Document:

Exhibit 4.8

Exhibit 4.8

SIXTH AMENDMENT TO RIGHTS AGREEMENT

	1.	 	GENERAL BACKGROUND. In accordance with Section 27 of the Rights Agreement between American
Stock Transfer & Trust Company, LLC (the “Rights Agent”) and Pennichuck Corporation
(“Pennichuck” or the “Company”), as amended from time to time (the “Agreement”), which
Agreement was originally adopted on April 20, 2000, Pennichuck desires to amend the Agreement
to give the Board of Directors of Pennichuck the right to grant a shareholder an exemption to
the definition of “Acquiring Person” under the Agreement, subject to certain terms and
conditions (if any), at the sole discretion of the Board of Directors of Pennichuck.

	2.	 	EFFECTIVENESS. This Amendment shall be effective as of March 2, 2009 (the “Amendment”) and
all defined terms and definitions in the Agreement shall be the same, and have the same full
force and effect, in the Amendment except as specifically revised by this Amendment.

	3.	 	REVISION. The paragraph in Section 1 of the Agreement, “Certain Definitions,” that defines
“Acquiring Person” is hereby deleted in its entirety and replaced with the following:

“Acquiring Person” shall mean any Person who or which, together with all Affiliates
and Associates of such Person, shall be the Beneficial Owner of more than 15% of the Common
Shares of the Company then outstanding but shall not include (i) the Company, (ii) any
Subsidiary of the Company, (iii) any employee benefit plan of the Company or any Subsidiary
of the Company, or (iv) any entity holding Common Shares for or pursuant to the terms of
any such employee benefit plan. Notwithstanding the foregoing, (1) no Person shall become
an “Acquiring Person” as the result of an acquisition of Common Shares by the Company
which, by reducing the number of shares outstanding, increases the proportionate number of
 shares beneficially owned by such Person to more than 15% of the Common Shares of the
Company then outstanding; provided, however, that if a Person shall so become the
Beneficial Owner of more than 15% of the Common Shares of the Company then outstanding by
reason of an acquisition of Common Shares by the Company and shall, after such share
purchases by the Company, become the Beneficial Owner of an additional 1% of the
outstanding Common Shares of the Company, then such Person shall be deemed to be an
“Acquiring Person”; (2) if the Board of Directors of the Company determines in good faith
that a Person who would otherwise be an “Acquiring Person,” as defined pursuant to the
forgoing provisions of this paragraph has become such inadvertently, and such Person
divests as promptly as practicable a sufficient number of Common Shares so that such Person
would no longer be an “Acquiring Person,” as defined pursuant to the foregoing provisions
of this paragraph, then such Person shall not be deemed to have become an “Acquiring
Person” for any purposes of this Agreement; and (3) “Acquiring Person” shall not mean for
any purposes under this Agreement any Person who or which the Board of Directors of the
Company in its sole discretion determines should be exempted from the definition of
“Acquiring Person” as defined pursuant to the foregoing provisions of this paragraph;
provided, however, that the Board of Directors may make such exemption subject to such
terms and conditions, if any, which the Board of Directors may establish.

	4.	 	This Amendment may be executed in one or more counterparts via facsimile, each of which will
be deemed an original copy of this Agreement, and all of which, when taken together, shall be
deemed to constitute one and the same agreement.

	5.	 	Except as otherwise amended hereby, the Agreement and all schedules, exhibits and amendments
thereto shall remain in full force and effect.

 

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed in their names and
on their behalf by and through their duly authorized officers as of this 27th day of
February, 2009.

	 	 	 
	PENNICHUCK CORPORATION

	 	AMERICAN STOCK TRANSFER & TRUST
	 

	 	COMPANY, LLC, as Rights Agent
	 
	 	 
	/s/ Duane C. Montopoli

	 	/s/ Herbert Lemmer
	By: Duane C. Montopoli

	 	By: Herbert Lemmer
	Title: President & CEO

	 	Title: Corporation CounselExhibit 10.14

EXHIBIT 10.14

DESCRIPTION OF ARRANGEMENT FOR DIRECTORS FEES

The following sets forth the amount of fees payable to outside directors of S1 Corporation as of
December 31, 2008 for their services as Directors:

	 	 	 	 	 
	EVENT	 	FEE	 
	 
	 	 	 	 
	Annual Retainer (Board Chairman)
	 	$	150,000	 
	Annual Retainer (excluding Board Chairman)
	 	$	20,000	 
	Board Meeting Attended (In Person)
	 	$	2,000	 
	Board Meeting Attended (By Phone)
	 	$	1,000	 
	Annual Committee Chair Retainer
	 	$	20,000	 
	Committee Meeting Attended (In Person)
	 	$	1,500	 
	Committee Meeting Attended (By Phone)
	 	$	1,000	 
	Annual Yodlee Board Representation Retainer
	 	$	20,000	 

	 	 	 	 	 
	 	 	# of Shares	 
	Annual Stock Option Grant (quarterly vesting)
	 	 	16,000	 
	Annual Restricted Stock Grant (quarterly vesting)
	 	 	3,000Exhibit 10.1

Exhibit 10.1

FIRST AMENDMENT TO THE AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AND NONCOMPETITION AGREEMENT

THIS FIRST AMENDMENT TO THE AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AND NONCOMPETITION AGREEMENT (“First
Amendment”), between RSC Equipment Rental, Inc., f/k/a Rental Service Corporation (the “Company”) and Erik Olsson
(“Executive”), is entered into on February      , 2009.

RECITALS:

WHEREAS, the parties entered into an Amended and Restated Executive Employment and Noncompetition Agreement on
November 28, 2006 (the “Employment Agreement”);

WHEREAS, Executive and the Company have agreed to a temporary reduction of Executive’s Base Salary (as defined in
the Employment Agreement, and which shall be referred to as the Pre-Reduction Rate set forth below) through December
31, 2009, with the understanding that all other provisions of the Employment Agreement shall remain unchanged.

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, the adequacy and
sufficiency of which is hereby acknowledged, the Company and Executive agree as follows:

1. Executive’s Base Salary shall be reduced by twenty percent (20%), or $150,000 (the “Reduction”) for calendar
year 2009, from an annual rate of $750,000 (the “Pre-Reduction Rate”) to an annual rate of $600,000 (the
“Post-Reduction Rate”). The Reduction will be applied retroactively to January 1, 2009, and commencing on March 2,
2009, the Reduction will be made in equal installments from Executive’s compensation paid bi-weekly for the remainder
of 2009. Commencing on January 1, 2010, Executive’s Base Salary shall revert to the Pre-Reduction Rate. Any merit
increases in 2010 shall be based upon the Pre-Reduction Rate.

2. Executive agrees that the Reduction shall not constitute Good Reason to resign, as defined under Section 2.5(a)
of the Employment Agreement.

3. For all purposes under the Employment Agreement other than payment of monthly Base Salary under Section 2.1 of
the Employment Agreement and the calculation of eligible earnings for Variable Compensation, Base Salary shall be the
Pre-Reduction Rate. For example, for the avoidance of doubt, Severance Benefits (under Section 2.5), if any, shall be
calculated based on the Pre-Reduction Rate.

Except as modified herein, the terms and conditions of the Employment Agreement shall remain unchanged and in full
force and effect.

IN WITNESS WHEREOF, the parties hereto have duly executed this First Amendment, or caused this First Amendment to
be duly executed on their respective behalf by their respective duly authorized officers, all effective as of the date
and year first written above.

	 	 	 	 	 	 	 
	RSC EQUIPMENT RENTAL, INC.	 	EXECUTIVE
	 

	 	 	 	 
	 	
	By:

	 	 
	 	By:
	 	 
	
 
	 	 
	 	 	 	 
	
 
	 	Kevin J. Groman
	 	 	 	Erik Olsson
	
 
	 	SVP, General Counsel & Corporate SecretaryExhibit 10.2

Exhibit 10.2

FIRST AMENDMENT TO THE EXECUTIVE EMPLOYMENT AND NONCOMPETITION AGREEMENT

THIS FIRST AMENDMENT TO THE EXECUTIVE EMPLOYMENT AND NONCOMPETITION AGREEMENT (“First Amendment”), between RSC
Equipment Rental, Inc., f/k/a Rental Service Corporation (the “Company”) and      (“Executive”), is entered
into on February      , 2009.

RECITALS:

WHEREAS, the parties entered into an Executive Employment and Noncompetition Agreement on      , 200     (the
“Employment Agreement”);

WHEREAS, Executive and the Company have agreed to a temporary reduction of Executive’s Base Salary (as defined in
the Employment Agreement, and which shall be referred to as the Pre-Reduction Rate set forth below) through December
31, 2009, with the understanding that all other provisions, other than that provided herein, of the Employment
Agreement shall remain unchanged.

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, the adequacy and
sufficiency of which is hereby acknowledged, the Company and Executive agree as follows:

1. Commencing on March 2, 2009, Executive’s Base Salary shall be reduced by ten percent (10%) (the “Reduction”)
for the remainder of calendar year 2009. The amount paid from January 1, 2009 through March 1, 2009 was based on an
annual rate of $     (the “Pre-Reduction Rate”). Commencing on January 1, 2010, Executive’s Base Salary shall revert
to the Pre-Reduction Rate. Any merit increases in 2010 shall be based upon the Pre-Reduction Rate.

2. Executive agrees that the Reduction shall not constitute Good Reason to resign, as defined under Section 2.5(a)
of the Employment Agreement.

3. For all purposes under the Employment Agreement other than payment of monthly Base Salary under Section 2.1 of
the Employment Agreement and the calculation of eligible earnings for Variable Compensation, Base Salary shall be the
Pre-Reduction Rate. For example, for the avoidance of doubt, Severance Benefits (under Section 2.5), if any, shall be
calculated based on the Pre-Reduction Rate.

Except as modified herein, the terms and conditions of the Employment Agreement shall remain unchanged and in full
force and effect.

IN WITNESS WHEREOF, the parties hereto have duly executed this First Amendment, or caused this First Amendment to
be duly executed on their respective behalf by their respective duly authorized officers, all effective as of the date
and year first written above.

	 	 	 	 	 	 	 
	RSC EQUIPMENT RENTAL, INC.	 	EXECUTIVE
	 

	 	 	 	 
	 	
	By:

	 	 
	 	By:

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