Document:

Exhibit 10.24.1

Exhibit 10.24.1

Description of Terms of Separation Arrangement for Cheryl W. Grisé

Mrs. Grisé has announced her plans to retire from the Company on July 1, 2007. In determining the date of her retirement, the Company entered into an agreement in principle with Mrs. Grisé to assure that she would remain with the Company until at least July 1, 2007 in order to ensure an orderly transition of her responsibilities.   As part of the agreement in principle, Mrs. Grisé affirmed the commitments previously made under her employment agreement, including an agreement that, for two years following her retirement, she generally may not engage in activities on behalf of certain competitors, solicit certain employees or interfere with the Company's business relationships.   In consideration of these factors and the other terms of the agreement in principle, the Company will provide Mrs. Grisé with a special retirement benefit which, when combined with her annual benefit under the Retirement Plan and the Supplemental Plan, will provide an approximate annual benefit of $644,000.  Under the agreement in principle, Mrs. Grisé will also be eligible for a lump sum cash payment of roughly $120,000 in lieu of receiving a grant of Restricted Share Units (“RSUs”)  or Performance Cash under the 2007-2009 long-term incentive program.  The agreement in principle also contains a standard general release of all claims against the Company in connection with Mrs. Grisé's employment.Exh. 10.29.2 Incent. Plan Amend. 2

Exhibit 10.29.2

AMENDMENT NO. 2 TO

NORTHEAST UTILITIES INCENTIVE PLAN 

The Northeast Utilities Incentive Plan (the “Plan”), is hereby amended, effective September 12, 2006, as follows:

A.

Article II of the Plan, Subsection 2 is amended to read in its entirety as follows:

“2.

Committee Authority.  The Committee shall have the authority to amend or terminate the Plan as provided in Article XII.  The Committee shall have the sole authority to (i) establish, and review the Company’s and the Grantee’s, as defined below, performance against, annual goals for purpose of the annual incentives to be distributed and determine the individuals to whom grants shall be made under the Plan, (ii) determine the type, size and terms of the grants to be made to each such individual, (iii) determine the time when the grants will be made and the duration of any applicable exercise or restriction period, including the criteria for exercisability and the acceleration of exercisability and (iv) deal with any other matters arising under the Plan.”

B.

Article XII of the Plan is amended to read in its entirety as follows:

1.

Amendment and Termination of the Plan.

(a)

Amendment.  The Board or the Committee may amend or terminate the Plan at any time; provided, however, that neither the Board nor the Committee shall amend the Plan without shareholder approval if such approval is required by Sections 162(m) or 422 of the Code.

(b)

Termination of the Plan.  The Plan shall terminate on the day preceding the tenth anniversary of its effective date, unless the Plan is terminated earlier by the Board or the Committee, or is extended by the Board or the Committee with the approval of the shareholders.

(c)

Termination and Amendment of Outstanding Grants.  A termination or amendment of the Plan that occurs after a Grant is made shall not materially impair the rights of a Grantee  unless the Grantee consents, unless the Committee acts under Article XI, Section 2(c), or unless the amendment or termination is required under statute, regulation, other law, or rule of a governing or administrative body having the effect of a statute or regulation.  The termination of the Plan shall not impair the power and authority of the Committee with respect to an outstanding Grant.

(d)

Governing Document.  The Plan shall be the controlling document.  No other statements, representations, explanatory materials or examples, oral or written, may amend the Plan in any manner.  The Plan shall be binding upon and enforceable against the Company and its successors and assigns.Exh 10.30.8 SERP Amend. 8

Exhibit 10.30.8 

AMENDMENT NO. 8 TO

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

FOR OFFICERS OF NORTHEAST UTILITIES SYSTEM COMPANIES

The Supplemental Executive Retirement Plan for Officers of Northeast Utilities System Companies (the “Plan”) is amended effective January 1, 2006, as follows:

1.1

Amendment to Article II.  Article II is hereby amended to add the following definition:

“Eligible Employee.  “Eligible Employee” means any person (i) employed by an Employer on a regular full-time salaried basis, (ii) designated an officer (excluding any assistant officers) of an Employer with a title of Vice President or of any higher rank, or who is  member of the Board, and (iii) who is a participant in the Retirement Plan.”

1.2

Amendment to Article III.  Article III of the Plan is hereby deleted and the following is substituted:

“III. Participation

Each Eligible Employee shall be a Participant in the Plan with respect to the Make-Whole Benefit.

Each Eligible Employee with a title of Senior Vice President, or higher ranking officer of the Employer, shall be a Participant in the Plan with respect to the Target Benefit.”Exh. 10.32.3 SERP Officers Amend. No. 3

Exhibit 10.32.3

AMENDMENT NO. 3 

TO

SPECIAL SEVERANCE PROGRAM FOR OFFICERS OF 

NORTHEAST UTILITIES SYSTEM COMPANIES

The Special Severance Program for Officers of Northeast Utilities System Companies (the “Plan”), is hereby amended, effective September 12, 2006, as follows:

Article VIII, Subsection (a) of the Plan is amended to read in its entirety as follows:

“(a)

Amendment or Termination.  Prior to the occurrence of a Change of Control, the Board or the Compensation Committee of the Board may amend or discontinue this Program at any time upon providing prior written notice to each Participant specifying the changes to be made.  Any amendment will not be effective until at least two years following such notice, except in the case of an amendment that does not materially impact the timing or amount of benefit provided or is required under statute, regulation, other law, or rule of a governing or administrative body having the effect of a statute or regulation.  Upon and following a Change of Control, this Program may not be amended or terminated in any way that would eliminate or reduce the payments and benefits owing to Participants under the Program.”Exhibit 10.33.2 Exec. Def. Comp. Amend 2

Exhibit 10.33.2

AMENDMENT NO. 3 

TO

SPECIAL SEVERANCE PROGRAM FOR OFFICERS OF 

NORTHEAST UTILITIES SYSTEM COMPANIES

The Special Severance Program for Officers of Northeast Utilities System Companies (the “Plan”), is hereby amended, effective September 12, 2006, as follows:

Article VIII, Subsection (a) of the Plan is amended to read in its entirety as follows:

“(a)

Amendment or Termination.  Prior to the occurrence of a Change of Control, the Board or the Compensation Committee of the Board may amend or discontinue this Program at any time upon providing prior written notice to each Participant specifying the changes to be made.  Any amendment will not be effective until at least two years following such notice, except in the case of an amendment that does not materially impact the timing or amount of benefit provided or is required under statute, regulation, other law, or rule of a governing or administrative body having the effect of a statute or regulation.  Upon and following a Change of Control, this Program may not be amended or terminated in any way that would eliminate or reduce the payments and benefits owing to Participants under the Program.”Exhibit 10.33.3 Def. Comp. Exec. No. 3

Exhibit 10.33.3 

AMENDMENT NO. 3 TO

NORTHEAST UTILITIES DEFERRED COMPENSATION PLAN FOR EXECUTIVES 

The Northeast Utilities Deferred Compensation Plan for Executives, as amended (the “Plan”), is hereby further amended, effective January 1, 2006, as follows:

1.1

Amendment to Article 1.  Article 1 of the Plan  is hereby amended to read as follows:

The purpose of the Northeast Utilities Deferred Compensation Plan for Executives (the “Plan”) is to provide a means whereby the Company (as hereinafter defined) may afford increased financial security, on a tax-favored basis, to a select group of “key management or other “highly compensated employees” of the Company.  These individuals have rendered and continue to render valuable services to the Company which constitute an important contribution towards the Company's continued growth and success.  This Plan will provide for additional future compensation so that such employees may be recruited and retained and their productive efforts encouraged.  Effective January 1, 2006, the Plan is amended to provide certain executives with the benefits that would have been provided to them under the Savings Plan if compensation and benefits were not subject to the limitations imposed under that Plan by Sections 401(a)(17) and 415 of the Code.  

The Plan is intended to constitute an unfunded “top hat” plan within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).  As a top hat plan, the Plan is not subject to the eligibility, vesting, funding or fiduciary responsibility requirements of ERISA.  

2.1

Amendment to Article 2.  Article 2 is hereby amended to add the following definitions:

“Applicable Percentage” shall mean the percentage derived from the sum of the Participant’s whole months of age and of service recognized under the Savings Plan for purposes of determining the K-Vantage Contributions for the Participant in the Savings Plan for any Plan Year. 

“K-Vantage Make-Whole Compensation” shall mean the compensation paid to a K-Vantage Employee that is used under the Savings Plan for purposes of determining the K-Vantage Employee’s K-Vantage employer contributions under the Savings Plan, but without reduction by the applicable limit under Section 401(a)(17) of the Code or any deferrals under this Plan. 

“K-Vantage Make-Whole Contribution”

shall mean a Company contribution made by an Employer under this Plan to the Account of a K-Vantage Employee.

“K-Vantage Employee” shall mean an Eligible Employee who participates in the K-Vantage benefit under the Savings Plan.

2.2

Amendment to Article 2.  The definition of “Enrollment Agreement” is hereby amended to read as follows:

“Enrollment Agreement” means the authorization form which an Eligible Employee executes and files with the Administrator for the purpose of making Base Salary Deferrals and Bonus Compensation Deferrals.

2.3

Amendment to Article 2.  The definition of “Participant” is hereby amended to read as follows:

“Participant” means an Eligible Employee who has filed a completed and executed Enrollment Agreement with the Administrator. for the purpose of making Base Salary Deferrals and Bonus Compensation Deferrals under Section 4.3.  An Eligible Employee who is a K-Vantage Employee is an automatic Participant for purposes of having K-Vantage Make-Whole Contributions allocated to his or her Account under Section 4.4.

2.4

Amendment to Article 2.  The definition of “Service” is hereby amended to read as follows:

“Service” means the period of time during which an employment relationship exists between an Employee and the Company, as credited under the Retirement Plan for vesting purposes or, in the case of a K-Vantage Employee, as credited under the Savings Plan for vesting purposes. 

2.5

Amendment to Article 2.  The definition of “Vesting” or “Vested” is hereby amended to read as follows:

“Vesting” or “Vested”.   “Vesting” or “Vested” refers to the. time after which Matching Contributions and K-Vantage Make-Whole Contributions, and their related earnings, become non-forfeitable, as provided under Section 4.5. 

2.6

Amendment to Article 2.  The definition of “Year of Service” is hereby amended to read as follows:

“Years of Service”  for Vesting purposes is each year of credited service recognized for determining a Participant’s vesting in his or her accrued benefit in the Retirement Plan or, for a  K-Vantage Employee, in his or her K-Vantage source account in the Savings Plan.

3.1

Amendment to Article 4.  Sections 4.4 and 4.5 are hereby added to the Plan to read as follows:

4.4

  K-Vantage Make-Whole Contributions.  The amount of K-Vantage Make-Whole Contributions for each K-Vantage Employee for any Plan Year shall be the Applicable Percentage for that  year under the Savings Plan multiplied by the K-Vantage Employee’s K-Vantage Make-Whole Compensation for that Plan Year, reduced by the sum of the K-Vantage  employer contributions made for the Participant for the Plan Year under the Savings Plan.  K-Vantage Make-Whole Contributions will be credited as frequently as determined by the Administrator, acting on behalf of the Company, but in 

any event at least once per year.  K-Vantage Make-Whole Contributions will be credited as soon as practicable in the Participant's final year of participation in the Plan.

4.5.

Vesting in Matching Contributions and K-Vantage Make-Whole Contributions.  

(a)

Matching Contributions.  A Participant becomes Vested in Matching Contributions and related earnings when the Participant has been credited with three Years of Service after the end of the Plan Year for which the Matching  Contributions were made.  Matching Contributions and related earnings are forfeited when Service terminates, to the extent not then Vested.  A Participant is automatically 100% Vested if a Change of Control occurs or if the Participant becomes Disabled, Retires, or dies.  A Participant is always 100% Vested in Base Salary Deferrals, Bonus Compensation Deferrals, and related earnings.

(b)

K-Vantage Make-Whole Contributions.  A Participant becomes Vested in K-Vantage Make-Whole Contributions and related earnings when the Participant becomes Vested in his or her K-Vantage contributions and related earnings in the Savings Plan. 

4.1

 Amendment to Article 5.  Section 5.3 of the Plan is hereby amended to read as follows:

5.3

Earnings Crediting Options.  Except as otherwise provided pursuant to Section 5.2, the  Earnings Crediting Options available under the Plan shall consist of options which correspond to the investment funds maintained from time to time under the Savings Plan.  In the event of a stock split, stock dividend, reclassification, reorganization or other capital adjustment in the Voting Securities, the number of deemed shares of Voting Securities then credited to the Participant's Account shall be adjusted in the same manner as the shares of Voting Securities are adjusted.  Notwithstanding that the rates of return credited to Participants' Accounts under the Earnings Crediting Options are based upon the actual performance of the corresponding investment funds (or the number of Voting Securities), or such other investment funds as the Company may designate, the Company shall not be obligated to invest any Base Salary and/or Bonus Compensation deferred by Participants under this Plan, Matching Contributions, K-Vantage Make-Whole Contributions or any other amounts, in such portfolios or in any other investment funds.

5.1

Amendment to Article 6.  Section 6.3 of the Plan is hereby amended to read as follows:

6.3

Rescission of Prior Election In Conformity With Code Section 409A Transition Rule.  Participants may change elections under the Plan on or before December 31, 2007, with respect to the form of payment of any deferral under the Plan, or the period for which the amount may be deferred, in whole or part; provided however, that any change on or by December 31, 2006 may not result in the deferral of an amount which, without the change, would have been subject to taxation in 2006, and that any change on or after January 1, 2007 through December 31, 2007 may not result in the 

deferral of an amount which, without the change, would have been subject to taxation in 2007.

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