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Exhibit
10.12.1
FIRST AMENDMENT TO THE SEVERANCE AGREEMENT
BETWEEN SEMCO ENERGY, INC. AND
EUGENE N. DUBAY
THIS FIRST AMENDMENT to the Severance
Agreement (the “Agreement”) dated June 29, 2005, by and
between SEMCO Energy, Inc. (the “Company”), a
corporation organized and existing under the laws of the State of
Michigan, and Eugene N. Dubay (“Executive”) is made as
of this 22 nd day of February, 2007.
W I T N
E S S E
T H :
WHEREAS, the Company and the Executive entered
into the Agreement as of June 29, 2005;
WHEREAS, Section 3 of the Agreement provides
for Executive’s compensation;
WHEREAS, the Company’s Board of
Directors has, from time to time since the execution of the
Agreement approved adjustments to the Target Annual Bonus
opportunity and Long-Term Incentive Award Target set forth in the
Agreement; and
WHEREAS, the Company and Executive desire to
amend the Agreement to include the previously approved changes in
the Target Annual Bonus opportunity and Long-Term Incentive Award
Target for the Executive and to allow for increases in the
short-term and long-term incentive opportunity levels from time to
time without further amendments to
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