Document:

EX-4.6

 Exhibit 4.6 

ARCA BIOPHARMA, INC. 

and 

            , AS WARRANT AGENT 

FORM OF DEBT SECURITIES 

WARRANT AGREEMENT 
 DATED
AS OF [            ], 20     

 ARCA BIOPHARMA, INC. 

FORM OF DEBT SECURITIES WARRANT AGREEMENT 

This DEBT SECURITIES WARRANT AGREEMENT (this “Agreement”), dated as of
                     between ARCA BIOPHARMA, INC., a Delaware corporation (the “Company”), and
                    , a [corporation] [national banking association] organized and existing under the laws of
                     and having a corporate trust office in
                    , as warrant agent (the “Warrant Agent”). 

WHEREAS, the Company has entered into an indenture dated as of
[                     (the “Indenture”), with
                    , as trustee (such trustee, and any successors to such trustee, herein called the “Trustee”), providing
for the issuance from time to time of its [unsubordinated][subordinated] debt securities, to be issued in one or more series as provided in the Indenture (the “Debt Securities”);] 

WHEREAS, the Company proposes to sell [If Warrants are sold with other securities — title of such other securities being offered
(the “Other Securities”) with] warrant certificates evidencing one or more warrants (the “Warrants” or, individually, a “Warrant”) representing the right to purchase [title of
Debt Securities purchasable through exercise of Warrants] (the “Warrant Debt Securities”), such warrant certificates and other warrant certificates issued pursuant to this Agreement being herein called the “Warrant
Certificates”; and 
 WHEREAS, the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant
Agent is willing so to act, in connection with the issuance, registration, transfer, exchange, exercise and replacement of the Warrant Certificates, and in this Agreement wishes to set forth, among other things, the form and provisions of the
Warrant Certificates and the terms and conditions on which they may be issued, registered, transferred, exchanged, exercised and replaced. 

NOW, THEREFORE, in consideration of the premises and of the mutual agreements herein contained, the parties hereto agree as follows:

 ARTICLE 1
 ISSUANCE
OF WARRANTS AND EXECUTION AND 
 DELIVERY OF WARRANT CERTIFICATES 

1.1     Issuance of Warrants. [If Warrants alone — Upon issuance, each Warrant Certificate shall
evidence one or more Warrants.] [If Other Securities and Warrants — Warrant Certificates shall be [initially] issued in connection with the issuance of the Other Securities [but shall be separately transferable on and after
                     (the “Detachable Date”)] [and shall not be separately transferable] and each Warrant Certificate shall
evidence one or more Warrants.] Each Warrant evidenced thereby shall represent the right, subject to the provisions contained herein and therein, to purchase one Warrant Debt Security. [If Other Securities and Warrants — Warrant Certificates
shall be initially issued in units with the Other Securities and each Warrant Certificate included in such a unit shall evidence                     
Warrants for each [$         principal amount] [                shares] of Other Securities included in such unit]. 

 1.2     Execution and Delivery of Warrant Certificates.
Each Warrant Certificate, whenever issued, shall be in registered form substantially in the form set forth in Exhibit A hereto, shall be dated the date of its countersignature by the Warrant Agent and may have such letters, numbers, or other
marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as the officers of the Company executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are
not inconsistent with the provisions of this Agreement, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange on which the Warrants may be listed,
or to conform to usage. The Warrant Certificates shall be signed on behalf of the Company by any of its present or future chief executive officers, presidents, senior vice presidents, vice presidents, chief financial officers, chief legal officers,
treasurers, assistant treasurers, controllers, assistant controllers, secretaries or assistant secretaries under its corporate seal reproduced thereon. Such signatures may be manual or facsimile signatures of such authorized officers and may be
imprinted or otherwise reproduced on the Warrant Certificates. The seal of the Company may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced on the Warrant Certificates. 

No Warrant Certificate shall be valid for any purpose, and no Warrant evidenced thereby shall be exercisable, until such Warrant Certificate
has been countersigned by the manual signature of the Warrant Agent. Such signature by the Warrant Agent upon any Warrant Certificate executed by the Company shall be conclusive evidence that the Warrant Certificate so countersigned has been duly
issued hereunder. 
 In case any officer of the Company who shall have signed any of the Warrant Certificates either manually or by
facsimile signature shall cease to be such officer before the Warrant Certificates so signed shall have been countersigned and delivered by the Warrant Agent, such Warrant Certificates may be countersigned and delivered notwithstanding that the
person who signed Warrant Certificates ceased to be such officer of the Company; and any Warrant Certificate may be signed on behalf of the Company by such persons as, at the actual date of the execution of such Warrant Certificate, shall be the
proper officers of the Company, although at the date of the execution of this Agreement any such person was not such officer. 
 The term
“holder” or “holder of a Warrant Certificate” as used herein shall mean any person in whose name at the time any Warrant Certificate shall be registered upon the books to be maintained by the Warrant Agent for that purpose [If
Other Securities and Warrants are not immediately detachable — or upon the registration of the Other Securities prior to the Detachable Date. Prior to the Detachable Date, the Company will, or will cause the registrar of the Other Securities
to; make available at all times to the Warrant Agent such information as to holders of the Other Securities as may be necessary to keep the Warrant Agent’s records up to date]. 

1.3     Issuance of Warrant Certificates. Warrant Certificates evidencing the right to purchase Warrant
Debt Securities may be executed by the Company and delivered to the Warrant Agent upon the execution of this Warrant Agreement or from time to time thereafter. The Warrant Agent shall, upon receipt of Warrant Certificates duly executed on behalf of
the Company, countersign such Warrant Certificates and shall deliver such Warrant Certificates to or upon the order of the Company. 

 ARTICLE 2 

WARRANT PRICE, DURATION AND EXERCISE OF WARRANTS 

2.1     Warrant Price. During the period specified in Section 2.2, each Warrant shall, subject to
the terms of this Warrant Agreement and the applicable Warrant Certificate, entitle the holder thereof, to purchase the principal amount of Warrant Debt Securities specified in the applicable Warrant Certificate at an exercise price of
    % of the principal amount thereof [plus accrued amortization, if any, of the original issue discount of the Warrant Debt Securities] [plus accrued interest, if any, from the most recent date from which interest shall have
been paid on the Warrant Debt Securities or, if no interest shall have been paid on the Warrant Debt Securities, from the date of their initial issuance.] [The original issue discount ($         for each
$1,000 principal amount of Warrant Debt Securities) will be amortized at a     % annual rate, computed on a[n] [semi-] annual basis [using a 360-day year consisting of twelve 30-day months].] Such purchase price for the Warrant Debt Securities is referred to in this Agreement as the “Warrant Price.” 

2.2     Duration of Warrants. Each Warrant may be exercised in whole or in part at any time, as
specified herein, on or after [the date thereof] [        ] and at or before [        ] p.m., [City] time, on          or such
later date as the Company may designate by notice to the Warrant Agent and the holders of Warrant Certificates mailed to their addresses as set forth in the record books of the Warrant Agent (the “Expiration Date”). Each
Warrant not exercised at or before [        ] p.m., [City] time, on the Expiration Date shall become void, and all rights of the holder of the Warrant Certificate evidencing such Warrant under this Agreement
shall cease. 
 2.3     Exercise Of Warrants. 

(a) During the period specified in Section 2.2, the Warrants may be exercised to purchase a whole number of Warrant Debt
Securities in registered form by providing certain information as set forth on the reverse side of the Warrant Certificate and by paying in full, in lawful money of the United States of America, [in cash or by certified check or official bank check
in New York Clearing House funds] [by bank wire transfer in immediately available funds] the Warrant Price for each Warrant Debt Security with respect to which a Warrant is being exercised to the Warrant Agent at its corporate trust office, provided
that such exercise is subject to receipt within five business days of such payment by the Warrant Agent of the Warrant Certificate with the form of election to purchase Warrant Debt Securities set forth on the reverse side of the Warrant Certificate
properly completed and duly executed. The date on which payment in full of the Warrant Price is received by the Warrant Agent shall, subject to receipt of the Warrant Certificate as aforesaid, be deemed to be the date on which the Warrant is
exercised; provided, however, that if, at the date of receipt of such Warrant Certificates and payment in full of the Warrant Price, the transfer books for the Warrant Debt Securities purchasable upon the exercise of such Warrants shall be closed,
no such receipt of such Warrant Certificates and no such payment of such Warrant Price shall be effective to constitute the person so designated to be named as the holder of record of such Warrant Debt Securities on such date, but shall be effective
to constitute such person as the holder of record of such Warrant Debt Securities for all purposes at the opening of business on the next succeeding day on which the transfer books for the Warrant Debt Securities purchasable upon the exercise of
such Warrants shall be opened, and the certificates for the Warrant Debt Securities in respect of which such Warrants are then exercised shall be issuable as of the date on such next succeeding day on which the transfer books shall next be opened,
and until such date the Company shall be under no duty to deliver any certificate for such Warrant Debt Securities. The Warrant Agent shall deposit all funds received by it in payment of the Warrant Price in an account of the Company maintained with
it and shall advise the Company by telephone at the end of each day on which a payment for the exercise of Warrants is received of the amount so deposited to its account. The Warrant Agent shall promptly confirm such telephone advice to the Company
in writing. 

 (b) The Warrant Agent shall, from time to time, as promptly as practicable, advise
the Company of (i) the number of Warrant Debt Securities with respect to which Warrants were exercised, (ii) the instructions of each holder of the Warrant Certificates evidencing such Warrants with respect to delivery of the Warrant Debt
Securities to which such holder is entitled upon such exercise, (iii) delivery of Warrant Certificates evidencing the balance, if any, of the Warrants for the remaining Warrant Debt Securities after such exercise, and (iv) such other
information as the Company or the Trustee shall reasonably require. 
 (c) As soon as practicable after the exercise of any
Warrant, the Company shall issue, pursuant to the Indenture, in authorized denominations, to or upon the order of the holder of the Warrant Certificate evidencing such Warrant, the Warrant Debt Securities to which such holder is entitled, in fully
registered form, registered in such name or names as may be directed by such holder. If fewer than all of the Warrants evidenced by such Warrant Certificate are exercised, the Company shall execute, and an authorized officer of the Warrant Agent
shall manually countersign and deliver, a new Warrant Certificate evidencing Warrants for the number of Warrant Debt Securities remaining unexercised. 

(d) The Company shall not be required to pay any stamp or other tax or other governmental charge required to be paid in connection
with any transfer involved in the issue of the Warrant Debt Securities, and in the event that any such transfer is involved, the Company shall not be required to issue or deliver any Warrant Debt Securities until such tax or other charge shall have
been paid or it has been established to the Company’s satisfaction that no such tax or other charge is due. 
 (e) Prior to
the issuance of any Warrants there shall have been reserved, and the Company shall at all times through the Expiration Date keep reserved, out of its authorized but unissued Warrant Debt Securities, a number of shares sufficient to provide for the
exercise of the Warrants. 
 ARTICLE 3 

OTHER PROVISIONS RELATING TO 

RIGHTS OF HOLDERS OF WARRANT CERTIFICATES 

3.1     No Rights As Holders of Warrant Debt Securities Conferred By Warrants or Warrant Certificates.
No Warrant Certificate or Warrant evidenced thereby shall entitle the holder thereof to any of the rights of a holder of Warrant Debt Securities, including, without limitation, the right to receive the payment of principal of (or premium, if any) or
interest, if any, on the Warrant Debt Securities or to enforce any of the covenants in the Indenture. 

3.2     Lost, Stolen, Mutilated or Destroyed Warrant Certificates. Upon receipt by the Warrant Agent of
evidence reasonably satisfactory to it and the Company of the ownership of and the loss, theft, destruction or mutilation of any Warrant Certificate and/or indemnity reasonably satisfactory to the Warrant Agent and the Company and, in the case of
mutilation, upon surrender of the mutilated Warrant Certificate to the Warrant Agent for cancellation, then, in the absence of notice to the Company or the Warrant Agent that such Warrant Certificate has been acquired by a bona fide purchaser, the
Company shall execute, and an authorized officer of the Warrant Agent shall manually countersign and deliver, in exchange for or in lieu of the lost, stolen, destroyed or mutilated Warrant Certificate, a new Warrant Certificate of the same tenor and
evidencing Warrants for a like principal amount of Warrant 

 
Debt Securities. Upon the issuance of any new Warrant Certificate under this Section 3.2, the Company may require the payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Warrant Agent) in connection therewith. Every substitute Warrant Certificate executed and delivered pursuant to this Section 3.2 in
lieu of any lost, stolen or destroyed Warrant Certificate shall represent an additional contractual obligation of the Company, whether or not the lost, stolen or destroyed Warrant Certificate shall be at any time enforceable by anyone, and shall be
entitled to the benefits of this Agreement equally and proportionately with any and all other Warrant Certificates duly executed and delivered hereunder. The provisions of this Section 3.2 are exclusive and shall preclude (to the extent lawful)
all other rights and remedies with respect to the replacement of mutilated, lost, stolen or destroyed Warrant Certificates. 

3.3     Holder Of Warrant Certificate May Enforce Rights. Notwithstanding any of the provisions of this
Agreement, any holder of any Warrant Certificate, without the consent of the Warrant Agent, the Trustee, the holder of any Warrant Debt Securities or the holder of any other Warrant Certificate, may, in such holder’s own behalf and for such
holder’s own benefit, enforce, and may institute and maintain any suit, action or proceeding against the Company suitable to enforce, or otherwise in respect of, such holder’s right to exercise the Warrants evidenced by such holder’s
Warrant Certificate in the manner provided in such holder’s Warrant Certificates and in this Agreement. 

3.4     Merger, Sale, Conveyance or Lease. In case of (a) any share exchange, merger or similar
transaction of the Company with or into another person or entity (other than a share exchange, merger or similar transaction in which the Company is the acquiring or surviving corporation) or (b) the sale, exchange, lease, transfer or other
disposition of all or substantially all of the properties and assets of the Company as an entirety (in any such case, a “Reorganization Event”), then, as a condition of such Reorganization Event, lawful provisions shall be
made, and duly executed documents evidencing the same from the Company’s successor shall be delivered to the holders of the Warrants, so that such successor shall succeed to and be substituted for the Company, and assume all the Company’s
obligations under, this Agreement and the Warrants. The Company shall thereupon be relieved of any further obligation hereunder or under the Warrants, and the Company as the predecessor corporation may thereupon or at any time thereafter be
dissolved, wound up or liquidated. Such successor or assuming entity thereupon may cause to be signed, and may issue either in its own name or in the name of the Company, any or all of the Warrants issuable hereunder which heretofore shall not have
been signed by the Company, and may execute and deliver securities in its own name, in fulfillment of its obligations to deliver Warrant Debt Securities upon exercise of the Warrants. All the Warrants so issued shall in all respects have the same
legal rank and benefit under this Agreement as the Warrants theretofore or thereafter issued in accordance with the terms of this Agreement as though all of such Warrants had been issued at the date of the execution hereof. In any case of any such
Reorganization Event, such changes in phraseology and form (but not in substance) may be made in the Warrants thereafter to be issued as may be appropriate. The Warrant Agent may receive a written opinion of legal counsel as conclusive evidence that
any such Reorganization Event complies with the provisions of this Section 3.4. 
 3.5     Notice To
Warrantholders. In case the Company shall (a) effect any Reorganization Event or (b) make any distribution on or in respect of the [title of Warrant Debt Securities] in connection with the dissolution, liquidation or winding up of the
Company, then the Company shall mail to each holder of Warrants at such holder’s address as it shall appear on the books of the Warrant Agent, at least ten days prior to the applicable date hereinafter specified, a notice stating the date on
which such 

 
Reorganization Event, dissolution, liquidation or winding up is expected to become effective, and the date as of which it is expected that holders of [title of Warrant Debt Securities] of record
shall be entitled to exchange their shares of [title of Warrant Debt Securities] for securities or other property deliverable upon such Reorganization Event, dissolution, liquidation or winding up. No failure to mail such notice nor any defect
therein or in the mailing thereof shall affect any such transaction. 
 ARTICLE 4 

EXCHANGE AND TRANSFER OF WARRANT CERTIFICATES 

4.1     Exchange and Transfer of Warrant Certificates. [If Other Securities with Warrants which are
immediately detachable — Upon] [If Other Securities with Warrants which are not immediately detachable — Prior to the Detachable Date, a Warrant Certificate may be exchanged or transferred only together with the Other Security to which the
Warrant Certificate was initially attached, and only for the purpose of effecting or in conjunction with an exchange or transfer of such Other Security. Prior to any Detachable Date, each transfer of the Other Security shall operate also to transfer
the related Warrant Certificates. After the Detachable Date, upon] surrender at the corporate trust office of the Warrant Agent, Warrant Certificates evidencing Warrants may be exchanged for Warrant Certificates in other denominations evidencing
such Warrants or the transfer thereof may be registered in whole or in part; provided that such other Warrant Certificates evidence Warrants for the same aggregate principal amount of Warrant Debt Securities as the Warrant Certificates so
surrendered. The Warrant Agent shall keep, at its corporate trust office, books in which, subject to such reasonable regulations as it may prescribe, it shall register Warrant Certificates and exchanges and transfers of outstanding Warrant
Certificates, upon surrender of the Warrant Certificates to the Warrant Agent at its corporate trust office for exchange or registration of transfer, properly endorsed or accompanied by appropriate instruments of registration of transfer and written
instructions for transfer, all in form satisfactory to the Company and the Warrant Agent. No service charge shall be made for any exchange or registration of transfer of Warrant Certificates, but the Company may require payment of a sum sufficient
to cover any stamp or other tax or other governmental charge that may be imposed in connection with any such exchange or registration of transfer. Whenever any Warrant Certificates are so surrendered for exchange or registration of transfer, an
authorized officer of the Warrant Agent shall manually countersign and deliver to the person or persons entitled thereto a Warrant Certificate or Warrant Certificates duly authorized and executed by the Company, as so requested. The Warrant Agent
shall not be required to effect any exchange or registration of transfer which will result in the issuance of a Warrant Certificate evidencing a Warrant for a fraction of a Warrant Debt Security or a number of Warrants for a whole number of Warrant
Debt Securities and a fraction of a Warrant Debt Security. All Warrant Certificates issued upon any exchange or registration of transfer of Warrant Certificates shall be the valid obligations of the Company, evidencing the same obligations and
entitled to the same benefits under this Agreement as the Warrant Certificate surrendered for such exchange or registration of transfer. 

4.2     Treatment of Holders of Warrant Certificates. [If Other Securities and Warrants are not
immediately detachable — Prior to the Detachable Date, the Company, the Warrant Agent and all other persons may treat the owner of the Other Security as the owner of the Warrant Certificates initially attached thereto for any purpose and as the
person entitled to exercise the rights represented by the Warrants evidenced by such Warrant Certificates, any notice to the contrary notwithstanding. After the Detachable Date and prior to due presentment of a Warrant Certificate for registration
of transfer, the] [The] Company, the Warrant Agent and all other persons may treat the registered holder of a Warrant Certificate as the absolute owner thereof for any purpose and as the person entitled to exercise the rights represented by the
Warrants evidenced thereby, any notice to the contrary notwithstanding. 

 4.3     Cancellation of Warrant Certificates. Any Warrant
Certificate surrendered for exchange, registration of transfer or exercise of the Warrants evidenced thereby shall, if surrendered to the Company, be delivered to the Warrant Agent and all Warrant Certificates surrendered or so delivered to the
Warrant Agent shall be promptly canceled by the Warrant Agent and shall not be reissued and, except as expressly permitted by this Agreement, no Warrant Certificate shall be issued hereunder in exchange therefor or in lieu thereof. The Warrant Agent
shall deliver to the Company from time to time or otherwise dispose of canceled Warrant Certificates in a manner satisfactory to the Company. 

ARTICLE 5 
 CONCERNING
THE WARRANT AGENT 
 5.1     Warrant Agent. The Company hereby appoints
                     as Warrant Agent of the Company in respect of the Warrants and the Warrant Certificates upon the terms and subject to the
conditions herein set forth, and                      hereby accepts such appointment. The Warrant Agent shall have the powers and authority granted
to and conferred upon it in the Warrant Certificates and hereby and such further powers and authority to act on behalf of the Company as the Company may hereafter grant to or confer upon it. All of the terms and provisions with respect to such
powers and authority contained in the Warrant Certificates are subject to and governed by the terms and provisions hereof. 

5.2     Conditions of Warrant Agent’s Obligations. The Warrant Agent accepts its obligations
herein set forth upon the terms and conditions hereof, including the following to all of which the Company agrees and to all of which the rights hereunder of the holders from time to time of the Warrant Certificates shall be subject: 

(a)     Compensation and Indemnification. The Company agrees promptly to pay the Warrant Agent the
compensation to be agreed upon with the Company for all services rendered by the Warrant Agent and to reimburse the Warrant Agent for reasonable out-of-pocket expenses
(including reasonable counsel fees) incurred without negligence, bad faith or willful misconduct by the Warrant Agent in connection with the services rendered hereunder by the Warrant Agent. The Company also agrees to indemnify the Warrant Agent
for, and to hold it harmless against, any loss, liability or expense incurred without negligence, bad faith or willful misconduct on the part of the Warrant Agent, arising out of or in connection with its acting as Warrant Agent hereunder, including
the reasonable costs and expenses of defending against any claim of such liability. 
 (b)     Agent for
the Company. In acting under this Warrant Agreement and in connection with the Warrant Certificates, the Warrant Agent is acting solely as agent of the Company and does not assume any obligations or relationship of agency or trust for or with
any of the holders of Warrant Certificates or beneficial owners of Warrants. 
 (c)     Counsel. The
Warrant Agent may consult with counsel satisfactory to it, which may include counsel for the Company, and the written advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted
by it hereunder in good faith and in accordance with the advice of such counsel. 

 (d)     Documents. The Warrant Agent shall be protected
and shall incur no liability for or in respect of any action taken or omitted by it in reliance upon any Warrant Certificate, notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably believed by it to be
genuine and to have been presented or signed by the proper parties. 
 (e)     Certain Transactions.
The Warrant Agent, and its officers, directors and employees, may become the owner of, or acquire any interest in, Warrants, with the same rights that it or they would have if it were not the Warrant Agent hereunder, and, to the extent permitted by
applicable law, it or they may engage or be interested in any financial or other transaction with the Company and may act on, or as depositary, trustee or agent for, any committee or body of holders of Warrant Debt Securities or other obligations of
the Company as freely as if it were not the Warrant Agent hereunder. Nothing in this Warrant Agreement shall be deemed to prevent the Warrant Agent from acting as Trustee under the Indenture. 

(f)     No Liability for Interest. Unless otherwise agreed with the Company, the Warrant Agent shall
have no liability for interest on any monies at any time received by it pursuant to any of the provisions of this Agreement or of the Warrant Certificates. 

(g)     No Liability for Invalidity. The Warrant Agent shall have no liability with respect to any
invalidity of this Agreement or any of the Warrant Certificates (except as to the Warrant Agent’s countersignature thereon). 

(h)     No Responsibility for Representations. The Warrant Agent shall not be responsible for any of
the recitals or representations herein or in the Warrant Certificates (except as to the Warrant Agent’s countersignature thereon), all of which are made solely by the Company. 

(i)     No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are
herein and in the Warrant Certificates specifically set forth and no implied duties or obligations shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take
any action hereunder which may tend to involve it in any expense or liability, the payment of which within a reasonable time is not, in its reasonable opinion, assured to it. The Warrant Agent shall not be accountable or under any duty or
responsibility for the use by the Company of any of the Warrant Certificates authenticated by the Warrant Agent and delivered by it to the Company pursuant to this Agreement or for the application by the Company of the proceeds of the Warrant
Certificates. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written
demand from a holder of a Warrant Certificate with respect to such default, including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise or, except as
provided in Section 6.2 hereof, to make any demand upon the Company. 
 5.3     Resignation, Removal and
Appointment of Successors. 
 (a)     The Company agrees, for the benefit of the holders from time to
time of the Warrant Certificates, that there shall at all times be a Warrant Agent hereunder until all the Warrants have been exercised or are no longer exercisable. 

 (b)     The Warrant Agent may at any time resign as agent by
giving written notice to the Company of such intention on its part, specifying the date on which its desired resignation shall become effective; provided that such date shall not be less than three months after the date on which such notice is given
unless the Company otherwise agrees. The Warrant Agent hereunder may be removed at any time by the filing with it an instrument in writing signed by or on behalf of the Company and specifying such removal and the intended date when it shall become
effective. Such resignation or removal shall take effect upon the appointment by the Company, as hereinafter provided, of a successor Warrant Agent (which shall be a bank or trust company authorized under the laws of the jurisdiction of its
organization to exercise corporate trust powers) and the acceptance of such appointment by such successor Warrant Agent. The obligation of the Company under Section 5.2(a) shall continue to the extent set forth therein notwithstanding the
resignation or removal of the Warrant Agent. 
 (c)     In case at any time the Warrant Agent shall resign,
or shall be removed, or shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or shall commence a voluntary case under the Federal bankruptcy laws, as now or hereafter constituted, or under any other applicable Federal or
state bankruptcy, insolvency or similar law or shall consent to the appointment of or taking possession by a receiver, custodian, liquidator, assignee, trustee, sequestrator (or other similar official) of the Warrant Agent or its property or
affairs, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due, or shall take corporate action in furtherance of any such action, or a decree or order for
relief by a court having jurisdiction in the premises shall have been entered in respect of the Warrant Agent in an involuntary case under the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or state
bankruptcy, insolvency or similar law, or a decree or order by a court having jurisdiction in the premises shall have been entered for the appointment of a receiver, custodian, liquidator, assignee, trustee, sequestrator (or similar official) of the
Warrant Agent or of its property or affairs, or any public officer shall take charge or control of the Warrant Agent or of its property or affairs for the purpose of rehabilitation, conservation, winding up or liquidation, a successor Warrant Agent,
qualified as aforesaid, shall be appointed by the Company by an instrument in writing, filed with the successor Warrant Agent. Upon the appointment as aforesaid of a successor Warrant Agent and acceptance by the successor Warrant Agent of such
appointment, the Warrant Agent shall cease to be Warrant Agent hereunder. 
 (d)     Any successor Warrant
Agent appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the Company an instrument accepting such appointment hereunder, and thereupon such successor Warrant Agent, without any further act, deed or conveyance, shall
become vested with all the authority, rights, powers, trusts, immunities, duties and obligations of such predecessor with like effect as if originally named as Warrant Agent hereunder, and such predecessor, upon payment of its charges and
disbursements then unpaid, shall thereupon become obligated to transfer, deliver and pay over, and such successor Warrant Agent shall be entitled to receive, all monies, securities and other property on deposit with or held by such predecessor, as
Warrant Agent hereunder. 
 (e)     Any corporation into which the Warrant Agent hereunder may be merged or
converted or any corporation with which the Warrant Agent may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Warrant Agent shall be a party, or any corporation to which the Warrant Agent shall
sell or otherwise transfer all or substantially all the assets and business of the Warrant Agent, provided that it shall be qualified as aforesaid, shall be the successor Warrant Agent under this Agreement without the execution or filing of any
paper or any further act on the part of any of the parties hereto. 

 ARTICLE 6 

MISCELLANEOUS 

6.1     Amendment. This Agreement may be amended by the parties hereto, without the consent of the
holder of any Warrant Certificate, for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision contained herein, or making any other provisions with respect to matters or questions arising under this
Agreement as the Company and the Warrant Agent may deem necessary or desirable; provided that such action shall not materially adversely affect the interests of the holders of the Warrant Certificates. 

6.2     Notices and Demands to the Company and Warrant Agent. If the Warrant Agent shall receive any
notice or demand addressed to the Company by the holder of a Warrant Certificate pursuant to the provisions of the Warrant Certificates, the Warrant Agent shall promptly forward such notice or demand to the Company. 

6.3     Addresses. Any communication from the Company to the Warrant Agent with respect to this
Agreement shall be addressed to                     ,
                                        ,
Attention:                     , and any communication from the Warrant Agent to the Company with respect to this Agreement shall be addressed to
ARCA biopharma, Inc., 11080 CirclePoint Road, Suite 140, Westminster CO 80020, Attention: Secretary (or such other address as shall be specified in writing by the Warrant Agent or by the Company). 

6.4     Governing Law. This Agreement and each Warrant Certificate issued hereunder, and any claim,
controversy or dispute arising under or related to this Agreement or any Warrant Certificate, shall be governed by and construed in accordance with the laws of the State of New York. 

6.5     Delivery Of Prospectus. The Company shall furnish to the Warrant Agent sufficient copies of a
prospectus meeting the requirements of the Securities Act of 1933, as amended, relating to the Warrant Debt Securities deliverable upon exercise of the Warrants (the “Prospectus”), and the Warrant Agent agrees that upon the
exercise of any Warrant, the Warrant Agent will deliver to the holder of the Warrant Certificate evidencing such Warrant, prior to or concurrently with the delivery of the Warrant Debt Securities issued upon such exercise, the Prospectus. The
Warrant Agent shall not, by reason of any such delivery, assume any responsibility for the accuracy or adequacy of such Prospectus. 

6.6     Obtaining of Governmental Approvals. The Company will from time to time take all action which
may be necessary to obtain and keep effective any and all permits, consents and approvals of governmental agencies and authorities and securities act filings under United States Federal and state laws (including without limitation a registration
statement in respect of the Warrants and Warrant Debt Securities under the Securities Act of 1933, as amended), which may be or become requisite in connection with the issuance, sale, transfer, and delivery of the Warrant Debt Securities issued upon
exercise of the Warrants, the issuance, sale, transfer and delivery of the Warrants or upon the expiration of the period during which the Warrants are exercisable. 

6.7     Persons Having Rights Under Warrant Agreement. Nothing in this Agreement shall give to any
person other than the Company, the Warrant Agent and the holders of the Warrant Certificates any right, remedy or claim under or by reason of this Agreement. 

 6.8     Headings. The descriptive headings of the several
Articles and Sections of this Agreement are inserted for convenience only and shall not control or affect the meaning or construction of any of the provisions hereof. 

6.9     Counterparts. This Agreement may be executed in any number of counterparts, each of which as so
executed shall be deemed to be an original, but such counterparts shall together constitute one and the same instrument. 

6.10     Inspection of Agreement. A copy of this Agreement shall be available at all reasonable times
at the principal corporate trust office of the Warrant Agent for inspection by the holder of any Warrant Certificate. The Warrant Agent may require such holder to submit his Warrant Certificate for inspection by it. 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed, all
as of the day and year first above written. 
  

			
	ARCA BIOPHARMA, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	[WARRANT AGENT], as Warrant Agent
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 EXHIBIT A 

FORM OF WARRANT CERTIFICATE 

[FACE OF WARRANT CERTIFICATE] 
  

			
	[[Form if Warrants are attached to Other Securities and are not immediately detachable.]	  	[Prior to                     , this Warrant Certificate cannot be transferred or exchanged unless attached to a
[Title of Other Securities].]
	[Form of Legend if Warrants are not immediately exercisable.]	  	[Prior to                     , Warrants evidenced by this Warrant Certificate cannot be exercised.]

 EXERCISABLE ONLY IF COUNTERSIGNED BY THE WARRANT AGENT AS PROVIDED HEREIN 

VOID AFTER [    ] P.M., [        ] TIME, ON
                    . 

 ARCA BIOPHARMA, INC. 

WARRANT CERTIFICATE REPRESENTING 

WARRANTS TO PURCHASE 

[TITLE OF WARRANT DEBT SECURITIES] 

No.                     Warrants 

This certifies that or registered assigns is the registered owner of the above indicated number of Warrants, each Warrant entitling
such owner [If Warrants are attached to Other Securities and are not immediately detachable —, subject to the registered owner qualifying as a “Holder” of this Warrant Certificate, as hereinafter defined)] to purchase, at any time
[after [                    ] p.m., [City] time, on
                    and] on or before
[                    ] p.m., [City] time, on
                    , $         principal amount of [Title of Warrant Debt Securities] (the
“Warrant Debt Securities”), of ARCA biopharma, Inc. (the “Company”), issued or to be issued under the Indenture (as hereinafter defined), on the following basis: during the period from
                    , through and including
                    , each Warrant shall entitle the Holder thereof, subject to the provisions of this Agreement, to purchase the principal amount of
Warrant Debt Securities stated in the Warrant Certificate at the warrant price (the “Warrant Price”) of     % of the principal amount thereof [plus accrued amortization, if any, of the original issue
discount of the Warrant Debt Securities] [plus accrued interest, if any, from the most recent date from which interest shall have been paid on the Warrant Debt Securities or, if no interest shall have been paid on the Warrant Debt Securities, from
the date of their original issuance]. [The original issue discount ($     for each $1,000 principal amount of Warrant Debt Securities) will be amortized at a     % annual rate, computed on a[n] [semi-]annual
basis [using a 360-day year consisting of twelve 30-day months]. The Holder may exercise the Warrants evidenced hereby by providing certain information set forth on the
back hereof and by paying in full, in lawful money of the United States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds], the Warrant Price for
each Warrant Debt Security with respect to which this Warrant is exercised to the Warrant Agent (as hereinafter defined) and by surrendering this Warrant Certificate, with the purchase form on the back hereof duly executed, at the corporate trust
office of [name of Warrant Agent], or its successor as warrant agent (the “Warrant Agent”), which is, on the date hereof, at the address specified on the reverse hereof, and upon compliance with and subject to the conditions
set forth herein and in the Warrant Agreement (as hereinafter defined). 
 The term “Holder” as used herein shall mean [If
Warrants are attached to Other Securities and are not immediately detachable —, prior to                     ,
        (the “Detachable Date”), the registered owner of the Company’s [title of Other Securities] to which this Warrant Certificate was initially attached, and after such
Detachable Date,] the person in whose name at the time this Warrant Certificate shall be registered upon the books to be maintained by the Warrant Agent for that purpose pursuant to Section 4 of the Warrant Agreement. 

The Warrants evidenced by this Warrant Certificate may be exercised to purchase Warrant Debt Securities in the principal amount of $1,000 or
any integral multiple thereof in registered form. Upon any exercise of fewer than all of the Warrants evidenced by this Warrant Certificate, there shall be issued to the Holder hereof a new Warrant Certificate evidencing Warrants for the aggregate
principal amount of Warrant Debt Securities remaining unexercised. 

 This Warrant Certificate is issued under and in accordance with the Warrant Agreement dated as of
            ,         (the “Warrant Agreement”), between the Company and the Warrant Agent and is subject to the terms and
provisions contained in the Warrant Agreement, to all of which terms and provisions the Holder of this Warrant Certificate consents by acceptance hereof. Copies of the Warrant Agreement are on file at the above-mentioned office of the Warrant Agent.

 The Warrant Debt Securities to be issued and delivered upon the exercise of Warrants evidenced by this Warrant Certificate will be issued
under and in accordance with an Indenture, dated as of             ,         (the “Indenture”), between the Company and
                    , as trustee (such trustee, and any successors to such trustee, the “Trustee”)] and will be subject to
the terms and provisions contained in the Warrant Debt Securities and in the Indenture. Copies of the Indenture, including the form of the Warrant Debt Securities, are on file at the corporate trust office of the Trustee. 

[If Warrants are attached to Other Securities and are not immediately detachable — Prior to the Detachable Date, this Warrant Certificate
may be exchanged or transferred only together with the [Title of Other Securities] (the “Other Securities”) to which this Warrant Certificate was initially attached, and only for the purpose of effecting or in conjunction
with, an exchange or transfer of such Other Security. Additionally, on or prior to the Detachable Date, each transfer of such Other Security on the register of the Other Securities shall operate also to transfer this Warrant Certificate. After such
date, transfer of this] [If Warrants are attached to Other Securities and are immediately detachable-Transfer of this] Warrant Certificate may be registered when this Warrant Certificate is surrendered at the corporate trust office of the Warrant
Agent by the registered owner or such owner’s assigns, in the manner and subject to the limitations provided in the Warrant Agreement. 

[If Other Securities with Warrants which are not immediately detachable — Except as provided in the immediately preceding paragraph,
after] [If Other Securities with Warrants which are immediately detachable or Warrants alone — After] countersignature by the Warrant Agent and prior to the expiration of this Warrant Certificate, this Warrant Certificate may be exchanged at
the corporate trust office of the Warrant Agent for Warrant Certificates representing Warrants for the same aggregate principal amount of Warrant Debt Securities. 

This Warrant Certificate shall not entitle the Holder hereof to any of the rights of a holder of the Warrant Debt Securities, including,
without limitation, the right to receive payments of principal of (and premium, if any) or interest, if any, on the Warrant Debt Securities or to enforce any of the covenants of the Indenture. 

Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof, which further provisions shall
for all purposes have the same effect as if set forth at this place. 
 This Warrant Certificate shall not be valid or obligatory for any
purpose until countersigned by the Warrant Agent. 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be executed in its name and on
its behalf by the facsimile signatures of its duly authorized officers. 
 Dated:
                     
  

			
	ARCA BIOPHARMA, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	[WARRANT AGENT], as Warrant Agent
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 [REVERSE OF WARRANT CERTIFICATE] 

(Instructions for Exercise of Warrant) 

To exercise any Warrants evidenced hereby for Warrant Debt Securities (as hereinafter defined), the Holder must pay, in lawful money of the
United States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds], the Warrant Price in full for Warrants exercised, to [Warrant Agent] [address
of Warrant Agent], Attn:                     , which payment must specify the name of the Holder and the number of Warrants exercised by such
Holder. In addition, the Holder must complete the information required below and present this Warrant Certificate in person or by mail (certified or registered mail is recommended) to the Warrant Agent at the appropriate address set forth above.
This Warrant Certificate, completed and duly executed, must be received by the Warrant Agent within five business days of the payment. 
 (To
be executed upon exercise of Warrants) 
 The undersigned hereby irrevocably elects to exercise
                    Warrants, represented by this Warrant Certificate, to purchase $        
principal amount of the [Title of Warrant Debt Securities] (the “Warrant Debt Securities”) of ARCA biopharma, Inc. and represents that he has tendered payment for such Warrant Debt Securities, in lawful money of the United
States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds], to the order of ARCA biopharma, Inc., c/o [insert name and address of Warrant Agent],
in the amount of $         in accordance with the terms hereof. The undersigned requests that said principal amount of Warrant Debt Securities be in fully registered form in the authorized
denominations, registered in such names and delivered all as specified in accordance with the instructions set forth below. 
 If the number
of Warrants exercised is less than all the Warrants evidenced hereby, the undersigned requests that a new Warrant Certificate evidencing the Warrants for the aggregate principal amount of Warrant Debt Securities remaining unexercised be issued and
delivered to the undersigned unless otherwise specified in the instructions below. 
  

			
	Dated                    
	Name                    
		
	Please Print:	 	
	
	Address:                     
	                                   
      
	                                   
      
	(Insert Social Security or Other Identifying Number of Holder)
	                                    
    
	
	Signature Guaranteed                    
		 	         Signature

 (Signature must conform in all respects to name of holder as specified on the face of this Warrant Certificate
and must bear a signature guarantee by a FINRA member firm). 
 This Warrant may be exercised at the following addresses: 

 

	
	 By hand
at                            

	
                   
                          

	
                   
                          

	
	 By mail
at                            

	
                   
                          

	
                   
                          

 [Instructions as to form and delivery of Warrant Debt Securities and, if applicable, Warrant Certificates evidencing Warrants
for the number of Warrant Debt Securities remaining unexercised — complete as appropriate.] 

 ASSIGNMENT 

[Form of assignment to be executed if Warrant Holder desires to transfer Warrant] 

 

			
	FOR VALUE RECEIVED, unto:	  	hereby sells, assigns and transfers
	  

	  

 

			
	                                      
                                  	  	                                     
                               
	(Please print name and address including zip code)	  	Please print Social Security or other identifying number

 the right represented by the within Warrant to purchase $         aggregate principal
amount of [Title of Warrant Debt Securities] of ARCA biopharma, Inc., to which the within Warrant relates and appoints attorney to transfer such right on the books of the Warrant Agent with full power of substitution in the premises. 

 

	
	 Dated
                                         
                                         
                  

	
	 Signature
                                         
                                         
            

 (Signature must conform in all respects to name of holder as specified on the face of the Warrant) 

 

	
	 Signature GuaranteedExhibit

SEPARATION AGREEMENT AND GENERAL RELEASE 

THIS SEPARATION AGREEMENT AND GENERAL RELEASE (the “Release”) is made and entered into as of this 24th day of April 2017 by and between EVERTEC GROUP, LLC, a Puerto Rico limited liability company, EVERTEC USA, LLC and Mariana Lischner Goldvarg (the “Executive”).  EVERTEC GROUP, LLC and EVERTEC USA, LLC shall be collectively referred to herein as the “Company”.

FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1.Termination of Employment. Effective the close of business on April 28, 2017 (the “Separation Date”), the Executive and the Company agree that the Executive’s employment with the Company terminated. Effective on the Separation Date, the Executive has resigned from all positions she holds as an officer and/or member of the board of directors or board of managers of EVERTEC, Inc. (“Parent”) and any of its subsidiaries, including the Company (Parent and its direct and indirect subsidiaries, including the Company, are hereinafter referred to as the “Company Group”) and from all committees of any such board of directors or board of managers. The Executive agrees that she will not hereafter seek reinstatement, recall or re-employment with the Company Group. The Executive acknowledges that this Release constitutes the required notice of termination of the Executive’s employment pursuant to Section 3(g) of the Employment Agreement, by and between the Company and the Executive, dated May 25, 2015 (the “Employment Agreement”).

2.(a)  Settlement Payment. As a settlement payment and consideration, and provided this Release is executed and not revoked by Executive, the Company shall provide the Executive with a lump sum payment consisting of the following benefits, on or before sixty (60) calendar days after the Separation Date or as established herein: 

(i)A lump sum payment of $350,000 on or before 60 calendar days after the Separation Date.

(ii)A onetime payment equivalent to the cost of fourteen (14) months of health plan coverage under COBRA to be paid directly to the Administrator, Hub International Inc. and credited towards the number of months eligible for COBRA.

(iii)Accrued but unused vacation, if any, as of the Separation Date.

(iv)The amount of any unpaid expense reimbursements to which Executive may be entitled pursuant to her Employment Agreement. 

(a)Additional Consideration.  As an additional consideration for the signing of this Release, the Company and Executive agree to the following:

(i)Automobile:  The Company waives its right to require the reimbursement of SIXTY THOUSAND DOLLARS ($60,000.00) for the Company vehicle from Executive as provided in the Letter Agreement dated September 28, 2015 by and between EVERTEC GROUP, LLC and Executive. Accordingly, Executive shall continue as the titleholder of said automobile without any further action on her part. 

(ii)Accelerated RSUs:  During the term of her employment, Executive was granted restricted stock units (the “RSUs”), pursuant to the execution of different agreements 

and her continued employment with the Company, as detailed in Exhibit A. Upon the execution of this Release, the 11,433 time-based RSUs granted on February 19, 2016 with a vesting date of February 19, 2018 and the 11,433 RSUs granted on February 19, 2016 with a vesting date of February 19, 2019 shall automatically vest on the 8th day after the revocation period set forth on Section 9(b) has expired, provided that Executive has not revoked this Release. These RSUs are time-based and were issued pursuant to the Parent’s 2013 Equity Incentive Plan Restricted Stock Unit Award Agreement executed by the parties on February 19, 2016. These RSUs must be settled within 75 calendar days of the Separation Date

(iii)Contingent RSUs:  Contingent on Executive abiding to all of the terms and conditions of this Release, including without limitation, the non-compete, non-solicitation and non-disparagement clauses included on her Employment Agreement and/or herein, the parties agree that the following RSUs will remain outstanding and continue under their normal vesting schedules under the terms and conditions of Parent’s 2013 Equity Incentive Plan and their respective awards: 

(a) 44,984 time-based RSUs granted under the Employment Agreement with a vesting date of June 1, 2018;

(b) 14,407 performance-based RSUs related to relative total shareholder return granted on February 19, 2016 with a vesting date of February 19, 2019, which get prorated to 5,602 RSUs under the terms of its respective award based on a 14/36 fraction; and 

(c) 17,150 performance-based RSUs related to diluted earnings per share granted on February 19, 2016, which get prorated to 6,669 RSUs under the terms of its respective award based on a 14/36 fraction.

Executive hereby acknowledges and agrees that if she breaches any of the terms and conditions of this Release, Executive will not be entitled to receive the RSUs described herein, and hereby forfeits any right Executive may have to receive such RSUs.   

All of the payments referred to in Section 2(a) and (b) of this Release will be jointly referred as the “Severance Payment”. The Company may withhold from all amounts payable under this Release such federal, state, local and payroll taxes as may be required to be withheld pursuant to any applicable law or regulation.

(b)Consulting Services. The Company will retain Executive to perform consulting work for a period of six (6) months from the date this release is executed by the parties, pursuant to the terms and conditions established in the Professional Services Agreement (“PSA”) attached herein as Exhibit B.  In consideration of the performance of the services described in the PSA and of the acceptance by Executive of the restrictive covenants detailed in the PSA, the Company will pay Executive based on a monthly rate equal to $5,000/month. 

(c)Continuing Rights. The Executive agrees that, except for the payments and benefits set forth above, she has been paid all other compensation due to her, including but not limited to all salary, hourly pay, overtime pay, bonuses, deferred compensation, incentives and all compensation of any nature whatsoever, and does not have any equity or equity-based ownership interest in Parent or any other member of the Company Group other than 11,433 vested RSUs each of which vested on February 2017, the terms of which RSUs shall continue to be governed by Parent’s 2013 Equity Incentive Plan. No other sums (contingent or otherwise) shall be paid to the Executive 

in respect of her employment by the Company, including but not limited to any performance based awards, and any such sums (whether or not owed) are hereby expressly waived by the Executive.

(d)Continuing Entitlement. The Executive acknowledges that her continuing entitlement to payments and benefits under this Paragraph 2 shall be conditioned upon her continuing compliance with Paragraphs 1, 3, 4, 5, 6, 9(c) or 14 of this Release and any violation of Paragraphs 1, 3, 4, 6, 9(a) or 14 by the Executive shall terminate the Company's obligation to continue to make payments or provide benefits in accordance with this Paragraph 2.

(e)Consideration. The Executive expressly acknowledges and agrees that the Severance Payment made under the terms of this Release exceeds the value of any interest, claim, privilege and/or thing of value to which she may be entitled. Executive further acknowledges that the Company has paid her any and all amounts owed as of the date of the signing of this Release and that it does not owe her any wages for work performed, commissions, bonuses, sick leave, personal license payments, vacation leave or other compensation, benefits, payments, or remuneration of any nature, other than those specifically provided in this Release. Therefore, Executive agrees that the Severance Payment should be computed against any severance calculation Executive may be entitled by virtue of any Federal or State law. In addition, Executive represents that she has no known work related injury or occupational illness and that she has been provided and/or has not been denied any licenses under the Family and Medical Leave Act or any non-occupational illness insurance. 

3.    (a) General Release. As a material inducement to the Company to enter into this Release and in consideration of the payments to be made by the Company to the Executive in accordance with Paragraph 2 above, the Executive, on behalf of herself, her representatives, agents, estate, heirs, successors and assigns, and with full understanding of the contents and legal effect of this Release and having the right and opportunity to consult with her counsel, releases and discharges each member of the Company Group, each of their respective shareholders, officers, directors, supervisors, members, managers, employees, agents, representatives, attorneys, insurers, divisions, affiliates, and all employee benefit plans sponsored by or contributed to by any member of the Company Group (including any fiduciaries thereof), and all related entities of any kind or nature, and its and their predecessors, successors, heirs, executors, administrators, and assigns (collectively, the “Released Parties”) from any and all claims, actions, causes of action, grievances, suits, charges, or complaints of any kind or nature whatsoever, that she ever had or now has, whether fixed or contingent, liquidated or unliquidated, known or unknown, suspected or unsuspected, and whether arising in tort, contract, statute, or equity, before any federal, state, local, or private court, agency, arbitrator, mediator, or other entity, regardless of the relief or remedy. 

(b) Statutes. Without limiting the generality of the foregoing, it being the intention of the parties to make this Release as broad and as general as the law permits, this Release specifically includes, but is not limited to, and is intended to explicitly release, any and all subject matter and claims arising from or in connection with any alleged violation by any of the Released Parties of the laws of the State of Florida and the Commonwealth of Puerto Rico, whether state or federal.  The Executive also releases the Released Parties from any claims that could arise under the  Employment Agreement or Title VII of the Civil Rights Act of 1964, the Civil Rights Acts of 1866 and 1991 and Executive Order 11246, which prohibit employment discrimination based on race, color, religion, sex, or national origin; the Age Discrimination in Employment Act of 1967 (ADEA) and the Older Workers Benefit Protection Act of 1990, which prohibit employment discrimination because of age against individuals who are 40 years of age or older; the Equal Pay Act, which prohibits sex-based wage discrimination against men and women who perform substantially equal work in the same establishment; the Americans with Disabilities Act of 1990 (ADA), which prohibits employment discrimination against qualified individuals with disabilities in the private sector, in state and local governments; and Sections 501 and 505 of the Rehabilitation Act of 1973, which prohibit federal contractors 

to discriminate in employment against qualified individuals with disabilities; the Genetic Information Nondiscrimination Act (GINA) of May 21, 2008, which prohibits discrimination against employees based on genetic information; the Family and Medical Leave Act, which protects employees’ rights to medical and family leave; the Uniformed Services Employment and Reemployment Rights Act (USERRA); the Vietnam Era Veterans’ Readjustment Assistance Act of 1974 (VEVRAA); the Constitution of Puerto Rico, which prohibits discriminatory treatment; the Constitution of the State of Florida; the Employee Retirement Income Security Act of 1974 (ERISA); the Workers Adjustment Retraining and Notification Act (WARN); the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), except for the rights Executive may have to continue her health coverage under COBRA; the Federal Bankruptcy Act; and any other federal or state, including Florida and Puerto Rico laws (including, with respect to each law or regulation referenced above, any amendments thereto), whether based on statute, regulation or common law, providing: workers’ compensation benefits; restricting an employer's right to terminate employees or otherwise regulating employment; enforcing express or implied employment contracts; requiring an employer to deal with employees fairly or in good faith; non-occupational disability benefits; overtime; sick leave; minimum wage; providing recourse for alleged wrongful discharge, harassment or discrimination on account of any protected conduct including but not limited to age, race, color, gender, marital status, social or national origin, disability, social condition, political affiliation, political or religious beliefs, genetic information, for being a victim or being perceived as a victim of domestic violence, sexual aggression, stalking, sexual orientation or gender identity; retaliation; physical or personal injury; emotional distress; fraud; negligent misrepresentation; libel; slander; defamation and similar or related claims and any other statutory claim, tort claim, employment or other contract or implied contract claim, or common law claim for wrongful discharge, breach of an implied covenant of good faith and fair dealing, defamation, invasion of privacy, or any other claim, arising out of or in connection with or involving her employment with the Company, the termination of her employment with the Company, or involving any other matter, including but not limited to the continuing effects of her employment with the Company or termination of employment with the Company. The Executive further acknowledges that she is aware that statutes exist that render null and void releases and discharges of any claims, rights, demands, liabilities, action and causes of action that are unknown to the releasing or discharging party at the time of execution of the release and discharge. The Executive hereby expressly waives, surrenders and agrees to forego any protection to which she would otherwise be entitled by virtue of the existence of any such statute in any jurisdiction including, but not limited to, the State of Florida and the Commonwealth of Puerto Rico. The waivers and releases previously mentioned include any damages arising after the signature of this document as a result of the continuous effect of any act or omission that occurred before the signature of this document. 

(c) Exclusions. This Release is not intended to and does not limit the Executive’s right to file a charge or participate in an investigative proceeding of a governmental agency, including the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal, state or local governmental agency, regulator or commission. However, unless forbidden by Law, Executive agrees that if she files such a claim, she expressly waives and voluntarily surrenders and agrees to forego any monetary remedies, any type of damages and/or other compensation award from the Company Group arising out of those claims. This Release will not waive rights or claims that may arise after the Release becomes effective, nor will it apply to any rights of indemnification, contribution, or to be held harmless, or to the coverage afforded by any directors and officers insurance maintained by the Company Group, as in effect as of the Separation Date. This Release will not waive any rights to which the Executive is otherwise entitled with respect to her vested retirement benefits. This Release will not waive any right to enforce the terms of this Release. 

4.    Covenant Not to Sue. The Executive, for herself, her spouse, her heirs, executors, administrators, successors and assigns agrees not to bring, file, claim, sue, or permit to be brought, filed, or claimed any action, cause of action or proceeding regarding or in any way related to any of the claims described in Paragraph 3 hereof.  The Executive further agrees that this Release will constitute and may be pleaded as, a bar to any such claim, cause of action or proceeding. 

5.    Indemnification. The Executive will fully indemnify the Released Parties against and will hold the Released Parties harmless from any and all claims, costs, damages, demands, expenses (including without limitation attorneys' fees), judgments, losses or other liabilities of any kind or nature whatsoever arising from or directly or indirectly related to any or all of this Release and the conduct of the Executive hereunder, including without limitation any material breach or failure to comply with any or all of the provisions of this Release.

6.    Restrictive Covenants. The Executive acknowledges and agrees that she shall continue to be bound by the covenants set forth in Sections 5 and 6 of her Employment Agreement, and to the following covenants below.

(a) Definitions. As used herein, the following terms will have the following meanings:

(i) “Similar Business” shall mean the same or substantially the same business activity or activities performed by the Company or any of its subsidiaries or affiliates, as of the Separation Date. 

(ii) “Clients” shall mean any person or entity that was a client or customer of the Company or for whom Executive provided any services on behalf of the Company or any of its affiliates or subsidiaries at any time during the twelve (12) months prior to the Separation Date and which still maintains a business relationship with the Company as of the Separation Date.

(iii) “Confidential Information” shall mean 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 not 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 or any third party’s unauthorized disclosure resulting from any direct or indirect influence by Executive) 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.

(iv) “Work Product” shall mean 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 not) 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.

(v) The provisions contained in sub-sections 6(a)(iii) and (iv) does not interfere with Executive’s right to disclose confidential information or work product when said disclosure is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney, and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal, pursuant to the Defend Trade Secrets Act of 2016.

         (b) Non-Compete. Executive hereby acknowledges that she is familiar with the Confidential Information of the Company and its affiliates and subsidiaries. Executive acknowledges and agrees that the Company would be irreparably damaged if Executive were to provide services to any person directly or indirectly competing with the Company or any of its affiliates or subsidiaries or engaged in a Similar Business and that such competition by Executive would result in a significant loss of goodwill by the Company. Therefore, in consideration of the receipt of payments under Executive’s Employment Agreement and hereunder, including, without limitation, the acceleration of the vesting of the RSUs described herein, Executive agrees to the following restrictions, which Executive considers as reasonable:

(i) Similar Business: For a term of twelve (12) months immediately after the Separation Date, Executive shall not, directly or indirectly engage in any Similar Business services or activities within Latin America (including Puerto Rico). Executive recognizes and admits that this geographical restrictive covenant is necessary and enforceable since it keeps with the reality of the Company’s technological business and since because of her specialized knowledge and position within the Company, Executive gained access to all of the Company’s affiliates and subsidiaries businesses.

(ii) Clients: For a period of twelve (12) months after the Separation Date, Executive shall not, directly or indirectly, solicit or provide, without the written consent of the Company, any services for any Client, such as those Similar Business services or activities provided by Executive during her employment relationship. 

Executive further warrants and represents that she has agreed to this non-competition clause in exchange for the compensation, benefits and protections Executive received under the Employment Agreement and the consideration she is receiving under this Release.

(c) Non-Solicitation. For a term of twelve (12) months immediately after the Separation Date, Executive shall not, directly or indirectly through another person, (i) directly or indirectly 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. 

(d) Non-Disclosure; Non-Use of Confidential Information. Executive shall not disclose or use at any time after the Separation Date, any Confidential Information of which Executive was or became aware during her employment at the Company, whether or not such information was developed by her. Executive will take all appropriate steps to safeguard all Confidential Information in her possession and to protect it against disclosure, misuse, espionage, loss and theft. Executive shall deliver to the Company at the Separation Date, all memoranda, notes, plans, records, reports, computer tapes and software and other documents and data (and copies thereof, whether in written or electronic form) relating to the Confidential Information or the Work Product of the business of the Company that Executive may possess or have under her control.
(e) 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 her 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 her employment with the Company, or 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.

(f) Non-Disparagement. At all times after the Separation Date, neither Executive nor her agents or representatives, on the one hand, nor the Company itself, or its executives or boards of directors or managers, 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 her agents or representatives, the Company or any of the Company’s officers, directors or employees). The foregoing shall not be violated by truthful responses to (a) legal processes or governmental inquiries or (b) by private statements to the Company or any of Company’s officers, directors or employees.

7.    Severability. If any provision of this Release shall be found by a court of competent jurisdiction to be invalid or unenforceable, in whole or in part, then such provision shall be construed and/or modified or restricted to the extent and in the manner necessary to render the same valid and enforceable, or shall be deemed excised from this Release, as the case may require, and this Release shall be construed and enforced to the maximum extent permitted by law, as if such provision had been originally incorporated herein as so modified or restricted, or as if such provision had not been originally incorporated herein, as the case may be. The parties further agree to seek a lawful substitute for any provision found to be unlawful; provided, that, if the parties are unable to agree upon a lawful substitute, the parties desire and request that a court or other authority called upon to decide the enforceability of this Release modify the Release so that, once modified, the Release will be enforceable to the maximum extent permitted by the law in existence at the time of the requested enforcement.

8.    Waiver. A waiver by the Company of a breach of any provision of this Release by the Executive shall not operate or be construed as a waiver or estoppel of any subsequent breach by the Executive. No waiver shall be valid unless in writing and signed by an authorized officer of the Company.

9.    Miscellaneous Provisions.

a.    Representation. The Executive represents and certifies that she has carefully read and fully understands all of the provisions and effects of this Release and has knowingly and voluntarily entered into this Release freely and without coercion.  The Executive acknowledges that the Company advised her to consult with an attorney prior to executing this Release and further advised her that she had 45 calendar days within which to review and consider this Release. Executive understands that she can waive the 45-day period to evaluate and consider this Release and that, if she signs this Release in less time, she has done so voluntarily in order to obtain sooner the benefits under this Release. The Executive is voluntarily entering into this Release and no member of the Company Group nor any other Released Parties made any representations concerning the terms or effects of this Release other than those contained in the Release itself and the Executive is not relying on any statement or representation by the Company or any other Released Parties in executing this Release. The Executive is relying on her own judgment and that of her attorney to the extent so retained. The Executive also specifically affirms that this Release clearly expresses her intent to waive fraudulent inducement claims, and that she disclaims any reliance on representations about any of the specific matters in dispute.

b.    Revocation. The Executive acknowledges that she has seven (7) calendar days from the date this Release is executed in which to revoke her acceptance of this Release, and this Release will not be effective or enforceable until such 7-day period has expired. To be effective, any such revocation must be in writing and sent to Marcelino Zayas and Luis Rodríguez at the following email addresses marzayas@evertecinc.com and luis.rodriguez@evertecinc.com The revocation notice must be sent to Mr. Zayas and Mr. Rodríguez on or before the 7th calendar day after signing and must expressly state the Executive’s intention to revoke this Release.

c.    Return of Property. By signing this Release, the Executive agrees to return to the Company, within 10 business days at the Company’s expense, all of the Company’s property that is in the Executive’s possession, custody or control, including, without limitation, (a) all keys, access cards, credit cards, computer hardware (including but not limited to all hard drives, diskettes, compact disks, DVDs, electronic storage devices, and personal data assistants, and the contents of all such hardware, as well as any passwords or codes or instructions needed to operate any such hardware), computer software and programs, data, materials, papers, books, files, documents, records, policies, client and customer information and lists, marketing information, design information, specifications and plans, data base information and lists, mailing lists, notes, and any other property or information that the Executive has or had relating to the Company Group (whether those materials are in paper, electronic or computer-stored form or in any other form or medium), and (b) all documents and other property containing, summarizing, or describing any Confidential Information (as defined in the Employment Agreement), including all originals and copies. The Executive affirms that she has not retained any such property or information in any form, and will not give copies of such property or information or disclose their contents to any other person.

10.    Complete Agreement. This Release and the Exhibits attached herein, sets forth the entire agreement between the parties, and fully supersedes any and all prior agreements or understandings, whether oral or written, between the parties pertaining to actual or potential claims arising from the Executive's employment with the Company or the termination of the Executive's employment with the Company; provided, however, that all obligations and rights arising under Sections 5-9 of the Employment Agreement, which are incorporated by reference herein, shall not be superseded, shall be unaffected hereby, and shall remain in full force and effect. The Executive expressly warrants and represents that no promise or agreement which is not herein expressed has been made to her in executing this Release.

11.    No Pending or Future Lawsuits. The Executive represents that she, her spouse, heirs, executors, administrators or assigns have no lawsuits, claims or actions against the Company Group or any of the Released Parties. The Executive also represents that she does not intend to bring any claims on her own behalf or on behalf of any other person or entity against the Company Group or any of the Released Parties.

12.    No Admission of Liability. The Executive understands and acknowledges that this Release constitutes a compromise and settlement of any and all actual or potential disputed claims by the Executive. No action taken by the Company Group hereto, either previously or in connection with this Release, shall be deemed or construed to be (a) an admission of the truth or falsity of any actual or potential claims or (b) an acknowledgment or admission by the Company Group of any fault or liability whatsoever to the Executive or any third party.

13.    Reimbursement. If the Executive or her heirs, executors, administrators, successors or assigns (a) is in breach of or breaches Paragraphs 1, 3, 5, 6, 9(c) or 14 of this Release, or (b) attempts to challenge the enforceability of this Release, or (c) files a charge of discrimination or unjust dismissal, a lawsuit of any kind or nature against one or more of the Released Parties, or a claim of any kind or nature against one or more of the Released Parties, the Executive or her heirs, executors, administrators, successors or assigns shall be obligated to tender back to the Company, as a contractual remedy hereunder, eighty percent (80%) of the total payment made to her or them under this Release, or any amount of actual damages proven by the Company, if greater. Further, the Executive shall indemnify and hold harmless the Released Parties from and against all liability, costs and expenses, including attorneys' fees, arising out of said breach, challenge or action by the Executive, her heirs, executors, administrators, successors or assigns. The Company and the Executive acknowledge that the remedy set forth hereunder is not to be considered a form of liquidated damages and the tender back shall not be the exclusive remedy hereunder.

14.    Future Cooperation. In connection with any and all present and future claims, disputes, negotiations, investigations, lawsuits, arbitration or administrative proceedings involving the Company Group, the Executive agrees to make herself available, upon reasonable notice from the Company Group and without the necessity of subpoena, to provide information, documents, declarations or statements to the Company Group; meet with attorneys or other representatives of the Company Group; prepare for and give depositions or testimony, participate as a witness at trial; participate in trial preparation and/or otherwise fully cooperate in the investigation, defense or prosecution of any or all such matters. 

15.    Joint Participation. The parties hereto participated jointly in the negotiation and preparation of this Release, and each party has had the opportunity to obtain the advice of legal counsel and to review and comment upon the Release. Accordingly, it is agreed that no rule of construction shall apply against any party or in favor of any party. This Release shall be construed as if the parties jointly prepared this Release, and any uncertainty or ambiguity shall not be interpreted against one party and in favor of the other.

16.    Governing Law. THIS RELEASE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF FLORIDA, WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICTING PROVISION OR RULE (WHETHER OF THE STATE OF FLORIDA OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF FLORIDA TO BE APPLIED. IN FURTHERANCE OF THE FOREGOING, THE INTERNAL LAW OF THE STATE OF FLORIDA WILL CONTROL THE INTERPRETATION AND CONSTRUCTION OF THIS RELEASE, EVEN IF UNDER SUCH JURISDICTION’S CHOICE OF LAW OR CONFLICT OF LAW ANALYSIS, THE SUBSTANTIVE LAW OF SOME OTHER JURISDICTION WOULD ORDINARILY APPLY.

		
	1.
	     Enforcement  

a.    Arbitration. Any controversy, dispute or claim arising out of or relating to this Release, 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 party 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 the parties 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 her litigation costs and expenses. 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.

b.    Waiver of Jury Trial. THE COMPANY AND THE EXECUTIVE EACH HEREBY IRREVOCABLY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS RELEASE.

c.    Intention of the Parties.  It is the intention of the parties that the interpretation of this Release be construed in favor of the release of all claims against the Released Parties.   

18.    Execution of Release. This Release may be executed in counterparts, each of which shall be considered an original, but which when taken together, shall constitute one Release. The Release, to the extent signed and delivered by means of a facsimile machine or by PDF File (portable document format file), shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the originally signed version delivered in person. At the request of either party hereto, the other party shall re-execute original forms hereof and deliver them to all other parties. 

PLEASE READ THIS RELEASE AND CAREFULLY CONSIDER ALL OF ITS PROVISIONS BEFORE SIGNING IT. THIS RELEASE CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

[Signature Page Follows]

IN WITNESS WHEREOF, the Executive and the Company have voluntarily signed this Separation Agreement and General Release consisting of thirteen (13) pages and two Exhibits, effective as of the date first written above, this 24th of April, 2017.

EVERTEC GROUP, LLC

By:                      
Name: Morgan M. Schuessler
Title:   Chief Executive Officer 

MARIANA LISCHNER GOLDVARG

Signature:  ______________________
        Mariana Lischner Goldvarg

Exhibit A

Summary of RSU Grants

	
					
	Grant Date
	# of RSUs
	Type of RSUs
	Original Vesting Date
	Agreement under the Release

	June/1/2015
	44,984
	Time-Based
	June/1/2018
	Remain outstanding

	Feb/19/2016
	11,433
	Time-Based
	Feb/19/2017
	Vested prior to the Release

	Feb/19/2016
	11,433
	Time-Based
	Feb/19/2018
	Accelerated

	Feb/19/2016
	11,433
	Time-Based
	Feb/19/2019
	Accelerated

	Feb/19/2016
	14,407
	Performance-Based (Adj. TSR)
	Feb/19/2019
	Prorated to 5,602 RSUs and remain outstanding

	Feb/19/2016
	17,150
	Performance-Based (Diluted EPS)
	Feb/19/2019
	Prorated to 6,669 RSUs and remain outstanding

Exhibit B

Professional Services Agreement

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