Amendment No. 8 to Supplemental Executive Retirement Plan for Officers of Northeast Utilities System Companies
This amendment updates the Supplemental Executive Retirement Plan for Officers of Northeast Utilities System Companies, effective January 1, 2006. It clarifies who qualifies as an Eligible Employee, specifying that only full-time, salaried officers at the level of Vice President or higher, or Board members who participate in the Retirement Plan, are eligible. It also revises participation rules, stating that all Eligible Employees participate in the Make-Whole Benefit, while only Senior Vice Presidents or higher participate in the Target Benefit.
Exhibit 10.30.8
AMENDMENT NO. 8 TO
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
FOR OFFICERS OF NORTHEAST UTILITIES SYSTEM COMPANIES
The Supplemental Executive Retirement Plan for Officers of Northeast Utilities System Companies (the “Plan”) is amended effective January 1, 2006, as follows:
1.1
Amendment to Article II. Article II is hereby amended to add the following definition:
“Eligible Employee. “Eligible Employee” means any person (i) employed by an Employer on a regular full-time salaried basis, (ii) designated an officer (excluding any assistant officers) of an Employer with a title of Vice President or of any higher rank, or who is member of the Board, and (iii) who is a participant in the Retirement Plan.”
1.2
Amendment to Article III. Article III of the Plan is hereby deleted and the following is substituted:
“III. Participation
Each Eligible Employee shall be a Participant in the Plan with respect to the Make-Whole Benefit.
Each Eligible Employee with a title of Senior Vice President, or higher ranking officer of the Employer, shall be a Participant in the Plan with respect to the Target Benefit.”
