VC_SANTA HELENA Votorantim GECON VE.: 249/10 - GECON VC: 257/10 Energy FIRST AMENDMENT TO THE ELECTRIC POWER PURCHASE AND SALE AGREEMENT BETWEEN VOTENER - VOTORANTIM COMERCIALIZADORA DE ENERGIA LTDA. AND VOTORANTIM CIMENTOS S.A.
Exhibit 10.4
| VC_SANTA HELENA
|
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| Votorantim | GECON VE.: 249/10 - GECON VC: 257/10 | |
| Energy |
| FIRST AMENDMENT TO THE ELECTRIC POWER PURCHASE AND SALE AGREEMENT BETWEEN VOTENER - VOTORANTIM COMERCIALIZADORA DE ENERGIA LTDA. AND VOTORANTIM CIMENTOS S.A. |
VOTENER - VOTORANTIM COMERCIALIZADORA DE ENERGIA LTDA., a private legal entity, distributor of electrical power with its headquarters at Praça Xxxxx xx Xxxxxxx, 000 - 0xx xxxxx, Xxxxxxxx Xxxxxx, Xxxx of São Paulo, São Paulo State/SP, Federal Company Tax Registration (CNPJ). 03.984.862 / 0001-94, State Company Tax Registration (IE): 1,159,705,901,118, represented by its legal representatives established by the terms of its Articles of Association and duly signed by them, hereinafter known as the SELLER; and;
VOTORANTIM CIMENTOS S.A., successor by incorporation to VOTORANTIM CIMENTOS BRASIL S.A., a private legal entity, with industrial plant situated at Xxxxx Xxxxxx 00, Xxxx Santa Helena District, in the Municipality of Votorantim, São Paulo State/SP, Postcode: 18117-720, Federal Company Tax Registration (CNPJ): 01.637.895 / 0174-50, State Company Tax Registration (IE): 717.116.068.110 , represented by its legal representatives as established by the terms of its Articles of Association and duly signed by them, hereinafter known as the PURCHASER;
jointly referred to as PARTIES, and separately referred to as PARTY;
WHEREAS:
| (i) | The PARTIES signed on 12/01/2009 an Electric Power Purchase and Sale Agreement, for the period between 1 January 2010 and 31 December 2014 (“AGREEMENT”); |
| (ii) | The AGREEMENT foresees, by the SELLER, the planning and management of the energy resources required to meet the demand of the industrial plants belonging to the Votorantim Group. |
| (iii) | The planning and management undertaken by the SELLER ensures that the actual price paid by the PURCHASER for the supply of energy may be less than or greater than the PRICE laid down in Appendix II; |
The SELLER and the PURCHASER agree in common accord to this FIRST AMENDMENT, with the following terms and conditions:
FIRST CLAUSE
CLAUSE 2.1 of the AGREEMENT shall now read as follows:
| 2.1. | This AGREEMENT shall take effect dating from the date of signature and shall remain in force during the entire SUPPLY PERIOD, until 31 December 2015, or until all the contractual obligations of both PARTIES have been fulfilled, in accordance with the terms of payment for the monthly invoices relating to the delivery of the quantity of ENERGY CONTRACTED for that period, unless this agreement is terminated prematurely. |
SECOND CLAUSE
CLAUSE 3.1 of the AGREEMENT shall now read as follows:
| 3.1. | The PURCHASER shall pay the SELLER the price per megawatt-hour supplied as set out in Item D in Appendix I, based on the forecast of the amount of energy to be supplied as set out in that Appendix, observing the provisions established in Appendix II. |
| 3.1.1. | The PARTIES declare and accept that there may be significant variations between the PRICE set out in item D of Appendix I and the PRICE billed to the PURCHASER in invoices raised for the supply of electrical energy during the period of this AGREEMENT as a result of variations in the consumption of electrical energy by the PURCHASER and of the management procedures implemented by the SELLER. |
| 3.1.2 | Similar to the situation provided for in item 3.1.1, the PARTIES declare and accept that there may be significant variations between the QUANTITY of ENERGY CONTRACTED for as set out in item C of Appendix I and the amount billed to the PURCHASER in invoices raised for the supply of electrical energy during the period of this AGREEMENT as a result of variations in the consumption of electrical energy by the PURCHASER and of the management procedures implemented by the SELLER. |
| VC_SANTA HELENA
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| Votorantim | GECON VE.: 249/10- GECON VC: 257/10 | |
| Energy |
THIRD CLAUSE
Appendix I of the original AGREEMENT is fully replaced by the Appendix to this FIRST AMENDMENT.
FOURTH CLAUSE
Upon signature of this first amendment to the AGREEMENT, where it states “Votorantim Cimentos Brasil S.A”. it should now be read as “Votorantim Cimentos S.A.”.
FIFTH CLAUSE
All other terms and provisions contained in the AGREEMENT and its Appendixes shall remain in force. Terms and expressions used in this FIRST AMENDMENT which are not specifically defined therein shall have the meaning assigned to them in the AGREEMENT.
In witness whereof, the PARTIES enter into this agreement in two copies of equal content and form in the presence of the two undersigned witnesses.
São Paulo, 3 January 2011.
ON BEHALF OF: VOTENER - VOTORANTIM COMERCIALIZADORA DE ENERGIA LTDA:
| /s/ Xxxxxx Xxxxxxxx xx Xxxxxxx |
/s/ Xxxx Xxxxxx Xxxxx Izar | |||||||
| Name: | XXXXXX XXXXXXXX XX XXXXXXX | Name: | XXXX XXXXXX XXXXX IZAR | |||||
| Position: |
DIRECTOR | Position: |
DIRECTOR | |||||
ON BEHALF OF: VOTORANTIM CIMENTOS BRASIL S.A.
| /s/ Xxxxxx Xxxxxx |
/s/ Xxxxxx Xxxxxxx | |||||||
| Name: | XXXXXX XXXXXX | Name: | XXXXXX XXXXXXX | |||||
| Position: |
DIRECTOR | Position: | DIRECTOR | |||||
Witnesses:
| /s/ Alba Xxxxxxxx Xxxxxxx |
/s/ Dorinha Pecchi | |||||||
| Name: |
ALBA XXXXXXXX XXXXXXX | Name: | DORINHA PECCHI | |||||
(Signature page of the FIRST AMENDMENT to the Electric Power Purchase and Sale Agreement between Votener and Votorantim Cimentos S.A.)
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| Votorantim q Energy |
VC_SANTA HELENA
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| GECON VE.: 249/10 - GECON VC: 257/10 |
Appendix I
A) POINT OF DELIVERY: Central-West Region sub-market Nominal Delivery Point
B) PERIOD OF SUPPLY: The obligation of SELLER to deliver the quantity of CONTRACTED ENERGY commences on January 2010 and terminates on 31 December 2015.
C) CONTRACTED ENERGY: The quantity of electrical energy expressed in megawatt-hours.
C.1) Period: 01/01/2010 to 12/31/2010
| Jan. /10 |
Feb. /10 |
March/10 |
April /10 |
May/10 |
June/10 |
|||||||||||||||||
| 25,034.129 | 22,849.064 | 19,786.650 | 24,064.021 | 25,125.419 | 26,663.250 | |||||||||||||||||
| July/10 |
Aug./10 |
Sept./10 |
Oct./10 |
Nov./10 |
Dec./10 |
|||||||||||||||||
| 24,684.682 | 27,206.185 | 18,367.055 | 23,225.653 | 23,749.585 | 23,315.144 | |||||||||||||||||
C.2) Period: 01/01/2011 to 12/31/2011
| Jan. /11 |
Feb. /11 |
March/11 |
April /11 |
May/11 |
June/11 |
|||||||||||||||||
| 7,583 | 8,697 | 7,930 | 24,589 | 25,690 | 24,966 | |||||||||||||||||
| July/11 |
Aug./11 |
Sept./11 |
Oct./11 |
Nov./11 |
Dec./11 |
|||||||||||||||||
| 24,607 | 23,410 | 24,237 | 24,660 | 24,529 | 24,458 | |||||||||||||||||
C.3) Period: 01/01/2012 to 12/31/2015
| 2012 |
2013 |
2014 |
2015 |
|||||||||||||||
| 393,673 | 434,961 | 434,961 | 434,961 | |||||||||||||||
D) PRICE: Values expressed in Brazilian Reals per megawatt-hour (without Sales and Services Tax (ICMS) but including the Social Levy (PIS-COFINS)). The prices below are those for the reference dates given for each period and will be readjusted every 12 (twelve) months in accordance with the General Market Price Index (IGP-M) calculated by the Xxxxxxx Xxxxxx Foundation or by any other index that replaces it.
D.1) Reference Date: 12/31/2009
| Jan./10 |
Feb. /10 |
March/10 |
April/10 |
May/10 |
June/10 |
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| R$82.13 | R$ | 76.76 | R$ | 96.49 | R$ | 115.30 | R$ | 112.04 | R$ | 133.57 | ||||||||||||
| July/10 |
Aug./10 |
Sept./10 |
Oct./10 |
Nov./10 |
Dec./10 |
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| R$125.71 | R$ | 121.13 | R$ | 116.62 | R$ | 116.04 | R$ | 115.52 | R$ | 132.60 | ||||||||||||
D.2) Reference Date: 12/31/2010
| Jan./11 |
Feb. /11 |
March/11 |
April/11 |
May/11 |
June/11 |
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| R$111.41 | R$ | 121.88 | R$ | 124.98 | R$ | 129.99 | R$ | .130.73 | R$ | 130.53 | ||||||||||||
| July/11 |
Aug./11 |
Sept./11 |
Oct./11 |
Nov./11 |
Dec./11 |
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| R$128.95 | R$ | 127.78 | R$ | .130.29 | R$ | 130.94 | R$ | 130.84 | R$ | 127.25 | ||||||||||||
D.3) Reference Date: 06/30/2010
| 2012 |
2013 | 2014 | 2015 | |||||||||||||||
| R$130.71 | R$ | 134.57 | R$ | 138.51 | R$ | 142.72 | ||||||||||||
| Votorantim q Energy |
VC_SANTA HELENA | |
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GECON VE.: 249/10 - GECON VC: 257/10 |
E) PLANT SUPPLIED WITH ELECTRICAL ENERGY
| Company Name | VOTORANTIM CIMENTOS S.A. | |
| Tax Registration (CNPJ): |
01.637.895/0174-50 | |
| State Registration (IE): |
717.116.068.110 | |
| Address: |
Praça Brasil, n°. 00, Xxxxxx: Xxxx Xxxxx Xxxxxx, Xxxxxxxxx: Votorantim, Estado: São Paulo/SP, CEP: 18117-720 |
F) RESPONSIBLE FOR AGREEMENT
| SELLER |
PURCHASER | |
| Name: Dorinha Pecchi | Name: Xxxxxx xx Xxxxxxxx Xxxxxx | |
| Telephone: (00)0000-00000 | Telephone: (00) 0000-0000 | |
| E-mail: xxxxxxx.xxxxxx@xxxxxxxx.xxx.xx | E-mail: xxxxxx.xxxxxx@xxxxxxxxx.xxx.xx | |
| Address: Praça Xxxxx xx Xxxxxxx, n°. 254 - 5th Andar, Bairro: Centro, Município: São Paulo, Estado: São Paulo/SP, CEP: 01037-912 | Address: Praça Brasil, n°. 00, Xxxxxx: Xxxx Xxxxx Xxxxxx, Xxxxxxxxx: Votorantim, Estado: São Paulo/SP, CEP: 18117-720 |
