Company: DTK
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0000936340-25-000081
Chunk: 117

Company: DTE ENERGY CO
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 117
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(ii) Cash-Out of Outstanding Stock-Based Awards . Notwithstanding any provision of Section 15(b)(i) to the contrary, the Administrator may, in its discretion and without the consent of any Participant, determine that, upon the occurrence of a Change in Control, each or any Award denominated in Shares or portion thereof outstanding immediately prior to the Change in Control and not previously exercised or settled shall be canceled in exchange for a payment with respect to each vested Share (and each unvested Share, if so determined by the Administrator) subject to such canceled Award in (i) cash, (ii) stock of the Company or of a corporation or other business entity a party to the Change in Control, or (iii) other property which, in any such case, shall be in an amount having a Fair Market Value equal to the Fair Market Value of the consideration to be paid per Share in the Change in Control, reduced (but not below zero) by the exercise or purchase price per Share, if any, under such Award. In the event such determination is made by the Administrator, an Award having an exercise or purchase price per share equal to or greater than the Fair Market Value of the consideration to be paid per share of Stock in the Change in Control may be canceled without payment of consideration to the holder thereof. Payment pursuant to this Section 16 (reduced by applicable withholding taxes, if any) shall be made to Participants in respect of the vested portions of their canceled Awards as soon as practicable following the date of the Change in Control and in respect of the unvested portions of their canceled Awards in accordance with the vesting schedules applicable to such Awards.

17. Date of Grant . The date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination granting such Award, or a later date as is determined by the Administrator. The Administrator will provide a notice of the determination to each Participant within a reasonable time after the date of such grant.

18. Board and Stockholder Approval; Term of Plan . The Board approved this Plan on February 6, 2025 and the Company's stockholders approved this Plan on [May 8, 2025], to be effective [May 8, 2025]. From its effectiveness, this Plan will continue in effect for a term of ten (10) years unless terminated earlier under Section 18.

19. Amendment and Termination of this Plan .

(a) Amendment and Termination . The Board may at any time amend, alter