EXHIBIT 10.17B
FIRST AMENDMENT TO
EMPLOYMENT AGREEMENT
This FIRST AMENDMENT, made as of the 5th day of May, 1999, to the Employment
Agreement, made as of the 1st day of March, 1997, (the "Agreement") between THE
UNITED ILLUMINATING COMPANY, a Connecticut corporation (the "Company") and
XXXXXXX X. XXXXXXXXXXX, an individual (the "Executive").
WITNESSETH THAT:
(1) The Company and the Executive hereby agree to amend the Agreement as
set forth in sections (2), (3) and (4) below:
(2) By adding after the final sentence of Section (2) the following
sentence: "For purposes of this agreement, any such change in
officership position will be consistent with the Executive's abilities
and consist of duties and responsibilities comparable to those of the
officership position on the 1st day of April, 1999".
(3) By, in SCHEDULE A Section (B), deleting the first sentence and adding
in its place the following sentence: The Officer's choice of the
addition of six years of age or six years of service deemed as an
employee of the Company, or any combination (not to exceed 6) of whole
and partial years of age and whole and partial years of service as an
employee of the Company, in the calculation of a supplemental
retirement benefit payable by the Company to the Officer in an amount
equal to the excess of (A) over (B), where (A) is a retirement benefit
calculated in accordance with the Company's Pension Plan, but with the
aforesaid addition of whole and partial years of age and/or service,
and (B) is the benefit payable to the Officer under the Company's
Pension Plan, plus the Officer's choice of the addition of seven years
of age or seven years of service deemed as an employee of the Company,
or any combination (not to exceed 7) of whole and partial years of age
and whole and partial years of service as an employee of the Company,
in the calculation of the benefits payable to the Officer under the
Company's retiree medical benefit plan(s).
(4) By additionally in SCHEDULE A Section (B) adding after the final
sentence: " The supplemental retirement benefit shall be paid from the
Supplemental Retirement Benefit Trust of the Company that was
established by an agreement between the Company and State Street Bank
and Trust Company, dated as of June 1, 1995 and amended effective
December 31, 1995".
(5) All the terms and conditions of the Agreement, as amended hereby, are
and shall remain in full force and effect
(6) This First Amendment to the Agreement may be executed in one or more
counterparts, each of which shall be deemed an original but all of
which together will constitute one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have executed this instrument as
of the day and year first above written.
THE UNITED ILLUMINATING COMPANY
ATTEST:
By /s/ Xxxxxxxxx X. Xxxxxxx
---------------------------------------
Its Chairman of the Board of Directors,
President and Chief Executive Officer
/s/ Xxxx Xxxxxxx
-----------------------------
Treasurer and Secretary
/s/ Xxxxxxx X. Xxxxxxxxxxx
---------------------------------------
Xxxxxxx X. Xxxxxxxxxxx
