SEC Contract Filing

Filing Date: 2015-03-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.40
<SEQUENCE>6
<FILENAME>d827106dex1040.htm
<DESCRIPTION>EX-10.40
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<TITLE>EX-10.40</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXHIBIT 10.40 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EVERTEC, INC. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2013
EQUITY INCENTIVE PLAN </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RESTRICTED STOCK UNIT AWARD AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>THIS RESTRICTED STOCK UNIT AWARD AGREEMENT </B>(the &#147;<B><I>Agreement</I></B>&#148;) is made as of this
1<SUP STYLE="font-size:85%; vertical-align:top">st</SUP> day of January, 2014 (the &#147;<B><I>Date of Grant</I></B>&#148;), by and between EVERTEC, Inc. (the &#147;<B><I>Company</I></B>&#148;) and the person whose signature, name and title appear
in the signature block hereof (the &#147;<B><I>Participant</I></B>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>W I T N E S S E T H </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WHEREAS,</B> the Company maintains the EVERTEC, Inc. 2013 Equity Incentive Plan (the &#147;<B><I>Plan</I></B>&#148;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WHEREAS,</B> in connection with the Participant&#146;s service as Interim Chief Executive Officer of the Company (the
&#147;<B><I>Employment</I></B>&#148;), the Company desires to grant Restricted Stock Units (&#147;<B><I>RSUs</I></B>&#148;) to the Participant (the &#147;<B><I>Award</I></B>&#148;), subject to the terms and conditions of the Plan and this Agreement.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE,</B> in consideration of the covenants and agreements contained herein and for other good and valuable consideration, the parties agree
as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Grant of RSUs</U></B>. In consideration of the Employment, the Company will grant to the Participant
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RSUs. Each RSU represents the unfunded and unsecured promise of the Company to deliver to the Participant one share of common
stock, par value $.01 per share, of the Company (the &#147;<B><I>Common Stock</I></B>&#148;) on the Settlement Date (as defined in <U>Section&nbsp;4</U> hereof), subject to the sole discretion of the Company to settle the Award on a cash basis.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Purchase Price</U></B>. The purchase price of the RSUs shall be deemed to be zero U.S. Dollars per share. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"><B><U>Vesting</U></B>. The RSUs shall vest and become non-forfeitable upon the earlier of (a)&nbsp;and (b)&nbsp;below (the &#147;<B><I>Vesting Date</I></B>&#148;): </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">the day immediately preceding the Company&#146;s next Annual Meeting of Stockholders following the Date of Grant; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">termination of the Employment as the result of the Participant&#146;s death or Disability (defined below). </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">provided, in each case that the Participant is actively carrying out his or her duties in connection with the Employment at all times from the
Date of Grant through the Vesting Date. Furthermore, in the event that the Directorship is terminated prior to the Vesting Date for any reason other than as a result of the Participant&#146;s death or Disability, the RSUs shall be forfeited for no
consideration. For purposes of this section, &#147;<B><I>Disability</I></B>&#148; means the Participant&#146;s inability to perform the Employment by reason of any medically determinable physical or mental impairment for a period of six
(6)&nbsp;months or more in any twelve (12)&nbsp;month period. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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