UNITIL CORP
EXHIBIT 10.1 WEB VERSION
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>4
<FILENAME>exhibit10-1.htm
<DESCRIPTION>EXHIBIT 10.1 WEB VERSION
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<P ALIGN=RIGHT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>Exhibit 10.1 </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2><U>UNITIL CORPORATION </U></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2><U>SEVERANCE AGREEMENT </U></FONT></P>

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<P><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS
AGREEMENT, dated this XX day of XXXXX, XXXX, made effective as of the date on which a
Change in Control (as defined in paragraph 2) occurs, by and among UNITIL Corporation
(&#147;UNITIL&#148;), a New Hampshire corporation, Exeter &amp; Hampton Electric Company,
a New Hampshire corporation and a wholly-owned subsidiary of UNITIL
(&#147;Subsidiary&#148;) (UNITIL and Subsidiary are herein referred to collectively as the
&#147;Company&#148;) and XXXXXXX XXXXXXXX having an address at XXXXXXX XXXX, XXXXXXXXX,
XXX XXXXXXXXX XXXXX (the &#147;Employee&#148;). </FONT></P>

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<P ALIGN="Center"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>W</U>
<U>I</U> <U>T</U> <U>N</U> <U>E</U> <U>S</U> <U>S</U> <U>E</U> <U>T</U> <U>H</U>&nbsp;&nbsp;&nbsp; <U>T</U>
<U>H</U> <U>A</U> <U>T</U>: </FONT></P>

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<P><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
the Employee is an employee of the Company and an integral part of its management who
participates in the decision making process relative to short and long-term planning and
policy for the Company; </FONT></P>

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<P><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
the Board of Directors of UNITIL, at its meeting on September 16, 1988, determined that it
would be in the best interests of UNITIL, its shareholders and the Employee to assure
continuity in the management of the Company&#146;s administration and operations in the
event of a Change in Control by entering into an employment agreement to retain the
services of the Employee, and the Board of Directors of Subsidiary, at its meeting on
September 16, 1988, made the same determination; and </FONT></P>

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<P><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
the Employee agrees to the amendment and restatement of the previously described
employment agreement as set forth herein and as approved by the Board of Directors of
UNITIL at its meeting on January 17, 1989. </FONT></P>

<BR><BR>

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<P><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW,
THEREFPORE, it is hereby agreed by and between the parties hereto as follows: </FONT></P>

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          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>1.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Employment</U>. The Company agrees to continue the Employee in its employ and
          the Employee agrees to remain in the employ of the Company for the period stated
          in paragraph 4 hereof and upon the other terms and conditions herein provided. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>2.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Change in Control</U>. The term, &#147;Change in Control,&#148; shall mean
          the occurrence of any of the following: </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH="10%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT></TD>
          <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          UNITIL receives a report on Schedule 13D filed with the Securities and Exchange
          Commission pursuant to Section 13(d) of the Securities Exchange Act of 1934, as
          amended (hereinafter referred to as the &#147;Exchange Act&#148;), disclosing
          that any person, group, corporation or other entity is the beneficial owner,
          directly or indirectly, of twenty-five percent or more of the outstanding common
          stock of UNITIL; </FONT></TD>
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          <BR>

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          <TD WIDTH=10%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT></TD>
          <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
           any person (as such term is defined in Section 13(d) of the
          Exchange Act), group, corporation or other entity other than UNITIL or a
          wholly-owned subsidiary of UNITIL, purchases shares pursuant to a tender offer
          or exchange offer to acquire any common stock of UNITIL (or securities
          convertible into common stock) for cash, securities or any other consideration,
          provided that after consummation of the offer, the person, group, corporation or
          other entity in question is the beneficial owner (as such term is defined in
          Rule 13d-3 under the Exchange Act), directly or indirectly, of twenty-five
          percent or more of the outstanding common stock of UNITIL (calculated as
          provided in paragraph (d) of Rule 13d-3 under the Exchange Act in the case of
          rights to acquire common stock);</FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=10%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT></TD>
          <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          the stockholders of UNITIL approve (i) any
          consolidation or merger of UNITIL in which UNITIL is not the continuing or
          surviving corporation or pursuant to which shares of common stock of UNITIL
          would be converted into cash, securities or other property, or (ii) any sale,
          lease, exchange or other transfer (in one transaction or a series of related
          transactions) of all or substantially all the assets of UNITIL; or </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH="10%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)</FONT></TD>
          <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          there shall have been a change in a majority of the members of the Board of Directors
          of UNITIL within a 25 month period unless the election or nomination for
          election by the UNITIL&#146;s stockholders of each new director was approved by
          the vote of two-thirds of the directors then still in office who were in office
          at the beginning of the 25 month period. </FONT></TD>
          </TR>
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          <BR>



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<P><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary in the foregoing, a &#147;Change in Control&#148; shall not mean
or be construed to be a transaction solely pursuant to which Fitchburg Gas and Electric
Light Company (&#147;FG&amp;E&#148;) becomes a direct or indirect wholly-owned subsidiary
of UNITIL, whether by way of a merger with a subsidiary of UNITIL or otherwise. </FONT></P>

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          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>3.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Position and Responsibilities</U>. During the period of employment hereunder,
          the Employee agrees to serve the Company in an executive capacity. Such service
          shall involve duties and responsibilities at least equal in importance and scope
          to those of the Employee&#146;s position immediately prior to the effective date
          of this Agreement, as the Board of Directors, the Chairman of the Board of
          Directors or chief executive officer or any other executive officer of the
          Company to whom the Employee reports may from time to time determine. During
          said period, the Employee also agrees to serve, if elected, as an officer and/or
          director of any subsidiary or affiliate of the Company. </FONT></TD>
          </TR>
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          <BR>

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          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>4.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Term and Duties</U>. </FONT></TD>
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          <BR>

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          <TD WIDTH="10%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT></TD>
          <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          The period of the Employee&#146;s employment under this Agreement shall be
          deemed to have commenced as of the effective date of this Agreement and shall
          continue for a period of 36 full calendar months thereafter.</FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH="10%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT></TD>
          <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          During the period of employment hereunder and except for illness or incapacity and
          reasonable vacation periods, the Employee&#146;s business time, attention, skill
          and efforts shall be exclusively devoted to the business and affairs of the
          Company; provided, however, that nothing in this Agreement shall preclude the
          Employee from devoting time during reasonable periods required for   </FONT></TD>
          </TR>
          </TABLE>
          <BR>


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               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(i) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
                       serving as a director or member of a committee of any company or organization involving
          no conflict of interest with the Company or any of its subsidiaries or affiliates or serving as an officer or director of and
rendering services to Fitchburg Gas and Electric Light Company (&#147;Fitchburg&#148;),</FONT></TD>
               </TR>
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               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(ii) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               delivering lectures and fulfilling speaking engagements, and </FONT></TD>
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               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(iii) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               engaging in charitable and community activities, provided that such activities
               do not materially affect or interfere with the performance of the
               Employee&#146;s obligations to the Company. </FONT></TD>
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               <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>5.</FONT></TD>
               <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               <U>Compensation</U>. </FONT></TD>
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               <TR VALIGN=TOP>
               <TD WIDTH="10%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT></TD>
               <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               For all services rendered by the Employee in any capacity during employment
               under this Agreement, including services as an executive, officer, director, or
               member of any committee of the Company or of any subsidiary or affiliate of the
               Company, the Company shall pay the Employee a fixed salary at an annual rate not
               less than the annual rate of salary being paid to Employee immediately prior to
               the effective date of this Agreement. Such salary shall be subject to such
               periodic percentage increases after the effective date of this Agreement as the
               Company pays generally to the Company&#146;s senior management employees from
               time to time, and shall be payable in accordance with the customary payroll
               practices of the Company. Such periodic increases in salary, once granted, shall
               not be subject to revocation. </FONT></TD>
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               <TD WIDTH="10%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT></TD>
               <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               In addition to the salary payable under subsection (a), above, the Company shall
               also pay to the Employee annual bonuses in an amount at least equal to the
               amount of the last payment to the Employee under any short-term incentive
               performance program of the Company or any subsidiary of the Company in effect
               during the twelve month prior to the effective date of this Agreement. Nothing
               in this subsection (b) shall be deemed to require the Company to (i) have or
               continue an incentive performance program in effect prior to the effective date
               of this Agreement or (ii) award to the Employee any bonuses under such program
               prior to the effective date of this Agreement. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH="10%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT></TD>
               <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               Nothing in this Agreement shall preclude or affect any rights or benefits that
               may now or hereafter be provided for the Employee or for which the Employee may
               be or become eligible under any bonus or other form of compensation or employee
               benefit plan now existing or that may hereafter be adopted or awarded by the
               Company. Specifically, the Employee shall:   </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(i) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>participate in the UNITIL
               Corporation Retirement Plan, the Concord Electric Company Retirement or the
               Exeter &amp; Hampton Electric Company Retirement Plan, depending upon which of
               said retirement plans the Employee was participating in immediately prior to the
               effective date of this Agreement, and any related excess benefit or supplemental
               retirement program (hereinafter referred to collectively as the &#147;Retirement
               Program&#148;); </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(ii) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               participate in any savings or thrift plan maintained by the Company; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(iii) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               participate in any stock option, stock appreciation right, equity incentive or
               deferred compensation plan maintained by the Company; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(iv) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               participate in the Company&#146;s death benefit plans; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(v) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>participate in the
               Company&#146;s disability benefit plans; </FONT></TD>
               </TR>
               </TABLE>
               <BR>


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               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(vi) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               participate in the Company&#146;s medical, dental and health and welfare plans;
               and </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(vii) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               participate in equivalent successor plans of the Company for which senior
               management employees are eligible; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="700" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=10%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>provided, however, that nothing in this
               Agreement shall preclude the company from amending or terminating any such plan
               or program, on the condition that such amendment or termination is applicable to
               all of the Company&#146;s senior management employees generally. For purposes of
               the foregoing, any plan or program maintained by any subsidiary of the Company
               which is made available to the senior management of the Company and its
               subsidiaries taken as a whole, shall be deemed to be a plan or program
               maintained by the Company. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>6.</FONT></TD>
               <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2><U>Business Expenses</U>. The Company shall pay or
               reimburse the Employee for all reasonable travel or other expenses incurred in connection
        with the performance of the Employee&#146;s duties under this Agreement in accordance with
        such procedures as the Company may from time to time establish. </FONT></TD>
        </TR>
        </TABLE>
        <BR>


          <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>7.</FONT></TD>
               <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               <U>Additional Benefits</U>. Nothing in this Agreement shall affect the
               Employee&#146;s eligibility to participate in all group health, dental,
               hospitalization, life, travel or accident or other insurance plans or programs
               and all other perquisites, fringe benefit or retirement plans or programs and
               all other perquisites, fringe benefit or retirement plans or additional
               compensation, including termination pay programs, which the Company or any
               subsidiary of the Company may hereafter, in their sole and absolute discretion,
               elect to make available to the senior management employees of the Company
               generally, and the Employee shall be eligible to receive, during the period of
               employment under this Agreement, all benefits and emoluments for which key
               employees are eligible under every such plan, program, perquisite or arrangement
               to the extent permissible under the general terms and provisions thereof. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>8.</FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               <U>Termination of Employment</U>. Notwithstanding any other provision of this
               Agreement, the Employee&#146;s employment under this Agreement may be
               terminated: </FONT></TD>
               </TR>
               </TABLE>
               <BR>


          <TABLE WIDTH="700" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH="10%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT></TD>
               <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               by the Company, in the event of the Employee&#146;s conviction for the
               commission of a felony or in the event of the Employee&#146;s fraud or
               dishonesty which has resulted or is likely to result in material economic damage
               to the Company or any of its subsidiaries, as determined in good faith by the
               Directors of the Company at a meeting of the Board of Directors at which the
               Employee is provided an opportunity to be heard;  </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="700" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=10%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>by either the Company or
               the Employee, if the Employee accepts employment or a consulting position with
               another company <U>(provided</U>, that the foregoing shall not apply with
               respect to Fitchburg);  </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="700" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=10%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>by the Employee, if he determines in good faith that
               there has been any (i) material change by the Company of the Employee&#146;s
               functions, duties or responsibilities which change would cause the
               Employee&#146;s position with the Company to become of less dignity,
               responsibility, importance, prestige or scope from that described in paragraph 3
               above, including, without limitation, a diminution in perquisites to which the
               Employee is currently entitled, such as office size and status, and secretarial
               and clerical staff, (ii) assignment or reassignment by the Company of the
               Employee to another place of employment more than 50 miles from the
               Employee&#146;s current place of employment, (iii) liquidation, dissolution,
               consolidation or merger of the Company, or transfer of all or substantially all
               of its assets, other than a transaction in which a successor corporation with a
               net worth at least equal to that of the Company assumes this Agreement and all
               obligations and undertakings of the Company hereunder, (iv) reduction in the
               Employee&#146;s total compensation or any component thereof, as specified in
               paragraph 5 above, except as part of a salary reduction program affecting the
               management employees of the Company and its subsidiaries generally, or (v) other
               material breach of this Agreement by the Company, by written notice to the
               Company, specifying the event relied upon for such termination and given at any
               time within 1 year after the occurrence of such event; or  </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="700" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=10%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>by the Employee,
               if there is a termination of the Service Agreement by and between the Company
               and UNITIL Service Corp. (&#147;UNITIL Service&#148;) dated as of January 23,
               1985 (the Service Agreement); or  </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="700" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=10%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>by the Company upon the Disability or death
               of the Employee. For purposes of this Agreement, the term &#147;Disability&#148;
               is defined as the inability of the Employee to engage in his regular occupation
               for 12 consecutive months and the inability thereafter to engage in any
               occupation in which the Employee could reasonably expect to engage giving due
               consideration to Employee&#146;s education, training and experience. The
               Employee must be under the regular medical care of a physician in connection
               with treatment for Disability. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>9.</FONT></TD>
               <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               <U>Payments Upon Termination of Employment</U>. </FONT></TD>
               </TR>
               </TABLE>
               <BR>


          <TABLE WIDTH="700" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH="10%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               In the event of any termination of the Employee&#146;s employment hereunder (i)
               by the Employee pursuant to paragraph 8(c) and 8(d) above, or (ii) by the
               Company for any reason other than one of those specified in paragraph 8(a), 8(b)
               or 8(e) above, then, within five (5) business days after such termination
               (except as provided in paragraph 9(s)(iv)(2)) the Company shall pay to the
               Employee the following amounts, and shall provide the Employee and the
               dependents, beneficiaries and estate of the Employee with the following, as
               liquidated damages or severance pay, or both: </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(i) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               A lump sum cash amount equal to the present value of the product obtained by
               multiplying (l) the monthly amount of the salary and one-twelfth the annual
               bonus provided for in paragraphs 5(a) and 5(b) above, which was being paid by
               the Company to the Employee at the time of such termination, by (2) 36; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(ii) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               A lump sum cash amount equal to the present value of the excess of (1) the
               aggregate benefit that would have been paid under the Retirement Program
               described in paragraph 5(c)(i), above, as in effect on the date of this
               Agreement. If the Employee had continued to be employed and to be entitled to
               service credit for eligibility and benefit purposes during the 36-month period
               immediately following such termination, over (2) the aggregate benefit actually
               payable under the Retirement Program and any successor retirement program of the
               Company. For purposes of such calculation, the following assumptions shall
               apply: (1) that the Employee would continue to be compensated during the 36
               month period following termination at an annual rate of compensation equal to
               that used to calculate the payments provided by paragraph 9(a) above, calculated
               on the basis of the compensation amount used in the benefit formula under the
               Retirement Program; (2) that the Employee is fully vested in the benefit payable
               under the Retirement Program; and (3) that the aggregate benefit that would have
               been paid under the Retirement Program is as of either the normal or early
               retirement date for which the Employee would have qualified, if the Employee
               were still employed on that date, whichever would produce the highest present
               value amount payable under this paragraph; and (4) that for purposes of the
               calculation of the lump sum cash amount as described herein it will be assumed
               that the Employee would receive aggregate retirement benefits for a period to be
               determined by an actuarial analysis in accordance with the standard assumptions
               used in providing annual funding for the Company&#146;s normal Retirement
               Program. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(iii) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               A lump sum cash amount equal to the present value of the contributions which
               would have been made by the Company or any subsidiary of the Company to the
               Employee&#146;s account pursuant to any savings or thrift plan maintained by the
               Company or any subsidiary of the Company in which the Employee was participating
               immediately prior to such termination, calculated as if the Employee had
               continued to be employed and to be entitled to such contributions during the
               36-month period immediately following such termination, at a rate of
               contribution equal to that made by the Company or any subsidiary of the Company
               during the most recent contribution period preceding such termination; and </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(iv) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
               A lump sum cash amount equal to (1) the economic benefit that the Employee would
               have received on any outstanding Company stock options, including any associated
               dividend equivalents, assuming such options remained unexercised until the day
               preceding the expiration of the grant on such options, based on assumptions
               determined by the Compensation Committee upon advice of an independent financial
               advisor and (2) the spread on any Company stock options which would have been
               granted to the Employee during the 36-month period immediately following such
               termination. For purposes of paragraph 9(a)(iv)(2) hereof, the following
               assumptions shall apply: (1) that the Employee continued to be employed during
               such 36-month period, and (2) if such termination occurs prior to the first
               grant of options to the Employee in calendar year 1990, that the Employee would
               have received a grant of options to purchase the number of shares which the
               Employee is entitled to purchase under the option or options that the Employee
               received in calendar year 1989, and, if such termination occurs thereafter, that
               the Employee would have continued receiving annual grants of options to purchase
               a number of shares of the Company&#146;s common stock equal to the number of
               shares which the Employee is entitled to purchase under the option or options
               that the Employee received in the calendar year in which the Employee lasts
               received options to purchase Company common stock (assuming such options are
               exercisable in full and excluding options granted in calendar year 1989 and
               1990), and calculated on the assumption that such options were granted to the
               Employee at the beginning of each calendar year during such 36-month period at
               the same time and at the same exercise price as the option to purchase Company
               common stock which is first granted to any other senior executive of the Company
               during each such year; provided, however, that if the Employee was granted an
               option to purchase Company common stock during the calendar year in which his
               employment terminates and prior to such termination of employment, no additional
               payments shall be made to him under this paragraph 9(a)(iv)(2) with respect to
               such calendar year; further provided, that for purposes of this paragraph
               9(a)(iv)(2), the spread shall be calculated based on the closing price of the
               Company&#146;s common stock on the last business day of such 36-month period;
               and further provided, that if such 36-month period does not end with the month
               of December, the payment to the Employee under this paragraph 9(a)(iv)(2) with
               respect to the calendar year in which such 36-month period ends shall be
               multiplied by a fraction, the numerator of which is the number of months of the
               36-month period in such year and the denominator of which is twelve. Any payment
               to the Employee under this paragraph 9(a)(iv)(2) shall be made within five (5)
               business days after the expiration of such 36-month period unless delayed
               pursuant to the following paragraph. For purposes of this paragraph 9, the term
               &#147;spread&#148; means the excess, if any, of the closing price on a national
               stock exchange (or if the stock is no longer traded on a national stock
               exchange, any regional or over-the-counter exchange on which it is traded) of
               the Company&#146;s stock multiplied by the number of the shares of Company
               common stock subject to a stock option, over the option exercise price for such
               option. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=75%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
Notwithstanding
anything to the contrary in this paragraph 9(a)(iv)(2), if as of the applicable
calculation date, the Company&#146;s common stock is no longer traded on any national,
regional or over-the-counter stock exchange, the fair market value of the Company&#146;s
common stock for purposes of determining the amount of spread shall be the amount agreed
to by the Employee and the Company. However, if the Employee and the Company are not able
to agree on a fair market value within ten (10) days after the date payment is due to be
made to the Employee under this paragraph 9(a)(iv)(2), the fair market value of a share of
the Company&#146;s common stock shall be determined by a qualified and independent
appraiser selected by the Assistant Regional director of the American Arbitration
Association or his delegate. Such appraiser shall deliver its final report to the Company
and the Employee immediately upon completion. The determination of the appraiser shall be
final and binding on all parties and shall include interest on such amount computed from
the date payment is due at such rate as determined by the arbitrator. Any payment to the
Employee under paragraph 9(a)(iv)(2), which was delayed pending such appraisal, shall be
made within five (5) business days after the appraiser delivers its report to the Company
and the Employee. All fees, costs and expenses associated with such appraisal (including
those of the arbitrator) shall be paid by the Company.</FONT></TD>
</TR>
</TABLE>
<BR>

          <TABLE WIDTH="700" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=10%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) </FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
                    For purposes of calculating the lump sum cash payments provided by paragraphs
                    9(a)(i) through (iv), above, present value shall be determined by using a
                    discount factor equal to one percentage point below the Prime Rate, compounded
                    annually. The &#147;Prime Rate&#148; shall be the base rate on corporate loans
                    at large U.S. money center commercial banks as reported in <U>The</U>
                    <U>Wall</U> <U>Street</U> <U>Journal </U>(or, if such rate is no longer
                    published, such other base rate on corporate loans by large money center
                    commercial banks in the United States to their most credit-worthy customers as
                    published by any newspaper or periodical of general circulation) as of the date
                    on which termination shall have occurred. </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

          <TABLE WIDTH="700" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=10%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) </FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
                    For a period of 36 months (commencing with the month in which termination shall
                    have occurred), the Employee shall continue to be entitled to all employee
                    benefits provided for in paragraphs 5(c)(iv) through (vi), above, as if the
                    Employee were still employed during such period under this Agreement, with
                    benefits based upon the compensation used to calculate the payments provided by
                    paragraph 9(a) above, and if and to the extent that such benefits shall not be
                    payable or provided under any such plan, the Company shall pay or provide such
                    benefits on an individual basis. The benefits provided for in paragraph
                    5(c)(vi), above, in accordance with this paragraph 9(c) shall be secondary to
                    any comparable benefits provided by another employer. </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

          <TABLE WIDTH="700" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=10%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)</FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>Notwithstanding the
                    termination of the Employee, in the event a Change in Control occurs prior to a
                    vote of the shareholders of the Company on the approval of the UNITIL Stock
                    Option Plan, as approved by the Board of Directors of the Company on January 17,
                    1989, then, within five (5) business days of such Change in Control, the Company
                    shall pay to the Employee a lump sum cash amount equal to the economic benefit
                    that the Employee would have received on any Company stock options granted
                    subject to shareholder approval, had the shareholders approved such Plan,
                    including any associated dividend equivalents, assuming that the options
                    remained unexercised until the day preceding the expiration of such plan, based
                    on assumptions determined by the Compensation Committee upon the advice of an
                    independent financial advisor. </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

          <TABLE WIDTH="700" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=10%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) </FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
                    (i) In the event it shall be determined that any payment or distribution by the
                    Company to or for the benefit of the Employee, whether paid or payable or
                    distributed or distributable pursuant to the terms of this Agreement or
                    otherwise (a &#147;Payment&#148;), would be subject to the excise tax imposed by
                    Section 4999 of the Internal Revenue Code of 1986, as amended (the
                    &#147;Code&#148;) (or any successor thereto) or comparable state or local tax or
                    any interest or penalties with respect to such excise tax or comparable state or
                    local tax (such excise tax, together with any such interest and penalties, are
                    hereinafter collectively referred to as the &#147;Excise Tax&#148;), then the
                    Employee shall be entitled to receive an additional payment (a &#147;Gross-Up
                    Payment&#148;). The Gross-Up Payment shall be equal to the sum of the Excise Tax
                    and all taxes (including any interest or penalties imposed with respect to such
                    taxes) imposed upon the Gross-Up Payment. </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(ii) </FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
                    If the Employee determines that a Gross-Up Payment is required, the Employee
                    shall so notify the Company in writing, specifying the amount of Gross-Up
                    Payment required and details as to the calculation thereof. The Company shall
                    within 30 days either pay such Gross-Up Payment (net of applicable wage
                    withholding) to the Employee or furnish an unqualified opinion from Independent
                    Tax Counsel (as defined below), addressed to the Employee and the Company, that
                    there is substantial authority (within the meaning of section 6661 of the Code)
                    for the position that no Gross-Up Payment is required. &#147;Independent Tax
                    Counsel&#148; means a lawyer with expertise in the area of executive
                    compensation tax law, who shall be selected by the Employee and shall be
                    reasonable acceptable to the Company, and whose fees and disbursements shall be
                    paid by the Company. </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(iii) </FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
                    If the Internal Revenue Service or other tax authority proposes in writing an
                    adjustment to the income tax of the Employee which would result in a Gross-Up
                    Payment, the Employee shall promptly notify the company in writing and shall
                    refrain for at least thirty days after giving such notice, if so permitted by
                    law, from paying any tax (including interest, penalties and additions to tax)
                    asserted to be payable as a result of such proposed adjustment. Before the
                    expiration of such period, the Company shall either pay the Gross-Up Payment or
                    provide an opinion from Independent Tax Counsel to the Employee and the Company
                    as to whether it is more likely than not that the proposed adjustment would be
                    successfully challenged if the matter were to be litigated. If the opinion
                    provides that a challenge would be more likely than not to be successful if the
                    issue were litigated, and the Company requests in writing that the Employee
                    contest such proposed adjustment, then the Employee shall contest the proposed
                    adjustment and shall consult in good faith with the Company with respect to the
                    nature of all action to be taken in furtherance of the contest of such proposed
                    adjustment; <U>provided</U> that the Employee, after such consultation with the
                    Company, shall determine in his sole discretion the nature of all action to be
                    taken to contest such proposed adjustment, including (A) whether any such action
                    shall initially be by way of judicial or administrative proceedings, or both,
                    (B) whether any such proposed adjustment shall be contested by resisting payment
                    thereof or by paying the same and seeking a refund thereof, and (C) if the
                    Employee shall undertake judicial action with respect to such proposed
                    adjustment, the court or other judicial body before which such action shall be
                    commenced and the court or other judicial body to which any appeals should be
                    taken. The Employee agrees to take appropriate appeals of any judicial decision
                    that would require the Company to pay a Gross-Up Payment, provided the Company
                    requests in writing that the Employee do so and provides an opinion from
                    Independent Tax Counsel to the Employee and the Company that it is more likely
                    than not that the appeal would be successful. The Employee further agrees to
                    settle, compromise or otherwise terminate a contest with the Internal Revenue
                    Service or other tax authority with respect to all or a portion of the proposed
                    adjustment giving rise to the Gross-Up Payment, if requested by the Company in
                    writing to do so at any time, in which case the Employee shall be entitled to
                    receive from the Company the Gross-Up Payment. In no event shall the Employee
                    compromise or settle all or any portion of a proposed adjustment which would
                    result in a Gross-Up Payment without the written consent of the Company. </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>The
Employee shall not be required to take or continue any action pursuant to this paragraph
9(e) unless the Company acknowledges its liability under this Agreement in the event that
the Internal Revenue Service or other tax authority prevails in this contest. The Company
hereby agrees to indemnify the Employee in a manner reasonably satisfactory to the
Employee for any fees, expenses, penalties, interest or additions to tax which the
Employee may incur as a result of contesting the validity of any Excise Tax and to pay the
Employee promptly upon receipt of a written demand therefore all costs and expenses which
the Employee may incur in connection with contesting such proposed adjustment (including
reasonable fees and disbursements of Independent Tax Counsel); provided, however, that the
Company shall not be required to pay any amount necessary to permit the Employee&#146;s
institution of a claim for refund under this paragraph 9(e)(iii). </FONT>
</TD>
</TR>
</TABLE>
<BR>

          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>If
the Employee shall have contested any proposed adjustment as above provided, and for so
long as the employee shall be required under the terms of this paragraph 9(e)(iii) to
continue such contest, the Company shall not be required to pay a Gross-Up Payment until
there occurs a Final Determination (as defined below) of the liability of the Employee for
the tax and any interest, penalties and additions to tax asserted to be payable as a
result of such proposed adjustment. A &#147;Final Determination&#148; shall mean (A) a
decision, judgment, decree or other order by any court of competent jurisdiction, which
decision, judgment, decree or other order has become final after all allowable appeals by
either party to the action have been exhausted, the time for filing such appeal has
expired or the Company has no right under the terms hereof to request an appeal, (ii) a
closing agreement entered into under section 7121 of the code or any other settlement
agreement entered into in connection with an administrative or judicial proceeding and
with the consent of the Company, or (iii) the expiration of the time for instituting a
claim for refund, or if such a claim was filed, the expiration of the time for instituting
suit with respect thereto. </FONT>
</TD>
</TR>
</TABLE>
<BR>

          <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(iv)</FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          In the event the Employee receives any refund from the Internal Revenue Service
          or other tax authority on account of an overpayment of Excise Tax, such amount
          and interests attributable thereto shall be promptly paid by the Employee to the
          Company. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>10.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Source of Payments</U>. All payments provided for in paragraphs 5, 6, 7 and 9
          shall be paid in cash from the general funds of the Company and its
          subsidiaries. The Company shall not be required to establish a special or
          separate fund or other segregation of assets to assure such payments. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>11.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Litigation Expenses</U>. In the event of any litigation or other proceeding
          between the Company and the Employee with respect to the subject matter of this
          Agreement and the enforcement of rights hereunder, the Company shall reimburse
          the Employee for all reasonable costs and expenses relating to such litigation
          or other proceeding as they are incurred, including reasonable attorneys fees
          and expenses, regardless of whether such litigation results in any settlement or
          judgment or order in favor of any party; provided, however, that any claim or
          action initiated by the Employee relating to this Agreement shall have been made
          or brought after reasonable inquiry and shall be well grounded in fact and
          warranted by existing law or a good faith argument for the extension,
          modification, or reversal of existing law, and that it is not interposed for any
          improper purpose, such as to harass or to cause unnecessary delay or needless
          increase in the cost of litigation. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
any provision of New Hampshire law to the contrary, in no event shall the Employee be
required to reimburse the Company for any of the costs and expenses relating to such
litigation or other proceeding. The obligation of the Company under this paragraph 11
shall survive the termination for any reason of this Agreement (whether such termination
is by the Company, by the Employee, upon expiration of this Agreement or otherwise). </FONT>
</TD>
</TR>
</TABLE>
<BR>

     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>12.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Income Tax Withholding</U>. The Company may withhold from any payments made
          under this Agreement all federal, state, city or other taxes as shall be
          required pursuant to any law or governmental regulation or ruling. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>13.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Entire Understanding</U>. This Agreement contains the entire understanding
          between the Company and the Employee with respect to the subject matter hereof
          and supersedes any prior employment agreement between the Company and the
          Employee, except that his Agreement shall not affect or operate to reduce any
          benefit or compensation inuring to the Employee of a kind elsewhere provided and
          not expressly provided for in this Agreement. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>14.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Severability</U>. If, for any reason, any one or more of the provisions or
          part of a provision contained in this Agreement shall be held to be invalid,
          illegal or unenforceable in any respect, such invalidity, illegality or
          unenforceability shall not affect any other provision or part of a provision of
          this Agreement not held so invalid, illegal or unenforceable, and each other
          provision or part of a provision shall to the full extent consistent with law
          continue in full force and effect. If this Agreement is held invalid or cannot
          be enforced, then to the full extent permitted by law any prior agreement
          between the Company and the Employee shall be deemed reinstated as if this
          Agreement had not been executed. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>15.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Consolidation, Merger, or Sale of Assets</U>. Nothing in this Agreement shall
          preclude the Company from consolidating or merging into or with, or transferring
          all or substantially all of its assets to, another corporation with a net worth
          at least equal to that of the Company and which assumes this Agreement and all
          obligations and undertakings of the Company hereunder. Upon such a
          consolidation, merger or transfer of assets and assumption, the term &#147;the
          Company&#148;, as used herein shall mean such other corporation and this
          Agreement shall continue in full force and effect. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>16.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Notices</U>. All notices, requests, demands and other communications required
          or permitted hereunder shall be given in writing and shall be deemed to have
          been duly given if delivered or mailed, postage prepaid, first class as follows: </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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     <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(a)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          to the Company: </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=33%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=33%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>  </FONT></TD>
<TD WIDTH=33%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>UNITIL Corporation<BR>216 Epping Road<BR>
                                Exeter, New Hampshire 03833<BR>
                                Attention:  Secretary  </FONT></TD>
</TR>
</TABLE>
<BR>



     <TABLE WIDTH="600" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH=5%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>(b)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          to the Employee: </FONT></TD>
          </TR>
          </TABLE>
          <BR>

<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=33%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=33%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>  </FONT></TD>
<TD WIDTH=33%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>at the address set forth at the beginning of this Agreement </FONT></TD>
</TR>
</TABLE>

<BR>


     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>or
to such other address as either party shall have previously specified in writing to the
other. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>17.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>No Attachment</U>. Except as required by law, no right to receive payments
          under this Agreement shall be subject to anticipation, commutation, alienation,
          sale assignment, encumbrance, charge, pledge, or hypothecation or to execution,
          attachment, levy, or similar process or assignment by operation of law, and any
          attempt, voluntary or involuntary, to effect any such action shall be null, void
          and of no effect. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>18.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Binding Agreement</U>. This Agreement shall be binding upon, and shall inure
          to the benefit of, the Employee and the Company and their respective permitted
          successors and assigns. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>19.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Modification and Waiver</U>. This Agreement may not be modified or amended
          except by an instrument in writing signed by the parties hereto. No term or
          condition of this Agreement shall be deemed to have been waived, nor shall there
          be any estoppel against the enforcement of any provision of this Agreement
          except by written instrument signed by the party charged with such waiver or
          estoppel. No such written waiver shall be deemed a continuing waiver unless
          specifically stated therein, and each such waiver shall operate only as to the
          specific term or condition waived and shall not constitute a waiver of such term
          or condition for the future or as to any act other than that specifically
          waived. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>20.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Headings of No Effect</U>. The paragraph headings contained in this Agreement
          are included solely for convenience of reference and shall not in any way affect
          the meaning or interpretation of any of the provisions of this Agreement. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

     <TABLE WIDTH="800" CELLPADDING="0" CELLSPACING="0" BORDER="0" ALIGN="Center">
          <TR VALIGN=TOP>
          <TD WIDTH="5%" ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>21.</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>
          <U>Governing Law</U>. This Agreement and its validity, interpretation,
          performance, and enforcement shall be governed by the laws of the State of New
          Hampshire, without giving effect to the choice of law provisions in effect in
          such State. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

<P><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its officers
thereunto duly authorized, and the Employee has signed this Agreement, all as of the date
first above written. </FONT></P>



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<TR VALIGN=TOP>
<TD WIDTH=40%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2></FONT></TD>
<TD WIDTH=10%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2><B>UNITIL CORPORATION</B><BR><BR>
<BR>BY: &nbsp;&nbsp;<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
&nbsp;<BR><BR><BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>Employee</FONT></TD>
</TR>
</TABLE>
<BR>

<BR><BR><BR><BR>



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<P ALIGN="Left"><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE="2"><U>Employees Who Have Executed Above
Severance Agreement:</U> </FONT> </P>

<BR><BR>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="760" ALIGN="Left">
<TR VALIGN=Bottom>
     <TD WIDTH=65% ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE="2"><U>Employee</U> </FONT></TD>
     <TD WIDTH=35% ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE="2"><U>Effective Date</U> </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>Robert G. Schoenberger</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>2/6/98</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>Mark H. Collin</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>8/27/92</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>George R. Gantz</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>2/21/89</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>Raymond J. Morrissey</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>8/18/92</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>Todd R. Black</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>9/11/98</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>Laurence M. Brock</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Arial, Helvetica, Sans-Serif" SIZE=2>8/28/95</FONT></TD></TR>
</TABLE>




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