Amendment No. 1 to Director Share Plan of New York State Electric & Gas Corporation
This amendment updates the Director Share Plan for New York State Electric & Gas Corporation. Effective June 1, 2000, it changes the schedule and amount of Phantom Shares granted to each participating director. Starting July 1, 2000, and on each subsequent October 1, January 1, April 1, and July 1, each eligible director will receive 400 Phantom Shares. The amendment clarifies the timing and quantity of these share grants.
Exhibit 10-31
AMENDMENT No. 1
to
DIRECTOR SHARE PLAN
of
NEW YORK STATE ELECTRIC & GAS CORPORATION
The Director Share Plan (the "Plan") of New York State Electric & Gas Corporation, amended and restated effective June 1, 1998, is hereby amended as follows:
1. Effective June 1, 2000, Section B of Article VI of the Plan is hereby amended to read in its entirety as follows:
"In addition, commencing July 1, 2000 and on each October 1, January 1, April 1 and July 1 thereafter, 400 Phantom Shares will be granted to each Director who is a Plan Participant as of that date.
