Document:

EX-10.23

 EXHIBIT 10.23 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (the “Agreement”) is entered into by and among Iberdrola USA, Inc., a New York corporation (the
“Company”), Iberdrola USA Management Corporation, a Delaware corporation (“IUMC”), and Robert D. Kump (the “Executive”) as of October 1, 2010. 

The Board of Directors of the Company (the “Board”) and the Board of Directors of IUMC have determined that it is in the best
interests of the Company and IUMC, respectively, that the Executive continue his employment as a member of the management of the Company and of IUMC. 

The Executive is willing to commit himself to serve the Company and IUMC, on the terms and conditions herein provided. 

In order to effect the foregoing, the Company, IUMC and the Executive wish to enter into an employment agreement on the terms and conditions
set forth below. Accordingly, in consideration of the premises and the respective covenants and agreements of the parties herein contained, and intending to be legally bound hereby, the parties hereto agree as follows: 

1. Defined Terms. The definitions of capitalized terms used in this Agreement, unless otherwise defined herein, are provided in
Section 15 hereof. 
 2. Employment. IUMC hereby agrees to employ the Executive, and the Executive hereby agrees to serve the
Company and IUMC, on the terms and conditions set forth herein, during the term of this Agreement (the “Term”). 
 3. Term of
Agreement. The Term will commence on the date hereof and end on the Date of Termination. 
 4. Position and Duties. The Executive
shall serve as Chief Executive Officer of the Company and shall have such responsibilities, duties and authority that are consistent with such position as may from time to time be assigned to the Executive by the Board. The Executive shall devote
substantially all his working time and efforts to the business and affairs of the Company and its subsidiaries and affiliates. The Executive recognizes that his duties will require, at the Company’s expense, travel to domestic and international
locations. 
 5. Compensation and Related Matters. 

5.1. Base Salary. IUMC shall pay the Executive a base salary (“Base Salary”) during the period of the Executive’s
employment hereunder, which shall be at an initial rate of Six Hundred Thousand Dollars ($600,000.00) per annum. The Base Salary shall be paid in accordance with the Company’s standard payroll practices. The Base Salary shall not be decreased
during the Term. 
 5.2. 2010 Annual Bonus. The Company shall pay to Executive a bonus in respect of his work under this Agreement
during 2010 in accordance with this Section 5.2 (the “2010 Bonus”). 

  
 1 

 Executive shall be eligible to receive a bonus in respect of the period from October 1, 2010 through
December 31, 2010 of up to One Hundred Fifty Thousand Dollars ($150,000), as determined by the Company based upon the achievement at the “Good” level of Iberdrola-wide and Company-wide objectives set in connection with the
Company’s Annual Executive Incentive Plan (the “AEIP”) and individual objectives set by the Company. Any bonus awarded under this paragraph shall be payable at the time the Company generally pays such bonuses to participants in the
AEIP, but in no event later than March 15, 2011. 
 The 2010 Bonus shall be in lieu of any participation by the Executive in the AEIP
and Executive hereby forfeits and waives any participation in the AEIP in respect of 2010. 
 5.3. Annual Bonus. Beginning in 2011
and thereafter for each year during the Term, Executive shall be eligible to participate in the Annual Executive Incentive Plan (“AEIP”), Executive’s AEIP opportunity at target under the AEIP shall be equal to 55% of his Base Salary
at the beginning for such year, and the maximum opportunity shall be equal to 110% of the Base Salary. 
 5.4. Strategic Bonus
Program. Executive shall be eligible to participate in the Iberdrola, S.A. Strategic Bonus Program and any successor thereto (the “Program”) beginning with new grants that occur after the date hereof, the first of which is expected to
occur in 2011. The Executive’s maximum opportunity for the first award under the Program shall be decided upon approval of the new Program by the Remuneration Committee of Iberdrola SA and will be set with reference to Executive’s level
according to the Iberdrola Group classification system. Participation in the Program shall be in lieu of any participation in the Company’s Performance Share Plan. In the event Executive’s employment continues beyond March 31, 2011
and he shall not have received a grant under the Program by such date, then in lieu of participation in the Program the Company shall continue to make annual grants to the Executive under its Performance Share Plan (or any successor thereto) in an
amount at least as much as the grant received by the Executive in 2010 until such time as the Executive begins participation in the Program. 

5.5. Non-qualified Individual Account Balance Deferred Compensation Arrangement. 

 

	 	(A)	As of the date first mentioned above, Executive will be a participant in an employer-funded non-qualified individual account deferred compensation arrangement (the “Arrangement”) to be provided by the Company.
Benefits will be payable to the Executive or his designated beneficiary under the terms of the Arrangement. The Arrangement may be subject to an agreement whereby a financial vehicle within the Company’s best practice principles (“the
Vehicle”) is constituted, and under which contributions will be set aside to fund the Executive’s benefits under the Arrangement. Funds within the Vehicle may be invested as directed by the Fiduciary Committee of the Company, including
investments held by insurance companies. The Arrangement will be put in place on or before December 31, 2010 and contributions in respect of 2010 shall be made on or before such date. 

  
 2 

	 	(B)	The Company shall make contributions under the Arrangement for the Executive’s benefit in an annual amount equal to 10% of the Base Salary. Contributions under the Arrangement shall be made not less than annually.

  

	 	(C)	The Company shall use its best efforts to structure the Vehicle in a manner that will defer inclusion of Arrangement benefits in the Executive’s taxable income until such amounts are actually received by the
Executive. 

  

	 	(D)	Upon Executive’s termination of employment with the Company or upon Executive’s retirement, the Company will make one final contribution corresponding to the year of termination. The final contribution will be
calculated on a prorated basis, based on the portion of the contribution period during which Executive was employed by the Company. Other than as stated in this Section 5.5(D), all of the Company’s obligations to make contributions under
the Arrangement will immediately cease upon termination of the Executive’s employment for any reason. 

  

	 	(E)	The form of payment to Executive or his designated beneficiary shall be as specified in the Arrangement and may be made as a single lump sum, instalment payments, a life annuity, a joint and survivor annuity, or any
combination thereof, as timely elected by the Executive in accordance with the Arrangement. 

  

	 	(F)	Executive shall not be eligible to participate in the Energy East Supplemental Executive Retirement Plan (the “SERP”) or the Energy East Excess Plan (the “Excess Plan”), and Executive agrees to, and
hereby does, waive, relinquish and forfeit all rights to participation in the SERP and the Excess Plan. 

 5.6. Amounts
Owed Pursuant to Agreement and Release. Executive and the Company acknowledge and agree that the Agreement and Release between Executive and the Company executed on September 25, 2009 shall remain in full force and effect (to the extent not
previously satisfied) except as amended herein. Executive and the Company agree that the amount payable to Executive pursuant to. Paragraph 2(B) of the Agreement and Release shall be increased by an amount equal to the amount earned by the Energy
East Management Corporation Benefit Trust on its investment of $3,333,241 in a financial vehicle to be selected by the Company in a commercially reasonable manner consistent with the goal of obtaining a net guaranteed level of interest without risk
of loss of principal. In the event Executive’s employment hereunder is terminated by the Company for Cause or by Executive without Good Reason and early termination or redemption fees are incurred in connection with the financial vehicle
referenced in this Section, the amount of such early termination or redemption fees shall be deducted from the amount otherwise payable to Executive hereunder; in any other circumstances, no such early termination or redemption fees may be deducted
from the amount otherwise payable to the Executive hereunder. Under no circumstances will any losses with respect to any such investment be passed along to Executive; rather, the Company guarantees that Executive shall receive not less than
$3,333,241 at the time payment is due. 

  
 3 

 5.7. Benefit and Long-Term Incentive Plans. The Executive shall continue to be entitled
to participate in or receive compensation and/or benefits, as applicable, under all “employee benefit plans” (as defined in section 3(3) of the Employee Retirement Income Security Act of 1974, as amended from time to time
(“ERISA”)) subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements; provided, however, that Executive shall not be eligible to participate in any compensation plans (except
as explicitly referenced in this Agreement) or nonqualified pension benefit plans; and provided further that there shall be no duplication of the compensation and benefits created by this Agreement. 

5.8. Expenses. Upon presentation of reasonably adequate documentation to IUMC, the Executive shall receive prompt reimbursement from
IUMC for all reasonable and customary business expenses incurred by the Executive in accordance with IUMC policy in performing services hereunder or prior to the date hereof. In addition, IUMC shall pay Executive’s reasonable attorneys’
fees incurred in connection with the negotiation and drafting of this agreement in an amount not to exceed $5,000. 
 6. Compensation
Related to Disability. During the Term of this Agreement, during any period that the Executive fails to perform the Executive’s full-time duties with the Company and IUMC as a result of incapacity due to physical or mental illness, IUMC
shall pay the Executive’s Base Salary to the Executive at the rate in effect at the commencement of any such period, together with all compensation and benefits payable to the Executive under the terms of any compensation or benefit plan,
program or arrangement maintained by the Company or any affiliate during such period, until the Executive’s employment is terminated by the Company for Disability; provided, however, that such Base Salary payments shall be reduced by the sum of
the amounts, if any, payable to the Executive at or prior to the time of any such Base Salary payment under disability benefit plans of the Company or under the Social Security disability insurance program, which amounts were not previously applied
to reduce any such Base Salary payment. 
 7. Compensation Related to Termination. 

7.1. Termination by the Company Without Cause, by Executive for Good Reason, or by Reason of Executive’s Death or Disability. If
the Executive’s employment shall be terminated by the Company without Cause, by Executive for Good Reason, or by reason of the Executive’s death or disability, Executive shall be entitled to receive (a) a lump sum payment payable six
months and one day after the Date of Termination equal to the sum of (i) the Base Salary and (ii) an amount equal to Executive’s AEIP award for the prior year; (b) amounts payable under the AEIP, the Program, and the Performance
Share Plan in accordance with their terms; and (c) all compensation and benefits payable to the Executive through the Date of Termination under any compensation or benefit plan, program or arrangement maintained by the Company or IUMC during
such period and in which Executive participated as of the Date of Termination. In addition, unless IUMC elects to waive Executive’s compliance with the provisions of Section 9 of the Employee Invention and Confidentiality Agreement made as
of February 8, 2001 between Executive and IUMC from and after the date that is six months after the Date of Termination, IUMC shall make an additional lump sum payment to the Executive equal to six months of the Base Salary, payable on the date
that is nine months after the Date of Termination; provided that IUMC must give notice of such election no later than three months after the Date of Termination. 

  
 4 

 7.2. Termination by the Company for Cause; Termination by Executive Without Good Reason.
If the Executive’s employment shall be terminated by the Company for Cause or by Executive without Good Reason, IUMC shall pay (a) the Executive’s Base Salary through the Date of Termination at the rate in effect at the time the
Notice of Termination is given; and (b) all compensation and benefits payable to the Executive through the Date of Termination under the terms of the Agreement or any compensation or benefit plan, program or arrangement maintained by the
Company or IUMC during such period and in which Executive participated as of the Date of Termination. 
 7.3. No Further Liability;
Release. Other than providing the compensation and benefits provided for in accordance with this Section 7, the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and
representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The payment of any amounts pursuant to this Section 7 (other than payments required by law) is expressly conditioned upon the
delivery by Executive to the Company of a release in a form to be provided by the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors,
assigns, agents and representatives arising out of or related to Executive’s employment by the Company and the termination of such employment. The Company shall provide such release to Executive not more than fifteen days after the Date of
Termination. 
 8. Termination Procedures. 

8.1. Notice of Termination. During the Term of this Agreement, any purported termination of the Executive’s employment (other than
by reason of death) shall be communicated by written Notice of Termination from one party hereto to the other parties hereto in accordance with Section 11 hereof. For purposes of this Agreement, a “Notice of Termination” shall mean a
notice which shall indicate the specific termination provision in this Agreement relied upon and, if the termination is purported to be by the Company for Cause or by Executive for Good Reason, shall set forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of the Executive’s employment. 
 8.2. Date of Termination. “Date
of Termination,” with respect to any purported termination of the Executive’s employment during the Term of this Agreement, shall mean (i) if the Executive’s employment is terminated by his death, the date of his death,
(ii) if the Executive’s employment is terminated for Disability, thirty (30) days after Notice of Termination is given (provided that the Executive shall not have returned to the fulltime performance of the Executive’s duties
during such thirty (30) day period), and (iii) if the Executive’s employment is terminated for any other reason, the date specified in the Notice of Termination, which shall not (except in the case of a termination for Cause) be less
than thirty or more than sixty days (except in the case of a termination without Cause, in which event such date shall be no more than ninety days) from the date such Notice of Termination is given. 

  
 5 

 9. Employee Invention and Confidentiality Agreement. Executive agrees that he continues to
be bound by the Employee Invention and Confidentiality Agreement made as of February 8, 2001 between Executive and IUMC (the “Confidentiality Agreement”). Notwithstanding the foregoing, the parties agree that, in light of the
consideration Executive is receiving under this Agreement, Executive shall in no event be eligible to receive any payments pursuant to Section 10 of the Confidentiality Agreement, including but not limited to Special Severance Payments (as
defined therein). In addition, the parties agree that the definition of “Territory” in Section 17.12 thereof shall be deleted and replaced with the following language: “‘Territory’ shall mean every state in which the
Company or any of its direct or indirect subsidiaries operates as of the Date of Termination, which as of October 15, 2010 comprises Connecticut, Massachusetts, Maine, and New York.” 

10. Successors: Binding Agreement. 

10.1. In addition to any obligations imposed by law upon any successor to the Company or IUMC, the Company or IUMC will require any successor
(whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company or IUMC, to expressly assume and agree to perform this Agreement in the same manner and to the
same extent that the Company or IUMC would be required to perform it if no such succession had taken place. 
 10.2. This Agreement shall
inure to the benefit of and be enforceable by the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall die while any amount would still be
payable to the Executive hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the
terms of this Agreement to the executors, personal representatives or administrators of the Executive’s estate. 
 11. Notices.
For the purpose of this Agreement, notices and all other communications provided for in the Agreement shall be in writing and shall be deemed to have been duly given when delivered or mailed by United States registered mail, return receipt
requested, postage prepaid, addressed to the respective addresses set forth below, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notice of change of address shall be effective
only upon actual receipt: 
 To the Company and IUMC: 

Iberdrola USA, Inc. 
 Iberdrola
USA Management Corporation 
 18 Link Drive; P.O. Box 5224 

Binghamton, NY 13902-5224 

Attention: Vice President — Human Resources 

  
 6 

 With a copy to: 

Robert N. Holtzman, Esq. 

Kramer Levin Naftalis & Frankel 

LLP 1177 Avenue of the Americas 

New York, New York 10036 
 To
the Executive: 
 Robert D. Kump 

77 Woodlands Drive 
 Falmouth,
Maine 04105 
 With a copy to: 

Wayne N. Outten, Esq. 

Outten & Golden LLP 
 3
Park Avenue, 29th Floor 
 New York, New York 10016 

12. Miscellaneous. 

12.1. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in
writing and signed by the Executive and such officers as may be specifically designated by the Board. No waiver by any party hereto at any time of any breach by any other party hereto of, or compliance with, any condition or provision of this
Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, with
respect to the subject matter hereof have been made by any party which are not expressly set forth in this Agreement. This Agreement sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein and
supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party hereto; and any prior agreement of the parties hereto
in respect of the subject matter contained herein, except as otherwise specifically provided in this Agreement, is hereby terminated and cancelled. The validity, interpretation, construction and performance of this Agreement shall be governed by the
laws of the State of New York. There shall be withheld from any payments provided for hereunder any amounts required to be withheld under federal, state or local law and any additional withholding amounts to which the Executive has agreed. The
obligations under this Agreement of the Company, IUMC or the Executive which by their nature and terms require satisfaction after the end of the Term shall survive such event and shall remain binding upon such party. 

12.2. References in this Agreement to employee benefit plans, compensation plans, incentive plans, pension plans, disability policies or
similar plans, programs or arrangements of the Company include such plans, programs or arrangements of IUMC if maintained for the benefit of the Company’s executives or employees of IUMC. 

  
 7 

 12.3. This Agreement may be executed in two or more counterparts, each of which shall be deemed
an original, but all of which taken together shall constitute one and the same instrument. Facsimile or electronically transmitted signatures shall be treated as original signatures for all purposes. 

13. Validity. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, which shall remain in full force and effect. 
 14. Settlement of Disputes; Arbitration. All
claims by the Executive, for benefits under this Agreement shall be directed to and determined by the Board and shall be in writing. Any denial by the Board of a claim for benefits under this Agreement shall be delivered to the Executive in writing
and shall set forth the specific reasons for the denial and the specific provisions of this Agreement relied upon. The Board shall afford a reasonable opportunity to the Executive for a review of the decision denying a claim and shall further allow
the Executive to appeal to the Board a decision of the Board within sixty (60) days after notification by the Board that the Executive’s claim has been denied. Any further dispute or controversy arising under or in connection with this
Agreement shall be settled exclusively by arbitration in New York, New York in accordance with the Employment Dispute Resolution rules of the American Arbitration Association then in effect. The arbitrator shall award attorneys’ fees and costs
to the prevailing party in any such arbitration proceeding. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. 

15. Definitions. For purposes of this Agreement, the following terms shall have the meaning indicated below: 

(A) “Base Salary” shall have the meaning stated in Section 5.1 hereof. 

(B) “Board” shall mean the Board of Directors of the Company. 

(C) “Cause” for termination by the Company of the Executive’s employment, for purposes of this Agreement, shall mean
(i) the willful and continued failure by the Executive to substantially perform the Executive’s duties with the Company and IUMC (other than any such failure resulting from the Executive’s incapacity due to physical or mental illness
or Executive’s resignation for Good Reason) after a written demand for substantial performance is delivered to the Executive by the Board, which demand specifically identifies the manner in which the Board believes that the Executive has not
substantially performed the Executive’s duties, or (ii) the willful engaging by the Executive in conduct which is demonstrably and materially injurious to the Company or its subsidiaries, monetarily or otherwise. For purposes of clauses
(i) and (ii) of this definition, no act, or failure to act, on the Executive’s part shall be deemed “willful” unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief that the
Executive’s act, or failure to act, was in the best interest of the Company. 

  
 8 

 (D) “Company” shall mean Iberdrola USA, Inc. and any successor to its business and/or
assets which assumes and agrees to perform this Agreement by operation of law, or otherwise. 
 (E) “Date of Termination” shall
have the meaning stated in Section 8.2 hereof. 
 (F) “Disability” shall be deemed the reason for the termination by the
Company of the Executive’s employment if, as a result of the Executive’s incapacity due to physical or mental illness, the Executive shall have been absent from the full-time performance of the Executive’s duties with the Company and
IUMC for a period of at least four months, the Company shall have thereafter given the Executive a Notice of Termination for Disability, and, within thirty (30) days after such Notice of Termination is given, the Executive shall not have
returned to the full-time performance of the Executive’s duties. 
 (G) “Executive” shall mean the individual named in the
first paragraph of this Agreement. 
 (H) “Good Reason” for termination by the Executive of the Executive’s employment shall
mean the occurrence (without the Executive’s express written consent), of any of the following acts by the Company, unless such act is corrected prior to the Date of Termination specified in the Notice of Termination given in respect thereof:

  

	 	(a)	the removal from Executive of his title of Chief Executive Officer; 

  

	 	(b)	the assignment to Executive of duties, responsibilities, or authorities, or failure to assign to Executive duties, responsibilities, or authorities, consistent with his position as the chief executive officer of the
Company; or 

  

	 	(c)	the Company requires Executive, without his consent, to move his principal office to a location that would cause Executive’s regular commute to be both (i) substantially longer than his commute prior to such
move and (ii) in excess of one hour. 

 (I) “Notice of Termination” shall have the meaning stated in
Section 8.1 hereof. 
 (J) “Term” shall have the meaning stated in Section 3 hereof. 

16. Section 409A of the Code. It is the intention of the parties that this letter comply with the requirements of
Section 409A of the Internal Revenue Code of 1986, as amended, and applicable guidance issued thereunder (“Section 409A”), and this letter will be interpreted in a manner intended to comply with Section 409A. All payments under
this letter are intended to be excluded from the requirements of Section 409A or be payable on a fixed date or schedule in accordance with Section 409A(a)(2)(iv). The Company shall be solely responsible and liable for the satisfaction of
all taxes and penalties that may be imposed on you 

  
 9 

 
in connection with this letter (including any taxes and penalties under Section 409A), and shall indemnify and hold you (or any beneficiary) harmless from any or all of such taxes or
penalties. Notwithstanding anything in this letter to the contrary, in the event that you are deemed to be a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) and you are not “disabled” within the meaning
of Section 409A(a)(2)(C), no payments hereunder that are “deferred compensation” subject to Section 409A shall be made to you prior to the date that is six (6) months after the date of your “separation from
service” (as defined in Section 409A and any Treasury Regulations promulgated thereunder) or, if earlier, your date of death. Following any applicable six (6) month delay, all such delayed payments will be paid in a single lump sum on
the earliest permissible payment date. For purposes of this letter, with respect to payments of any amounts that are considered to be “deferred compensation” subject to Section 409A, references to “termination of employment”
(and substantially similar phrases) shall be interpreted and applied in a manner that is consistent with the requirements of Section 409A. 

[Remainder of the page intentionally left blank.] 

  
 10 

 IN WITNESS WHEREOF, the parties have executed and delivered this Agreement. 

 

			
	IBERDROLA USA, INC.
		
	By:	 	 /s/ Paul K. Connolly, Jr.

	Name:	 	Paul K. Connolly, Jr.
	Title:	 	Vice President, General Counsel, and Secretary
	
	IBERDROLA USA MANAGEMENT CORPORATION
		
	By:	 	 /s/ Paul K. Connolly, Jr.

	Name:	 	Paul K. Connolly, Jr.
	Title:	 	Vice President, General Counsel, and Secretary
	
	EXECUTIVE
	
	 /s/ Robert D. Kump

	Robert D. Kump

  
 11EX-10.24

 EXHIBIT 10.24 

SERVICE CONTRACT 

IBERDROLA USA, INC. 

AND 
 ROBERT D. KUMP

 For the provision of various non executive services 

 SERVICE CONTRACT 

Between 
  

	(1)	IBERDROLA USA, INC., a New York corporation. (hereinafter referred to as the “Company”) 

  

	(2)	ROBERT D. KUMP, of 52 Farm View Drive, New Gloucester, Maine (hereinafter referred to as the “Executive”) 

collectively referred to as the “Parties”. 

WHEREAS:- 
  

	 	(I)	the Executive is skilled and experienced in the provision of services similar to the Services which the Company requires to be performed; and 

 

	 	(II)	in reliance on such skill and experience, and pursuant to approval by the Board dated 16 January 2014, the Company has selected the Executive to provide the Services and the Executive undertakes to provide he
Services on the main terms set out in this Agreement. 

 NOW IT IS HEREBY AGREED between the Company and the Executive as follows: 

 

	1.	INTERPRETATION 

 In this Agreement the following words and expressions shall have the following meanings:- 
  

			
	“Agreement”	  	means this agreement and the 2 schedules attached hereto;
		
	“Board”	  	means the board of directors of lberdrola USA, Inc.;
		
	“CC Terms of Reference”	  	means the terms of reference of the lberdrola USA, Inc. Coordination Committee set out in Schedule 2 of this Agreement and as amended from time to time by the Company;
		
	“Commencement Date”	  	16 January 2014;
		
	“Confidential Information”	  	means information (whether or not recorded in documentary form, or stored on any magnetic

  
 2 

			
		  	or optical disk or memory) relating to the business, products, affairs and finances of the Company or any Group Company for the time being confidential to the Company or any Group Company and trade secrets including, without
limitation, technical data and know- how relating to the business of the Company or any Group Company or any of its or their business contacts;
		
	“Expiration Date”	  	has the meaning set out in clause 2;
		
	“Fee”	  	$120,000 per annum;
		
	“Governance System”	  	means the Corporate Governance System of lberdrola, S.A. and lberdrola USA as amended from time to time;
		
	“Group Company”	  	means the Company, its Subsidiaries or Holding Companies from time to time and any Subsidiary of any Holding Company from time to time;
		
	“Intellectual Property Rights”	  	means all patents, rights to Inventions, copyright and related rights, trademarks, trade names and domain names, rights in get-up, rights in goodwill or to sue for passing off, unfair competition rights, rights in designs, rights
in computer software, database rights, topography rights, rights in confidential information (including know-how and trade secrets) and any other intellectual property rights, in each case whether registered or unregistered and including all
applications (or rights to apply) for, and renewals or extensions of, such rights and all similar or equivalent rights or forms of protection which subsist or will subsist now or in the future In any part of the world;
		
	“Invention”	  	means any invention, idea, discovery, development, improvement or innovation, whether or not patentable or capable of registration, and whether or not recorded in any medium;

  
 3 

			
	“Policies & Procedures”	  	means the lberdrola USA policies and procedures available on the pages of the lberdrola USA Intranet;
		
	“Pre-Contractual Statement”	  	means any undertaking, promise, assurance, statement, representation, warranty or understanding (whether in writing or not) of any person (whether party to this agreement or not) relating to the provision of the Services under
this agreement which is not expressly set out in this agreement or any documents referred to in it;
		
	“Services”	  	shall mean the services set out in schedule 1, including general organizational duties as shall be appointed by the Board, including to receive regular information on the activities of the lberdrola USA group in order to support
the corporate functions and lines of business in understanding the local legal, regulatory and market specifics in the US, to represent the company’s interest and act as a point of contact in the US, and to coordinate the activities of the
lberdrola USA group and its subsidiary companies. The Board, by resolution from time to time, may confer like powers upon any other person or persons.
		
	“Subsidiary & Holding Company”	  	In relation to a company mean “subsidiary” and “holding company.”

  

	2.	COMMENCEMENT AND DURATION 

 This Agreement shall commence on the Commencement Date and,
subject to the remaining terms of this Agreement, shall be for an initial fixed term of twelve (12) months expiring on 16 January 2015 (“Expiration Date”) and shall continue thereafter unless or until terminated by either party
giving the other not less than three (3) months notice in writing, expiring on or after the Expiration Date. 

  
 4 

	3.	PROVISION OF SERVICES 

  

	 	3.1	In consideration of the payment of the Fee, the Executive shall provide the Services to the Company in accordance with the terms of this Agreement. 

 

	 	3.2	In the provision of the Services the Executive will at all times comply with: 

  

	 	(a)	the Coordination Committee Charter; 

  

	 	(b)	the Governance System of the Company or any Group Company; 

  

	 	(c)	any compliance manual of the Company or any Group Company; 

  

	 	(d)	all of the Company’s Policies and Procedures; and 

  

	 	(e)	all applicable law and regulations. 

  

	 	3.3	The Executive will: 

  

	 	(a)	faithfully and diligently perform such Services as may from time to time be assigned to him by the Company; 

  

	 	(b)	comply with all reasonable and lawful directions given to him by the Company; 

  

	 	(c)	promptly make such reports to the Company or the Board in connection with the affairs of the Company or any Group Company on such matters and at such times as are reasonably required; 

 

	 	(d)	use his best endeavors to promote, protect, develop and extend the business of the Company and the Group; and 

  

	 	(e)	report his own wrongdoing and any wrongdoing or proposed wrongdoing of an employee or director of the Company or any Group Company to the Company or the Board immediately on becoming aware of it. 

 

	4.	TIME COMMITMENT 

 The Executive confirms that by entering into the Agreement he will and
is able to allocate sufficient time to meet the expectations of the Company and the Board in relation to the provision of the Services. The Executive must seek prior approval should he wish to accept additional outside commitments that might affect
the time the Executive is able to devote to the Services. 
  

	5.	STATUS AND FEES 

  

	 	5.1	This Agreement does not constitute an offer of employment or an employment contract. It is unrelated to the Executive’s employment with Iberdrola USA Networks, Inc. Nothing in the Agreement shall amend, alter, or
otherwise change Executive’s employment agreement dated October 1, 2010 with Iberdrola USA Networks, Inc. 

  
 5 

	 	5.2	The Fee payable to the Executive for performing the Services is not a salary, and will not be taken into consideration for the purposes of annual bonus, any long term incentive or strategic bonus, or pension benefits
arising from the Executive’s employment with Iberdrola USA Networks. 

  

	6.	CONFLICTS OF INTEREST 

  

	 	6.1.	The Executive must ensure that the protection of commercially sensitive information is maintained at all times during the provision of the Services and in particular compliance with the relevant requirements relating to
business separation as set out in the relevant Compliance requirements, Codes of Conduct, and Standards of Conduct applicable to the regulated business of the Group Companies. 

 

	 	6.2	The Executive will only carry out the Services in relation to the Iberdrola USA group. 

  

	 	6.3	If the Executive becomes aware of any potential conflicts of interest in the future, these should be disclosed to the secretary of the Board as soon as the Executive becomes aware of these. 

 

	7.	CONFIDENTIALITY 

  

	 	7.1	The Executive acknowledges that in the course of the Agreement he will have access to Confidential Information. The Executive has therefore agreed to accept the restrictions in this clause 7. 

 

	 	7.2	The Executive shall not (except in the proper course of the Services), either during the Agreement or at any time after its termination (however arising), use or disclose to any person, company or other organization
whatsoever (and shall use his best endeavors to prevent the publication or disclosure of) any Confidential Information. This shall not apply to: 

  

	 	(a)	any use or disclosure authorized by the Company or required by law; or 

  

	 	(b)	any information which is already in, or comes into, the public domain other than through the Executive’s unauthorized disclosure. 

  
 6 

	8.	INTELLECTUAL PROPERTY 

  

	 	8.1	The Executive agrees that he continues to be bound by the Invention and Confidentiality Agreement referenced in the Executive’s lberdrola USA Networks, Inc. Employment Agreement. 

 

	9.	DATA PROTECTION 

  

	 	9.1	The Executive consents to the Company holding and processing information about the Executive for legal, administrative and management purposes and in particular to the processing of any personal data for compensation
and payment purposes. 

  

	 	9.2	The Executive further consents to the Company making such information available to any of its Group Companies that provide products or services to the Company (such as payroll administrators). 

 

	10.	TERMINATION 

  

	 	10.1	The Company may terminate the Agreement with immediate effect without notice and with no liability to make any further payment of the Fee to the Executive (other than in respect of amounts accrued due at the date of
termination) if the Executive: 

  

	 	(a)	is guilty of a serious breach of the rules or regulations as amended from time to time of any regulatory authority relevant to the Company or any Group Company or any code of practice issued by the Company (as amended
from time to time); 

  

	 	(b)	is guilty of a serious breach of any compliance manual of the Company or any Group Company; 

  

	 	i.	is in breach of the Coordination Committee Terms of Reference, as amended from time to time; 

  

	 	ii.	is in breach of the US Foreign Corrupt Practices Act or the UK Bribery Act 2010 or any breach of the Company’s Anticorruption and Bribery Policy and related procedures; 

 

	 	iii.	fails to report any suspicions or knowledge of breach of the US Foreign Corrupt Practices Act, UK Bribery Act 2010 or the Company’s Anti-corruption and Bribery Policy; 

 

	 	iv.	is guilty of any gross misconduct affecting the business of the Company or any Group Company; 

  
 7 

	 	v.	commits any serious or repeated breach or nonobservance of any of the provisions of this agreement or refuses or neglects to comply with any reasonable and lawful directions of the Company; 

 

	 	vi.	is, in the reasonable opinion of the Company, negligent and incompetent in the performance of the Services; 

  

	 	vii.	Is declared bankrupt or makes any arrangement with or for the benefit of his creditors; 

  

	 	viii.	is convicted of any felony criminal offence; 

  

	 	ix.	is guilty of any fraud or dishonesty or acts in any manner which in the opinion of the Company brings or is likely to bring the Executive or the Company or any Group Company into disrepute or is materially adverse to
the interests of the Company or any Group Company; or 

  

	 	x.	is guilty of a serious breach of any rules issued by the Company from time to time regarding its electronic communications systems. 

  

	 	10.2	The rights of the Company under clause 10.1 are without prejudice to any other rights that it might have at law to terminate the Agreement or to accept any breach of this Agreement by the Executive as having brought the
Agreement to an end, Any delay by the Company in exercising its rights to terminate shall not constitute a waiver thereof. 

  

	 	10.3	Save for the provisions set out in clause 10.1 and in accordance with clause 2, the Company may terminate the Agreement by giving three (3) months prior written notice. On notice of termination of the Agreement
being given, the Company may require the Executive to cease the Services with immediate effect, However the Executive will remain entitled to the Fee as normal up to the formal date of termination of the Agreement, together with reimbursement of any
expenses properly incurred prior to that date. 

  

	11.	NOTICES 

  

	 	11.1	A notice given to a party under this Agreement shall be in writing in the English language and signed by or on behalf of the party giving it. It shall be delivered by hand or sent to the party at the address given in
this agreement or as otherwise notified in writing to the other party, 

  

	 	11.2	Any such notice shall be deemed to have been received: 

  

	 	(a)	if delivered by hand, at the time the notice is left at the address or given to the addressee; 

  
 8 

	 	(b)	in the case of pre-paid first class US post or other next working day delivery service, at 9:00 am on the second business day after posting or at the time recorded by the delivery service. 

 

	 	11.3	A notice shall have effect from the earlier of Its actual or deemed receipt by the addressee. For the purpose of calculating deemed receipt: 

  
 9 

	
	Date:                     
	
	 /s/ Ignacio Galan

	    Authorized Signatory
	
	Date:
	
	 /s/ Robert D. Kump

	    Executive

  
 10 

 THESE ARE THE SCHEDULES REFERRED TO IN THE FORGOING SERVICES CONTRACT BETWEEN IBERDROLA USA AND
ROBERT D. KUMP 
 SCHEDULE 1 

SERVICES 
  

	1.	Functions 

  
  

 

	 	1.1	The Executive will provide the Services to the Company as Chief Corporate Officer of the Company. 

  

	 	1.2	The Executive will provide the Services with assistance from the Company’s Coordination Committee. 

  

	 	1.3	The Executive must comply with the Coordination Committee Charter (attached at Schedule 2 to this Agreement) in the performance of the Services. 

 

	 	1.4	The functions of the Service will be non-executive, informative and coordinative in nature and will include: 

  

	 	•	 	obtaining access to and positively influencing the relevant regulatory and policy making bodies in the US; 

  

	 	•	 	to receive regular information on the activities of the lberdrola USA group in order to support the corporate functions and lines of business in understanding the local legal, regulatory and market specifics in the US;

  

	 	•	 	to represent the company’s interests and act as a point of contact in front of key stakeholders; employees, customers, regulatory bodies, media policy makers and other relevant organizations; 

 

	 	•	 	to contribute to the Company’s external projection with a positive impact on corporate image and reputation; 

  

	 	•	 	under the auspices of the Coordination Committee, a non-executive body, the Executive will carry out his functions in accordance with the lberdrola USA Governance Structure, including the Coordination Committee Charter;

  
 11 

	 	•	 	to coordinate the activities of the lberdrola USA group and its subsidiary companies; and to receive regular information on the activities of the lberdrola USA group to support the corporate functions and lines of
business in understanding the local legal, regulatory and market specifics in the United States. 

  

 
  

	2.	Scope of Functions 

  

	 	•	 	the Executive shall at all times ensure the protection of commercially sensitive information and in particular he must attain the objectives and comply with the relevant requirements relating to business separation as
set out in applicable law, regulations and the lberdrola governance documents. 

  
 12 

 SCHEDULE 2 

IUSA COORDINATION COMMITTEE CHARTER 

CHAPTER 1- NATURE. PURPOSE AND APPROVAL OF THE CHARTER 

Article 1.- Nature and Purpose of the Charter 
  

	 	1.	lberdrola USA, Inc. and its subsidiary companies (hereinafter, the Iberdrola USA group’), have established the lberdrola USA Coordination Committee (hereinafter, the “Committee”), a permanent
internal body, without executive functions, having an informative and coordinating role, for the activities of the lberdrola USA group. The Committee shall be governed by this Charter. 

 

	 	2.	This Charter sets out the principles of action and the internal operational regime of the Committee. 

Article 2.- Approval: modification 
  

	 	1.	This Charter must be approved by a resolution of the Board of Directors of lberdrola USA, Inc ( the ‘Board’) 

  

	 	2.	Further to the proposal of either the Chairman of the Committee or the majority of its members, this Charter may be modified by means of resolution of the Board. 

CHAPTER II.- MEMBERSHIP AND FUNCTIONS OF THE COMMITTEE 

Article 3.- Membership; Purpose of the Committee 
  

	 	1.	The Committee shall consist of the following individuals:- 

Chief Corporate Officer 
 Chief
Executive Officer, Networks Business 
 Chief Executive Officer, Liberalised Business 

Chief Executive Officer, Renewables Business 

Head of Legal & General Secretary 

and other corporate function representatives who could be appointed by the Board 

The Committee shall have a chairman (the “Chairman”) who will be the Chief Corporate Officer and a secretary, the latter being the secretary
of the Board. 

  
 13 

 Article 4.- Functions 

The Committee shall have the following functions: 
  

	 	(i)	To coordinate the activities of the lberdrola USA group. 

  

	 	(ii)	To receive regular information on the activities of the lberdrola USA group to support the corporate functions and lines of business in understanding the local legal, regulatory and market specifics in the United States
of America. 

  

	 	(iii)	To assist and support the Chief Corporate Officer, to effectively represent the lberdrola USA group interests and act as a point of contact in front of the key stakeholders in the United States of America; employees,
customers, regulatory bodies, media, government and other relevant bodies. 

  

	 	(iv)	To assist and support the Chief Corporate Officer, to represent and contribute to the lberdrola USA group’s external projection, to achieve a positive impact on its corporate image and reputation.

 Article 5.- Scope of Functions 
  

	 	1.	In carrying out its functions the Committee shall at all times ensure the protection of commercially sensitive information and in particular the members of the Committee must attain the objectives and comply with the
relevant requirements relating to business separation of regulated and deregulated activities. 

  

	 	2.	The Committee will only carry out its function in relation to the lberdrola USA group and shall under no circumstances be concerned with or discuss matters relating to any other affiliated companies. 

Article 6.- Appointment 
  

	 	1.	The members of the Committee, as well as the Chairman, shall be appointed by the Board. 

  

	 	2.	The members of the Committee shall exercise this office while their appointment in their current roles continues in force, unless the Board agrees otherwise. 

  
 14 

 Article 7.- Meetings of the Committee 

 

	 	1.	The Committee shall meet as many times as is considered necessary in the opinion of the Chairman to comply with its functions. 

  

	 	2.	The meetings of the Committee shall always take place in the United States of America and may be held by telepresence, telephone conference, call or by video conference call. 

 

	 	3.	The Chairman, or the secretary of the Committee at the request of the former, may call a meeting of the Committee by means of a letter, fax, telegram, email or any other means, addressed to each of its members,
indicating the place, date and time of the meeting, as well as the agenda to be followed. 

 Article 8.- Quorum, Attendance 

 

	 	1.	The Committee shall be quorate when at least two (2) of its members are present or duly represented. 

  

	 	2.	Meetings of the Committee shall be presided over by the Chairman, who will be assisted by the secretary or vice secretary. 

  

	 	3.	The Committee, to assist in the fulfilment of its functions, may also request, through the Secretary the attendance at a meeting of the Committee of any director, manager or employee of the lberdrola USA group, provided
that there is no legal impediment thereto. 

 Article 9.- Compliance 

 

	 	1.	The members of the Committee have the obligation to be aware of and comply with this Charter, for which purpose the secretary shall provide all of them with a copy. 

 

	 	2.	Additionally, the Committee, in particular the Chairman, shall have the obligation to oversee compliance with this Charter, adopting any measures necessary for such purpose. 

  
 15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}]]