Document:

Separation Agreement between Dietrich Firnhaber and RWE Aktiengesellschaft

 Exhibit 10.6 
 English Translation 
 RWE Solutions 
 Agreement 
 By and between 
 RWE Solutions Aktiengesellschaft, Industriestr. 13, D-63755 Alzenau 
 - hereinafter: the Company – 

and 
 Mr. Dietrich Firnhaber, 31 Elm Avenue, Haddonfield, NJ 08033,
USA 
 The parties hereto have agreed on the following terms and conditions: 
  

	1.	The employment relationship existing between the Company and Mr. Firnhaber pursuant to the contract of employment dated February 2, 1999, shall end by mutual consent upon
expiry of June 30, 2008. The staff transfer agreement dated February 12, 2003, incl. any supplements and other contracts concluded with affiliated companies in the RWE Group, shall end by mutual consent upon expiry of June 30, 2008.
The secondment to American Water Works Inc., Voorhees / USA, shall be extended by mutual agreement until expiry of June 30, 2008. The Company will forward you a corresponding agreement shortly. 

  

	2.	For the term of the secondment, the staff transfer agreement and the rules of the RWE Group’s secondment guidelines shall apply in their variously valid versions. Specifically,
reference is made to the continued applicability of the rules on removal costs (item 10.3), travel costs home (item 10.4), tax advice (item 4.4) and the re-integration of children into the domestic education system (item 10.6).

  

	3.	From August 1, 2007, until legal termination of the employment on June 30, 2008, Mr. Firnhaber shall revocably be released from the obligation to perform his duties,
subject to continued payment of all remuneration components contractually due to him. This shall also include the continued grant of his function allowance until June 30, 2008. Any powers of attorney granted to Mr. Firnhaber shall
extinguish with such release. Any remaining claims to vacation from the years 2007 and – pro-rata temporis – 2008, shall count in full toward the release and shall no longer exist upon expiry of June 30, 2008.

  

	4.	As compensation for any disadvantages sustained by Mr. Firnhaber due to the termination of his employment, the Company shall make a one-off gross severance payment in the
amount of 

 € 350,000 
 (in words: three-hundred and fifty-thousand euros), 

 which shall be due with the salary statement for the last month of his employment. Disbursement shall
take account of the individual tax requirements existing at the time of payment. 
  

	5.	Any mutual claims arising under this Cancellation Agreement shall come into being upon its being given legally binding signatures and shall be heritable. Should the employee decease
prior to termination of the employment, any claims resulting from this Agreement shall pass to his heirs (cf. Federal Labor Court/BAG June 25, 1987, DB 88, 864). 

  

	 6.
	 Mr. Firnhaber shall be entitled to end the employment relationship even before June 30, 2008, by giving two
weeks’ notice to the end of a month, which expressly reflects the Company’s wishes. In such a case, the severance payment pursuant to item 4 of this Cancellation Agreement shall be increased for each full month that the employment
relationship ends before June 30, 2008, by € 20,354.17 (in words: twenty-thousand three-hundred and fifty-four 17/100) in each case, gross. 

  

	7.	Mr. Firnhaber’s claim to a profit-sharing bonus (corporate profit sharing bonus, individual profit sharing bonus) under the service agreement for the 2007 business year
and, pro-rata temporis, for the 2008 business year shall be mutually fixed with 100% target achievement in each case and disbursed pursuant to the provisions of the contract of employment. The profit-sharing bonus for the pro-rated 2008
business year shall be settled and disbursed with the salary statement for the final month of the employment. In the event that the employment is prematurely ended by Mr. Firnhaber pursuant to item 6, the above disbursement date shall also
apply to any claims to a profit-sharing bonus for the 2007 business year. 

  

	8.	The grant of the above severance payment is associated with a repayment proviso. Should Mr. Firnhaber enter into a service or employment relationship prior to expiry of
June 30, 2010, with a company in which the RWE Group holds a majority stake on June 30, 2008, the severance payment shall be returned. The claim to return of the payment shall be reduced by 1/24 of the total amount per month in the period
from July 1, 2008, until June 30, 2010. 

  

	9.	The shadow salary for domestic employment dormant during the secondment shall be increased by 3% with retroactive effect as per January 1, 2007. You shall receive from the
Company a corresponding salary notification after this Agreement has been signed. 

  

	10.	As per the termination date, Mr. Firnhaber shall receive a favorable, qualified final testimonial which shall also extend to leadership and performance. Mr. Firnhaber
shall submit a suitable draft for this purpose. The Company shall provide any third parties with information only on the basis of this testimonial. Any announcements as regards Mr. Firnhaber’s withdrawal shall be made, both internally and
externally, only in a reviewed form. 

  

 -2- 

	11.	Mr. Firnhaber may claim outplacement advice pursuant to the framework consultancy agreement between RWE AG, Essen, and Mühlenhoff und Partner GmbH, Düsseldorf. Upon
request, information on how to make contact shall be provided at short notice. 

  

	12.	In respect of any costs incurred for overnight stays within the scope of any professional re-alignment and outplacement advice, Mr. Firnhaber shall receive a lump-sum payment
amounting to € 6,000, gross. The amount shall be due and payable upon this Agreement becoming effective. No evidence of use is necessary. 

  

	13.	The company pension commitment given to Mr. Firnhaber pursuant to the pension rules I and II dated July 28, 1998, of LAHMEYER AG or pursuant to the currently applicable
versions of such pension rules shall survive within the scope of the provisions of statute as entitlement to a vested claim to retirement pension. 

 Mr. Firnhaber shall be notified of the amount of his entitlement pursuant to the statutory provisions of sec. 2(6) of Germany’s Occupational Pensions Act (BetrAVG) by June 30, 2008. 

 

	14.	Any rights associated with a rise in value and any stock options granted to, though not yet exercised by, Mr. Firnhaber may also be exercised even after the employment
relationship has ended (good-leaver rule) upon the conditions being met for exercise of such rights pursuant to the rules of the scheme concerned. No payment in lieu shall be paid. 

  

	15.	The executive completion bonus held out as a prospect to Mr. Firnhaber by American Water Works Inc. by letter dated March 20, 2006, is not the subject matter of this
Cancellation Agreement and, pursuant to the entry conditions, may only be claimed against AWW. The Company assumes no payment obligation. 

  

	16.	Mr. Firnhaber undertakes to return to the Company on the last day of work any items made available to him (company car, cell phone, keys, etc.) as well as any records and
documents owned by the Company, incl. those of a digital nature, in a due and proper state and with an assurance of completeness. Mr. Firnhaber shall have no right of retention over the surrender duty. In addition, any other payments in kind
granted shall cease to apply as of the termination date. 

  

	17.	The Company shall wind up the employment relationship as contractually agreed by the time of withdrawal. 

  

	18.	For preparation and winding up of this Agreement and for the period until the employment has legally ended, the organizational unit in charge of executives
“Führungskräfte (EL)” of RWE Energy AG, Dortmund, shall be available as contact and for coordinating the winding up of the employment relationship. 

  

 -3- 

	19.	Upon termination of the employment and fulfilment of the above terms and conditions, all mutual claims of the parties under and in connection with the employment and its termination
shall be settled therewith and shall no longer exist. 

  

	20.	The above provisions are complete. Any covenants and supplements shall only be valid if confirmed in writing by both parties hereto. 

  

	21.	Should any provision of this Agreement be or become ineffective or contain gaps, this shall not affect the validity of the remaining provisions. Any invalid term shall be replaced
and any gap filled with a suitable arrangement. 

  

			
	 Alzenau, June 18, 2007
	 	Haddonfield,
		
	 /signatures/
	 	
	 /s/ RWE Solutions Aktiengesellschaft
	 	/s/ Dietrich Firnhaber

  

 -4-RWE Executive Deferred Compensation Plan (A)

 Exhibit 10.10 
 Guideline of RWE Aktiengesellschaft 
 for supplemental pension provision based on deferred 
 compensation for executive staff with profit-sharing status 
 Preamble 
  

	1	Scope of application 

  

	2	Partial income conversion (deferred compensation) 

  

	 	2.1	Portions of remuneration concerned 

  

	 	2.2	Deferral amount 

  

	 	2.3	Deferral declaration 

  

	3	Pension benefits 

  

	 	3.1	Retirement capital (Alterskapital) 

  

	 	3.2	Premature retirement capital (Vorzeitiges Alterskapital) 

  

	 	3.3	Disability capital (Invaliditätskapital) 

  

	 	3.4	Death-benefit capital (Todesfallkapital) 

  

	 	3.5	Commencement of pension benefits 

  

	 	3.6	Vested (non-forfeitable) pension rights 

  

	 	3.7	Maturity and payout of pension benefits 

  

	4	Insolvency protection 

  

	5	Other arrangements 

  

  

			
	Position: September 2002	 	1

 Guideline of RWE Aktiengesellschaft 
 for supplemental pension provision based on deferred 
 compensation for executive staff with
profit-sharing status 
  

 Preamble 
 In view of current demographic developments, private pension programs are gaining more and more in importance. Especially staff whose income exceeds the assessment threshold for statutory pension insurance may well be facing a considerable
gap in their provision for retirement. 
 For this reason, executive staff at RWE Aktiengesellschaft with profit-sharing status are being given the option of
deferring a self-defined portion of their future profit shares in favor of a later pension payment. 
 This pension payment is disbursed to staff upon
retirement to supplement statutory, company and any other existing private pension plans. Also included is provision for disability and death. 
 Taxation of
the converted profit-sharing portions is deferred until actual receipt of the monies following retirement (cf. possibly item 3.4 as well). 
  

	1.	Scope of application 

 The above offer is addressed to those
members of staff at RWE Aktiengesellschaft, who are 
  

	•	 	 eligible for a share in the profit and 

  

	•	 	 in permanent and currently ongoing employment. 

 RWE
Aktiengesellschaft intends to offer this form of deferred compensation in the next few years as well in order to supplement private provision for old age, but is not obliged to do so. 
  

  

			
	Position: September 2002	 	2

 Guideline of RWE Aktiengesellschaft 
 for supplemental pension provision based on deferred 
 compensation for executive staff with
profit-sharing status 
  

	2	Partial income conversion (deferred compensation) 

  

	2.1	Portions of remuneration concerned 

 RWE Aktiengesellschaft
offers its executive staff the option of deferring payment of part of their likely profit share for a business year in favor of a later pension payment. 
  

	2.2	Deferral amount 

 Staff must convert at least €
2,500 (gross) of their profit share, and may convert max. the entire amount. 
  

	2.3	Deferral declaration 

 Employees decide as of each
December 31 – regardless of the previous year’s decision – how much of their (gross) profit share they wish to have assigned in the following financial year to the deferred-compensation model. The form attached as Annex I is to
be used for this purpose. 
  

	3.	Pension benefits 

 RWE Aktiengesellschaft gives staff a
legally binding pension commitment and, at a later point in time (as a rule upon retirement), disburses to staff the pension benefit corresponding to the deferred compensation. Employees receive an annual pension notice that indicates the expected
payout amount following completion of the 65th year of life. 
 The portions of their income which staff have deferred for later pension payments are
invested by RWE Aktiengesellschaft in full in employer’s pension liability insurance taken out with Allianz Lebensversicherung AG, whereby the benefits due under the insurance are equal in principle to the pension commitment given. 

At the commencement of an employer’s pension liability insurance, the insurer merely pledges a guaranteed benefit on maturity in the amount of the death-benefit
capital. After addition of the annually allotted profit shares of the insurer, whose amount depends on the insurer’s commercial success – so that it cannot be guaranteed – the actual expiry benefits under the employer’s pension
liability insurance rises successively. Viewed against this background, RWE Aktiengesellschaft, up to an entry age of 59 years, gives a higher pension commitment than that of the insurer 

  

  

			
	Position: September 2002	 	3

 Guideline of RWE Aktiengesellschaft 
 for supplemental pension provision based on deferred 
 compensation for executive staff with
profit-sharing status 
  

 
initially, the amount exceeding the death-benefit capital covered by the pension-plan insurance. As soon as the expiry benefits under the employer’s
pension liability insurance – thanks to the allotted profit shares – exceed the pension benefits guaranteed by RWE Aktiengesellschaft, the pension commitment is increased accordingly. 
 The following pension benefits are envisaged, their various amounts being set forth in the benefit table attached as Annex II. 
  

	3.1	Retirement capital 

 Upon completion of the 65th year of
life, staff receive retirement capital in the amount of the benefit under the concluded employer’s pension liability insurance, though at least the amount pledged by RWE Aktiengesellschaft. 
  

	3.2	Premature retirement capital 

 Upon commencement of the 60th
year of life and prior to completion of the 65th year of life, the staff member may apply for disbursement of premature retirement capital in the amount of the surrender value of the concluded employer’s pension liability insurance. 

The application is to be addressed in writing to RWE Aktiengesellschaft. 
  

	3.3	Disability capital 

 In the event that a staff member becomes
occupationally disabled or unable to earn a living, as set forth in secs. 43-44 of Germany’s Social Security Code (SGB VI), he receives disability capital in the amount of the surrender value of the employer’s pension liability
insurance, though at least in the amount of the deferred compensation, subject to 6 % interest p.a. 
 Alternatively, he may also, following completion
of the 65th year of life, draw the expiry benefits under the concluded employer’s pension liability insurance. 
  

	3.4	Death-benefit capital 

 In the event of a staff member’s
decease, the death-benefit capital under the employer’s pension liability insurance is disbursed in the following order: 
  

	•	 	 to the surviving spouse who was living with the staff member in a valid marriage at the point in time of the decease; 

  

  

			
	Position: September 2002	 	4

 Guideline of RWE Aktiengesellschaft 
 for supplemental pension provision based on deferred 
 compensation for executive staff with
profit-sharing status 
  

	•	 	 to the employee’s surviving natural or adopted children within the meaning of sec. 32(3) and (4), sent. 1, nos. 1 to 3 of Germany’s Income
Tax Act (EStG) (i.e. children for whom the staff member, regardless of the children’s own income and earnings, would obtain a tax allowance for dependent children, e.g. children between 21 and 27 years who are still undergoing
occupational or professional training); 

  

	•	 	 to the former spouse of the staff member; 

  

	•	 	 to a partner of the staff member who is eligible for benefits. 

 Any higher-ranking right to draw benefits excludes disbursement to lower-ranking persons. 
  

	3.5	Commencement of pension benefits 

 If a disability period of
more than 6 weeks exists at the point in time of the deferral of the profit shares, registration for the employer’s pension liability insurance must await the resumption of work. 
 Issue of the pension commitment is postponed accordingly. 
  

	3.6	Vested (non-forfeitable) pension rights 

 In the event that
an employee leaves the service of RWE Aktiengesellschaft without an insured event having occurred, he retains the full vested expectancy in respect of the above pension payments on the basis of the paid-in amounts. 
 No payout of the surrender value for the concluded employer’s pension liability insurance is envisaged. 
  

	3.7	Maturity and payout of pension benefits 

 Upon occurrence of
the insured event, the pension payments are due and payable in the January of the year that follows occurrence of the event. 
 In response to a written
application from the employee or any survivors, the pension benefits are disbursed in up to three equal installments. The first installment is likewise payable in the January of the year that follows occurrence of the insured event. The residual
installments are due and payable in January of each following year. 
  

  

			
	Position: September 2002	 	5

 Guideline of RWE Aktiengesellschaft 
 for supplemental pension provision based on deferred 
 compensation for executive staff with
profit-sharing status 
  

 For each commenced month after occurrence of the insured event and pending maturity and disbursement, the pension
benefit paid by RWE Aktiengesellschaft bears interest at a rate of 6 % p.a. 
 The pension benefits due are paid following deduction of statutory taxes
and the social security contributions to be borne by the staff member. To this end, the staff member or person eligible for benefits must submit the wage-tax deduction card (Lohnsteuerkarte) for registration. 
  

	4.	Insolvency protection 

 The benefits under the
employer’s pension liability insurance are pledged by RWE Aktiengesellschaft to employees with a view to hedging any insolvency risks. 
  

	5.	Other arrangements 

 In principle, pension benefits cannot be
used by staff for pledging, lending on, assignments and making advances. 
 In the following cases, the organizational unit “Group Executive
Management” of RWE Aktiengesellschaft is to be informed without delay: 
  

	•	 	 in the event of any change of address 

  

	•	 	 in drawing pension benefits 

 Essen,
September 3, 2002 
 RWE Aktiengesellschaft 
  

  

			
	Position: September 2002	 	6

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