Exhibit 10.15
AMENDMENT TO SEVERANCE 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 David M. Feinberg (the “Executive”) dated
June 6, 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. A new paragraph is added to
the end of the Agreement to read as follows:
“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 you under the Agreement are subject to
Section 409A(a)(2)(B) of 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) months
after the date of termination. The Agreement shall be
interprete
