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exa1019.htm

  

  

  

EXHIBIT A 10.19

CONSULTING SERVICES AGREEMENT

This Consulting Services Agreement ("Agreement”) is entered into and made effective as of June 1, 2011 by and between Robert H. Young ("Consultant"),and Central Vermont Public Service Corporation (the "Company"), a Vermont corporation with principal offices at 77 Grove Street, Rutland, Vermont 05701.

RECITALS

WHEREAS, Consultant has extensive experience in the electric utility industry and a unique understanding of the issues confronting the Company based on his many years of service to the Company.

WHEREAS, the Company wishes to ensure the continued availability of Consultant's advice and counsel on various matters;

NOW THEREFORE, in consideration of the mutual covenants and promises herein contained and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, Company and Consultant agree as follows:

ARTICLE ONE - SCOPE OF SERVICE

	
1.1

	
Consultant shall assist the Company with any consulting services mutually agreed to between the consultant and the CEO.

ARTICLE TWO - RIGHTS IN WORK PRODUCT

	
2.1

	
It is understood and agreed that the services to be performed by Consultant, in conjunction with Company personnel or otherwise, shall be considered "work made for hire" and the ownership rights to the work product so produced shall be and remain with the Company.

ARTICLE THREE – CONFIDENTIALITY AND NON-COMPETE

	
3.1

	
Consultant will keep confidential all information, whether marked "Confidential" or not, obtained by Consultant in the course of his work for the Company or his prior employment with the Company.

	
3.2

	
Consultant shall not be required to keep confidential any data which is or becomes publicly available, is independently developed by Consultant outside the scope of this Agreement, or is rightfully obtained from third parties.

 

  

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3.3  

	
Consultant is not to divulge to third parties, without the prior written consent of the Company any information furnished to it by the Company or its clients in connection with performance under this Agreement.

 

	
3.4  

	
Consultant shall not during the term of this Agreement in any manner, directly or indirectly, through any person or entity, (i) engage in or be engaged in, or assist any other person or entity in any business being conducted by Company or its subsidiaries, or (ii) engage in or be engaged in assisting any entity in the regulation or oversight of the Company or its subsidiaries.

ARTICLE FOUR - TERM

	
4.1

	
The term of this Agreement shall begin June 1, 2011 and shall run through May 31, 2012.

ARTICLE FIVE - CHARGES AND PAYMENTS

	
5.1

	
Company shall pay Consultant $20,000.00 per month for services during the term of this Agreement.  Each payment will be made no later than the last day of each month for service during the term of this Agreement.

	
5.2

	
The fee for services shall be paid regardless of the hours actually worked by Consultant during the term.

	
5.3

	
Company shall reimburse Consultant for all reasonable expenses incurred in the course of his work for the Company, including travel, meals, lodging, and other related expenses

	
5.4

	
Consultant shall bill Company monthly for expenses. Consultant shall provide support for expenses submitted to Company.

	
5.5

	
Consultant is an independent contractor and shall be responsible for payment of all social security, state and federal taxes in conjunction with work for the Company and agrees to hold the Company harmless from any and all liability relating thereto.

ARTICLE SIX - GENERAL PROVISIONS

	
6.1

	
This Agreement shall be governed by and construed in accordance with the laws of the State of Vermont.

	
6.2  

	
This Agreement sets forth the entire agreement between the Parties with

 

  

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respect to the subject matter hereof, and supersedes all oral or written representations, warranties, agreements, or other inducements relating to this Agreement.

	
6.3

	
No provision of this Agreement may be waived, modified, or superseded except by written instrument signed by duly authorized representatives of both Parties.

	
6.4

	
This Agreement may be amended with and only with the written mutual consent of the Parties hereto. This Agreement represents and incorporates the entire understanding between the Parties with respect to rights and obligations.  Consultant may not assign this Agreement or subcontract to others the performance of any services under this Agreement.

	
6.5

	
Consultant shall exercise care, skill, diligence, and professionalism normally associated with performance of services as set forth in this Agreement. The Consultant shall conduct himself in accordance with the highest standards of good faith and loyalty.

	
6.6

	
Any debts, obligations, liabilities accrued hereunder between the Parties hereto shall survive the termination of this Agreement.

	
6.7

	
The Parties' obligations not to disclose any materials or confidential information to any third party in any form shall survive termination of this Agreement.

	
6.8

	
Should any clause, sentence, or paragraph of this Agreement be judicially declared invalid, unenforceable or void, such decision shall not have the effect of invalidating or voiding the remainder of this Agreement, and the Parties hereto agree that the part or parts of this Agreement so held to be invalid, unenforceable, or void shall be deemed to have been stricken and the remainder shall have the same force and effect as if said part or parts had never been included herein.

	
6.9

	
The Parties understand and agree that time is of the essence of this Agreement. Accordingly, the Parties shall fulfill their obligations under this Agreement in a diligent and punctual manner. Any failure to require a diligent and punctual fulfillment by either Party shall not constitute waiver of that Party's rights to fulfillment of such obligations.

	
6.10

	
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Agreement may be executed and delivered by facsimile or via electronic mail in portable digital format ( PDF ) and upon such delivery the facsimile or PDF signature will be deemed to have the same effect

 

  

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as if the original signature had been delivered to the other party.

DATED at the City of Rutland, County of Rutland, State of Vermont this 19th day of April, 2011.

   /s/ Robert H. Young                                

Robert H. Young

DATED at the City of Rutland, County of Rutland, State of Vermont this 19th day of April, 2011.

CENTRAL VERMONT PUBLIC

  SERVICE CORPORATION

   /s/ Lawrence J. Reilly                             

Lawrence J. Reilly, President and

Chief Executive Officer

 

  

Page 4 of 4Unassociated Document

FIRST AMENDMENT TO

HALLIBURTON COMPANY EMPLOYEE STOCK PURCHASE PLAN

AS AMENDED AND RESTATED FEBRUARY 11, 2009

WHEREAS, the Board of Directors of Halliburton Company (the “Board”) has previously adopted the Halliburton Company Employee Stock Purchase Plan, as amended and restated February 11, 2009 (the “Plan”), and subsequently approved by the stockholders of Halliburton Company on May 20, 2009;

WHEREAS, pursuant to paragraph 16 of the Plan, the Board has the authority to amend the Plan or any part thereof from time to time;

WHEREAS, the Board now desires to amend the Plan in several respects;

NOW, THEREFORE, the Board does hereby amend the Plan, effective as of the date signed below, as follows:

1.           The definition of “Eligible Employee” in paragraph 2 of the Plan is amended to read as follows:

“‘Eligible Employee’ means, as of each Enrollment Date, each employee of the Company or a Participating Company, but excluding (i) employees who are employed in a foreign country whose laws or regulations effectively prohibit participation in the Plan, or (ii) employees who are customarily employed by the Company less than twenty (20) hours per week or less than five (5) months in any calendar year.  Additionally the Committee may also determine that a designated group of highly compensated employees are ineligible to participate in the Plan so long as the group fits within the definition of ‘highly compensated employee’ in Code Section 414(q).”

2.           Paragraph 9(b) Leave of Absence shall be deleted and paragraph 9(c) shall become paragraph 9(b).

IN WITNESS WHEREOF, Halliburton Company has caused these presents to be duly executed this 10th day of February, 2011.

HALLIBURTON COMPANY

By:           /s/ David J. LesarUnassociated Document

FIRST AMENDMENT TO THE

 

RETIREMENT PLAN FOR THE DIRECTORS

 

OF HALLIBURTON COMPANY

 

(As Amended and Restated July 1, 2007)

 

 

Halliburton Company (the “Company”) established and maintains the Retirement Plan for the Directors of Halliburton Company, as amended and restated July 1, 2007 (the “Plan”).  Pursuant to Article X of the Plan, the Board of Directors of the Company reserves the right to amend the Plan.  The Company hereby amends the Plan, effective as of September 1, 2007, as follows:

 

1.           Article III of the Plan is hereby amended by adding the following new Section 3.4 to the end of such Article III:

 

“3.4.           Lump Sum Distribution Election

 

Notwithstanding any provision in the Plan to the contrary, a Participant, who has commenced receiving a Retirement Benefit under the Plan in annual payments, shall be given a one-time election to receive the present value of the remaining annual payments in a single lump sum payment, provided such election is made and delivered to the Company in the form and manner prescribed by the Company on or before December 31, 2007.  If properly elected, such payment shall be paid as soon as practicable during the month of January 2008, in the form of a single lump sum equal to the present value of the Participant’s remaining unpaid annual payments, calculated as of December 31, 2007, using the interest rate assumption set forth on Exhibit A hereto.

 

  

  

  

A Participant who has not experienced a Termination Date under the Plan, shall nevertheless be given a one-time election to receive the present value of his or her Retirement Benefit in a single lump sum payment following such Termination Date, provided such election is made and delivered to the Company in the form and manner prescribed by the Company on or before December 31, 2007.  If properly elected, such payment shall be made as of the Benefit Commencement Date as defined in Section 3.3 of the Plan, and shall be equal to the present value of such Participant’s Retirement Benefit, calculated as of the end of the month preceding the month in which payment is to be made, using the interest rate assumption set forth in Exhibit A hereto.

 

Any Participant, who fails to make an election in accordance with the foregoing, shall be subject to all the terms and conditions of the Plan as in effect prior to this amendment.”

 

2.           The Plan is hereby amended by adding to the end thereof “Exhibit A” in the form as attached hereto.

 

IN WITNESS WHEREOF, the Company has caused these presents to be executed by its duly authorized officer, in a number of copies, all of which shall constitute but one and the same instrument that may be sufficiently evidenced by any such executed copy hereof, this 1st day of October, 2007, but effective as of September 1, 2007.

 

HALLIBURTON COMPANY

By:           /s/ David J. Lesar

Name:     David J. Lesar

Title:       Chairman of the Board, President and

    Chief Executive Officer

  

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RETIREMENT PLAN FOR THE DIRECTORS

OF HALLIBURTON COMPANY

 

(As Amended and Restated July 1, 2007)

 

 

EXHIBIT A

 

 

Present Value

 

This Exhibit A forms part of the Retirement Plan for the Directors of Halliburton Company, as amended effective September 1, 2007 (the “Plan”).  The provisions of this Exhibit A govern the interest rate assumption for purposes of determining present value in Section 3.4 of the Plan, as follows:

The interest rate assumption shall be the average "applicable interest rate" as defined in Section 417(e)(3)(A)(ii)(II) of the Internal Revenue Code of 1986, as amended, for the month preceding the month in which payment is to be made, as published by the Internal Revenue Service, or if no such rate is published, the rate determined using substantially similar methodology.

  

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