Following the application of lower hybrid current drive (LHCD) power, the core toroidal rotation in Alcator C-Mod L- and H-mode plasmas is found to increment in the counter-current direction, in conjunction with a decrease in the plasma internal inductance, l_i. Along with the drops in l_i and the core rotation velocity, there is peaking of the electron and impurity density profiles, as well as of the ion and electron temperature profiles. The mechanism generating the counter-current rotation is unknown, but it is consistent in sign with an inward shift of energetic electron orbits, giving rise to a negative core radial electric field. The peaking in the density, toroidal rotation (in the counter-current direction) and temperature profiles occurs over a time scale similar to the current relaxation time but slow compared with the energy and momentum confinement times. Most of these discharges exhibit sawtooth oscillations throughout, with the inversion radius shifting inward during the LHCD and profile evolution. The magnitudes of the changes in the internal inductance and the central rotation velocity are strongly correlated and found to increase with increasing LHCD power and decreasing electron density. The maximum effect is obtained with a waveguide phasing of 60° (a launched parallel index of refraction n_|| ~ 1.5), with a significantly smaller magnitude at 120° (n_|| ~ 3.1), and with no effect for negative or heating (180°) phasing. Regardless of the plasma parameters and launched n_|| of the waves, there is a strong correlation between the rotation velocity and l_i changes, possibly providing a clue for the underlying mechanism.