Document:

First Supplementary Agreement to the Cooperation Agreement

 Exhibit 4.6 
 FIRST SUPPLEMENTARY AGREEMENT TO THE COOPERATION 
 AGREEMENT 
 First Supplementary Agreement to the Cooperation Agreement (as defined further on) dated 27 February, 2009 (the “Agreement”) entered into Banco de
Chile (“Banco de Chile”) and Citigroup Inc. (“Citigroup”, and jointly with Banco de Chile, the “Parties”). The terms used in this Agreement and not defined herein shall have the meaning assigned to
them in the Cooperation Agreement. 
 BACKGROUND 
  

	 	I.	On December 26, 2007, Banco de Chile and Citibank Chile, an indirect subsidiary of Citigroup, executed a Merger Agreement with the purpose of merging the operations of both
Parties, resulting Banco de Chile as the legal successor of the businesses of Citibank Chile; and 

  

	 	II.	On December 27, 2007, the Parties executed a Cooperation Agreement (the “Cooperation Agreement”) with the purpose of, among others, regulating certain common
aspects of the direct relations that Banco de Chile and its subsidiaries, on one side, and Citigroup and its Subsidiaries, on the other side, will have, pursuant to certain contracts executed between the two Parties; and 

  

	 	III.	Pursuant to the terms of the Cooperation Agreement the Parties recognized, that the relation between the Parties shall change from time to time, and, consequently, amendments to the
terms and conditions of the contracts that establish the relations between the Parties shall be required; and 

  

	 	IV.	The Parties agreed that it is necessary to complement and clarify the contents of the Cooperation Agreement in order to better define the exchange of information between the
Parties; 

 Now, therefore and in consideration of the background and the terms and conditions established in this Agreement and for
other good and valuable consideration considered by both Parties, the reception of which both Parties hereby confirm, and with the intention that both Parties shall be legally bound to the agreements established herein, the Parties agree as follows:

 CLAUSES 
 First. Exchange of
Information for Incentives. Clause Fifth of the Cooperation Agreement is amended and restated in its entirety as follows: 
 Fifth. Exchange of
Information 
 “In order to comply with and adequately implement the agreements and stipulations contemplated in the respective Operative
Agreements, and subject to the obligations of confidentiality contained therein, as well as relevant legal, regulatory or internal policies provisions, especially those related to bank secrecy and confidentiality, the Parties agree to use their best
efforts to exchange all information necessary to comply with the above-mentioned purpose. 
 Particularly, and with the purpose of encouraging Account
Executives of Banco de Chile to maximise the relations with its clients through an integral offer of products which includes both local products in Chile as well as global products offered by Citigroup abroad and, in turn, with the aim of
encouraging Global Account Executives of Citigroup (Parent Account Mangers or PAMS) to promote the business with their Global Clients through their subsidiaries in Chile, the parties hereby agree to exchange information about margins obtained in the
business relations with these clients. 
 Citigroup shall provide Banco de Chile, with the periodicity agreed by the Parties, with the necessary information
relating the Chilean clients having a relationship with Citigroup abroad under the Partnership, in order to permit the Parties to understand the net incomes of the cost of funds and commissions (as well as other financial information, related to the
quality of services and products) that have been recognized in the books of Citigroup in order to comply with the Operative Agreements. 
 Banco de Chile
shall provide Citigroup, with a frequency agreed by the Parties, with the necessary information relating the Chilean clients having a relationship with Banco de Chile and the agreements within the Association framework, in order to permit the
Parties to understand the net incomes of the cost of funds and commissions (as well as other financial information, related to the quality of services and products) that have been recognized in the books of Banco de Chile in order to comply with the
Operative Agreements. 
 The Citigroup Regional Compliance Officer for Latin America and Mexico and Banco de Chile Compliance Officer shall establish a
formal process for the flow of information between the Parties, in relation to the regulatory and institutional changes in the US and Chilean environment with an impact on the business of Banco de Chile or on the investment of Citi in Banco de
Chile, under the condition that there is no regulatory restriction to share said information. The referred to formal process of the flow of information may include periodic conference calls, dispatch of Monthly/Dashboard compliance reports, dispatch
of 

 
reports related to said regulatory changes presented to the Board of Directors and Banco de Chile Audit process, to mention a few. This clause does not
substitute or replace any other agreement or reporting or communication process between the Compliance Officers of the Parties; any contradiction between what has been established herein and any other agreement or reporting or communication process
between the afore mentioned Officers, shall be solved by mutual agreement between the parties.” 
 Second. Confirmation and Ratification.
(a) In, and on a date subsequent to the date of the execution of this Agreement, each reference in the Cooperation Agreement to the “Agreement”, “in this Agreement”, “as established herein” or words with a similar
meaning referring to the Cooperation Agreement, shall refer to the Cooperation Agreement, as modified and supplemented by this Agreement. 
 (b) The Parties agree that the Cooperation Agreement, as modified by this Agreement, shall remain fully effective and valid without any other obligation or modification apart from those contained in this Agreement. The Parties confirm and
ratify all the terms of the provisions of the Cooperation Agreement that are not specifically modified by this Agreement. 
 Third. Copies.
This Agreement may be signed in any number of copies, each of which shall be deemed an original, and shall have the same effect as if the signatures contained therein were within the same document, but jointly all and each one of said copies shall
be considered one and the same document. This Agreement shall become valid once each signed copy thereof is received by fax. 
 Fourth. Applicable laws
and Jurisdiction. This Agreement shall be governed pursuant to the laws of Chile. Any dispute arising between the Parties in relation to this Agreement shall be solved once and for all pursuant to the Rules of Arbitration of the ICC by three
arbitrators named according to said Rules. The seat of arbitration shall be the city of Paris and all the procedures shall be substantiated in Spanish. Each Party undertakes to pay an equi-proportional part of the administrative costs and of the
advance payments of the ICC costs, unless the arbitrators shall find otherwise in their final award. The arbitrators may impose in said Award a payment of attorneys’ fees and other costs in favour of the party which has won the arbitration, as
they deem appropriate. Either of the Parties hereto shall have the right to resort to a Pre-Arbitral Referee procedure of the ICC pursuant to the Rules of said organisation and shall be bound by such procedure. 

 IN WITNESS WHEREOF, the Parties hereto subscribe this Agreement through their duly authorised representatives on
the date indicated in the introduction hereto. 
  

			
	BANCO DE CHILE
		
	Signature	 	Illegible
	Name:	 	Fernando Cañas Berkowitz
	Title:	 	General Manager

  

			
	Citigroup Inc.
		
	Signature	 	Illegible
	Name:	 	Fernando Cañas Berkowitz
	Title:	 	General Manager
		
	Signature	 	Illegible
	Name:	 	Manuel Medina Mora March 12, 2009
	Title:	 	President and Chief Executive Officer – Latin America
		
	Signature	 	Illegible
	Name:	 	Fernando Quiroz Robles March 12, 2009
	Title:	 	Chief Executive Officer of the Group of Institutional Clients – Latin AmericaFirst Supplementary Agreement to the Global Connectivity Agreement

 Exhibit 4.7 
 FIRST SUPPLEMENTARY AGREEMENT 
 TO THE GLOBAL CONNECTIVITY AGREEMENT 
 First Supplementary Agreement to the Global Connectivity Agreement (as defined hereinafter) dated February 27, 2009 (hereinafter the
“Agreement”], executed by and between Banco de Chile (hereinafter “Banco de Chile”) and Citigroup, Inc. (hereinafter “Citigroup” and, together with Banco de Chile, the “Parties”).
Any terms used in this Agreement but not defined herein shall have the same meaning that those terms have in the Connectivity Agreement. 
 PRECEDENTS 
 I.- On December 27, 2007, Banco de Chile and Citibank Chile, an indirect subsidiary of Citigroup, executed
a Merger Agreement with the purpose of merging the operations of both parties, with Banco de Chile to continue as successor to all Citibank Chile business. 
 II.- On that same date the Parties signed a Cooperation Agreement, (the “Cooperation Agreement”) and a Global Connectivity Agreement (the “Connectivity Agreement”) with the purpose,
among others, of establishing the relationship between the Parties with regard to the rendering of banking services inside Chile and abroad. 
 III.- Within the Cooperation Agreement the Parties acknowledged that the relationship between them would change throughout the course of time, which would therefore require that changes be made to the terms of the contract and conditions
that establish the relationship between the Parties, including the Connectivity Agreement; and 
 IV.- The Parties agreed that it is
necessary to complement, clarify, and modify contents of the Connectivity Agreement to better define and govern the relationship between the Parties regarding the rendering of banking services inside Chile and abroad. 
 BY VIRTUE OF THE FOREGOING, and considering the precedents and terms and conditions established in this Agreement and for other valuable
considerations received by both Parties, the receipt of which is hereby acknowledged by the Parties, and with the intention of binding the Parties to the agreements defined herein as of the date of the Connectivity Agreement mentioned in number II
above, as long as these presents do not modify any distribution of income agreed to between the Parties prior to the date hereof regarding a specific transaction, the Parties agree on the following: 

 CLAUSES 
 One. Definitions; Interpretation. By virtue of this Agreement, letter (e) of Clause One of the Connectivity Agreement shall be modified to add the following schedules thereto: 
 “Schedule “D”: Interaction Principles for Cash Management Businesses. 
 “Schedule “E”: Ineraction Principles for Securities Management Businesses. 
 Two. Distribution of Cross-border Trade and Services Income Schedules B and B2 are completely eliminated from the Connectivity Agreement
and are replaced by Schedules B and B2 enclosed herewith, which will now be a part of the Connectivity Agreement. 
 Three. Private
Banking Business. (a) Schedule B-1 of the Connectivity Agreement is amended as to numbers (i) and (ii) applicable to the Citigroup Private Banking unit (“Citi Private Banking”), so that it be as follows: 

The following is proposed for Private Banking business: 
  

	 	“i.	Private Banking Business: For all Private Banking related business conducted by new Chilean clients, the agreed distribution shall be 50% of the net margin generated by these
new clients, initially assuming a 73% efficiency index. The Parties shall also negotiate in good faith to agree upon a referral fee that Banco de Chile shall pay Citigroup whenever Citi Private Banking clients are referred to Banco de Chile and
become clients of said bank. 

  

	 	ii.	Investment Banking Business. Regarding corporate and investment banking referrals, Citi Private Banking and the Investment Banking Division of Banco de Chile shall continue
to work together and, in the event of income sharing, they will abide by the agreements reached Connectivity Agreement. Any referral fee received by Citi Private Banking for any Cross-Border Trade or Services shall be deducted from the amounts
received by Citigroup under Connectivity Agreement, and in any event shall always have a maximum ceiling for Citi Private Banking of 20% of the total fee and a maximum amount initially set at USD 1 million. The final percentage of this referral fee
shall be determined by the Investment Banking Division of Banco de Chile. 

 (b) Reference made to Schedule B-3 of the
Connectivity Agreement is eliminated. 
 (c) Schedule “C” of the Connectivity Agreement is amended, eliminating the following from
letter a) in said schedule: “The Private Banking Unit shall also be created (“Private Banking BCH”)”; likewise, the last paragraph of letter b) of said schedule is eliminated, thereby eliminating all references to “Private
Banking Unit”, “Private Banking BCH”, “Private Banking Unit “BCH” and “Private Banking”. 

 (d) Section 4 of Clause Three of the Connectivity Agreement is hereby amended, adding letters (l),
(m), and (n), which shall read as follows: 
 “(l) Each Party shall respectively appoint a valid negotiator to interact between Banco de
Chile and Citi Private Banking, who will agree on a coordinated system to prevent Banco de Chile from offering offshore products and services to clients who have an active relationship (in the last six months) with Citi Private Banking. 

(m) The sales force of Citi Private Banking shall be instructed to avoid prospecting new clients in Chile, save as established in (n). 
 (n) Private Banking products and services shall be offered to new clients in Chile only through and jointly with the person from Banco de Chile named in
(l). There shall be no prospecting of any clients who have an active relationship with Banco de Chile, which shall be confirmed by the person from Banco de Chile appointed in (l) regarding each prospect proposed by Citi Private Banking.

 Four. United States Dollars Clearing Services. (d) Section 2, letter (c), of Clause Three of the Connectivity
Agreement is hereby amended and shall read as follows: 
 “(c) Citigroup shall have preference over other providers of correspondent
banking services in terms of the market, including international payments, U.S. currency clearing services, and intermediary services, to Banco de Chile and its affiliates. This preference, besides being contingent upon the quality of service,
prices, and market conditions in general, shall also be subject to Banco de Chile’s customary business flow with its correspondent banking network, allowing it to access the lines of financing from abroad, bearing in mind the minimum strategic
need for diversifying said sources of financing. 
 Five. Investments in Chilean stock. Section 2, letter (a), of Clause
Three of the Connectivity Agreement is hereby amended, is amended by adding the following at the end of said letter: 
 “In addition,
Citigroup shall make every reasonable effort to have any investments made by Citigroup, be it on behalf of or property of third parties, in stock traded in any stock market in Chile, be made through Banchile, subject to the following conditions:
(i) that 

 
there are no legal or regulatory obstacles or rules affecting brokerage firms that bar Banchile from acting as a stock broker for Citigroup or the relevant
client; (ii) that a Citigroup client may select a different stock broker to conduct his/her business; (iii) that the rates charged for these services be “arm’s length” market prices; and (iv) that the level of service
be outstanding as compared to the best entities in the industry in Chile. 
 Six. Regulatory Representations. Notwithstanding
the statements made hereinafter, regarding the guarantees required by the laws and regulations, the Parties shall agree on and negotiate in good faith the terms and conditions to finance the costs of constituting same [guarantees]. The guarantees
required under Regulation 23 A/B of the United States or under Citigroup’s internal policy, shall be fully financed by Citigroup as long as the investment requiring said guarantee is made exclusively by Citigroup. Likewise, Banco de Chile shall
participate in the financing of said guarantee, as long as Banco de Chile participates in the aforesaid investment. In no event shall Banco de Chile finance guarantees required exclusively under a Citigroup internal policy. 
 Seven. GTS-related Changes. (d) Section 1, letter (d), of Clause Three of the Connectivity Agreement is hereby amended, by adding
after the word “including”: “..., but not limited to, Trade Services and Financing (Trade Services/Finance abroad),...”. 
 (b) Section 1, letter (e), of Clause Three of the Connectivity Agreement is hereby amended, is amended and shall read as follows: 
 “Banco de Chile shall guarantee that overdraft lines and other credit accessory facilities be provided to CMB Clients, with the understanding that if Banco de Chile were to deny such lines or facilities,
Citigroup may guarantee, always to the reasonable satisfaction of Banco de Chile, the credit obligations of said client with Banco de Chile, in which case Citigroup shall be entitled to receive 100% of the profits or losses accrued for providing the
respective product or service. Banco de Chile shall notify Citigroup of the reason for its refusal to offer such facilities to said client so that Citigroup may take that information into account in its decision to guarantee said obligations. In
such cases the parties must agree on a remuneration amount for using Banco de Chile capital. Notwithstanding the foregoing, and despite the granting of a satisfactory guarantee by Citigroup, in no event shall Banco de Chile be bound to provide
overdraft lines or facilities, or any other accessory credit facilities, to CMB Clients, if granting them were to infringe upon the internal policies of Banco de Chile (except for credit risk policies) or upon any legal or regulatory standards
applicable to Banco de Chile. 

 (d) Section 2, letter (e), of Clause Three of the Connectivity Agreement is hereby amended, is
amended and shall read as follows: 
 “Except as provided for in Section 1, letter (3) above, Banco de Chile may refuse to
offer a loan product to a CMB Client for its own reasons, with the understanding that Citigroup and Banco de Chile shall make every effort to agree on participating in said transaction, and Citigroup shall be entitled to offer said product to such
client by using the local Citigroup vehicle (or a Citigroup vehicle abroad) in the event that Citigroup and Banco de Chile are unable to reach an agreement regarding said terms within a specific period of time. Banco de Chile shall notify Citigroup
of the reason for its refusal to offer said prodcut to said client so that Citigroup may take that information into account in its decision to offer said product directly to said client.” 
 Eight. Confirmation and Ratification. (a) On or after the date of execution hereof, each reference made in the Connectivity Agreement
to the “Agreement”, “in this Agreement,” “as established herein,” or terms that mean the same and make reference to the Connectivity Agreement, shall refer to the Connectivity Agreement as amended and supplemented under
this Agreement. 
 (b) The Parties agree that the Connectivity Agreement, as amended hereby, shall remain in full force and effect with no
obligations or modifications other than those contained herein. The Parties confirm and ratify in all its terms the provisions of the Connectivity Agreement not otherwise expressly amended in this Agreement. 
 Nine. Copies. This Agreement may be signed in any number of copies, each of which shall be construed as an original, and shall have the
same force and effects as if the signatures contained therein were in one same instrument, but each and every one of those samples shall jointly comprise one sole instrument. This Agreement shall enter into effect once each copy thereof is received
by fax, having been signed by each party. 
 Ten. Applicable law. This Agreement shall be subject to the laws of New York. Any
dispute between the Parties arising from this Agreement shall be finally resolved in accordance with the Arbitration Regulation of the CCI by three arbiters appointed in accordance with said Regulation. The seat of the arbitration shall be the city
of Paris and all proceedings shall be conducted in Spanish. Each Party undertakes to pay an equivalent portion of the administrative expenses and the advances paid for any CCI costs, except if the arbiters were to rule differently in their final
award. In said award, the arbiters may impose the payment of attorneys’ fees and other legal costs in favor of the party prevailing in the arbitration, as they may deem pertinent. Any of the Parties hereto shall have the right to avail itself
of the Pre-arbitral Referee Procedure of the CCI in accordance with the Regulations thereof and shall be bound by said Proceeding. 

 IN WITNESS WHEREOF, the Parties hereto do sign this Agreement by way of their duly authorized representatives, on the
date indicated ut supra. 
  

			
	BANCO DE CHILE
		
	Signature:	 	 

			
	Name:	 	Fernando Cañas Berkowitz
	Title:	 	General Manager

  

			
	CITIGROUP INC.
		
	Signature:	 	 

			
	Name:	 	Manuel Medina Mora
	Title:	 	Chairman and Chief Executive Officer – Latin America

  

			
		
	Signature:	 	 

			
	Name:	 	Fernando Quiroz Robles
	Title:	 	Chief Executive Officer of the Group of Institutional Clients Latin America

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