Company: BPOPM
Filing Date: 2025-09-26
Form Type: S-8
Source: 0001193125-25-220405
Chunk: 3

Company: POPULAR, INC.
Filing Date: 2025-09-26
Form: S-8
Chunk 3
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 he acted in good faith and in a manner he reasonably believed to be in or not            
 opposed to the best interest of the Corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement,  
 conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best                   
 interests of the Corporation and, with respect to any criminal action or proceeding, had reasonable cause to believe that his conduct was unlawful.                                                                                                      |

| (2) | The Corporation shall indemnify any person who was or is a party or is threatened to be made a party to any                                                                                                                                              
 threatened, pending or completed action or suit by or in the right of the Corporation to procure a judgment in its favor by reason of the fact that he is or was a director, officer, employee or agent of the Corporation, or is or was serving at the  
 written request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees) actually and reasonably incurred by him in      
 connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Corporation, except that no indemnification shall be made in      
 respect of any claim, issue or matter as to which such person shall have been adjudged to be liable for negligence or misconduct in the performance of his duty to the Corporation unless and only to the extent that the court in which such action or  
 suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which such court shall deem 
 proper.                                                                                                                                                                                                                                                  |

| (3) | To the extent that a director, officer, employee or agent of the Corporation has been successful on the merits                                                                                                                                      
 or otherwise in defense of any action, suit or proceeding referred to in paragraph 1 or 2 of this Article TENTH, or in defense of any claim, issue or matter therein, he shall be indemnified against expenses (including attorneys’ fees) actually 
 and reasonably incurred by him in connection therewith