SEPARATION AND RELEASE AGREEMENTSeparation and Release Agreement • August 29th, 2006 • R&g Financial Corp • State commercial banks • Puerto Rico
This Separation and Release Agreement (“Agreement”) is entered into as of this 28th day of August 2006, between R&G Financial Corporation (the “Company”), R&G Portfolio Management Corporation, R&G Mortgage Corporation, R&G International Corporation, R&G Acquisition Holdings Corporation (collectively, the “Employers”), Vicente Gregorio (the “Employee”) and Carmen A. Martinez, his wife (hereinafter, “Employee and Spouse”), and the conjugal partnership they compose, both of whom are of legal age, married and residents of Puerto Rico.
R&G Financial Corporation Letterhead]R&g Financial Corp • August 29th, 2006 • State commercial banks
This Agreement (the “Agreement”) sets forth the terms and conditions pursuant to which R&G Financial Corporation (the “Company”) will pay you the amount (the “Change of Control Bonus”) of $500,000.00, in the event that a “Change of Control” (as defined below) should occur with respect to the Company between the date hereof and December 31, 2008. Such expiration date shall be extended consistent with the duration of your Employment Agreement with the Company dated as of August 28, 2006 (the “Employment Agreement”).
AGREEMENTAgreement • August 29th, 2006 • R&g Financial Corp • State commercial banks • Puerto Rico
AGREEMENT, dated this 28th day of August 2006 between R&G Financial Corporation, a Puerto Rico corporation (the “Company”), and Mr. Andrés Pérez (the “Executive”).
