Exhibit 10.14
AMENDMENT TO CHANGE IN CONTROL AGREEMENT
WHEREAS, Allegheny Energy Service
Corporation (the “Company”) and William F. Wahl III
(the “Employee”) previously entered into a Change in
Control Agreement, originally effective as of May 18, 2007
(the “Agreement”).
WHEREAS, effective as of
November 1, 2007, the parties desire to amend the Agreement to
comply with certain changes in applicable law.
NOW, THEREFORE, in consideration of
the covenants contained herein, and for other good and valuable
consideration, the parties hereto agree as follows:
1.
Section 7(e) shall be amended and restated in its entirety to read
as follows:
”(e) The Company shall be
entitled to withhold from payments due hereunder any required
federal, state or local withholding or other taxes. To the extent
that any amounts payable to the Employee under the Agreement hereof
are subject to Section 409A(a)(2)(B) of the Internal Revenue
Code of 1986, as amended (the “Code”), any requirements
under the Agreement that such amounts be paid promptly shall not
apply and instead such amounts shall be paid in a lump sum as of
the date six months after the Termination Date. The Agre
