DEPOSIT AGREEMENTDeposit Agreement • May 2nd, 2011 • Citibank,N.A./ADR • New York
DEPOSIT AGREEMENT, dated as of April __, 2011, by and among (i) Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao S.A., a company organized and existing under the laws of the Federative Republic of Brazil (“Brazil”), and its successors (the “Company”), (ii) CITIBANK, N.A., a national banking association organized and existing under the laws of the United States of America acting in its capacity as depositary, and any successor depositary hereunder (the “Depositary”), and (iii) all Holders and Beneficial Owners from time to time of American Depositary Shares issued hereunder (all such capitalized terms as hereinafter defined).
