Document:

WEC-WE EX 10.2

Exhibit 10.2

WISCONSIN ENERGY CORPORATION 
RESTRICTED STOCK AWARD 
TERMS AND CONDITIONS
2015
		
	1.
	AWARD

Subject to the terms, conditions and restrictions provided in the Notice of Restricted Stock Award (the “Notice”), this Stock Award and the Plan, Wisconsin Energy Corporation (the “Company”) grants to the Employee a restricted stock award pursuant to the Wisconsin Energy Corporation Omnibus Stock Incentive Plan as amended and restated effective as of May 5, 2011 (the “Plan”).  The Stock Award covers a number of shares of the common stock of the Company, as set forth in the Notice, effective as of the date set forth in the Notice (the “Award Date”).  The shares granted under the Stock Award shall be referred to as “Restricted Stock.”  
		
	2.
	RESTRICTED PERIOD; VESTING

		
	(a)
	Restricted Period.  During the period beginning on the Award Date and ending on the day before the third anniversary of the Award Date (the “Restricted Period”), to the extent that all or any portion of the Stock Award is not vested, the Employee may not sell, transfer, pledge, assign, or otherwise alienate or hypothecate, voluntarily or involuntarily, shares covered by the non-vested portion of the Stock Award, except by will or the laws of descent and distribution.  As the Stock Award vests in accordance with subsection 2(b), the vested portion of the Stock Award shall be free of the foregoing restrictions.

		
	(b)
	Vesting.  As long as the Employee remains an employee of the Company or its subsidiaries, the Stock Award will vest over the Restricted Period in accordance with the following schedule:

	
		
	Years of Service from the Award Date
	% of Shares Becoming Vested      (rounded to the nearest whole share)

	Less than 1
	0%

	At least 1, but less than 2
	33.33%

	At least 2, but less than 3
	33.33%

	At least 3
	33.34%

For purposes of the foregoing, “Years of Service” shall commence as of the Award Date and mean years of service completed with the Company or a subsidiary.  No termination of employment shall be deemed to have occurred by reason of a transfer of the Employee between the Company and a subsidiary or between two subsidiaries.
		
	(c)
	Notwithstanding subsection 2(b), the following provisions shall govern:

		
	(i)   
	Termination due to Death or Disability; Occurrence of Change in Control.  If, during the Restricted Period, (A)the Employee’s employment with the 

	
			
	 
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Company and its subsidiaries terminates by reason of the Employee’s disability or death or (B) a Change in Control (as defined in paragraph 14 of the Plan), any unvested portion of the Stock Award shall become fully vested with respect to all shares covered by the Stock Award and all transfer restrictions shall lapse.  For purposes of the foregoing, “disability” shall mean separation from the service of the Company or a subsidiary because of such illness or injury as renders the Employee unable to perform the material duties of the Employee’s job.  
		
	(ii)
	Other Termination.  If the Employee’s employment terminates for any reason other than those described in paragraph (i) during the Restricted Period (excluding transfers as noted under subsection 2(b)), the Employee shall forfeit all shares covered by the unvested portion of the Stock Award (determined above in subsection 2(b)) as of the date of such termination, without any further obligation of the Company to the Employee and all rights of the Employee with respect to such Restricted Stock shall terminate.  Notwithstanding the foregoing, the Compensation Committee may, in its discretion, vest shares upon the Employee’s termination from employment.

		
	3.
	RIGHTS DURING RESTRICTED PERIOD

The Employee, during the Restricted Period, shall have the right to vote the Restricted Stock and receive any dividends on the Restricted Stock.  Any dividends declared on the Restricted Stock shall be paid to Employee through payroll.  Such dividends shall not be subject to the vesting schedule or any other restrictions as exist regarding the original shares of Restricted Stock. 
		
	4.
	CUSTODY

The Restricted Stock may be credited to the Employee in book entry form and shall be held in custody by the Company or an agent for the Company until the applicable restrictions have expired.  If any certificates are issued for shares of Restricted Stock during the Restricted Period, such certificates shall bear an appropriate legend as determined by the Company referring to the applicable terms, conditions and restrictions and the Employee shall deliver a signed, blank stock power to the Company relating thereto.  
		
	5.
	TAX WITHHOLDING

The Company shall be entitled to withhold the amount of any tax attributable to the Stock Award by withholding a portion of shares to defray all or a portion of any applicable taxes, withholding the required amounts from other compensation payable to the Employee, or such by such other method determined by the Committee (including, but not limited to, requiring a cash payment by Employee to the Company), in its discretion. 
		
	6.
	IMPACT ON OTHER BENEFITS

The value of the Restricted Stock awarded hereunder, either on the Award Date or at the time such shares become vested, shall not be includable as compensation or earnings for purposes of any other benefit plan or program offered by the Company or its subsidiaries.

	
			
	 
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	7.
	REGISTRATION

		
	(a)
	Any shares issued pursuant to the Stock Award hereunder shall be shares that are listed for trading on a national securities exchange and registered under the Securities Act of 1933, as amended.  The Company does not have an obligation to sell or issue shares that are not so registered.  In the event that shares are not effectively registered, but can be issued by virtue of an exemption under the Securities Act of 1933, as amended, the Company may issue shares to the Employee if the Employee represents that such shares are being acquired as an investment and not with a view to, or for sale in connection with, the distribution of any such shares.  Certificates for shares issued under the circumstances of the preceding sentence shall bear an appropriate legend reciting such representation.

		
	(b)
	In no event shall the Company be required to sell, issue or deliver shares pursuant to this Stock Award if, in the opinion of the Committee, the issuance thereof would constitute a violation by either the Employee or the Company of any provision of any law or regulation of any governmental authority or any securities exchange.  As a condition of any sale or issuance of shares deliverable under the Stock Award, the Company may place legends on the shares, issue stop-transfer orders and require such agreements or undertakings from the Employee as the Company may deem necessary or advisable to assure compliance with any such law or regulation.

		
	8.
	PLAN GOVERNS

Notwithstanding anything in this Stock Award, the terms of this Stock Award shall be subject to the provisions of the Plan, a copy of which is available electronically through the website of the broker servicing the Plan or may otherwise be obtained from a member of the Executive Compensation & Benefits staff.  This Award is subject to all interpretations, amendments, rules and regulations established by the Compensation Committee from time to time pursuant to the Plan.  In the event of an express conflict between any term, provision or condition of this Stock Award and those of the Plan, the terms, provisions or conditions of the Plan shall control.  Any term, condition or provision on which the Award is silent shall be governed and administered in accordance with the terms, conditions or provisions of the Plan.  
		
	9.
	NO EMPLOYMENT RIGHTS 

Nothing in this Stock Award shall confer upon the Employee the right to continue in the employ of the Company or any of its subsidiaries, or to interfere with or limit the right of the Company or of such subsidiary to terminate the Employee’s employment at any time.
		
	10.
	UNDERTAKING BY EMPLOYEE

The Employee hereby agrees to take whatever additional actions and execute whatever additional documents the Compensation Committee may, in its discretion, deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on the Employee pursuant to the express provisions of this Stock Award and the Plan.

	
			
	 
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	11.
	BINDING EFFECT

This Award shall be binding upon, and inure to the benefit of, the successors and assigns of the Company and upon persons who acquire the right to receive shares covered by the Stock Award hereunder by will or through the laws of descent and distribution.
		
	12.
	HEADINGS

Headings of the paragraphs contained in this Stock Award are inserted for convenience and reference and shall not be used in interpreting or construing the terms and provisions of the Award.
		
	13.
	ENTIRE AWARD; MODIFICATION

This Award and the Plan constitutes the entire agreement between the parties with respect to the terms and supersede all prior or written or oral negotiations, commitments, representations and agreements with respect thereto.  The terms and conditions set forth in this Stock Award may only be modified or amended in a writing, signed by both parties. 
		
	14.
	SEVERABILITY

In the event any one or more of the provisions of this Stock Award shall be held invalid, illegal or unenforceable in any respect in any jurisdiction, such provision or provisions shall be automatically deemed amended, but only to the extent necessary to render such provision or provisions valid, legal and enforceable in such jurisdiction, and the validity, legality and enforceability of the remaining provisions of this Stock Award shall not in any way be affected or impaired thereby.
	
			
	 
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	4WEC-WE EX 10.3

Exhibit 10.3

WISCONSIN ENERGY CORPORATION  
TERMS and CONDITIONS GOVERNING 
NON-QUALIFIED STOCK OPTION AWARD 
2015
		
	1.
	DEFINED TERMS

All capitalized terms used in this option and not otherwise defined herein are defined in the attached Appendix or in the Plan.
		
	2.
	OPTION GRANT

The Company grants to the Employee an option to purchase shares of common stock of the Company (the “Common Stock”), the amount of which is specified in the notice of the grant, at an option price also specified in the notice.  This option is not intended to qualify as an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”).
		
	3.
	VESTING OF OPTION

Except as otherwise provided herein, this option shall be exercisable only prior to the Expiration Date (as defined in paragraph 4), and then only as set forth in the following schedule:
	
		
	Years from Date of Option Grant
	% of Shares Exercisable

	Less than 3 
	0% 

	At least 3
	100%

Notwithstanding the foregoing, this option shall become immediately exercisable  upon the occurrence of any of the following events (the “Special Vesting Events”):
		
	(i)
	the termination of the Employee’s employment with the Company or a subsidiary by reason of Retirement, Disability or death, or, if such termination of employment described herein occurs prior to the six month anniversary of the date of option grant, the six month anniversary of the date of option grant; or 

		
	(ii)
	the occurrence of a Change in Control of the Company while the Employee is employed by the Company or a subsidiary.

Any unvested shares are immediately forfeited upon the Employee’s cessation of employment with the Company or a subsidiary prior to the occurrence of a Special Vesting Event.  However, the Committee may, in its discretion, vest options upon separation.
		
	4.
	TERM OF OPTION

All rights to exercise this option shall terminate on the Expiration Date which is the earliest of the following dates:

1

		
	(i)
	three months after the Employee’s termination of employment with the Company or a subsidiary prior to the occurrence of a Special Vesting Event, or

		
	(ii)
	ten years from the date of grant .

		
	5.
	METHOD OF EXERCISE

This option may be exercised by appropriate notice in writing delivered to the Corporate Secretary of the Company, or by any other method approved by the Committee.  The consideration to be paid for the shares to be issued upon exercise of the option, including the method of payment, shall be determined by the Committee.  Such consideration may consist entirely of cash or check or combination thereof or broker-assisted cashless exercise or such other consideration or method of payment for the issuance of shares, in all cases to the extent permitted by applicable law.  
		
	6.
	NON-TRANSFERABILITY; DEATH; DESIGNATED BENEFICIARY

This option is not transferable by the Employee otherwise than by will or the laws of descent and distribution, except for transfers to family members and family partnerships.  This option is exercisable during the Employee’s lifetime only by the Employee. 
If the Employee dies after termination of employment without any Special Vesting Event having occurred but during the option period and before the Expiration Date specified in paragraph 4 hereof, this option may be exercised, to the extent otherwise vested, in the manner described in paragraph 5 hereof, by the Employee’s “Designated Beneficiary” (defined below) or if none or if the Designated Beneficiary does not survive the Employee, by the Employee’s estate or the person to whom the option passes by will or the laws of descent and distribution, but only within a period of:
		
	(a)
	two years after the Employee’s death, or 

		
	(b)
	ten years from the date of grant, whichever period is shorter.

To the extent that this option may be exercisable after the death of the Employee (whether before or after termination of employment), this option may be exercised by the “Designated Beneficiary” of the Employee.  The “Designated Beneficiary” shall be the beneficiary or beneficiaries designated by the Employee in a writing filed with the Committee in such form and at such time as the Committee may require.  In the absence of a living Designated Beneficiary, any rights or benefits that would have been exercisable by or distributable to the Employee shall be exercised by or distributed to the legal representative of Employee’s estate or the person to whom the option passes by will or by the laws of descent and distribution.  If a Designated Beneficiary who has survived the Employee dies before exercise of all rights option or before complete distribution of benefits under this option, then any rights that would have been exercisable by the Designated Beneficiary shall be exercised by the legal representative of the estate of the Designated Beneficiary, and any benefits distributable to the Designated Beneficiary shall be distributed to the legal representative of the estate of the Designated Beneficiary.

	
			
	 
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	7.
	REGISTRATION

If at any time during the option period the Company shall be advised by its counsel that shares deliverable upon exercise of the option are required to be registered under the Securities Act of 1933 (“Act”) or any state securities laws, or that delivery of the shares must be accompanied or preceded by a prospectus meeting the requirements of that Act or such state securities laws, the Company will use its best efforts to effect the registration or provide the prospectus not later than a reasonable time following each exercise of this option, but delivery of shares by the Company may be deferred until the registration is effected or the prospectus is available.  The Employee shall have no interest in shares covered by this option until certificates for the shares are issued, or in lieu of certificates, shares are credited to the Employee’s account in the book-entry form.
		
	8.
	ADJUSTMENTS

If the Company shall at any time change the number of shares of its Common Stock without new consideration to the Company (such as by stock dividend, stock split or similar transaction), the total number of shares then remaining subject to purchase hereunder shall be changed in proportion to the change in issued shares and the option price per share shall be adjusted so that the total consideration payable to the Company upon the purchase of all shares not theretofore purchased shall not be changed.  If during the term of this option, the Common Stock of the Company shall be changed into another kind of stock or into securities of another corporation, cash, evidence of indebtedness, other property or any combination thereof (the “Acquisition Consideration”), whether as a result of reorganization, sale, merger, consolidation, or other similar transaction, the Committee shall cause adequate provision to be made whereby the Employee shall thereafter be entitled to receive upon the due exercise of this option the Acquisition Consideration the Employee would have been entitled to receive for Common Stock acquired through exercise of this option immediately prior to the effective date of such transaction.
		
	9.
	WITHHOLDING

The Company shall be entitled to satisfy any tax withholding obligations arising with respect to the exercise of this option in whole or in part by withholding a portion of shares to defray all or a portion of any applicable taxes, withholding the required amounts from other compensation payable to the Employee, or by such other method determined by the Committee (including, but not limited to, requiring a cash payment by Employee to the Company), in its discretion.
		
	10.
	IMPACT ON OTHER BENEFITS

The income attributable to the exercise of this option shall not be includable as compensation or earnings for purposes of any other benefit plan or program offered by the Company or its subsidiaries.
		
	11.
	PLAN GOVERNS

Notwithstanding anything in this option, the terms of this option shall be subject to the terms of the Plan, a copy of which may be obtained electronically through the website of the broker servicing 

	
			
	 
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the Plan or may otherwise be obtained a member of the Executive Compensation & Benefits staff, and this option is subject to all interpretations, amendments, rules and regulations established by the Committee from time to time pursuant to the Plan.

	
			
	 
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APPENDIX
This is an appendix to the Wisconsin Energy Corporation Terms and Conditions Governing an award of Non-Qualified Stock Options.
As used in the Terms & Conditions, the terminology set forth below shall have the following meanings:
		
	(a)
	“Cause” means:

		
	(i)
	the willful and continued failure of the Employee to substantially perform the Employee’s duties (other than a failure resulting from incapacity due to physical or mental illness), after a written demand for substantial performance is delivered to the Employee by the Board of Directors of the Company, the Compensation Committee or an elected officer of the Company which specifically identifies the manner in which the Board, the Committee or the elected officer believes that the Employee has not substantially performed the Employee’s duties, or

		
	(ii)
	the willful engaging by the Employee in illegal conduct or gross misconduct which is materially and demonstrably injurious to the Company.  However no act, or failure to act, on the Employee’s part shall be considered “willful” unless done, or omitted to be done, by the Employee not in good faith and without reasonable belief that the Employee’s action or omission was in the best interest of the Company.

		
	(b)
	“Disability” means separation from the service of the Company or a subsidiary because of such illness or injury as renders the Employee unable to perform the material duties of the Employee’s job.

		
	(c)
	“Retirement” means separation from the Service of the Company or a subsidiary either at or after attainment of age 55 and completion of at least ten years of service or at or after age 60.

	
			
	 
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