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                                                                    EXHIBIT 10.1

                            CENTERPOINT ENERGY, INC.
                            LONG-TERM INCENTIVE PLAN

                    NONQUALIFIED STOCK OPTION AWARD AGREEMENT

            Pursuant to this Award Agreement, CENTERPOINT ENERGY, INC. (the
"Company") hereby grants to [NAME] (the "Optionee"), an employee of the Company,
on [GRANT DATE] (the "Grant Date"), a right (the "Option") to purchase from the
Company [NUMBER] shares of Common Stock of the Company at $[OPTION STRIKE PRICE]
per share (the "Exercise Price"), pursuant to the Long-Term Incentive Plan of
CenterPoint Energy, Inc. (the "Plan"), with such number of shares and such price
per share being subject to adjustment as provided in Section 14 of the Plan, and
further subject to the following terms and conditions:

            1. RELATIONSHIP TO THE PLAN; DEFINITIONS.

            This Option is subject to all of the terms, conditions and
provisions of the Plan and administrative interpretations thereunder, if any,
which have been adopted by the Committee thereunder and are in effect on the
date hereof. Except as defined herein, capitalized terms shall have the same
meanings ascribed to them under the Plan. To the extent that any provision of
this Award Agreement conflicts with the express terms of the Plan, it is hereby
acknowledged and agreed that the terms of the Plan shall control and, if
necessary, the applicable provisions of this Award Agreement shall be hereby
deemed amended so as to carry out the purpose and intent of the Plan. References
to the Optionee herein also include the heirs or other legal representatives of
the Optionee. For purposes of this Award Agreement:

            "DISABILITY" means a physical or mental impairment of sufficient
      severity such that the Optionee is both eligible for and in receipt of
      benefits under the long-term disability provisions of the Company's
      benefit plans.

            "EMPLOYMENT" means employment with the Company or any of its
      Subsidiaries.

            "OPTION PERIOD" means the period commencing upon the Optionee's
      receipt of this Award Agreement and ending on the date on which the Option
      expires pursuant to Section 3(a).

            "OPTION SHARES" means the shares of Common Stock covered by this
      Award Agreement.

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            "RETIREMENT"  means termination of Employment on or after attainment
      of age 55 and with at least five years of service with the Company.

            2. EXERCISE AND VESTING SCHEDULE.

            (a) This Option shall become exercisable in three cumulative annual
      installments, as follows:

                  (i) [NUMBER] of the Option Shares shall become exercisable on
            [DATE],

                  (ii) an additional [NUMBER] of the Option Shares shall become
            exercisable on [DATE], and

                  (iii) the remaining [NUMBER] Option Shares shall become
            exercisable on [DATE];

      provided, however, that the Optionee must be in continuous Employment
      through the date of exercisability of each installment in order for the
      Option to become exercisable with respect to additional shares of Common
      Stock on such date.

            (b) This Option shall become fully exercisable, irrespective of the
      limitations set forth in subparagraph (a) above, upon termination of
      Employment of the Optionee due to death, Disability, or Retirement,
      provided that prior to such termination the Optionee had been in
      continuous Employment.

            3. EXPIRATION OF OPTION.

            (a) Expiration of Option Period. The Option Period shall expire on
      [10TH ANNIVERSARY OF GRANT DATE].

            (b) Termination of Employment Due to Death or Disability. Upon
      termination of Employment of the Optionee due to death or Disability, the
      Option shall expire upon the earlier of one year following the date of
      termination of Employment or expiration of the Option Period.

            (c) Termination of Employment Due to Retirement. Upon termination of
      Employment of the Optionee because of Retirement, the Option shall expire
      upon the earlier of three years following the date of termination of
      Employment or expiration of the Option Period.

            (d) Termination of Employment by the Company or Due to Resignation.
      Upon termination of Employment of the Optionee by the Company or any of
      its Subsidiaries for any reason or due to voluntary

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      resignation by the Optionee, the portion of the Option not exercisable
      shall expire immediately, and the portion of the Option exercisable upon
      termination shall expire upon the earlier of 90 days following the date of
      termination of Employment or the expiration of the Option Period.

            (e) Death Following Termination of Employment. Notwithstanding
      anything herein to the contrary, in the event the Optionee dies following
      termination of Employment but prior to the expiration of the Option
      pursuant to this Section 3, the portion of the Option exercisable upon the
      Optionee's death shall expire one year following the date of the
      Optionee's death or, if earlier, upon the expiration of the Option Period.

            4. CASH PAYMENT UPON A CHANGE OF CONTROL. Notwithstanding anything
herein to the contrary, upon or immediately prior to the occurrence of a Change
of Control, the Option, unless previously expired pursuant to Section 3, shall
be settled by a cash payment to the Optionee equal to the difference between (i)
the Fair Market Value per share of Common Stock on the date immediately
preceding the date on which the Change of Control occurs and (ii) the Exercise
Price of the Option, multiplied by the total number of unexercised Option
Shares, regardless of whether such Option Shares have become exercisable under
Section 2. Such cash payment shall satisfy the rights of the Optionee and the
obligations of the Company under this Award Agreement in full.

            5. EXERCISE OF OPTION. Subject to the limitations set forth herein
and in the Plan, this Option may be exercised pursuant to the procedures set
forth by the Committee. Unless otherwise permitted by the Committee, upon
exercise the Optionee shall provide to the Company or its designated
representative, cash, check or money order payable to the Company equal to the
full amount of the purchase price for any shares of Common Stock being acquired
or, at the election of the Optionee, Common Stock held by such Optionee for at
least six months equal in value to the full amount of the purchase price (or any
combination of cash, check, money order or such Common Stock). For purposes of
determining the amount, if any, of the purchase price satisfied by payment in
Common Stock, such Common Stock shall be valued at its Fair Market Value on the
date of exercise. Any Common Stock delivered in satisfaction of all or a portion
of the purchase price shall be appropriately endorsed for transfer and
assignment to the Company. The Company shall have the right to withhold
applicable taxes from compensation otherwise payable to the Optionee at the time
of exercise pursuant to Section 11 of the Plan.

            6. NOTICES. For purposes of this Award Agreement, notices to the
Company shall be deemed to have been duly given upon receipt of written notice
by the corporate secretary of the Company at 1111 Louisiana, Houston, Texas
77002, or to such other address as the Company may furnish to the Optionee.
Notice of exercise of the Option must be made to the person and in the manner
set forth by the Committee.

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            Notices to the Optionee shall be deemed effectively delivered or
given upon personal, electronic, or postal delivery of written notice to the
Optionee, the place of Employment of the Optionee, the address on record for the
Optionee at the human resources department of the Company, or such other address
as the Optionee hereafter designates by written notice to the Company.

            7. SHAREHOLDER RIGHTS. The Optionee shall have no rights of a
shareholder with respect to shares of Common Stock subject to the Option unless
and until such time as the Option has been exercised and vested and ownership of
such shares of Common Stock has been transferred to the Optionee.

            8. SUCCESSORS AND ASSIGNS. This Award Agreement shall bind and inure
to the benefit of and be enforceable by the Optionee, the Company and their
respective permitted successors and assigns except as expressly prohibited
herein and in the Plan. Notwithstanding anything herein or in the Plan to the
contrary, all or a portion of the Option is transferable by Optionee to
Immediate Family Members, Immediate Family Member Trusts, and Immediate Family
Member Partnerships pursuant to Section 13 of the Plan.

            9. NO EMPLOYMENT GUARANTEED. Nothing in this Award Agreement shall
give the Optionee any rights to (or impose any obligations for) continued
Employment by the Company or any Subsidiary thereof or successor thereto, nor
shall it give such entities any rights (or impose any obligations) with respect
to continued performance of duties by the Optionee.

            10. MODIFICATION OF AGREEMENT. Any modification of this Award
Agreement shall be binding only if evidenced in writing and signed by an
authorized representative of the Company.

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                                                                    EXHIBIT 10.2

                            CENTERPOINT ENERGY, INC.
                            LONG-TERM INCENTIVE PLAN

                        RESTRICTED STOCK AWARD AGREEMENT

            Pursuant to this Award Agreement, CENTERPOINT ENERGY, INC. (the
"Company") hereby grants to [NAME] (the "Participant"), an employee of the
Company, on [GRANT DATE] (the "Grant Date"), [NUMBER] restricted shares of
Common Stock of the Company (the "Restricted Stock"), pursuant to the LONG-TERM
INCENTIVE PLAN OF CENTERPOINT ENERGY, INC. (the "Plan"), with such number of
shares being subject to adjustment as provided in Section 14 of the Plan, and
further subject to the terms, conditions and restrictions described in the Plan
and as follows:

            1. RELATIONSHIP TO THE PLAN; DEFINITIONS.

            This grant of Restricted Stock is subject to all of the terms,
conditions and provisions of the Plan and administrative interpretations
thereunder, if any, which have been adopted by the Committee and are in effect
on the date hereof. Except as defined herein, capitalized terms shall have the
same meanings ascribed to them under the Plan. To the extent that any provision
of this Award Agreement conflicts with the express terms of the Plan, it is
hereby acknowledged and agreed that the terms of the Plan shall control and, if
necessary, the applicable provisions of this Award Agreement shall be hereby
deemed amended so as to carry out the purpose and intent of the Plan. References
to the Participant herein also include the heirs or other legal representatives
of the Participant. For purposes of this Award Agreement:

            "DISABILITY" means a physical or mental impairment of sufficient
severity such that the Participant is both eligible for and in receipt of
benefits under the long-term disability provisions of the Company's benefit
plans.

            "EMPLOYMENT" means employment with the Company or any of its
Subsidiaries.

            "RETIREMENT" means termination of Employment on or after attainment
of age 55 and with at least five years of service with the Company.

            2. ESTABLISHMENT OF RESTRICTED STOCK ACCOUNT. The grant of shares of
Restricted Stock pursuant to this Award Agreement shall be implemented by a
credit to a bookkeeping account maintained by the Company evidencing the accrual
in favor of the Participant of the unfunded and unsecured right to receive
shares of Common Stock of the Company, which right shall be subject to the
terms, conditions and restrictions set forth in the Plan and to the further
terms, conditions and restrictions set forth in this Award Agreement. Except as
otherwise provided in Section 10 of this Award Agreement, the shares of
Restricted Stock credited to the Participant's bookkeeping account may not be
sold, assigned, transferred, pledged or otherwise encumbered until the
Participant has been registered as the holder of shares of Common Stock
representing such shares of Restricted Stock on the records of the Company as
provided in Section 6 of this Award Agreement.

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            3. VESTING OF RESTRICTED STOCK. Unless earlier forfeited or vested
in accordance with Section 4 below or receipt of a cash payment pursuant to
Section 5 below, the Participant's right to receive 100% of the shares of
Restricted Stock shall vest on [DATE].

            The Participant must be in continuous Employment through the vesting
date in order for the Restricted Stock to vest on such date; otherwise, all such
shares shall be forfeited as of the Participant's termination date.

            4. ACCELERATED VESTING AND FORFEITURE. If, prior to the vesting of
the shares of Restricted Stock pursuant to Section 3 above and prior to the
Participant's receipt of any cash payment pursuant to Section 5 below, the
Participant's Employment is terminated due to (a) death, (b) Disability, or (c)
Retirement, then the Participant shall vest in the right to receive a number of
the shares of Restricted Stock determined by multiplying (i) the total number of
shares of Restricted Stock granted under this Award Agreement by a (ii)
fraction, the numerator of which is the number of days that have elapsed from
the Grant Date, and the denominator of which is the total number of days in the
vesting period (which commences on the Grant Date and ends on the date the
shares would have fully vested under Section 3). Such vested shares of
Restricted Stock shall be delivered to the Participant as soon as practicable
following the Participant's termination date. All remaining unvested shares of
Restricted Stock as of the Participant's termination date shall be forfeited as
of such date.

            5. CASH PAYMENT UPON A CHANGE OF CONTROL. Notwithstanding anything
herein to the contrary, upon or immediately prior to the occurrence of any
Change of Control of the Company, the Participant's right to receive the shares
of Restricted Stock shall be settled by a cash payment to the Participant equal
to the product of (i) the Fair Market Value per share of Common Stock on the
date immediately preceding the date on which the Change of Control occurs and
(ii) the number of shares of Restricted Stock not previously vested or forfeited
pursuant to Section 3 or Section 4 above. Such cash payment shall satisfy the
rights of the Participant and the obligations of the Company under this Award
Agreement in full.

            6. PAYMENT OF AWARD. Upon the vesting of the Participant's right to
receive the shares of Restricted Stock pursuant to Section 3 or Section 4 of
this Award Agreement, a number of shares of Common Stock equal to the number of
vested shares of Restricted Stock shall be registered in the name of the
Participant and certificates representing such Common Stock shall be delivered
to the Participant as soon as practicable after the date upon which the
Participant's right to such shares vested according to the provisions of Section
3 or Section 4 above. The Company shall have the right to withhold applicable
taxes from any such payment of the Restricted Stock (including, but not limited
to, from any amounts payable as provided in the following paragraph in respect
of dividends) or from other compensation payable to the Participant at the time
of such vesting and delivery pursuant to Section 11 of the Plan.

            If the Restricted Stock became vested pursuant to Section 3 above,
upon delivery of shares of Common Stock representing Restricted Stock pursuant
to the foregoing paragraph of this Section 6, the Participant shall also be
entitled to receive a cash payment equal to the sum of all dividends, if any,
announced or paid on such shares of Restricted Stock after the Grant Date but
prior to the date such shares of Common Stock are delivered to the Participant.
If the Participant becomes vested in all or a portion of the shares of
Restricted Stock under Section 4

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above or the Participant becomes entitled to a cash payment under Section 5
above prior to becoming vested under Section 3 above, upon delivery of shares of
Common Stock representing Restricted Stock pursuant to the foregoing paragraph
of this Section 6 or payment of a cash payment under Section 5 above, as
applicable, the Participant shall also be entitled to receive a cash payment
equal to the sum of all dividends, if any, announced or paid on such shares of
Restricted Stock after the Grant Date but prior to the date such shares of
Common Stock are delivered to the Participant.

            7. CONFIDENTIALITY. The Participant agrees that the terms of this
Award Agreement are confidential and that any disclosure to anyone for any
purpose whatsoever (save and except disclosure to financial institutions as part
of a financial statement, financial, tax and legal advisors, or as required by
law) by the Participant or his or her agents, representatives, heirs, children,
spouse, employees or spokespersons shall be a breach of this Award Agreement and
the Company may elect to revoke the grant made hereunder, seek damages, plus
interest and reasonable attorneys' fees, and take any other lawful actions to
enforce this Award Agreement.

            8. NOTICES. For purposes of this Award Agreement, notices to the
Company shall be deemed to have been duly given upon receipt of written notice
by the Corporate Secretary of CenterPoint Energy, Inc., 1111 Louisiana, Houston,
Texas 77002, or to such other address as the Company may furnish to the
Participant.

            Notices to the Participant shall be deemed effectively delivered or
given upon personal, electronic, or postal delivery of written notice to the
Participant, the place of Employment of the Participant, the address on record
for the Participant at the human resources department of the Company, or such
other address as the Participant hereafter designates by written notice to the
Company.

            9. SHAREHOLDER RIGHTS. The Participant shall have no rights of a
shareholder with respect to the Restricted Stock, unless and until the
Participant is registered as the holder of shares of Common Stock representing
such Restricted Stock on the records of the Company, as provided in Section 6 of
this Award Agreement.

            10. SUCCESSORS AND ASSIGNS. This Award Agreement shall bind and
inure to the benefit of and be enforceable by the Participant, the Company and
their respective permitted successors and assigns except as expressly prohibited
herein and in the Plan. Notwithstanding anything herein or in the Plan to the
contrary, the shares of Restricted Stock are transferable by the Participant to
Immediate Family Members, Immediate Family Member Trusts, and Immediate Family
Member Partnerships pursuant to Section 13 of the Plan.

            11. NO EMPLOYMENT GUARANTEED. Nothing in this Award Agreement shall
give the Participant any rights to (or impose any obligations for) continued
Employment by the Company or any Subsidiary, or any successor thereto, nor shall
it give such entities any rights (or impose any obligations) with respect to
continued performance of duties by the Participant.

            12. MODIFICATION OF AGREEMENT. Any modification of this Award
Agreement shall be binding only if evidenced in writing and signed by an
authorized representative of the Company.

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