Document:

<PAGE>   1

                                                                  Exhibit 10(jj)

May 5, 2000

                            CHIEF EXECUTIVE OFFICER

MAJOR MEDICAL & DENTAL BENEFITS

     Benefits include all medical and dental expenses covered under the PCS
Staff Group Benefits plan. Covered expenses shall include medical and dental
expenses incurred for services rendered or supplies purchased in Canada or the
United States. Coverages outside of Canada and the U.S. will be for emergency
services only.

<TABLE>
<S>                                                           <C>
Individual Deductible Amount................................  Nil
Family Deductible Amount....................................  Nil
Percentage Reimbursements...................................  100%
</TABLE>

MEDICAL

<TABLE>
<S>                                                           <C>
Maximum Aggregate per Individual............................  $1,000,000 per lifetime
Annual Reinstatement Amount.................................  $10,000
Maximum Medical Travel Amount Per Individual................  $5,000 per calendar year
</TABLE>

DENTAL

<TABLE>
<S>                                                           <C>
Maximum dental amount per individual........................  $8,000 per calendar year
</TABLE>

OTHER SPECIFIC LIMITS & MAXIMUMS ARE LISTED BELOW:

STANDARD COVERED EXPENSES

<TABLE>
<S>                                                           <C>
Maximum Physiotherapy Amount................................  $1,200 per calendar year
Maximum Nursing Services Amount.............................  $100,000 lifetime
Maximum Acupuncturist Amount................................  $1,200 per calendar year
Maximum Prosthesis Amount...................................  $40,000 per prosthesis
Maximum Patient Lifter Amount...............................  $8,000 per 5 consecutive
                                                              years
Maximum Wheelchair Ramp Amount..............................  $8,000 per lifetime
</TABLE>

HOSPITAL COVERED EXPENSES

<TABLE>
<S>                                                           <C>
Hospital Daily Amount.......................................  Reasonable & customary charge
</TABLE>

PRESCRIPTION DRUG COVERED EXPENSES

<TABLE>
<S>                                                           <C>
Maximum Smoking Cessation Amount............................  $2,000 lifetime
Maximum Erectile Dysfunction Drugs Amount...................  $2,000 per calendar year
</TABLE>

PARAMEDICAL COVERED EXPENSES

<TABLE>
<S>                                                           <C>
Maximum Paramedical Treatment Amount........................  $1,200 per calendar year
Maximum Paramedical Diagnostic Amount.......................  Reasonable & customary
</TABLE>
<PAGE>   2

EXTRACARE COVERED EXPENSES

<TABLE>
<S>                                                            <C>
Convalescent Hospital Daily Amount..........................   Reasonable & customary charge
Maximum Number of Days of Convalescent Hospital
  Confinement...............................................   180 days per disability
Psychologic Treatment Amount................................   $1,200 per calendar year
Maximum Psychologic Treatment Amount........................   Reasonable & customary charge
Maximum Psychologic Diagnostic or Assessment Amount.........   Reasonable & customary charge
Speech Therapist amount.....................................   $1,200 per calendar year
Maximum Hearing Aid Amount..................................   $1,600 per 5 consecutive years
Maximum Number of Hearing Tests.............................   Reasonable & customary charge
Maximum Masseur Amount......................................   $1,200 per calendar year
Maximum Dietician Amount....................................   $1,200 per calendar year
Maximum Eye Examination Amount..............................   Reasonable & customary --
                                                               once every 12 months
Eyeglass, Frame or Contact Lenses Amount....................   $1,000 per 24 consecutive
                                                               months
Maximum Diabetic Equipment Amount...........................   $1,000 every 5 calendar years
</TABLE>March 6, 2001

Mr. Richard A. Bianco
Chairman, President and Chief Executive Officer
AmBase Corporation
51 Weaver Street
Bldg. 2
Greenwich, CT  06831-5155

Dear Mr. Bianco:

As approved by the Personnel Committee of the Board of Directors of AmBase
Corporation (the "Company") at its meeting held on January 2, 2001, the Company
hereby agrees to amend your employment agreement dated June 1, 1991, as amended
dated March 30, 1993 and February 24, 1997 (collectively, the "Agreement") to
increase your annual base salary from $500,000 to $625,000, effectively
January 1, 2001.

It is expressly understood that all other provisions of the Agreement will
continue in full force and effect in accordance with its original terms and
practices to date.

                                                 AmBase Corporation

                                                By:   /s/ John P. Ferrara
                                                      ---------------------
                                                      John P. Ferrara
                                                      Vice President,
                                                      Chief Financial
                                                      Officer, and Controller

Accepted and agreed to
this 6th day of March, 2001

/s/ Richard A. Bianco
---------------------------
Richard A. BiancoExhibit 4.5-C
                              CERTIFICATE OF TRUST
                                       OF
                         GEORGIA POWER CAPITAL TRUST VII

         THIS CERTIFICATE OF TRUST of Georgia Power Capital Trust VII (the
"Trust"), dated March 23, 2001, is being duly executed and filed by the
undersigned, as trustee of the Trust, to form a business trust under the
Delaware Business Trust Act (12 Del. C. ss. 3801, et seq.).

         1. Name. The name of the business trust being formed hereby is Georgia
Power Capital Trust VII.

         2. Delaware Trustee. The name and business address of the trustee of
the Trust with a principal place of business in the State of Delaware are Chase
Manhattan Bank USA, National Association, 1201 Market Street, Wilmington,
Delaware 19801.

         3. Effective Date. This Certificate of Trust shall be effective as of
its filing.

         IN WITNESS WHEREOF, the undersigned, being the sole trustee of the
Trust, has executed this Certificate of Trust as of the date first above
written.

                                   CHASE MANHATTAN BANK USA,
                                   NATIONAL ASSOCIATION,
                                   as Trustee

                                   By:
                                            ----------------------------
                                            Name:    John J. Cashin
                                            Title:   Vice PresidentExhibit 4.5-D

                              CERTIFICATE OF TRUST
                                       OF
                        GEORGIA POWER CAPITAL TRUST VIII

         THIS CERTIFICATE OF TRUST of Georgia Power Capital Trust VIII (the
"Trust"), dated March 23, 2001, is being duly executed and filed by the
undersigned, as trustee of the Trust, to form a business trust under the
Delaware Business Trust Act (12 Del. C. ss. 3801, et seq.).

         1. Name. The name of the business trust being formed hereby is Georgia
Power Capital Trust VIII.

         2. Delaware Trustee. The name and business address of the trustee of
the Trust with a principal place of business in the State of Delaware are Chase
Manhattan Bank USA, National Association, 1201 Market Street, Wilmington,
Delaware 19801.

         3. Effective Date. This Certificate of Trust shall be effective as of
its filing.

         IN WITNESS WHEREOF, the undersigned, being the sole trustee of the
Trust, has executed this Certificate of Trust as of the date first above
written.

                                   CHASE MANHATTAN BANK USA,
                                   NATIONAL ASSOCIATION,
                                   as Trustee

                                   By:
                                            ---------------------------
                                            Name:    John J. Cashin
                                            Title:   Vice PresidentExhibit 4.6-C

                                 TRUST AGREEMENT

         THIS TRUST AGREEMENT is made as of March 23, 2001, by and between
Georgia Power Company, a Georgia corporation, as Depositor (the "Depositor"),
and Chase Manhattan Bank USA, National Association, as Trustee (the "Trustee").
The Depositor and the Trustee hereby agree as follows:

         1. The trust created hereby shall be known as "Georgia Power Capital
Trust VII", in which name the Trustee, or the Depositor to the extent provided
herein, may conduct the business of the Trust, make and execute contracts, and
sue and be sued.

         2. The Depositor hereby assigns, transfers, conveys and sets over to
the Trustee the sum of $10. The Trustee hereby acknowledges receipt of such
amount in trust from the Depositor, which amount shall constitute the initial
trust estate. The Trustee hereby declares that it will hold the trust estate in
trust for the Depositor. It is the intention of the parties hereto that the
Trust created hereby constitute a business trust under Chapter 38 of Title 12 of
the Delaware Code, 12 Del. C. ss. 3801, et seq. (the "Business Trust Act"), and
that this document constitute the governing instrument of the Trust. The Trustee
is hereby authorized and directed to execute and file a certificate of trust
with the Delaware Secretary of State substantially in the form attached hereto
or in such other form as the Trustee may approve.

         3. The Depositor and the Trustee will enter into an amended and
restated Trust Agreement satisfactory to each such party and substantially in
the form included as an exhibit to the Registration Statement on Form S-3 (the
"1933 Act Registration Statement") referred to below, or in such other form as
the Trustee and the Depositor may approve, to provide for the contemplated
operation of the Trust created hereby and the issuance of the Preferred
Securities and Common Securities referred to therein. Prior to the execution and
delivery of such amended and restated Trust Agreement, the Trustee shall not
have any duty or obligation hereunder or with respect to the trust estate,
except as otherwise required by applicable law or as may be necessary to obtain
prior to such execution and delivery any licenses, consents or approvals
required by applicable law or otherwise. However, notwithstanding the foregoing,
the Trustee may take all actions deemed proper as are necessary to effect the
transactions contemplated herein.

         4. The Depositor and the Trustee hereby authorize and direct the
Depositor, as the sponsor of the Trust, (i) to file with the Securities and
Exchange Commission (the "Commission") and execute, in the case of the 1933 Act
Registration Statement and 1934 Act Registration Statement (as herein defined),
on behalf of the Trust, (a) the 1933 Act Registration Statement including
pre-effective or post-effective amendments to such Registration Statement,
relating to the registration under the Securities Act of 1933, as amended (the
"1933 Act"), of the Preferred Securities of the Trust, (b) any preliminary
prospectus or prospectus or supplement thereto relating to the Preferred
Securities required to be filed pursuant to Rule 424 under the 1933 Act, and (c)
a Registration Statement on Form 8-A or other appropriate form (the "1934 Act
Registration Statement") (including all pre-effective and post-effective
amendments thereto) relating to the registration of the Preferred Securities of
the Trust under Section 12(b) of the Securities Exchange Act of 1934, as
amended; (ii) to file with the New York Stock Exchange and execute on behalf of
the Trust a listing application and all other applications, statements,
certificates, agreements and other instruments as shall be necessary or
desirable to cause the Preferred Securities to be listed on the New York Stock
Exchange; (iii) to file and execute on behalf of the Trust such applications,
reports, surety bonds, irrevocable consents, appointments of attorney for
service of process and other papers and documents as shall be necessary or
desirable to register the Preferred Securities under the securities or "Blue
Sky" laws of such jurisdictions as the Depositor, on behalf of the Trust, may
deem necessary or desirable; and (iv) to execute, deliver and perform on behalf
of the Trust an underwriting agreement with the Depositor and the underwriter or
underwriters of the Preferred Securities of the Trust. The Trustee further
hereby ratifies and approves all actions having previously been taken with
respect to the foregoing. In the event that any filing referred to in clauses
(i)-(iii) above is required by the rules and regulations of the Commission, the
New York Stock Exchange or state securities or Blue Sky laws to be executed on
behalf of the Trust by the Trustee, Chase Manhattan Bank USA, National
Association, in its capacity as Trustee of the Trust, is hereby authorized and
directed to join in any such filing and to execute on behalf of the Trust any
and all of the foregoing, it being understood that Chase Manhattan Bank USA,
National Association in its capacity as Trustee of the Trust shall not be
required to join in any such filing or execute on behalf of the Trust any such
document unless required by the rules and regulations of the Commission, the New
York Stock Exchange or state securities or Blue Sky laws.

         5. This Trust Agreement may be executed in one or more counterparts.

         6. The number of Trustees initially shall be one (1) and thereafter the
number of Trustees shall be such number as shall be fixed from time to time by a
written instrument signed by the Depositor which may increase or decrease the
number of Trustees; provided, however, that to the extent required by the
Business Trust Act, one Trustee shall either be a natural person who is a
resident of the State of Delaware or, if not a natural person, an entity which
has its principal place of business in the State of Delaware. Subject to the
foregoing the Depositor is entitled to appoint or remove without cause any
Trustee at any time. Any Trustee may resign upon thirty days' prior notice to
the Depositor.

         7. This Trust Agreement shall be construed in accordance with and
governed by the internal laws of the State of Delaware.

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Trust Agreement
to be duly executed as of the day and year first above written.

                             GEORGIA POWER COMPANY,
                                      as Depositor

                             By:
                                      -----------------------------------
                                      Name:    Wayne Boston
                                      Title:   Assistant Secretary

                             CHASE MANHATTAN BANK USA,
                             NATIONAL ASSOCIATION,
                                      as Trustee

                             By:
                                      -----------------------------------
                                      Name:    John J. Cashin
                                      Title:   Vice President

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