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| EXHIBIT      A 10.7.1                                                                                                                                                                                                                              |
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|  DEFERRED      COMPENSATION PLAN FOR OFFICERS AND DIRECTORS OF      CENTRAL VERMONT PUBLIC SERVICE CORPORATION      Amended      And Restated August 4, 2008 With      An Effective Date of January 1,2005 |

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| TABLE OF      CONTENTS  |
|------------------------------|
| ARTICLE      I               | NAME,      HISTORY AND PURPOSE OF PLAN  | 1 |
| 1.1                          | Name      and History  | 1 |
| 1.2                          | Purpose  | 1 |
| 1.3                          | Trust  | 1 |
| ARTICLE      II              | DEFINITIONS  | 2 |
| 2.1                          | Definitions  | 2 |
| ARTICLE      III             | ELIGIBILITY      AND PARTICIPATION  | 6 |
| 3.1                          | Eligibility  | 6 |
| 3.2                          | Commencement      of Participation  | 6 |
| 3.3                          | Duration  | 6 |
| ARTICLE      IV              | DEFERRAL      ELECTION AGREEMENTS, INVESTMENT EARNINGS, ACCOUNTING  | 6 |
| 4.1                          | Deferral      Election Agreement  | 6 |
| 4.2                          | Timing      Requirements for Deferral Elections  | 7 |
| 4.3                          | Amount      of Deferrals  | 7 |
| 4.4                          | Period      for Which Deferral Election Agreement Applies  | 8 |
| 4.5                          | Changes      in Deferral Election Agreement  | 8 |
| 4.6                          | Investment      Credits  | 9 |
| 4.7                          | Payment      Elections and Accounting  | 10 |
| ARTICLE      V               | VESTING  | 11 |
| 5.1                          | Vesting      of Accounts  | 11 |
| ARTICLE      VI              | PLAN      DISTRIBUTIONS  | 11 |
| 6.1                          | Time      for Payment  | 11 |

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| 6.2               | Form      of Payment/Payment Schedule                         | 12 |
|-------------------|--------------------------------------------------------------------|----|
| 6.3               | Discretionary      Acceleration of Payments                   | 13 |
| 6.4               | Delay      of Payments                                        | 15 |
| 6.5               | Payment      Upon Change in Control of Company                | 16 |
| 6.6               | Tax      Withholding                                          | 16 |
| 6.7               | Valuation      of Accounts for Distributions and Withdrawals  | 16 |
| ARTICLE      VII  | ADMINISTRATION      OF THE PLAN                               | 16 |
| 7.1               | Plan      Administrator                                       | 16 |
| 7.2               | Outside      Services                                         | 17 |
| 7.3               | Indemnification                                               | 17 |
| 7.4               | Claims      Procedure                                         | 17 |
| 7.5               | Compliance      with Section 409A                             | 18 |
| ARTICLE      VIII | AMENDMENT      AND TERMINATION                                | 18 |
| 8.1               | Amendment                                                     | 18 |
| 8.2               | Termination                                                   | 19 |
| ARTICLE      IX   | GRANDFATHERED      ACCOUNTS                                   | 20 |
| 9.1               | Maintenance      of Grandfathered Accounts                    | 20 |
| 9.2               | Distributions                                                 | 20 |
| 9.3               | Construction                                                  | 22 |
| ARTICLE      X    | MISCELLANEOUS      PROVISIONS                                 | 22 |
| 10.1              | Source      of Payments                                       | 22 |
| 10.2              | No      Warranties                                            | 22 |
| 10.3              | Inalienability      of Benefits                               | 22 |
| 10.4              | Expenses                                                      | 23 |

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| 10.5           | No      Right of Employment  | 23     |
|----------------|-----------------------------------|--------|
| 10.6           | Headings                     | 23     |
| 10.7           | Gender      and Number       | 23     |
| 10.8           | Construction                 | 23     |
| EXHIBIT      A | Grandfathered      Participants   |   |

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| 1.1. | Name and      History.  The name of this plan is the Deferred      Compensation Plan for Officers and Directors of Central Vermont Public      Service Corporation (the “Plan”). The Plan was originally established with      an effective date of January 1, 2002, by Central Vermont Public Service      Corporation. Following the enactment of Section 409A on October 22, 2004,      the Plan was amended and restated on August 4, 2008, with an effective      date of January 1, 2005, with the intention of bringing the Plan into      compliance with the requirements of Section 409A.  Subsequently,      the Internal Revenue Service and Department of Treasury issued substantive      guidance regarding the application of Section 409A to nonqualified      deferred compensation, and extended the period for amending nonqualified      deferred compensation plans that were in existence at the time of      enactment of Section 409A to December 31, 2008.  Accordingly,      the Plan was amended and restated by the Board on August 4, 2008, with an      effective date of January 1, 2005. |
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| 1.2. | Purpose.  The      purpose of the Plan is to attract and retain key employees by providing      each Participant with an opportunity to defer receipt of a portion of      their base salary, bonus, and other specified compensation.  The      purpose of amending and restating the Plan is to (i) comply with the final      Treasury regulations issued under Section 409A, and (ii) provide for the      payment of amounts deferred under the Plan prior to January 1, 2005,      (including any investment earnings thereon) with respect to those      Participants who are listed on Exhibit A (the “Grandfathered      Participants”).  The Plan shall at all times be interpreted by      the Plan Administrator in a manner that is consistent with Section      409A. |
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| 1.3. | Trust.  Company      may set aside assets in a trust or other funding arrangement as it, or its      delegate, deems appropriate to anticipate benefit liabilities accumulating      under the Plan.  However, the assets of any such arrangement      shall, at all times, be subject to the claims of Company’s creditors and      no portion of any funds set apart for a Participant, pursuant to this Plan      shall be the property of such Participant until distribution thereof has      been made.  Further, the rights of a Participant shall be      limited to those of a general, unsecured creditor of Company who has a      claim equal to the value of the Participant’s Account. Benefits under this      Plan will be payable from the general assets of Company, or from such      other funding vehicle established for such purpose as described above, or      both. |
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| 2.1. | Definitions.  The      following terms have the meanings set forth below unless a different      meaning is required by the context. |
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| 3.1. | Eligibility.  All      Officers and Directors of Company are eligible to participate in the plan      as well as any Employee who is (i) expressly selected by the Board, in its      sole discretion, to participate in the Plan, and (ii) a member of a      “select group of management or highly compensated employees,” within the      meaning of Sections 201, 301 and 401 of ERISA shall be eligible to      participate in the Plan (as the circumstances require, an “Eligible      Officer”, “Eligible Employee” or “Eligible  Director”). |
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| 3.2. | Commencement of      Participation.  An Eligible Officer, Employee or Director      shall commence participation in the Plan effective as of his/her Entry      Date. |
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| 3.3. | Duration.  A      Participant shall be eligible to defer Base Pay and Incentive Pay, subject      to the terms of the Plan, for as long as such Participant meets the      eligibility requirements of the Plan.  A Participant’s      entitlement to make such deferrals shall cease with respect to the Plan      Year following the Plan Year in which Participant ceases to be eligible.      Although such individual’s eligibility to continue to make deferrals may      cease, he/she shall continue to be subject to all of the terms and      conditions of the Plan for as long as he/she remains a Participant. An      individual shall remain a Participant as long as his/her Account is      greater than zero. An individual shall cease being a Participant in the      Plan when all benefits under the Plan to which he/she is entitled have      been paid. |
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| 4.1. | Deferral Election      Agreement.  A Participant may elect to defer a portion of      his/her Base Pay and/or Incentive Pay by entering into a Deferral Election      Agreement with Company pursuant to the rules set forth in this Article      IV.   Amounts deferred shall be credited to the      Participant’s Account as soon as practicable after the date on which such      Base Pay or Incentive Pay would have been paid or otherwise made available      to the Participant but for the Participant’s deferral      election. |
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| 4.4. | Period For Which      Deferral Election Agreement Applies.  Except with respect      to Performance Share Plan Awards or similar long-term incentive      compensation plans, a Deferral Election Agreement for a Plan Year shall      apply only with respect to that Plan Year.  Deferrals for a      subsequent Plan Year shall be made only pursuant to a new Deferral      Election Agreement that applies with respect to such subsequent Plan      Year.  A Deferral Election Agreement made with respect to a      Performance Share Plan Award (or similar long-term plan) shall remain in      effect until the completion of the performance period to which such      election was made; however, a separate Deferral Election Agreement may be      made in each subsequent Plan Year for each new performance      cycle. |
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| 5.1. | Vesting of      Accounts.  Each Participant shall be one hundred percent      (100%) vested at all times in the value of his/her  Account. |
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| 6.3. | Discretionary      Acceleration of Payments.  To the extent permitted by      Code Section 409A, the Plan Administrator may, in its sole discretion,      accelerate the time or schedule of a payment under the Plan as provided in      this Section.  The provisions of this Section are intended to      comply with the exception to accelerated payments under Treasury      Regulation Section 1.409A-3(j) and shall be interpreted and administered      accordingly. |
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| 6.4. | Delay of      Payments.  To the extent permitted under Code Section      409A, the Plan Administrator may, in its sole discretion, delay payment      under any of the following circumstances, provided that the Plan      Administrator treats all payments to similarly situated Participants on a      reasonably consistent basis: |
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| 6.5. | Payment Upon Change in      Control of Company.  In the event of a Change in Control,      a Participant shall receive the benefit, if any, as provided for in the      Change in Control Agreement between the Participant and      Company. |
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| 6.6. | Tax      Withholding.  Payments and deferrals hereunder shall be      subject to tax withholding pursuant to applicable federal and state      requirements. |
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| 6.7. | Valuation of Accounts      for Distributions and Withdrawals.  In general, the value      of a Participant’s Account as of the last day of the quarter preceding the      distributions (adjusted for any subsequent debits or credits to the      Account) shall be used to determine the amount of the distribution,      provided that the Plan Administrator may adopt other methods consistent      with the account process used to valueAccounts. |
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| 7.1. | Plan      Administrator.  Company shall designate a Plan      Administrator which shall be solely responsible for the operation and      administration of the Plan.  The Plan Administrator shall have      all powers necessary and appropriate to carry out its responsibilities in      operating and administering the Plan including the power to determine      eligibility for |
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| 7.2. | Outside      Services.  The Plan Administrator may engage counsel and      such clerical, financial, investment, accounting, and other specialized      services as the Plan Administrator may deem necessary or desirable to the      operation and administration of the Plan.  The Plan      Administrator shall be entitled to rely upon any opinions, reports, or      other advice furnished by counsel or other specialists engaged for that      purpose and, in so relying, shall be fully protected in any action,      determination, or omission made in goodfaith. |
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| 7.3. | Indemnification.  Company      shall indemnify the Plan Administrator against any and all claims, loss,      damages, expenses (including reasonable counsel fees), and liability      arising from any action, failure to act, or other conduct in the Plan      Administrator’s official capacity, except when due to the Plan      Administrator’s own gross negligence or willful  misconduct. |
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| 7.4. | Claims      Procedure.  If any application for a distribution or      withdrawal under the Plan is denied, the Plan Administrator shall so      notify the claimant within ninety (90) days after receipt of the      application and shall afford such claimant a reasonable opportunity for a      full and fair review of the decision denying his/her      claim.  Notice of such denial shall set forth, in addition to      the specific reasons for the denial, the  following: |
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| 7.5. | Compliance with      Section 409A.  It is intended that the payments and      benefits provided under the Plan shall either be exempt from the      application of, or comply with, the requirements of Section 409A. This      Plan shall be construed, administered, and governed in a manner that      effects such intent, and Company shall not knowingly take any action that      would be inconsistent with such intent. Without limiting the foregoing,      the payments and benefits provided under the Plan may not be deferred,      accelerated, extended, paid out or modified in a manner that would result      in the imposition of an additional tax under Section 409A upon      Participant. Although Company shall use its best efforts to avoid the      imposition of taxation, interest and penalties under Section 409A, the tax      treatment of the benefits provided under this Agreement is not warranted      or guaranteed. Neither Company, its directors, officers, employees or      advisors shall be held liable for any taxes, interest, penalties or other      monetary amounts owed by Participant or other taxpayer as a result of      his/her participation in the Plan. |
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| 8.1. | Amendment.  By      action of the Board, Company reserves the right at any time and from time      to time to amend any or all provisions of the Plan. In addition, the Plan      Administrator shall have the right at any time and from time to time to      amend the Plan to the extent that such amendments are administrative in      nature, Plan |
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| 8.2. | Termination.  The      Plan is purely voluntary on the part of Company and Company reserves the      right to terminate the Plan at any time.  In the event that the      Plan is terminated, a Participant’s Account shall be distributed to the      Participant or his/her Beneficiary on the dates on which the Participant      or his/her Beneficiary would otherwise receive benefits hereunder without      regard to the termination of the Plan. Notwithstanding the preceding      sentence, and to the extent permitted under Section 409A, Company, by      action taken by its Board, may terminate the Plan and accelerate the      payment of the vested Account Balances subject to the following      conditions: |
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| 9.1. | Maintenance of      Grandfathered Accounts.  Company shall maintain a      separate sub-account known as a Grandfathered Account for each      Grandfathered Participant listed on Exhibit A.  Each      Grandfathered Account shall be maintained by Company until its balance is      reduced to zero.  Unless inconsistent with or otherwise provided      for in this Article 9, all provisions of the Plan shall be applicable to      each Grandfathered Participant with respect to his/her Grandfathered      Account. |
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| 9.2. | Distributions. |
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| 9.3. | Construction.  Except      to the extent that this Article IX specifically provides otherwise,      the  provisions of the Plan shall be applicable to the      maintenance of the Grandfathered Accounts, provided, however; such      provisions of the Plan shall be construed in a manner that is consistent      with the purpose of this Article IX which is to preserve as much      flexibility as to the timing and form of payments afforded Grandfathered      Participants with respect to their Grandfathered Accounts as is      permissible under Section 409A. |
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| 10.1. | Source of      Payments.  All payments hereunder to Participants and      their Beneficiaries shall be paid from the general assets of      Company.  Company shall not by virtue of any provisions of the      Plan be deemed to be a trustee or other fiduciary of any property for any      Participant or his/her Beneficiaries, and the liabilities of Company to a      Participant or his/her Beneficiaries pursuant to the Plan shall be those      of a debtor pursuant only to such contractual obligations as are created      by the Plan.  No such obligation of Company shall be deemed to      be secured by any pledge or other encumbrance on any property of      Company.  To the extent that any Participant or his/her      Beneficiaries acquire a right to receive a payment from Company under the      Plan, such right shall be no greater than the right of any unsecured      general creditor of Company. |
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| 10.2. | No      Warranties.  Neither the Plan Administrator nor Company      warrants or represents in any way that the value of each Participant’s      Account will increase and not decrease.  Each Participant (and      his/her Beneficiary) assumes all risk in connection with any change in      such value, which may include losses invalue. |
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| 10.3. | Inalienability of      Benefits.  Except as provided by law, no benefit under,      or interest in, the Plan shall be subject in any manner to anticipation,      alienation, sale, transfer, assignment, pledge, encumbrance, or charge,      and any attempt to do so shall be void.  Any such benefit or      interest shall not in any manner be liable for, or subject    to, |
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| 10.4. | Expenses.  Company      may pay all costs and expenses incurred in operating and administering the      Plan, but Company reserves the right to charge Participants’ Accounts for      any or all such costs and expenses. |
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| 10.5. | No Right of      Employment.  Nothing contained herein, nor any action      taken under the provisions hereof, shall be construed as giving any      Officer the right to be retained in the employ of Company or any Director      the right to continue in his/her capacity as a  Director. |
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| 10.6. | Headings.  The      headings of the sections in the Plan are placed herein solely for      convenience of reference, and, in all circumstances, the text of the Plan,      rather than such heading, shallcontrol. |
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| 10.7. | Gender and      Number.  Whenever used in the Plan, the masculine gender      will include the feminine, and the singular will include the plural,      unless the context clearly indicatesotherwise. |
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| 10.8. | Construction.  The      Plan shall be construed, regulated, and administered in accordance with      the laws of the State of Vermont and applicable federal    laws. |
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|                                                                                                                                                                                                                                                   | CENTRAL      VERMONT PUBLICSERVICE      CORPORATION                                                                                                                                   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| By:                                                                                                                                                                                                                                                    | /s/ Robert H.      Young                            |
|  Title:                                                                                                                                                                                                                                           |  President & Chief      Executive Officer                                                                                                                                         |
|  Attest:                                                                                                                                                                                                                                     |                                                                                                                                                                                       |
| By:    /s/ Dale A.      Rocheleau                        Dale      A. Rocheleau (Corporate      Seal) |                                                                                                                                                                                       |

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