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Procedures For Corporate Sponsorships And Donations

These Procedures for Corporate Sponsorships and Donations (“Procedures”) have been adopted to establish the general rules and procedures by which EVERTEC, Inc. (“EVERTEC”) will (1) participate as a sponsor in external activities, such as conventions, a well as, (2) donate funds, materials or time to charities and other events.

Sponsorships And Donations Committee

EVERTEC’s Sponsorships and Donations Committee (“CAD”, for its Spanish acronym) is responsible for ensuring compliance with these Procedures:

CAD will consist of the following members:

• People, Communications and Marketing Division Manager
• Communications and Marketing Department Manager
• Marketing Officer

The Marketing Officer will coordinate CAD’s events and will be designated as CAD’s coordinator; with the guidance of the Communications and Marketing Department Manager.

CAD’s responsibilities include:

• Meeting regularly once a month or as necessary when important sponsorship or donation proposals (collectively referred therein as “proposals”) require immediate attention.
• Evaluating all proposals.
• Maintaining up-to-date summaries and documentation of all proposals whether approved or rejected.

Approval Authority:

In general, CAD is authorized to approve proposals up to $50,000. Any proposal that exceeds this limit must also be approved by the President of EVERTEC. However, a proposal of less than $50,000 may require the President’s approval if the nature of the proposal merits such attention.

Procedures

In general terms, CAD will ensure that all corporate sponsorships and donations are completed in accordance with these Procedures. Once a proposal is received, CAD will categorize its benefits and characteristics and identify the representatives of the Business Units who will be responsible for consulting with CAD throughout each of the following five steps:

Step 1 Initial Evaluation:

• Any person (including employees) may submit a proposal by sending it (electronically or by traditional mail) to the Marketing Officer.
• CAD may also require a written marketing plan for the proposal depending on the cost, importance, estimated exposure, and other benefits associated therewith. The person submitting the proposal will be required tinclude logistical, promotional and advertising details as part of the proposal.
• As a general rule, only those proposals that promote the following will be evaluated;
  Sponsorships – Business related activities such as conventions, events, business forums, and seminars, among others which support EVERTEC’s business objectives and strategies.
  Donations – Technology, education and community oriented donations that are related to EVERTEC’s product and service lines.
• For illustrative purposes only, the following examples are considered activities that do not support EVERTEC’s objectives and strategies and, therefore, most likely will not be approved:
  • Student, cultural, sport community trips
  • Individual help
  • Purchase of uniforms, except for official EVERTEC employee teams
• In addition to the types of activities listed above, CAD will not approve proposals that do not provide sufficient time to prepare and/or maximize the benefits for EVERTEC.
• Depending on the nature of the sponsorship or donation, CAD will endeavor to complete its initial evaluation within 15 days from the date the proposal is discussed during a committee meeting.

Step 2 Negotiation:

• Once a proposal has been approved as a result of CAD’s initial evaluation, CAD and the assigned Business Unit will negotiate the terms and conditions of the sponsorship or donation. Although the need to negotiate primarily applies to sponsorships, there may be times when a donation involves additional benefits for EVERTEC which must be considered.
• For reference purposes only, the following factors should be considered when negotiating:
  • All pricing and costs.
  • If the event will be exclusive for EVERTEC as a company or in its industry.
  • Identity of other co-sponsors.
  • The level of sponsorship if applicable, such as platinum, gold, etc.
  • Estimated number of participants.
  • The duration, timing and location of the event.
  • Types of marketing benefits, such as banners, flyers, signage, exhibits, booths, radio/television announcements.
  • Additional benefits, such as complimentary items, including tickets, meals, beverages, materials.
  • Any right of first refusal for future events.
  • Insurance for the event.
  • Monetary donations vs. donations of products and services.

Step 3 Final Decision:

• Approval or denial of a proposal can occur at any moment during the first 4 Steps of these Procedures.
  CAD will give written notification to the person who submitted the proposal of its final decision to approve or deny the proposal. If the proposal was not approved the written notification will include a brief explanation as to why this was CAD’s final decision.
• Depending on the nature of the sponsorship or donation, including the ease of negotiating the terms and conditions applicable thereto, CAD will endeavor to make a final decision on the proposal within 15 days from the date of completing its initial evaluation.
• The terms and conditions that are finally negotiated for any sponsorship or donation must be reviewed and approved by EVERTEC’s Legal Division to ensure that the rights and benefits of the sponsorship or donation are clearly outlined and that EVERTEC is adequately safeguarded against any risk.

Step 4 Implementation:

• EVERTEC’s Communication and Marketing Department will be responsible for coordinating the implementation of all approved proposals, including allocating necessary resources and involving the appropriate Business Unit(s).
• All payments whether in the form of cash or “in kind” will require a vendor request and an invoice prior to any disbursement.

Step 5 Post Evaluation:

• The results of EVERTEC’s participation in a sponsorship and the impact of any donation made by EVERTEC will be evaluated by CAD.
• To assist CAD with its post evaluation, the Business Unit responsible for the sponsorship or donation should send all pertinent supporting documentation, such as leads, surveys, and sales reports, to the Communication and Marketing Department.

Conclusion

These Procedures are designed to convey general rules and guidelines and are therefore subject to exceptions depending on the nature of the circumstances surrounding a particular sponsorship or donation proposal. If you have any questions regarding these Procedures, please contact EVERTEC’s Communication and Marketing Department at 787-759-9999, Ext. 2556.