EXHIBIT 8 

Fourth Amended and Restated Engagement Letter

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 1 of 114
Execution Version

October 12, 2021

Financial Oversight and Management Board for Puerto Rico 

By Email Transmittal

Attention: Natalie A. Jaresko, Executive Director

Fourth Amended and Restated Engagement Letter between Citigroup Global Markets Inc. and the Financial 

Oversight and Management Board for Puerto Rico

Dear Sirs:

It is hereby agreed that this letter agreement (this "Agreement") shall serve as a fourth amended and restated 

agreement (the “Fourth Amended Agreement,” also referred to herein as “this Agreement”) that shall 

replace, in its entirety, but only upon its effective date, the agreement entered into between the Financial 

Oversight and Management Board for Puerto Rico (the "Board") and Citigroup Global Markets Inc. 

(together with its successors and permitted assigns, "Citi") on October 7, 2020 (the “Third Amended 

Agreement”), such Third Amended Agreement having replaced, in its entirety, the agreement entered into 

between the Board and Citi on February 13, 2019 (the “Second Amended Agreement”), such Second 

Amended Agreement having replaced, in its entirety, the agreement entered into between the Board and 

Citi on February 13, 2018 (the “First Amended Agreement”), such First Amended Agreement having 

replaced, in its entirety, the agreement entered into between the Board and Citi on January 27, 2017 (the 

"Original Agreement"). The effective date of this Fourth Amended Agreement shall be October 8, 2021.

Overview

Citigroup Global Markets Inc. is pleased to accept our continuing appointment by the Board, established 

under the Puerto Rico Oversight, Management, and Economic Stability Act, 48 U.S.C. Chapter 20 

("PROMESA"), to serve as investment banker and financial advisor to the Board in connection with the 

Board's statutory duties under PROMESA and its task of working with the people and government of Puerto 

Rico (the "Commonwealth") to create the necessary foundation for economic growth and to restore 

opportunity to the people of Puerto Rico, including working as the Board's exclusive strategic mergers and 

acquisition adviser to render certain strategic advisory and investment banking services related to the 

potential sale or restructuring of Puerto Rico Electric Power Authority (the "Company"). Citi welcomes the 

opportunity to bring our expertise in municipal finance, capital markets, restructuring (both in and out of 

court), infrastructure and utility finance, and mergers and acquisitions and strategic transactions advisory 

services to bear in assisting the Board in seeking to provide the Commonwealth with the necessary tools to 

restructure its debt, access the capital markets, consider certain potential strategic transactions related to the 

Company and get back on a path to economic recovery. The terms and conditions of Citi's continuing 

appointment are set forth in this Agreement. The term "Commonwealth" as used in this section shall include 

its "covered entities" (as defined below).

Scope of Services

In connection with this engagement, Citi will offer the services set forth below:

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 2 of 114
October 12, 2021

Page 2 of 113

1. Evaluate the Commonwealth's current fiscal situation, and interface with the Board and its other

professional advisors in connection therewith;

2. Review and evaluate the Commonwealth's capital structure and advise the Board on possible

restructuring strategies (including developing financing and debt issuance models and alternatives)

and in negotiating with the Commonwealth and the Commonwealth's creditors;

3. Advise the Board on the Commonwealth's ability to access the capital markets, including providing

advice on market strategy;

4. Undertake discussions on behalf of the Board with rating agencies, creditors, and other third parties

as requested by the Board;

5. Perform such other investment banking and financial advisory services as the Board may

reasonably request in connection with this engagement, including providing testimony in

connection with the services provided under this Agreement; and

6. Citi will perform such strategic advisory and investment banking services for the Board as are

customary and appropriate in identifying, evaluating and/or implementing various strategic or

financial alternatives for the Company (including advice on the structure, negotiation strategy,

valuation analyses, and other financial matters, and, along with the Company's other advisors, on

solutions that support grid resiliency and environmental sustainability) that the Board reasonably

requests (collectively, the "Services"). Such Services will include providing advice on the structure

and terms of a long-term concession agreement involving the Company's power transmission and

distribution assets as well as providing advice in connection with a potential "privatization"

involving the Company's power generation assets (each of which, for clarity, shall be deemed to

constitute a "Transaction," collectively "Transactions," as defined below).

In particular, Citi will perform such of the following strategic advisory and investment banking services as 

the Board may reasonably request:

a. Citi will familiarize itself to the extent it deems appropriate and feasible with the business,

operations, properties, financial condition and prospects of the Company (provided that the Board

shall remain responsible for conducting appropriate due diligence with respect to any Transaction

hereunder); and

b. Citi will perform such strategic advisory and investment banking services in connection with the

proposed Transaction as are customary and appropriate in transactions of this type (including

advice on the structure, negotiation strategy, valuation analyses, financial terms and other financial

matters). For purposes of this Agreement, "Transaction" means, whether in one or a series of

transactions, the sale, transfer or other disposition, directly or indirectly, of all or a significant

portion of the business, assets or securities of the Company, whether by way of a merger or

consolidation, reorganization, restructuring, negotiated purchase, leveraged buyout, minority

investment or partnership, collaborative venture or otherwise, long-term concession, lease

agreement or operating agreement or similar "privatization" transaction, or any other extraordinary

corporate transaction involving the Company.

c. The Services shall expressly exclude any advice or recommendations related to the issuance of

municipal bonds or any municipal financial products. All Services rendered hereunder will be

provided exclusively to the Board and not to the Company.

Moreover, Citi will not be responsible for setting the scope of or for reviewing the Company's or the Board's 

due diligence exercise but, will coordinate the Board's other advisers in carrying out such exercise, as 

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 3 of 114
October 12, 2021 

Page 3 of 113

requested by the Board. Furthermore, the Board will remain solely responsible for the commercial 

assumptions on which any strategic advice provided by Citi is based and for the decision to proceed with 

any Transaction. 

Fees 

The fees to Citi under this Agreement shall include the following: 

1. commencing on the date of the Original Agreement and continuing until, but excluding the effective

date of the Third Amended Agreement, a fixed monthly retainer of $250,000, payable monthly in

arrears (upon the submission of monthly invoices) , and, thereafter, until termination of this Fourth

Amended Agreement, a fixed monthly retainer of $900,000, payable monthly in arrears (upon the

submission of monthly invoices) (such retainer payments to be pro-rated for any partial month),

plus

2. [THIS PARAGRAPH 2 INTENTIONALLY OMITTED].

3. Commencing on the date of the First Amended Agreement and continuing until termination of this

Fourth Amended Agreement, in connection with the Services, an additional fixed monthly retainer

of $400,000 payable monthly in arrears (upon the submission of monthly invoices), plus

4. in connection with Services relating to Transactions for the Company, Citi shall be paid an

aggregate cash fee in the amount of $21.5 million, which amount is equal to the total fee payable

1

"Covered entities" are those identified by the Board in its list of` Initial covered entities subject to oversight 

under the PROMESA Act" posted on November 18, 2016 on the Board's website 

(https://juntasupervision.pr.gov/wp-content/uploaddwpfd/50/58345e7a9bd5a.pdf).

to Citi for such Transactions of $24 million less $2.5 million already paid under clause 3 above 

which the parties agree shall be credited against the total fee for Transactions, payable in the 

following manner: 

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 4 of 114
October 12, 2021

Page 4 of 113

(a) For the execution and implementation of the Puerto Rico Transmission and Distribution System

Operation and Maintenance Agreement by and among the Company, the Puerto Rico PublicPrivate Partnerships Authority, LUMA Energy LLC, and LUMA Energy ServCo LLC dated

as of June 22, 2020 relating to the transmission and distribution system of the Company, Citi

shall be paid the sum of $13,975,000 in cash, in two installments as follows: (i) the sum of

$9,083,750 shall be paid to Citi promptly upon entry of an order of the U.S. District Court for

the District of Puerto Rico administering the Company’s Title III case (the “Title III Court”)

allowing all accrued and unpaid “front-end transition” obligations of the Company to LUMA

Energy LLC, and LUMA Energy ServCo LLC as an administrative expense priority claim

under section 503 of the Bankruptcy Code; and (ii) the sum of $4,891,250 shall be paid to Citi

promptly upon the effective date of a plan of adjustment for the Company under Title III of

PROMESA. For the avoidance of doubt and notwithstanding anything to the contrary

contained in this Fourth Amended Agreement, payment of the foregoing fees shall be subject

to allowance thereof by the Title III court in accordance with the requirements of PROMESA

and applicable orders of the Title III Court regarding compensation and reimbursement of

professionals, but the payment of such fees shall not be (I) subject to or conditioned upon any

other court order or approvals other than as set forth in this subsection (a), or (II) delayed by

any potential or pending court proceedings related to the Transactions.

(b) For a Transaction or Transactions relating to the electric power generation assets of the

Company (each, a “Generation Transaction”), Citi shall be paid the sum of $7,525,000, which

amount shall be allocated to each Generation Transaction on a pro rata basis, based on the

proportion of the generation capacity of the assets subject to each Generation Transaction to

the generation capacity of all of the Company’s power generation assets, calculated based on

generation capacity as of a date to be agreed to by the parties in good faith. Such fees shall be

payable for each Generation Transaction upon the later to occur of (i) the “Consummation” of

such Generation Transaction, and (ii) entry of any final, non-appealable order(s) of the Title III

Court required for the Consummation of such Generation Transaction, as applicable, under the

provisions of PROMESA and/or the definitive documents with respect to such Generation

Transaction(s). For the purposes of this subsection (b), “Consummation” shall mean (A) the

effective date of any sale of the Company’s power generation assets, or (B) the assumption of

control over the maintenance and operation of any of the Company’s power generation assets

under any management agreement, concession agreement, or similar Transaction. For the

avoidance of doubt and notwithstanding anything to the contrary contained in this Fourth

Amended Agreement, if the fee described in this subsection (b) becomes payable prior to the

effective date of a Title III plan of adjustment for the Company, payment thereof shall be

subject to allowance by the Title III court in accordance with the requirements of PROMESA

and applicable orders of the Title III Court regarding compensation and reimbursement of

professionals.

Notwithstanding anything to the contrary herein, payment of fees (including retainer and success fees) and 

expenses hereunder is subject to (1) in the case of fees payable under clauses 2 and 4, issuance of a final, 

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 5 of 114
October 12, 2021

Page 5 of 113

non-appealable and unconditional order of the court (whether under Title III or Title VI of PROMESA, as 

applicable) approving the Transaction giving rise to such fee and (2) in the case of fees payable under 

clauses 1 and 3, as well as expenses payable hereunder, compliance with the court order setting procedures 

for interim compensation and reimbursement of professionals, to the extent applicable.

Expenses

The Board agrees to reimburse Citi, upon request, for all our reasonable, documented out-of-pocket 

expenses directly related to this Agreement (commencing on the date of the Original Agreement) including 

but not limited to reasonable fees and expenses of a single outside counsel to Citi on a monthly basis, upon 

submission to the Board of an invoice or invoices. Such reimbursement of direct expenses shall be subject 

to an annual aggregate cap (commencing on the date of the Original Agreement, but except for expenses 

pursuant to Indemnification hereunder and legal expenses related to Citi's outside counsel) of $375,000 (the 

"Annual Cap"), subject to modification by mutual agreement of the parties hereto. For clarification, any 

expenses relating to the Transaction outside of Citi's direct Services provided herein (e.g. dataroom 

providers, potential site visit travel and logistics, etc.) shall not be subject to the Annual Cap and shall be 

accrued to the Board or the Company, as appropriate. If for any reason Citi's reasonable and approved 

expenses might exceed the Annual Cap, the Board agrees to consider increasing the Annual Cap to an 

appropriate level, based on information provided by Citi.

Conditions

This Agreement is not a commitment, express or implied, on the part of Citi to underwrite or purchase any 

securities or to commit any capital, nor does it obligate us to enter into an underwriting agreement, dealer 

manager agreement or similar commitment. Citi's participation in any financing transaction will be subject 

to, among other things, (i) satisfactory completion of all documentation for the transaction (including, but 

not limited to, one or more disclosure documents and a dealer manager agreement, other documents 

necessary to the consummation of a tender or exchange offer); (ii) satisfactory completion of a customary 

due diligence review; (iii) in our determination, the absence of any material adverse change in the financial 

markets or in the financial condition, operations or prospects of the issuer, taking into account their current 

financial condition; (iv) receipt of all required governmental and other approvals and appropriate legal 

opinions, including a 10b-5 disclosure opinion delivered by counsel acceptable to the issuer and otherwise 

in form and substance acceptable to Citi and its counsel and (v) approval of our internal credit and 

commitment committees.

Use of Information

The Board recognizes and confirms that Citi in acting pursuant to this engagement will be using publicly 

available information and information in reports and other materials provided by others, including, without 

limitation, information provided by or on behalf of the Company and/or the Board, and that Citi does not 

assume responsibility, for and may rely, without independent verification, on the accuracy and 

completeness of any such information. The Board agrees to use reasonable best efforts to cause the 

Company to warrant that any information related to the Company, or its affiliates, or the Transaction that 

is furnished to Citi by or on behalf of the Company will be true and correct in all material respects and not 

misleading by omission or otherwise and that every statement of opinion, intention or expectation therein 

will be honestly held. The Board agrees that any information or advice (other than any information or advice 

relating to the U.S. tax treatment and U.S. tax structure of any Transaction) rendered by Citi or any of its 

representatives in connection with this engagement is for the confidential use of the Board only in its 

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 6 of 114
October 12, 2021

Page 6 of 113

evaluation of a Transaction and the Board will not, and will not permit any third party to, use it for any 

other purpose or disclose or otherwise refer to such advice or information, or to Citi, in any manner without 

Citi's prior written consent.

Certain Acknowledgments

In connection with the Services, the Board acknowledges that Citi has been retained hereunder solely as a 

financial adviser to the Board, and not as an adviser to or agent of any other party, and that the Board's 

engagement of Citi is as an independent contractor and not in any other capacity including as a fiduciary. 

Citi may, to the extent it deems appropriate, render the Services hereunder through one or more of its 

affiliates. Any duties that arise out of this agreement or Citi's engagement will be owed solely to the Board, 

and neither this engagement, nor the delivery of any advice in connection with this engagement, is intended 

to confer rights upon any other parties (including security holders, employees or creditors of the Board) as

against Citi or its affiliates or their respective directors, officers, agents and employees. Citi may, after 

public announcement of a Transaction and at its own expense, place announcements or advertisements in 

financial newspapers, journals and marketing materials describing Citi's services hereunder.

The Board understands that Citigroup Global Markets Inc. and its affiliates (together, the "Group") are 

engaged in a wide range of financial services and businesses (including investment management, financing, 

securities trading, corporate and investment banking and research). In recognition of the foregoing, the 

Board agrees that the Group is not required to restrict its activities as a result of this engagement, and that 

the Group may undertake any business activity without further consultation with or notification to the 

Board, except as specifically set forth in the “No Conflict of Interest” section of this Agreement. Subject to 

the last sentence of this paragraph, neither this Agreement, the receipt by the Group of confidential 

information nor any other matter shall give rise to any fiduciary, equitable or contractual duties (including 

without limitation any duty of trust or confidence) that would prevent or restrict the Group from acting on 

behalf of other customers or for its own account. Furthermore, the Board agrees that neither the Group nor 

any member or business of the Group (other than Citi as specifically set forth in the “No Conflict of Interest” 

section of this Agreement) is under a duty to disclose to the Board or use on behalf of the Board any 

information whatsoever about or derived from those activities or to account for any revenue or profits 

obtained in connection with such activities. However, consistent with the Group's long-standing policy to 

hold in confidence the affairs of its customers and the obligations imposed by its own policies and 

procedures, the Group will not use confidential information obtained from the Board except in connection 

with its services to, and its relationship with, the Board.

The Board and Citi acknowledge that all of the services to be performed by Citi under this Agreement are 

solely for or on behalf of the Board. Neither the Commonwealth nor any of its covered entities shall be a 

client or recipient of direct or indirect advice of Citi under this Agreement. It is Citi's understanding that 

the Board does not constitute a "municipal entity" or "obligated person" as such terms are defined under 

the Securities and Exchange Commission's Municipal Advisor Rule (the "MA Rule"). As such, it is Citi's 

understanding that Citi is not acting as a "municipal advisor" (as defined in the MA Rule) or fiduciary to 

the Board or any other party hereunder. The Board agrees to notify Citi if it becomes aware of a change in 

its status that could result in it being considered a municipal entity, obligated person or an issuer of 

municipal securities. Furthermore, the Board agrees that it is solely responsible for making its own 

judgments in connection with any particular transaction that it seeks to undertake or any advice it wishes 

to convey to the Commonwealth or its covered entities.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 7 of 114
October 12, 2021

Page 7 of 113

The Board acknowledges that Citi is required to obtain, verify and record certain information that identifies 

each entity that enters into a formal business relationship with Citi and that Citi will ask for the Board's 

complete name, street address, and taxpayer ID number. Citi may also request corporate formation 

documents, or other forms of identification, to verify information provided.

The Board acknowledges that communications between the parties may involve the use of email or other 

electronic means of communication and that such electronic communications are not secure or virus or error 

free and could be intercepted, corrupted, lost, destroyed or arrive late. The Board agrees that Citi and any 

of its affiliates may monitor, record and retain communications between Citi and the Board.

No Conflict of Interest

1. In General. The Board understands that the Group is engaged in a wide range of financial services and 

businesses (including investment management, financing, securities trading, corporate and investment 

banking and research). Members of the Group and businesses within the Group generally act 

independently of each other, both for their own respective accounts and for the accounts of clients. 

Accordingly, there may be situations where parts of the Group and/or their clients either now have or 

may in the future have interests or take actions that may conflict with the interests of the Commonwealth 

and its covered entities. For example, the Group may, in the ordinary course of business, engage in 

trading in financial products or undertake other investment businesses for its own account or on behalf 

of other clients, including, but not limited to, trading in or holding long, short or derivative positions in 

securities, loans or other financial products of the Commonwealth and its covered entities, Interested 

Parties (or persons associated with Interested Parties) and any other entities involved in the restructuring 

of the Commonwealth's debt. 

While the Board recognizes the complexity of the various businesses that the Group engages in, it is 

the expectation of the Board that Citi shall exercise best efforts to ensure that Citi advises the Board of 

any activities that the Group has or may engage in that, in Citi’s view, may represent a conflict of 

interest with the interests of the Board. Neither this Agreement nor the receipt by Citi of confidential 

information nor any other matter shall give rise to any fiduciary, equitable or contractual duties 

(including without limitation any duty of trust or confidence) that would prevent or restrict the Group 

from acting on behalf of other customers or for its own account. Consistent with the Group's longstanding policy to hold in confidence the affairs of its customers, the Group will not use confidential 

information obtained from the Board except in connection with its services to, and its relationship with, 

the Board. 

The Board acknowledges that the Contractor has provided disclosures to the Board regarding, among 

other things, the firm’s (i) Information Barrier that separates the Private Side (on which Citi’s Service 

Team resides) from the Public Side (e.g., Trading) and (ii) Conflicts of Interest Management 

Framework that enables Citi to identify, manage, mitigate, monitor and escalate or report conflicts that 

can arise from time to time with clients, customers and counterparties. 

2. Upon Signing of Fourth Amended Agreement and Semi-Annually Thereafter. Beginning on the effective 

date of this Fourth Amended Agreement, Citi, on behalf of itself and its Material Affiliates and direct 

and indirect subsidiaries, shall make the Contractor Conflict of Interest Certifications set forth in 

Appendix C hereto and shall thereafter make similar Citi Conflict of Interest Certifications periodically 

as of every July 1st and January 1st of each year of service under this Agreement. In the event Citi or 

any of its Material Affiliates or direct or indirect subsidiaries is a publicly reporting entity and files 

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 8 of 114
October 12, 2021

Page 8 of 113

public conflict of interest bearing information with a regulator or similar body (e.g., Securities and 

Exchange Form ADV for Investment Advisors), Citi shall share such filings with the Board upon 

request. Finally, it is of paramount importance to the Board that Citi disclose to the Board any 

investments by Citi as principal for its own account in Puerto Rico public debt instruments issued by 

any Interested Party that is a Puerto Rico governmental instrumentality, but not including positions held 

in the ordinary course of business, including while engaged in trading in financial products or 

undertaking other investment businesses for its own account or on behalf of other clients, including, 

but not limited to, trading in or holding long, short or derivative positions in securities, loans or other 

financial products of the Commonwealth and its covered entities, Interested Parties (or and any person 

associated with any Interested Party), or other entities involved in the restructuring of the 

Commonwealth's debt. While such investments may not always constitute a potential or actual conflict 

of interest, the Board requires such disclosure to ascertain whether or not such an investment could, in 

the Board’s view, represent a conflict of interest and/or require other action or remediation. Citi 

represents that, as of the date of execution of this Fourth Amended Agreement, Citi’s only direct or 

indirect investment covered by this disclosure obligation is a holding of COFINA Bonds that are 

insured by Berkshire Hathaway in an available-for-sale portfolio. These COFINA Bonds were issued 

to Citi as a result of the February 2019 COFINA Title III Court Confirmation Order in connection with 

cancellation of prior COFINA bonds purchased by Citibank, NA in the initial underwriting of a bond 

issue in 2007. In addition, Citi notes that it holds a non-controlling position in Mental Health 

Infrastructure Revenue Bonds, 2007 Series A (the “MEPSI Bonds”) issued under that certain Trust 

Agreement, dated October 1, 2007, between Puerto Rico Infrastructure Financing Authority (which is 

supported by the Puerto Rico Fiscal Agency & Financial Advisory Authority) and the Trustee. 

Although the Citi’s position in the MEPSI Bonds is held by a “public side” trading desk in noninvestment account, the Contractor and the Board have mutually agreed that the Contractor will not act

as an advisor to the Board in connection with any restructuring of the MEPSI Bonds, and the Board 

acknowledges that it has agreed to seek advice from PJT in connection with any such restructuring of 

the MEPSI Bonds. 

The Board acknowledges that it previously received from Citi a CUSIP-by-CUSIP disclosure of bonds 

of the Commonwealth, the Puerto Rico Public Building Authority and other guaranteed, appropriation 

and “claw back” bonds issued by Covered Entities for which Citi served as a manager of new issue 

underwritings and a CUSIP-by-CUSIP disclosure of bonds of the Company for which Citi served as a 

manager of new issue underwritings. As disclosed by Citi to the Board in Citi’s original December 

2016 response to the Board’s request for proposals for investment banking and advisory services, Citi 

also notes that the “public side” sales and trading desks at Citi continue to make markets in outstanding 

bonds issued by the Commonwealth and its covered entities. The “public side” of Citi may also provide 

financing to holders of the newly restructured COFINA bonds. 

3. During the Term of this Agreement. Beginning on the effective date of this Fourth Amended 

Agreement, during the term of this Agreement, Citi shall not accept work, enter into a contract, or 

accept an obligation from any third party that would prevent Citi from fulfilling its obligations to the 

Board, or performing the Services, in each case, under this Agreement. Citi shall not take actions 

during the term of this Agreement that would, in Citi’s view, constitute a conflict of interest with the 

Services performed pursuant to this Agreement by the Citi for the Board. Citi represents that Citi’s 

performance of all the Services under this Agreement does not breach any agreement or obligation of 

any kind made prior to the execution of this Agreement, including any noncompete agreement. Citi 

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 9 of 114
October 12, 2021

Page 9 of 113

represents that it shall not enter into any agreement either written or oral that would prevent Citi from 

performing the Services contemplated by this Agreement. Beginning on the effective date of this 

Fourth Amended Agreement, during the term of this Agreement, Citi shall inform the Board, in a 

proactive manner and as soon as reasonably practicable, of any new or ongoing activity or assignment 

of Citi (or any of its Material Affiliates and direct and indirect subsidiaries) arising in the ordinary 

course of its work that, in Citi’s view, may be an actual or potential conflict of interest.

4. Other. From time to time, the Board may request that Citi explain in detail what its conflict of interest 

policy and conflict mitigation procedures are and it shall be the responsibility of Citi to explain in 

appropriate and relevant detail to the Board why something that may appear to be a conflict of interest 

is not an actual or potential conflict of interest or appearance of a conflict of interest. The Board will 

be the final arbiter of whether a particular set of facts presents a Citi conflict of interest. 

5. Compliance with Laws, Regulations, and Contractor Code of Conduct. While providing the Services 

contemplated by this Agreement for the Board, Citi shall comply with all laws, rules and regulations 

applicable to it in connection with the engagement contemplated by this Agreement. Citi acknowledges 

that it has been provided with a copy of the Contractor Code of Conduct and its Contractor Code of 

Conduct Disclosure Certification (attached as Appendix B and Appendix C hereto).

Indemnification

The Board agrees to indemnify and hold harmless the "indemnified parties" as provided in Appendix A 

attached hereto, the terms of which are incorporated into this Agreement in their entirety.

Governing Law

This Agreement is governed by the laws of the State of New York without regard to conflicts of law 

principles and will be binding upon and inure to the benefit of the Board and Citi and their respective 

successors and assigns. Any suit action, or proceeding brought in connection with this Agreement shall be 

brought exclusively in the Federal Courts of the Commonwealth of Puerto Rico, San Juan, Puerto Rico, and 

the parties hereby irrevocably consent to the exclusive jurisdiction of such court in any proceeding arising 

out of or relating to this Agreement and agree not to commence any suit, action, or proceeding relating 

thereto except in such court, and waive, to the fullest extent permitted by law, the right to move to dismiss 

or transfer any suit, action or proceedings brought in such court on the basis of any objections as to venue 

or inconvenient forum or on the basis of any objection to personal jurisdiction.

The Board and Citi agree to waive trial by jury in any action, proceeding or counterclaim brought by or on 

behalf of either party with respect to any matter whatsoever relating to or arising out of any actual or 

proposed transaction or the engagement of or performance by Citi of its services hereunder.

Termination

Except in connection with the Services, this Agreement shall be effective as of the date of the Original 

Agreement and may only be terminated by a party hereto with 30 days' notice to the non- terminating party, 

except as noted, below; provided that if the Board terminates this Agreement for any reason other than 

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 10 of 114
October 12, 2021

Page 10 of 113

those set forth in the next paragraph, the Board shall pay to Citi, in lieu of any other fees or expenses 

otherwise provided under this Agreement, an amount equal to $3.6 million in addition to any amounts 

otherwise owed under this Agreement through the date of such termination. The provisions of this 

paragraph and the provisions set forth under the captions "Certain Acknowledgments," "Indemnification," 

and "Governing Law" shall survive any termination of this Agreement.

Citi's willful misconduct in fulfilling, and/or its negligent discharge or abandonment of, the duties assigned 

hereunder shall constitute a breach of this Agreement and the Board will be entitled to terminate this 

Agreement forthwith, without having to comply with the requirements of notice set forth above, without 

limitation of any other rights and remedies under law and will release and discharge the Board from any 

further obligations and liabilities hereunder.

Notwithstanding the foregoing, in connection with the Services, the Board and Citi acknowledge that Citi 

commenced providing services to the Board on February 13, 2018 and that the terms of this Agreement 

applicable to the Services shall be deemed to have applied since this date. Each of Citi and the Board agree 

that the terms of this Fourth Amended Agreement will continue to apply until June 30, 2023, unless 

extended by mutual written consent or earlier terminated as provided below. Either the Board or Citi may 

terminate this Agreement at any time, with or without cause, by giving written notice to the other party; 

provided, however, that no such expiration or termination will affect the matters set out in this paragraph 

or under the captions "Use of Information," "Certain Acknowledgments," "Indemnity" and "Other." It is 

expressly agreed that following the expiration or termination of this Agreement, Citi will continue to be 

entitled to receive fees as described above that have accrued prior to such expiration or termination but are 

unpaid, as well as reimbursement for expenses as contemplated above. It is also expressly agreed that, if a 

Transaction is consummated within 24 months after the date of expiration or termination of this agreement 

or if a definitive agreement that results in a Transaction is entered into during the term of this agreement or 

within such period, Citi shall be entitled to its full fees as described above.

Other

The Board acknowledges that it is not relying on the advice of Citi for tax, legal or accounting matters, it 

is seeking and will rely on the advice of its own professionals and advisors for such matters and it will make 

an independent analysis and decision regarding any financing or restructuring transaction based upon such 

advice.

This Agreement shall not be assignable without the prior written consent of the other party (and any 

purported assignment without such consent shall be null and void), is intended to be solely for the benefit 

of the parties hereto and is not intended to confer any benefits upon, or create any rights in favor of, any 

person other than the parties hereto. This Agreement may not be amended or waived except by an 

instrument in writing signed by each of the parties hereto. This Agreement may be executed in any number 

of counterparts, each of which shall be an original, and all of which, when taken together, shall constitute 

one agreement. Delivery of an executed signature page of this Agreement by facsimile or electronic mail 

transmission shall be effective as delivery of manually executed counterpart hereof. This Agreement is the 

only Agreement that has been entered into among us with respect to the services to be provided hereunder 

and set forth the entire understanding of the parties with respect thereto.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 11 of 114
October 12, 2021

Page 11 of 113

[SIGNATURE PAGE FOLLOWS]

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 12 of 114

October 12, 2021

Page 13 of 113

APPENDIX A

INDEMNIFICATION

In connection with the engagement of Citi to assist the Board as described in the Agreement to which this 

Appendix is attached, including modifications or future additions to such engagement and related activities 

prior to the date of the Original Agreement (the "Engagement"), the Board agrees that it will indemnify and 

hold harmless Citi and its affiliates and their respective directors, officers, agents and employees and each 

other person controlling Citi or any of its affiliates (each, an "indemnified party"), to the full extent lawful, 

from and against any losses, expenses, claims or liabilities (collectively, "losses") which any indemnified 

party may incur or become subject to (i) related to or arising out of (A) the contents of oral or written 

information provided by the Board or its employees or its other agents, which information either the Board 

or Citi provide to any actual or potential buyers, sellers, investors or offerees, or (B) any other action or 

failure to act by the Board, its employees or its other agents or by Citi or any indemnified party in 

accordance with and at the Board's request or with the Board's express written consent, or (ii) otherwise 

related to or arising out of the Engagement, except that clauses (i) and (ii) shall not apply with respect to 

any losses to the extent such losses are finally judicially determined to have resulted from the gross 

negligence or willful misconduct of such indemnified party or result from a claim brought by the Board 

against an indemnified party for breach of such indemnified party's obligations hereunder, if the Board has 

obtained a final and non-appealable judgment in its favor on such claim as determined by a court of 

competent jurisdiction ("uncovered losses"), The Board further agrees that no indemnified party shall have 

any liability (whether direct or indirect, in contract or tort or otherwise) to the Board or any of the 

Commonwealth's creditors or security holders for or in connection with the Engagement or any actual or 

proposed transaction relating to the Agreement involving Citi or other conduct in connection therewith 

except for losses incurred by the Board to the extent such losses are finally judicially determined to have 

resulted from the gross negligence or willful misconduct of such indemnified party; provided, however, 

that the foregoing shall in no manner relieve or excuse Citi from any liability arising from any breach by 

Citi of the Agreement.

The Board will also promptly reimburse each indemnified party for all reasonable and documented 

expenses (including reasonable fees and expenses of outside counsel, which shall be limited to the fees and 

expenses of one counsel in each relevant jurisdiction) as they are incurred by such indemnified party in 

connection with investigating, preparing for, defending, or providing evidence in, any pending or threatened 

claim or proceeding in respect of which indemnification or contribution may be sought hereunder (whether 

or not Citi or any indemnified party is a party to such claim or proceeding) or in enforcing this Appendix.

The foregoing provisions are in addition to any rights any indemnified party may have at common law or 

otherwise and shall be binding on and inure to the benefit of any successors, assigns, and personal 

representatives of the Board and each indemnified party. ANY RIGHT TO TRIAL BY JURY WITH 

RESPECT TO ANY CLAIM OR PROCEEDING ARISING HEREUNDER IS WAIVED.

The provisions of this Appendix shall remain in full force and effect notwithstanding (i) any investigation 

made by or on behalf of Citi or (ii) the completion or termination of the Engagement.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 14 of 114
October 12, 2021

Page 14 of 113

APPENDIX B

CONTRACTORCONTRACTOR CODE OF CONDUCT

The Financial Oversight and Management Board for Puerto Rico (the “Board”) is committed to 

ethical and lawful behavior, and to acting professionally and fairly in all of its business dealings 

and relationships. The Board seeks to maintain high ethical standards and to comply with all 

applicable laws and regulations. The Board expects its contractors, consultants, and representatives 

to embrace this commitment to ethical and lawful behavior by complying with and training its 

employees on the Board’s Contractor Code of Conduct. The Board also expects its contractors to 

have their own codes of conduct that ensure ethical business conduct and practices.

I. Compliance with the Contractor Code of Conduct

All contractors, consultants, and representatives and their employees, agents, and subcontractors 

(collectively referred to as “Contractors”) must adhere to this Code of Conduct while conducting 

business with or on behalf of the Board. Contractors must promptly inform the Executive Director, 

the General Counsel, or a member of the Board when any situation develops that causes, or may 

cause, the Contractor to violate any provision of this Code of Conduct. Although Contractors are 

expected to self-monitor and demonstrate their compliance with this Code of Conduct, the Board 

may audit Contractors and/or inspect Contractors’ facilities and records to confirm compliance.

 

The Board may require the immediate removal from any project or engagement of any contractor 

representative(s) or personnel who behave in a manner that is unlawful or inconsistent with this 

Code of Conduct or any Board policy. Compliance with this Code of Conduct, as well as 

attendance at any training on this Code of Conduct as may be offered by the Board, is required in 

addition to any other contractual obligations a contractor may have to the Board.

II. Legal and Regulatory Compliance Practices

Contractors must conduct their business activities on behalf of the Board in full compliance with 

the letter and spirit of all applicable laws and regulations. 

 Anti-Corruption. The Board takes a zero-tolerance approach to bribery and corruption, 

and it requires its Contractors to do the same. Contractors must not participate in bribes or 

kickbacks of any kind, whether in dealings with the Board, government and public 

officials, or individuals in the private sector. Contractors must also comply with all 

applicable anti-corruption and anti-money laundering laws, as well as laws governing gifts 

and payments to public officials, political campaign contribution and lobbying laws, and 

other related regulations. In particular, Contractors must not:

o Offer, promise, or allow anything of value (including travel, gifts, hospitality 

expenses, and charitable donations) to be given on behalf of the Board to influence 

a business or government decision, gain an improper advantage, or otherwise 

improperly promote the interests of the Board in any respect;

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 15 of 114
October 12, 2021

Page 15 of 113

o Offer, promise, or allow anything of value to be given to a Board member or 

employee to influence a Board decision or otherwise gain an improper advantage; 

or

o Ask for or accept anything of value which the Contractor knows or suspects is 

being offered to influence a Board decision or otherwise obtain an improper 

advantage in connection with the Contractor’s work with or on behalf of the Board.

 Antitrust/Fair Business Practices. Contractors must conduct their business in full 

compliance with antitrust and fair competition laws that govern the jurisdictions in which 

they conduct business. Contractors must also uphold all standards of fair dealing and abide 

by all fair business practices, including truthful and accurate advertising.

 Trade. Contractors shall comply with all applicable trade controls, as well as any 

applicable export, re-export, and import laws and regulations. Contractors must not 

knowingly employ or do business with anyone reasonably suspected of being connected 

with criminal or terrorist activities or who is otherwise subject to applicable trade sanctions.

 Freedom from Unlawful Harassment and Discrimination. Contractors shall provide a 

workplace free from harassment and/or discrimination in hiring, compensation, access to 

training, promotion, termination, and/or retirement on the basis of race, color, creed, 

religion, sex, gender identity or expression, sexual orientation, pregnancy, status as a 

parent, age, marital status, national origin, ancestry, citizenship status, physical or mental 

disability or serious medical condition, protected genetic information, political beliefs, 

status as a veteran, or any other characteristic protected by law. Contractors shall further 

prohibit any form of reprisal or retaliation against any employee for reporting harassment 

or discrimination in good faith or for participating in good faith in a harassment or 

discrimination investigation. 

 Wages, Benefits and Working Hours. Contractors must comply with local applicable 

laws regarding wages, overtime hours and mandated benefits. Contractors must also 

communicate with workers about compensation, including any overtime pay, in a timely 

and honest manner.

 Freely Chosen Employment. No Contractor shall use any form of indentured, slave, or 

forced labor, including involuntary prison labor. Contractors are also prohibited from 

supporting or engaging in any form of human trafficking of involuntary labor through 

threat, force, fraudulent claims, or other coercion.

 Child Labor. Contractors shall comply with all local and national minimum working age 

laws or regulations and not use child labor. All employees shall be age 18 and over unless: 

(i) a country’s legal age for employment or age for completing compulsory education is 

under 18; and (ii) the work is non-hazardous.

III. Business Practices and Ethics

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 16 of 114
October 12, 2021

Page 16 of 113

Contractors must conduct their business interactions and activities with integrity. 

 Honesty and Integrity. Contractors must at all times be honest, direct, and truthful in 

discussions with the Board, its staff and agents, regulatory agency representatives, and 

government officials.

 Business and Financial Records. The Board expects Contractors to timely, honestly, and 

accurately record and report all business information, including without limitation any 

invoices for payment, and comply with all applicable laws regarding their creation, 

completion, accuracy, retention, and disposal. All invoices must be (i) timely submitted, 

(ii) itemized, (iii) supported by appropriate documentation, and (iv) must comply with all 

other requirements as set out in the relevant contract(s). 

 Conflict of Interest. Contractors shall scrupulously avoid any conflict, real or perceived, 

direct or indirect, between their own individual, professional, or business interests and the 

interests of the Board. Among other things, Contractors must not deal directly with any 

Board member or ex officio member or employee whose spouse, domestic partner, or other 

family member or relative is associated with and/or holds any ownership or other financial 

interest in the contractor. In the course of negotiating the contractor agreement or 

performing the contractor’s obligations, dealing directly with a contractor personnel’s 

spouse, domestic partner, or other family member or relative employed by the Board is 

also prohibited. Complying with this requirement includes, but is not limited to, each 

contractor’s completion of the Contractor Conflict of Interest Disclosure Certification 

attached as Appendix C hereto.

 Gifts and Entertainment. Contractors should avoid any actions with Board members or 

ex officio members or employees during any contractor selection or re-selection process 

that could give others the impression of favoritism or other improper advantage. 

Furthermore, Contractors should not offer, and Board members, ex officio members, and 

employees must not accept, gifts or entertainment that might compromise, or appear to 

compromise, the Board member or employee’s judgment or independence. Even a wellintentioned gift might constitute or be perceived to be a bribe under certain circumstances 

or create a conflict of interest or the appearance of a conflict of interest. Board employees 

are required to conduct all business and interactions with Contractors in strict compliance 

with the applicable provisions of the Board’s business ethics and conflict of interest 

policies.

 Confidentiality, Privacy and Data Security. Contractors shall, at all times while they 

are engaged by the Board and thereafter, (i) hold all proprietary and confidential 

information of the Board in strictest confidence, (ii) not use or disclose for any purpose 

any proprietary and confidential information of the Board to any person, business or entity, 

except as specifically authorized in writing by the Board, and (iii) not disclose for any 

purpose any non-public information concerning their retention by the Board or their 

services for the Board, except as specifically authorized in writing by the Board; provided, 

that, Contractor may to disclose the Board’s proprietary and confidential information only 

(a) to its Representatives (as defined herein) who need to know the confidential information 

in connection with the Services and/or any Transaction, (b) to Contractor’s regulators or 

examiners, and (c) to defend itself in connection with a legal proceeding regarding the 

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 17 of 114
October 12, 2021

Page 17 of 113

performance of the Services and/or any Transaction. In the event that, other than as set 

forth in the immediately preceding sentence, the Contractor or its Representatives is 

requested or required by law, regulation, supervisory authority or other applicable judicial 

or governmental order to disclose any confidential information, it will, to the extent 

permitted, provide the Board with prompt notice of such request or requirement so that 

Board may seek an appropriate protective order. If, failing the entry of a protective order, 

the Contractor is, in the advice of its counsel, required to disclose confidential information, 

then the Contractor may disclose that portion of the confidential information and will 

cooperate with the Board, at Board’s expense, in the Board’s efforts to obtain a protective 

order or other reliable assurance that only the designated portion of the confidential 

information will be disclosed. Contractors shall abide by all Board requirements and 

procedures for protecting the proprietary and confidential information of the Board, 

including signing and abiding by the Board’s confidentiality agreements. Contractors who 

handle proprietary and confidential information on behalf of the Board or belonging to the 

Board must apply and maintain sufficient privacy and information security safeguards. 

Contractors shall also be subject to an information and data security assessment. 

Notwithstanding the foregoing, to the extent of any conflict between this provision and the 

terms of any confidentiality agreement entered into between the Board and Contractor 

(“Confidentiality Agreement”), the terms of the terms of the Confidentiality Agreement 

shall control. For purposes of this provision, (i) “Services” and “Transaction” shall have 

the meaning ascribed to such terms in the Second Amended and Restated Engagement 

Letter between Citigroup Global Markets Inc. and the Board, dated February 16, 2019, and 

(ii) the Board’s proprietary and confidential information excludes information that (a) was 

or becomes generally available to the public other than as a result of a disclosure in breach 

of this provision by the Contractor affiliates, or their employees, officers, directors, 

representatives and financial and legal advisors (collectively, “Representatives”), (b) was 

or becomes independently provided to the Contractor by a third party who was not known 

by the Contractor to be subject to an obligation of confidentiality or otherwise prohibited 

from transmitting such information, (c) was in the Contractor’s possession prior to the 

receipt thereof from the Board or (d) was independently developed by, or for, the 

Contractor without reference to the confidential information.

 Media. Contractors are prohibited from speaking to the press or making any public 

statements, oral or written, concerning their work for or on behalf of the Board without the 

express written authorization of the Board.

 Reporting Concerns. Contractors shall maintain a hotline or other reporting system for 

their workers to confidentially and anonymously report any information or concerns about 

suspected non-compliance or violations of law or improper conduct by any contractor 

employee or agent without threat of reprisal, intimidation or harassment. If concerns are 

reported, Contractors shall promptly and thoroughly investigate any such report and take 

corrective action as necessary and appropriate.

[Signature Page Follows]

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 18 of 114

October 12, 2021

Page 19 of 113

APPENDIX C

CONTRACTOR CONFLICT OF INTEREST DISCLOSURE CERTIFICATION

All contractors, consultants, and or experts (“Contractors”) interested in conducting business with the 

Financial Oversight and Management Board for Puerto Rico (the “Board”) must complete and return this 

Contractor Conflict of Interest Disclosure Form to be eligible for a contract award. Disclosing a potential 

conflict of interest will not automatically disqualify the Contractor. The potential conflict of interest will 

be investigated to determine whether it precludes the contract award. In the event, however, that the 

Contractor does not disclose potential conflicts of interest and they are discovered by the Board, the 

Contractor will be barred from doing business with the Board.

Please note that all Contractors must comply with the Board’s Contractor Code of Conduct as stated within 

the certification section below.

No Conflict of Interest: Except as otherwise fully disclosed below (attach additional pages as needed), 

the Contractor affirms, on behalf of itself, its Material Affiliates and its direct and indirect subsidiaries, to 

the best of its knowledge, information and belief, that no Interested Party (as defined in Schedule A hereto), 

nor any person associated with any Interested Party, is an employee, Director or Trustee, Officer or 

consultant to/of, or has any financial interest, direct or indirect, in the Contractor, or has received or will 

receive any financial benefit, directly or indirectly, from the Contractor or from the contract associated with 

this certification. 

For the purposes of this certification, “associated” persons include: a spouse, domestic partner, child, parent 

or sibling of an Interested Party; a person with whom an Interested Party has a business or other financial 

relationship, including but not limited to employees of an Interested Party and/or a spouse, domestic partner, 

child, parent or sibling of such employees; and each firm in which an Interested Party has a present or 

potential interest.

Note that Contractor’s responses to questions 1 – 4, and Contractor’s responses related to persons 

associated with any Interested Party, are limited to the Vendor’s actual knowledge. The Contractor is an 

indirect wholly owned subsidiary of Citigroup Inc. (“Citigroup”), a publicly traded company that, together 

with its consolidated subsidiaries, has over 200,000 full-time employees and does business in more than 

160 countries and jurisdictions. The Contractor has no way of knowing if (i) an Interested Party or 

associated person of an Interested Party owns Citigroup stock or (ii) an associated person of an Interested 

Party is employed in some part of Citibank’s organization outside of the Contractor’s Public Finance 

Department. If a person associated with an Interested Party owned Citi stock or had a spouse or child with 

a job at Citi outside of the Public Finance Department, we do not believe that would have a material 

adverse impact on the Contractor’s ability to perform under its contract with the Board or constitute a 

conflict of interest. Further, (x) except to the extent identified to the Contractor as such, the Contractor 

has no way of knowing the identity of persons “associated” with Interest Parties and (y) the Contractor

has not been provided a list of persons associated with Interested Parties. Additionally, the responses 

below are made subject to, and qualified by, the Contractor’s disclosures set forth in the Fourth Amended 

Agreement under the heading “No Conflict of Interest”. 

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 20 of 114
October 12, 2021

Page 20 of 113

No. To the best of your knowledge: YES NO

1 Is any Interested Party, or any person associated with any Interested 

Party, associated with any employee, Director or Trustee, Officer or 

consultant to/of the Contractor?

X

If you answered “yes” to Question 1, please identify the names of the persons who are associated and 

describe the nature of their association below:

[IF YES, LIST] Contractor understands this Question 1 is not intended to capture client or ordinary-course 

vendor (e.g., outside counsel), counterparty and banking relationships (e.g., underwriting) that are 

unrelated to this Agreement. Further, although Contractor understands this Question 1 is intended only 

to capture connections constituting adverse interests to the Board, Contractor has provided to the Board 

disclosures related to Contractor’s Service Team connections to Interested Parties. 

No. To the best of your knowledge: YES NO

2 Does any Interested Party, or any person associated with an Interested 

Party, have an ownership interest in the Contractor’s company?

X

If you answered “yes” to Question 2, please identify the name(s) of the person(s) who has/have such an 

ownership interest and describe the nature of the interest:

[IF YES, LIST] The Contractor and Citibank, N.A., an affiliate of the Contractor, are indirect wholly-owned 

subsidiaries of Citigroup. For completeness, the Contractor appears as an Interested Party, presumably 

as a result of Citi’s work under the prior contract that this Fourth Amended Agreement replaces. Further, 

as noted in the preamble to this questionnaire, since Citigroup is a publicly traded company, we have no 

way of knowing or monitoring or reporting on what individuals or entities own shares of Citigroup stock. 

No. To the best of your knowledge: YES NO

3 Has any Interested Party, or any person associated with an Interested 

Party, received, or will any Interested Party, or any person associated with 

an Interested Party receive, a financial benefit from the Contractor or 

from this contract?

X

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 21 of 114
October 12, 2021

Page 21 of 113

If you answered “yes” to Question 3, please identify the name(s) of the person(s) who have received or 

will receive such a financial benefit and describe the nature of the benefit below:

[IF YES, LIST] Contractor understands that this Question 3 is not intended to capture client or ordinarycourse vendor (e.g., outside counsel), counterparty and banking relationships (e.g., underwriting) that 

are unrelated to this Agreement.

No. To the best of your knowledge: YES NO

4 Is any Interested Party, or any person associated with an Interested Party, 

contemporaneously employed or prospectively to be employed with the 

Contractor?

X

If you answered “yes” to Question 4, please identify the name(s) and title(s) of the person(s) who are or 

will be so employed below:

[IF YES, LIST]

No. To the best of your knowledge: YES NO

5 Is any Interested Party, or any person associated with an Interested Party, 

acting as a consultant for the Contractor?

X

If you answered “yes” to Question 5, please identify the name(s) of the person(s) acting as a consultant 

and describe the nature of his/her/their consulting services below:

[IF YES, LIST] Contractor understands that this Question 5 is only intended to address consulting 

relationships that are related to this Agreement.

No. To the best of your knowledge: YES NO

6 Has the Contractor provided, or will the Contractor provide, any gifts or 

hospitality of any dollar value or any other gratuities to any Interested 

Party or elected official to obtain or maintain a contract?

X

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 22 of 114
October 12, 2021

Page 22 of 113

If you answered “yes” to Question 6, please describe the nature of such gifts, hospitality, or other 

gratuities below, including (1) the recipient(s) of such gifts, hospitality, or other gratuities; (2) the date(s) 

on which such gifts, hospitality or other gratuities were provided; and (3) the exact (if possible) or 

approximate dollar value of such gifts, hospitality, or other gratuities:

[IF YES, LIST] Contractor understands that this Question 6 is not intended to capture client, counterparty

or ordinary-course vendor, counterparty and banking relationships that are unrelated to this Agreement. 

Further, the Contractor is subject to policies that prohibit its employees from offering, providing, 

requesting or accepting gifts and entertainment to influence an improper action or inaction, secure an 

improper advantage, or induce the improper performance of a responsibility by the recipient.

No. To the best of your knowledge: YES NO

7 Has any Interested Party, or any person associated with an Interested 

Party, provided any gifts of any dollar value or any other gratuities to 

Contractor?

X

If you answered “yes” to Question 7, please describe the nature of such gifts, hospitality, or other 

gratuities below, including (1) the recipient(s) of such gifts, hospitality, or other gratuities; (2) the date(s) 

on which such gifts, hospitality or other gratuities were provided; and (3) the exact (if possible) or 

approximate dollar value of such gifts, hospitality, or other gratuities:

[IF YES, LIST] Contractor understands that this Question 7 is not intended to capture client or ordinarycourse vendor (e.g., outside counsel), counterparty and banking relationships (e.g., underwriting) that 

are unrelated to this Agreement. For completeness, see response to Question 6.

No. To the best of your knowledge: YES NO

8 Has the Contractor or any if its material affiliates or direct or indirect 

subsidiaries made any investments in any public debt obligations of the 

Commonwealth of Puerto Rico or any of its instrumentalities?

X

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 23 of 114
October 12, 2021

Page 23 of 113

If you answered “yes” to Question 8, please describe the nature of such public debt investments 

[IF YES, LIST] Consistent with the Agreement to which this Appendix C is attached, for purposes of this 

Question 8, material affiliates shall constitute any affiliate of Citi that has lent personnel to the 

Contractor’s Service Team. The Contractor’s Service Team is comprised of the Citi bankers that directly 

provide the services for which the Board has retained Contractor. See specific disclosures in this Fourth 

Amended Agreement (Paragraph #2 under the heading “No Conflict of Interest”).

[Signature Page Follows]

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 24 of 114

October 12, 2021

Page 25 of 113

SCHEDULE A – Updated as of 5/5/2021

For purposes of the Financial Oversight and Management Board for Puerto Rico (the (“Board”)’s 

Contractor Conflict of Interest Disclosure Certification, the following entities and individuals are Interested 

Parties:

65 Infanteria Shopping Center, LLC

800 Ponce De Leon Corp.

911 Emergency System Bureau

9-1-1 Service Governing Board

A & E GROUP, CORP. 

A C R Systems

A New Vision in Educational Services and Materials, Inc.

A&S Legal Studio, PSC

A.J. AMADEO MURGA LAW OFFICES

Abacus Educational Services, Corp.

Abbvie Corp.

Abengoa Puerto Rico, S.E.

Abengoa S.A.

Abila, Inc.

Abimael Portalatiin Rosario

Abraham Garcia Roman

Abreu-Ruiz, Edwin

Academia CEIP

Acosta & Ramirez

ACP Master, Ltd

Action To Build Changes Corp.

Ada R. Valdivieso

Adalberto E. Moret Rivera

Additional (Electronic) Lottery

Adirondack Holdings I LLC

Adirondack Holdings II LLC

ADM. SERVICIOS GENERALES

Admin for Socioeconomic Develop of the Family

Administración De Seguros De Salud De Puerto Rico

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 26 of 114
October 12, 2021

Page 26 of 113

Administration for Integral Development of Childhood

Adolfo E. Santiago Santiago

Adrian Mercado Jimenez

Adriana Irizarry

ADSUAR MUNIZ GOYCO SEDA & PEREZ-OCHOA PSC

ADSUAR MUÑIZ GOYCO SEDA & PÉREZ-OCHOA, P.S.C.

Adsuar Muniz Goyco Seda & Perez-Ochoa, PSC

Advocacy for Persons with Disabilities of the CW of PR

AES Puerto Rico, L.P.

AFCG Inc. d/b/a Arroyo-Flores Consulting Group, Inc.

AFICA

AGM PROPERTIES CORPORATION

Agricultural Enterprises Development Administration

Aguirre Offshore Gasport, LLC

Aida A. Cruz Vidal

Aida Rossy Clemente

AIG Insurance Company

Aileen Schmidt Rodriguez

AKIN GUMP STRAUSS HAUER & FELD LLP

Alan Friedman

Alan Rodríguez Pérez

ALB PR Investments, LLC

Albert B. Shehadi

Alberto J. Pico, Jr.

Aldarondo & López-Bras, P.S.C.

Alejandro Camporreale Mundo

Alejandro Estrada Maisonet

Alejandro Figueroa

Alemar-Sanchez, Emanuelle

Alexander Shub

Alexandra Bigas Valedon

Alfa Y Omega

Alianza Comunitaria Ambientalista del Sureste, Inc.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 27 of 114
October 12, 2021

Page 27 of 113

Allan R. Bonin

Alma Elias Rev. Trust

Almeida & Dávila, P.S.C.

Alpha Guards Management

Altair Global

Altair Global Credit Opportunities Fund (A), LLC

Altol Chemical Environemntal Laboratory Inc. D/B/A Alchem Laboratory

Altol Environmental Services, Inc.

Alvarez & Marsal

Alvarez-Estrella, Douglas

Alvin Marrero-Mendez

Alys Collazo Bougeois

Amado Ravelo Guerrero

Amar Educational Services Inc.

Amarilis Ruiz Roman

Ambac Assurance Corporation

Ambassador Veterans Services of Puerto Rico L.L.C.

AMC Consulting Services

America Aponte & Assoc. Corp.

American Century Investment Management, Inc.

American Enterprise Investment Services Inc.

American Federation of State, County and Municipal Employees

American Federation of State, County and Municipal Employees International Union, AFL-CIO

American Federation of Teachers, AFL-CIO

American Modern Home Insurance Company

AmeriCorps

AmeriNational Community Services, LLC

Amigos del Rio Guaynabo, Inc.

Ana Figueroa Colón

Ana I. Iturregui Margarida

Ana J. Matosantos, Member of the Board

Ana M. Emanuelli

Ana R. Lopez

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 28 of 114
October 12, 2021

Page 28 of 113

Ana T. Colmenero

ANB Bank

Anchorage Capital Group, L.L.C.

Andalusian Global Designated Activity Company

Andres Fortuna Evangelista

Andres Fortuna Garcia

Andrés L. Córdova

Andres Matos Figueroa

Andrew G. Biggs, Member of the Board

Andrew Jimenez LLC

Andrew Jimenez-Cancel

Andrew M. Minster

Andrew P. Davis

Andrew P. Davis and Jessica G. Davis, Trustees U/A 8/18/15: Andrew P Davis 2015 Grat I

Andrew Wolfe

Angel A. Rodriguez Gonzalez

Angel D. Cintron Vega

Angel L Martinez-Alvarez

Angel L. Llamas

Angel R. Figueroa Jaramillo

Ángel Rodríguez Rivera

Angel Ruiz Rivera

Angelo, Gordon & Co., L.P.

Angely M. Aponte-Pagán

Anibal Sanz Gonzalez

Ankura Consulting Group, Inc.

Anna Elias

Annabell C. Segarra

Anne Catesby Jones

Anne Farley

Annette Mary Blasini Batista

Antilles Power Depot, Inc.

Antonetti Montalvo & Ramirez Coll

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 29 of 114
October 12, 2021

Page 29 of 113

Antonia Fuentes-Gonzalez

Antonia Rita Blasini Batista

Antonio Cosme-Calderon

Antonio De La Cruz Miranda

Antonio Fuentes-González

Antonio L. Medina, Member of the Board

Antonio Martin Cervera

Antonio Monroig Malatrassi

Antonio Santos Bayron

Antonio Vega-Fernández

APCO Worldwide, LLC

Apex Clearing Corporation

APEX GENERAL CONTRACTORS, LLC,

Aponte-Diaz, Harriet

Aquasur Corporation

Arc American, Inc.

Arcadia Irizarry, Marinelle

Arcos Dorados Puerto Rico LLC

Ariel Colon Clavell

Ariel Ferdman

Arieta & Son Assurance Corporation

Aristeia Capital, L.L.C.

Aristeia Horizons, L.P.

Arlene Irizarry Rivera

Armada Productions Corp.

Arnaldo Cruz Igartua

Arnaldo Hernandez Mendez

Arnaldo Ortiz-Ortiz

Arroyo & Rios Law Offices, PSC

Arthur J. González, Member of the Board

Arthur Samodovitz

Arturo Ortiz

Arturo Pico Vidal

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 30 of 114
October 12, 2021

Page 30 of 113

Arturo Suarez Lopez

Arturo Suarez Perez

ASM BLMIS Claims LLC

Asociacion Azucarera Cooperativa Lafayette

Asociación de Empleados del Estado Libre Asociade

Asociacion de Empleados Gerenciales del Fondo del Seguor del Estado Corp

ASOCIACION DE INNSPECTORES DE JUEGOS DE AZAR

Asociación de Jubilados de la Judicatura de Puerto Rico, Inc.

Asociación de Maestros de Puerto Rico

Asociación de Maestros de Puerto Rico Local Sindical

Asociación de Profesores y Profesoras del Recinto Universitario de Mayagüez, Inc.

Asociacion de Salud Primaria de Puerto Rico

Asociación de Suscripción Conjunta

Asociacion Puertorriquena de la Judicatura

Asociación Puertorriqueña de Profesores Universitarios

Associated Branches Ports

Association of Gaming Inspectors

Assured Guaranty Corporation

Assured Guaranty Municipal Corporation

Astrid Vazquez Gonzalez

Atkins Caribe, LLP

Atlantic Medical Center, Inc.

Augusto P. Conte Matos

Augusto R Palmer Arrache

Aurelius Capital Management, LP

Aurelius Capital Master, Ltd.

Aurelius Convergence Master, Ltd

Aurelius Investment, LLC

Aurelius Opportunities Fund, LLC

Automobile Accidents Compensation Administration

Autonomous Municipality of Ponce

Autonomous Municipality of San Juan

Autonomy Capital (Jersey) LP

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 31 of 114
October 12, 2021

Page 31 of 113

Autonomy Master Fund Limited

Autopistas de PR, LLC

Autopistas Metropolitanas de Puerto Rico, LLC

Autoridad de Energía Eléctrica de Puerto Rico

Avanti Technologies Inc.

Avanzatec LLC

Awilda Gonzalez

Awilda O. Martinez-Sanchez

Awilda Valle

Aymara Vazquez Casas

Bacardi Corporation

Bacardi International Limited

Backyard Bondholders

Badillo Saatchi & Saatchi, Inc.

Bahia Park S.E., B.P. S.E.

Banco Popular de Puerto Rico

Banco Popular De Puerto Rico As Trustee For Popular Balanced IRA Trust Fund

Banco Santander Puerto Rico

Bank of America

Bank of America Merrill Lynch

Bank of New York Mellon

Barbara T. Doan Grandchildrens Trust

Barclays Capital

Barclays Capital Inc./LE

Bard Shannon Limited

Barnes & Thornburg, LLP

Barreras, Inc.

Baxter Sales and Distribution Puerto Rico Corp.

BB&T Securities, LLC

Beanstalk Innovation Puerto Rico LLC

Beatriz Nieves-Lpez

BEC Co, Inc. d/b/a Empacadora Hill Brothers

Behzad Aalaei

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 32 of 114
October 12, 2021

Page 32 of 113

Belk & Grovas Law Offices

Bella Export Corporation

Bella International, LLC

Bella Retail Group, LLC

Bellver Espinosa Law Offices

Beltrán Cintrón

bengoa Puerto Rico, S.E., Abengoa, S.A.

Bennazar, García & Milián, CSP

Bermúdez Díaz & Sánchez LLP

Bermudez, Longo, Diaz-Mosso, LLC

Bernal-Cruz, Victorino

Bernice Beauchamp-Velazquez

Bernstein, Shur, Sawyer & Nelson, P.A.

Bettina M. Whyte

Betty E. Rosa, Member of the Board

BI Incorporated

Bianca Convention Center, Inc.

Bio-Medical Applications of Puerto Rico, Inc.

Bio-Nuclear of Puerto Rico, Inc.

Black Diamond Credit Strategies Master Fund, Ltd.

BlackRock Financial Management, Inc.

Blanca Fernandez Paoli

Blanca Goldikener

Blanca M. Ramirez Feliciano

Blanca Paniagua

BlueMountain Capital Management, LLC

BMO Capital Markets

BMO Capital Markets GKST, Inc.

BNP Paribas Securities Corp./Prime Brokerage

BNP Paribas, New York Branch/BNP Paribas Prime

BNP Paribas, New York Branch/Custody/Client Assets

BNY Mellon

BNY Mellon / Nomura Int'l PLC Repo

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 33 of 114
October 12, 2021

Page 33 of 113

BNY Mellon / POP Sec

BNYMellon/RE DBTC Americas / Deutsche Bk London

BNYMellon/RE DBTC Americas/Deutsche BK

BNYMellon/RE Midcap Spdrs

BNYMellon/RE OZ Omnibus DTC Account

BNYMellon/RE The Prudential Investment

BNYMellon/Wealth Management

Bobonis, Bobonis & Rodriguez Poventud

BofA Securities

Bonistas del Patio

Bonnin Investment Corp.

Bosque Modelo de Puerto Rico

Bracewell, LLP

Branch Banking and Trust Company

Brenda C. Gonzalez Castillo

Brenda Marrero & Associates, Inc

Brian L. Murphy

Brigade Capital Management, LP

Brigade Distressed Value Master Fund Ltd.

Brigade Leveraged Capital Structures Fund Ltd.

Bristol-Myers Squibb Puerto Rico, Inc.

Brookfield Asset Management Private Institutional Capital Adviser (Credit) LLC

Brown Brothers Harriman & Co.

Brown Rudnick LLP

Bruce Robert Wiederspiel

Brunnemer Children's GST Inv Trust UAD 12/20/01

Buchalter, A Professional Corporation

Bufete Emmanuelli, C.S.P.

Bufete Rodríguez Miranda, C.S.P.

Bureau of Special Investigations

Bures-Martinez, Luis

BUTLER SNOW LLP

Butler Snow, LLP

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 34 of 114
October 12, 2021

Page 34 of 113

C. Conde & Assoc.

C.L. King & Associates, Inc.

Cabrera & Ramos Transporte, Inc.

Cadwalader, Wickersham & Taft, LLP

Calderon-Garcia, Marta

Camacho-Geck, Maribel

Camino Cipres LLC

Camino Roble LLC

Campofresco, Corp.

Camuy Health Center, Inc.

Camuy Health Services, Inc.

Canary SC Master Fund, L.P.

Cancio Covas & Santiago, LLP

Cancio, Nadal & Rivera, LLC

Cancio, Nadal, Rivera & Diaz, PSC

Candlewood Constellation SPC Ltd., acting for and on behalf of Candlewood Puerto Rico SP

Candlewood Investment Group, LP

Cantor Clearing Services

Cantor Fitzgerald & Co. 

Cantor-Katz Collateral Monitor LLC

Cantor-Katz Collateral Monitor, LLC

Canyon Balanced Master Fund, Ltd.

Canyon Blue Credit Investment Fund L.P.

Canyon Capital Advisors LLC

Canyon Distressed Opportunity Investing Fund II, L.P.

Canyon Distressed Opportunity Master Fund II, L.P.

Canyon NZ-DOF Investing, L.P.

Canyon Value Realization Fund, L.P.

Canyon Value Realization Mac 18 Ltd.

Canyon-ASP Fund, L.P.

Canyon-GRF Master Fund II, L.P.

Canyon-SL Value Fund, L.P.

Capítulo de Retirados de SPU

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 35 of 114
October 12, 2021

Page 35 of 113

Cardiovascular Center Corporation of Puerto Rico and the Caribbean

Cardona-Jimenez Law Offices, PSC

Careers, Inc.

Caribbean Airport Facilities, Inc.

Caribbean City Builders, Inc.

Caribbean Data System, Inc.

Caribbean Educational Services, Inc.

Caribbean Hospital Corporation

Caribbean Investment Center, Inc.

Caribbean Temporary Services, Inc.

Caribe Grolier, Inc.

Caribe Tecno, Inc.

Caribean Cinema of Guaynabo, Corp.

Carla Molina Barrios by herself and in representation of her son Yariel Tolentino Molina

Carla T. Rodríguez Bernier

Carlos A. Arroyo Aguirrechea

Carlos A. Cintron Garcia

Carlos A. Ponce De Leon

Carlos A. Quilichini Paz

Carlos A. Robles

Carlos Alsina Batista Law Offices, PSC

Carlos E. Cardona-Fernández

Carlos E. Iturregui Margarida

Carlos E. Rivera-Justiniano

Carlos Fernandez-Nadal, Esq

Carlos Guzman-Nieves

Carlos Ifarraguerri Gomez, MD

CARLOS J. MÉNDEZ-NÚÑEZ

Carlos J. Weber Seda

Carlos Lopez-Lay

Carlos Luis Merced-Centeno

Carlos M. Amador

Carlos M. Benítez, Inc

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 36 of 114
October 12, 2021

Page 36 of 113

Carlos M. Garcia

Carlos M. Vergne Law Offices

Carlos Otero Ortega

Carlos Pérez Molina

Carlos R. Machin

Carlos R. Mendez & Associates

Carlos Reyes

Carlos Rodríguez Vidal

Carlos Valdes de Llauger

Carmen Casanova de Roig

Carmen Castro de Valdes

Carmen D. Jimenez Gandara Estate

Carmen D. Serrano Torres

Carmen Del R Garcia Roman

Carmen E. Ramirez

CARMEN FELICIANO VARGAS

Carmen G. Golderos Rodriguez

Carmen Geigel

Carmen Ilenna Rivera Cintron

Carmen Iris Rivera Cosme

Carmen Maria Davila

Carmen Nunez

Carmen Rodriguez Colon

Carmen Rosa

Carmen Rosa Pola

Carmen W. Nigaglioni

Carmen Yolanda Rivera Torres

Carnegie Learning, Inc.

Carribean Restaurant Inc.

Carvajal Educacion, Inc.

Casa Grande Interactive Communications, Inc.

Case Solutions, LLC

Casellas Alcover & Burgos, PSC

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 37 of 114
October 12, 2021

Page 37 of 113

Casillas, Santiago & Torres, LLC

Catalinas Cinema, Corp.

Catharine M. Bonin

CCHPR Hospitality, Inc

CD Builders, Inc.

Celia Fernandez De Gutierrez

Center for Research, Education and Medical Services for Diabetes

Centerbridge Partners, L.P.

Centro Avanzado Patologia & Terapia Del Habla, Inc.

Centro de Desarollo, Inc.

Centro de Medicina Familiar Julio Palmieri Ferri, Inc.

Centro de Orientacion y Ayuda Psiquiztrica, Inc.

Centro De Patologia Del Habla Y Audicion LLC

Centro de Periodismo Investigativo Inc.

Centro de Salud de Lares, Inc.

Centro de Salud Familiar Dr. Julio Palmieri Ferri, Inc.

Centro de Servicios Primarios de Salud de Patillas, Inc.

Centro de Terapia Integral Crecemos, CSP

Centro Del Sur Mall, LLC

Centro Interdisciplinario del Aprendizaje, Inc.

Centro Medico Del Turabo, Inc.

Centro Psicologico del Sur Este P.S.C.

Centro Sicoterapeutico Multidisciplinario Incorporado

César Caminero Ramos

Cesar Castillo, Inc.

Cetera Investment Services LLC

Charles A. Cuprill, PSC, Law Offices

Charles L. Perkins, Sr.

Charles Schwab & Co., Inc.

Charlie Hernandez Law Offices

Chavez-Colon, Carla

Chelo's Auto Parts

Chief Judge Barbara J. Houser

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 38 of 114
October 12, 2021

Page 38 of 113

Chief of Staff

Chiesa Shahinian & Giantomasi PC

Child Support Administration

Childcare and Childhood Integral Development Administration

Choate, Hall & Stewart, LLP

Christain Sobrino, Ex Officio Member of the Board

Christian Sobrino Vega

Ciales Primary Health Care Services, Inc.

Ciales Primary Health Center, Inc.

Cintron-Garcia Law

Citibank, N.A.

Citibank/The Citigroup Private Bank/Trust

Citigroup Global Markets Inc.

Citigroup Global Markets Inc./Salomon Brothers

Citigroup Global Markets, Inc./Correspondent Clearing

Citigroup Inc.

Citizen's Advocate Office (Ombudsman)

City National Bank

Civil Rights Commission

Claren Road Credit Master Fund, Ltd.

Claren Road Credit Opportunities Master Fund, Ltd.

Clarissa M. Vinas Miranda

Claudia Vincenty Guzman

Clearing LLC

Clinica de Terapias Pediatricas, Inc.

Clinica Terapeutica del Norte Inc.

Coalicion de Organizaciones Anti Incineracion, Inc.

Cobián Roig Law Offices

Cobra Acquisitions LLC

Cohen, Weiss and Simon, LLP

COLÓN RAMÍREZ, LLC

Com Est Elec Y/O Francheska Ortiz Bonnet

Comerica Bank

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 39 of 114
October 12, 2021

Page 39 of 113

Comite Dialogo Ambiental, Inc.

Comite Yabucoeno Pro-Calidad de Vida, Inc.

Commerce Bank

Commonwealth Election Commission

Commonwealth of Puerto Rico

Commonwealth of Puerto Rico Regional Center Corporation

Community Cornerstones, Inc.

Company for the Integral Development of Cantera's Peninsula

Company for the Integral Development of the “Península de Cantera”

Compass Bank/Trust Division

Comprehensive Health Service, Inc.

Computer Learning Centers, Inc.

Computer Network Systems Corp.

Concilio de Salud Integral de Loiza, Inc.

Conjugal Partnership Crespo-Colon

Consejo de Salud de la Comunidad de la Playa de Ponce, Inc (MED CENTRO INC.)

Consejo de Salud de la Comunidad de la Playa de Ponce, Inc.

Conservatory of Music

Consolidated Waste Services LLC

Constellation Capital Management, LLC

Constructora Santiago II, Corp.

Continental Casualty Co.

Contributions to Municipalities (CRIM)

Controller's Office

Convention Center District Authority (PRCCDA)

Conway MacKenzie, Inc.

COOLEY LLP

Coop A/C Roosevelt Roads

Coop A/C San Rafael

Cooper Power Systems, LLC

Cooperativa A/C La Comeriena

Cooperativa A/C Roosevelt Roads

Cooperativa A/C Vegabajeña

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 40 of 114
October 12, 2021

Page 40 of 113

Cooperativa de A/C Aguas Buenas

Cooperativa De A/C Aibonitena

Cooperativa de A/C Camuy

Cooperativa de A/C Jesus Obrero

Cooperativa De A/C La Sagrada Familia

Cooperativa de A/C Maunabo

Cooperativa de A/C Morevena

Cooperativa de A/C Oriental

Cooperativa De A/C Saulo D Rodriguez

Cooperativa de Ahorro & Credito San Rafael 

Cooperativa De Ahorro Y Credito Abraham Rosa

Cooperativa de Ahorro y Credito Candelcoop

Cooperativa De Ahorro Y Credito De Aguada

Cooperativa de Ahorro y Credito De Aguadilla

Cooperativa de Ahorro y Credito de Caparra

Cooperativa de Ahorro y Credito de Ciales

Cooperativa de Ahorro y Credito de Empleadoes Municipales de Guaynabo (a/k/a MUNICOOP)

Cooperativa De Ahorro Y Credito De Empleados De La Autoridad De Energia Electrica

Cooperativa de Ahorro y Credito de Empleados de la Corporacion del Fondo del Seguro del Estado

Cooperativa de Ahorro y Credito de Hatillo

Cooperativa De Ahorro y Crédito De Isabela

Cooperativa de Ahorro y Crédito de Juana Díaz

Cooperativa de Ahorro y Credito de la Federacion de Maestros de PR

Cooperativa De Ahorro Y Credito De Lares

Cooperativa De Ahorro Y Credito De Lares Y Region Central

Cooperativa de Ahorro y Credito de Oficiales de Custodia de PR

Cooperativa de Ahorro y Crédito de Rincón

Cooperativa de Ahorro y Crédito de Santa Isabel

Cooperativa de Ahorro y Credito de Yauco

Cooperativa de Ahorro y Credito del Valenciano

Cooperativa de Ahorro y Crédito Dr. Manuel Zeno Gandía

Cooperativa De Ahorro Y Credito El Valenciano

Cooperativa De Ahorro Y Credito Isla Coop

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 41 of 114
October 12, 2021

Page 41 of 113

Cooperativa de Ahorro y Crédito Jayucoop

Cooperativa de Ahorro y Credito Lomas Verdes

COOPERATIVA DE AHORRO Y CREDITO ORIENTAL

Cooperativa De Ahorro Y Credito Padre Salvador Ruffolo

Cooperativa de Ahorro Y Credito San Jose

Cooperativa de Ahorro y Crédito Vega Alta

Cooperativa de Ahorro Y Credito Vegabajena

Cooperativa De Ahorro Y Credito Zeno Gandia

Cooperativa de Farmacias Puertorriqueñas (COOPHARMA)

Cooperativa de Seguros Múltiples de Puerto Rico

Cooperative Development Commission

COR Clearing LLC

Corbin Opportunity Fund, L.P.

Cordova & Dick LLC

Córdova & Dick, LLC

Core Laboratories N.V. D/B/A/ Saybolt

Corp for the Industries of Blind, Mentally Retarded, and Other Disabled People of Puerto Rico

Corporacion De Servicios De Salud Y Medicina De Avanzada

Corporacion de Servicios Integrales de Salud Area de Barranquitas, Comerio, Corozal Naranjito y 

Orocovis, Inc.

Corporacion de Servicios Medicos Primarios y Prevencion de Hatillo, Inc.

Corporacion Marcaribe Investment (Marcaribe)

Corporación Publica para la Supervisión y Seguro de Cooperativas de Puerto Rico (“COSSEC”)

Corporate Research and Training, Inc.

Corporation for the "Caño Martin Peña" Project

Corporation of Industries for the Blind and Mentally Retarded and Incapacitated Persons of Puerto Rico

Corps of Firefighters Bureau

Corps of Medical Emergencies Bureau

Correa Acevedo & Abesada Law Offices, PSC

CORRECTION CORPORATION OF AMERICA

Correctional Health

CORTLAND CAPITAL MARKET SERVICES LLC

COSSMA

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 42 of 114
October 12, 2021

Page 42 of 113

Costa Pacheco, Dennis

Costa Salud, Inc.

Coto & Associates

Coto Laurel Solar Farm, Inc.

Court of Appeals

Court of First Instance

Cowell Weedon & Co.

Creative Educational & Psychological Services, Inc.

Credit Opportunities Fund (A), LLC

Credit Suisse Securities (USA) LLC

Crescent 1, L.P.

Crews And Associates, Inc.

Criminal Justice Information System

Crowell Weedon & Co

Crown Managed Accounts for and on behalf of Crown/PW SP

CRS Master Fund, L.P.

CRUFON CONSTRUCTION CORP

Cruz-Rodriguez, Yanira

Cruz-Sanabri, Arnaldo

CSA Architects & Engineers, LLP

Culebra Conservation and Development Authority

culptor SC II, LP (f/k/a OZSC II L.P.)

Cynthia Cruz Emmanuelli

Cyrus Capital Partners, L.P.

Cyrus Opportunities Master Fund II, Ltd.

Cyrus Select Opportunities Master Fund, Ltd

Cyrus Special Strategies Master Fund, L.P.

D Lerner Associates

D T Doan

D. A. Davidson & Co.

Dalmau Botello, Nathalie

Daniel Almeida Medina

Daniel M. McDermott

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 43 of 114
October 12, 2021

Page 43 of 113

Daniel Molina López, Esq.

Datas Access Communication Inc.

Davenport & Company LLC

David A. Skeel Jr., Member of the Board

David Backens

David Carrion Baralt

David J. Gaynor Tee U/A Dtd 02/23/2005 David J. Gaynor Trust

Davidson Kempner Capital Management LP

Davidson Kempner Distressed Opportunities Fund LP

Davidson Kempner Distressed Opportunities International Ltd.

Davidson Kempner Institutional Partners, L.P.

Davidson Kempner International, Ltd.

Davidson Kempner Partners

Davis Polk & Wardwell LLP

De Diego Law Offices, PSC

Debevoise & Plimpton, LLP

Decagon Holdings 1, L.L.C.

Decagon Holdings 10, L.L.C.

Decagon Holdings 2, L.L.C.

Decagon Holdings 3, L.L.C.

Decagon Holdings 4, L.L.C.

Decagon Holdings 5, L.L.C.

Decagon Holdings 6, L.L.C.

Decagon Holdings 7, L.L.C.

Decagon Holdings 8, L.L.C.

Decagon Holdings 9, L.L.C.

Dechert, LLP

Del Valle Group, SP

Del Valle-Catoni, Natalia

Delgado & Fernandez, LLC

Delgado Miranda Law Offices, LLC

Delgado-Morales, Maria de Lourdes

Delia E. Vizcarrondo

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 44 of 114
October 12, 2021

Page 44 of 113

Delsa B. Minster

Departamento de Justicia de Puerto Rico

Department of Agriculture

Department of Consumer Affairs

Department of Correction and Rehabilitation

Department of Defense

Department of Economic Development and Commerce

Department of Education

Department of Energy

Department of Family

Department of Health

Department of Homeland Security

Department of Housing

Department of Housing and Urban Development

Department of Human and Health Services

Department of Justice

Department of Justice - Office of General Solicitor

Department of Justice - Office of the Inspector General

Department of Labor and Human Resources

Department of Natural and Environmental Resources

Department of Public Safety

Department of Sports and Recreation

Department of State

Department of the Family

Department of the Interior

Department of Transportation

Department of Transportation and Public Works

Department of Treasury

Department of Veterans Affairs

Depository Trust Company

Dept of Economic Development and Commerce

DEPTO TRABAJO Y RECURSOS HUMANOS

Desarrollo Comunicologico de Arecibo Inc.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 45 of 114
October 12, 2021

Page 45 of 113

Destilerias Serralles, Inc.

Deutsche Bank Securities Inc.

Development & Construction Law Group, LLC

DEYA ELEVATOR SERVICE INC

Diabel Del C. Colon Lugo

Diana Guzman Webb

Diana I. Madera Heredia

Diana Iris Morales Lopez

Diana Rosa Jirau Rovira

Diane Silverman

Diaz Soto Law Office

DiCicco Gulman and Company

Didacticos, Inc.

Diego Corral González

Distribuidora Blanco, Inc.

Distribuidora Lebron Inc.

DLA Piper (Puerto Rico), LLC

DLA Piper, LLP (US)

Doctor's Center Hospital, Inc.

Domingo Buono Ruiz

Donald L. McDonald

Donna A. Maldonado-Rivera

Doral Financial Corporation

Dr. Carlos Suarez Vazquez

Dr. Katherine Betts-Martin

DRC CORPORATION 

Drivetrain, LLC, as the Creditors’ Trustee for Doral Financial Corporation

Duff & Phelps LLC

Dulce M. De Hostos

E*Trade Securities LLC

E. Cardona & Asociados, Inc.

Earle PR Investments LLC

Eastern America Insurance Agency, Inc.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 46 of 114
October 12, 2021

Page 46 of 113

EcoEléctrica, L.P.

Ecolift Corporation

Economic and Statistics Administrations

Economic Development Bank for Puerto Rico

Edda M. Arroyo Matos

Edgar Donnenech

Edgar M. Esquilin Monge

Edgardo Barreto Law Office

Edgardo Muñoz, PSC

Edge Legal Strategies, PSC

Edgordo Seda Arroyo

Ediciones Santillana, Inc.

EDIFICIO BULA, INC.

Editorial Panamericana, Inc.

EDN Consulting Group, LLC

Edna Rozas

EDUARDO ARTAU GOMEZ

Eduardo Bhatia Gautier

Educational Consultants, P.S.C.

Educational Development Group Inc.

Educree: Consultores Educativos Inc.

Edward D. Jones & Corp.

Edward Valdes Llauger

Edward Zayas

Edwin F. Alicea Liciaga

Edwin F. Rodriguez

Edwin Maldonado Santiago

EFFRON DORADO SE

EGJ Health Consulting LLC

Eileen Maria Coffey

Eje Puerto Rico, Inc.

El Koury-Francisco, Jaime A

El Puente de Williamsburg, Inc. - Enlace de Accion Climatica

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 47 of 114
October 12, 2021

Page 47 of 113

Elderly and Retired People Advocate Office

Elián N. Escalante De Jesús, Esq.

Elias E Hijos, Inc.

Elias Sánchez-Sifonte

Eliezer Santana Baez

Elizabeth Gonzalez

Elizabeth L. Anderson

Elizabeth L. Anderson (Revocable Trust 10/22/2012)

Elizabeth Leitzes

Ellen Levine

Ellen Metzger

Ellen Winslow

Eloy Gutierrez

Elsie C. Brugueras

Elvira A. Gautier Carbonell

Emergency and Disaster Management Bureau

Emergency Management and Disaster Admin Agency

Emergency Medical Services Corps

Emilio Colón Beltrán

Emilio Miranda-Ramirez

Emma M. De Muniz

Emmanuel Aponte-Colon

Emmanuel Rodríguez Collazo

Emmanuel Rodriguez-Vazquez

Employees’ Retirement System (ERS)

Employment and Training Enterprises Corporation

Empresas Arr Inc.

Empresas Loyola, Inc.

Emso Asset Management Limited

Encanto Restaurants, Inc.

Encody Inc.

Enelia Russe

Enelida Rodriguez

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 48 of 114
October 12, 2021

Page 48 of 113

Energy Affairs Office

Energy Commission

England, National Association

Enrique Alfonso Sabater

Enrique Carrillo

Enrique Castillo Toro

Enrique Vazquez Quintana

Enrique Vazquez Quintana

Enterprise Services Caribe, LLC

Environmental Protection Agency

Environmental Quality Board

EP Canyon Ltd.

Epiq Systems

Erasto Zayas López

erfecto Crespo Bermudez

Eric Pérez Torres

Ernesto L. Ramirez Torres

Ernesto Zayas Lopez

Ernst & Young

Ernst & Young Puerto Rico, LLC

ESC Group, Inc.

Estate of Carlos A. Quilichini Roig

Estate of Carmen D. Jimenez-Gandara

Estate of Delia Hernandez

Estate of Edward P. Giaimo, Jr.

Estate of Jose A. Roman-Toledo

Estate of Onelia Alicea

Estela Del Valle Rullan

Estrada Bus Line, Inc.

Estrella, LLC

Estudios Tecnicos, Inc.

Evelyn Ramirez Garraton

Evertec Group, LLC

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 49 of 114
October 12, 2021

Page 49 of 113

Evertec, Inc.

Evertee Group LLC

Excalibur Technologies Corp.

Excelerate Energy Puerto Rico, LLC

Explora Centro Academico Y Terapeutico LLC

Faccio & Pabon Roca

Facsimile Paper Connection Corp.

Fact Enterprises LLC

Faegre Baker Daniels, LLP

Family and Children Administration

Farm Insurance Corporation of Puerto Rico

Farmstead Capital Management, LLC

FCO Advisors LP

FCO Special Opportunities (A1) LP

FCO Special Opportunities (D1) LP

FCO Special Opportunities (E1) LLC

FCO Special Opportunities (E1) LLC – Master Series 1 Fundamental Credit Opportunities Master Fund LP

FDR 1500 Corp

Federación de Maestros de Puerto Rico

Federal Affairs Administration

Federal Communications Commission (FCC)

Federal Emergency Management Agency (FEMA)

Federal Home Loan Mortgage Corporation

Fegan Scott LLC

Feldesman Tucker Leifer Fidell, LLP

Félix J. Montañez-Miranda

Fernández Cuyar Rovira & Plá LLC

Fernando Perez Gutierrez

Ferraiuoli, LLC

Ferrari Law, PSC

Ferrovial Agroman, SA

Ferrovial Agroman, SA & TEC General Contractors, Corp.

Fidecoop, Cooperativa De Ahorro Y Credito De Rincon

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 50 of 114
October 12, 2021

Page 50 of 113

Fideicomiso Blanco Bou

Fideicomiso Del Valle Martinez II

Fideicomiso Encarlan III

Fideicomiso Hernandez Castrodad

Fideicomiso Lugo Rivera

Fideicomiso Mercado Riera

Fideicomiso Plaza

Fidelity and Deposit Co. of Maryland

Fiduciary SSB

Fifth Third Bank

Figueroa y Morgade Law

Figueroa-Alvarenga, Marcelo Rene

Figueroa-Ramirez, Alejandro

Filsinger Energy Partners, Inc

Financial Guaranty Insurance Company

Finca Matilde, Inc.

Finca Perseverancia, Inc.

Fine Arts Center Corporation

Fir Tree Capital Opportunity Master Fund III, LP

Fir Tree Capital Opportunity Master Fund, LP

Fir Tree Partners

Fir Tree Value Master Fund, LP

First Hospital Panamericano, Inc.

FIRST MEDICAL HEALTH PLAN, INC.

First Pacific Advisors, LLC

First Southwest Company

First Transit of Puerto Rico, Inc

Fiscal Agency and Financial Advisory Authority

Flor Zayas De Navarro

Florence Quilichini Paz

Foley & Lardner LLP

Fondo de Inversión y Desarrollo Cooperativo, Inc.

Forcelink Corp.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 51 of 114
October 12, 2021

Page 51 of 113

Forculus Communications, LLC

Forculus Strategic Communications, LLC

Fore Multi Strategy Master Fund, Ltd.

Forensics Science Bureau

Fortuño Law

Foundation Capital

FP + 1, LLC

FPA Crescent Fund, a Series of FPA Funds Trust

FPA Global Opportunity Fund, a Series of FPA Hawkeye Fund, LLC

FPA Hawkeye Fund, a Series of FPA Hawkeye Fund, LLC

FPA Select Drawdown Fund L.P.

FPA Select Fund, L.P.

FPA Value Partners Fund, a Series of FPA Hawkeye Fund, LLC

Frances Bothwell del Toro

Frances Bragan Valldejuly

Francisco Brigantty

Francisco Diaz Lopez

Francisco González Law Office

Francisco Leoni Charles

Francisco Levy Hijo, Inc.

Francisco Pares Alicea

Francois May

Franklin Advisers, Inc.

Franklin Mutual Advisers LLC

Fred A. Levine

Frente Unido de Policias Organizados

Frente Unido de Policias, Concilio Nacional de Policias

Fridma Corporation

FRIEDMAN KAPLAN SEILER & ADELMAN LLP

FT COC (E) Holdings, LLC

FT SOF IV Holdings, LLC

FTI Consulting, Inc.

Fuentes-Ramirez, Ricardo

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 52 of 114
October 12, 2021

Page 52 of 113

Fundador Albarran Irizarry

Fundamental Credit Opportunities Master Fund LP

Funeraria Shalom Memorial Inc.

Fusion Works, Inc.

G RG ENGINEERING S E

G. Carlo-Altieri Law Offices, LLC

Gabriel Albarran-Buono

GAM Realty LLC

Gamaliel Sánchez Pellot

Garay Massey Law Office

Garcia-Arregui & Fullana PSC

Garcia-Noya, Ana

Garffer & Jusino Attorneys at Law

GDB Public Entity Trust

GEC Risk Advisory, LLC

Genaro Herrera Dos Reis

General Court of Justice

General Investment LLC

General Services Administration

GENESIS SECURITY SERVICES INC

Genesis Security Services, Inc.

Genovese Joblove & Batista, P.A.

GENOVESE JOBLOVE & BATTISTA, P.A

George E. Reed Jr.

George K. Baum & Company

Gerald Leitzes

Gerard Ramos-Martin

Gerardo Ferracane

Gerena Law Office

Germán Ojeda

Germán Torres Berrios

German Uribe

Gerryanne Ramos

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 53 of 114
October 12, 2021

Page 53 of 113

Gersh International PR, LLC

Gerson Gonzalez-Ricano

GF Solutions, Inc.

GG ALTERNATIVE ENERGY CORP

Gibson, Dunn & Crutcher, LLP

Gierbolini & Carroll Law Offices, P.S.C.

Gila, LLC

GILBERTO ARES CANDELARIA

Gilberto Rosario-Vicente

Gilda P. Rovira

Ginorly Maldonado

Girard Manufacturing, Inc.

Gladys B. Suarez Dominguez

Gladys Garcia-Rubiera

Glenda Colon-Figueroa

Glendon Opportunities Fund, L.P.

Global Flexible Fund, a Sub-Fund of Nedgroup Investment Funds PLC

Gloria M. Esteva Marqués

Gloribel Gonzalez Maldonado

GM Security Technologies, Inc.

GMO Credit Opportunities Fund, L.P.

GMO Global Real Return (UCITS) Fund, a sub-fund of GMO Funds plc

GMO Implementation Fund, a series of GMO Trust GMO Credit Opportunities Fund, L.P.

GMS Group, LLC

Godreau & Gonzalez Law, LLC

GoldenTree Asset Management LP

Goldman Antonetti & Cordova, LLC

Goldman Sachs & Co.

Goldman Sachs Asset Management, LP

Goldman, Antonetti & Cordova, LLC

González López & López Adames LLC

Gonzalez Munoz Law Offices, PSC

Gonzalez Padin Realty Company, Inc.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 54 of 114
October 12, 2021

Page 54 of 113

Gonzalez-Bermudez, Siumell

Gonzalez-Pabon, Rolando

Goodwin Procter LLP

Gordel Capital Limited

Gov. Alejandro García Padilla, Ex-Officio Member of the Board

Gov. Pedro Pierluisi Urrutia,, Ex Officio Member of the Board

Governing Board of the University of Puerto Rico

Government Development Bank for Puerto Rico

Government Employee Retirement System (ERS)

Government Ethics Office

Grace Arroyo Negron

Grainger Caribe, Inc.

Great Educational Services Corporation

Greenberg Traurig, LLP

Grisell Cuevas-Rodriguez

GS Fajardo Solar LLC

GT Fixed Income Fund LP

Guardiola- Torres, Elisa

Guillermo Irizarry

Guillermo Marxuach

Guillermo Ramos Luiña

Guilloty-Sanchez, Reinaldo

Gui-Mer-Fe Inc.

Guy G. Gebhardt

Hacienda

Haddock Acevedo

Hagens Berman Sobol Shapiro LLP

HALS, PSC

Harriet Aponte

Harry Anduze

Harry Anduze Montano Law Offices

Hato Rey Cinema Corp.

Haydee Lopez-Duprey

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 55 of 114
October 12, 2021

Page 55 of 113

HDI Global Insurance Company

Health Advocate Office

Health Insurance Administration (ASES)

Hector Figueroa Vincenty

Hector L. Rivera Rosario

Hector M. Correa Correa

Hector X. Perez

Heidrick & Struggles

Helvia Cruz Ybarra

Henessy Ravelo Jaquez

Henry H. Rexach

Heriberto Marín Centeno

Heriberto Mattei Torres

Heriberto Nieves Dominguez

Hermandad de Empleados del Fondo del Seguro del Estado, Inc.

Hermanos Torres Torres, Inc.

Hernandez & Rodriguez Law Offices

Hernandez Quinones, Fausto

Hernandez-Maldonado, Eduardo

Hernandez-Oharriz & Santiago Law Firm, PSC

Hewlett Packard Puerto Rico, BV LLC

Hickey-Morales, Yamir

Highfields Capital I LP

Highfields Capital II LP

Highfields Capital III LP

Hilda A. Izquierdo Stella

Hilda O. Cartagena

Hilliard, Lyons LLC

Hilltop Securities Inc.

Hiram Perez Soto

Hogan Lovells US, LLP

Holland & Knight, LLP

Home Medical Equipment Inc.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 56 of 114
October 12, 2021

Page 56 of 113

Hon. Luis G. Fortuño

Hon. Rafael Hernández-Montañez

Honorable Rosanna López León

Horizon Energy LLC

Horse Racing Administration

Horse Racing Industry and Sport Administration

Hospira Puerto Rico, LLC

Hospital General Castañer, Inc.

Hospital San Juan Capestrano, Inc

House of Representatives

Housing Financing Authority (HFA)

HPM Foundation, Inc.

Huellas Therapy Corp.

Hugo L. Quilichini

Human Rights Commission

Hunton Andrews Kurth LLP

I.D.E.A., Inc.

Ian Melmed

IDSC LLC d/b/a Infrastructure Opportunity Fund

IKON Solutions, Inc.

Ileana Ortiz-Santiago

Ilia M. Perez

IMO Investment S.E., et al.

INCOM INVESTMENTS CORP.

Independent Consumer Protection Office

Independent Union Authority of Acueductis

Indian Harbor Insurance Company

Indiano & Williams, PSC

Industria Lechera de Puerto Rico, Inc. (“Indulac”)

Industrial Commission

Industrial Development Company (PRIDCO)

Industrial Tax Exemption Office

Ines Mejias

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 57 of 114
October 12, 2021

Page 57 of 113

Infrastructure Financing Authority

Inglesea Capital LLC

Ingrid L. Carlson

Inmobiliaria Levy, inc.

Inmobiliaria San Alberto, Inc.

Innovative Solutions Inc.

Insight Management Group, Inc.

Inspectorate America Corporation

Institucion Educativa Nets, LLC

Institute of Forensic Sciences

Institute of Puerto Rican Culture

Institute of Statistics

Institutional Trust of the National Guard of Puerto Rico

Instituto de Competitividad Y Sostenibilidad Ecomomica de Puerto Rico

Insular Union of Industrial Workers and Electrical Constructions, Union Workers Housing Bank,

Integra Design Group PSC

Integrand Assurance Company

Intelutions, Inc.

Interactive Brokers Retail Equity Clearing

Interamerican Turnkey Development Co., Inc.

Interamericas Turnkey, Inc.

Internal Revenue Service

International Automotive Distributors Group, LLC

International Business Machines Corporation

International Surveillance Services Corporation

Intervoice Communication of Puerto Rico Inc.

Intl FCStone Financial Inc.

Invesco Advisers, Inc.

Invesco/Oppenheimer Funds

Investigation, Processing and Appellate Commission

Iris I. Cantres Quinones

Irizarry-Fernandez, Natalia

Irmita Guzman De Amador

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 58 of 114
October 12, 2021

Page 58 of 113

Isla del Río, Inc

Isla Lab Products, LLC

Ismael L. Purcell Soler

Ismael Marrero Rolon

Ismael Vincenty Perez

Israel Roldán González & Isis Aimée Roldán Márquez

Ivan Ayala

Ivan Fuentes Vazquez

Ivan Montalvo

Ivelisse Albarran JNT TEN

Ivelisse Buono

Ivelisse Buono Albarran

Ivette Bonet Rivera

Ivonne González-Morales

Ivonne Ramirez-Aneses

Ivonne T. Vidal

J. Jaramillo Insurance, Inc.

J.F. Educational Services Inc.

J.P. Morgan Chase & Co.

J.P. Morgan Securities LLC

J.P. Morgan Securities LLC/JPMC aka or fka J.P. Morgan

Jacana Holdings I LLC

Jacana Holdings II LLC

Jacana Holdings III LLC

Jacana Holdings IV LLC

Jacana Holdings V LLC

Jack Goldikener

Jack Katz

Jaime A. El Koury, General Counsel of the Board

Jaime B. Fuster Estate, Comprised By Maria J. Zalduondo Viera and Jaime and Maria L. Fuster Zalduondo

Jaime Banchs Pieretti

Jaime Ortiz Rodriguez

Jaime Rodríguez Avilés

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 59 of 114
October 12, 2021

Page 59 of 113

Jake Gartman

James B. Moore

James E. Olsen

James Law Offices

Jane A. Becker Whitaker, Esq.

Janney Montgomery Scott LLC

Jaresko, Natalie

Javier A. Aponte Machado

Javier Andino-Gaudin

Javier Capestany

Javier Cerra Fernandez M.D.

Javier Córdova Iturregui

Javier Mandry-Mercado

Javier Perez-Rivera

Jayson O. Padilla

Jean C. Garcia

Jean Philip Gauthier Law Offices

Jeanette Torres Camacho

Jefferies Group LLC

Jeffries, LLC

Jenner & Block, LLP

Jennifer Jean Stitt

Jeronimo Esteve Abril

Jessica G. Davis

Jessica G. Davis and Andrew P. Davis, Trustees U/A 8/18/15: Jessica G. Davis 2015 Grat 1

Jessica M. Quilichini Ortiz

Jesus Lacen Guanill, Bereida Guanill Navarro, Gabriela Guanill, Elizabeth Navarro Guanill, Estefani 

Lacen, Betzaida Lacen Guanill, Jeremy Lacen Villanueva, and Wilfredo Dávila Serrano

JESÚS M. RIVERA DELGADO

Jesús M. Rodríguez Rosa

Jiménez, Graffam & Lausell

JLG CONSULTING ENGINEERING, P.S.C.

JLM Transporte, Inc.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 60 of 114
October 12, 2021

Page 60 of 113

JNL Multi-Manager Alternative Fund, a Series of JNL Services Trust

Jo Ellen Bleiweiss Revocable Trust

Joana Rodriguez

Joaquin Gutierrez Fernandez

Joel Isander Cuadrado Delgado

Joel R. Almodovar Rivera

John C. Gartland and Katherine A. Gartland Trust UA 03/01/2016

John D. Goeke

John E. Nixon, Member of the Board

John G. Sanchez Santos

John Hancock Investments

John J. Hefler and Elena A. Hefler as Trustees for the Hefler Family Trust

John Rojas Velez

John Santos Russo

Johnjavi Corporation

Johnson Controls, Inc.

Jolyne D'Ambrosio

Jones Day

Jordi Bofill

Jorge I. Quinones

Jorge Lucas Pérez Valdivieso Torruella

Jorge Luis Guerrero-Calderon

Jorge P. Sala Colon

Jorge Plard

Jorge R. Quintana-Lajara

Jorge Valdes Llauger

Jose A. Cepeda Retirement Plan Represented By UBS Trust Company Of PR

Jose A. Cuevas Sanchez

Jose A. Leon Rosario

Jose Alberto Maymo Azize

Jose Angel Almodovar Collazo

Jose Angel Rey

Jose B. Carrión III, Member of the Board

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 61 of 114
October 12, 2021

Page 61 of 113

Jose C. Diaz Vega

Jose E. Franco Gomez

José E. Janer Velázquez

Jose Enrique Ortiz Rivera

Jose F. Rodriguez

Jose Francisco Gonzalez-Heres

Jose Lopez Medina

José Luis Barrios-Ramos

José Luis Cumbas Torres

Jose M. Bonnin

José Marin

Jose N. Rivera Vilar

José Orbi

José Ortíz Bibiloni

Jose R. Cardona Jiminan

José R. González, Member of the Board

Jose R. Mendez Bonnin

Jose R. Portilla

Jose R. Toro Rivera

Jose Ramon Gonzalez Passalacqua

Jose Ramon Rivera Rivera

Jose Santiago, Inc.

Jose W. Cartagena

Josefina Guinot Melendez

Josefina Maristany

Josefina Varela Gonzalez

Joshua Gonze

Josue Aquino-Colon

Josue Ismael Saavedra

Josue Ismael Saavedra Vera

JPMorgan Chase Bank, N.A./Custodial Trust Company

JPMorgan Chase Bank, National Association

JPMorgan Chase Bank/Correspondence Clearing

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 62 of 114
October 12, 2021

Page 62 of 113

JRAF Law Firm, PSC

JRJ Consultants & Legal Advisors, LLLC

Juan A. Hernández Rivera, Esq.

Juan Alberto Santiago Meléndez

Juan Alberto Torres Berrios

Juan B. Soto Law Offices, PSC

Juan Buono Alcaraz

Juan C. Leon Santiago

Juan C. Rodriguez Centeno

Juan G. Ortiz de la Renta

Juan L. Santa Hernandez

Juan M. Lopez Calderon

Juan Marroig

Juan Ortiz

Juan R. Figueroa Laugier

Juan Ramón Rivera Font, Esq.

Juan Reines Ortiz Retirement Plan Represented by UBS Trust Company of PR

Juan Vazquez Crespo

Juarbe-Laffitte, Michael

Judge Christopher M. Klein

Judge Judith G. Dein

Judge Laura Taylor Swain

Judge Nancy Friedman Atlas

Judge Roberta A. Colton

Judge Thomas L. Ambro

Judge Victor Marrero

Judiciary Retirement System

Julia Margarita Gonzalez Passalacqua

Julie I. Escudero

Julio A. Rivera Gonzalez

Julio E Leandry-Hernández

Julio Guzman Carcache

Julio H. Sepulveda Ramos

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 63 of 114
October 12, 2021

Page 63 of 113

Julio Rancel López

Julitzamary Soto Torres , Julianys Mercados Soto, and Julia Torres Olivencia

Junior Bus Line, Inc.

Junta del Centro de Salud Comunal Dr. Jose S. Belaval, Inc.

Jusino-Carattini, Sophia Victoria

Justin Peterson, Member of the Board

Kane Russell Coleman Logan PC

Kanoso Auto Sales Inc.

Karen Forman

Karen Odalys Fuentes Rivera

Karen Rutledge

KARIMAR CONSTRUCTION INC

Karl Walder

Karon LLC

Kasowitz Benson Torres LLP

Katherine Emile Ramos

Kathleen A. McDonough

Kathy Karen Key Trust

KDC Solar, LLC

Keila Robles Figueroa

Keiry Williamson

Kelly Services Puerto Rico

Kelly Services, Inc.

Kerenny Torres

Keybanc Cap Mkts Inc.

Keybank National Association

Kid's Therapy Services, Inc.

Klee, Tuchin, Bogdanoff & Stern, LLP

Klumper-Astor, Lauren

Knighthead Capital Management, LLC

Kobre & Kim, LLP

KPMG, LLC

Kramer Levin Naftalis & Frankel, LLP

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 64 of 114
October 12, 2021

Page 64 of 113

Kristine K. Sneeringer Trust

Kroma Advertising, Inc.

Kyle Rifkind

L.L.A.C., Inc.

La Sucesion De Norman Eugene Parkhurst Rodriguez, Compuesta Por Sus Unicos Y Universales Herederos 

Norman Parkhurst Valderas, Francis Parkhurst Valderas, Bryant Parkhurst Valderas Y Su Viuda Carmen 

P.

Labor Development Administration

Labor Relations Board

Laboratorios Ramirez Inc.

Laguna Ray, L.L.C.

Land Administration

Land Authority of Puerto Rico

LANDRAU RIVERA & ASSOC.

Lannan Foundation

Larry Hamilton

Las Americas Investment Group

Las Monjas Realty II, SE

Latham & Watkins LLP

Latimer-Rivera, Ricardo

Laura E. Climent Garcia

Law Firm of Fernando E. Agrait

Law Office Aníbal Acevedo-Vilá

Law Office of Frank Pola, Jr.

Law Offices of Giselle López Soler

LAW OFFICES OF HERRERO III & ASSOCIATES, P.S.C.

Law Offices of John E. Mudd

Law Offices of Michael Craig McCall

Law Offices Wolf Popper P.S.C.

Lawful Constitutional Debt Coalition

Lawrence B. Dvores

Lazard Cap Mkts LLC

Learning Alliance LLC

Ledesma & Vargas, LLC

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 65 of 114
October 12, 2021

Page 65 of 113

Lee Properties, Inc.

Legal Aid Clinic, UIA

Legal Partners, PSC

Legislative Assembly

Lemuel Negrón Colón

Leslie Jay Bonilla Sauder

Leslie Rubero Multi Services

Levy Echeandia Trust

Lex Claims, LLC

Lex Services PSC

Liana Rivera Olivieri

Liberty Cablevision of Puerto Rico, LLC

Lida Orta Anés

Lideliz Candelario Candelario

Liedo Alberto Pico Jr.

Light Gas Corporation

Lighthouse Translations

Lilliam Janey Disla Mencia

Lillian Guzman

Linares Palacios Law Offices

Linda Nealy

Linkactiv, Inc.

Lisa Shub

Litman Gregory Masters Alternative Strategies Fund, a Series of Litman Gregory Funds Trust

Lizette M. Abraham

Lizette Rexach Feliciano

Lloyd's Syndicates MIT 3210, KLN 510, MMX 2010, CSL 1084, TMK 1880, AML 2001, and BRT 2987 

Subscribing to Policy No. B080414390F14

Lloyd's Syndicates MSP 318, WRB 1967, and AGM 2488 Subscribing to Policy No. B0804Q11263F14

LMA SPC for and on behalf of Map 98 Segregated Portfolio

LMAP 903 Limited

Local Redevelopment Authority of the Lands and Facilities of Naval Station Roosevelt Roads

Lolita Gandarilla de Casasnovas

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 66 of 114
October 12, 2021

Page 66 of 113

Longo En-tech Puerto Rico, Inc.

López Sánchez & Pirillo, LLC

Lopez-Correa, Yarlier

Lopez-Fuentes, Maria

Lopez-Molina, Ivaniella

Lopez-Silvero Matos, Aviel

Lord Electric Company of Puerto Rico

Louis Jules Marin

Lourdes Arce Rivera

Lourdes Morales

Lourdes Perdigon

LPL Financial Corporation

LS Innovative Education Center, Inc.

LS Institutional High Income Fund

LS Strategic Income Fund

Lucas Pérez Valdivieso Torruella

Lugo Mender Group, LLC

Lugo-Emanuelli Law Offices

Lugo-Lewis, Bianca

Luis A Rivera Siaca

Luis A. Marquez Garcia

Luis A. Toro Perez M.D.

Luis Baerga

Luis E. Almeida Marin

Luis Enrique Vazquez-Zayas

Luis F. Gonzalez-Colon

Luis Fred Salgado, Esq.

Luis G. Lajara Borelli

Luis Garraton Martin

LUIS J. COSTAS-RUSSELL

Luis J. Torruella

Luis M. Olazabal

Luis Modesto Rodríguez Rivera

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 67 of 114
October 12, 2021

Page 67 of 113

Luis Montes-Valentin

Luis Polanco, Angela Bautista-Nuez, Rosana Polanco, Ana Digna Tavarez

Luis R. Rivera

Luis R. Santini Gaudier

Luis R. Santini-Gaudier

Luis Santini Lopez

Luis T. Toro Ramos

Luisa Murray Soto

Luskin Stern & Eisler LLP

Luz D. Millan

Luz Iraida Rodriguez De Vazquez

Luz J. Pasarell

Luz M Arroyo

Luz M. Arroyo Rivera

Luz M. Carrasquillo Flores

Luz Pizarro-Correa

Lydia Pellot

Lynette Castillo

M Solar Generating, LLC

M.H. Davidson & Co.

M.L. & R.E. Law Firm

MACAM S.E.

Magdalena Maldonado Rivera

Maldonado, Karen

Maldonado-Rivera, Valerie

Maldonado-Rodriguez, Ginorly

Malgor & Co. Inc.

Management Consultants & Computer Services. Inc

Mangual's Office Cleaning Service Inc.

Manpower

ManpowerGroup, Inc.

Manuel A. Quilichini Teissonniere

Manuel Dos Santos

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 68 of 114
October 12, 2021

Page 68 of 113

Manuel Natal-Albelo

Manufacturers And Traders Trust Company

Mapfre Praico Insurance Company

MAPFRE-PRAICO INSURANCE COMPANY

Marathon Asset Management, LP

Marble Ridge Capital LP

Marchand ICS Group

Marcia Gil Caraballo

Marco A. Albarran Portilla

Marco A. Albarran TC

Marcos A. Lopez

Marcos A. Roman-Lopez

Marcos De Dragoni

Margarita Guzman

Margarita Hurtado Arroyo

Margarita Maria Vincenty

MARGARITA WILSON MERCADO

MARGARO LOPEZ, INC.

María A. Martínez

Maria Aguayo De Dragoni

Maria Baco Alfaro

Maria Carmen Prats TIC

María Colón Crispin

Maria Consuelo Figueroa Torres

Maria D. Giannirakis

Maria Del C. Castro Rivera

Maria del C. López

Maria Del C. Reyes Madrazo

Maria Dolores Rodriguez Becerra

Maria E. Frontera Aymat

María E. Vicéns Rivera

María Elena Alonso Fuentes

María Fernanda Vélez Pastrana

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 69 of 114
October 12, 2021

Page 69 of 113

Maria I. Rivera Sanchez Retirement Plan, Represented By UBS Trust Company Of PR

Maria Ines Suarez Perez-Guerra

Maria Isabel Suarez

Maria Ivonne Viguie-Fernandez

Maria Judith Diaz

Maria Judith Marchand-Sanchez

María Luisa Vélez Quiñones

Maria M. Candelas Guzman

Maria M. Freiria Garraton

Maria M. Morris Dapena

Maria Mendez Crespo

Maria R. Piza

Maria Rodriguez Hernandez

Maria Teresa San Miguel

Maria Teresita Martin

María Y. Viguie Fernández

Maria-Ines Suarez Perez-Guerra

Mariani Franco Law, P.S.C.

Mariano E. Gonzalez Diez

Maribel Flores Martin

Marichal, Hernandez, Santiago & Juarbe, LLC

Marichal, Hernández, Santiago & Juarbe, LLC

Marie Algarín Serrano

Mariloly Orozco

Marilyn Chinea

Marini Pietrantoni Muñiz, LLC

Mario B. Munoz Torres

Maritime Shipping Authority

Maritza Maldonado Lopez

Maritza Nieves Torres

Marjorie Casillas Hernandez

Mark Elliott

Markel Europe

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 70 of 114
October 12, 2021

Page 70 of 113

Marlene Jaquez Urea

Marta Calderon

Marta L. Loubriel

Marta M. Toro Lopez

Martami, Inc

Martin J. Wah Reyes

Martín Peña Canal ENLACE Project Corporation

Martinez-Alvarez, Menendez Cortada & Lefranc Romero, PSC

Marylin Gonzalez Toro

Maslon LLP

Mason Capital Management, LLC

Mason Capital Master Fund, L.P.

Master Link Corp.

Matos-Nieves, Melanie

Matthew May

Matthias Rieker

Mauricio Shub

Maximiliano Trujillo-Gonzalez, Esq.

Mayaguez Cinema, Corp.

Mayaguezanos por la Salud y el Ambiente, Inc.

Mayra Gardon Stella

Mayra Grajalsperez

Mayra I. Ramos Roman

Mayra Lopez-Duprey

Mayra Olavarría Cruz

MBIA Insurance Corporation

MBIA, Inc.

MC-21 LLC

MCCONNELL VALDÉS LLC

McConnell Valdés, LLC

MCD Law, LLC

McDermott Will and Emery

McGuire Woods, LLC

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 71 of 114
October 12, 2021

Page 71 of 113

McKinsey & Company, Inc.

MCP Holdings Master LP

MCS Advantage, Inc.

MCS Health Management Options, Inc.

MCS Life Insurance Company

MCZY Bus Services Inc.

Medical Card System, Inc.

Medical Services Administration (ASEM)

Medicoop

Melmed Investment Group

Members of Sucesión Pastor Mandry Nones

Mendez & Co. Inc.

Mendez-David, Carlos

Mental Health and Addiction Services Administration

Mental Health Services and Addiction Control Administration

Merced Capital, L.P.

Merced Partners IV, L.P.

Merced Partners Limited Partnership

Merced Partners V, L.P.

Mercedes J. Almeyda Domenech

Mercedes Vicente Benitez

Merck Sharp & Dohme (I.A.) LLC

Merin Lizzette Boada Molina

Merrill Lynch Capital Services, Inc.

Merrill Lynch Pierce Fenner & Smith/Fixed Income

Merrill Lynch, Pierce Fenner & Smith Safekeeping

Merrill Lynch, Pierce, Fenner & Smith Incorporated

Mesirow Financial, Inc.

Metric Engineering, Inc.

Metro Center Associates

Metro Pavia Health System

MGIC Indemnity Corporation

Michael A. Gonzalez Vega

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 72 of 114
October 12, 2021

Page 72 of 113

Michael E. Danuz Reyes

Michael J. Brown

Michael J. Seralles

Michael Melendez

Michica International Co., Inc.

Microsoft Corporation

Migrant Health Center, Inc.

Miguel A. Beauchamps Ramos

Miguel Ángel Serrano-Urdaz

Miguel Fabre

Miguel Ortiz

Miguel Palou Sabater

Miguel Pomales Castro

Milagros Acevedo

Milagros Ayoroa Santaliz

Milagros Castells Santiago

Milagros Del C. Aponte Hernandez

Milagros Mendez Arvelo

MILBANK LLP

Milbank, Tweed, Hadley & McCloy LLP

Miranda Cruz & Associates, PSC

Miranda-Giribaldi, Jan

Mirela Roznovschi

Miriam Sanchez Lebron

Mitchell De Jesus-Soto

Mitchell F. Winslow

Mitsubishi Motor Sales of Caribbean, Inc

Mitsubishi u/f/j Trust & Banking Corporation, New York

MMM Healthcare, Inc.

MMM Healthcare, LLC

Model Forest

Monarch Alternative Capital LP

Monarch Alternative Solutions Master Fund Ltd

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 73 of 114
October 12, 2021

Page 73 of 113

Monarch Capital Master Partners II LP

Monarch Capital Master Partners III LP

Monarch Capital Master Partners IV LP

Monarch Debt Recovery Master Fund Ltd.

Monarch Recovery Ltd.

Monarch Special Opportunities Master Fund Ltd.

Monitor SN

Monserrate Simonet & Gierbolini, LLC

Monsita Lecaroz Arribas

Montilla-Alvarado, Camelia

Moore & Van Allen PLLC

Moore Irrevocable Trust U\A 12/8/87, James B. Moore Trustee, a trust and its trustee

Moore Revocable Trust USA 12/8/87

Moraima S. Ríos-Robles

Morell, Bauzá, Cartagena & Dapena

Morgan Keegan & Co

Morgan Stanley

Morgan Stanley & Co. LLC

Morgan Stanley Smith Barney LLC

Morgan Stanley Wealth Management (On Behalf Of Sakamoto-Hata Living Trust)

Morgan, Lewis & Bockius LLP

Morovis Community Health Center, Inc.

Morrison & Foerster LLP

MOVIMIENTO DE CONCERTACION CIUDADANA INC.

MPR Investors LLC

MR LUIS DUPREY-RIVERA

Mudanzas Torres, Inc.

Multi Clean Services Inc.

Munger Tolles & Olson LLP

Municipal Revenue Collection Center

Municipalities of Caguas

Municipalities of San Juan

Municipality of Adjuntas

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 74 of 114
October 12, 2021

Page 74 of 113

Municipality of Aguada

Municipality of Aguadilla

Municipality of Aguas Buenas

Municipality of Aibonito

Municipality of Añasco

Municipality of Arecibo

Municipality of Arroyo

Municipality of Barceloneta

Municipality of Barranquitas

Municipality of Bayamón

Municipality of Cabo Rojo

Municipality of Caguas

Municipality of Camuy

Municipality of Canóvanas

Municipality of Carolina

Municipality of Cataño

Municipality of Cayey

Municipality of Ceiba

Municipality of Ciales

Municipality of Cidra

Municipality of Coamo

Municipality of Comerío

Municipality of Corozal

Municipality of Culebra

Municipality of Dorado

Municipality of Fajardo

Municipality of Florida

Municipality of Guánica

Municipality of Guayama

Municipality of Guayanilla

Municipality of Guaynabo

Municipality of Gurabo

Municipality of Hatillo

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 75 of 114
October 12, 2021

Page 75 of 113

Municipality of Hormigueros

Municipality of Humacao

Municipality of Isabela

Municipality of Jayuya

Municipality of Juana Díaz

Municipality of Juncos

Municipality of Lajas

Municipality of Lares

Municipality of Las Marías

Municipality of Las Piedras

Municipality of Loiza

Municipality of Luquillo

Municipality of Manatí

Municipality of Maricao

Municipality of Maunabo

Municipality of Mayagüez

Municipality of Moca

Municipality of Morovis

Municipality of Naguabo

Municipality of Naranjito

Municipality of Orocovis

Municipality of Patillas

Municipality of Peñuelas

Municipality of Ponce

Municipality of Quebradillas

Municipality of Rincón

Municipality of Rio Grande

Municipality of Sabana Grande

Municipality of Salinas

Municipality of San Germán

Municipality of San Juan

Municipality of San Lorenzo

Municipality of San Sebastián

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 76 of 114
October 12, 2021

Page 76 of 113

Municipality of Santa Isabel

Municipality of Toa Alta

Municipality of Toa Baja

Municipality of Trujillo Alto

Municipality of Utuado

Municipality of Vega Alta

Municipality of Vega Baja

Municipality of Vieques

Municipality of Villalba

Municipality of Yabucoa

Municipality of Yauco

MUNIZ BURGOS CONTRACTORS, CORP.

Muniz Melendez Investments Corp.

Muñoz Benitez Brugueras & Cruz

Musical Arts and Stagecraft Corporation

Musical Arts Corporation

Myrta Lopez-Molina

N. Harris Computer Corporation

Nancy J. Gargula, United States Trustee for Region 21

Nancy Pujals

Narciso Camejo Gonzalez

Natalie Jaresko, Executive Director & Interim Revitalization Coordinator

National College of Business and Technology Company, Inc.

National Copier & Office Supplies, Inc.

National Financial Services LLC

National Guard of Puerto Rico

National Public Finance Guarantee Corporation

Natixls Investmemt Fund UK ICVC- LS Strategic Income Fund

Natural Resources Administration

Navarro-Cabrer Law Offices

Nazario Briceño Law Offices, LLC

Neftalí Soto Santiago

Nelson D. Rosario Garcia

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 77 of 114
October 12, 2021

Page 77 of 113

NELSON ROBLES-DIAZ LAW OFFICES, P.S.C.

NeoMed Center, Inc.

Netwave Equipment Corp.

Nevares, Sanchez-Alvarez & Cancel PSC

Newtyn Partners, LP

Newtyn TE Partners LP

Next Level Learning, Inc.

Nextgen Healthcare, Inc.

Nexvel Consulting LLC

NIBA International Corp.

Nicolás Iturregui Margarita

Nidco Management Group Retirement Plan, Represented By UBS Trust Company Of PR

Nilda Navarro-Cabrer

Nokota Capital Master Fund, L.P.

Norberto Tomassini

Norma Bernier Casanova

Northern Trust Company/Future Fund Accounts

Northern Trust Company/OCH-ZIFF Capital Management

Norton Rose Fulbright US LLP

NTT Data Eas, Inc.

Nustream Communications Corp

Nuveen Asset Management, LLC

Nydia E. Chéverez Rodríguez

Nydia F. Morales

Nydia M. Morales

Nydia Z. Jimenez Sanchez

O’Neill & Borges, LLC

Oaktree Huntington Investment Fund II, LP

Oaktree Opportunities Fund IX (Parallel 2), L.P.

Oaktree Opportunities Fund IX (Parallel), LP

Oaktree Opportunities Fund IX Delaware, L.P.

Oaktree Opportunities Fund IX, L.P.

Oaktree Opportunities Fund X (Parallel 2), LP

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 78 of 114
October 12, 2021

Page 78 of 113

Oaktree Opportunities Fund X (Parallel), LP

Oaktree Opportunities Fund X Holdings (Delaware), L.P.

Oaktree Opportunities Fund X, LP

Oaktree Opps X Holdo Ltd.

Oaktree Value Opportunities Fund Holdings, L.P.

Oaktree Value Opportunities Fund, L.P.

Oaktree-Forrest Multi-Strategy, L.L.C.

Oaktree-Forrest Multi-Strategy, LLC (Series B)

Oaktree-Forrest Strategy, LLC (Series B)

Oceana Master Fund Ltd.

Ocher Rose, L.L.C.

Off Hill Strategies, LLC

Office for Community and Socioeconomic Development of Puerto Rico

Office of Administration and Transformation of Human Resources in the Government of Puerto Rico

Office of Court Administration

Office of Electoral Comptroller

Office of Government Ethics of Puerto Rico

Office of Industrial Tax Exemption

Office of Legislative Services

Office of Management and Budget

Office of Municipal Management

Office of the Commissioner of Financial Institutions

Office of the Commissioner of Insurance

Office of the Comptroller

Office of the Financial Institutions Commissioner

Office of the Governor

Office of the Inspector General

Office of the OMBUDSMAN

Office of the OMBUDSMAN - Elders and Pensioners

Office of the OMBUDSMAN - Patients and Health

Office of the OMBUDSMAN - Persons with Disabilities

Office of the OMBUDSMAN - Veterans

Office of the OMBUDSMAN - Women

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 79 of 114
October 12, 2021

Page 79 of 113

Office of the Solicitor - Special Independent Prosecutor

Official Committee of Retired Employees of Puerto Rico

Ojeda-Bracero, German

Olazabal-Infante, Luis

Old Bellows Partners LP

Olga I. Trinidad Nieves

Olga M. Rabell Rosa

Olimac Manufacturing Corporation

Oliveras & Ortiz Law Offices, PSC

Olivieri-Geigel & Co.

Omar Cuadrado

O'Melveny & Myers, LLP

O'Neill Security & Consultant Serv Inc.

Oppenheimer & Co. Inc.

Oppenheimer Funds, Inc.

Opps Culebra Holdings, L.P.

Optionsxpress, Inc.

Oracle America, Inc.

Oracle Caribbean, Inc.

Orben Irizarry Robles

Oriana Energy LLC

Oriental Bank

Orlando Arroyo-Morales

Orlando Fernández Law Offices

Orlando Ortiz-Cintron, Esq.

Orlando Torres Berrios

ORONOZ & ORONOZ

Orrick, Herrington & Sutcliffe, LLP

Ortega-Cabrera, Minerva

Ortiz-Menes, Arturo

Ortiz-Torres, Camila

Oscar A. Remus Abreu

Oscar F. Arroyo Oliveras

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 80 of 114
October 12, 2021

Page 80 of 113

Oscar Gonzalez Badillo

Oscar X. Ocasio Gonzalez

Osvaldo Antommattei Frontera

Osvaldo Toledo Martinez, Esq.

Otero and Associates

OZ Credit Opportunities Master Fund, Ltd.

OZ Enhanced Master Fund, Ltd.

OZ GC Opppportunities Master Fund, Ltd

OZ Management II, LP

OZ Management LP

OZ Master Fund, Ltd.

OZSC II, L.P.

P. R. Used Oil Collectors, Inc.

P. Schoenfeld Asset Management LP

Pablo Del Valle Rivera

Padial-Guzman, Ana

Pan Amerircan Grain Co., Inc.

Panaderia la Sevillana, Inc.

Pandora Select Partners, L.P.

Pandora Select Partners, LP as Transferee of Syncora Guarantee Inc.

Parole Board

Partnerre Ireland Insurance DAC

Patricia Hixson

Patricia L. Seifert

Pattern Energy Group, Inc.

Pattern Santa Isabel LLC

Paul Davis

Paul Hastings, LLP

Paul, Weiss, Rifkind, Wharton & Garrison, LLP

Pavia & Lazaro, PSC

PBJL Energy Corporation

PDCM Associates, SE

Peaje Investments, LLC

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 81 of 114
October 12, 2021

Page 81 of 113

Pearson Education, Inc.

Pearson Pem P.R., Inc.

Pedro A. Vargas-Fontánez

Pedro Carbonera Pardo

Pedro Cid Martinez

Pedro Iturregui Margarida

Pedro L. Casasnovas Balado

Pedro Manuel Vincenty Guzman

Pedro Nicot Santana, Esq.

Pedro R. Callazo

Pedro Rodriguez Tirado

Peerless Oil & Chemicals, Inc.

Pelican Fund LP

Pension Trustee Advisors, Inc.

Pentwater Merger Arbitrage Master Fund Ltd.

People Television, Inc.

Pereira Vazquez, Taina

Perez-Delgado, Madelyn

Perez-Perez, Paola

Perfect Cleaning Services, Inc.

Performance Chemicals Company, Inc.

Perkins Coie LLP

Permal Stone Lion Fund Ltd

Permits Management Office

Perrinjaquet-Cruz, Olivier

Pershing LLC

Personnel Recruiting Services, Corp.

Peter C. Hein

PFZ Properties, Inc.

Phoenix Management Services, LLC

Phyllis A. Hemmerly

Physician HMO Inc.

Picó & Blanco, LLC

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 82 of 114
October 12, 2021

Page 82 of 113

Pietrantoni Méndez & Alvarez LLC

Pilar O. Bonnin

Pinehurst Partners, L.P.

Piper Jaffrey & Co

PJT Partners

Plan de Salud Menonita, Inc.

Planning Board

Plaza Escorial Cinema, Corp.

PLC Law

PLUMBING & SEWER CLEANING RUS CORP.

Plummer, Jacqueline Renée Ann

PNC Bank, National Association

POLYMER INDUSTRIES INC

Ponce De Leon Gun Shop Inc.

Ponce Port Authority

Popular Auto, LLC

Popular High Grade Fixed Income Fund, Inc.

Popular Income Plus Fund, Inc.

Popular Securities, LLC

Popular, Inc.

Populicom, Inc.

Port of the Americas Authority

Ports Authority

Postage By Phone Reserve Account

PR and the Caribbean Cardiovascular Center Corp

PR Aqueduct and Sewer Authority

PR Federal Affairs Administration

PR Infrastructure Finance Authority

PR Maritime Shipping Authority

PR Medical Services Administration

Pretrial Services Program

Prime Clerk, LLC

Prime Seg 15/00

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 83 of 114
October 12, 2021

Page 83 of 113

Printech, Inc.

Prisma SPC Holdings Ltd - Segregated Portfolio AG

Procesos de Informatica, Inc.

Professional Consulting Psychoeducational Services, LLC

Professional Records and Information Management, Inc.

Program of Youth Affairs

Promotions & Direct, Inc.

Proskauer Rose, LLP

Prosol-Utier

Prospero Tire Export, Inc.

Providencia Cotto Perez

PRV Law Office

PSV & Co, PSC

Public Broadcasting Corporation

Public Building Authority

Public Corporation for the Supervision and Deposit Insurance of Puerto Rico Cooperatives

Public Corporation for the Supervision and Insurance of Cooperatives of Puerto Rico

Public Housing Administration

Public Service Appellate Commission

Public Service Commission

Public Service Regulatory Board

Public-Private Partnership Authority

Puerto Nuevo Security Guards, Inc. 

Puerto Rico AAA Portfolio Bond Fund II, Inc.

Puerto Rico AAA Portfolio Bond Fund, Inc.

Puerto Rico AAA Portfolio Target Maturity Fund, Inc.

Puerto Rico and Municipal Islands Transport Authority

Puerto Rico Aqueduct and Sewer Authority

Puerto Rico Bathroom Remodeling, Inc.

Puerto Rico Conservatory of Music Corporation

Puerto Rico Convention Center District Authority

Puerto Rico Council on Education

Puerto Rico Department of Justice

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 84 of 114
October 12, 2021

Page 84 of 113

Puerto Rico Education Council

Puerto Rico Electric Power Authority

Puerto Rico Energy Administration

Puerto Rico Energy Bureau

Puerto Rico Energy Commission

Puerto Rico Firefighter Corps

Puerto Rico Fiscal Agency and Financial Advisory Authority

Puerto Rico Fixed Income Fund II, Inc.

Puerto Rico Fixed Income Fund III, Inc.

Puerto Rico Fixed Income Fund IV, Inc.

Puerto Rico Fixed Income Fund V, Inc.

Puerto Rico Fixed Income Fund VI, Inc.

Puerto Rico Fixed Income Fund, Inc.

Puerto Rico GNMA & U.S. Government Target Maturity Fund, Inc.

Puerto Rico Health Insurance Administration

Puerto Rico Highways and Transportation Authority

Puerto Rico Horse Owners Assocation, Inc.

Puerto Rico Industrial Development Company

PUERTO RICO INDUSTRIAL DEVELOPMENT COMPANY (PRIDCO)

Puerto Rico Industrial, Tourist, Educational, Medical, and Environmental Control Facilities Financing 

Authority

Puerto Rico Infrastructure Finance Authority

Puerto Rico Integrated Transit Authority

Puerto Rico Investors Bond Fund I, Inc.

Puerto Rico Investors Tax- Free Fund III, Inc.

Puerto Rico Investors Tax- Free Fund Inc. II

Puerto Rico Investors Tax- Free Fund IV, Inc.

Puerto Rico Investors Tax- Free Fund V, Inc.

Puerto Rico Investors Tax- Free Fund VI, Inc.

Puerto Rico Investors Tax- Free Fund, Inc.

Puerto Rico Investors Tax-Free Fund V, Inc.

Puerto Rico Investors Tax-Free Fund, Inc.

Puerto Rico Land Administration

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 85 of 114
October 12, 2021

Page 85 of 113

Puerto Rico Legal Advocates, PSC

Puerto Rico Maritime Shipping Authority

Puerto Rico Medical Defense Insurance Company

Puerto Rico Medical Services Administration

Puerto Rico Metropolitan Bus Authority

Puerto Rico Mortgage-Backed & U.S. Government Securities Fund, Inc.

Puerto Rico Municipal Finance Agency

Puerto Rico National Guard

Puerto Rico Police Bureau

Puerto Rico Ports Authority

Puerto Rico Public Broadcasting Corporation

Puerto Rico Public Buildings Authority

Puerto Rico Public Private Partnerships Authority

Puerto Rico Sales Tax Financing Corporation

Puerto Rico School of Plastic Arts

Puerto Rico Supplies Group Inc.

Puerto Rico Telephone Authority

Puerto Rico Telephone Company d/b/a Claro

Puerto Rico Telephone Company, Inc.

Puerto Rico Tourism Company

Puerto Rico Trade and Export Company

PV Properties, Inc.

PWCM Master Fund Ltd

Quality & Reliable Services Inc.

Quality Equipment, Inc.

Quality Systems, Inc. 

QUEST DIAGNOSTICS OF PUERTO RICO, INC.,

Quinn Emanuel Urquhart & Sullivan, LLP

Quinones Vargas Law Offices

Quinones-Salim, Jose

QUINTERO CONSTRUCTION S E

R Hughes and J Hughes TTee Hughes Family Trust

R. Cordova Trabajadores Sociales C S P

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 86 of 114
October 12, 2021

Page 86 of 113

R. Hughes and J. Hughes Ttee Hughes Family Trust

Radames Muniz

Rae Marie Dougan

Rafael A. Ortiz-Mendoza

Rafael A. Quinones Soto

Rafael Bonilla Rivera

Rafael Bracero Torres

Rafael Cavo Santoni

Rafael Enrique Ducos Bravo

Rafael Hernandez Barreras

Rafael Rodriguez Quintana

RAFAEL ROMAN-JIMENEZ

Rafaela Fernandez

Ralphi E. Dominicci Rivera

Rama Construction LLC

Ramirez & Co.

Ramirez and Co., Inc.

Ramirez Bus Line Inc.

Ramirez-Cisneros, Daniel

Ramón A. Bonilla Martínez

Ramon Colon-Gonzalez

Ramon M. Ruiz Comas

Ramón M. Ruiz, Interim Executive Director of the Board

Ramon Ruiz Comas

Ramon Torres Rodriguez, Esq.

Ramón Vidal Nadal

Ramone E. Morales dba Morales Distributors

Ramos & Ramos Realty Inc

Ramos Collazo, Rolando

Ramos Gonzalez & Toyos Olascoaga, CSP

Rancel Bus Service, Inc.

Raoul Smyth

Raul A Darauche Andujar

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 87 of 114
October 12, 2021

Page 87 of 113

Raúl E. Casasnovas Balado

Raul Jaime Vila Selles

Raul Ramirez

Raylin Bus Line Corp.

Raymond James

Raymond James & Associates, Inc.

Raymond Rivera Morales

RB Law Offices

RBC Capital Markets, LLC

RBC Dominion Securities Inc./CDS**

Ready & Responsible Security, Inc. 

Redwood Master Fund, Ltd

Reed Smith, LLP

Regions Bank

REICHARD & ESCALERA

REICHARD & ESCALERA LLC

Reichard & Escalera, LLC

Reinaldo Vincenty Perez

Reliable Equipment Corporation

Reliable Health Services Corp.

Rene Patricio Lopez-Duprey

Rene Pinto-Lugo

Rene Rios Pena

Rene Torres Ortiz

Reno & Cavanaugh, PLLC

ReSun (Barceloneta), LCC

Retirement Association of AEE

Rexach & Picó, CSP

Rexach Hermanos, Inc.

Reyes Contractor Group, Inc.

Rhonda M. Castillo Gammill

Ricardo Alegria

RICARDO ANTONIO ROSSELLÓ NEVARES

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 88 of 114
October 12, 2021

Page 88 of 113

Ricardo Estrada Maisonet

Ricardo L. Castillo Filippetti, Esq.

Ricardo L. Ortiz-Colón, Esq.

Ricardo Levy Echeandia and Lourdes Arce Rivera, abd Laura Levy

Ricardo R. Fuentes

Ricardo Rosello Nevares

Richard D. Seifert

Richard F. Levy Echeandia

Richard W. Knapp Credit Shelter Trust S/B/O Margaret A. Knapp 07/28/2016

Richards Kibbe & Orbe LLP

Rickenbach Ojeda Attorneys at Law PSC

Ricoh Puerto Rico, Inc.

Rieker, Matthias

Rifkind, Kyle

Rincon Health Center, Inc.

Rio Grande Community Health Center, Inc.

Rio Hondo Cinema, Corp.

Rios-Munoz, Vivian

River Canyon Fund Management, LLC

Rivera Colón, Rivera Torres & Rios Berly, PSC

Rivera, Tulla and Ferrer, LLC

RJ Hughes Sbtulwt Re Hughes UAD 05/28/2012 Robert B. Hughes TTee

RM Children’s Trust

Robbins, Russell, Englert, Orseck, Untereiner & Sauber, LLP

Robert B. Faber

Robert Kazmierski

Robert Ramos Martin

Robert W. Baird & Co. Incorporated

Robert Wong

Roberto del Toro Morales

Roberto Luis Camacho Jusino

Roberto Maldonado Law Office

Roberto Marrero Diaz

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 89 of 114
October 12, 2021

Page 89 of 113

Roberto Perez Colon

Roberto Quiles

Roberto Torres Lugo

Robles-Cruz, Carlos

Roche Diagnostics Corporation

Rochelle McCullough, LLP

Rock Solid Technologies, Inc.

Rocket Learning, LLC

Rocket Teacher Training, LLC

Rodriguez Banchs, CSP

Rodriguez Marxuach Law Offices, PSC

RODRÍGUEZ MARXUACH, PSC

Rodriguez-Alvarez, Amaury

Rodriguez-Burns, Francisco

Rodriguez-Nieves, Joana

Rodriguez-Parissi & Co., C.S.P.

Rolon Nieves, Veronica

Ronald Klempner

Ronald Ramos

Ronald Ramos Martin

Roosevelt & Cross

Roosevelt Roads Naval Station Redevelopment

Ropes & Gray LLP

Rosa E. Lespier Santiago

Rosa M. Aguayo Pacheco

Rosa M. Pierluisi

Rosa Rosario De Morales

Rosalina Ortiz De Jesus

Rosario Colon, Ryan

Rosario Pacheco

Rosario-De Jesus, Paola

Rosa-Schellhorn, Benjamin

Rose Marie Flores-Perez

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 90 of 114
October 12, 2021

Page 90 of 113

Rosemarie Vizcarrondo

Rosendo E. Miranda López, Esq.

Roshell Soto Garcia

Rossana Lopez Leon

Rosso Group, Inc.

Rosso-Tridas, Lizzie

Rothschild & Co US Inc.

Roy Robertson

RPP Law, PSC

RRW I LLC

Ruiz-Morales, Carla Paola

Ruth Valdes de Adsuar

S & L Development S.E.

S.H.V.P. Motor Corp.

Sabiamed Corporation

Saldaña & Saldaña Egozcue, PSC

Saldaña, Carvajal & Vélez-Rivé, PSC

Salichs Pou & Associates, PSC

Salud Integral en la Montana

Salvador Rovira Rodriguez

Sammy Baez-Figueroa

Samuel A. Pena Ortiz

Samuel Gracia-Gracia

Samuel Rodriguez Claudio

Sanabria Bauermeister Garcia & Berio

Sanchez Pirillo LLC

Sandra Ayala Cruz

Sandra Maclay De Serralles

Sanford C. Bernstein & Co., LLC

Sanjenis-Cardona, Alejandro

Santander Asset Management, LLC

Santander Securities, LLC

Santi Law Office

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 91 of 114
October 12, 2021

Page 91 of 113

Santiago Ramirez, Ana Maria

Santin-Martinez, Cristina

SANTOS BERRIOS LAW OFFICE LLC

Santos Gonzalez Morales

Santos Mulero Sierra

Santos-Sanchez, Cesar

Sara E. De Jesus De Pico

Sarlaw LLC

Saybolt LP

SB Special Situation Master Fund SPC, Segregated Portfolio D

SCHOENFELD Asset Management LP

School of Plastic Arts

Schulete Roth & Zabel LLP

SCHULTE ROTH & ZABEL LLP

Sciemus Limited

Scoggin International Fund Ltd.

Scoggin Management LP

Scoggin Worldwide Fund Ltd.

Scotia MSD

Scotiabank de Puerto Rico

Scottrade, Inc.

Sculptor Capital LP (f/k/a OZ Management LP)

Sculptor Capital Management

Sculptor Credit Opportunities Master Fund, Ltd. (f/k/a OZ Credit Opportunities Master Fund, Ltd.),

Sculptor Enhanced Master Fund, Ltd. (f/k/a OZ Enhanced Mater Fund, Ltd.),

Sculptor GC Opportunities Master Fund, Ltd. (f/k/a OZ GC Opportunities Master Fund, Ltd.)

Sculptor Master Fund, Ltd. (f/k/a OZ Master Fund, Ltd.),

Sebastian Negron

Securities & Exchange Commission

Seda & Perez Ochoa, PSC

SEDA & PÉREZ-OCHOA, P.S.C.

Segal Consulting

Seguros Colon Colon, Inc.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 92 of 114
October 12, 2021

Page 92 of 113

SEI Private Trust Company

SEI Private Trust Company/C/O GWP

SEIU Local 1199/Union General de Trabajadores

SEIU Local 1996/Sindicato Puertoriqueno de Trabajadores y Trabajadores

Semper Innova Corporation

Senate

Senator Global Opportunity Master Fund LP

Senator Investment Group LP

Sepulvado & Maldonado, PSC

Sepulvado Maldonado & Couret

Sepulveda-Echegaray, Eric

Serengeti Asset Management, LP

Sergio Rodriguez

Service Employees International Union

Service Employees International Union and United Auto Workers International Union

Service Group Consultant Inc.

Servicio de Transportacion Juan Carlos Inc.

Servicios Profesionales Integrados a la Salud, Inc.

Servidores Publicos Unidos de Puerto Rico

Servidores Públicos Unidos, AFSCME Council 95

Sesco Technology Solutions, LLC

Shalini Gupta

Shearman & Sterling LLP

Sheppard Mullin Richter & Hampton LLP

Shindler Anderson & Goplerud, P.C.

Sidley Austin LLP

Siemens Corporation

Siemens Transportation Partnership Puerto Rico, S.E.

Sierra Club Puerto Rico, Inc.

Sign Language Interpreters, Inc.

Silver Point Capital Fund, L.P.

Silver Point Capital Offshore Master Fund, L.P.

Silver Point Capital, L.P.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 93 of 114
October 12, 2021

Page 93 of 113

Silvia Batista Castresana

Silvia Consuelo Blasini Batista

Simpson Thacher & Bartlett LLP

Sistema de Retiro de los Empleados de la Autoridad de Energía Eléctrica (SREAEE)

Sistema Universidad Ana G Mendez

Skadden, Arps, Slate, Meagher & Floam LLP

SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP

Skanska USA Building Inc.

SKY HIGH ELEVATORS CORP 

SL Liquidation Fund LP

SL Puerto Rico Fund II LP

SL Puerto Rico Fund LP

Small Business Administration

Socioeconomic Development of the Family Administration

Socio-Economic Development Office

Softek, Inc.

Sola Ltd

Solid Waste Authority

Solomon Page

Solus Alternative Asset Management LP

Solus Opportunities Fund 5 LP

Solymar Castillo Morales

Somos, Inc. 

Sonia Ivette Carrasquillo Calderón

Sonnedix USA Services Limited

Sophie Aalaei

South Parcel of Puerto Rico, SE

Southwest Securities, Inc.

Special Claims Committee of the Financial Oversight and Management Board

Special Communities Perpetual Trust

Special Independent Prosecutor Panel

SSB - Blackrock Institutional Trust

SSB - Trust Custody

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 94 of 114
October 12, 2021

Page 94 of 113

SSB&T Co/Client Custody Services

SSM & Associates, Inc.

St. James Security Services, LLC

State Elections Commission

State Historic Conservation Office

State Historic Preservation Office

State Insurance Fund Corporation

State Office of Energy Public Policy

State Street Bank & Trust/State Street TotalETF

State Street Bank and Trust Company

Statistics Institute of PR

Stephen S. McMillin

Stephens Inc.

Stericycle

Sterne, Agee & Leach, Inc.

Stifel, Nicolaus & Company, Incorporated

Stockcross Financial Services, Inc.

Stoever Glass & Co.

Stone Lion IE, a fund of Permal Account Platform ICAV

Stone Lion L.P

Stradling Yocca Carlson & Rauth, PC

Strategic Income Fund-MMHF

Stroock & Stroock & Lavan, LLP

Stuart Dwork

Sucesión Díaz Bonet compuesta por sus herederos

Sucesion Francisco Xavier Gonzalez Goenaga

Sucesion Mandry Mercado

Sucesión Pastor Mandry Mercado

Sucesión Sastre Wirshing

SUCN Oscar Rodriguez Crespo

Sucre Concepcion, Gerardo Javier

Suiza Dairy Corporation

Super Asphalt Pavement Corporation

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 95 of 114
October 12, 2021

Page 95 of 113

Super Plastico, Inc.

Superintendent of the Capitol

Supreme Court

Susman Godfrey LLP

Suzette Abraham

Suzette Abraham Vizcarrando

Suzuki del Caribe, Inc.

SV Credit, L.P.

Sweney Cartwright Co

Sylvia I. Martinez Calimano

Syncora Capital Assurance, Inc.

Syncora Guarantee Inc.

T R C Companies

Taconic Capital Advisors L.P.

Taconic Capital Advisors, L.P.

Taconic Master Fund 1.5 L.P.

Taconic Opportunity Master Fund L.P.

Tactical Equipment Consultants, Inc.

Tallaboa Industrial Deveopment, Inc.

Taller de Desarollo Infantil y Prescolar Chiquirimundi Inc.

Tamrio, Inc.

TARGET ENGINEERING S E 

Tasman Fund LP

Tatito Transport Service Inc.

Tax-Free Puerto Rico Fund II, Inc.

Tax-Free Puerto Rico Fund, Inc.

Tax-Free Puerto Rico Target Maturity Fund, Inc.

TCM Capital

TD Ameritrade Clearing, Inc.

TD Prime Services LLC

Teachers’ Retirement System

TEC Contractors, LLC

TEC General Contractors, Corp.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 96 of 114
October 12, 2021

Page 96 of 113

Telecommunications Bureau

Telecommunications Regulatory Board

Telefonica Larga Distancia de Puerto Rico, Inc.

Tens Development, L.L.C.

Teresa N. Fortuna Garcia

Teresa R. Miller

Thamari Gonzalez Martinez

the Asociación de Maestros de Puerto Rico

The Bank of New York Mellon

The Bank of New York Mellon, As Trustee, Under the Trust Agreement Dated March 1, 2015 Between the 

Puerto Rico Infrastructure Authority and the Bank of New York Mellon, and Fir Tree Inc. As Successor in 

Interest, To RBC Municipal Markets, LLC, As Owner Representative Under the Noteholder Agreement 

Dated March 1, 2015 Relating To Puerto Rico Infrastructure Authority Dedicated Tax Revenue Bond 

Anticipation Notes Series 2015

The Bank of New York Mellon/FMS Bonds, Inc.

The Bank of New York Mellon/Mellon Trust of New England, National Association

The Bank of New York Mellon/Nomura Bank Int'l PLC

The Bank of New York/FMSBonds, Inc.

The Bank of New York/Popular Securities, Inc.

The Bank of Nova Scotia

The Belaval Burger Grandchildren Trust, represented by UBS Trust Company of Puerto Rico

The Boston Consulting Group, Inc.

The Canyon Value Realization Master Fund, L.P.

The Children’s Trust Fund

The Estate of Daniela Moure

The Estate of Yesmin Galib Frau composed by Yesmin Marie, Lucas P., María Teresa and María Cristina 

Leonor Valdivieso Galib

The Estates of Gabriel Fuentes Vázquez and Evangelina Benejam-Otero, Comprised by Gabriel, Jorge L. 

and Jose R. Fuentes-Benejam

The Financial Attorneys, P.S.C.

The Garffer Group of Legal Advisors, LLC

The Hector L. Gonzalez Cruz Retirement Plan, represented by UBS Trust Company of Puerto Rico

The Hefler Family Trust

The Huntington National Bank

The Jesus Golderos Trust

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 97 of 114
October 12, 2021

Page 97 of 113

The Law Offices of Andres W. Lopez, P.S.C.

The Madeline Torres Figueroa Retirement Plan, Represented By UBS Trust Company of Puerto Rico

The Northern Trust Company

The Official Committee of Unsecured Creditors

The Unitech Engineering Group, S.E.

The Värde Skyway Master Fund, L.P.

Thelma Vidal

Thomas Quinn

THOMAS RIVERA-SCHATZ

Tilden Park Capital Management LP

Tilden Park Investment Master Fund LP

Timber Hill LLC

Tito Ramirez Bus Service Inc.

Tomas Correa Acevedo

TORO COLÓN MULLET P.S.C.

Toro, Colon, Mullet, Rivera & Sifre, P.S.C.

Total Petroleum Puerto Rico Corp.

Tourism Company

Tradewinds Energy Barceloneta, LLC.

Tradewinds Energy Vega Baja, LLC

Traditional Lottery

Traffic Safety Commission

Trafigura Argentina S.A.

Trafigura Beheer B.V.

Trafigura Limited

Trafigura Trading LLC

Transcore Atlantic, Inc.

Transit Safety Commission

Transportation and Public Works

Transporte Escolar S S Inc.

Transporte Sonnel Inc.

Transporte Urbina Inc.

Trent and Jodene Lareau Revocable Trust

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 98 of 114
October 12, 2021

Page 98 of 113

Trinity Metal Roof and Steel Structure Corp.

Trinity Services I, LLC

Triple - S Salud, Inc.

Truenorth Corp.

Tson-Kuang Wu and Mu-Niau Wu Tr, Wu Trust UA 04-27-1999

U.S. Bank National Association as Trsutee

U.S. Bank Trust National Association

U.S. Department of Justice, Civil Division

UBARRI & ROMÁN LAW OFFICE

UBS Financial Services Inc

UBS Financial Services Inc.

UBS Financial Services, Inc. of Puerto Rico

UBS IRA Select Growth & Income Puerto Rico Fund

UBS Securities LLC

UBS Trust Company

UBS Trust Company of Puerto Rico

Ultra Master LTD

Ultra NB LLC

Ulysses Offshore Fund, Ltd.

Ulysses Partners, LP

UMB Bank, National Association

Unemployment Insurance Fund

UNETE

Union Bank & Trust Company

Union Bank, N.A.

UNION DE EMPLEADOS DE OFICINA COMERCIO Y RAMAS ANEXAS, PUERTOS

UNION DE EMPLEADOS DE OFICINA Y PROFESIONALES DE LA AUTORIDAD DE EDIFICIOS 

PUBLICOS

UNION DE EMPLEADOS PROFESIONALES INDEPENDIENTES

Union de Medicos de la Corporacion del Fondo del Seguro del Estado Corp.

Unión de Trabajadores de la Industria Eléctrica y Riego

Union De Trabajadores Trabajadores de La Industria Electrica Y Riego, Inc.

Union Employees Office Commerce

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 99 of 114
October 12, 2021

Page 99 of 113

Union Holdings, Inc.

UNION INDEPENDIENTE DE EMPLEADOS DE LA AUTORIDAD DE ACUEDUCTOS Y 

ALCANTARILLADOS

UNION INSULAR DE TRABAJADORES INDUSTRIALES Y CONSTRUCCIONES ELECTRICAS 

INC.

UNION NACIONAL DE EDUCADORES Y TRABAJADORES DE LA EDUCACION

Union of Office Employees and Professionals of AEP

Union of Professional Employees Independent

United Auto Workers International Union

United States Attornery for the Southern District of New York

United States Department Of Agriculture - Rural Development

United States Department of Justice

United States District Court, District of Massachusetts

United States of America

United States Postal Services

United Surety & Indemnity Company

Universal Care Corp. (Unicare)

Universal Group, Inc.

Universal Insurance Company

Universal Life Insurance Company

Universidad Central del Caribe, Inc.

Universidad Interamericana, Inc.

University of Puerto Rico

University of Puerto Rico Comprehensive Cancer Center

UPR Comprehensive Cancer Center

US Army Corps of Engineers

US Attorney for the District of Puerto Rico

US Bank National Association

US Bank Trust, National Association

US Department of Agriculture

US Department of Commerce

US Department of Education

US Department of Health and Services

US Department of Justice

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 100 of 114
October 12, 2021

Page 100 of 113

US Department of Labor

US Trustee for the District of Puerto Rico

USAA Invest Mgmt Co

USAA Investment Management Company

VAB Financial

Valdes Ortiz Law Offices, PA

Valdes-Valderrama, Julio

Valentin Morales Camacho 

Valenzuela-Alvarado, LLC

Valmont Industries, Inc. 

Value Sales Corporation

VAMOS Citizens' Concertacion Movement

Vanguard Marketing Corporation

Värde Credit Partners Master, L.P.

Värde Investment Partners (Offshore) Master, L.P.

Värde Investment Partners, L.P.

Värde Partners, Inc.

Vargas-Villegas, Carlos

Vazquez Y Pagan Bus Line, Inc.

Velazquez-Negron, Paola

Velez-Lugo, Alexandra

Veronica Ferraiuoli Hornedo

Veterans Advocate Office

Víctor Calderón Cestero

Victor L. Ortiz Perez

Victor M. Rivera

Victor R. Merle Vargas

Victor Santiago Frontera

Vidal, Nieves & Bauza LLC

VIIV Healthcare Puerto Rico, LLC

Vilarino & Associates, LLC

Vilma Teresa Torres López

Vilmarie Ayala Cruz

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 101 of 114
October 12, 2021

Page 101 of 113

Viñas Law Office, LLC

Virgilio Fernando Acevedo Rivera

Virginia Selden

Vision Financial Markets LLC

Vitol S.A.

Vitol, Inc.

Vivian Hernandez Vinas

Vivian Purcell

Viviana Ortiz Mercado

VMC Motor Corp.

Vocational Rehabilitation Administration

Voya Institutional Trust Company

Voz Activa, Inc.

VR Advisory Services, LTD.

VR Global Partners, L.P.

Wachtell, Lipton, Rosen & Katz

Wal-Mart Puerto Rico Inc.

Walter Alomar Jiménez

Walter Pomales

Walter R. Martinez Rodriguez

Warlander Asset Management, LP

Warren Min

Wedbush Securities Inc.

WEG Electric Corp.

Weil, Gotshal & Manges, LLP

Weinstein-Bacal, Miller & Vega, P.S.C.

Wells Fargo / Safekeep

Wells Fargo Bank, N.A./Sig

Wells Fargo Bank, National Association

Wells Fargo Clearing Services LLC AKA or FKA First Clearing LLC

Wells Fargo Municipal Bond Fund

Wells Fargo Securities, LLC

Wells Fargo Wisconsin Tax Free Fund

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 102 of 114
October 12, 2021

Page 102 of 113

Wells Fargo/SafeKeep

Wesbanco Bank, Inc.

West Corporation

Western Surety Company and Continental Casualty Company

WF Computer Services, Inc.

White & Case, LLP

White Box Advisors LLC

Whitebox Advisors LLC

Whitebox Asymmetric Partners, LP

Whitebox Asymmetric Partners, LP as Transferee of Syncora Guarantee Inc.

Whitebox Caja Blance Fund, LP as Transferee of Syncora Guarantee Inc.

Whitebox GT Fund, LP as Transferee of Syncora Guarantee Inc.

Whitebox Institutional Partners, L.P.

Whitebox MultiStrategy Partners, L.P.

Whitebox Multi-Strategy Partners, LP as Transferee of Syncora Guarantee Inc.

Whitebox Term Credit Fund I L.P

Whitefish Energy Holdings, LLC

Whitefort Capital Master Fund, LP

Whitehaven Asset Management, LP

Wide Range Corp.

Wilbert Lopez Moreno & Asociados

Wilfredo Vazquez Olivencia

William Blair & Company, L.L.C.

William Cruz Soto

William D. Dougan JR Ten WRAS

William M. Vidal-Carvajal Law Office, P.S.C.

William Medina-Ruiz

William Rifkin

William Rivera Transport Service Inc.

William Santiago-Sastre, Esq.

William Shuzman

William Soto Santiago

Williams & Jensen, PLLC

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 103 of 114
October 12, 2021

Page 103 of 113

Willkie Farr & Gallagher, LLP

WILLKIE, FARR & GALLAGHER LLP

Wilson Rivera Ortiz

Windmar Renewable Energy SE

Windmar Renewable Energy, Inc.

Winston & Strawn LLP

Wollmuth Maher & Deutsch LLP

Women's Advocate Office

WorldNet Telecommunications, Inc.

Wynndalco Enterprises, LLC

Xerox Corporation

Xiomara Bermudez Rios

Xiomara Rivera-Cruz

Yanmarie Socarras

Yarely Lugo Rosa

YASHEI ROSARIO

YFN Yabucoa Solar, LLC

Yohana De Jesús Berríos

Yolanda Cano- Ángeles

Young Conaway Stargatt & Taylor, LLP

Yvonne Baerga Varela

Zapata-Colon, Ana

Zapata-Hernandez, Hilton

Zayas-Torres, Edward

Zoe Partners LP

Zolfo Cooper, LLC

Zoraida Buxó Santiago

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 104 of 114
October 12, 2021

Page 104 of 113

APPENDIX D

CONTRACTOR CERTIFICATION REQUIREMENT

The following certification shall be provided to the Oversight Board by each Contractor under contracts 

submitted for review:

1. The Contractor’s subcontractor(s) in connection with the contract is (are) the following:

2. Neither the Contractor nor any of its owners, directors, officials or employees, has agreed to share or 

give a percentage of the Contractor’s compensation under the contract to, or otherwise compensate, any 

third party, whether directly or indirectly, in connection with the procurement, negotiation, execution 

or performance of the contract, except as follows:

(Name of individual or firm, including names of principals or owners of the latter) (Principal terms and 

conditions of the compensation sharing arrangement)

3. To the best knowledge of the signatory (after due investigation), no person has unduly intervened in 

the procurement, negotiation or execution of the contract, for its own benefit or that of a third person, 

in contravention of applicable law.

4. To the best knowledge of the signatory (after due investigation), no person has: (i) offered, paid, or 

promised to pay money to; (ii) offered, given, or promised to give anything of value to; or (iii) otherwise 

influenced any public official or employee with the purpose of securing any advantages, privileges or 

favors for the benefit of such person in connection with the contract (such as the execution of a 

subcontract with Contractor, beneficial treatment under the contract, or the written or unwritten promise 

of a gift, favor, or other monetary or non-monetary benefit).

5. Neither the Contractor, nor any of its owners, directors, officials or employees or, to the best of its 

knowledge (after due investigation), its representatives or sub-contractors, has required, directly or 

indirectly, from third persons to take any action with the purpose of influencing any public official or 

employee in connection with the procurement, negotiation or execution of the contract.

The above certifications shall be signed by the Chief Executive Officer (or other officer with equivalent 

position or authority to issue such certifications) of the Contractor.

In the event that a Contractor is not able to provide any of the above certifications, such Contractor shall 

provide a written statement setting forth the reasons therefor.

[Signature Page Follows]

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 105 of 114

October 12, 2021

Page 106 of 113

APPENDIX E

FOMB EXPENSE REIMBURSEMENT

Financial Oversight and Management Board for Puerto Rico

June 30, 2017

Expense Reimbursement Policy

1. Introduction

The Board of Members of the Financial Oversight and Management Board for Puerto Rico (“the Board”) 

recognizes that board members, officers, staff, and contractors* of the Board may be required to travel or 

incur in other expenses from time to time to conduct Board business.

The Reimbursed Expenses Policy (the “Policy”) is designed to govern the reimbursement of reasonable, 

defined expenses incurred on authorized Board activities. Consequently, all reimbursed expenses must be 

consistent with a business objective and carried out in a timely and cost-effective manner.

This Policy applies to board members, officers, staff, and contractors* who incur authorized and approved 

travel and other expense items in the context of the Board’s business. While exceptions are not normally

permitted, there is clear recognition of certain special business needs. In any such exceptional situations, 

all board members, officers, staff, and contractors* are expected to apply a high degree of common sense 

and good judgment.

2. Purpose of the Policy

The purpose of this policy is to ensure that (a) adequate cost controls are in place, (b) travel and other 

expenditures are appropriate, and (c) to provide a uniform and consistent approach for the timely 

reimbursement of authorized expenses incurred by the Board. It is the policy of the Board to reimburse 

only reasonable and necessary expenses incurred by board members, officers, staff, and contractors.

3. Principles of the Policy

The Policy aims to provide a flexible framework for travel and other expenses based on the following 

principles:

3.1 This Policy applies to board members, officers, staff, and contractors* undertaking travel other 

expenses on Board business and for the purposes of this Policy, the term “staff” shall mean 

employees of the Board.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 107 of 114
October 12, 2021

Page 107 of 113

3.2 It is the responsibility of board members, officers, staff, and contractors* to ensure the selection

of the most direct and economical travel options and that all expenses are attributable to a valid 

Board business purpose.

3.3 Board members, officers, staff, and contractors* shall be entitled to reimbursement of expenses

on production of supporting vouchers and invoices meeting the requirements of an “Accountable 

Plan” provided under Regulation No. 8297 dated December 18, 2012 issued by the Puerto Rico 

Department of Treasury. No expense reimbursement will be allowed for amounts in excess of 

actual expenditures incurred. No expense reimbursement will be allowed for estimates of 

expenditures incurred. This includes coach-class airfare or train fare (or business class train fare if 

rates are comparable); and hotels and transportation (e.g. taxis).

3.4 It is the responsibility of the Board members, officers, staff, and contractors* to obtain travel

authorization from the Chairman of the Board, the Executive Director or Authorized Representative 

prior to organizing or incurring any travel costs [See Appendix A for Authorization Authority]. 

Expense reimbursement is subject to having received prior authorization. Exceptions shall be made 

under the consideration of the Chairman, Executive Director or Authorized Representative.

3.5 The use of video and telephone conferencing instead of travel should always be considered to

reduce travel expenses.

4. Travel Expenses

4.1 Air Travel 

4.1.1 Costs for air travel will be reimbursed on an actual cost incurred basis.

4.1.2 For all flights, board members, officers, staff, and contractors* are required to travel in a cabin class 

no higher than premium economy class and, when possible, the cheapest fare in this class.

4.1.3 Flights should be booked to provide the best value/lowest cost and fit between cost and

convenience. Board staff shall book flights through the Board’s Executive Assistant. Board 

members may book flights through the Board’s Executive Assistant or independently. Board 

contractors must book flights independently, though they are allowed to consult the Board’s 

Executive Assistant on fares the board members, officers, and staff are using. 

4.1.4 The Board will not reimburse costs incurred due to deviations from the most direct routes taken for

personal travel reasons. In such cases, if the Board purchased the ticket, the traveler must reimburse 

the Board for any additional costs over and above the authorized travel.

4.1.5 Any alteration to original travel plans must be justified and approved in accordance with the 

Policy.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 108 of 114
October 12, 2021

Page 108 of 113

4.2 Train Travel

4.2.1 The Board may reimburse travelers for their economy train fares or business class train fares when 

those fares are comparable to the equivalent, economy class airfare on the same route.

4.2.2 Board staff shall book trains through the Board’s Executive Assistant. Board Members may book 

trains through the Board’s Executive Assistant or independently. Board contractors must book trains 

independently, though they are allowed to consult the Board’s Executive Assistant on fares the board 

members, officers, and staff are using.

4.3 Hotels and Lodging

4.3.1 Accommodation costs may be reimbursed by the Board. Board members, officers, staff, and 

contractors should not exceed cost of accommodation per night published in the U.S. Government 

GSA Per Diem Rates (https://www.gsa.gov/perdiem), unless approved by the Chairman or his 

authorized representative. 

4.3.2 Board staff shall book hotels through the Board’s Executive Assistant. Board members may book 

hotels through the Board’s Executive Assistant or independently. Board contractors must book 

hotels independently, though they are allowed to consult the Board’s Executive Assistant on fares 

the Board members, officers, and staff are using.

4.4 Transportation

4.4.1 Transportation costs during trips associated to Board business will be reimbursed. Board members, 

officers, and staff* can expense the following transportation costs: 1) transportation to and from the 

airport / train station and 2) transportation to and from the meeting location. Transportation costs 

cover taxi services or equivalent (e.g. Uber, Lyft or any other transportation means).

4.5 Business Meals

4.5.1 When travelling to a location other than the Board members, officers, staff, and contractors’* local 

city, business meals are reimbursable based on the following limits:

 Breakfast: $15; Lunch: $25; Dinner: $40

 Snack expenses are reimbursable when they replace a meal.

4.5.2 If meals are provided during the meeting, only meals not provided can be expensed.

5. Other Expenses

5.1 Other expenses are reimbursable provided they are legitimate, necessary and reasonable expenses 

directly connected with or pertaining to the Board, such as office supplies, printing and reproduction, 

telephone calls, and messengers, among other.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 109 of 114
October 12, 2021

Page 109 of 113

6. Reimbursement of Expense

6.1 Travel arrangements are authorized in advance through the completion and approval of a travel 

authorization email and the validation of a travel plan between the traveler and the designated approver 

[See Appendix A]. 

6.2 Expenses are reimbursed through the completion, approval, and validation of expense report [See 

Appendix B] that the members, officers, and staff must submit to the designated approver [See 

Appendix C].

6.3 Expense claims should be submitted immediately following and, where possible, no more than 10 days 

after the completion of each trip, but at least a monthly.

6.4 In rare circumstances, and on an exceptional basis, reimbursement in excess of stated limits may be 

provided when lodging options are not available below. In such rare circumstances, the need for higher 

reimbursement shall be indicated on the attached reimbursement form and justified in writing by the 

members, officers, and staff. Reimbursement will be limited to the following:

 Lodging: average rate for available 3-star hotels listed for the applicable 

metropolitan area on Expedia;

The Chairman of the Board or his authorized representative will have sole discretion to approve or deny 

such expenditures.

6.5 Receipts are required for all expenditures billed, such as airfare and hotel charges. No expense in excess 

of $25.00 will be reimbursed to Board members, officers, staff and contractors unless the individual 

requesting reimbursement submits with the Expense Report written itemized receipts from each 

contractor (not a credit card receipt or statement) showing the contractor’s name, a description of the 

services provided (if not otherwise obvious), the date, and the total expenses. If a receipt is not available, 

a full explanation of the expense and the reason for the missing receipt is required.

6.6 Alcoholic beverages will not be reimbursed under any circumstance.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 110 of 114
October 12, 2021

Page 110 of 113

APPENDIX A: Authorization Authority

Expense to be Incurred By: Authorization From:

Board Member Chairman or Authorized Representative

Board Staff Executive Director or Authorized Representative

Board contractors Executive Director or Authorized Representative

Executive Director Chairman or Authorized Representative 

Chairman N/A

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 111 of 114
October 12, 2021

Page 111 of 113

APPENDIX B: Expense Report

Financial Management and Oversight Board for Puerto Rico

To be completed by members, officers, and staff and submitted to designated approver

DATE DESCRIPTION AIR 

FARE

GROUND 

FARE HOTEL MEALS OTHER TOTAL (1)

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

$ - 

TOTAL $ $ $ $ $ $ - 

Signature:____________________________ Date:_________________

Approved by:_________________________ Date:_________________

(1) SUBMIT RECEIPTS FOR THE AMOUNTS TO BE REIMBURSED.

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 112 of 114
October 12, 2021

Page 112 of 113

APPENDIX C: Expense Report Approval Authority

Expense Incurred By: Expense Approved By:

Board Member Chairman or Authorized Representative

Board Personnel Executive Director or Authorized Representative

Board Advisors Executive Director or Authorized Representative

Executive Director Chairman or Authorized Representative

Chairman Executive Director or Authorized Representative

[Signature Page Follows]

Case:17-03283-LTS Doc#:24695-8 Filed:06/30/23 Entered:06/30/23 12:18:50 Desc:

Exhibit 8 - Fourth A&R Engagement Letter dated Oct. 12 2021 Page 113 of 114