EXHIBIT 10
Amendment, dated December 29, 1996, to the Agreement dated January 30,
1984 between LONG ISLAND LIGHTING COMPANY, a New York Corporation (the
"Company") and XXXXXXX X. XXXXXXXXXXX (the "Executive").
WHEREAS, the Company and the Executive entered into an agreement on the
30th day of January 1984 with regard to the employment of the Executive (the
"Agreement");
WHEREAS, the Agreement has been previously amended from time to time;
WHEREAS, the Company and the Executive by this agreement wish to make
additional amendments to certain provisions of the Agreement regarding the Term
of the Agreement (the "Amendment");
NOW, THEREFORE, the Company and the Executive agree as follows:
1. Section 1(a) of the Agreement is amended to delete the following:
"For all purposes of this Agreement, "Original Term" shall mean and
include such First Renewal Term and such Second Renewal Term to the
extent the Original Term is extended as provided in the immediately
preceding sentence."
2. Section 1(a) of the Agreement is amended and restated by adding the
following paragraph to Subsection 1(a) as follows:
The Original Term shall be further extended for an additional period
beginning on February 1, 1997 and ending on January 31, 2002 (the
"Extension"), if, with respect to this further Extension, the
Executive notifies the Company after September 1, 1996 and before
January 15, 1997 of Executive's desire to further extend the
Original Term, and if the Company does not within fifteen (15) days
after receipt of such notice inform Executive that it does not wish
to extend the Original Term. For all purposes of this Agreement,
"Original Term" shall continue to mean and include the Renewal Term
and the Extension to the extent the Original Term is extended as
provided in this Section 1(a).
2. This Amendment shall become effective immediately.
3. Upon the effectiveness of this Amendment, any reference to the
Agreement in the Agreement and in any of the amendments thereto shall mean and
be a reference to the Agreement as amended by each of the amendments thereto.
4. Except as amended previously and by this amendment, the Agreement shall
remain in full force and effect and is in all respects ratified and confirmed.
IN WITNESS WHEREOF, as of the date hereof, the Company has caused this
Amendment to be executed pursuant to authorization of the Board of Directors by
an officer in its name and for and on its behalf and the Executive has set his
hand.
LONG ISLAND LIGHTING COMPANY
Attest: By: /s/ Xxxxxxx X. Xxxxxxx
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Name: Xxxxxxx X. Xxxxxxx
Title: General Counsel
Date: May 13, 1997
/s/ Xxxxxxxx X. Xxxxxx
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Secretary
(Corporate Seal)
/s/ Xxxxxxx X. Xxxxxxxxxxx
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XXXXXXX X. XXXXXXXXXXX
Xxxxx Xxxx
Xxxxxx Xxxx
Xxxx Xxxx, Xxx Xxxx 00000
Date: May 13, 1997
