Document:

Exhibit 10.1

2007 LONG TERM INCENTIVE
AWARD PROGRAM FOR OFFICERS

RELIANT
ENERGY, INC. 2002 LONG-TERM INCENTIVE PLAN

1.             2007 Program.  This 2007 Long Term
Incentive Award Program for Officers (“Program”) has been adopted by the
Compensation Committee (“Committee”) of the Board of Directors of Reliant
Energy, Inc. (the “Company”) pursuant to and subject to the terms and
conditions of the Reliant Energy, Inc. 2002 Long Term Incentive Plan (“Plan”).  Awards under this Program will be made under
the 2007 Long Term Incentive Award Agreement (“Agreement”) attached hereto as
Exhibit A.

2.             Objectives.  The Program is intended to
provide incentives to a group of employees who can make a significant
contribution to the Company’s strategic objectives.

3.             Relationship to the Plan.  This Program is subject to
all of the terms, conditions and provisions of the Plan and administrative
interpretations thereunder, if any.  To
the extent any provision herein conflicts with the express terms of the Plan,
the terms of the Plan will control.

4.             Definitions.  Except as defined in the
Agreement, capitalized terms have the same meanings ascribed to them under the
Plan.

5.             Eligibility
and Participation.  The
Committee or its delegate will designate the Employees who will participate in
this Program and will determine individual awards which will be memorialized in
an Agreement with each Participant.

6.             Awards.  Awards will consist of Restricted Stock
Units, Cash Units and Nonqualified Stock Options.

7.             Vesting.  Unless earlier forfeited or
satisfied in accordance with Section 8 of the Agreement, Awards will vest as
provided in the Agreement.  In the event
a Participant is no longer an employee of the Company for any reason on the
vesting date, all unvested Awards will be forfeited.

8.             Change
in Control.  In the
event of a Change in Control, all Awards will vest immediately and will be
settled by a cash payment as provided in the Agreement.

 1
 

9.             Effective
Date.  This Program is
effective as of and the Grant Date is February 20, 2007.

	
  

  	
   

  	
   

  	
  RELIANT ENERGY, INC.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Karen D. Taylor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Karen D. Taylor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Senior Vice President

  	
   

  

 

 2

Exhibit A

RELIANT ENERGY, INC.

2002 LONG TERM INCENTIVE PLAN

2007 LONG TERM INCENTIVE AWARD FOR OFFICERS

AWARD
AGREEMENT

Pursuant to this award agreement (“Agreement”), as of February 20, 2007, Reliant Energy, Inc.  (the “Company”) hereby grants to «LEGAL» (the “Participant”), «stock_units» Restricted Stock Units, «cash_units» Cash Units and rights (the “Nonqualified
Stock Options” or “Options”) to purchase from the Company «options» shares of Common Stock of the
Company at $16.26 per share.  The number
of units and shares is subject to adjustment as provided in Section 15 of the
Reliant Energy 2002 Long-Term Incentive Plan (the “Plan”), subject to the
terms, conditions and restrictions described in the Plan and in this Agreement.

1.                                       Relationship to the Plan; Definitions.

(a)                                  This grant of Restricted Stock Units, Cash
Units and Options 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 this date.  If any provision of this Agreement conflicts
with the express terms of the Plan, the terms of the Plan control and, if
necessary, the applicable provisions of this Agreement are deemed amended so as
to carry out the purpose and intent of the Plan. References to the Participant
also include the heirs or other legal representatives of the Participant or the
Participant’s estate.

(b)                                 Except
as defined herein, capitalized terms have the same meanings as under the Plan.

Cash Unit means a Cash Award with each unit equal to
the Fair Market Value of one share of Common Stock on the vesting date as
determined pursuant to Section 3.

Disability means a physical or
mental impairment of sufficient severity such that the Participant is receiving
benefits under the Company’s long-term disability plan.

Employment means employment with
the Company or any of its subsidiaries.

Options mean Nonqualified Stock
Options.

Option Period means the period
beginning on the date of this Agreement and ending on the date the Options
expire pursuant to Section 4.

 3
 

Option Shares means shares of
Common Stock which the Participant may have the right to purchase under this
Agreement.

Performance Goal means the
standard established by the Committee for the performance period from February
20, 2007 through February 20, 2010 to determine whether the Participant’s Cash
Units will vest.  The Performance Goal is
attached as Exhibit I.

Restricted Stock Unit means a
Stock Award with restrictions and subject to a vesting condition as described
in this Agreement.

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

2.                                       Account.  The Awards granted pursuant to this
Agreement will 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 the Restricted Stock Units, the Cash
Units and the Options granted.  Except as
provided in Section 10, the Awards credited to the 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 the Restricted Stock Units or exercised Options.

3.                                       Vesting.  Unless
earlier forfeited as described below, the Awards will vest as follows:

(i)            The Restricted Stock Units will vest
on February 20, 2010.  If the Participant’s
Employment is terminated for any reason on or prior to February 20, 2010, the
Participant’s right to receive the Restricted Stock Units will be forfeited.

(ii)           The Cash Units will vest, if at all,
upon the Committee’s determination that the Performance Goal has been met. If
the Performance Goal has not been met by February 20, 2010, the Cash Units will
be forfeited.  If the Participant’s
Employment is terminated for any reason before the earlier of the date the
Committee determines that the Performance Goal has been met or February 20,
2010, the Participant’s right to receive the Cash Units will be forfeited.

(iii)          The Options will vest and become
exercisable in three cumulative annual installments as follows:

«one»
Option Shares exercisable on February 20, 2008;

an
additional «two» Option
Shares exercisable on February 20, 2009;

and the remaining «three» Option  Shares
exercisable on February 20, 2010.

 4
 

The Participant must be employed by the Company
through the date of exercisability of each installment for the Options to
become exercisable with respect to additional shares of Common Stock on such
date.

4.                                       Expiration of Option Period. 
The Option Period will expire on February 19, 2017 except as follows:

(i) Upon termination of
Employment of the Participant due to death or Disability, the vested Options,
if any, will expire upon the earlier of one year following the date of
termination of Employment or expiration of the Option Period.

(ii) Upon
termination of Employment of the Participant because of Retirement, the vested
Options, if any, will expire upon the earlier of three years following the date
of termination of Employment or expiration of the Option Period.

(iii) Upon
termination of Employment of the Participant by the Company or any of its
Subsidiaries for any reason or due to voluntary resignation by the Participant,
the unvested portion of the Options will expire immediately, and the vested
Options, if any, will expire upon the earlier of one year following the date of
termination of Employment or the expiration of the Option Period.

(iv)
Notwithstanding anything herein to the contrary, in the event the Participant
dies following termination of Employment but prior to the expiration of the
Option pursuant to this Section 4, the portion of the Option exercisable upon
the Participant’s death will expire one year following the date of the
Participant’s death or, if earlier, upon the expiration of the Option Period.

5.                                       Payment of Restricted Stock Units.  Upon the vesting of Participant’s right to
receive Restricted Stock Units, a number of shares of Common Stock equal to the
number of vested Restricted Stock Units will be registered in the Participant’s
name as soon as practicable after the vesting date.  The
Company will have the right to withhold applicable taxes from any such payment
or from other compensation payable to the Participant at the time of such
vesting and delivery pursuant to Section 12 of the Plan.

6.                                       Payment of Cash Units.  Upon
the vesting, if at all, of Participant’s right to receive Cash Units, the Cash
Units will be settled by a cash payment to the Participant as soon as
practicable after the vesting.  The Company will have the right to withhold
applicable taxes from any such payment or from other compensation payable to
the Participant at the time of such vesting and delivery pursuant to Section 12
of the Plan.

7.                                       Exercise of Options.  Subject
to the limitations set forth herein and in the Plan, the Options may be
exercised pursuant to the procedures established by the Committee.  Unless otherwise permitted by the Committee,
upon exercise the Participant must provide to the Company or its designated
representative, cash, 

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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 Participant, Common Stock held by the
Participant 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, the
Common Stock will 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 must be appropriately endorsed for transfer and assignment to the Company.  The Company will have the right to withhold
applicable taxes from compensation otherwise payable to the Participant at the
time of exercise pursuant to Section 12 of the Plan.

8.                                       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 prior to vesting date, (i) Participant’s right to receive
Restricted Stock Units and Cash Units will vest and will be settled by a cash
payment to Participant equal to the product of (A) the Fair Market Value per
share of Common Stock on the date immediately preceding the date on which the
Change of Control occurs and (B) the total number of Restricted Stock Units and
Cash Units granted and (ii) Participant’s right to receive the Options (unless
previously expired pursuant to Section 4) shall be settled by a cash payment to
the Participant equal to the product of (A) the difference between (1) the Fair
Market Value per share of Common Stock on the date immediately preceding the
date on which the Change in Control occurs and (2) the exercise price of the
Options and (B) the total number of unexercised Option shares, regardless of
whether such Option shares have become exercisable under Section 3.  Such cash payment will satisfy the rights of
Participant and the obligations of the Company under this Agreement in full.

9.                                       Notices.  For purposes
of this Agreement, notices and all other communications must be in writing and
will be deemed to have been given when personally delivered or when mailed by
United States registered or certified mail, return receipt requested, postage
prepaid, addressed to the Company at 1000 Main St., Houston, TX 77002, and to
the Participant at the address on record for the Participant in the Company’s
human resources department or to such other address as either party may furnish
to the other in writing in accordance with this Section 9.

10.                                 Successors and Assigns. 
This Agreement is binding upon and inures to the benefit of  the Participant, the Company and their respective permitted
successors and assigns.  Notwithstanding
anything herein to the contrary, the Restricted Stock Units, Cash Units and/or
Options are transferable by the Participant to Immediate Family Members,
Immediate Family Members Trusts and Immediate Family Member Partnerships
pursuant to Section 14 of the Plan.

11.                                 No Employment Guaranteed. 
Nothing in this Agreement gives the Participant any rights to (or
imposes any obligations for) continued Employment by the 

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Company or any
Subsidiary thereof or successor thereto, nor does it give those entities any
rights (or impose any obligations) with respect to continued performance of
duties by the Participant.

12.                                 Shareholder Rights. 
The Participant shall have no rights of a shareholder with respect to
the Restricted Stock Units or the Options unless and until the Participant is
registered as the holder of shares of Common Stock representing the Restricted
Stock Units and/or the Options on the records of the Company.

13.                                 Section 409A of the Code. 
It is intended that this Agreement and any Awards under this Agreement
satisfy the requirements of Section 409A of the Code to avoid imposition of
applicable taxes thereunder.  Thus,
notwithstanding anything in this Agreement to the contrary, if any provision of
this Agreement or Award under this Agreement would result in the imposition of
an applicable tax under Section 409A of the Code and related regulations and
Treasury pronouncements, that Agreement provision or Award will be reformed to
avoid imposition of the applicable tax and no action taken to comply with
Section 409A shall be deemed to adversely affect the Participant’s rights to an
Award.

	
  

  	
   

  	
   

  	
  RELIANT ENERGY, INC.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Karen D. Taylor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Karen D. Taylor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Senior Vice President

  	
   

  

 

 7
 

Exhibit I

Performance
Goal

A closing price
for shares of the Company’s common stock on the New York Stock Exchange of $23
for 20 consecutive trading days any time between February 20, 2007 and February
20, 2010.  If the Company’s shares do not
reach and maintain a closing price of $23 for 20 consecutive trading days
between February 20, 2007 and February 20, 2010, the Cash Units will be
forfeited.

 

 8Exhibit 10.2

RELIANT
ENERGY, INC.

2002 LONG TERM INCENTIVE PLAN

2007
LONG TERM INCENTIVE AWARD FOR OFFICERS

AWARD
AGREEMENT

Pursuant to this award agreement (“Agreement”), as of February 20, 2007, Reliant Energy, Inc.  (the “Company”) hereby grants to «LEGAL» (the “Participant”), «stock_units» Restricted Stock Units, «cash_units» Cash Units and rights (the “Nonqualified
Stock Options” or “Options”) to purchase from the Company «options» shares of Common Stock of the
Company at $16.26 per share.  The number
of units and shares is subject to adjustment as provided in Section 15 of the
Reliant Energy 2002 Long-Term Incentive Plan (the “Plan”), subject to the
terms, conditions and restrictions described in the Plan and in this Agreement.

1.                                       Relationship to the Plan; Definitions.

(a)                                  This grant of Restricted Stock Units, Cash
Units and Options 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 this date.  If any provision of this Agreement conflicts
with the express terms of the Plan, the terms of the Plan control and, if
necessary, the applicable provisions of this Agreement are deemed amended so as
to carry out the purpose and intent of the Plan. References to the Participant
also include the heirs or other legal representatives of the Participant or the
Participant’s estate.

(b)                                 Except
as defined herein, capitalized terms have the same meanings as under the Plan.

Cash Unit means a Cash Award with each unit equal to
the Fair Market Value of one share of Common Stock on the vesting date as
determined pursuant to Section 3.

Disability means a physical or
mental impairment of sufficient severity such that the Participant is receiving
benefits under the Company’s long-term disability plan.

Employment means employment with
the Company or any of its subsidiaries.

Options mean Nonqualified Stock
Options.

Option Period means the period
beginning on the date of this Agreement and ending on the date the Options
expire pursuant to Section 4.

 1
 

Option Shares means shares of
Common Stock which the Participant may have the right to purchase under this
Agreement.

Performance Goal means the
standard established by the Committee for the performance period from February
20, 2007 through February 20, 2010 to determine whether the Participant’s Cash
Units will vest.  The Performance Goal is
attached as Exhibit I.

Restricted Stock Unit means a
Stock Award with restrictions and subject to a vesting condition as described
in this Agreement.

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

2.                                       Account.  The Awards granted pursuant to this
Agreement will 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 the Restricted Stock Units, the Cash
Units and the Options granted.  Except as
provided in Section 10, the Awards credited to the 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 the Restricted Stock Units or exercised Options.

3.                                       Vesting.  Unless
earlier forfeited as described below, the Awards will vest as follows:

(i)            The Restricted Stock Units will vest
on February 20, 2010.  If the Participant’s
Employment is terminated for any reason on or prior to February 20, 2010, the Participant’s
right to receive the Restricted Stock Units will be forfeited.

(ii)           The Cash Units will vest, if at all,
upon the Committee’s determination that the Performance Goal has been met. If
the Performance Goal has not been met by February 20, 2010, the Cash Units will
be forfeited.  If the Participant’s
Employment is terminated for any reason before the earlier of the date the
Committee determines that the Performance Goal has been met or February 20,
2010, the Participant’s right to receive the Cash Units will be forfeited.

(iii)          The Options will vest and become
exercisable in three cumulative annual installments as follows:

«one»
Option Shares exercisable on February 20, 2008;

an
additional «two» Option
Shares exercisable on February 20, 2009;

and the remaining «three» Option  Shares
exercisable on February 20, 2010.

 2
 

The Participant must be employed by the Company
through the date of exercisability of each installment for the Options to
become exercisable with respect to additional shares of Common Stock on such
date.

4.                                       Expiration of Option Period. 
The Option Period will expire on February 19, 2017 except as follows:

(i) Upon termination of
Employment of the Participant due to death or Disability, the vested Options,
if any, will expire upon the earlier of one year following the date of
termination of Employment or expiration of the Option Period.

(ii) Upon
termination of Employment of the Participant because of Retirement, the vested
Options, if any, will expire upon the earlier of three years following the date
of termination of Employment or expiration of the Option Period.

(iii) Upon
termination of Employment of the Participant by the Company or any of its
Subsidiaries for any reason or due to voluntary resignation by the Participant,
the unvested portion of the Options will expire immediately, and the vested
Options, if any, will expire upon the earlier of one year following the date of
termination of Employment or the expiration of the Option Period.

(iv)
Notwithstanding anything herein to the contrary, in the event the Participant
dies following termination of Employment but prior to the expiration of the
Option pursuant to this Section 4, the portion of the Option exercisable upon
the Participant’s death will expire one year following the date of the
Participant’s death or, if earlier, upon the expiration of the Option Period.

5.                                       Payment of Restricted Stock Units.  Upon the vesting of Participant’s right to
receive Restricted Stock Units, a number of shares of Common Stock equal to the
number of vested Restricted Stock Units will be registered in the Participant’s
name as soon as practicable after the vesting date.  The
Company will have the right to withhold applicable taxes from any such payment
or from other compensation payable to the Participant at the time of such
vesting and delivery pursuant to Section 12 of the Plan.

6.                                       Payment of Cash Units.  Upon
the vesting, if at all, of Participant’s right to receive Cash Units, the Cash
Units will be settled by a cash payment to the Participant as soon as
practicable after the vesting.  The Company will have the right to withhold
applicable taxes from any such payment or from other compensation payable to
the Participant at the time of such vesting and delivery pursuant to Section 12
of the Plan.

7.                                       Exercise of Options.  Subject
to the limitations set forth herein and in the Plan, the Options may be
exercised pursuant to the procedures established by the Committee.  Unless otherwise permitted by the Committee,
upon exercise the Participant must provide to the Company or its designated
representative, cash, 

 3
 

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 Participant, Common Stock held by the
Participant 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, the
Common Stock will 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 must be appropriately endorsed for transfer and assignment to the Company.  The Company will have the right to withhold
applicable taxes from compensation otherwise payable to the Participant at the
time of exercise pursuant to Section 12 of the Plan.

8.                                       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 prior to vesting date, (i) Participant’s right to receive
Restricted Stock Units and Cash Units will vest and will be settled by a cash
payment to Participant equal to the product of (A) the Fair Market Value per
share of Common Stock on the date immediately preceding the date on which the
Change of Control occurs and (B) the total number of Restricted Stock Units and
Cash Units granted and (ii) Participant’s right to receive the Options (unless
previously expired pursuant to Section 4) shall be settled by a cash payment to
the Participant equal to the product of (A) the difference between (1) the Fair
Market Value per share of Common Stock on the date immediately preceding the
date on which the Change in Control occurs and (2) the exercise price of the
Options and (B) the total number of unexercised Option shares, regardless of
whether such Option shares have become exercisable under Section 3.  Such cash payment will satisfy the rights of
Participant and the obligations of the Company under this Agreement in full.

9.                                       Notices.  For purposes
of this Agreement, notices and all other communications must be in writing and
will be deemed to have been given when personally delivered or when mailed by
United States registered or certified mail, return receipt requested, postage
prepaid, addressed to the Company at 1000 Main St., Houston, TX 77002, and to
the Participant at the address on record for the Participant in the Company’s
human resources department or to such other address as either party may furnish
to the other in writing in accordance with this Section 9.

10.                                 Successors and Assigns. 
This Agreement is binding upon and inures to the benefit of  the Participant, the Company and their respective permitted
successors and assigns.  Notwithstanding
anything herein to the contrary, the Restricted Stock Units, Cash Units and/or
Options are transferable by the Participant to Immediate Family Members,
Immediate Family Members Trusts and Immediate Family Member Partnerships
pursuant to Section 14 of the Plan.

11.                                 No Employment Guaranteed. 
Nothing in this Agreement gives the Participant any rights to (or
imposes any obligations for) continued Employment by the 

 4
 

Company or any
Subsidiary thereof or successor thereto, nor does it give those entities any
rights (or impose any obligations) with respect to continued performance of
duties by the Participant.

12.                                 Shareholder Rights. 
The Participant shall have no rights of a shareholder with respect to
the Restricted Stock Units or the Options unless and until the Participant is
registered as the holder of shares of Common Stock representing the Restricted
Stock Units and/or the Options on the records of the Company.

13.                                 Section 409A of the Code. 
It is intended that this Agreement and any Awards under this Agreement
satisfy the requirements of Section 409A of the Code to avoid imposition of
applicable taxes thereunder.  Thus,
notwithstanding anything in this Agreement to the contrary, if any provision of
this Agreement or Award under this Agreement would result in the imposition of
an applicable tax under Section 409A of the Code and related regulations and
Treasury pronouncements, that Agreement provision or Award will be reformed to
avoid imposition of the applicable tax and no action taken to comply with
Section 409A shall be deemed to adversely affect the Participant’s rights to an
Award.

	
  

  	
   

  	
   

  	
  RELIANT ENERGY, INC.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Karen D. Taylor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Karen D. Taylor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Senior Vice President

  	
   

  

 

 5
 

Exhibit I

Performance
Goal

A closing price
for shares of the Company’s common stock on the New York Stock Exchange of $23
for 20 consecutive trading days any time between February 20, 2007 and February
20, 2010.  If the Company’s shares do not
reach and maintain a closing price of $23 for 20 consecutive trading days
between February 20, 2007 and February 20, 2010, the Cash Units will be
forfeited.

 

 6

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