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AMENDMENT
TO
HUBBELL INCORPORATED AMENDED AND RESTATED
DEFERRED COMPENSATION PLAN FOR DIRECTORS
Restated and Amended, Effective as of January 1,
2005
WHEREAS,
this Corporation maintains the Hubbell Incorporated Amended and
Restated Deferred Compensation Plan for Directors (the
“Plan”), which has been amended and restated from time
to time, the most recent amendment taking place effective as of
January 1, 2005;
WHEREAS,
the Board of Directors has reserved the right in Section 6.1
of the Plan to amend the Plan;
WHEREAS,
it is desirable to amend the Plan to change the timing on which
distributions will be made under the Plan.
NOW,
THEREFORE, the Plan is hereby amended as follows:
1. By
adding the following Section 2.5 to the Plan:
“2.5
Prior to December 31, 2008 each Director who is a participant
in the Plan on December 31, 2008 shall make an election to
have his or her Accounts payable under Article IV upon
Separation from Service commencing on either the six month
anniversary of the Director’s Separation from Service or the
fifth business day of the Year following the Director’s
Separation from Service. For each Director who first becomes a
participant in the Plan after January 1, 2009 such election
shall be made at the time of the Director’s initial deferral
election under Section 2.1. If no such election is filed, then
the Director’s Accounts shall be payable commencing on the
fifth business day of the Year following the Director’s
Separation from Service.”
2. By
amending Section 4.1 of the Plan to substitute the following
for the second sentence thereof effective January 1,
2009:
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