Document:

Exhibit 10.10

 

BLUE SPHERE CORPORATION

 

GLOBAL SHARE AND OPTIONS INCENTIVE ENHANCEMENT PLAN (2014)

 

1. NAME AND PURPOSE.

 

1.1 This plan, which has been adopted by the Board of Directors
of the Company, Blue Sphere Corporation, as amended from time to time, shall be known as the Blue Sphere Corp. Global Share Incentive
Plan (2014) (the “Plan”). The Plan supersedes and replaces in its entirety the Blue Sphere Corp. Global Share Incentive
Plan (2010) (the “Original Plan”), which is hereby terminated and of no further force or effect.

 

1.2 The purposes of the Plan are to attract and retain the best
available personnel for positions of substantial responsibility, to provide additional incentive to Service Providers of the Company
and its affiliates and subsidiaries, if any, and to promote the Company's business by providing such individuals with opportunities
to receive Awards pursuant to the Plan and to strengthen the sense of common interest between such individuals and the Company's
Stockholders.

 

1.3 Awards granted under the Plan to Service Providers in various
jurisdictions may be subject to specific terms and conditions for such grants. Such terms and conditions may be set forth in one
or more separate appendices to the Plan, as may be approved by the Board of Directors of the Company from time to time.

 

2. DEFINITIONS

 

“Administrator” shall mean the Board of Directors or
a Committee.

 

“Appendix” shall mean any appendix to the Plan adopted
by the Board of Directors containing country-specific or other special terms relating to Awards including additional terms with
respect to grants of restricted stock and other equity-based Awards.

 

“Award” shall mean a grant of Options, allotment of
Shares or other equity-based award hereunder. All Awards shall be confirmed by an Award Agreement and subject to the terms and
conditions of such Award Agreement.

 

“Award Agreement” shall mean a written instrument setting
forth the terms applicable to a particular Award.

 

“Board of Directors” shall mean the board of directors
of the Company.

 

    	 

    	 

    

 

“Cause” shall have the meaning ascribed to such term
or a similar term as set forth in the Participant’s employment agreement or the agreement governing the provision of services
by a non-employee Service Provider, or, in the absence of such a definition: (i) conviction (or plea of nolo contendere) of any
felony or crime involving moral turpitude or affecting the Company; (ii) repeated and unreasonable refusal to carry out a reasonable
and lawful directive of the Company or of Participant’s supervisor which involves the business of the Company or its affiliates
and was capable of being lawfully performed; (iii) fraud or embezzlement of funds of the Company or its affiliates; (iv) any breach
by a director of his / her fiduciary duties or duties of care towards the Company; and (v) any disclosure of confidential information
of the Company or breach of any obligation not to compete with the Company or not to violate a restrictive covenant.

 

“Committee” shall mean a compensation committee or other
committee as may be appointed and maintained by the Board of Directors, in its discretion, to administer the Plan, to the extent
permissible under applicable law, as amended from time to time.

 

“Company” shall mean Blue Sphere Corporation, a Nevada
corporation and its successors and assigns.

 

“Consultant” means any entity or individual who (either
directly or, in the case of an individual, through his or her employer) is an advisor or consultant to the Company or its subsidiary
or affiliate.

 

“Corporate Charter” shall mean the articles of incorporation
and by-laws of the Company and any subsequent amendments or replacements thereto.

 

“Disability” shall have the meaning ascribed to such
term or a similar term in the Participant's employment agreement (where applicable), or in the absence of such a definition, the
inability of the Participant, in the opinion of a qualified physician acceptable to the Company, to perform the major duties of
the Participant’s position with the Company because of the sickness or injury of the Participant for a consecutive period
of 90 days.

 

“Fair Market Value” shall mean, as of any date, the
value of Shares, determined as follows:

(i) If the Shares are listed on any established stock exchange or
traded on the Nasdaq National Market or the Nasdaq Small Cap Market, the over-the-counter (“OTC”) Bulletin Board or
any other OTC market (including pink sheets), the Fair Market Value of a Share of common stock of the Company shall be the closing
sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or market (or the exchange
or market with the greatest volume of trading in the common stock) on the last market trading day prior to the day of determination,
as reported in the Wall Street Journal or such other source as the Board deems reliable.

(ii) In the absence of such markets for the Shares, the Fair Market
Value shall be determined in good faith by the Board.

 

“IPO” shall mean an initial offering of the Company’s
Shares to the public in an underwritten offering under an applicable registration statement.

 

“Options” shall mean options to purchase Shares awarded
under the Plan.

 

    	 

    	 

    

 

“Participant” shall mean a recipient of an Award hereunder
who executes an Award Agreement.

 

“Restricted Stock” means an Award of Shares under this
Plan that is subject to the terms and conditions of Section 7.

 

“Service Provider” shall mean an employee, director,
office holder or Consultant of the Company or its subsidiary or affiliate.

 

“Shares” shall mean shares of common stock, par value
US$ 0.0001 per share, of the Company.

 

“Transaction” shall have the meaning set forth in Section
10.2.

 

3. ADMINISTRATION OF THE PLAN.

 

3.1 The Plan will be administered by the Administrator. If the Administrator
is a Committee, such Committee will consist of such number of members of the board of directors of the Company (not less than two
in number), as may be determined from time to time by the Board of Directors. The Board of Directors shall appoint such members
of the Committee, may from time to time remove members from, or add members to, the Committee, and shall fill vacancies in the
Committee however caused.

 

3.2 The Committee, if appointed, shall select one of its members
as its Chairman and shall hold its meetings at such times and places as it shall determine. Actions at a meeting of the Committee
at which a majority of its members are present or acts approved in writing by all members of the Committee shall be the valid acts
of the Committee. The Committee shall appoint a secretary, who shall keep records of its meetings and shall make such rules and
regulations for the conduct of its business and the implementation of the Plan, as it shall deem advisable, subject to the directives
of the Board of Directors and in accordance with applicable law.

 

3.3 Subject to the general terms and conditions of the Plan, and
in particular Section 3.4 below, the Administrator shall have full authority in its discretion, from time to time and at any time,
to determine (i) eligible Participants, (ii) the number of Options or Shares to be covered by each Award, (iii) the time or times
at which the Award shall be granted, (iv) the vesting schedule and other terms and conditions applying to Awards, (v) the form(s)
of written agreements applying to Awards, and (vi) any other matter which is necessary or desirable for, or incidental to, the
administration of the Plan and the granting of Awards. The Board of Directors may, in its sole discretion, delegate some or all
of the powers listed above to the Committee, to the extent permitted by applicable law, its Corporate Charter or other applicable
law, rules and regulations.

 

    	 

    	 

    

 

3.4 No member of the Board of Directors or of the Committee shall
be liable for any action or determination made in good faith with respect to the Plan or any Award granted hereunder. Subject to
the Company’s decision and to all approvals legally required, each member of the Board or the Committee shall be indemnified
and held harmless by the Company against any cost or expense (including counsel fees) reasonably incurred by him or her, or any
liability (including any sum paid in settlement of a claim with the approval of the Company) arising out of any act or omission
to act in connection with the Plan unless arising out of such member’s own willful misconduct or bad faith, to the fullest
extent permitted by applicable law. Such indemnification shall be in addition to any rights of indemnification the member may have
as a director or otherwise under the Company’s Corporate Charter, any agreement, any vote of stockholders or disinterested
directors, insurance policy or otherwise.

 

3.5 The interpretation and construction by the Administrator of
any provision of the Plan or of any Option hereunder shall be final and conclusive. In the event that the Board appoints a Committee,
the interpretation and construction by the Committee of any provision of the Plan or of any Option hereunder shall be conclusive
unless otherwise determined by the Board of Directors. To avoid doubt, the Board of Directors may at any time exercise any powers
of the Administrator, notwithstanding the fact that a Committee has been appointed.

 

3.6 The Administrator shall have the authority to adopt, alter and
repeal such administrative rules, guidelines and practices governing the Plan and perform all acts, including the delegation of
its responsibilities (to the extent permitted by applicable law and applicable stock exchange rules), as it shall, from time to
time, deem advisable; to construe and interpret the terms and provisions of the Plan and any Award issued under the Plan (and any
agreements relating thereto); and to otherwise supervise the administration of the Plan. The Administrator may correct any defect,
supply any omission or reconcile any inconsistency in the Plan or in any agreement relating thereto in the manner and to the extent
it shall deem necessary to effectuate the purpose and intent of the Plan. Notwithstanding the foregoing, no action of the Administrator

under this Section 3.6 not otherwise provided for herein or in an
Award Agreement shall reduce the vested rights of any Participant without the Participant’s consent.

 

3.7 Without limiting the generality of the foregoing, the Administrator
may adopt special appendices and/or guidelines and provisions for persons who are residing in or employed in, or subject to, the
taxes of, any domestic or foreign jurisdictions, to comply with applicable laws, regulations, or accounting, listing or other rules
with respect to such domestic or foreign jurisdictions.

 

3.8 The Administrator shall have the right and power to cancel any
award of Shares of Options under the Original Plan and re-issue them under this Plan, provided that the relevant Participant consents
in writing thereto. In such case, the Administrator will retroactively re-issue such Shares and Options so that the relevant participant
may keep the same share certificates representing its Shares.

 

    	 

    	 

    

 

4. ELIGIBLE PARTICIPANTS.

 

4.1 No Award may be granted pursuant to the Plan to any person serving
as a member of the Committee or to any other Director of the Company at the time of the grant, unless such grant is approved in
the manner prescribed for the approval of compensation of directors under applicable law.

 

4.2 Subject to the limitation set forth in Section 4.1 above and
any restriction imposed by applicable law, Awards may be granted to any Service Provider of the Company, whether or not a director
of the Company or its affiliates. The grant of an Award to a Participant hereunder shall neither entitle such Participant to receive
an additional Award or participate in other incentive plans of the Company, nor disqualify such Participant from receiving any
additional Award or participating in other incentive plans of the Company.

 

5. RESERVED SHARES.

 

The Company may determine the number of Shares to be reserved hereunder
from time to time, and such number may be increased or decreased by the Company from time to time. Any Shares under the Plan, in
respect of which the right hereunder of a Participant to purchase the same shall for any reason terminate, expire or otherwise
cease to exist, shall again be available for grant as Awards under the Plan. Any Shares that remain unissued and are not subject
to Awards at the termination of the Plan shall cease to be reserved for purposes of the Plan. Until termination of the Plan, the
Company may at all times reserve a sufficient number of Shares to meet the requirements of the Plan.

 

6. AWARD AGREEMENT.

 

6.1 The Board of Directors in its discretion may award to Participants
Awards available under the Plan. The terms of the Award will be set forth in the Award Agreement. The date of grant of each Award
shall be the date specified by the Board of Directors at the time such award is made, or in the absence of such specification,
the date of approval of the award by the Board of Directors.

 

6.2 The Award Agreement shall state, inter alia, the number of Options
or Shares or equity-based units covered thereby, the type of Option or Share-based or other grant awarded, any special terms applying
to such Award (if any), including the terms of any country-specific or other applicable Appendix, as determined by the Board of
Directors.

 

7. RESTRICTED STOCK AND OTHER EQUITY-BASED AWARDS.

 

7.1 Eligibility. Restricted Stock may be issued to all Participants
either alone or in addition to other Awards granted under the Plan. The Administrator shall determine the eligible Participants
to whom, and the time or times at which, grants of Restricted Stock will be made, the number of shares to be awarded, the purchase
price (if any) to be paid by the Participant (subject to Section 7.2), the time or times at which such Awards may be subject to
forfeiture (if any), the vesting schedule (if any) and rights to acceleration thereof, and all other terms and conditions of the
Awards. The Administrator may condition the grant or vesting of Restricted Stock upon the attainment of specified performance targets
or such other factors as the Administrator may determine, in its sole discretion. Unless otherwise determined by the Administrator,
the Participant shall not be permitted to sell or transfer shares of Restricted Stock awarded under this Plan during a period set
by the Administrator (if any) (the “Restriction Period”) commencing with the date of such Award, as set forth in the
applicable Award agreement.

 

    	 

    	 

    

 

7.2 Terms. A Participant selected to receive Restricted Stock shall
not have any rights with respect to such Award, unless and until such Participant has delivered a fully executed copy of the Award
Agreement evidencing the Award to the Company and has otherwise complied with the applicable terms and conditions of such Award.
The purchase price of Restricted Stock shall be determined by the Administrator, but shall not be less than as permitted under
applicable law. If applicable, Awards of Restricted Stock must be accepted within a period of 60 days (or such shorter period as
the Administrator may specify at grant) after the grant date by executing an Award Agreement and by paying whatever price (if any)
the Administrator has designated thereunder.

Unless determined otherwise by the Board of Directors and provided
accordingly in the applicable Award Agreement, the Awards shall vest on a quarterly basis over a 2 year period, in eight equal
installments, subject to the Participant’s continuous service.

 

7.3 Legend. Each Participant receiving Restricted Stock shall be
issued a share certificate in respect of such shares of Restricted Stock, unless the Administrator elects to use another system,
such as book entries by the transfer agent, as evidencing ownership of Restricted Stock. Such certificate shall be registered in
the name of such Participant, and shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable
to such Award in such form and substance as shall be determined by the Company in its sole discretion.

 

7.4 Custody. The Administrator may require that any share certificates
evidencing such shares be held in custody by the Company until the restrictions thereon shall have lapsed, and that, as a condition
of any Restricted Stock Award, the Participant shall have delivered a duly signed share transfer deed, endorsed in blank, relating
to the Shares covered by such Award.

 

7.5 Rights as Stockholder. Except as provided in this Section and
Section 7.4 above and as otherwise determined by the Administrator and set forth in the Award Agreement, the Participant shall
have, with respect to the shares of Restricted Stock, all of the rights of a holder of Shares including, without limitation, the
right to receive any dividends, the right to vote such shares and, subject to and conditioned upon the full vesting of shares of
Restricted Stock, the right to tender such shares. Notwithstanding the foregoing, the payment of dividends shall be deferred until,
and conditioned upon, the expiration of the applicable Restriction Period, unless the Administrator, in its sole discretion, specifies
otherwise at the time of the Award.

 

7.6 Lapse of Restrictions. If and when the Restriction Period expires
without a prior forfeiture of the Restricted Stock subject to such Restriction Period, the certificates for such shares shall be
delivered to the Participant. All legends shall be removed from said certificates at the time of delivery to the Participant except
as otherwise required by applicable law. Notwithstanding the foregoing, actual certificates shall not be issued to the extent that
book entry recordkeeping is used.

 

    	 

    	 

    

 

7.7 Other Equity-Based Awards. Other equity-based awards (including,
without limitation, restricted stock units and performance share awards) may be granted either alone or in addition to or other
Awards granted under the Plan to all eligible Participants pursuant to such terms and conditions as the Administrator may determine,
including without limitation, in one or more appendix adopted by the administrator and appended to this Plan.

 

8. EXERCISE OF OPTIONS.

 

8.1 Options shall be exercisable pursuant to the terms under which
they were awarded and subject to the terms and conditions of the Plan and any applicable Appendix, as specified in the Award Agreement.

 

8.2 The exercise price for each share to be issued upon exercise
of an Option shall be such price as is determined by the Board in its discretion, provided that the price per Share is not less
than the par value of each Share. Unless otherwise determined by the Board of Directors, the exercise price of an Option shall
be the Fair Market Value of the Shares on the date of grant.

 

8.3 An Option, or any part thereof, shall be exercisable by the
Participant's signing and returning to the Company at its principal office (and to the Trustee, where applicable), a “Notice
of Exercise” in such form and substance as may be prescribed by the Board of Directors from time to time, together with full
payment for the Shares underlying such Option.

 

8.4 Each payment for Shares under an Option shall be in respect
of a whole number of Shares, shall be effected in cash or by check payable to the order of the Company, or such other method of
payment acceptable to the Company as determined by the Administrator, and shall be accompanied by a notice stating the number of
Shares being paid for thereby.

 

8.5 Until the Shares are issued (as evidenced by the appropriate
entry in the share register of the Company or of a duly authorized transfer agent of the Company) a Participant shall have no right
to vote or right to receive dividends or any other rights as a shareholder shall exist with respect to such Shares, notwithstanding
the exercise of the Option. The Company shall issue (or cause to be issued) such Shares promptly after the Option is exercised.
No adjustment will be made for a dividend or other right the record date for which is prior to the date the Shares are issued,
except as provided in Section 9 of the Plan.

 

    	 

    	 

    

 

8.6 To the extent permitted by law, if the Share is traded on a
national securities exchange, The Nasdaq Share Market or quoted on a national quotation system sponsored by the National Association
of Securities Dealers or otherwise publicly traded or quoted, payment for the Shares underlying an Option may be made all or in
part by the delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company
to sell Shares and to deliver all or part of the sales proceeds to the Company in payment of the exercise price (or the relevant
portion thereof, as applicable) and any withholding taxes, or on such other terms and conditions as may be acceptable to the Administrator.
No Shares shall be issued until payment has been made or provided for, as provided herein.

 

8.7 Notwithstanding anything else to the contrary herein, the Company
may allow a Participant to avail itself of a cashless exercise of Options in accordance with the following steps:

 

• The
Participant exercises the option to purchase a quantity of Shares.

 

• The
Participant receives the Shares and immediately sells a quantity sufficient to pay for the purchase price from the Company, transaction
costs and any tax bill associated with the transaction and transfers the proceeds from such sale to the Company to pay the applicable
purchase price.

 

• The
Participant nets any Shares or cash remaining after the sale and payment of expenses associated with the Shares’ acquisition.

 

Alternatively, the Company may allow the Participant
to use any amounts owed to it by the Company for purchase of Shares pursuant to an Award Agreement. In such case, the amount owed
by the Company to the Participant shall be reduced correspondingly.

 

9. TERMINATION OF RELATIONSHIP AS SERVICE PROVIDER.

 

9.1 Effect of Termination; Exercise after Termination. Unless otherwise
determined by the Administrator, if a Participant ceases to be a Service Provider, such Participant may exercise any outstanding
Options within such period of time as is specified in the Award Agreement or the Plan to the extent that the Options are vested
on the date of termination (but in no event later than the expiration of the term of the Option as set forth in the Option Agreement).
If, on the date of termination, any Options are unvested, the Shares covered by the unvested portion of the Option shall revert
to the Plan. If, after termination, the Participant does not exercise the vested Options within the time specified in the Award
Agreement or the Plan, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan.

 

In the absence of a provision specifying otherwise in the relevant
Award Agreement, then:

 

(a) in the event that the Participant ceases to be a Service Provider
for any reason other than termination for Cause or as a result of the Participant’s death or Disability: (i) the vested Options
shall remain exercisable until the earlier of: (i) a period of three (3) months from the Date of Termination; or (ii) expiration
of the term of the Option as set forth in Section 13;

 

    	 

    	 

    

 

(b) in the event that the Participant ceases to be a Service Provider
as a result of termination without cause or constructive termination, then any and all unvested Shares and/or Options shall vest
immediately and the Company shall use its best efforts to cause such Shares and/or options to be delivered to the Participant as
promptly as possible; in the case of options, it is agreed and acknowledged that a letter stating the number of options, terms
of exercise and any other material details shall be sufficient delivery.

 

(c) in the event that the Participant ceases to be a Service Provider
for Cause, (i) all Options will terminate immediately upon the date of such termination for Cause, such that the unvested portion
of the Options will not vest, and the vested portion of the Options will no longer be exercisable; and (ii) all Restricted Stock
still subject to restriction under the applicable Restriction Period as of the Date of Termination, as set forth in the Award Agreement,
shall be forfeited.

 

9.2 Date of Termination. For purposes of the Plan and any Option
or Option Agreement, and unless otherwise set forth in the relevant Award Agreement, the “Date of Termination” (whether
for Cause or otherwise) shall be the effective date of termination of the Participant's employment or engagement as a Service Provider.

 

9.3 Leave of Absence. Unless the Administrator provides otherwise,
vesting of Awards granted hereunder shall be suspended during any unpaid leave of absence.

 

9.4 Change of Status. A Service Provider shall not cease to be considered
as such in the case of any (a) leave of absence approved by the Company, or (b) transfers between locations of the Company or between
the Company, and its parent, subsidiary, affiliate, or any successor thereof; or (c) changes in status (employee to director, employee
to consultant, etc.) provided that such change does not affect the specific terms applying to the Service Provider’s Award.

 

10. ADJUSTMENTS.

 

Upon the occurrence of any of the following described events, a
Participant's rights to purchase Shares under the Plan shall be adjusted as hereinafter provided:

 

10.1 Changes in Capitalization. Subject to any required action by
the stockholders of the Company, the number of Shares covered by each outstanding Award, and the number of Shares which have been
authorized for issuance under the Plan but as to which no Options or other Award have yet been granted or which have been returned
to the Plan upon cancellation or expiration of an Option or other Award, as well as the price per Share covered by each such outstanding
Option, shall be proportionately adjusted for any increase or decrease in the number of issued Shares resulting from a share split,
reverse share split, share dividend, combination or reclassification of the Shares, or any other increase or decrease in the number
of issued Shares effected without receipt of consideration by the Company. The conversion of any convertible securities of the
Company shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made
by the Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein,
no issuance by the Company of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment
by reason thereof shall be made with respect to, the number or price of Shares subject to an Option or other Award.

 

    	 

    	 

    

 

10.2 Merger, Acquisition, or Asset Sale.

(a) In the event of (i) a merger or consolidation of the Company
with or into another corporation resulting in such other corporation being the surviving entity or the direct or indirect parent
of the Company or resulting in the Company being the surviving entity and any other person or entity owning fifty percent (50%)
or more of the outstanding voting power of the Company's securities by virtue of the transaction, (ii) an acquisition of all or
substantially all of the shares of the Company, or (iii) the sale of all or substantially all of the assets of the Company (each
such event, a “Transaction”), the unexercised or restricted portion of each outstanding Award shall be assumed or an
equivalent Award or right substituted, by the successor corporation or an affiliate of the successor corporation, as shall be determined
by such entity, subject to the subsequent sentence in this Section 10.2(a) and the remaining terms of the Plan. In the event that
the successor corporation or a parent or subsidiary of the successor corporation does not provide for such an assumption or substitution
of Options, the Administrator may determine, at its sole discretion, that all or a portion of the outstanding and unvested Options
shall become exercisable in full on a date no later than ten (10) days prior to the date of consummation of the Transaction, provided
that unless otherwise determined by the Administrator, the exercise of all Options that otherwise would not have been exercisable
in the absence of a Transaction, shall be contingent upon the actual consummation of the Transaction.

 

(b) For the purposes of this Section 10.2, an Option shall be
considered assumed or substituted if, following a Transaction, the option confers the right to purchase or receive, for each
Share subject to the Option immediately prior to the Transaction, the consideration (whether stock, cash, or other securities
or property) received in the merger or sale of assets by holders of Shares of the Company for each Share held on the
effective date of the Transaction (and if holders were offered a choice of consideration, the type of consideration
determined by the Administrator, at its sole discretion); provided, however, that if the consideration received in the
Transaction is not solely common stock or ordinary shares (or the equivalent) of the successor corporation or its direct or
indirect parent, the Administrator may, with the consent of the successor corporation, provide for the per share
consideration to be received upon the exercise of the Option to be solely common stock or ordinary shares (or the equivalent)
of the successor corporation or its direct or indirect parent equal in fair market value to the per share consideration
received by holders of Shares in the Transaction, as determined by the Administrator.

 

    	 

    	 

    

 

(c) In the event that the Board of Directors determines in good
faith that, in the context of a Transaction, certain Options have no monetary value and thus do not entitle the holders of such
Options to any consideration under the terms of the Transaction, the Board of Directors may determine that such Options shall terminate
effective as of the effective date of the Transaction.

 

(d) It is the intention that the Administrator’s authority
to make determinations, adjustments and clarifications in connection with the treatment of Awards shall be interpreted as widely
as possible, to allow the Administrator maximal power and flexibility to interpret and implement the provisions of the Plan in
the event of a Transaction, provided that the Administrator shall determine in good faith that a Participant’s rights are
not thereby adversely affected without the Participant’s express written consent. Without derogating from the generality
of the foregoing, the Administrator shall have the authority, at its sole discretion, to determine that the treatment of Options,
whether vested or unvested, in a Transaction may differ among individual Participants or groups of Participants, provided that
the overall economic impact of the different approaches determined by the Administrator shall be substantively equivalent as of
the date of the closing of the Transaction.

 

11. NON-TRANSFERABILITY OF OPTIONS AND SHARES.

 

11.1 No Option may be transferred other than by will or by the laws
of descent and distribution and during the Participant's lifetime an Option may be exercised only by such Participant.

 

11.2 Restricted Stock may not be assigned, transferred, pledged
or mortgaged, other than by will or laws of descent and distribution, prior to the date on which the date on which any applicable
restriction, performance or deferred period lapses. Shares for which full payment has not been made, may not be assigned, transferred,
pledged or mortgaged, other than by will or laws of descent and distribution. For avoidance of doubt, the foregoing shall not be
deemed to restrict the transfer of an Participant's rights in respect of Options or Shares purchasable pursuant to the exercise
thereof upon the death of such Participant to such Participant’s estate or other successors by operation of law or will,
whose rights therein shall be governed by Section 9.1(a) hereof, and as may otherwise be determined by the Administrator. Further
restrictions on the transfer of Shares are set forth below in Section 21 below.

 

12. TERM AND AMENDMENT OF THE PLAN.

 

12.1 The Plan shall expire on the date which is ten (10) years from
the date of its adoption by the Board of Directors (except as to Options outstanding on that date).

 

    	 

    	 

    

  

12.2 Notwithstanding any other provision of the Plan, the Board
(or a duly authorized Committee thereof) may at any time, and from time to time, amend, in whole or in part, any or all of the
provisions of the Plan (including any amendment deemed necessary to ensure that the Company may comply with any regulatory requirement),
or suspend or terminate it entirely, retroactively or otherwise; provided, however, that, except (x) to correct obvious drafting
errors or as otherwise required by law or (y) as specifically provided herein, the rights of a Participant with respect to Awards
granted prior to such amendment, suspension or termination, may not be reduced without the consent of such Participant. The Administrator
may amend the terms of any Award theretofore granted, prospectively or retroactively, but except (x) to correct obvious drafting
errors or as otherwise required by law or applicable accounting rules, or (y) as specifically provided herein, no such amendment
or other action by the Committee shall reduce the rights of any Participant with respect to Awards without the Participant’s
consent.

 

13. TERM OF OPTION.

 

Unless otherwise explicitly provided in an Award Agreement, if any
Option, or any part thereof, has not been exercised and the Shares covered thereby not paid for within ten (10) years after the
date on which the Option was granted, as set forth in the Award Agreement (or any other period set forth in the instrument granting
such Option pursuant to Section 6), such Option, or such part thereof, and the right to acquire such Shares shall terminate, all
interests and rights of the Participant in and to the same shall expire, and, in the event that in connection therewith any Shares
are held in trust as aforesaid, such trust shall expire.

 

14. CONTINUANCE OF ENGAGEMENT.

 

Neither the Plan nor any offer of Shares or Options to a Participant
shall impose any obligation on the Company or a related company thereof, to continue the employment or engagement of any Participant
as a Service Provider, and nothing in the Plan or in any Option granted pursuant thereto shall confer upon any Participant any
right to continue to serve as a Service Provider of the Company or a related company thereof or restrict the right of the Company
or a related company thereof to terminate such employment or engagement at any time.

 

15. GOVERNING LAW.

 

The Plan and all instruments issued thereunder or in connection
therewith, shall be governed by, and interpreted in accordance with, the laws of the State of Delaware.

 

16. APPLICATION OF FUNDS.

 

The proceeds received by the Company from the sale of Shares pursuant
to Options granted under the Plan will be used for general corporate purposes of the Company or any related company thereof.

 

    	 

    	 

    

  

17. TAXES.

 

17.1 Any tax consequences arising from the grant, or vesting or
exercise of any Award, from the payment for Shares covered thereby, or from any other event or act (of the Company, and/or its
affiliates, or the Participant), hereunder, shall be borne solely by the Participant. The Company and/or its affiliates shall withhold
taxes according to the requirements under the applicable laws, rules, and regulations, including withholding taxes at source. Furthermore,
the Participant shall agree to indemnify the Company and/or its affiliates and hold them harmless against and from any and all
liability for any such tax or interest or penalty thereon, including without limitation, liabilities relating to the necessity
to withhold, or to have withheld, any such tax from any payment made to the Participant. The Company or any of its affiliates may
make such provisions and take such steps as it may deem, necessary or appropriate for the withholding of all taxes required by
law to be withheld with respect to Awards granted under the Plan and the exercise thereof, including, but not limited, to (i) deducting
the amount so required to be withheld from any other amount (or Shares issuable) then or thereafter to be provided to the Participant,
including by deducting any such amount from a Participant’s salary or other amounts payable to the Participant, to the maximum
extent permitted under law and/or (ii) requiring the Participant to pay to the Company or any of its affiliates the amount so required
to be withheld as a condition of the issuance, delivery, distribution or release of any Shares and/or (iii) by causing the exercise
and sale of any Options or Shares held by on behalf of the Participant to cover such liability, up to the amount required to satisfy
minimum statutory withholding requirements. In addition, the Participant will be required to pay any amount due in excess of the
tax withheld and transferred to the tax authorities, pursuant to applicable tax laws, regulations and rules.

 

17.2 The receipt of an Award and/or the acquisition of Shares issued
upon the exercise of the Options may result in tax consequences. The description of tax consequences set forth in the Plan or any
Appendix hereto does not purport to be complete, up to date or to take into account any special circumstances relating to a Participant.

 

17.3 THE PARTICIPANT IS ADVISED TO CONSULT WITH A TAX ADVISOR WITH
RESPECT TO THE TAX CONSEQUENCES OF RECEIVING OR EXERCISING ANY AWARD IN LIGHT OF HIS OR HER PARTICULAR CIRCUMSTANCES.

 

18. MARKET STAND-OFF

 

If so requested by the Company or any representative of the underwriters
(the “Managing Underwriter”) in connection with any registration of the offering of any securities of the Company under
the securities laws of any jurisdiction, the Participant shall not sell or otherwise transfer any Shares or other securities of
the Company during a 180-day period or such other period as may be requested in writing by the Managing Underwriter and agreed
to in writing by the Company (the “Market Standoff Period”) following the effective date of registration statement
of the Company filed under such securities laws. The Company may require the Participant to execute a form of undertaking to this
effect or impose stop transfer instructions with respect to securities subject to the foregoing restrictions until the end of such
Market Standoff Period.

 

    	 

    	 

    

  

19. CONDITIONS UPON ISSUANCE OF SHARES.

 

19.1 Legal Compliance. Shares shall not be issued pursuant to the
exercise of an Option or with respect to any other Award unless the exercise of such Option or grant of such Award and the issuance
and delivery of such Shares shall comply with applicable laws and shall be further subject to the approval of counsel for the Company
with respect to such compliance. The inability of the Company to obtain authority from any regulatory body having jurisdiction,
which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder,
shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority
shall not have been obtained.

 

19.2 Investment Representations. As a condition to the exercise
of an Option or receipt of an Award, the Board may require the person exercising such Option or receiving such Award to represent
and warrant at the time of any such exercise or the time of receipt of the Award that the Shares are being purchased only for investment
and without any present intention to sell or distribute such Shares, and make other representations as may be required under applicable
securities laws if, in the opinion of counsel for the Company, such representations are required, all in form and content specified
by the Board.

 

19.3 Legend. The Administrator may require each person
receiving Shares pursuant to an Award granted under the Plan to represent to and agree with the Company in writing that the
Participant is acquiring the shares without a view to distribution thereof and such other securities law related
representations as the Administrator shall request. In addition to any legend required by the Plan, the certificates for such
shares may include any legend, which the Administrator deems appropriate to reflect any applicable restrictions on transfer.
All certificates for Shares delivered under the Plan shall be subject to such stock transfer orders and other restrictions as
the Administrator may deem advisable under the rules, regulations and other requirements of any relevant securities
authority, any stock exchange upon which the Shares are then listed or any national securities association system upon whose
system the Shares are then quoted, any applicable securities law, and any applicable corporate law, and the Administrator may
cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.

 

    	 

    	 

    

 

20. PROXY

 

The Company, at its sole discretion, may require that as a condition
of grant of an Award or of exercise of an Option, the Participant be required to grant an irrevocable proxy to any appropriate
person designated by the Company, to vote all Shares obtained by the Participant pursuant to an Award at all general meetings of
Company, and to sign all written resolutions, waivers, consents etc. of the shareholders of the Company on behalf of the Participant,
including the right to waive on behalf of the Participant all minimum notice requirements for meetings of shareholders of the Company.
Such proxy shall remain in effect until the consummation of an IPO, and shall be irrevocable as the rights of third parties, including
investors in the Company, depend upon such proxy. The proxy shall be personal to the Participant and shall not survive the transfer
of the Participant’s Shares to a third-party transferee; provided, however, that upon a transfer of the Participant’s
Shares to such a transferee (subject to the terms and conditions of the Plan concerning any such transfer), the transferee may
be required to grant an irrevocable proxy to such appropriate person as the Company, in giving its approval to the transfer, so
requires. The proxy may be contained in the Award Agreement of each Participant or otherwise as the Committee determines. If contained
in the Award Agreement, no further document shall be required to implement such proxy, and the signature of the Participant on
the Award Agreement shall indicate approval of the proxy thereby granted. The holder of the proxy shall be indemnified and held
harmless by the Company against any cost or expense (including counsel fees) reasonably incurred by him/her, or any liability (including
any sum paid in settlement of a claim with the approval of the Company) arising out of any act or omission to act in connection
with the voting of the proxy unless arising out of his/her own fraud, bad faith or gross negligence, to the extent permitted by
applicable law. Such indemnification shall be in addition to any rights of indemnification the holder of the proxy may have as
a director, officer or otherwise under the Company's Certificate of Incorporation, by laws or any agreement, any vote of shareholders
or directors, insurance policy or otherwise.

 

21. ADDITIONAL RESTRICTIONS ON TRANSFERS OF SHARES.

 

Until such time as the Shares are registered for trade to the public,
a Participant shall not be permitted to transfer, sell, assign, pledge, hypothecate, or otherwise encumber or dispose of in any
way (for the purposes of this Section 21, a “Transfer”) to one or more third parties pursuant to an understanding with
such third parties any Shares, except as otherwise provided in this Plan, the applicable Award Agreement or as required under applicable
law.

 

22. MISCELLANEOUS.

 

Whenever applicable in the Plan, the singular and the plural, and
the masculine, feminine and neuter shall be freely interchangeable, as the context requires. The Section headings or titles shall
not in any way control the construction of the language herein, such headings or titles having been inserted solely for the purpose
of simplified reference. Words such as “herein”, “hereof”, “hereto”, “hereinafter”,
“hereby”, and “hereinabove” when used in the Plan refer to the Plan as a whole, including any applicable
Appendices, unless otherwise required by context.EXH  4.05 - LTEP2015 PLAN

Exhibit 4.05

SCANA Corporation
Long-Term Equity Compensation Plan

Effective February 19, 2015

Contents

Section 1. Establishment, Objectives and Duration................................................................................ 2

Section 2. Definitions.............................................................................................................................. 3

Section 3. Administration ....................................................................................................................... 7

Section 4. Shares Subject to the Plan and Maximum Awards ................................................................ 7

Section 5. Eligibility and Participation ................................................................................................... 8

Section 6. Options ................................................................................................................................... 9

Section 7. Stock Appreciation Rights ................................................................................................... 10

Section 8. Restricted Stock ................................................................................................................... 11

Section 9. Restricted Stock Units.......................................................................................................... 13

Section 10. Performance Units and Performance Shares...................................................................... 14

Section 11. Performance Measures....................................................................................................... 15

Section 12. Beneficiary Designation..................................................................................................... 16

Section 13. Rights of Employees .......................................................................................................... 17

Section 14. Change in Control .............................................................................................................. 17

Section 15. Amendment, Modification and Termination ..................................................................... 17

Section 16. Withholding ....................................................................................................................... 18

Section 17. Indemnification .................................................................................................................. 18

Section 18. Successors .......................................................................................................................... 18

Section 19. Legal Construction............................................................................................................. 19

Section 20. Code Section 409A ............................................................................................................ 19

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SCANA Corporation
Long-Term Equity Compensation Plan

Effective February 19, 2015

Section 1. Establishment, Objectives and Duration

1.1     Establishment of the Plan.

(a)     SCANA Corporation, a South Carolina corporation ("SCANA"), hereby establishes this incentive compensation plan to be known as the "SCANA  Corporation Long-Term Equity Compensation Plan" (the "Plan"). The Plan permits the grant of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares, and Performance Units to Eligible Employees.

(b)     The Plan became effective on February 19, 2015 (the "Effective Date"), which is the date the Board initially approved the Plan. Notwithstanding the foregoing, the following limitations apply to Awards that are granted prior to the approval of the Plan by SCANA's shareholders in accordance with applicable law and listing requirements ("Shareholder Approval"):

(i)     Any Award that is designed to qualify for the Performance-Based Exception and that is granted to a Covered Employee will be granted contingent on Shareholder Approval prior to the date of vesting and/or payout of the Award;

(ii)     No Awards of Restricted Stock may be granted; and

(iii)     No Awards may be granted that may be settled in Shares unless such Awards are granted contingent on Shareholder Approval prior to the date of vesting and/or payout of the Award.

1.2     Objectives of the Plan. The objectives of the Plan are to (a) optimize the profitability and growth of the Company through long-term incentives that are consistent with the Company's goals and that align the personal interests of Participants to those of SCANA's shareholders; (b) provide Participants with an incentive for excellence in individual performance; and (c) promote teamwork among Participants. The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services of Participants who make significant contributions to the Company's  success and to allow Participants to share in the Company's success.

1.3     Duration of the Plan. The Plan will become effective on the Effective Date and will remain in effect, subject to the right of the Committee to amend or terminate the Plan at any time pursuant to Section 15, until the earlier of February 19, 2025, or until all Shares available for issuance under the Plan have been issued, purchased or acquired according to the Plan's terms. In no event may an Award be granted under the Plan more than ten years after the Effective Date.

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Section 2. Definitions

Whenever used in the Plan, the following terms will have the meanings set forth below, and when the meaning is intended, the initial letter of the word will be capitalized:

2.1     "Award" means, individually or collectively, a grant under the Plan of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares, or Performance Units.

2.2    "Award Agreement" means an agreement entered into between SCANA and each
Participant setting forth the terms and conditions applicable to Awards.

2.3     "Beneficial Owner" or "Beneficial Ownership" will have the meaning ascribed to the term in Rule 13d-3 under the Exchange Act.

2.4     "Board" means the Board of Directors of SCANA.

2.5     "Cause" means:

(a)     Willful and continued failure by a Participant to substantially perform his or her duties with the Company after a demand for substantial performance is delivered to the Participant that specifically identifies the manner in which the Company believes that the Participant has not substantially performed his or her duties, and the Participant has failed to resume substantial performance of his or her duties on a continuous basis within 14 days of receiving such demand;

(b)     The willful engaging by a Participant in conduct that is demonstrably and materially injurious to the Company, monetarily or otherwise; or

(c)     A Participant's conviction of a felony or conviction of a misdemeanor that impairs his or her ability substantially to perform his or her duties with the Company.

For purposes of this Section 2.5, no act, or failure to act, on a Participant's part will be deemed "willful" unless done, or omitted to be done, by a Participant not in good faith and without reasonable belief that the Participant's action or omission was in the best interest of the Company.

2.6    "Change in Control" means a change in control of SCANA of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A under the Exchange Act, whether or not SCANA is then subject to such reporting requirement; provided, however, that, without limitation, a Change in Control will be deemed to have occurred if:

(a)     Any Person is or becomes the Beneficial Owner, directly or indirectly, of25% or more of the combined voting power of the outstanding shares of capital stock of SCANA;

(b)     During any period of two consecutive years, there ceases to be a majority of the Board comprised as follows: individuals who at the beginning of such period constitute the Board and any new Directors whose election by the Board or nomination for election by SCANA's shareholders was approved by a vote of at least two-thirds (2/3rds) of the Directors then still in office who either were

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Directors at the beginning of the period or whose election or nomination for election was previously so approved;

(c)     The consummation of a merger or consolidation of SCANA with any other corporation, other than a merger or consolidation that would result in the voting shares of capital stock of SCANA outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting shares of capital stock of the surviving entity) at least 80% of the
combined voting power of the voting shares of capital stock of SCANA or such surviving entity outstanding immediately after such merger or consolidation; or the shareholders of SCANA approve a plan of complete liquidation of SCANA or an agreement for the sale or disposition by SCANA of all or substantially all of SCANA's  assets; or

(d)     The consummation of the sale of the stock of any subsidiary of SCANA designated by the Board as a "Material Subsidiary"; or the shareholders of SCANA approve a plan of complete liquidation of a Material Subsidiary or an agreement for the sale or disposition by SCANA of all or substantially all of the assets of a Material Subsidiary; provided that any event described in this subsection will represent a Change in Control only with respect to a Participant who has been exclusively assigned to the affected Material Subsidiary.

2.7     "Code" means the Internal Revenue Code of 1986, as amended.

2.8     "Committee" means any committee appointed by the Board to administer Awards to Employees, as specified in Section 3. Any such committee will be comprised entirely of Directors who satisfy the "outside director" requirements of Code Section 162(m) and who are "Non-Employee Directors" as defined in Rule 16b-3 under the Exchange Act.

2.9     "Company" means SCANA and all of its Subsidiaries.

2.10 "Covered Employee" means a Participant who, as of the date of vesting and/or payout of an Award, as applicable, is one of the group of "covered employees," as defined in the regulations promulgated under Code Section 162(m).

2.11 "Director" means any individual who is a member of the Board.

2.12 "Disability" will have the meaning ascribed to that term in the Participant's governing long­ term disability plan, or if no such plan exists, by the Committee, except as otherwise provided in an Award Agreement.

2.13 "Effective Date" will have the meaning ascribed to that term in Section 1.1.

2.14   "Eligible Employee" means an Employee who is anticipated to be a significant contributor to the success of the Company as determined by the Committee upon or without the recommendation of officers of the Company.

2.15 "Employee" means any employee of the Company. Directors who are employed by the
Company will be considered Employees under the Plan.

2.16 "Exchange Act" means the Securities Exchange Act of 1934, as amended.

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2.17  "Fair Market Value" will be determined on the basis of the closing sale price of a Share on the principal securities exchange on which the Shares are traded on the relevant date or, if there is no such sale on the relevant date, then on the last previous day on which a sale was reported, except that as to the cashless exercise of Nonqualified Stock Options pursuant to Section 6.6, the "Fair Market Value" of Shares for determining the compensation amount recognized by the Participant will be the actual trade price on the principal securities exchange of Shares sold to provide cash to Participants.
2.18  "Freestanding SAR" means a SAR that is granted independently of any Option, as described in Section 7.
2.19  "Good Reason" means, without the Participant's written consent, the occurrence after a
Change in Control of the Company of any one or more of the following: 
		
	(a) 
	A material diminution in the Participant's base salary;

		
	(b) 
	A material diminution in the Participant's authority, duties, or responsibilities;

		
	(c) 
	A material diminution in the authority, duties, or responsibilities  of the supervisor to whom the Participant is required to report, including a requirement that the Participant report to a Company officer or Employee instead of reporting directly to the Board;

		
	(d) 
	A material diminution in the budget over which the Participant retains authority;

		
	(e) 
	A material change in the geographic location at which the Participant must perform the services; and

		
	(f) 
	Any other action or inaction that constitutes a material breach by the Company of the agreement under which the Participant provides services.

Provided, however, that the Participant must give written notice to the Company within 30 days of the initial existence of any of the foregoing conditions that gives rise to Good Reason, the Company will have 30 days upon receipt of such notice to remedy the condition so as to eliminate the Good Reason, and if not remedied, the Participant's  employment must terminate no later than 60 days following the expiration of such cure period. Notwithstanding  the foregoing, the Participant's continued employment will not constitute a waiver of the Participant's rights with respect to any circumstance constituting Good Reason under this Award Agreement.
2.20  "Incentive Stock Option" or "ISO" means an option to purchase Shares granted under Section 6 that is designated as an Incentive Stock Option and that is intended to meet the requirements of Code Section 422.
2.21  "Nonqualified Stock Option" or "NQSO" means an option to purchase Shares granted under Section 6 that is not intended to meet the requirements of Code Section 422.
2.22  "Option" means an Incentive Stock Option or a Nonqualified Stock Option.
2.23  "Option Price" means the price at which a Share may be purchased by a Participant upon exercise of an Option. 

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2.24  "Participant" means an Eligible Employee who has been granted an Award or who has outstanding an Award.

2.25  "Performance-Based  Exception" means the performance-based  compensation exception from the tax deductibility limitations of Code Section 162(m).

2.26  "Performance Share" means an Award granted to a Participant, as described in Section 10, which will have an initial value equal to the Fair Market Value of a Share on the date of grant.

2.27  "Performance Unit" means an Award granted to a Participant, as described in Section 10, which will have an initial value that is established by the Committee on the date of grant.

2.28  "Person" will have the meaning ascribed to that term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) of the Exchange Act, including a "group" as defined in
Section 13(d) of the Exchange Act.

2.29  "Restricted Stock" means an Award of Shares granted to a Participant under Section 8.

2.30  "Restricted Stock Unit" or "RSU" means an Award granted to a Participant under Section 9 that represents a notional investment equivalent to one Share and, as a result, a Participant does not acquire any form of voting or other right attributable to an actual Share.

2.31  "Restriction Period" means the period during which the transfer of Shares of Restricted Stock is limited in some way (e.g., based on the passage of time, the achievement of performance goals, or the occurrence of other events as determined by the Committee, in its discretion), or the vesting of RSUs is subject to the continuation of the Participant's employment with the Company, and the Shares of Restricted Stock or RSUs, as applicable, are subject to a substantial risk of forfeiture, as provided in Section 8 and Section 9.

2.32  "Retirement" means a Termination of Employment of a Participant on or after the date that the Participant has both reached age 55 and completed at least 20 years of Vesting Service (as defined in the SCANA Corporation Retirement Plan), or on or after the date that the Participant has reached age 65, except as otherwise provided in an Award Agreement.

2.33  "Shares" means the shares of common stock of SCANA.

2.34   "Stock Appreciation Right" or "SAR" means an Award under Section 7, which is granted alone or in connection with a related Option and designated as a SAR.

2.35  "Subsidiary" means any corporation, partnership, joint venture, or other entity in which
SCANA has a majority voting interest.

2.36  "Tandem SAR" means a SAR that is granted under Section 7 in connection with a related Option, the exercise of which will require forfeiture of the right to purchase a Share under the related Option (and when a Share is purchased under the Option, the Tandem SAR will similarly be canceled).

2.37  "Termination of Employment" means, subject to the terms of Section 20 as applicable to a
Section 409A Covered Award (as defined in Section 20), a termination of the Participant's 

7

employment with the Company, including, without limitation, a termination of the Participant's employment that occurs as a result of a corporate transaction pursuant to which the Participant's employer ceases to be a Subsidiary, except as otherwise provided by the Committee.

Section 3. Administration

3.1    General. The Committee shall administer the Plan. The members of the Committee will be appointed from time to time by, and shall serve at the discretion of, the Board. The Committee will have the authority to delegate administrative duties to officers of the Company.

3.2    Authority of the Committee. Except as limited by law or by the Articles of Incorporation  or Bylaws of SCANA, and subject to the terms of the Plan, the Committee will have full power and authority to: (a) select Eligible Employees who will participate in the Plan; (b) determine the sizes and types of Awards; (b) determine the terms and conditions of Awards in a manner consistent with the Plan; (c) construe and interpret the Plan, any Award Agreement, and any agreement or instrument entered into under the Plan; (d) establish, amend, or waive rules and regulations for the Plan's administration; and (e) subject to the terms of Section 15, amend the terms and conditions of any outstanding Award, including, without limitation, to accelerate the time or manner of vesting of Awards. Further, the Committee shall make all other determinations that may be necessary or advisable for the administration of the Plan.

3.3    Decisions Binding. All determinations and decisions made by the Committee pursuant to the
Plan and all related orders and resolutions of the Committee will be final, conclusive and binding on all persons, including, without limitation, SCANA, its shareholders, Directors, Eligible Employees, Participants and their estates and beneficiaries.

Section 4. Shares Subject to the Plan and Maximum Awards

4.1    Number of Shares Available for Grants. Subject to adjustment as provided in Section 4.2, the number of Shares reserved for issuance under the Plan will be 5,000,000 Shares, which may be either authorized and unissued Shares or Shares held in or acquired for the treasury of SCANA or both; provided, however, that no more than 1,000,000 Shares may be granted in the form of Restricted Stock and no more than 5,000,000 Shares may be granted in the form of lncentive Stock Options.
Subject to any increase or decrease pursuant to Section 4.3, the following limitations apply to grants of
Awards under the Plan:

(a)     Options: The maximum aggregate number of Shares subject to Options that may be granted in any one calendar year to any one single Participant will be 300,000 Shares.

(b)     SARs: The maximum aggregate number of Shares subject to SARs that may be granted in any one calendar year to any one single Participant will be 300,000 Shares.

(c)     Restricted Stock and RSUs: The maximum aggregate grant with respect to Awards of Restricted Stock and Restricted Stock Units that may be granted in any one calendar year to any one Participant will be 150,000 Shares or the value of 150,000 Shares, taking into account all grants of Restricted Stock and Restricted Stock Units.

8

(d)     Performance Shares: The maximum aggregate payout (determined as of the end of the applicable Performance Period (as defined in Section 10.3)) with respect to Awards of Performance Shares that may be granted in any one calendar year to any one Participant will be equal to the value of 200,000 Shares.

(e)     Performance Units: The maximum aggregate payout (determined as of the end of the applicable Performance Period) with respect to Awards of Performance Units that may be granted in any one calendar year to any one Participant will be equal to $1,000,000.

4.2     Adjustments for Awards and Payouts.

(a)     Unless otherwise determined by the Committee, the following Awards and payouts will reduce, on a one-for-one basis, the number of Shares available for issuance under the Plan: (i) an Award of an Option; (ii) an Award of a SAR (except a Tandem SAR); (iii) an Award of Restricted Stock; (iv) a payout of a Performance Share Award in Shares; and (v) a payout of a Performance Unit Award in Shares.

(b)     Unless a Participant has received a benefit of ownership such as dividend or voting rights with respect to an Award, the following transactions will restore, on a one-for-one basis, the number of Shares available for issuance under the Plan: (i) a payout of a SAR, Tandem SAR, or Restricted Stock Award in the form of cash; and (ii) a cancellation, termination, expiration, forfeiture or lapse for any reason (with the exception of the termination of a Tandem SAR upon exercise of the related Option, or the termination of a related Option upon exercise of the corresponding Tandem SAR) of any Award payable in Shares.

(c)     For the avoidance of doubt, a payout of a SAR in the form of Shares will not restore the number of Shares available for issuance under the Plan under Section 4.2(b). Consequently, the total number of Shares underlying a SAR that is settled in the form of Shares, regardless of whether the Shares underlying the SAR are actually issued to the Participant as a result of net settlement of the SAR, will reduce, on a one-for-one basis, the number of Shares available for issuance under the Plan under Section 4.2(a).

4.3     Adjustments in Authorized Shares. In the event of any change in corporate capitalization, such as a stock split, or a corporate transaction, such as any merger, consolidation, separation, including a spin-off, or other distribution of stock or property of SCANA, any reorganization (whether or not such reorganization comes within the definition of such term in Code Section 368) or any
partial or complete liquidation of SCANA, adjustments will be made in the number and class of
Shares that may be delivered under Section 4.1, in the number and class of and/or price of Shares subject to outstanding Awards, and in the Award limits set forth in Section 4.1, all as may be determined to be appropriate and equitable by the Committee, in its sole discretion, to prevent dilution or enlargement of rights; provided, however, that the number of Shares subject to any Award will always be a whole number.

Section 5. Eligibility and Participation

5.1     Eligibility. Persons eligible to participate in the Plan are those Employees who the
Committee designates as Eligible Employees. In no event, however, will any ISOs be granted to any

9

person who owns more than 10% of the total combined voting power of all classes of stock of
SCANA.

5.2     Actual Participation. Subject to the terms of the Plan, the Committee may, from time to time, select in its sole and broad discretion, upon or without the recommendation  of officers of the Company, from all Eligible Employees, those to whom Awards will be granted and shall determine the nature and amount of each Award.

Section 6. Options

6.1    Grant of Options. Subject to the terms of the Plan, Options may be granted to Participants in such number, and upon such terms, and at any time and from time to time as determined by the Committee.

6.2     Award Agreement. Each Option grant will be evidenced by an Award Agreement that will specify the Option Price, the term and expiration date of the Option, the number of Shares to which the Option pertains, and such other provisions as the Committee determines. The Award Agreement also will specify whether the Option is intended to be an ISO or an NQSO.

6.3    Option Price. The Option Price for each grant of an Option will be at least equal to 100%
of the Fair Market Value of a Share on the date the Option is granted.

6.4     Duration of Options. Each Option will expire at such time as the Committee determines at the time of grant; provided, however, that no Option will be exercisable later than the tenth anniversary after the date the Option is granted.

6.5     Exercise of Options. Options will vest and be exercisable at such times and be subject to such restrictions and conditions as the Committee shall in each instance approve, which need not be the same for each grant or for each Participant; provided, however, that no Option (or portion of an
Option) will vest and be exercisable earlier than one year after the date of grant, subject to acceleration
of vesting and exercisability, as may be specified by the Committee in its sole discretion in the terms of any Option Award Agreement upon the occurrence of a specified event.

6.6     Payment of Option Price and Delivery of Shares upon Exercise.

(a)     Options may be exercised by the delivery of a written notice of exercise to SCANA, setting forth the number of Shares with respect to which the Option is to be exercised and accompanied by full payment for the Shares.

(b)     The Option Price upon exercise of any Option will be payable to SCANA in full either: (i) in cash or its equivalent; (ii) if permitted by the Award Agreement, by tendering previously
acquired Shares having an aggregate Fair Market Value at the time of exercise equal to the total
Option Price (provided that the Shares that are tendered must have been held by the Participant for at least six months prior to their tender to satisfy the Option Price); or (iii) if permitted by the Award Agreement, by a combination of (i) and (ii). The Committee also may allow cashless exercise as permitted under the Federal Reserve Board's  Regulation T, subject to applicable securities law restrictions, or by any other means that the Committee determines to be consistent with the Plan's purpose and applicable law.

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       (c)    Subject to any governing rules or regulations, as soon as practicable after receipt of a    
written notification of exercise and full payment, SCANA shall deliver to the Participant, in the
Participant's name, certificates evidencing the number of Shares purchased under the Option.

6.7     Restrictions on Share Transferability. The Committee may impose such restrictions on
any Shares acquired pursuant to the exercise of an Option as it may deem advisable, including, without limitation, restrictions under applicable federal securities laws, under the requirements  of any stock exchange or market upon which the Shares are then listed or traded, and under any blue sky or state securities laws applicable to the Shares.

6.8     Termination of Employment. Each Participant's Option Award Agreement will set forth
the extent to which the Participant will have the right to exercise the Option following the Participant's Termination  of Employment. Such provisions will be determined in the sole discretion of the Committee, will be included in the applicable Award Agreement, need not be uniform among all Options or for all Participants, and may reflect distinctions based on the reasons for the Participant's Termination  of Employment.

6.9     Nontransferability of Options. No Option may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Further, all Options granted to a Participant will be exercisable during the Participant's lifetime only by the Participant or the Participant's legal representative.

Section 7. Stock Appreciation Rights

7.1     Grant of SARs.

(a)     Subject to the terms of the Plan, SARs may be granted to Participants at any time and from time to time as determined by the Committee. The Committee may grant Freestanding SARs, Tandem SARs or any combination of these forms of SARs. The Committee will have complete discretion in determining the number of Shares underlying SARs granted to each Participant (subject to Section 4) and, consistent with the terms of the Plan, in determining the terms and conditions pertaining to SARs.

(b)     The grant price of a Freestanding SAR will equal the Fair Market Value of a Share on the date of grant of the SAR. The grant price of Tandem SARs will equal the Option Price of the related Option.

7.2     Exercise of Tandem SARs.

(a)     Tandem SARs may be exercised for all or part of the Shares subject to the related Option upon the surrender of the right to exercise the equivalent portion of the related Option. A Tandem SAR may be exercised only with respect to the Shares for which its related Option is then exercisable.

(b)     Notwithstanding any other provision of the Plan to the contrary, with respect to a Tandem SAR granted in connection with an ISO: (i) the Tandem SAR will expire no later than the expiration of the underlying ISO; (ii) the value of the payout with respect to the Tandem SAR may be for no more than 100% of the difference between the Option Price of the underlying ISO and the Fair 

11

Market Value of the Shares subject to the underlying ISO at the time the Tandem SAR is exercised;
and (iii) the Tandem SAR may be exercised only when the Fair Market Value of the Shares subject to the ISO exceeds the Option Price of the ISO.

7.3     Exercise of Freestanding SARs. Freestanding SARs may be exercised upon whatever terms and conditions the Committee, in its sole discretion, imposes upon them and describes in the
applicable Award Agreement; provided, however, that no Freestanding SAR (or portion of a
Freestanding SAR) will vest and be exercisable earlier than one year after the date of grant, subject to acceleration of vesting and exercisability, as may be specified by the Committee in its sole discretion in the terms of any SAR Award Agreement upon the occurrence of a specified event.

7.4     SAR Agreement. Each SAR grant will be evidenced by an Award Agreement that will specify the grant price, the term of the SAR, and such other terms as the Committee determines.

7.5     Term of SARs. The term of a SAR granted under the Plan will be determined by the
Committee, in its sole discretion; provided, however, that such term will not exceed ten years.

7.6     Payment of SAR Amount. Upon exercise of a SAR, a Participant will be entitled to receive payment from the Company in an amount determined by multiplying: (a) the difference between the Fair Market Value of a Share on the date of exercise over the grant price; by (b) the number of Shares with respect to which the SAR is exercised. At the discretion of the Committee, the payment upon SAR exercise may be in cash, in Shares of equivalent value, or in some combination of cash and Shares. The Committee's determination regarding the form of SAR payout will be set forth in the applicable Award Agreement.

7.7     Termination of Employment. Each Participant's SAR Award Agreement will set forth the extent to which the Participant will have the right to exercise the SAR following the Participant's Termination  of Employment. Such provisions will be determined in the sole discretion of the Committee, will be included in the applicable Award Agreement, need not be uniform among all SARs or for all Participants, and may reflect distinctions based on the reasons for the Participant's Termination of Employment.

7.8     Nontransferability of SARs. No SAR may be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Further, all SARs granted to a Participant will be exercisable during the Participant's lifetime only by the Participant or the Participant's legal representative.

Section 8. Restricted Stock

8.1     Grant of Restricted Stock. Subject to the terms of the Plan, the Committee, at any time and from time to time, may grant Shares of Restricted Stock to Participants in such amounts and upon such terms as the Committee determines.

8.2     Restricted Stock Agreement. Each Restricted Stock grant will be evidenced by a Restricted Stock Award Agreement that specifies the Restriction Period, the number of Shares of Restricted Stock granted, and such other terms as the Committee determines. 

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8.3    Nontransferability. Except as provided in this Section 8, the Shares of Restricted Stock may
not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated until the end of the applicable Restriction Period, or upon earlier satisfaction of any other conditions, as specified by the Committee in its sole discretion and set forth in the Restricted Stock Award Agreement. All rights with respect to the Restricted Stock granted to a Participant will be available during his or her lifetime only to such Participant (or the Participant's legal representative) for the Restriction Period.

8.4     Other Restrictions.

(a)     Subject to Section 10, the Committee will impose such other conditions or restrictions on any Shares of Restricted Stock granted under the Plan as it may deem advisable including, without limitation, a requirement that Participants pay a stipulated purchase price for each Share of Restricted Stock, restrictions based upon the achievement of specific performance goals (SCANA, Company­ wide, divisional, or individual), time-based restrictions on vesting following the attainment of the performance goals, or restrictions under applicable federal or state securities laws.

(b)     Notwithstanding the foregoing, Shares of Restricted Stock that will vest no earlier than one year after the date of grant, subject to acceleration of vesting, as may be specified by the Committee in its sole discretion in the terms of any Restricted Stock Award Agreement upon the occurrence of a specified event.

(c)     The Company may retain the certificates representing Shares of Restricted Stock in the Company's possession until such time as all conditions and/or restrictions applicable to the Shares have been satisfied.

(d)     Except as otherwise provided in this Section 8, Shares of Restricted Stock covered by each Restricted Stock Award will become freely transferable by the Participant after the last day of the applicable Restriction Period.

8.5    Voting Rights. Participants holding Shares of Restricted Stock may be granted the right to exercise full voting rights with respect to those Shares during the Restriction Period.

8.6    Dividends and Other Distributions. During the Restriction Period, Participants holding Shares of Restricted Stock may be credited with regular cash dividends with respect to such Shares or the Committee may apply any restrictions to the crediting of dividends that the Committee deems appropriate. Without limiting the generality of the preceding sentence, if the grant or vesting of Restricted Stock granted to a Covered Employee is designed to comply with the requirements of the Performance-Based Exception, the Committee may apply any restrictions it deems appropriate to the crediting of dividends declared with respect to such Restricted Stock, such that the dividends and/or the Restricted Stock maintain eligibility for the Performance-Based Exception. Notwithstanding anything to the contrary in the Plan, dividends accrued on Restricted Stock will be paid only if the Restricted Stock vests.

8.7     Termination of Employment. Each Restricted Stock Award Agreement will set forth the extent to which the Participant will have the right to vest in Restricted Stock following the
Participant's Termination of Employment. Such provisions will be determined in the sole discretion of
the Committee, will be included in the applicable Award Agreement, need not be uniform among all
Shares of Restricted Stock or for all Participants, and may reflect distinctions based on the reasons for

13

termination; provided, however, that, except in the cases of a Termination of Employment connected with a Change in Control and a Termination of Employment by reason of death or Disability, the vesting of Shares of Restricted Stock that qualify for the Performance-Based  Exception and that are held by Covered Employees will occur at the time the vesting otherwise would have, but for the Termination of Employment.

Section 9. Restricted Stock Units

9.1     Grant of RSUs.  Subject to the terms of the Plan, the Committee, at any time and from time to time, may grant RSUs to Participants in such amounts and upon such terms as the Committee determines.

9.2     RSU Agreement. Each RSU grant will be evidenced by a Restricted Stock Unit Award Agreement that specifies the Restriction Period, the number of RSUs granted, and such other terms as the Committee determines.

9.3     Value of RSU. Each RSU will have a value that is equal to 100% of the Fair Market Value of a Share on the date of grant.

9.4     Vesting of RSUs. Unless the Award Agreement provides otherwise, RSUs will vest 100% upon the third anniversary of the grant date, subject to the Participant's  continued employment with the Company through the vesting date. Except as otherwise provided in Section 9.5 or as provided in the Participant's Award Agreement, if the RSUs have not fully vested as of the date of the Participant's Termination of Employment, the RSUs will be forfeited.

9.5     Termination of Employment Due to Death, Disability, or Retirement. In the event of a Participant's Termination of Employment on account of the Participant's  death, Disability, or Retirement prior to the date on which the RSUs would otherwise have vested under Section 9.4, the RSUs will vest as of the date set forth in the applicable Award Agreement.

9.6     Form and Timing of Payment of RSUs.  Payment of RSUs will be made in a single lump sum cash payment as soon as administratively  practicable after the applicable vesting date, and in any event payment will be made by no later than March 15 of the calendar year following the year in
which the applicable vesting date occurs. The amount of the payment will be equal to 100% of the Fair
Market Value of the RSUs on the vesting date.

9.7    Dividend Equivalents. Each RSU will be credited with an amount equal to the dividends paid on a Share between the grant date of the RSU Award and the date the value of the RSUs is paid to the Participant (if at all). Dividend equivalents will vest, if at all, upon the same terms and conditions governing the vesting of the related RSUs. Payment of the dividend equivalents will be made (if at all) at the same time as payment of the related RSU and will be made without interest or other adjustment. If the RSUs are forfeited, the Participant will have no right to dividend equivalents.

9.8    Nontransferability. RSUs may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution.

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Section 10. Performance Units and Performance Shares

10.1  Grant of Performance Units/Shares. Subject to the terms of the Plan, the Committee, at any time and from time to time, may grant Performance Units and/or Performance Shares to Participants in such amounts and upon such terms as the Committee determines.

10.2  Value of Performance Units/Shares. Each Performance Unit will have an initial value that the Committee establishes at the time of grant. Each Performance Share will have an initial value equal to 100% of the Fair Market Value of a Share on the date of grant. The Committee will set performance goals in its discretion that, depending on the extent to which they are met, will determine the number and/or value of Performance Units or Performance Shares that will be paid out to the Participant.

10.3  Earning of Performance Units/Shares. Subject to the terms of the Plan, after the applicable Performance Period has ended, the Participant who holds Performance Units or Performance Shares will be entitled to receive payout on the number and value of Performance Units or Performance
Shares earned by the Participant over the Performance Period, to be determined as a function of the
extent to which the corresponding performance goals have been achieved. For purposes of this Section
10, the time period during which the performance goals must be met, which period will not be less than one year, will be the "Performance Period."

10.4  Form and Timing of Payment of Performance Units/Shares.

(a)     Payment of earned Performance Units and Performance Shares will be made in a single lump sum following the close of the applicable Performance Period, and in any event not later than March 15 of the calendar year following the year in which the Performance Period ends. Subject to the terms of the Plan, the Committee, in its sole discretion, may pay earned Performance Units or Performance Shares in the form of cash or in Shares (or in a combination of cash and Shares) that have an aggregate Fair Market Value equal to the value of the earned Performance Units and Performance Shares at the close of the applicable Performance Period. Shares may be granted subject to any restrictions the Committee deems appropriate.

(b)     At the discretion of the Committee, Participants may be entitled to receive any dividends declared with respect to Shares that have been earned in connection with grants of Performance Shares that have been earned, but not yet distributed to Participants.

10.5  Termination of Employment Due to Death, Disability or Retirement. In the event of a Participant's Termination of Employment on account of death, Disability, or Retirement during a Performance Period, the Participant will receive a payout of the Performance Units or Performance Shares, as specified in the Participant's  Award Agreement; provided, however, that with respect to a Participant who incurs a Termination of Employment connected with a Change in Control or on account of Retirement or Disability during a Performance Period, payments will be made at the same time as payments are made to Participants who did not terminate employment during the applicable Performance Period.

10.6  Termination of Employment for Other Reasons. In the event of a Participant's
Termination  of Employment for any reason other than those reasons set forth in Section 10.5, all

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Performance Units and Performance Shares will be forfeited by the Participant unless  determined otherwise by the Committee and set forth in the Participant's Award  Agreement.

10.7  Nontransferability. Performance Units and Performance Shares  may not be sold, transferred, pledged, assigned, or otherwise alienated  or hypothecated, other than by will or by the laws of descent  and distribution. Further,  except as otherwise provided in a Participant's Award Agreement, a Participant's rights under the Plan with respect  to Performance Units and Performance Shares will be exercisable during the Participant's lifetime  only by the Participant or the Participant's legal representative.

Section 11. Performance Measures

The performance measures to be used for purposes of determining the degree  of payout  and/or vesting with respect  to Awards  to Covered  Employees that are designed to qualify  for the Performance-Based Exception, which may be measured  based on the attainment of specific  levels of performance at the SCANA level, at a subsidiary level, or at an operating unit level, will be chosen from among the following performance measures:

(a)     Profits,  including operating income,  earnings before or after income  and/or taxes, net earnings  or net income  (before  or after taxes), net operating profit (before or after taxes),  basic or diluted earnings  per share (before or after taxes), residual  or economic earnings,  economic profit, and gross profit or gross profit growth;

(b)     Cash flow, including earnings  before interest,  taxes, depreciation and amortization ("EBITDA"), operating cash flow, free cash flow, free cash flow with or without  specific  capital expenditure targets  or range (including or excluding  divestments and/or  acquisitions), total cash flow, cash flow in excess  of cost of capital, residual  cash flow, cash flow return on capital,  or cash flow return on investments (which equals net cash flow divided  by owners' equity);

(c)     Return  measures, including profits or cash flow return  on assets, capital,  invested capital, equity, and/or  sales, economic value added, and other value added measures;

   (d)         Working capital,  including working  capital targets,  and working capital  divided  by sales;

 (e)     Profit margins,  including profits divided  by revenues, gross margins, operating margins, and material  margins  divided  by revenues;
 (f)     Liquidity measures, including debt-to-capital, debt-to-EBITDA, and total debt ratio; 
 (g)     Sales growth,  gross margin  growth, cost initiative and share price metrics,  including
revenues,  revenue  growth,  gross margin  and gross margin  growth, material  margin  and material
margin growth, share price, share price appreciation, total shareholder return (including total shareholder return as compared to various stock market indices), sales and administrative costs divided by sales, and sales and administrative costs divided  by profits; and

 (h)     Strategic initiative key deliverable metrics,  including product  development, strategic partnering, research and development, vitality index, market  penetration, geographic business expansion  goals, cost targets, improvements in capital structure, budget and expense management, 

15

productivity ratios, expense targets, operating efficiency, enterprise value, safety record, customer satisfaction, employee satisfaction, management of employment practices and employee benefits, supervision of litigation and information technology, and goals related to acquisitions or divestitures of subsidiaries, affiliates, and joint ventures.

Any one or more of the performance measures may be used on an absolute or relative basis, as the Committee deems appropriate, or as compared to the performance of a group of comparable companies, or published or special index that the Committee, in its sole discretion, deems appropriate.

The Committee shall establish the objective performance goals applicable to Performance Units and Performance Shares, including, to the extent the Committee determines, from among the performance measures set forth in this Section 11, for the earning of Performance Units and Performance Shares based on a Performance Period in writing prior to the beginning of the applicable Performance Period or, to the extent the Award is designed to qualify for the Performance-Based Exception, at such later date as permitted under Section 162(m) of the Code and the applicable regulations and while the outcome of the performance goals are substantially uncertain.

The Committee shall have the discretion to adjust the determinations of the degree of attainment of the preestablished performance goals; provided, however, that Awards that are designed to qualify for the Performance-Based Exception, and that are held by a Covered Employee, may not be adjusted upward (the Committee will retain the discretion to adjust such Awards downward).

In the event that applicable tax and/or securities laws change to permit the Committee discretion to alter the governing performance measures without obtaining shareholder approval of such changes, the Committee will have sole discretion to make such changes without obtaining shareholder approval. In addition, in the event that the Committee determines that it is advisable to grant Awards that will not qualify for the Performance-Based  Exception, the Committee may make such grants to any Eligible Employee (including any Covered Employee) without satisfying the requirements of Code Section
162(m).

In the case of any Award that is granted subject to the condition that a specified performance measure be achieved, no payment under the Award will be made prior to the time that the Committee certifies in writing, by passing a written resolution, that the performance measure has been satisfied. No such certification is required, however, in the case of an Award that is based solely on an increase in the value of a Share from the date the Award was granted.

Section 12. Beneficiary Designation

Each Participant may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under the Plan is to be paid in case of his or her death before he or she receives any or all of such benefit. Each such designation will revoke all prior designations by the same Participant, will be in a form prescribed by the Company, and will be effective only when filed by the Participant in writing with the Company during the Participant's lifetime. In the absence of any such designation, benefits remaining unpaid at the Participant's death will be paid to the Participant's estate.

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Section 13. Rights of Employees

13.1     Employment or Service. Nothing in the Plan will interfere with or limit in any way the right of the Company to terminate any Participant's employment or service in any capacity with the Company at any time, nor confer upon any Participant any right to continue in the employ or service of the Company.

13.2     Participation. No Eligible Employee will have the right to be selected to receive an Award under the Plan, or, having been so selected, to be selected to receive a future Award.

Section 14. Change in Control

Notwithstanding  any provision of the Plan to the contrary, in the event of a Participant's Termination of Employment without Cause or for Good Reason during the 24-month period following a Change in Control: (a) all Options and SARs will become immediately exercisable as of the date of such Termination of Employment with respect to 100% of the Shares subject to the Options or SARs, as applicable; (b) with respect to Awards of Restricted Stock and RSUs, the Restriction Period will expire immediately as of the date of such Termination  of Employment with respect to 100% of the Shares of Restricted Stock or RSUs, as applicable; and (c) with respect to Awards of Performance Shares and Performance Units, all performance measures or other vesting criteria will be deemed achieved at 100% of target levels and all other terms and conditions will be deemed met as of the date of the Participant's Termination of Employment.

Section 15. Amendment, Modification and Termination

15.1     Amendment, Modification and Termination. Subject to the terms of the Plan, the
Committee may at any time and from time to time, alter, amend, suspend or terminate the Plan in
whole or in part for any purpose that the Committee deems appropriate and that is otherwise consistent with Code Section 409A; provided, however, no amendment will, without shareholder approval, (a) increase the total number of Shares that may be issued under the Plan or the maximum awards under the Plan as set forth in Section 4.1; (b) modify the requirements as to eligibility for benefits under the Plan; or (c) reduce the Option Price or grant price of outstanding Options or SARs or cancel outstanding Options or SARs in exchange for cash, other awards or Options or SARs with an Option Price or grant price, as applicable, that is less than the exercise price of the original Options or SARs.

15.2     Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events. The Committee may make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring  events (including, without limitation,
the events described in Section 4.3) affecting the Company or the financial statements of the Company or of changes in applicable laws, regulations, or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement  of the benefits or potential benefits intended to be made available under the Plan; provided, however, that, unless the Committee determines otherwise at the time such adjustment is considered, no such adjustment will be authorized to the extent that such authority would be inconsistent with the Plan's meeting the requirements of Code Sections 162(m) and 409A.

15.3     Awards Previously Granted. Notwithstanding  any other provision of the Plan to the contrary (but subject to Section 15.2), no termination, amendment, or modification of the Plan will  

17

adversely affect in any material way any Award previously granted under the Plan, without the written consent of the Participant holding such Award.

15.4    Compliance with Code Section 162(m). At all times when Code Section 162(m) is applicable, all Awards granted under the Plan to Covered Employees will comply with the requirements of Code Section 162(m); provided, however, that in the event the Committee determines that such compliance is not desired with respect to any Award or Awards available for grant under the Plan, then compliance with Code Section 162(m) will not be required. In addition, in the event that changes are made to Code Section 162(m) to permit greater flexibility with respect to any Award or Awards available under the Plan, the Committee may, subject to this Section 15, make any adjustments it deems appropriate.

Section 16. Withholding

16.1     Tax Withholding. The Company will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of the Plan.

16.2    Share Withholding. With respect to withholding required upon the exercise of Options or SARs, upon the lapse of restrictions on Restricted Stock, or upon any other taxable event arising as a result of Awards, Participants may elect, subject to the approval of the Committee, to satisfy the withholding requirement, in whole or in part, by having SCANA withhold Shares having a Fair Market Value on the date the tax is to be determined equal to the minimum statutory total tax that could be imposed on the transaction. All such elections will be irrevocable, made in writing, and signed by the Participant, and will be subject to any restrictions or limitations that the Committee, in its sole discretion, deems appropriate.

Section 17. Indemnification

Each person who is or will have been a member of the Committee, or of the Board, will be indemnified and held harmless by SCANA against and from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the Plan and against and from any and all amounts paid by him or her in settlement thereof, with SCANA's approval, or paid by him or her in satisfaction of any judgment in any such action, suit or proceeding against him or her, provided he or she shall give SCANA an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification will not be exclusive of any other rights of indemnification to which such persons may be entitled under SCANA's Articles of lncorporation or Bylaws, as a matter of law, or otherwise, or any power that SCANA may have to indemnify them or hold them harmless.

Section 18. Successors

All obligations of SCANA under the Plan with respect to Awards granted under the Plan will be binding on any successor to SCANA.  

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Section 19. Legal Construction

19.1     Gender and Number. Except where otherwise indicated by the context, any masculine term used in the Plan also will include the feminine; the plural will include the singular and the singular will include the plural.

19.2     Severability. In the event any provision of the Plan is held illegal or invalid for any reason, the illegality or invalidity will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as if the illegal or invalid provision had not been included.

19.3    Requirements of Law. The granting of Awards and the issuance of Shares under the Plan will be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.

19.4     Securities Law Compliance. With respect to officers and directors of the Company subject to Section 16 of the Exchange Act, transactions under the Plan are intended to comply with all applicable conditions of Rule 16b-3 or its successors under the Exchange Act. To the extent any provision of the Plan or action by the Committee fails to so comply, it will be deemed null and void, to the extent permitted by law and deemed advisable by the Committee.

19.5    Governing Law. To the extent not preempted by federal law, the Plan, and all agreements hereunder, will be construed in accordance with and governed by the laws of the State of South Carolina.

Section 20. Code Section 409A

20.1     Although SCANA does not guarantee the particular tax treatment of any Award, Awards granted under the Plan are intended to comply with, or be exempt from, the applicable requirements  of Code Section 409A to the extent necessary to avoid adverse tax consequences under Code Section
409A and the Plan and any Award Agreement will be limited, construed and interpreted in accordance
with such intent. In no event whatsoever will SCANA or any of its affiliates be liable for any additional tax, interest or penalties that may be imposed on a Participant as a result of Code Section
409A or any damages for failing to comply with Code Section 409A.

20.2     Notwithstanding anything in the Plan or in an Award Agreement to the contrary, the following provisions will apply to any Award granted under the Plan that constitutes "nonqualified deferred compensation" under Code Section 409A (a "Section 409A Covered Award"):

(a)     A Termination of Employment will not be deemed to have occurred for purposes of any provision of a Section 409A Covered Award providing for payment upon or following a Participant's Termination of Employment unless that termination is also a "separation from service" within the meaning of Code Section 409A and, for purposes of any such provision of the Section 409A Covered Award, references to a "Termination of Employment," "termination," "termination of employment" or like terms will mean "separation  from service."

(b)     If the Participant is deemed on the date of the Participant's Termination of Employment to be a "specified employee" within the meaning of that term under Code Section 409A(a)(2)(B)  and identified in accordance with procedures adopted by the Committee that reflect the requirements of  

19

Code Section 409A(a)(2)(B) and applicable guidance thereunder, then with regard to any such payment under a Section 409A Covered Award, to the extent required to be delayed in compliance with Code Section 409A(a)(2)(B), such payment will not be made prior to the earlier of (a) the
expiration of the six-month period measured from the date of the Participant's separation from service, and (b) the date of the Participant's  death. All payments delayed pursuant to this paragraph will be
paid to the Participant on the first day of the seventh month following the date of the Participant's separation from service or, if earlier, on the date of the Participant's death.

(c)     If a Change in Control constitutes a payment event with respect to any Section 409A Covered Award, the transaction or event described in Section 2.6 will constitute a Change in Control for purposes of the payment timing of the Section 409A Covered Award only if the transaction also constitutes a "change in control event," as defined in Treasury Regulations Section 1.409A-3(i)(5).

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IN WITNESS WHEREOF, the Corporation has caused this SCANA Long-Term Equity Compensation Plan to be executed by its duly authorized officer this 19th day of February, 2015 to be effective as of the dates specified herein.

SCANA CORPORATION 

		
	By: 
	/s/Martin K. Phalen

Title:  Senior Vice President, Administration

ATTEST:

/s/Gina Champion
Corporate Secretary

21

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