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FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

Employment Agreement

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT | Document Parties: Pennichuck Corporation You are currently viewing:
This Employment Agreement involves

Pennichuck Corporation

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Title: FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Date: 11/14/2006

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Exhibit 10.4

 

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

 

      THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (the "Amendment") amends the Employment Agreement (the "Agreement") entered into as of January 31, 2005, by and between Pennichuck Corporation (the "Corporation"), a New Hampshire corporation with principal offices at 25 Manchester St., Merrimack, New Hampshire and Michael C.J. Fallon ("Executive"), of 11 Main St., Hancock, New Hampshire.

 

      WHEREAS, the Corporation and Executive desire to amend the Agreement in accordance with the terms and conditions hereinafter set forth;

 

      NOW, THEREFORE, in consideration of the mutual covenants herein contained, the continued employment of the Executive, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Corporation and Executive hereby amend the Agreement as follows:

 
 

      1.     Term . Section 3.1 of the Agreement is hereby amended by adding the following text to the end of the Section:

   
   

"Notwithstanding the foregoing, in the event there is a "Change of Control" (as that term is defined in Section 7.4 below), the Term of this Agreement will automatically be extended to 2 years, beginning on the day on which the Change of C


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