EXHIBIT 10.3

DESCRIPTION OF TERMS OF EMPLOYMENT OF LEON J. OLIVIER

The terms of Mr. Olivier's employment are as follows:

1.   Start Date:  September 10, 2001.

2.   Title:  President, The Connecticut Light and Power Company

3.   Base Salary:  $300,000

4.   Sign-on Bonus:  $100,000 of restricted shares and 10,000 stock options
vesting over three years, and payment to prior employer on account of voluntary
resignation.

5.   Incentive Opportunities:  Annual bonus and long term incentive program
participation under NU Incentive Plan, each at 50 percent of salary target
and 100 percent maximum.

6.   Pension:  Eligibility for the make-whole benefit under the  Supplemental
Executive Retirement Plan for Officers of Northeast Utilities System Companies
(the SERP), and duplication of pension arrangement with current employer as
follows:  If he is continuously employed with the Company until September 10,
2011 (or earlier with the Company's permission), eligible for a special
benefit, subject to reduction for termination prior to age 65, of three percent
of Final Average Compensation (as defined in the SERP) for each of the first
15 years of service since September 10, 2001 plus one percent of Final Average
Compensation for each of the second 15 years of service.  Alternatively, if he
does not voluntarily terminate his employment with the Company prior to his
60th birthday, or upon earlier termination upon a Change of Control, as defined
in the Special Severance Program for Officers of Northeast Utilities System
Companies, he may receive upon retirement a lump sum payment of $2,050,000
in lieu of the benefit described in the preceding sentence.  These benefits are
in lieu of the make-whole benefit and are offset by benefits payable under the
Northeast Utilities Service Company Retirement Plan.

7.   Previous pension:  Payment of $8,830.46 per month in special nonqualified
pension benefits on account of previous position in Northeast Utilities System
at Millstone Station is paid concurrently with current employment.

8.   Miscellaneous:  Retiree health benefits upon involuntary termination other
than for cause; leased vehicle; club membership; and five weeks vacation.


Summary prepared March 4, 2004