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EXHIBIT 10.7.2
FIRST AMENDMENT TO
SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT
Effective as of August 1, 1999
WHEREAS, the Connecticut Water Company (hereinafter referred to as the
"Employer") and Xxxxxxxx X. Xxxxxxxxxx (hereinafter referred to as the
"Employee") entered into a Supplemental Executive Retirement Agreement dated as
of December 16,1991 (hereinafter referred to as the "Agreement"); and
WHEREAS, the parties wish to amend the Agreement in accordance with the
provisions of Section 5(a) thereof;
NOW THEREFORE, in consideration of the premises and of the mutual
covenants and agreements contained herein, the Agreement is hereby amended
effective as of the date first above written as follows:
1. The second paragraph of Section l(a) of the Agreement is amended to read in
its entirety as follows:
"For purposes of the foregoing, "Average Earnings" shall have the meaning set
forth in the Retirement Plan, except that in determining Average Earnings,
Annual Earnings (as defined in the Retirement Plan) shall not be limited to the
OBRA '93 annual compensation limit."
/s/ Xxxxxxxx X. Xxxxxxxxxx Connecticut Water Service, Inc.
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Xxxxxxxx X. Xxxxxxxxxx
By: /s/ Xxxxxxx X. XxXxxx
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August 13, 1999 Xxxxxxx X. XxXxxx
Corporate Secretary
August 13, 1999