Document:

Amended and Restated American Water Works Executive Retirement Plan

  Exhibit 10.8 
  AMERICAN WATER WORKS COMPANY, INC. 
 EXECUTIVE RETIREMENT PLAN 
 (Effective January 1, 2005) 
 American Water Works Company, Inc. (the “Company”) has adopted on behalf of itself and its subsidiaries the following Executive Retirement Plan (the “Plan”) to (1) continue to provide Prior Plan (as defined in
paragraphs l(a) through l(d) below) benefits to a select group of management and highly compensated employees of the Company and its subsidiaries (defined as Prior Plan Participants in paragraph 2(n) below), in addition to those provided under the
Pension Plan for Employees of American Water Works Company, Inc. and Its Designated Subsidiaries (the “Pension Plan”), and (2) provide to all eligible Employees who are not Prior Plan Participants those benefits that such Employees
would receive under the Pension Plan but for the limitations imposed by sections 415 and 401(a)(17) of the Code (as defined in paragraph 2(e) below). 
 1. Effect and Effective Date. 
 This Plan is an amendment and restatement of, and replacement for:

 (a) the Supplemental Retirement Plan (the “SRP”) originally effective as of April 1, 1989 as amended from time to time
thereafter and amended and restated effective as of July 1, 1997; and 
 (b) the Supplemental Executive Retirement Plan (the
“SERP”) originally effective as of April 1, 1985, as amended from time to time thereafter and amended and restated July 1, 1997; and 
 (c) the St. Louis Water Company Supplemental Pension Plan, originally effective as of January 1, 1988, the Water Utility Service Co. Supplemental Pension Plan, originally effective as of January 1, 1990, the
Continental Water Company Supplemental Pension Plan, originally effective as of January 1, 1988, the Northwest Indiana Water Company Supplemental Pension Plan, the Long Island Water Corporation Supplemental Pension Plan, the Gary-Hobart Water
Corporation Supplemental Pension Plan, and the Northern Illinois Corporation Supplemental Pension Plan, originally effective as of January 1, 1988, as each have been amended from time to time (collectively, the “NEI Supplemental Pension
Plans”); and 
 (d) the Elizabethtown Water Company Supplemental Executive Retirement Plan (the “Elizabethtown SERP”)
originally effective as of August 1, 1995, and as amended from time to time thereafter. 
 The foregoing plans shall be referred to
collectively herein as the “Prior Plans.” This amendment and restatement of, and replacement for, the Prior Plans shall apply only to deferrals of compensation on or after January 1, 2005 and, except as otherwise provided herein, the
provisions of this amendment and restatement and replacement shall be effective as of 

 
January 1, 2005. Amounts considered “deferred” (under Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”) and the regulations issued thereunder) prior to January 1, 2005 shall continue to be subject to the terms of the Prior Plans as in effect prior to January 1, 2005. 
 2. Definitions. The terms used herein shall have the following meanings unless a different meaning is clearly required by the context: 

(a) “Affiliate” means: 
 (i) each entity included with the Company in a controlled group of corporations or trades or businesses as determined under Section 414(b) or Section 414(c) of the Code, or in an affiliated service group as determined under
Section 414(m) of the Code; or 
 (ii) any other organization required to be aggregated with the Company pursuant to regulations under
Section 414(o) of the Code. 
 (b) “Beneficiary” means the person designated by the Participant to receive the death
benefits provided under paragraph 9 hereof. 
 (c) “Board” means the Company’s Board of Directors. 
 (d) “Change in Control” means the occurrence after the Effective Date of one of the following: (i) the acquisition by a
“person” (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934 (the “Exchange Act”)) (other than persons who are shareholders of the Company on the Effective Date) of beneficial ownership
(within the meaning of Rule 13d-3 promulgated under the Exchange Act) of securities of the Company representing more than 50% of either (A) the total fair market value of the then outstanding securities of the Company or (B) the combined
voting power of the then outstanding voting securities of the Company, (ii) a sale of all or substantially all of the Company’s assets, (iii) a liquidation or dissolution of the Company, or (iv) a majority of the members of the
Board is replaced by directors whose appointment or election is not endorsed by a majority of the Board as constituted prior to the date of such appointment or election. 
 (e) “Code” means the Internal Revenue Code of 1986, as amended. A reference to any provision of the Code shall include reference to any successor provision thereof. 
 (f) “Committee” means the Company’s Pension-Benefits Committee, which is charged with administration of the Plan. 
 (g) “Effective Date” of this amendment, restatement and replacement is January 1, 2005. 
 (h) “Employee” means any individual who is employed by the Company or any of its subsidiaries. 
  

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 (i) “Final Average Earnings” means one of the following, each determined without regard
to the limits imposed on compensation under qualified retirement plans by Code Sections 415 and 401(a)(17): 
 (i) With respect to a Prior
Plan Participant in the SRP, the average of the Participant’s salary and Annual Incentive Bonus Plan (or any equivalent plan) awards (whether or not deferred) granted during the 60 consecutive months of the 120 months preceding his actual
Retirement that produce the highest average. An Annual Incentive Bonus Plan award will be considered granted in the year in which it is earned even though it is paid in the following year. 
 (ii) With respect to a Prior Plan Participant in the SERP, the average of the Participant’s salary and Annual Incentive Bonus Plan (or any
equivalent plan) awards (whether or not deferred) granted during those 36 consecutive months of the 120 months preceding his actual Retirement that produce the highest average. An Annual Incentive Bonus Plan award will be considered granted in the
year in which it is earned even though it is paid in the following year. 
 (iii) With respect to a Prior Plan Participant in the St. Louis
Water Company Supplemental Pension Plan, the Water Utility Service Co. Supplemental Pension Plan, the Continental Water Company Supplemental Pension Plan, the Northwest Indiana Water Company Supplemental Pension Plan, the Long Island Water
Corporation Supplemental Pension Plan, the Gary-Hobart Water Corporation Supplemental Pension Plan, or the Northern Illinois Corporation Supplemental Pension Plan, the average of the Salary of the Participant on the date that the Participant
Separates from Service and the Salary of the Participant on same date in each of the three preceding calendar years. 
 (iv) With respect to
a Prior Plan Participant in the Elizabethtown SERP, the average of the monthly “Earnings” (defined as W-2 Earnings as reported to the Internal Revenue Service, plus the unrestricted value (at the date of grant) of any restricted stock
granted in lieu of salary, and any amounts that would have been W-2 earnings but for the Prior Plan Participant’s elections under section 401(k)or section 125 of the Code) of the Participant during the 36 months immediately preceding the date
on which such Participant Separates from Service. 
 (j) “Normal Retirement Age” means the Participant’s attainment of
age 65; except that in the case of a Prior Plan Participant in the SERP (as defined in paragraph l(b)), Normal Retirement Age shall also mean the Participant’s attainment of age 62 and completion of 10 Years of Service. 
 (k) “Participant” means an Employee who has met the conditions for participation in paragraph 3. 
  

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 (l) “Pension Plan” means the Pension Plan for Employees of American Water Works Company,
Inc. and Its Designated Subsidiaries, as the same may be amended from time to time. 
 (m) “Plan Year” means the 12 month
period ending December 31. 
 (n) “Prior Plan Participant” means an Employee who was hired by the Company or one of its
subsidiaries before January 10, 2003 and was actively participating in a Prior Plan on January 10, 2003. 
 (o)
“Retirement” or “Retires” means a Participant’s Separation from Service on or after (i) reaching Normal Retirement Age, (ii) qualifying for an early retirement benefit under paragraph 5, but before reaching
Normal Retirement Age, or (iii) qualifying for a disability retirement benefit under paragraph 7. 
 (p) “Salary”
means, with respect to a Prior Plan Participant in the St. Louis Water Company Supplemental Pension Plan, the Water Utility Service Co. Supplemental Pension Plan, the Continental Water Company Supplemental Pension Plan, the Northwest Indiana Water
Company Supplemental Pension Plan, the Long Island Water Corporation Supplemental Pension Plan, the Gary-Hobart Water Corporation Supplemental Pension Plan, or the Northern Illinois Corporation Supplemental Pension Plan, the annual rate of
compensation paid to the Participant, exclusive of bonuses, stock options, stock appreciation rights and any employer contributions or payments to any other trust, fund, agreement or plan providing retirement, pension, profit sharing, health,
welfare, death, insurance, or similar benefits. 
 (q) “Separation from Service” means a Participant’s termination of
employment with the Company or any Affiliate that meets the requirements of a “separation from service” as defined under Section 409A of the Code and the regulations thereunder. 
 (r) “Social Security Wage Base” means the average of the amount considered “wages” under Section 3121(a)(l) of the Code
for the calendar year including the date as of which a benefit is to be calculated under the Plan and the preceding nine calendar years (four years for purposes of Section 4(b)(ii) only). 
 (s) “Specified Employee” means, if the stock of the Company or any Affiliate is publicly traded, the following: for any 12-month period
beginning on April 1 and ending on the following March 31, a Participant who, as of the preceding December 31, was (i) an officer of the Company (or any Affiliate) having annual compensation (as defined in Section 414(q)(4)
of the Code) greater than $130,000 (as adjusted under Section 416(i)(l) of the Code), (ii) a “five-percent owner” of the Company or any Affiliate (as defined in Section 416(i)(l)(B) of the Code), or (iii) a person
having annual compensation (as defined in Section 414(q)(4) of the Code) of more than $150,000 and who would be classified as a “five-percent owner” of the Company or any Affiliate under Section 416(i)(1)(B) of the Code if
“one percent” were substituted for “five percent” each time it appears in the definition of such term. 
  

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 (t) “Year of Service” means each year of service credited to the Participant under the
Pension Plan and each additional year of service (if any) credited to the Participant by action of the Board or pursuant to the terms of any supplemental agreement, employment agreement or other written agreement between the Company and a
Participant providing for additional service credit under this Plan; provided that in no event shall a Participant’s total Years of Service be less than the years of service credited to him under a Prior Plan as of the Effective Date.

 3. Participation. 
 (a)
Participants hired before January 10, 2003 and participating in Prior Plans. An Employee who was hired by the Company or a subsidiary before January 10, 2003 and was actively participating in a Prior Plan on that date, shall be a
Participant in this Plan. 
 (b) Participants hired on or before December 31, 2005. An Employee who was hired by the Company or a
subsidiary on or before December 31, 2005, and who is eligible to participate in the Pension Plan, shall be eligible to participate in the Plan. 
 4. Normal or Late Retirement Benefit. 
 (a) General. Subject to paragraph (b) hereof, the
retirement benefit (expressed as a monthly benefit) for a Participant who Retires at or after his Normal Retirement Age shall be calculated as follows: 
 (i) The benefit to which the Participant would be entitled under the Pension Plan calculated as if: 
 A.
amounts paid under the Annual Incentive Bonus Plan (or any equivalent plan) that have been deferred by the Participant and amounts that have been deferred by the Participant under the American Water Works Company, Inc. Deferred Compensation Plan
constitute “Earnings” under the Pension Plan for the year in which the amounts, but for the deferral election, would have been paid; and 
 B. the limitations imposed by Section 415 and Section 401(a)(17) of the Code, or the applicable provisions of any successor thereto, are not applied: 
 LESS 
 (ii) the Participant’s actual benefits payable under the Pension Plan. 
 (b) Minimum Benefit for Prior Plan Participants. Notwithstanding the foregoing paragraph (a), the normal retirement benefit under this Plan for
any Prior Plan Participant shall not be less than the applicable amount determined under subparagraphs (i) though (v), as follows: 
  

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 (i) SRP Minimum Benefit. The minimum normal retirement benefit for any Prior Plan Participant in
the SRP shall be equal to the sum of A through E, less F where: 
 A. is equal to 1.85% of his Final Average Earnings not in excess of
the Social Security Wage Base multiplied by 1.3333 times his Years of Service up to 15 years, 
 B. is equal to 2.1 % of his Final
Average Earnings in excess of the Social Security Wage Base multiplied by 1.3333 times his Years of Service upon to 15 years, 
 C. is equal
to 1.85% of his Final Average Earnings not in excess of the Social Security Wage Base multiplied by .5 times his Years of Service in excess of 15 years and up to 25 years, 
 D. is equal to 2.1% of his Final Average Earnings in excess of the Social Security Wage Base multiplied by .5 times his Years of Service in excess of 15
years and up to 25 years, 
 E. is equal to .7% of his Final Average Earnings multiplied by his Years of Service in excess of 25 years, and

 F. is the Participant’s actual benefits payable under the Pension Plan. 
 (ii) SERP Minimum Benefit. The minimum normal retirement benefit for any Prior Plan Participant in the SERP shall be equal to the sum of A
through C, less D where: 
 A. is equal to 1.5% of his Final Average Earnings not in excess of 50% of the Social Security Wage Base
multiplied by his Years of Service up to 25 years, 
 B. is equal to 2.2% of his Final Average Earnings in excess of 50% of the Social
Security Wage Base multiplied by his Years of Service upon to 25 years, 
 C. is equal to .7% of his Final Average Earnings multiplied by
his Years of Service in excess of 25 years, and 
 D. is the Participant’s actual benefits payable under the Pension Plan. 

(iii) St. Louis Water Company, Water Utility Service Co. and Continental Water Company Supplemental Pension Plans Minimum Benefit. The minimum
normal retirement benefit for any Prior Plan Participant in the St. Louis Water Company Supplemental Pension Plan, the Water Utility Service Co. Supplemental Pension Plan or the 

  

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Continental Water Company Supplemental Pension Plan, shall be equal to the “Calculated Percentage” of his Final Average Earnings, reduced by the
actual benefit payable under the Pension Plan. The Calculated Percentage shall be 60% reduced by .35% times the difference between 40 years and the Participant’s Years of Service. 
 (iv) Northwest Indiana Water Company, Long Island Water Corporation, Gary-Hobart Water Corporation, and Northern Illinois Corporation Supplemental
Pension Plans Minimum Benefit. The minimum normal retirement benefit for any Prior Plan Participant in the Northwest Indiana Water Company Supplemental Pension Plan, the Long Island Water Corporation Supplemental Pension Plan, the Gary-Hobart
Water Corporation Supplemental Pension Plan, or the Northern Illinois Corporation Supplemental Pension Plan, shall be equal to 50% of his Final Average Earnings, reduced by the actual benefit payable under the Pension Plan. 
 (v) Elizabethtown SERP Minimum Benefit. The minimum normal retirement benefit for any Prior Plan Participant in the Elizabethtown SERP shall be
equal to the product of (a) 60% of his Final Average Earnings and (b) a fraction (not to exceed one) the numerator of which is the number of Years of Service credited to the Participant as of the date on which benefit computation is made
and the denominator of which is 20, reduced by the actual benefit payable under the Pension Plan and further reduced by the benefits payable under any other defined benefit plans in which the executive has participated, including those of former
employers. 
 (c) In calculating the benefits under this Plan it shall be assumed that all benefits under the Pension Plan will be paid
(i) in the form of a single life annuity with no period certain and (ii) with respect to a married Participant who participated in the SERP, and whose benefit hereunder is determined under Section 4(b)(ii), in the form of a joint and
50% survivor annuity with no period certain. 
 (d) Effectiveness of Provisions. Paragraphs (a) and (b) hereof shall be
effective as of January 1, 2006. The amount of benefits accruing to Prior Plan Participants after the effective date of the Plan but prior to January 1, 2006 shall be determined in accordance with the terms of the applicable Prior Plan.

 5. Early Retirement. 
 (a) A Participant may elect early Retirement upon reaching his “Early Retirement Date” under the Pension Plan. 
 (b) The
early retirement benefit under this Plan shall be calculated in the same manner as the normal retirement benefit, taking into account only service and compensation to the Participant’s early Retirement date. 
 (c) Any benefit payable upon Retirement prior to the Participant’s Normal Retirement Age shall be reduced in accordance with the table of early
retirement factors 

  

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contained in the Pension Plan as in effect at the time of the Participant’s Retirement; except that the benefit of a Prior Plan Participant in the SERP
who Retires with Board approval prior to attaining age 62 and completing 10 Years of Service shall be unreduced. 
 6. Vested Benefit.

 (a) General. A vested benefit shall be provided to each Prior Plan Participant in accordance with the terms of the relevant Prior
Plan. In addition, a Participant who Separates from Service after that Participant has completed 5 Years of Service shall be entitled to a vested benefit. Such benefit shall be calculated in the same manner as the normal retirement benefit under
paragraph 4(a) or 4(b) above (as applicable), taking into account only service and compensation to the Participant’s Separation from Service date. The benefit payable under this paragraph 6(a) shall be payable to a Participant in accordance
with paragraph 8. 
 (b) Benefits for Inactive Participants: Any Prior Plan Participant who, after having accrued a benefit under one
of the Prior Plans, is designated ineligible under such Plan by the Committee shall be deemed an inactive Participant. If an inactive Participant meets the age and service requirements under the applicable Prior Plan, while an Employee, that
inactive Participant shall be entitled to receive a normal, early or disability retirement benefit under paragraphs 4, 5 or 7, respectively, provided the benefit shall be calculated taking into account only service and compensation to the date the
individual became an inactive Participant and shall be offset by the benefit payable at the inactive Participant’s actual retirement under the Pension Plan. 
 (c) Severance Credit. A Participant who becomes entitled to benefits under the Company’s Executive Severance Plan shall have his Years of Service under Section 6(a) calculated, solely for purpose of
determining vesting, by adding 12 months (18 months for the Company’s Chief Executive Officer) to his actual service. 
 7.
Disability Benefit. 
 Upon qualifying for a disability retirement benefit under the Pension Plan, a Participant shall be entitled to a
disability retirement benefit hereunder, in an amount calculated in the same manner as the normal retirement benefit under paragraph 4(a) or 4(b)(i) or (ii) above (as applicable), but based on service and compensation to the date of disability
and with an offset, calculated in the manner described in paragraph 4, for any disability benefits payable under the Pension Plan. 
 8.
Form and Time of Benefit Payment. 
 (a) General. Subject to paragraphs (b), (c) and (d) hereof, (i) the benefit
to which a Participant is entitled pursuant to paragraphs 4, 5, or 7 hereof, as applicable, shall be paid in a single lump sum within 90 days following such Participant’s Retirement, calculated as the actuarial equivalent of such benefit
expressed as an annuity for the life of the Participant with no period certain, and (ii) the benefit to which a Participant is entitled pursuant to paragraph 6 

  

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hereof shall be paid in a single lump sum within 90 days following such Participant’s Separation from Service, calculated as the actuarial equivalent of
such benefit expressed as an annuity for the life of the Participant with no period certain, reduced to reflect commencement prior to his Normal Retirement Age. Actuarial equivalence shall be determined using the same actuarial methods and factors
as are applied under the Pension Plan. 
 (b) Elizabethtown SERP Benefits. Notwithstanding paragraph (a) above, the benefit of a
Prior Plan Participant in the Elizabethtown SERP shall be calculated and paid as provided in paragraph (a) above, except that such benefit shall be calculated as the actuarial equivalent of a 15 year certain annuity. 
 (c) SERP Benefits. Notwithstanding paragraph (a) above, the benefit of a Prior Plan Participant in the SERP shall be calculated and paid as
provided in paragraph (a) above, except that such benefit shall be calculated as the actuarial equivalent of (i) an annuity for the life of the Participant with no period certain plus (ii) if the Participant is married at the time
payment is made (or would be made absent the application of paragraph (d) below), an annuity commencing on the Participant’s death for the life of the Participant’s surviving spouse, with no period certain, and with monthly payments
equal to 50% of the monthly annuity amount described in clause (i) of this paragraph. 
 (d) Delayed Payment to Certain
Participants. Notwithstanding paragraphs (a), (b) and (c) above, if (i) the stock of the Company or any Affiliate is publicly traded at the time of a Participant’s Retirement or other Separation from Service, and
(ii) the Participant is a Specified Employee at the time of such Retirement or other Separation from Service, then such Participant’s benefit (unless such Participant is entitled to a disability retirement benefit), shall not be paid
before six months after the date of Separation from Service (or, if earlier, the Participant’s death); provided that in no event shall payment be made before the date on which payment would otherwise be made under paragraph (a). 
 (e) Acceleration of Payment. Notwithstanding the time of payment set forth in paragraph (a) above, payment of a Participant’s benefit
hereunder shall be made: 
 (i) Domestic Relations Orders. to the extent necessary to comply with a domestic relations order (as
defined in Section 414(p)(l)(B) of the Code) that meets the requirements of the Company’s domestic relations order procedures applicable to non-qualified plans (if any); 
 (ii) Divestitures. to the extent necessary to comply with a certificate of divestiture (as defined in section 1043(b)(2) of the Code);

 (iii) to the extent necessary to comply with federal, state and local tax withholding requirements in accordance with regulations under
Section 409A of the Code. 
  

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 9. Death Benefits Before Retirement. 
 (a) Participants with 10 Years of Service. Upon the death, while an active Employee, of a Participant who has been credited under this Plan with at
least 10 Years of Service, the Participant’s Beneficiary if then surviving shall be entitled to a death benefit calculated as the excess of (i) the benefit computed as described in paragraph 4 above, based upon the Participant’s Years
of Service and compensation to the date of death and the assumption that the Participant had Retired on the day before the Participant’s death, but converted using the actuarial factors specified in the Pension Plan to a joint and 100% survivor
benefit over (ii) the death benefits payable under the Pension Plan. If the Participant had not attained age 55 on the date of the Participant’s death, the Participant’s age shall be considered to have been 55 and the
Beneficiary’s age shall be adjusted to bear the same relationship to age 55 as their actual attained ages bore to each other. The amount calculated pursuant to this paragraph shall be converted into a single lump sum using the actuarial factors
specified in the Pension Plan and paid within 90 days following the Participant’s death. 
 (b) Participants with Five Years of
Service. Upon the death, while an active Employee, of a Participant who has been credited under this Plan with more than 5 but fewer than 10 Years of Service, such Participant’s Beneficiary if then surviving shall be entitled to a death
benefit calculated as the excess of (i) the benefit computed as described in paragraph 4 above, based upon the Participant’s Years of Service and compensation to the date of death and the assumption that the Participant had Retired on the
day before the Participant’s death, but converted to a joint and 50% survivor benefit and reduced for early commencement as necessary in accordance with the actuarial factors in the Pension Plan over (ii) the death benefits payable under
the Pension Plan. If the Participant had not attained age 55 on the date of death, the Participant’s age shall be considered to have been 55 and the Beneficiary’s age shall be adjusted to bear the same relationship to age 55 as their
actual attained ages bore to each other. The amount calculated pursuant to this paragraph shall be converted into a single lump sum using the actuarial factors specified in the Pension Plan and paid within 90 days following the Participant’s
death. 
 (c) Prior Plan Participants in the Elizabethtown SERP. Notwithstanding the requirements of paragraphs (a) and
(b) above, upon the death, while an active Employee, of a Prior Plan Participant in the Elizabethtown SERP who is not eligible to Retire, such Participant’s Beneficiary shall be entitled to a death benefit equal to twice the
Participant’s annual “Earnings” (as defined in the Pension Plan) at the time of the Participant’s death. The amount calculated pursuant to this paragraph shall be paid in a single lump sum within 90 days following the
Participant’s death. 
 (d) Terminated Participants. If a Participant dies after his Retirement but before benefits are paid
pursuant to paragraph 8 hereof (or would be paid absent the application of paragraph 8(d)), such Participant’s Beneficiary if then surviving shall be entitled to a death benefit calculated as the excess of (i) the benefit computed as
described in paragraph 4 above, based upon the Participant’s Years of Service and compensation to the date of death and the 

  

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assumption that the Participant had Retired on the day before the Participant’s death, but converted using the actuarial factors specified in the
Pension Plan to a joint and 50% survivor benefit over (ii) the death benefits payable under the Pension Plan, based on the attained ages of the Participant and the Beneficiary. The amount calculated pursuant to this paragraph shall be converted
into a single lump sum using the actuarial factors specified in the Pension Plan and paid within 90 days following the Participant’s death. If a Participant Separates from Service before becoming eligible to Retire and dies before becoming
eligible to receive or begin receiving a benefit pursuant to paragraph 8 hereof (or would be paid absent the application of paragraph 8(d)), no death benefits shall be payable under this Plan. 
 (e) Other Participants. Except as provided in paragraphs (a), (b), (c) and (d) above, no death benefits shall be payable under this
Plan. 
 10. Plan Administration. 
 (a) General. The Plan shall be administered by the Committee. Subject to the Board’s authority, the Committee shall have sole discretion to construe and interpret the provisions of the Plan and to determine finally all questions
concerning benefit entitlements, including the power to construe and determine disputed or doubtful terms. To the maximum extent permissible under law, the determinations of the Committee on all such matters shall be final and binding upon all
persons involved. The Committee may delegate to officers or managers of the Company or any subsidiary, or committees thereof, the authority, subject to such terms as the Committee shall determine, (i) to perform administrative functions, and
(ii) to perform such other functions of the Committee as the Committee may determine, to the extent permitted under applicable law. The Committee may appoint agents to assist it in administering the Plan. 
 (b) Records and Reports. The Committee or its delegate shall keep a record of its proceedings and actions and shall maintain all books of account,
records, and other data as shall be necessary for the proper administration of the Plan. Such records shall contain all relevant data pertaining to individual Participants and their rights under the Plan. The Committee or its appointed delegate
shall have the duty to carry into effect all rights or benefits provided hereunder to the extent assets of the Company are properly available therefore. 
 (c) Payment of Expenses. The Company shall pay all expenses of administering the Plan. Such expenses shall include any expenses incident to the functioning of the Committee or its delegate. 
 (d) Indemnification of Liability. The Company shall indemnify the members of the Committee and any employee of the Company to whom the Committee
may delegate its duties under the Plan, against any and all claims, losses, damages, expenses, and liabilities arising from the responsibilities in connection with the Plan, unless the same is determined to be due to gross negligence or willful
misconduct. 
  

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 11. Claims Procedures. The Committee shall administer a claims procedure as follows: 

(a) Initial Claim. A Participant or beneficiary who believes himself entitled to benefits hereunder (the “Claimant”), or the
Claimant’s authorized representative acting on behalf of such Claimant, may make a claim for those benefits by submitting a written notification of his claim of right to such benefits. Such notification must be on the form and in accordance
with the procedures established by the Committee. 
 (b) Procedure for Review. The Committee shall establish administrative processes
and safeguards to ensure that all claims for benefits are reviewed in accordance with the Plan document and that, where appropriate, Plan provisions have been applied consistently to similarly situated Claimants. Any notification to a Claimant
required hereunder may be provided in writing or by electronic media. A Participant or beneficiary may designate another individual to act as his authorized representative with respect to a claim for benefits under the Plan by providing a written
notice of such authorization to the Committee. Such designation must provide reasonable detail regarding the identity of the authorized representative. A Participant or beneficiary may have only one authorized representative at any time. 

(c) Claim Denial Procedure. If a claim is wholly or partially denied, the Committee shall notify the Claimant within a reasonable period of
time, but not later than 90 days after receipt of the claim, unless the Committee determines that special circumstances require an extension of time for processing the claim. If the Committee determines that an extension of time for processing is
required, written notice of the extension shall be furnished to the Claimant prior to the termination of the initial 90-day period. In no event shall such extension exceed a period of 180 days from receipt of the claim. The extension notice shall
indicate: (i) the special circumstances necessitating the extension and (ii) the date by which the Committee expects to render a benefit determination. A benefit denial notice shall be written in a manner calculated to be understood by the
Claimant and shall set forth: (i) the specific reason or reasons for the denial, (ii) the specific reference to the Plan provisions on which the denial is based, (iii) a description of any additional material or information necessary
for the Claimant to perfect the claim, with reasons therefore, and (iv) the procedure for reviewing the denial of the claim and the time limits applicable to such procedures, including a statement of the Claimant’s right to bring a legal
action following an adverse benefit determination on review. 
 (d) Appeal Procedure. In the case of an adverse benefit determination,
the Claimant or his representative shall have the opportunity to appeal to the Board of Directors for review thereof by requesting such review in writing to the Committee within 60 days of receipt of notification of the denial. Failure to submit a
proper application for appeal within such 60 day period will cause such claim to be permanently denied. The Claimant or his representative shall be provided, upon request and free of charge, reasonable access to, and copies of, all documents,
records and other information relevant to the claim. The Claimant or his representative shall also be provided the opportunity to submit written comments, documents, records and other information relating to the claim for benefits. The Committee
shall review the appeal taking into 

  

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account all comments, documents, records and other information submitted by the Claimant or his representative relating to the claim, without regard to
whether such information was submitted or considered in the initial benefit determination. 
 (e) Decision on Appeal. The Committee
shall notify a Claimant of its decision on appeal within a reasonable period of time, but not later than 60 days after receipt of the Claimant’s request for review, unless the Committee determines that special circumstances require an extension
of time for processing the appeal. If the Committee determines that an extension of time for processing is required, written notice of the extension shall be furnished to the Claimant prior to the termination of the initial 60-day period. In no
event shall such extension exceed a period of 60 days from the end of the initial period. The extension notice shall indicate: (i) the special circumstances necessitating the extension and (ii) the date by which the Committee expects to
render a benefit determination. An adverse benefit decision on appeal shall be written in a manner calculated to be understood by the Claimant and shall set forth: (i) the specific reason or reasons for the adverse determination, (ii) the
specific reference to the Plan provisions on which the denial is based, (iii) a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records, and other
information relevant to the Claimant’s claim, and (iv) a statement of the Claimant’s right to bring a legal action. 
 (f)
Litigation. In order to operate and administer the claims procedure in a timely and efficient manner, any Claimant whose appeal with respect to a claim for benefits has been denied, and who desires to commence a legal action with respect to
such claim, must commence such action in a court of competent jurisdiction within 90 days of receipt of notification of such denial. Failure to file such action by the prescribed time will forever bar the commencement of such actions. 
 12. Funding of Plan. This Plan is an unfunded arrangement. The right of any Participant or beneficiary to receive future payments under the
provisions of the Plan shall be an unsecured claim against the general assets of the Company. Any trust, and any other fund, account, contract or arrangement that the Company chooses to establish for the future payment of benefits under this Plan to
a Participant or beneficiary shall remain part of the Company’s general assets and no person claiming payments under the Plan shall have any right, title or interest in or to any such trust, fund, account, contract or arrangement. 

13. Construction. Whenever any gender is used herein, it is intended also to cover the other gender where appropriate, and wherever the
singular is used, it shall be interpreted as including the plural. 
 14. Anti-Assignment/Anti-Alienation of Benefits and Payments.
Except as otherwise specifically provided herein, to the extent permitted by law, payments to and benefits under the Plan shall not be assignable, since they are primarily for the support and maintenance of the Participant after Retirement. To the
extent permitted by law, such payments and benefits shall not be subject to attachment by creditors of, or through legal processes against, any Participant or beneficiary. 
  

 - 13 - 

 15. No Right to Employment. Participation in the Plan shall not give any Employee the right to be
retained in the service of the Company or any subsidiary or affiliate thereof. 
 16. Incapacity. If any person entitled to receive
any benefits hereunder is a minor, or is deemed by the Company or is adjudged to be legally incapable of giving a valid receipt and discharge for such benefits, they will be paid to the duly appointed guardian, custodian or committee of such minor
or incompetent, or they maybe paid to such persons who the Company believes are caring for or supporting such minor or incompetent. 
 17.
Distribution in Event of Taxation. If for any reason all or any portion of a Participant’s benefit under the Plan becomes taxable due to a failure to meet the requirements of Section 409A of the Code and the regulations thereunder,
the Company may authorize the distribution of the amount permitted by Section 409A of the Code and the regulations thereunder. 
  18. Amendment or Termination. The Board of Directors of the Company shall have the power to amend, suspend or terminate this Plan at any time, provided that no such amendment, suspension or termination shall, except as required by
applicable law, reduce the benefit accrued by any Participant hereunder, or under any of the Prior Plans, determined in each case as of the day immediately preceding the date of such amendment, suspension or termination. In the event of a Plan
termination, benefits accrued at the time of such termination shall be paid in accordance with paragraph 8, provided that the Company may accelerate payments to the extent permitted under Section 409A of the Code. 
  19. Effect of a Change in Control. The Plan shall be unaffected by the occurrence of a Change in Control, except that in such event, Board may in
its discretion provide for the full vesting of benefits hereunder. 
 To record this
amendment and restatement of this Plan, American Water Works Company, Inc. has caused this Plan to be executed, by its appropriate officers on this 1st day
of March, 2007. 
  

			
	 AMERICAN WATER WORKS COMPANY, INC.

		
	 By:
	 	 /s/ Donald L. Correll

		 	Donald L. Correll
		 	President and CEO

  

			
	 Attest:
	 	 /s/ George W. Patrick

		 	George W. Patrick
		 	General Counsel and Secretary

  

 - 14 -Amended and Restated American Water Works Deferred Compensation Plan

 Exhibit 10.9 
 AMERICAN WATER WORKS COMPANY, INC. 
 DEFERRED COMPENSATION PLAN 
 (As amended and restated effective January 1, 2001) 

 Table of Contents 
  

					
	 	 	 Page

	 ARTICLE I      INTRODUCTION
	 	1
	 1.1.
	  	Name	 	1
	 1.2.
	  	Effective Date	 	1
	 1.3.
	  	Employers	 	1
	 1.4.
	  	Purpose	 	1
		
	 ARTICLE II     DEFINITIONS
	 	1
	 2.1.
	  	“Administrator”	 	1
	 2.2.
	  	“Annual Incentive Plan”	 	1
	 2.3.
	  	“Beneficiary”	 	1
	 2.4.
	  	“Board”	 	2
	 2.5.
	  	“Change in Control”	 	2
	 2.6.
	  	“Committee”	 	2
	 2.7.
	  	“Deferred Compensation Account”	 	2
	 2.8.
	  	“Deferred Compensation Agreement”	 	2
	 2.9.
	  	“Disability”	 	2
	 2.10.
	  	“Elective Deferred Compensation”	 	2
	 2.11.
	  	“Eligible Employee”	 	2
	 2.12.
	  	“Participant”	 	2
	 2.13.
	  	“Plan Year”	 	3
	 2.14.
	  	“Retirement”	 	3
	 2.15.
	  	“Stock”	 	3
	 2.16.
	  	“Stock Equivalent Unit”	 	3
		
	 ARTICLE III    PARTICIPATION BY ELIGIBLE EMPLOYEES
	 	3
	 3.1.
	  	Participation	 	3
	 3.2.
	  	Continuity of Participation	 	3
	 3.3.
	  	Immediate Cash-Out of Ineligible Employee	 	3
		
	 ARTICLE IV    DEFERRALS AND DEFERRED COMPENSATION ACCOUNTS
	 	4
	 4.1.
	  	Compensation Eligible for Deferral	 	4
	 4.2.
	  	Irrevocability of Deferral Elections	 	4
	 4.3.
	  	Date of Election	 	4
	 4.4.
	  	Establishment of Deferred Compensation Accounts	 	5
	 4.5.
	  	Hypothetical Investment Vehicles	 	5
	 4.6.
	  	Allocation and Reallocation of Hypothetical Investments	 	5
	 4.7.
	  	Dividend Equivalents	 	6
	 4.8.
	  	Restrictions on Participant Direction	 	  6

 Table of Contents 
  

					
	 	 	 Page

	ARTICLE V     DISTRIBUTIONS	 	7
	5.1.	  	Election of Distribution Date	 	7
	5.2.	  	Distribution of Mandatory Deferrals Not Elected To Be Extended	 	7
	5.3.	  	Method of Payment	 	7
	5.4.	  	Special Election for Early Distribution	 	7
	5.5.	  	Distributions on Death	 	8
	5.6.	  	Valuation of Cash Distributions	 	8
	5.7.	  	Financial Emergency and Other Payments	 	8
		
	ARTICLE VI    FUNDING AND PARTICIPANT’S INTEREST	 	8
	6.1.	  	Deferred Compensation Plan Unfunded	 	8
	6.2.	  	Participant’s Interest in Plan	 	9
		
	ARTICLE VII  ADMINISTRATION AND INTERPRETATION	 	9
	7.1.	  	Administration	 	9
	7.2.	  	Interpretation	 	9
	7.3.	  	Records and Reports	 	10
	7.4.	  	Payment of Expenses	 	10
	7.5.	  	Indemnification for Liability	 	11
	7.6.	  	Claims Procedure	 	11
	7.7.	  	Review Procedure	 	11
		
	ARTICLE VIII  AMENDMENT AND TERMINATION	 	12
	8.1.	  	Amendment and Termination	 	12
		
	ARTICLE IX    MISCELLANEOUS PROVISIONS	 	12
	9.1.	  	Right of Employers to Take Employment Actions	 	12
	9.2.	  	Alienation or Assignment of Benefits	 	13
	9.3.  	  	Right to Withhold	 	13
	9.4.	  	Construction	 	13
	9.5.	  	Headings	 	13
	9.6.	  	Number and Gender	 	13

 ARTICLE I  
 INTRODUCTION 
 1.1. Name. The name of this plan is the American Water Works Company, Inc.
Deferred Compensation Plan (“Deferred Compensation Plan”). 
 1.2. Effective Date. The effective date of this Deferred
Compensation Plan is January 1, 1996. 
 1.3. Employers. American Water Works Company, Inc. (“American Water Works”),
and each subsidiary or affiliate of American Water Works that employs one or more Eligible Employees who have become Participants in accordance with Article III, shall each be an “Employer” under this Deferred Compensation Plan.

 1.4. Purpose. This Deferred Compensation Plan is established effective January 1, 1996 by American Water Works for the purpose
of providing deferred compensation benefits for a select group of management or highly compensated employees of the Employers. 
 ARTICLE II

 DEFINITIONS 
 Whenever
the following initially capitalized words and phrases are used in this Deferred Compensation Plan, they shall have the meanings specified below unless the context clearly indicates to the contrary: 
 2.1. “Administrator” shall mean the Retirement Committee of American Water Works Company, Inc., or its delegate. 
 2.2. “Annual Incentive Plan” shall mean American Water Works Company, Inc.’s Annual Incentive Plan, effective January 1, 1996.

 2.3. “Beneficiary” shall mean such person or legal entity as may be designated by a Participant under Section 5.5 to
receive benefits hereunder after such Participant’s death. 
  

 -1- 

 2.4. “Board” shall mean the Board of Directors of American Water Works Company, Inc.

 2.5. “Change in Control” shall have the meaning given to such term in the American Water Works Company, Inc. 2000 Stock
Award and Incentive Plan. 
 2.6. “Committee” shall mean the Compensation and Management Development Committee of the Board.

 2.7. “Deferred Compensation Account” shall mean the account or subaccount established and maintained by the Administrator
for specified deferrals by a Participant, as described in Article IV of this Deferred Compensation Plan. Deferred Compensation Accounts shall be maintained solely as bookkeeping entries to evidence unfunded obligations of American Water Works.

 2.8. “Deferred Compensation Agreement” shall mean a document (or documents) as made available from time to time by the
Administrator, whereby an Eligible Employee enrolls as a Participant and elects to defer compensation pursuant to Article IV of this Deferred Compensation Plan. 
 2.9. “Disability” shall mean a physical or mental impairment of sufficient severity such that a Participant is eligible for benefits under the long-term disability provisions of his Employer’s
benefit plans. 
 2.10. “Elective Deferred Compensation” shall mean that portion of the Participant’s Compensation
which the Participant elects to defer pursuant to Article IV of this Deferred Compensation Plan in accordance with the Deferred Compensation Agreement. 
 2.11. “Eligible Employee” shall mean an individual employed by an Employer who is a member of a select group of management or highly compensated employees participating in the Annual Incentive Plan.

 2.12. “Participant” shall mean an Eligible Employee who has amounts standing to his credit under a Deferred Compensation
Account. 
  

 -2- 

 2.13. “Plan Year” shall mean the calendar year. 
 2.14. “Retirement” shall mean a Participant’s voluntary termination of employment at or after the date on which he is eligible
promptly thereafter to commence receipt of retirement benefits under the Pension Plan for Employees of American Water Works Company, Inc. and Its Designated Subsidiaries or any supplemental retirement plan maintained by American Water Works or any
successor plan thereto. 
 2.15. “Stock” shall mean American Water Works Company, Inc. common stock, or any other equity
securities of American Water Works designated by the Administrator. 
 2.16. “Stock Equivalent Unit” shall mean a
bookkeeping entry representing a hypothetical investment in Stock. 
 ARTICLE III 
 PARTICIPATION BY ELIGIBLE EMPLOYEES 
 3.1. Participation. Participation
in this Deferred Compensation Plan is limited to Eligible Employees. An Eligible Employee shall participate in this Deferred Compensation Plan as determined by the Administrator in its sole discretion; provided, however, that all executive officers
of American Water Works shall automatically be considered Eligible Employees. 
 3.2. Continuity of Participation. A Participant who
separates from service with all of the Employers will cease active participation hereunder. However, the separation from service of an Eligible Employee with one Employer will not interrupt the continuity of his active participation if, concurrently
with or immediately after such separation, he is employed by one or more of the other Employers. 
 3.3. Immediate Cash-Out of Ineligible
Employee. This Deferred Compensation Plan is intended to be an unfunded “top-hat” plan, maintained primarily for the purposes of providing deferred compensation for a select group of management or highly compensated employees.
Accordingly, if the Administrator determines that any Participant does not qualify as a member of the select group, one hundred percent (100%) of such Participant’s Deferred Compensation Account shall be paid to the Participant immediately.

  

 -3- 

 ARTICLE IV 
 DEFERRALS AND DEFERRED COMPENSATION ACCOUNTS 
 4.1. Compensation Eligible for Deferral. To the
extent authorized by the Committee, a Participant may elect to defer compensation or awards which may be in the form of cash, Stock, Stock-denominated awards or other property to be received from an Employer, including salary, annual bonus awards,
long-term awards, shares issuable on stock option exercise and compensation payable under other plans and programs, employment agreements or other arrangements, or otherwise, as may be provided under the terms of such plans, programs and
arrangements or as designated by the Administrator. The Committee may impose limitations on the amounts permitted to be deferred and other terms and conditions on deferrals under the Deferred Compensation Plan. Any such limitations, and other terms
and conditions of deferral, shall be set forth in the rules relating to the Deferred Compensation Plan or election forms, other forms, or instructions published by or at the direction of the Administrator. The Committee may permit awards and other
amounts to be treated as deferrals under the Deferred Compensation Plan, including deferrals that may be mandatory as determined by the Committee in its sole discretion or under the terms of another plan or arrangement of an Employer, for
administrative convenience or otherwise to serve the purposes of the Deferred Compensation Plan and such other plan or arrangement. 
 4.2.
Irrevocability of Deferral Elections. Once a Deferred Compensation Agreement, properly completed, is received by the Administrator, the elections of the Participant shall be irrevocable; provided, however, that the Administrator may, in its
discretion, permit a Participant to elect a further deferral of amounts credited to a Deferred Compensation Account by filing a later election form; provided, further, that, unless otherwise approved by the Administrator, any election to further
defer amounts credited to a Deferred Compensation Account must be made at least six months prior to the date such amounts would otherwise be payable. 
 4.3. Date of Election. An election to defer compensation or awards hereunder must be received by the Administrator prior to the date specified by the Administrator. Under no circumstances may a Participant
defer compensation or awards if the Participant has, at the time of deferral, a legally enforceable right to current receipt of such compensation or awards. 
  

 -4- 

 4.4. Establishment of Deferred Compensation Accounts. One or more Deferred Compensation Accounts
will be established for each Participant, as determined by the Administrator. The amount of compensation or awards deferred with respect to each Deferred Compensation Account will be credited to such Account as of the date on which such amounts
would have been paid to the Participant but for the Participant’s election to defer receipt hereunder, unless otherwise determined by the Administrator. With respect to any fractional shares of Stock or Stock-denominated awards, the
Administrator, in its sole discretion, shall pay such fractional shares to the Participant in cash, credit the Deferred Compensation Account with cash in lieu of depositing fractional shares into the Deferred Compensation Account, or credit the
Deferred Compensation Account with a fraction of a share calculated to at least three decimal places. Unless otherwise determined by the Administrator, amounts credited to a Deferred Compensation Account shall be deemed invested in a hypothetical
investment as of the date of deferral. The amounts of hypothetical income and appreciation and depreciation in the value of such Account will be credited and debited to, or otherwise reflected in, such Account from time to time. 
 4.5. Hypothetical Investment Vehicles. Subject to the provisions of Sections 4.6 and 4.8, amounts credited to a Deferred Compensation Account
shall be deemed to be invested, at the Participant’s direction, in one or more investment vehicles as may be specified from time to time by the Administrator. The Administrator may change or discontinue any hypothetical investment vehicle
available under the Deferred Compensation Plan in its discretion; provided, however, that each affected Participant shall be given the opportunity, without limiting or otherwise impairing any other right of such Participant regarding changes in
investment directions, to redirect the allocation of his Deferred Compensation Account deemed invested in the discontinued investment vehicle among the other hypothetical investment vehicles, including any replacement vehicle. 
 4.6. Allocation and Reallocation of Hypothetical Investments. A Participant may allocate amounts credited to his Deferred Compensation Account to
one or more of the hypothetical investment vehicles authorized under the Deferred Compensation Plan. Subject to the rules established by the Administrator, a Participant may reallocate amounts credited to his Deferred Compensation Account to one or
more of such hypothetical investment vehicles as of the next day following the filing of the Participant’s election to reallocate amounts credited to his Deferred Compensation Account. The Administrator may, in its discretion, restrict
allocation into or reallocation by specified Participants into or out of specified investment vehicles or specify minimum or maximum amounts that may be allocated or reallocated by Participants. 
  

 -5- 

 4.7. Dividend Equivalents. Dividend equivalents will be credited on Stock Equivalent Units
credited to a Participant’s Deferred Compensation Account as follows: 
 (a) Cash and Non-Stock Dividends. If
American Water Works declares and pays a dividend on Stock in the form of cash or property other than shares of Stock, then a number of additional Stock Equivalent Units shall be credited to a Participant’s Deferred Compensation Account as of
the payment date for such dividend equal to (i) the number of Stock Equivalent Units credited to the Deferred Compensation Account as of the record date for such dividend, multiplied by (ii) the amount of cash plus the fair market value of
any property other than shares actually paid as a dividend on each share at such payment date, divided by (iii) the closing market price of a share of Stock at such payment date as published in The Wall Street Journal report of New York Stock
Exchange Composite Transactions. 
 (b) Stock Dividends and Splits. If American Water Works declares and pays a
dividend on Stock in the form of additional shares of Stock, or there occurs a forward split of Stock, then a number of additional Stock Equivalent Units shall be credited to the Participant’s Deferred Compensation Account as of the payment
date for such dividend or forward Stock split equal to (i) the number of Stock Equivalent Units credited to the Deferred Compensation Account as of the record date for such dividend or split, multiplied by (ii) the number of additional
shares actually paid as a dividend or issued in such split in respect of each share of Stock. 
 4.8. Restrictions on Participant
Direction. The provisions of Sections 4.5 and 4.6 notwithstanding, the Administrator may restrict or prohibit reallocations of amounts deemed invested in specified investment vehicles, and subject such amounts to a risk of forfeiture and other
restrictions, in order to conform to restrictions applicable to Stock, a Stock-denominated award, or any other award or amount deferred under the Deferred Compensation Plan and resulting in such deemed investment, to comply with any applicable law
or regulation, or for such other purpose as the Administrator may determine is not inconsistent with the Deferred Compensation Plan. Notwithstanding any other provision of the Deferred Compensation Plan to the contrary, deferrals of all
Stock-denominated awards under the American Water Works Company, Inc. Long-Term Performance-Based Incentive Plan shall be credited to the Participant’s Deferred Compensation Account in the form of Stock Equivalent Units and may not be
reallocated or deemed reinvested in any other investment vehicle. 
  

 -6- 

 ARTICLE V 
 DISTRIBUTIONS 
 5.1. Election of Distribution Date. At the time a Participant makes an
election to defer compensation under Article IV, such Participant shall also specify in writing in the Deferred Compensation Agreement the date or event on which the payment of the Participant’s Deferred Compensation Account shall be made.
Payments in settlement of a Deferred Compensation Account shall be made as soon as practicable after the date or dates (including upon the occurrence of specified events), and in such number of installments, as may be directed by the Participant in
his election relating to such Deferred Compensation Account, provided that, in the event of termination of employment for reasons other than Retirement or Disability, a single lump sum payment in settlement of any Deferred Compensation Account
(including an Account with respect to which one or more installment payments have previously been made) shall be made as promptly as practicable thereafter, unless otherwise determined by the Administrator. 
 5.2. Distribution of Mandatory Deferrals Not Elected To Be Extended. If the Participant has not made an election to extend the deferral period of
any mandatory deferral of a portion of his annual incentive award to be earned under the Annual Incentive Plan for any Plan Year, a payment of the cash value of the Stock Equivalent Units credited to his Deferred Compensation Account attributable to
such mandatory deferral, including additional units credited as a result of dividends as provided under Section 4.7, shall be made on the date the period of mandatory deferral ends. 
 5.3. Method of Payment. All distributions under this Deferred Compensation Plan shall be in the form of a cash payment; provided, however, that
all deferrals of Stock-denominated awards under the American Water Works Company, Inc. Long-Term Performance-Based Incentive Plan shall be paid by delivery of shares of Stock reserved under such Plan. 
 5.4. Special Election for Early Distribution. A Participant may apply to the Administrator for early distribution of all or any part of his
Deferred Compensation Account excluding any amounts attributable to mandatory deferrals that have not been credited to his Deferred Compensation Account for the minimum period of mandatory deferral. Such early distribution shall be made in a single
lump sum, provided that 10% of the amount withdrawn in such early distribution shall be forfeited to the Participant’s Employer prior to payment of the remainder to the Participant. In the event a Participant’s early distribution election
is submitted within one year after a Change in Control, the forfeiture penalty shall be reduced to 5%. 
  

 -7- 

 5.5. Distributions on Death. In the event of a Participant’s death before his Deferred
Compensation Account has been distributed, distribution of his entire account (including mandatory deferrals) shall be made to the Beneficiary selected by the Participant in a single lump sum payment within 30 days after the date of death (or, if
later, after the proper Beneficiary has been identified). A Participant may from time to time change his designated Beneficiary without the consent of such Beneficiary by filing a new designation in writing with the Administrator. If no Beneficiary
designation is in effect at the time of the Participant’s death, or if the designated Beneficiary is missing or has predeceased the Participant, distribution shall be made to the Participant’s estate. 
 5.6. Valuation of Cash Distributions. All cash distributions under this Deferred Compensation Plan shall be based upon the cash value of the
investment credited to a Participant’s Deferred Compensation Account as of the date immediately preceding the date of the distribution. It is understood that administrative requirements may lead to a delay between such valuation date and the
date of distribution, not to exceed 30 days. 
 5.7. Financial Emergency and Other Payments. Other provisions of this Deferred
Compensation Plan notwithstanding, if, upon the written application of a Participant, the Administrator determines that the Participant has a financial emergency of such a substantial nature and beyond the individual’s control that payment of
amounts previously deferred under this Deferred Compensation Plan is warranted, the Administrator may direct the payment to the Participant of all or a portion of the balance of his Deferred Compensation Account and the time and manner of such
payment. 
 ARTICLE VI 
 FUNDING AND PARTICIPANT’S INTEREST 
 6.1. Deferred Compensation Plan Unfunded. This Deferred Compensation Plan
shall be unfunded and no trust shall be created by this Deferred Compensation Plan. The crediting to each Participant’s Deferred Compensation Account shall be made through record keeping entries. No actual funds shall be set aside; provided,
however, that nothing herein shall prevent the Employers from establishing one or more grantor trusts from which benefits due under this Deferred 

  

 -8- 

 
Compensation Plan may be paid in certain instances. All distributions shall be paid by the Employer from its general assets and a Participant (or his
Beneficiary) shall have the rights of a general, unsecured creditor against the Employer for any distributions due hereunder. This Deferred Compensation Plan constitutes a mere promise by the Employers to make benefit payments in the future.

 6.2. Participant’s Interest in Plan. A Participant has an interest in the cash value of amounts credited to his Deferred
Compensation Account. A Participant has no rights or interests in Stock or dividends and has no right to elect delivery of shares of Stock except as provided in Section 5.3. 
 ARTICLE VII 
 ADMINISTRATION AND INTERPRETATION 
 7.1. Administration. Except where certain duties are delegated to the Administrator, the Committee shall be in charge of the operation and
administration of this Deferred Compensation Plan. The Committee has, to the extent appropriate and in addition to the powers described elsewhere in this Deferred Compensation Plan, full discretionary authority to construe and interpret the terms
and provisions of this Deferred Compensation Plan; to adopt, alter and repeal administrative rules, guidelines and practices governing this Deferred Compensation Plan; to perform all acts, including the delegation of its administrative
responsibilities to advisors or other persons who may or may not be employees of the Employers; and to rely upon the information or opinions of legal counsel or experts selected to render advice with respect to this Deferred Compensation Plan, as it
shall deem advisable, with respect to the administration of this Deferred Compensation Plan. 
 7.2. Interpretation. The Committee may
take any action, correct any defect, supply any omission or reconcile any inconsistency in this Deferred Compensation Plan, or in any election hereunder, in the manner and to the extent it shall deem necessary to carry this Deferred Compensation
Plan into effect or to carry out the Board’s purposes in adopting the Plan. Any decision, interpretation or other action made or taken in good faith by or at the direction of the Employers, the Board, the board of directors of any Employer, the
Committee, or the Administrator arising out of or in connection with this Deferred Compensation Plan, shall be within the absolute discretion of all and each of them, as the case may be, and shall be final, binding and conclusive on the Employers
and all Participants and Beneficiaries and their respective heirs, executors, 

  

 -9- 

 
administrators, successors and assigns. The Committee’s or Administrator’s determinations hereunder need not be uniform, and may be made
selectively among Eligible Employees, whether or not they are similarly situated. Any actions to be taken by the Committee or Administrator will require majority vote of the Committee or the Administrator. If a member of the Committee or the
Administrator is a Participant in this Deferred Compensation Plan, such member may not decide or determine any matter or question concerning his benefits under this Deferred Compensation Plan that such member would not have the right to decide or
determine if he were not a member. 
 7.3. Records and Reports. The Administrator shall keep a record of proceedings and actions and
shall maintain or cause to be maintained all such books of account, records, and other data as shall be necessary for the proper administration of this Deferred Compensation Plan. Such records shall contain all relevant data pertaining to
Participants and their rights under this Deferred Compensation Plan. The Administrator shall have the duty to carry into effect all rights or benefits provided hereunder to the extent assets of the Employers are properly available. 
 7.4. Payment of Expenses. The Employers, in such proportions as the Committee determines, shall bear all expenses incurred by them and by the
Committee in administering this Deferred Compensation Plan. If a claim or dispute arises concerning the rights of a Participant or Beneficiary to amounts deferred under this Deferred Compensation Plan, regardless of the party by whom such claim or
dispute is initiated, the Employers shall (in such proportions as between the Employers as the Committee determines), and upon presentation of appropriate vouchers, pay all legal expenses, including reasonable attorneys’ fees, court costs, and
ordinary and necessary out-of-pocket costs of attorneys, billed to and payable by the Participant or by anyone claiming under or through the Participant (such person being hereinafter referred to as the “Participant’s Claimant”), in
connection with the bringing, prosecuting, defending, litigating, negotiating, or settling of such claim or dispute; provided, that: 
 (a)
The Participant or the Participant’s Claimant shall repay to his Employer any such expenses theretofore paid or advanced by his Employer if and to the extent that the party disputing the Participant’s rights obtains a judgment in its favor
from a court of competent jurisdiction from which no appeal may be taken, whether because the time to do so has expired or otherwise, and it is determined by the court that such expenses were not incurred by the Participant or the Participant’s
Claimant while acting in good faith; provided, further, that 
  

 -10- 

 (b) In the case of any claim or dispute initiated by a Participant or the Participant’s Claimant,
such claim shall be made, or notice of such dispute given, with specific reference to the provisions of this Deferred Compensation Plan, to the Committee within two years (three years, in the event of a Change in Control) after the occurrence of the
event giving rise to such claim or dispute. 
 7.5. Indemnification for Liability. The Employers shall indemnify the Administrator,
the members of the Committee, and the employees of any Employer to whom the Administrator delegates duties under this Deferred Compensation Plan, against any and all claims, losses, damages, expenses and liabilities arising from their
responsibilities in connection with this Deferred Compensation Plan, unless the same is determined to be due to gross negligence or willful misconduct. 
 7.6. Claims Procedure. If a claim for benefits or for participation under this Deferred Compensation Plan is denied in whole or in part, a Participant will receive written notification. The notification will
include specific reasons for the denial, specific reference to pertinent provisions of this Deferred Compensation Plan, a description of any additional material or information necessary to process the claim and why such material or information is
necessary, and an explanation of the claims review procedure. If the Committee fails to respond within 90 days, the claim is treated as denied. 
 7.7. Review Procedure. Within 60 days after the claim is denied or, if the claim is deemed denied, within 150 days after the claim is filed, a Participant (or his duly authorized representative) may file a written request with the
Committee for a review of his denied claim. The Participant may review pertinent documents that were used in processing his claim, submit pertinent documents, and address issues and comments in writing to the Committee. The Committee will notify the
Participant of its final decision in writing. In its response, the Committee will explain the reason for the decision, with specific references to pertinent Deferred Compensation Plan provisions on which the decision was based. If the Committee
fails to respond to the request for review within 60 days, the review is treated as denied. 
  

 -11- 

 ARTICLE VIII 
 AMENDMENT AND TERMINATION 
 8.1. Amendment and Termination. The Committee shall have the
right, at any time, to amend or terminate this Deferred Compensation Plan, in whole or in part, provided that such amendment or termination shall not adversely affect the right of any Participant or Beneficiary to payment of Participant’s
Deferred Compensation Account. The Administrator, upon review of the effectiveness of this Deferred Compensation Plan, may at any time recommend amendments to, or termination of, this Deferred Compensation Plan to the Committee. American Water Works
reserves the right, in its sole discretion, to discontinue deferrals under, or completely terminate, this Deferred Compensation Plan at any time. If this Deferred Compensation Plan is discontinued with respect to future deferrals, Participants’
Deferred Compensation Accounts shall be distributed on the distribution dates elected in accordance with Section 5.1, unless the Committee designates that distributions shall be made on an earlier date. If the Committee designates such earlier
date, each Participant shall receive distribution of his entire Deferred Compensation Account as specified by the Committee. If this Deferred Compensation Plan is completely terminated, each Participant shall receive distribution of his entire
Deferred Compensation Account in one lump sum payment as of the date this Deferred Compensation Plan terminates. 
 ARTICLE IX 

 MISCELLANEOUS PROVISIONS 
 9.1. Right of Employers to Take Employment Actions. The adoption and maintenance of this Deferred Compensation Plan shall not be deemed to constitute a contract between an Employer and any Eligible Employee, or to be a consideration
for, or an inducement or condition of, the employment of any individual. Nothing herein contained, or any action taken hereunder, shall be deemed to give any Eligible Employee the right to be retained in the employ of an Employer or to interfere
with the right of an Employer to discharge any Eligible Employees at any time, nor shall it be deemed to give to an Employer the right to require the Eligible Employee to remain in its employ, nor shall if interfere with the Eligible Employee’s
right to terminate his employment at any time. Nothing in this Deferred Compensation Plan shall prevent an Employer from amending, modifying, or terminating any other benefit plan, including the Annual Incentive Plan. 
  

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 9.2. Alienation or Assignment of Benefits. A Participant’s rights and interest under this
Deferred Compensation Plan shall not be assigned or transferred except as otherwise provided herein, and a Participant’s rights to benefit payments under this Deferred Compensation Plan shall not be subject to alienation, pledge or garnishment
by or on behalf of creditors (including heirs, beneficiaries, or dependents) of the Participant or of a Beneficiary. 
 9.3. Right to
Withhold. To the extent required by law in effect at the time a distribution is made from this Deferred Compensation Plan, the Employer or its agents shall have the right to withhold or deduct from any distributions or payments any taxes
required to be withheld by federal, state or local governments. 
 9.4. Construction. All legal questions pertaining to this Deferred
Compensation Plan shall be determined in accordance with the laws of the State of New Jersey, to the extent such laws are not superseded by the Employee Retirement Income Security Act of 1974, as amended, or any other federal law. 
 9.5. Headings. The headings of the Articles and Sections of this Deferred Compensation Plan are for reference only. In the event of a conflict
between a heading and the contents of an Article or Section, the contents of the Article or Section shall control. 
 9.6. Number and
Gender. Whenever any words used herein are in the singular form, they shall be construed as though they were also used in the plural form in all cases where they would so apply, and references to the male gender shall be construed as applicable
to the female gender where applicable, and vice versa. 
  

			
	AMERICAN WATER WORKS COMPANY, INC.
		
	By:	 	 /s/ J. James Barr

		 	J. James Barr
		 	President and Chief Executive Officer
		
	Attest:	 	 /s/ W. Timothy Pohl

		 	W. Timothy Pohl
		 	General Counsel and Secretary

  

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