Document:

Exhibit 10.9

 

AMENDMENT TO AND RESTATEMENT OF AGREEMENT FOR
CREDIT ASSIGNMENT WITHOUT CO-OBLIGATION AND OTHER COVENANTS No. 3237/2020

 

ASSIGNOR: PICPAY SERVIÇOS S.A., hereby
represented pursuant to its Bylaws.

Address: Avenida Manuel Bandeira, No. 291, Condomínio
Atlas Office Park, building A, 1st floor (offices 22 and 23), 2nd and 3rd floors, building B, 3rd floor (offices 43 and 44), Vila Leopoldina,
Postal Code 05.317-020

City/State: São Paulo/ SP

CNPJ/MF: 22.896.431/0001-10

Unrestricted Operation Account: 73906-5

Restricted Operation Account: 11023201

Branch 0001

Bank no 212

 

ASSIGNEE: BANCO ORIGINAL S/A, with its
principal place of business in São Paulo, SP, at Rua Porto União, No. 295, Postal Code 04568-020, enrolled
with the CNPJ/MF under No. 92.894.922/0001-08, hereby represented pursuant to its Bylaws, ASSIGNOR and ASSIGNEE shall be hereinafter
referred to, individually, as “Party” and, jointly, the “Parties”.

 

WHEREAS:

 

(a) ASSIGNOR carries out the activity of
qualifying accredited establishments enabling them to accept pre and pos-paid payment instruments (such as credit and debit cards) in
their sales of products and/ or rendering of services, also enabling the contribution to prepaid payment accounts managed by the ASSIGNOR
itself, as a payment institution that issues digital currency, through prepaid payment arrangements (debit cards) (“Transactions”),
is recurrently legitimate and exclusive holder of credit rights arising from payment transactions carried out by individuals though such
payment instruments (“Credits”);

 

(b) Credits
are due by the acquires and/or financial institutions issuers of theses payment instruments to the ASSIGNOR (“Debtor(s)”),
each arrangement being subject to the rules established by its respective payment arrangement settlor;

 

(c) ASSIGNOR while carrying out its activities
and at its convenience, has an interested in making the assignment, in whole or in part, of the Credits due by the Debtor(s);

 

(d) the assignee is interested in evaluating
the possibility of acquiring the Credits, observing the terms and conditions provided for in this instrument;

 

(e) The
Parties entered into, on May 25, 2020, Agreement for Credit Assignment Without Co-Obligation
and Other Covenants No. 3237/2020 (“Agreement”) according to adjustments to change the restricted checking account;

 

(f) The Parties wish to amend provisions
of the Agreement, as well as restate them into a single instrument.

 

     

     

    

 

NOW, THEREFORE, the Parties, by
mutual agreement, enter into this Amendment to and Restatement of the Agreement (“Restated Agreement”), which shall be governed
by the following terms and conditions.

 

1. ASSIGNOR
is the legitimate holder of the Credits held against the Debtor(s) described in the spreadsheet (as defined below) and wishes to assign
and transfer such Credits, without co-obligation and in a definitive manner to the ASSIGNEE.

 

1.1 Through this Agreement, the ASSIGNEE
agrees, subject to the terms and conditions herein established, to acquire from the ASSIGNOR certain Credits offered by the ASSIGNEE,
from time to time and upon the payment of an amount to be agreed between the Parties.

 

1.2 The Credits will be analyzed individually
by the ASSIGNEE, being at its discretion the acceptance of it or not. In the event of refusal by the ASSIGNEE, the ASSIGNOR is not entitled
to claim, judicially or extrajudicially, indemnity or compensation for losses, damages or for any other title.

 

1.3 For the purpose of acquiring Credits,
ASSIGNOR agrees to observe the following procedure:

 

(i) ASSIGNOR will send to ASSIGNEE a spreadsheet
containing the list of all Credits due to ASSIGNOR (“Spreadsheet”), as well as an electronic file containing the consolidated
information of the Spreadsheet, until 09:30 a.m. of the day of the release of funds in the Unrestricted Checking Account of the ASSIGNOR;

 

(ii) ASSIGNEE must analyze and, eventually, approve
the Credits presented until 11:30 am on the date of release of funds;

 

(iii) Once the Credits are approved, the assignee
will inform the assignor, which must formalize its agreement by e-mail by 12:30pm on the date the of release of funds. By the end of this
same date, assignor shall send the Exhibit I hereof duly signed;

 

(iv) Upon receipt of the confirmation of agreement
by e-mail, the assignee must pay the price, on the same date, in favor of assignor in the Unrestricted Checking Account indicated in the
preamble of this agreement. Exhibit I shall contain information on the assignment transaction, including, but not limited to, the acquisition
price, the discount rate, the payment date and ither charges. Exhibit I, once duly accepted, signed and formalized, shall be an integral
part of this Agreement, being subject to all its terms and conditions;

 

(v) As per art. 290 of the Brazilian Civil Code,
the ASSIGNOR shall notify the Debtor(s), either by letter or in the contractual instrument between such parties, informing and, as the
case by be requesting the express consent of the assignments, subject matter of this Agreement; and

 

(vi) If the ASSIGNEE receives the Spreadsheet
and/or the Exhibit I after the time set forth above, the corresponding payment to the ASSIGNOR will only be made on the first subsequent
business day, therefore considering that is not a Saturday, Sunday or a day when commercial banks are required or authorized by law to
remain closed in the City of São Paulo.

 

1.4 The ASSIGNEE ́s commitment to
pay the purchase price of the Credits is expressly conditioned to the fulfillment of each of the following conditions precedent:

 

(i) approval, by the ASSIGNEE, within its usual
credit criteria, of the corresponding amount to be released;

 

(ii) that the ASSIGNOR is strictly in compliance
with all obligations assumed herein;

 

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(iii) that the assignments of the Credits are
carried out pursuant to the system established in this Agreement;

 

(iv) that there is no change in the legal and/
or regulatory rules, at the discretion of ASSIGNEE, adverse to the maintenance of the assignments of the Credits; and

 

(v) that all conditions established for each assignment
are agreed.

 

1.5 The
settlement of the price of the assignment operations will automatically take place with the credit of the amount due in the Unrestricted
Operation Account held by the ASSIGNEE, indicate by the preamble of this Agreement, granting the ASSIGNEE full, broad, general
and irrevocable release having the ASSIGNOR nothing else to claim, on any account.

 

1.6 The price due to the assignor (“Acquisition
Price”) related to the assignment of the Credits, shall correspond to the difference between:

 

(i) the face value of the Credits; and

 

(ii) the charges applicable to the operation,
including negative goodwill and fees charged by the ASSIGNEE, as well as the discount fee applicable to each assignment, as per Exhibit
I.

 

1.7 For the purposes of the provisions
above, the Parties agree and acknowledge that the signatures of each Exhibit will be carried out using a personal password, in accordance
with the security, authentication and certification rules established by Comprova.com Informática Ltda. (“Docusign”),
and expressly recognize for all purposes, effects, as being valid, effective and sufficient to prove authorship, authenticity and integrity
of each Exhibit, without any doubt regarding the condition and other obligation established.

 

2. This Agreement is executed for an undetermined
term and may be terminated by any of the Parties, at any time and without charge, through the sending of written communication to the
other party, with minimum prior notice of thirty (30) calendar days. This option, however, shall not affect any Credits assigned and which
may still be pending payment, which will remaining due on the dates of their respective maturities.

 

2.1 The Agreement may be terminated at
the discretion of the non-defaulting Party:

 

(i) by written notice, in case of breach of contract
or provision of law by one of the Parties, so long as not cured within ten (10) consecutive days from receipt of written notice to that
effect sent by the non-defaulting Party, without prejudice to the penalties;

 

(ii) by written notice, in the event of filing
for judicial or extrajudicial reorganization of any of the Parties or judicial or extrajudicial liquidation, dissolution or bankruptcy
of any of the Parties;

 

(iii) non-compliance with any obligations related
to anti-corruption rules.

 

3. For
the purposes of this Agreement ASSIGNOR hereby represents that:

 

(i) the Credits to be assigned are existing, valid
and enforceable, and agrees to properly formalize them, so that they represent amounts due and to become due, of the respective Debtor(s)
and undertakes as trustee, to supply any and all documents that materialize the Credits, whenever requested by the assignee and within
the term of up to two (2) business days, counted from the date of request;

 

(ii) the Credits are valid and effective for all
purposes of the law; they conform to the legislation and regulation applicable to assignments of credit, including the National Monetary
Council, keeping the ASSIGNEE free and harmless in relation to any lawsuit or proceeding seeking their cancelation or questioning their
validity or legitimacy;

 

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(iii) it is entirely responsible for the information
transmitted to ASSIGNEE, and it shall bear any burden deriving from erroneous, inaccurate or omissive information, and it agrees
to immediately take all actions required to correct such information, promptly;

 

(iv) it takes responsibility, on an irrevocable
and irreversible basis, for the correctness and truthfulness of the representations made in this Agreement and its respective Exhibits,
as well as for any losses, damages and impacts, especially of a tax nature, which may derive from the incorrectness or falsity of the
same. The ASSIGNOR undertakes to indemnify the ASSIGNEE for any expenses that it may incur in relation to the Credits, including attorney ́s
fees;

 

(v) the Credits (a) are free from any kind of
abatement, discount or rebate; (b) they are undisputed and are not included in or subject to any kind of judicial or extrajudicial discussion;
and (c) they are not assigned to third parties, in any way, nor posted as guarantee of obligations of the ASSIGNOR;

 

(vi) it agrees to keep its enrollment information
updated and to communicate ASSIGNEE of any alteration, in addition to not close any checking
account or any account directly or indirectly related to the compliance with the obligations it undertook under this Agreement, except
if there is no remaining obligation related to this legal transaction; and

 

(vii) as per subitem III of art. 12-A of Law No.
12.865, pursuant to the wording implemented by Law No. 14.031, of July 28, 2020, the product of the Credit assignment operations shall
serve to ensure compliance with the settlement obligations among the participants of the payment arrangement referring to the payment
transactions until the receipt by the receiving end user, pursuant to the rules of the payment arrangement, observing the necessary discounts.

 

4. The Credit assignments formalized pursuant
to the terms and conditions established in this Agreement and are performed on a definitive basis and without co-obligation of ASSIGNOR,
provided that ASSIGNEE takes the solvency risks related to the Debtor(s).

 

4.1 Notwithstanding the provision of article
4 above, if the inexistence, irregularity, invalidity, untruthfulness, illegitimacy, or unenforceability of the credits assigned is verified,
which will cause the involved Credit assignment operation to lose its characteristics, ASSIGNOR shall reimburse ASSIGNEE, in up
to two (2) business days, counted from the date of said loss of characteristics, the Acquisition Price paid by ASSIGNEE to the ASSIGNOR,
plus:

 

(i) compensatory interest at the same discount
fee applied by the ASSIGNOR to pay the Acquisition Price, calculated as indicated in the respective Exhibit I;

 

(a) period elapsed from the date of
payment of the Acquisition Price by the ASSIGNEE and the date of the loss of characteristics of the said assigned Credit; in case such
loss of characteristics occurs before or until the maturity of the respective Credit assigned; or

 

(b) in the event that the loss od
characteristics occurs after the maturity of the said Credit assigned, compensatory interest shall be applied to the period elapsed from
the date of payment of the Acquisition Price by the assignee and the date of maturity of the respective Credit assigned, provided that,
after the date of maturity of the mentioned Credit assigned, the charges provided for in item 4.3 shall apply to the amount verified until
such date; and

 

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(ii) other fees, taxes and/or contributions due
pursuant to the law, or which may be created by the competent bodies.

 

4.2 In addition to the events of loss of
characteristics mentioned above, events of loss of characteristics of the respective Credit assignment operation may be considered, if
they result in its inexistence, invalidity or inefficacy, subjecting ASSIGNOR to the penalties provided for in said section:

 

(i) as applicable, the failure to confirm the
sending of the notification referred to in item 1.3 (v) above, as well as the respective acceptance, if so required by the Debtor(s);

 

(ii) if defect, bad-faith, inexistence, falsity
or untruthfulness of the documents that back the Credits is verified, or if this happens in relation to the very Credits assigned;

 

(iii) the full or partial offsetting, made by
any Debtor(s), against the funds that should be paid to ASSIGNEE due to the respective Credit assignment operation;

 

(iv) the failure to comply with any obligation
undertaken by ASSIGNOR herein, its respective Exhibits, as well as in any other contractual instrument executed with ASSIGNEE, which
regulates the assignment of Credits to the ASSIGNEE;

 

(v) the failure to submit, by ASSIGNOR, when
requested by ASSIGNEE, in the form, conditions and terms provided for herein, any and all documents that formalize the Credits
assigned, especially for purposes of collection of amounts in default from the Debtor(S);

 

(vi) the occurrence of any commercial dispute
between ASSIGNOR and the Debtor(s) of the Credits made available for payment, which renders ASSIGNOR’s
credit unenforceable;

 

(vii) If ASSIGNEE proves, at any time, that
the assignment of the Credits characterizes fraud against creditors, fraud to execution, fraud to tax execution or bankruptcy fraud;

 

(viii) if any representation made by ASSIGNOR
under this Agreement is false, incorrect or inaccurate; and/ or

 

(ix) if the assigned Credits will have their characteristics
(such as maturity, number, date of issue, value, etc.) modified, for any reason, including by commercial agreement between the ASSIGNOR
and the respective Debtor, in relation to the characteristics informed by the ASSIGNOR to the ASSIGNEE when carrying out the respective
credit assignment obligation.

 

4.3 If ASSIGNOR fails
to timely comply with any of the obligations in this Agreement, especially the ones related to the return of amounts that it may
receive from the Accreditation Institutions, ASSIGNOR will be in default irrespective of notification or communication in this sense,
and ASSIGNOR shall pay the amounts in default to ASSIGNEE, plus:

 

(i) compensatory interest at the same Discount
Fee referred to in section 4.1(a);

 

(ii) default interest of um percent (1%) per month,
calculated on a prorated daily basis, applicable as of the date of the default until its effective payment; and

 

(iii) non-compensatory default fine of two percent
(2%), owed only as of the fifteenth day of the maturity of the obligation, calculated over the amount of the debtor balance verified on
the date of the effective payment; and

 

(iv) expenses incurred due to the respective collection
procedures.

 

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5. If the Debtor(s), for any reason, make
the payment of the assigned Credits directly to ASSIGNOR, the latter agrees to, as the collection agent, deliver to ASSIGNEE the
amounts received on the same date of the respective receipts, subject to application of the default charges provided for above.

 

5.1 Payments due by the ASSIGNOR to the
ASSIGNEE under this Agreement shall be made in resources immediately available to the ASSIGNEE, free from any kind of abatement by:

 

(i) debt to be made in the ASSIGNEE Restricted
Operation Account, indicate in the preamble, by which the ASSIGNEE is already authorized; or

 

(ii) bank transfer in favor of the ASSIGNEE ́s
checking account to be indicated in due time.

 

6. The communication between the Parties
shall be made exclusively through their representatives listed below, at the respective addresses indicated therein and may be made through
letter with acknowledgment of receipt, e-mail or any other form previously agreed between the Parties.

 

PICPAY SERVIÇOS S.A.

 

Address: Avenida Manuel Bandeira, No. 291, condomínio
Atlas Office Park, bloco B, suites 43 and 44, Vila Leopoldina, São Paulo/SP, Postal Code 05.317-020.

 

Tel: (27) 3180-0382

 

Attn.: Jurídico

 

E-mail: juridico@picpay.com

 

BANCO ORIGINAL S/A

 

Address: Rua Porto União, No. 295 - São
Paulo/ SP

 

Phone No.: (11) 25653506

 

Attn.: Comercial Recebíveis

 

E-mail: recebiveis@original.com.br

 

7. Social-environmental and Anticorruption
Responsibility. For the purposes of this Agreement, the PARTIES:

 

(i) declare, subject to civil and criminal liability,
that (a) they comply with the environmental and labor legislation related to occupational health and safety, especially regarding the
non-utilization of childish or slave-like work (“Social environmental Legislation”); (b) all information and documents made
available to the other PARTY, related to social environmental aspects, are correct and complete, and that there is no omission of information
or documents that may negatively affect the analysis of the subject-matter of this Agreement and of the Credits; and (c) irrespective
of fault, it agrees to reimburse the other Party for any amount such other Party is compelled to pay as a result of non-compliance, by
the responsible Party, with the Socio-environmental Legislation and/or of the occurrence of social environmental damages;

 

(ii) declare, on their own behalf and on behalf
of their managers, employees, agents and service providers that (a) they conduct commercial practices in an ethical manner and in compliance
with the applicable legal precepts; (b) they do not condone and do not allow any action that may characterize a harmful act, as per Law
No. 12.846/2013 and related legislation; (c) have governance installed, focused on the prevention and detection of violations of anticorruption
rules and of the requisites established in this Agreement; (d) will immediately notify the other Party if they become aware or suspicious
of any conduct that characterizes or may characterize practice of bribery or corruption referring to the negotiation, conclusion or performance
of this Agreement; and (e) have not nor will make any payment; have not nor will provide benefits or advantages to any governmental authorities
or to consultants, representatives, partners or third parties related to them, with the purpose of influencing any act or decision of
the government or ensuring any undue advantage, obtaining or preventing businesses or obtaining any undue benefit.

 

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8. ASSIGNOR is aware of and agrees with
the fact that ASSIGNEE, on an irrevocable and irreversible basis, may consult the Credit Information System of the Central Bank
of Brazil and other organizations that centralize private or governmental records and information (SERASA, SCPC, Credit Record Agencies
and others) on possible debts under the responsibility of the same, as well as the supply, to the mentioned bodies, of registration information
and of data related to this Agreement, everything in accordance with the legislation in force.

 

9. Any and all burden of all taxes, contributions
and other charges owed by reason of the operation under this Agreement shall be borne by the taxpayer defined as such in the tax law,
as per the applicable legislation.

 

10. No omission or delay of the Parties
in exercising their rights, powers or privileges under this Agreement, as well as no agreement between ASSIGNEE and ASSIGNOR shall characterize
a waiver of the same, nor the single or partial exercise of any right, power or privilege, as per this Agreement, may prevent any other
or ulterior exercise of the same, or the exercise of any other right, power or privilege.

 

11. If one or more provisions contained
in this Agreement become invalid, illegal or unenforceable under any aspect, the validity, legitimacy or enforceability of the remaining
provisions contained herein shall not be affected by the same.

 

12. ASSIGNOR declares to have received,
from ASSIGEE, all necessary clarifications on this Agreement prior to its signature, and that it freely discussed the contents
and eventual changes in its sections, so that this Agreement, as signed at this time, faithfully reflects the will of the Parties.

 

13. Throughout the entire term of effectiveness
of this Agreement and for three (3) years after termination hereof, except for the events provided for in section 13.2, the Parties shall
grant confidential treatment to this Agreement, the negotiations that preceded it, the execution hereof and all information it comes to
obtain or to which it may be granted access as a result of the services, refraining from using it for any purpose other than for normal
performance of this Agreement.

 

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13.1 “Confidential Information”
means any information or document from any Party (“Disclosing Party”), obtained or accessed by the Party (“Receiving
Party”), as a result of the Agreement, covering personal data and operations of ASSIGNOR ́s customers, data of its employees,
corporate data, economic and financial information, reports and strategic, technical, legal, accounting, operational, administrative,
commercial, financial and economic analyses, as well as intellectual works and software owned by it, obtained by any means (whether orally
or in writing, expressly or tacitly), which may be included in any documents, spreadsheets, programs, systems, photographs, reports, physical
support, electronic means etc.

 

13.2 The term referred to in sub-item 13.1
is not applicable to information protected by bank or tax secrecy, and the confidentiality of such information must be observed by the
Parties on a permanent basis.

 

13.3. All Confidential Information shall
be kept in a safe place and with access restricted to employees, agents, service providers and companies of your economic group, as well
as consultants (including without limitation, financial advisers, lawyers and accountants) of the Receiving Party that need to access
such information for provision of the services and/ or as required by applicable law (“Professionals”).

 

13.4 The Receiving Party is prohibited
from disclosing Confidential Information to third parties not included in the definition above as Professionals, unless there is prior
and express consent from the Disclosing Party.

 

13.5 The Receiving Party agrees to immediately
inform the Disclosing Party of any breach of the confidentiality rules by any person, including unintentional or faulty breach of Confidential
Information.

 

13.6 In case any of the Receiving Party
is required to disclose any Confidential Information due to an administrative or court order, it shall promptly inform the Disclosing
Party, so that it can take the legal measures it may deem necessary, provided that such communication is not prohibited by the respective
order.

 

13.7 At any time and without prior notice,
the Disclosing Party may request the return of Confidential Information that is in the possession of the Receiving Party, in which case
the Receiving Party must immediately return it or destroy it, and it is prohibited from keeping copies of any Confidential information.
Expect when the Receiving Party is required, under the terms of applicable legislation, to keep copies of the Confidential Information
in its records, in this case the Receiving Party will remain bound by the duty of secrecy of such information and other conditions set
forth in this Agreement, under penalty of termination, in addition to other legal penalties.

 

13.8 Without prejudice to immediate termination
hereof and penalties and liabilities set forth in this Agreement and/ or applicable law, noncompliance, by the Receiving Party or by their
Professionals, with any provision of this Agreement related to the security, use and disclosure of Confidential Information shall give
rise to indemnification in an amount to be defined in Court, in addition to subjecting the Receiving Party, if applicable, to administrative
sanctions imposed by the regulatory bodies and/ or criminal.

 

14. Labor Aspect. In no event will this
Agreement establish a labor relationship between ASSIGNOR’s and ASSIGNEE’s employees, or vice-versa, each of whom shall be
responsible for any labor claims filed by their employees, representatives and other collaborators.

 

14.1 The Parties represent that they are
individually responsible for any kind of payment or indemnification claimed by their employees/agents, mainly with respect to labor claims
and occupational accidents.

 

14.2 The responsibility of the Parties
mentioned in the previous sub-items shall remain even in the event of acknowledgment of the employment relationship of any of its professionals
with the other Party, for any reason.

 

14.3 In the event of acknowledgment of
employment relationship between an employee or a third party linked to a Party vis-à-vis the other Party by the Labor Court, the
latter shall fully reimburse the expenses that may be borne by the Party that is the Respondent in the labor claim.

 

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15. Each Party shall be responsible for
paying the respective taxes of which they are taxpayers.

 

16. This Agreement does not create any
labor, corporate, tax or any other relationship between the Parties, and each Party shall remain solely responsible for its obligations,
pursuant to the provisions of the applicable law.

 

17. Intellectual Property. ASSIGNEE ́s
trademarks, patents, industrial designs, applications, databases, and pre-existing materials are fully and exclusively owned by ASSIGNEE.
are full and exclusive property of ASSIGNEE. Likewise, ASSIGNOR’s trademarks, patents, industrial designs, applications, databases,
and pre-existing materials are fully and exclusively owned by ASSIGNOR.

 

17.1 ASSIGNOR will not be able to use the
ASSIGNEE ́s commercial name, trademarks, logos and other distinctive signs, even as mere reference, in any channel and for any purpose,
without the ASSIGNEE ́s prior express and written consent. The same applies to ASSIGNEE.

 

17.2 The Parties warrant that the products
and/or services and pre-existing materials owned by them do not violate and will not violate any intellectual property or personality
rights, patents or trade secrets of third parties, and shall be fully liable for the losses resulting from any legal or administrative
proceedings arising from violation of any such rights.

 

17.3 ASSIGNEE represents that it has no
copyright on any software, application or technological tool developed by ASSIGNOR to achieve the subject matter of this Agreement. ASSIGNOR
has exclusive property over everything that has been developed and idealized by virtue of this agreement, being able to register and explore
in the way it best understands without any participation or interference by the ASSIGNEE.

 

18. This Agreement is being signed on an
irrevocable and irreversible basis, binding the Parties and their assignees or successors on any behalf.

 

19. This Agreement shall be governed by
the laws of Brazil. The Parties elect the courts of the Judicial District of the City of São Paulo, State of São Paulo,
to resolve any doubts or disputes that may arising from this Agreement.

 

The Parties have executed this Agreement in two
(2) copies of equal form and content, for one sole effect, before the two (2) undersigned witnesses.

 

São Paulo, March 18, 2021.

 

	DocuSigned by:	 	DocuSigned by:
	/s/ José Antonio Batista Costa 	 	/s/ Anderson Andrade Chamon do Carmo

 

PICPAY SERVIÇOS S.A.

 

	DocuSigned by:	 	DocuSigned by:
	/s/ Luiz de Lima Giacomini	 	/s/ Luiz Antonio F Caldas Morone

 

BANCO ORIGINAL S.A.

 

	Witnesses:	 	 
	 	 	 
	/s/ Hyde de Melo Gomes Silva	 	/s/ Ana Thereza Almeida Agostinho de Carvalho
	Name: Hyde de Melo Gomes Silva	 	Name: Ana Thereza Almeida Agostinho de Carvalho
	CPF: 05309240489	 	CPF: 370.669.678-95

 

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EXHIBIT I

 

TO

 

THE AGREEMENT FOR CREDIT ASSIGNMENT WITHOUT
CO-OBLIGATION AND OTHER COVENANTS No. [3237/2020]

 

ASSIGNOR: 

 

CNPJ:

 

Ref. Agreement
for Credit Assignment without Co-obligation and other covenants no. 3237/2020 (“Agreement”)

 

ASSIGNOR hereby
agrees with the assignment operation of Credits established in the list attached to this Exhibit.

 

The assignment and transfer operations of Credits
herein presented are made under the following conditions:

 

Operation No.:

 

(i) Total amount of the Credits upon maturity:

(ii) Total acquisition amount paid to the ASSIGNOR:

(iii) Discount Fee:

(iv) Other charges

 

The terms not defined in this document shall
have the meaning ascribed to them in the Agreement.

[place and date]

 

___________________________________

[ASSIGNOR]

 

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SPREADSHEET WITH THE LIST OF CREDITS

 

	DEBTOR
 CNPJ
                                            
	 	ASSIGNOR
    CNPJ 	 	DOCUMENT No	 	ISSUE DATE	 	MATURITY
 ORIGINAL
	 	MATURITY ADJUSTED	 	FACE
                                            VALUE
 DECREASED
                                            MDR
	 	ACQUISITION
 PRICE
                                            

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

 

11Exhibit 10.10

 

AMENDMENT TO AND RESTATEMENT OF THE PAYMENT API USE AGREEMENT

 

BANCO ORIGINAL S.A., with its principal
place of business in São Paulo, SP, at Rua Porto União, 295, Postal Code 04568-020, enrolled with the National Corporate
Taxpayers’ Register (CNPJ) under No. 92.894.922/0001-08, herein represented pursuant to its By-Laws, by its undersigned officers,
hereinafter referred to simply as “Original”; and

 

PICPAY SERVIÇOS S.A., a joint-stock
company, with its principal place of business at Avenida Manuel Bandeira, 291, Atlas Office Park condominium, block A, 1st floor
(offices 22 and 23), 2nd and 3rd floors, block B, 3rd floor (offices 43 and 44), Vila Leopoldina, São Paulo, SP, Postal
Code 05.317-020, enrolled with the CNPJ/ME under No. 22.896.431/0001-10, hereinafter individually referred to as “PicPay”;
and jointly with Original referred to as “Parties” and separately and indistinctly as “Party”.

 

WHEREAS:

 

		i.	PicPay is Original’s banking correspondent and provides services of receipts and payments
of any nature;

		ii.	To provide these services, PicPay needs to have access to Original’s Application Programming
Interface (“API”) as a means of electronic communication between PicPay’s and Original’s information technology
systems.

		iii.	On October 1st, 2018, the Parties entered into the “Payment API Use Agreement”
(“Agreement”), as amended by means of its 1st Amendment, dated October 1st, 2020;

		iv.	The Parties wish to restate the provisions of the Agreement into a single instrument.

 

NOW, THEREFORE, the Parties, by
mutual and common agreement, sign this Amendment to and Restatement of the Agreement (“Restated Agreement”), which
shall be governed by the following clauses and conditions.

 

SECTION ONE – SUBJECT MATTER

 

1.1 The subject matter of this Agreement is to establish the terms and conditions of use of Original’s API PAG (PAYMENT API),
API SALDO/EXTRATO (BALANCE/STATEMENT API), API TED ENVIO (WIRE TRANSFER API), API APTIDÃO DE CRÉDITO (CREDIT WORTHINESS
API) and API JORNADA DE EMPRÉSTIMO (LOAN API) by PicPay (jointly, simply “API”).

 

1.2 PAYMENT
API is the Application Programming Interface made available by Original to PicPay, the use of which allows access to the payment
slip and consumer bill payment service by PicPay users through the PicPay Application.

 

1.3. WIRE
TRANSFER API means the Application Programming Interface, made available by Original to PicPay, the use of which allows the transfer
of amounts between accounts by PicPay users through the PicPay Application.

 

1.4. BALANCE/STATEMENT
API means the Application Programming Interface, made available by Original to PicPay, the use of which makes it possible to consult
the following checking account information held by PicPay with Original: (i) account balance; and (ii) account statement in a given
period.

 

    1

     

    

 

1.5. CREDIT
WORTHINESS API means the Application Programming Interface, made available by Original to PicPay, the use of which allows analysis
of the Individual Taxpayer Registry (CPF) to confirm if the individual is creditworthy or not, considering the credit behavior
of this CPF.

 

1.6. PAYMENT
SLIP ISSUE API means the Application Programming Interface, made available by Original to PicPay, the use of which grants access
to the service of issuance of bar codes and registration of the respective code in the Interbank Payment House (CIP).

 

1.7. WIRE
TRANSFER RECEIPT API means the Application Programming Interface, made available by Original to PicPay, the use of which makes
it possible to access the service of notice of transfer of amounts to the PicPay account held with Original.

 

1.8. LOAN
API means the Application Programming Interface, made available by Original to PicPay, the use of which allows the exchange of
information between the Parties about the extension of credit by Original offered by PicPay to its users, through the Application.

 

1.9. The
commercial provisions on each of the API’s are set forth in the Exhibits to this Agreement, it being understood that Exhibit
I refers to PAYMENT API, Exhibit II refers to WIRE TRANSFER API, Exhibit III refers to BALANCE/STATEMENT API, Exhibit IV refers
to CREDIT WORTHINESS API, Exhibit V refers to the PAYMENT SLIP API, Exhibit VI refers to WIRE TRANSFER RECEIPT API and Exhibit
VII refers to the LOAN API.

 

SECTION TWO - USE OF APIs

 

2.1 By
this Agreement, Original grants PicPay a limited, temporary, revocable, non-exclusive, non-transferable license to access, copy
and use the (i) PAYMENT API, for the specific purpose of accessing the payment slip and consumer account services; (ii) WIRE TRANSFER
API, with the specific purpose of accessing the service of transfers of amounts; (iii) BALANCE/STATEMENT API, with the specific
purpose of consulting the following information on the checking account held by PicPay with Original: (a) account balance; and
(b) account statement in a given period; (iv) CREDIT WORTHINESS API, with the specific purpose of accessing the service involving
analysis of the credit worthiness or not; (v) PAYMENT SLIP API, with the specific purpose of accessing the service of issuance
of bar codes and registration of the respective code at CIP; (vi) WIRE TRANSFER RECEIPT API, with the specific purpose of accessing
the service of notice of the receipt of transfer of amounts to the PicPay account held with Original and; (vii) LOAN API, with
the specific purpose of enabling the exchange of information between the Parties in respect to the extension of credit granted
by Original offered by PicPay to its users through the Application.

 

2.2. Original
may, at any time, at its sole discretion and without PicPay, any user or third parties having the right to indemnification of any
kind, suspend, deny, limit, price or modify the right of access and/or change the technical specifications of the API. For that
purpose, Original shall inform PicPay sixty (60) days in advance.

 

2.3. PicPay
is aware that the use of the API is subject to the security policies and procedures approved by Original, which include, without
limitation, the procedures for generating and using credentials, which shall be granted strict confidential treatment and which
may be changed by Original at any time, by means of a thirty- (30)-day prior notice to PicPay, including for improvements and/or
new features of the API.

 

    2

     

    

 

2.4. PicPay
may not:

 

		A.	modify, avoid or disable any API element, API content and/or API service or any element of its
security and access devices;

		B.	disrupt, interfere with, or intentionally cause an adverse effect in the access to or use of the
API, API content and/or API service;

		C.	breach, in any way, intellectual property rights of Original or third parties;

		D.	employ software, techniques and/or devices in order to misuse the API, API content or API service
or transmit or introduce viruses, worms, Trojan horses or other malicious, contaminating and/or destructive software through PicPay’s
application/website/platform or during use thereof;

		E.	use the API, API content, API service or PicPay’s application/website/platform for the purpose
of enabling, directly or indirectly, the commission of misdemeanors, fraudulent or illegal acts of any nature or acts contrary
to morals and good customs;

		F.	use a robot or any other automated information search engine to extract or index, wholly or in
part, the API data, API content and/or API service, for any purpose not authorized by the user; and

		G.	obtain or attempt to gain unauthorized access to other systems or computer networks connected to
Original’s services.

 

2.5. PicPay
is aware that the API content and services (i) have no warranty, express or implied, of operation, accuracy, uninterrupted or error-free
operation, suitability for a specific purpose, security, stability, compatibility with others technological resources, availability
or performance; and (ii) that the risks arising from use thereof are entirely its responsibility. PicPay is solely responsible
for the application it has developed, its operation, use and results, and also for providing technical assistance or maintenance
to the respective users.

 

2.6. Original
may, at its sole discretion, modify the API features, content or services. The amendments shall be notified to PicPay reasonably
in advance, in a manner that is compatible with the complexity of the modifications, in order to allow PicPay to adjust within
a maximum period of thirty (30) days.

 

2.7. Original
has the right to limit the API access and/or use according to the criteria and means it may deem appropriate, limit calls or the
frequency of access and use, quantity and/or type of access requested, type of applications, functions or data, provided that such
criteria are informed to PicPay at least thirty (30) days in advance.

 

2.8 
Original is authorized to use any tracking mechanisms that allow it to audit, verify and monitor the API access and use by PicPay.
The audits to be carried out by Original may, at its discretion, include the request for documents and information, in addition
to visits to PicPay’s facilities.

 

2.9 Original
is hereby authorized to debit from the checking account held by PicPay kept in its custody the amounts of payments made using the
API, at the exact time the API is used. In the event of insufficiency of funds in said account, the transaction will not be completed
and the attempted payment shall not be counted for the purpose of transfer of the amounts provided for in the Exhibits to this
Agreement.

 

2.10. PicPay
shall (i) grant confidential treatment to its API system access passwords and prevent unauthorized third parties from using them;
and (ii) exempt Original from any liability arising from any misuse of its passwords by any third parties.

 

2.11. Also,
due to the inclusion of the BALANCE/STATEMENT API, WIRE TRANSFER API, CREDIT WORTHINESS API, PAYMENT SLIP API, WIRE TRANSFER RECEIPT
API and LOAN API in the Agreement, the Parties mutually decide that all other mentions to PAYMENT API shall also be understood
as: BALANCE/STATEMENT API, WIRE TRANSFER API, CREDIT WORTHINESS API, PAYMENT SLIP API, WIRE TRANSFER RECEIPT API and LOAN API.

 

    3

     

    

 

SECTION THREE - OBLIGATIONS AND RESPONSIBILITIES
OF THE PARTIES

 

3.1 With
due regard for the limits and restrictions defined herein and the legal provisions applicable to beneficial businesses, such as
the relationship established after execution of this Agreement, Original is responsible for making the PAYMENT API available to
PicPay, always acting in accordance with the principles of honesty and good faith.

 

3.2 
PicPay, in turn, is and shall remain solely liable for the Application that it has developed, for its proper functioning, for all
costs of access, development, testing and maintenance, compliance with all applicable local, state, federal and international laws
and regulations and for full compliance of all materials contained therein. Therefore, it is entirely and exclusively incumbent
upon PicPay, among other duties and responsibilities:

 

a) to
collect, in compliance with the applicable legal provisions and in accordance with a duly disclosed privacy policy, the information
on users of its Application;

b) to
obtain and store any and all authorizations required from users of its Application, pursuant to the provisions of the applicable
laws;

c) to
guarantee the accuracy, quality, integrity, updating, legality, reliability and relevance of the means of authentication and communication
adopted and of the information provided to Original or disclosed to third parties through its Application;

d) to
comply with agreements executed with third parties that, in some way, create requirements to be fulfilled for availability of the
Application;

e) to
observe the legal and/or contractual rights and prerogatives of Original, of the users or of third parties, in particular intellectual
property and confidentiality rights;

f) to
comply with the applicable law, including, without limitation, the consumer protection, intellectual property, confidentiality
and personal data protection rules;

g) to
carry out all transactions and be responsible for all expenses necessary to access, develop, test and maintain its Application;

h) to
comply with any and all technical standards and rules applicable to its activities; 

i) to
be unlimitedly liable for all acts or omissions of its employees, agents, suppliers and/or subcontractors, as well as for all damage
of any nature caused to Original, the users or third parties, as a result of the use of the Application;

j) to
be liable for its obligations on the civil, tax, administrative, labor, social security, social and environmental levels, to ensure
the resolution of the facts for which Original may be held liable, until the respective rights are barred by the statute of limitations
or peremption, provided the facts that give cause to these obligations are exclusively attributable to PicPay;

k) to
redress, within ten (10) days as from the notice sent to it by Original, the losses and damages of any nature caused to Original
or to third parties as a result of the legal relationship established by means of this Agreement, including the losses arising
from violation of intellectual property and confidentiality rights, provided that the facts that give rise to these obligations
be exclusively attributable to PicPay. The amount of losses and damages, which shall include costs and attorneys’ fees, shall
be updated based on the variation in the General Market Price Index (IGP-M) disclosed by the Getúlio Vargas Foundation,
from the date of the harmful event to the date of the redress and increased, in the event of late payment, by a ten percent- (10%)-fine
and late payment interest at the rate of one percent (1%) per month.

 

    4

     

    

 

3.3. PicPay
agrees to (i) grant confidential treatment to its API system access passwords and to prevent unauthorized third parties from using
them; and (ii) exempt Original from any liability arising from any misuse of its passwords by any third parties.

 

SECTION FOUR - LIMITATION OF LIABILITY

 

4.1 
Original shall not be liable, under any circumstances:

 

a) For
the Service or products offered through the PicPay Application;

b) For
any losses suffered by PicPay, by its users or third parties due to the use of the PicPay Application; and

c) For
damages caused by harmful programs, such as viruses, Trojans and hackers.

 

4.1.1 Original’s
exclusion of liability does not apply if the liability results from a fact attributable to Original itself.

 

4.2 Without
prejudice to the other provisions set forth in this Agreement, in the event that Original is held liable for the payment of any
indemnification to PicPay, such indemnification shall be limited to the total amount transferred by Original to PicPay based on
this Agreement. The same applies to PicPay.

 

SECTION FIVE - CONSIDERATION

 

5.1 The
consideration due to the use of the API is provided for in the exhibits to this Agreement.

 

5.2 It
is hereby established that late payment of the amounts provided for in the Exhibits to the Agreement, by any of the Parties, shall
result in the levy late payment interest at the rate of one percent (1%) per month, calculated on a pro rata die basis, plus a
fine of two percent (2%) on the amount of the overdue debt.

 

5.3 Each
Party is responsible for any and all taxes or contributions, whether currently existing or which may be created in the future,
levied on the subject matter of this Agreement or on the performance of its other obligations, as the case may be, and in compliance
with the provisions of the applicable laws.

 

5.4 Each
Party, whenever it is the taxpayer, shall deduct from the payments it makes and pay the taxes and contributions it is required
to pay under the applicable law.

 

5.5 In
the event that PicPay has overdue debts to Original arising from obligations under this Agreement and/or other contractual relationships
between the Parties, PicPay hereby authorizes that said amounts be offset against amounts receivable from Original under this Agreement.

 

SECTION SIX - TERM AND TERMINATION OF
THE AGREEMENT

 

		6.1	This Agreement shall be effective from the date of its signature, for an indefinite term.

 

6.2 Either
Party may, at any time, upon a ninety- (90)-day prior written notice, terminate this Agreement, regardless of the reason and without
the payment of a fine or any type of penalty.

 

6.3 The
Agreement may be terminated, at the non-defaulting Party’s discretion:

(i) upon
written notice, in the event of breach of contractual or statutory provision by one of the Parties that is not cured within ten
(10) consecutive days as from receipt of written notice sent by the non-defaulting Party;

(ii) regardless
of notice, in the events of filing for judicial or extrajudicial reorganization of any of the Parties or for judicial or extrajudicial
liquidation, dissolution or bankruptcy of any of the Parties;

(iii) noncompliance
with any obligations related to anticorruption rules.

 

    5

     

    

 

6.4 In
any event of regular or early termination of this Agreement, the Parties shall comply with the following specific obligations:

(i)
The Parties shall cease the provision of the Service on the agreed date;

(ii)
Subject to the provisions of Section 6 below, the Parties shall return or destroy all assets, documents, files, databases
and records in any format, whether physical or digital, of any nature, which have been used within the scope of the provision
of the Service.

 

6.5 The
Parties agree that in the event of a significant change in their controlling interest, the other Party may, at its discretion,
request the return or destruction of all its information, files and database, as per item 6.4, which shall be complied within sixty
(60) days.

 

6.6 Penalty.
Without prejudice to the provisions of this section, in the event of noncompliance with the provisions of this Agreement, wholly
or in part, and except if there is a specific penalty, the Parties shall be subject to a non-compensatory fine of ten percent (10%)
of the price of this Agreement, to be paid within five (5) days as from the communication made by the other Party, without prejudice
to other penalties provided for in this Agreement and any indemnification.

 

SECTION SEVEN – REPRESENTATIONS
AND WARRANTIES

 

7.1 PicPay
represents and warrants that: (i) it is technically and legally qualified to access and use Original’s PAYMENT API, for the
purpose of using it in its Application; (ii) it has not and will not perform acts that could harm the rights and interests on PAYMENT
API, the API Content and the API services; (iii) it will comply with the provisions and conditions of this Agreement and other
applicable documents; (iv) it will immediately inform Original of any abusive or suspicious, unauthorized or prohibited use of
the PAYMENT API, API Content and/or API services by a third party; (v) it is not a politically exposed person (“PEP”);
(vi) it is vested with all powers and authority to assume and fulfill the obligations set forth herein and to consummate the transactions
contemplated herein; (vii) the formalization of this Agreement does not result in a breach of any third-party right, applicable
law or regulation or, also, in any violation of rights or noncompliance with or default of any agreement, instrument or document
to which it is a party; (viii) it carries out its activities in accordance with the applicable law and best market practices, especially
those related to privacy, data protection, advertising and software; (ix) it will neither use nor allow the use of the Application
to the benefit of any competitor of Original; (x) it will neither challenge nor prevent Original from analyzing, enabling or using
similar applications developed by its own technical team and/or by third parties.

 

7.2 
PicPay agrees not to store any of the data made available by its users to access the PAYMENT API service and to comply with all
policies applicable to data security and confidentiality.

 

7.3. PicPay represents that:

		A.	it holds all intellectual property rights on the Application;

		B.	the use of the API in its Application shall not breach the intellectual property rights or any
other third-party rights;

		C.	it has the technical, financial and human resources required to perform the Agreement, and it also
has the necessary know-how and experience;

		D.	it will respect and grant strict confidential treatment to the data provided available in its Application;
and

		E.	it is solely liable for the secrecy and proper use of the API system access password.

 

    6

     

    

 

SECTION EIGHT - INTELLECTUAL PROPERTY

 

8.1 
The PAYMENT API, the API Content, the API services, trademarks, patents, application programs, databases, pre-existing materials
of Original, as well as intellectual works of any kind or nature disclosed by it are and shall remain the full and exclusive ownership
of Original. PicPay may not in any way use and/or modify these materials owned by Original or third-party intellectual property
materials, in any medium and on any account, without the prior, express and written authorization from their respective owner.

 

8.1.1 The
trademarks, patents, industrial designs, the Application, databases, pre-existing PicPay materials and/or any and all technologies
or solutions produced as a result of the Application, including, for example, concepts, formulas and designs, know-how, layouts,
software, source codes, technical documentation, models, ideas, tools and project management methodology, product and service development
methodologies, information system methodologies, business plans, functionalities, documentation and characteristics of financial
products and services and policies, as well as intellectual works of any kind or nature, are the full and exclusive property of
PicPay.

 

8.1.2 Original
represents that it has no copyright on any software or technological tool developed by PicPay for the Application, to achieve the
subject matter of this Agreement.

 

8.2 PicPay
shall in no event be granted access to the source code of the PAYMENT API, since the license granted covers only its object code.

 

8.3 PicPay
represents that its Application does not infringe any intellectual property or personality rights, patents or trade secrets of
Original or third parties, taking full responsibility for the losses resulting from any judicial or administrative proceedings
based on violation of rights of the kind.

 

SECTION NINE - CONFIDENTIALITY 

 

9.1 Throughout
the entire term of effectiveness of this Agreement and for three (3) years after termination hereof, except for the events provided
for in section 9.1.2, the Parties shall grant confidential treatment to this Agreement, the negotiations that preceded it, the
execution hereof and all information it comes to obtain or to which it may be granted access as a result of the services, refraining
from using it for any purpose other than for normal performance of this Agreement.

 

9.1.1 “Confidential
Information” means any information or document from any Party, obtained or accessed by the Party, covering the personal data
and operations of each Party’s customers, data of their employees, corporate data, economic and financial information, reports
and strategic, technical, legal, accounting, operational, administrative, commercial, financial and economic analyses, as well
as intellectual works and software owned by it, obtained by any means (whether orally or in writing, expressly or tacitly), which
may be included in any documents, spreadsheets, programs, systems, photographs, reports, physical support, electronic means etc.

 

    7

     

    

 

9.1.2 The
term referred to in sub-item 9.1 is not applicable to information protected by bank or tax secrecy, and the confidentiality of
such information must be observed by the Parties on a permanent basis.

9.2 All
Confidential Information shall be kept in a safe place and with access restricted to the professionals of the Parties who need
to access such information for provision of the services.

 

9.2.1 
The Parties are prohibited from disclosing Confidential Information to third parties, unless there is prior and express consent
from the legal representatives of the other Party.

 

9.3 The
Parties agree to immediately inform the other Party of any breach of the confidentiality rules by any person, including unintentional
or faulty breach of Confidential Information.

 

9.4 In
case any of the Parties is required to disclose any Confidential Information due to an administrative or court order, it shall
inform the other Party within twenty-four (24) hours, so that it can take the legal measures it may deem necessary.

 

9.4.1 
In the event provided for in sub-item 9.4, if the Party discloses Confidential Information without informing the other Party, it
shall be subject to the provisions of sub-item 9.6.

 

9.5 At
any time and without prior notice, either Party may request the return of Confidential Information that is in the possession of
the other Party, in which case the other Party must immediately return it or destroy it, and it is prohibited from keeping copies
of any Confidential information.

 

9.5.1 
The return or destruction referred to in sub-item 9.5 shall be documented in a statement signed by the Party, under the penalties
of law, which shall contain all Confidential Information actually returned/destroyed and the statement that it does not have any
copy of that information.

 

9.5.2 
Even upon the return/destruction of any Confidential Information, the Party shall remain bound by the duty of confidentiality and
other conditions set out in this Agreement, under penalty of application of the provisions of sub-item 9.6, in addition to other
legal penalties.

 

9.6 Without
prejudice to immediate termination hereof, noncompliance, by any of the Parties or by their representatives or agents, with any
provision of this Agreement related to the security, use and disclosure of Confidential Information shall give rise to indemnification
in an amount to be defined in Court.

 

9.6.1 In
case it discloses any Confidential Information without the prior and express authorization of the other Party, the Party may be
subject, without prejudice to the liability set forth in sub-item 9.6 and to criminal liability, to administrative sanctions imposed
by the regulatory bodies (Central Bank of Brazil, Securities Commission etc.).

 

SECTION TEN - DATA SECURITY

 

10.1 All
data obtained from the user’s account in the Application shall be confidentially and securely processed, in accordance with
the stipulations of this Agreement.

 

10.2  PicPay
will not use, store or copy the bank data of users obtained through the PAYMENT API for, but not limited to, any statistics, reports,
analyses or any similar purpose, except for the purpose of transferring them to itself.

 

    8

     

    

 

SECTION ELEVEN - LIABILITY FOR LAWSUITS

 

11.1 In
the event that any user of the PicPay Application brings a lawsuit directly against Original, due to a failure in payment processing,
PicPay shall be informed within three (3) days as from the date on which the process is served and agrees to provide all necessary
information about the case to Original within forty-eight (48) hours, even if the lawsuit in question is filed after termination
of this agreement.

 

11.1.1 In
this case, if it is proven that the payment processing is due to PicPay’s exclusive fault, subject to the obligations contained
in this agreement, Original retains the right of recourse against PicPay, as well as the right to full reimbursement for the expenses
incurred with defense, fees, court costs and adverse award, without prejudice to the option of impleading PicPay.

 

11.2 In
the event that any user of the PicPay Application demands it directly, and if PicPay is not responsible for the payment processing,
PicPay may implead Original.

 

SECTION TWELVE - NOTICES BETWEEN THE
PARTIES

 

12.1 If
either Party wishes or is required to notify the other Party, such notice shall be sent to the following addressees/addresses:

 

	By Original:	 	By PicPay:
	 	 	 
	
        Banco Original S.A.

        Address: Rua Porto União, 295, São Paulo/SP

        C/O André Correia

        Phone: 11 2565-3450

        Email: andre.correia@original.com.br
	 	
        PicPay Serviços SA

        Address: Avenida Manuel Bandeira, 291, bloco A, 1o andar
        (offices 22 e 23), São Paulo, SP

        C/O Legal

        Email: juridico@picpay.com

 

12.2 The
notices referred to in subitem 12.1 may be delivered personally, with proof of receipt by the other Party, or transmitted by telegram,
email with registration of receipt, posted by mail with acknowledgment of receipt or delivered via the Registry of Deeds and Documents.
The notices shall be deemed duly complied with when delivered to the representatives and at the addresses mentioned above.

 

12.3 
Considering that, in order to comply with this Agreement, information may be exchanged electronically, the Parties represent
to acknowledge the validity of the information and data transmitted electronically and that, according to article 225 of the Civil
Code, the mechanical or electronic reproductions of facts or of things make full proof thereof, if the party against whom they
are shown does not challenge their accuracy.

 

12.4 
The Parties may, as necessary, change their representatives and/or addresses for the purpose of receiving notices related to this
Agreement, giving the other Party notice of such change, in writing, ten (10) days in advance.

 

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SECTION THIRTEEN - LABOR ASPECT 

 

13.1 In
no event will this Agreement establish a labor relationship between PicPay’s and Original’s employees, or vice-versa,
each of whom shall be responsible for any labor claims filed by their employees, representatives and other collaborators.

 

13.1.1 
It is incumbent upon each of the Parties to assume exclusive and full responsibility for the recruitment, admission, management
and inspection of the professionals designated by it for performance of the services, as well as for compliance with the corresponding
labor, tax and social-security obligations.

 

13.1.2 
The Parties shall formally appoint a duly qualified manager to coordinate the execution of the services, who shall be responsible
for the services provided, as well as for providing the other Party with all necessary information about the works and the team
under his or her management. Communications regarding the demands and services between the Parties shall be solely and exclusively
made between the appointed managers.

 

13.1.3 The
Parties represent that they are individually responsible for any kind of payment or indemnification claimed by their employees/agents,
mainly with respect to labor claims and occupational accidents.

 

13.1.4 
The responsibility of the Parties mentioned in the previous sub-items shall remain even in the event of acknowledgment of the employment
relationship of any of its professionals with the other Party, for any reason.

 

13.2 
The Parties agree to present the ither Party, upon request and at any time, within twenty-four (24) hours as from the respective
request, proofs of payment of salaries, bonuses, payment of social-security contributions and deposits to the Unemployment Compensation
Fund (FGTS), or other documents required by law, in relation to employees who have been designated to provide the services, in
addition to data and information that clearly identify these professionals, the place and period of activity, as well as any other
documents that demonstrate the legal qualification, financial health and tax compliance of the other Party.

 

13.3 In
the event of acknowledgment of employment relationship between an employee or a third party linked to a Party vis-à-vis
the other Party by the Labor Court, the latter shall fully reimburse the expenses that may be borne by the Party that is the Respondent
in the labor claim.

 

13.4 In
the case of 13.3, the Party shall acknowledge the debt as its own, crediting the respective amounts to the checking account indicated
by the aggrieved Party within five (5) business days as from the request.

 

13.5 
The Parties further agree to reimburse the other Party for any costs, fees, fines and procedural expenses it may have to incur
as a result of the claims brought against it by personnel designated by it to provide the services.

 

13.6 The
Parties may not, now or in the future, claim in court, to exempt themselves from their responsibilities, that the defense promoted
by the other Party was imperfect or that the case has been unsatisfactorily monitored.

 

13.7 Each
Party shall be responsible for paying the respective taxes of which they are taxpayers. If, by any legal provision, one of the
Parties is responsible for paying any tax of which the other Party is the taxpayer, the amount shall be reimbursed by the debtor
to the creditor within up to five (5) business days.

 

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SECTION FOURTEEN - ASPECT RELATING TO
THE ANTICORRUPTION LAW

 

14.1.  The
Parties mutually, irrevocably and irreversibly represent that their directors, managers, employees, service providers, including
their subcontractors and agents, fully understand and comply with the provisions of the Brazilian and international laws, regulations
and normative provisions to which they are subject, the purpose of which is the fight against corruption, bribery and the practice
of acts harmful to the Government.

 

14.2 
For performance of this Agreement, neither Party may offer, give or undertake to give to anyone, or accept or commit to accept
from anyone, either on their own account or by means of others, any payment, donation, compensation, financial or non-financial
advantages or benefits of any kind that constitute illegal practice and/or corruption, whether directly or indirectly as to the
subject matter of this Agreement, they and shall also ensure that their directors, managers, employees, service providers, including
their subcontractors and agents, act in the same way.

 

14.3 
The Parties shall maintain their books and/or Digital Accounting Bookkeeping (ECD), records and accounting documents with details
and precision sufficiently adequate to reflect the transactions clearly and unambiguously and funds related to this Agreement.

 

14.4 The
Parties mutually ensure each other that they adopt anticorruption policies, processes and procedures in order to guarantee due
compliance with the Brazilian and international laws, regulations and normative provisions to which they are subject, with the
purpose of combating corruption, bribery and the practice of acts harmful to the Government.

 

14.5 In
the event that on the Parties becomes involved in inquiries or administrative or judicial proceedings due to the practice of corruption,
bribery and/or the practice of acts detrimental to the Government during or in relation to performance of this Agreement, the Party
that causes said situation shall assume the respective burden, and shall also present the documents that may assist the other Party
in its defense.

 

14.6 For
purposes of this section, there will be not contractual breach when the involvement of any of the Parties in a situation related
to the practice of corruption, bribery and/or the practice of acts harmful to the Government is notorious and of public knowledge
at the time of execution of this Agreement.

 

SECTION FIFTEEN -
SOCIAL AND ENVIRONMENTAL ASPECT

 

15.1  Each
Party represents to the other Party that: (a) it is vested with all powers and authority to assume and fulfill the obligations
set forth herein and to consummate the transactions contemplated herein; and (b) the formalization and performance of this Agreement
does not imply a breach of any applicable third-party right, law or regulation, or also a violation, breach or default of any contract,
instrument or document to which it is a party or by which it any of its assets is linked and/or affected, nor does it depend on
obtaining any authorization under any agreement, instrument or document to which it is a party or by which any or any of its assets
is linked and/or affected.

 

15.2 The
Parties represent and warrant to each other that they:

 

		a.	exercise their activities in accordance with the legislation in force applicable to them, and that
they hold the necessary approvals for execution of this Agreement and compliance with the obligations provided for therein;

		b.	do not use illegal labor and will not use forced or child labor, either directly or indirectly,
through their respective suppliers of products and services;

 

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		c.	do not employ children under eighteen (18) years of age, including minor apprentices, in places
that are harmful to their education, to their physical, psychological, moral and social development, as well as in dangerous or
unhealthy places and services, at times that do not allow them to attend school, and, also, in night shifts, understood as the
period between 10 p.m. and 5 a.m.;

		d.	do not adopt practices related to activities that imply criminal profit from prostitution or sexual
exploitation of vulnerable people;

		e.	do not engage in negative discrimination practices and limit access to the employment relationship
or maintenance thereof, such as, for example, those motivated by: gender, origin, race, skin color, physical condition, religion,
marital status, age, family situation or pregnancy; and

		f.	agree to protect and preserve the environment, as well as to prevent and eradicate practices that
are harmful to the environment, carrying out their activities in compliance with the applicable law with respect to the National
Policy on the Environment and Environmental Crimes, as well as with the legal, normative and administrative acts related to the
environmental and related areas issued on the Federal, State and Municipal levels.

 

SECTION SIXTEEN - DATA PROTECTION

 

16.1. The
Parties are aware of and represent that they will fully comply, on their account and on account of their members, managers, representatives
and employees, as well as require compliance by third parties hired by them with the provisions of Law 13.709/2018 - General Data
Protection Law - LGPD.

 

16.2. None
of the Parties may change the purpose for use and processing of the data/information obtained hereunder, it being understood that
any information shall be granted treatment compatible with the purpose for which it is designed.

 

16.3. The
Parties represent that they use technical and administrative measures capable of protecting the data and information obtained hereunder,
in order to protect it from unauthorized access.

 

16.4. The
Parties agree to guarantee the classification of the data shared between them and compliance with the legal or regulatory obligations
that are incumbent upon them.

 

16.5. The
Parties agree to process the personal data to which they have access, with the sole purpose of achieving the Purpose, always in
accordance with the criteria, requirements and specifications provided for in the Agreement, without the possibility of using such
data for a different purpose.

 

16.6. The
Parties agree not to disclose to third parties the personal data to which they have been granted access, except with prior and
express authorization from the Disclosing Party.

 

16.7. The
Parties agree to grant strict confidential treatment to all personal data and information entrusted to them.

 

SECTION SEVENTEEN - GENERAL PROVISIONS

 

17.1 In
the event that one or more provisions of this Agreement are found to be invalid, illegal or unenforceable, the other provisions
shall not be adversely affected, and the Parties shall negotiate to replace that provision with another with the same economic
effect and application.

 

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17.2 This
Agreement is irrevocably and irreversibly executed, and it shall produce effects between the Parties and their respective successors.

 

17.3 
This Agreement represents the full and entire agreement between the Parties, jointly with the bank correspondent agreement, and
it may neither be modified nor amended without the prior and express written consent of the legal representatives of the Parties
or their respective successors, it being understood that the transfer, subcontracting, wholly or in part, of the results of this
Agreement, as well as the assignment of the rights and obligations hereunder without the written consent of the other Party are
prohibited.

 

17.4 
The Parties expressly acknowledge that: (a) full compliance of the obligations agreed hereunder is of fundamental importance for
the balance of this Agreement and (b) the terms and conditions provided for herein are fair and reasonable and have been agreed
in accordance with the principles of probity and good faith.

 

17.5 This
Agreement does not create any labor, corporate, tax or any other relationship between the Parties, and each Party shall remain
solely responsible for its obligations, pursuant to the provisions of the applicable law.

 

17.6 This
Agreement shall prevail over any other documents that may be signed between the Parties. If there is a conflict between the provisions
of this Agreement and those set forth in any of its Supplements, Exhibits or Proposals, this Agreement shall prevail.

 

17.7 The
modification of any clause or condition defined in this Agreement, including the definition of limits and/or exceptions of any
nature not expressly mentioned herein shall only be valid if stipulated in a Contractual Amendment signed by the legal representatives
of both Parties.

 

17.8 Any
tolerance by one of the Parties with respect to the noncompliance or nonperformance of any clause or condition by the other party
shall be a mere liberality, and it shall not imply novation or waiver of the right to require full compliance with the obligations
agreed hereunder.

 

17.9 This
instrument replaces any covenants, whether written or oral, previously reached by the Parties in relation to the subject matter
hereof, and PicPay fives Original full and irrevocable release in relation to such adjustments.

 

17.10 
Without prejudice to the possibility of contractual termination due to involuntary nonperformance, neither Party shall be deemed
in default, nor shall it be liable to the other Party for failures in the performance of its obligations hereunder insofar as such
noncompliance exclusively and provenly results from an event beyond its control, act of God or force majeure, or even an act or
omission attributable solely to the other Party.

 

17.11 In
the event of conflict between this agreement and the bank correspondence agreement, the bank correspondence agreement shall prevail.

 

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IN WITNESS WHEREOF, the Parties execute
this instrument in two (2) counterparts of equal content and form, before two (2) witnesses.

 

São Paulo, March 1, 2021.

 

	DocuSigned by:	 	DocuSigned by:
	 	 	 
	/s/ Edilson Pereira Jardim	 	/s/ Carlos Rudnei Dutz

 

BANCO ORIGINAL S.A.

 

	DocuSigned by:	 	DocuSigned by:
	 	 	 
	/s/ Anderson Andrade Chamon do Carmo	 	/s/ José Antonio Batista Costa

 

PICPAY SERVIÇOS S.A.

 

	Witnesses:	 	 
	 	 	 
	/s/ Alessandra Almeida Machado	 	/s/ Hyde de Melo Gomes Silva
	Name: Alessandra Almeida Machado	 	Name: Hyde de Melo Gomes Silva
	Identity Card (RG): 276235897	 	Identity Card (RG): 389037576

 

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EXHIBIT I - PAYMENT API

 

1. Considerations:
Original shall monthly remunerate PicPay for provision of the services involving receipts of payment slips or consumption bills
made using the Payment API, pursuant to the table below:

 

	Per banking payment slips paid 

through the PAYMENT API	 	Per consumption or tax bill paid

 through the PAYMENT API
	 	 	 
	ten cents of Real (R$0.10)	 	five cents of Real (R$0.05)

 

2. Calculation and Form of Payment:
By the last business day of each month, PicPay shall forward to Original the report containing the amount of all payments of payment
slips and/or consumption bills made by the users of the PicPay Application, jointly with the Debit Note. Original shall, in turn,
analyze the amounts and, if they are in accordance with the report and the internal validation basis, shall pay the amount set
forth in the Debit Note to PicPay within ten (10) business days.

 

2.1. The payments/transfers shall be
made by means of credit to a checking account indicated in writing by Original, upon issue of the respective Debit Note.

 

3. The pricing may be renegotiated
at any time, by mutual agreement between the Parties, taking into account, in particular, the conditions and dynamics of the contractual
relationship, upon execution of an amendment to this Agreement.

 

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EXHIBIT II – WIRE TRANSFER REMITTANCE
API

 

1. Consideration:
PicPay shall pay to Original forty-two cents of Real (R$0.42) per Wire Transfer carried out using the WIRE TRANSFER REMITTANCE
API, which shall enable PicPay to provide the services of remittance of transfer of amounts between accounts to its users through
the Application.

 

2. Calculation and Form of
Payment: Original shall send to PicPay, by the third (3rd) business day of the following month, a report containing all Wore
Transfers made/sent, through the WIRE TRANSFER REMITTANCE API, by the users of the Application, jointly with a Debit Note for payment
of the amount due, calculated according to the tables above. PicPay shall, in turn, analyze the amounts and, if they are in accordance
with the report and the internal validation basis, it shall pay the amount set forth in the Debit Note to Original within ten (10)
business days.

 

2.1. The payments/transfers
shall be made by means of credit to a checking account indicated in writing by Original, upon issuance of the respective Debit
Note.

 

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EXHIBIT III – BALANCE/STATEMENT
API

 

1. Consideration:
There shall be no consideration for the use of the BALANCE STATEMENT API. The Parties may choose to define considerations for use
of this API by means of an amendment to this Agreement.

 

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EXHIBIT IV – CREDIT WORTHINESS
API

 

1. Consideration:
There will be no consideration for the use of CREDIT WORTHINESS API. The Parties may choose to define considerations for use of
this API by means of an amendment to this Agreement.

 

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EXHIBIT V – PAYMENT SLIP
ISSUE API

 

1. Consideration: PicPay shall pay
Original fifty cents of Real (R$0.50) per payment slips registered with CIP through the PAYMENT SLIP ISSUE API, in addition
to the amounts set forth in the table below, for settlement of the payment slips generated through the PAYMENT SLIP ISSUE API (interbank
tariffs):

 

	Up to 30% of receipts in a bank correspondent	 	Seventy-five cents of Real (R$0.75) per payment slip
	 	 	 
	From 31% to 45% of receipts in a bank correspondent:	 	Eighty cents of Real (R$0.80) per payment slip
	 	 	 
	Above 45% of receipts in a bank correspondent	 	Eighty-five cents of Real (R$0.85) per payment slip

 

2. Calculation and Form of Payment:
Original shall send to PicPay, by the third (3rd) business day of the following month, a report containing the issues registered
with the CIP and the settlements made through the PAYMENT SLIP ISSUE API, jointly with a Debit Note for payment of the amount due,
calculated pursuant to the above tables. PicPay shall, in turn, analyze the amounts and, if they are in accordance with the report
and the internal validation basis, it shall pay the amount set forth in the Debit Note to Original within ten (10) business days.

 

2.1. The payments/transfers shall be
made by means of credit to a checking account indicated in writing by Original, upon issuance of the respective Debit Note.

 

3. The pricing may be renegotiated
at any time, by mutual agreement between the Parties, taking into account, in particular, the conditions and dynamics of the contractual
relationship, upon execution of an amendment to this Agreement.

 

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EXHIBIT VI - WIRE TRANSFER
RECEIPT API

 

1. Consideration:
There will be no consideration for use of the WIRE TRANSFER RECEIPT API. The Parties may choose to define considerations for the
use of this API by means of an amendment to the Agreement.

 

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EXHIBIT VII – LOAN API

 

1. Consideration: There will
be no consideration for the use of the LOAN API. The Parties may choose to define considerations for use of this API by means
of an amendment to the Agreement. 

 

 

21

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