Document:

Exhibit 10.9

FIRST AMENDMENT TO

ASSIGNMENT AGREEMENT

BETWEEN

CORNING NATURAL GAS CORPORATION

AND

THOMAS K. BARRY

THIS FIRST
AMENDMENT, effective this 2nd day of May, 2006,
by and between Corning Natural Gas Corporation, a New York Corporation (the “Company”)
and Thomas K. Barry (the “Executive”).

WITNESSETH:

WHEREAS,
the Company and the Executive previously entered into that certain Assignment
Agreement made July 10, 2001 (the “Assignment Agreement”); and

WHEREAS,
the Executive and the Company desire to make the acquisition of the Company by
C&T Enterprise, Inc. (“C&T”) more desirable to C&T by providing
security to C&T for the limited indemnification obligations of the
Executive and the Company to be agreed upon by and among C&T, the Company
and the Executive in a Merger Agreement to be executed shortly after the
execution of this First Amendment (the “Merger Agreement”); said security being
certain rights under the life insurance policies on Executive (collectively the
“Key Man Policy”).

WHEREAS,
the Company and Executive desire to amend the Assignment Agreement to
accomplish the foregoing,

NOW
THEREFORE, it is hereby agreed by and between the parties hereto as follows:

1.             Paragraph 1 of the Assignment
Agreement is hereby deleted in its entirety and a new paragraph 1 is
substituted therefore to read in its entirety as follows:

“1. Effective upon the
date (the “Transaction Date”) of the consummation of the merger of the Company
with C&T, the ownership of the Key Man Policy shall vest in C&T, and
the beneficiary of the Key Man Policy shall be the Executive or his heirs,
subject to the rights of C&T under Paragraph 2 hereof.”

2.             Paragraph 2 of the Assignment
Agreement is hereby renumbered as Paragraph 3 and a new paragraph 2 is hereby
added as follows:

“  2. C&T’s limited
indemnification rights under the Merger Agreement relative to the Executive may
be funded by the cash value of the Key Man Policy in the event of a final
determination of fraud having been committed by Executive with respect to the
relevant representations and warranties set forth in the said Merger Agreement.
Such determination of fraud shall be made by a court of competent jurisdiction
and shall occur by the earlier of (a) the three (3) year anniversary of 

 

the effective date of the Merger Agreement or (b) the
death of Executive. In the event that the Executive survives said three (3)
year period and said three (3) year period passes without a valid claim for
indemnification by C&T (as described in the preceding sentence), C&T
may not change the beneficiaries and may not make any claim against the Key Man
Policy cash value or otherwise. Executive’s rights to death benefits under the
Key Man Policy shall be forfeited in the event that Executive violates the
non-competition agreement with C&T.”

3.             This First Amendment shall not be
effective in the event that the pending acquisition of the Company by C&T
is not consummated.

4.             Except as provided above, the
provisions of the Assignment Agreement remain in full force and effect and are
incorporated herein by reference.

IN
WITNESS WHEREOF, the Company has caused this First Amendment to be executed by
its officer thereunto duly authorized, and the Executive has signed this First
Amendment, all effective as of the date first above written.

	
  Witness:

  	
  Corning Natural Gas Corporation:

  
	
   

  	
   

  
	
  /s/ Stanley G.
  Sleve

  	
   

  	
  By:

  	
  /s/ Kenneth J. Robinson

  
	
   

  	
  Title:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  
	
  Witness:

  	
  Executive:

  
	
   

  	
   

  	
   

  
	
  /s/ Stanley G.
  Sleve

  	
   

  	
  /s/ Thomas K. Barry

  
	
   

  	
  Thomas K. Barry

  

 

 2Exhibit
10.10

FIRST AMENDMENT TO

ASSIGNMENT AGREEMENT

BETWEEN

CORNING NATURAL GAS CORPORATION

AND

KENNETH J. ROBINSON

THIS FIRST
AMENDMENT, effective this 2nd day of May, 2006,
by and between Corning Natural Gas Corporation, a New York Corporation (the “Company”)
and Kenneth J. Robinson (the “Executive”).

WITNESSETH:

WHEREAS,
the Company and the Executive previously entered into that certain Assignment
Agreement made July 10, 2001 (the “Assignment Agreement”); and

WHEREAS,
the Executive and the Company desire to make the acquisition of the Company by
C&T Enterprise, Inc. (“C&T”) more desirable to C&T by providing
security to C&T for the limited indemnification obligations of the
Executive and the Company to be agreed upon by and among C&T, the Company
and the Executive in a Merger Agreement to be executed shortly after the
execution of this First Amendment (the “Merger Agreement”); said security being
certain rights under the life insurance policies on Executive (collectively the
“Key Man Policy”).

WHEREAS,
the Company and Executive desire to amend the Assignment Agreement to
accomplish the foregoing,

NOW
THEREFORE, it is hereby agreed by and between the parties hereto as follows:

1.    Paragraph 1 of the Assignment Agreement is
hereby deleted in its entirety and a new paragraph 1 is substituted therefore
to read in its entirety as follows:

“1. Effective upon the
date (the “Transaction Date”) of the consummation of the merger of the Company
with C&T, the ownership of the Key Man Policy shall vest in C&T, and
the beneficiary of the Key Man Policy shall be the Executive or his heirs,
subject to the rights of C&T under Paragraph 2 hereof.”

2.    Paragraph 2 of the Assignment Agreement is
hereby renumbered as Paragraph 3 and a new paragraph 2 is hereby added as
follows:

“  2. C&T’s limited
indemnification rights under the Merger Agreement relative to the Executive may
be funded by the cash value of the Key Man Policy in the event of a final
determination of fraud having been committed by Executive with respect to the
relevant representations and warranties set forth in the said Merger Agreement.
Such determination of fraud shall be made by a court of competent jurisdiction
and shall occur by the earlier of (a) the three (3) year anniversary of 

 

        the effective date of the
Merger Agreement or (b) the death of Executive. In the event that the Executive
survives said three (3) year period and said three (3) year period passes
without a valid claim for indemnification by C&T (as described in the
preceding sentence), C&T may not change the beneficiaries and may not make
any claim against the Key Man Policy cash value or otherwise. Executive’s
rights to death benefits under the Key Man Policy shall be forfeited in the
event that Executive violates the non-competition agreement with C&T.”

3.    This First Amendment shall not be effective
in the event that the pending acquisition of the Company by C&T is not
consummated.

4.    Except
as provided above, the provisions of the Assignment Agreement remain in full
force and effect and are incorporated herein by reference.

IN
WITNESS WHEREOF, the Company has caused this First Amendment to be executed by
its officer thereunto duly authorized, and the Executive has signed this First
Amendment, all effective as of the date first above written.

	
  Witness:

  	
  Corning Natural Gas Corporation:

  
	
   

  	
   

  	
   

  
	
  /s/ Stanley G.
  Sleve

  	
   

  	
  By:

  	
  /s/ Thomas K. Barry

  
	
   

  	
  Title:

  	
  President & CEO

  
	
   

  	
   

  	
   

  
	
  Witness:

  	
  Executive:

  
	
   

  	
   

  	
   

  
	
  /s/ Stanley G.
  Sleve

  	
   

  	
  /s/ Kenneth J. Robinson

  
	
   

  	
  Kenneth J. Robinson

  
					

 

 2Exhibit
10.11

CODE
SECTION 409A AMENDMENT

to

EMPLOYMENT AGREEMENT

between

CORNING NATURAL GAS CORPORATION AND THOMAS K.
BARRY

WHEREAS,
Corning Natural Gas Corporation (the “Company”) and Thomas K. Barry (the “Employee”)
entered an Amended and Restated Employment Agreement (the “Agreement”) dated
December 14, 2000; and

WHEREAS,
effective as of January 1, 2005, Section 409A was added to the Internal Revenue
Code of 1986 for the purpose of imposing certain requirements on non-qualified
deferred compensation plans; and

WHEREAS,
the parties have determined that certain benefits under the Agreement are
subject to Section 409A and wish to bring its terms into compliance with
Section 409A prior to the IRS’s December 31, 2006 deadline for documentary
compliance.

NOW,
THEREFORE, in consideration of the premises and the mutual
covenants contained herein the parties agree as follows:

1.            The effective date of this Amendment
is January 1, 2005, provided that any amounts that were deferred and vested as
of December 31, 2004 remain subject to the terms and conditions of the
Agreement without regard to this Amendment unless expressly provided to the
contrary herein.

2.            Section 7(g) is amended by adding at
the end thereof the following new subsection(9):

(9)                                    Section
409A Limitations.

(a)            Six Month Payment
Deferral.   Notwithstanding the foregoing, the portion of each
excess pension benefit payment that is otherwise payable within the first six
months following retirement or other termination of employment that had not
been earned and vested on December 31, 2004 shall be withheld and paid to the
Employee only after six months have elapsed following his retirement or other
termination of employment date.

(b)            No Acceleration.   Neither
the form of benefit may be changed nor the time of commencement may be
accelerated except as expressly provided in this Agreement, including the
Section 409A amendment to it, between the parties, and neither party shall have
the discretion to accelerate payments.

 

 

(c)            Intent to Comply with
Section 409A.   This Agreement is intended to comply with Code
Section 409A to the extent that its provisions are subject thereto.  The Company has adopted good faith amendments
necessary to bring the Agreement into compliance with the terms of this Section
as interpreted by guidance issued by the Internal Revenue Service.  To the extent the terms of the Agreement or
any amendment fail to qualify for exemption from or satisfy the requirements of
Code Section 409A, the Agreement may be operated in compliance with Code Section
409A pending further amendment to the extent authorized by the Internal Revenue
Service.  In such circumstances the
Agreement and any amendment will be administered in a manner which adheres as
closely as possible to their existing terms while complying with Code Section
409A.

IN WITNESS WHEREOF,
the parties have executed this Amendment to be effective as of January 1, 2005.

	
  Dated: July 28, 2006

  	
   

  	
   

  	
  CORNING NATURAL GAS CORPORATION

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Kenneth J. Robinson

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Exec. Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Dated: July 28,
  2006

  	
   

  	
   

  	
  /s/ Thomas K. Barry

  
	
   

  	
   

  	
   

  	
  Thomas K. Barry, Employee

  

 

 2

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