Document:

Form of Restricted Stock Award Agreement - Bruce Williamson

 Exhibit 10.71 
 FORM OF 
 RESTRICTED STOCK AWARD AGREEMENT 
 THIS RESTRICTED STOCK AWARD AGREEMENT (this “Agreement”) is made as of the
[            ] day of April, 2007, between DYNEGY INC., a Delaware corporation (“Dynegy”), and all of its Affiliates (collectively, the “Company”), and
Bruce A. Williamson (“Employee”). A copy of the Dynegy Inc.
[                                       
 ] Incentive Plan (the “Plan”) is annexed to this Agreement and shall be deemed a part hereof as if fully set forth herein. Unless the context otherwise requires, all terms that are not defined in this Agreement but which are
defined in the Plan shall have the same meaning given to them in the Plan when used herein. 
 1. Award. Pursuant to the Plan, the Committee,
on April [            ], 2007 (the “Grant Date”), designated
[                    ] restricted shares (the “Restricted Shares”) of Dynegy’s Class A common stock, $0.01 par
value per share (“Common Stock”), shall be issued as hereinafter provided in the Employee’s name subject to certain restrictions thereon. The Restricted Shares shall be issued upon acceptance hereof by the Employee and upon
satisfaction of the conditions of this Agreement. The Employee acknowledges receipt of a copy of the Plan, and agrees that this award of Restricted Shares shall be subject to all of the terms and provisions of the Plan, including future amendments
thereto, if any, pursuant to the terms thereof, and to all of the terms and conditions of this Agreement. If it is subsequently determined by the Committee, in its sole discretion, that the terms and conditions of this Agreement and/or the Plan are
not compliant with Code Section 409A, or any Treasury regulations or Internal Revenue Service guidance promulgated thereunder, this Agreement and/or the Plan may be amended accordingly. 
 2. Restricted Shares. The Employee hereby accepts the Restricted Shares when issued and agrees with respect thereto as follows: 
 (a) Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise
transferred, encumbered or otherwise disposed of (any such sale, assignment, pledge, exchange, hypothecation or other transfer, encumbrance or disposition being referred to herein as a “Transfer”) to the extent then subject to the
Forfeiture Restrictions (as hereinafter defined), and in the event of termination of the Employee’s employment with the Company for any reason whatsoever, the Employee shall, for no consideration, forfeit to the Company all Restricted Shares
then subject to the Forfeiture Restrictions, except to the extent that such Forfeiture Restrictions lapse upon such termination in accordance with Section 2(b) hereof. The prohibition against Transfer and the obligation to forfeit and surrender
Restricted Shares to the Company upon termination of employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares. For
purposes of this Agreement, the following terms shall have the meanings indicated below: 
 (i) “Base Salary” shall
have the same meaning as specified in the Employment Agreement. 
  

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 (ii) “Cause” shall mean, and hence arise as a result of, as determined by the
Committee in its sole discretion, the Employee’s (A) refusal to implement or adhere to lawful policies or lawful directives of the Board; (B) engaging in conduct which is materially injurious (monetarily or otherwise) to the Company
(including, without limitation, misuse of the Company’s funds or other property); (C) misconduct or dishonesty directly related to the performance of the Employee’s duties for the Company or gross negligence in the performance of the
Employee’s duties for the Company; (D) conviction (or entering into a plea bargain admitting criminal guilt) in any criminal proceeding involving a felony or a crime of moral turpitude; (E) drug or alcohol abuse; (F) continued
failure to perform Employee’s duties under the Employment Agreement which is not cured within 10 days after written notice is provided to Employee by the Company; or (G) material breach of any other provision of the Employment Agreement
which is not cured within 10 days after written notice is provided to Employee by the Company. 
 (iii) “Change in
Control” shall mean the occurrence of any of the following events: (A) a merger of Dynegy with another entity, a consolidation involving Dynegy, or the sale of all or substantially all of the assets or equity interests of Dynegy to another
entity if, in any such case, (I) the holders of equity securities of Dynegy immediately prior to such event do not beneficially own immediately after such event equity securities of the resulting entity entitled to fifty-one percent
(51%) or more of the votes then eligible to be cast in the election of directors (or comparable governing body) of the resulting entity in substantially the same proportions that they owned the equity securities of Dynegy immediately prior to
such event or (II) the persons who were members of the Board immediately prior to such event do not constitute at least a majority of the board of directors of the resulting entity immediately after such event; (B) the dissolution or
liquidation of Dynegy, but excluding a reorganization pursuant to chapter 11 of Title 11, U.S. Code, as amended; (C) a circumstance where any person or entity, including a “group” as contemplated by Section 13(d)(3) of the
Exchange Act, acquires or gains ownership or control (including, without limitation, power to vote) of fifty percent (50%) or more of the combined voting power of the outstanding securities of, (I) if Dynegy has not engaged in a merger or
consolidation, Dynegy, or (II) if Dynegy has engaged in a merger or consolidation, the resulting entity; (D) circumstances where, as a result of or in connection with, a contested election of directors, the persons who were members of the Board
immediately before such election shall cease to constitute a majority of the Board; or (E) the Board (or the Committee) adopts a resolution declaring that a Change in Control has occurred. For purposes of the “Change in Control”
definition, (1) “resulting entity” in the context of an event that is a merger, consolidation or sale of all or substantially all of the subject assets or equity interests shall mean the surviving entity (or 

  

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acquiring entity in the case of an asset or equity interest sale), unless the surviving entity (or acquiring entity in the case of an asset sale) is a
subsidiary of another entity and the holders of common stock of Dynegy receive capital stock of such other entity in such transaction or event, in which event the resulting entity shall be such other entity, and (2) subsequent to the
consummation of a merger or consolidation that does not constitute a Change in Control, the term “Dynegy” shall refer to the resulting entity and the term “Board” shall refer to the board of directors (or comparable governing
body) of the resulting entity. 
 (iv) “Committee” shall mean the committee that administers the Plan. 

(v) “Constructive Termination” shall have the same meaning as specified in the Employment Agreement. 
 (vi) “Employment Agreement” shall mean the Employee’s employment agreement, as amended, with Dynegy. 
 (vii) “Involuntary Termination” shall mean Employee’s employment is terminated by the Company (or a successor thereto)
without Cause, or by Employee following: (i) a significant diminution in Employee’s responsibilities, authority or duties; (ii) a reduction in Employee’s Base Salary; (iii) relocation of Employee’s position outside the
Houston, Texas metropolitan area; or (iv) a material breach of the Employment Agreement by the Company. 
 (b)
Lapse of Forfeiture Restrictions. The Forfeiture Restrictions shall lapse as to 100% of the Restricted Shares on the third anniversary of the Grant Date, provided that the Employee has been continuously employed by the Company from the
date of this Agreement through such lapse date. Notwithstanding the foregoing: 
 (i) if the Employee’s employment with
the Company terminates by reason of disability (as defined in the Company’s long term disability program or plan in which the Employee is a participant or, if the Employee does not participate in any such plan, as defined in the Dynegy Inc.
Long Term Disability Plan, as amended, or the successor plan thereto) or death of the Employee, then the Forfeiture Restrictions shall lapse with respect to 100% of the Restricted Shares awarded to the Employee hereunder as of the date of such
termination; and 
 (ii) if the Employee’s employment with the Company is terminated for Cause or terminates due to
Employee’s voluntary resignation (other than a voluntary resignation as provided in Sections 2(b)(iv) or (v) below), then the Employee shall immediately, for no consideration, forfeit to the Company all Restricted Shares to the extent then
subject to the Forfeiture Restrictions; and 
  

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 (iii) if the Employee’s employment with the Company terminates by reason of
retirement by the Employee following (A) the date on which such Employee has reached fifty-five (55) years of age and (B) at least five (5) years of service as an employee of the Company, then the Forfeiture Restrictions shall
lapse as to 100% of the Restricted Shares awarded to the Employee hereunder on the third anniversary of the Grant Date as if the Employee had continuously been employed by the Company following such termination; and 
 (iv) if the Employee’s employment with the Company terminates by reason of dismissal by the Company other than for Cause or due to
Employee’s resignation following a Constructive Termination, then the Forfeiture Restrictions shall lapse with respect to 100% of the Restricted Shares awarded to the Employee hereunder as of the date of such employment termination; and

 (v) if the Employee’s employment with the Company terminates as a result of an Involuntary Termination occurring
within sixty (60) days before a Change in Control, then the Forfeiture Restrictions shall lapse with respect to 100% of the Restricted Shares awarded to the Employee hereunder as of the date of such Change in Control; and 
 (vi) if the Employee is employed by the Company (or a successor thereto) on the date of a Change in Control, then the Forfeiture
Restrictions shall lapse with respect to 100% of the Restricted Shares awarded to the Employee hereunder as of the date of such Change in Control. 
 Any shares with respect to which the Forfeiture Restrictions do not lapse in accordance with the preceding provisions of this Section 2(b) shall be forfeited to the Company for no consideration as of the date of the termination of the
Employee’s employment with the Company. 
 (c) Shareholder Rights & Certificates. The Employee
shall have all of the rights of a shareholder of the Company with respect to the Restricted Shares, including, without limitation, voting rights and the right to receive dividends (provided, however, that dividends paid in shares of the
Company’s stock shall be subject to the Forfeiture Restrictions), but the Employee may not Transfer the Restricted Shares until the Forfeiture Restrictions have expired, and a breach of the terms of this Agreement or the Plan shall cause a
forfeiture of the Restricted Shares. Any certificate issued by the Company evidencing the Restricted Shares shall bear appropriate legends in accordance with Section 4 below and shall be delivered upon issuance to the Secretary of the Company
or to such other depository as may be designated by the Committee as a 

  

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depository for safekeeping until the forfeiture of such Restricted Shares occurs or the Forfeiture Restrictions lapse pursuant to the terms of the Plan and
this award. In the event a certificate evidencing the Employee’s Restricted Shares is issued by the Company prior to the lapse of the Forfeiture Restrictions, the Employee shall promptly deliver to the Company a stock power, endorsed in blank,
relating to the Restricted Shares. Upon the lapse of the Forfeiture Restrictions without forfeiture, the Company shall, promptly following receipt of a written request from the Employee, cause a certificate or certificates evidencing the shares of
Common Stock awarded to the Employee hereunder (and with respect to which the Forfeiture Restrictions have lapsed) to be issued without legend (except for any legend required pursuant to applicable securities laws or any other agreement to which the
Employee is a party) in the name of the Employee in exchange for the certificate, if any, evidencing the Restricted Shares. 
 (d) Corporate Acts. The existence of the Restricted Shares shall not affect in any way the right or power of the Board of Directors of the Company or the shareholders of the Company to make or authorize any adjustment,
recapitalization, reorganization or other change in the Company’s capital structure or its business, any merger or consolidation of the Company, any issue of debt or equity securities, the dissolution or liquidation of the Company or any sale,
lease, exchange or other disposition of all or any part of its assets or business or any other corporate act or proceeding. The prohibitions of Section 2(a) hereof shall not apply to the Transfer of Restricted Shares pursuant to a plan of
reorganization of the Company, but the stock, securities or other property received in exchange therefore shall also become subject to the Forfeiture Restrictions and provisions governing the lapsing of such Forfeiture Restrictions applicable to the
original Restricted Shares for all purposes of this Agreement and the certificates, if any, representing such stock, securities or other property shall be legended to show such restrictions. 
 3. Withholding of Tax. To the extent that the receipt of the Restricted Shares or the lapse of any Forfeiture Restrictions results in
compensation income to the Employee for federal or state income tax purposes, the Employee shall deliver to the Company at the time of such receipt or lapse, as the case may be, such amount of money as the Company may require to meet its obligation
under applicable tax laws or regulations, and if the Employee fails to do so, the Company is authorized to withhold from any cash or stock remuneration (including withholding any Restricted Shares distributable to the Employee under this Agreement)
then or thereafter payable to the Employee any tax required to be withheld by reason of such resulting compensation income. 
 4.
Status of Stock. The Employee agrees that the Restricted Shares issued under this Agreement will not be sold or otherwise disposed of in any manner which would constitute a violation of any applicable federal or state securities laws.
The Employee also agrees that (a) in the event a certificate representing the Restricted Shares is issued, such certificate may bear such legend or legends as the Committee deems appropriate in order to reflect the Forfeiture Restrictions and
to assure compliance with applicable securities laws, (b) the Company may refuse to register the Transfer of the Restricted Shares on the stock transfer records of the Company if such proposed Transfer would constitute a violation of the
Forfeiture Restrictions or, in the opinion of counsel satisfactory to the Company, of any applicable securities law, and (c) the Company may give related instructions to its transfer agent, if any, to stop registration of the Transfer of the
Restricted Shares. 
  

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 5. Employment Relationship. For purposes of this Agreement, the Employee shall be
considered to be in the employment of the Company as long as the Employee remains an employee of either the Company or an Affiliate (as such term is defined in the Plan). Nothing in the adoption of the Plan or the award of the Restricted Shares
thereunder pursuant to this Agreement shall confer upon the Employee the right to continued employment by the Company or affect in any way the right of the Company to terminate such employment at any time. Unless otherwise provided in a written
employment agreement or by applicable law, the Employee’s employment by the Company shall be on an at-will basis, and the employment relationship may be terminated at any time by either the Employee or the Company for any reason whatsoever,
with or without cause. Any question as to whether and when there has been a termination of such employment, and the cause of such termination, shall be determined by the Committee, and its determination shall be final. 
 6. Notices. Any notices or other communications provided for in this Agreement shall be sufficient if in writing. In the case of the
Employee, such notices or communications shall be effectively delivered when hand delivered to the Employee at his or her principal place of employment or when sent by registered or certified mail to the Employee at the last address the Employee has
filed with the Company. In the case of the Company, such notices or communications shall be effectively delivered when sent by registered or certified mail to the Company at its principal executive offices. 
 7. Entire Agreement; Amendment. This Agreement replaces and merges all previous agreements and discussions relating to the same or similar
subject matters between the Employee and the Company and constitutes the entire agreement between the Employee and the Company with respect to the subject matter of this Agreement. This Agreement may not be modified in any respect by any verbal
statement, representation or agreement made by any employee, officer, or representative of the Company or by any written agreement unless signed by an officer of the Company who is expressly authorized by the Company to execute such document.

 8. Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all
persons lawfully claiming under the Employee. 
 9. Miscellaneous. In the event of any conflict or inconsistency between the
terms of this Agreement and the terms of the Plan, the terms of the Plan shall be controlling. In the event of any conflict or inconsistency between the terms hereof and the terms of the Dynegy Inc. Executive Severance Pay Plan, including any
amendments or supplements thereto, the terms hereof shall be controlling. 
 [Remainder of page intentionally left blank] 

 

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 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an officer
thereunto duly authorized, and the Employee has agreed to and accepted the terms of this Agreement, all as of the date first above written. 
  

			
	DYNEGY INC.
		
	By:	 	  

	Name:	 	J. Kevin Blodgett
	Title:	 	General Counsel & EVP, Administration
	
	Accepted By:

  

			
	  
 Bruce A. Williamson
	 	  
 DateForm of Performance Award Agreement - Bruce Williamson

 Exhibit 10.72 
 FORM OF 
 PERFORMANCE AWARD AGREEMENT 
 THIS PERFORMANCE AWARD AGREEMENT (this “Agreement”) is made as of the
[            ] day of April, 2007, between DYNEGY INC., a Delaware corporation (“Dynegy”), and all of its Affiliates (collectively, the “Company”), and
Bruce A. Williamson (“Employee”). A copy of the Dynegy Inc. 2002 Long Term Incentive Plan (the “Plan”) is annexed to this Agreement and shall be deemed a part of this Agreement as if fully set forth herein. Unless the context
otherwise requires, all terms that are not defined herein but which are defined in the Plan shall have the same meaning given to them in the Plan when used herein. 
 1. The Grant. The Compensation and Human Resources Committee of the Board of Directors (the “Committee”) granted to Employee on April
[            ] 2007 (“Effective Date”), a Performance Award of [            ] performance
units, each of which has a designated value of $100 and represents the right to receive an amount payable in the form of cash or shares of Dynegy’s Class A Common Stock (a “Share” or “Shares”), as determined in the
discretion of the Committee. Employee acknowledges receipt of a copy of the Plan, and agrees that this Performance Award shall be subject to all of the terms and provisions of the Plan, including future amendments thereto, if any, pursuant to the
terms thereof, and to all of the terms and conditions of this Agreement. If it is subsequently determined by the Committee, in its sole discretion, that the terms and conditions of this Agreement and/or the Plan are not compliant with Code
Section 409A, or any Treasury regulations or Internal Revenue Service guidance promulgated thereunder, this Agreement and/or the Plan may be amended accordingly. 
 2. Performance Period and Performance Goals. Subject to the provisions of Section 5 of this Agreement, the performance period for purposes of determining whether the Performance Award will be paid
shall be April 24, 2007 through April 23, 2010 (the “Performance Period”). The performance goals for purposes of determining whether, and the extent to which, the Performance Award will be paid are set forth in Exhibit
1 to this Agreement, which Exhibit is made a part of this Agreement. Notwithstanding the foregoing, the Committee shall have discretion to adjust the performance goals to reflect actions undertaken in the best interest of the Company and its
shareholders, including, but not limited to, strategic transactions affecting the performance goals as well as recapitalizations, reorganizations, mergers, consolidations, split-ups, split-offs, spin-offs, exchanges or other relevant changes in
capitalization or structure of the Company. 
 3. Payment. Subject to the provisions of Sections 4 and 5 of this Agreement,
after the Performance Period, the Performance Award shall be paid as soon as practicable after the Committee determines whether and to what extent the performance goals have been achieved for the Performance Period in accordance with the terms set
forth in Exhibit 1 to this Agreement; provided, however, that any such payment shall be made no later than December 31, 2010. 
 4. Termination. The Performance Award and the Employee’s right to receive any cash or Shares hereunder will automatically and without notice terminate and become null and void upon Employee’s termination of
employment with the Company prior to the Performance Award payment date, except that if Employee’s termination of employment is by reason of: 
 (a) death, 
  

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 (b) disability (as defined in the Company’s long term disability program or the plan
in which Employee is a participant or, if Employee does not participate in any such plan, as defined in the Dynegy Inc. Long Term Disability Plan, as amended, or the successor plan thereto), 
 (c) retirement by Employee following (i) the date on which such Employee has reached fifty-five (55) years of age and
(ii) at least five (5) years of service as an employee of the Company, or 
 (d) dismissal by the Company other than
for Cause or Employee’s resignation following a “Constructive Termination” (as defined in Employee’s employment agreement, as amended, with Dynegy (the “Employment Agreement”)), 
 Employee shall be treated as if he or she had been continuously employed by the Company through the Performance Award payment date. In such case, Employee or
Employee’s legal representative, or the person, if any, who acquired the Performance Award by bequest or inheritance or by reason of the death of Employee, shall be entitled to receive any payment with respect to the Performance Award in
accordance with this Agreement; provided, however, that if Employee’s termination of employment is for the reason described in (d), any such payment shall be prorated by multiplying the payment by a fraction, the numerator of which shall be the
number of calendar days that elapsed between the date of Employee’s termination and the Effective Date and the denominator of which shall be 1,080 but in no case shall such fraction be greater than one (1). 
 For purposes of this Agreement, the term “Cause” shall mean, and hence arise as a result of, as determined by the Committee in its sole
discretion, Employee’s (i) refusal to implement or adhere to lawful policies or lawful directives of the Board of Directors; (ii) engaging in conduct which is materially injurious (monetarily or otherwise) to the Company (including,
without limitation, misuse of the Company’s funds or other property); (iii) misconduct or dishonesty directly related to the performance of Employee’s duties for the Company or gross negligence in the performance of Employee’s
duties for the Company; (iv) conviction (or entering into a plea bargain admitting criminal guilt) in any criminal proceeding involving a felony or a crime of moral turpitude; (v) drug or alcohol abuse; (vi) continued failure to
perform Employee’s duties under the Employment Agreement which is not cured within 10 days after written notice is provided to Employee by the Company; or (vii) material breach of any other provision of the Employment Agreement which is
not cured within 10 days after written notice is provided to Employee by the Company. 
 5. Change In Control. In the event a
“Change in Control” (as defined below) occurs during the Performance Period, provided the ending Share price, as determined in accordance with this Section 5, would entitle Employee to receive a Performance Award based upon the
performance goals set forth in Exhibit 1 to this Agreement, Employee shall receive a payment with respect to the Performance Award, which shall be determined by using either, as 

  

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applicable (a) the agreed price per Share received by the shareholders of Dynegy as a result of the Change in Control transaction, or if there is no
agreed price per Share, then (b) the average closing Share price for the twenty (20) consecutive trading days immediately preceding the effective date of the Change in Control, as the ending Share price for the Performance Period. Such
payment, if any, shall be made regardless of whether Employee’s employment with the Company is terminated (other than For Cause) on or after the effective date of such Change in Control, and shall be made in the form of cash to Employee as soon
as administratively feasible but no later than the later of December 31 of the calendar year in which the Change in Control occurs or the 15th day of the third month following the effective date of the Change in Control. The Performance Period shall end as of the effective date of a Change in Control, and any Performance Award payments
hereunder shall only be made in accordance with this Section 5. 
 For purposes of this Agreement, “Change in Control” shall
mean the occurrence of any of the following events: (1) a merger of Dynegy with another entity, a consolidation involving Dynegy, or the sale of all or substantially all of the assets or equity interests of Dynegy to another entity if, in any
such case, (A) the holders of equity securities of Dynegy immediately prior to such event do not beneficially own immediately after such event equity securities of the resulting entity entitled to fifty-one percent (51%) or more of the
votes then eligible to be cast in the election of directors (or comparable governing body) of the resulting entity in substantially the same proportions that they owned the equity securities of Dynegy immediately prior to such event or (B) the
persons who were members of the Board immediately prior to such event do not constitute at least a majority of the board of directors of the resulting entity immediately after such event; (2) the dissolution or liquidation of Dynegy, but
excluding a reorganization pursuant to chapter 11 of Title 11, U.S. Code, as amended; (3) a circumstance where any person or entity, including a “group” as contemplated by Section 13(d)(3) of the Exchange Act, acquires or gains
ownership or control (including, without limitation, power to vote) of fifty percent (50%) or more of the combined voting power of the outstanding securities of, (A) if Dynegy has not engaged in a merger or consolidation, Dynegy, or
(B) if Dynegy has engaged in a merger or consolidation, the resulting entity; (4) circumstances where, as a result of or in connection with, a contested election of directors, the persons who were members of the Board immediately before
such election shall cease to constitute a majority of the Board; or (5) the Board (or the Committee) adopts a resolution declaring that a Change in Control has occurred. For purposes of the “Change in Control” definition,
(A) “resulting entity” in the context of an event that is a merger, consolidation or sale of all or substantially all of the subject assets or equity interests shall mean the surviving entity (or acquiring entity in the case of an
asset or equity interest sale), unless the surviving entity (or acquiring entity in the case of an asset sale) is a subsidiary of another entity and the holders of common stock of Dynegy receive capital stock of such other entity in such transaction
or event, in which event the resulting entity shall be such other entity, and (B) subsequent to the consummation of a merger or consolidation that does not constitute a Change in Control, the term “Dynegy” shall refer to the resulting
entity and the term “Board” shall refer to the board of directors (or comparable governing body) of the resulting entity. 
 6.
Status of Stock. Employee agrees that any Shares distributed pursuant to this Agreement will not be sold or otherwise disposed of in any manner which would constitute a violation of any applicable federal or state securities laws.
Employee also agrees that (a) the certificates representing the Shares may bear such legend or legends as the Committee in its sole 

  

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discretion deems appropriate in order to assure compliance with applicable securities laws and (b) the Company may refuse to register the transfer of
the Shares on the stock transfer records of the Company, and may give related instructions to its transfer agent, if any, to stop registration of such transfer, if such proposed transfer would in the opinion of counsel satisfactory to the Company
constitute a violation of any applicable securities law. 
 7. Employment Relationship. For purposes of this Agreement,
Employee shall be considered to be in the employment of the Company as long as Employee remains an employee of the Company or an Affiliate (as such term is defined in the Plan). Nothing in the adoption of the Plan or the grant of the Performance
Award thereunder pursuant to this Agreement, shall confer upon Employee the right to continued employment by the Company or affect in any way the right of the Company to terminate such employment at any time. Unless otherwise provided in a written
employment agreement or by applicable law, Employee’s employment by the Company shall be on an at-will basis, and the employment relationship may be terminated at any time by either Employee or the Company for any reason whatsoever, with or
without cause. Any question as to whether and when there has been a termination of such employment, and the cause of such termination, shall be determined by the Committee in its sole discretion, and its determination shall be final and binding on
all parties. 
 8. Withholding of Tax. To the extent that payment of the Performance Award results in compensation income to
Employee for federal or state income tax purposes, the Company is authorized to withhold from any cash or Shares distributable to the Employee under this Agreement) then or thereafter payable to Employee any tax required to be withheld by reason of
such resulting compensation income. 
 9. Miscellaneous. 
 (a) This grant is subject to all the terms, conditions, limitations and restrictions contained in the Plan. In the event of any conflict
or inconsistency between the terms hereof and the terms of the Plan, the terms of the Plan shall be controlling. In the event of any conflict or inconsistency between the terms hereof and the terms of the Dynegy Inc. Executive Severance Pay Plan,
including any amendments or supplements thereto, or the Dynegy Inc. Severance Pay Plan, including any amendments or supplements thereto, the terms hereof shall be controlling. 
 (b) Any notices or other communications provided for in this Agreement shall be sufficient if in writing. In the case of Employee, such
notices or communications shall be effectively delivered when hand delivered to Employee at his or her principal place of employment or when sent by registered or certified mail to Employee at the last address Employee has filed with the Company. In
the case of the Company, such notices or communications shall be effectively delivered when sent by registered or certified mail to the Company at its principal executive offices. 
 (c) Employee shall be presumed to have agreed to and accepted the terms of this Agreement unless he or she submits a written objection to
the Committee or the undersigned officer within 30 days after the Effective Date. 
  

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 [Remainder of page intentionally left blank] 
 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an officer thereunto duly authorized as of the date first above
written. 
  

					
	DYNEGY INC.	 	
			
	 By:
	 	  
	 	
	 Name:
	 	J. Kevin Blodgett	 	
	 Title:
	 	 General Counsel & EVP,
 Administration
	 	

  

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 Exhibit 1 
 Performance Goals for Performance Period 
 (April 24, 2007 — April 23, 2010)

  

											
	 	 	 	  	Threshold	 	Target	 	Stretch	 	Maximum
	 Performance
 Goals
	 	 Dynegy Inc.
 Achieved Share Price*
	  	<$11.75	 	$12.75	 	$13.75	 	$15.25
						
	 Payment
 Levels**
	 	 % of each $100 Performance Unit
	  	0%	 	100%	 	200%	 	300%

	*	Achieved Share Price shall be the ending Share price equal to the average closing Share price for March 2010 or, if applicable, the ending Share price determined in accordance with
Section 5 of the Agreement in the event of a Change in Control. 

	**	Payment levels will be based upon the actual Achieved Share Price and will be interpolated between Achieved Share Price goals.

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