Document:

Exhibit 10.2

                                    LES BATES

                              EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT (the "Agreement"), effective as of the 1st day of
July 2008, is between New Frontier Energy, Inc., a Colorado corporation with its
principal place of business located at 1789 W. Littleton Blvd., Littleton,
Colorado 80120 (the "Company") and Les Bates (the "Employee").

                                    RECITALS

     A.   The Company desires to be assured of the association and services of
          Employee for the Company.

     B.   Employee is willing and desires to be employed by the Company, and the
          Company is willing to employ Employee, upon the terms, covenants and
          conditions hereinafter set forth.

     C.   The Employee and the Company wish to cancel the employment agreement
          dated August 1, 2006 (the "Previous Employment Agreement") in its
          entirety and substitute this Agreement.

     NOW THEREFORE, in consideration of the Recitals and the mutual covenants,
promises, agreements, representations and warranties contained in this
Agreement, the parties hereby accept employment on the terms and conditions
hereinafter set forth.

     1. Employment. The Company hereby employs Employee as its
Secretary/Treasurer, Principal Accounting Officer and Chief Financial Officer of
the Company.

     2. Term. The term of this Agreement shall be for a period of three (3)
years effective as of July 1, 2008 and ending on June 30, 2011 (the "Initial
Term"), unless terminated earlier pursuant to Section 10 below; provided,
however, that Employee's obligations in Section 11 below shall continue in
effect after such termination. This Agreement shall be automatically renewed for
successive one-year periods (the "Renewal Term") unless, at least 60 days prior
to the expiration of the Initial Term or any Renewal Term, either party gives
written notice to the other party specifically electing to terminate this
Agreement at the end of the Initial Term or any such Renewal Term.

<PAGE>
     3. Compensation.

     (a) Base Salary. For all services rendered by Employee under this
Agreement, the Company shall pay Employee a base salary of Two Hundred Thousand
Dollars ($200,000) per year (the "Base Salary"). The Base Salary shall be
payable in equal, consecutive monthly installments. Payment of the Salary shall
be subject to the customary withholding tax and other employment taxes as
required with respect to compensation paid by a corporation to an employee. It
is expressly understood and agreed that the Base Salary may be increased upon
the approval of the Company's Compensation Committee (if such a committee
exists) or of the Board of Directors. Furthermore, the Base Salary shall be
increased, effective on the 1st day of July of each year, beginning on July 1,
2009, for increases in the cost of living, based either on (i) inflation as
measured the federal Consumer Price Index ("CPI"), or (ii) Ten Thousand Dollars
($10,000) per year, whichever is greater. To determine the amount of the
increase in Base Salary using the CPI method, the Base Salary shall be
multiplied by a fraction, the numerator of which shall be the CPI most recently
published on the month immediately preceding the date of the Base Salary
adjustment, and the denominator of which shall be the CPI in effect on the last
day in June of the immediately preceding year. The term "Base Salary" as used
herein shall refer to the Base Salary, as adjusted.

     (b) Bonus. In addition to the Base Salary, the Company shall pay Employee
such Bonus or Bonuses as the Board of Directors shall determine in their sole
discretion.

     4. Reimbursement. The Employee is authorized to incur reasonable expenses
for promoting the business of the Company, including his out-of-pocket expenses
for entertainment, travel and similar items. The Company shall reimburse the
Employee for all such expenses on the presentation by the Employee, from time to
time, of an itemized account of such expenditures in accordance with the
guidelines set forth by the Internal Revenue Service for travel and
entertainment.

     5. Duties. Employee is engaged as the Secretary/Treasurer, Principal
Accounting Officer and Chief Financial Officer of the Company. Employees' duties
shall include, but not be limited to those duties that are generally associated
with the positions of Secretary/Treasurer, Principal Accounting Officer and
Chief Financial Officer of a company similarly situated to the Company.

     6. Employee's Devotion of Time. Employee shall devote such productive time,
ability, and attention to the business of the Company during the term of this
agreement, as employee deems necessary to accomplish the duties assigned to him
and to the promotion and forwarding of the business affairs of the Company, and
not to divert any business opportunities from the Company to himself or to any
other person or business entity. Such services shall be rendered at such other
place or places as the Company shall in good faith require or as the interest,
needs, business or opportunity of the Company shall require. The Company
understands that Employee has other commitments and will not function
exclusively as the Company's employee; however, it is expected that the Employee
will devote significant time to the business of the Company.

     7. Benefits. The Employee shall be entitled to receive any and all health,
insurance, disability or any other benefit, if and when a plan is adopted by the
Board of Directors for the benefit of its employees.

<PAGE>

     8. Vacation. The Employee shall be entitled each year to a vacation of a
reasonable amount during which time his compensation shall be paid in full.

     9. Change of Control. If any time during the Initial Term or any Renewal
Term of this Agreement there is a Change of Control of the Company, as defined
below, and Employee's employment is terminated by the Company under Section
10.1(a), (b), (d) or (e) within the greater of one (1) year following the change
of control or the remaining term of this Agreement (the "Change of Control
Date"), the Company shall pay to Employee (a) the balance of all amounts due
under this Agreement from the date of the Change of Control until the end of the
Initial Term plus (b) an amount equal to 2.99 times the sum of (i) his annual
Base Salary as in effect on the date of termination plus (ii) the amount of
bonus paid in the prior year to Employee either pursuant to this Agreement or
the Previous Employment Agreement, and (c) any other amounts due to Employee
under any other provision of this Agreement. This amount shall be paid to
Employee in one lump sum as soon as practicable, but in no event later than one
hundred twenty (120) days, after the date that Employee's employment is
terminated. In addition to the lump sum payment referenced in the preceding
sentence, the Company shall pay to Employee any accrued and unpaid bonuses as
provided for in Section 3(b) at the same time as the lump sum payment is made.
Additionally, the Company will maintain and pay for Employee's health benefits
for the remaining Initial Term or the then in effect Renewal Term of this
Agreement. For example, if the Change of Control Date was July 1, 2008, the
amount paid to would be equal to [$200,000 (Base Salary) + $0 (Bonus)] X 3
(years remaining on contract)] + [$200,000 (Base Salary) + $180,000 (Bonus paid
during fiscal year ended February 28, 2008) X 2.99] or an aggregate of
$1,736,200).

     If any payment or distribution by the Company to Employee is determined to
be subject to the excise tax imposed by Section 4999 of the Internal Revenue
Code, Employee is entitled to receive a payment on an after-tax basis equal to
the excise tax imposed. Employee is under no obligation to mitigate amounts
payable under these agreements.

     For purposes of this subsection, a change of control shall mean the
occurrence of one or more of the following three events:

     (1)  After the effective date of this Agreement, any person becomes a
          beneficial owner (as such term is defined in Rule 13d-3 promulgated
          under the Securities Exchange Act of 1934, as amended) directly or
          indirectly of securities representing 33% or more of the total number
          of votes that may be cast for the election of directors of the
          Company, provided however, that this provision shall not be applicable
          to Iris Energy Holdings Limited and its affiliates if, as a result of
          the conversion of any shares of the Company's 2.5% Series C Preferred
          Stock, or the exercise of the Company's AC Warrants or BC Warrants
          owned by Iris Energy Holdings Limited and its affiliates, Iris Energy
          Holdings Limited and its affiliates collectively become the beneficial
          owner directly or indirectly of securities representing 33% or more of
          the total number of votes that may be cast for the election of
          directors of the Company unless within one year following the
          acquisition of 33% or more of the total number of votes that may be
          cast for the election of directors of the Company by Iris Energy
          Holdings Limited and its affiliates, the individuals who were
          directors of the Company immediately prior thereto shall cease to
          constitute a majority of the Board of Directors;

<PAGE>

     (2)  Within one year after a merger, consolidation, liquidation or sale of
          assets involving the Company, or a contested election of a Company
          director, or any combination of the foregoing, the individuals who
          were directors of the Company immediately prior thereto shall cease to
          constitute a majority of the Board of Directors; or

     (3)  Within one year after a tender offer or exchange offer for voting
          securities of the Company, the individuals who were directors of the
          Company immediately prior thereto shall cease to constitute a majority
          of the Board of Directors.

     10.1 Termination and Bases for Termination.

     (a) Employee's employment hereunder may be terminated at any time by mutual
agreement of the parties.

     (b) Should the Employee, by reason of illness or incapacity, be unable to
perform his job for a period of up to and including a maximum of two (2) months,
the compensation payable for and during such period under this Agreement shall
be unabated. The Board of Directors shall have the right to determine the
incapacity of the Employee for the purposes of this provision, and any such
determination shall be evidenced by its written opinion delivered to the
Employee. Such written opinion shall specify with particularity the reasons
supporting such opinion and be manually signed by at least a majority of the
Board. Should the Board of Directors determine the Employee incapable of the
performance of his duties, the Employee's compensation thereafter shall be
terminated.

     The Employee shall begin to receive full compensation pursuant to Section 3
of this Agreement upon his return to employment and regular discharge of his
full duties hereunder. Should the Employee be absent from his employment for
whatever cause for a continuous period of more than 180 calendar days, the
Company may terminate this Agreement and all obligations of the Company
hereunder shall cease upon such termination.

     (c) Employee's employment may be terminated by the Company "with cause,"
effective upon delivery of written notice to Employee given at any time (without
any necessity for prior notice) if any of the following shall occur:

<PAGE>
          (1) any action by Employee which would be grounds for termination
     under applicable law (currently covering any willful breach of duty, and
     habitual neglect of duty);

          (2) any material breach of Executive's obligations under this
     Agreement other than any such breach resulting from illness or incapacity
     or

          (3) any material acts or events which inhibit Employee from fully
     performing his responsibilities to the Company in good faith, such as (i) a
     felony criminal conviction; (ii) any other criminal conviction involving
     Employee's lack of honesty or Employee's moral turpitude; (iii) drug or
     alcohol abuse; or (iv) acts of dishonesty, gross carelessness or gross
     misconduct.

     (d) Employee's employment may be terminated by the Company "without cause"
(for any reason or no reason at all) at any time by giving Employee 60 days
prior written notice of termination, which termination shall be effective on the
60th day following such notice. If Employee's employment under this Agreement is
so terminated, the Company shall (i) make a lump sum cash payment to Employee
within 10 days after termination is effective of an amount equal to (1)
Employee's Base Salary accrued to the date of termination; (2) unreimbursed
expenses accrued to the date of termination; (3) an amount equal to the greater
of (a) Employee's annual Base Salary (i.e., 12 months of Base Salary), or (b)
amounts remaining due to Employee as Base Salary (assuming that payments under
this Agreement were made until expiration of the Initial Term or if applicable
the Renewal Term), and (4) any other amounts due to Employee under any other
provision of this Agreement. For purposes of this provision, Employee's annual
Base Salary and the remaining portion of the term of the Agreement shall be
calculated as of the termination date. After the Company's termination of
Employee under this provision, the Company shall not be obligated to provide the
benefits to Employee described in Section 3 (except as may be required by law).
In addition to the lump sum payment referenced in this section, the Company
shall pay to Employee the Bonus provided for in Section 3(b) based upon the
number of days in the year that Employee was employed by the Company, within one
hundred twenty days after the end of the fiscal year in which Employee was
terminated.

     (e) Employee may terminate his employment hereunder by giving the Company
60 days prior written notice, which termination shall be effective on the 60th
day following such notice. The Company shall not be obligated to compensate
Employee, his estate or representatives after any such termination. Further,
Employee shall not be entitled to any of the benefits described in Section 3
(except as provided by law) after such termination.

     10.2 Payment Upon Termination. Upon termination under Sections 10.1(a),
(b), (c) or (e), the Company shall pay to Employee within 10 days after
termination an amount equal to the sum of (1) Employee's Base Salary accrued to
the date of termination; (2) unreimbursed expenses accrued to the date of
termination, and (3) any other amounts due to Employee under any other provision
of this Agreement. The Company shall not be obligated to compensate Employee,
his estate or representatives after any such termination. Further, Employee
shall not be entitled to any of the benefits described in Section 3 (except as
provided by law) after such termination.

<PAGE>

     10.3 Dismissal from Premises. At the Company's option, Employee shall
immediately leave the Company's premises on the date notice of termination is
given by either Employee or the Company.

     11. Confidential Information. During the term of this Agreement, the
Employee will have access to certain confidential information and materials,
including but not limited to oil and gas property and lease information,
originated by the Company or disclosed to the Company by others under agreements
to hold the same confidential ("Confidential Information"). Confidential
Information further includes, but is not limited to, all technical, engineering,
property and lease information, financial, business practices, customer lists,
customer identities and commercial information heretofore or hereafter disclosed
or transmitted by the Company in any form and manner to the Employee or
otherwise received by the Employee, whether orally or in writing. Employee
acknowledges that Employee shall not either directly or indirectly use, disclose
or communicate to any person or entity any Confidential Information for any
purpose at all whether during or after the term of this Agreement, except to the
extent any such information becomes generally known to the public through no
fault of Employee. Furthermore, the terms of this provision shall survive the
Term or any Renewal Term of this Agreement, or any termination thereof will
expire two years from the termination of this agreement.

     12. Miscellaneous.

     (a) Entire Agreement. This Agreement contains the entire agreement between
the Company and the Employee, regarding employment of the Employee. This
Agreement shall not be modified except by written agreement signed by both
parties.

     (b) Headings. The subject headings of the articles and sections contained
in this Agreement are included for convenience purposes only and shall not
control or affect the meaning, construction or interpretation of any provision
hereof.

     (c) Assigns. This Agreement shall be binding upon the Company and Employee,
their respective heirs, executors, legal representatives, successors and
assigns.

     (d) Notices. All notices, demands, elections, opinions or requests (however
characterized or described) required or authorized hereunder shall be deemed
given sufficiently if in writing and sent by overnight courier or by registered
or certified mail, return receipt requested and postage prepaid, in the case of
the Company:

<PAGE>

                  New Frontier Energy, Inc.
                  1789 W. Littleton Blvd
                  Littleton, CO 80120

and in the case of the Employee:

                  Les Bates
                  6909 E. Fremont Avenue
                  Centennial, CO 80112

     (e) Remedies. Employee acknowledges that any failure to carry out an
obligation under this Agreement, or a breach by the Employee of any provision
herein, will constitute immediate and irreparable damage to the Company, which
cannot be fully and adequately compensated in money damages and which will
warrant preliminary and other injunctive relief, an order for specific
performance, and other equitable relief. Employee also understands that other
actions may be taken and remedies enforced against the Employee, including
termination of any other agreements the Employee may have with the Company.

     (f) Waiver and Severability. No waiver by either party of any breach or
default hereof by the other shall be deemed to be a waiver of any preceding or
succeeding breach or default hereof, and no waiver shall be operative unless the
same shall be in writing. Should any provision of this Agreement be declared
invalid by a court of competent jurisdiction, the remaining provisions hereof
shall remain in full force and effect regardless of such declaration.

     (g) This Agreement shall be subject to the exclusive jurisdiction of the
courts in Arapahoe County in the State of Colorado. The parties to this
Agreement agree that any breach of any term or condition of this Agreement shall
be deemed to be a breach occurring in the State of Colorado by virtue of a
failure to perform an act required to be performed in the State of Colorado and
irrevocably and expressly agree to submit to the jurisdiction of the courts in
Arapahoe County in the State of Colorado for the purpose of resolving any
disputes among the parties relating to this Agreement or the transactions
contemplated hereby. The parties irrevocably waive, to the fullest extent
permitted by law, any objection which they may now or hereafter have to the
laying of venue of any suit, action or proceeding arising out of or relating to
this Agreement, or any judgment entered by any court in respect hereof brought
in the State of Colorado, and further irrevocably waive any claim that any suit,
action or proceeding brought in the State of Colorado has been brought in an
inconvenient forum.

     (h) Counterparts. This Agreement may be executed in several counterparts,
and as to executed shall constitute one Agreement, binding on all parties
hereto, notwithstanding that all parties are not signatory as to other original
or the same counterpart. Facsimile signatures are acceptable.

     (i) Time. Time is of the essence.

<PAGE>

     (j) Governing Law. This Agreement has been entered into and shall be
construed and enforced in accordance with the laws of the State of Colorado,
without reference to the choice of law principles thereof.

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<PAGE>

     IN WITNESS WHEREOF, the parties have executed this Agreement effective on
the day and year first above written.

THE COMPANY:                                      THE EMPLOYEE:

NEW FRONTIER ENERGY, INC.

By: /s/ Paul G. Laird                             /s/ Les Bates
    ------------------------                      ---------------------------
    Paul G. Laird, President                      Les Bates

<PAGE>uil_exh10-14a.htm

    EXHIBIT
10.14a

    

    FIRST
AMENDMENT

    TO

    EMPLOYMENT
AGREEMENT

    

    This amendment (the “First Amendment”)
is made the 4th day of August, 2008, between The United Illuminating Company, a
Connecticut Corporation (the “Company”), and Richard J. Nicholas (the
“Executive”).

    

    WHEREAS, the Company previously entered
into an Employment Agreement with the Executive dated as of March 1, 2005 (the
“Agreement”); and

    

    WHEREAS, in light of changes to the law
concerning severance and deferred compensation, including Internal Revenue Code
Section 409A and related Treasury Regulations, the Company and the Executive
wish to further amend the Agreement by this First Amendment to clarify certain
provisions in the event the Executive’s employment is involuntarily terminated,
and to make other minor, clarifying revisions to the Agreement,

    

    NOW THEREFORE, the following Sections
of the Agreement are hereby amended as follows:

    

    1. The third
sentence of Section (1)(b) of the Agreement is deleted.

    

    2. The
second sentence of Section (2)(c) of the Agreement is revised to read as
follows:

    

    In the
event that the Executive’s employment is not so continued, the Executive may be
eligible for benefits on account of a Constructive Termination in accordance
with the terms of the UIL CIC Plan II.

    

    3. The third
paragraph of Section (4)(b) of the Agreement is revised to read as
follows:

    

    The
Executive’s “Stub-Period
Incentive Compensation” shall mean the annual short-term incentive
compensation being earned in the year in which the Executive terminates
employment, pro-rated for the year in which he terminates service, and shall be
equal to that short-term annual incentive compensation payment to which the
Executive would be entitled, if any, under the terms of the Company’s executive
incentive compensation plan, calculated as if he had been employed by the
Company on the last day of the year including his Date of Termination, based on
actual performance with respect to the achievement of UIL and Company goals
(collectively referred to as “Company goals”), multiplied by a fraction, the
numerator of which is the number of days which have elapsed in such year through
the Date of Termination and the denominator of which is 365.  UIL
shall determine in its discretion the composition of the Executive’s
scorecard.  In the event that the ‘gate’, if any, is not achieved with
respect to Company goals, then no Stub-Period Incentive Compensation will be
paid.  Any Stub-Period Incentive Compensation payable upon termination
of the Executive shall be paid in accordance with Section (6)(e) of this
Agreement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    4. Section
(5)(d) of the Agreement is hereby revised in its entirety to provide as
follows:

    

    (d)  Termination
by Executive.

    

    (i)  Breach by the Company, not
during Change of Control Protective Period.  If the Executive
is not in default of any of the Executive’s obligations under Section (2), (9),
(10), (11) or (12) hereof, the Executive may terminate employment hereunder on
account of a Constructive Termination in accordance with this Section
(5)(d)(i).  For purposes of this Agreement, a Constructive Termination
means:

    

    (1)  a
Separation from Service (as defined for purposes of the UIL CIC Plan II) within
ninety (90) days of the initial occurrence of one of the following events
arising without the consent of the Executive (a “Constructive Termination
Event”):

    

    (A) 
A material diminution in the Executive’s annual base salary rate, unless such
reduction is part of, and consistent with, a general reduction of the
compensation rates of all employees of the Company or of the Executive’s
business unit;

    

    (B)  Except
as provided in Section (2)(b), a material diminution in the Executive’s
authority, duties, or responsibilities, including the assignment of duties
materially inconsistent in any adverse respect with such Executive’s position,
duties, responsibilities and status with the Company immediately prior thereto,
or diminishment in such Executive’s management responsibilities, duties or
powers as in effect immediately prior thereto, or the removal from or failure to
re-elect such Executive to any such position or office;

    

    (C)
 A requirement that the Executive relocate his principal place of
employment by more than fifty (50) miles from the Company’s current executive
offices in New Haven, Connecticut; or

    

    (D) 
Any other action or inaction that constitutes a material breach by the Company
of the Agreement, including (1) a failure to include the Executive in the
management salary compensation programs then in effect on substantially the same
terms and conditions as that applicable to the other officers or similarly
situated executives of the Company; (2) a failure to continue the Executive’s
participation in the material benefit plans of the Company on substantially the
same basis, both in terms of the amount of benefits provided (other than due to
the Company’s stock price performance, provided such performance is a relevant
criterion in determining the amount of benefits) and the level of the
Executive’s participation relative to other officers or similarly

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    situated
executives of such Company, as that in effect immediately prior thereto; or
(3) a failure to renew the Executive’s Employment Agreement at the time such
Agreement expires, provided that the Executive was willing and able to execute a
new Agreement providing terms and conditions substantially similar to those in
the expiring Agreement and to continue working for the Company; and

    

    (2)  The
Executive has given notice to the UIL Board stating that in the Executive’s
opinion at least one of the Constructive Termination Events has occurred and
setting forth in reasonable detail the relevant facts, and such notice was given
within thirty-one (31) days of the occurrence of the Constructive Termination
Event; and

    

    (3)  The
Company shall have failed to remedy or otherwise cure the situation within
thirty-one (31) days after receipt of the notice.

    

    (ii)  Breach by the Company,
during Change of Control Protective Period.  If the Executive
is not in default of any of the Executive’s obligations under Section (2), (9),
(10), (11) or (12) hereof, the Executive may terminate employment hereunder on
account of a Constructive Termination in accordance with the UIL CIC Plan
II.

    

    (iii)  In the absence of Breach by
the Company.  If the Executive is not in default of any of the
Executive’s obligations under Section (2), (9), (10), (11) or (12) hereof, the
Executive may terminate employment in the absence of a Breach by the Company,
effective upon at least ninety (90) days prior written notice.

    

    5. The
initial paragraph of Section (6)(c) of the Agreement is hereby revised to
provide as follows:

    

    (c)  Upon
Termination Without Cause or a Constructive Termination prior to a Change in
Control.  If the Company
terminates the Executive’s employment hereunder without Cause or if the
Executive terminates the Executive’s employment hereunder on account of a
Constructive Termination, and in either case the termination constitutes an
Involuntary Separation from Service within the meaning of Treasury Regulations
Section 1.409A-1(n) and is not upon a Change in Control or within the Change in
Control Protective Period, the Company shall pay or provide (as applicable) to
the Executive, all of the following:

    

    6. Subsection
(6)(c)(v) of the Agreement is hereby revised in its entirety to read as
follows:

    

    (v)  benefits under the
Company’s health care plans during the COBRA continuation period on the same
terms as are then available to active employees of the Company.

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
       

      7. Subsection
(6)(c)(vi) of the Agreement is hereby revised in its entirety to read as
follows:

    

     

    (vi)  the addition of two (2)
years of service deemed as an Employee of the Company in the calculation of the
entitlement to and benefits payable under the Company’s retiree medical benefit
plan.

    

    8. New
Subsection (6)(c)(vii) of the Agreement is hereby added, to read as
follows:

    

    (vii)  a supplemental lump
sum payment that is actuarially equivalent to the amount by which the value of
the Executive’s accrued benefit under The United Illuminating Company Pension
Plan would have increased had the Executive been credited with two (2)
additional years of credited service for purposes of calculation of benefits
payable under the Pension Plan.

    

    9. Subsection
(6)(d) of the Agreement is hereby revised in its entirety to provide as
follows:

    

    (d)  Separation
from Service.  Notwithstanding
anything herein to the contrary, no compensation constituting severance or
deferred compensation shall be paid under this Agreement upon a termination of
employment or termination of service unless such termination of employment or
termination of service constitutes a Separation from Service as defined in the
UIL CIC Plan II.

    

    10. Subsection
(6)(e) of the Agreement is hereby revised in its entirety to provide as
follows:

    

    (e)  Timing of
Payment.  Any cash amount
that is due and owing to the Executive upon a termination of service pursuant to
Section (6) or Section (7) (other than pursuant to the UIL CIC Plan II)
will be paid on the thirtieth (30th) day
following the Executive’s Separation from Service and in no event may the
Executive designate the timing or year of payment.  Notwithstanding
the foregoing, however, (i) any Stub-Period Incentive Compensation shall be
calculated in accordance with the terms of the applicable plan or program and
such incentive compensation and that portion of any severance payment that is
based on such incentive compensation shall be paid at the same time that such
incentive compensation generally would be payable to all other employees, but in
no event later than March 15th of the
calendar year following the end of the performance period to which such
incentive compensation relates; (ii) any long-term incentive compensation shall
be calculated in accordance with the terms of the applicable plan or program and
such incentive compensation shall be paid at the same time that such incentive
compensation generally would be payable to all other employees, but in no event
later than March 15th of the
calendar year following the end of the performance period to which such
compensation relates; and (iii) any qualified or non-qualified deferred
compensation payable pursuant to the terms of a plan of the Company shall be
paid in accordance with the terms of the applicable plan.

    

    11. The first
paragraph of Section (7)(a) of the Employment Agreement is hereby revised in its
entirety to provide as follows:

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    (7)           CHANGE
IN CONTROL

    

    (a)  If on, or within
twenty-four (24) months following, a Change in Control, the Company (or its
successor or other entity employing the Executive following such Change in
Control) either terminates the Executive’s employment hereunder without Cause or
fails to renew this Agreement on substantially identical terms, or if the
Executive terminates the Executive’s employment on account of a Constructive
Termination (as defined in the UIL CIC Plan II), and in any such case the
termination constitutes an Involuntary Separation from Service within the
meaning of Treasury Regulations Section 1.409A-1(n), then the Executive shall be
entitled to the following:

    

    12. Subsection
(7)(a)(iv) of the Agreement (including the second, flush paragraph thereof) is
hereby revised in its entirety to provide as follows:

    

    (iv) those payments, and benefits, if
any, to which the Executive is entitled by reason of having been designated a
Participant in the UIL CIC Plan II.  The severance payments, pension
supplements and other benefit provisions under the UIL CIC Plan II shall be
controlling and shall supplant the payments and benefits to which the Executive
would be otherwise be entitled under Section (6)(c)(iv), (v), (vi) and (vii) of
this Agreement; expressly provided, however, that if the severance benefit
provided for in Section (6)(c)(iv), taking into account Section (11)(b) of this
Agreement, exceeds the value of the analogous severance benefit provided under
the UIL CIC Plan II, then the amount of the severance benefit paid under the UIL
CIC Plan II shall be determined as provided in Section (6)(c)(iv), taking into
account Section (11)(b) of this Agreement.

    

    13. Section
(9) of the Agreement is revised in its entirety to read as follows:

    

    (9)           GROSS UP FOR EXCISE
TAX.

    

    Notwithstanding anything to the
contrary in the UIL CIC Plan II, and conditioned upon the Executive
providing the release called for in Section (6)(f) and complying with the
confidentiality and non-compete provisions of this Agreement, in the event that
it shall be determined that any payment made and benefits provided by the
Company or UIL to or for the Executive, whether paid or payable or distributed
or distributable pursuant to the terms of this Agreement, the UIL CIC Plan II or
otherwise, would constitute an “excess parachute payment” within the meaning of
Section 280G of the Internal Revenue Code subject to an excise tax under Code
Section 4999 (or any successor provisions) (the “Excise Tax”), the Executive
shall be paid an additional amount (the “Gross-Up Payment”) which shall be
calculated as the amount needed to reimburse the Executive for the Excise Tax
and the additional excise, income and employment taxes imposed on the Executive
due to the Company’s payment of the Excise Tax, so that the net amount retained
by Executive after deduction of any Excise Tax, and any federal, state and local
income and employment tax (including any Excise Tax imposed upon the Gross-Up
Payment itself) shall be equal to the total amount of all payments and benefits
to which the Executive would be entitled from the Company absent the Excise Tax,
but net of all applicable federal, state and local
taxes.  Unless

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    otherwise
agreed to by the Executive, the calculation and administration of the Gross-Up
Payment shall be in accordance with the terms of the UIL CIC Plan II, as in
effect on August 4, 2008, and applicable Treasury regulations.

    

    14. Section
(11)(b) of the Agreement is hereby revised in its entirety to provide as
follows:

    

    (b)  The Executive
acknowledges and agrees that, of the total payments and benefits to which he
would be entitled under Section (6)(c) (termination of the Executive without
Cause) of this Agreement an amount equal to one (1) times his Target Total
Remuneration (or, if less, the lump sum severance amount that would be payable
to the Executive under Section (6)(c) absent this adjustment) shall be deemed to
be on account of, and paid as consideration for, the covenant not to compete
provided in this Section.  The Executive acknowledges and agrees that
the amount attributable to this covenant shall be paid out in twelve (12) equal,
fixed monthly installments beginning with the month following the month in which
the Executive’s Separation from Service occurs, and that such amount shall be
deducted from, and not be in addition to, the amounts otherwise payable under
Section (6)(c) of this Agreement.

    

    In the
event that benefits shall become payable under the UIL CIC Plan II rather than
this Agreement, in addition to such amounts as may become payable under the UIL
CIC Plan II on account of an Involuntary Separation from Service, an amount
equal to one (1) times the Executive’s Target Total Remuneration (or, if less,
the lump sum severance amount that would be payable to the Executive under the
UIL CIC Plan II absent the deduction equal to Target Total Remuneration)
shall be deemed to be on account of, and paid as consideration for, the covenant
not to compete provided in this Section, and shall be paid ratably over the
twelve (12) month period hereinbefore provided.

    

    Target
Total Remuneration shall be defined as the sum of the following components of
the Executive’s remuneration as most recently approved by the Compensation and
Executive Development Committee of the Board prior to the date of the
Executive’s termination: (1) Base Salary, (2) target annual short-term incentive
award, and (3) target long-term incentive award.

    

    In the
event that the Company determines that this covenant has been violated, no
further payments shall be made under this Section, the Executive shall be
obligated immediately to repay any amounts paid hereunder, and the Company shall
have all of the rights and remedies provided under Section (13) of this
Agreement.  Payments hereunder shall be subject to the rabbi trust
deposit requirements of Section (8).

    

    In the
event any payments are made in accordance with this Section (11)(b), payments
shall be made in equal, fixed monthly installments beginning with the month
following the month in which the Executive’s Separation from Service
occurs.  Notwithstanding the foregoing, if the value of the payments
to be made in accordance with this Section (11)(b) exceeds two times the lesser
of the Executive’s annualized compensation or the maximum amount that may be
taken into account for qualified plan purposes (in each case determined in
accordance with Treasury Regulations Section 1.409A-

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    1(b)(9)(iii)(A)),
the excess shall be not be paid prior to the first business day of the month
following the date that is six months after the Executive’s Separation from
Service date, at which time that portion of the excess amount that would have
otherwise been paid in the preceding six months shall be paid in a single lump
sum.  No interest or earnings shall be paid on the excess amount for
which payment is delayed.  In no event may the Executive designate the
timing or year of any payment made pursuant to this Section (11)(b) or
accelerate or delay any such payment, nor shall any such payment be made later
than the last day of the second taxable year of the Executive following the
taxable year in which occurs the Executive’s separation from
service.  In the event of the Executive’s death, amounts otherwise
payable hereunder shall be paid to the Executive’s estate.

    

    15. Section
(13)(c) of the Agreement is hereby revised in its entirety to provide as
follows:

    

    (c)  Binding
Agreement; Assignment.

    

     

    (i)  The Company will require
the acquirer of all or substantially all of the business or assets of the
Company (whether directly or indirectly, by purchase of stock or assets, merger,
consolidation or otherwise), by agreement in form and substance reasonably
satisfactory to the Executive, to expressly assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be
required to perform it if no such succession had taken place.  As used
in this Section, the term the “Company” shall include The United Illuminating
Company, UIL Holdings Corporation, and any successor to, or acquirer of, the
business or assets of the Company that executes and delivers the agreement
provided for in this Section (13)(c) or which otherwise becomes bound by all the
terms and provisions of this Agreement by operation of law.

     

    

    (ii)  This Agreement, and the
Executive’s rights and obligations hereunder, may not be assigned by the
Executive.  Any attempted assignment of this Agreement by the
Executive shall be void and of no force and effect.  This Agreement
and all rights of the Executive hereunder 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.

    

    16. New
Subsection (13)(j) is hereby added to the Agreement to provide as
follows:

    

    (j)  Code
Section 409A Compliance.  The parties
hereto recognize that certain provisions of this Agreement may be affected by
Section 409A of the Internal Revenue Code and guidance issued thereunder, and
agree to amend this Agreement, or take such other action as may be necessary or
advisable, to comply with Section 409A.  It is intended that all
payments hereunder shall comply with Section 409A and the regulations
promulgated thereunder so as to not subject the Executive to payment of interest
or any additional tax under Section 409A.  In furtherance thereof, if
payment or provision of any amount or benefit hereunder (including any transfer
to a “rabbi” trust or similar funding

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    entity)
that is subject to Section 409A at the time specified herein would subject such
amount or benefit to any additional tax under Section 409A, the payment or
provision of such amount or benefit shall be postponed to the earliest date on
which the payment or provision of such amount or benefit could be made without
incurring such additional tax.  In addition, to the extent that any
regulations or other guidance issued under Section 409A (after application of
the previous provisions of this Section (13)(j)) would result in the Executive’s
being subject to the payment of interest or any additional tax under Section
409A, the parties agree, to the extent reasonably possible, to amend this
Agreement in order to avoid the imposition of any such interest or additional
tax under Section 409A, which amendment shall have the minimum economic effect
necessary and be reasonably determined in good faith by the Company and the
Executive.

    

    Notwithstanding
anything herein to the contrary, it is expressly understood that at any time the
Company (or any related employer treated with the Company as the service
recipient for purposes of Code Section 409A) is publicly traded on an
established securities market (as defined for purposes of Code Section 409A), if
a payment or provision of an amount or benefit constituting a deferral of
compensation is to be made pursuant to the terms of this Agreement to the
Executive on account of a Separation from Service (as defined under the UIL CIC
Plan II) at a time when the Executive is a Specified Employee (as defined for
purposes of Code Section 409A(a)(2)(B)(i)), such deferred compensation shall not
be paid to the Executive prior to the date that is six (6) months after the
Separation from Service.  In the event this restriction applies, the
deferred compensation that the Executive would have otherwise been entitled to
during the restriction period will be accumulated and paid (without adjustment
for the delay in payment) on the first business day of the seventh month
following the date of the Executive’s Separation from Service.

    

    The
parties hereto intend that the Agreement, as amended, be consistent with IRS
Notice 2007-78, IRS Notice 2007-86 and other Code Section 409A transition
relief, and it shall be interpreted accordingly.

    

    All of
the other terms and conditions of the Agreement shall remain in full force and
effect.

    

                                  THE UNITED ILLUMINATING
COMPANY

    

    

    
      	
              Attest:

            	 
      	
              By           /s/ James P. Torgerson                

            
	 
      /s/ Angel Bruno	 
      	
              James P.
  Torgerson

            
	 
      	 
      	
              UIL Holdings Corporation,
      President and

            
	 
      	 
      	
              Chief Financial
      Officer

            
	 
      	 
      	
              The United Illuminating
      Company

            
	 
      	 
      	
              Chief Executive
      Officer

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
               /s/ Richard J.
      Nicholas                                                                                          

            
	 
      	 
      	
              Richard J.
    Nicholas

            

    

     

    8

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