Document:

Exhibit
10.b

 

DPL
INC.

PARTICIPATION
AGREEMENT

 

This PARTICIPATION AGREEMENT (“Agreement”) is
entered into this 14th day of May, 2010 (the “Effective Date”) among
DPL Inc., an Ohio corporation (“DPL”), The Dayton Power and Light Company, an
Ohio corporation (“DP&L”) (collectively, the “Company”), and Bryce W. Nickel (“Executive”).

 

WHEREAS, DPL has an executive compensation program
(the “Program”), generally effective as of January 1, 2006;

 

WHEREAS, the Program provides benefits pursuant to
the following plans which have been approved by the Compensation Committee of
the Board of Directors of the Company (the “Committee”) and adopted by the
Board of Directors of the Company (the “Board”): the DPL Inc. Severance Pay and
Change of Control Plan, the DPL Inc. Supplemental Executive Defined
Contribution Retirement Plan, the DPL Inc. 2006 Equity and Performance
Incentive Plan, the DPL Inc. Executive Incentive Compensation Plan (the “EICP”),
the DPL Inc. 2006 Deferred Compensation Plan for Executives and the DPL Inc.
Pension Restoration Plan (collectively, the “Plans”);

 

WHEREAS, Executive’s participation in the Plans and
eligibility for the benefits provided thereunder requires execution of this
Agreement; and

 

WHEREAS, the Company desires to provide Executive
benefits in addition to those provided by the Program, as described herein.

 

NOW THEREFORE, in consideration of the promises and
agreements contained herein and other good and valuable consideration, the
sufficiency and receipt of which are hereby acknowledged, and intending to be
legally bound, Executive agrees as follows:

 

1.             Effective
Date.  This Agreement is effective on
the Effective Date and will continue in effect as provided herein.

 

2.             Participation
in the Plans.  The Company confirms
that Executive has been designated by the Committee and the Board to
participate in each of the Plans pursuant to the terms thereof contingent on
his execution of this Agreement.  The
Company and the Executive agree that, in light of the Board’s modification of
excise tax eligibility under the Severance and Change of Control Plan, the
Executive will not be eligible to receive any excise tax gross-ups under the
Severance and Change of Control Plan. 
The Executive is eligible to receive additional benefits as such are
provided to other similarly situated employees of the Company from time to
time.

 

3.             Remaining
Rights.  Notwithstanding the terms of
Section 2, Executive and DPL hereby agree that nothing in this Agreement
negates or diminishes the Executive’s right (a) to receive cash payouts
under any stock incentive units awarded under the DP&L Management Stock
Incentive Plan, as described in and subject to the terms and conditions
contained in the Letter between DPL and Executive, April 27, 2001, a copy
of which is attached as Exhibit A; and (b) to purchase from DPL, to
the extent not yet purchased, up to a total of 30,000 common shares of DPL at
an exercise price of $29 5/8 per share pursuant to the terms of Executive’s
Management Stock Option Agreement, dated January 1, 2001, a copy of which
is attached hereto as Exhibit B.

 

 

 

 

3.             Perquisite
Allowance.  By executing this
Agreement, Executive shall be entitled to receive a perquisite allowance in the
amount of $20,000 per year (the “Perquisite Allowance”), for each year that (a) Executive
remains designated by the Committee as eligible to receive the Perquisite
Allowance and (b) DPL continues to make the Perquisite Allowance available
to executive-level employees of the Company. 
Executive has been designated by the Committee as eligible to receive
the Perquisite Allowance for 2010.  The
Perquisite Allowance for 2010 shall be paid as soon as practicable after the
execution of this Participation Agreement. 
The Perquisite Allowance for years after 2010 shall be paid to Executive
as soon as practicable after the Committee designates Executive as eligible to
receive the Perquisite Allowance for that year. 
The Perquisite Allowance will not be deemed “compensation,” as that term
is defined under any of the Plans, nor under any other plan, practice, program
or policy of the Company or any of its affiliates, as in effect from time to
time.

 

4.             Non-Solicitation.  As a condition to his eligibility to
participate in the Program, Executive hereby agrees that during his employment
and for a period of two years following his termination of employment with the
Company, Executive will not (a) solicit for employment with himself or any
firm or entity with which he is associated, any employee of the Company, its
subsidiaries or affiliates, or otherwise disrupt, impair, damage or interfere
with the Company’s, its subsidiaries’ or affiliates’ relationships with their
employees or (b) solicit for Executive’s own behalf or on behalf of any
other person(s), any retail customer of the Company, its subsidiaries or
affiliates, that has purchased products or services from the Company, its
subsidiaries or affiliates, at any time (i) with respect to solicitation
during employment, during the Executive’s employment or (ii) with respect
to solicitation after termination of employment, in the twelve months preceding
the date on which Executive’s employment with the Company, its subsidiaries or
affiliates is terminated or that the Company, its subsidiaries or affiliates
are actively soliciting or have known plans to solicit, for the purpose of
marketing or distributing any product, pricing or service competitive with any
product, pricing or service then offered by the Company, its subsidiaries or
affiliates or which the Company, its subsidiaries or affiliates have known
plans to offer.

 

[Signatures on the Following
Page]

 

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement on the date first written above.

 

 

	
   

  	
  DPL INC. and

  
	
   

  	
  THE DAYTON POWER AND LIGHT COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Paul M. Barbas

  
	
   

  	
   

  	
  President and Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Bryce W. Nickel

  

 

 

Exhibit A

 

Nickel SIU Letter Agreement,
dated April 27, 2001

 

 

 

Allen M.
Hill

 

President and

Chief Executive Officer

(937) 259-7205

 

April 27, 2001

 

Bryce W. Nickel

DPL Inc.

 

Dear Bryce:

 

Congratulations! The Management SIU program which
you participated in ended December 31, 2000. Your total awards, with
accrued dividends, is 12,907 SIU’s.

 

In accordance with the program, SIU’s which have
vested will be paid, in cash, in the year in which they vest. Payments will
occur on July 15 of each payout year and will be based on the average of
the last closing price of the previous three months. Attached is your vesting
schedule indicating the timing and amounts of your vested SIU’s.

 

All program requirements and criteria, including
your continuance as an employee, remain effective.

 

Again, congratulations!

 

 

	
   

  	
  Sincerely,

  
	
   

  	
  

  

 

 

DPL Inc. · P.O. Box 8815 ·  Dayton, Ohio 45401

 

 

THE DAYTON POWER &
LIGHT COMPANY

Management SIU Program

Vesting Schedule

 

Nickel, Bryce W.

 

	
   

  	
   

  	
  Award

  	
   

  	
  Vested Awards

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Year

  	
   

  	
  SIU

  	
   

  	
  2001

  	
   

  	
  2002

  	
   

  	
  2003

  	
   

  	
  2004

  	
   

  	
  2005

  	
   

  	
  2006

  	
   

  	
  2007

  	
   

  	
  2008

  	
   

  	
  2009

  	
   

  	
  2010

  	
   

  	
  Total

  	
   

  
	
   

  	
   

  	
  1995

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  0

  	
   

  
	
   

  	
   

  	
  1996

  	
   

  	
  1,800

  	
   

  	
   

  	
   

  	
  360

  	
   

  	
  360

  	
   

  	
  360

  	
   

  	
  360

  	
   

  	
  360

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  1,800

  	
   

  
	
   

  	
   

  	
  1997

  	
   

  	
  3,000

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  3,000

  	
   

  
	
   

  	
   

  	
  1998

  	
   

  	
  1,500

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  300

  	
   

  	
  300

  	
   

  	
  300

  	
   

  	
  300

  	
   

  	
  300

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  1,500

  	
   

  
	
   

  	
   

  	
  1999

  	
   

  	
  3,000

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
   

  	
   

  	
  3,000

  	
   

  
	
   

  	
   

  	
  2000

  	
   

  	
  2,500

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  500

  	
   

  	
  500

  	
   

  	
  500

  	
   

  	
  500

  	
   

  	
  500

  	
   

  	
  2,500

  	
   

  
	
   

  	
   

  	
  Dividends

  	
   

  	
  1,107

  	
   

  	
  0

  	
   

  	
  34

  	
   

  	
  91

  	
   

  	
  119

  	
   

  	
  175

  	
   

  	
  221

  	
   

  	
  187

  	
   

  	
  131

  	
   

  	
  103

  	
   

  	
  46

  	
   

  	
  1,107

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Total

  	
   

  	
  12,907

  	
   

  	
  0

  	
   

  	
  394

  	
   

  	
  1,051

  	
   

  	
  1,379

  	
   

  	
  2,035

  	
   

  	
  2,581

  	
   

  	
  2,187

  	
   

  	
  1,531

  	
   

  	
  1,203

  	
   

  	
  546

  	
   

  	
  12,907

  	
   

  

 

 

Exhibit B

 

Nickel Management Stock Option
Agreement

 

 

DPL INC.

STOCK OPTION PLAN

 

Management Stock Option
Agreement

 

This Agreement is made as of January 1, 2001
(the “Grant Date”), by and between DPL Inc., an Ohio corporation (the “Company”)
and Bryce Nickel (the “Participant”).

 

WHEREAS, the Committee, pursuant to the Company’s
Stock Option Plan (the “Plan”), has made an award to the Participant and
authorized and directed the execution and delivery of this Agreement;

 

NOW, THEREFORE, in consideration of the foregoing,
the mutual promises hereinafter set forth, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the Company and the Participant hereby agree as follows:

 

1.                                 Award.
The Participant is hereby granted a stock option (an “Option”) to purchase from
the Company up to a total of 30,000 Common Shares of the Company at $29 5/8 per
share (the “Exercise Price”). The term of such Option shall be ten years,
commencing on the Grant Date (the “Term”). This Option is not intended to
qualify as an incentive stock option under Code Section 422.

 

2.                                 Vesting and Exercise. The
Option may be exercised only in accordance with the Plan, as supplemented by
this Agreement, and not otherwise.

 

a.                                       Vesting. During
its Term and prior to its earlier termination in accordance with Section 3
of this Agreement, and subject to Section 4 of this Agreement, the Option
shall vest in accordance with the following schedule:

 

	
  Cumulative Percent 

  of Option

  	
   

  	
  Vested as of
  December 31

  
	
  20%

  	
   

  	
  2001

  
	
  40%

  	
   

  	
  2002

  
	
  60%

  	
   

  	
  2003

  
	
  80%

  	
   

  	
  2004

  
	
  100%

  	
   

  	
  2005

  

 

b.                                      Exercise. The
vested portion of the Option shall become exercisable on January 1, 2006.
The Option may be exercised for less than the full number of Shares for which
the Option is then exercisable. To the extent then exercisable, the Option may
be exercised by the Participant by giving written notice of exercise to the
Company in such form as may be provided by the Committee, specifying the number
of Shares with respect to which the Option is to be exercised and such other
information as the Committee may require. Such exercise shall be effective upon
receipt by the Company of such written notice together with the required
payment of the Exercise Price and any applicable withholding taxes.

 

 

 

c.                                       Payment of Exercise Price. Payment of the Exercise Price may be made by cash, check (subject to
collection) or, provided that the Shares have been owned by the Participant for
at least six months prior to such payment, by the delivery (or attestation of ownership)
of Shares having a Fair Market Value equal to the aggregate Exercise Price and
any applicable withholding taxes. Alternatively, the Participant may make such
payment by authorizing the simultaneous sale of Shares (or a sufficient portion
thereof) acquired upon exercise through a brokerage or similar arrangement
approved in advance by the Committee. Subject to the foregoing and except as
otherwise provided by the Committee before the Option is exercised, the Company
will deliver to the Participant, within a reasonable period of time thereafter,
a certificate or certificates representing the Shares so acquired, registered
in the name of the Participant or in accordance with other delivery
instructions provided by the Participant and acceptable to the Committee.

 

 3.                                       Termination. Except
as otherwise provided in this Section 3, the Option shall terminate upon
the expiration of its Term.

 

a.                                                 If the Participant’s employment or other service terminates for Cause,
the Option, whether or not vested, shall be forfeited.

 

b.                                                If the Participant’s employment or other service terminates for any
reason other than for Cause, the Participant shall be entitled to the then
vested portion of the Option and the unvested portion shall be forfeited.

 

c.                                                 In no event may the Option be exercised beyond its Term.

 

4.                                       Change of Control. Notwithstanding
the provisions of Sections 2(a) and 2(b) hereof, in the event of a
Change of Control, the Option shall immediately vest and become exercisable in
its entirety, provided that the Participant’s employment or other service has
not terminated prior to the date of such Change of Control.

 

5.                                       Withholding. The
Company shall withhold all applicable taxes required by law from all amounts
paid in respect of the Option. A Participant may satisfy the withholding
obligation (i) by paying the amount of any such taxes in cash or check
(subject to collection), (ii) by the delivery (or attestation of
ownership) of

 

 

Shares or (iii) with the approval of the
Committee, by having Shares deducted from the payment. Alternatively, the
Participant may satisfy such obligation by authorizing the simultaneous sale of
Shares (or a sufficient portion thereof) acquired upon exercise through a
brokerage or similar arrangement approved in advance by the Committee. The
amount of the withholding and, if applicable, the number of Shares to be
delivered or deducted, as the case may be, shall be determined by the Committee
as of when the withholding is required to be made, provided that the number of
Shares so delivered or withheld shall not exceed the minimum required amount of
such withholding.

 

6.                                       Non-Assignability. Except
as otherwise provided in this Section, the Option is not assignable or
transferable other than by will or by the laws of descent and distribution and,
during the Participant’s life, may be exercised only by the Participant. The
Participant, with the approval of the Committee, which approval may be withheld
in its sole discretion, may transfer the Option for no consideration to or for
the benefit of any member or members of the Participant’s Immediate Family
(including, without limitation, to a trust for the benefit of any member or
members of the Participant’s Immediate Family or to a partnership or limited
liability company for one or more members of the Participant’s Immediate
Family) subject to such limits as the Committee may establish, and the
transferee shall remain subject to all the terms and conditions applicable to
the Option prior to such transfer. The foregoing right to transfer the Option
shall apply to the right to consent to amendments to this Agreement and, in the
discretion of the Committee, shall also apply to the right to transfer
ancillary rights associated with the Option.

 

7.                                       Rights as a Shareholder. A Participant shall have no rights as a shareholder with respect to any
Shares subject to this award until the date the Participant becomes the holder
of record of the Shares.

 

8.                                       No Right to Continued Service. Nothing herein shall obligate the Company or any Subsidiary to continue
the Participant’s employment or other service for any particular period or on
any particular basis of compensation.

 

9.                                       Burden and Benefit. The
terms and provisions of this Agreement shall be binding upon, and shall inure
to the benefit of, the Participant and
his or her executors or administrators, heirs, and personal and legal
representatives.

 

10.                                 Execution. This
Option is not enforceable until this Agreement has been signed by the
Participant and the Company. By executing this Agreement, the Participant shall
be deemed to have accepted and consented to any action taken or to be taken
under the Plan by the Committee,
the Board of Directors or their delegates.

 

 

11.                               Governing Law.
This Agreement shall be construed and enforced in accordance with the laws of
the State of Ohio, without regard to the
conflict of laws principles thereof.

 

12.                               Modifications. Except
for alterations and amendments permitted under the Plan without the consent of
the Participant, no change or modification of this Agreement shall be valid
unless it is in writing and signed by the parties hereto.

 

13.                               Entire Agreement. This
Agreement, together with the Plan, sets forth all of the promises, agreements,
conditions, understandings,
warranties and representations between the parties hereto with respect to the
Option, and there are no promises, agreements, conditions, understandings,
warranties or representations, oral or written, express or implied, between
them with respect to the Option other than as set forth herein or therein. The
terms and conditions of the Plan, a copy of which has been furnished to the
Participant, are incorporated by reference herein, and to the extent that any
conflict may exist between any term or provision of this Agreement and any term
or provision of the Plan, the term or provision of the Plan shall control.

 

14.                               Additional Definitions. Any
capitalized term to the extent not defined below or elsewhere in this Agreement
shall have the same meaning as set forth in the Plan.

 

a.                                     “Cause”
means (i) the commission of a felony, (ii) embezzlement, (iii) the
illegal use of drugs or (iv) if no Change of Control has occurred other
than the entering into of an agreement referred to in items (ii) or (iii) of
the definition of Change of Control, the failure by the Participant to
substantially perform his duties with the Company or any Subsidiary (other than
any such failure resulting from his Disability) as determined by the Committee.

 

b.                                    “Immediate Family” means
the Participant’s spouse, parents, parents-in-law, children, stepchildren,
adoptive relationships, sisters, brothers and grandchildren (and, for this
purpose, shall also include the Participant).

 

15.                               Construction. The
use of any gender herein shall be deemed to include the other gender and the
use of the singular herein shall be deemed to include the plural and vice
versa, wherever appropriate.

 

 

16.                                 Notices. Any
and all notices required herein shall be addressed: (i) if to the Company,
to the principal executive offices of the Company; and (ii) if to the
Participant, to his or her address as reflected in the records of the Company.

 

17.                                 Invalid or Unenforceable Provisions. The invalidity or unenforceability of any particular provision of this
Agreement shall not affect the other provisions hereof, and this Agreement shall
be construed in all respects as if the invalid or unenforceable provisions were
omitted.

 

IN WITNESS WHEREOF, the Company and the Participant
have executed this Agreement as of the date first above written.

 

	
   

  	
  DPL INC.Exhibit
10.c

 

DPL
INC.

PARTICIPATION
AGREEMENT

 

This PARTICIPATION AGREEMENT (“Agreement”) is
entered into this 14th day of May, 2010 (the “Effective Date”) among
DPL Inc., an Ohio corporation (“DPL”), The Dayton Power and Light Company, an
Ohio corporation (“DP&L”) (collectively, the “Company”), and Kevin W. Crawford (“Executive”).

 

WHEREAS, DPL has an executive compensation program
(the “Program”), generally effective as of January 1, 2006;

 

WHEREAS, the Program provides benefits pursuant to
the following plans which have been approved by the Compensation Committee of
the Board of Directors of the Company (the “Committee”) and adopted by the
Board of Directors of the Company (the “Board”): the DPL Inc. Severance Pay and
Change of Control Plan, the DPL Inc. Supplemental Executive Defined
Contribution Retirement Plan, the DPL Inc. 2006 Equity and Performance
Incentive Plan, the DPL Inc. Executive Incentive Compensation Plan (the “EICP”),
the DPL Inc. 2006 Deferred Compensation Plan for Executives and the DPL Inc.
Pension Restoration Plan (collectively, the “Plans”);

 

WHEREAS, Executive’s participation in the Plans and
eligibility for the benefits provided thereunder requires execution of this
Agreement; and

 

WHEREAS, the Company desires to provide Executive
benefits in addition to those provided by the Program, as described herein.

 

NOW THEREFORE, in consideration of the promises and
agreements contained herein and other good and valuable consideration, the
sufficiency and receipt of which are hereby acknowledged, and intending to be
legally bound, Executive agrees as follows:

 

1.             Effective
Date.  This Agreement is effective on
the Effective Date and will continue in effect as provided herein.

 

2.             Participation
in the Plans.  The Company confirms
that Executive has been designated by the Committee and the Board to
participate in each of the Plans pursuant to the terms thereof contingent on
his execution of this Agreement.  The
Company and the Executive agree that, in light of the Board’s modification of
excise tax eligibility under the Severance and Change of Control Plan, as a
participant in the Severance and Change of Control Plan prior to January 1,
2009, the Executive will continue to be eligible to receive excise tax
gross-ups under the Severance and Change of Control Plan.  The Executive is eligible to receive
additional benefits as such are provided to other similarly situated employees
of the Company from time to time.

 

3.             Remaining
Rights.  Notwithstanding the terms of
Section 2, Executive and Company hereby agree that nothing in this
Agreement negates or diminishes the Executive’s right (a) to receive cash
payouts under any stock incentive units awarded under the DP&L Management
Stock Incentive Plan, as described in and subject to the terms and conditions contained
in the Letter between DPL and Executive dated April 27, 2001, a copy of
which is attached as Exhibit A.

 

1

 

The Company and Executive further agree that, upon
execution of this Participation Agreement, the Participation Agreement between
the Company and Executive dated August 30, 2007, which granted Executive
rights under the Company’s Severance and Change of Control Plan, shall be null
and void and have no further effect and that any other rights the Executive had
or was eligible to receive or potentially receive under the previous
Participation Plan shall be forever waived.

 

3.             Perquisite
Allowance.  By executing this
Agreement, Executive shall be entitled to receive a perquisite allowance in the
amount of $20,000 per year (the “Perquisite Allowance”), for each year that (a) Executive
remains designated by the Committee as eligible to receive the Perquisite
Allowance and (b) DPL continues to make the Perquisite Allowance available
to executive-level employees of the Company. 
Executive has been designated by the Committee as eligible to receive
the Perquisite Allowance for 2010.  The
Perquisite Allowance for 2010 shall be paid as soon as practicable after the
execution of this Participation Agreement. 
The Perquisite Allowance for years after 2010 shall be paid to Executive
as soon as practicable after the Committee designates Executive as eligible to
receive the Perquisite Allowance for that year. 
The Perquisite Allowance will not be deemed “compensation,” as that term
is defined under any of the Plans, nor under any other plan, practice, program
or policy of the Company or any of its affiliates, as in effect from time to
time.

 

4.             Non-Solicitation.  As a condition to his eligibility to
participate in the Program, Executive hereby agrees that during his employment
and for a period of two years following his termination of employment with the
Company, Executive will not (a) solicit for employment with himself or any
firm or entity with which he is associated, any employee of the Company, its
subsidiaries or affiliates, or otherwise disrupt, impair, damage or interfere
with the Company’s, its subsidiaries’ or affiliates’ relationships with their
employees or (b) solicit for Executive’s own behalf or on behalf of any
other person(s), any retail customer of the Company, its subsidiaries or
affiliates, that has purchased products or services from the Company, its
subsidiaries or affiliates, at any time (i) with respect to solicitation
during employment, during the Executive’s employment or (ii) with respect
to solicitation after termination of employment, in the twelve months preceding
the date on which Executive’s employment with the Company, its subsidiaries or
affiliates is terminated or that the Company, its subsidiaries or affiliates
are actively soliciting or have known plans to solicit, for the purpose of
marketing or distributing any product, pricing or service competitive with any
product, pricing or service then offered by the Company, its subsidiaries or
affiliates or which the Company, its subsidiaries or affiliates have known
plans to offer.

 

[Signatures on the Following
Page]

 

2

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement on the date first written above.

 

 

	
   

  	
  DPL INC. and

  
	
   

  	
  THE DAYTON POWER AND LIGHT COMPANY

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Paul M. Barbas

  
	
   

  	
   

  	
  President and Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Kevin W. Crawford

  

 

3

 

Exhibit A

 

Crawford SIU Letter Agreement,
dated April 27, 2001

 

4

 

Allen M.
Hill

 

President and

Chief Executive Officer

(937) 259-7205

 

April 27, 2001

 

Kevin W. Crawford

DPL Inc.

 

Dear Kevin:

 

Congratulations! The Management SIU program which
you participated in ended December 31, 2000. Your total awards, with
accrued dividends, is 14,485 SIU’s.

 

In accordance with the program, SIU’s which have
vested will be paid, in cash, in the year in which they vest. Payments will
occur on July 15 of each payout year and will be based on the average of
the last closing price of the previous three months. Attached is your vesting
schedule indicating the timing and amounts of your vested SIU’s.

 

All program requirements and criteria, including
your continuance as an employee, remain effective.

 

Again, congratulations!

 

	
   

  	
  Sincerely,

  
	
   

  	
  

  

 

DPL Inc. · P.O. Box 8815 ·  Dayton, Ohio 45401

 

5

 

THE DAYTON POWER &
LIGHT COMPANY

Management SIU Program

Vesting Schedule

 

Crawford, Kevin W.

 

	
   

  	
  Award

  	
   

  	
  Vested Awards

  	
   

  	
   

  	
   

  
	
   

  	
  Year

  	
   

  	
  SIU

  	
   

  	
  2001

  	
   

  	
  2002

  	
   

  	
  2003

  	
   

  	
  2004

  	
   

  	
  2005

  	
   

  	
  2006

  	
   

  	
  2007

  	
   

  	
  2008

  	
   

  	
  2009

  	
   

  	
  2010

  	
   

  	
  Total

  	
   

  
	
   

  	
  1995

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  0

  	
   

  
	
   

  	
  1996

  	
   

  	
  1,350

  	
   

  	
   

  	
   

  	
  270

  	
   

  	
  270

  	
   

  	
  270

  	
   

  	
  270

  	
   

  	
  270

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  1,350

  	
   

  
	
   

  	
  1997

  	
   

  	
  3,000

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  3,000

  	
   

  
	
   

  	
  1998

  	
   

  	
  3,000

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  3,000

  	
   

  
	
   

  	
  1999

  	
   

  	
  3,000

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
   

  	
   

  	
  3,000

  	
   

  
	
   

  	
  2000

  	
   

  	
  3,000

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  600

  	
   

  	
  3,000

  	
   

  
	
   

  	
  Dividends

  	
   

  	
  1,135

  	
   

  	
  0

  	
   

  	
  23

  	
   

  	
  74

  	
   

  	
  125

  	
   

  	
  176

  	
   

  	
  227

  	
   

  	
  204

  	
   

  	
  153

  	
   

  	
  102

  	
   

  	
  51

  	
   

  	
  1,135

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Total

  	
   

  	
  14,485

  	
   

  	
  0

  	
   

  	
  293

  	
   

  	
  944

  	
   

  	
  1,595

  	
   

  	
  2,246

  	
   

  	
  2,897

  	
   

  	
  2,604

  	
   

  	
  1,953

  	
   

  	
  1,302

  	
   

  	
  651

  	
   

  	
  14,485

  	
   

  

 

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}]]