Company: BCDRF
Filing Date: 2025-04-04
Form Type: 6-K
Source: 0000950103-25-004384
Chunk: 22

Company: Banco Santander, S.A.
Filing Date: 2025-04-04
Form: 6-K
Chunk 22
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| (e) | To apply the measures and mechanisms that may be appropriate to compensate for the dilution effect, if                                 
 any, that may occur as a result of corporate transactions and shareholder distributions for so long as the shares are not delivered to 
 the executive directors; and, in the event that the maximum amount distributable in shares to be delivered to the executive directors  
 is exceeded, to authorise the deferral and payment of the excess in cash.                                                              |

| (f) | To extend the deferral period if so required in order to adapt to the applicable legal provisions in force                             
 at any given time or to the requirements of the competent authority, making such adjustments as may be necessary to adapt the Award to 
 the new deferral period.                                                                                                               |

| (g) | To approve, where applicable, the engagement of one or more internationally recognised third parties to                                      
 verify the achievement of the Multiyear Objectives. In particular, and merely by way of example, it may ask such third parties: to obtain,   
 from appropriate sources, the data upon which the calculations of TSR are to be based; to perform the calculations of the TSR of the Bank    
 and the TSRs of the entities within the Peer Group; to compare the Bank’s TSR with the TSRs of the entities within the Peer Group;           
 and to provide advice on the decision as to how to act in the event of unexpected changes in the Peer Group that may require adjustments     
 to the rules for comparison among them or on the amendment of the Peer Group in light of objective circumstances that justify such amendment 
 (like non-organic transactions or other extraordinary circumstances).                                                                        |

| (h) | To interpret the foregoing resolutions, with powers to adapt them, without affecting their basic content,                                       
 to the circumstances that may arise at any time, including, in particular, adapting the delivery mechanisms, without altering the maximum       
 number of shares linked to the Plan or the basic conditions upon which the delivery thereof is made contingent, which may include the           
 substitution of the delivery of shares with the delivery of equivalent amounts in cash, or the alteration of the mechanisms for net delivery    
 of shares in accordance with the procedures that are established for the payment of taxes, or when so required for regulatory, tax, operational 
 or contractual reasons. In addition, the board may adapt the aforementioned Plan (including the adjustment or removal of any metrics and        
 achievement scales for the Multiyear Objectives, the inclusion of additional targets for the delivery of any deferred amount of the Award