|EXHIBIT A 10.10.1                                                                                                                                                  
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|CENTRAL VERMONT PUBLIC SERVICE CORPORATION

PERFORMANCE SHARE INCENTIVE PLAN



Effective January 1, 2007

As Amended January 1, 2008



Execution Copy
March, 2008



|CENTRAL VERMONT PUBLIC SERVICE CORPORATION

PERFORMANCE SHARE INCENTIVE PLAN

TABLE OF CONTENTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
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|ARTICLE I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|ARTICLE II                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|ARTICLE III                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
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|ARTICLE IV                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
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|ARTICLE V                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
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|ARTICLE VI                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|ARTICLE VII                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
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|ARTICLE I
PURPOSE

Effective January 1, 2007, Central Vermont Public Service Corporation (the "Employer") has established The Central Vermont Public Service Corporation Performance Share Plan (the "Plan") in order to strengthen the ability of the Employer to attract and retain talented executives and to promote the long-term growth and profitability of the Employer by linking a significant element of executives' compensation opportunity to the performance of the Employer in meeting key operational and shareholder return goals over an extended period of time.   Shareholder return, customer satisfaction, operational efficiency and capital spending are both relative to established peer groups.
|ARTICLE II
DEFINITIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|2.1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|2.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|2.3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|2.4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|2.5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|2.6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|2.7                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|2.8                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|2.9                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|2.10                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.11                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.12                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.13                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.16                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2.24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|ARTICLE III
DETERMINATION OF PERFORMANCE SHARES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|3.1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
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|3.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|ARTICLE IV
PAYMENT OF GRANTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|4.1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|4.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|4.3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|ARTICLE V
TERMINATION OF EMPLOYMENT                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|5.1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
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|5.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|ARTICLE VI
ADMINISTRATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|6.1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|6.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|ARTICLE VII
GENERAL PROVISIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|7.1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|7.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|7.3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|7.4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|7.5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|7.6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|7.7                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|7.8                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|7.9                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|IN WITNESS WHEREOF, the Employer has caused this instrument to be executed by its duly authorized officer as of the 10th day of March, 2008.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|Attest:
By: /s/ Mary C. Marzec
                    Mary Marzec
(Corporate Seal)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

|Exhibit A                                                                                     
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|PeRS Earned for Total Shareholder Return Performance Component
for 2007-2009 Performance Cycle



|Three-Year Total 
Shareholder Return -
Employer Percentile Rank vs. Comparison Group |  | Multiple ofTarget PeRS Earned
|------------------------------------------------------------------------------------ |  | -----------------------------
|75th percentile or higher
50th percentile
30th percentile
Below 30th percentile      |  | 1.5
1.0
0.3
0.0              

|The resulting three year Total Shareholder Return determined for this Plan shall be rounded up to nearest percentile specified above. The multiple of Target PeRS earned between each of the respective percentiles specified above shall be determined by linear interpolation.
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|Exhibit B                                                                                
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|PeRS Earned for Operational Measure Performance Component
For 2007-2009 Performance Cycle



|                                                                                                                                                              | Operational Measures                                                                                                                                                                                                                                                                      | 0X
Threshold                                                                | 1X Target                                                        | 1.5X Max                                                                    | Weight
|------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------- | ---------------------------------------------------------------- | --------------------------------------------------------------------------- | ------
|Financial                                                                                                                                                     | A measure of operational financial performance - ROA (Return on Assets) - average over 3 years                                                                                                                                                                                            | 3.37%                                                                       | 3.95%                                                            | 4.73%                                                                       | 20%   
|CV's financial strength (investment grade status) is restored                                                                                                 | Move to positive outlook BB+                                                                                                                                                                                                                                                              | Achieve investment grade status (BBB- or better)/ negative outlook          | Achieve investment grade status (BBB- or better)/ stable outlook | 25%                                                                        
|Customer                                                                                                                                                      | CV's % of the East Region electric utilities weighted average in overall customer perception as measured by J.D. Power (average over 3 years)                                                                                                                                             | 100% of East Region weighted average                                        | 102.5% of East Region weighted average                           | 105% of East Region weighted average                                        | 20%   
|Service Quality as determined by a subset of the SERVE matrix (average over 3 years.)  The subset includes: CAIDI, SAIFI, and transactional customer service. | 3                                                                                                                                                                                                                                                                                         | 4                                                                           | 5                                                                | 15%                                                                        
|                                                                                                                                                              | Pacific Economics Group (PEG) measure of operational efficiency (1st measure) and capital spending (2nd measure).  Will be measured in 3rd year and the most three years will be calculated and averaged.  If PEG or successor not in business, spread weight evenly over other measures. | 50th percentile or greater                                                  | 70th percentile of greater                                       | Statistically significant superior performance (at 90% confidence interval) | 10%   
|50th percentile or greater                                                                                                                                    | 70th percentile of greater                                                                                                                                                                                                                                                                | Statistically significant superior performance (at 90% confidence interval) | 10%                                                             

|The multiple of Target PeRS is determined by using the weighted performance of the measures above.  Linear interpolation is used for actual performance between performance points specified above for the quantitative measures.
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