FORM OF 2014 TRANSITION AWARD LETTER]Popular Inc • November 10th, 2014 • State commercial banks
Popular, Inc. (“Popular” or “We”) has selected you (“You” or “Your”) to receive a special Transition Award to encourage you to remain employed by Popular (and refrain from post-employment competition) over the next three years. The total value of your Transition Award is [$ ].
FORM OF 2014 TRANSITION RESTRICTED STOCK AWARD AGREEMENT] POPULAR, INC. Recipient:Restricted Stock Award Agreement • November 10th, 2014 • Popular Inc • State commercial banks • Puerto Rico
The Compensation Committee of the Board of Directors of Popular, Inc. (the “Committee”) has granted you this award of Restricted Stock (“Restricted Stock”). This award agreement (this “Award Agreement”) and the letter, dated September 25, 2014, to which this Award Agreement is appended as an exhibit (the “Letter Agreement”) set forth the terms and conditions of your Award. This Award is made under the Popular, Inc. 2004 Omnibus Incentive Plan, as amended (the “Plan”) and, except as otherwise provided herein and in the Letter Agreement, is subject to the terms of the Plan. Capitalized terms used but not otherwise defined in this Award Agreement have the meanings given in the Plan.
