Document:

WWW.EXFILE.COM, INC. -- 14145 -- CHATTEM, INC. -- EXHIBIT 10.42 TO FORM 10-K

    EXHIBIT
      10.42

     

    

     

    

     

    Incentive
      Compensation Plan

     

    The
      Company’s annual incentive compensation plan is intended to assist the Company
      in rewarding and motivating key employees, focuses strongly on Company and
      individual performance, and provides a fully competitive compensation package
      to
      plan participants. As a pay-for-performance plan, cash incentive awards are
      paid
      annually based on the achievement of performance objectives for the year. Under
      the plan, each plan participant is provided a range of potential annual
      incentive awards based on competitive award levels in the marketplace. Actual
      awards paid under the plan are based on the Company’s corporate performance.
      Individual performance is also considered in determining actual award levels,
      but is assessed in a non-formulaic fashion. The incentive compensation plan
      performance objective is earnings per share performance against plan. The
      maximum incentive awards that could be awarded to the Company’s named executive
      officers pursuant to the incentive compensation plan are as follows: chairman
      and chief executive officer - (150% x annual base salary); president and chief
      operating officer - (100% x annual base salary); vice presidents - (60% x annual
      base salary).UIL Exhibit 10.10D Amended Employment Agreement

    EXHIBIT
      10.10D

    

    AMENDMENT
      TO

    EMPLOYMENT
      AGREEMENT

    BETWEEN
      UIL HOLDINGS CORPORATION

    AND

    NATHANIEL
      D. WOODSON

    (dated
      November 28, 2005)

    

    

    WHEREAS,
      the Department of the Treasury has issued proposed regulations and Notice 2005-1
      concerning the implementation of the new non-qualified deferred compensation
      rules contained in Section 409A of the Internal Revenue Code; and

    

    WHEREAS,
      such guidance permits amendment of non-qualified deferred compensation plans
      and
      arrangements in order to provide transitional flexibility with regard to the
      implementation of the new rules;

    

    NOW
      THEREFORE, UIL Holdings Corporation (the ‘Company’) and Nathaniel D. Woodson
      (the ‘Executive’), hereby agree that Section 4(g) of the Employment Agreement
      dated as of November 8, 2004 between the Company and the Executive, as amended,
      is further amended by the addition of the following paragraphs at the end
      thereof:

    

    

    During
      2005, the Executive may cancel participation in his SERP or cancel a deferral
      election, without causing the SERP to violate the provisions of 409A of the
      Internal Revenue Code and guidance issued thereunder, and without causing his
      Accrued Benefit to be includable in income under the doctrine of constructive
      receipt; provided that the amounts subject to the election to terminate SERP
      participation are includable in the Executive’s income in 2005 or, if later, the
      taxable year in which the amounts are earned and vested. 

    

    With
      respect to amounts that are subject to Section 409A, the Executive may, on
      or
      before December 31, 2006, file a new payment election as to time and form of
      payment and the election will not be treated as a change in the form and timing
      of payment under Section 409(a)(4) or an acceleration of a payment under Section
      409(a)(3), provided that if the Executive makes such election on or after
      January 1, 2006 and before January 1, 2007, the Executive cannot change payment
      elections with respect to payments that he otherwise would receive in 2006,
      or
      cause payments to be made in 2006.

    

    During
      2005, the Grandfathered portion of the SERP may be terminated in its entirety,
      provided that all amounts deferred thereunder are included in income in the
      taxable year in which the termination occurs.

    

    Notwithstanding
      anything to the contrary in this subsection, the grandfathered amount shall
      be
      determined in accordance with Treasury Regulations and other guidance issued
      pursuant to Section 409A of the Code, including, without limitation, regulations
      permitting the grandfathered amount to be calculated taking into account early
      retirement subsidies that the Executive becomes eligible for after December
      31,
      2004, without regard to additional services performed after December 31,
      2004.

    
      
         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
      day
      and year first above written.

    

    

                 
UIL
      HOLDINGS
      CORPORATION

    

    Attest: 

     

    
      
        

        
          	
                  /s/
                    Susan E. Allen                     

                	 	
                  By:

                	
                  /s/
                    Thelma R. Albright               

                
	
                  Susan
                    E. Allen, Vice President

                	 	 	
                  Thelma
                    R. Albright, Chairman

                
	
                  Investor
                    Relations, Corporate Secretary & 

                  Treasurer

                	 	 	
                  Compensation
                    and Executive Development

                  Committee

                

        

         

        
          	 	 	 	
                  /s/
                    Nathaniel D. Woodsion             

                
	 	 	 	
                  Nathaniel
                    D. Woodson

                

        

        
           

          -
            2
            -UIL Exhibit 10.19B Amended Employment Agreement

    EXHIBIT
      10.19B

    

    AMENDMENT
      TO

    EMPLOYMENT
      AGREEMENT

    BETWEEN
      UIL HOLDINGS CORPORATION

    AND

    LOUIS
      J.
      PAGLIA

    (dated
      November 28, 2005)

    

    

    WHEREAS,
      the Department of the Treasury has issued proposed regulations and Notice 2005-1
      concerning the implementation of the new non-qualified deferred compensation
      rules contained in Section 409A of the Internal Revenue Code; and

    

    WHEREAS,
      such guidance permits amendment of non-qualified deferred compensation plans
      and
      arrangements in order to provide transitional flexibility with regard to the
      implementation of the new rules;

    

    NOW
      THEREFORE, UIL Holdings Corporation (the ‘Company’) and Louis J. Paglia (the
‘Executive’), hereby agree that Section 4(g) of the Employment Agreement dated
      as of November 8, 2004 between the Company and the Executive, is amended by
      the
      addition of the following paragraphs at the end thereof:

    

    

    During
      2005, the Executive may cancel participation in his SERP or cancel a deferral
      election, without causing the SERP to violate the provisions of 409A of the
      Internal Revenue Code and guidance issued thereunder, and without causing his
      Accrued Benefit to be includable in income under the doctrine of constructive
      receipt; provided that the amounts subject to the election to terminate SERP
      participation are includable in the Executive’s income in 2005 or, if later, the
      taxable year in which the amounts are earned and vested. 

    

    During
      2005, the Grandfathered portion of the SERP may be terminated in its entirety,
      provided that all amounts deferred thereunder are included in income in the
      taxable year in which the termination occurs. Pursuant to that provision, the
      Company and Executive hereby agree that his SERP benefit under this Section
      4(g)
      shall be frozen as of December 31, 2004, and the entire accrued benefit as
      of
      December 31, 2004 shall be ‘grandfathered’, terminated and distributed on or
      before December 31, 2005. 

    

    Notwithstanding
      anything to the contrary in this subsection, the grandfathered amount shall
      be
      determined in accordance with Treasury Regulations and other guidance issued
      pursuant to Section 409A of the Code, including, without limitation, regulations
      permitting the grandfathered amount to be calculated taking into account early
      retirement subsidies that the Executive becomes eligible for after December
      31,
      2004, without regard to additional services performed after December 31,
      2004.

    
      
         

      

      
        
          

        

      

       

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
      day
      and year first above written.

    

    

                              UIL
      HOLDINGS
      CORPORATION

    

    Attest: 

     

    
      	
              /s/
                Susan E. Allen                   

            	 	
              By:

            	
              /s/
                Nathaniel D. Woodson          

            
	
                Susan
                E. Allen,
                Vice President

            	 	 	
                Nathaniel
                D.
                Woodson Chairman

            
	
                Investor
                Relations,
                Corporate Secretary & 

                Treasurer

            	 	 	
                and
                Chief Executive
                Officer

            

    

    

    

    
      	 	 	 	
              /s/
                Louis J. Paglia                

            
	 	 	 	
               
Louis
                J.
                Paglia

            

    

     

    -
      2
      -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]