Document:

EX-10.5

 Exhibit 10.5 
 April 17, 2013 
 Popular, Inc. 
 209 Muñoz Rivera Avenue 
 Hato Rey, Puerto Rico 00918 

 

	 	Re:	Termination of Popular Consulting Agreement 

 Reference is hereby made to that certain Consulting Agreement, dated as of September 30, 2010 (the “Consulting Agreement”),
by and among EVERTEC Intermediate Holdings, LLC. (f.k.a. Carib Holdings, Inc.), a limited liability company organized under the laws of the Commonwealth of Puerto Rico (“EVERTEC Holdings”), EVERTEC Group, LLC. (f.k.a.
EVERTEC, Inc.), a limited liability company organized under the laws of the Commonwealth of Puerto Rico (“EVERTEC LLC”), and Popular, Inc., a corporation organized under the laws of the Commonwealth of Puerto Rico
(“Popular”). Capitalized terms used herein without definition shall have the meanings set forth in the Consulting Agreement. 
 EVERTEC, Inc. (f.k.a. Carib Latam Holdings, Inc.), a corporation organized under the laws of the Commonwealth of Puerto Rico (“EVERTEC”) and the ultimate parent company of EVERTEC
Holdings and EVERTEC LLC, is pursuing an underwritten public offering of its equity securities (the “IPO”). In connection with the consummation of the IPO, the parties hereto desire to terminate the Consulting Agreement in
accordance with the terms and conditions described in this letter agreement. 
 The parties hereto hereby agree that the
Consulting Agreement shall automatically terminate upon the later to occur of (a) the consummation of the IPO on the “Closing Date” as defined in the underwriting agreement entered into by EVERTEC and the selling stockholders named
therein in connection with the IPO (such date and time being referred to as the “IPO Closing”) and (b) receipt by Popular of (i) a Lump Sum Payment of $8,191,624.31, which shall be paid to Popular upon the IPO
Closing, (ii) any and all expenses which are owed but have not been reimbursed in accordance with Section 4(c) of the Consulting Agreement, which expenses shall be paid to Popular upon the IPO Closing, and (iii) any other unpaid fees
and expenses owed, as of the termination of the Consulting Agreement, to Popular pursuant to the Consulting Agreement (including, without limitation, fees payable pursuant to Sections 6 and 7 of the Consulting Agreement), which amounts shall be paid
to Popular upon the IPO Closing. The parties further agree that any payments set forth in this letter agreement may be paid to Popular by EVERTEC, EVERTEC Holdings or EVERTEC LLC. 

 Upon the IPO Closing and the payment of the amounts set forth in this letter agreement,
(i) the Consulting Agreement shall terminate, and shall be of no further force and effect, except that Section 5 (Indemnification) of the Consulting Agreement shall survive such termination and continue in full force and effect and
(ii) no party to the Consulting Agreement shall have any further rights or obligations under the Consulting Agreement (other than Section 5 thereof). 
 This letter agreement contains the entire understanding of the parties with respect to its subject matter and supersedes any and all prior agreements, and neither it nor any part of it may in any way be
altered, amended, extended, waived, discharged or terminated except by a written agreement signed by each of the parties hereto. 
 This letter agreement shall be binding upon and shall inure to the benefit of the successors and assigns of each of the parties hereto. 

This letter agreement shall be governed and construed in accordance with the laws of the State of New York (without regard to the laws of
any other jurisdiction that might be applied because of the conflicts of laws rules of the State of New York). 
 This letter
agreement may be executed simultaneously in any number of counterparts. Each counterpart shall be deemed to be an original, and all such counterparts shall constitute one and the same instrument. 

[Signature Page Follows] 

 Please acknowledge your consent and agreement by signing a counterpart hereof in the space
provided below. 
  

			
	Sincerely,
	
	EVERTEC, INC.
		
	By:	 	 /s/ Peter Harrington

	Name:	 	Peter Harrington
	Title:	 	President and CEO
	
	 EVERTEC INTERMEDIATE
 HOLDINGS, LLC

		
	By:	 	 /s/ Peter Harrington

	Name:	 	Peter Harrington
	Title:	 	President and CEO
	
	EVERTEC GROUP, LLC
		
	By:	 	 /s/ Peter Harrington

	Name:	 	Peter Harrington
	Title:	 	President and CEO

  

			
	 AGREED AND ACCEPTED AS OF THE
 DATE SET FORTH ABOVE:

	
	POPULAR, INC.
		
	By:	 	 /s/ Ivan Pagan

	Name:	 	Ivan Pagan
	Title:	 	SPV

			
	
	AP CARIB HOLDINGS, LTD.
	By:	 	Apollo Management VII, L.P., its sole director
	By:	 	AIF VII Management, LLC, its general partner

			
		
	By:	 	 /s/ Scott Ross

	Name:	 	
	Title:	 	

 [Signature Page to Termination of Apollo Consulting Agreement] 

					
	 cc:
	 	  
 Popular, Inc.

209 Muñoz Rivera Avenue
 Hato Rey, Puerto
Rico 00918
 Attention: Ignacio Alvarez, Esq.
	  	  
 Sullivan & Cromwell LLP

125 Broad Street
 New York, New York
10004
 Attention: Donald J. ToumeyEX-10.6

 Exhibit 10.6 
 SATISFACTION AND DISCHARGE AGREEMENT (this “Discharge”), dated as of April 17, 2013, by and among EVERTEC Group, LLC, a Puerto Rico limited liability company (the
“Company”), and EVERTEC Finance Corp., a Puerto Rico corporation and wholly-owned subsidiary of the Company (“Finance Corp.” and, together with the Company, the “Co-Issuers”) and Wilmington Trust,
National Association, as trustee (the “Trustee”). 
 RECITALS 

A. The Co-Issuers and the Trustee have entered into that certain Indenture, dated as of September 30, 2010 (as supplemented
by Supplemental Indenture No. 1, dated as of April 17, 2012, Supplemental Indenture No. 2, dated as of May 7, 2012 and Supplemental Indenture No. 3, dated as of May 7, 2012), by and among the Co-Issuers, the guarantors
party thereto and the Trustee (the “Indenture”), relating to the issuance by the Co-Issuers of the 11% Senior Notes due 2018 (the “Notes”), of which $250,500,000 principal amount of Notes are outstanding on the date
hereof. 
 B. Section 8.01 of the Indenture provides that, upon the occurrence of certain events, the
Indenture shall be discharged and shall cease to be of further effect as to all outstanding Notes and their obligations under the Indenture with respect to the Holders of the Notes. 

A. On March 29, 2013, the Company delivered to the Trustee, and the Trustee delivered to each Holder (i) a Notice of
Conditional Partial Redemption for $91.0 million principal amount of the Notes, with an anticipated redemption date of April 29, 2013 (the “Partial Redemption Date”) assuming that the conditions set forth in such notice are
satisfied, at the redemption price payable to Holders of record on the Partial Redemption Date of 111.000% of the principal amount of such Holder’s Notes, plus accrued and unpaid interest for the period from and including April 1, 2013 to
but excluding the Partial Redemption Date (the “Partial Redemption Price”) and (ii) a Notice of Conditional Full Redemption for all of the Notes (after giving effect to the redemption of $91.0 million principal amount of the
Notes described in clause (i)), with an anticipated redemption date of April 30, 2013 (the “Full Redemption Date”) assuming that the conditions set forth in such notice are satisfied, at the redemption price payable to Holders
of record on the Full Redemption Date of 100% of the principal amount of such Holder’s Notes, plus a make-whole premium based on a 50 basis point spread over a reference United States Treasury security which will be determined in accordance
with the Indenture on the date that is two business days preceding the Full Redemption Date, plus accrued and unpaid interest for the period from and including April 1, 2013 to but excluding the Full Redemption Date (the “Full
Redemption Price”). 
 B. In accordance with Section 8.01(a)(i) of the Indenture, on the date
hereof, the Issuers have irrevocably deposited with the Trustee funds in respect of the Notes in an amount sufficient to pay and discharge the entire Indebtedness on the Notes. 

C. Pursuant to Section 8.01(a)(ii) of the Indenture, the Issuers have paid all other sums payable under the Indenture.

 D. The Issuers have requested the Trustee to execute this instrument acknowledging the discharge of the Issuers’
obligations under the Notes and the Indenture. 

  
 1 

 E. In connection with such request, the Issuers have delivered to the Trustee the
Officer’s Certificate and Opinion of Counsel required pursuant to Section 8.01 of the Indenture. 
 NOW,
THEREFORE, for and in consideration of the premises set forth herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 

Section 1. The Trustee hereby acknowledges receipt from the Company of cash sufficient to pay the Partial Redemption Price
and the Full Redemption Price. 
 Section 2. The Trustee hereby acknowledges receipt from the Issuers of the Receipt
and Irrevocable Letter of Instruction of even date herewith. 
 Section 3. The Trustee hereby acknowledges that the
obligations of the Issuers under the Notes and the Indenture are hereby discharged and that the Indenture ceases to be of further effect, except as otherwise provided in Section 8.01 of the Indenture, and except to the extent that the
Issuers must supply the Trustee with the final Full Redemption Price two Business Days prior to the Full Redemption Date. 

Section 4. On the Full Redemption Date, provided that the Holders have satisfied all conditions under the Indenture to
receive payment of the Full Redemption Price, the Trustee shall cancel the global notes representing the $250,500,000 outstanding aggregate principal amount of the Notes. 
 Section 5. This Discharge shall be governed by, and construed in accordance with, the laws of the State of New York. 
 Section 6. The parties hereto may sign one or more copies of this Discharge in counterparts, all of which together shall constitute one and the same agreement. 

Section 7. Terms used herein and not otherwise defined shall have the same meaning as ascribed to them in the Indenture.

*        *        *      
  * 

  
 2 

 IN WITNESS WHEREOF, each of the parties has caused this Discharge to be duly
executed, as of the date first written above. 
  

					
	EVERTEC GROUP, LLC
	EVERTEC FINANCE CORP.
		
	By	 	 /s/ Juan J. Román

		 	Name:	 	Juan J. Román
		 	Title:	 	Executive Vice President and Chief
		 		 	Financial Officer
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Jane Schweiger

		 	Name:	 	Jane Schweiger
		 	Title:	 	Vice President

 [EVERTEC Notes Satisfaction and Discharge Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00216-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00216-of-00352.parquet"}]]