Document:

EX-10.1 CHANGE IN CONTROL COMPENSATION AGREEMENT

 

Exhibit 10.1

CHANGE IN CONTROL COMPENSATION AGREEMENT

BETWEEN

ORIENTAL FINANCIAL GROUP INC.

AND

MARI EVELYN RODRIGUEZ

Agreement made as of the 11th day of July, 2006, by and between Oriental Financial Group Inc., a
Puerto Rico corporation and a financial holding company with principal offices in San Juan, Puerto
Rico (hereinafter referred to as “OFG”) and Man Evelyn Rodriguez, of legal age, married, business
executive and resident of Guaynabo, Puerto Rico (hereinafter referred to as the “Executive
Officer”).

WITNESSETH:

WHEREAS, the Executive Officer is presently an Strategic Planning and Marketing Head of OFG;

WHEREAS, it is in the best interest of OFG to promote the retention of the Executive Officer’s
services on behalf of OFG by reducing concerns that the Executive Officer may be adversely affected
in the event of change in control of OFG as defined herein below;

WHEREAS, OFG and the Executive Officer wish to enter into this Agreement to set forth the terms and
conditions for the payment by OFG of certain compensation to the Executive Officer in the event of
a termination of Executive Officer’s employment as a result of a change in control of OFG;

NOW, THEREFORE, in consideration of the mutual covenants set forth herein, OFG and the Executive
Officer do hereby agree as follows:

1. TERM.

This Agreement shall be in full force and effect so long as the Executive Officer is employed
by the Company.

2. TERMINATION OF EMPLOYMENT DUE TO A CHANGE IN CONTROL

A. In the event there is a Change in Control of OFG (as defined herein below) while this Agreement
is in effect and as a result thereof or within one (1) year after the Change in Control, the
Executive Officer’s employment with OFG is terminated by OFG or its successor in interest, the
Executive Officer shall be entitled to the cash payment compensation determined as provided in
subparagraph B below.

B. The cash payment compensation shall be in an amount equal to two (2) times the sum of the
Executive Officer’s annual base salary at the time the termination of his employment occurs and the
last cash bonus paid to the Executive Officer prior to the termination of his employment.

C. The cash payment compensation shall be in lieu of any other payments which the Executive Officer
may be entitled to receive by law, contract or otherwise. The cash payment compensation shall be
due and payable in a lump sum to the Executive Officer on or before the thirtieth (3Q”) day
following the termination of the Executive Officer employment. The receipt of the cash payment
compensation shall not affect the rights of Executive Officer to any vested benefits or accrued
compensation, including bonuses.

D. For purposes of this Agreement, a “Change in Control of OFG” shall be deemed to have occurred if
any Person or persons acting as a group within the meaning of Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), is or becomes the Beneficial
Owner (as defined in Rule 13d—3 under the Exchange Act), directly or indirectly, of securities of
OFG representing 25% or more of either the then outstanding shares of common stocks of OFG or the combined voting power of
OFG’s then outstanding securities and if individuals who on the date hereof are members of OFG’s
Board of Directors cease for any reason to constitute at least a majority thereof, unless the
appointment election or nomination of each new director who was not a director on the date hereof
has been approved by at least two—thirds of the directors in office on the date hereof.

E. For purposes of this Agreement, “Person” shall have the meaning given in Section 3(a) (9) of the
Exchange Act, except that such term shall not include (i) OFG or any of its subsidiaries; (ii) an
individual who on the date of this Agreement is a director or officer of OFG or any of its
subsidiaries, or a beneficial owner of more than ten percent (10%) of OFG’s outstanding securities;
(iii) a trustee or other fiduciary holding securities under an employee benefit plan of OFG or any
of its subsidiaries; (iv) an underwriter temporarily holding securities pursuant to an offering of
such securities; or (v) a corporation or entity owned, directly or indirectly, by the stockholders
of OFG in substantially the same proportion as their ownership of stock of OFG on the date of this
Agreement.

 

 

F. Notwithstanding anything to the contrary herein, any event or transaction which would otherwise
constitute a Change in Control of OFG (hereinafter referred to as a “Transaction”) shall not
constitute a Change in Control of OFG for purposes of this Agreement if the Executive Officer
participates as an acquirer in the Transaction or as an equity investor or stockholder of the
acquiring entity or any of its affiliates and thus, the Executive Officer shall not be entitled to
receive the benefits provided for in this Agreement.

3. ASSIGNMENT.

This Agreement is personal to each of the parties hereto and neither party may assign or delegate
any of his or its rights or obligations hereunder without first obtaining the written consent of
the other party.

4. AMENDMENTS OR ADDITIONS.

No amendments or additions to this Agreement shall be binding unless in writing and signed by both
parties. The prior approval by a two—thirds affirmative vote of the full Board of Directors of OFG
shall be required in order for OFG to authorize any amendments or additions to this Agreement, to
give any consent or waivers of provisions of this Agreement, or to take any other action under this
Agreement.

5. MISCELLANEOUS.

A. The provisions of this Agreement shall be deemed severable and the invalidity or
unenforceability of any provision shall not affect the validity or enforceability of the other
provisions hereof.

B. This Agreement shall be governed in all respects and be interpreted by and under the laws of the
Commonwealth of Puerto Rico, except to the extent that such law may be preempted by applicable
United States federal law, in which case this Agreement shall be governed and be interpreted by and
under United States federal law. Venue for the litigation of any and all maters arising under or in
connection with this Agreement shall be laid in the United States District Court for the District
of Puerto Rico, at San Juan, in the case of federal jurisdiction, and in the Court of First
Instance, Superior Part, the Commonwealth of Puerto Rico in San Juan, in the case of state court
jurisdiction.

	 	 	 
	EXECUTIVE OFFICER

	 	ORIENTAL FINANCIAL GROUP INC.
	 
	 	 
	/s/ Mari Evelyn Rodriguez

	 	/s/ José Rafael Fernández
	 

	 	 
	Mari Evelyn Rodriguez

	 	José Rafael Fernández
	 

	 	President and CEOEX-4.2

 

Exhibit 4.2

FIRST AMENDMENT TO RIGHTS AGREEMENT

	 	 	     FIRST AMENDMENT (this “Amendment”) dated as of October 16, 2006, to the
RIGHTS AGREEMENT, dated as of May 24, 2000 (the “Rights Agreement”), between JLG
INDUSTRIES, INC., a Pennsylvania corporation (the “Company”), and AMERICAN STOCK
TRANSFER AND TRUST COMPANY, a New York corporation (the “Rights Agent”).

RECITALS

     WHEREAS, the Company and the Rights Agent have heretofore executed and entered into the Rights
Agreement (capitalized terms used herein but not defined herein shall have the meanings given to
such terms in the Rights Agreement);

     WHEREAS, pursuant to Section 27 of the Rights Agreement, the Company may, and the Rights Agent
shall, if the Company so directs, from time to time supplement or amend the Rights Agreement in
accordance with the provisions thereof without approval of any holders of certificates representing
shares of Company Common Stock;

     WHEREAS, the Company desires to amend the Rights Agreement to render the Rights inapplicable
to the Merger (as defined in the Merger Agreement) and the other transactions contemplated by the
Merger Agreement (as defined below); and

     WHEREAS, the Board of Directors has determined that it is in the best interest of the Company
and its stockholders to amend the Rights Agreement as set forth below.

AGREEMENT

     NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and
other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, hereby amend the Rights Agreement
as follows:

     (a) Amendment to Section 1. The following text is added at the end of the definition
of “Acquiring Person” in Section 1 of the Rights Agreement:

	 	 	“Notwithstanding anything in this Agreement to the contrary, none of Parent
or Merger Sub or any of their Affiliates or Associates shall be deemed to be
an Acquiring Person, either individually or collectively, by virtue of (i)
the approval, execution or delivery of the Merger Agreement, (ii) the
announcement of the Merger, (iii) the consummation of the Merger or the
other transactions contemplated by the Merger Agreement or (iv) the
acquisition of Company Common Stock pursuant to the Merger or the Merger
Agreement.”

     (b) The following definitions are added to Section 1 of the Rights Agreement in the
appropriate alphabetical order:

 

	 	 	     “Effective Time” shall have the meaning assigned to such term in the
Merger Agreement.
	 
	 	 	     “Merger Agreement” shall mean the Agreement and Plan of Merger dated as
of October 15, 2006, among Parent, Merger Sub and the Company, as the same
may be amended from time to time.
	 
	 	 	     “Merger” shall have the meaning assigned to such term in the Merger
Agreement.
	 
	 	 	     “Merger Sub” shall mean Steel Acquisition Corp., a Pennsylvania
corporation, and a wholly owned subsidiary of Parent.
	 
	 	 	     “Parent” shall mean Oshkosh Truck Corporation, a Wisconsin corporation.

     (c) Amendment to Section 3(a). The following text is added at the end of Section 3(a)
of the Rights Agreement:

	 	 	“Notwithstanding anything in this Agreement to the contrary, no Shares
Acquisition Date nor Distribution Date shall occur by virtue of (i) the
approval, execution or delivery of the Merger Agreement, (ii) the
announcement of the Merger, (iii) the consummation of the Merger or the
other transactions contemplated by the Merger Agreement or (iv) the
acquisition of Company Common Stock pursuant to the Merger or the Merger
Agreement.”

     (d) Amendment to Section 7. Section 7(a) of the Rights Agreement is hereby amended
and restated in its entirety as follows:

	 	 	     “(a) Prior to the earliest of (i) the Close of Business on the tenth
anniversary hereof (the “FINAL EXPIRATION DATE”), (ii) the time at which the
Rights are redeemed as provided in Section 23 hereof and (iii) the date and
time immediately prior to the Effective Time of the Merger (the earliest of
(i), (ii) and (iii) being the “EXPIRATION DATE”), the registered holder of
any Rights Certificate may, subject to the provisions of Sections 7(e) and
9(c) hereof, exercise the Rights evidenced thereby in whole or in part at
any time after the Distribution Date upon surrender of the Rights
Certificate, with the form of election to exercise and the certificate on
the reverse side thereof duly executed, to the Rights Agent at the office of
the Rights Agent designated for such purpose, together (if applicable) with
payment of the aggregate Purchase Price (as hereinafter defined) for the
number of shares of Company Common Stock (or, following a Triggering Event,
Other Consideration, as the case may be) for which such surrendered Rights
are then exercisable.”

     (e) Section 11(a)(ii) of the Rights Agreement is amended by adding the following sentence at
the end thereof:

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	 	 	“Notwithstanding the foregoing or anything in this Agreement to the
contrary, this Section 11(a)(ii) shall not apply to and a Section
11(a)(ii) Event shall not be deemed to have occurred by virtue of
(i) the approval, execution or delivery of the Merger Agreement,
(ii) the announcement of the Merger, (iii) the consummation of the
Merger or the other transactions contemplated by the Merger
Agreement or (iv) the acquisition of Company Common Stock pursuant
to the Merger or the Merger Agreement.”

     (f) Section 13 of the Rights Agreement is amended by adding the following provision at the end
thereof:

	 	 	"(g) Notwithstanding the foregoing or anything in this Agreement to
the contrary, this Section 13 shall not apply to, and a Section 13
Event shall not be deemed to have occurred by virtue of (i) the
approval, execution or delivery of the Merger Agreement, (ii) the
announcement of the Merger, (iii) the consummation of the Merger or
the other transactions contemplated by the Merger Agreement or (iv)
the acquisition of Company Common Stock pursuant to the Merger or
the Merger Agreement.”

     Section 2. Full Force and Effect. This Amendment shall become, and be deemed to be,
effective immediately prior to the execution and delivery of the Merger Agreement. Except as
expressly amended hereby, the Rights Agreement shall continue in full force and effect in
accordance with the provisions thereof on the date hereof.

     Section 3. Governing Law. This Amendment for all purposes shall be governed by, and
construed in accordance with, the laws of the Commonwealth of Pennsylvania applicable to contracts
executed in and to be performed entirely in such Commonwealth.

     Section 4. Counterparts. This Amendment may be executed in any number of
counterparts and each of such counterparts shall for all purposes be deemed to be an original, and
all such counterparts shall together constitute but one and the same instrument.

     Section 5. Authority. Each party represents that such party has full power and
authority to enter into this Amendment and that this Amendment constitutes a legal, valid and
binding obligation of such party, enforceable against such party in accordance with its terms.

     Section 6. Severability. If any term, provision, covenant or restriction of this
Amendment or applicable to this Amendment is held by a court of competent jurisdiction or other
authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants
and restrictions of this Amendment shall remain in full force and effect and shall in no way be
affected, impaired or invalidated.

[SIGNATURE PAGE FOLLOWS]

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     IN WITNESS,WHEREOF, the Company has caused this Amendment be duly executed as of the day and
year first above written.

	 	 	 	 	 
	JLG INDUSTRIES, INC.	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	By:
	 	/s/ William M. Lasky 	 	 
	 

	 	 	 	 
	 

	 	Name: William M. Lasky	 	 
	 

	 	Title: Chairman and Chief Executive Officer	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	By:
	 	/s/ Thomas D. Singer 	 	 
	 

	 	 	 	 
	 

	 	Name: Thomas D. Singer	 	 
	 

	 	Title: Senior Vice President and General Counsel	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	Acknowledged and Approved by:	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	AMERICAN STOCK TRANSFER AND TRUST COMPANY,

as Rights Agent

	 
	 	 	 	 
	 
	 	 	 	 
	By:
	 	/s/ Herbert J. Lemmer 	 	 
	 

	 	 	 	 
	 

	 	Name: Herbert J. Lemmer	 	 
	 

	 	Title: Vice President	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	By:
	 	/s/ Susan Silber 	 	 
	 

	 	 	 	 
	 

	 	Name: Susan Silber	 	 
	 

	 	Title: Assistant Secretary	 	 

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