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Jeffrey Himmel  |

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  1. Both organizations have a shared vision to transform the lives of Latinos living in the United States, and to do so in a socially and ethically responsible way.

  2. El Portal will enter into a Social Support Agreement with El Portal Foundation, under which El Portal will donate one-half of its profits for the social benefit of Latinos in the United States (herein “the Social Support”). Such Social Support shall be contributed to El Portal Foundation. The El Portal Foundation in effect is the social expression of El Portal.

  3. El Portal, the for-profit arm, will offer U.S. Hispanics a robust ecosystem of culturally-senstive programs, products and services in the areas of health, education and employment, specifically designed to address their unmet needs, to provide a safety net for Latinos and their families in the United States.

  4. EL PORTAL and El Portal Foundation will be financial independent of one another and, other than during the start-up phase, each organization will not share the same management and/or be under the common control of the other. Each organization will be economically sustainable on its own sources of operating revenue.

  5. By virtue of the Social Support Agreement, the Parties will collaborate together, share information, program support, know-how and other intellectual property, all for the mutual benefit of their stakeholders. There will be no charges from or fees earned for services or product offerings between the Parties.

  6. El Portal is in the process of a raising five million dollars ($5,000,000.00) of first round equity capital for El Portal in support of the achievement of its Year 1 goal of building a membership base of ten million U.S. Hispanics. A Strategic Business Plan and Strategic Financial Plan are incorporated in the Confidential Information Memorandum (CIM) to be presented to potential investors.

  7. The EL PORTAL Board of Directors, through its Investment Committee (EPIC), a member of which will be designated by Fundación Carlos Slim will determine how best to allocate the Social Profits to be contributed to El Portal Foundation.

  8. There will be a working relationship between the El Portal Investment Committee (EPIC) and the Board of Trustees of the El Portal Foundation and its Social Support Oversight Committee (SSOC) (one of whom will be designated by FCS), tasked with the responsibility to administer, monitor and audit the deployment of funds to ensure that they are carried out as required by the instructions and plan of the EPIC.

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