capital amount) every year. If the target company's annual normal income cannot guarantee
Party A's 10%income, Party B will make up the difference between Party A's income.

 

Article 8 Company organizational structure

 

1. The target company fully operates and manage
in accordance with the system of modern enterprise. The board of directors consists of five directors, including 2 of them, Party B recommends
3, the company's chairman is held by Party B, and the vice chairman is recommended by Party A.

 

2. The Board of the target company consists of
three supervisors, Party A recommends 1 person, and Party B recommends 2 people. The chairman of the company is recommended by Party A.

 

3. The specific functions of the board of directors
and the board of supervisors shall be stipulated by the company's articles of association.

 

4. 1 general manager of the company, recommended
by Party B, and the setting of other management agencies according to the modern enterprise management system and corporate articles of
association.

 

Article 9 Special agreement

 

1. The land use right invested by Party A is used
for the production and operation of the target company and the financing mortgage used for the production and operation of the target
company. Both parties and such as the use of the land and the transfer of the land need to agree.

 

2. After two years of normal operation of the
target company, Party A has the right to request Party B to acquire the equity of the target company they hold. Party B shall agree to
the acquisition. After the acquisition was completed, Party A withdrew from the target company.

 

3. Party A provides two loading and unloading
berths for the target company in the area where the Xinyi Port project is in, and gives ten years of reduction and exemption for ten years
and the market rental price according to the market rental price.

 

Article 10 All parties and obligations and
obligations

 

1. Party A agrees to coordinate the municipal
government to list the project as a key project, and to assist the target company to complete the project's project, ensure that the project's
hydropower system access the red line of the park, and assist enterprises to complete the project's environmental assessment, construction
planning permit, construction permit and other procedures Essence

 

2. Party A ensures that the land is legally transferred
to the target company name, and assists the target company to go through the relevant mortgage loan procedures to assist the company to
make financing for further development.

 

3. Party A is responsible for assisting the target
company's raw materials required for the project required for the project, quartz sand (annual mining 1 million tons), ordinary sand and
gravel (an annual mining 1 million cubic cubic cubic meter) mining license and related procedures.

 

4. Party A actively coordinated relevant departments
to actively support the promotion and application of new environmental protection building materials in Xinyi. In principle, under the
same conditions, government engineering priority uses target company products.

 

5. Party A strives for the target company to enjoy
the relevant preferential policies and support policies of investment promotion of Xinyi City and Jiangsu Province. If necessary, you
can take a method of discussion to solve the problems encountered by the target company.

 

6. Party B ensures that the target company is
registered in Xinyi City and pays relevant taxes and fees to the local area. The land use of the project shall not change the nature and
use of the land without authorization. Land guarantee for other parties.

 

    4

     

    

 

7. Party B is responsible for the technical advanced
nature of the project and is responsible for introducing the advanced technology that it has to be introduced to the park, and cooperating
with its technical partners to establish a new types of building materials and equipment in the park

 

8. The construction of the project and the construction
of supporting facilities must meet the overall planning of the Xinyi Municipal Government and the Lingang Industrial Park, and meet the
requirements of environmental protection, energy conservation, and fire protection.

 

9. Data, information and reports provided by all
parties to both parties in accordance with this contract should be processed confidential. Without the consent of both parties and B,
either party should not leak any content to this contract unrelated individual or organization, unless it is to sell products and other
attached incidents.

 

Article 11 Liability for breach of contract

 

1. Those who do not pay the target company on
time in accordance with the agreement of this contract shall be deemed to be a breach of contract; the breach of the contract shall pay
the corresponding liquidated damages to the contractor in accordance with the capital, until it is corrected.

 

2. Due to the fault of one party, when the daily
contract cannot be fulfilled or cannot be fully performed, the loss of the wrong party shall bear the loss caused by the behavior.

 

Article 12 Assignment

 

1. The settlement, effectiveness, interpretation,
performance, and disputes of this contract are applicable to relevant laws of the People's Republic of China.

 

2. This contract has not been done, and it is
implemented as a supplementary contract supervision after negotiation and determination. In the process of fulfilling the contract, if
there is controversy, all parties should be friendly and negotiated. If you fail to solve it through friendly consultation, any lawsuit
can be filed with the court of the local court where the target company is located.

 

3. An additional contract signed by both parties
and B can be used as the appendix of the contract and has the same effect.

 

Article 13 Others

 

There are four parts of the contract, and both
parties in A and B each hold two copies. The contract takes effect from the date of signing. Four copies have the same legal effect.

 

Party A (Seal): Xinyi City Transportation Investment
Co., Ltd.

/stamp/ Xinyi City Transportation Investment Co.,
Ltd.

Legal Representative or Authorized Person (Signature):
/s/ Yonghao Huang

November 17, 2014.

 

Party B (Seal): Beijing REIT Technology Development
Co., Ltd.

/stamp/ Beijing REIT Technology Development Co.,
Ltd.

Legal Representative or Authorized Person (Signature):
/s/ Hengfang Li

November 17, 2014.

 

Executed Location: Xinyi City

 

 

5

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