Document:

Deferred Compensation Plan

Wyeth

PLAN DOCUMENT

                  Amended and Restated as of November 20, 2003
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Wyeth

DEFERRED COMPENSATION PLAN

PLAN DOCUMENT

                                     PURPOSE

The Plan is an unfunded deferred compensation plan that provides certain key
employees of the Company with the opportunity to voluntarily defer receipt of a
portion of their compensation. Wyeth adopted the Plan to enable the Company to
attract and retain a select group of management and highly compensated
Employees.

                           Section One - DEFINITIONS

      Whenever used in the Plan, unless clearly apparent from the context, the
following terms shall have the following meanings:

     (a)  "Administrator" means the Committee or such entity or person to whom
          the Committee may delegate responsibility for administration of the
          Plan.

     (b)  "Amended and Restated Effective Date" means November 20, 2003.

     (c)  "Base Salary" means, except as set forth in the next sentence, for
          purposes of deferrals under the Plan, the annual base cash
          compensation to be paid during a Plan Year by the Company to an
          Eligible Employee for services rendered during such Plan Year.
          Notwithstanding the foregoing, solely for purposes of determining
          whether an Employee is an Eligible Employee, "Base Salary" means the
          annual base compensation from all sources (i.e., regardless of whether
          United States source or foreign source) to be paid during a Plan Year
          by Wyeth and its Subsidiaries to an Employee for services rendered
          during such Plan Year.

     (d)  "Beneficiary" means one or more persons or entities (including a trust
          or estate) designated by a Participant to receive payment of any
          unpaid balance in the Participant's Deferral Account under the Plan in
          the event of the Participant's death. Such designation shall be made
          on a form provided by the Recordkeeper and approved by the
          Administrator in accordance with its rules as provided in Section
          9(i).

     (e)  "Board of Directors" means the Board of Directors of Wyeth.

     (f)  "Bonus Compensation" means cash compensation to be paid during a Plan
          Year to an Eligible Employee by the Company for services rendered
          under any

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          incentive compensation or bonus plan, program or arrangement which is
          maintained or which may be adopted by the Company.

     (g)  "Change in Control" means the first to occur of any of the following
          events:

          (i)  any person or persons acting in concert (excluding Wyeth benefit
               plans) becomes the beneficial owner of securities of Wyeth having
               at least twenty percent (20%) of the voting power of Wyeth's then
               outstanding securities (unless the event causing the twenty
               percent (20%) threshold to be crossed is an acquisition of voting
               common securities directly from Wyeth); or

          (ii) the consummation of any merger or other business combination of
               Wyeth, sale or lease of Wyeth's assets, or combination of the
               foregoing transactions (the "Transactions"), other than a
               Transaction immediately following which the shareholders of Wyeth
               who owned shares immediately prior to the Transaction (including
               any trustee or fiduciary of any Wyeth employee benefit plan) own,
               by virtue of their prior ownership of Wyeth's shares, at least
               sixty-five percent (65%) of the voting power, directly or
               indirectly, of (a) the surviving corporation in any such merger
               or other business combination; (b) the purchaser or lessee of the
               Wyeth's assets; or (c) both the surviving corporation and the
               purchaser or lessee in the event of any combination of
               Transactions; or

          (iii) within any twenty-four (24) month period, the persons who were
               directors immediately before the beginning of such period (the
               "Incumbent Directors") shall cease (for any reason other than
               death) to constitute at least a majority of the Board of
               Directors or the board of directors of a successor to Wyeth. For
               this purpose, any director who was not a director at the
               beginning of such period shall be deemed to be an Incumbent
               Director if such director was elected to the Board of Directors
               by, or on the recommendation of or with the approval of, at least
               two-thirds of the directors who then qualified as Incumbent
               Directors (so long as such director was not nominated by a person
               who has expressed an intent to effect a Change in Control or
               engage in a proxy or other control contest).

     (h)  "Code" means the Internal Revenue Code of 1986, as amended from time
          to time.

     (i)  "Committee" means the Compensation and Benefits Committee of the Board
          of Directors.

     (j)  "Company" means Wyeth, a Delaware corporation ("Wyeth"), together with
          its wholly owned Subsidiaries in the United States, including Puerto
          Rico.

     (k)  "Deemed Interest" means the amount of interest that would have been
          earned had an amount deferred hereunder been invested at the Deemed
          Rate of Interest.

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     (l)  "Deemed Rate of Interest" means (i) prior to June 1, 1999, the average
          of the quarter end yields for a ten (10) year period ending September
          30 of the prior year of the ten (10) year U.S. Treasury notes plus two
          percent (2%); and (ii) thereafter, ten percent (10%) per annum,
          compounded quarterly. No portion of a Participant's Deferral Account
          that is not allocated to the Deemed Interest Investment Option as of
          the DRI Closing Date may be allocated to the Deemed Interest
          Investment Option on or after the DRI Closing Date. No portion of a
          Participant's Deferral Account that is allocated to the Deemed
          Interest Investment Option following the DRI Election Date may be
          subsequently allocated to another Investment Option. No portion of a
          Participant's Deferral Account allocated to the Deemed Interest
          Investment Option as of the Amended and Restated Effective Date may be
          allocated, on or prior to the DRI Election Date, to another Investment
          Option unless the Participant irrevocably waives any right to
          reallocate such transferred amount back to the Deemed Interest
          Investment Option at any time after the DRI Election Date.

     (m)  "Deferral Account" means a bookkeeping account (including all
          subaccounts) maintained by the Recordkeeper for each Participant to
          record his or her balance under the Plan. A Participant's Deferral
          Account shall consist of the sum of: (i) all of a Participant's
          deferrals under the Plan, whether made before or after the Amended and
          Restated Effective Date, including amounts rolled into the Predecessor
          Plan as of the Original Effective Date, plus or minus (ii) Investment
          Earnings/Losses on those amounts in accordance with the applicable
          crediting provisions of the Plan that relate to the Participant's
          Deferral Account, minus (iii) all distributions or withdrawals made to
          a Participant or his or her Beneficiary pursuant to the Plan that
          relate to his or her Deferral Account.

     (n)  "Disability" means a period of disability during which a Participant
          qualifies for permanent disability benefits under the Company's
          long-term disability plan, or, if a Participant does not participate
          in such a plan, a period of disability during which the Participant
          would have qualified for permanent disability benefits under such a
          plan had the Participant been a Participant in such a plan, as
          determined in the sole discretion of the Administrator. If the Company
          does not sponsor such a plan, or discontinues to sponsor such a plan,
          Disability shall be determined by the Administrator in its sole
          discretion.

     (o)  "DRI Closing Date" means April 1, 2004.

     (p)  "DRI Election Date" means December 19, 2003.

     (q)  "Election Form" means the form or forms established from time to time
          by the Administrator, that a Participant completes, signs and returns
          to the Recordkeeper to make an election under the Plan.

     (r)  "Eligible Employee" means an active Employee of the Company who at any
          time during the Plan Year is eligible to receive Base Salary for the
          Plan Year on an annualized basis of not less than one hundred
          fifty-five thousand dollars

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          ($155,000) or such other amount as may be determined from time to time
          by the Administrator. The determination of whether an Employee is an
          Eligible Employee shall be made at the sole discretion of the
          Administrator.

     (s)  "Employee" means any employee of the Company.

     (t)  "Executive Retirement Payments" means the payments an Eligible
          Employee is eligible to receive from the Wyeth ERP, the Wyeth SERP,
          and the Wyeth SESP.

     (u)  "Investment Earnings/Losses" means the income, gains and losses that
          would have been realized had an amount deferred hereunder actually
          been invested in the Investment Option or Options selected by a
          Participant.

     (v)  "Investment Options" means the investment options as listed in
          Appendix A, which is attached hereto and incorporated herein by this
          reference, that are used as hypothetical investment options among
          which the Participant may allocate all or a portion of his or her
          Deferral Account. The Administrator may amend or change available
          Investment Options (other than the Deemed Interest Investment Option)
          from time to time as it deems appropriate in its sole discretion, as
          provided for in Section 7(f); it being understood that the Deemed Rate
          of Interest may be amended only by the Committee in accordance with
          Section 1(o) above.

     (w)  "Market Interest Option" means the Investment Option described in
          Section 5(b).

     (x)  "Market Rate" means, for a particular calendar year, (i) 120% of the
          long-term applicable federal rate, with quarterly compounding, for the
          month of January of such calendar year, as published under Section
          1274(d) of the Code for such year or (ii) such other rate as shall be
          specified from time to time by the Committee, except that any rate
          specified under clause (ii) shall only apply to amounts in a Deferral
          Account on a prospective basis and following reasonable notice of such
          rate to Participants.

     (y)  "Normal Retirement Date" shall have the same meaning as set forth in
          the Wyeth Retirement Plan - United States.

     (z)  "Original Effective Date" means the original effective date for the
          Predecessor Plan, which was July 31, 1997.

     (aa) "Partial Termination Date" means December 20, 2004, or such earlier
          date as determined in the sole discretion of the Committee.

     (bb) "Partial Termination Election Form" means the Election Form(s)
          established for the purposes of making the election described in
          Section 8(h).

     (cc) "Participant" means an Employee or Retiree (for so long as he or she
          retains a Deferral Account under the Plan): (i) who at the time of
          commencement of his or her participation in the Plan was an Eligible
          Employee, (ii) who elects to participate in the Plan, (iii) who signs
          and returns all enrollment forms required by

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          the Recordkeeper, and (iv) whose signed form(s) are accepted by the
          Recordkeeper. The term "Participant" shall include an individual,
          including a Retiree, who is not making deferrals but retains a
          Deferral Account in the Plan (including through the Predecessor Plan).

     (dd) "Plan" means the Wyeth Deferred Compensation Plan as set forth herein
          and as it may be amended and/or restated from time to time.

     (ee) "Plan Year" means the calendar year.

     (ff) "Predecessor Plan" means the American Home Products Corporation
          Deferred Compensation Plan, which was effective as of July 31, 1997,
          and which replaced and subsumed all Company sponsored deferral plans
          or programs that existed for members of a select group of management
          Employees prior to July 31, 1997.

     (gg) "Recordkeeper" means the entity selected by the Administrator from
          time to time to maintain records of the Deferral Accounts of
          Participants and provide administrative services.

     (hh) "Retiree" means an individual who is Retired.

     (ii) "Retirement", "Retire(s)" or "Retired" means separation from
          employment from the Company for any reason other than a leave of
          absence, death or Disability on or after the earlier of the attainment
          of (i) age sixty-five (65) or (ii) age fifty-five (55) with five (5)
          Years of Service.

     (jj) "Retirement Benefit" means the type and form of payments available to
          a Participant upon Retirement as described in Section 8(b).

     (kk) "Retirement Benefit Installment Payout Dates" means, with respect to a
          deferral made by a Participant, the first day of the calendar quarter
          elected (initially or upon re-deferral pursuant to Section 8(b)(3)) by
          the Participant for the commencement of installment payments and, in
          the case of annual installments, the anniversary dates thereof and, in
          the case of quarterly installments, the first day of each calendar
          quarter thereafter, in each case through the final installment payout
          date elected by the Participant with respect to such deferral;
          provided that the first of such dates shall be (A) with respect to
          Executive Retirement Payments, not less than twelve (12) months after
          the Participant's Retirement date and (B) with respect to all other
          Retirement Benefit payments, on or after the Participant's Retirement
          date; and provided, further, that the final installment payout date
          with respect to such deferral occurs (X) no earlier than the second
          anniversary of the first installment payment and (Y) no later than the
          earlier of (I) the quarter prior to the fifteenth anniversary of the
          first installment payment and (II) the fifteenth anniversary of the
          Participant's Normal Retirement Date.

     (ll) "Retirement Benefit Lump Sum Payout Date" means, with respect to a
          deferral made by a Participant, the first day of the calendar quarter
          elected (initially or upon re-deferral pursuant to Section 8(b)(3)) by
          the Participant for a lump sum

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          payout of a Retirement Benefit; provided that such date shall be (A)
          with respect to Executive Retirement Payments, not less than twelve
          (12) months after the Participant's Retirement date and (B) with
          respect to all other Retirement Benefit payments, on or after the
          Participant's Retirement date; and provided, further, that such date
          shall be no later than the fifteenth anniversary of the Participant's
          Normal Retirement Date.

     (mm) "Retirement Eligible" means a Participant who is an Employee and who
          has attained the earlier of (i) age sixty-five (65), or (ii) age
          fifty-five (55) with five (5) Years of Service.

     (nn) "Severance Payments" means severance payments (including pension
            enhancements) payable pursuant to Change in Control severance
            agreements entered into between Wyeth and members of the Finance
            Committee, Operations Committee, and other principal elected
            corporate officers and key Employees of Wyeth, which provide for
            severance benefits to such Employees in the event of their
            termination of employment following a Change in Control.

     (oo) "Short-Term Payout" means the type of payout available to a
          Participant as described in Section 8(a).

     (pp) "Short-Term Payout Date" means, with respect to a deferral made by a
          Participant, the first day of the calendar quarter elected by the
          Participant for payment of a Short-Term Payout; provided that such
          date shall be in a Plan Year which, in the case of an initial
          election, is at least three (3) but no more than fifteen (15) years
          after the end of the Plan Year in which the deferral occurs and in the
          case of a re-deferral pursuant to Section 8(a)(2), is at least three
          (3) but not more than fifteen (15) years after the date on which the
          Short-Term Payout, but for the re-deferral, would have been paid; and
          provided, further, that in each case such date shall be no later than
          the fifteenth anniversary of the Participant's Normal Retirement Date.

     (qq) "Subsidiary(ies)" means, as to any person, any corporation,
          partnership or joint venture, of which (or in which) such person,
          together with one or more of its subsidiaries, directly or indirectly
          owns more than fifty percent (50%) of the interest in the capital or
          profits of such corporation, partnership or joint venture.

     (rr) "Trust Agreement" means an agreement between the Trustee and Wyeth
          covering a grantor trust which Wyeth may, in its sole discretion,
          establish in connection with the Plan as described in Section 9(g).

     (ss) "Trustee" means the trustee named by Wyeth from time to time as the
          trustee for the Trust Agreement.

     (tt) "Wyeth ERP" means the Wyeth Executive Retirement Plan, as amended from
          time to time.

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     (uu) "Wyeth SERP" means the Wyeth Supplemental Executive Retirement Plan,
          as amended from time to time.

     (vv) "Wyeth SESP" means the Wyeth Supplemental Employee Savings Plan, as
          amended from time to time.

     (ww) "Year of Service" shall have the same meaning as in the Wyeth
          Retirement Plan.

     (xx) "Yearly or Quarterly Installment Method" means a yearly (or quarterly)
          installment payment over the number of years (or quarters) selected by
          the Participant in accordance with the Plan, calculated as follows:
          the Deferral Account of the Participant shall be calculated as of the
          close of business on the date of reference (or, if the date of
          reference is not a business day, on the immediately following business
          day). The date of reference with respect to the first yearly (or
          quarterly) installment payment dates shall be as provided in Section
          1(kk), and the date of reference with respect to subsequent yearly (or
          quarterly) installment payment dates shall be the anniversary date or
          dates thereof in the applicable year. The yearly (or quarterly)
          installment shall be calculated by multiplying the portion of the
          Deferral Account not allocated to the Deemed Interest Investment
          Option or the Market Interest Option by a fraction, the numerator of
          which is one (1), and the denominator of which is the remaining number
          of yearly (or quarterly) payments due the Participant. By way of
          example, if the Participant elects ten (10) yearly (or forty (40)
          quarterly) installment payments, the first payment shall be one-tenth
          (1/10) (or one-fortieth (1/40)) of the Deferral Account, calculated as
          described in this definition. For the following payment, the payment
          shall be one-ninth (1/9) (or one thirty-ninth (1/39)) of the Deferral
          Account, calculated as described in this definition.

               Section Two - DEFERRALS UNDER THE PREDECESSOR PLAN

Prior to April 1, 2001, Wyeth maintained the Predecessor Plan, which allowed
members of a select group of management or highly compensated employees to defer
receipt of various types of compensation. In addition, some of those employees
had separate non-qualified plan balances consolidated into the Predecessor Plan
as of the Original Effective Date. Except as otherwise provided herein, any
Participant who has a Deferral Account as of April 1, 2001 shall continue to
have that portion of his or her Deferral Account that is in existence as of that
date governed under the Plan by the distribution provisions of the Predecessor
Plan as elected by the Participant prior to April 1, 2001.

                   Section Three - PARTICIPATION IN THE PLAN

     (a)  Participation on the Amended and Restated Effective Date. A
          Participant in the Plan on the Amended and Restated Effective Date
          shall continue to be a Participant in the Plan.

     (b)  Participation after the Amended and Restated Effective Date. An
          Employee who is an Eligible Employee on the Amended and Restated
          Effective Date but not a Participant, or an Employee who first becomes
          an Eligible Employee after the

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          Amended and Restated Effective Date during a Plan Year, may commence
          participation in the Plan as set forth in Section 3(c) and (d) below.

     (c)  Enrollment Requirements. As a condition to participation, each
          Eligible Employee who elects to participate in the Plan shall
          complete, execute, and return to the Recordkeeper such forms as are
          required from time to time by the Administrator, and all such forms
          must be submitted to the Recordkeeper within thirty (30) days (or such
          other time period as the Administrator determines in its sole
          discretion) of the date that an Employee is first notified that he or
          she is an Eligible Employee. In addition, the Administrator may
          establish from time to time such other enrollment requirements as it
          determines in its sole discretion are appropriate.

     (d)  Commencement of Participation. Except as provided in Section 3(a)
          above, once an Eligible Employee has met all of the enrollment
          requirements set forth in the Plan, including returning all required
          documents within the specified time period, the Eligible Employee
          shall commence participation in the Plan on the first day of the month
          following the month in which the Eligible Employee completes all
          enrollment requirements; provided, however, that the Administrator may
          designate, in its sole discretion, another commencement date that is
          administratively reasonable. If an Eligible Employee fails to meet all
          of the enrollment requirements within the period required in
          accordance with Section 3(c), that Employee shall not be eligible to
          participate in the Plan again until the first day of the following
          Plan Year, again subject to timely delivery to and acceptance by the
          Recordkeeper of the required forms.

                    Section Four - DEFERRALS UNDER THE PLAN

     (a)  Deferral of Base Salary and/or Bonus Compensation.

          (1)  Subject to the following sentence, for each Plan Year, a
               Participant may designate a percentage of his or her Base Salary
               and/or Bonus Compensation that is payable in a Plan Year to be
               deferred in accordance with Section 6. To be eligible to make a
               deferral of Base Salary (but not Bonus Compensation) into the
               Plan, six percent (6%) of the amount of Base Salary elected must
               be deferred in accordance with the Plan for a Plan Year to be
               deferred under the Wyeth SESP for the same Plan Year in
               accordance with the Wyeth SESP's rules. The remaining elected
               deferral amount under the Plan shall then be deferred into the
               Plan.

          (2)  For each Base Salary and/or Bonus Compensation deferral (adjusted
               to reflect Investment Earnings/Losses with respect thereto), a
               Participant shall make appropriate distribution elections in
               accordance with Section 8 below with respect to such deferral
               amounts. Notwithstanding any provision of the Plan to the
               contrary, all elections shall be required to provide for the same
               Short-Term Payout Date, Retirement Benefit Lump Sum Payout Date
               or Retirement Benefit

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          Installment Payout Dates, as the case may be, for all deferrals of
          Base Salary and Bonus Compensation in the same Plan Year.

          (3)  A deferral election described above in this Section 4(a) with
               respect to any Plan Year may not be revoked by a Participant.

     (b)  Deferral of Severance Payments.

          (1)  A Participant may designate a percentage of any Severance Payment
               that is payable in a Plan Year to be deferred in accordance with
               Section 6; provided, however, that such designation shall be
               given effect only if the Participant is Retirement Eligible at
               the time of his or her termination of employment.

          (2)  For any Severance Payment deferral (adjusted to reflect
               Investment Earnings/Losses with respect thereto), a Participant
               shall make appropriate distribution elections in accordance with
               Section 8 below with respect to each such deferral.

     (c)  Deferral of Executive Retirement Payments.

          (1)  A Participant may designate a percentage of his or her Executive
               Retirement Payments to be deferred in accordance with Section 6;
               provided, however, that such designation may not be revoked by
               the Participant but shall be given effect only if the Participant
               is Retirement Eligible at the time of his or her termination of
               employment.

          (2)  For each Executive Retirement Payment deferral (adjusted to
               reflect Investment Earnings/Losses with respect thereto), a
               Participant shall make appropriate distribution elections in
               accordance with Section 8 below. A Participant shall be permitted
               to make a separate deferral election with respect to amounts
               transferred to the Plan from the Wyeth SERP, the Wyeth ERP and
               the Wyeth SESP.

     (d)  Minimum/Maximum Amount of Deferral. For each Plan Year, a Participant
          may elect to defer Base Salary, Bonus Compensation, Severance Payments
          and Executive Retirement Payments, if applicable, under Sections 4(a),
          4(b) and 4(c) in increments of at least one percent (1%) (unless the
          Administrator determines otherwise in its sole discretion) up to a
          maximum deferral of one hundred percent (100%) of each type of
          deferral the Participant elects to make with respect to that Plan
          Year.

                   Section Five - INVESTMENT EARNINGS/LOSSES

     (a)  Investment Earnings/Losses. Amounts allocated to a Deferral Account
          shall be deemed to have realized Investment Earnings/Losses based on
          the Investment Option or Options selected from time to time by the
          respective Participants. Such Investment Earnings/Losses shall be
          credited and debited to the Deferral

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          Accounts of Participants in accordance with the debiting and crediting
          provisions of Section 7(g).

     (b)  Market Interest Option. Unless the Committee determines otherwise, the
          Investment Options shall include the "Market Interest Option." The
          Market Interest Option shall credit Investment Earnings as follows:

          (1)  For amounts allocated to the Market Interest Option on or after
               the Amended and Restated Effective Date and prior to the DRI
               Closing Date, (I) at the rate of 10% per annum, compounded
               quarterly until the day prior to the Partial Termination Date and
               (II) at the Market Rate thereafter.

          (2)  For amounts allocated to the Market Interest Option on or after
               the DRI Closing Date, at the Market Rate.

                        Section Six - DEFERRAL ELECTIONS

     (a)  Deferral Elections. All deferrals made in accordance with Section 4
          shall be evidenced by the Participant's properly executing and
          submitting such Election Forms and other forms as may be required by
          the Recordkeeper in accordance with its rules and the rules set forth
          in this Section 6.

     (b)  Deferrals of Base Salary and/or Bonus Compensation. Except for a
          Participant's first year of Plan participation, a Participant's
          election to defer Base Salary and/or Bonus Compensation in accordance
          with Section 4(a) with respect to a particular Plan Year must be
          received by the Recordkeeper no later than the last day of the
          preceding Plan Year. For a Participant's first year of Plan
          participation, deferral elections must be made in accordance with
          Section 3(c) and shall only apply to Base Salary earned and Bonus
          Compensation first determined after the election. Each Participant
          must designate on the Election Form the timing and form of
          distribution of such Base Salary and/or Bonus Compensation (adjusted
          to reflect Investment Earnings/Losses with respect thereto) in
          accordance with the distribution options described in Section 8.

     (c)  Deferrals of Severance Payments. A Participant's election to defer a
          Severance Payment in accordance with Section 4(b) must be received by
          the Recordkeeper prior to the date the applicable Change in Control
          following which a Participant becomes entitled to receive such
          Severance Payment. The Participant must designate on the Election Form
          the timing and form of distribution of the Severance Payment (adjusted
          to reflect Investment Earnings/Losses with respect thereto) in
          accordance with the options described in Section 8.

     (d)  Deferrals of Executive Retirement Payments. A Participant's election
          to defer Executive Retirement Payments in accordance with Section 4(c)
          must be received by the Recordkeeper prior to the date of the
          Participant's Retirement. The Participant must designate on the
          Election Form the timing and form of such distribution of Executive
          Retirement Payments (adjusted to reflect Investment Earnings/Losses
          with respect thereto) in accordance with the options described in

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          Section 8. Notwithstanding any other provision of the Plan to the
          contrary, an election to defer such payments shall not apply to any
          payment scheduled to commence within twelve (12) months of such
          election.

                       Section Seven - DEFERRAL ACCOUNTS

     (a)  Establishment of Deferral Accounts. The Recordkeeper shall establish
          and maintain an individual Deferral Account under the Plan on behalf
          of each Participant by or on behalf of whom deferrals have been made
          under Section 4 to track the Investment Earnings/Losses or other
          elections applicable to the Deferral Account of the Participant. The
          Deferral Account of each Participant may have subaccounts established
          and maintained as appropriate to reflect the Investment Option(s)
          and/or distribution elections selected by the Participant.

     (b)  Crediting of Amounts Deferred. A Participant's Deferral Account shall
          be credited by the Recordkeeper for deferral amounts after such
          amounts are withheld and deferred pursuant to a Participant's
          elections on the appropriate Election Form with an amount equal to the
          amounts deferred by the Participant in accordance with Section 7(g).
          Such amounts shall be allocated among the available Investment Options
          in accordance with the selections made by the Participant among the
          Investment Options pursuant to Section 7(f).

     (c)  Crediting/ Debiting of Deferral Account. In accordance with Section
          7(g) and subject to the rules and procedures that are established from
          time to time by the Administrator and/or the Recordkeeper (which may
          or may not be in writing), Investment Earnings/Losses shall be
          credited or debited to a Participant's Deferral Account.

     (d)  Election of Investment Options. A Participant, in connection with his
          or her initial deferral election under the Plan or in connection with
          the amendment and restatement of the Plan, shall elect, on the
          Election Form(s), one or more Investment Option(s) as described in
          Section 7(f) below to be used to determine the additional amounts to
          be credited or debited to his or her Deferral Account. Such elections
          shall continue to apply to his or her Deferral Account unless changed
          in accordance with the next sentence. The Participant may (but is not
          required to) elect on any business day, by submitting an Election
          Form(s) to the Recordkeeper that is accepted by the Recordkeeper
          (which submission may take the form of an electronic or telephonic
          transmission, if required or permitted by the Administrator), to add
          or delete one or more Investment Option(s) to be used to determine the
          additional amounts to be credited or debited to his or her Deferral
          Account, or to change the portion of his or her Deferral Account
          allocated to each previously or newly elected Investment Option(s). If
          an election is made in accordance with the previous sentence, it shall
          apply the next business day (unless otherwise determined by the
          Administrator) and shall continue until the Participant makes any
          changes to those elections in accordance with the previous sentence.
          Notwithstanding the foregoing, except in accordance with Section 8(h),
          in no event may a Participant elect to add or delete the Deemed Rate
          of Interest as

                                       11
<PAGE>

          an Investment Option or add amounts to or transfer amounts from that
          Investment Option, once any Retirement Benefit payment as described in
          Section 8(b) has commenced. In addition to the blackout periods and
          other restrictions set forth in the Company's Securities Transactions
          Policy, as amended from time to time, the Company may impose such
          additional restrictions on transfers by Participants in the Company
          Stock Fund as it deems necessary or advisable in order to comply with
          federal or state securities laws (including, but not limited to Rule
          16b-3 of the Securities Exchange Act of 1934, as amended). Any
          Participant subject to such restrictions shall be notified by the
          Administrator or its delegate.

     (e)  Proportionate Allocation. In making any election described in Section
          7(d) above, the Participant shall specify on the Election Form(s), in
          percentage increments of at least one percent (1%) (unless the
          Administrator determines otherwise in its sole discretion) the
          percentage of his or her Deferral Account to be allocated to an
          Investment Option.

     (f)  Investment Options. The Administrator may, in its sole discretion,
          amend or change available Investment Options. Any discontinuation of
          an Investment Option shall not take effect prior to the first day of
          the calendar quarter that follows by at least thirty (30) days the day
          on which the Administrator generally gives Participants written notice
          of such change. If any Investment Option is discontinued, Participants
          having selected such Investment Option must designate another
          Investment Option for the portion by his or her Deferral Account
          allocated thereto within the timeframe designated by the
          Administrator. A Participant may elect any new Investment Option added
          by the Administrator ten (10) business days after being notified that
          the Investment Option was added. If the Recordkeeper receives an
          initial Election Form that it deems to be incomplete, unclear or
          improper, the Participant shall be deemed to have filed no direction
          with respect thereto. If the Recordkeeper receives a revised Election
          Form that it deems to be incomplete, unclear or improper, or fails to
          receive a revised Election Form when one is required to be filed, the
          Participant's Investment Option election then in effect shall remain
          in effect, except in the case of a discontinued Investment Option, in
          which case the Participant shall be deemed to have filed no direction
          with respect thereto. Effective as of the Amended and Restated
          Effective Date, if the Recordkeeper possesses (or is deemed to possess
          as provided in the previous sentence) at any time directions as to
          Investment Options of less than all of the Participant's Deferral
          Account, the Participant shall be deemed to have elected for the
          undesignated portion of his or her Deferral Account the Market
          Interest Option or such other Investment Option as determined by the
          Administrator in its sole discretion. Each Participant hereunder, as a
          condition to his or her participation hereunder, agrees to indemnify
          and hold harmless the Committee, the Administrator, and the Company,
          and their agents and representatives, from any losses or damages of
          any kind relating to the Investment Options made available hereunder.

     (g)  Crediting or Debiting Method. The performance of each elected
          Investment Option (either positive or negative) will be determined by
          the Recordkeeper, in

                                       12
<PAGE>

          accordance with the rules established by the Administrator in its sole
          discretion, based on the performance of the actual Investment Options
          themselves. A Participant's Deferral Account shall be credited or
          debited on each business day, or as otherwise determined by the
          Recordkeeper in accordance with the rules established by the
          Administrator in its sole discretion, as though: (i) the amounts of
          the Participant's deferral election were actually deferred no later
          than the close of business on the third business day after the day on
          which (x) such amounts were otherwise payable to the Participant as
          Base Salary, Bonus Compensation, or a Severance Payment and (y) in the
          case of Executive Retirement Payments the date of the Participant's
          Retirement; (ii) a Participant's Deferral Account was actually
          invested in the Investment Options(s) selected by the Participant, in
          the percentages elected by the Participant as of such date, at the
          closing price on such date; and (iii) any distribution made to a
          Participant that decreases such Participant's Deferral Account ceased
          being invested in the Investment Options(s), in the percentages
          applicable to such day, no earlier than three (3) business days prior
          to the distribution, at the closing price on such date.

     (h)  No Actual Investment. Notwithstanding any other provision of the Plan,
          the Investment Options are to be used for measurement purposes only,
          and a Participant's election of any such Investment Options, the
          allocation to his or her Deferral Account thereto, the calculation of
          additional amounts and the crediting or debiting of such amounts to a
          Participant's Deferral Account shall not be considered or construed in
          any manner as an actual investment of his or her Deferral Account in
          any such Investment Options. In the event that Wyeth, in its
          discretion, decides to invest funds in any or all of the Investment
          Options, no Participant shall have any rights in or to such
          investments themselves. Without limiting the foregoing, a
          Participant's Deferral Account shall at all times be a bookkeeping
          entry only and shall not represent any investment made on his or her
          behalf by Wyeth or the Trust. The Participant shall at all times
          remain an unsecured creditor of Wyeth.

                         Section Eight - DISTRIBUTIONS

     (a)  Short-Term Payouts.

          (1)  Commencement of Payment of Short-Term Payouts. In connection with
               each election to defer Base Salary and/or Bonus Compensation, a
               Participant may elect to receive a "Short-Term Payout" with
               respect to each such elected deferral. Each Short-Term Payout
               shall be a lump-sum payment equal to the deferred amount, plus or
               minus Investment Earnings/Losses debited or credited thereto in
               the manner provided in Section 7(g), determined at the time the
               Short-Term Payout becomes payable. Each Short-Term Payout elected
               shall be payable on the Short-Term Payout Date designated by the
               Participant on the Election Form with respect thereto. Short-Term
               Payouts shall be made as soon as practicable after the applicable
               Short-Term Payout Date elected by the Participant on the
               applicable Election Form; provided, however, that in no event
               shall such payment be made later than thirty (30) days after the
               relevant elected date.

                                       13
<PAGE>

          (2)  Re-Deferral of Short Term Payout. Notwithstanding anything in the
               Plan to the contrary, a Participant who is an active Employee,
               may, with respect to each elected Short-Term Payout, on a form
               designated by the Recordkeeper, elect (on one or more occasions)
               to re-defer such Short-Term Payout to another allowable
               Short-Term Payout Date; provided, however, that any such
               re-deferral election shall not apply (i) unless it is accepted by
               the Recordkeeper in accordance with the rules established by the
               Administrator in its sole discretion, and (ii) to any payment
               that would have been made under a prior election within twelve
               (12) months of the date of such new election. In the event that a
               scheduled Short-Term Payout, if paid, would (or in the judgment
               of the Administrator, acting in its sole discretion, would be
               reasonably likely to) result in the loss of deductibility for
               federal income tax purposes of any compensation paid by the
               Company due to the limitations of Section 162(m) of the Code in
               any given year, then the scheduled Short-Term Payout shall be
               automatically re-deferred for a period of three (3) years.
               Subject to the foregoing, the last Election Form accepted by the
               Recordkeeper shall govern the Short-Term Payout Date of that
               Short-Term Payout (adjusted to reflect Investment Earnings/Losses
               with respect thereto).

          (3)  Changing a Short-Term Payout to a Retirement Benefit. A
               Participant may change any Short-Term Payout election up to the
               date of Retirement to an allowable Retirement Benefit payout by
               submitting a new Election Form to the Recordkeeper; provided,
               however, that any such Election Form is (i) submitted at least
               twelve (12) months prior to the Retirement Benefit Lump Sum
               Payout Date or the initial Retirement Benefit Installment Payout
               Date, as the case may be, elected by the Participant, and (ii)
               accepted by the Recordkeeper in accordance with the rules
               established by the Administrator in its sole discretion;
               provided, further, however, that such election shall not apply to
               any payment that would have been made under a prior election
               within twelve (12) months of the date of such new election.

          (4)  Re-Deferral or Changing a Short-Term Payout on or after the
               Amended and Restated Effective Date. Notwithstanding anything to
               the contrary in the Plan, on and after the Amended and Restated
               Effective Date, a Short-Term Payout election made in accordance
               with Sections 8(a)(2) or 8(a)(3) shall not apply unless (i) no
               portion of the Participant's Deferral Account subject to such
               Short-Term Payout is allocated to the Deemed Interest Investment
               Option at the time of the election and (ii) the Participant
               waives the right to allocate any portion of such amount to the
               Deemed Interest Investment Option at any time on or after such
               election.

     (b)  Retirement Benefit Payout.

          (1)  Commencement of Retirement Benefit. A Participant who Retires
               shall receive, as a "Retirement Benefit", the portion of his or
               her Deferral Account that he or she has not elected to be
               distributed in the form of a Short-Term Payout, or that is not
               distributed in accordance with another provision of the Plan as a
               result

                                       14
<PAGE>

               of the Participant's death, Disability or termination of
               employment prior to Retirement.

          (2)  Time of Payment of Retirement Benefit. An active Participant, in
               connection with each type of deferral of Retirement Benefits,
               shall elect to receive that deferral (adjusted to reflect
               Investment Earnings/Losses with respect thereto) on either a
               Retirement Benefit Lump Sum Payout Date or on Retirement Benefit
               Installment Payout Dates elected by such Participant. A
               Participant may change any Retirement Benefit payout election up
               to the date of Retirement to an allowable alternative Retirement
               Benefit payout date or dates by submitting a new Election Form to
               the Recordkeeper; provided that any such Election Form is (i)
               submitted at least twelve (12) months prior to the Retirement
               Benefit Lump Sum Payout Date or the initial Retirement Benefit
               Installment Payout Date, as the case may be, elected by the
               Participant, and (ii) accepted by the Recordkeeper in accordance
               with rules established by the Administrator in its sole
               discretion; and provided, further, that such election shall not
               apply to any payments that would have been made under a prior
               election or the terms of any other plan within twelve (12) months
               of the date of such new election. The last Election Form accepted
               by the Recordkeeper shall govern the payout date or dates of that
               Retirement Benefit (adjusted to reflect Investment
               Earnings/Losses with respect thereto).

          (3)  Re-deferral of Retirement Benefits. A Retired Participant may
               elect to re-defer Retirement Benefits prior to the commencement
               of any payments thereof to another allowable Retirement Benefit
               Lump Sum Payout Date or other allowable Retirement Benefit
               Installment Payout Dates; provided, however, that such
               re-deferral election shall not apply (i) to any Retiree to whom
               payment of any Retirement Benefit has already commenced and (ii)
               unless it is accepted by the Recordkeeper in accordance with the
               rules established by the Administrator in its sole discretion;
               provided, further, however, that such re-deferral election shall
               not apply to any payments that would have been made under a prior
               election or the terms of any other plan within twelve (12) months
               of the date of such new election.

          (4)  Form of Distribution of Retirement Benefits. A Participant, in
               connection with each deferral of Retirement Benefits, shall elect
               to receive the deferral (adjusted to reflect Investment
               Earnings/Losses with respect thereto) in a lump sum on a
               Retirement Benefit Lump Sum Payout Date elected by the
               Participant or in quarterly or yearly installment payments on
               Retirement Benefit Installment Payout Dates elected by the
               Participant. A Participant may change his or her election up to
               the date of Retirement to an allowable alternative form of payout
               by submitting a new Election Form to the Recordkeeper; provided,
               however, that any such Election Form is (i) submitted at least
               twelve (12) months prior to the Retirement Benefit Lump Sum
               Payout Date or the initial Retirement Benefit Installment Payout
               Date, as the case may be, elected by the Participant, and (ii)
               accepted by the Recordkeeper in accordance with rules established
               by the Administrator in its sole discretion; provided, further,
               however, that such election

                                       15
<PAGE>

               shall not apply to any payments that would have been made under a
               prior election or the terms of any other plan within twelve (12)
               months of the date of such new election. (Changes may not be made
               after Retirement except in accordance with Section 8(b)(3).) The
               Election Form last accepted by the Recordkeeper shall govern the
               form of a Retirement Benefit (adjusted to reflect Investment
               Earnings/Losses with respect thereto). Retirement Benefit
               payments shall be made as soon as practicable after the
               applicable Retirement Benefit Lump Sum Payout Date or Retirement
               Benefit Installment Payout Dates elected by the Participant on
               the applicable Election Form; provided, however, that in no event
               shall such payments be made later than thirty (30) days after the
               relevant elected dates.

          (5)  Installment Payments for Retirement Benefits Allocated to
               Investment Options (Other than the Deemed Interest Investment
               Option or the Market Interest Option). The amount of each
               installment payment with respect to the portion of a Deferral
               Account that is allocated to an Investment Option (other than the
               Deemed Interest Investment Option or the Market Interest Option)
               shall be determined by the Yearly Installment Method, if the
               Participant elected to receive annual installments or the
               Quarterly Installment Method, if the Participant elected to
               receive quarterly installments.

          (6)  Installment Payments for Retirement Benefits Allocated to the
               Market Interest Option. The amount of each installment payment
               with respect to the portion of a Deferral Account that is
               allocated to the Market Interest Option shall be determined by
               the following annuity methodology. The amount of each installment
               payment shall be calculated by the Recordkeeper as an annuity at
               the beginning of the installment payout period elected by the
               Participant and shall be recalculated each time there is a change
               in the Market Rate or the Participant transfers an amount into or
               out of the Market Interest Option, based on: (i) the balance of
               the applicable portion of the Participant's Deferral Account that
               is allocated to the Market Interest Option (adjusted to reflect
               interest at the Market Rate then in effect in accordance with
               clause (iii)) immediately following the date of the change in the
               Market Rate or the Participant's transfer as applicable, (ii) the
               number of remaining installments, (iii) the Market Rate in effect
               at the time of the calculation (assuming that the Market Rate
               will remain unchanged throughout the payout period), and (iv) a
               final value of the portion of the Participant's Deferral Account
               allocated to the Market Interest Option of zero dollars ($0).

          (7)  Installment Payments for Retirement Benefits Allocated to the
               Deemed Interest Investment Option. Subject to Section 8(h), the
               amount of each installment payment with respect to the portion of
               a Deferral Account that is allocated to the Deemed Interest
               Investment Option shall be determined by the following annuity
               methodology. The amount of each installment payment shall be
               calculated by the Recordkeeper as an annuity at the beginning of
               the installment payout period elected by the Participant, based
               on: (i) the balance of the applicable portion of the Deferral
               Account that is allocated to the Deemed Interest Investment
               Option (adjusted to reflect Deemed Interest with respect

                                       16
<PAGE>

               thereto) on the business day prior to the payout date of each
               installment, (ii) the number of remaining installments, (iii) the
               Deemed Rate of Interest then in effect, and (iv) a final value of
               zero dollars ($0). All amounts allocated to the Deemed Interest
               Investment Option will be distributed to Participants as soon as
               practicable following the Partial Termination Date pursuant to
               Section 8(h), and this Section 8(b)(7) will cease to be
               applicable on or after the Partial Termination Date.

     (c)  Payment Upon Separation From Service. Notwithstanding anything in the
          Plan to the contrary, in the event a Participant terminates employment
          with the Company for reasons other than Retirement, death or
          Disability, or in the event that any Subsidiary that employs a
          Participant ceases to be a wholly-owned Subsidiary of Wyeth, the
          entire balance of the Participant's Deferral Account (adjusted to
          reflect Investment Earnings/Losses with respect thereto) shall be
          distributed to the Participant in a single lump sum within ninety (90)
          days thereafter. The foregoing shall not apply in the case of a
          Participant who is Retirement Eligible as of his or her date of
          termination of employment or the date on which such Subsidiary ceases
          to be a wholly-owned Subsidiary of Wyeth, as the case may be.

     (d)  Payment Upon Death. Notwithstanding anything in the Plan to the
          contrary, in the event a Participant dies prior to the receipt of any
          or all of his or her Deferral Account, the balance of such account
          shall be distributed in a single lump sum to the Participant's
          Beneficiary(ies) within ninety (90) days following the date the
          Administrator is notified of his or her death.

     (e)  Acceleration of Payments.

          (1)  Acceleration of Payments Following a Change in Control.
               Notwithstanding anything in the Plan to the contrary, during the
               twenty-four (24) month period following a Change in Control, a
               Participant may elect to accelerate any or all payments not
               currently due under the Plan to a single sum payment to be made
               on (i) a date that is at least twelve (12) months subsequent to
               such election, without a penalty or forfeiture, or (ii) with the
               imposition of a withdrawal penalty equal to six percent (6%) of
               the accelerated payment, any date within twelve (12) months of
               such election. Payments shall be made as soon as practicable
               after the date elected for payment; provided, however, that in no
               event shall payment be made later than thirty (30) days
               thereafter.

          (2)  Acceleration of Payments with a Ten Percent Penalty.
               Notwithstanding anything in the Plan to the contrary, a
               Participant may elect at any time to accelerate any or all
               payments not currently due under the Plan to a single sum payment
               with the imposition of a withdrawal penalty equal to ten percent
               (10%) of the Participant's entire Deferral Account calculated
               immediately prior to the withdrawal. As of the date of the
               withdrawal, and for the remainder of the Plan Year, any Base
               Salary or Bonus Compensation deferral elections made by the
               Participant for the Plan Year in which the withdrawal occurs in
               accordance with Section 6(b) then in effect shall be cancelled
               with respect to any amounts not

                                       17
<PAGE>

               credited to the Participant's Deferral Account as of the date of
               the withdrawal. Payment of the withdrawn amount shall be made as
               soon as practicable after the date of the Participant's election;
               provided, however, that in no event shall payment be made later
               than thirty (30) days thereafter.

     (f)  Disability Waiver.

          (1)  Waiver of Deferral. A Participant who is determined by the
               Administrator to be suffering from a Disability shall be excused
               from fulfilling that portion of any current deferral election
               that would otherwise have been withheld for the Plan Year during
               which the Participant first suffers a Disability. During the
               period of Disability, the Participant shall not be allowed to
               make any additional deferral elections, but will continue to be
               considered a Participant for all other purposes of the Plan.

          (2)  Return to Work. If a Participant returns to employment with the
               Company after a Disability ceases, the Participant may elect to
               defer additional amounts in accordance with the Plan for the Plan
               Year following his or her return to employment or service and for
               every Plan Year thereafter while an Eligible Employee and
               Participant, provided such deferral elections are otherwise
               allowed and an Election Form is delivered to and accepted by the
               Recordkeeper.

          (3)  Continued Eligibility; Disability Benefit. A Participant
               suffering a Disability shall, for benefit purposes under the
               Plan, continue to be considered to remain a Participant to be
               eligible for the benefits provided for in this Section 8 in
               accordance with its provisions. Notwithstanding the above, the
               Administrator shall have the right to, in its sole discretion and
               for purposes of the Plan only, with respect to a Participant who
               has been determined to have suffered a Disability, pay out his or
               her Deferral Account balance in a lump sum.

     (g)  Other Distributions. Subject to Section 8(h), any distributions that
          are required to be made due to the provisions of the Predecessor Plan
          with respect to a type of deferral no longer eligible to be deferred
          as of the Amended and Restated Effective Date, shall be made in
          accordance with Section 2.

     (h)  Distribution on Partial Termination of Deemed Interest Investment
          Option. Notwithstanding anything to the contrary in the Plan, the Plan
          will partially terminate on the Partial Termination Date with respect
          to all amounts allocated to the Deemed Interest Investment Option on
          such date and each Participant will receive a cash lump sum payment as
          soon as practicable following the Partial Termination Date equal to
          the portion of his or her Deferral Account, if any, allocated to the
          Deemed Interest Investment Option on the Partial Termination Date. The
          provisions of this Section 8(h) shall supersede and replace any Plan
          election by a Participant to the contrary. Each Participant may elect
          on or before the DRI Election Date, by submitting a Partial
          Termination Election Form to the Recordkeeper that is accepted by the
          Recordkeeper, to transfer all or a part of the portion of his or her
          Deferral Account that is allocated to the Deemed Interest

                                       18
<PAGE>

          Investment Option to another Investment Option(s). The last Partial
          Termination Election Form accepted by the Recordkeeper by the DRI
          Election Date from a Participant shall revoke any and all prior
          Partial Termination Election Forms received by the Recordkeeper from
          such Participant and shall govern the Participant's election in
          accordance with this Section 8(h). No Partial Termination Election
          Form will be accepted by the Recordkeeper after the DRI Election Date
          and no Participant may revoke or amend a Partial Termination Election
          Form after the DRI Election Date. Any Base Salary deferrals that are
          credited to a Participant's Deferral Account after the DRI Election
          Date and on or before December 31, 2003 will be allocated
          proportionately in accordance with the Participant's election under
          this Section 8(h).

                          Section Nine - MISCELLANEOUS

     (a)  Funding of the Plan. The Plan is unfunded and Wyeth has no obligation
          to set aside, earmark, or place in trust any funds with which to pay
          its obligations under the Plan. Wyeth's obligation under the Plan
          shall not be secured in any way and a Participant's rights shall not
          be secured in any way and a Participant's rights shall in no way be
          preferred over the general creditors of Wyeth.

     (b)  Employment. Neither the Plan nor any agreement, document, form or
          instrument delivered or entered into pursuant hereto constitutes an
          employment contract between the Company and a Participant. Nothing
          herein or therein shall be construed to give a Participant the right
          to be retained in the service of the Company, nor interfere with the
          right of the Company to terminate or discipline a Participant at any
          time.

     (c)  Governing Law. The Plan shall be construed and interpreted under the
          laws of the State of New Jersey and applicable provisions of federal
          law.

     (d)  Taxes. The Company shall have the right to deduct from distributions
          otherwise payable from any deferral under the Plan any taxes required
          to be withheld under federal, state, or local law. For each Plan Year
          in which a deferral is being deducted for a Participant, the Company
          shall withhold from that portion of the Participant's Base Salary
          and/or Bonus Compensation that is not being deferred, in a manner
          determined by the Company, the Participant's share of FICA and other
          employment taxes on such deferral amounts. If necessary, the Company
          may reduce any amount deferred in order to comply with this Section.

     (e)  Non-Assignable. A Participant's right to receive the amounts in his or
          her Deferral Account under the Plan may not be anticipated, assigned
          (either at law or equity), alienated, pledged, encumbered, or
          subjected to attachment, garnishment, levy, execution, or other legal
          process, and any attempt to effect any of the foregoing shall be void.

     (f)  Minors and Incompetents. If the Administrator determines that any
          person to whom a payment is due hereunder is a minor or incompetent by
          reason of

                                       19
<PAGE>

          physical or mental disability, the Administrator shall have the power
          to cause the payments then due to such person to be made to another
          for the benefit of the minor or incompetent, without responsibility of
          the Company, the Committee, the Administrator or the Recordkeeper to
          see to the application of such payment, unless claim prior to such
          payment is made therefor by a duly appointed legal representative.
          Payments made pursuant to such power shall operate as a complete
          discharge of the Company, the Committee, and the Administrator.

     (g)  Trust Fund. In connection with the Plan, Wyeth may, but shall not be
          required to, establish a grantor trust for the purpose of accumulating
          funds to satisfy the obligations incurred by Wyeth under the Plan. At
          any time, Wyeth may transfer assets to the trust to satisfy all or
          part of the obligations incurred by Wyeth, subject to the return of
          such assets at a time as determined in accordance with the terms of
          such trust. Any assets of the trust shall remain at all times subject
          to the claims of creditors of Wyeth in the event of Wyeth's
          insolvency, and no asset or other funding medium used to pay benefits
          accrued under the Plan shall result in the Plan not being considered
          as "unfunded" under ERISA. Notwithstanding the establishment of the
          trust, the right of any Participant to receive future payments under
          the Plan shall remain an unsecured claim against the general assets of
          Wyeth.

     (h)  Severability. In the event any provision of the Plan shall be held
          illegal or invalid for any reason or the Committee shall determine
          that any provision of the Plan would cause any Participant to be in
          constructive receipt for federal or state income tax purposes of any
          portion of his or her Deferral Account, then such provision will be
          considered null and void and the Plan shall be constructed and
          enforced as if the provision had not been included in the Plan as of
          the date such provision was determined to be illegal, invalid or to
          have the potential to cause a Participant to be in constructive
          receipt of a portion of his or her Deferral Account. Notwithstanding
          anything in the Plan to the contrary, the Committee reserves the right
          to amend, modify, cancel or rescind any Participant election or other
          action taken under the Plan by a Participant with respect to such
          Participant's Deferral Account in the event the Committee determines
          that such election or other action is or would be prohibited by any
          applicable law or that such election or other action would cause any
          Participant to be in constructive receipt for federal or state income
          tax purposes of any portion of his or her Deferral Account under any
          such law.

     (i)  Beneficiary. Each Participant shall have the right, at any time, to
          designate his or her Beneficiary(ies) (both primary as well as
          contingent) to receive any benefits payable under the Plan upon the
          death of a Participant. The Beneficiary(ies) designated under the Plan
          may be the same as or different from the Beneficiary designation under
          any other plan of Wyeth in which the Participant participates. A
          Participant shall designate his or her Beneficiary(ies) by completing
          and signing the beneficiary designation form, and returning it to the
          Administrator or its designated agent. A Participant shall have the
          right to change his or her Beneficiary(ies) by completing, signing and
          otherwise complying with the terms

                                       20
<PAGE>

          of the beneficiary designation form and the Administrator's rules and
          procedures, as in effect from time to time. Upon the acceptance by the
          Administrator of a new beneficiary designation form, all Beneficiary
          designations previously filed shall be canceled. The Administrator
          shall be entitled to rely on the last beneficiary designation form
          filed by the Participant and accepted by the Administrator prior to
          his or her death. No designation or change in designation of a
          Beneficiary shall be effective until received and acknowledged in
          writing by the Administrator or its designated agent. If a Participant
          fails to designate a Beneficiary(ies) as provided above or, if all
          designated Beneficiaries predecease the Participant or die prior to
          complete distribution of the Participant's benefits, then the benefits
          remaining under the Plan to be paid to a Beneficiary shall be payable
          to the executor or personal representative of the Participant's
          estate.

     (j)  Insurance. Wyeth, on its own behalf or on behalf of the Trustee of the
          trust, and, in its sole discretion, may apply for and procure
          insurance on the life of some or all Participants, in such amounts and
          in such forms as Wyeth may choose. Wyeth or the Trustee of the trust,
          as the case may be, shall be the sole owner and beneficiary of any
          such insurance. The Participant shall have no interest whatsoever in
          any such policy or policies, and at the request of Wyeth shall submit
          to medical examinations and supply such information and execute such
          documents as may be required by the insurance company or companies to
          whom Wyeth has applied for insurance.

                        Section Ten - EMERGENCY BENEFIT

In the event that the Administrator, upon the written request of the
Participant, determines that the Participant has suffered an unforeseeable
financial emergency, the Administrator shall in accordance with the request of
the Participant (i) pay to the Participant as soon as possible following such
determination, an amount not in excess of the amount needed to satisfy the
emergency and any taxes payable on those amounts, and/or (ii) suspend any
deferrals required to be made to the Plan by the Participant. The Participant
making the request must document to the satisfaction of the Administrator that
the distribution of the amount requested is necessary to satisfy the financial
emergency and the amount requested is not in excess of the amount needed to
satisfy the emergency and the taxes payable on those amounts. For this purpose,
an "unforeseeable financial emergency" means an unanticipated emergency that is
caused by an event beyond the control of the Employee that would result in
severe financial hardship if the emergency distribution were not permitted and
would include (i) a sudden and unexpected illness or accident of the Participant
or a dependent of the Participant, (ii) a loss of the Participant's property due
to casualty, or (iii) such other extraordinary and unforeseeable circumstances
arising as a result of events beyond the control of the Participant, all as
determined in the sole discretion of the Administrator.

                  Section Eleven - ADMINISTRATION OF THE PLAN

The Plan shall be administered by the Administrator which shall have full
discretionary authority to interpret the Plan; to make all determinations as may
be necessary or advisable; and to adopt, amend or rescind any rules,
regulations, and procedures as it deems necessary or appropriate for

                                       21
<PAGE>

the administration of the Plan. The interpretations, determinations, actions,
and decisions of the Administrator shall be binding and conclusive for all
purposes and upon all persons. The Administrator may delegate part or all of its
responsibilities under the Plan to such party or parties as it may deem
necessary or appropriate.

                   Section Twelve - AMENDMENT AND TERMINATION

The Board of Directors may amend or revise the terms of the Plan from time to
time, or may discontinue the Plan, in whole or in part, at any time. However,
such amendment, revision or discontinuance of the Plan may not adversely affect
a Participant's benefit(s) accrued under the Plan prior to the date of such
action.

                      Section Thirteen - CLAIMS PROCEDURE

If a Participant does not receive the timely payment of the benefits that he or
she believes are due under the Plan, the Participant may make a claim for
benefits in the manner hereinafter provided.

All claims for benefits under the Plan shall be made in writing and shall be
signed by the Participant. Claims shall be submitted to the Administrator. If
the Participant does not furnish sufficient information with the claim for the
Administrator to determine the validity of the claim, the Administrator shall
indicate to the Participant any additional information, which is necessary for
the Administrator to determine the validity of the claim. Each claim hereunder
shall be acted on and approved or disapproved by the Administrator within ninety
(90) days following the receipt by the Administrator of the information
necessary to process the claim. In the event the Administrator denies a claim
for benefits in whole or in part, the Administrator shall notify the Participant
in writing of the denial of the claim and notify the Participant of his right to
a review of the Administrator's decision by the Committee or such entity or
person delegated such authority by the Committee. Such notice by the
Administrator shall also set forth, in a manner calculated to be understood by
the Participant, the specific reason for such denial, the specific provisions of
the Plan on which the denial is based, and a description of any additional
material or information necessary to perfect the claim, with an explanation of
the Plan's appeals procedure as set forth in this Section 13. If the
Administrator takes no action on a Participant's claim within ninety (90) days
after receipt by the Administrator, such claim shall be deemed to be denied for
purposes of the following appeals procedure. Any Participant whose claim for
benefits is denied in whole or in part may appeal for a review of the decision
by the Administrator. Such appeal must be made within three (3) months after the
applicant has received actual or constructive notice of the denial as provided
above. An appeal must be submitted in writing within such period and must:

     (a)  request a review by the Administrator of the claim for benefits under
          the Plan;

     (b)  set forth all of the grounds upon which the Participant's request for
          review is based or any facts in support thereof; and

     (c)  set forth any issues or comments that the Participant deems pertinent
          to the appeal.

                                       22
<PAGE>

The Administrator shall act upon each appeal within sixty (60) days after
receipt thereof unless special circumstances require an extension of the time
for processing, in which case a decision shall be rendered by the Administrator
as soon as possible but not later than one hundred and twenty (120) days after
the appeal is received. The Administrator may require the Participant to submit
such additional facts, documents or other evidence as the Administrator in its
discretion deems necessary or advisable in making its review. The Participant
shall be given the opportunity to review pertinent documents or materials upon
submission of a written request to the Administrator, provided the Administrator
finds the requested documents or materials are pertinent to the appeal. On the
basis of its review, the Administrator shall make an independent determination
of the Participant's eligibility for benefits under the Plan. The decision of
the Administrator on any appeal of a claim for benefits shall be final and
conclusive upon all parties thereto. In the event the Administrator denies an
appeal in whole or in part, it shall give written notice of the decision to the
Participant, which notice shall set forth, in a manner calculated to be
understood by the Participant, the specific reasons for such denial and which
shall make specific reference to the pertinent provisions of the Plan on which
the Administrator's decision is based.

                                       23
<PAGE>

Wyeth

DEFERRED COMPENSATION PLAN

APPENDIX A

INVESTMENT OPTIONS

1.   Balanced Portfolio

2.   S&P 500 Index Portfolio or Total Stock Market Index Portfolio

3.   International Equity Portfolio

4.   Deemed Interest Option " a hypothetical investment option which earns
     interest at the Deemed Rate of Interest

5.   Company Stock Fund

6.   Market Interest Option

7.   Large Cap Value Portfolio

8.   Large Cap Portfolio

9.   Small Cap Value Portfolio2003  SEC  Form  10-K  Exhibit  10-d-40

PERSONAL  AND  CONFIDENTIAL

February  10,  2004

Christopher  L.  Dutton
President  and  Chief  Executive  Officer
Green  Mountain  Power  Corporation
163  Acorn  Lane
Colchester,  VT  05446

Dear  Chris:

     Green  Mountain Power Corporation (the "Company") considers it essential to
the  best  interests  of its shareholders to foster the continuous employment of
key  management  personnel.  In  addition, the Board of Directors of the Company
(the  "Board")  recognizes  that  the  possibility of a change of control of the
Company  may  exist  and  the uncertainty and questions which it may raise among
management may result in the distraction or departure of management personnel to
the  detriment  of  the  Company  and  its  shareholders.

     The  Board  has  determined  that  appropriate  steps  should  be  taken to
reinforce and encourage the continued attention and dedication of members of the
Company's  management,  including  yourself,  to  their  assigned duties without
distraction  in  the  face  of  the  possibility  of  a change in control of the
Company,  although  no  such  change  is  known  to  be  contemplated.

     In  order  to  induce  you  to  remain  in the employ of the Company and in
consideration of your agreements set forth in subsections 4(ii), 6(ix), 6(x) and
6(xi)  hereof,  the Company agrees that you shall receive the severance benefits
set  forth  in  this  Agreement in the event your employment with the Company is
terminated  subsequent  to  a  "change in control of the Company" (as defined in
section  4 hereof and hereinafter a "Change of Control") under the circumstances
described  below.

1.     Term  of  Agreement.  This  Agreement shall commence on February 15, 2004
       -------------------
Date")  and  shall  continue  in  effect  through  December  31, 2004; provided,
however,  that  commencing on January 1, 2005 and each January 1 thereafter, the
term  of  this Agreement shall automatically be extended for one additional year
unless,  not  later  than  September 30 of the preceding year, the Company shall
have  given  notice  that  it  does  not  wish  to  extend this Agreement.  This
Agreement shall replace, in its entirety, the Agreement, dated October 31, 2001,
as  amended,  between  you  and  the  Company.

2.     Terms  of  Employment  Before  a Change of Control.  Prior to a Change of
       --------------------------------------------------
Control,  your  terms of employment ("Terms of Employment") shall be as follows:

(a)     General  duties.  Excluding  periods of vacation and sick leave to which
you  are entitled, you will continue to exercise such authority and perform such
executive  duties  as  are  commensurate  with the authority being exercised and
duties  being  performed  by  you  immediately  before  the  Effective  Date.

(b)     Place  of  employment.  Your  services will be performed at the location
where  you  were employed immediately before the Effective Date.  If the Company
and  you  agree, however, the location of your employment may be changed without
affecting  your  rights  under  this  Agreement.

(c)     Expenses  generally.  You  are  entitled to receive prompt reimbursement
for all reasonable expenses you incur.  Reimbursement must be made in accordance
with  the  Company's  policies  and  procedures  in effect on the Effective Date
(which  may  include a requirement that you submit an itemized expense voucher).

(d)     Meetings,  conventions,  and  seminars.  You  are  encouraged  and  are
expected  to  attend  seminars,  professional  meetings  and  conventions,  and
educational  courses.  The  cost  of  travel, tuition or registration, food, and
lodging for attending those activities must be paid by the Company.  Other costs
are  your  expense,  unless  the Company authorizes those costs.  If those other
costs  are  authorized  expenses,  you  must  be reimbursed after satisfying the
Company's  policies  and  procedures for such reimbursement (which may include a
requirement  that  you  submit  an  itemized  expense  voucher).

(e)     Promotional expenses.  You are encouraged and are expected, from time to
time,  to  incur reasonable expenses for promoting the Company's business.  Such
promotional  expenses  include  travel,  entertainment (including memberships in
social  and  athletic  clubs),  professional  advancement, and community service
expenses.  You  agree  to  bear  those  expenses except to the extent that those
expenses  are incurred at the Company's specific direction or those expenses are
specifically  authorized  by  the  Company  as expenses that the Company may pay
directly  or  indirectly  through  reimbursement  to  you.

(f)     Outside  activities.  You  may  (i)  serve  on  corporate,  civic,  or
charitable  boards  or  committees;  (ii)  deliver  lectures,  fulfill  speaking
engagements,  or  teach  at  educational institutions; and (iii) manage personal
investments.  Such  activities  must  not  significantly  interfere  with  the
performance  of  your  responsibilities for the Company.  To the extent that any
such activities have been conducted by you before the Effective Date, such prior
conduct of activities and any subsequent conduct of activities similar in nature
and  scope  may  not  be  deemed  to  interfere  with  the  performance  of your
responsibilities  to  the  Company.

(g)     Compensation  and  fringe  benefits.  Your  compensation (including your
annual  base  salary  and  any  bonuses  or incentive compensation) and benefits
generally  are  the  same  as  those  in  effect  on  the  Effective Date.  Your
compensation  and  benefits  are,  however,  subject  to  periodic  review  and
adjustment  by  the Company.  This section of this Agreement does not change the
terms  of  any fringe benefit program or employee benefit plan maintained by the
Company and does not give you any additional vested interest in any compensation
or  benefit to which you are not already entitled under any such program or plan
on  the  Effective  Date.  Generally, your benefits include the following items,
all of which are subject to periodic review and adjustment: (i) You are entitled
to  receive  all  group  life,  accidental  death  and  dismemberment, long-term
disability, and medical insurance benefits available to you according to Company
policies and employee benefit plans maintained by the Company that are in effect
on the Effective Date; (ii) You are entitled to paid vacation in accordance with
the  Company's  policies in effect on the Effective Date; (iii) You are entitled
to  sick  leave  in  accordance  with  the  Company's  policies in effect on the
Effective Date; and (iv) You are entitled to participate in all employee benefit
plans  and  programs  in which you participate on the Effective Date, whether or
not  such plans or programs are subject to the Employee Retirement Income Act of
1974,  as  amended  ("ERISA"),  including  but  not  limited  to  the  Company's
Retirement  Plan,  Supplemental  Retirement Plan or any successor plans thereto,
any  incentive  compensation  plans  maintained  by the Company or any successor
thereto,  the  Company's Deferred Compensation Plan for Certain Officers and any
stock-based  compensation  plans  maintained  by  the Company or successor plans
thereto  and  any  savings  or  thrift  plan  maintained  by  the  Company,

3.     Extension  of  Agreement  Upon Change of Control.  If a Change of Control
       ------------------------------------------------
shall have occurred during the original or extended term of this Agreement, this
Agreement  shall  continue  in  effect  for a period of at least thirty-six (36)
months  beyond the month in which such Change of Control occurred.  The Terms of
Employment  set  forth in section 2 continue in effect after a Change of Control
and  may  not  be  changed  to terms and conditions less favorable than those in
effect  on  the  day  immediately  preceding  a  Change  of  Control.

4.     Change  of  Control.
       -------------------

     (i)     No benefits shall be payable hereunder unless there shall have been
a  Change  of  Control,  as  set forth below.  For purposes of this Agreement, a
Change  of Control shall be deemed to have occurred if (A) any "person" (as such
term is used in sections 13(d) and 14(d) of the Securities Exchange Act of 1934,
as  amended  (the  "Exchange  Act")),  other  than  a trustee or other fiduciary
holding  securities  under  an  employee  benefit  plan  of  the  Company  or  a
corporation owned, directly or indirectly, by the shareholders of the Company in
substantially  the  same proportions as their ownership of stock of the Company,
is  or  becomes  the  "beneficial  owner"  (as  defined  in Rule 13d-3 under the
Exchange Act), directly or indirectly, of securities of the Company representing
20%  or  more  of  the  combined  voting power of the Company's then outstanding
securities  (a  "20% Holder"); or (B) during any period of two consecutive years
(not including any period prior to the execution of this Agreement), individuals
who  at  the  beginning  of such period constitute the Board of Directors of the
Company  (the "Board") and any new director (other than a director designated by
a  person  who  has  entered  into  an  agreement  with  the Company to effect a
transaction  described  in clauses (A) or (C) of this subsection) whose election
by  the  Board  or  nomination  for  election  by the Company's shareholders was
approved  by  a vote of at least two-thirds (2/3) of the directors then still in
office  who  either  were  directors  at  the  beginning  of the period or whose
election  or  nomination  for election was previously so approved, cease for any
reason  to  constitute  a  majority  of the directors of the Company; or (C) the
shareholders  of  the  Company  approve a merger or consolidation of the Company
with  any  other  corporation,  other than a merger or consolidation which would
result  in  the  voting  securities of the Company outstanding immediately prior
thereto  continuing  to  represent  (either by remaining outstanding or by being
converted  into  voting  securities of the surviving entity) at least 80% of the
combined  voting power of the voting securities of the Company or such surviving
entity  outstanding  immediately  after  such  merger  or  consolidation, or the
shareholders  of  the  Company  approve  a  plan  of complete liquidation of the
Company  or  an  agreement  for the sale or disposition by the Company of all or
substantially  all  the  Company's  assets;  provided, however, that a Change of
Control shall not be deemed to have occurred under clauses (A) or (C) above if a
majority  of  the  Continuing Directors (as defined below) determine within five
business  days after the occurrence of any event specified in clauses (A) or (C)
above  that  control of the Company has not in fact changed and it is reasonably
expected  that  such  control  of  the  Company  in  fact  will  not  change.
Notwithstanding that, in the case of clause (A) above, the Board shall have made
a  determination  of  the  nature  described in the preceding sentence, if there
shall  thereafter  occur any material change in facts involving, or relating to,
the  20%  Holder  or to the 20% Holder's relationship to the Company, including,
without  limitation,  the acquisition by the 20% Holder of l% or more additional
outstanding  voting stock of the Company, the occurrence of such material change
in  facts  shall  result  in  a  new  Change  of Control for the purpose of this
Agreement.  In  such  event,  the  second  immediately preceding sentence hereof
shall  be  effective.  As used herein, the term "Continuing Director" shall mean
any  member  of  the  Board on the date of this Agreement and any successor of a
Continuing  Director  who is recommended to succeed the Continuing Director by a
majority  of  Continuing  Directors.  If, following a Change of Control, you are
the  beneficial  owner  of  two  percent  or more of the then-outstanding equity
securities  of  the  Company,  or  its  successor in interest, a majority of the
Continuing  Directors  may elect, within five business days after such Change of
Control, to terminate any benefits payable to you under this Agreement after the
date  of  such  an  election  by  the  Continuing  Directors.

     (ii)     For  purposes  of  this Agreement, a "Potential Change of Control"
shall  be  deemed  to have occurred if (A) the Company enters into an agreement,
the consummation of which would result in the occurrence of a Change of Control;
(B)  any  person (including the Company) publicly announces an intention to take
or  to consider taking actions which if consummated would constitute a Change of
Control;  (C)  any  person,  other  than  a  trustee  or other fiduciary holding
securities under an employee benefit plan of the Company or a corporation owned,
directly  or indirectly, by the shareholders of the Company in substantially the
same  proportion  as  their  ownership  of  stock  of  the  Company, becomes the
beneficial  owner,  directly  or  indirectly,  of  securities  of  the  Company
representing  5%  or  more  of  the  combined voting power of the Company's then
outstanding securities; or (D) the Board adopts a resolution to the effect that,
for purposes of this Agreement, a Potential Change of Control has occurred.  You
agree  that, subject to the terms and conditions of this Agreement, in the event
of  a  Potential Change of Control, you will remain in the employ of the Company
until  the earliest of (i) a date which is six (6) months from the occurrence of
such Potential Change of Control, (ii) the termination by you of your employment
by reason of Long-Term Disability or Retirement (at your normal retirement age),
as  defined  in subsection 5(i), or (iii) the occurrence of a Change of Control.

<PAGE>
5.     Termination  Following Change of Control.  If any of the events described
       ----------------------------------------
in  subsection 4(i) hereof constituting a Change of Control shall have occurred,
you  shall be entitled to the benefits provided in subsection 6(iii) hereof upon
the  subsequent termination of your employment during the term of this Agreement
unless  such  termination  is (A) because of your death, Long-Term Disability or
Retirement,  (B)  by  the  Company  for Cause, or (C) by you other than for Good
Reason.

     (i)     Death,  Long-Term  Disability,  or  Retirement.  If, as a result of
your  incapacity  due  to  physical  or mental illness which is determined to be
total  and  permanent  and  to  prevent  you  from  performing,  with or without
reasonable  accommodation,  the  essential  functions  of  your  employment by a
physician  and any other consultants selected by the Company or its insurers and
acceptable  to you or your legal representative, you shall have been absent from
the  full-time  performance  of  your  duties  with  the  Company  for  six  (6)
consecutive  months,  and  within  thirty  (30)  days  after  written  notice of
termination is given you shall not have returned to the full-time performance of
your  duties,  your  employment  may  be terminated for "Long -Term Disability".
Termination by the Company or you of your employment based on "Retirement" shall
mean  termination  in accordance with the Company's retirement policy, including
early  retirement,  generally  applicable  to  its  salaried  employees  or  in
accordance  with  any  retirement arrangement established with your consent with
respect  to  you.  Your  death  ("Death") during the term of this Agreement will
terminate  the  Agreement.

     (ii)     Cause.  Termination  by the Company of your employment for "Cause"
shall  mean  termination  upon  (A)  the willful and continued failure by you to
substantially  perform your duties with the Company (other than any such failure
resulting  from  your  incapacity  due to physical or mental illness or any such
actual  or anticipated failure after the issuance of a Notice of Termination, by
you for Good Reason, as defined in subsection 5(iii)) after a written demand for
substantial  performance  is  delivered  to  you  by  the  Board,  which  demand
specifically  identifies  the  manner in which the Board  believes that you have
not  substantially  performed  your  duties,  (B) the willful engaging by you in
conduct  which  is  demonstrably  and  materially  injurious  to  the  Company,
monetarily  or otherwise, or (C) your willful and continued breach of a material
term  of this Agreement.  For purposes of this subsection, no act, or failure to
act,  on your part shall be deemed "willful" unless done, or omitted to be done,
by  you  not  in  good  faith  and without reasonable belief that your action or
omission  was  in  the  best  interest  of  the  Company.  Notwithstanding  the
foregoing,  you shall not be deemed to have been terminated for Cause unless and
until there shall have been delivered to you a copy of a resolution duly adopted
by  the  affirmative  vote  of  not less than three-quarters (3/4) of the entire
membership  of  the  Board  at  a  meeting of the Board called and held for such
purpose  (after  reasonable  notice  to you and an opportunity for you, together
with your counsel, to be heard before the Board), finding that in the good faith
opinion  of the Board you were guilty of conduct set forth above in clauses (A),
(B),  or  (C)  of  the  first  sentence  of  this  subsection and specifying the
particulars  thereof  in  detail.

     (iii)     Good  Reason.  You shall be entitled to terminate your employment
for  Good  Reason.  For  purposes  of  this Agreement, "Good Reason" shall mean,
without  your  express written consent, the occurrence after a Change of Control
of  any  of  the  following circumstances unless, in the case of paragraphs (A),
(E),  (F),  (G), (H) or (I), such circumstances are fully corrected prior to the
Date  of  Termination  specified  in  the  Notice  of Termination, as defined in
Subsections  6(iv)  and  6(v),  respectively,  given  in  respect  thereof:

     (A)     the  assignment  to you of any duties inconsistent with your status
as  President and Chief Executive Officer of Green Mountain Power Corporation or
a  substantial  adverse  alteration  in  the  nature  or  status  of  your
responsibilities  from  those  in  effect  immediately  prior  to  the Change of
Control;

     (B)     a  reduction by the Company in your annual base salary as in effect
on  the date hereof or as the same may be increased from time-to-time except for
across-the-board  salary  reductions  similarly  affecting all executives of the
Company  and  all  executives  of  any  person  in  control  of  the  Company;

     (C)     the  relocation  of  the  Company's  principal  executive  offices
(presently  located  at  163 Acorn Lane, Colchester, Vermont) to a location more
than  fifty  miles  distant  from  the  present  location prior to the Change of
Control,  or  the  closing  thereof,  or the Company's requiring you to be based
anywhere  other  than  within  fifty  miles  of the present location, except for
required  travel on the Company's business to an extent substantially consistent
with  your  present  business  travel  obligations;

     (D)     the failure by the Company, without your consent, to pay to you any
portion  of  your  current  compensation  except pursuant to an across-the-board
compensation  deferral similarly affecting all executives of the Company and all
executives  of  any  person  in  control  of  the  Company;

     (E)     the  failure  by  the  Company  to  offer you any compensation plan
introduced to other executives of similar responsibility or any substitute plans
adopted  prior  to  the  Change  of  Control,  unless  an  equitable arrangement
(embodied  in  an  ongoing  substitute  or  alternative plan) has been made with
respect  to  such  plan;  or  the  failure  by  the  Company  to  continue  your
participation  in  any  such  compensation  plan  (or  in  such  substitute  or
alternative plan) on a basis not materially less favorable, both in terms of the
amount  of  benefits  provided  and  the level of your participation relative to
other  participants,  as  existed  at  the  time  of  the  Change  of  Control;

(F)          the  failure  by  the  Company  to continue to provide you with the
benefits  substantially  similar  to  those  enjoyed  by  you  under  any of the
following plans or programs maintained by the Company at the time of a Change of
     Control  or  the  taking  of  any action which would directly or indirectly
materially reduce any of such benefits, including but not limited to: (i) fringe
benefits,  in  accordance with the Company's policies in effect at the time of a
Change  of  Control;  (ii)  group  life,  accidental  death  and  dismemberment,
long-term disability, and medical and dental insurance benefits available to you
according  to  Company  policies  and  employee  benefit plans maintained by the
Company  that  are  in  effect  at  the  time of a Change of Control; (iii) paid
vacation  in  accordance  with  your  agreements  with  the Company's and/or the
Company's policies in effect at the time of a Change of Control; (iv) sick leave
in  accordance  with the Company's policies in effect at the time of a Change of
Control;  and  (v) the Company's Retirement and Supplemental Retirement Plans or
any  successors  thereto,  any  incentive  compensation  plans maintained by the
Company  or  any successor thereto, the Company's Deferred Compensation Plan for
Certain  Officers,  any stock-based compensation plans maintained by the Company
or  successor  plans  thereto,  any  savings  or  thrift  plan maintained by the
Company,  whether  or  not  such  plans  or  programs  are  subject  to  ERISA;

(G)          any  action  by  the Company that eliminates, materially reduces or
jeopardizes  the  ability  of  the  Company to fulfill its obligations under the
Company's  Deferred  Compensation  or Supplemental Retirement Plan, or both such
plans,  including  by  way  of  example and not of limitation, the sale or other
disposition  of  assets  of  the  Company, and all, or substantially all, of the
proceeds  from  such  sale  or other disposition do not remain with the Company;

(H)          the  failure of the Company to obtain a satisfactory agreement from
any  successor  company  to  assume  and  agree  to  perform  this Agreement, as
contemplated  in  section  7  hereof;

(I)          any  purported termination of your employment which is not effected
pursuant  to  a  Notice of Termination satisfying the requirements of subsection
(iv)  below  (and if applicable, the requirements of subsection (ii) above); for
purposes of this Agreement, no such purported termination shall be effective; or

(J)          your  resignation,  if  tendered during the thirty days immediately
following  the first twelve months after a Change of Control; provided, however,
that,  if  the  Change  of  Control  occurs pursuant to subsection 4(i)(C), your
resignation  must  be  tendered during the thirty days immediately following the
first  twelve  months after the date the Company merges or consolidates with the
corporation  approved by the shareholders pursuant to subsection 4(i)(C) of this
Agreement.

     Your  right  to terminate your employment pursuant to this subsection shall
not  be  affected  by  your  incapacity due to physical or mental illness.  Your
continued employment shall not constitute consent to, or a waiver of rights with
respect  to,  any circumstance constituting Good Reason hereunder.  For purposes
of  this  subsection,  any  good  faith determination of Good Reason made by you
shall  be  conclusive.

     (iv)     Notice  of  Termination.  Any  purported  termination  of  your
employment  by  the Company or by you shall be communicated by written Notice of
Termination  to the other party hereto in accordance with section 9 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  shall set forth in reasonable detail the facts and circumstances claimed to
provide  a  basis  for  termination  of  your  employment under the provision so
indicated.

     (v)     Date  of Termination.  "Date of Termination" shall mean (A) if your
employment is terminated for Long-Term Disability, thirty (30) days after Notice
of  Termination  is  given  (provided  that  you  shall not have returned to the
full-time  performance  of  your duties during such thirty (30) day period), and
(B)  if your employment is terminated pursuant to subsection (ii) or (iii) above
or for any other reason (other than Long-Term Disability), the date specified in
the  Notice  of  Termination  (which,  in  the case of a termination pursuant to
subsection  (ii)  above shall not be less than thirty (30) days, and in the case
of  a  termination  pursuant  to  subsection  (iii) above shall not be less than
fifteen  (15)  nor  more  than sixty (60) days, respectively, from the date such
Notice of Termination is given); provided that if within fifteen (15) days after
any  Notice of Termination (as determined without regard to this provision), the
party  receiving  such  Notice  of  Termination  notifies the other party that a
dispute  exists concerning the termination, the Date of Termination shall be the
date  on  which  the  dispute  is  finally  determined, either by mutual written
agreement  of  the  parties,  by  a  binding  arbitration  award,  or by a final
judgment,  order  or  decree  of a court of competent jurisdiction (which is not
appealable  or  with  respect to which the time for appeal therefrom has expired
and no appeal has been perfected); provided further that the Date of Termination
shall  be  extended  by a notice of dispute only if such notice is given in good
faith  and  the  party giving such notice pursues the resolution of such dispute
with reasonable diligence. Notwithstanding the pendency of any such dispute, the
Company  will  continue  to  pay  you  your full compensation in effect when the
notice giving rise to the dispute was given (including, but not limited to, base
salary)  and  continue  you  as  a  participant in all compensation, benefit and
insurance  plans  in which you were participating when the notice giving rise to
the  dispute was given, until the dispute is finally resolved in accordance with
this  subsection.  Amounts  paid  under  this  subsection are in addition to all
other amounts due under this Agreement and shall not be offset against or reduce
any  other  amounts  due  under  this  Agreement.

6.     Compensation Upon Termination or During Short-Term Disability.  Following
       -------------------------------------------------------------
a  Change  of  Control,  as defined by subsection 4(i), upon termination of your
employment  or during a period of Short-Term Disability you shall be entitled to
the  following  benefits:

     (i)     During  any  period  that you fail to perform your full-time duties
with  the  Company  as  a result of incapacity due to physical or mental illness
(hereinafter  "Short-Term  Disability")  you shall continue to receive your base
salary  at  the rate in effect at the commencement of the Short-Term Disability,
together with all compensation and benefits payable or available to you and your
family  under  any other plan in effect during such period, until this Agreement
is  terminated  pursuant to subsection 5(i) hereof.  Thereafter, or in the event
your  employment  shall  be  terminated  by  the Company or by you for Long-Term
Disability,  Retirement,  or  by  reason  of  your Death, your benefits and your
family's  or  heirs'  benefits,  if  applicable,  shall  be determined under the
Company's  retirement, insurance and other compensation programs with respect to
other  peer  executives  and  their  families  as  in  effect  on  the  Date  of
Termination,  or  if  more  favorable  to  you, your family or your heirs, as in
effect  during  the 120-day period immediately preceding a Change of Control, in
accordance  with the terms of such programs.  You, or, if applicable, your heirs
or  estate,  shall  also  receive  your  full  base  salary  through the Date of
Termination  at  the  rate in effect at the time Notice of Termination is given.

     (ii)     If your employment shall be terminated by the Company for Cause or
by  you  other  than for Good Reason, Long-Term Disability, Death or Retirement,
the  Company shall pay you your full base salary through the Date of Termination
at the rate in effect at the time Notice of Termination is given, plus all other
amounts  to which you are entitled under any compensation or benefit plan of the
Company at the time such payments are due, and the Company shall have no further
obligations  to  you  under  this  Agreement.

     (iii)     If  your employment by the Company shall be terminated (a) by the
Company  other  than for Cause, Retirement, Death or Long-Term Disability or (b)
by  you  for  Good  Reason,  then you shall be entitled to the benefits provided
below:

     (A)     The  Company shall pay you the following:  the sum of (1) your full
base  salary through the Date of Termination to the extent not theretofore paid,
(2)  the  product  of  (x)  the  higher  of (I) your most recent annual bonus or
variable  compensation  award and (II) the annual bonus or variable compensation
award  paid  or  payable,  including any bonus or portion thereof which has been
earned  but deferred (and annualized for any fiscal year consisting of less than
twelve  full  months or during which you were employed for less than twelve full
months),  for  the  most  recently  completed  fiscal  year  since the Change of
Control,  if  any,  and  (y) a fraction, the numerator of which is the number of
days  in  the  current  fiscal  year  through  the  Date of Termination, and the
denominator  of  which  is 365 and (3) any accrued vacation or sick pay, in each
case  to  the  extent  not  theretofore  paid;

     (B)     In  lieu  of  any  further  salary  payments  to  you  for  periods
subsequent to the Date of Termination, the Company shall pay as severance pay to
you  a  lump sum severance payment (the "Severance Payment") equal to 2.99 times
the  sum  of  your  base  salary  for the year in which your Date of Termination
occurs  plus  the  target  short-term  incentive bonus (or if there is no target
short-term incentive bonus payable for such year, the actual amount of your most
recent  short-term  incentive  bonus)  that  would  be  payable  for  such year.

     (C)     The  Company  shall pay to you all legal fees and expenses incurred
by you as a result of such termination (including all such fees and expenses, if
any,  incurred  in contesting or disputing any such termination or in seeking to
obtain  or  enforce  any  right  or  benefit  provided  by  this Agreement or in
connection  with  any  tax audit or proceeding to the extent attributable to the
application  of  section  4999  of  the  Code to any payment or benefit provided
hereunder),  such  payment  to  be  made  at  the later of the times provided in
paragraph  (D),  below  or  within  five (5) days after your request for payment
accompanied  with  such  evidence  of  fees and expenses incurred as the Company
reasonably  may  require.

(D)     In  addition,  if  the  excise  tax  imposed  under Code section 4999 on
"excess parachute payments," as defined in Code section 280G, is provoked by (i)
any  amount  paid  or payable to or for the benefit of you under this section as
legal  fees  and expenses, or (ii) any payments or benefits which you receive or
have  the right to receive from the Company (including the Severance Payment) or
any  affiliated  entity  or  any  payments or benefits under any plan or program
maintained  by  the Company or any affiliated entity, the Company must indemnify
you  and  hold  you  harmless  against  all  claims, losses, damages, penalties,
expenses,  and  excise  taxes, subject to the limit set forth in the immediately
following sentence.  To effect this indemnification, the Company must pay you an
additional  amount  that  is  sufficient  to  pay any excise tax imposed by Code
section  4999 on the payments and benefits to which you are entitled without the
additional  amount, plus the excise and income taxes on the additional amount up
to  a maximum of $903,000.  The determination of any additional amount that must
be  paid  under  this  section  must  be  made  by  the  Company  in good faith.

(E)     The  payments  provided  for in paragraphs (B), (C) and (D) above, shall
(except  as  otherwise  provided  therein)  be made not later than the fifth day
following  the  Date  of  Termination, provided, however, that if the amounts of
such  payments  cannot  be finally determined on or before such day, the Company
shall  pay  to  you  on such day an estimate, as determined in good faith by the
Company,  of  the minimum amount of such payments and shall pay the remainder of
such  payments  (together  with  interest  at  the  rate  provided  in  section
1274(b)(2)(B)  of  the Code) as soon as the amount thereof can be determined but
in  no  event later than the thirtieth day after the Date of Termination. In the
event  that the amount of the estimated payments exceeds the amount subsequently
determined  to have been due, such excess shall constitute a loan by the Company
to  you,  payable  on  the  fifth day after demand by the Company (together with
interest  at  the  rate  provided  in  section  1274(b)(2)(B)  of  the  Code).

     (iv)     If  your  employment  shall be terminated (A) by the Company other
than for Cause, Retirement or Disability or (B) by you for Good Reason, then for
a thirty-six (36) month period after such termination, the Company shall provide
you  and your family at Company expense with group life, disability, medical and
dental  insurance  benefits  substantially  similar  to those which you and your
family  are  receiving  immediately  prior  to  the  Notice of Termination.  The
Company  shall  pay any applicable premiums on behalf of you and your family for
continuation  of  medical  coverage  under  the  Consolidated  Omnibus  Budget
Reconciliation Act of 1985, as amended ("COBRA").  Benefits otherwise receivable
by you and your family pursuant to this subsection 6(iv) shall be reduced to the
extent  comparable  benefits are actually received by you and your family during
the  thirty-six  (36)  month  period  following  your  termination, and any such
benefits  actually  received  by  you  and  your family shall be reported to the
Company.

     (v)     If  your  employment  shall  be terminated (A) by the Company other
than  for  Cause,  Retirement  or  Long-Term  Disability  or (B) by you for Good
Reason,  then  in  addition to the retirement benefits to which you are entitled
under  the  Company's  Retirement  Plan  and Supplemental Retirement Plan or any
successor  plans  thereto,  the Company shall pay you in cash at the time and in
the  manner  provided in paragraph (E) of subsection 6(iii), a lump sum equal to
the actuarial equivalent of the excess of (x) the retirement pension (determined
as  a  straight  life annuity commencing at age sixty-five) which you would have
accrued  under the terms of the Company's Retirement Plan  without regard to any
amendment  to  the  Company's  Retirement  Plan  made  subsequent to a Change of
Control  and  on  or prior to the Date of Termination, which amendment adversely
affects  in  any  manner  the  computation  of  retirement  benefits thereunder,
determined as if you were fully vested thereunder and had accumulated (after the
Date  of  Termination)  thirty-six  (36)  additional  months  of  service credit
thereunder  at  your  highest annual rate of compensation during the twelve (12)
months  immediately  preceding  the  Date of Termination over (y) the retirement
pension  (determined  as  a  straight life annuity commencing at age sixty-five)
which  you  had  then  accrued  pursuant  to  the  provisions  of  the Company's
Retirement  Plan.  For  the  purposes of this subsection, "actuarial equivalent"
shall  be  determined  using the same methods and assumptions utilized under the
Company's  Retirement  Plan  immediately  prior  to  the  Change  of  Control.

(vi)     The  Company  shall,  at its sole expense as incurred, provide you with
outplacement  services  the scope and provider of which shall be selected by you
in  your  sole  discretion.  The  Company  shall be required to provide you with
outplacement  services for a reasonable period of time and at a reasonable cost.

(vii)     Offsets  Against  Severance  Payment.

     (A)     The  Severance  Payment  to  which  you  are  entitled  under  this
Agreement  may be reduced under this subsection, but not below zero.  Reductions
in the Severance Payment must be made under this subsection in the manner herein
described.  The  Company  must make any required determination or calculation in
good  faith.

(B)     You  are  not  required  to  seek  or  accept any employment that is not
Comparable Employment.  If you obtain any employment during the months remaining
in  your  employment period after the Date of Termination, the Severance Payment
must  be  reduced  by  all  amounts  actually earned by you from such employment
during  those  months;  except  that  no  such  reduction may be made because of
earnings from employment in which you could have engaged while you were employed
by  the  Company.  For example, the Severance Payment may not be reduced because
of  your  fees for service as a director of a corporation other than the Company
or  your  earnings  from  part-time employment or from any other employment that
would  not have impaired your ability to perform the duties described in section
2  of  this  Agreement.

(C)     During  the months remaining in your employment period after the Date of
Termination  and  unless  you  are  then  eligible to retire under the Company's
Retirement  Plan,  you  must  seek  and accept any Comparable Employment that is
offered  to  you.  If  the  Company  establishes  that Comparable Employment was
offered to you and that you did not accept it, the full amount of wages that you
could  have  earned  from Comparable Employment reduces the Severance Payment to
which  you  are  entitled  under  this  Agreement.

(D)     For  purposes  of this Agreement, Comparable Employment means employment
that  entitles  you  to  the  same  (or  higher)  total  compensation (including
employment  related  benefits) to which you were entitled immediately prior to a
Change  of  Control  and  to similar status, title(s), office(s), and management
responsibilities;  employment  with a general character and grade similar to the
general  character  and  grade  of  your former employment with the Company; and
employment  suited to your education, training, and experience.  For purposes of
the  Agreement,  employment  is  not Comparable Employment if such employment is
located  more  than  forty miles from the location at which you are based on the
Date  of  Termination;  is  short-term  or temporary employment; entitles you to
total  compensation  that  is  less  than  the  total  compensation  (including
employment  related  benefits) to which you were entitled immediately prior to a
Change  of  Control;  requires  you  to  take serious bodily or financial risks;
entitles  you  to  a  lower  status,  title(s),  office(s),  and  management
responsibilities;  or would not have impaired your ability to perform the duties
described  in  section  2  of  this  Agreement.

(E)     To  prevent  hardship,  repayment  of  the  Severance Payment under this
section  may  be  made  by you in installments, determined in the Company's sole
discretion,  but  a  repayment  arrangement may not be used as a disguised loan.

     (viii)     In  addition  to  all  other  amounts  payable to you under this
section  6,  you  shall be entitled to receive all benefits payable to you under
the  Company's Retirement Plan, Savings and Thrift Plan, Supplemental Retirement
Plan  and  any  other  plan  or  agreement  relating  to  retirement  benefits.

     (ix)     Subject  to  the  Company  satisfying its obligations described in
this  Section  6,  you  agree that for eighteen (18) months following receipt of
your  Severance  Payment,  you  will  not,  without prior written consent of the
Company:  (A) personally engage in Competitive Activities (as defined below); or
(B)  work  for,  own, manage, operate, control, or participate in the ownership,
management, operation, or control of, or provide consulting or advisory services
to  or  permit  your  name  to  be  used  in  connection  with,  any individual,
partnership,  firm,  corporation,  or  institution  engaged  in  Competitive
Activities,  or  any  company  or  person  affiliated with such person or entity
engaged  in  Competitive Activities; provided that your purchase or holding, for
investment  purposes,  of  securities  of  a  publicly-traded  company shall not
constitute  "ownership"  or  "participation  in  ownership" for purposes of this
paragraph  so long as your equity interest in any such company is less than five
percent  (5%).

     (x)     For  purposes  of  this  Agreement,  "Competitive Activities" means
business  activities in New England which are the same or similar or competitive
with  those  engaged in by the Company and its subsidiaries and affiliates (and,
for  any  period  while  you  are an employee of the Company those subsidiaries,
affiliates  and  businesses  of  the  Company  that  cease  to  be  affiliates,
subsidiaries  or  businesses  of  the  Company  while you are an employee of the
Company)  or which relate to products or services of the same or similar type as
the  products  or  services  (i)  which  are  sold  (or, pursuant to an existing
business plan, will be sold) to customers of the Company and its subsidiaries or
affiliates, (and, for any period while you are an employee of the Company, those
subsidiaries,  affiliates  and  businesses  of  the  Company  that  cease  to be
affiliates,  subsidiaries or businesses of the Company while you are an employee
of  the  Company)  and  (ii)  for  which  you  then have responsibility to plan,
develop,  manage, market, or oversee, or had any such responsibility within your
most  recent  twelve  (12)  months  of  employment  with  the  Company.

     (xi)     Subject  to  the  Company  satisfying its obligations described in
this  Section  6,  you  agree that for eighteen (18) months following receipt of
your  Severance  Payment,  you  will  not,  without  the  written consent of the
Company:  (A) recruit or solicit any employee of the Company or its subsidiaries
or  affiliates  for  employment  or  for  retention  as  a consultant or service
provider;  (B)  hire or participate (with another company or third party) in the
process  of  hiring  any  person  who  is then an employee of the Company or its
subsidiaries  or affiliates, or provide names or other information about Company
employees or employees of the Company's subsidiaries or affiliates to any person
or  business under circumstances which could lead to the use of that information
for purposes of recruiting or hiring; (C) interfere with the relationship of the
Company  or its subsidiaries or affiliates with any of its employees, agents, or
representatives;  (D)  solicit or induce, or in any manner attempt to solicit or
induce,  any client, customer, or prospect of the Company or its subsidiaries or
affiliates  (1)  to  cease being, or not to become, a customer of the Company or
its  subsidiaries  or affiliates, or (2) to divert any business of such customer
or  prospect  from  the Company or its subsidiaries or affiliates; (E) otherwise
interfere  with,  disrupt,  or  attempt  to  interfere  with  or  disrupt,  the
relationship, contractual or otherwise, between the Company and its subsidiaries
or  affiliates  and  any  of  their  customers  clients,  prospects,  suppliers,
consultants,  or employees or (F) make or publish any statement which is, or may
reasonably  be  considered  to  be,  disparaging  to  the  Company or any of its
subsidiaries  or affiliates, or directors, officers, employees or the operations
or  products  of  the  Company  or  any  of  its  subsidiaries  or  affiliates.

7.     Agreement  Binding  on  Successors.
       ----------------------------------

     (i)     The Company 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 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.
Failure  of  the  Company  to  obtain such assumption and agreement prior to the
effectiveness  of  any  such  succession shall be a breach of this Agreement and
shall entitle you to compensation from the Company in the same amount and on the
same  terms  as  you  would  be  entitled  to  hereunder  if  you terminate your
employment  for  Good  Reason  following  a  Change  of Control, except that for
purposes  of  implementing  the foregoing, the date on which any such succession
becomes  effective  shall  be  deemed  the Date of Termination.  As used in this
Agreement,  "Company"  shall  mean  the Company as herein before defined and any
successor to its business and/or assets as aforesaid which assumes and agrees to
perform  this  Agreement  by  operation  of  law,  or  otherwise.

     (ii)     This Agreement shall inure to the benefit of and be enforceable by
your  personal  or legal representatives, executors, administrators, successors,
heirs,  distributees, devisees and legatees.  If you should die while any amount
would  still  be payable to you hereunder if you had continued to live, all such
amounts,  unless otherwise provided herein, shall be paid in accordance with the
terms  of this Agreement to your devisee, legatee or other designee or, if there
is  no  such  designee,  to  your  estate.

8.     Subsidiary  Corporations.  Upon approval of the Board of Directors of the
       ------------------------
appropriate  wholly-owned subsidiary, this Agreement shall apply to an executive
of  any wholly-owned subsidiary of the Company with the same force and effect as
if  said executive were employed directly by the Company.  Upon approval by said
subsidiary's  Board  of  Directors, the executive of the wholly-owned subsidiary
shall  be  entitled  to  the  same benefits from the Company as those granted to
executives  of  the  Company.  For purposes of this Agreement the transfer of an
employee from the Company to any wholly-owned subsidiary of the Company, or from
any  wholly-owned subsidiary to the Company, or from one wholly-owned subsidiary
to another shall not constitute a termination of such employee's employment.  As
applied to an executive of a wholly-owned subsidiary, the duties and obligations
of  the Company shall, wherever appropriate, refer to the duties and obligations
of  the Company's wholly-owned subsidiary which employs the executive; provided,
however,  that  the Company rather than the wholly-owned subsidiary shall remain
liable  to  the  executive  for  payment  of  benefits  due  hereunder.

9.     Notice.  For  the  purpose  of  this  Agreement,  notices  and  all other
       ------
communications  provided  for in this 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  on the first page of this Agreement, provided
that  all  notice to the Company shall be directed to the attention of the Board
with  a copy to the Secretary of the Company, 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 receipt.

10.     Miscellaneous.  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 you and such officer as may be specifically designated by
the  Board.  No  waiver  by either party hereto at any time of any breach by the
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.  This Agreement supersedes any previous agreements between the
Company  and  you  on  the  matters  herein  addressed.  No  agreements  or
representations,  oral  or  otherwise,  express  or implied, with respect to the
subject matter hereof have been made by either party which are not expressly set
forth  in  this  Agreement.  The  validity,  interpretation,  construction  and
performance  of  this  Agreement  shall  be governed by the laws of the State of
Vermont.  All  reference  to  sections  of the Exchange Act or the Code shall be
deemed also to refer to any successor provisions to such sections.  Any payments
provided  for hereunder shall be paid net of any applicable withholding required
under federal, state or local law.  The obligations of the Company under section
6  shall  survive  the  expiration  of  the  term  of  this  Agreement.

11.     Non-exclusivity  of  Rights.  Nothing in this Agreement shall prevent or
        ---------------------------
limit  your  continuing  or future participation in any plan, program, policy or
practice  provided  by  the  Company  or any of its affiliated companies and for
which  you  may  qualify.  Amounts  which  are  vested benefits or which you are
otherwise  entitled to receive under any plan, policy, practice or program of or
any contract or agreement with the Company or any of its affiliated companies at
or  subsequent  to  a Change of Control shall be payable in accordance with such
plan,  policy, practice or program or contract or agreement except as explicitly
modified  by  this  Agreement.

12.     Confidentiality.
        ---------------

     (i)     Confidential  information.  You  must  hold in a fiduciary capacity
for  the  benefit  of  the  Company  all  secret  or  confidential  information,
knowledge,  or  data relating to the Company and its business, which is obtained
by  you  during your employment by the Company and which is not public knowledge
(other  than  by  acts  by  you  or  your  representatives  in violation of this
Agreement).  After the termination of your employment with the Company, you must
not,  without  the  Company's  prior written consent, communicate or divulge any
such  information, knowledge, or data to anyone other than the Company and those
designated  by  it to receive such information, knowledge, or data.  In no event
may  an  asserted  violation of this section constitute a basis for deferring or
withholding  any  amounts  otherwise  payable  to  you  under  this  Agreement.

     (ii)     Records  and  files.  All records and files concerning the Company
or  the Company's clients and customers belong to and remain the property of the
Company.

13.     Termination  of  Employment Prior to a Change of Control of the Company.
        -----------------------------------------------------------------------
You and the Company acknowledge that prior to a Change of Control or a Potential
Change  of  Control,  your  employment  may  be  terminated  by  the  Company in
accordance  with the notice provisions set forth in section 1 of this Agreement,
and  by  you  at  any time, in which case you shall have no further rights under
this  Agreement.

14.     Anti-assignment.  You may not assign, alienate, anticipate, or otherwise
        ---------------
encumber  any  rights,  duties, or amounts that you might be entitled to receive
under  this  Agreement.

15.     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.

16.     Funding.  The  Company  is  not  required  to establish a trust or other
        -------
funding  vehicle  to  pay  benefits  under  this Agreement, except to the extent
otherwise  required  by  the  Code or ERISA with respect to any employee benefit
plan.

17.     Counterparts.  This  Agreement  may be executed in several counterparts,
        ------------
each  of  which shall be deemed to be an original but all of which together will
constitute  one  and  the  same  instrument.

18.     Arbitration.  Any  dispute or controversy arising under or in connection
        -----------
with  this  Agreement shall be settled exclusively by arbitration in Burlington,
Vermont  in  accordance  with  the rules of the American Arbitration Association
then  in effect.  Judgment may be entered on the arbitrator's award in any court
having  jurisdiction;  provided,  however,  that  you  shall be entitled to seek
specific  performance  of  your  right  to be paid until the Date of Termination
during the pendency of any dispute or controversy arising under or in connection
with  this  Agreement.

19.     Governing Law.     This Agreement shall be governed by the laws of State
        -------------
of  Vermont.

<PAGE>
ACKNOWLEDGMENT  OF  ARBITRATION

     The  parties hereto understand that this Agreement contains an agreement to
arbitrate.  After  signing  this document, the parties understand that they will
not  be  able  to bring a lawsuit concerning any dispute that may arise which is
covered  by  the  arbitration  agreement,  unless  it  involves  a  question  of
constitutional  or  civil  rights.  Instead the parties agree to submit any such
dispute  to  an  impartial  arbitrator.

     This  letter  is submitted in duplicate.  If it sets forth our agreement on
the  subject  matter  hereof,  kindly sign both copies and return one copy to me
within  thirty  (30)  days  (after  which  this offer of severance benefits will
lapse).  These  letters  will  then  constitute  our  agreement on this subject.

     By:     /s/Nordahl  L.  Brue
             --------------------
     Nordahl  L.  Brue,  Chairman
     Board  of  Directors
     Green  Mountain  Power  Corporation

Agreed  to  this  10th  day  of  February,  2004

/s/Christopher  L.  Dutton
--------------------------
Christopher  L.  Dutton
President  and  Chief  Executive  Officer
Green  Mountain  Power  Corporation

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00062-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00062-of-00352.parquet"}]]