On April 24, 2017, Mariana Goldvarg, President for Latin America
of EVERTEC, Inc., resigned for personal reasons effective April
28, 2017 (referred to as the Separation Date). In connection with
her departure, Ms. Goldvarg entered into a Separation Agreement
and General Release, dated as of April 24, 2017 (referred to as
the Separation Agreement), with EVERTEC Group, LLC and EVERTEC
USA, LLC (collectively referred to as the Company).

Provided that Ms. Goldvarg does not revoke the Settlement
Agreement, Ms. Goldvarg is entitled to receive a lump sum payment
under it consisting of the following benefits: (i) a lump sum
payment of $350,000 within 60 days after the separation date,
(ii) a onetime payment equivalent to the cost of fourteen months
of health plan coverage under COBRA to be paid directly to the
plan administrator and credited towards the number of months
eligible for COBRA, (iii) accrued but unused vacation as of the
Separation Date, and (iv) the amount of any unpaid expense
reimbursements. Ms. Goldvarg also received the following benefits
as consideration for her execution of the Settlement Agreement:
(a) waiver by the Company of the right to require reimbursement
of $60,000 for Ms. Goldvargs company vehicle, (b) accelerated
vesting of Ms. Goldvargs 22,866 restricted stock units (referred
to as RSUs) granted on February 19, 2016, and (c) contingent on
Ms. Goldvarg abiding by all of the terms and conditions of the
Settlement Agreement, including non-compete and non-solicitation
obligations, the following of Ms. Goldvargs RSUs remain
outstanding and vest in accordance with their terms: 44,984
time-based RSUs with a vesting date of June 1, 2018; 14,407
performance-based RSUs related to relative total shareholder
return granted on February 19, 2016, and 17,150 performance-based
RSUs related to diluted earnings per share granted on February
19, 2016. The Company agreed under the Settlement Agreement to
retain Ms. Goldvarg as a consultant for a period of six months at
a monthly rate of $5,000. The Settlement Agreement contains a
general release by Ms. Goldvarg of all claims against EVERTEC,
Inc. and its direct and indirect subsidiaries, subject to
specified exceptions under applicable law and to her rights under
the Settlement Agreement. The Settlement Agreement also contains
various other covenants and agreements of Ms. Goldvarg, including
a covenant not to sue and non-competition obligations.

The foregoing description is qualified in its entirety by the
terms and provisions of the Separation Agreement, a copy of which
is filed as Exhibit 10.1 hereto and incorporated herein by
reference.

Item 9.01 Financial Statements and Exhibits.