0001099958-05-000015 Sample Contracts

March 23, 2005 Mr. Carlos García Santander BanCorp Puerto Rico Dear Mr. García:
Santander Bancorp • March 23rd, 2005 • National commercial banks

We hereby confirm the terms and conditions with regards to your ratification as Senior Executive Vice President and Chief Operating Officer of Santander BanCorp and Banco Santander Puerto Rico (hereafter "the Group"):

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March 23, 2005 Mr. José Ramón González Santander BanCorp Puerto Rico Dear Mr. González:
Santander Bancorp • March 23rd, 2005 • National commercial banks

We hereby confirm the terms and conditions with regards to your ratification as President and Chief Executive Officer of Santander BanCorp and Banco Santander Puerto Rico (hereafter "the Group"):

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