Common use of Supervisory Committee Clause in Contracts

Supervisory Committee. The Parties hereby agree to organize a Supervisory Committee with eight (8) members, four (4) appointed by Telecom Argentina and four (4) appointed by Cablevisión, who shall be in charge of supervising the companies’ activities in order to ensure compliance with the ordinary course of business and the ordinary course of operations of each company as well as compliance with the contractual conditions with their respective related parties. The members of such committee shall maintain the confidentiality of any information of any of the companies to which they may gain access, and shall only inform the companies’ respective board of directors of any situations detected by them that may affect the ordinary course of business and the ordinary course of operations or the Exchange Ratio. In addition, the members of such Committee shall request any information that may be necessary to prepare Form F-1 to be filed before the National Antitrust Commission (“Comisión Nacional de Defensa de la Competencia”) pursuant to applicable law.