TERMINATION OF DEFERRED COMPENSATION AGREEMENT

Exhibit 10.49

IDACORP, INC.

TERMINATION OF

DEFERRED COMPENSATION AGREEMENT

TERMINATION OF DEFERRED COMPENSATION AGREEMENT, by and between [          ] (“Director”) and IDACORP, Inc. (the “Company”);

W I T N E S S E T H:

WHEREAS, Director is a member of the Board of Directors (the “Board”) of the Company; and

WHEREAS, Director has elected to defer all or a portion of Director cash fees for service as a member of the Board pursuant to [a] Deferred Compensation Agreement[s] dated __________ [and [__________] (collectively, the “Deferred Compensation Agreement”)][ADD THE FOLLOWING IF DIRECTOR HAS EXECUTED AN AMENDMENT TO DEFERRED COMPENSATION AGREEMENT: and an Amendment to Deferred Compensation Agreement dated _____________ (collectively, the “Deferred Compensation Agreement”)]; and

WHEREAS, Section 2 of the Deferred Compensation Agre