THE WORLD BANK IBRD * IDA I WORLD BANKGROUP ISSAM A. ABOUSLEIMAN Country Manager, Colombia Latin America and the Caribbean Region DOCUM ENTS January 6, 2017 Ms. Sonia Romero Torres Secretary General National Health Superintendence of the Republic of Colombia Av. Ciudad de Cali 51-66 Pisos 6-7, World Business Center Bogota, Colombia Dear Ms. Romero: Subject: Colombia: Strengthening of National Health Superintendence (P159955) Reimbursable Advisory Services (RAS) Agreement - Amendment No. 1 We refer to the Reimbursable Advisory Services Agreement ("RAS Agreement") between the National Health Superintendence of the Republic of Colombia (Superintendencia Nacional de Salud de la Reptiblica de Colombia) (the "Client") and the International Bank for Reconstruction and Development (the "Bank"), dated June 14, 2016. Please note that capitalized terms used in this letter (the "Amendment Letter") and not defined herein have the meaning ascribed to them in the RAS Agreement. Pursuant to the request expressed in a number of conversations between the Bank team and the Client's contract office, and confirmed in an email exchange dated December 22, 2016, the Bank agrees to: (a) change the amount of installments and deliverables in Section 4(a) of the RAS Agreement; and (b) update the timetable accordingly in Section B of the Schedule to the RAS Agreement. In view of the above, the Bank proposes to amend the RAS Agreement as follows: 1. Paragraph 4 of the RAS Agreement is hereby amended and replaced in its entirety to read as follows: "4. Payment. (a) The Client shall pay the Bank a fixed fee of one million one hundred and seven thousand US Dollars (US$1,107,000) in accordance with the following schedule of payment: 1818 H Street NW - Washington, DC 20433 USA -2- Amount of No. Installment Event upon which Payment is Due Upon delivery of Deliverables 1.1, 1.2, 1.3,1.4, 10.1 and 1 . US$225,000 10.2 as set forth in the table included in Section B of the Schedule to this Agreement Upon delivery of Deliverables 2.1, 2.2, 7.1, 7.2, 7.3, 9.1, 2. US$365,000 9.2, 12.1, 12.2 and 12.3 as set forth in the table included in Section B of the Schedule to this Agreement Upon delivery of Deliverables 3.1, 6.1, 6.2, and 11.1 to 11.7 3. US$398,000 as set forth in the table included in Section B of the Schedule to this Agreement Upon delivery of Deliverables 8.1, 8.2, and 11.8 as set forth 4. US$119,000 in the table included in Section B of the Schedule to this Agreement (b) All payments to the Bank hereunder shall be made in full when due, upon submission of an invoice by the Bank. Payment shall be made, in United States Dollars, in immediately available funds, without any deductions whatsoever for taxes, duties, charges or other withholdings, and notwithstanding any pending dispute between the Parties, to such account as the Bank may from time to time designate in writing." 2. Section B of the Schedule to the RAS Agreement is hereby amended and replaced in its entirety to read as follows: "B. Timetable. Except as the Client and the Bank may otherwise agree, the Bank shall endeavor to perform the Reimbursable Advisory Services in accordance with the following tentative timetable: Deliverable Due Date 1.1: Operational Risk Methodology and Instrument 1.2: Reputational Risk Methodology and Instrument August 31, 2016 1.3: Group Risk Methodology and Instrument 1.4: Market Failure Risk Methodology and Instrument 2.1: Supervision Manual October31, 2016 2.2: Supervision Guidelines 3.1: Territorial Entities Consultations November 30, 2016 4.1: Supervision Framework March 31, 2017 4.2: Health Risk Guidelines 5.1: Consultations with Other Supervised Entities May 15, 2017 6.1: Dissemination Workshops 6.2: Seminar on Technical Reserves 6.3: Seminar on Insurance Pricing February 28, 2017 7.1: Full IFRS Training 7.2: SME IFRS Training October 31, 2016 7.3: Selected IFRS Topics Training 8.1: Calibration Exercise Report 8.2: Data Collection and Processing Report 9.1: Report on Accounting Gaps IFRS 9.2: RBS and IFRS Compatibility Report -3- Deliverable Due Date 10. 1: Jurisdictional Function Diagnosis ReportJue3,21 10.2: Diagnosis Workshops30, 2016 11. 1: Inter-institutional Protocols - 11.2: Litigation Action Plan 11.3: Jurisdictional Function Awareness Video and Booklet 11.4: Conciliation Protocols December 15, 2016 11.5: Resolution Protocol 11.6: Case Law Report 11.7: Performance Indicators 11.8: Jurisdictional Function Dissemination Workshop January 31, 2017 12.1: Public Policy Methodology 12.2: Litigation Data Report September 30, 2016 12.3: Litigation Data Report Training All other provisions of the RAS Agreement, except as amended herein, shall remain in full force and effect. This Amendment Letter shall be executed in two counterparts each of which shall be an original. Please confirm your agreement to the foregoing amendment by signing and dating the two counterparts of this Amendment Letter. Upon receipt by the Bank of one fully executed original of this Amendment Letter, this amendment shall become effective as of December 30, 2016. Very truly yours, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Issam A. Abousleiman Country Manager, Colombia Latin America and the Caribbean Region AGREED: NATIONAL HEALTH SUPERINTENDENCE OF THE REPUBLIC OF COLOMBIA Superintendencia Nacional de Salud de la Repziblica de Colombia By: , Z4' Z & Authorized Representative Name: SQ\C k-(i 'C\" 2-0 -O( 01" Title: CPc(e M(Aq ler\ef?L I Date: W & & iL C\ eoft(e 6-- 0 ZOI,