Document:

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EXHIBIT 10.13

Atmos Energy Corporation

Outside Directors Stock-for-Fee Plan

Amended and Restated as of October 1, 2009

 

 

	I.	 	Plan Purpose
	 
	 	 	Section 1.1. Atmos Energy Corporation (“Atmos” or the “Company”) hereby amends
and restates the previously-established Atmos Energy Corporation Outside Directors
Stock-for-Fee Plan (the “Plan”), which provides the non-employee directors of Atmos the
option to receive all or part of their Fee (as defined below) in Atmos common stock. The
purpose of this Plan is to increase the proprietary interest of the Outside Directors in
the Company’s long-term prospects and the strategic growth of its business.
	 
	II.	 	Definitions
	 
	 	 	Section 2.1. “Board” or “Board of Directors” shall mean the Board of Directors
of Atmos Energy Corporation.
	 
	 	 	Section 2.2. “Common Stock” means the Company’s no par value common stock.
	 
	 	 	Section 2.3. “Election” means an Outside Director’s delivery of written
notice of election to the Corporate Secretary of the Company electing to receive his or
her Fee or a portion thereof in the form of Common Stock.
	 
	 	 	Section 2.4. “Fair Market Value” means, as of any specified date, the mean of
the highest and lowest prices of a share of Common Stock of the Company as reported by
the New York Stock Exchange Consolidated Tape on that date. However, if no trading in
the Common Stock occurs on the New York Stock Exchange on that date, the “Fair Market
Value” shall mean the mean of the highest and lowest prices as reported on the most
recent previous day for which sales were reported. In the event the Common Stock is
traded on an exchange other than the New York Stock Exchange, the Board of Directors
shall select a suitable substitute published stock quotation system, which system shall
be in compliance with all relevant regulatory provisions.
	 
	 	 	Section 2.5. “Fee” means the annual retainer fee (paid in quarterly
installments) earned by an Outside Director for his or her service as a member of the
Atmos Board of Directors during a Fiscal Year or portion thereof.
	 
	 	 	Section 2.6. “Fiscal Year” means the 12-month period beginning October
1st of any year and ending September 30th of the next year.
	 
	 	 	Section 2.7. “Outside Director” means a member of the Company’s Board of
Directors who is not an employee of the Company.
	 
	 	 	Section 2.8. “Quarter” means the 3-month period beginning October 1, January 1,
April 1, or July 1 of each Fiscal Year.
	 
	III.	 	Shares Authorized for Issuance

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	 	 	Section 3.1. A maximum of 50,000 shares of Common Stock may be issued under the
Plan. The Common Stock issued under the Plan may, at the option of the Board of
Directors, be either original issue by the Company or purchased on the open market. In
the event of any change in the number of shares outstanding of Common Stock by reason of
a stock split, stock dividend, merger, consolidation, reorganization, or other similar
change in capitalization, the number or kind of shares that may be issued under the Plan
shall be automatically adjusted so that the proportionate interest of the shares issuable
under the Plan is maintained as before the occurrence of such event.

	IV.	 	Administration
	 
	 	 	Section 4.1. Each Outside Director may elect to receive all or a portion (in 10%
increments) of his or her Fee in shares of Common Stock by executing and delivering an
Election to the Corporate Secretary of the Company at least two weeks prior to the
beginning of the immediately succeeding Fiscal Year in order to be effective for the Fee
earned in such succeeding Fiscal Year. Each Outside Director must execute the election
form previously approved by the Secretary in order for such Election to be effective.
The election form is deemed delivered when received by the Corporate Secretary.
	 
	 	 	Section 4.2. An Outside Director making an Election may designate a beneficiary
or beneficiaries who will receive any shares of Common Stock owed to such Outside
Director hereunder in the event of the Outside Director’s death.
	 
	 	 	Section 4.3. Each Outside Director may elect to revoke or modify his or her
Election that is then currently in effect by executing and delivering a written
revocation/modification form, which must be delivered to the Corporate Secretary of the
Company at least two weeks prior to the beginning of the immediately succeeding Fiscal
Year in order to be effective for the Fee earned in such succeeding Fiscal Year. Each
Outside Director must execute the revocation/modification form previously approved by the
Corporate Secretary in order for such revocation/modification to be effective. This form
is deemed delivered when received by the Corporate Secretary. Each Outside Director may
make changes in the designation of a beneficiary at any time.
	 
	 	 	Section 4.4. For the Quarter commencing October 1, 2009, an Election shall
result in the deferral of the Common Stock portion of the payment of the Fee earned in
such Quarter for which the Election is effective until the end of such Quarter. Shares
of Common Stock shall be issued to the Outside Director for such Quarter as soon as
possible following the last business day of such Quarter. For the Quarter commencing
January 1, 2010 and each Quarter thereafter, an Election shall result in the payment of
the Common Stock portion of the payment of the Fee earned in each Quarter for which the
Election is effective as soon as possible following the first business day of such
Quarter. The number of shares of Common Stock issued in accordance with an Election
shall be equal to the amount of the Fee that would have been paid to the Outside Director
during a Quarter divided by the Fair Market Value (i) for the Quarter
commencing October 1, 2009, on the last business day of such Quarter, and (ii) for the
Quarter commencing January 1, 2010 and each Quarter thereafter, on the first business day
of such Quarter. Only whole numbers of shares of Common Stock shall be issued;
fractional shares shall be paid in cash. If the Election is for only a portion of the
Fee, 

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	 	 	the remaining portion of the Fee to be paid in cash shall be paid at the time the
cash payment would normally be paid by the Company to the Outside Director.

	 	 	Section 4.5. The Board of Directors shall be responsible for the administration
of the Plan. The Board of Directors, by majority action of its members, is authorized to
interpret the Plan, prescribe, amend, and rescind rules and regulations relating to the
Plan, provide for conditions and assurances deemed necessary or advisable to protect the
interests of the Company, and make all other determinations necessary or advisable for
the administration of the Plan, but only to the extent not contrary to the express
provisions of the Plan. No member of the Board of Directors shall be liable for any
action or determination made in good faith. The determinations, interpretations, and
other actions of the Board of Directors pursuant to the provisions of the Plan shall be
binding and conclusive for all purposes and on all persons.

	V.	 	Effective Date
	 
	 	 	Section 5.1. The Plan, as originally drafted, was approved and adopted by a vote
of the shareholders of the Company on February 8, 1995 and became effective immediately
upon such approval. This amended and restated Plan was approved by the Board of
Directors and became effective as of October 1, 2009.
	 
	VI.	 	Amendment and Termination
	 
	 	 	Section 6.1. The Board of Directors of the Company may at any time terminate,
and from time to time may amend or modify the Plan, provided, however, that no amendment
or modification may become effective without approval by the shareholders of the Company
if shareholder approval is required to enable the Plan to satisfy any applicable
statutory or regulatory requirements or if the Board of Directors, on advice of counsel,
determines that shareholder approval is otherwise necessary or advisable.

     IN WITNESS WHEREOF, the Company has caused this instrument to be executed this 13th
day of January, 2010, by its Chairman of the Board and Chief Executive Officer pursuant to prior
action taken by the Board.

	 	 	 	 	 
	 	ATMOS ENERGY CORPORATION

 	 
	 	By:  	/s/ ROBERT W. BEST
 	 
	 	 	Robert W. Best 	 
	 	 	Chairman of the Board
and Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	Attest:

 	 
	 	/s/ DWALA KUHN
 	 
	 	Corporate Secretary 	 
	 	 	 
	 

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EXHIBIT 10.14(e)

AWARD AGREEMENT OF TIME-LAPSE

RESTRICTED STOCK UNITS

UNDER THE ATMOS ENERGY CORPORATION

1998 LONG-TERM INCENTIVE PLAN

     This Award Agreement of Time-Lapse Restricted Stock Units is dated as of                     ,
20___, 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 agreement shall have the
meaning set forth in the Plan.

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

1. Description of Units.

     The Company hereby grants to the Grantee a total of [number] time-lapse 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. No physical certificates representing the number of Units awarded shall be issued
to the Grantee, but an account shall be established and maintained for the Grantee, in which each
grant of Units to the Grantee shall be recorded. During the time of the restriction period provided
for in Section 2 below, the Grantee shall not have any of the rights of a shareholder of the
Company with respect to the Units, except with respect to the payment of cash dividend equivalents
during such period, as provided for in Section 6 below.

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. Vesting of Units.

     If the Grantee has attained the age of 55 and completed three (3) consecutive years of service
with the Company (referred to as “Retirement Eligible”) on the date of the grant of the Units, he
or she shall be vested in the Units on the later of June 1 of the year in which the grant is made
or the date of the grant. If the Grantee becomes Retirement Eligible after the date of grant and
prior to the date for distribution of shares of Common Stock represented by the Units, the Grantee
shall be vested in the Units at the later of June 1 of the year in which he or she becomes
Retirement Eligible or the actual date during such year that he or she becomes Retirement Eligible.
However, the Grantee shall not be entitled to the removal of the restrictions on such Units
provided for in Section 2 above or to a distribution of shares of Common Stock represented by the
number of Units until the time provided for in Section 8 below. In addition, the Grantee’s portion of applicable payroll (FICA) taxes shall be withheld
from the first scheduled bi-weekly paycheck in December of the year in which such vesting occurs.
The amount of payroll taxes due shall be based on the fair market value of the shares

 

 

of Common Stock represented by the number of Units as of the last business day of the pay period to which the
first scheduled payroll check in December applies.

4. Forfeiture of Units.

     If the Grantee is not otherwise vested as provided in Section 3 above, all Units granted shall
be forfeited if the Grantee has a voluntary or involuntary Termination of Service 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.

	 	(a)	 	Death, Disability, Certain Involuntary Terminations and Terminations following
a Change in Control.

     At the time and on the date of the Grantee’s death, Termination of Service due to Total and
Permanent Disability, involuntary Termination of Service due to a general reduction in force or
specific elimination of the Grantee’s job, or Termination of Service for any reason following a
Change in Control, while employed by the Company or a Subsidiary, all Units shall be vested and all
other restrictions placed on the Units shall be removed. The Grantee, or his or her legal
representatives, beneficiaries or heirs shall then be entitled to a distribution, as provided in
Section 8 below, of shares of Common Stock equal in number to the number of Units set forth in
Section 1 above.

	 	(b)	 	Retirement.

     At the time and on the date of the Grantee’s Retirement on or after becoming Retirement
Eligible, no distribution on Units shall occur and the restrictions provided for in Section 2 above
shall remain in place until such time as the Grantee, or his or her legal representatives,
beneficiaries or heirs shall be entitled to a distribution, as provided in Section 8 below, of
shares of Common Stock equal in number to the number of Units set forth in Section 1 above.

6. Payment of Cash Dividend Equivalents.

      Cash dividend equivalents shall be paid on the Units to the Grantee through the
Company payroll system in an amount equal to the cash dividends actually paid each calendar quarter
on the Company’s issued and outstanding shares of Common Stock. Such cash dividend equivalents
shall be paid at the end of the payroll period in which such cash dividends are actually paid to
the Company’s shareholders. However, the payment of cash dividend equivalents shall not be
considered to be “eligible compensation,” as such term is defined under either the Company’s
Retirement Savings Plan or Pension Account Plan.

7. Adjustment Upon Changes in Stock.

     If there shall be any change in the number of shares of Common Stock outstanding

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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 shall issue additional Units or substitute Units to the Grantee for his or her account,
which shall have the same restrictions, terms and conditions as the original Units.

8. Distribution of Common Stock or Cash.

     As soon as administratively possible, as determined solely by the Company, following the
earlier of the date of the occurrence of a termination event described in Section 5(a) above or the
date which is three (3) years from the date of grant of the Units (such date being referred to as
the “Distribution Date”), but in no event later than 90 days following the Distribution Date, the
Grantee shall receive a distribution of shares of Common Stock equal in number to the number of
Units set forth in Section 1 above, provided the Grantee has been an employee of the Company or a
Subsidiary with continuous service from the date of grant to the Distribution Date, except in the
event of the Grantee’s Termination of Service or Retirement as discussed above in Section 5.
Notwithstanding the immediately preceding sentence, in the case of a distribution of shares on
account of any Termination of Service as provided for above 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 Termination of Service (or, if earlier, the
date of death of the Grantee). From and after the date of receipt of such shares, the 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. Notwithstanding any provisions of this Award Agreement to the contrary, in lieu of a
distribution of shares of Common Stock, the Company shall have the option to settle the payment of
some or all of the Units in an economically equivalent amount of cash.

9. Withholding Requirements.

     Upon the removal or lapse of the restrictions on the Units, the number of shares of Common
Stock to be distributed by the Company to the Grantee, which are equal to the number of Units set
forth in Section 1 above, or an economically equivalent amount of cash, as discussed in Section 8
above, shall be subject to applicable withholding requirements for income and employment taxes
(unless withheld earlier at the time of vesting, as described in Section 3 above) 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

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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:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

Kim R. Cocklin
	 	 
	Printed Name:

	 	 	 	 	 	 	 	President and Chief Executive Officer	 	 
	 

	 	 

	 	 	 	 	 	 	 	 

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