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BRIEF-Santander's Botin says offer to Orcel was not a contract

May 19 (Reuters) - Santander Chairman Ana Botin Tells Court:

* LETTER OFFER TO ITALIAN BANKER ANDREA ORCEL WAS NOT A CONTRACT

* TOTAL COMPENSATION PACKAGE WAS NEVER AGREED, A MAXIMUM WAS HOWEVER SET TO LET BOARD PROCEED WITH ORCEL APPOINTMENT

* ANA BOTIN SAYS SANTANDER’S BOARD NEVER APPROVED FINAL COMPENSATION PACKAGE (Reporting by Emma Pinedo and Jesus Aguado)

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