Exhibit 10(aa)(11)
CONSULTING AGREEMENT
AGREEMENT made as of August 7, 1997 between LONG ISLAND LIGHTING COMPANY, a
New York corporation, having its principal offices at 000 Xxxx Xxx Xxxxxxx Xxxx,
Xxxxxxxxxx, Xxx Xxxx 00000 (hereinafter the "Company") and XXXX X. XXXX,
residing in Old Westbury, New York (hereinafter the "Consultant");
WHEREAS, the Company has requested that the Consultant perform services for
it; and WHEREAS, the Consultant is willing to perform consulting services for
the Company;
NOW THEREFORE, it is agreed that:
1. Effective August 7, 1997, the Consultant will be engaged as a Consulting
Director for a period ending on the day of the 1998 Annual Meeting of
Shareholders. The Consultant will advise and counsel the Board of Directors
and any of its committees on various business and financial matters and any
other areas requested by or on behalf of the Board of Directors of the
Company.
2. For such services, the Consultant will receive an annual retainer equal to
the annual retainer paid to a duly elected Director, an additional $500.00
for each Board or Committee meeting attended and the same pension and
health benefits provided to a duly elected director. Consultant
acknowledges that he will participate in the Company's Directors' Stock
Unit Retainer Plan, which was effective January 1, 1996, and that at least
50% of Consultant's retainer will be applied to the purchase of stock
units.
3. The Consultant shall have the right to participate as a Consulting Director
in the Company's Deferred Compensation Plan for Directors and the Company's
Retirement Income Plan for Directors.
4. This agreement shall be governed by the laws of the State of New York.
IN WITNESS WHEREOF, this agreement has been executed this 7th day of
August, 1997.
CONSULTANT LONG ISLAND LIGHTING COMPANY
/s/ XXXX X. XXXX By: /s/ XXXXXXXX X. XXXXXX
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XXXX X. XXXX CORPORATE SECRETARY
