Exhibit 10(g)(5)
AMENDMENT TO EMPLOYMENT AGREEMENT BETWEEN
XXXXXX X. XXXX AND PUBLIC SERVICE COMPANY OF COLORADO
THIS AMENDMENT is made, entered into and is effective as of this 22nd day of
August, 1995, by and between Public Service Company of Colorado, a Colorado
corporation (the "Company"), and Xxxxxx X. Xxxx (the "Executive"). The
Employment Agreement between Company and Executive (the "Agreement") executed
on April 8, 1994, is amended as follows:
1. Section 7.6 is deleted in its entirety and rewritten to read as follows:
"7.6 TERMINATION AFTER ANNOUNCEMENT OR CHANGE IN CONTROL. In connection
with a Change in Control (as defined in the Severance Agreement), during
the Coverage Period (as defined in Section 3.a of the Severance
Agreement) the Executive shall be entitled to the greater of (a) the
payments he would otherwise be entitled to receive for the remaining
term of this Agreement; or (b) those payments provided under the
Severance Agreement. If it is determined that payments will be made
pursuant to this Agreement in connection with a Change in Control, the
Executive shall be entitled to tax-free reimbursements of any excise
taxes that may arise as a result of such payments."
2. The following language shall be added to the Agreement as Section 7.7:
"7.7 EMPLOYMENT BY PARENT. The Executive's termination of employment
with the Company to become an employee of a corporation which owns 100%
of the Company shall not be considered a termination of employment for
purposes of this Agreement. The subsequent termination of Executive's
employment from such corporation shall be considered a termination of
employment for purposes of this Agreement."
PUBLIC SERVICE COMPANY OF COLORADO
/s/ Xxxxx X. Xxxxxxxx
By:__________________________________
EXECUTIVE
/s/ Xxxxxx X. Xxxx
By:__________________________________
Xxxxxx X. Xxxx
