Document:

EX-10.66

 Exhibit 10.66 

EXECUTION COPY 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Agreement”) by and between EVERTEC GROUP, LLC, a
Puerto Rico limited liability company (the “Company”), and Philip E. Steurer (“Executive,” and collectively, the “Parties”) is made as of this
1st day of July, 2014 (the “Effective Date”). 
 WHEREAS,
Executive and the Company previously entered into an employment agreement dated August 1, 2012 (the “Original Effective Date”); and 

WHEREAS, the Parties desire to amend and restate the employment agreement pursuant to the terms, provisions and conditions set forth
herein. 
 NOW, THEREFORE, in consideration of the premises and of the mutual covenants, understandings, representations, warranties,
undertakings and promises hereinafter set forth, intending to be legally bound thereby, the Parties agree as follows: 
  

	1.	Employment Period. 

 Subject to earlier termination in accordance with Section 3 of
this Agreement, Executive shall continue to be employed by the Company until the fifth (5th) anniversary of the Original Effective Date (the “Employment Period”) unless the
parties mutually agree to extend the term at least 90 calendar days prior to the end of the Employment Period. Upon Executive’s termination of employment with the Company for any reason, Executive shall immediately resign all positions with the
Company or any of its subsidiaries or affiliates. 
  

	2.	Terms of Employment. 

 (a) Position. During the Employment Period, Executive shall
serve as Executive Vice President and Chief Operating Officer of the Company and will perform such duties and exercise such supervision with regard to the business of the Company as are associated with such positions, including such duties as may be
prescribed from time to time by the President and Chief Executive Officer of the Company (the “CEO”). Executive shall report directly to the CEO and if requested by the CEO, Executive hereby agrees to serve (without additional
compensation) as an officer and director of the Company or any affiliate or subsidiary thereof. 
 (b) Duties. During the Employment
Period, Executive shall have such responsibilities, duties, and authority that are customary for his position, subject at all times to the control of the CEO, and shall perform such services as customarily are provided by an executive of a
corporation with his position and such other services consistent with his position, as shall be assigned to him from time to time by the CEO. During the Employment Period, and excluding any periods of vacation and sick leave to which the Executive
is entitled in accordance with Company policies, the Executive agrees to devote all of his business time to the business and affairs of the Company and to use Executive’s commercially reasonable efforts to perform faithfully, effectively and
efficiently his responsibilities and obligations hereunder. 
 (c) Principal Work Location. Executive’s principal work location,
subject to travel on Company business, shall be the Company’s headquarters in Puerto Rico. 

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 (d) Compensation. 

(i) Base Salary. During the Employment Period, Executive shall receive an annual base salary in an amount equal to Two Hundred and
Eighty-Five Thousand Dollars ($285,000), less all applicable withholdings, which shall be paid in accordance with the customary payroll practices of the Company (as in effect from time to time, the “Annual Base Salary”). The
Annual Base Salary shall be prorated for partial calendar years of employment and shall be subject to annual review and possible increase as determined by the Board, in its sole discretion. 

(ii) Annual Bonus. During the Employment Period, with respect to each completed fiscal year of the Company, Executive shall be eligible
to receive a bonus (the “Bonus”) pursuant to the terms and conditions set forth in the EVERTEC Annual Performance Incentive Guidelines in effect on the date eligibility for a bonus is determined. 

(iii) Options. To the extent that Executive was granted options to purchase shares of common stock of EVERTEC, Inc., such options shall
be subject to the terms of the applicable award agreement and the applicable Equity Incentive Plan. 
 (iv) Benefits. During the
Employment Period, Executive shall be eligible to participate in all retirement, compensation and employee benefit plans, practices, policies and programs provided by the Company to other executives of the Company (except severance plans, policies,
practices, or programs) subject to the eligibility criteria set forth therein, as such may be amended or terminated from time to time. 

(v) Expenses. During the Employment Period, Executive shall be entitled to receive reimbursement for all reasonable business expenses
incurred by Executive in performance of his duties hereunder provided that Executive provides all necessary documentation in accordance with the Company’s policies. 
  

	3.	Termination of Employment. 

 (a) Death or Disability. Executive’s employment
shall terminate automatically upon Executive’s death. If Executive becomes subject to a “Disability” (as defined below) during the Employment Period, the Company may give Executive written notice in accordance with Sections 3(g) and
9(g) of its intention to terminate Executive’s employment. For purposes of this Agreement, “Disability” means Executive’s inability to perform his duties hereunder by reason of any medically determinable physical or mental
impairment for a period of six (6) months or more in any twelve (12) month period. 
 (b) Cause. Executive’s
employment may be terminated at any time by the Company for “Cause” (as defined below). For purposes of this Agreement, “Cause” shall mean Executive’s (i) commission of a felony or a crime of moral turpitude,
(ii) engaging in conduct that constitutes fraud or embezzlement, (iii) engaging in conduct that constitutes gross negligence or willful misconduct that results or could reasonably be expected to result in harm to the Company’s
business or reputation, (iv) breach of any material terms of Executive’s employment, including this Agreement, which results or could reasonably be expected to result in harm to the 

  
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Company’s business or reputation, (v) continued willful failure to substantially perform duties as Executive Vice President and Chief Operating Officer or (vi) failure to relocate
his primary residence to Puerto Rico within six (6) months following the Original Effective Date. Executive’s employment shall not be terminated for “Cause” within the meaning of clauses (iv) and (v) above unless
Executive has been given written notice by the Board stating the basis for such termination and Executive is given fifteen (15) calendar days to cure, to the extent curable, the neglect or conduct that is the basis of any such claim. 

(c) Termination Without Cause. The Company may terminate Executive’s employment hereunder without Cause at any time. 

(d) Good Reason. Executive’s employment may be terminated at any time by Executive for Good Reason upon thirty (30) calendar
days’ prior written notice following the occurrence of the event giving rise to the termination for Good Reason. For purposes of this Agreement, “Good Reason” means voluntary resignation after any of the following actions taken
by the Company without Executive’s written consent: (i) any material failure of the Company to fulfill its obligations under this Agreement, (ii) a material and adverse change to, or a material reduction of, Executive’s duties
and responsibilities to the Company, (iii) a material reduction in Executive’s then current Annual Base Salary (not including any diminution related to a broader compensation reduction that is not limited to Executive specifically and that
is not more than 10% in the aggregate), or (iv) the failure of any successor (whether by sale, reorganization, consolidation, merger or other corporate transaction) to assume this Agreement, whether in writing or by operation of law;
provided, that any such event shall not constitute Good Reason unless and until Executive shall have provided the Company with notice thereof no later than 30 calendar days following Executive’s knowledge of the occurrence of such event
and the Company shall have failed to remedy such event within 30 calendar days of receipt of such notice. 
 (e) Voluntary
Termination. Executive’s employment may be terminated at any time by Executive without Good Reason upon 30 calendar days’ prior written notice. 

(f) Termination as a Result of Expiration of the Employment Period. Unless otherwise agreed between the parties, Executive’s
employment shall automatically terminate upon expiration of the Employment Period. 
 (g) Notice of Termination. Any termination by
the Company for Cause or without Cause, or by Executive for Good Reason or without Good Reason, shall be communicated by Notice of Termination to the other party hereto given in accordance with Section 9(g). For purposes of this Agreement, a
“Notice of Termination” means a written notice that (i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of Executive’s employment under the provision so indicated and (iii) if the “Date of Termination” (as defined below) is other than the date of receipt of such notice, specifies the
termination date. The failure by Executive or the Company to set forth in the Notice of Termination any fact or circumstance that contributes to a showing of Good Reason or Cause shall not waive any right of Executive or the Company hereunder or
preclude Executive or the Company from asserting such fact or circumstance in enforcing Executive’s or the Company’s rights hereunder. 

  
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 (h) Date of Termination. “Date of Termination”
means (i) if Executive’s employment is terminated by the Company for Cause, without Cause or by reason of Disability, or by Executive for Good Reason or without Good Reason, the date of receipt of the Notice of Termination (in the case of
a termination with or without Good Reason, provided such Date of Termination is in accordance with Section 3(d) or Section 3(e)) or any later date specified therein pursuant to Section 3(g), as the case may be, (ii) if
Executive’s employment is terminated by reason of death, the date of death, and (iii) the expiration of the Employment Period, and the termination of Executive’s employment upon the date of such expiration. 

 

	4.	Obligations of the Company upon Termination. 

 (a) With Good Reason; Without
Cause. If during the Employment Period, the Company shall terminate Executive’s employment without Cause or Executive shall terminate his employment for Good Reason, then the Company will provide Executive with the following payments and/or
benefits: 
 (i) The Company shall pay to Executive as soon as reasonably practicable but no later than the 15th day of the third month following the end of the calendar year that contains the Date of Termination in a lump sum to the extent not previously paid, (A) the Annual Base Salary through the Date
of Termination, (B) the Bonus earned for any fiscal year ended prior to the year in which the Date of Termination occurs, provided that Executive was employed on the last day of such fiscal year, (C) the amount of any unpaid expense
reimbursements to which Executive may be entitled pursuant to Section 2(d)(vi) hereof and (D) any other vested payments or benefits to which Executive or Executive’s estate may be entitled to receive under any of the Company’s
benefit plans or applicable law, in accordance with the terms of such plans or law (clauses (A)-(D), the “Accrued Obligations”); and 

(ii) Subject to Section 4(e) below, after the Date of Termination, the Company will pay Executive severance in an amount equal to the
greater of (a) Executive’s Annual Base Salary and (b) amounts due under applicable laws (the “Severance Payment”). The Severance Payment shall be made in a lump sum on the date that is 60 calendar days following the
Date of Termination, subject to the terms and conditions in Section 4(e) below. 
 (b) Death or Disability. If Executive’s
employment shall be terminated by reason of the Executive’s death or Disability, then the Company will provide Executive with the Accrued Obligations. Thereafter, the Company shall have no further obligation to Executive, his estate, his
beneficiaries or his legal representatives. 
 (c) Cause; Other than for Good Reason. If Executive’s employment shall be
terminated by the Company for Cause or by Executive without Good Reason, then the Company shall have no further obligations to Executive other than for payment of the Accrued Obligations. 

(d) Expiration of the Employment Period. If Executive’s employment shall be terminated by reason of the expiration of the
Employment Period, then the Company will provide Executive with the Accrued Obligations. Thereafter, the Company shall have no further obligation to Executive or his legal representatives. 

  
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 (e) Separation Agreement and General Release. The Company’s
obligation to make the Severance Payment is conditioned on Executive’s or his legal representative’s executing a separation agreement and general release of claims related to or arising from Executive’s employment with the Company or
the termination of employment, against the Company and its affiliates (and their respective officers and directors) in a form reasonably determined by the Company, which shall be provided by the Company to Executive within five (5) calendar
days following the Date of Termination; provided, that, if Executive should fail to execute (or revokes) such release within 45 calendar days following the Date of Termination, the Company shall not have any obligation to provide the
Severance Payment. If Executive executes the release within such 45-calendar day period and does not revoke the release within seven (7) calendar days following the execution of the release, the Severance Payment will be made in accordance with
Section 4(a)(ii). 
  

	5.	Restrictive Covenants. 

 (a) In consideration of Executive’s employment and receipt
of payments hereunder, including, without limitation, the grant of options under Section 2(d), during the period commencing on the Original Effective Date and ending twelve (12) months after the Date of Termination, Executive shall not
directly, or indirectly through another person, (i) induce or attempt to induce any employee, representative, agent or consultant of the Company or any of its Affiliates or subsidiaries to leave the employ or services of the Company or any of
its affiliates or subsidiaries, or in any way interfere with the relationship between the Company or any of its affiliates or subsidiaries and any employee, representative, agent or consultant thereof or (ii) hire any person who was an
employee, representative, agent or consultant of the Company or any of its affiliates or subsidiaries at any time during the twelve-month period immediately prior to the date on which such hiring would take place. No action by another person or
entity shall be deemed to be a breach of this provision unless the Executive directly or indirectly assisted, encouraged or otherwise counseled such person or entity to engage in such activity. 

(b) Non-Competition. Executive hereby acknowledges that it is familiar with the Confidential Information (as defined below) of the
Company and its subsidiaries. Executive acknowledges and agrees that the Company would be irreparably damaged if Executive were to provide services to any person competing with the Company or any of its affiliates or subsidiaries or engaged in a
Similar Business (as defined below) and that such competition by Executive would result in a significant loss of goodwill by the Company. Therefore, Executive agrees that the following are reasonable restrictions: 

i) Similar Business: During the Employment Period, and for a term of twelve (12) months immediately after the termination of such
relationship (voluntarily or involuntarily), Executive shall not, directly or indirectly, engage in Similar Business services or activities within the Commonwealth of Puerto Rico; provided, that nothing herein shall prohibit Executive from
being a passive owner of not more than 5% of the outstanding stock of any class of a corporation which is publicly traded so long as none of such persons has any active participation in the business of such corporation. 

  
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 ii) Clients: For a period of twelve (12) months after the
termination the Executive’s employment relationship with the Company (voluntarily or involuntarily) Executive shall not, directly or indirectly, solicit or provide, without the written consent from the Company, any service for any Client, such
as those Similar Business services or activities provided by Executive during his employment relationship. 
 For purposes of this
Section 5(b) of the Agreement, the following terms shall have these meanings: 
 “Similar Business” shall mean the same or
substantially the same business activity or activities performed or engaged by Executive for, or on behalf, of the Company. 
 “Client”
shall mean any person or entity that was a client or customer of the Company at the time of termination of Executive’s employment relationship with the Company and for whom Executive provided any services on behalf of the Company or any of its
affiliates or subsidiaries at any time, during the term of five (5) years prior to such termination. 
 Executive warrants and
represents that the nature and extent of this non-competition clause has been fully explained to Executive by the Company, and that Executive’s decision to accept the same is made voluntarily, knowingly, intelligently and free from any undue
pressure or coercion. Executive further warrants and represents that he has agreed to this non-competition clause in exchange for the increase in Base Salary Executive is receiving under this Agreement. 

(c) Non-Disclosure; Non-Use of Confidential Information. Executive shall not disclose or use at any time, either during his employment
with the Company or at any time thereafter, any Confidential Information of which Executive is or becomes aware, whether or not such information is developed by him, except to the extent that such disclosure or use is directly related to and
required by Executive’s performance in good faith of duties assigned to Executive by the Company. Executive will take all appropriate steps to safeguard Confidential Information in his possession and to protect it against disclosure, misuse,
espionage, loss and theft. Executive shall deliver to the Company at the termination of his employment with the Company, or at any time the Company may request, all memoranda, notes, plans, records, reports, computer tapes and software and other
documents and data (and copies thereof) relating to the Confidential Information or the “Work Product” (as defined in Section 5(e)(ii)) of the business of the Company that Executive may then possess or have under his control. 

(d) Proprietary Rights. Executive recognizes that the Company possesses a proprietary interest in all Confidential Information and Work
Product and has the exclusive right and privilege to use, protect by copyright, patent or trademark, or otherwise exploit the processes, ideas and concepts described therein to the exclusion of Executive, except as otherwise agreed between the
Company and Executive in writing. Executive expressly agrees that any Work Product made or developed by Executive or his agents during the course of Executive’s employment, including any Work Product which is based on or arises out of Work
Product, shall be the property of and inure to the exclusive benefit of the Company. Executive further agrees that all Work Product developed by Executive (whether or not able to be protected by copyright, patent or trademark) during the course of
his employment with the Company, or 

  
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involving the use of the time, materials or other resources of the Company, shall be promptly disclosed to the Company and shall become the exclusive property of the Company, and Executive shall
execute and deliver any and all documents necessary or appropriate to implement the foregoing. 
 (e) Certain Definitions. 

(i) As used herein, the term “Confidential Information” means information that is not generally known to the public (but for
purposes of clarity, Confidential Information shall never exclude any such information that becomes known to the public because of Executive’s unauthorized disclosure) and that is used, developed or obtained by the Company in connection with
its business, including, but not limited to, information, observations and data obtained by Executive while employed by the Company concerning (A) the business or affairs of the Company, (B) products or services, (C) fees, costs and
pricing structures, (D) designs, (E) analyses, (F) drawings, photographs and reports, (G) computer software, including operating systems, applications and program listings, (H) flow charts, manuals and documentation,
(I) databases, (J) accounting and business methods, (K) inventions, devices, new developments, methods and processes, whether patentable or unpatentable and whether or not reduced to practice, (L) customers and clients and
customer or client lists, (M) other copyrightable works, (N) all production methods, processes, technology and trade secrets, and (O) all similar and related information in whatever form. Confidential Information will not include any
information that has been published in a form generally available to the public (except as a result of Executive’s unauthorized disclosure) prior to the date Executive proposes to disclose or use such information. Confidential Information will
not be deemed to have been published or otherwise disclosed merely because individual portions of the information have been separately published, but only if all material features comprising such information have been published in combination. 

(ii) As used herein, the term “Work Product” means all inventions, innovations, improvements, technical information, systems,
software developments, methods, designs, analyses, drawings, reports, service marks, trademarks, trade names, logos and all similar or related information (whether patentable or unpatentable) that relates to the Company’s actual or anticipated
business, research and development or existing or future products or services and that are conceived, developed or made by Executive (whether or not during usual business hours and whether or not alone or in conjunction with any other person) while
employed by the Company together with all patent applications, letters patent, trademark, trade name and service mark applications or registrations, copyrights and reissues thereof that may be granted for or upon any of the foregoing. 

 

	6.	Non-Disparagement. 

 During the Employment Period and at all times thereafter, neither
Executive nor his agents, on the one hand, nor the Company formally, or its executives or board of directors, on the other hand, shall directly or indirectly issue or communicate any public statement, or statement likely to become public, that
maligns, denigrates or disparages the other (including, in the case of communications by Executive or his agents, the Company or any of the Company’s officers, directors or employees. The foregoing shall not be violated by truthful responses to
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process or governmental inquiry or (ii) by private statements to the Company or any of Company’s officers, directors or employees; provided, that in the case of Executive, with
respect to clause (ii), such statements are made in the course of carrying out his duties pursuant to this Agreement. 
  

	7.	Confidentiality of Agreement. 

 The Parties agree that the consideration furnished under
this Agreement, the discussions and correspondence that led to this Agreement, and the terms and conditions of this Agreement are private and confidential. Except as may be required by applicable law, regulation, or stock exchange requirement,
neither Party may disclose the above information to any other person or entity without the prior written approval of the other. 
  

	8.	Executive’s Representations, Warranties and Covenants. 

 (a) Executive hereby
represents and warrants to the Company that: 
 (i) Executive has all requisite power and authority to execute and deliver this Agreement
and to consummate the transactions contemplated hereby, and this Agreement has been duly executed by Executive; 
 (ii) the execution,
delivery and performance of this Agreement by Executive does not and will not, with or without notice or the passage of time, conflict with, breach, violate or cause a default under any agreement, contract or instrument to which Executive is a party
or any judgment, order or decree to which Executive is subject; 
 (iii) Except as set forth on Schedule I attached hereto, Executive
is not a party to or bound by any employment agreement, consulting agreement, non-compete agreement, fee for services agreement, confidentiality agreement or similar agreement with any other person; 

(iv) upon the execution and delivery of this Agreement by the Company and Executive, this Agreement will be a legal, valid and binding
obligation of Executive, enforceable in accordance with its terms; 
 (v) Executive understands that the Company will rely upon the accuracy
and truth of the representations and warranties of Executive set forth herein and Executive consents to such reliance; and 
 (vi) as of the
date of execution of this Agreement, Executive is not in breach of any of its terms, including having committed any acts that would form the basis for a Cause termination if such act had occurred after the Original Effective Date. 

  
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 (b) The Company hereby represents and warrants to Executive that: 

(i) the Company has all requisite power and authority to execute and deliver this Agreement and to consummate the transactions contemplated
hereby, and this Agreement has been duly executed by the Company; 
 (ii) the execution, delivery and performance of this Agreement by the
Company does not and will not, with or without notice or the passage of time, conflict with, breach, violate or cause a default under any agreement, contract or instrument to which the Company is a party or any judgment, order or decree to which the
Company is subject; 
 (iii) upon the execution and delivery of this Agreement by the Company and Executive, this Agreement will be a legal,
valid and binding obligation of the Company, enforceable in accordance with its terms; and 
 (iv) the Company understands that Executive
will rely upon the accuracy and truth of the representations and warranties of the Company set forth herein and the Company consents to such reliance. 
  

	9.	General Provisions. 

 (a) Severability. It is the desire and intent of the Parties
hereto that the provisions of this Agreement be enforced to the fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought. Upon a determination that any term or provision (or any
portion thereof with the exception of the Non-Competition covenant contained in Section 5(b) of this Agreement) is invalid, illegal, or incapable of being enforced, the Parties agree that a reviewing court shall have the authority to “blue
pencil” or modify this agreement so as to render it enforceable and effect the original intent of the parties to the fullest extent permitted by applicable law. 

(b) Entire Agreement and Effectiveness. Effective as of the Effective Date, this Agreement embodies the complete agreement and
understanding among the Parties hereto with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations by or among the Parties, written or oral, which may have related to the subject
matter hereof in any way (excluding any stock options or awards granted under any equity compensation plans maintained by the Company). 

(c) Successors and Assigns. 

(i) This Agreement is personal to Executive and without the prior written consent of the Company shall not be assignable by Executive
otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by Executive’s legal representatives. 

(ii) This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. The Company will require any
successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the
same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets
as aforesaid that assumes and agrees to perform this Agreement by operation of law, or otherwise. 

  
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 (d) Governing Law. THIS AGREEMENT WILL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF PUERTO RICO, WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICTING PROVISION OR RULE (WHETHER OF THE COMMONWEALTH OF PUERTO RICO OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE LAWS OF
ANY JURISDICTION OTHER THAN THE COMMONWEALTH OF PUERTO RICO TO BE APPLIED. IN FURTHERANCE OF THE FOREGOING, THE INTERNAL LAW OF THE COMMONWEALTH OF PUERTO RICO WILL CONTROL THE INTERPRETATION AND CONSTRUCTION OF THIS AGREEMENT, EVEN IF UNDER SUCH
JURISDICTION’S CHOICE OF LAW OR CONFLICT OF LAW ANALYSIS, THE SUBSTANTIVE LAW OF SOME OTHER JURISDICTION WOULD ORDINARILY APPLY. 
 (e)
Enforcement. 
 (i) Arbitration. Except for disputes arising under Sections 5 and 6 of this Agreement (including, without
limitation, any claim for injunctive relief), any controversy, dispute or claim arising out of or relating to this Agreement, or its interpretation, application, implementation, breach or enforcement which the Parties are unable to resolve by mutual
agreement, shall be settled by submission by either Executive or the Company of the controversy, claim or dispute to binding arbitration in San Juan, Puerto Rico (unless the Parties agree in writing to a different location), before a single
arbitrator in accordance with the Employment Dispute Resolution Rules of the American Arbitration Association then in effect. In any such arbitration proceeding the Parties agree to provide all discovery deemed necessary by the arbitrator. The
decision and award made by the arbitrator shall be accompanied by a reasoned opinion, and shall be final, binding and conclusive on all Parties hereto for all purposes, and judgment may be entered thereon in any court having jurisdiction thereof.
The Company will bear the totality of the arbitrator’s and administrative fees and costs. Each party shall bear its or his litigation costs and expenses; provided, however, that the arbitrator shall have the discretion to award
the prevailing party reimbursement of its or his reasonable attorney’s fees and costs. Upon the request of any of the parties, at any time prior to the beginning of the arbitration hearing the parties may attempt in good faith to settle the
dispute by mediation administered by the American Arbitration Association. The Company will bear the totality of the mediator’s and administrative fees and costs. 

(ii) Remedies. All remedies hereunder are cumulative, are in addition to any other remedies provided for by law and may, to the extent
permitted by law, be exercised concurrently or separately, and the exercise of any one remedy shall not be deemed to be an election of such remedy or to preclude the exercise of any other remedy. 

(iii) Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT. 

  
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 (f) Amendment and Waiver. The provisions of this Agreement may be
amended and waived only with the prior written consent of the Company and Executive and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall be construed as a waiver of such provisions or affect the validity,
binding effect or enforceability of this Agreement or any provision hereof. 
 (g) Notices. Any notice provided for in this Agreement
must be in writing and must be either personally delivered, mailed by first class mail (postage prepaid and return receipt requested) or sent by reputable overnight courier service (charges prepaid) in an envelope marked “confidential” to
the recipient at the address below indicated or at such other address or to the attention of such other person as the recipient party has specified by prior written notice to the sending party. Notices will be deemed to have been given hereunder and
received when delivered personally, five calendar days after deposit in the U.S. mail and one calendar day after deposit for overnight delivery with a reputable overnight courier service. 

If to the Company, to: 
 EVERTEC
GROUP, LLC 
 GENERAL COUNSEL AND HUMAN RESOURCES SENIOR VICE PRESIDENT 

Carr #176, Km 1.3 
 Cupey Bajo,
Rio Piedras Puerto Rico 00926 
 P.O. Box 364527 

San Juan, Puerto Rico 00936-4527 

Telephone: (787) 759-9999 

with a copy (which shall not constitute notice) to: 

McConnell Valdés LLC 

EVERTEC GROUP, LLC’S CLIENT SERVICE COORDINATOR (“CSC”) 

PO Box 364225 
 San Juan, Puerto
Rico 00936-4225 
 Telephone: (787) 759-9292 

If to Executive, to: 

Executive’s home address most recently on file with the Company. 

(h) Withholdings Taxes. The Company may withhold from any amounts payable under this Agreement such federal, state and local taxes as
may be required to be withheld pursuant to any applicable law or regulation. 
 (i) Survival of Representations, Warranties and
Agreements. All representations, warranties and agreements contained herein shall survive the consummation of the transactions contemplated hereby indefinitely. 

  
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 (j) Descriptive Headings. The descriptive headings of this
Agreement are inserted for convenience only and do not constitute a part of this Agreement. All references to a “Section” in this Agreement are to a section of this Agreement unless otherwise noted. 

(k) Construction. Where specific language is used to clarify by example a general statement contained herein, such specific language
shall not be deemed to modify, limit or restrict in any manner the construction of the general statement to which it relates. The language used in this Agreement shall be deemed to be the language chosen by the Parties to express their mutual
intent, and no rule of strict construction shall be applied against any Party. 
 (l) Counterparts. This Agreement may be executed in
separate counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 

(m) Section 409A. Notwithstanding anything herein to the contrary, this Agreement is intended to be interpreted and applied so
that the payment of the benefits set forth herein either shall either be exempt from the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), or shall comply with the requirements of such
provision. Notwithstanding anything in this Agreement or elsewhere to the contrary, distributions upon termination of Executive’s employment may only be made upon a “separation from service” as determined under Section 409A of
the Code. Each payment under this Agreement or otherwise shall be treated as a separate payment for purposes of Section 409A of the Code. In no event may Executive, directly or indirectly, designate the calendar year of any payment to be made
under this Agreement or otherwise which constitutes a “deferral of compensation” within the meaning of Section 409A of the Code. All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in
accordance with the requirements of Section 409A of the Code. To the extent that any reimbursements pursuant to this Agreement or otherwise are taxable to Executive, any reimbursement payment due to Executive shall be paid to Executive on or
before the last calendar day of Executive’s taxable year following the taxable year in which the related expense was incurred; provided, that, Executive has provided the Company written documentation of such expenses in a timely
fashion and such expenses otherwise satisfy the Company’ expense reimbursement policies. Reimbursements pursuant to this Agreement or otherwise are not subject to liquidation or exchange for another benefit and the amount of such reimbursements
that Executive receives in one taxable year shall not affect the amount of such reimbursements that Executive receives in any other taxable year. Notwithstanding any provision in this Agreement to the contrary, if on the date of his termination from
employment with the Company Executive is deemed to be a “specified employee” within the meaning of Code Section 409A and the Final Treasury Regulations using the identification methodology selected by the Company from time to time, or
if none, the default methodology under Code Section 409A, any payments or benefits due upon a termination of Executive’s employment under any arrangement that constitutes a “deferral of compensation” within the meaning of Code
Section 409A shall be delayed and paid or provided (or commence, in the case of installments) on the first payroll date on or following the earlier of (i) the date which is six (6) months and one (1) calendar day after
Executive’s termination of employment for any reason other than death, and (ii) the date of Executive’s death, and any remaining payments and benefits shall be paid or provided in accordance with the normal payment dates specified for
such payment or benefit. Notwithstanding any of the foregoing to the contrary, the Company and its respective officers, 

  
 12 

 EXECUTION COPY 

 
 
directors, employees, or agents make no guarantee that the terms of this Agreement as written comply with, or are exempt from, the provisions of Code Section 409A, and none of the foregoing
shall have any liability for the failure of the terms of this Agreement as written to comply with, or be exempt from, the provisions of Code Section 409A. 

[SIGNATURE PAGE FOLLOWS] 

  
 13 

 EXECUTION COPY 

 
 IN WITNESS WHEREOF, the Parties hereto have executed this Amended
and Restated Employment Agreement as of the date first written above. 
  

			
	EVERTEC Group, LLC
	
	 /s/ Peter Harrington

	Name:	 	Peter Harrington
	Title:	 	President & Chief Executive Officer
	
	PHILIP E. STEURER
	
	 /s/ Philip E. Steurer

	Title:	 	Executive Vice President & Chief Operating Officer

  

 EXECUTION COPY 

 
 SCHEDULE I 

Other Agreements 
 Restrictive Covenant
Agreement (for Employees in Other States) between Philip E. Steurer and First Data Corporation 

  
 15EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (the “Agreement”) is made
and entered into effective as of June 16, 2014 (the “Effective Date”), by and between REGULUS THERAPEUTICS INC., a Delaware corporation (the
“Company”), and PAUL C. GRINT, M.D. (the “Executive”). The Company and the Executive are hereinafter collectively referred to as the
“Parties”, and individually referred to as a “Party”. From and following the Effective Date, this Agreement shall replace and supersede that certain Offer Letter Agreement
between Executive and Regulus Therapeutics Inc. dated April 25, 2014 (the “Prior Agreement”). 

RECITALS 

WHEREAS, the Company desires to employ Executive to provide personal services to the Company, and wishes
to provide Executive with certain compensation and benefits in return for his services, and Executive wishes to be so employed and to receive such benefits; and 

WHEREAS, the Company and Executive wish to enter into this Agreement to define their mutual rights and
duties with respect to Executive’s compensation and benefits. 
 NOW, THEREFORE, in consideration
of the mutual promises and covenants contained herein, and for other good and valuable consideration, the Parties, intending to be legally bound, agree as follows: 

AGREEMENT 
  

	 	1.	EMPLOYMENT. 

 1.1 Term. The term of this Agreement shall begin on
the Effective Date, and shall continue until terminated in accordance with Section 5 herein. 
 1.2 Title. The Executive shall
serve as the Company’s Chief Medical Officer and shall serve in such other capacity or capacities as the Board of Directors of the Company (the “Board”) may from time to time prescribe, but only as consistent with the
customary duties of a Chief Medical Officer. The Executive will also initially be a member of the Regulus Strategic Committee and may continue such membership as determined by the Chief Executive Officer of the Company in his sole discretion. 

1.3 Duties. The Executive shall report to the Chief Executive Officer of the Company and shall do and perform all reasonable services,
acts or things necessary or advisable to manage and conduct the business of the Company and which are normally associated with the position of a Chief Medical Officer, consistent with the bylaws of the Company and as required by the Board or the
management of the Company. 
 1.4 Location. The Executive shall perform services pursuant to this Agreement at the Company’s
offices located in San Diego, California, or at any other place at which the Company maintains an office; provided, however, that the Company may from time to time require the Executive to travel temporarily to other locations in connection with the
Company’s business. 

  
 1. 

	 	2.	LOYAL AND CONSCIENTIOUS PERFORMANCE. 

2.1 Loyalty. During the Executive’s employment by the Company the Executive shall devote the Executive’s full business
energies, interest, abilities and productive time to the proper and efficient performance of the Executive’s duties under this Agreement. 

2.2 Non-Company Business. While employed by the Company, Executive shall not, without the Company’s prior written consent,
(i) render to others, services of any kind for compensation, or engage in any other business activity that would materially interfere with the performance of Executive’s duties under this Agreement, or (ii) directly or indirectly,
whether as a partner, employee, creditor, shareholder, or otherwise, promote, participate or engage in any activity or other business competitive with the Company’s business. Executive may serve as a member of the board of directors of other
companies or organizations provided that Executive notifies the Board in advance of commencing any such membership and the Board determines that such membership does not conflict with Executive’s obligations to the Company. Executive shall not
invest in any company or business which competes in any manner with the Company; provided that, Executive may, without violating this section, own, as a passive investment, shares of capital stock of a publicly-held corporation that engages
in competition if (i) such shares are actively traded on an established national securities market in the United States, (ii) the number of shares of such corporation’s capital stock that are owned beneficially (directly or
indirectly) by the Executive represents less than one percent of the total number of shares of such corporation’s outstanding capital stock, and (iii) Executive is not otherwise associated directly or indirectly with such corporation or
with any affiliate of such corporation. 
  

	 	3.	COMPENSATION OF THE EXECUTIVE. 

3.1 Base Salary. The Company shall pay the Executive a base salary at the rate of $360,500 per year (the “Base
Salary”), less payroll deductions and all required withholdings, payable in regular bi-weekly payments or otherwise in accordance with Company policy. Such Base Salary shall be prorated for any partial year of employment on the basis of
a 365-day fiscal year. 
 3.2 Discretionary Bonuses. In addition to the Base Salary, the Executive will be eligible to receive a
yearly discretionary merit bonus pursuant to the Company’s annual performance bonus plan, with a target amount of such bonus equal to 35% of Executive’s Base Salary (the “Annual Bonus”). Whether Executive receives
an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Board in its sole discretion based upon the Company’s and Executive’s achievement of objectives and milestones to be determined on an
annual basis by the Board. Executive must remain an active employee through the end of the applicable performance period in order to earn an Annual Bonus for that year and any such bonus will be paid in a lump sum prior to March 15 of the year
following the year in which Executive’s right to such amount became vested. 

  
 2. 

 3.3 Equity Compensation. Contingent on your commencement of employment and subject to
approval by the Board (or the Compensation Committee of the Board, if applicable), you will be granted a stock option under the Company’s 2012 Equity Incentive Plan (the “Plan”) to purchase 250,000 shares of the
Company’s common stock, with an exercise price per share equal to the closing price of the Company’s common stock on the date of grant. The option will vest with respect to 25% of the shares subject to the option on the one year
anniversary of the Effective Date and in equal monthly installments thereafter over the next three years, subject to your continued service to the Company and the terms of the Plan. In addition, you will also be granted 100,000 performance-based
options which will only vest upon achievement of specified Company performance goals. The details of these options will be further outlined in the grant notice and will also be subject to your continued service to the Company and the terms of the
Plan. The Board may grant additional stock, stock options, or other equity awards to Executive in its sole discretion. 
 3.4 Changes to
Compensation. It is anticipated that the Executive will be considered on an annual basis for merit increases in base compensation consistent with performance and market trends but subject to Board approval in its sole discretion. Subject to
Section 5.3 below, the Executive’s compensation may be changed from time to time in the Company’s sole discretion based upon Board approved changes to the Company’s operating plan after considering relevant business conditions.

 3.5 Employment Taxes. All of the Executive’s compensation and payments under this Agreement shall be subject to customary
withholding taxes and any other employment taxes as are commonly required to be collected or withheld by the Company. 
 3.6
Benefits. The Executive shall, in accordance with Company policy and the terms of the applicable plan documents, be eligible to participate in benefits under any executive benefit plan or arrangement which may be in effect from time to time and
made available to the Company’s executive or key management employees. 
 3.7 Vacations and Holidays. In accordance with Company
policies, Executive shall be entitled to accrue three weeks of paid vacation during each calendar year, subject to applicable maximum accrual caps; and Executive shall also be entitled to certain paid holidays. The Company may modify any of its
benefit plans or policies, including its vacation and holiday policies, from time to time in its sole discretion. 
 3.8 Expenses.
The Company will reimburse Executive for reasonable travel, entertainment or other expenses incurred by Executive in furtherance or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s
expense reimbursement policy as in effect from time to time. For the avoidance of doubt, to the extent that any reimbursements payable to Executive are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended
(the “Code”): (a) to be eligible to obtain reimbursement for such expenses Executive must submit expense reports within 45 days after the expense is incurred, (b) any such reimbursements will be paid no later than
December 31 of the year following the year in which the expense was incurred, (c) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (d) the right to
reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 

  
 3. 

	 	4.	DEFINITIONS. 

 For purposes of this Agreement, the following terms shall
have the following meanings: 
 4.1 Cause. “Cause” for the Company to terminate Executive’s employment
hereunder means the occurrence of any of the following events: (i) Executive’s commission of any felony or any crime involving fraud, dishonesty or moral turpitude under the laws of the United States or any state thereof;
(ii) Executive’s attempted commission of, or participation in, a fraud or act of dishonesty against the Company; (iii) Executive’s intentional, material violation of any contract or agreement between the Participant and the
Company (including this Agreement) or of any statutory duty owed to the Company; (iv) Executive’s unauthorized use or disclosure of the Company’s confidential information or trade secrets; or (v) Executive’s gross
misconduct. 
 4.2 Change in Control. For purposes of this Agreement, “Change in Control” means: the
occurrence of any one or more of the following events: (i) any person (within the meaning of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended), other than Isis Pharmaceuticals, Inc. or Alnylam Pharmaceuticals,
becomes the owner, directly or indirectly, of securities of the Company representing more than 50% of the combined voting power of the Company’s then outstanding securities (other than in connection with a transaction involving the issuance of
securities by the Company the principal purpose of which is to raise capital for the Company); (ii) there is consummated a merger, consolidation or similar transaction to which the Company is a party and the stockholders of the Company
immediately prior thereto do not own outstanding voting securities representing more than 50% of the combined outstanding voting power of the surviving entity immediately following such merger, consolidation or similar transaction or more than 50%
of the combined outstanding voting power of the parent of the surviving entity immediately following such merger, consolidation or similar transaction; or (iii) there is consummated a sale, lease exclusive license or other disposition of all or
substantially all of the consolidated assets of the Company and its subsidiaries, other than a sale, lease or other disposition of all or substantially all of the consolidated assets of the Company and its subsidiaries to an entity more than 50% of
the combined voting power of which is owned immediately following such disposition by the stockholders of the Company immediately prior thereto. 

4.3 Complete Disability. “Complete Disability” shall mean the inability of the Executive to perform the
Executive’s duties under this Agreement because the Executive has become permanently disabled within the meaning of any policy of disability income insurance covering employees of the Company then in force. In the event the Company has no
policy of disability income insurance covering employees of the Company in force when the Executive becomes disabled, the term Complete Disability shall mean the inability of the Executive to perform the Executive’s duties under this Agreement
by reason of any incapacity, physical or mental, which the Board, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board, determines can be expected to result in death or expected to last for a continuous
period of more than 12 months. Based upon such medical advice or 

  
 4. 

 
opinion, the determination of the Board shall be final and binding and the date such determination is made shall be the date of such Complete Disability for purposes of this Agreement. The
Company shall act upon this Section in compliance with the Family Medical Leave Act (if applicable to the Company), the Americans with Disabilities Act (as amended), and applicable state and local laws. 

4.4 Good Reason. “Good Reason” for the Executive to terminate the Executive’s employment hereunder
shall mean the occurrence of any of the following events without the Executive’s consent; provided however, that any resignation by the Executive due to any of the following conditions shall only be deemed for Good Reason if: (i) the
Executive gives the Company written notice of the intent to terminate for Good Reason within 90 days following the first occurrence of the condition(s) that the Executive believes constitutes Good Reason, which notice shall describe such
condition(s); (ii) the Company fails to remedy, if remediable, such condition(s) within 30 days following receipt of the written notice (the “Cure Period”) of such condition(s) from the Executive; and
(iii) Executive actually resigns his employment within the first 15 days after expiration of the Cure Period: 
 4.4.1 a
material breach of this Agreement by the Company; 
 4.4.2 a material reduction by the Company of the Executive’s Base Salary
as initially set forth herein or as the same may be increased from time to time; 
 4.4.3 a material reduction in the
Executive’s authority, duties or responsibilities; or 
 4.4.4 the Company relocates the facility that is the Executive’s
principal place of business with the Company to a location that requires an increase in the Executive’s one-way driving distance by more than 35 miles. 
  

	 	5.	COMPENSATION UPON TERMINATION. 

 5.1
Death Or Complete Disability. If the Executive’s employment with the Company is terminated as a result of Executive’s death or Complete Disability, the Company shall pay to Executive, and/or Executive’s heirs, the
Executive’s Base Salary and accrued and unused vacation benefits earned through the date of termination at the rate in effect at the time of termination, less standard deductions and withholdings, and the Company shall thereafter have no
further obligations to the Executive and/or Executive’s heirs under this Agreement. 
 5.2 With Cause or Without Good Reason;
Termination during first Six Months of Employment. If the Executive’s employment with the Company is terminated (i) at any time either by the Company for Cause or by the Executive without Good Reason or (ii) prior to the six-month
anniversary of the Effective Date, by the Company without Cause or by the Executive with Good Reason, then in either case the Company shall pay the Executive’s Base Salary and accrued and unused vacation benefits earned through the date of
termination at the rate in effect at the time of termination, less standard deductions and withholdings, and the Company shall thereafter have no further obligations to the Executive under this Agreement. 

  
 5. 

 5.3 Without Cause or for Good Reason after Six Months of Employment. If on or after the
date that is six months following the Effective Date, the Executive’s employment with the Company is terminated by the Company without Cause, or Executive resigns for Good Reason, and in either case Executive signs a waiver and release of
claims (in substantially the form attached hereto as Exhibit A, or in such other form of release as the Company may require (the “Release”)) on or within the time period set forth therein, but in no event later than
45 days after Executive’s termination date, and allows such Release to become effective in accordance with its terms (such latest permitted date on which the Release could become effective, the “Release Deadline”),
then Executive will receive the following benefits: 
 5.3.1 Severance Payment. A payment equal to the equivalent of 12 months of
the Executive’s Base Salary (the “Severance Payment”), less standard deductions and withholdings, which shall be paid in a single lump sum within five days after the effective date of the Release. For the avoidance of
doubt, the Severance Payment shall relate to the Base Salary at the rate in effect during the last regularly scheduled payroll period immediately preceding the date of the termination, and prior to any reduction in Base Salary that would permit the
Executive to voluntarily terminate employment for Good Reason. 
 5.3.2 Equity Acceleration. Contingent on the effective date of the
Release, all of the outstanding stock options, restricted stock or other equity awards that Executive holds with respect to the Company’s common stock shall accelerate and vest such that all shares shall be vested and fully exercisable as of
the effective date of Executive’s termination of employment. In order to give effect to the foregoing provision, notwithstanding anything to the contrary set forth in Executive’s equity award agreements, following any termination of
Executive’s employment that is without Cause or for Good Reason on or after the date that is six months following the Effective Date, none of Executive’s equity awards shall terminate with respect to any vested or unvested portion subject
to such award before the later of (A) the effective date of the Release, or (B) the Release Deadline. 
 5.4 Additional Change
in Control Related Severance Benefits. In the event that on or after the date that is six months following the Effective Date, Executive’s employment with the Company is terminated without Cause or Executive resigns for Good Reason within
the one month period immediately preceding or the twelve month period immediately following the effective date of a Change in Control, then subject to the Executive’s delivery to the Company of an effective Release as required pursuant to
Section 5.3, Executive shall be entitled to all of the severance benefits described under Section 5.3 above, provided that: 

5.4.1 The Executive shall additionally be entitled to a lump sum payment equivalent to the Executive’s target Annual Bonus that
was in effect at the time of Executive’s termination (the “Bonus Payment”). The Bonus Payment shall be subject to all standard deductions and withholdings and shall be paid in a single lump sum within five days after the
later of (A) the effective date of the Release, or (B) the effective date of the Change in Control (if Executive’s termination occurs prior to the Change in Control), but in no event later than March 15 of the year following the
year in which Executive’s termination of employment occurred. 

  
 6. 

 5.5 Termination by Mutual Agreement of the Parties. The Executive’s employment
pursuant to this Agreement may be terminated at any time upon mutual agreement, in writing, of the Parties. Any such termination of employment shall have the consequences specified in such writing. 

5.6 Survival of Certain Provisions. Sections 6 and 18 shall survive the termination of this Agreement. 

 

	 	6.	CONFIDENTIAL AND PROPRIETARY INFORMATION; NONSOLICITATION. 

6.1 As a condition of employment, Executive agrees to execute and abide by the Employee Confidential Information and Inventions
Agreement attached hereto as EXHIBIT B. 
 6.2 While employed by the Company and
for one year thereafter, the Executive agrees that in order to protect the Company’s trade secrets and confidential and proprietary information from unauthorized use, the Executive will not, either directly or through others, solicit or attempt
to solicit any employee, consultant or independent contractor of the Company to terminate his or her relationship with the Company in order to become an employee, consultant or independent contractor to or for any other person or business entity.

  

	 	7.	ASSIGNMENT AND BINDING EFFECT. 

This Agreement shall be binding upon and inure to the benefit of the Executive and the Executive’s heirs, executors, personal
representatives, assigns, administrators and legal representatives. Because of the unique and personal nature of the Executive’s duties under this Agreement, neither this Agreement nor any rights or obligations under this Agreement shall be
assignable by the Executive. This Agreement shall be binding upon and inure to the benefit of the Company and its successors, assigns and legal representatives. 
  

	 	8.	CHOICE OF LAW. 

 This Agreement shall be
construed and interpreted in accordance with the internal laws of the State of California. 
  

	 	9.	INTEGRATION. 

 This Agreement, including Exhibit A and Exhibit
B, contains the complete, final and exclusive agreement of the Parties relating to the terms and conditions of the Executive’s employment and the termination of the Executive’s employment, and supersedes all prior and contemporaneous
oral and written employment agreements or arrangements between the Parties including the Prior Agreement except as indicated herein. 
  

	 	10.	AMENDMENT. 

 Except as otherwise provided for in this Agreement, this
Agreement cannot be amended or modified except by a written agreement signed by the Executive and the Company as directed by the Board. 

  
 7. 

	 	11.	WAIVER. 

 No term, covenant or condition of
this Agreement or any breach thereof shall be deemed waived, except with the written consent of the Party against whom the wavier is claimed, and any waiver or any such term, covenant, condition or breach shall not be deemed to be a waiver of any
preceding or succeeding breach of the same or any other term, covenant, condition or breach. 
  

	 	12.	SEVERABILITY. 

 The finding by a court of competent jurisdiction of the
unenforceability, invalidity or illegality of any provision of this Agreement shall not render any other provision of this Agreement unenforceable, invalid or illegal. Such court shall have the authority to modify or replace the invalid or
unenforceable term or provision with a valid and enforceable term or provision which most accurately represents the Parties’ intention with respect to the invalid or unenforceable term or provision. 

 

	 	13.	INTERPRETATION; CONSTRUCTION. 

 The headings set forth in
this Agreement are for convenience of reference only and shall not be used in interpreting this Agreement. This Agreement has been drafted by legal counsel representing the Company, but the Executive has been encouraged to consult with, and have
consulted with, the Executive’s own independent counsel and tax advisors with respect to the terms of this Agreement. The Parties acknowledge that each Party and its counsel has reviewed and revised, or had an opportunity to review and revise,
this Agreement, and any rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement. 

 

	 	14.	REPRESENTATIONS AND WARRANTIES. 

 The
Executive represents and warrants that the Executive is not restricted or prohibited, contractually or otherwise, from entering into and performing each of the terms and covenants contained in this Agreement, and that the Executive’s execution
and performance of this Agreement will not violate or breach any other agreements between the Executive and any other person or entity. 
  

	 	15.	COUNTERPARTS; FACSIMILE. 

 This Agreement may be executed
in two counterparts, each of which shall be deemed an original, all of which together shall contribute one and the same instrument. Facsimile signatures shall be treated the same as original signatures. 

 

	 	16.	DISPUTE RESOLUTION. 

 To ensure the timely and economical
resolution of disputes that may arise in connection with Executive’s employment with the Company, Executive and the Company agree that any and all disputes, claims, or causes of action arising from or relating to the enforcement, breach,
performance, negotiation, execution, or interpretation of this Agreement, Executive’s 

  
 8. 

 
employment, or the termination of Executive’s employment, including but not limited to statutory claims, shall be resolved to the fullest extent permitted by law by final, binding and
confidential arbitration, by a single arbitrator, in San Diego, California, conducted by JAMS, Inc. (“JAMS”) under the then applicable JAMS rules (which can be found at the following web address:
http://www.jamsadr.com/rulesclauses). By agreeing to this arbitration procedure, both Executive and the Company waive the right to resolve any such dispute through a trial by jury or judge or administrative proceeding. The Company
acknowledges that Executive will have the right to be represented by legal counsel at any arbitration proceeding. The arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such
relief as would otherwise be permitted by law; and (b) issue a written arbitration decision, to include the arbitrator’s essential findings and conclusions and a statement of the award. The arbitrator shall be authorized to award any or
all remedies that Executive or the Company would be entitled to seek in a court of law. The Company shall pay all JAMS’ arbitration fees in excess of the amount of court fees that would be required of the Executive if the dispute were decided
in a court of law. Nothing in this Agreement is intended to prevent either Executive or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. Any awards or orders in such
arbitrations may be entered and enforced as judgments in the federal and state courts of any competent jurisdiction. 
  

	 	17.	TRADE SECRETS. 

 It is the understanding of both the
Company and the Executive that the Executive shall not divulge to the Company and/or its subsidiaries any confidential information or trade secrets belonging to others, including the Executive’s former employers, nor shall the Company and/or
its Affiliates seek to elicit from the Executive any such information. Consistent with the foregoing, the Executive shall not provide to the Company and/or its Affiliates, and the Company and/or its Affiliates shall not request, any documents or
copies of documents containing such information. 
  

	 	18.	ADVERTISING WAIVER. 

 The Executive agrees to permit the
Company and/or its affiliates, subsidiaries, or joint ventures currently existing or which shall be established during Executive’s employment by the Company (collectively, “Affiliates”), and persons or other
organizations authorized by the Company and/or its Affiliates, to use, publish and distribute advertising or sales promotional literature concerning the products and/or services of the Company and/or its Affiliates, or the machinery and equipment
used in the provision thereof, in which the Executive’s name and/or pictures of the Executive taken in the course of the Executive’s provision of services to the Company and/or its Affiliates, appear. The Executive hereby waives and
releases any claim or right the Executive may otherwise have arising out of such use, publication or distribution. The Company agrees that, following termination of the Executive’s employment, it will not create any new such literature
containing the Executive’s name and/or pictures without the Executive’s prior written consent. 

  
 9. 

	 	19.	APPLICATION OF SECTION 409A. 

 All benefits
under this Agreement are intended to qualify for an exemption from application of Section 409A of the Code and the regulations and other guidance thereunder and any state law of similar effect (“Section 409A”) or to
comply with its requirements to the extent necessary to avoid adverse personal tax consequences under Section 409A, and any ambiguities herein shall be interpreted accordingly. 

Notwithstanding anything to the contrary set forth herein, any severance benefits that constitute “deferred compensation” within the
meaning of Section 409A shall not commence in connection with the Executive’s termination of employment unless and until the Executive has also incurred a “separation from service” (as such term is defined in Treasury Regulation
Section 1.409A-1(h)) (“Separation From Service”), unless the Company reasonably determines that such amounts may be provided to the Executive without causing the Executive to incur the additional 20% tax under
Section 409A. 
 It is intended that each installment of the severance benefit payments provided for in this Agreement is a separate
“payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i). For the avoidance of doubt, it is intended that payments of the severance benefits set forth in this Agreement satisfy, to the greatest extent possible, the
exemptions from the application of Section 409A provided under Treasury Regulation Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9). However, if the Company (or, if applicable, the successor entity thereto) determines that the
severance benefits constitute “deferred compensation” under Section 409A and the Executive is, on the termination of service, a “specified employee” of the Company or any successor entity thereto, as such term is defined in
Section 409A(a)(2)(B)(i) of the Code, then, solely to the extent necessary to avoid the incurrence of the adverse personal tax consequences under Section 409A, the timing of the severance benefit payments shall be delayed until the earlier
to occur of: (i) the date that is six months and one day after the Executive’s Separation From Service, or (ii) the date of the Executive’s death. None of the severance benefits will be paid or otherwise delivered prior to the
effective date of the Release. If the severance benefits are not covered by one or more exemptions from the application of Section 409A and the Release could become effective in the calendar year following the calendar year in which
Executive’s Separation From Service occurs, the Release will not be deemed effective any earlier than the Release Deadline. Except to the minimum extent that payments must be delayed because Executive is a “specified employee” or
until the effectiveness of the Release, all amounts will be paid as soon as practicable in accordance with the Company’s normal payroll practices. 

The severance benefits are intended to qualify for an exemption from application of Section 409A or comply with its requirements to the
extent necessary to avoid adverse personal tax consequences under Section 409A, and any ambiguities herein shall be interpreted accordingly. 
  

	 	20.	PARACHUTE PAYMENTS. 

 Except as otherwise provided in an
agreement between the Executive and the Company, if any payment or benefit the Executive would receive from the Company or otherwise in connection with a Change in Control (“Payment”) would (i) constitute a
“parachute 

  
 10. 

 
payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the
“Excise Tax”), then such Payment shall be equal to the Reduced Amount (as defined herein). The “Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no
portion of the Payment being subject to the Excise Tax, or (y) the largest portion, up to and including the total, of the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income
taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in the Executive’s receipt, on an after-tax basis, of the greater amount of the Payment notwithstanding that all or some portion of the Payment may be
subject to the Excise Tax. If a reduction in payments or benefits constituting “parachute payments” is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the manner that results in the greatest economic
benefit to Executive. 
 The independent registered public accounting firm engaged by the Company for general audit purposes as of the day
prior to the effective date of the event described in Section 280G(b)(2)(A)(i) of the Code shall perform the foregoing calculations. If the independent registered public accounting firm so engaged by the Company is serving as accountant or
auditor for the individual, entity or group effecting such event, the Company shall appoint a nationally recognized independent registered public accounting firm to make the determinations required hereunder. The Company shall bear all expenses with
respect to the determinations by such independent registered public accounting firm required to be made hereunder. The independent registered public accounting firm engaged to make the determinations hereunder shall provide its calculations,
together with detailed supporting documentation, to the Company and Executive within thirty (30) calendar days after the date on which Executive’s right to a Payment is triggered (if requested at that time by the Company or Executive) or
such other time as reasonably requested by the Company or Executive. Any good faith determinations of the independent registered public accounting firm made hereunder shall be final, binding and conclusive upon the Company and Executive. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 11. 

 IN WITNESS WHEREOF, the
Parties have executed this Agreement as of the date first above written. 
  

			
	REGULUS THERAPEUTICS INC.
		
	By:	 	 /s/ Kleanthis G. Xanthopoulos

	Kleanthis G. Xanthopoulos, Ph.D.
	President and CEO
	
	 /s/ Paul C. Grint

	PAUL C. GRINT, M.D.

 [SIGNATURE PAGE TO EMPLOYMENT
AGREEMENT] 

 EXHIBIT A 

RELEASE AND WAIVER OF CLAIMS 

In consideration of the payments and other benefits set forth in Section 5 of the Employment Agreement dated
            , 2014, to which this form is attached (the “Employment Agreement”), I,
                    , hereby furnish Regulus Therapeutics Inc. (the “Company”) with the following release and waiver
(“Release and Waiver”). 
 In exchange for the consideration provided to me by the Employment Agreement that I am not
otherwise entitled to receive, I hereby generally and completely release the Company and its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates,
and assigns (collectively, the “Released Parties”) from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to
my signing this Release and Waiver (collectively, the “Released Claims”). The Released Claims include, but are not limited to: (1) all claims arising out of or in any way related to my employment with the Company or the
termination of that employment; (2) all claims related to my compensation or benefits from the Company, including, but not limited to, salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock,
stock options, or any other ownership interests in the Company; (3) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including, but not limited
to, claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (5) all federal, state, and local statutory claims, including, but not limited to, claims for discrimination, harassment, retaliation,
attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990 (as amended), the federal Age Discrimination in Employment Act of 1967 (as amended)
(“ADEA”), the federal Family and Medical Leave Act (as amended), the California Labor Code, and the California Fair Employment and Housing Act (as amended). Notwithstanding the foregoing, the following are not included in the
Released Claims (the “Excluded Claims”): (a) any rights or claims for indemnification I may have pursuant to any written indemnification agreement with the Company to which I am a party, the charter, bylaws, or operating
agreements of the Company, or under applicable law; (b) any rights or claims to unemployment compensation, funds accrued in my 401k account, or any vested equity incentives; (c) any rights that are not waivable as a matter of law; or
(d) any claims arising from the breach of this Release and Waiver. I hereby represent and warrant that, other than the Excluded Claims, I am not aware of any claims I have or might have against any of the Released Parties that are not included
in the Released Claims. 
 I also acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as
follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her
settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to any claims I may have against the Company. 

I acknowledge that, among other rights, I am waiving and releasing any rights I may have under ADEA, that this Release and Waiver is knowing
and voluntary, and that the consideration given for this Release and 

 
Waiver is in addition to anything of value to which I was already entitled as an executive of the Company. If I am 40 years of age or older upon execution of this Release and Waiver, I further
acknowledge that I have been advised, as required by the Older Workers Benefit Protection Act, that: (a) the release and waiver granted herein does not relate to claims under the ADEA which may arise after this Release and Waiver is executed;
(b) I should consult with an attorney prior to executing this Release and Waiver; (c) I have twenty-one (21) days in which to consider this Release and Waiver (although I may choose voluntarily to execute this Release and Waiver
earlier); (d) I have seven (7) days following the execution of this Release and Waiver to revoke my consent to this Release and Waiver; and (e) this Release and Waiver shall not be effective until the seven (7) day revocation
period has expired without my having previously revoked this Release and Waiver. 
 If I am less than 40 years of age upon execution of this
Release and Waiver, I acknowledge that I have the right to consult with an attorney prior to executing this Release and Waiver (although I may choose voluntarily not to do so); and that I have ten (10) days from the date of termination of my
employment with the Company in which to consider this Release and Waiver (although I may choose voluntarily to execute this Release and Waiver earlier). 

I acknowledge my continuing obligations under my Employee Confidentiality and Inventions Assignment Agreement a copy of which is attached
hereto (the “CIAA”). Pursuant to the CIAA, I understand that among other things, I must not use or disclose any confidential or proprietary information of the Company and I must immediately return all Company property and documents
(including all embodiments of proprietary information) and all copies thereof in my possession or control. I understand and agree that my right to the severance benefits I am receiving is in exchange for my agreement to the terms of this Release and
Waiver and is contingent upon my continued compliance with my CIAA. 
 This Release and Waiver, including the CIAA, constitutes the
complete, final and exclusive embodiment of the entire agreement between the Company and me with regard to the subject matter hereof. I am not relying on any promise or representation by the Company that is not expressly stated herein. This Release
and Waiver may only be modified by a writing signed by both me and a duly authorized officer of the Company. 
  

									
	Date:	  		  		  	By:	  	

 EXHIBIT B 

EMPLOYEE CONFIDENTIAL INFORMATION AND INVENTIONS
AGREEMENT

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