Document:

Exhibit 4.4

 

Free translation 

 

DATA PROTECTION
AGREEMENT

 

This Data
Protection Agreement, dated as of December 17, 2020 (“Agreement”), is entered between:

 

(1)  
Companhia Brasileira de Distribuição, publicly held company
incorporated in Federative Republic of Brazil, with head office in the City of São Paulo, State of São Paulo, at
Avenida Brigadeiro Luiz Antônio, no 3142, Jardim Paulista, enrolled with CNPJ/ME under the No. 47.508.411/0001-56, herein
represented by its legal representatives under its Bylaws (“CBD”); and

 

(2)  
Sendas Distribuidora S.A., company for shares incorporated in Federative Republic
of Brazil, with head office in the City of Rio de Janeiro, State of Rio de Janeiro, at Avenida Ayrton Senna, no 0600, Jacarepaguá,
enrolled with CNPJ/ME under the No. 06.057.223/0001-71, herein represented by its legal representatives under its Bylaws (“Sendas”).

 

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

 

Whereas:

 

(A) The Parties entered into, on December 14, 2020, the Separation Agreement and Other Covenants (“Separation Agreement”)
to regulate the terms and conditions necessary for the business and assets separation of Sendas and CBD, within the scope of the
partial spin-off of CBD (“Spin-off”), so that Sendas ceases to be a company controlled by CBD, and the Parties
begin to operate independently (“Business Separation”);

 

(B)
As provided for in Section 5.2 of the Separation Agreement, the Parties currently share material and human resources, including
software and computerized systems, as well as the databases of suppliers, employees and service providers, and the Parties subsequently
have agreed, under Section 5.2.5 of the Separation Agreement, that all the aforementioned resources shall be segregated as soon
as possible and, in any case, within a maximum period of 1 (one) year (“Transition Period”) from the date the
Spin-off is approved by the special general meeting of CBD (“Effective Date of Spin-off”), with the final purpose
of personal data processing by each of the Parties, in an independent and separated manner;

 

(C)
The Parties are interested in regulating their respective personal data processing during the Transition Period to ensure the strict
compliance with all Brazilian provisions, laws and rules that regulate the rights to privacy and protection of Personal Data, including,
but not limited to, Law No. 13.709/2018 (“General Law of Personal Data Protection”, or “LGPD”),
Law No. 12.965, of April 23, 2014 (“Internet Civil Framework”), Law No. 8.078, of September 11, 1990 (“Code
of Consumer Protection”), Law No. 12.414, of June 9, 2011, as amended by Supplementary Law No. 166, of April 8, 2019
(“Positive Registry Law”), Law No. 12.527, of November 18, 2011 (“Access to Information Law”),
and Decree No. 8,771, of May 11, 2016 (“Regulatory Decree of Internet Civil Framework” and, together with the
other rules, the “Legislation”);

 

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NOW, THEREFORE, the Parties resolve
to enter into this Agreement, which shall be governed by the following mutually agreed terms and conditions.

 

		1.	Definitions and Interpretation

 

1.1.
Definitions. Any and all capitalized terms used in the Separation Agreement and this Agreement shall have the meanings assigned
to them in this Section 1.1:

 

	Database	
        means the structured set of personal data,
        established in one or several sites, in electronic or physical support;

         

	Personal Data	

        means any information related to the identified
        or identifiable natural person.

         

	Processing	means any operation carried out with Personal Data, such as those that refer to the collection, production, receipt, classification, use, access, reproduction, transmission, distribution, processing, filing, storage, elimination, information evaluation or control, modification, communication, transfer, diffusion or extraction;

 

		2.	Personal data processing by the Parties

 

2.1.
Personal Data Processing. The Parties agree, during and after the Transition Period, to perform the Personal Data processing
always in strict compliance with the Legislation, especially when dealing with Personal Data of the other Party accessed through
the shared database.

 

		2.1.1.	The Parties shall ensure, during and after the Transition Period, appropriate means for Personal
Data protection that is compatible with the Legislation, including, but not limited to, the adoption of appropriate administrative,
technical and physical safeguards to protect Personal Data against: (i) reasonably anticipated threats or risks of privacy, security,
integrity and/or confidentiality of Personal Data; (ii) accidental or unlawful destruction, loss, modification, disclosure or unauthorized
access to Personal Data (including, without limitation, when such processing involves the transfer of Personal Data over a network);
(iii) all other illegal forms of processing Personal Data; and (iv) security or privacy incidents.

 

		2.1.2.	The Parties shall retain each other's data only for the period of time necessary to comply with
their legal or contractual obligations, and/or specifically until the end of the Transition Period.

 

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2.2.
Sharing of Information. Without prejudice to any other provisions in the Transaction Documents, and except for any request
relating to any pending or threatened claim of a Party and/or its Subsidiaries against the other Party and/or its Subsidiaries,
each of the Parties shall make commercially reasonable efforts to provide the other Party and/or its respective Subsidiaries, when
requested, at any time before or after the Effective Date of Spin-off, in the shortest possible time, any information and/or document
that is under its control or possession, as well as access to Persons under its authority, for the purpose of (i) compliance with
obligations by the Requesting Party and/or its Subsidiaries under any applicable Law, including without limitation, as a result
of orders, (ii) being used by the Requesting Party and/or its Subsidiaries in administrative, arbitration and/or court proceedings,
and/or (iii) compliance with the obligations of Requesting Party and/or its Subsidiaries under this Agreement or the other Transaction
Documents, or under any agreements, contracts or commercial arrangements existing prior to the Effective Date of Spin-off. The
Requesting Party shall use the respective information and/or document exclusively for the purposes set forth under this Section,
and in strict compliance with applicable Law, including, without limitation, the LGPD.

 

2.2.1.  
The provision of information and/or documents under this Section 2.2 shall not confer any right of ownership or license to the
Requesting Party over the information and/or documents provided to it, and shall comply with the rules applicable to the sharing
of Personal Data set forth in the LGPD, as the case may be.

 

2.2.2.  Except as otherwise provided for in the Transaction Documents, the Requesting Party shall reimburse the providing Party for any
and all costs and expenses, if any, actually incurred in obtaining, preparing and/or providing the respective information, document
or access to Persons, as applicable.

 

2.3.
Personal Data Holders’ Requests. The Parties undertake, during the Transition Period, to jointly endeavor the best
efforts to comply with requests that may be submitted by the personal data subjects pursuant to Chapter III of the LGPD, as well
as any other exercise of right by a third party pursuant to the Legislation.

 

2.4.
Privacy and Data Protection Policies. The Parties represent that they currently have joint Privacy and Data Protection Policies,
and that, after the end of the Transition Period, the Parties shall have established individual and independent Privacy and Data
Protection Policies for the purposes of duly complying with the Legislation.

 

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		3.	Violations of Personal Data and Mutual Indemnity Obligation

 

3.1.
Obligation to notify personal data violation. The Parties agree that, during and after the Transition Period, the Party
that gives cause to any personal data violation shall notify such occurrence to Agência Nacional de Proteção
de Dados (the National Data Protection Agency) and/or other proper authorities pursuant to the Legislation.

 

		3.1.1.	If the violation involves personal data collected by the other Party, the Party that causes the
violation shall notify the other Party, within a period of 5 (days), counted from the date the violation is identified, so that
the latter may take the necessary measures pursuant to the Legislation. A Party that causes the violation undertakes to endeavor
the best efforts to provide all necessary assistance to the other Party, so that all measures are taken in order to mitigate and
cure the damages that may arise from such violation, and to comply with the determinations by the National Data Protection Authority
or other proper bodies, pursuant to the Legislation.

 

3.2.
Mutual indemnity obligation. The Parties agree that, during the Transition Period, the Party that causes any administrative
and/or court sanction, which may be imposed to the other Party as a result of personal data violation (“Indemnifiable
Loss”), shall indemnify the injured Party in full.

 

3.3.
Indemnification Procedures. In case of occurrence of an Indemnifiable Loss to be indemnified by any of the Parties, the
Parties hereby agree that they shall follow the indemnification procedures determined in Sections 4.2, 4.3, 4.4 and 4.5 of the
Separation Agreement, as applicable.

 

		4.	Term of the Agreement

 

4.1.
Term. The Parties resolve that this Agreement shall remain effective for a period of 24 (twenty-four) months, and may be
terminated under the provisions of Section 8 of the Separation Agreement.

 

		5.	General Provisions

 

5.1.
Notices. All notices, demands, requests, consents, approvals, representations, deliveries or other communications under
this Agreement shall be deemed valid and effective when they are made in writing and delivered (a) in person (upon protocol or
proof of delivery), (b) by registered letter or recognized courier service (with acknowledged receipt request and postage confirmation),
or (c) by email with delivery confirmation, to the following physical and electronic addresses:

 

COMPANHIA BRASILEIRA DE DISTRIBUIÇÃO

Attn.: Chief Executive Officer, with a
copy to the Legal Officer

Avenida Brigadeiro Luiz Antônio,
no 3142, Jardim Paulista, São Paulo/SP, Zip Code 01402-001

Email: jorge.faical@gpabr.com; marcelo.almeida1@gpabr.com

 

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SENDAS DISTRIBUIDORA S.A.

Attn.: Chief Executive Officer, with a
copy to the Chief Financial Officer

Avenida Aricanduva, no 5.555 - Âncora
"E", Central Administrativa Assaí (Shopping Interlar - Aricanduva), Vila Aricanduva, São Paulo/SP, Zip
Code 03527-000

Email: belmiro.gomes@assai.com.br; daniela.sabbag@assai.com.br;
c/c societario.assai@assai.com.br

 

5.1.1.  
The delivery of any notice required under this Agreement may be waived by the Party to whom it is addressed. Any Party may change
the address to which the notice shall be sent, by giving a written notice to the other Party in accordance with Section 5.1, and
with respect to this provision, the notice shall be deemed received only upon recognition of such receipt by the recipient Party.

 

5.2.
Specific Enforcement. The commitments and obligations by each of the Parties under this Agreement are subject to specific
enforcement, in accordance with the Code of Civil Procedure (Law No. 13.105, of March 16, 2015, as amended and in force), and it
is hereby agreed that the fixing of damages shall not constitute an adequate and sufficient redress. For this purpose, the Parties
acknowledge that this Agreement, duly signed by two (2) witnesses, constitutes an extrajudicial enforcement instrument for all
purposes of the Code of Civil Procedure.

 

5.3.
Entire Agreement. This Agreement, together with the Separation Agreement and the other Transaction Documents, comprises
all understandings between the Parties in relation to the subject matter of the Transaction Documents, and shall prevail over all
agreements, understandings, statements, representations and warranties, oral or written, express or implied, existing between the
Parties and their respective Affiliates, representatives and agents with respect to the subject matters of the Transaction Documents.

 

5.4.
Waiver; Amendment. No waiver or termination of this Agreement, or any of the terms or provisions hereof, shall bind the
Parties, except if confirmed in writing. No waiver by any of the Parties of any term or provision set forth in this Agreement or
any default related to this instrument shall impact the rights of such Party, as from such date, to execute such term or provision
or exercise any right or remedy in relation to any other default, whether similar or not. This Agreement may not be modified or
amended, unless in writing and signed by the Parties.

 

5.5.
Invalidity; Ineffectiveness. In the event that one or more provisions of this Agreement are considered void, voidable, invalid
or ineffective, the validity, legality and enforceability of the other provisions contained in this Agreement shall in no way be
affected and/or impaired by such event, remaining in full force and effect, as if such void, voidable, invalid or ineffective provision
was not present.

 

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5.6.
Binding Effect. This Agreement is entered into in an irreversible and irrevocable basis, and constitutes legal, valid and
binding obligations, to be enforceable and to inure to the benefit of the Parties and their respective Affiliates, successors and
permitted assigns.

 

5.7.
Assignment. The Parties may not assign or transfer this Agreement, in whole or in part, in any form, directly or indirectly,
to any third party, without the prior written express consent of the other Party. This Agreement shall bind the Parties and their
respective permitted successors and assignees thereof.

 

5.8.
Compliance with the Agreement. Each of the Parties hereby guarantees compliance, and shall ensure their respective Subsidiaries,
affiliates, officers, directors, employees, representatives and agents to comply with all their obligations, covenants and agreements
under this Agreement and the other Transaction Documents, which shall be complied with by such Subsidiaries, affiliates, officers,
directors, employees, representatives and agents. For the purposes of this Section, the Parties undertake to inform timely about
the obligations, covenants and agreements pertaining to their Subsidiaries, affiliates, officers, directors, employees, representatives
and agents.

 

5.9.
Applicable law. This Agreement shall be governed by and construed in accordance with the laws of the Federative Republic
of Brazil.

 

5.10. Dispute Resolution. In the event of any disputes, conflicts, issues or disagreements of any nature arising out of this Agreement,
the Parties shall comply with the provisions of Section 9.11 of the Separation Agreement.

 

São Paulo, December
17, 2020.

 

	 	/s/ Christophe José Hidalgo	 	/s/ Jorge Faiçal Filho	 
	 	Christophe José Hidalgo	 	Jorge Faiçal Filho	 
	 	Interim CEO, CFO and 

Investor Relations Officer	 	Chief Retail Officer	 

	 	 	 
	Companhia Brasileira de DistribuiÇÃo

 

	 	/s/ Daniela Sabbag	 	/s/ Belmiro de Figueiredo Gomes	 
	 	Daniela Sabbag	 	Belmiro de Figueiredo Gomes	 
	 	CFO and Investor Relations Officer	 	CEO	 

	 	 	 
	Sendas Distribuidora S.A.

 

Witnesses:

 

	1. 	/s/ Geovani Diogo Jardim de Sousa	 	2.	Vanessa Borges Rezende	 
	 	Name: Geovani Diogo Jardim de Sousa	 	 	Name: Vanessa Borges Rezende	 
	 	ID: 49.433.380-7	 	 	ID: 34.864.975-7	 
	 	CPF: 435.826.438-75	 	 	CPF: 305.858.878-02	 

 

 

6Exhibit 4.5

 

Free translation

	 	THIRD PARTY STORES MANAGEMENT
AGREEMENT

 

	SERVICE CONSUMER
	Name: SENDAS DISTRIBUIDORA S/A	Tax ID No.: 06.057.223/0001-71
	Address: Avenida Ayrton Senna, no 6.000
	County: Rio de Janeiro	State: RJ
	Responsible/Department:
	Tel.:	E-mail:
	SERVICE PROVIDER
	Name: FRONTEIRA SERVIÇOS IMOBILIÁRIOS LTDA.	Tax ID No.: 34.309.019/0001-36
	Address: Av. Brigadeiro Luis Antonio, no 3.126
	County: São Paulo	State: SP
	Responsible/Department: Rodrigo Keniti Fernandes Gusukuma
	Tel.: 55 (11) 3886-5964	E-mail: rodrigo.gusukuma@gpamalls.com
	 	 	 

SERVICE CONSUMER              and
               SERVICE PROVIDER referred together herein
as “Parties” and individually as “Party”.

 

WHEREAS:

 

a) 
The SERVICE PROVIDER develops and explores the business activity of sale, management and operation of retail sites;

 

b) 
The SERVICE PROVIDER also explores the business activity of sale of sites and marketing for interested third parties;
and

 

c) 
The SERVICE CONSUMER has different stores located at the addresses described in Annex I and desires to hire the
services provided by the SERVICE PROVIDER to perfect the businesses of its retail sites.

 

NOW THEREFORE, the Parties agree to enter into
this Third-Party Stores Management Agreement (the “Agreement”), pursuant to the following terms and conditions:

 

CLAUSE 1 – SERVICES

 

 1.1. This Agreement is entered by the Parties for the execution of the services (“Services”), by the SERVICE PROVIDER to the SERVICE CONSUMER, as detailed below:

 

(i) Commercialization of retail sites (“Lease of Sites”),
including the advertisement of the sites in the digital platforms of the Economic Group of the SERVICE PROVIDER, at the
request and on behalf of the SERVICE CONSUMER;

 

 (ii) Management of all lease agreements relating to leases of Commercial Sites (“Agreements Management”), including all agreements that were not intervened by the SERVICE PROVIDER, which shall have the participation of the SERVICE CONSUMER in the event of amendments to pre-existing agreements;

 

 (iii) Announcement and marketing of sites and/or marketing of third parties (“Marketing”), at the request and on behalf of the SERVICE PROVIDER;

 

(iv) Temporary Concession of rights to use sites for the preparation of events and other purposes (“Site Concession”), at the request and on behalf of the SERVICE PROVIDER;

 

(v) Temporary Concession of Sites (“Kiosk”);

 

(vi) Intervening and hiring of legal counseling relating to lease agreements (“Legal Counseling”), at the request and on behalf of the SERVICE PROVIDER; and

 

(vii) Business operations of kiosks (“Operation”).

 

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	 	THIRD PARTY STORES MANAGEMENT
AGREEMENT

 

 1.2. The Parties agree as to the possibility of the SERVICE PROVIDER to initiate studies and work necessary relating to Commercial Sites of the SERVICE CONSUMER, allowing full access of the SERVICE PROVIDER to its retail sites and to the related lease agreement, as well to all the relevant documentation.

 

 1.3. Concerning to item (iii) of Section 1.12 above, the Parties agree as follows:

 

 1.3.1. The SERVICE PROVIDER, SERVICE CONSUMER and advertising and marketing agencies (“Agencies”) will execute specific agreements (“Advertising Agreements”) for the marketing services of the agencies clients (“Advertisers”);

 

 1.3.2. The divulgation of each advertise on the sites and its commercial and operational conditions will be formalized through a legal instrument called Insertion Request (“IR”), which shall be signed between the Advertisers and the Agencies and to be included as an exhibit to the Advertising Agreements;

 

 1.3.3. The SERVICE CONSUMER will have the sole discretion to approve the advertises and the Advertisers that are negotiating sites with the SERVICE PROVIDER.

 

CLAUSE 2 – PAYMENT

 

 2.1. For the Services rendering, the SERVICE CONSUMER will pay the SERVICE PROVIDER, as follows:

 

 2.1.1. Sites Commercialization (leases):

 

(a) value of 3,3% of the
GLV (general lease value), paid by the SERVICE CONSUMER to the SERVICE PROVICER upon the signature of the Lease agreement;

 

(b) If the lease is extended,
the payment detailed in item (a) above, 20% of the spread between the old lease value and the new lease value.

 

(c) If the GLV, which is
defined as the sum of the amounts of the leases, is variable (e.g. percentage of the lessee gross revenue), the SERVICE PEROVIDER
will present the SERVICE CONSUMER the projection of the monthly gross revenue of the lessee. The payment will be equal to
the percentage of item (a) above applied to the gross revenue of the lessee.

 

 2.1.2. Marketing and Site Concession: payment of 30% of the revenue of the SERVICE CONSUMER with the Marketing, Site Concession and events, all offset of the production and appliance costs.

 

 2.1.3. Temporary Concession of Sites (Kiosk): monthly payment of 8,33% of the monthly lease due and paid, being certain that this payment will only be due to the SERVICE PROVIDER in relation to Temporary Concession duly intervened by the SERVICE PROVIDER;

 

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	 	THIRD PARTY STORES MANAGEMENT
AGREEMENT

 

 2.1.4. Agreement Management: management fee of 10% of the revenue of the managed agreements (lease, advertising, site concession, temporary site concession), regardless if the agreements are intervened by the SERVICE PROVIDER or not; and

 

 2.1.5. Operation: operation fee of 12% of the revenue of the managed agreements (lease, advertising, site concession, temporary site concession), regardless if the agreements are intervened by the SERVICE PROVIDER or not.

 

 2.2. The payments detailed in Section 2.1 will be paid by the SERVICE CONSUMER to the SERVICE PROVIDER as follows:

 

(i) The SERVICE
PROVIDER will charge the lessees on behalf of the SERVICE CONSUMER, being certain that the SERVICE CONSUMER
will receive the payments directly by the lessees.

(ii)
The SERVICE CONSUMER has the full responsibility to indicate to the SERVICE PROVIDER, until the 20th of each
month, the values owed by the lessees with the costs associated with the common areas and specific consumption (light, water, gas,
among others) (“Costs”). The Costs shall be charged by the SERVICE PROVIDER from the lessees, in the subsequent
month of the values informed by the SERVICE CONSUMER.

(iii)
The payment of fees to the SERVICE PROVIDER will be done at month’s end and shall be based in the percentage
of revenues of the respective month.

(iv)
The SERVICE CONSUMER shall pay the services fees to the SERVICE PROVIDER by means of wire transfer or bill.

 

2.3. The payments that
shall be done to the SERVICE PROVIDER already includes all the related charges such as taxes (ISS, PIS and COFINS) owed
in connection with the Services, as well as all associated expenses, including salaries to the personnel hired for execution of
the Services. The SERVICE PROVIDER will not charge any other costs or expenses related to the Services, unless the SERVICE
CONSUMER agrees to pay any additional charges before the payment is due, which will only be due by the SERVICE CONSUMER
if the SERVICE PROVIDER proves such cost or expense.

 

2.4. The taxes that are
due or will be due in connection with the payments made within this Agreement will be solely paid by the person who is responsible
for such payment in accordance with the applicable law.

 

CLAUSE 3 – OBLIGATIONS OF THE SERVICE
PROVIDER

 

3.1. In addition to the other
obligations of this Agreement, the SERVICE PROVIDER agrees to:

 

a)
Render the Services in accordance with the applicable law and the SERVICE CONSUMER needs and requests, and all Services
shall be rendered with quality, best practices and in congruence with their purpose;

 

b)
Comply with all the orders, law and regulation of all governmental authorities, being liable for the compliance of agreements
and sub agreements with the aforementioned orders, law and regulations, as well as this Agreement and its Annexes;

 

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	 	THIRD PARTY STORES MANAGEMENT
AGREEMENT

 

c) Train
all the employees of services providers that will render the Services, being prohibited the execution of any activity that is different
from the Services;

 

d) Pay
all the direct and indirect compensations owed to its employees, representatives, services providers, direct or indirectly involved
with the rendering of the Services of this Agreement, as well as all the taxes, costs and expenses owed in connection with the
labor or contractual relation and this Agreement;

 

e) Obtain
and guarantee that all the licenses, authorizations and permissions needed for the Services rendered are valid, including any qualification
or demand that may come from any union or profession boards.

 

CLAUSE 4 – OBLIGATION OF THE SERVICE
CONSUMER

 

4.1. In
addition to the other obligations of this Agreement, the SERVICE CONSUMER agrees to:

 

 a) To deliver to the SERVICE PROVIDER, as a part of a due diligence, the documents and information needed for the Services rendering, as detailed below:

 

a.1. Cadastral information’s,
Agreements and material understandings with all sublessees/assignees, suppliers and partners, who maintain or have maintained agreements
of any nature, signed less than 1 year ago with the SERVICE CONSUMER, relating to the real state were the SERVICE PROVIDER
will render its services.

 

a.2. Access to all the
valid agreements with the landowners of the real state in full, relating to the real state were the SERVICE PROVIDER will
render its services.

 

a.3. The
aforementioned information shall be delivered by the SERVICE CONSUMER to the SERVICE PROVIDER within 30 days of the
signing of this Agreement.

 

a.4. The
SERVICE PROVIDER will have the right to analyze all documents detailed and delivered by the SERVICE PROVIDER to the
SERVICE CONSUMER, for the period of 6 months. During this timeframe, the Parties may agree to alter directives, as well
as to amend this Agreement, always through the preparation of a signed written instrument.

 

 b) Pay money owed in due time in connection with this Agreement;

 

 c) Audit, at its own willingness, all the Services, without any type of diminution of the liability of the SERVICE PROVIDER in relation to the Services rendering;

 

 d) Inform the SERVICE PROVIDER immediately if a Commercial Site is leased.

 

4.2. If there is any pre-existent
lease in the Venture, the SERVICE CONSUMER shall, within 30 days from the signature of this Agreement, provide the inclusion
of the SERVICE PROVIDER as manager in the lease agreements. After 30 days, regardless of any formal act, or the lack thereof,
of the SERVICE PROVIDER, as manager in those agreements, will have the right to collect the payments relating to managing
and operation, which will be due by the SERVICE CONSUMER.

 

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	 	THIRD PARTY STORES MANAGEMENT
AGREEMENT

 

CLAUSE 5 - CONFIDENTIALITY

 

5.1 Each Party and each
respective partner, employees, representatives and/or services providers, hereby undertakes to not disclose any information, data,
organization methods, commercial rules or any other documents, data and information’s of the other Party and its respective
affiliates, that it may get ahold in the development of this Agreement. The failure by any Party to fulfill the obligation set
forth in this Section will subject the respective Party to civil and criminal liability.

 

5.2. After
termination of this Agreement, regardless of the reason for termination, the Party that has received any information relating to
the other Party shall return such information to the giving Party and any and all documents that it may have in its possession,
or it shall destroy any and all such information or documents.

 

5.3. If
the Party that receives any information from the other Party is required by any governmental body or judicial and/or administrative
order do disclose any information or document relating to the other Party, it shall inform immediately the other Party and it shall
only make available enough information to meet such request.

 

5.4 All the obligations
set forth in this Clause shall remain valid for the entirety of the validity of this Agreement and for an additional 5 years from
the termination of this Agreement, regardless if the Parties remain associated or not.

 

CLAUSE 6 – TERM
AND TERMINATION

 

6.1 This Agreement is entered
into by the Parties and will remain valid for a period of 60 months, which will be counted from de signature date of this Agreement,
and it may be extended by the written and signed agreement of both Parties.

 

6.2. Without
limitation of Section 6.1 above, any Party may terminate this Agreement, regardless of any reason, by sending a written communication
to the other Party with a ninety day advance; Fulfilled this requirement, none of the Parties will owe the other Party any kind
of penalty or indemnity, or any other sum of money, with the exception of amounts due in connection with this Agreement that are
owed before the effective termination of this Agreement.

 

 6.3. This Agreement may be terminated immediately by:

 

a) Any
Party, when the other Party have not corrected any noncompliance or breach of this Agreement within 15 days from the receival of
a written communication by the other Party to correct such noncompliance or breach, without limitation of any penalty or losses
or damages that may be due;

 

b) Any
Party, if the other Party is in any bankruptcy or insolvency proceeding;

 

 c) By the SERVICE CONSUMER, if the SERVICE PROVIDER has lost its license or qualification for the rendering of the Services;

 

 d) Other cases provided for in law.

 

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	 	THIRD PARTY STORES MANAGEMENT
AGREEMENT

 

6.4 Regardless of the term
of this Agreement, the Clauses that, by their own nature, shall remain valid, will remain valid after the termination of this Agreement.

 

6.5. If this Agreement
is terminated, regardless of the procedure for termination, and it’s not extended, the payment of the amounts in connection
with the Services rendering of the Sites Commercialization, detailed in Section 2.1.1, will be owed by the SERVICE CONSUMER,
counting the months that remain for the end of the lease term which were intervened by the SERVICE PROVIDER.

 

CLAUSE 7 –
OBLIGATIONS OF THE SERVICE PROVIDER IN CASE OF JUDICIAL PROCEEDINGS

 

7.1. The
Parties hereby expressly state that this Agreement does not constitute any employment relationship or liability of the SERVICE
CONSUMER in relation to the personnel of the SERVICE PROVIDER employed for the execution of the Services, being the
sole responsibility of the SERVICE PROVIDER to pay all the costs, expenses and salaries concerning such employees and to
comply with all applicable law.

 

7.2. The
SERVICE PROVIDER hereby undertakes to assume any and all claims related to working relations that may exist in connection
with its employees that have rendered the Services of this Agreement, which may have a judicial or administrative nature, being
solely responsible for hiring counsel to its defense and to pay all related costs and expenses, including fees due to the court
or to third party counsel.

 

7.3. The
SERVICE PROVIDER will promptly reimburse the SERVICE CONSUMER of any and all costs that the SERVICE CONSUMER
may have to pay and are related to payments that are the sole responsibility of the SERVICE PROVIDER in accordance with
this Clause. The payment shall be made by the SERVICE PROVIDER within 10 business days after a final and unappealable decision
within such proceedings, which shall be counted from the communication sent by the SERVICE CONSUMER to the SERVICE PROVIDER
detailing such costs and expenses and presenting proofs of payment, and the counsel fees shall be limited to the value provided
for in the Brazilian Bar Association Table of Fees.

 

7.4. If
the SERVICE PROVIDER is demanded in any judicial and/or administrative claim relating to obligations that are the sole responsibility
of the SERVICE CONSUMER, regardless of the nature of the claim, the SERVICE CONSUMER will request its inclusion in
such demand and request the exclusion of the SERVICE PROVIDER of the claim as defendant and/or requested party, in case
of administrative claims. If the SERVICE PROVIDER is not excluded from a claim, regardless of the reason, the SERVICE
PROVIDER will choose counsel to conduct its defense, being the SERVICE CONSUMER solely liable for paying the costs relating
to the SERVICE PROVIDER defense, including court fees.

 

    6 

     

    

 

	 	THIRD PARTY STORES MANAGEMENT
AGREEMENT

 

CLAUSE 8 – REPRESENTATIONS AND WARRANTIES

 

8.1. Each Party hereby represents and warranties:

 

a)
It is an entity duly organized and valid existing, and it has the authority to possess its assets and to conduct its business;

b)
It has the capacity, powers and authority to execute this Agreement and to fulfill all the obligation set forth herein;

c)
Performs its business in strict accordance with the applicable law and regulations and it has all the approvals, licenses,
permits and/or permissions;

d) Performs
all the actions needed for the environment protection, conducting its business in a sustainable manner and complying with all
environmental applicable law and regulations;

e)
Complies strictly with the Statute for Minors (Law No. 8.069/90) and other applicable law or regulation and it does not
employ any minors to its labor or workforce, including apprentices, in an environment that its harmful for the minor development,
and it does not maintain any commercial agreement or understanding with entities that do not comply with this item ‘e’;

f)  It does not explores and will not explore any workforce that is similar to slave condition, complying fully with the Universal
Declaration of Human Rights, as well as the Conventions No. 29 and 105 of the International Labor Organization, its Declaration
of Principles and Fundamental Labor Rights and the American Convention of Human Rights;

g)
It does not have discrimination practices which limit the access of certain individuals in its workforce;

h)
Its workforce environment does not imply risks to its employees, training and implementing actions to reduce any risks in
relation to labor casualty, in addition to improve its workforce working conditions. In the working environment, the employees
have access to drinking water, adequate ventilation, emergency exits, appropriate lightning, suitable bathrooms and generally safety
conditions; and

i)  It does not hire third parties that do not comply with the aforementioned principles.

 

8.2. In the case of proposals
and prospection of lessees to the SERVICE CONSUMER, if the commercialization of the real state is not conclude with the
lessee, the SERVICE CONSUMER will be prohibited to commercialize with this lessee for the same real state without the intervening
of the SERVICE PROVIDER, for a term of 24 months, which shall be counted from the remittance of the proposal by the SERVICE
PROVIDER.

 

8.2.1. If the aforementioned
transaction is concluded without the intervening of the SERVICE PROVIDER, the SERVICE CONSUMER will pay fully the
value of commercialization to the SERVICE CONSUMER.

 

CLAUSE 9 – GENERAL PROVISIONS

 

9.1. The
communications between the Parties may be done through the e-mail address detailed in the first page of this Agreement. However,
any communication concerning a contractual default by any Party shall be done by delivery of a hard copy of the communication
in the address of the other Party. Both Parties hereby agree to inform each other if there are any changes in the respective addresses.

 

9.2.
Failure to exercise or delay in the exercise of any right under this Agreement and its related documents will not prevent
the exercise of such right or the corresponding right to action and shall not constitute a waiver of, novation of or consent to
such default or any other that may occur in the future. No partial exercise of any right shall preclude the subsequent exercise
of such right or any other right.

 

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	 	THIRD PARTY STORES MANAGEMENT
AGREEMENT

 

9.3. The
Parties to this Agreement are independent contractors. There is no relationship of agency, partnership, joint venture, employment
or franchise between the Parties, and no Party may represent the other with any other third party without the previous consent
from the other Party.

 

 9.4. This Agreement is biding upon the Parties and its respective successors.

 

9.5. This Agreement does not constitute exclusivity of one Party in relation to the other, being both Parties free to execute
agreements with third parties with the subject similar to this Agreement.

 

9.6.
None of the contracting Parties hereto may assign this Agreement, whether in whole or in part, without the prior written
consent of the other Party. Partial or entire assignment will only be effective after execution of a written agreement between
the Parties and the person to which this Agreement is being assigned.

 

9.7. If any of the Parties is temporally impeded to fulfill its obligations, whether in whole or in part, due to force majeure,
in accordance with the sole paragraph of the Article 393 of the Brazilian Civil Code, it shall promptly communicate such impediment
to the other Party and to formalize, in writing, such communication, within 2 business days of the force majeure event.

 

9.7.1.
If the occurrence of a force majeure event is verified, the obligations that have its completion impeded will be suspended,
being demandable as soon as it is possible to fulfill such obligations. Within the period of suspension of the Services due to
a force majeure event, the SERVICE CONSUMER will not have to pay any amount that may be due in connection with this Agreement.

 

9.7.2.
If the force majeure event occurs for more than 30 days, any Party may terminate this Agreement by sending the other Party
a written communication with a thirty-day advance, and there shall be no penalties in connection with such termination.

 

9.8.
The Parties hereby declare that both have their own Ethics Code and Anticorruption Policies and hereby undertake to observe
and guarantee that its respective workforce respect such documents. SERVICE PROVIDER link to the Ethics Code and Anticorruption
Policies: (http://www.gpabr.com/pt/etica-e- compliance/); and SERVICE CONSUMER link to the Ethics Code and Anticorruption
Policies: (https://www.assai.com.br/sites/default/files/codigo_de_etica_assai.pdf) and (https://www.assai.com.br/politica-anticorrupcao).

 

9.8.1.
The Parties hereby undertake to fulfill, and provide that is fulfilled, by itself, its affiliates, managers, employees,
shareholders or other service providers, the Brazilian Anticorruption Law (Law No. 12.846/13) and related regulations, being obliged
to (i) adopt the best practices of integrity and compliance, with the aim to prevent corruption acts, fraud, illicit acts or money
laundering; (ii) abstain to execute corruption acts and to act in a manner that is harmful to the public administration, in the
interest or in the benefit, exclusive or not, of the Parties, and, specially, not to grant anything of value to a public agent
or any related person with the aim to obtain an advantage or to influence the decision making process of this public agent; and
(iii) if the Parties know or get to know any act or fact that may breach the aforementioned law and regulations, it shall communicate
immediately to the other Party through the following channels: (a) if, to the SERVICE PROVIDER: ouvidoria@gpabr.com and
compliance@gpabr.com; and (b) if to the SERVICE CONSUMER, compliance@assai.com.br and ouvidoria@assai.com.br, which will
be responsible for conduction of necessary measures.

 

    8

     

    

 

	 	THIRD PARTY STORES MANAGEMENT
AGREEMENT

 

9.8.2.    
All interactions with public agents will be in strict compliance with this Agreement, specially to the anticorruption clause,
subject to the penalties of the law and this Agreement.

 

9.8.3.
The Parties furthermore represent and warranty that there is not any public agent or person next to a public agent that
will be direct or indirectly benefited from this Agreement.

 

9.9.
In connection with this Agreement, the Parties hereby agree to continue to use their integrated systems such SAP and Sales
Force for the control and compilation of information, charges, terms and any and all proceeding to be taken for the Services rendering.

 

9.10.  
This Agreement substitutes and revokes all previous agreements and understanding between the Parties with the same subject.

 

9.11.
This Agreement was prepared and signed after valuable consideration and in good faith by both Parties. Therefore, the Parties
furthermore state that, for all legal effects: (i) had the previous knowledge of this Agreement and understand clearly all the
obligations set forth herein; (ii) agree with the terms and conditions of this Agreement; (iii) are duly represented in accordance
with their respective corporate documents and have all the necessary authorizations, powers and capacity to assume the obligations
set forth herein; and (iv) the obligation set forth in this Agreement are not in conflict with other obligations assumed by the
Parties in other agreements, or even with any judicial and/or administrative order.

 

9.12.
The conditions set forth herein may be altered from time to time due to business negotiation, but the changes will only
be accepted through a written and signed amendment to this Agreement.

 

9.13.
This Agreement constitutes the sole understanding between the Parties relating to the Services.

 

CLAUSE 10 - CONFLICTS

 

10.1. The Parties hereby
elect the court located in the city of São Paulo, state of São Paulo, to be the only court with jurisdiction to decide
upon any conflict that may arise in connection with this Agreement, regardless of any benefit that other court may have.

 

IN WITNESS WHEREOF, the Parties hereto
have caused this Agreement to be duly executed and delivered, in 2 counterparts of equal content and form, by their respective
duly authorized signors and 2 witnesses.

 

São Paulo, January 12, 2021.

 

[Remainder of the page left intentionally
in blank; signature page follows]

 

    9

     

    

 

	 	THIRD PARTY STORES MANAGEMENT
AGREEMENT

 

	 	/s/ Daniela Sabbag Papa	 	/s/ Wlamir dos Anjos	 
	 	Daniela Sabag Papa	 	Wlamir dos Anjos	 
	 	Title	 	

Title

	 

	 	 	 
	SENDAS DISTRIBUIDORA S/A

 

	 	/s/ Natalia Innocenzi	 	/s/ Rodrigo Keniti Fernandes Gusukuma	 
	 	Natalia Innocenzi	 	Rodrigo Keniti Fernandes Gusukuma	 
	 	Officer	 	Manager	 

	 	 	 
	FRONTEIRA SERVIÇOS IMOBILIÁRIOS LTDA.

 

Witnesses:

 

	1. 	/s/ Raquel de Souza Lima Monteiro
	 	2.	/s/
                                         Andressa de Abreu Porta
	 
	 	Tax ID No.: 360.847.728-46	 	 	Tax ID No.: 422.660.408-39	 
	 	Raquel de Souza Lima Monteiro	 	 	Andressa de Abreu
Porta	 

 

 

10

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