0000950144-07-002884 Sample Contracts

Employment Terms and Conditions for the Position of President of Santander Financial Services
Santander Bancorp • March 30th, 2007 • National commercial banks • Puerto Rico

The present Employment Agreement for the position of President of Santander Financial Services is effective March 1, 2006. The parties in this Agreement or Contract are Santander Financial Services in Puerto Rico, (subsequently referred to as Santander Financial Services) and Mr. Bartolomé Vélez (subsequently referred to as the President).

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AGREEMENT OF BENEFITS COVERAGE AGREED WITH OFFICERS OF GRUPO SANTANDER
Agreement of Benefits • March 30th, 2007 • Santander Bancorp • National commercial banks • Madrid

This Agreement (the “Agreement”) is made and entered into as of March 28, 2007, by and between ___, a corporation organized and existing under the laws of the Commonwealth of Puerto Rico (hereinafter “Affiliate”), represented by José Ramón González, in his capacity as President, and María Calero Padrón, in her capacity as Executive Vice-President, and Banco Santander Central Hispano, S.A., a bank organized and existing under the laws of Spain (hereinafter “Santander”), represented by Manuel Arias de la Cruz and Juan Carlos Díez Zapatero.

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