Document:

cnv_Ex4_65

		

			 

		

		
			Exhibit 4.65
		

		
			 
		

		
			"PURCHASING SYNERGIES" CONTRACT
		

		
			 
		

		
			 
		

		
			BY AND BETWEEN
		

		
			 
		

		
			CDISCOUNT, a société anonyme incorporated under French law with a share capital of EUR 5,162,154.62 and with registered office at 120-126 Quai de Bacalan 33000 BORDEAUX, entered in the BORDEAUX Trade and Companies Register under number 424 059 822, represented by Mr Emmanuel GRENIER, duly authorised to enter into this contract,
		

		
			 
		

		
			Hereinafter called "Cdiscount";
		

		
			 
		

		
			AND
		

		
			 
		

		
			DISTRIBUTION CASINO FRANCE, a société par actions simplifiée incorporated under French law with a share capital of EUR 106,758,801.00 and with registered office at 1 Esplanade de France, 42000 Saint-Etienne, entered in the Saint-Etienne Trade and Companies Register under number 428 268 023,
		

		
			Represented by Mr Gérard WALTER, duly authorised to enter into this contract,
		

		
			 
		

		
			Hereinafter called "DCF",
		

		
			 
		

		
			Both hereinafter called individually the "Party" and jointly the "Parties".
		

		
			 
		

		
			WHEREAS:
		

		
			 
		

		
			Cdiscount, a subsidiary of the Casino Group, has become the leader in the e-distribution of non-food products in France, thanks, in particular, to its website www.cdiscount.com.
		

		
			 
		

		
			DCF, also a subsidiary of the Casino Group, operates physical distribution networks which are predominantly food-focussed, but it is also present on certain non-food markets.
		

		
			 
		

		
			Since 2009, DCF and Cdiscount have been implementing purchasing synergies to pool their purchasing volumes and to offer corresponding benefits to their mutual suppliers (hereinafter "Suppliers").
		

		
			 
		

		
			Given, firstly, the proportional contribution that Cdiscount now makes to the pooled purchasing volumes in relation to non-food products and, secondly, the leverage effect thus created in terms of negotiations with suppliers, the parties have agreed that it would now be appropriate for DCF to remunerate Cdiscount for the increased levels of purchases that the businesses operated by DCF are enjoying thanks to Cdiscount's decisive position and positive growth.
		

		
			 
		

		
			NOW, THEREFORE, THE PARTIES HAVE AGREED AS FOLLOWS:
		

		
			 
		

		
			
		

		
			

		 

		

			1

		

 

		

			 

		

ARTICLE 1. OBJECT
		

		
			 
		

		
			The object of this contract (hereinafter the "Contract") is to set out the terms and conditions under which DCF will remunerate Cdiscount for the increased levels of purchases in relation to non-food products which the businesses operated by DCF are enjoying thanks to the considerable size of non-food purchasing volumes and to Cdiscount's positive growth.
		

		
			 
		

		
			ARTICLE 2 - TERM OF THE CONTRACT
		

		
			 
		

		
			The Contract will commence on 1 January 2015 and will have an initial fixed term of ten (10) years (hereinafter the "Initial Term").
		

		
			 
		

		
			It will be automatically renewed for subsequent periods of five (5) years, unless either of the Parties notifies the other Party, by registered letter with acknowledgement of receipt, of its intention to terminate the contract subject to giving a notice period of two (2) years.
		

		
			 
		

		
			ARTICLE 3 - PRESENTATION OF THE "PURCHASING SYNERGY"
		

		
			 
		

		
			The Parties will, each year, identify their mutual Suppliers.
		

		
			 
		

		
			Each year, they will negotiate the conditions for buying Products from Suppliers, regardless of the supply channel (delivery ex warehouse or direct delivery to sales outlet), based on the general terms and conditions of sale drawn up and notified by the Supplier, which represent the sole basis for the commercial negotiations, and will negotiate in particular (i) the Supplier's prices, (ii) price reductions such as discounts and rebates, (iii) discounts for early payment, and (iv) payment terms, such as payment periods and late payment penalties. In return, they will offer quantitative and qualitative conditions and services to Suppliers.
		

		
			 
		

		
			On conclusion of the negotiations, the Parties will sign an annual contract with each mutual Supplier formalising the purchasing conditions obtained through the pooling of their respective volumes.
		

		
			 
		

		
			ARTICLE 4 - FINANCIAL CONDITIONS
		

		
			 
		

		
			4.1 PRESENTATION OF ACCOUNTS
		

		
			 
		

		
			By no later than 5 working days before the end of each quarter, DCF will send CD the amount of orders that have been invoiced by the Suppliers over the past quarter, including an estimate for the 5 purchasing days in progress, based on which the remuneration determined in accordance with Article 4.2 will be applied. Any difference between the estimated and actual values with respect to the 5 remaining purchasing days will be settled in the invoice for the following quarter.
		

		
			 
		

		
			
		

		
			

		 

		

			2

		

 

		

			 

		

4.2 COMMISSION
		

		
			 
		

		
			In return for the increased levels of purchases obtained by DCF on the basis of the volumes obtained and notified in accordance with Article 4.1 above, DCF will pay Cdiscount a fair remuneration determined as follows:
		

		
			 
		

			
	
			
				 -
			

			
	
			
			if the proportional contribution made by DCF to the pooled purchasing volume made by DCF and Cdiscount with the Suppliers is strictly greater than 35% of that volume, no remuneration will be owed;

			
	
			
				 -
			

			
	
			
			if the proportional contribution made by DCF to the pooled purchasing volume made by DCF and Cdiscount with the Suppliers is between 20% and 35% of that volume, Cdiscount's remuneration will be 0.7% of the purchasing volume excluding VAT (3x net) made by DCF with the Suppliers;

			
	
			
				 -
			

			
	
			
			if the proportional contribution made by DCF to the pooled purchasing volume made by DCF and Cdiscount with the Suppliers is strictly less than 20%, Cdiscount's remuneration will be 1.5% of the purchasing volume excluding VAT (3x net) made by DCF with the Suppliers.

		
			 
		

		
			4.3 PAYMENT TERMS
		

		
			 
		

		
			Cdiscount will draw up quarterly invoices.
		

		
			 
		

		
			By no later than 30 March of year n+1, DCF will send Cdiscount the volume of business placed with the Suppliers. In the event of discrepancy with the quarterly statements, the Parties will make any necessary adjustment in the next invoice.
		

		
			 
		

		
			Invoices will be payable by bank transfer within 45 days (end of month) of the date on which the invoice is received.
		

		
			 
		

		
			If the sums owed by DCF are not paid on the contractual due dates for a reason not attributable to CDISCOUNT, the latter may automatically charge late payment interest at the rate of three times the legal interest rate on the sums owed with effect from the contractual due dates plus a fixed charge of EUR 40.00 by way of recovery costs.
		

		
			 
		

		
			4.5 COMMISSION REVIEW
		

		
			 
		

		
			The Parties agree to meet every two years as from 1 January 2018 in order to ensure that the amount of the commission remains consistent with similar market practices. If the commission is no longer consistent, the Parties agree to renegotiate in good faith the amount of the commission payable under the Contract, taking into account market practices at the time of renegotiation.
		

		
			 
		

		
			The Parties will begin these negotiations during the first quarter and they must be completed by 31 March.
		

		
			 
		

			
	
			
				 -
			

			
	
			
			If the Parties are able to agree on the new commission to be applied, that commission will apply as from 1 January of the current year.

			
	
			
				 -
			

			
	
			
			If the Parties are unable to agree on the new commission, the latter will be determined by an expert, appointed by mutual agreement between the Parties or, if they are unable to agree, by the President of the Paris Commercial Court, acting at the request of either Party.

		
			 
		

		
			The new commission thus determined will apply as from 1 January of the current year.
		

		
			 
		

		
			
		

		
			

		 

		

			3

		

 

		

			 

		

If the Parties have not started renegotiations within the time periods specified above, they will enter into renegotiations at a later date and make adjustments for the corresponding year elapsed.
		

		
			 
		

		
			ARTICLE 5. EARLY TERMINATION
		

		
			 
		

		
			DCF has the right to terminate this Contract early, subject to giving 3 months' notice sent by registered letter with acknowledgement of receipt, if the proportional contribution made by Cdiscount to the purchasing volumes falls below [sentence incomplete].
		

		
			 
		

		
			ARTICLE 6 - CONFIDENTIALITY
		

		
			 
		

		
			The Parties agree to treat as confidential and to maintain the confidentiality of all information supplied by the other Party as well as information to which they may have had access, directly or indirectly, on account of the performance of the Contract, regardless of the form and/or medium of such disclosure or manner in which the information was learned (hereinafter "Confidential Information").
		

		
			 
		

		
			Confidential Information includes, without limitation, all technical, financial, economic, commercial, legal and other information concerning the Parties and, where applicable, their customers.
		

		
			 
		

		
			The Parties agree to treat all Confidential Information exchanged with the same level of care as their own Confidential Information, and are prohibited from disclosing that Confidential Information, in any form, in any capacity and to any person whatsoever, and likewise agree to take all necessary measures to ensure compliance on the part of their staff and/or partners of any kind, whether permanent or casual.
		

		
			 
		

		
			The Parties undertake, within a period not exceeding fifteen (15) days following the cessation of the Contract, howsoever arising, to return all documents handed over by the other Party upon the conclusion and/or during the performance of the Contract.
		

		
			 
		

		
			It is expressly agreed that this article will remain in force even after the expiry or termination of the Contract, howsoever occurring.
		

		
			 
		

		
			The confidentiality undertaking does not apply to information that:
		

		
			 
		

			
	
			
				 -
			

			
	
			
			is known by the Parties and which they are able to prove that they found out by themselves or from a third party other than one of the Parties before the signing of the Contract,

			
	
			
				 -
			

			
	
			
			is in the public domain or which enters into the public domain during the performance of the Contract other than through the action or omission of one of the Parties and/or staff and/or partners of any kind, whether permanent or casual,

			
	
			
				 -
			

			
	
			
			is required to be disclosed by law or regulation.

		
			 
		

		
			ARTICLE 9 - GENERAL
		

		
			 
		

		
			9.1. Personal nature
		

		
			The Contract is strictly personal to the Parties and cannot be assigned, contributed or transferred, in any form whatsoever, without the prior written consent of the other Party, which will never be compelled to give such consent.
		

		
			 
		

		
			
		

		
			

		 

		

			4

		

 

		

			 

		

9.2. Independence
		

		
			The terms of the Contract cannot be construed as making one Party the agent or representative of the other Party. The intention to form a company is formally excluded. Each of the Parties is acting in its own interest and retains its own independence.
		

		
			 
		

		
			Therefore:
		

		
			 
		

			
	
			
				 ·
			

			
	
			
			neither of the Parties can make a commitment for and/or on behalf of the other;

			
	
			
				 ·
			

			
	
			
			each of the Parties agrees not to do anything that may mislead a third party in that regard or make any commitment or offer any guarantee on behalf of the other Party.

			
	
			
				 ·
			

			
	
			
			each of the Parties remains solely responsible for its acts, allegations, commitments, services, products and staff and for the consequences thereof with respect to the other Party and/or third parties.

		
			 
		

		
			9.3. Whole Contract
		

		
			The Contract contains the whole of the agreements between the Parties with respect to the object hereof. It supersedes any agreements, commitments, discussions or negotiations entered into previously by the Parties, whether orally or in writing. No amendments to this Contract can be made other than by means of a written document signed by a duly authorised representative of each of the Signatories, with express reference being made to the Contract.
		

		
			 
		

		
			9.4. Nullity
		

		
			If, for any reason whatsoever, any of the stipulations of the Contract is deemed null and void by a competent court, the remainder of the Contract will be unaffected.
		

		
			However, if the nullity or inapplicability of a clause in the Contract substantially alters its legal and/or economic equilibrium, the Parties agree to meet in order to replace that clause with a valid clause that is as close as possible to it from both a legal and economic perspective.
		

		
			 
		

		
			9.5. Applicable law and Jurisdiction
		

		
			This Contract is governed by French law.
		

		
			Any dispute in relation to the interpretation, performance or validity of this Contract will, if it cannot be settled amicably, be subject to the exclusive jurisdiction of the Paris courts.
		

		
			 
		

		
			Executed at Bordeaux, 30 June 2015.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						  

					
					
						  

					
					
						 

				
	
					
						For CDISCOUNT

					
					
						 

					
					
						 

					
					
						For DISTRIBUTION CASINO France

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Emmanuel GRENIER, CEO

					
					
						 

					
					
						 

					
					
						Gérard WALTER, CEO

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				

		
			 
		

		 

		

			5cnv_Ex4_66

		
			Exhibit 4.66
		

		
			 
		

		
			OPERATIONAL SERVICES AGREEMENT
		

		
			 
		

		
			This operational services agreement (the "Agreement"), dated as of March 27, 2015 (the "Effective Date"), is entered into by and between:
		

		
			 
		

		
			Almacenes Exito S.A., a corporation organized and existing under the laws of the Republic of Colombia, with its principal place of business at Carrera 48 No. 32B Sur 139, Envigado, Antioquia, Colombia ("Exito"), represented by Carlos Mario Diez Gómez, of legal age, identified as announced with his signature, acting as Retail Vice-President of Exito, on the one part, and
		

		
			 
		

		
			Cdiscount Colombia S.A.S., a corporation organized and existing under the laws of the Republic of Colombia, with its principal place of business at Carrera 48 No. 32B Sur 29, Envigado, Antioquia, Colombia ("CDiscount Colombia"), represented by Stefan Tobias Krautwald, of legal age, identified as announced with his signature, acting as Legal Representative of CDiscount Colombia, on the other part.
		

		
			 
		

		
			Exito and CDiscount Colombia are hereinafter individually referred to as a "Party" and collectively as the "Parties".
		

		
			 
		

		
			RECITALS
		

		
			 
		

		
			WHEREAS, Exito is a company engaged in the retail business, operating hypermarkets in the Republic of Colombia, wherein goods ranging from packaged foods and perishables to electronics and furniture, are sold.
		

		
			 
		

		
			WHEREAS, CDiscount Colombia is a company formed with the purpose of developing and operating an e-commerce business in Colombia.
		

		
			 
		

		
			WHEREAS, CDiscount Colombia is a jointly owned affiliate of Exito and of Cdiscount International BV and Cnova N.V., corporations incorporated and existing under the laws of the Netherlands, having its principal place of business at Eindhoven, the Netherlands ("CDiscount International" and "Cnova" respectively).
		

		
			 
		

		
			WHEREAS, on the 14th November 2014, Exito, CDiscount International and Cnova signed a Shareholders Agreement whereby the parties defined the terms and conditions for the launch and operation of the Cdiscount platform for running an e-commerce activity in the Republic of Colombia through CDiscount Colombia (herein after the "Business"), pursuant to which, among other things, Exito agreed to enter into an agreement with CDiscount Colombia that will cover the following services provided by Exito to CDiscount Colombia: (i)  purchase; (ii) logistics; (iii) shipping (including pick up point services); (iv) back-office IT License and maintenance; and (v) the following
		

		
			 
		

		
			
		

		
			

		 

		

			Page 1 of 12

		

 

back offices services: accounting, audit, legal and human resources, real estate management and marketing;
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows:
		

		
			 
		

		
			1.          DESCRIPTION OF SERVICES
		

		
			 
		

		
			The services to be rendered by Exito to the benefit of CDiscount Colombia performed in a professional and independent manner, are those described and detailed in Schedule A (the "Services").
		

		
			 
		

		
			2.          PRICE AND PAYMENT
		

		
			 
		

		
			The prices for each Service shall be determined on an arm's length bases, according to the rules provided in Schedule A.
		

		
			 
		

		
			Each invoice shall contain the detailed list of the Service rendered by Exito to CDiscount Colombia and the corresponding price according to the rules set-up in Schedule A.
		

		
			 
		

		
			Exito shall invoice Services monthly. Payment terms shall within 10 following days of issuance of the invoice.
		

		
			 
		

		
			The Parties agree to meet once per year at latest on the 1st of December in order to review and approve Services' prices that will be applied by Exito for the following year according to the rules provided in Schedule A.
		

		
			 
		

		
			If the Agreement is terminated by either Party in accordance with Section 3 herein, Exito will be paid for any Services rendered during the notice period during which the termination occurred. Exito acknowledges and agrees that, unless specifically provided in this Agreement, Exito shall not be entitled to any additional payments or compensation. All applicable taxes and contributions arising from or related to the performance of the Services or any payments made by CDiscount Colombia to Exito pursuant to this Agreement shall be the sole and exclusive responsibility of Exito.
		

		
			 
		

		
			All payments, to be made by CDiscount Colombia to Exito, or its designee's bank accounts, as appointed by Exito, shall be done by means of an electronic bank transfer, or as otherwise agreed by the Parties.
		

		
			 
		

		
			3.          TERM, EFFECTIVENESS AND TERMINATION
		

		
			 
		

		
			3.1.  The term of this Agreement shall commence on the Effective Date and shall remain in force:
		

		
			 
		

		
			-      For one year, with tacit renewals for successive periods of one year, unless terminated by Exito with six (6) months prior written notice sent to CDISCOUNT COLOMBIA Colombia.
		

		
			 
		

		
			3.2.  CDiscount Colombia or Exito may terminate partially or totally this Agreement with a prior
		

		
			 
		

		
			
		

		
			

		 

		

			Page 2 of 12

		

 

written notice of six months sent to Exito.
		

		
			 
		

		
			3.3.  Each Party shall have the right to terminate this Agreement if the other Party commits a material breach of this Agreement and such breach has not been cured within thirty (30) business days of receipt of written notice of such breach.
		

		
			 
		

		
			4.         RELATIONSHIP BETWEEN THE PARTIES
		

		
			 
		

		
			Exito represents that it is an independent contractor under all applicable laws and acknowledges that CDiscount Colombia is relying upon this representation. Neither Exito nor Exito's staff is or shall be deemed to be employed by CDiscount Colombia. CDiscount Colombia is contracting with Exito for the Services and Exito reserves the right to determine the method, manner and mean by which the Services will be performed. Exito is not required to perform the Services during a fixed hourly or daily time and if the Services are performed at CDiscount Colombia's premises, then Exito's time spent at the premises is to be at the discretion of Exito, subject to CDiscount Colombia's normal business hours and security requirements. Exito hereby confirms to CDiscount Colombia that CDiscount Colombia will not be required to furnish or provide any training to Exito to enable Exito to perform Services required hereunder. Services shall be performed by Exito or Exito's staff, and CDiscount Colombia shall not be required to hire, supervise or pay any employees, agents, assistants or other individuals to help Exito perform the Services under this Agreement. The order or sequence in which the work is to be performed shall be under the control of Exito. All materials used in providing the Services shall be furnished by Exito.
		

		
			 
		

		
			Subject to CDiscount Colombia's obligation to make full and timely payment(s) for Exito's Services, Exito shall be obligated to complete the Services and shall be liable for non-performance of the Services to the extent and as provided for in this Agreement and in service level agreements which shall be entered into by and between the Parties within three months upon signature of this Agreement, regarding the IT back office Services, distribution of products, logistics, shipping (including pick up point services) Services.
		

		
			 
		

		
			CDiscount Colombia shall not provide insurance coverage of any kind for Exito or Exito's staff, and CDiscount Colombia will not withhold any amount that would normally be withheld from a CDiscount Colombia employee's pay. Exito shall take appropriate measures to ensure that Exito's staff is competent and that they do not breach any confidentiality provisions contained in this Agreement.
		

		
			 
		

		
			CDiscount Colombia will at all times have exclusive control over all issues affecting CDiscount Colombia's business, including, but not limited to, pricing, discounts, specifications and the terms and conditions pertaining to CDiscount Colombia's purchase or sale of products, services or related programs, and Exito shall not accept orders, make purchases or price quotations or otherwise bind CDiscount Colombia to any obligations without the prior written approval of a duly authorized representative of CDiscount Colombia. Exito agrees that it will not establish an exclusive relationship with any of CDiscount Colombia's customers, vendors or potential customers or vendors whereby CDiscount Colombia cannot conduct business with any of its customers, vendors or potential customers or vendors independent of Exito.
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			Page 3 of 12

		

 

5.         LIABILITY
		

		
			 
		

		
			The Services to be performed under this Agreement will be performed entirely at Exito's risk, and Exito assumes all responsibility for the condition of tools and equipment used in the performance of its obligations under this Agreement. Exito shall defend, indemnify and hold CDiscount Colombia harmless from and against any and all claims, actions, suits, liability, damages, loss, judgments, costs and expenses, including, without limitation, attorneys' fees, arising from or in any way related to or concerning any act or omission of Exito, its agents, employees, or representatives. Without limitation, CDiscount Colombia shall under no circumstances be liable to Exito for any special, indirect or consequential damages, including, but not limited to, loss of profits or loss of business opportunity.
		

		
			 
		

		
			6.         MUTUAL COOPERATION AND NOTICE
		

		
			 
		

		
			Each Party will cooperate fully with the other Party in the defense of any such lawsuit, action, legal proceeding, claim or demand. Each Party claiming a right of indemnification will give notice to the other Party within 15 days after learning of such lawsuit, claim or demand.
		

		
			 
		

		
			7.         AUDIT
		

		
			 
		

		
			Following a prior written notice of one month, CDiscount Colombia may conduct an audit by an external independent auditor subject to a confidentiality commitment, in order to verify the conditions of performance of this Agreement. The Audit may be conducted once per year without any obligation for CDiscount Colombia to justify the reasons.
		

		
			 
		

		
			CDiscount Colombia will notify Exito of the appointed auditor, the subject matters of the audit, the term of the audit, as well as the auditor's identity. CDiscount Colombia will assumed the cost of the auditor.
		

		
			 
		

		
			The audit performance shall not disturb Exito's operations.
		

		
			 
		

		
			Exito commits to communicate to the auditor all information concerning the audit.
		

		
			 
		

		
			In particular, Exito shall collaborate in good faith and without reserve with the appointed auditor. Exito shall give access to the auditor to all related documents, information and any other element regarding the provision of services to CDiscount Colombia that may be useful to the audit conduct and will facilitate auditor's mission, in particular answering to all questions and giving access to all software and means necessary for the audit.
		

		
			 
		

		
			The auditor shall be subject to a confidentiality obligation and shall to this effect, sign a non­disclosure agreement and shall act as sequester of all collected information from Exito within the frame of its mission, no matter the means of collection.
		

		
			 
		

		
			Only final results of the audit, will be send to each party in the way of an audit written report.
		

		
			 
		

		
			The audit conduct shall neither constitute nor be construed as an interference of Cdiscount Colombia in Exito's operations, and shall not reduce Exito's liability.
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			Page 4 of 12

		

 

If the audit results reveals amounts unduly paid to Exito or amounts due to Exito, the Parties will make the necessary adjustments within thirty (30) days upon reception of the auditor's report.
		

		
			 
		

		
			8.         CONFIDENTIAL INFORMATION
		

		
			 
		

		
			"Confidential Information" under this Agreement shall mean all non-public information which is considered confidential or proprietary by the disclosing Party, whether in written, graphic or machine-readable form, or orally disclosed by the disclosing Party to the receiving Party. Confidential Information includes, but is not limited to, all technical matters and know-how such as manufacture techniques, production plans, quality, and service requirements which has been shared for the purpose of this Agreement. Confidential Information includes, by way of example and not limitation, information relating to production plans, sales plans, strategy, marketing plans, quality, warranty claims, resale and service requirements. Confidential Information does not include any information that: (i) is or subsequently becomes publicly available through no wrongful act of the receiving Party; (ii) is known to the receiving Party prior to disclosing Party's disclosure of the information to receiving Party, other than as a result of a breach of confidentiality obligations hereunder or with whomever; (iii) is rightfully received from a third party without restrictions, or (iv) as and to the extent is required by applicable Laws. All information exchanged between the Parties before the Effective Date that was disclosed under a prior agreement signed by the Parties or otherwise regarding confidentiality, shall be considered Confidential Information of the disclosing Party under this Agreement. The Parties intend that, upon execution of this Agreement, it supersedes any prior confidentiality agreement and the previously disclosed Confidential Information is also protected under the terms hereof.
		

		
			 
		

		
			All Confidential Information disclosed by any of the Parties or their affiliates to the other in connection with this Agreement is strictly confidential, can only be disclosed to the persons that need to have access to any such Confidential Information for the purpose of this Agreement and may not be revealed to any Person outside the Parties, other than the affiliates to the Parties and the, providers of debt and equity financing, subcontractors, consultants, auditors, and/or advisors, and to each of their corresponding directors and employees (the "Representatives"), except as expressly authorized in writing by the disclosing Party.
		

		
			 
		

		
			Each Party shall be responsible for any breach of the confidentiality obligation hereunder caused by its Representatives.
		

		
			 
		

		
			Should any of the Parties be required, according to applicable Law or by a competent authority, which, for the avoidance of doubt shall include any securities self-regulatory body or stock exchange where any of the Parties or their corresponding affiliates trade their shares, to disclose, fully or partially, any Confidential Information referred to in this Agreement, such Party may do so without being liable for any indemnifications or costs, as long as it, to the extent possible, (i) promptly notifies the other Party of such mandatory disclosure prior to such disclosure and (ii) consults with the other Party with respect to the disclosure thereof if practically possible.
		

		
			 
		

		
			The Party receiving the Confidential Information shall retain in confidence such Confidential Information and shall use it only to meet its obligations under this Agreement.
		

		
			 
		

		
			No disclosure of Confidential Information by a Party to the other Party conveys any right or license in the Confidential Information to the receiving Party, unless prior, written and express authorization is in place.
		

		
			 
		

		
			
		

		
			

		 

		

			Page 5 of 12

		

 

 
		

		
			The Party that breaches the confidentiality obligations set forth herein shall be liable towards the disclosing Party for damages brought unto the disclosing Party as a result of such breach. The payment of damages by the breaching Party shall be without prejudice to any right or rights of actions or other remedies available to the disclosing Party.
		

		
			 
		

		
			These confidentiality obligations expire one (1) year after the termination of this Agreement.
		

		
			 
		

		
			9.         TAXES AND PENALTIES
		

		
			 
		

		
			Any and all taxes imposed or assessed by reason of this Agreement or its performance, including but not limited to withholding taxes ("retencion en la fuente" or equivalent) income, sales or use taxes, shall be paid/assumed by CDiscount Colombia.
		

		
			 
		

		
			10.         WARRANTY
		

		
			 
		

		
			Exito warrants to CDiscount Colombia that the Services to be delivered or rendered hereunder will be of the kind and quality designated, and in particular according to the service level agreements to be concluded between the Parties and will be performed by qualified personnel.
		

		
			 
		

		
			Special requirements for format or standards to be followed shall be attached as an additional Exhibit and executed by both CDiscount Colombia and Exito, or will otherwise be subsequently agreed by the Parties.
		

		
			 
		

		
			11.         ADHERENCE TO CDISCOUNT COLOMBIA POLICIES
		

		
			 
		

		
			For specific legal provision, Exito is bound to comply while on CDiscount Colombia's locations, all the internal rules of lndustrial and Workplace Safety.
		

		
			 
		

		
			12.         APPLICABLE LAW AND DISPUTE RESOLUTION
		

		
			 
		

		
			This Agreement shall be governed by, and construed in accordance with, the laws of the Republic of Colombia.
		

		
			 
		

		
			All controversies, conflicts, disputes or differences of any nature arising out of or relating to the Agreement shall be settled by an Arbitration Tribunal before the Arbitration and Conciliation Center of the Chamber of Commerce of Medellin (Centro de Arbitraje y Conciliación de la Cámara de Comercio de Medellίín) that will be subject to the rules of such center and in accordance with the following rules:
		

		
			 
		

		
			(i)The Arbitration Tribunal shall be integrated by a single arbitrator appointed by mutual consent of the Parties. In the event that this is not possible, the arbitrators shall be designated by the Arbitration and Conciliation Center of the Chamber of Commerce of Medellin as per request of any of the Parties. The designated arbitrator shall be independent and licensed Attorneys.
		

		
			
		

		
			

		 

		

			Page 6 of 12

		

 

(ii)The place of arbitration shall be Medellin and the merits of the dispute shall be governed according to the substantive laws of Colombia. The Arbitration Tribunal shall decide in law and will be subject to the fees of the Arbitration and Conciliation Center of the Chamber of Commerce of Medellin.
		

		
			 
		

		
			(iii)The Parties hereby exclude any right of appeal to any court of the arbitration or concerning the arbitral award. Any court having jurisdiction over any Party may undertake execution of the arbitral award.
		

		
			 
		

		
			13.         ASSIGNMENT
		

		
			 
		

		
			This Agreement may not be assigned by any of the Parties without the prior written consent of the other Party. Except for the prohibition on assignment contained in the preceding sentence, this Agreement shall be binding upon and inure to the benefits of the heirs, successors and assigns of the Parties hereto.
		

		
			 
		

		
			14.         NO WAIVER
		

		
			 
		

		
			No failure or delay on the part of either Party in the exercise of any power or right hereunder shall operate as a waiver thereof. No single or partial exercise of any right or power hereunder shall operate as a waiver of such right or of any other right or power. The waiver by either Party of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any other or subsequent breach hereunder.
		

		
			 
		

		
			15.         SEVERABILITY
		

		
			 
		

		
			If any part of this Agreement is determined to be invalid or unenforceable, such determination shall not invalidate any other provision of this Agreement. The Parties shall attempt, through negotiations in good faith, to replace any such invalid or unenforceable part of the Agreement with a comparable provision that is enforceable and valid. The failure of the Parties to reach an agreement on such a replacement provision shall not affect the validity of the remaining provisions of this Agreement.
		

		
			 
		

		
			16.         FORCE MAJEURE
		

		
			 
		

		
			Neither Party shall be liable for delays and damages caused by an event beyond its reasonable control, which it could not have taken into account at the time of the conclusion of this Agreement, and the consequences of which could not reasonably have been avoided or overcome by such Party. A force majeure event suffered by a subcontractor of a Party shall also discharge such Party from liability if subcontracting from other source cannot be made without unreasonable costs or a significant loss of time. A Party shall notify the other Party in writing without delay of a force majeure event. The Party shall correspondingly notify the other Party of the termination of a force majeure event.
		

		
			 
		

		
			17.         ENTIRE AGREEMENT
		

		
			 
		

		
			(i)This Agreement together with its Schedules constitutes the entire understanding and agreement between the Parties with respect to the subject matters covered and supersedes all
		

		
			 
		

		
			
		

		
			

		 

		

			Page 7 of 12

		

 

prior negotiations, understandings, and agreements, whether written or oral, relating to the subject matters covered.
		

		
			 
		

		
			(ii)Any provisions of this Agreement and its Schedules which by their nature are intended to survive termination or cancellation of this Agreement shall survive including, but not limited provisions on confidentiality and audit.
		

		
			 
		

		
			18.         AMENDMENTS
		

		
			 
		

		
			Any amendment to this Agreement shall be in writing and shall have no effect before signed by duly authorized representatives of both Parties.
		

		
			 
		

		
			19.         CAPTIONS
		

		
			 
		

		
			The titles, captions and table of contents contained in this Agreement are inserted herein for reference as a matter of convenience and in no way define, limit, extend or describe the scope of this Agreement or the intent of any provision hereof.
		

		
			 
		

		
			20.         AUTHORITY
		

		
			 
		

		
			The Parties represent and warrant that the execution and delivery of this Agreement has been duly authorized by all necessary corporate actions and that and the individual executing this Agreement has the requisite corporate authority to execute this Agreement.
		

		
			 
		

		
			21.         LANGUAGE
		

		
			 
		

		
			This Agreement is signed in English and Spanish. In the event of semantic uncertainty between the two versions, the Spanish version shall prevail.
		

		
			 
		

		
			22.         COUNTERPARTS
		

		
			 
		

		
			This Agreement may be executed in two counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Date: 27/03/2015

					
					
						    

					
					
						Date: 27/03/2015

				
	
					
						ALMACENES ÉXITO S.A.

					
					
						 

					
					
						CDISCOUNT COLOMBIA S.A.S.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						/s/ Carlos Mario Diez Gómez

					
					
						 

					
					
						/s/ Stefan Tobias Krautwald

				
	
					
						Name: Carlos Mario Diez Gómez

					
					
						 

					
					
						Name: Stefan Tobias Krautwald

				
	
					
						Title: Legal Representative

					
					
						 

					
					
						Title: Legal Representative

				

		
			 
		

		
			
		

		
			

		 

		

			Page 8 of 12

		

 

 
		

		
			Performance instructions including a service level agreement shall be entered into by and between the Parties within 3 months following the execution of this Agreement.
		

		
			 
		

		
			-        Price :
		

		
			 
		

		
			Prices shall be determined on market price bases and revised each year according to Section 2.
		

		
			Occupation:
		

		
			From 27/06/2014: a monthly rate of COP$35.364.168.
		

		
			From 1/09/2014: a monthly fee rate of COP$55.067.756. 
		

		
			Handling:
		

		
			From 27/06/2014: a monthly rate of COP$66.798.720.
		

		
			From 1/09/2014: a monthly fee rate of COP$66.194.l42.
		

		
			 
		

		
			C.        SHIPPING INCLUDING PICK-UP AT STORE (in store handling) 
		

		
			 
		

		
			-        Service Description:
		

		
			These Services consist in the provision of storage, handling, picking and transportation for products under 30 kg and pick up at store, when requested. Performance instructions including a service level agreement shall be entered into by and between the Parties within 3 months following the execution of this Agreement.
		

		
			 
		

		
			-        Price :
		

		
			Prices shall be determined on market price bases and revised each year.
		

		
			Pick up at store:
		

		
			COP$1.250 per pick up. 
		

		
			Pick Up / City (COP)
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Costo Pick

					
					
						 

					
					
						Costo

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						Costo

					
					
						 

					
					
						 

					
					
						 

					
					
						Costo Pick

					
					
						 

					
					
						Costo

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						Costo

				
	
					
						Cludad

					
					
						    

					
					
						Up

					
					
						    

					
					
						Almacenes

					
					
						    

					
					
						Total

					
					
						    

					
					
						Paquetera

					
					
						    

					
					
						Cludad

					
					
						   

					
					
						Up

					
					
						    

					
					
						Almacenes

					
					
						    

					
					
						Total

					
					
						    

					
					
						Paquetera

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						BELLO

					
					
						 

					
					
						$

					
4,513 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
5,763 
					
					
						 

					
					
						$

					
7,145 
					
					
						 

					
					
						IBAGUE

					
					
						 

					
					
						$

					
4,232 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
5,482 
					
					
						 

					
					
						$

					
6,785 
				
	
					
						CALDAS

					
					
						 

					
					
						$

					
4,513 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
5,763 
					
					
						 

					
					
						$

					
7,145 
					
					
						 

					
					
						LA CEJA

					
					
						 

					
					
						$

					
3,869 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
5,119 
					
					
						 

					
					
						$

					
6,385 
				
	
					
						ENVIGADO

					
					
						 

					
					
						$

					
4,513 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
5,763 
					
					
						 

					
					
						$

					
7,145 
					
					
						 

					
					
						MADRID

					
					
						 

					
					
						$

					
1,924 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
3,174 
					
					
						 

					
					
						$

					
3,945 
				
	
					
						ITAGUI

					
					
						 

					
					
						$

					
4,513 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
5,763 
					
					
						 

					
					
						$

					
7,145 
					
					
						 

					
					
						MOSQUERA

					
					
						 

					
					
						$

					
2,501 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
3,751 
					
					
						 

					
					
						$

					
4,639 
				
	
					
						LA ESTRELLA

					
					
						 

					
					
						$

					
4,513 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
5,763 
					
					
						 

					
					
						$

					
7,145 
					
					
						 

					
					
						NEIVA

					
					
						 

					
					
						$

					
4,174 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
5,424 
					
					
						 

					
					
						$

					
6,813 
				
	
					
						MEDELLIN

					
					
						 

					
					
						$

					
4,513 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
5,763 
					
					
						 

					
					
						$

					
7,145 
					
					
						 

					
					
						PITALITO

					
					
						 

					
					
						$

					
27,828 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
29,078 
					
					
						 

					
					
						$

					
37,160 
				
	
					
						SABANETA

					
					
						 

					
					
						$

					
4,513 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
5,763 
					
					
						 

					
					
						$

					
7,145 
					
					
						 

					
					
						PUERTO BERRIO

					
					
						 

					
					
						$

					
33,710 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
34,960 
					
					
						 

					
					
						$

					
43,120 
				
	
					
						BOGOTA

					
					
						 

					
					
						$

					
2,815 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
4,065 
					
					
						 

					
					
						$

					
5,134 
					
					
						 

					
					
						RIONEGRO

					
					
						 

					
					
						$

					
5,849 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
7,099 
					
					
						 

					
					
						$

					
8,651 
				
	
					
						CHIA

					
					
						 

					
					
						$

					
2,815 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
4,065 
					
					
						 

					
					
						$

					
5,134 
					
					
						 

					
					
						TURBO

					
					
						 

					
					
						$

					
18,387 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
19,637 
					
					
						 

					
					
						$

					
25,075 
				
	
					
						FUNZA

					
					
						 

					
					
						$

					
2,815 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
4,065 
					
					
						 

					
					
						$

					
5,134 
					
					
						 

					
					
						VILLAVICENCIO

					
					
						 

					
					
						$

					
3,491 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
4,741 
					
					
						 

					
					
						$

					
5,795 
				
	
					
						FUSAGASUGA

					
					
						 

					
					
						$

					
2,815 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
4,065 
					
					
						 

					
					
						$

					
5,134 
					
					
						 

					
					
						YOPAL

					
					
						 

					
					
						$

					
20,021 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
21,271 
					
					
						 

					
					
						$

					
25,615 
				
	
					
						SOACHA

					
					
						 

					
					
						$

					
2,815 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
4,065 
					
					
						 

					
					
						$

					
5,134 
					
					
						 

					
					
						ZIPAQUIRA

					
					
						 

					
					
						$

					
1,969 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
3,219 
					
					
						 

					
					
						$

					
4,014 
				
	
					
						SOPO

					
					
						 

					
					
						$

					
2,815 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
4,065 
					
					
						 

					
					
						$

					
5,134 
					
					
						 

					
					
						Cali

					
					
						 

					
					
						$

					
4,198 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
5,448 
					
					
						 

					
					
						$

					
6,831 
				
	
					
						APARTADO

					
					
						 

					
					
						$

					
18,387 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
19,637 
					
					
						 

					
					
						$

					
25,075 
					
					
						 

					
					
						Barranquilla

					
					
						 

					
					
						$

					
5,791 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
7,041 
					
					
						 

					
					
						$

					
8,655 
				
	
					
						BARRANCABERMEJA

					
					
						 

					
					
						$

					
10,418 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
11,668 
					
					
						 

					
					
						$

					
14,334 
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						BUCARAMANGA

					
					
						 

					
					
						$

					
5,119 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
6,369 
					
					
						 

					
					
						$

					
8,017 
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						CAJICA

					
					
						 

					
					
						$

					
1,870 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
3,120 
					
					
						 

					
					
						$

					
3,888 
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						CAUCASIA

					
					
						 

					
					
						$

					
22,473 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
23,723 
					
					
						 

					
					
						$

					
29,736 
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						FACATATIVA

					
					
						 

					
					
						$

					
3,175 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
4,425 
					
					
						 

					
					
						$

					
5,395 
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						FLORENCIA

					
					
						 

					
					
						$

					
27,070 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
28,320 
					
					
						 

					
					
						$

					
35,480 
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						GIRARDOT

					
					
						 

					
					
						$

					
2,982 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
4,232 
					
					
						 

					
					
						$

					
5,167 
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						GIRARDOTA

					
					
						 

					
					
						$

					
3,779 
					
					
						 

					
					
						$

					
1,250 
					
					
						 

					
					
						$

					
5,029 
					
					
						 

					
					
						$

					
6,385 
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			Page 9 of 12

		

 

A.        FINANCE
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						SERVICES

					
					
						PRICE

				
	
					
						Accounting and tax administration

					
					
						65 M COP/ yr

				
	
					
						Financial reporting and planning

					
					
						10.2 MCOP/yr

				
	
					
						Internal audit

					
					
						45 MCOP/yr

				
	
					
						Trading goods and services

					
					
						Mayor Requeriments (negotiations >  204 SMLMV) $620.000

					
						Minor Requeriments (negotiations <  204 SMLMV) $210.000

				
	
					
						Maintenance

					
					
						10 MCOP/yr

				
	
					
						Payroll payment

					
					
						1% of Cdiscount Colombia monthly payroll

				
	
					
						Treasury services and portfolio

					
					
						Treasury at 26,500 COP per hour of service and Portfolio at 16,575COP per hour

				

		
			 
		

		
			B.        HUMAN RESSOURCES
		

		
			 
		

			
					
						SERVICES

					
					
						 

				
	
					
						Recruitment

					
					
						2%  of the total value of Cdiscount Colombia payroll (annual labor cost of Cdiscount Colombia). This value considers the usual operation of HR for Exito Group and does not consider extraordinary activities

				
	
					
						Selection

				
	
					
						Training

				
	
					
						Compensation and structures

				
	
					
						labor welfare

				
	
					
						labor relations

				
	
					
						holistic health

				
	
					
						internal communications and labor claims

				

		
			 
		

		
			C.        LEGAL
		

		
			 
		

			
					
						SERVICES

					
					
						PRICE

				
	
					
						Advisory

					
					
						COP$200.000/hour

				
	
					
						legal proceedings

				
	
					
						Contract edition (1 week services promise)

				
	
					
						Contract revision (1 week services promise)

				

		
			 
		

		
			
		

		
			

		 

		

			Page 10 of 12

		

 

D.        REAL ESTATE
		

		
			 
		

			
					
						 

					
					
						SERVICES

					
					
						PRICE

				
	
					
						Leasing

					
					
						WAREHOUSE

					
						/ OFFICES

					
					
						Asset lease

					
						 

					
						     Market research of site (accessibility, location, SEL surrounding)

					
						     Lease benchmarks

					
						     Prospection of opportunities and negotiation

					
						     Site visits with Cdiscount Colombia local manager

					
						     Historical Legal Study of deeds &  due diligence

					
						     Coordination with internal Exito support areas (logistics...)

					
						     Financial  study/feasibility

					
						     Contract signature coordination

					
					
						3% of contract value (NPV)

				
	
					
						Fit-out construction

					
						 

					
						     Evaluate technical requirements of Cdiscount Colombia

					
						     Coordinate designs adapted to requirements with third parties designers

					
						     Filing and obtention of license and permits

					
						     Coordination of construction of fit out (electrical, hydro networks, etc)

					
						     Planning and cost control

					
						     Asset delivery to Cdiscount Colombia management

					
					
						5% of total investment

					
						 

					
						(Delegated Administration)

				
	
					
						Green Field

					
					
						WAREHOUSE

					
					
						Asset construction (incl. Fit-out)

					
						 

					
						     Market research of site (accessibility, location, SEL surrounding)

					
						     Land cost benchmarks

					
						     Prospection of opportunities and negotiation

					
						     Site visits with Cdiscount Colombia local manager

					
						     Historical Legal Study of deeds &  due diligence

					
						     Financial  study/feasibility

					
					
						5% of total investment

					
						 

					
						(Delegated Administration)

				

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			Page 11 of 12

		

 

 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						Evaluate technical requirements of Cdiscount Colombia

					
						Coordinate designs adapted to requirements with third parties designers

					
						Filing and obtention oflicense and permits

					
						Coordination of construction shell + fit-out (civil works, electrical, hydro networks)

					
						Planning and cost control

					
						Asset delivery to Cdiscount Colombia management

					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						     Deeds elaboration and signature coordination

					
						     Evaluate technical requirements of Cdiscount Colombia

					
						     Coordinate designs adapted to requirements with third parties designers

					
						     Filing and obtention of license and permits

					
						     Coordination of construction shell + fit-out (civil works, electrical, hydro networks)

					
						     Planning and cost control

					
						     Asset delivery to Cdiscount Colombia management

					
					
						 

				

		
			 
		

		
			E.        MARKETING
		

		
			 
		

		
			-        Service Description:
		

		
			 
		

		
			(i) Advisory service in strategy, campaign development, and traffic related agencies, review of parts and alignment with Exito's strategy.
		

		
			 
		

		
			(ii) Transfer of Exito's rates for service media;
		

		
			 
		

		
			(iii) Use of Exito's clients data base, to the extent possible according to local Law.
		

		
			 
		

		
			-        Prices
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						SERVICES

					
					
						PRICE

				
	
					
						Transfer of Exito's rates and benefits for service media.

					
					
						It's a variable cost equal to 3% of prescribed value

				
	
					
						Guideline on Exito Group media on requested

					
					
						Exito tv 4.2 million COP 

					
						Publications on Exito, Carulla or magazines. According publications fees.

				
	
					
						Emailing and database:

					
					
						Marketing CPA USD 5 per email customer acquisition. To be charged by contact

				

		
			 
		

		
			Upon CDiscount Colombia request, Exito shall provide proposal of these Services, including a service description and a quotation based on market prices. The Services will be provided by Exito with CDiscount Colombia's prior written consent.
		

		 

		

			Page 12 of 12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}]]