exv10w12xey






Exhibit 10.12(e)




AWARD AGREEMENT OF PERFORMANCE-BASED

RESTRICTED STOCK UNITS

UNDER THE ATMOS ENERGY CORPORATION

1998 LONG-TERM INCENTIVE PLAN




     This Award Agreement of Performance-Based Restricted Stock Units is dated as of April 29,
2008, by and between Atmos Energy Corporation, a Texas and Virginia corporation (the “Company”),
and [name of employee] (“Grantee”), pursuant to the Company’s 1998 Long-Term Incentive Plan (the
“Plan”). Capitalized terms that are used, but not defined, in this document shall have the meaning
set forth in the Plan.



     Pursuant to authorization by the Human Resources Committee of the Board of Directors (the
“Committee”), which has been designated by the Board of Directors of the Company to administer the
Plan, the parties agree as follows.




	1.	 	Grant of Units.





     The Company hereby grants to the Grantee a total of [number of RSU] performance-based
restricted stock units (“Units”) under the Plan, for no consideration from the Grantee, with the
restrictions set forth below. Each such Unit shall be a notional share of common stock of the
Company (“Common Stock”), with the value of each Unit being equal to the fair market value of a
share of Common Stock at any time.




	2.	 	Restrictions on Alienation of Units.





     Units awarded hereunder may not be sold, transferred, pledged, assigned, or otherwise
alienated in any manner, whether voluntarily, by operation of law, or otherwise, until the
restrictions on the Units are removed and the Units are delivered to the Grantee in the form of
shares of Common Stock in the manner described below in Section 8.




	3.	 	Number of Units Awarded.





     The number of Units ultimately to be awarded to the Grantee upon vesting is contingent upon
the cumulative amount of earnings per share achieved by the Company for the three year measurement
cycle, Fiscal Years 2008 through 2010 (October 1, 2007 through September 30, 2010). The percentage
of Units earned for each level of the cumulative amount of earnings per share is illustrated in the
performance schedule below. In addition, should the performance levels achieved be between the
stated criteria below, straight-line interpolation will be used. For example, should the
cumulative amount of earnings per share for the three-year period be
$[      ], the percentage of Units
earned would be 125% of the number of Units originally granted.



 









 





Performance-Based Restricted Stock Units

Performance Schedule for Grant of Performance Period FY 2008-2010




	 	 	 	 	 
	 	 	 	 	Restricted Stock Units
	Performance Level	 	Cumulative 3-Yr. EPS	 	Earned
	Below Threshold
	 	Less than $______
	 	0%
	Threshold
	 	$______
	 	50%
	Target
	 	$______
	 	100%
	Maximum
	 	$______
	 	150%







	4.	 	Forfeiture of Units.





     All Units granted will be forfeited if, prior to the removal of restrictions on the Units
awarded hereunder as provided below in Section 8, the Grantee voluntarily or involuntarily
terminates employment for any reason other than as described below in Section 5. Each Grantee, by
his or her acceptance of the Units, agrees to execute any documents requested by the Company in
connection with such forfeiture. Such provisions with respect to forfeited Units shall be
specifically performable by the Company in a court of equity or law. Upon any forfeiture, all
rights of the Grantee with respect to the forfeited Units shall cease and terminate, without any
further obligation on the part of the Company.




	5.	 	Removal of Restrictions due to Death, Terminations due to Total and Permanent Disability
and Retirement, Certain Involuntary Terminations, and Terminations following a Change in
Control.





     At the time and on the date of the Grantee’s death, termination of employment due to Total and
Permanent Disability or Retirement (but not before attaining the age of 55, unless expressly
approved in advance by the Company), involuntary termination of employment due to a general
reduction in force or specific elimination of the Grantee’s job, or termination of employment for
any reason following a Change in Control, while employed by the Company or a Subsidiary, all
restrictions placed on each Unit awarded shall be removed, and the measurement cycle for purposes
of Section 6 and Section 8 below will be deemed to have ended. The amount of the award of Units
shall be prorated, which will be the product of the “Target” performance level discussed above in
Section 3, multiplied by the ratio of actual months of service to 36 months of the original
measurement cycle, with the resulting product being increased, if appropriate, as provided below in
Section 6. The Grantee, or his legal representatives, beneficiaries or heirs shall be entitled to
a distribution of shares of Common Stock equal in number to such prorated amount of Units at the
time provided for in Section 8.



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	6.	 	Account Credits.  





     No physical certificates representing the number of Units awarded shall be issued to the
Grantee, but an account will be established and maintained for the Grantee, in which each grant of
Units to the Grantee will be recorded, with the final number of Units as determined in accordance
with Section 3 or Section 5 above. During such time, the Grantee shall not have any of the rights
of a shareholder of the Company with respect to the Units, except that upon the vesting of the
Units as described above in Section 5 or below in Section 8, the Grantee’s account shall be
credited with the amount of Units equal to the amount of dividends that are declared and paid on
shares of Common Stock during each fiscal quarter of the measurement cycle, in accordance with
Section 3 or Section 5 above (“dividend equivalents”). The number of Units upon which dividend
equivalents will be credited for the benefit of the Grantee is the total amount of Units finally
determined to have been earned by the Grantee at the end of the measurement cycle in accordance
with Section 3 or Section 5 above, as appropriate. The total amount of each quarterly dividend
equivalent shall be converted to Units, by dividing such dividend equivalent amount by the price of
the Common Stock on the last trading day of the month during each quarter that such dividends are
paid during the appropriate measurement cycle.




	7.	 	Adjustment Upon Changes in Stock.





     If there shall be any change in the number of shares of Common Stock outstanding resulting
from subdivision, combination, or reclassification of shares, or through merger, consolidation,
reorganization, recapitalization, stock dividend, stock split or other change in the corporate
structure, an appropriate adjustment in the number of Units with respect to which restrictions have
not lapsed shall be made by the Committee. Depending upon the change in corporate structure, the
Committee will issue additional Units or substitute Units to the Grantee for his account, which
shall have the same restrictions, terms and conditions as the original Units.




	8.	 	Removal of Restrictions and Distribution of Common Stock.





     The Grantee shall receive a distribution of whole shares of Common Stock equal in number to
the Units finally determined to be earned as set forth in Section 3 above, as increased, if
appropriate, as provided in Section 6 above, provided the Grantee has been an employee of the
Company or a Subsidiary with continuous service during the term of the measurement cycle, except in
the event of the Grantee’s employment termination as discussed above in Section 5. Distribution of
shares of Common Stock as provided for in this Section 8 or above in Section 5 shall occur as soon
as administratively possible following the last trading day of the quarter in which the measurement
cycle ends, as provided for in either Section 3 or Section 5 above, as the case may be, on a date
within the same calendar year or, if later, not more than 90 days following the date upon which the
Grantee incurs a “separation from service” as defined below. Notwithstanding the immediately
preceding sentence, in the case of a distribution of shares on account of any employment
termination as provided for in Section 5 other than death, a distribution on behalf of the Grantee,
if the Grantee is a “specified employee” as defined in §1.409A-1(i) of the Final Regulations under
Code Section 409A, shall not occur until the date which is six (6) months following the date of the
Grantee’s “separation from service” as defined in Code Section 409A and the regulations issued
thereunder (or, if earlier, the date of death of the Grantee). From and after the date of receipt
of such shares, the



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Grantee or the Grantee’s legal representatives, beneficiaries or heirs, as the
case may be, shall have full rights of transfer or resale with respect to such stock subject to
applicable state and federal regulations.




	9.	 	Withholding Requirement.





     Upon the removal or lapse of the restrictions on the Units, the amount of shares of Common
Stock to be distributed by the Company to the Grantee, which are equal to the number of Units
finally determined to be earned by the Grantee as set forth in Sections 3 and Section 6 above,
shall be subject to applicable withholding requirements for income and employment taxes arising
from the removal or lapse of the restrictions on the Units.




	10.	 	Modification.





     This Agreement may be changed or modified without the Grantee’s consent or signature, if the
Company determines, in its sole discretion, that such change or modification is necessary for
purposes of compliance with or exemption from the requirements of Section 409A of the Code and any
regulations or other guidance issued thereunder, or otherwise to comply with any law.



     IN WITNESS WHEREOF, the Company and the Grantee have executed this Agreement as of the date
first written above.



	 	 	 	 	 	 	 	 	 
	GRANTEE:	 	 	 	 	 	ATMOS ENERGY CORPORATION
	 
	 	 	 	 	 	 	 	 
	Signature:

	 	 	 	 	 	By:	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Robert W. Best
	Printed Name:

	 	 	 	 	 	 	 	Chairman, President and Chief
Executive Officer
	 

	 	 	 	 	 	 	 	 






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