Document:

Exhibit 4.13.1

 

FIRST AMENDMENT TO
CREDIT AGREEMENT

 

This First
Amendment to the Credit Agreement, dated as of October 6, 2006 (this “Amendment”),
is entered into by and among THE HERTZ CORPORATION, a Delaware corporation
(together with its successors and assigns the “Parent Borrower”), PUERTO
RICANCARS, INC., a Puerto Rico corporation (“Puerto Ricancars”) (Puerto
Ricancars together with the Parent Borrower, being collectively referred to
herein as the “Borrowers” and each being individually referred to as a “Borrower”);
GELCO CORPORATION d.b.a. GE Fleet Services (“GE Fleet Services”), as
administrative agent, collateral agent for Collateral owned by the Parent
Borrower for the Lenders and collateral agent for Collateral owned by Puerto
Ricancars for the Lenders (in such capacities, respectively, the “Administrative
Agent”, the “Domestic Collateral Agent” and the “PRUSVI
Collateral Agent”); and the Lenders (the “Lenders”) party to the
Credit Agreement (as defined below).

RECITALS

                A.            The Borrowers, the Administrative
Agent, the Domestic Collateral Agent, the PRUSVI Collateral Agent and the
Lenders are parties to that certain Credit Agreement, dated as of September 29,
2006, (as it may hereafter be further amended, restated or otherwise modified,
the “Credit Agreement”).

 

                B.            The Borrowers, the Administrative Agent, the Domestic
Collateral Agent, the PRUSVI Collateral Agent and the Lenders are desirous of
amending the Credit Agreement as and to the extent set forth herein and
pursuant to, and subject to, the terms and conditions set forth herein.

 

C.            This Amendment shall
constitute a Loan Document and these Recitals shall be construed as part of
this Amendment.  Capitalized terms used
herein without definition are so used as defined in the Credit Agreement.

NOW, THEREFORE, in consideration of the premises and the mutual
covenants hereinafter contained and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

1.             Amendments.

1.1.          Section 7.13 of the Credit
Agreement is amended by deleting from clause (iii) thereof, the number “seven
(7)” and replacing it with the number “seventeen (17)”

2.             Conditions to Effectiveness.  The effectiveness of this Amendment is
expressly conditioned upon the satisfaction of each of the following conditions
precedent in a manner acceptable to Agent:

2.1.          The Administrative Agent's receipt of
counterparts of this Amendment, duly executed by each Borrower, the
Administrative Agent, the Domestic Collateral Agent, the PRUSVI Collateral
Agent and the Required Lenders, and duly acknowledged by each of the
Guarantors.

 

 

3.             Reference to and Effect Upon the
Credit Agreement and other Loan Documents.

3.1.          The Credit Agreement and each other
Loan Document shall remain in full force and effect and each is hereby ratified
and confirmed by the Borrowers and each of the Guarantors.

3.2.          The execution, delivery and effect of
this Amendment shall be limited precisely as written and shall not be deemed to
(a) be a consent to any waiver of any term or condition or to any amendment or
modification of any term or condition of the Credit Agreement or any other Loan
Document, except as set forth herein, or (b) prejudice any right, power or
remedy which the Administrative Agent, the Domestic Collateral Agent, the
PRUSVI Collateral Agent or any Lender now has or may have in the future under
or in connection with the Credit Agreement or any other Loan Document.

3.3.          Each reference in the Credit Agreement
to “this Agreement”, “hereunder”, “hereof”, “herein” or any other word or words
of similar import shall mean and be a reference to the Credit Agreement as
amended hereby, and each reference in any other Loan Document to the Credit
Agreement or any word or words of similar import shall be and mean a reference
to the Credit Agreement as amended hereby.

4.             Counterparts. 
This Amendment may be executed in any number of counterparts, each of
which when so executed shall be deemed an original but all such counterparts
shall constitute one and the same instrument. 
A counterpart signature page delivered by fax or electronic transmission
shall be as effective as delivery of an originally executed counterpart.

5.             Costs and Expenses.  As provided in Section 11.5 of the Credit
Agreement, Borrowers shall pay the fees, costs and expenses incurred by the
Administrative Agent in connection with the preparation, execution and delivery
of this Amendment (including, without limitation, reasonable attorneys’ fees).

6.             GOVERNING LAW. 
THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN
ACCORDANCE WITH THE INTERNAL LAWS (AS OPPOSED TO CONFLICTS OF LAW PROVISIONS)
OF THE STATE OF NEW YORK.

7.             Headings. 
Section headings in this Amendment are included herein for convenience
of reference only and shall not constitute a part of this Amendment for any
other purpose.

[SIGNATURE PAGES FOLLOW]

 

2

 

 

IN
WITNESS WHEREOF, this Amendment has been duly executed as of the date first
written above.

	
   

  	
  BORROWERS:

  
	
   

  	
   

  	
   

  
	
   

  	
  PUERTO
  RICANCARS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Elyse Douglas

  
	
   

  	
  Name:
  

  	
  Elyse
  Douglas

  
	
   

  	
  Title:

  	
  Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  THE
  HERTZ CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:
  

  	
  /s/
  Elyse Douglas

  
	
   

  	
  Name:
  

  	
  Elyse
  Douglas

  
	
   

  	
  Title:

  	
  Treasurer

  
				

 

 

 

ACKNOWLEDGED AND AGREED

BY EACH OF THE GUARANTORS:

 

HERTZ EQUIPMENT RENTAL
CORPORATION

BRAE HOLDING CORP.

HERTZ CLAIM MANAGEMENT
CORPORATION

HCM MARKETING
CORPORATION

HERTZ LOCAL EDITION
CORP.

HERTZ LOCAL EDITION
TRANSPORTING, INC.

HERTZ GLOBAL SERVICES
CORPORATION

HERTZ SYSTEM, INC.

HERTZ TECHNOLOGIES, INC.

HERTZ
TRANSPORTING, INC.

SMARTZ VEHICLE RENTAL
CORPORATION

 

 

	
  By:
  

  	
  /s/
  Elyse Douglas

  	
   

  
	
  Name:
  

  	
  Elyse
  Douglas

  
	
  Title:

  	
  Treasurer

  

 

 

	
   

  	
  GELCO
  CORPORATION DBA GE FLEET SERVICES, as Administrative Agent, Domestic
  Collateral Agent, PRUSVI Collateral Agent and Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:
  

  	
  /s/
  Brock J. Austin

  
	
   

  	
  Name:
  

  	
  Brock
  J. Austin

  
	
   

  	
  Title:

  	
  Senior
  Vice President

  

 

 

 

	
   

  	
  MERRILL
  LYNCH MORTGAGE CAPITAL, INC., as Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:
  

  	
  /s/
  Joseph Magnus

  
	
   

  	
  Name:
  

  	
  Joseph
  Magnus

  
	
   

  	
  Title:

  	
  Vice
  PresidentExhibit 10.1.1

 

FIRST AMENDMENT TO THE
HERTZ GLOBAL HOLDINGS, INC.

STOCK INCENTIVE PLAN

Section 3.3 of Article III of the Hertz Global
Holdings, Inc. Stock Incentive Plan is amended in its entirety and shall read
as follows:

“Section 3.3  Adjustment
in Capitalization.  The number of
Common Shares available for issuance under the Plan and the number, class,
exercise price or other terms of any outstanding Award shall be adjusted by the
Board to reflect any extraordinary dividend, stock dividend, stock split or
share combination or any recapitalization, merger, consolidation, spin-off,
exchange of shares, liquidation or dissolution of the Company or other similar
transaction affecting the Common Shares.”QuickLinks
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Exhibit 10.18    
    

 
 

NON-QUALIFIED STOCK OPTION AWARD AGREEMENT    
    

GRANT:  Globalstar, Inc.,
a Delaware corporation ("Company"), hereby awards you (the "Optionee" named below) a Non-Qualified Stock Option
("Option") to purchase the number of shares ("Shares") of the Company's Series A Common Stock, par value $0.0001 per share, or of any successor class or series of Company common stock into
which the Series A common stock is converted (together, the "Common Stock"), at the Option Price, set forth below, subject to the following terms and conditions: 

	Optionee
 
	 	No. of Shares
	 	Option Price
	 	Grant Date

	Peter J. Dalton	 	20,000	 	$16.00 per share	 	January 1, 2005

VESTING:  The
Company converted to a corporation on March 17, 2006, and this Option became fully vested at that time. 

TERM:  This
Option expires on March 16, 2011 (the "Expiration Date"). If your service as a director terminates prior to the Expiration Date for any
reason other than (1) your death or Disability (meaning your permanent and total disability as defined in Section 22(e)(3) of the Internal Revenue Code), or (2) your not being
retained as a director of the Company notwithstanding your willingness to continue to serve in that capacity, this Option will expire, to the extent it has not been previously exercised, on the date
of such termination. In the event your service as a director terminates because of (1) or (2) described in this paragraph, you or your guardian, legal representative or other person who
acquires the right to exercise the Option by reason thereof may exercise this Option at any time prior to the expiration of twelve (12) months after the date on which your service terminates,
but in no event later than the Expiration Date. 

EXERCISE:  In
order to exercise this Option, you must deliver to the Company a written notice indicating the number of Shares being purchased, accompanied by
full payment of the Option Price for those Shares. You may exercise this Option in whole or in part from time to time, but must do so for at least 100 Shares (or such lesser number as then remain
unexercised) at any time. You may pay the Option Price in cash or in shares of Common Stock owned by you for at least six months prior to the exercise. You will have no rights as a stockholder with
respect to any Shares before the exercise of this Option and the delivery to you of a certificate evidencing those Shares, or other evidence of ownership if the Shares are uncertificated. 

ADJUSTMENT
TO OPTION:  If the Company effects one or more stock splits, stock dividends, combinations or exchanges of shares or other capital adjustments
affecting the Common Stock, the class of stock purchasable, the number of Shares covered by this Option and the Option Price will be equitably and, if applicable, proportionately adjusted. 

TRANSFER
RESTRICTIONS:  During your lifetime, this Option is non-transferable and is exercisable only by you or your guardian or legal
representative. The Option may not be assigned, exchanged, pledged, transferred or otherwise encumbered or disposed of except by will or by the laws of descent and distribution. 

TAXES:  You
must pay all applicable U.S. federal, state and local taxes resulting from the issuance of Shares upon exercise of this Option. The Company has the
right to withhold all withholding taxes due upon the exercise of this Option (by deduction from director's fees or otherwise) from the proceeds of such exercise or from future director's fees or any
other payments. 

 

REPRESENTATIONS
AS TO PURCHASE OF SHARES:  If requested by the Company, you shall, concurrently with the delivery of a certificate for or other evidence of
ownership of the Shares, give such written assurances to the Company, in the form and substance that its counsel reasonably requests, to the effect that you are acquiring the Shares for investment and
without any present intention of selling or distributing them in violation of any applicable law. In the event that the Company elects to register the Shares under the Securities Act of 1933 and any
applicable state laws, the issuance of such Shares shall not be subject to the restrictions contained in this paragraph. 

NO
RIGHT TO SERVE AS DIRECTOR:  Neither the issuance of this Option or of any Shares pursuant to this Award Agreement gives you any right to serve as a
director of the Company, nor it does not affect the right of the Board of Directors or stockholders of the Company to remove you as a director or your right to resign from the Board of Directors. 

COMPLIANCE
WITH SECTION 409A:  It is the intent of the parties that this Award Agreement and all Shares issued under it shall be in compliance with the
requirements of Section 409A of the Internal Revenue Code of 1986 ("Section 409A") and the regulations promulgated thereunder. If any provision of this Award Agreement is not in
compliance with Section 409A, then that provision shall be deemed automatically amended without further action on the part of the Company or you to the minimum extent necessary to cause the
provision to be in compliance and the provision will thereafter be given effect as so amended. 

MODIFICATIONS:  Notwithstanding
any other provision of this Award Agreement, the Company reserves the right to modify the provisions of this Award Agreement,
including without limitation the timing or circumstances of the issuance of Shares, to the extent that modification is determined by the Company to be necessary to comply with applicable law or to
preserve the intended deferral of income recognition with respect to the Shares until the Shares are issued. 

ACKNOWLEDGEMENT:  To
acknowledge receipt of this award, please sign and return one copy of this Agreement to Richard S. Roberts. 

	 	 	GLOBALSTAR, INC.
	

 	
 	

By:	

/s/  RICHARD S. ROBERTS      

	 	 	Printed Name: Richard S. Roberts
	 	 	Title: Secretary
	

 	
 	
OPTIONEE:
	

 	
 	

/s/  PETER J. DALTON      
 Peter J. Dalton

2

QuickLinks

Exhibit 10.18

NON-QUALIFIED STOCK OPTION AWARD AGREEMENT

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