Document:

AMENDMENT TO EMPLOYMENT AGREEMENT

This Amendment, dated as of September 19, 2001, is to the Employment Agreement,
dated as of February 25, 1997, by and between Northeast Utilities Service
Company (the "Company") and Cheryl W. Grise ("Executive"), as amended.

          A.   The following sentence is added at the end of
               Section 1.4 of the Agreement:

          "Executive's annual Base Salary shall not be reduced
          below $400,000 after September 1, 2001 without
          Executive's written consent."

          B.   The words "due hereunder" in Section 6.1(f)(ii)
               are amended to read "as in effect immediately prior to
               the Change of Control".

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

                         NORTHEAST UTILITIES SERVICE COMPANY

                         By: /s/ Gregory B. Butler
                                 Its Vice President, General Counsel
                                 and Secretary

                         EXECUTIVE

                         _______________________
                         Cheryl W. GriseExhibit 10.1

[THERMO ELECTRON CORPORATION LOGO]

                                   September 21, 2001

Mr. Brian D. Holt
97 Cherry Brook Road
Weston, Massachusetts 02193

Dear Brian:

     This  letter  confirms  our  arrangement   regarding  your  termination  of
employment  as an  officer  of  Thermo  Electron  Corporation  and  any  of  its
subsidiaries and affiliates (collectively, the "Company").

      The following is our agreement related to your termination of employment
with the Company:

1.   Termination of Employment: Your employment with the Company will (i) change
     from  full-time  to  half-time  as of  January  1, 2002 and (ii)  terminate
     effective as of March 31, 2002 (the "Employment  Termination Date"),  which
     you  acknowledge  is three months longer than the Company's  original date.
     You will be paid your regular salary through December 31, 2001 and one-half
     of your regular salary through the Employment Termination Date.

2.   2001 Bonus: You will be entitled to receive a bonus for your performance in
     2001,  which bonus shall be payable at the same time as bonuses are paid to
     other  Company   officers.   Your  2001  bonus  will  be  calculated  using
     methodologies applicable to other officers. Your reference bonus amount for
     2001 is $220,000.  The actual bonus will be the reference bonus  multiplied
     by a factor of zero to two times that amount.

3.   Severance  Payment:  You and the  Company  acknowledge  and agree that your
     termination of employment shall be deemed without Cause (as defined in your
     January 27, 2000 Executive Severance Agreement) and that you therefore will
     be entitled to the benefits  thereunder.  You will be entitled to receive a
     lump sum severance  payment on or before April 30, 2002 pursuant to Section
     4 of such  Executive  Severance  Agreement.  You also will be  entitled  to
     receive  an   additional   $18,000  at  that  time  to  reimburse  you  for
     outplacement service costs incurred by you.

<PAGE>

Mr. Brian D. Holt
September 21, 2001
Page 2

4.   Accrued Vacation: You will be paid for any accrued but unused vacation time
     which you had earned through the Employment  Termination Date. You will not
     continue  to earn  vacation  or other  paid time off  after the  Employment
     Termination Date.

5.   Full Payment:  You agree that all payments provided to you under paragraphs
     1, 2 and 4 of this  Agreement are in complete  satisfaction  of any and all
     compensation due to you from the Company through the Employment Termination
     Date. You agree to reimburse the Company for all personal  expenses due and
     owing to the Company as of the Employment Termination Date.

6.   Employee  Benefit  Programs:  Your  participation  in all employee  benefit
     programs  of  the  Company  will  cease  effective  as  of  the  Employment
     Termination  Date in accordance  with the terms of those  programs,  except
     that  pursuant to Section 4 of your  January 27, 2000  Executive  Severance
     Agreement, for twenty-four months after the Employment Termination Date you
     shall  continue  to receive  benefits in  accordance  with the terms of the
     Executive Severance Agreement.  Notwithstanding the foregoing, you shall be
     given  ownership  of your  current  Company  automobile  in lieu of further
     participation in the Company automobile program for executives.

7.   Thermo  Choice Plan:  Your active  participation  in the Thermo Choice Plan
     shall end on the Employment  Termination Date. Information will be provided
     to you regarding  various election options  available to you regarding your
     account.

8.   Stock Options:  No further vesting of your stock options in the Company and
     no further lapsing of the Company's  repurchase rights will occur after the
     Employment  Termination Date. If you do not exercise your vested options by
     the earlier of (i) the date of the original  expiration date of the options
     or (ii) the date  that is three  months  after the  Employment  Termination
     Date,  your  options  will  expire  and be  canceled,  and you will have no
     further rights with respect to your options.

9.   Taxes:  All payments by the Company under this Agreement will be reduced by
     all taxes and other amounts that the Company is required to withhold  under
     applicable law and all other deductions authorized by you.

10.  Company  Property:  You will return to the  Company any and all  documents,
     materials  and  information  related to the Company,  or its  subsidiaries,
     affiliates or businesses, and all other property of the Company, including,
     without  limitation,  equipment and files in your possession or control, on
     or before the Employment  Termination Date. Further,  you agree that on and
     after the date hereof you will not for any purpose attempt to access or use
     any  Company  computer  or computer  network or system,  including  without
     limitation its electronic mail system.

11.  Restricted  Stock:  Your  restricted  shares of the Company's  common stock
     shall vest as of the Employment Termination Date.
<PAGE>
Mr. Brian D. Holt
September 21, 2001
Page 3

12.  Release: In exchange for the consideration  described in paragraph 1 hereof
     pertaining  to an  extension by the Company of the  employment  termination
     date, you hereby irrevocably and unconditionally waive, release, acquit and
     forever discharge the Company and each of its respective current, former or
     future   officers,   directors,    employees,   agents,    representatives,
     shareholders and legal predecessors and successors from any and all claims,
     liabilities, damages, actions, causes of action and suits, whether known or
     unknown, which you now have, own or hold, or claim to have, own or hold, or
     which at any time  heretofore,  had owned or held, or claimed to have owned
     or held, or which you at any time hereafter may have, own or hold, or claim
     to have  owned or held  against  them,  based  upon,  arising  out of or in
     connection with any circumstance, matter or state of fact up to the date of
     this agreement,  including  without  limitation those based upon or arising
     out of the termination of your employment and other  relationships with the
     Company,  your  service as an  officer or  director  of the  Company,  your
     compensation while employed by the Company, your stock options or any terms
     thereof or relating thereto and any of the Company's  policies,  procedures
     or  requirements,  except that you are not releasing any claims for amounts
     or benefits  owed to you under this letter  agreement  or your  January 27,
     2000  Executive  Severance  Agreement.  This release  includes,  but is not
     limited to, any claims for breach of  contract,  wrongful  termination,  or
     age, sex, race,  disability or other  discrimination under the Civil Rights
     Act of 1964, as amended,  the Age  Discrimination in Employment Act of 1967
     or other federal,  state or local laws prohibiting such  discrimination  or
     under any other federal, state or local employment laws.

     YOU  UNDERSTAND  AND  ACKNOWLEDGE  THAT YOU HAVE BEEN  ADVISED  TO SEEK THE
     ADVICE OF AN ATTORNEY,  IF YOU SO CHOOSE, PRIOR TO SIGNING THIS RELEASE AND
     TO THE EXTENT  DESCRIBED HEREIN YOU ARE GIVING UP ANY LEGAL CLAIMS YOU HAVE
     AGAINST THE COMPANY AND EACH OF ITS  RESPECTIVE  CURRENT,  FORMER OR FUTURE
     OFFICERS,  DIRECTORS,  EMPLOYEES,  AGENTS,  REPRESENTATIVES,  SHAREHOLDERS,
     LEGAL  PREDECESSORS  AND  SUCCESSORS BY SIGNING THIS  RELEASE.  YOU FURTHER
     UNDERSTAND THAT YOU MAY HAVE 21 DAYS TO CONSIDER THIS  AGREEMENT,  THAT YOU
     MAY REVOKE IT AT ANY TIME DURING THE SEVEN DAYS AFTER YOU SIGN IT, AND THAT
     IT WILL NOT BECOME EFFECTIVE UNTIL THE 7-DAY  REVOCATION  PERIOD HAS PASSED
     WITHOUT  REVOCATION.  YOU FULLY  UNDERSTAND  YOUR  RIGHT TO TAKE 21 DAYS TO
     CONSIDER SIGNING THIS RELEASE AND, AFTER HAVING SUFFICIENT TIME TO CONSIDER
     YOUR OPTIONS,  YOU HEREBY WAIVE YOUR RIGHT TO TAKE THE FULL 21-DAY  PERIOD.
     YOU ACKNOWLEDGE THAT YOU ARE SIGNING THIS RELEASE KNOWINGLY,  WILLINGLY AND
     VOLUNTARILY  IN EXCHANGE  FOR THE  CONSIDERATION  DESCRIBED  IN PARAGRAPH 1
     HEREOF.

13.  Resignation.  You hereby  resign  effective  as of December 31, 2001 all of
     your positions as an officer and director of the Company.
<PAGE>
Mr. Brian D. Holt
September 21, 2001
Page 4

14.  Non-Disparagement:  You agree that you will continue to support and promote
     the  interests of the Company and that you will not  criticize,  disparage,
     defame or in any way comment  negatively to anyone about the Company or any
     of the people or  organizations  connected with them, or do or say anything
     that could  disrupt  the good  morale of the  employees  of the  Company or
     otherwise  harm the  interests or  reputation of the Company and any of the
     organizations  or people  connected  with them.  The Company agrees that it
     will cause the  officers  of the  Company not to  criticize,  disparage  or
     defame you or otherwise do or say anything that harms your  reputation  and
     that  the  Company  shall  be  solely  responsible  for any  breach  of the
     provisions  in this  paragraph  14 by any such  officers.  Nothing  in this
     provision  shall  prevent the parties from (i)  complying  with  compulsory
     legal process or otherwise making disclosures in connection with litigation
     or  administrative  proceedings,   (ii)  making  such  disclosures  as  are
     necessary to obtain legal advice,  (iii) making disclosures as are required
     by  federal,  state  or  local  regulatory  authorities,  and  (iv)  making
     disclosures which by law are required or cannot be prohibited.

15.  Cooperation:  You  agree to  reasonably  cooperate  with the  Company  with
     respect  to all  matters  arising  during or  related  to your  employment,
     including  but  not  limited  to   cooperation   in  connection   with  any
     governmental  investigation,  litigation or regulatory or other  proceeding
     which may have  arisen or which may arise  following  the  signing  of this
     Agreement.

16.  Waiver of Jury Trial: Each of the parties hereby  expressly,  knowingly and
     voluntarily  waives all  benefit and  advantage  of any right to a trial by
     jury,  and each agrees that she or it will not at any time insist upon,  or
     plead or in any manner  whatsoever  claim or take the benefit or  advantage
     of,  a  trial  by  jury in any  action  arising  in  connection  with  this
     Agreement.

17.  Company Information and Invention  Agreement.  You agree to comply with the
     terms of a Thermo Electron Company Information and Invention  Agreement,  a
     copy of which is  attached  hereto.  Such  agreement  supersedes  any prior
     agreement  covering the same subject  matter which you may have signed with
     the Company previously.

18.  Entire Agreement: This letter contains the entire Agreement between you and
     the  Company  and  supersedes  all  prior and  contemporaneous  agreements,
     communications and understandings, whether written or oral, relating to the
     subject matter of this letter, including your Executive Retention Agreement
     (which is hereby canceled), except that your Indemnification Agreement with
     the Company,  the May 18, 2000  Transaction  Bonus letter agreement and the
     Thermo Electron Company  Information and Invention  Agreement shall survive
     in  accordance  with  their  terms  and your  January  27,  2000  Executive
     Severance  Agreement  shall  survive  as  modified  by  this  letter.  This
     Agreement will be governed by and  interpreted in accordance  with the laws
     of the  Commonwealth  of  Massachusetts  without  regard  to  choice of law
     provisions.

<PAGE>
Mr. Brian D. Holt
September 21, 2001
Page 5

19.  Severability:  If one or more  provisions of this  Agreement are held to be
     unenforceable  under  applicable law, such provision shall be excluded from
     this Agreement and replaced with a provision which is enforceable and comes
     closest  to  the  intent  of  the  parties   underlying  the  unenforceable
     provision.

20.  Relief:  In the event of breach of the  provisions of this Agreement by any
     party,  in  addition to any other  rights  that the other  parties may have
     under  law or in  equity,  each  party  shall  have the  right to  specific
     performance and injunctive  relief,  it being  acknowledged and agreed that
     money damages will not provide an adequate remedy.  In the event litigation
     is brought with respect to this  Agreement,  the prevailing  party shall be
     entitled to recover from the losing party his or its reasonable  attorney's
     fees and expenses.

21.  Successors and Assigns:  This Agreement  shall be bending upon and inure to
     the  benefit of the  parties  hereto and their  respective  successors  and
     assigns,  including corporations with which, or into which, the Company may
     be  merged or which  may  succeed  to its  respective  assets or  business;
     provided,  however,  that  your  obligations  are  personal  and may not be
     assigned. In the event you die before the Employment  Termination Date, all
     amounts which would have been paid to you  hereunder  shall be paid to your
     estate.

22.  Amendment:  This  Agreement  may be amended or  modified  only by a written
     instrument executed by you and the Company.

23.  Voluntary  Agreement:  In  signing  this  Agreement,  you give the  Company
     assurance that you have signed it voluntarily and with a full understanding
     of its terms and that you have had sufficient  opportunity to consider this
     Agreement and to consult with anyone of your choosing before signing it. If
     the terms of this Agreement are  acceptable to you,  please sign and return
     it to the undersigned.  At the time you sign and return this Agreement,  it
     will take effect as a legally-binding agreement between you and the Company
     on the basis set forth above.

Date Received by Addressee: September 24, 2001

                                   THERMO ELECTRON CORPORATION

                                   By:  /s/ Richard F. Syron
                                        ------------------------------------
                                Title:  Chairman and Chief Executive Officer

Accepted and Agreed to:

/s/ Brian D. Holt
--------------------------------

<PAGE>
[THERMO ELECTRON CORPORATION LOGO]

                   COMPANY INFORMATION AND INVENTION AGREEMENT

     In consideration  and as a condition of my employment,  or if now employed,
the continuation of my employment by Thermo Electron Corporation or a subsidiary
thereof (the "Company") and the compensation paid therefor:

1.   I agree not to disclose to others or use for my own benefit during the term
     of my employment by the Company or thereafter  any trade secrets or private
     or confidential  information pertaining to any of the actual or anticipated
     business of the Company,  its  subsidiaries or affiliates,  or any of their
     respective customers,  consultants, or licensees, acquired by me during the
     period of my employment  with the Company,  except to such an extent as may
     be necessary in the ordinary  course of performing my particular  duties as
     an employee of the Company.

2.   I agree not to disclose to the Company, its subsidiaries and affiliates, or
     use or induce the Company,  its  subsidiaries  and affiliates,  to use, any
     confidential  information  or material  belonging to persons other than the
     Company, its subsidiaries or affiliates.

3.   I understand  that the making of inventions,  improvements  and discoveries
     may be one of the incidents of my employment,  and I agree to assign to the
     Company  or  its  nominee  my  entire  right,  title  and  interest  in any
     invention,  idea,  device or process,  whether  patentable  or not, made or
     conceived  by me solely or  jointly  with  others  during  the period of my
     employment by the Company in an executive, managerial, planning, technical,
     research, engineering, or other capacity and which relates in any manner to
     the  business  of the  Company,  or to its  actual or planned  research  or
     development,  or is suggested  or results  from any task  assigned to me or
     work performed by me for or on behalf of the Company,  except any invention
     or  idea  which  cannot  be  assigned  to the  Company  because  of a prior
     agreement with  ________________None___________________________  effective
     until ___________________________ (give name and date or write "none").

4.   I agree, in connection with any invention,  idea, device or process covered
     by paragraph 3:

     a.   To disclose it promptly in writing to the proper  officers or attorney
          of the Company.

     b.   To execute promptly,  on request,  patent applications and assignments
          thereof to the Company or its nominee and to assist the Company in any
          reasonable  manner to enable it to secure or enforce a patent therefor
          in the United States and any foreign  countries,  all without  further
          compensation except as provided herein.

<PAGE>

5.   I further agree that all papers and records of every kind,  relating to any
     invention or improvement  included within the terms of this Agreement which
     shall at any time come into my  possession  shall be the sole and exclusive
     property of the Company and shall be  surrendered  to the Company  upon any
     termination  of my  employment  by me or the Company or upon request at any
     other time either during or after the termination of my employment.

6.   I further  agree that the  obligations  and  undertakings  stated  above in
     paragraph 4b shall continue  beyond the termination of my employment by the
     Company,  but if I am  called  upon to  render  such  assistance  after the
     termination  of my  employment,  then I shall  be  entitled  to a fair  and
     reasonable per diem in addition to reimbursement  of any expenses  incurred
     at the request of the Company.

7.   I agree to identify in an  attachment to this  Agreement all  inventions or
     ideas related to the business or actual or planned  research or development
     of the Company in which I have right, title or interest, and which had been
     conceived  either  wholly  or in part by me prior to my  employment  by the
     Company but neither  published  nor filed in the U.S.  Patent and Trademark
     Office.

8.   I  understand  that this  Agreement  supersedes  any  agreement  previously
     executed by me relating to the  disclosure,  assignment  and  patenting  of
     inventions,  improvements  and  discoveries  made  during  the  term  of my
     employment the Company.  This  Agreement  shall inure to the benefit of the
     successors and assigns of the Company,  and shall be binding upon my heirs,
     assigns, administrators and representatives.

9.   I  understand  that this  Agreement  does not apply to an  invention  which
     qualifies  fully under the  provisions of any statute or  regulation  which
     renders  unenforceable  the  required  assignment  or  transfer  of certain
     inventions made by an employee.

                                        /s/ Brian D. Holt
                                        --------------------------------------
                                        Employee

/s/ Sheila J. Moylan                    September 24, 2001
-----------------------                 --------------------------------------
Witness                                 Date

                                        THERMO ELECTRON CORPORATION

/s/ Sheila J. Moylan                    By:  /s/ Seth H. Hoogasian
---------------------                   --------------------------------------
Witness

                                        September 24, 2001
                                        --------------------------------------
                                        Date

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