Document:

EX-10.3

 Exhibit 10.3 
 AMENDMENT TO STOCK OPTION AGREEMENT 
 This
AMENDMENT (“Amendment”) is entered into as of August 1, 2013, by and between EVERTEC, Inc. (f/k/a Carib Latam Holdings, Inc.) a corporation organized and existing under the laws of the
Commonwealth of Puerto Rico (the “Company”), and Félix M. Villamil Pagani (the “Participant” and together with the Company, the “Parties”).

 WITNESSETH: 
 WHEREAS, the Company and the Participant have previously entered into an Amended and Restated Stock Option Agreement, dated as of May 9, 2012 (the “Option Agreement”), pursuant to
which the Company granted to the Participant options to purchase Common Shares of the Company, subject to the terms and conditions set forth in the Option Agreement and in the EVERTEC, Inc. Amended and Restated 2010 Equity Incentive Plan (the
“Plan”); 
 WHEREAS, the Parties desire to amend certain terms of the Option Agreement as set forth herein; and

 WHEREAS, capitalized terms used but not otherwise defined in this Amendment shall have the meanings ascribed to such
terms in the Option Agreement or the Plan. 
 NOW, THEREFORE, for good and valuable consideration, the receipt of
which is hereby acknowledged, the Parties agree as follows: 
  

	 	1.	Section 1 of the Option Agreement is hereby amended by deleting the number “77,910” and inserting the number “38,955” in its place and by
deleting the term “$2.59” and inserting the term “$1.295” in its place. 

  

	 	2.	Section 2(a) of the Option Agreement is hereby deleted in its entirety and replaced with the following: 

“General. Subject to the terms and conditions set forth herein and the Plan, 38,955 Options will vest on
August 7, 2013.” 
  

	 	3.	Section 4 of the Option Agreement is hereby deleted in its entirety and replaced with the following: 

“Post-Termination Exercisability. Subject to Section 2(a) above, the Options shall remain
exercisable until the expiration of the Option Term.” 
  

	 	4.	Except as expressly modified by this Amendment, the terms and conditions set forth in the Option Agreement shall remain in full force and effect. Nothing in this
Amendment is intended to affect the Participant’s right to receive the cash payment in respect of the Options related to the extraordinary dividend payment by the Company on December 18, 2012 (the “Option Payment”). The
Option Payment will be made in accordance with that certain letter from the Company to the Participant dated as of December 18, 2012 without giving effect to the April 2013 stock split. 

	 	5.	This Amendment shall be governed and construed in accordance with the laws of the Commonwealth of Puerto Rico, without giving effect to any choice of law or conflicting
provision or rule (whether of the Commonwealth of Puerto Rico or any other jurisdiction) that would cause the laws of any jurisdiction other than the Commonwealth of Puerto Rico to be applied. 

 

	 	6.	This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same
instrument. 

 [SIGNATURE PAGE FOLLOWS] 

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

			
	EVERTEC, INC.
		
	By:	 	/s/ Juan J. Roman
		 	Name: Juan J. Roman
		 	Title: Chief Financial Officer
	
	PARTICIPANT
		
	By:	 	/s/ Félix M. Villamil Pagani
		 	Félix M. Villamil PaganiEX-10.4

 Exhibit 10.4 

EVERTEC, INC. 
 2013 EQUITY INCENTIVE PLAN 
 RESTRICTED STOCK UNIT AWARD AGREEMENT

 THIS RESTRICTED STOCK UNIT AWARD AGREEMENT, made as of this [__] day of August, 2013 (the “Date of
Grant”), by and between EVERTEC, Inc. (the “Company”) and [            ] (the “Participant”). 

W I T N E S S E T H 
 WHEREAS, the Company maintains the EVERTEC, Inc. 2013 Equity Incentive Plan (the “Plan”); 
 WHEREAS, Section 9 of the Plan authorizes the issuance of restricted stock units with respect to the common shares, par value $0.01 per share, of the Company (“Restricted Stock
Units”); and 
 WHEREAS, in connection with the Participant’s service as a member of the Board, the Company
desires to award to the Participant [            ] Restricted Stock Units, subject to the terms and conditions of this Agreement. 

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

  

	1.	Basis for Award. This Award is made under the Plan pursuant to Section 9 thereof for services to be rendered to the Company by the Participant as a
member of the Board. 

  

	2.	Restricted Stock Units Awarded. 

  

	 	(a)	The Company hereby awards to the Participant, in the aggregate, [            ] Restricted Stock Units, which
shall be subject to the terms of the Plan and this Agreement. Each Restricted Stock Unit represents the unfunded and unsecured promise of the Company to deliver to the Participant one Common Share on the Settlement Date (as defined below).

  

	 	(b)	The Restricted Stock Units shall be credited to a separate account maintained for the Participant on the books of the Company (the
“Account”). The Award shall vest and be settled in accordance with Section 3 hereof. 

  

	3.	 Vesting and Settlement. The Restricted Stock Units shall vest and become non-forfeitable on the first anniversary of the Date of Grant
(the “Vesting Date”); provided, that, the Participant is then providing service to the Company. The Company shall issue and deliver to the Participant one Common Share for each vested Restricted
Stock Unit (the “RSU Shares”) (and upon such settlement, the Restricted Stock Units shall cease to be credited to the Account) on the sixtieth (60th) day following the Vesting Date (such date, the “Settlement Date”) and upon such
settlement the Company shall enter the Participant’s name as a shareholder of record with respect to the RSU Shares on the books of the Company. 

	4.	Dividend Equivalents. If the Company pays a cash dividend on its outstanding Common Shares for which the Record Date (for purposes of this Agreement, the
“Record Date” is the date on which shareholders of record are determined for purposes of paying the cash dividend on Common Shares) occurs after the Date of Grant but prior to the Vesting Date, the Participant shall receive a
lump sum cash payment on the Settlement Date equal to the aggregate amount of the cash dividends paid by the Company on a single Common Share multiplied by the number of Restricted Stock Units awarded under this Agreement that are unvested and
unpaid as of each applicable Record Date. 

  

	5.	Restrictions. The Award granted hereunder may not be sold, pledged or otherwise transferred (other than by will or the laws of descent and distribution or
as otherwise permitted by the Committee) and may not be subject to lien, garnishment, attachment or other legal process. The Participant acknowledges and agrees that, with respect to each Restricted Stock Unit credited to his Account, the
Participant has no voting rights with respect to the Company unless and until such Restricted Stock Unit is settled in RSU Shares pursuant to Section 3 hereof. 

 

	6.	Stockholder Agreement. Notwithstanding anything herein to the contrary, in no event will RSU Shares be delivered upon vesting and settlement of the
Restricted Stock Units unless and until the Participant executes an Adoption Agreement pursuant to which Participant will become bound by the terms and conditions set forth in that certain Stockholder Agreement, dated April 17, 2012, as may be
amended from time to time, by and among the Company and the stockholders of the Company, which in all events shall be within thirty (30) days following the Vesting Date. 

 

	7.	Compliance with Laws and Regulations. The issuance and transfer of RSU Shares shall be subject to compliance by the Company and the Participant with all
applicable requirements of securities laws and with all applicable requirements of any stock exchange on which the Company’s Common Shares may be listed at the time of such issuance or transfer. 

 

	8.	General Assets. All amounts credited to the Participant’s Account under this Agreement shall continue for all purposes to be part of the general
assets of the Company. The Participant’s interest in the Account shall make the Participant only a general, unsecured creditor of the Company. 

  

	9.	Rights as Shareholder. Upon and following the Settlement Date, the Participant shall be the record owner of the RSU Shares unless and until such shares
are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights). Prior to the Settlement Date, the Participant shall not be deemed for any purpose to be the owner of
the Common Shares underlying the Restricted Stock Units subject to the Award, other than with respect to the Participant’s right to receive payment pursuant to Section 4 hereof. 

  
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	10.	Governing Law. This Agreement shall be construed and interpreted in accordance with the laws of the Commonwealth of Puerto Rico applicable to contracts to
be performed therein. 

  

	11.	Plan. Except as otherwise provided herein, or unless the context clearly indicates otherwise, capitalized terms herein which are defined in the Plan have
the same definitions as provided in the Plan. The terms and provisions of the Plan are incorporated herein by reference, and the Participant hereby acknowledges receiving a copy of the Plan. In the event of a conflict or inconsistency between the
terms and provisions of the Plan and the provisions of this Agreement, this Agreement shall govern and control. 

  

	12.	Taxes. Upon settlement of the Award in accordance with Section 3 hereof, the Participant shall recognize taxable income in respect of the
Award and the Company shall report such income to the appropriate taxing authorities in respect of the Award as it determines to be necessary and appropriate. The Participant shall be responsible for payment of any taxes due on income in respect of
the Award. For purposes hereof, Common Shares shall be valued at Fair Market Value. 

  

	13.	Notice. Every notice or other communication relating to this Agreement shall be in writing, and shall be mailed to or delivered to the party for whom it
is intended at such address as may from time to time be designated by it in a notice mailed or delivered to the other party as herein provided; provided, that, unless and until some other address be so designated, all notices or
communications by the Participant to the Company shall be mailed or delivered to the Company at its principal office, and all notices or communications by the Company to the Participant may be given to the Participant personally or may be mailed to
him/her at his/her address as recorded in the records of the Company. 

  

	14.	Section 409A. Notwithstanding anything herein to the contrary, this Agreement is intended to be interpreted and applied so that the payments and
benefits set forth herein either shall either be exempt from the requirements of Code Section 409A, or shall comply with the requirements of Code Section 409A, and, accordingly, to the maximum extent permitted, this Agreement shall be
interpreted to be exempt from or in compliance with Code Section 409A. If the Participant notifies the Company (with specificity as to the reason therefor) that the Participant believes that any provision of this Agreement would cause the
Participant to incur any additional tax or interest under Code Section 409A or the Company independently makes such determination, the Company shall, after consulting with the Participant, reform such provision (or award of compensation or
benefit) to attempt to comply with or be exempt from Code Section 409A through good faith modifications to the minimum extent reasonably appropriate. To the extent that any provision hereof is modified in order to comply with Code
Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to Participant and the Company without violating the provisions of
Section 409A. Notwithstanding the foregoing, none of the Company, its Affiliates, officers, directors, employees, or agents guarantees that this Agreement complies with, or is exempt from, the requirements of Code Section 409A and none of
the foregoing shall have any liability for the failure of this Agreement to comply with, or be exempt from, such requirements. 

  
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	15.	No Right to Continued Service. Nothing in this Agreement shall be deemed by implication or otherwise to impose any limitation on any right of the Company
or an Affiliate to terminate the Participant’s service. 

  

	16.	Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision
of this Agreement, and each other provision shall be severable and enforceable to the extent permitted by law. 

  

	17.	Entire Agreement. This Agreement and the Plan contain the entire agreement between the parties hereto with respect to the subject matter contained herein
and supersede all prior communications, representations and negotiations in respect thereto. No change, modification or waiver of any provision of this Agreement shall be valid unless in writing and signed by the parties hereto.

  

	18.	Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by the Participant or the Company to the Committee for
review. The resolution of such a dispute by the Committee shall be binding on the Company and the Participant. 

  

	19.	Counterparts. This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and
hereto were upon the same instrument. 

 [signature page follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of the date first set
forth above. 
  

			
	EVERTEC, INC.
		
	By:	 	 
		 	Name:
		 	Title:
	
	PARTICIPANT
		
	By:	 	 
		 	Name:

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