Amendment No. 2000-1 to the Philadelphia Suburban Corporation 1994 Equity Compensation Plan

Summary

This amendment updates the Philadelphia Suburban Corporation 1994 Equity Compensation Plan by revising the rules for when restrictions on restricted stock grants lapse. Now, all restrictions will end when the restriction period expires, or immediately if the grantee dies or there is a change of control of the company. The committee also has the authority to remove restrictions earlier if it finds it fair to do so.

EX-10.33 4 0004.txt EXHIBIT 10.33 Exhibit 10.33 Amendment No 2000-1 to the Philadelphia Suburban Corporation 1994 Equity Compensation Plan The 1994 Equity Compensation Plan, as amended, is hereby further amended by replacing Section 7 (e) with the following: (e) Lapse of Restrictions. All restrictions imposed under the restricted stock grant shall lapse upon the expiration of the applicable Restriction Period; provided however, that upon the death of the grantee or a Change of Control of the Corporation, all restrictions on the transfer of shares which have not, prior to such date, been forfeited shall immediately lapse. In addition, the Committee may determine as to any or all restricted stock grants, that all the restrictions shall lapse, without regard to any Restriction Period, under such circumstances as it deems equitable.