AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENTEmployment Agreement • May 11th, 2009 • First Bancorp /Pr/ • State commercial banks
This AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (this “Amendment”), is entered into and is effective as of January 15, 2009, by and between, on the one hand, FIRST BANCORP (the “Corporation”), a corporation organized under the laws of the Commonwealth of Puerto Rico (the “Commonwealth”), and FIRSTBANK PUERTO RICO (the “Bank”), a banking institution organized under the laws of the Commonwealth that is a wholly-owned subsidiary of the Corporation, and, on the other hand, Fernando Scherrer (the “Executive”), Chief Financial Officer and Executive Vice President of the Corporation.
