Document:

Document

			
	

						
	VISA DO BRASIL PARTICIPATION AGREEMENT
DOMICILE INSTITUTION
	

[All pages of the agreement initialed via DocuSign]
			
	Exhibit 4.42

1 - Corporate Name:
BancoSeguro S.A
2 - Trade Name:
BancoSeguro
3 - Address (main headquarters):
Av Brig. Faria Lima, 1384 4o Andar - Jardim Paulistano
4 - Corporate Taxpayers’ Registry of the Ministry of Finance - CNPJ/MF:
10.264.663/0001-77
5 - City/State:
São Paulo
6 - CEP (Postal Code):
01451-001
7 - Telephone (with area code/DDD):
11 3092-6453
8 - Person in charge of commercial contact: Carlos Fernando Ferreira de Souza
9 - Commercial contact email: [*****]
10 - Position/Area of the commercial contact: Officer / Products
11 - Company organized and in operation under the laws of (State or country of organization):
Brazil

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	VISA DO BRASIL PARTICIPATION AGREEMENT
DOMICILE INSTITUTION
	

			
	Summary of the business, with a detailed description of applicant

12 - Corporate purpose:
Domicile Institution modality Multiple Bank duly authorized by the Central Bank of Brazil.
13 - Payment Volume in [*****] months:
(  ) From [*****]
(  ) From [*****]
(x) Over [*****]
14 - Applicant’s corporate structure and its economic group, with specification of ownership interest:
									
	Full Name	CPF/CNPJ	Interest (%)
	BS HOLDING FINANCEIRA LTDA.	28.506.388/0001-39	1 - [*****]

			

15 - Statements and documents (Exhibit) evidencing that all Bylaws-appointed Officers, as well as the managers responsible for Governance - risk, compliance, Transactions and IT systems, financing -, have experience of at least [*****] years in their respective duties, and that Applicant’s Board of Directors has sufficient knowledge about the business proposal, including aspects related to the market dynamics, considering risk management.
16 - List of the total capital composition and loans:
We do not have loans
17 - Market opportunities justifying the business:
Consolidation of domicile to receipt sales originated in credit and debit card and collection of credit generated with guarantee on receivables.
18 - Specify the activities and services currently provided by applicant or to be provided in the next five [*****] years:
Services of Domicile Institution, credit, investment, insurance, among others.
19 - Geographic Market:
(x) [*****] Region
(x) [*****] Region
(x) [*****] Region
(x) [*****] Region
(x) [*****] Region
20 - Client Profile:
Mostly long tail, with majority of CPF (Individual Taxpayers’ Register) with income lower than [*****], but with participation in the retail portfolios and companies with revenue lower than [*****]
21 - Technology to be adopted, for instance, POS, M-POS, electronic commerce, among others, and, if applicable, the specific/innovative technology:
(x) YES
( ) NO
22 - Additional services (for instance, if the company supplies services like Payment/account reconciliation, inventory control for electronic commerce companies; credit line for working capital bound to sales):
Reconciliation, credit, investment, account payment, transfers, among others.
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	VISA DO BRASIL PARTICIPATION AGREEMENT
DOMICILE INSTITUTION
	

			
	Prevention against money laundering (PLD) and terrorism financing (FT)

23 - Does your institution have policies and/or procedures aimed at preventing money laundering and terrorism financing?
(x) YES
( ) NO
24 - Is there an executive responsible for Compliance and PLD/FT?
( x ) YES
Full Name: [*****]
Title: Compliance Officer
Email: [*****]
Telephone: [*****]
( ) NO
Justification:
25 - Is there an independent review (internal or external audit or internal controls report) including the PLD/FT policies and/or procedures?
(x) YES
( ) NO
26 - KYC (Know your Client) Yes
27 - KYE (Know your Employee) Yes
28 - Transaction Monitoring Yes

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	VISA DO BRASIL PARTICIPATION AGREEMENT
DOMICILE INSTITUTION
	

			
	Risks and Fraud Prevention

29 - Do you have a Risks and/or fraud prevention area?
(x) YES
( ) NO
30 - How many people are part of the Risk team?
There are [*****] (active) workers.
31 - Are there plans for team training?
(x) YES
( ) NO
32 - Do you have a fraud monitoring and prevention tool?
(x) YES - WHICH ONE: Pulse (Feedzai) and Falcon (FICO)
( ) NO
33 - Does your tool allow you to deny a request or purchase from a merchant before the transaction is submitted for capture/authorization?
(x) YES
( ) NO
34 - Do you have fraud indexes?
(x) YES
( ) NO
35 - Monthly follow-up on quantity and amounts of frauds and withdrawal/cancellations vs quantity and amount of sales (total and per commercial establishment)?
(x) YES
( ) NO
36 - Follow-up on quantity and amounts of chargeback vs quantity and amount of sales (total and per commercial establishment)?
(x) YES
( ) NO
37 - Do you have PCI-DSS certification?
(x) YES
Issued by which QSA? Cipher
What is the expiration date? June 30, 2022
( ) NO – Justification:
38 - Do you have a validation policy (KYC) for new commercial establishments? Do you rely on outsourced companies for the analyses to validate new commercial establishments? Explain the capture and activation flow for new commercial establishments, stating the controls and verifications (CNPJ, CNAE, etc.) in each step, including third parties and service suppliers (i.e., bureaus, lists, etc.) operating in the flow.
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	VISA DO BRASIL PARTICIPATION AGREEMENT
DOMICILE INSTITUTION
	

( X ) YES Description:
Regarding the KYC carried out by the company, it is an automated process performed in PagSeguro’s onboarding, where the client goes through validations, for instance, verification of status before the Federal Revenue Office (CPF and CNPJ), opening of the ownership structure of the Legal Entity accounts via Burea.
                  ( ) NO
39 - Do you have a risk policy in order to allow/forbid operation fields (MCC) in your business? Which ones are forbidden?
(x) YES - Which ones:
MCCs= 7995(Betting, including Lottery Tickets, Casino Gaming Chips, Off-Track Betting, and Wagers at Race Tracks), 7801(Government-Licensed online casinos (online gambling)[Specific Countries]) and 7802(Government-Licensed horse/dog racing [Specific Countries])
( ) NO
40 - Do you have a commerce cancellation policy? Describe the criteria supporting it.
( x ) YES - Description:
( ) NO
			
	

I/we hereby certify, as legal representative(s) of the Institution, and not personally, that: (i) I/we am/are responsible for drafting this document on behalf of Participant and that I/we employed due diligence to assess this information based on our records and data and that, to my/our best knowledge, the information included in this document is accurate and complete.
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[All pages of the agreement initialed via DocuSign]
Visa Payment Arrangements Participation Agreement
DOMICILE INSTITUTION
THIS PARTICIPATION AGREEMENT (“Agreement”) is entered into between VISA DO BRASIL EMPREENDIMENTOS LTDA., a company organized and in operation under the laws of Brazil, with its headquarters in São Paulo/SP, at Av. Pres. Juscelino Kubitschek, 1909/3o andar, Torre Norte, Brazil, enrolled in the CNPJ/MF under No. 31.551.765/0001-43 (“VISA”) and
												
	Applicant name (hereinafter named “Domicile Institution”): BANCOSEGURO S.A

	CNPJ: 10.264.663/0001-77

	Address (main headquarters): Av Brig. Faria Lima, 1384 4o Andar- Jardim Paulistano
	City: São Paulo	State: São Paulo
	Country: Brazil	CEP: 01451-001
	Postal address (if different):
	City:	State:
	Country:	CEP:
	Phone:	Country code: 55	City/area code:	Number:
	Organized and operating under the laws of Brazil

1.The Domicile Institution wishes to provide payment services to the final user of authorized receipts, within the scope of payment arrangements instituted by VISA (respectively, the “Commercial Establishment” and the “Visa Payment Arrangements”), for credit to an at sight deposit account or the payment of choice of the Commercial Establishment (the “Services”).
2.In order for VISA to agree and thus consent to the participation of Domicile Institution in its Payment Arrangements for the provision of Services to the Commercial Establishments, the Domicile Institution agrees with the following:
3.The Domicile Institution is the agent responsible for providing the Services to the Commercial Establishments registered by an Acquirer or a Payment Facilitator authorized to participate in the Visa Payment Arrangements. The Domicile Institution acknowledges and agrees that it shall only be entitled to provide Services to a Commercial Establishment as long as it is authorized by VISA to participate in the Visa Payment Arrangements, pursuant to this Agreement and in observance of the Visa Payment Arrangements Rules. The Domicile Institution acknowledges and agrees that it may not subcontract the Services, in whole or in part, except if prior and expressly approved in writing by VISA.
a.The Domicile Institution represents to know and undertakes to comply with all rules applicable to the Services and the other domicile institution activities, as issued by the Central Bank of Brazil and by the Clearing and Settlement System appointed by VISA, pursuant to the Brazilian Payment System and the Visa Payment Arrangements Rules (the “Settlement System”).
b.In case it subcontracts any of its activities related to the Services, which shall be duly authorized by VISA, the Domicile Institution shall be fully liable for any acts of the subcontractors.
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c.VISA shall include the name of the Domicile Institution in the list of domicile institutions authorized to participate in the Visa Payment Arrangements and thus provide the Services to the Commercial Establishments, and the Domicile Institution acknowledges that this list shall be published by Visa on its Internet webpage and/or any other means VISA deems sufficient to disclose such participation. VISA shall exclude the name of the Domicile Institution from such list in case it is no longer authorized to provide the Services to the Commercial Establishments. In this case, the Domicile Institution shall inform the Commercial Establishments, so they may timely hire another Domicile Institution authorized by VISA, if applicable. In such sense, the Domicile Institution acknowledges that it shall continue providing the Services to the Commercial Establishments for a term of [*****] days, in order to allow a continuity solution that does not harm the Commercial Establishments (“Migration Period”). During the Migration Period, the terms of this Agreement shall remain in force.
4.The Domicile Institution agrees to notify VISA in writing, at least [*****] days in advance of the date of occurrence of an amendment to its articles of incorporation or changes to its activities or its financial and/or equity status, for instance, without limitation, the sale of all or essentially all assets of the operation, occurrence of an event of acquisition, consolidation, ownership change or financial or corporate restructuring at the Domicile Institution, and it also agrees to immediately present to VISA any information related to the foregoing which the latter may request. The Domicile Institution also agrees to immediately notify VISA in case of temporary special administration regime decree, intervention, extrajudicial liquidation, extinguishment, dissolution, insolvency, voluntary bankruptcy request, bankruptcy request not withdrawn within the legal term or bankruptcy decree for the Domicile Institution, as set forth in Law No. 6,024, of March 14, 1974, and in Law No. 11,101, of February 9, 2005, as applicable.
5.VISA’s consent for the provision of the Services to the Commercial Establishments through participation in the Visa Payment Arrangements is conditioned to continuous compliance by the Domicile Institution with the terms of this Agreement and all obligations set forth in the rules part of the VISA Payment Arrangements Rules, as amended from time to time. The Domicile Institution acknowledges that it received a copy of the Visa Payment Arrangements Rules and represents to be aware and in agreement with such Rules. In such sense, in case of omission and/or contradiction between the terms of this Agreement and the Visa Payment Arrangements Rules, the terms of the latter shall prevail.
6.The Domicile Institution acknowledges that VISA has the right to carry out financial and procedural due diligence, as well as inspections in the Domicile Institution’s facilities at any time, and the latter may also suspend the former’s participation in the Visa Payment Arrangements in case VISA deems that the Domicile Institution is acting in disagreement with the applicable regulations, the Visa Payment Arrangements Rules, the best market practices, or also in a way that poses a threat to the reputation of VISA, the Issuers or the Acquirers participating in the Visa Payment Arrangements (the “Participants”) or of the Commercial Establishments. In this case, Visa shall notify the Domicile Institution so it may, within [*****] days, submit clarifications regarding the points indicated by Visa and, as applicable, an action plan to remedy them.
7.Upon provision of the Services to a Commercial Establishment within the scope of the Visa Payment Arrangements, the Domicile Institution shall observe the following, except if the Domicile Institution has entered into a Trademark License Agreement with Visa, under the terms and conditions specified in the Visa Payment Arrangements Rules:
a.It shall not present itself or appear to be an Issuer or Acquirer in the Visa Payment Arrangements, as per the definitions in the Visa Payment Arrangements Rules. In case the Domicile Institution is also an Issuer or Acquirer, as per the specific participation agreement entered into with VISA, the Domicile Institution shall act so as to not cause any confusion regarding its performance as such or as a domicile institution;
b.It shall only use the marketing materials prior and expressly approved by VISA and the Commercial Establishment.
c.The Domicile Institution shall always follow the principle of good faith and it undertakes to adopt the best market practices if and when it deals with third parties on behalf of the Commercial Establishment
d.The Domicile Institution shall have a valid agreement with the Settlement System in order to provide the Services to the Commercial Establishments. The Domicile Institution’s participation in the Visa Payment Arrangements is conditioned to the existence and effectiveness of this agreement and its continuous participation in the Settlement Systems.
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e.Upon provision of the Services to a Commercial Establishment within the scope of the Visa Payment Arrangements, the Domicile Institution shall clearly disclose to third parties, as set forth in the Visa Payment Arrangements Rules, that it is operating as a provider of domicile institution services for said Commercial Establishment.
f. The Domicile Institution may not, in any way whatsoever, condition the provision of any other services to the Commercial Establishments to the hiring of the Services or vice-versa, and it shall adopt all necessary measures, including, without limitation, any measures requested by VISA, in order to assure that the hiring of the Services by the Commercial Establishment always occur without discrimination or any flaws, freely and sensibly.
8.The Domicile Institution represents and warrants that it shall credit to an account freely operated by the Commercial Establishments, within the term set forth by the Settlement System and VISA, whichever is shorter, the authorized financial funds within the scope of the Visa Payment Arrangements and settled through the Settlement System. The Domicile Institution acknowledges that the maximum term is the day of financial settlement in the Settlement System, in a timely manner, in order to allow the recipient of the Domicile Institution’s credit to use the funds arising from the payment made on that same day.
a.The Domicile Institution shall keep VISA informed on any matters that may affect the Services provision or the timely credit to the Commercial Establishments, and it must submit, in case of issues, a remediation plan and schedule for VISA’s approval.
b.In case the Domicile Institution fails to credit the financial resources to the Commercial Establishments within the term set forth in this Section 8, it may be fined by VISA in [*****]% of the late credits, per late day, and attributed respectively to each of the Commercial Establishments for which said term is being defaulted, without prejudice to its obligation to credit all funds to the Commercial Establishments (“Default Fine”). This penalty may be transferred by VISA to the Commercial Establishment affected by the default, as appraised by VISA.
9.The Domicile Institution is responsible for the accuracy of all information required by VISA and by the Settlement System in relation to the Services, the Commercial Establishments, transactions or other matters.
10.The Domicile Institution shall comply with all system availability and response time requirements set forth in the Visa Payment Arrangements Rules, specifically in relation to the domicile institutions or in relation to other Participants, as applicable.
11.Upon request of VISA, the Domicile Institution shall cooperate with any investigation, analysis or consultation related to the security, integrity, operation and/or use or access to the Visa Payment Arrangements or its obligations before VISA. The Domicile Institution shall cooperate and take any and all measures, whether corrective or not, required by VISA and/or by the Settlement System to correct any errors caused by the Domicile Institution.
12.The Domicile Institution shall keep records of all information and transactions for a minimum term of [*****] years after recording or receiving such information, except in case a longer term is required by the applicable regulations or by the Visa Payment Arrangement Rules.
13.The Domicile Institution shall pay VISA the fees and other financial obligations that may be attributed thereto as described in the Visa Payment Arrangements Rules.
13.1. As set forth in the Visa Payment Arrangements Rules, the Domicile Institution acknowledges that, in compliance with the Central Bank of Brazil’s order, (i) no fees and/or other compensation may be set forth, agreed and/or charged between the Acquirers/Payment Facilitators and the Domicile Institutions, even if indirectly, (ii) it may not implement fees associated to its participation in the Visa Payment Arrangements that were not set forth in the Rules and (iii) it shall communicate Visa in advance of its intention to implement any fees, so Visa may, as per the regulations of the Brazilian Payment System, inform the Central Bank of Brazil.
14.The Domicile Institution’s participation in the Visa Payment Arrangements is subject to the provisions of the Visa Payment Arrangements Rules that limit VISA’s liability regarding the provision of the Services and any other personal or property damages, or other losses or damages that may be attributed to VISA.
15.The Domicile Institution agrees to indemnify the Participants, the Commercial Establishments and VISA for any and all actions, complaints, claims, losses, damages, fines, judicial or administrative proceedings, costs and/or expenses (including counsel fees) arising from any action or omission of the Domicile Institution in relation to the Services and its participation in the Visa Payment Arrangements, including, without limitation, the actions, complaints, losses, damages, fines, judicial or administrative proceedings, costs and expenses (including counsel fees) arising from the violation of rights, including trade secrets or property rights of the Participants or other third parties, as well as property damages incurred by the Participants or by the Commercial Establishments.
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16.The Domicile Institution agrees to keep in confidentiality all information related to VISA’s operation to which it has access and which VISA indicates as confidential or proprietary. The Domicile Institution shall not copy, disclose to third parties or use such confidential or proprietary information, except with VISA’s prior written consent.
17.This Agreement shall become effective only after being executed by the Parties, and it shall so remain until it is terminated, as set forth in this Section 17. This Agreement shall be deemed fully terminated within [*****] days as of the delivery to the Financial Institution by VISA of a written notice, describing the former’s failure to comply with any of its obligations hereunder and under the Visa Payment Arrangements Rules, except if VISA, at its sole discretion, deems that such failure was corrected by the Domicile Institution within [*****] days. In this case, the Domicile Institution shall immediately return to VISA all documents, materials and equipment received from the latter, including any copies thereof, for the provision of the Services. The Domicile Institution also agrees that, notwithstanding the termination of this Agreement, it shall keep as confidential and proprietary to Visa all information related to VISA’s operations, as set forth in Section 16 above. The Domicile Institution agrees to observe the Migration Period, as described in Section 3 of this Agreement.
18.The Domicile Institution is irrevocably subject to the jurisdiction of the Federative Republic of Brazil and of the courts of the city of São Paulo, State of São Paulo, for all claims submitted by VISA or any other Participant or Commercial Establishments against the Domicile Institution in relation to the Services.
19.All notices and communications related to this Agreement shall only be deemed validly delivered if sent by registered mail or any other means with delivery evidence.
20.The Domicile Institution understands and acknowledges that this Agreement and the Visa Payment Arrangements Rules replace any previous agreement that may exist between the Domicile Institution and VISA in relation to the Services provision. The terms of this Agreement may not be amended or changed, except upon a written instrument executed by the Parties. The Domicile Institution understands and acknowledges that VISA may, at any time and at its sole discretion, change the features of the provision of domicile institution services, as described in the Visa Payment Arrangements Rules; in which case, VISA shall sent to the Domicile Institution a notice, [*****] days in advance, informing on such changes. The Domicile Institution may, within [*****] days as of the receipt of the notice, inform VISA of its disagreement with the changes made; in which case, this Agreement shall be deemed immediately terminated, except for the obligations of the Domicile Institution during the Migration Period, as described in Section 3 hereof.
21.The provisions of Sections 12, 15, 17, 18 and 19, among others which by their very nature ought to do so as well, shall survive the termination of this Agreement.
22.The terms starting in capitals in Agreement and not defined herein shall have the meanings ascribed thereto in the Visa Payment Arrangements Rules.
IN WITNESS WHEREOF, the Parties execute this Agreement in three (03) counterparts, on the dates stated below their respective signatures
VISA DO BRASIL EMPREENDIMENTOS LTDA
Name: Luciane Przybylski Lima
Title: Financial Planning Executive Officer
Date: December 08, 2021
BANCOSEGURO S.A.
						
	1- Name: Artur Gaulke Schunck	Title: CFO
	Date: November 30, 2021	2- Name: Leandro Roberto Rodrigues
	[signature by DocuSign]	Title: Treasury Officer
		Date: November 30, 2021
		[signature by DocuSign]
		
	Witness:	
	1 - Name: Marcos Jesus Pereira	2- Name: Jorge X. Faria Neto
	ID RG: [*****]
	ID RG: [*****]

	[signature by DocuSign	[signature by DocuSign]

[signatures from Alessandro Thuller and Edson Ortega by DocuSign]
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[JUCESP filing stamp dated February 15, 2021, number [*****], with bar code]
BancoSeguro S.A.
State Registration (NIRE) 35300360516 | CNPJ 10.264.663/0001-77

MINUTES OF THE EXTRAORDINARY GENERAL MEETING
HELD ON NOVEMBER 30, 2020
DATE, TIME AND PLACE: November 30, 2020, at 9 a.m., in the registered office of BancoSeguro S.A. (“Company”), located at Avenida Brigadeiro Faria Lima, 1.384, 4o andar, parte D, Jardim Paulistano, CEP 01451-001, in the city of São Paulo, State of São Paulo.
CALL NOTICE AND ATTENDANCE: Call notice waived due to the attendance of shareholders representing the total and voting corporate capital of the Company, as per paragraph 4 of article 124 of Law No. 6,404/76 (“Corporation Law” or “LSA”).
PRESIDING BOARD: Chairman: Artur Gaulke Schunck; Secretary: Renato Bertozzo Duarte.
AGENDA: To resolve on (i) the review of the Bylaws’ Article 12, regarding the Ombudsman, in order to reflect new regulatory recommendations of the Central Bank of Brazil (National Monetary Council - CMN Resolution No. 4,860, of October 23, 2020); and (ii) the restatement of the Company’s Bylaws.
RESOLUTIONS: Once the meeting has been instated, after discussing the agenda, the attending shareholder, representing the entire corporate capital of the Company, resolved on the following, without reservations:
(i)To approve the review of the Bylaws’ Article 12, regarding the Ombudsman, in order to reflect new regulatory recommendations of the Central Bank of Brazil (CMN Resolution No. 4,860, of October 23, 2020), which shall now become effective with the following wording:
"Article 12. The Company shall use the Ombudsman structure of PagSeguro Internet S.A. ("PagSeguro”), a payment institution enrolled in the CNPJ under No. 08.561.701/0001-01, under the rules set forth in Chapter V - Ombudsman, of PagSeguro’s Bylaws.
Paragraph 1. In order to appoint, remove and establish the term of office of the Ombudsman, as well as to appoint the Officer responsible for the Ombudsman office, the criteria set forth in Chapter V - Ombudsman of PagSeguro’s Bylaws shall apply, in compliance with the regulations of the National Monetary Council and of the Central Bank of Brazil.
Paragraph 2. The Ombudsman’s purpose is to mediate conflicts which may cause issues, damages, inconvenience or deadlocks to the organization or its internal and external public, assuring the right to respond to statements in the shortest time possible and objectively.
Paragraph 3. The Ombudsman office may not be bound to an organizational component that constitutes conflict of interest or attributions, such as the products and services negotiation, internal audit management and compliance units.
Paragraph 4. The Ombudsman’s purpose is as follows:
(i)to ultimately meet the claims of clients that were not solved through the Company’s primary service channels, with primary being deemed the usual service carried out in any service points or channels, including service provided through outsourced agent companies, pursuant to the regulations in force, and the Consumer Service Line (SAC); and
(ii)to act as a communication channel between the payment institution and its clients, including in conflict mediation.
Paragraph 5. The Ombudsman’s attributions encompass the following:
(i)to service, record, instruct, analyze and give formal and proper treatment to demands from products and services clients;
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(ii)to provide clarification to claimants regarding the progress of their demands, informing the expected response time; and
(iii)to submit the conclusive response to the demand within the expected time;
(iv)to keep the executive board of the Company and of the other companies sharing PagSeguro’s Ombudsman informed on issues and deficiencies found in the performance of its duties and on the results of measures adopted by the institution’s administrators to solve them.
Paragraph 6. The Company:
(i)shall create and maintain proper conditions for the operation of PagSeguro’s Ombudsman, and also for its performance to be based on transparency, independence, impartiality and fairness; and
(ii)shall assure access by PagSeguro’s Ombudsman to the information required to prepare a proper response to the demands received, with full administrative support, and the Ombudsman may request information and documents for the exercise of its activities, in compliance with its duties. ”
(ii)To approve the restatement of the Company’s Bylaws, in compliance with Exhibit I to these Minutes.
FINAL CONSIDERATIONS: The preparation of these minutes in summary form was also authorized, pursuant to paragraph 1 of article 130 of the LSA.
ADJOURNMENT: There being nothing further to add, the work of these Meetings has been adjourned, with these minutes being prepared in summary form, then being read, found to be in order and signed by the Chairman, the Secretary and the shareholders.
SIGNATURES:  Presiding Board: Chairman:    Artur Gaulke Schunck; Secretary: Renato Bertozzo Duarte. Shareholder: BS Holding Financeira Ltda., p. Artur Gaulke Schunck and p.p. Renato Bertozzo Duarte.
I certify that this is a faithful copy of the minutes drawn up in the proper book.
São Paulo (SP), November 30, 2020.
[ICP-Brasil signature certification; details illegible]
Renato Bertozzo Duarte
Presiding Board Secretary
[JUCESP stamp dated February 15, 2021, code [*****], with bar code, signed by Gisela Simiema Ceschin, Secretary General]
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EXHIBIT I
BYLAWS
BANCOSEGURO S.A.
NIRE 35300360516 | CNPJ 10.264.663/0001-77
(restated as per the Extraordinary General Meeting of November 30, 2020)
CHAPTER I
Name, Registered Office, Jurisdiction and Effectiveness
Article 1. The Company is named BancoSeguro S.A. (the “Company”) and it is a financial institution organized as a closed corporation, governed by these Bylaws and the legal and regulatory provisions applicable thereto.
Article 2. The Company’s registered office and jurisdiction are both in the City of São Paulo, State of São Paulo, at Avenida Brigadeiro Faria Lima, 1384, 4th floor, part D, Postal Code CEP 01451-001, São Paulo-SP.
Sole Paragraph. The Company may, upon resolution of the Executive Board and fulfillment of the legal and regulatory requirements, open, transfer or close branches, in the national territory and/or abroad.
Article 3. The Company’s term of effectiveness is indeterminate.
CHAPTER II
Corporate Purpose
Article 4. The Company’s corporate purpose is the practice of all banking transactions, whether as debtor, creditor or in an ancillary manner, inherent to its respective authorized (commercial and investments) portfolios.
CHAPTER III
Corporate Capital and Shares
Article 5. The corporate capital, fully subscribed and paid up in national currency, is of [*****], divided into [*****], [*****] common registered shares, without par value.
Sole Paragraph - Each common share grants its holder the right to one vote in the resolutions of the Company’s General Meeting.
CHAPTER IV
General Meetings
Article 6. The Company’s General Meetings shall occur ordinarily or extraordinarily. Each Ordinary General Meeting shall occur within the first [*****] months following the end of each fiscal year, to discuss, vote and approve the matters set forth in Law No. 6,404, of December 15, 1976, as amended (“Corporation Law”). In addition, the shareholders shall meet in an Extraordinary General Meeting whenever the corporate interests so require.
Paragraph 1. The General Meetings may be called at any moment by any Executive Board member, by any shareholders, upon written request, or also in any other way set forth in the Corporation Law.
Paragraph 2. The General Meetings shall be presided by an officer of the Company and secretaried by any person chosen among those in attendance.
Article 7. The Company shall always prepare, in accuracy and completeness, the minutes of the Meetings of Shareholders, which shall precisely record all resolutions taken, including discussions related to matters which do not lead to unanimous decisions.
Article 8. The General Meeting’s resolutions, save for the exceptions set forth in the law or these Bylaws, shall be taken by shareholders representing, at least, the majority of the Company’s voting corporate capital.
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CHAPTER V
Management
Article 9. The Company’s management and representation is incumbent upon the Executive Board, which shall be comprised of at least two (2) and at the most four (4) members, shareholders or not, residing in Brazil, elected and removable at any time, with an unified term of office of [*****] years, to be extended until their successors elected by the General Meeting are vested in office, reelection allowed; among these, one shall be appointed as Managing Officer, and the others named Officers without specific titles.
Paragraph 1.  The Executive Board is the Company’s executive and representative body,being responsible for assuring its regular operations, with powers to practice any and all acts related to the corporate purposes, except those that by Law or by these Bylaws depend on prior approval of the General Meeting.
Paragraph 2. The elected Executive Board members must be people enjoying an immaculate reputation and displaying renowned professional competence.
Paragraph 3. The appointment of offices in the main section of this article shall occur in the election act.
Paragraph 4. Without prejudice to this article, any Officer may use its title, added by indication of the area which they are responsible for.
Paragraph 5. Upon the election of a new Executive Board member, or of a replacement in case of vacancy, their term of office shall coincide with that of the other elected members.
Paragraph 6. The Executive Board shall meet whenever called by the Managing Officer or by whomever they may appoint.
Paragraph 7. The following are the Managing Officer’s exclusive attributions: I - to coordinate the progress of the Company’s regular activities, including the implementation of guidelines and compliance with the resolutions taken at General Meetings and in the Executive Board meetings; II - to administrate, manage and act as superintendent for the corporate business.
Paragraph 8. The following are the attributions of the Officers with no specific titles: I - to perform the duties attributed thereto; and II - to conduct the activities of the departments and areas under their responsibility.
Paragraph 9. In case of absence or temporary or permanent incapacity, withdrawal or death of any Executive Board member, this vacancy shall be filled by a replacement appointed by the General Meeting to be held for such, with the replacement Officer completing the remaining term of the former Officer.
Article 10. It shall be incumbent upon the Officers to practice the acts required or convenient for the administration of the Company, and for such, they shall have the powers, in addition to others, required to represent the Company in and out of court, as plaintiff or defendant, before third parties, any public departments, Federal, State or Municipal authorities, as well as independent governmental agencies, mixed capital companies and quasigovernmental entities.
Paragraph 1. The Company shall assume covenants before third parties (including its representation in court, as plaintiff or defendant, as well as for the execution of instruments, agreements or documents entailing the Company’s liability or obligation) upon the execution of: (i) any two (2) Officers, acting jointly; (ii) one Officer, jointly with one attorney-in-fact with specific powers; or one attorney-in-fact of the Company, provided that vested with specific powers.
Paragraph 2. The powers of attorney shall be granted on behalf of the Company by any of its Officers and shall have a term of effectiveness limited to [*****] years at the most, except for powers of attorney with court representation powers (ad judicia), which terms of effectiveness may be indeterminate.
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CHAPTER VI
Fiscal Board
Article 11. The Fiscal Board shall not operate permanently, being only installed upon the shareholders’ call, pursuant to the legal provisions.
Paragraph 1. The fiscal board shall be comprised of at least three (3) and at the most five (5) members, with an equal number of alternates, shareholders or not, elected by the General Meeting.
Paragraph 2. When it does not operate permanently, the fiscal board shall be instated by the general meeting upon request of shareholders representing at least one tenth (1/10) of the shares with voting rights, or [*****]% of the shares without voting rights, and each of its operating periods shall end in the first ordinary general meeting after its instatement.
Paragraph 3. The fiscal board’s instatement request, even if the matter is not included in the call notice, may occur in any general meeting, which shall elect its members.
Paragraph 4. The instatement of the fiscal board shall observe the following rules: a) the holders of preferred shares without voting rights, or with restricted voting, shall be entitled to elect, in separate voting, one (1) member and their respective alternate; the minority shareholders shall have the same right, provided that they represent, jointly, [*****]% or more of the shares with voting rights; b) except for the previous item, the other shareholders with voting rights may elect the sitting and alternate members, who, in any circumstance, shall be in equal number of the ones elected under item a, plus one.
Paragraph 5. The fiscal board members and their alternates shall exercise their positions until the first ordinary general meeting held after their election, with reelection being allowed.
Paragraph 6. The fiscal board members and their alternates shall exercise their positions until the first ordinary general meeting held after their election, with reelection being allowed.
Paragraph  7.   The duties of the fiscal board members may not be delegated.
CHAPTER VII
Ombudsman
Article 12. The Company shall use the Ombudsman structure of PagSeguro Internet S.A. (“PagSeguro”), a payment institution enrolled in the CNPJ under No. 08.561.701/0001-01, under the rules set forth in Chapter V - Ombudsman, of PagSeguro’s Bylaws.
Paragraph 1. In order to appoint, remove and establish the term of office of the Ombudsman, as well as to appoint the Officer responsible for the Ombudsman office, the criteria set forth in Chapter V - Ombudsman of PagSeguro’s Bylaws shall apply, in compliance with the regulations of the National Monetary Council and of the Central Bank of Brazil.
Paragraph 2. The Ombudsman’s purpose is to mediate conflicts which may cause issues, damages, inconvenience or deadlocks to the organization or its internal and external public, assuring the right to respond to statements in the shortest time possible and objectively.
Paragraph 3. The Ombudsman office may not be bound to an organizational component that constitutes conflict of interest or attributions, such as the products and services negotiation, internal audit management and compliance units.
Paragraph 4. The Ombudsman’s purpose is as follows:
(i)to ultimately meet the claims of clients that were not solved through the Company’s primary service channels, with primary being deemed the usual service carried out in any service points or channels, including service provided through outsourced agent companies, pursuant to the regulations in force, and the Consumer Service Line (SAC); and
14

(ii)to act as a communication channel between the payment institution and its clients, including in conflict mediation.
Paragraph 5. The Ombudsman’s attributions encompass the following:
(i)to service, record, instruct, analyze and give formal and proper treatment to demands from products and services clients;
(ii)to provide clarification to claimants regarding the progress of their demands, informing the expected response time; and
(iii)to submit the conclusive response to the demand within the expected time;
(iv)to keep the executive board of the Company and of the other companies sharing PagSeguro’s Ombudsman informed on issues and deficiencies found in the performance of its duties and on the results of measures adopted by the institution’s administrators to solve them.
Paragraph 6. The Company:
(i)shall create and maintain proper conditions for the operation of PagSeguro’s Ombudsman, and also for its performance to be based on transparency, independence, impartiality and fairness; and
(ii)shall assure access by PagSeguro’s Ombudsman to the information required to prepare a proper response to the demands received, with full administrative support, and the Ombudsman may request information and documents for the exercise of its activities, in compliance with its duties.
CHAPTER VIII
Fiscal Year, Financial Statements and Profits
Article 13. The year ends on December 31 of each year.
Paragraph 1. At the end of each fiscal year, the Financial Statements set forth in law shall be prepared. The net profits verified shall be destined as follows:
(i)[*****]% as legal reserve, until it reaches [*****]% of the corporate capital;
(ii)at least [*****]% of the adjusted net profit, stipulated pursuant to Article 202 of the Corporation Law, to pay the mandatory minimum dividends to the shareholders;
(iii)the balance’s destination shall be resolved by the General Meeting, in observance of the legal provisions in such regard.
Paragraph 2. The Company may prepare semiannual or quarterly balances, or in any other frequency, in order to assess the profits of the respective periods, which may have the destination chosen by the shareholders.
Paragraph 3. The Company may pay interest on net equity, under Article 9, paragraph 7 of Federal Law No. 9,249/95 and the relevant legislation, which total amounts may be deemed as part of the mandatory minimum dividends.
CHAPTER IX
Liquidation
Article 14. In case of the Company’s liquidation, the legal procedures shall be adopted and observed. The General Meeting shall appoint a liquidator to manage the Company during the liquidation period.
CHAPTER X
Jurisdiction and Dispute Resolution
Article 15. These Bylaws shall be governed and construed under the laws of Brazil.
Article 16. The shareholders elect the Courts of the Judicial District of São Paulo, State of São Paulo to settle any doubts arising from these Bylaws, expressly waiving any other, however privileged it may be.
15

			
	

DocuSign Envelope ID: [*****]
[illegible ICP Brasil certification on all pages of these minutes]
[Logos of BancoSeguro and PagBank]
[JUCESP filing stamp dated June 28, 2021, number [*****], with bar code]
BANCOSEGURO S.A.
CNPJ/ME No. 10.264.663/0001-77
NIRE 35.300.360.516
MINUTES OF THE ORDINARY GENERAL MEETING
HELD ON APRIL 30, 2021
Date, Time and Place: April 30, 2021, at 9:30 a.m., in the registered office of BancoSeguro S.A. (“Company”), located at Avenida Brigadeiro Faria Lima, 1384, 4th floor, part D, Jardim Paulistano, CEP 01451-001, in the City of São Paulo, State of São Paulo.
Call Notice and Attendance: Call notice waived due to the attendance of the shareholder representing the entire voting corporate capital of the Company, as per paragraph 4 of article 124 of Law No. 6,404/76 (“Corporation Law” or “LSA”). Also in attendance, (i) the representatives of independent auditors PricewaterCoopers Auditores Independentes (“PwC”), responsible for auditing the financial statements of the Company pertaining to the fiscal year ended on [******]; and (ii) the Company’s management.
Presiding Board: Artur Gaulke Schunck, Chairman; and Renato Bertozzo Duarte, Secretary.
Publications: Under article 133, paragraph 4 of the LSA, newspaper Agora São Paulo, on page B14 of its March 30, 2021 issue, and the State of São Paulo Official Gazette, on page 264 of its March 30, 2021 issue, on page 525 of its March 31, 2021 issue and on page 171 of its April 1st, 2021 issue, published the Notice to the Shareholders on the availability of the documents pertaining to the fiscal year ended on [******], at the Company’s headquarters. The Financial Statements pertaining to the fiscal year ended on December 31, 2020 were published on newspaper Agora São Paulo and on the State of São Paulo Official Gazette on pages 41, 42, 43 and A13, respectively, on their issues of April 15, 2021.
Agenda: (a) to assess the management accounts, to analyze, discuss and vote the financial statements pertaining to the fiscal year ended on [******], accompanied by explanatory notes and a report with no reservations issued by PwC; (b) to resolve on the destination of the results of the 2020 fiscal year, as well as the capital budget for the 2021 fiscal year; (c) to elect members of the Company’s Executive Board for a new term of office; (d) to establish a limit for the global compensation amount for the Company’s management in 2021.
Resolutions: Once the meeting was instated, after discussing the matters in the agenda, the shareholder in attendance, representing the Company’s entire corporate capital, resolved, without reservations:
(a)To approve the management accounts and the statements pertaining to the fiscal year ended on [******], pursuant to the accounting practices in Brazil, established by the LSA, jointly with the rules of the National Monetary Council (“CMN”), of the Central Bank of Brazil (“BACEN”) and the model of the Accounting Plan of the Institutions of the National Financial System (“COSIF”) and other applicable regulations and legislation, accompanied by explanatory notes and a report without reservations issued by PwC.
(b)To approve the destination of the net profits of the fiscal year ended on [******], in the amount of [*****], with: (i) [*****], corresponding to [*****]% of the assessed amount, destined to the Legal Reserve account, under article 193 of the LSA and item i of article 13 of the Company’s Bylaws (“Bylaws”); (ii) [*****], to be distributed to the shareholder as dividends within [*****] days, in observance of the provision for mandatory dividends set forth in item ii of article 13 of the Bylaws and under article 202 of the LSA; and (iii) the outstanding balance of the net profits, to the profits reserve account, to set off the losses of the previous fiscal year, under item iii of article 13 of the Bylaws and based on the capital budget for 2021.
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(c.1) To acknowledge and ratify the resignation of the Officer without specific title Wagner Chagas Feder, a Brazilian citizen, [*****], business manager, bearer of Identity Card RG No. [*****], enrolled in the CPF under No. [*****], with professional address at Avenida Brigadeiro Faria Lima, 1384, Jardim Paulistano, CEP 01451-001, as per the submission of the Resignation Instrument executed on April 12, 2021, in effect since such date.
(c.2) To elect the members of the Company’s Executive Board for a new unified term of office of [*****] years, which shall last until the Ordinary General Meeting of the Company’s shareholders to be held in 2023: for the position of Managing Officer, Mr. Artur Gaulke Schunck, a Brazilian citizen, in a domestic partnership, bearer of Identity Card RG No. [*****], enrolled in the CPF under No. [*****]; for the positions of Officers without specific titles, Messrs.  Leandro Roberto Rodrigues, a Brazilian citizen, [*****], business manager, bearer of Identity Card RG No. [*****], enrolled in the CPF under [*****], and Marden Silveira Neubert, system analyst, bearer of Identity Card RG No. [*****], enrolled in the CPF under No. [*****]; all domiciled in the City of São Paulo, State of São Paulo, with professional address at Av Brigadeiro Faria Lima, 1384, Jardim Paulistano, CEP 01451-001.
It is hereby agreed in these Minutes that the Executive Board members elected herein shall be vested in their respective offices only after ratification hereof by BACEN, upon the execution of an investiture instrument in the proper book. and they represent that (i) they are free, under the law, to exercise their respective offices and they meet the conditions set forth in CMN Resolution No. 4,122/2012; (ii) they are not prevented from joining the Company’s management; and (iii) they have not been sentenced and are not under the effects of any sentence of a penalty that bars, even if temporarily, access to public offices, or due to crimes of bankruptcy, prevarication, bribery or kickback, graft, embezzlement, unfair trading, forgery, or against the national financial system, antitrust rules, consumer relations, or property, with the respective no impediment statements being filed in the Company’s registered office.
In this sense, the Company’s Executive Board is hereby composed as follows:
						
	Managing 	Artur Gaulke Schunck
	Officer	Leandro Roberto Rodrigues
	Officer	Marden Silveira Neubert

(d) To establish the global compensation amount for the Company’s management for the fiscal year of 2021 at up to [*****], in addition to any shares issued in the Long-Term Incentive Plan.
Adjournment: Nothing further to add, the Chairman suspended the works for the time required to prepare these minutes. Once the sessions restarted, these minutes were read, approved and signed by Presiding Board Chairman, Artur Galke Schunck, by Secretary Renato Bertozzo Duarte and attending shareholder BS Holding Financeira Ltda. (p. Artur Gaulke Schunck and p. Leandro Roberto Rodrigues).
I certify that this is a faithful copy of the minutes drafted in the proper book.
São Paulo (SP), April 30, 2021.
[ICP-Brasil signature certification; details illegible]
Renato Bertozzo Duarte
Presiding Board Secretary
[JUCESP stamp dated June 28, 2021, code [*****], with bar code, signed by Gisela Simiema Ceschin, Secretary General]
17

			
	DocuSign Envelope ID: [*****]

[Logo of DocuSign]
									
	Certificate of Completion
	Envelope Id: [*****]
	Status: Completed
	Subject: DocuSign: BanS – 02. AGO 30.04.2021 – Aprov Contas 2020 e Reeleição_VF.pdf
	Source Envelope:		
	Document Pages: 3	Signatures: 1	Envelope Originator:
	Certificate Pages: 6	Initials: 2	Fernanda Mirtes Milagres Pereira
	AutoNav: Enabled		Av Brigadeiro Faria Lima, 1384
	EnvelopeID Stamping (Envelope ID): Enabled	SP, 01452-002
	Time Zone: (UTC -08:00) Pacific Time (US & Canada)	[*****]
			IP Address: [*****]

									
	Record Tracking		
	Status: Original	Holder: Fernanda Mirtes Milagres Pereira	Location: DocuSign
	May 04, 2021 5:03:10 PM	[*****]	

									
	Signer Events	Signature	Timestamp
	Renato Bertozzo Duarte	DocuSigned by:	Sent: May 04, 2021, 5:03:47 PM
	[*****]	[signature]	Viewed: May 05, 2021 5:29:52 AM
	LEGAL OFFICER	[*****]	Signed: May 05, 2021 5:33:24 AM
	UNIVERSO ONLINE	Signature Adoption: Uploaded Signature Image	
	Security Level: Email, Account Authentication (None), Digital Certificate	Using IP Address: [*****]
	
	Signature Provider Details:		
	Signature type: ICP Smart Card		
	Signature issuer: AC SOLUTI Multipla		
	Electronic Record and Signature Disclosure:		
	Not Offered via DocuSign		

									
	In Person Signer Events	Signature	Timestamp

									
	Editor Delivery Events	Status	Timestamp

									
	Agent Delivery Events	Status	Timestamp

									
	Intermediary Delivery Events	Status	Timestamp

									
	Certified Delivery Events	Status	Timestamp

									
	Carbon Copy Events	Status	Timestamp

									
	Witness Events	Signature	Timestamp

18

			
	DocuSign Envelope ID: [*****]

									
	Notary Events	Signature	Timestamp

									
	Envelope Summary Events	Status	Timestamps
	Envelope Sent	Hashed/Encrypted	May 04, 2021 5:03:47 PM
	Certified Delivered	Security Checked	May 05, 2021 5:29:52 AM
	Signing Complete	Security Checked	May 05, 2021 5:33:24 AM
	Completed	Security Checked	May 05, 2021 5:33:24 AM

									
	Payment Events	Status	Timestamps

19

Central Bank of Brazil
Official Letter [******]/2021-BCB/Deorf/GTSP1
São Paulo, May 27, 2021
To
BancoSeguro S.A.
Attn.: Mr. Artur Gaulke Schunck – Managing Officer
Subject: Request grant communication.
Dear Sirs,
We inform that the Central Bank of Brazil, upon an order on the date hereof, approved the following subject, as resolved on the Ordinary General Meeting held on April 30, 2021:
a) election of the Executive Board members, whose terms of office shall extend until the investiture of the members elected in the Ordinary General Meeting of 2023:
									
	CPF	Name	Title
	[*****]	Artur Gaulke Schunck	Managing Officer
	[*****]	Leandro Roberto Rodrigues	Officer without specific title
	[*****]	Marden Silveira Neubert	Officer without specific title

2.    This Company shall, within the regulatory term of five business days as of the event date, directly record in the system of Information on Entities of Interest to the Central Bank - Unicad the investiture date of the elected members, and also be mindful of the other information to be provided in Unicad, as per the procedures described in the Financial System Organization Guide - Sisorf 4.14.70.
Regards,
						
	Marcelo Alexandre Rodrigues	Renato Salgado Beato
	Technical Manager	Coordinator

Financial System Organization Department (Deorf)
Technical Management Office in São Paulo 1 (GTSP1)
Phone: (11) 3491-6115 / 3491-6615
Email: [*****]r

Document issued by the e-BC system of the Central Bank of Brazil and digitally signed as per Provisional Decree (MP) No. 2,200-2, of August 24, 2001 – NUP: [*****]
[ICP Brasil logo]
[illegible documents – pages 28-39 of the PDF] 
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DocuSign Envelope ID: [*****]
[Notary Office letterhead, including bar code and the following address information on odd pages:
Rua Rego Freitas 133 137 143 República – São Paulo – SP
Phone 11 3357-8844]
[Stamp from Douglas de Campos Gavazzi, Deputy Notary of the 2nd Notary Public Office, on all pages]
2nd NOTARY PUBLIC OFFICE
SÃO PAULO – SP
JUDICIAL DISTRICT OF SÃO PAULO
ANDERSON HENRIQUE TEIXEIRA NOGUEIRA
1st Transcript of Book No. 3020 – Pages 11/14
POWER OF ATTORNEY GRANTED BY: BANCOSEGURO S.A.
Know all men by this Power of Attorney that on the [*****] day of the month of January of year two thousand and twenty-one (01/20/2021), in the city of São Paulo, State of São Paulo, at Avenida Brigadeiro Faria Lima 1,384, 4th floor, Part C, Jardim Paulistano, CEP 01451-001, where I was called by Vinícius Sousa Nogueira, Licensed Clerk from the 2nd Notary Public Office of the Judicial District of São Paulo, the following Grantor appeared before me: 1) BANCOSEGURO INTERNET S.A., headquartered in the city of São Paulo, State of São Paulo, at Avenida Brigadeiro Faria Lima 1384, 4th floor, Part D, Jardim Paulistano – Postal Code (CEP) 01451-000, enrolled with the Corporate Taxpayers’ Registry of the Ministry of Economy (CNPJ/MF) under No. 10.264.663/0001-77, whose Restated Bylaws were approved by the Extraordinary General Meeting held on July 15, 2020 and registered with the Commercial Registry of the State of São Paulo – JUCESP, under No. 323.036/20-0, in the session held on August 21, 2020, together with its registration form issued by JUCESP on January 19, 2021, which certified copies are registered herein, with reference to this notary office, herein represented pursuant to Chapter V – Management, articles 9 and 10, paragraphs 1 and 2 of such Restated Bylaws, by its Bylaws-appointed Officers: ARTUR GAULKE SCHUNCK, a Brazilian citizen, [*****], business manager, bearer of identity card (RG) No. [*****], enrolled in the Individual Taxpayers’ Registry of the Ministry of Economy (CPF/ME) under No. [*****], elected pursuant to the Minutes of the Extraordinary General Meeting held on January 04, 2019, duly registered under No. [*****], session held on March 29, 2019 at JUCESP, which Minutes are filed herein, with reference to this notary office, and LEANDRO ROBERTO RODRIGUES, a Brazilian citizen, [*****], business manager, bearer of identity card RG No. [*****], enrolled in the CPF/ME under No. [*****], both with professional address at Avenida Brigadeiro Faria Lima 1384, Jardim Paulistano, CEP 01451-001, elected pursuant to the Minutes of the Extraordinary General Meeting held on November 10, 2020, duly registered under No. 545.953/20-0, session held on December 23, 2020 at JUCESP, which Minutes are filed herein, with reference to this notary act; I hereby confirm the identity of the persons who have appeared before me, the clerk, through the aforementioned documents that were presented to me in their original forms, which I certify. Grantor, as represented, hereby lawfully appoints and constitutes through this public instrument as its attorneys-in-fact: GROUP A: 1) EDUARDO ALCARO, a Brazilian citizen, [*****], business manager, bearer of identity card RG No. [*****], enrolled with the CPF/ME under No. [*****], with business address at Avenida Brigadeiro Faria Lima 1384, Jardim Paulistano, CEP 01451-001; 2) MARCELO CRUZ DE HAIDAR JORGE, a Brazilian citizen, [*****], mathematician, bearer of Identity Card RG No. [*****], enrolled in the CPF/ME under No. [*****], with business address at Avenida Brigadeiro Faria Lima 1384, Jardim Paulistano, CEP 01451-001; 3) MARIA JUDITH DE BRITO, a Brazilian citizen, [*****], business manager, bearer of identity card RG No. [*****], enrolled in the CPF/ME under No. [*****], with professional address at Avenida Brigadeiro Faria Lima 1384, Jardim Paulistano, CEP 01451-001; 4) RENATO BERTOZZO DUARTE, a Brazilian citizen, [*****], lawyer, bearer of identity card RG No. [*****] enrolled in the CPF/ME under No. [*****], with professional address at Avenida Brigadeiro Faria Lima 1384, Jardim Paulistano, CEP 01451-001; 5) RICARDO DUTRA SILVA, a Brazilian citizen, in a domestic partnership, production engineer, bearer of identity card RG No. [*****], enrolled in the CPF/ME under No. [*****], with business address at Avenida Brigadeiro Faria Lima 1384, Jardim Paulistano, CEP 01451-001; 6) ROGILDO TORQUATO LANDIM, a Brazilian citizen, [*****], advertising executive, bearer of identity card RG No. [*****], enrolled in the CPF/ME under No. [*****], with business address at Alameda Barão de Limeira 425, Campos Elíseos, CEP 01202-900; GROUP B: 1) EDUARDO RICCI JORGE, a Brazilian citizen, [*****], business manager, bearer of identity card RG No. [*****], enrolled in the CPF/ME under No. [*****], with business address at Avenida Brigadeiro Faria Lima 1384, Jardim Paulistano, CEP 01451-001; to whom it grants powers to - GROUP A: (a) always jointly, as two (2) Attorneys-in-fact or one (1) Attorney-in-fact and one (1) Bylaws-appointed Officer of 
21

Grantor, up to the amount of [*****], and (b) always jointly, as one (1) Attorney-in-fact and one (1) Bylaws-appointed Officer of Grantor, for amounts higher than [*****], a) buy, sell, commit to sell goods in its line of business, execute letters, agreements, banking agreements in general, including convention and service agreements, and any other documents needed for the regular exercise of Grantor’s activities, in order to enable the completion of Grantor’s corporate purpose; to hire, dismiss, warn and suspend employees, grant vacation periods, enact instructions and service orders; b) represent Grantor before any Public Federal, State and Municipal authorities and independent governmental agencies in general; before Foreign Trade Departments, the Brazilian Federal Revenue Office, Treasury Office of the State of São Paulo, Finance Office of the City of São Paulo and other Municipalities, Office of the General Counsel for the National Treasury, Department of Justice, Social Security National Institute (“INSS”), Ministry of Labor, Regional Labor Authority, Caixa Econômica Federal, Depositary Banks of the Unemployment Compensation Fund – FGTS, SICREDI, Class Unions, SERASA c) execute products purchase and sale agreements, and import and export agreements; d) represent Grantor in the purchase, subscription or transfer of equity interest in Brazil or abroad, as well as represent Grantor as partner or shareholder in companies in Brazil and/or abroad; rent, lease, purchase, sell, assign, commit to assign, mortgage, exchange, grant as debt settlement, share, ratify and rectify or by any form or on any account, acquire, dispose of and encumber any and all personal property, real estate, phone lines, machinery and accessories, rights, titles, shares, vehicles and other assets of any type, being able to: pay and receive amounts, down payments, installments and rents, providing and accepting invoices and releases; grant, accept and execute, as well as re-ratify, any deeds or private instruments, transfer and obtain possession, domain, rights and shares, respond to an action for eviction filed by, or file an action for eviction against third parties, authorize real estate registration, entry and cancellation; for the practice of such acts, including the disposal and encumbrance of in rem guarantees on real estate held by Grantor, a prior resolution by the Executive Board shall be needed, in observance of article 1,015 of the Brazilian Civil Code; e) obtain loans from any financial institution, including Caixa Econômica Federal for the performance of Grantor’s corporate purposes, execute agreements and other necessary documents; f) represent Grantor before municipal governments, sign blueprints, descriptive memoranda, in general notary public offices, utility service companies for water, gas and power, Insurance Companies, INSS - Social Security National Institute, DSV – Road System Operational Department, DETRAN – State Traffic Department, TELEFONICA – Telecomunicações de São Paulo, ANATEL – National Telecommunication Agency, EMBRATEL – Empresa Brasileira de Telecomunicações S.A., and their subsidiaries, as well as any other telephone Companies, Commercial Registries, being able to sign Grantor’s commercial records, Unions, Income Tax Regional Offices, Tax Regions and Collection Department, Brazilian Federal Revenue Service Office, Consulates, Embassies, Post Office (“Empresa Brasileira de Correios e Telégrafos”), receiving its general correspondence, with registered value or not, postal orders, “collis postaux”, Labor Courts, where it may appoint agents to solve labor matters, Regional Labor Office, Insurance Companies and before other individuals and legal entities, whether public or private, in all of their bodies, departments and sections; request, claim, promote and execute all that may become necessary, provide evidence and statements, file and withdraw papers and documents, follow up on proceedings until the final decision; g) also represent Grantor before Banks, State and Federal Savings Banks (Caixa Econômica Federal and Caixa Econômica Estadual), Banco do Brasil S.A., including before the Brazilian Central Bank, and other bank institutions, being allowed to open and close checking accounts, operating them electronically or through checks, invoices, orders or letters in order to settle accounts and financial commitments of Grantor; issue, sign and endorse checks, bills of exchange; investment orders and money transfers; request checkbooks, account balances and statements; sign bank-issued invoices to trade foreign exchange in the foreign exchange market, endorsement in import documentation consigned at bank, liability instruments related to financial remittance or payments abroad, stop payment on the check, make withdrawals upon receipt, authorize debits, transfers and payments through letters; receive any amounts due, on any account and from anyone, providing the necessary receipts and debt releases; issue, endorse, accept, accommodate accounts, promissory notes, bills of exchange, give promissory notes as security, executing the relevant agreements, proposals and lists of negotiable instruments; sign all mail from Grantor, including mail sent to banks, providing instructions on titles, authorizing discounts, extensions of due dates, protests in the Financial Market; h) sign authorization to operate activities in the account linked to the Unemployment Compensation Fund – FGTS; i) grant public and private powers of attorney, including court representation powers (ad judicia) (with powers from the et extra clause), on behalf of Grantor; anyhow, to practice all other acts that may be necessary for the good and proper performance hereof; 2) GROUP B: (a) always jointly with one (1) Attorney-in-fact from GROUP A or one (1) Bylaws-appointed Officer of Grantor, up to the amount of [*****]; and (b) always jointly with one (1) Bylaws-appointed Officer of Grantor, for amounts higher than [*****], being able to represent Grantor before Banks, State and Federal Savings Banks (Caixa Econômica Federal and Caixa Econômica Estadual), Banco do Brasil S.A., including before the Brazilian 
22

Central Bank, and other bank institutions, being allowed to open and close checking accounts, operating them electronically or through checks, invoices, orders or letters in order to settle accounts and financial commitments of Grantor; execute banking agreements in general, including convention and banking service agreements; issue, sign and endorse checks, bills of exchange; investment orders and money transfers; request checkbooks, account balances and statements; sign bank-issued invoices to trade foreign exchange in the foreign exchange market, endorsement in import documentation consigned at bank, liability instruments related to financial remittance or payments abroad, stop payment on the check, make withdrawals upon receipt, authorize debits, transfers and payments through letters; receive any amounts due, on any account and from anyone, providing the necessary receipts and debt releases; issue, endorse, accept, accommodate accounts, promissory notes, bills of exchange, give promissory notes as security, executing the relevant agreements, proposals and lists of negotiable instruments; sign all mail from Grantor, including mail sent to banks, providing instructions on titles, authorizing discounts, extensions of due dates, protests in the Financial Market; anyhow, to practice all other acts that may be necessary for the good and proper performance hereof. The sub-delegation of this power of attorney is forbidden. This power-of-attorney will be valid for [*****] years, as of the date hereof, or for as long as GRANTEES’ employment bond with GRANTOR is maintained, and in case it ends, the effects of this power of attorney shall cease in relation to the respective GRANTEE. All documents mentioned herein that must be filed are on the date hereof physically filed for the legal term with this 2nd Notary Public Office of the Judicial District of São Paulo, in their own folders, having as reference the numbers of book and pages hereof, and they were scanned under the order number of the digital record hereof, pursuant to Chapter XIV, volume II, of the Service Rules of the Disciplinary Board of the Courts of the State of São Paulo. After the foregoing statements, which I attest, the parties requested that I draft this instrument, which, after being read aloud and clearly, was found to be in conformity, being approved and granted by the parties, who have signed it, which I certify. I, Vinícius Sousa Nogueira, Clerk, wrote this document. I, Douglas de Campos Gavazzi, Deputy Notary, signed it (signatures) // ARTUR GAULKE SCHUNCK, LEANDRO ROBERTO RODRIGUES. TRANSCRIPT prepared on January 26, 2021. I, [signature], (REGINALDO MANOEL DO NASCIMENTO) Clerk, printed this transcription. I, Douglas de Campos Gavazzi, Deputy Notary, verified this instrument, signed it and hereunto set my hand and seal.
IN WITNESS WHEREOF
[signature]
Douglas de Campos Gavazzi
DEPUTY NOTARY
COSTS AND FEES: To the Notary Public Office: [*****]; To the State Government: [*****]; To the Treasury Office: R[*****]; To Hospital Santa Casa: [*****]; To the Civil Registry: [*****]; To the Court of Appeals: [*****]; To the Municipal Tax: [*****]; To the Public Prosecutor’s Office: [*****]; [*****].
REGISTRATION No. [*****]
[QR code]
ELECTRONIC SEAL: [*****] - [*****]
23

[Logo of DocuSign]
									
	Certificate of Completion
	Envelope Id: [*****]
	Status: Completed
	Subject: DocuSign: Formulário Contrato Docusign ID – BancoSeguro.docx, Contrato ID Visa – BancoseguroSA...
	Source Envelope:		
	Document Pages: 43	Signatures: 8	Envelope Originator:
	Certificate Pages: 6	Initials: 11	Visa do Brasil – Contracts Department
	AutoNav: Enabled		AV PRESIDENTE JUSCELINO KUBITSCHEK 1909
	EnvelopeID Stamping: Enabled	- ANDAR 3 CONJ 31
	Time Zone: (UTC -08:00) Pacific Time (US & Canada)	SP, 04543907
			[*****]
			IP Address: [*****]

									
	Record Tracking		
	Status: Original	Holder: Visa do Brasil – Contracts Department	Location: DocuSign
	November 29, 2021 1:47:38 PM	[*****]	

									
	Signer Events	Signature	Timestamp
	Marcos Jesus Pereira	DocuSigned by:	Sent: November 29, 2021, 1:56:46 PM
	[*****]	[signature]	Viewed: November 29, 2021 1:57:10 PM
	Security Level: Email, Account Authentication (None)	[*****]	Signed: November 29, 2021 1:58:44 PM
		Signature Adoption: Pre-selected Style	
		Using IP Address: [*****]
	
	Electronic Record and Signature Disclosure:		
	Accepted: November 29, 2021 1:57:10 PM		
	ID: [*****]
		
			
	Natani Ventura Azevedo	DocuSigned by:	Sent: November 29, 2021, 1:58:47 PM
	[*****]	[signature]	Viewed: November 30, 2021 4:52:56 AM
	Lawyer	[*****]	Signed: November 30, 2021 5:00:50 AM
	UNIVERSO ONLINE S.A.	Signature Adoption: Uploaded Signature Image	
	Security Level: Email, Account Authentication (None)	Using IP Address: [*****]
	
	Electronic Record and Signature Disclosure:		
	Accepted: November 10, 2021 10:45:23 AM		
	ID: [*****]
		

24

									
			
	ARTUR GAULKE SCHUNCK	DocuSigned by:	Sent: November 30, 2021, 5:00:55 AM
	[*****]	[signature]	Viewed: November 30, 2021 5:30:48 AM
	Chief Financial Officer	[*****]	Signed: November 30, 2021 5:31:10 AM
	Security Level: Email, Account Authentication (None)	Signature Adoption: Pre-selected Style	
		Using IP Address: [*****]
	
	Electronic Record and Signature Disclosure:		
	Accepted: November 30, 2021 5:30:48 AM		
	ID: [*****]
		
			
	Leandro Roberto Rodrigues	DocuSigned by:	Sent: November 30, 2021, 5:31:15 AM
	[*****]	[signature]	Viewed: November 30, 2021 5:54:26 AM
	Treasury Officer	[*****]	Signed: November 30, 2021 5:55:01 AM
	Security Level: Email, Account Authentication (None)	Signature Adoption: Pre-selected Style	
		Using IP Address: [*****]
	
	Electronic Record and Signature Disclosure:		
	Accepted: November 30, 2021 5:54:26 AM		
	ID: [*****]
		
			
	Jorge Neto	DocuSigned by:	Sent: November 30, 2021, 5:55:07 AM
	[*****]	[signature]	Viewed: November 30, 2021 6:14:50 AM
	Client Services	[*****]	Signed: November 30, 2021 6:23:18 AM
	Visa	Signature Adoption: Pre-selected Style	
	Security Level: Email, Account Authentication (None)	Using IP Address: [*****]
	
	Electronic Record and Signature Disclosure:		
	Not Offered via DocuSign		
			
	Alessandro Thuller	DocuSigned by:	Sent: November 30, 2021, 6:23:24 AM
	[*****]	[signature]	Viewed: November 30, 2021 1:24:27 PM
	Compliance Officer	[*****]	Signed: November 30, 2021 1:34:29 PM
	Visa do Brasil	Signature Adoption: Pre-selected Style	

25

									
	Security Level: Email, Account Authentication (None)	Using IP Address: [*****]
	
	Electronic Record and Signature Disclosure:		
	Not Offered via DocuSign		
			
	Edson Ortega	DocuSigned by:	Sent: November 30, 2021, 1:34:34 PM
	[*****]	[signature]	Viewed: November 30, 2021 2:00:33 PM
	Vice President for LAC Ecosystem Risk and Brazil Payment Risk	[*****]	Signed: November 30, 2021 2:02:00 PM
	Visa do Brasil	Signature Adoption: Pre-selected Style	
	Security Level: Email, Account Authentication (None)	Using IP Address: [*****]
	
	Electronic Record and Signature Disclosure:		
	Not Offered via DocuSign		
			
	Luciane Lima	DocuSigned by:	Sent: November 30, 2021, 2:02:07 PM
	[*****]	[signature]	Resent: December 1, 2021 4:13:20 PM
	Finance Executive Officer	[*****]	Resent: December 8, 2021 4:25:16 AM
	Visa do Brasil Empreendimentos Ltda	Signature Adoption: Pre-selected Style	Viewed: December 8, 2021 4:32:45 AM
	Security Level: Email, Account Authentication (None)	Using IP Address: [*****]
	Signed: December 8, 2021 4:34:01 AM
	Electronic Record and Signature Disclosure:		
	Accepted: December 8, 2021 4:32:45 AM		
	ID: [*****]
		
			

									
	In Person Signer Events	Signature	Timestamp

									
	Editor Delivery Events	Status	Timestamp

									
	Agent Delivery Events	Status	Timestamp

									
	Intermediary Delivery Events	Status	Timestamp

									
	Certified Delivery Events	Status	Timestamp

									
	Carbon Copy Events	Status	Timestamp

									
	Witness Events	Signature	Timestamp

26

									
	Notary Events	Signature	Timestamp

									
	Envelope Summary Events	Status	Timestamps
	Envelope Sent	Hashed/Encrypted	November 29, 2021 1:56:47 PM
	Certified Delivered	Security Checked	December 8, 4:32:45 AM
	Signing Complete	Security Checked	December 8, 4:34:01 AM
	Completed	Security Checked	December 8, 4:34:01 AM

									
	Payment Events	Status	Timestamps
	Electronic Record and Signature Disclosure

Electronic Record and Signature Disclosure created on: August 14, 2018, 12:10:11 PM
Parties agreed to: Marcos Jesus Pereira, Natani Ventura Azevedo, ARTUR GAULKE SCHUNCK, Leandro Roberto Rodrigues, Luciane Lima
CONSUMER DISCLOSURE
From time to time, Visa do Brasil (we, us or Company) may be required by law to provide to you certain written notices or disclosures. Described below are the terms and conditions for providing to you such notices and disclosures electronically through the DocuSign, Inc. (DocuSign) electronic signing system. Please read the information below carefully and thoroughly, and if you can access this information electronically to your satisfaction and agree to these terms and conditions, please confirm your agreement by clicking the ‘I agree’ button at the bottom of this document.
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At any time, you may request from us a paper copy of any record provided or made available electronically to you by us. You will have the ability to download and print documents we send to you through the DocuSign system during and immediately after signing session and, if you elect to create a DocuSign signer account, you may access them for a limited period of time (usually [*****] days) after such documents are first sent to you. After such time, if you wish for us to send you paper copies of any such documents from our office to you, you will be charged a $0.00 per-page fee. You may request delivery of such paper copies from us by following the procedure described below.
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27

All notices and disclosures will be sent to you electronically
Unless you tell us otherwise in accordance with the procedures described herein, we will provide electronically to you through the DocuSign system all required notices, disclosures, authorizations, acknowledgements, and other documents that are required to be provided or made available to you during the course of our relationship with you. To reduce the chance of you inadvertently not receiving any notice or disclosure, we prefer to provide all of the required notices and disclosures to you by the same method and to the same address that you have given us. Thus, you can receive all the disclosures and notices electronically or in paper format through the paper mail delivery system. If you do not agree with this process, please let us know as described below. Please also see the paragraph immediately above that describes the consequences of your electing not to receive delivery of the notices and disclosures electronically from us.
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You may contact us to let us know of your changes as to how we may contact you electronically, to request paper copies of certain information from us, and to withdraw your prior consent to receive notices and disclosures electronically as follows:
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To let us know of a change in your e-mail address where we should send notices and disclosures electronically to you, you must send an email message to us at [*****] and in the body of such request you must state: your previous e-mail address, your new e-mail address. We do not require any other information from you to change your email address.
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To request delivery from us of paper copies of the notices and disclosures previously provided by us to you electronically, you must send us an e-mail to [*****] and in the body of such request you must state your e-mail address, full name, US Postal address, and telephone number. We will bill you for any fees at that time, if any.
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28

Required hardware and software

						
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	800 x 600 minimum
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** These minimum requirements are subject to change. If these requirements change, you will be asked to re-accept the disclosure. Pre-release (e.g. beta) versions of operating systems and browsers are not supported.
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To confirm to us that you can access this information electronically, which will be similar to other electronic notices and disclosures that we will provide to you, please verify that you were able to read this electronic disclosure and that you also were able to print on paper or electronically save this page for your future reference and access or that you were able to e-mail this disclosure and consent to an address where you will be able to print on paper or save it for your future reference and access. Further, if you consent to receiving notices and disclosures exclusively in electronic format on the terms and conditions described above, please let us know by clicking the ‘I agree’ button below.
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•Until or unless I notify Visa do Brasil as described above, I consent to receive from exclusively through electronic means all notices, disclosures, authorizations, acknowledgements, and other documents that are required to be provided or made available to me by Visa do Brasil during the course of my relationship with you.

29Document

									
		
			

    CT:02900/19   Exhibit 4.43
			
	SERVICE AGREEMENT AND OTHER COVENANTS

The following parties have decided to enter into this private Instrument, and are hereinafter jointly referred to as “Parties”, and individually as “Party”. On one side:

PAGSEGURO INTERNET S.A., private corporation, headquartered in the City of São Paulo, State of São Paulo, at Avenida Brigadeiro Faria Lima, No. 1384, 4o andar – Parte A, Jardim Paulistano, Brasil, CEP 01451-001, enrolled with the Corporate Taxpayers’ Registry of the Ministry of Finance (“CNPJ/MF”) under No. 08.561.701/0001-01, herein represented by its undersigned legal representatives, hereinafter referred to as "PAGSEGURO" and/or “CLIENT”; and UNIVERSO ONLINE S/A., corporation, headquartered in the City of São Paulo, State of São Paulo, at Av. Brigadeiro Faria Lima, 1384, 6o andar, enrolled with CNPJ/MF under No. 01.109.184/0001-95, hereinafter represented pursuant to its Bylaws, hereinafter simply referred to as “UOL” and/or “CLIENT”, both parties are jointly referred to as CLIENTS; and on the other side;

INVILLIA - DESENVOLVIMENTO DE PRODUTOS DIGITAIS LTDA., headquartered at Rua Padre Duarte, No 151, Conj. 181 Edif. Empresarial América, Centro, Araraquara – SP, enrolled with CNPJ/MF under No. 04.654.734/0001-45, herein duly represented pursuant to its corporate acts in force, hereinafter referred to as SERVICE PROVIDER.

CLIENTS and SERVICE PROVIDER are hereinafter jointly referred to as “Parties”, and individually as “Party”; The Parties hereby execute this Service Agreement and Other Covenants (“Agreement”), and mutually accept, grant, and agree to fully comply with this Instrument, pursuant to its terms and conditions below.

1.PURPOSE

1.1The purpose of this Agreement is to provide software advisory, development, implementation, maintenance, and management services upon allocation of expert professionals by the SERVICE PROVIDER (“Services”), in compliance with the business rules and procedures established by the CLIENTS pertaining to the scope hereof, provided that the coverage of the Services provided shall be defined through specific Technical and Business Proposal(s), which shall automatically be an integral part of this Agreement as exhibits upon ratification and acceptance by the Parties.

1.1.1In addition to the other proposals that may become an integral part hereof, we have the following documents that are an integral and supplementary part of this AGREEMENT:     
         
 [*****]
 [*****]
 [*****]
 [*****]
 [*****]
 [*****]
 [*****]
 [*****]
 [*****]
 [*****]
 [*****]
 [*****]

12.3.Each request to be carried out by the SERVICE PROVIDER shall be subject to a specific Proposal, in which all the characteristics of the service shall be provided in a detailed and thorough way.

1.2The SERVICE PROVIDER expressly represents that the Services to be carried out comprise its corporate purpose - and it holds the know-how and experience required for its proper performance - as well as it 
			
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has all records and licenses required for its provision with the CLIENTS, and there are no restriction or obstruction in this regard.
			
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    CT:02900/19
1.3The SERVICE PROVIDER shall be exclusively responsible for the Services to be provided to the CLIENTS, and it may not outsource the Services, except upon prior written authorization from the CLIENTS.

1.4If there is any discrepancy between the provisions in the Proposals and the provisions herein, the Agreement shall supersede all other provisions, except matters concerning the amounts included only in the Proposals.

2.ACCESS TO THE CLIENTS’ NETWORK

2.1.The SERVICE PROVIDER, on its own account and on the account of its employees, agents, as well as of everyone who may be involved in the use of the relevant equipment, shall be responsible for the access to the CLIENTS’ Corporate network, and shall be jointly responsible for the compliance with the access security rules of the CLIENTS, which must be followed, as shown below:

a)It is aware that it has read and understood this Agreement;

b)It is responsible for the compliance with the requirements herein, as well as with the Corporate Network Access Policy of the CLIENTS; 

c)It shall inform its employees, agents and everyone who is involved in the use of the relevant equipment on the requirement to comply with the rules herein established; and

d)It shall provide together with its employees, agents, and everyone who may be involved, the execution of the individual Liability Agreement for the use of equipment and access.

2.2.The SERVICE PROVIDER acknowledges and agrees that:

a)The access to the CLIENTS’ Corporate Network is exclusive for the specific use related to the purpose hereof, excluding any other type of activity or access;

b)The liabilities established herein are valid regardless of the physical location of the SERVICE PROVIDER;

c)Pursuant to the security policy of the CLIENTS, the protection of confidentiality and the proper handling of information accessed is the sole responsibility of the SERVICE PROVIDER;

d)The system to access the CLIENTS’ Corporate Network ensures the authenticity and non-repudiation of accesses and operations performed by the SERVICE PROVIDER;

e)All access and operations are recorded and may be audited at any time, without prior notice, by the CLIENTS’ information security and human resources departments;

f)Password, software license of the CLIENTS or acquired from third-parties for the CLIENTS, and any device provided for the access to the CLIENTS’ network are for personal use, non-transferable, and the responsibility of the SERVICE PROVIDER;

g)All security requirements and controls included in the CLIENTS’ Corporate Network secure access policy must be used by the SERVICE PROVIDER and its employees, agents, and others with access;

h)Only equipment that meets the minimum requirements defined by the CLIENTS’ security department
are authorized and permitted for the access to the CLIENTS’ Corporate Network. 
			
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    CT:02900/19
The SERVICE PROVIDER under no circumstance may use equipment that was not officially approved by the CLIENTS to provide the services subject matter hereof;

i)The architecture and system used to access the CLIENTS’ Corporate Network must be the one indicated by the CLIENTS’ security department, to the exclusion of any other.

j)The equipment used to access the CLIENTS’ Corporate Network must use only operational systems, antivirus software, personal firewall, and anti-spyware officially approved and indicated by the CLIENTS’ Corporate Support.

k)The SERVICE PROVIDER must promptly notify the CLIENTS upon identification of any security incident or undue access; and

l)The SERVICE PROVIDER is responsible for the use of the equipment, holding the CLIENTS harmless from any responsibility, and from any damages caused to it while providing the services subject matter hereof. The SERVICE PROVIDER must watch over the security of the equipment.

2.3.Taking into account that for the proper provision of the Services, employees of the SERVICE PROVIDER may be allocated at the CLIENTS’ environment and, for that, the SERVICE PROVIDER may have access to the CLIENTS’ Corporate Network. The SERVICE PROVIDER hereby declares to acknowledge that its employees shall be jointly liable for the compliance with the CLIENTS’ access security rules, which includes, but is not limited to:

i.Being responsible for the compliance with the requirements included herein, as well as the CLIENTS’ Corporate Network Access Policy, Grupo UOL’s Compliance Code, Grupo UOL’s Code of Ethics and Conduct and the CLIENTS’ Information Security Policy, which shall be made available by the SERVICE PROVIDER;
ii.Informing to employees on the mandatory nature of the compliance with the rules established herein;
iii.Providing together with its employees the execution of the individual Liability Agreement for the use of equipment and access;
iv.Prohibition of e-mail signatures or other types of communication on behalf of the CLIENTS, also being forbidden the use of corporate template of e-mail signature.
v.Prohibiting the use of business cards on behalf of the CLIENTS or any other visual identity binding the service provider as an employee of the CLIENTS;
vi.Not authorizing Third Parties to disclose, in any meetings, telephone contact, e-mail, or by any other mean, any confidential information or any information that may grant privilege or merit legal protection, such as corporate, technical, business, or financial information or information associated to trade secrets, technologies, software, commercial, operational or business plans, processes, projects, creations, ideas, concepts, developments, drawings, names, brands and/or logos, among other information or data that are not generally known by the public and that may be characterized as the CLIENTS’ intellectual property;
vii.Not practicing any act of corruption, fraud, and extortion, nor offering/accepting bribe or any other type of illegal incentive, complying with the terms of anti-corruption law, pursuant to section 14.7 below.

3.OBLIGATIONS OF THE LICENSOR

3.1In addition to the provisions herein, the following are obligations of the SERVICE PROVIDER:

3.1.1To provide the Services hired in compliance with technical specifications and standards agreed with the CLIENTS herein and in each Proposal, using qualified workforce, duly trained to perform the Services.

3.1.2To perform the implementation, complying with the efficiency, rationality, and security of the systems, in addition to analyzing and solving technical issues, and developing technical handbooks, if needed.
			
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    CT:02900/19
3.1.3To be responsible for the schedules prepared with the CLIENTS, being allowed to propose changes, estimate the needs of additional resources, and even suggest alternate schedules, whenever necessary and mutual agreement between the Parties, always in an expressive and directed way.

3.1.4To provide meals, transportation, and accommodation to its employees, if needed, due to the purpose hereof.

3.1.5To provide detailed reports about the services to the CLIENTS, upon prior and express request from the CLIENTS, including report of all occurrences of the Services performance (compliance with deadlines, shortages, problems with installations, inter-personal relationship, etc.).

3.1.6To provide the CLIENTS with the means and facilities required to monitor the Services, promptly and unrestrictedly complying with all requests.

3.1.7To replace any of its Employees whose conduct breaches internal rules of the CLIENTS or upon simple request by the CLIENTS.

3.1.8To watch over the safekeeping and maintenance of the equipment and location of service provision that may be made available by the CLIENTS.

3.1.9To be liable for all tax, administrative, social security and civil obligations arising from this Agreement, and all documentation proving so shall be available to the CLIENTS.

3.1.10Be fully liable for all and any damage or loss that may be caused to the CLIENT or third parties as a result of performance hereof.

3.1.11To require the exclusion of the CLIENTS from any dispute in which they are involved, due to an act or deed under the SERVICE PROVIDER’s liability, arising from this Agreement, being included, as a consequence, as defendant in the dispute.

3.1.11.1The CLIENTS shall notify the SERVICE PROVIDER about any court order and/or administrative proceeding that it may be involved in as a result of this Agreement and, if it is not possible to exclude the CLIENTS as plaintiff or at its sole discretion, the SERVICE PROVIDER, without prejudice to the obligation under section 3.1.11, must provide the CLIENTS with information, evidence and/or witnesses for the defense, which will be conducted at the sole discretion of the CLIENTS.

3.1.12To reimburse the CLIENTS for all and any amount that the CLIENTS spent by virtue of an unappealable decision, whether administrative or rendered by the court, due to an act or deed by the SERVICE PROVIDER, within [*****] business days as from the delivery of the payment slip concerning such expenses.

3.1.13To adopt all necessary measures so that Employees that were dismissed from the provision of the Services do not enter the CLIENTS’ facilities, keeping the CLIENTS informed about all dismissals.

3.1.14Not to employ any of the CLIENTS’ former employees in the performance of the Services subject matter hereof, except upon prior and express notice from the CLIENTS.

3.1.15Not to allow persons under eighteen (18) years of age to work at the night shift, or to perform hazardous or unhealthy activities, as well as not to allow persons under sixteen (16) years of age to perform any work whatsoever, except as apprentice from fourteen (14) years of age, pursuant to the provisions in section 7, item XXXIII of the Brazilian Federal Constitution.

3.1.16Not to perform any practices of negative and restrictive discrimination when hiring or dealing with employees, such as, but not limited to, by virtue of: gender, origin, race, skin color, physical condition, religion, marital status, age, family situation or pregnancy.

3.1.17To agree to protect and preserve the environment, as well as to prevent and eradicate practices that are harmful to the environment, and perform its services in compliance with the legislation in force concerning the Brazilian Environmental Preservation and Anti-Crime Policy, as well as all legal, normative and administrative acts associated to the environment, within Federal, State and Local spheres.
			
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    CT:02900/19
3.1.18 To notify the CLIENTS about any questions, omissions or discrepancies that may be found in the technical documentation provided for the performance of the Services.

3.1.19 Not to use the name, brand, logo and/or brand logo of the CLIENTS in advertising materials of any nature, except upon prior written authorization from the CLIENTS.

3.1.20Upon formal request from the CLIENTS, to return all documents, procedures, notifications, products, equipment, parts and pieces owned by the CLIENTS that are under the SERVICE PROVIDER’s care, within forty-eight (48) hours from the request.

3.1.21 The SERVICE PROVIDER undertakes to follow the rules and norms of security used by the CLIENTS in its facilities. It is hereby agreed that the SERVICE PROVIDER’s Employees, when accessing the CLIENTS’ facilities, shall adopt the internal functional identification, which may include, but is not limited to, bearing an identification badge, and the SERVICE PROVIDER shall be liable for any damages and/or accidents that its Employees may cause and/or suffer due to the non-compliance with such rules.

3.1.22 The SERVICE PROVIDER ensures that its product/solution does not have any active or passive mechanism allowing the attainment, reproduction, storage, view or any other type of access to any data or records in it, whether by the SERVICE PROVIDER or third parties, without prior and express consent from the CLIENTS. Passive means any form of access granted to third parties without the consent from the CLIENTS, in order to such third parties request data. Active means any form of data submission, whose decision comes from the solution itself, but without consent from the CLIENTS.

3.1.23 The SERVICE PROVIDER must answer to and be liable for any and all materials delivered to it by the CLIENTS, using it in a proper and diligent form, and the SERVICE PROVIDER shall indemnify for all and any damage that the SERVICE PROVIDER and its Employees may cause to real and personal property, machinery, equipment, devices and installations in general, owned by third party or the CLIENTS.

3.1.24 The SERVICE PROVIDER shall watch over the equipment provided by the CLIENTS as if it were its own, always notifying the CLIENTS whenever any incidents related to the equipment occur, such as, but not limited to, losses, damages, robbery, or theft.

3.1.24.1In case of damages or partial destruction of the equipment by the SERVICE PROVIDER or its Employees, the SERVICE PROVIDER shall fully bear all costs and expenses concerning the equipment repair and fixing.

3.1.24.2In the event of total destruction, loss, robbery, or theft of the equipment, the SERVICE PROVIDER shall pay its full value to the CLIENTS.

3.1.25 The SERVICE PROVIDER represents that its Employees are fully aware of the proper way to use and work the equipment provided by the CLIENTS, as well as how it shall be used according to its technical specifications, in order to ensure the maximum useful life indicated by the manufacturer.

3.1.26 The SERVICE PROVIDER represents that it will not install nor allow its Employees to install softwares, applications, or any other types of computer programs that in any way may interfere with the proper operation of the equipment (such as virus, malware, spyware, and Trojan Horses) or that hinder third-party intellectual property rights, including, but not limited to, software without the due license or modified without the consent from its owner.

3.1.27 The SERVICE PROVIDER undertakes to reimburse the CLIENTS if it causes any damages due to the conducts described herein, which includes, but is not limited to, the undue use of the equipment provided by the CLIENTS and breach of third-party intellectual property rights.

3.1.28 The SERVICE PROVIDER shall purchase and keep, throughout the entire contractual effectiveness, all insurances required to protect the people and its employees.
			
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    CT:02900/19
3.1.29 The SERVICE PROVIDER shall immediately notify the CLIENTS about the lack of any essential element required for the performance of the work, so that it can be duly remedied, to prevent whenever possible the interruption of the service and subsequent delay in its completion and delivery.

4.OBLIGATIONS OF THE CLIENTS

4.1To perform all payments due to SERVICE PROVIDER strictly within the terms agreed herein and/or in its Proposal(s).

4.2To notify the SERVICE PROVIDER in writing about any issues that may occur with the Employees allocated for the performance of the Services.

4.3To provide the SERVICE PROVIDER with the infrastructure, information, data, and materials required to perform the Services, which may be provided in the facilities of the the SERVICE PROVIDER, the CLIENTS or any other place defined by the CLIENTS.

4.4It is hereby not established any joint and several liability between the CLIENTS, who shall be individually liable for its own contracts.

5.EFFECTIVENESS

5.1This Agreement is effective as of the date of its execution through the period of [*****] months, which can be automatically extended for the same and successive periods, provided that neither Party presents prior and express notice about its intent to terminate the Agreement at least [*****] days before its renewal.

6.PRICE AND PAYMENT CONDITIONS

6.1The CLIENTS shall pay to the SERVICE PROVIDER the amounts provided in the Proposal(s) attached hereto, upon monthly submission of the relevant Invoice, for the execution of the Services subject matter hereof, and all taxes, fees, or any type of contributions, whether direct or indirect, levied on the services provided pursuant to this Agreement are already included in the amounts specified in this section.

6.2The payments provided shall be made upon the receipt, by the CLIENTS, of the invoice submitted by the SERVICE PROVIDER, within [*****] days from the date of receipt.

6.3No other payment shall be due to the SERVICE PROVIDER, which includes, but is not limited to, expenses with travel, accommodation, or any other expenses concerning the Service purchased, except if previously and expressly authorized by the CLIENTS, and the reimbursable amounts are limited by the CLIENTS’ internal policies, which shall be timely informed to the SERVICE PROVIDER. The billing shall be carried out in the same way described herein.

6.4All payments shall be made upon the issuance of Invoice by the SERVICE PROVIDER. The SERVICE PROVIDER shall include the following information in the Invoices/Bills:

UOL:
Name:    UNIVERSO ONLINE S/A
CNPJ:    01.109.184/0004-38
Address:        Av. Brigadeiro Faria Lima, 1384, 8o ao 11o andar, 
Jd. Paulistano – São Paulo/SP – CEP: 01451.-001

PAGSEGURO:
Name:    PAGSEGURO INTERNET S.A
CNPJ:    08.561.701/0001-01
Address:        Avenida Brigadeiro Faria Lima, no 1384, 4o andar – Parte A 
 Jd. Paulistano – São Paulo/SP – CEP: 01451.-001

6.4.1The failure of the SERVICE PROVIDER to issue one or more Invoices, or if information mentioned is not included therein, payment by the CLIENTS may be suspended until the SERVICE PROVIDER issues the Invoice or rectifies it, as the case may be, and immediately submits it to the CLIENTS.
			
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6.4.2The failure of the CLIENTS to perform payments in the agreed form and within the agreed terms shall result in the application of a fine equivalent to [*****]% per month and a late charge of [*****]% of the amount due.

6.5The CLIENTS shall pay for the Services whose performance is duly documented by the SERVICE PROVIDER, pursuant to the terms and conditions agreed herein. Any Services that were completed, but not duly reported, will have their payment pending until they are actually proven by the SERVICE PROVIDER.

6.6The CLIENTS may deduct from the Invoices all fines and any compensation arising from this Agreement and/or its Proposal, including with respect to materials that have been lost or damaged by the SERVICE PROVIDER.

6.6.1If the amounts payable, pursuant to the preceding item, are higher than the amount informed in the Invoice, the SERVICE PROVIDER shall be responsible for the difference, which may be deducted from future payments, including payments related to other credits that the SERVICE PROVIDER has with CLIENTS.

6.7Whenever requested by the CLIENTS, the SERVICE PROVIDER shall submit the following authenticated documentation:

a)Certificate of Good Standing on Federal Taxes and Contributions;  [*****]

b)Certificate of Good Standing on State Taxes;  [*****]

c)Certificate of Good Standing on Real Estate Debt;  [*****]

d)Social Security Payment form (GPS); [*****]

e)Guarantee Fund for Length of Service Payment form,  [*****]

6.7.1In the event any debt from the SERVICE PROVIDER is identified, at any time, as a result of non-payment of taxes, fees, contributions or charges, directly or indirectly levied on the Services hired herein and/or related to delay or default in providing payment receipts that prove the discharge of all social security and labor obligations related to its Employees and, as applicable, its subcontractors’ employees, even if partially, payment of the applicable Invoice/Bill will be withheld until the default is remedied and the receipts are duly submitted, without any interest, adjustment for inflation or any other type of adjustments, fines and/or compensation.

7.TAXES

7.1The prices agreed herein and in the Proposal include all taxes, fees and charges levied, whether directly or indirectly, on the Services hired herein, as well as all labor, civil and social security obligations in force and payable at the price base date.

7.2If there is any change to the tax legislation in force that may result in the creation of new taxes, increase in the calculation basis and/or tax rate, or that, in any way, may result in the increase of financial encumbrances hereof, the Parties shall negotiate, in good faith, changes in the prices set forth herein, provided that, under no circumstance, automatic onlendings and one-sided increase in prices shall be admitted. If the Parties cannot reach an agreement with respect to the new prices to be applied, this Agreement shall be promptly and lawfully terminated, without encumbrances or penalties.

8.VIOLATION

8.1In the event of default of the obligations assumed herein, the aggrieved Party shall notify the defaulting party about the delay, so that the defaulting party may perform its obligation within [*****] days from the receipt of the notice.

8.2The CLIENTS, without prejudice to the option of terminating this Agreement, may require indemnification from the SERVICE PROVIDER in the amount equivalent to the damage caused.
			
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9.TERMINATION / RESCISSION

9.1This Agreement may be terminated by any of the Parties, at any time, upon written notice to the other Party, at least  [*****] days before, free of encumbrances, fines, or penalties.

9.2The CLIENTS shall pay to the SERVICE PROVIDER the prorated amount of the Services provided until the date of termination.

9.3Any Party may terminate this Agreement at any time, regardless of judicial or extrajudicial notice, not being required to pay indemnification in the following events:

a)Insolvency, bankruptcy, financial restructuring, or similar procedure, which may jeopardize the performance of the obligations undertaken herein.

b)Occurrence of Act of God or Force Majeure interrupting the performance of this Agreement for a period longer than [*****] days.

9.4Any Party may also lawfully terminate this Agreement at any time upon simple written notice, without prejudice to the losses and damages that it may have suffered, in the following events:

a)default or the full or partial non-compliance with any of the clauses in this Agreement, in case it is not remedied within the period set forth in section 8.1 above;

b)negligence, recklessness, unskillfulness, or unwillingness by the SERVICE PROVIDER, on its own account or on the account of Employees allocated in the provision of the Services subject matter hereof; and

c)Non-compliance by the SERVICE PROVIDER with the recommendation in data provided by the CLIENTS for the provision of Services.

9.5Upon termination hereof, the CLIENTS may promptly assign the completion of the Services herein hired to whoever is convenient, at its sole discretion and not being required to consult with the SERVICE PROVIDER, which includes, but is not limited to, third parties who are direct competitors of the SERVICE PROVIDER.

9.6In the event of termination, all the material held by the SERVICE PROVIDER must be returned to the CLIENTS.

9.7In any event of contractual termination, the Services prepared or that were under preparation by the SERVICE PROVIDER shall be passed on to the ownership of the CLIENTS until the termination date.

9.8The termination of any Proposal shall not result in the automatic termination of this Agreement or any other Proposals in progress. However, the termination of this Agreement shall result in the termination of all Proposals in progress, subject to the right of the SERVICE PROVIDER of receiving payment due for the Services provided, and subject to the right of the CLIENTS of having the Services set forth in the ongoing Proposal completed, if it is their intention.

9.9It is hereby agreed that the SERVICE PROVIDER shall expressly waive the rights to withhold documents owned by the CLIENTS as from the termination notice, even if the CLIENTS considers the reason for termination insufficient.

10.CONFIDENTIAL INFORMATION

10.1The SERVICE PROVIDER and its technical team undertake to keep absolute confidentiality over any transactions, data, technical specifications, innovations, documents and information of the CLIENTS, that they may become aware of, have access to or be entrusted with due to this Agreement, also including and all information orally provided (“Confidential Information”). 
			
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Likewise, the SERVICE PROVIDER undertakes to, under any circumstance, not disclose, reveal, reproduce, use, or inform third parties who are not parties to this agreement.

10.2If the SERVICE PROVIDER is legally obliged to disclose the CLIENTS’ Confidential Information by law or court order, the SERVICE PROVIDER shall promptly notify in writing the CLIENTS, in a way to allow the CLIENTS to timely file for, if it deems necessary, applicable remedy in order to prevent the disclosure of such Confidential Information. In case the disclosure of Confidential Information is needed, the SERVICE PROVIDER shall disclose only the part of the Confidential Information that may be legally required and shall employ its best efforts to grant confidential treatment to any Confidential Information disclosed.

10.3The SERVICE PROVIDER undertakes to immediately return to CLIENTS all and any material that includes Confidential Information, as soon as the provision of the Services subject matter of this Agreement and its Proposal is completed or upon written request from the CLIENTS.

10.4The confidentiality obligation of the SERVICE PROVIDER provided in this Agreement and its Proposal, shall survive the termination of this Agreement and the end of the provision of Services for the period of [*****] years after the termination date.

10.5The SERVICE PROVIDER undertakes to instruct its Employees in regard to these provisions, which shall be complied even upon the end or termination hereof.

10.6The SERVICE PROVIDER hereby undertakes not to use, withhold or copy the Confidential Information that was provided to it in order to create any file, list or data base of its private or third-party use, except upon express and written authorization from the other Party.

10.7The confidentiality obligations provided above do not apply to:

(i) Information publicly known at the moment it was disclosed to the SERVICE PROVIDER, or information that becomes known without any action by the SERVICE PROVIDER, its officers, shareholders or quotaholders; and

(ii) information already owned by the SERVICE PROVIDER, its officers, shareholders or quotaholders when disclosed to them, provided that such ownership is promptly informed to the CLIENTS, with due documentation.

11.INTELLECTUAL PROPERTY

11.1.The computer programs mentioned in Section 1 above, under the ownership and/or possession of the CLIENTS, to which the SERVICE PROVIDER shall provide services may suffer changes and adjustments resulted from the provision of the services subject matter hereof.  Any change to the computer programs owned by the CLIENTS resulting in improvements shall remain with the CLIENTS.

11.2.The Technology Risk and Intellectual Property is under the domain of the CLIENTS, and the SERVICE PROVIDER takes part in technical support to the CLIENTS in projects and/or activities related to technological research and development of technological innovation of products, processes and services, including improvements and increments.

11.2.1.Any ownership and exploration rights present or future arising from the services provided hereunder are hereby assigned and transferred to the CLIENTS by the SERVICE PROVIDER, on an exclusive, final, irrevocable and irreversible basis, and the CLIENTS may, within the term provided in Article 49, II of Law No. 9,610, of 02/19/98, regardless of any manifestation, consent or notice submitted to the SERVICE PROVIDER, regardless of the payment of any other amount, increase or additional sum to the price established below, freely use, enjoy or dispose of (including license or assign) said rights.
			
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11.3.The CLIENTS shall hold the full right to economically explore or use the results of the services provided by the SERVICE PROVIDER, on any account, without any geographical, time or quantitative limitation.

11.4.It is hereby agreed between the Parties that the SERVICE PROVIDER, as well as any of its partners, managers, employees, and/or agents shall not, whether directly or indirectly, throughout the effectiveness of this agreement and any extensions, except upon prior written authorization from the CLIENTS, on any account and at any time, perform similar activity to the one provided in this instrument, provide any material or any other product similar to the purpose of this instrument, regardless if they were signed or not, for any broadcasting/disclosure for companies competing with the CLIENTS. The SERVICE PROVIDER grants the CLIENTS with full and absolute exclusivity on the materials subject matter of this Agreement, as well as on any other material created for the CLIENTS and any other means of electronic disclosure, whether they were specified in this Agreement or not, which currently exist or which may be created in the future, therefore, the CLIENTS are prohibited from selling and/or providing them.

11.5.It is expressly established between the Parties that if the CLIENTS find bugs or errors in the computer programs developed by the SERVICE PROVIDER, such fixtures shall be performed by the SERVICE PROVIDER, and the CLIENTS shall not bear any additional cost.

12.LABOR LIABILITY

12.1The Parties agree that, as the SERVICE PROVIDER is exclusively responsible for providing the services, it shall be fully held liable for all labor and social security charges, taxes, insurances, indemnification and all other expenditures resulted from the employment bond the SERVICE PROVIDER has with its employees and other contractors and subcontractors providing services to the CLIENTS, since they are exclusively payable by the SERVICE PROVIDER, and the CLIENTS shall not be held liable for such charges, not even subsidiarily or jointly.

12.2It is hereby established that if the CLIENTS or any of its clients become a  defendant in any lawsuit or administrative proceeding, including, but not limited to, labor, social security and tax proceeding, for reasons attributable to the SERVICE PROVIDER either or not related to the subject matter and/or obligations herein, but as a result from this Agreement, the SERVICE PROVIDER shall:

i)Provide support and documents for the preparation of the CLIENTS’ defense, at least [*****] days before the end of the established deadline;
ii)Enter the suit as co-defendant and have the CLIENTS removed from the suit, using all defense arguments and applicable resources;
iii)If the SERVICE PROVIDER is not party to the proceeding, upon request from the CLIENTS, appear at the hearings and any other events, without creating any obstacles, in order to request its inclusion as defendant in the lawsuit/administrative proceeding.
iv)If the CLIENTS and/or its Clients are not removed from the claim, the CLIENTS shall withhold an amount equivalent to [*****]% of the monthly payment for as long as they remain in the claim, in order to receive reimbursement for all expenses concerning attorneys’ fees, expenses, losses and/or any judgment.

12.3The SERVICE PROVIDER hereby authorizes the CLIENTS to enter into, at any time, any settlements so that the CLIENTS are removed from any labor or social security claim, provided that: (i) such settlements are limited to the individual amount of [*****] per settlement; and
(ii) the third-party claim results from breach of contractual obligations by the SERVICE PROVIDER or in the event of default by the SERVICE PROVIDER.

12.3.1.The amount referred in section 12.3. shall be adjusted on an annual basis, as from the execution date hereof according to the IGP-M variation.

12.3.2.Any amounts disbursed by the CLIENTS according to the settlements referred to in this clause 12.3 are hereby acknowledged by the SERVICE PROVIDER as net, certain and payable for all legal purposes, and, therefore, subject to financial compensation as provided in the Agreement.
			
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12.4In the event judgment is entered against the CLIENTS or settlement involving them, concerning the service subject matter hereof, even if only partially or by lower court, and even if pending trial of appeal, the SERVICE PROVIDER undertakes, in the event it did not exercise the option provided in the previous item or exceeding the amount that was previously withheld, to reimburse the CLIENTS for the total amount that was disbursed, within seventy-two (72) hours, as from the receipt of notification by mail indicating the amount due, including the principal and all ancillary installments or resulted from attorneys’ fees, fines, court costs and expenses.

12.5If the above-mentioned reimbursements are not paid, the SERVICE PROVIDER expressly authorizes the CLIENTS to discount the amount of the judgment, in advance, from the payments due for the services provided. The total amount required for the compliance with the settlement or the judgment, or also for the appeal bond may be deducted, regardless of new authorization from the SERVICE PROVIDER or any other formality, being sufficed notification to the SERVICE PROVIDER.

12.6If the withheld amount does not reach the amount of the judgment, the CLIENTS will have the option to seek court enforcement of the debit, pursuant to Articles 585, II et. seq. of the Brazilian Civil Procedural Code, and the proof of amounts due shall be made through payment receipts of the expenditures.

12.7The SERVICE PROVIDER shall be held fully liable for the acts and omissions performed by its partners, managers, representatives, advisors, employees, contractors or subcontractors, and any other agents to which the SERVICE PROVIDER is associated and involved in the provision of the Services, causing losses to the CLIENTS or third parties.

12.8Without prejudice to applicable legal measures other than the ones provided herein, the SERVICE PROVIDER shall bear, on an exclusive basis, the consequences from:

(i)negligence, unskillfulness, recklessness, unlawful acts, theft, robbery, loss, damage to materials or equipment by the employees involved in the provision of the Services; and
(ii)any type of accidents with the employees or third parties involved in the provision of the Services.

12.9The SERVICE PROVIDER shall also assume the sole liability for the payment of expenses arising from the above-mentioned events, including all direct and indirect damages to property, pain and suffering, and pecuniary losses.

12.10The SERVICE PROVIDER shall be civilly and criminally liable before third parties for any damages and losses and loss of profits, caused by unskillfulness, negligence or recklessness of its employees and/or subcontractors.

13.BENEFITS TO CLIENT’S EMPLOYEES

13.1The SERVICE PROVIDER represents to be aware of the CLIENTS’ internal policy establishing that:

a) Displays of cordiality are allowed among the CLIENTS’ employees and their clients, vendors and partners, such as exchange of low-cost promotional gifts for Christmas, for example;

b) if the clients, vendors and partners have the intent of offering material gifts to employees of the CLIENTS, whether in the form of services or goods (including trips and courses, even if they involve training concerning the purpose of the agreement), such intent must be previously notified to the Human Resources Officer, through the e-mail address [*****], who shall decide on the suitability of the acceptance (or not) of the offer by the employee. Failure to comply with this clause may result in termination of this Agreement, by the CLIENTS, without any penalties due.

14.INFORMATION AND DATA PROTECTION

13.2    Information provided by the CLIENTS for the performance of this Agreement – which may include, without limitation, customer or third-party information – may only be stored by the SERVICE PROVIDER in encrypted form, pursuant to applicable legislation.
			
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Data made available to the SERVICE PROVIDER is solely and exclusively aimed at the provision of services subject matter of this Agreement, and the SERVICE PROVIDER, may not, under any circumstance, change such purpose without the express and written instruction from the CLIENTS, subject to liability for damages and indemnification.

13.1.1    The SERVICE PROVIDER shall promptly notify the CLIENTS in writing in the event of any (i) violation to information security procedures; (ii) unauthorized access or change, disclosure or use of data provided by the CLIENTS. Such notice shall include measures taken or established by the SERVICE PROVIDER to remedy the situation. If a security breach is verified, the SERVICE PROVIDER must immediately track and/or retrace the steps up to the breach and remedy it.

13.3The SERVICE PROVIDER acknowledges that the unauthorized disclosure of data provided by the CLIENTS may result in irreparable damages and that, in the event of violation or threat of violation of any such obligations, the SERVICE PROVIDER shall be liable for the damages and indemnification of any type – caused to the CLIENTS and/or third parties – arising from the use of such data in noncompliance with the terms provided herein.

13.4The SERVICE PROVIDER represents to acknowledge and agree with the CLIENTS’ Privacy Policy, which is available at: https://sobreuol.noticias.uol.com.br/normas-de-seguranca-e- privacidade.html.

13.5The SERVICE PROVIDER represents and warrants that: (a) it has technical and financial skills and proper infrastructure and personnel to provide the Services, pursuant to this Agreement and applicable law; (b) it is fully aware of laws and regulations, especially the ones related to data and privacy, applicable to the activities provided herein, as well as all licenses, authorizations, permits and records needed in order to perform the purpose hereof; and (c) it undertakes to strictly comply with all regulations related to privacy and data protection or other applicable regulations (including with respect to making representations and obtaining the necessary authorizations), provided that the CLIENTS will be assured of the ownership of such privacy and data and fully compensated for all damages arising from all and any breach of such laws and regulations.

14.GENERAL PROVISIONS

14.1Each Party represents to have the power and authority to execute, deliver and comply with this Agreement, provided that such acts do not breach, conflict, revoke or constitute negligence of its bylaws or corporate acts, as well as any contract or arrangement to which they are Parties or by which they are bound. No agent, employee or representative of the Parties has any authority to bind the other Party in any notice, representation, understanding, agreement or guarantee, unless otherwise expressly set forth herein.

14.2The SERVICE PROVIDER may not assign or transfer the rights and obligations provided in this Agreement and/or the Proposal without the prior and express consent from the CLIENTS.

14.3If any provision herein is considered null, void, or unenforceable under applicable laws, such provision shall become ineffective only to the extent of the nullity, unlawfulness or unenforceability of such provision, and it shall not affect any other provisions included herein.

14.4The Parties agree that no change to this Agreement and/or the Proposal, or the failure to exercise the rights provided herein by either Party, shall result in novation of any obligation or provision herein, except as otherwise agreed by the Parties.

14.5The Parties undertake, on their own account and on account of their officers, board members, employees and/or representatives, to comply with the Brazilian law and strictly not to perform any act, directly or indirectly, that may be construed as corruption or harmful to the Brazilian or a foreign government, pursuant to article 5 of Brazilian Federal Law No. 12.846/2013, such as offering and/or making undue payments, rewards, gifts or any direct or indirect advantage to public servants, State employees under any sphere, political parties and their employees, as well as foreign government’s agents or employees. The violation of any Anti-corruption Law by the SERVICE PROVIDER shall be considered a critical breach and entitles the CLIENTS to immediately terminate this Agreement. 
			
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Without prejudice to the immediate termination of this Agreement, any breach of Anti-corruption Laws that the CLIENTS become aware about shall entitle the CLIENTS to interrupt and withhold all and any payments related hereto as compensation for any losses suffered.

14.5.1 The CLIENTS shall not be liable for any actions and/or omissions of any type, losses and damages, loss of profits resulted from or related to the violation of any anti-corruption laws by the SERVICE PROVIDER, including its officers, directors, workers, representatives or Employees. The SERVICE PROVIDER shall indemnify and hold the CLIENTS and/or their officers, directors, employees and/or representatives harmless from any loss, claim, fine, cost or expense incurred by the CLIENTS arising from any breach provided in this section. Without prejudice to the applicable legal measures, the SERVICE PROVIDER acknowledges and agrees that the CLIENTS shall provide all relevant data and information when requested by the competent authorities, in the event any procedure is filed with the purpose of assessing violations of anti-corruption laws applicable to this Agreement.

14.6The SERVICE PROVIDER represents, on its behalf and on behalf of its Representatives, as defined below, that it acts in compliance with all laws, regulations, guidelines, policies and any other provisions related to fighting and preventing corruption and money laundering, including, but not limited to: (i) applicable Brazilian law, (ii) the Foreign Corrupt Practices Act (“FCPA”), (iii) international conventions and agreements to which Brazil is a party, and (iv) the CLIENTS’ handbooks and policies.

14.7.1.Representatives. For purposes of this Section, “Representatives” means all persons that comprise the economic groups of the Parties, shareholders, managers, officers, board members, partners, attorneys-in-fact, advisors, consultants, employees, agents, subcontractors or any other third parties directly or indirectly related to the SERVICE PROVIDER, as well as any person, whether individual or legal entity, including the ones exercising direct or indirect control over such legal entity, as well as its parent companies, subsidiaries, affiliates and companies under common control, pursuant to Law No. 6,404/1976.

14.7.2.The SERVICE PROVIDER represents to acknowledge all of the CLIENTS’ policies associated to fighting and preventing corruption and money laundering and that it has not performed nor will perform any acts or practices that directly or indirectly involve the offer, promise, bribery, extortion, authorization, solicitation, acceptance, payment, delivery or any other act related to undue pecuniary advantage or any other unlawful advantage violating the laws provided above or any other applicable law.

14.7.3.The SERVICE PROVIDER undertakes to inform and offer training sessions to all of its Representatives on the provisions set forth herein and regarding the practices to fight and prevent corruption and money laundering, in addition to implementing, if not yet implemented, policies, conducts and rules complying with the practices established herein.

14.7.4.The SERVICE PROVIDER undertakes to notify the CLIENTS if any of its Representatives has been or is a Governmental Authority, as defined below, as well as all family members or persons with a close relationship of its Representatives with a Governmental Authority.

14.7.5.Public Authority. For the purposes hereof, “Public Authority” means, without limitation, any person, agent, employee or contractor exercising activities in departments, institutions, associations, entities or bodies of the direct or indirect public administration, as well as any employee, family member, relative or personal close relationships.

14.7.6.The failure to comply with the provisions set forth herein by the SERVICE PROVIDER or its Representatives shall constitute a critical violation and may result in contractual termination by the CLIENTS, who may, at their sole discretion, automatically interrupt the performance of the obligations arising from this Agreement. The violation of this section by the SERVICE PROVIDER or its Representatives shall also result in the obligation to compensate the CLIENTS for any losses and damages caused.

14.7.7.The SERVICE PROVIDER agrees that the CLIENTS may, at their sole discretion, audit the SERVICE PROVIDER regarding any information and/or document, with the purpose of monitoring compliance with the provisions established in this Section. The Audit herein mentioned may be carried out by the CLIENTS or by a third party indicated and paid by the CLIENTS, and the SERVICE PROVIDER must, at all times, ensure wide and unrestricted access to all related documents.
			
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15.7.8. The SERVICE PROVIDER undertakes to immediately notify the CLIENTS in the event of any breach, suspicion of breach or any inconsistent situation that may arise against CLIENTS’ internal conducts and policies, as well as the Brazilian anti-corruption and anti-money laundering law, and international agreements and conventions governing such matter.

14.7The Parties, including their Witnesses, acknowledge that electronic, digital, and computerized signatures are valid and fully effective, constituting an extrajudicial enforcement instrument for all legal purposes, even if such signatures or certifications are not under ICP-Brazil standards, pursuant to the provisions in paragraphs of Article 10 of the Provisional Measure No. 2,200/2001 in force in Brazil. Therefore, this Agreement, as well as the Proposal, its exhibits and amendments may be executed through such means.

14.8The liability of the Parties in regard to indemnification for damages that may be caused resulting from this Agreement, shall always be limited to the Total Amount of this Agreement (sum of the amount of all Proposals bound by this Agreement).

14.8.1 It is hereby agreed that the limitation set forth in section 14.8 above shall not be applicable to damages caused by intentional or fraudulent acts, nor to damages resulted from (i) labor and social security claims related to the workforce used in the provision of the services subject matter hereof;
(ii) tax and fiscal proceedings; (iii) environmental lawsuit; (iv) third-party intellectual property claims; (v) violation of provisions concerning confidential information; (vi) violation of provisions concerning Anti-corruption norms.

15.VENUE

15.1This Agreement shall be governed by and construed pursuant to the Brazilian Laws. The Parties hereby elect the courts of the judicial district of São Paulo, State of São Paulo, to settle any disputes arising out hereof.

IN WITNESS WHEREOF, the Parties execute this Agreement in two (2) counterparts, same in form and content, for all legal purposes.

São Paulo, Thursday, November 7, 2019.

INVILLIA - DESENVOLVIMENTO DE PRODUTOS DIGITAIS LTDA.

															
	Witnesses:		
					
	1	
		2	

	Name:		Name:
	CPF:		CPF:

			
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