The conditions for exemption are stated in Article 5. There are two negative and two positive conditions to be satisfied for an agreement to be exempted from the application of Article 4.
For an agreement to be exempted, it should:

i. contribute to improving the production or distribution of goods and providing services or promoting technical or economic progress and

ii. allow consumers a fair share of the resulting benefit, and,

iii. should not eliminate competition in a substantial part of the relevant market and

iv. should not induce a restraint on competition that is more than is essential for the attainment of the positive conditions stated above.