Document:

Supplemental Executive Retirement Plan

 Exhibit 10.4 
  
 FOURTH AMENDMENT 
 TO 
 CHICAGO MERCANTILE EXCHANGE 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
  
 By
virtue and in exercise of the amending authority reserved to the Chicago Mercantile Exchange Inc. (the “Company”), as successor by merger to the Chicago Mercantile Exchange, by the provisions of subsection 5.2 of the Chicago Mercantile
Exchange Supplemental Executive Retirement Plan (the “Plan”), the Plan is amended in the following particulars: 
  
 1. By changing the name of the Plan to “Chicago Mercantile Exchange Inc. Supplemental Executive Retirement Plan” where the name of the Plan
appears on the title page and immediately preceding Section 1 of the Plan, effective as of November 13, 2000. 
  
 2. By substituting the following for subsection 1.1 of the Plan, effective as of November 13, 2000: 
  
 “1.1. History, Purpose and Effective Date. Chicago Mercantile
Exchange Supplemental Executive Retirement Plan (the ‘Plan’) was established, effective as of January 1, 1993 (the ‘Effective Date’) by Chicago Mercantile Exchange, an Illinois not-for-profit corporation (‘CME’), to
provide its eligible key management employees with an opportunity to receive additional retirement income. Pursuant to a series of demutualization transactions and an agreement and plan of merger, effective as of November 13, 2000, Chicago
Mercantile Exchange Inc., a shareholder-owned, for-profit Delaware corporation (the ‘Exchange’) succeeded to the assets, liabilities and business of CME and to the power, authority and responsibility of CME under and with respect to the
Plan. Effective as of December 3, 2001, pursuant to a further corporate reorganization, the Exchange became a wholly-owned subsidiary of Chicago Mercantile Exchange Holdings Inc. (‘CME Holdings’). The Plan is intended to constitute a plan
maintained primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees within the meaning of section 201(2), 301(a)(3) and 401(a)(l) of the Employee Retirement Income Security Act of
1974, as amended (‘ERISA’).” 
  
 3. By substituting
the following for subsection 1.11 of the Plan, effective as of October 1, 2003: 
  
 “1.11. Action by Exchange. Any action required or permitted to be taken by the Exchange shall be by resolution of its Board of Directors, by a duly authorized officer of the Exchange, by a duly authorized
committee or other duly authorized person or persons. Notwithstanding the preceding sentence, the Board of Directors of the Exchange has delegated to the Compensation Committee (‘Compensation Committee’) of the Board of Directors of CME
Holdings the authority to take any action required or permitted to be taken by the Exchange under the Plan. Unless earlier revoked by resolution of the Board of Directors of the Exchange, the foregoing delegation of authority to the Compensation
Committee shall be revoked, without the necessity of further action by the Board of Directors of the Exchange, if and when the Exchange ceases to be a wholly-owned subsidiary of CME Holdings.” 

 4. By substituting the following for subsection 3.2 of the Plan, effective as of October 1, 2003:

  
 “3.2. Deferred Compensation Credits. Unless
otherwise determined by the Compensation Committee, for each Plan Year beginning on or after January 1, 2003, 3 percent of each Participant’s base earnings and bonus paid in such Plan Year shall be awarded as Deferred Compensation Credits. The
amount of Deferred Compensation Credits awarded to a Participant for any such Plan Year shall be credited to his Account as of the first business day of the next following Plan Year.” 
  
 5. By substituting the following for subsection 4.1 of the Plan, effective as
of October 1, 2003: 
  
 “4.1. Vesting. A
Participant’s vested interest in his Account shall be determined as follows:” 
  

	 	(a)	A Participant shall have at all times a fully vested and nonforfeitable interest in (i) the amount of any Deferred Compensation Credits credited to the Participant’s Account as
of December 31,1996, and (ii) any assumed investment adjustment theretofore or thereafter credited with respect to such Deferred Compensation Credits under subsection 3.3. 

  

	 	(b)	A Participant shall have a fully vested and nonforfeitable interest in the amount of any Deferred Compensation Credits credited to the Participant’s Account in accordance with
subsection 3.2 as of the first business day of any Plan Year beginning on or after January 1, 2004 (and any assumed investment adjustments thereon) upon completion of five Years of Vesting Service (as described below). 

  

	 	(c)	A Participant shall have a fully vested and nonforfeitable interest in the amount of any Deferred Compensation Credits credited to the Participant’s Account in accordance with
subsection 3.2 as of the first business day of any Plan Year beginning on or after January 1, 1997 and before January 1, 2004 (“Post-1996 Credits”), and any assumed investment adjustments thereon, as of December 10th of the fourth Plan
Year following the Plan Year as of which such Deferred Compensation Credits are credited to the Participant’s Account. Prior thereto, the amount of any Post-1996 Credits (and any assumed investment adjustments thereon) shall be vested and
nonforfeitable as of December 10th of the Plan Year that follows the Plan Year as of which such Post-1996 Credits were credited to the Participant’s Account by the number of Plan Years determined in accordance with the following schedule:

  

			
	 Number of Plan Years following the
 Plan Year as of which the Post-1996
 Credits were credited to his Account

	  	The vested percentage shall be

	 Three Plan Years
	  	66 2/3%
	 Two Plan Years
	  	33 1/3%
	 One Plan Year
	  	0%

  

 2 

 A Participant’s Years of Vesting Service as of any date shall be equal to the number of full and partial years of
service credited to the Participant for vesting purposes as of such date under the provisions of the Pension Plan for Employees of the Chicago Mercantile Exchange Inc. (the ‘Pension Plan’) or, in the case of a Participant who is not
eligible to participate in the Pension Plan, the number of full and partial years of service that would be credited to the Participant for vesting purposes under the Pension Plan as of such date if the Participant were eligible to participate in the
Pension Plan.” 
  
 *            *            * 
  
 CERTIFICATION OF CORPORATE SECRETARY 
  
 The undersigned Secretary of the Chicago Mercantile Exchange Inc. (the “Company”) hereby certifies that the foregoing is a true and correct copy
of an amendment adopted by resolution of the Company’s Board of Directors on December 16, 2003. 
  

			
	By	 	 /s/ Kathleen M. Cronin

	 	 	Secretary as Aforesaid

  

 3Form of Stock Option Agreement

 Exhibit 10.12 
  
 

 

					
			
	 	  	 	  	800 Cabin Hill Drive
	 	  	 	  	Greensburg, PA 15601
	 	  	 	  	724-837-3000
			
	 	  	 	  	Date

 Name 
 Street

 City 
  
 Dear First Name: 
  
 I am pleased to inform you
that the Board of Directors of Allegheny Energy, Inc. (“AE”) approved a grant to you of options to purchase shares of Allegheny Energy, Inc. common stock under the Allegheny Energy, Inc. Long Term Incentive Plan (the “Plan”).
This grant is subject to the terms and conditions of the Plan, which are incorporated by reference into this Notice Letter. In the event of any conflict between the terms of this Notice Letter and the Plan, the Plan’s terms will control.

  
 Option Summary 
  

							
	 Date of Grant:
	    	 Date
	  	 	  	 Type of Option: Non-Qualified Stock Option

				
	 Exercise Price per Share:
	    	 $
	  	 	  	 
				
	 Expiration Date:
	    	 Date
	  	 	  	 Number of Shares Granted: Date

  

	Vesting	Schedule: 

  

									
	 	 	         Date
	  	20%	 	 vested
	  	 
	 	 	         Date
	  	40%	 	 vested
	  	 
	 	 	         Date
	  	60%	 	 vested
	  	 
	 	 	         Date
	  	80%	 	 vested
	  	 
	 	 	         Date
	  	100%	 	 vested
	  	 

  
 Upon a Change in Control (as defined
in the Plan), the Option will be fully vested and exercisable. 
  
 Exercise After Termination Of Employment With AE Or Any Subsidiary: 
  
 Termination of employment due to retirement or disability (as defined in the Plan): vested portion of the Option is exercisable by you for three years after your termination of employment. 
  
 Death of participant: vested portion of the Option is exercisable by your beneficiary
until the later to occur of one year from the time of death or, if applicable, three years from the date of termination due to retirement. 
  
 Termination of employment for any reason other than as described above: vested portion of the Option is exercisable by you for 90 days after your termination of
employment. 
  
 Termination of employment for any reason: unvested portion
of the Option terminates immediately and is no longer exercisable. 
  
 In no
event may this Option be exercised after the Expiration Date as provided above. 

 Date 
 Page 2 
  
 You may exercise your Option only to the extent that it is vested according to the Vesting
Schedule above. Once your Option is vested, you can exercise it by following the procedure set forth in the Attachment to this Notice Letter. To exercise your Option, you must pay the total Exercise Price for the number of shares that you are
exercising, as well as any required federal or state tax withholding. You also may be required to sign other documents at AE’s request. 
  
 Please note that the date shown above as the expiration date is the latest date on which the Option can be exercised assuming that you remain employed by AE. If your
employment with AE terminates before that date, your option may expire before the stated expiration date, as explained above in the box labeled “Exercise After Termination Of Employment With AE Or Any Subsidiary.” However, the Board of
Directors (or any applicable Board Committee) may, in its discretion, extend the time in which you will be able to exercise your option. 
  
 Generally, during your lifetime, only you may exercise the Option granted in this Notice Letter. That means you may not transfer your Option to anyone else. 

 
 The Option granted to you does not confer any right to continue your employment with AE
and has no effect on the right of AE or any of its subsidiaries to terminate your employment, with or without cause. 
  
 Along with this Notice Letter, we are also providing you with a copy of the Plan document, Information Statement for the Plan, and the 2003 Annual Report. Please review
all of the enclosed materials carefully and keep them and this Notice Letter with your important papers. 
  
 This Notice Letter is delivered to you in two counterparts. Please complete the acceptance in the space below provided in both of such counterparts, retain one for your file, and return the other to Scott Summits,
Manager, Compensation and Payroll, Human Resources, Greensburg Corporate Center; whereupon this Notice Letter shall constitute a legal agreement between you and the Company on all the terms provided above, and shall be binding upon and inure to the
benefit of any successor(s) of the Company and your heirs and personal representatives. 
  
 Sincerely, 
  
 Paul J. Evanson 
  
 Enclosures 
  
 AE Long Term Incentive Plan 
 Stock Option Information Statement 
 2003 Annual Report 
  

	
	 ACCEPTED and AGREED on this      day of
                    

	
	  

	 Signature

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