Annual Reports

 
Quarterly Reports

 
8-K

  • 8-K (Nov 7, 2017)
  • 8-K (Oct 25, 2017)
  • 8-K (Oct 18, 2017)
  • 8-K (Oct 2, 2017)
  • 8-K (Sep 29, 2017)
  • 8-K (Sep 25, 2017)

 
Other

United Rentals 8-K 2007

Documents found in this filing:

  1. 8-K
  2. Ex-10.1
  3. Ex-10.1

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  June 26, 2007

UNITED RENTALS, INC.

UNITED RENTALS (NORTH AMERICA), INC.

(Exact name of Registrants as Specified in their Charters)


Delaware

 

001-14387

 

06-1522496

Delaware

 

001-13663

 

06-1493538

(States or Other Jurisdiction
of Incorporation)

 

(Commission file Numbers)

 

(IRS Employer
Identification Nos.)

 

 

 

 

 

Five Greenwich Office Park, Greenwich, CT

 

06831

(Address of Principal Executive Offices)

 

(Zip Code)

Registrants’ telephone number, including area code (203) 622-3131


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

o

Soliciting material pursuant to Rule 14a-2 under the Exchange Act (17 CFR 240.14a-2)

 

 

o

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

o

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 


Item 1.01.

Entry into a Material Definitive Agreement.

On June 26, 2007, the compensation committee of the Board of Directors of United Rentals, Inc. (the “Company”) approved the terms of an amendment (the “Amendment”) to the Service Agreement, dated as of December 4, 2003, between the Company and its Chairman, Bradley S. Jacobs (the “Service Agreement”). The committee approved the Amendment in light of a recent decision by the Company’s management, as part of its review of the Company’s cost structure, to sell all of the Company’s aircraft fractional ownership interests. Prior to the committee’s action, the Service Agreement provided for, among other things:  (i) Mr. Jacobs’ right, during the term of the Service Agreement (the “Term”), to use Company aircraft in accordance with the policy for personal use approved by the Board, (ii) Mr. Jacobs’ right, following the end of the Term, to continue to use Company aircraft over a period of three or more years for up to a maximum of 300 hours, and (iii) Mr. Jacobs’ right, if the Company is unable or unwilling to provide him with the preceding aircraft benefits, to be compensated for the cost of purchasing such benefits in the market place, grossed up for any increased taxes otherwise payable by him.

The Amendment provides that:  (i) the Term will end on the earlier of December 15, 2007 or the occurrence of a change in control of the Company, (ii) Mr. Jacobs’ covenant not to compete with the Company’s equipment rental business for a period of 12 months following the end of the Term will be extended to 18 months, and (iii) Mr. Jacobs’ entitlement to personal use of Company aircraft, both during and following the end of the Term, will be eliminated. In consideration thereof, the Company will pay Mr. Jacobs a total of $6.1 million (inclusive of its tax gross-up obligation to him).

In connection with the foregoing, the Company expects to record a total 2007 charge of approximately three cents per diluted share.

The foregoing summary of the Amendment is qualified in its entirety by reference to the full text of the Amendment, which is attached hereto as Exhibit 10.1 and incorporated by reference herein.

Item  9.01.

Financial Statements and Exhibits.

 

 

Exhibit 10.1

Amendment, dated as of June 29, 2007, to Service Agreement, dated as of December 4, 2003, between United Rentals, Inc. and Bradley S. Jacobs

2


SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 29th day of June, 2007.

 

UNITED RENTALS, INC.

 

 

 

 

By:

/s/ Roger E. Schwed

 

 


 

Name:

Roger E. Schwed

 

Title:

General Counsel

 

 

 

 

UNITED RENTALS (NORTH AMERICA), INC.

 

 

 

 

By:

/s/ Roger E. Schwed

 

 


 

Name:

Roger E. Schwed

 

Title:

General Counsel

3


Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki