SEC Contract Filing

Filing Date: 2016-05-12

Document Content:
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<TYPE>EX-10.5
<SEQUENCE>5
<FILENAME>agr-ex105_1005.htm
<DESCRIPTION>EX-10.5
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:right;margin-top:0pt;line-height:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT 10.5</p>
<p style="text-align:center;margin-top:0pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;letter-spacing:0.25pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">EMPLOYMENT AGREEMENT</font></p>
<p style="margin-top:13pt;line-height:14pt;margin-bottom:0pt;margin-right:2.18%;text-indent:3.92%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This EMPLOYMENT AGREEMENT (the "Agreement") is entered into by and among Energy East Corporation, a New York corporation (together with its subsidiaries and affiliates, the "Company"), Rochester Gas &amp; Electric Corporation ("RG&amp;E"), and Mark S. Lynch (the "Executive") as of November 24, 2009.</p>
<p style="margin-top:12pt;line-height:14pt;margin-bottom:0pt;margin-right:10.02%;text-indent:3.92%;color:#000000;font-size:10pt;letter-spacing:-0.15pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">1.</font><font style="text-decoration:underline;margin-left:36pt;"></font><font style="text-decoration:underline;">Defined Terms.</font> The definitions of capitalized terms used in this Agreement, unless otherwise defined herein, are provided in the last Section hereof.</p>
<p style="margin-top:12pt;line-height:14pt;margin-bottom:0pt;margin-right:0.65%;text-indent:3.92%;color:#000000;font-size:10pt;letter-spacing:-0.15pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">2.</font><font style="text-decoration:underline;margin-left:36pt;"></font><font style="text-decoration:underline;">Employment.</font> RG&amp;E hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company and RG&amp;E, on the terms and conditions set forth herein, until Executive's employment is terminated in accordance with the terms of this Agreement (the "Term").</p>
<p style="margin-top:12pt;line-height:14pt;margin-bottom:0pt;margin-right:3.92%;text-indent:3.92%;color:#000000;font-size:10pt;letter-spacing:-0.15pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">3.</font><font style="text-decoration:underline;margin-left:36pt;"></font><font style="text-decoration:underline;">Term of Agreement.</font> The Term will commence on the date hereof and continue until the Date of Termination (as defined below).</p>
<p style="margin-top:12pt;line-height:14pt;margin-bottom:0pt;margin-right:0.65%;text-indent:3.92%;color:#000000;font-size:10pt;letter-spacing:-0.15pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">4.</font><font style="text-decoration:underline;margin-left:36pt;"></font><font style="text-decoration:underline;">Position and Duties.</font> The Executive shall serve as President of the Iberdrola USA New York operating companies (currently RG&amp;E and NYSEG) and such other positions as may be assigned from time to time by the Company, and shall have such responsibilities, duties and authority that are consistent with such positions as may from time to time be assigned to the Executive by the Company. The Executive shall devote substantially all his working time and efforts to the business and affairs of the Company and its subsidiaries and affiliates. Executive initially shall be based in the Company's offices in Albany, New York. The Executive recognizes that his duties will require, at the Company's expense, travel to domestic and international locations. If Executive's primary office is moved during the Term to a location other than Albany, New York, he shall be eligible to participate in the Company's relocation program.</p>
<p style="margin-top:12pt;line-height:14pt;margin-bottom:0pt;text-indent:3.92%;color:#000000;font-size:10pt;letter-spacing:-0.15pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">5.</font><font style="text-decoration:underline;margin-left:36pt;"></font><font style="text-decoration:underline;">Compensation and Related Matters.</font></p>
<p style="margin-top:12pt;line-height:14pt;margin-bottom:0pt;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.84%;">5.1.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Base Salary.</font> RG&amp;E shall pay the Executive a base salary ("Base <font style="letter-spacing:-0.15pt;">Salary") during the period of the Executive's employment hereunder, which shall be at an initial rate of Th