AGREEMENT REGARDING ADDITIONAL SHARES

Exhibit 10.25

AGREEMENT REGARDING ADDITIONAL SHARES

October 11, 2011

Xxxxxx X. Xxx (Alternative) Fund VI, L.P.
THL FBC Equity Investors, L.P.
Xxxxxx X. Xxx (Alternative) Parallel Fund VI, L.P.
Xxxxxx X. Xxx (Alternative) Parallel (DT) Fund VI, L.P.
c/o Xxxxxx X. Xxx Partners, L.P.
000 Xxxxxxx Xxxxxx, 00^xx Xxxxx
Xxxxxx, XX 00000

Ladies and Gentlemen:

First BanCorp (the “Company”) has been informed that you are in the process of purchasing from persons to whom shares of the Company’s Common Stock (“Common Stock”) were issued at the Closing held on October 7, 2011, a total of 937,493 shares of Common Stock (the “Additional Shares”) as follows:

Purchaser		Shares
Xxxxxx X. Xxx (Alternative) Fund VI, L.P.			510,308
THL FBC Equity Investors, L.P.			21,271
Xxxxxx X. Xxx (Alternative) Parallel Fund VI, L.P.			345,553
Xxxxxx X. Xxx (Alternative) Parallel (DT) Fund VI, L.P.			60,361

The Company agrees that it will for all purposes treat the Additional Shares that each of you is purchasing as though you had purchased those Additional Shares under the Amended and Restated Investment Agreement dated as of July 14, 2011 between the Company and Xxxxxx X. Xxx (Alternative Fund) VI, L.P. (the “Investment Agreement”), either as a party to the Investment Agreement or as an assignee of rights and obligations of Xxxxxx X. Xxx (Alternative Fund) VI, L.P. under the Investment Agreement. Without limiting what is said in the preceding sentence, the Company Agrees that all the representations, warranties and covenants in the Investment Agreement will apply to the Additional Shares to the same extent that they apply to the Acquired Common Stock that is described in the Investment Agreement.

Very truly yours,
FIRST BANCORP
By:		/s/ Xxxxxxxx Xxxxx Xxxxxxxx Xxxxx
		Executive Vice President