0000950144-07-000986 Sample Contracts

EMPLOYMENT AGREEMENT
Employment Agreement • February 9th, 2007 • First Bancorp /Pr/ • State commercial banks • Puerto Rico

WHEREAS, the Company wishes to retain the services of ______and the retention of ______ services for and on behalf of the Company and FirstBank Puerto Rico (the “Bank”) is of material importance to the preservation and enhancement of the value of the Company’s and the Bank’s business;

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CONTRACT FOR CONSULTING SERVICE APPEARS NOW
Consulting Agreement • February 9th, 2007 • First Bancorp /Pr/ • State commercial banks • Puerto Rico

PARTY OF THE FIRST PART: Firstbank Puerto Rico, (hereinafter “the Bank”) represented by Mr. Luis Beauchamp in his capacity as Senior Executive Vice President, and

SEPARATION AGREEMENT AND GENERAL RELEASE
Separation Agreement • February 9th, 2007 • First Bancorp /Pr/ • State commercial banks

THIS SEPARATION AGREEMENT AND GENERAL RELEASE (hereinafter, “this Agreement”) is made and entered into by and between Fernando L. Batlle (hereinafter, “the Executive”) and FIRSTBANK PUERTO RICO INC. (hereinafter, “the Bank”), represented by its Senior Executive Vice-President, Luis Beauchamp.

AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
Employment Agreement • February 9th, 2007 • First Bancorp /Pr/ • State commercial banks

This AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (this “Amendment”), is entered into and is effective as of February 24, 2006, by and between, on the one hand, FIRST BANCORP (the “Company”), a corporation organized under the laws of the Commonwealth of Puerto Rico (the “Commonwealth”), and FIRSTBANK PUERTO RICO (the “Bank”), a banking institution organized under the laws of the Commonwealth that is a wholly-owned subsidiary of the Company, and, on the other hand, LAWRENCE ODELL (“L. Odell”), General Counsel and Executive Vice President of the Company.

SERVICES AGREEMENT
Services Agreement • February 9th, 2007 • First Bancorp /Pr/ • State commercial banks

This SERVICES AGREEMENT (this “Agreement”) is entered into and is effective as of February 15, 2006, by and between, on the one hand, MARTÍNEZ ODELL & CALABRIA (the “Contractor”), a Puerto Rico law firm, and, on the other hand, FIRST BANCORP (“FirstBank”), a corporation organized under the laws of the Commonwealth of Puerto Rico (the “Commonwealth”).

EMPLOYMENT AGREEMENT
Employment Agreement • February 9th, 2007 • First Bancorp /Pr/ • State commercial banks • Puerto Rico

AGREEMENT entered into and effective as of February 15, 2006 by and between FIRST BANCORP PUERTO RICO (the “Company”) and Lawrence Odell (or “L. Odell”).

EMPLOYMENT AGREEMENT
Employment Agreement • February 9th, 2007 • First Bancorp /Pr/ • State commercial banks • Puerto Rico

WHEREAS, the Company wishes to retain the services of F. Scherrer and the retention of F. Scherrer’s services for and on behalf of the Company and FirstBank Puerto Rico (the “Bank”) is of material importance to the preservation and enhancement of the value of the Company’s and the Bank’s business;

AMENDMENT NO. 1 TO SERVICES AGREEMENT
Services Agreement • February 9th, 2007 • First Bancorp /Pr/ • State commercial banks

This AMENDMENT NO. 1 TO SERVICES AGREEMENT (this “Amendment”), is entered into and is effective as of February 24, 2006, by and between, on the one hand, FIRST BANCORP (“FirstBank”), a corporation organized under the laws of the Commonwealth of Puerto Rico (the “Commonwealth”), and, on the other hand, MARTÍNEZ ODELL & CALABRIA (the “Contractor”), a Puerto Rico law firm.

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