Exhibit 10(z)(9)
CONSULTING AGREEMENT
AGREEMENT made as of May 9, 1996 between LONG ISLAND LIGHTING COMPANY, a
New York corporation, having its principal offices at 000 Xxxx Xxx Xxxxxxx Xxxx,
Xxxxxxxxxx, Xxx Xxxx 00000 (hereinafter the "Company") and XXXXXX X. XXXXXXXX,
residing in Glen Cove, New York (hereinafter the "Consultant");
WHEREAS, the Company has requested that the Consultant perform services for
it; and
WHEREAS, the Consultant is willing to perform consulting services for the
Company;
NOW THEREFORE, it is agreed that:
1. Effective May 9, 1996, the Consultant will be engaged as a Consulting
Director for a period ending on the day of the 1997 Annual Meeting of
Shareowners. The Consultant will advise and counsel the Board of Directors and
any of its committees on various business and financial matters and any other
areas requested by or on behalf of the Board of Directors of the Company.
2. For such services, the Consultant will receive an annual retainer equal
to the annual retainer paid to a duly elected Director, an additional $500.00
for each Board or Committee meeting attended and the same pension and health
benefits provided to a duly elected director. Consultant acknowledges that he
will participate in the Company's Directors' Stock Unit Retariner Plan, which
was effective January 1, 1996, and that at least 50% of Consultant's retainer
will be applied to the purchase of stock units.
3. The Consultant shall have the right to participate as a Consulting
Director in the Company's Deferred Compensation Plan for Directors and the
Company's Retirement Income Plan for Directors.
4. This agreement shall be governed by the laws of the State of New York.
IN WITNESS WHEREOF, this agreement has been executed this 17th day of May,
1996.
CONSULTANT LONG ISLAND LIGHTING COMPANY
/S/ XXXXXX X. XXXXXXXX /S/ XXXXXXXX X. XXXXXX
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XXXXXX X. XXXXXXXX CORPORATE SECRETARY
