Exhibit 10.10
AMENDMENT TO EMPLOYMENT AGREEMENT
WHEREAS, Allegheny Energy Service
Corporation for itself and as agent for its parent, Allegheny
Energy, Inc., the affiliates and subsidiaries of AESC and AEI, and
any successors or assigns of any of the foregoing previously
entered into that certain employment agreement with Philip L.
Goulding (the “Executive”) dated October 3, 2003
(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 13 of the Agreement
is amended and restated in its entirety to read as follows:
“13. Withholding and
Special Terms Relating to Payments and Benefits .
AESC 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 Executive under the
Agreement are subject to Section 409A(a)(2)(B) of the Internal
Revenue Code of 1986, as amended (the “Code”), any
requirements 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
(6) mon
