Document:

Amended and Restated Executive Change in Control Plan.

 Exhibit 10.1 
 AUTODESK, INC. 
 EXECUTIVE CHANGE IN CONTROL PROGRAM 
 As Amended and Restated March 31, 2006 
 ARTICLE I 
 PURPOSE, ESTABLISHMENT AND APPLICABILITY OF PLAN 
 A. Purposes. The Board of Directors (“Board”) of Autodesk, Inc. (the “Company”) has determined that it is in the best
interests of the Company and its stockholders to assure that the Company will have the continued dedication of its executive staff, notwithstanding a Change of Control, and that it is in the best interests of the Company and its stockholders to
provide the executive staff with financial security and encouragement to remain with the Company and to maximize the value of the Company following a Change of Control. 
 B. Establishment of Plan. As of the Effective Date, the Company hereby establishes the Plan, as set forth in this document. 
 C. Applicability of Plan. Subject to the terms of this Plan, the benefits provided by this Plan shall be available to those Employees who, on or after the Effective Date, receive a Notice of Participation.

 ARTICLE II 
 DEFINITIONS AND CONSTRUCTION 
 Whenever used in the Plan, the following terms shall have the meanings set forth below.

 A. Annual Base Compensation. “Annual Base Compensation” shall mean an amount equal to the Participant’s gross annual
base salary, exclusive of bonuses, commissions and other incentive pay, as in effect immediately preceding the Change of Control. 
 B.
Average Annual Bonus. “Average Annual Bonus” shall mean the average bonus payments received by the Participant under the Company’s incentive bonus and variable compensation programs as in effect on the Effective Date (or any
predecessor or successor programs) for the three most recent consecutive and complete fiscal years of the Company prior to the fiscal year in which the Change of Control occurs. For purposes of calculating a Participant’s Average Annual Bonus,
the following rules shall apply: 
 (i) In the event a Participant was not eligible to participate in such bonus and variable
compensation programs for the entire three year period, the Average Annual Bonus shall be calculated based upon the Participant’s actual period of eligibility; and 
 (ii) In the event a Participant first became eligible to participate in such bonus and variable compensation programs in the fiscal year
in which the Change of Control occurs, the Participant’s Average Annual Bonus shall be based on his or her targeted bonus and variable compensation amounts as in effect immediately prior to such Change of Control. 
  

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 C. Board. “Board” means the Board of Directors of the Company. 
 D. Cause. “Cause” means the (i) Participant’s engagement in acts of embezzlement, dishonesty or moral turpitude; (ii) the
conviction of Participant for having committed a felony; (iii) a breach by Participant of Participant’s fiduciary duties and responsibilities to the Company having the potential to result in an adverse effect on the Company’s
business, operations, prospects or reputation; (iv) gross negligence or bad faith as determined by a duly authorized representative of the Company; or (v) the repeated failure (other than due to death or disability) of Participant to
perform duties and responsibilities as an Employee to the reasonable satisfaction of a duly authorized representative of the Company after the Participant has received a written demand for performance from the Company which specifically sets forth
the factual basis for the Company’s belief that the Participant has failed to perform satisfactorily. 
 E. Change of Control.
“Change of Control” means the occurrence of any of the following events: 
 (i) Any “person” (as such term
is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of
the total voting power represented by the Company’s then outstanding voting securities; or 
 (ii) The consummation of
the sale or disposition by the Company of all or substantially all of the Company’s assets; or 
 (iii) The consummation
of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least sixty percent (60%) of the total voting power represented by the voting securities of the Company or such surviving entity or its
parent outstanding immediately after such merger or consolidation. 
 (iv) A change in the composition of the Board, as a
result of which less than a majority of the Directors are Incumbent Directors. “Incumbent Directors” shall mean Directors who either (A) are Directors of the Company as of the date hereof, or (B) are elected, or nominated for
election, to the Board with the affirmative votes of at least a majority of those Directors whose election or nomination was not in connection with any transaction described in subsections (i), (ii) or (iii) or in connection with an actual
or threatened proxy contest relating to the election of directors of the Company. 
 F. Code. “Code” means the Internal
Revenue Code of 1986, as amended. 
 G. Company. “Company” means Autodesk, Inc., any subsidiary corporations, any successor
entities as provided in Article X hereof, and any parent or subsidiaries of such successor entities. 
 H. Effective Date.
“Effective Date” means March 31, 2006. 
 I. Employee. “Employee” means an employee of the Company.

  

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 J. ERISA. “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

 K. Good Reason. “Good Reason” means without the Participant’s written consent, (i) a material reduction in the
Participant’s authority or responsibilities (including reporting responsibilities) relative to the Participant’s authority or responsibilities in effect immediately prior to the Change of Control (other than a reduction solely on account
of the Company becoming a subsidiary or business unit of a larger organization); (ii) a reduction in the Participant’s Annual Base Compensation; or (iii) the relocation of the Participant’s principal place of performing his or
her duties as an employee of the Company by more than thirty (30) miles. Notwithstanding the foregoing, an event described in this Section shall not constitute Good Reason unless it is communicated by the Participant to the Company in writing
and is not corrected by the Company in a manner which is reasonably satisfactory to such Participant (including full retroactive correction with respect to any reduction in Annual Base Compensation) within 10 days of the Company’s receipt of
such written notice. 
 L. Notice of Participation. “Notice of Participation,” means an individualized written notice of
participation in the Plan from an authorized officer of the Company. 
 M. Participant. “Participant” means an individual
who meets the eligibility requirements of Article III. 
 N. Plan. “Plan” means this Autodesk, Inc. Executive Change in
Control Program, as set forth in this document, and as hereafter amended from time to time. 
 O. Plan Administrator. “Plan
Administrator” means the Board or its committee or designate, as shall be administering the Plan. 
 P. Release and Non-Competition
Agreement. “Release and Non-Competition Agreement” means the form of general waiver, release and non-competition agreement a Participant must execute as a condition to receiving severance and other benefits pursuant to Article IV.

 Q. Termination Date. “Termination Date” means (i) the date on which the Company delivers notice of termination to
the Participant or such later date, not to exceed ninety (90) days, specified in the notice of termination, (ii) in the event the term of employment ends by reason of the Participant’s death, the date of death, or (iii) if the
Participant terminates his or her employment with the Company, the date on which the Participant delivers notice of termination to the Company. 
 ARTICLE III 
 ELIGIBILITY 
 A. Waiver. As a condition of receiving benefits under the Plan, a Participant must sign the Release and Non-Competition Agreement, attached hereto as Exhibit A. 
 B. Participation in Plan. Each Employee who is designated by the Board and who signs and timely returns to the Company a Notice of Participation
shall be a Participant in the Plan. An individual shall cease to be a Participant in the Plan upon the earlier of (i) ceasing to be an Employee 

  

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or (ii) six (6) months after the Board (or its designee) notifies the Participant that he or she no longer is eligible under the Plan.
Notwithstanding the preceding sentence, if an individual becomes entitled to severance and other benefits under Section A of Article IV prior to ceasing to be a Participant, he or she nevertheless shall be entitled to receive full payment of
severance and benefits in accordance with the Plan. A Participant entitled to benefits hereunder shall remain a Participant in the Plan until the full amount of the benefits accrued hereunder has been delivered to the Participant. 
 ARTICLE IV 
 TERMINATION OF
EMPLOYMENT 
 A. Termination without Cause following a Change of Control. If, within twelve (12) months following a Change of
Control, the Company terminates a Participant’s employment without Cause or a Participant voluntarily terminates his or her employment on account of Good Reason, the Participant shall be entitled to receive the following severance and other
benefits, provided Participant executes a Release and Non-Competition Agreement in accordance with Section A of Article III: 
 (i) Cash Payments. The Participant shall be entitled to receive an amount equal to Participant’s Annual Base Compensation and Average Annual Bonus payable in twenty-four (24) successive equal bimonthly installments in
accordance with the Company’s normal payroll practices. Any payments to which Participant is entitled under this Section A(i) shall be reduced by the aggregate amount of severance payable to the Participant by the Company pursuant to any other
plan, program, agreement or contract between the Participant and the Company. 
 (ii) Options. Each of the
Participant’s outstanding stock option(s) granted under any of the Company’s equity incentive plans shall partially accelerate and become vested and exercisable with respect to the number of shares that would have otherwise vested within
the twelve (12) months following the date of the Participant’s termination of employment as though Participant had remained in the service of the Company through such date. 
 (iii) Employee Benefits. If the Participant (and any spouse and/or eligible dependents of the Participant (“Family
Members”)) has medical, dental and vision coverage on the date of the Participant’s termination of employment under a group health plan sponsored by the Company, the Company will reimburse the Participant for the total applicable premium
cost for medical and dental coverage under the Consolidated Omnibus Budget Reconciliation Act of 1986, 29 U.S.C. Sections 1161-1168; 26 U.S.C. Section 4980B(f), as amended, and all applicable regulations (referred to collectively as
“COBRA”) for Covered Employee and any Family Members for a period that ends on the earlier of (i) twelve (12) months following the Participant’s Termination Date, or (ii) the date that the Participant and his or her
Family Members become covered under another employer’s medical, dental and vision plans. 
 B. Other Termination. If (i) the
Participant voluntarily resigns from the Company without Good Reason, (ii) the Company terminates the Participant’s employment for Cause, or (iii) the Participant’s employment terminates by reason of his or her retirement,
disability or death, then the Participant shall not be entitled to receive severance or other benefits under this Plan and shall be entitled to benefits (if any) only as may then be established under the Company’s then existing benefit plans
and policies at the time of such resignation or termination. 
  

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 ARTICLE V 
 GOLDEN PARACHUTE 
 In the event that the benefits provided for in this Plan otherwise constitute
“parachute payments” within the meaning of Section 280G of the Code and would, but for this Article V be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”) , then the Participant’s
benefits under Article IV shall be either: 
 (i) delivered in full, or 
 (ii) delivered as to such lesser extent as would result in no portion of such benefits being subject to the Excise Tax, whichever of the
foregoing amounts, taking into account the applicable federal, state and local income taxes and the Excise Tax, results in the receipt by Participant on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion
of such benefits may be taxable under Section 4999 of the Code. Unless the Company and the Participant otherwise agree in writing, all determinations required to be made under this Article, including the manner and amount of any reduction in
the Participant’s benefits under Article IV, and the assumptions to be utilized in arriving at such determinations, shall be made in writing in good faith by the accounting firm serving as the Company’s independent public accountants
immediately prior to the event giving rise to such Payment (the “Accountants”). For purposes of making the calculations required by this Article V, the Accountants may make reasonable assumptions and approximations concerning the
application of Sections 280G and 4999 of the Code. The Company and the Participant shall furnish to the Accountants such information and documents as the Accountants may reasonably request to make a determination under this Article. The Company
shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Article. 
 ARTICLE VI

 FUNDING POLICY AND METHOD 
 Benefits and any administrative expenses arising in connection with the Plan shall be paid as needed solely from the general assets of the Company. No contributions are required from any Participant. This Plan shall not be construed to
require the Company to fund any of the benefits provided hereunder nor to establish a trust for such purpose. Participants’ rights against the Company with respect to severance and other benefits provided under this Plan shall be those of
general unsecured creditors. No Participant has an interest in his or her severance or other benefits under this Plan until the Participant actually receives a payment. 
  

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 ARTICLE VII 
 CLAIMS PROCEDURE 
 In the event any claim for benefits is denied, in whole or in part, the Company
shall notify the claimant of such denial in writing and shall advise the claimant of his or her right to appeal the denial. Such written notice shall set forth the specific reasons for the denial and shall be given to the claimant within ninety
(90) days after the Company receives his or her claim. 
 ARTICLE VIII 
 REVIEW PROCEDURE 
 A. Review Panel. In the event the Board receives
appeals from denials of claims for benefits under the Plan, it may appoint a committee of non-Participants (a “Review Panel”) to act as fiduciary to the Plan to act on such appeals. 
 B. Right to Appeal. Any person whose claim for benefits is denied, in whole or in part, may appeal from the denial by submitting a written request
for review of the claim within sixty (60) days after receiving written notice of the denial from the Company. 
 C. Form of Request
for Review. A request for review must be made in writing and shall be addressed as follows: “Board of Directors, Autodesk, Inc., c/o General Counsel, 111 McInnis Parkway, San Rafael, CA 94903.” A request for review shall set forth all
of the grounds upon which it is based, all facts and support thereof and any other matters that the claimant deems pertinent. 
 D. Review
Decision. Within sixty (60) days after receipt of a request for review, the Board or the designated Review Panel shall give written notice of its decision to the claimant and the Company. In the event the denial of the claim for benefits is
confirmed, in whole or in part, such notice shall set forth, in a manner calculated to be understood by the claimant, specific reasons for such denial and specific references to the Plan provisions on which the decision was based. In the event that
the Board or the Review Panel determines that the claim for benefits should not have been denied, in whole or in part, the Company shall take appropriate remedial action as soon as reasonably practicable after receiving notice of the decision.

 ARTICLE IX 
 EMPLOYMENT STATUS; WITHHOLDING 
 A. Employment Status. This Plan does not constitute a contract of employment or
impose on the Participant or the Company any obligation to retain the Participant as an Employee, to change the status of the Participant’s employment, or to change the Company’s policies regarding termination of employment. The
Participant’s employment is and shall continue to be “at-will”, as defined under applicable law. If the Participant’s employment with the Company or a successor entity terminates for any reason, the Participant shall not be
entitled to any payments, benefits, damages, awards or compensation other than as provided by this Plan, or as may otherwise be available in accordance with the Company’s established employee plans and practices or other agreements with the
Company at the time of termination. 
  

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 B. Taxes. All payments made pursuant to this Plan shall be subject to all applicable reporting
obligations and any tax or other contributions required to be withheld under Federal, state or local law, or the applicable laws of any non-U.S. taxing authority as interpreted by the Company. 
 ARTICLE X 
 SUCCESSORS TO COMPANY AND PARTICIPANTS 
 A. Company’s Successors. Any successor to the Company (whether direct or indirect and whether by purchase, lease, merger, consolidation,
liquidation or otherwise) to all or substantially all of the Company’s business and/or assets shall assume the obligations under this Plan and agree expressly to perform the obligations under this Plan by executing a written agreement. For all
purposes under this Plan, the term “Company” shall include any successor to the Company’s business and/or assets which executes and delivers the assumption agreement described in this subsection or which becomes bound by the terms of
this Plan by operation of law. 
 B. Participant’s Successors. All rights of the Participant hereunder shall inure to the benefit
of, and be enforceable by, the Participant’s personal or legal representatives, executors, administrators, successors, heirs, distributes, devisees and legatees. 
 ARTICLE XI 
 DURATION, AMENDMENT AND TERMINATION 
 A. Duration, Amendment and Termination. This Plan shall remain in effect until terminated by the Board. The Board reserves the right to amend or
terminate the Plan at any time, without advance notice to any Participant; provided, however, that, prior to a Change of Control, the Company shall provide six (6) months advance notice to each Participant of any amendment or termination of the
Plan that would be adverse to the Participant with respect to eligibility or amount of payments or benefits hereunder. Notwithstanding the preceding, commencing on the date of a Change of Control, no amendment or termination of the Plan shall reduce
the payments or benefits payable to any Participant who terminates employment within twelve (12) months after the Change of Control (unless the affected Participant consents in writing to such amendment or termination). Any action of the
Company in amending or terminating the Plan will be taken in a non-fiduciary capacity. A termination of this Plan pursuant to the preceding sentences shall be effective for all purposes, except that such termination shall not affect the payment or
provision of compensation or benefits earned by a Participant prior to the termination of this Plan. 
 ARTICLE XII 
 NOTICE 
 A. General. Notices and
all other communications contemplated by this Plan shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In the
case of the Participant, mailed notices shall be addressed to him or her at the home address which he or she most recently communicated to the Company in writing. In the case of the Company, mailed notices 

  

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shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its General Counsel. 
 ARTICLE XIII 
 MISCELLANEOUS
PROVISIONS 
 A. No Duty to Mitigate. The Participant shall not be required to mitigate the amount of any benefits contemplated by
this Plan, nor shall any such benefits be reduced by any earnings or benefits that the Participant may receive from any other source, except as provided otherwise in Section A(i) of Article IV of this Plan. 
 B. Severability. The invalidity or unenforceability of any provision or provisions of this Plan shall not affect the validity or enforceability of
any other provision hereof, which shall remain in full force and effect. 
 C. Administration. The Company is the administrator of the
Plan (within the meaning of section 3(16)(A) of ERISA). The Plan will be administered and interpreted by the Board or its designee. Any decision made or other action taken by the Board, its designee or the Review Panel with respect to the Plan, and
any interpretation by any of them with respect to any term or condition of the Plan, or any related document, will be conclusive and binding on all persons and be given the maximum possible deference allowed by law. The Board may delegate to any
other person all or any portion of its authority or responsibility with respect to the Plan. 
 D. Code Section 409A.
Notwithstanding any contrary provision of the Plan, if the Company determines, in its good faith judgment, that Section 409A of the Code will result in the imposition of additional tax to an earlier payment of any payment or benefit otherwise
due to a Participant under the Plan during the six (6) month period following the Participant’s Termination Date, such payments or benefits will accrue during the six (6) month period and will become payable in a lump sum payment on
the date six (6) months and one (1) day following the Termination Date. All subsequent payments or benefits, if any, will be paid as provided in the Plan. In addition, and notwithstanding any contrary provision of the Plan, the Company
reserves the right to amend the Plan as it deems necessary or advisable, in its sole discretion and without the consent of the Participants, to comply with Section 409A of the Code or to otherwise avoid income recognition or imposition of
income tax under Section 409A of the Code, provided that to the extent reasonably practicable, any such amendments shall be designed not to result in a material diminution of the benefits provided by the Plan. 
 E. No Assignment of Benefits. The rights of any person to payments or benefits under this Plan shall not be made subject to option or assignment,
either by voluntary or involuntary assignment or by operation of law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this subsection shall be void. 
  

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 ARTICLE XIV 
 ERISA REQUIRED INFORMATION 
 A. Plan Sponsor. The Plan sponsor and administrator is:

 Autodesk, Inc. 
 111 McInnis Parkway 
 San Rafael, CA 94903 
 B. Designated Agent. Designated agent for service of process: 
 General Counsel 
 Autodesk, Inc. 
 111 McInnis Parkway 
 San Rafael, CA 94903 
 C.
Plan Records. Plan records are kept on a fiscal year basis. 
 D. Plan Funding. Payments to participants will be paid from the
Company’s general assets. 
  

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 AUTODESK, INC. EXECUTIVE CHANGE IN CONTROL PROGRAM 
 NOTICE OF PARTICIPATION 
 To: 
 Date: 
 The Board has designated you as a Participant in the Autodesk, Inc. Executive Change in Control Program, as restated and amended March 31, 2006 (the “Plan”), a copy of which is attached hereto. The terms and conditions of
your participation in the Plan are as set forth in the Plan and in this Notice of Participation. As a condition to receiving benefits under the Plan you agree (i) to sign a general waiver, release and non-competition agreement, substantially in
the form attached to the Plan as Exhibit A, and (ii) to maintain in complete confidence your participation in the Plan as well as the contents and terms of this Notice of Participation. You will cease to be a Participant in the Plan if
you terminate employment under circumstances that do not entitle you to benefits under the Plan. Also, the Board may choose to end your participation in this Plan. If that happens, your participation will end six (6) months after the Company
gives you written notice that your participation will end. 
 If you enter into a separate agreement with the Company which provides benefits
relating to a Change of Control and that agreement specifically states that such provisions shall supersede the provisions in the Plan, then you shall not be considered a Participant in the Plan so long as those alternative contractual benefits are
in effect. 
 By signature below, you acknowledge that the Plan, as amended and restated as of March 31, 2006, supersedes any
predecessor plan and that any Notice provided under a predecessor plan is superseded by this Notice of Participation and no longer has any effect. 
 If you agree to participate in the Plan on these terms and conditions, please acknowledge your acceptance by signing below. Please return the signed copy of this Notice of Participation within ten (10) days of the date set forth above
to: 
 Attn: Corporate Secretary 
 Autodesk, Inc. 
 111 McInnis Parkway 
 San Rafael, CA 94903 
 Your failure to timely remit this signed Notice of Participation will result in your
removal from the Plan. Please retain a copy of this Notice of Participation, along with the Plan, for your records. 
  

							
				
	 Date: 
	 	   	 	 Signature: 
	 	   

 EXHIBIT A 
 RELEASE OF CLAIMS AND NON-COMPETITION AGREEMENT 
 This Release of Claims and Non-Competition
Agreement (“Agreement”) is made by and between Autodesk, Inc. (the “Company”) and
                                        
                                 (“Executive”). 
 WHEREAS, Executive was employed by the Company; 
 WHEREAS, Executive is a participant in the Company’s Executive Change in Control Program, as Amended and Restated March 31, 2006 (the “Plan”); 
 NOW THEREFORE, in consideration of the mutual promises made herein, the Company and Executive (collectively referred to as “the Parties”)
hereby agree as follows: 
 1. Termination. Executive’s employment from the Company terminated on
                                        
(the “Termination Date”). 
 2. Consideration. The Company agreed pursuant to the terms of the Plan to provide Executive
with certain benefits, including salary continuation and continued vesting of Executive’s options for a certain period, in the event Executive’s employment was terminated on or within twelve (12) months following certain changes of
control of the Company, as set forth in the Plan, provided Executive executes this Agreement. 
 3. Payment of Salary. Executive
acknowledges and represents that the Company has paid all salary, wages, bonuses, accrued vacation, commissions and any and all other benefits due to Executive, as of the Termination Date. 
 4. Release of Claims. Executive agrees that the foregoing consideration represents settlement in full of all outstanding obligations owed to
Executive by the Company. Executive, on behalf of Executive, and his or her respective heirs, family members, executors and assigns, hereby fully and forever releases the Company and its past, present and future officers, agents, directors,
executives, investors, shareholders, administrators, affiliates, divisions, subsidiaries, parents, predecessor and successor corporations, and assigns, from, and agrees not to sue or otherwise institute or cause to be instituted any legal or
administrative proceedings concerning any claim, duty, obligation or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that Executive may possess arising from any omissions, acts or
facts that have occurred up until and including the Effective Date of this Agreement including, without limitation, 
 (a) any
and all claims relating to or arising from Executive’s employment relationship with the Company and the termination of that relationship; 
 (b) any and all claims relating to, or arising from, Executive’s right to purchase, or actual purchase of shares of stock of the Company, including, without limitation, any claims for 

 
fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law;

 (c) any and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination;
breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; negligent or intentional misrepresentation;
negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; and conversion;

 (d) any and all claims for violation of any federal, state or municipal statute, including, but not limited to,
Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act of 1990, the Fair Labor Standards Act, the Executive Retirement Income Security Act
of 1974, The Worker Adjustment and Retraining Notification Act, the California Fair Employment and Housing Act, and Labor Code section 201, et seq. and section 970, et seq. and all amendments to each such Act as well as the regulations
issued thereunder; 
 (e) any and all claims for violation of the federal, or any state, constitution; 
 (f) any and all claims arising out of any other laws and regulations relating to employment or employment discrimination; and 

(g) any and all claims for attorneys’ fees and costs. 
 Executive agrees that the release set forth in this section shall be and remain in effect in all respects as a complete general release as to the matters
released. 
 5. Acknowledgment of Waiver of Claims under ADEA. Executive acknowledges that Executive is waiving and releasing any
rights Executive may have under the Age Discrimination in Employment Act of 1967 (“ADEA”) and that this waiver and release is knowing and voluntary. Executive and the Company agree that this waiver and release does not apply to any rights
or claims that may arise under the ADEA after the Effective Date of this Agreement. Executive acknowledges that the consideration given for this waiver and release Agreement is in addition to anything of value to which Executive was already
entitled. Executive further acknowledges that Executive has been advised by this writing that (a) Executive should consult with an attorney prior to executing this Agreement; (b) Executive has at least twenty-one (21) days
within which to consider this Agreement; (c) Executive has seven (7) days following the execution of this Agreement by the parties to revoke the Agreement; and (d) this Agreement shall not be effective until the revocation period has
expired. Any revocation should be in writing and delivered to the General Counsel at Autodesk, Inc., 111 McInnis Parkway, San Rafael, California 94903, by close of business on the seventh day from the date that Executive signs this Agreement.

  

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 6. Civil Code Section 1542. Executive represents that Executive is not aware of any claims
against the Company other than the claims that are released by this Agreement. Executive acknowledges that Executive has been advised by legal counsel and is familiar with the provisions of California Civil Code Section 1542, which provides as
follows: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HER FAVOR AT THE TIME OF
EXECUTING THE RELEASE, WHICH IF KNOWN BY HER MUST HAVE MATERIALLY AFFECTED HER SETTLEMENT WITH THE DEBTOR. 
 Executive, being aware of
said code section, agrees to expressly waive any rights Executive may have thereunder, as well as under any other statute or common law principles of similar effect. 
 7. No Pending or Future Lawsuits. Executive represents that Executive has no lawsuits, claims, or actions pending in Executive’s name, or on behalf of any other person or entity, against the Company or any
other person or entity referred to herein. Executive also represents that Executive does not intend to bring any claims on Executive’s own behalf or on behalf of any other person or entity against the Company or any other person or entity
referred to herein with regard to matters released hereunder. 
 8. Non-Competition; Non-Solicitation. 
 (a) Covenant Not to Compete. During the twelve (12) month period following the Termination Date, Executive will not directly
or indirectly engage in (whether as an employee, consultant, proprietor, partner, director or otherwise), or have any ownership interest in, or participate in the financing, operation, management or control of, any person, firm, corporation or
business that engages in a “Restricted Business” in a “Restricted Territory” (as such terms are defined in Section 8(a)(iv) below). It is agreed that ownership of no more than 5% of the outstanding voting stock of a publicly
traded corporation shall not constitute a violation of this provision. 
 (i) Representations. The Executive and the
Company intend that the covenant contained in Section 8(a) shall be construed as a series of separate covenants, one for each county, city and state (or analogous entity) and country of the Restricted Territory. Except for geographic coverage,
each separate covenant shall be deemed identical in terms to the covenant contained in the preceding paragraph. If, in any judicial proceeding, a court shall refuse to enforce any of the separate covenants (or any part thereof) deemed included in
said paragraphs, then such unenforceable covenant (or such part) shall be deemed eliminated from this Agreement for the purpose of those proceedings to the extent necessary to permit the remaining separate covenants (or portions thereof) to be
enforced. 
 (ii) Reformation. In the event that the provisions of this Section 8(a) should ever be deemed to
exceed the time or geographic limitations, or the scope of this covenant, permitted by applicable law, then such provisions shall be reformed to the maximum time or geographic limitations, as the case may be, permitted by applicable laws.

 (iii) Reasonableness of Covenants. Executive represents that Executive (A) is familiar with the covenants not
to compete, and (B) is fully aware of Executive’s obligations hereunder, including, without limitation, the reasonableness of the length of time, scope and geographic coverage of these covenants. 
  

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 (iv) Definitions. As used herein, the terms listed below shall have the following
meanings: 
 (A) Restricted Business. “Restricted Business” means design software for the building,
manufacturing, infrastructure, media and entertainment or wireless location based services fields. 
 (B) Restricted
Territory. “Restricted Territory” means worldwide. 
 (b) Covenant Not to Solicit. During the twelve
(12) months following the Termination Date, Executive will not directly or indirectly: 
 (i) Solicit, encourage, recruit
or take any other action which is intended to induce any other employee, independent contractor, customer or supplier of the Company or any affiliated corporation to terminate his, her or its relationship with the Company or any affiliated
corporation; or 
 (ii) Interfere in any manner with the contractual or employment relationship between the Company or any
affiliated corporation and any employee, independent contractor, customer or supplier of the Company or any affiliated corporation. 
 9.
Costs. The Parties shall each bear their own costs, expert fees, attorneys’ fees and other fees incurred in connection with this Agreement. 
 10. Authority. Executive represents and warrants that Executive has the capacity to act on Executive’s own behalf and on behalf of all who might claim through her to bind them to the terms and conditions
of this Agreement. 
 11. No Representations. Executive represents that Executive has had the opportunity to consult with an attorney,
and has carefully read and understands the scope and effect of the provisions of this Agreement. Neither party has relied upon any representations or statements made by the other party hereto which are not specifically set forth in this Agreement.

 12. Severability. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal,
unenforceable or void, this Agreement shall continue in full force and effect without said provision. 
 13. Entire Agreement. This
Agreement, the Plan and the notice of participation executed by Executive in connection with accepting participation in the Plan represent the entire agreement and understanding between the Company and Executive concerning Executive’s
separation from the Company, and supersede and replace any and all prior agreements and understandings concerning Executive’s relationship with the Company and her compensation by the Company. This Agreement may only be amended in writing
signed by Executive and an executive officer of the Company. 
 14. Governing Law. This Agreement shall be governed by the internal
substantive laws, but not the choice of law rules, of the State of California. 
  

 -4- 

 15. Effective Date. This Agreement is effective eight (8) days after it has been signed by
both Parties. 
 16. Counterparts. This Agreement may be executed in counterparts, and each counterpart shall have the same force and
effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. 
 17. Voluntary
Execution of Agreement. This Agreement is executed voluntarily and without any duress or undue influence on the part or behalf of the Parties hereto, with the full intent of releasing all claims. The Parties acknowledge that: 
 (a) They have read this Agreement; 
 (b) They have been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of their own choice or that they have voluntarily declined to seek such counsel; 
 (c) They understand the terms and consequences of this Agreement and of the releases it contains; 
 (d) They are fully aware of the legal and binding effect of this Agreement. 
 IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below. 
  

									
		 		 	 AUTODESK, INC.

					
	 Dated: 
	 	  	 		 	 By
	 	  
			
		 		 	 EXECUTIVE

				
	 Dated: 
	 	  	 		 	  
		 		 		 	 (Signature)

				
		 		 		 	  
		 		 		 	 (Print Name)

  

 -5-Employment Agreement between Duke Energy Corporation and James E. Rogers

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (the “Agreement”) is entered into on the
4th day of April, 2006, by and between James E. Rogers (the “Employee”) and Duke Energy Corporation, a Delaware corporation, to be effective as of April 3, 2006. 
 Recitals 
 WHEREAS, the Employee previously served as Chairman of the
Board, President and Chief Executive Officer of Cinergy Corp. (“Cinergy”); 
 WHEREAS, Cinergy entered into an Agreement and Plan
of Merger by and among Deer Holding Corp., a Delaware corporation, Duke Energy Corporation, a North Carolina corporation (“Old Duke”), Cinergy, Deer Acquisition Corp. and Cougar Acquisition Corp., dated as of May 8, 2005 (as amended,
the “Merger Agreement”); 
 WHEREAS, Deer Holding Corp. has been renamed Duke Energy Corporation (Deer Holding Corp. as so renamed,
“Duke Energy”); 
 WHEREAS, pursuant to the Merger Agreement, effective as of the “Effective Time” (as such term is
defined in the Merger Agreement, the “Effective Time”), Cinergy and Old Duke became wholly-owned subsidiaries of Duke Energy; 
 WHEREAS, Duke Energy desires to employ the Employee to serve as its President and Chief Executive Officer effective as of the Effective Time, and the Employee desires to accept that position with Duke Energy; and 
 WHEREAS, the Effective Time occurred on April 3, 2006 (the “Effective Date”). 
 Agreement 
 NOW, THEREFORE, in consideration of the premises and of the
mutual covenants contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
 1.
Employment. Duke Energy hereby employs the Employee, and the Employee hereby accepts such employment, effective as of the Effective Time, upon the terms and conditions set forth herein. Except as otherwise expressly provided herein, this
Agreement sets forth the terms and conditions of the Employee’s employment by Duke Energy, represents the entire agreement of the parties with respect to that subject, and supersedes all prior understandings and agreements with respect to that
subject. Without limiting the foregoing sentence, effective as of the Effective Time, this Agreement supersedes in its entirety the Employment Agreement by and between Cinergy and the Employee dated as of February 4, 2004 (the “Cinergy
Employment Agreement”), and Exhibit D to the Merger Agreement, again in each case except as otherwise expressly provided herein. 

 2. Position and Duties. 
 (a) Duties. The Employee shall be employed by Duke Energy as President and Chief Executive Officer in accordance with Sections 4.04 and 4.05 of the
by-laws of Duke Energy as in effect at the Effective Time, as amended. The Employee shall be responsible for the general management of the affairs of Duke Energy and shall perform all duties incidental to such positions which may be required by law
and all such other duties as are properly required by the Board of Directors of Duke Energy (the “Board”). The Employee shall report directly to the Board. For administrative purposes, Duke Energy may designate the Employee as being
employed by one or more of its subsidiaries. 
 (b) Engaging in Other Employment. While employed by Duke Energy, the Employee shall
devote his full time and attention to Duke Energy and its subsidiaries and shall not be employed by any other person or entity. The Employee may reasonably participate as a member in community, civic, or similar organizations and may pursue personal
investments, so long as such activities do not interfere with the performance of the Employee’s responsibilities as an employee in accordance with this Agreement, provided that the Employee may serve on corporate boards (other than the Board)
with the approval of the Board, which approval shall not be unreasonably withheld, and provided further that the Employee’s service described on Exhibit A hereto is hereby approved as of the Effective Date. 
 (c) Loyal and Conscientious Performance. The Employee shall act at all times in compliance with the policies, rules and decisions adopted from
time-to-time by Duke Energy, its Board and any employing subsidiaries and perform all the duties and obligations required of him by this Agreement in a loyal and conscientious manner. 
 (d) Location. The Employee’s principal office shall be at the principal executive offices of Duke Energy in Charlotte, North Carolina. Except
for required business travel to an extent substantially consistent with the business travel obligations of senior Duke Energy executives, the Employee will not be required to relocate to a new principal place of business that is more than fifty
(50) miles from such location. 
 3. Term of Employment. The term of the Employee’s employment pursuant to this Agreement
shall commence at the Effective Time and end on the third anniversary of the Effective Date, unless terminated earlier pursuant to the provisions of this Agreement. 
 4. Salary; Bonus. The Employee shall not be paid a base salary, nor shall the Employee participate in the Duke Energy Corporation Executive Short-Term Incentive Plan (as it may be amended, or any successor
thereto, the “STI Plan”) or any other annual cash bonus program. The Employee’s compensation will be primarily through the equity awards specified in Section 5 below. 
 5. Equity Awards. Duke Energy will cause equity awards (the “LTIP Awards”) to be made to the Employee as provided in this Section 5
to be evidenced by award agreements (each, an 
  

 2 

 “Award Agreement”) with additional customary terms not otherwise inconsistent with the terms of this
Section 5. The LTIP awards shall be made effective as of the first day legally permissible on or after the Effective Date (the “Grant Date”). 
 (a) Option. Duke Energy will grant to the Employee a nonqualified stock option (the “Option”) to purchase 1,877,646 shares of Duke Energy common stock. The exercise price of the Option will be the
greater of the closing price of Duke Energy common stock on the Grant Date or the trading day most recently preceding the Grant Date. The normal expiration date of the Option will be the tenth anniversary of the Grant Date. The Option will not be
vested at the Grant Date, but, except as otherwise provided herein, the Option will become ratably vested and exercisable on the three successive anniversaries of the Effective Date, as follows: 
  

					
	 Date
	  	Becoming Vested	  	Total Vested
	 First anniversary
	  	625,882	  	625,882
	 Second anniversary
	  	625,882	  	1,251,764
	 Third anniversary
	  	625,882	  	1,877,646

 Except as otherwise provided herein, the Employee may not dispose of any shares of Duke Energy Common Stock
acquired upon the exercise of the Option until the earlier of the third anniversary of the Effective Date or the termination of the Employee’s employment with Duke Energy. 
 (b) Phantom Stock. Duke Energy will grant to the Employee an award of phantom stock units (“Phantom Stock Units”) with respect to
258,180 shares of Duke Energy common stock. One-twelfth (1/12th) of the Phantom Stock Units will be vested as
of the Grant Date. Except as otherwise provided herein, the remaining Phantom Stock Units will vest quarterly beginning July 1, 2006, as follows: 
  

			
	 Date
	  	 Units
 Becoming Vested

	 July 1, 2006
	  	21,515
	 Quarterly, with respect to each of ten calendar quarters, beginning with October 1, 2006
	  	21,515

 Vested Phantom Stock Units will be paid to the Employee in the form of shares of Duke Energy common stock (with
each Phantom Stock Unit corresponding to one share of Duke Energy common stock) on or as soon as administratively feasible after the third anniversary of the Effective Date or, if earlier, as soon as administratively feasible after the termination
of the Employee’s employment with Duke Energy, but not later than the last business day of the month following the month in which his employment with Duke Energy terminates and, in any event, no earlier or later than the applicable date or
dates under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), in order to avoid the imposition of any taxation under such Code section. 
  

 3 

 (c) Performance Shares. Duke Energy will grant to the Employee a performance share award (a
“Performance Share Award”) with respect to 322,800 shares of Duke Energy common stock. Each performance share represents the right to receive, conditioned upon vesting, one share of Duke Energy common stock. The Performance Share Award
will not be vested at the Grant Date, but, except as otherwise provided herein, the Performance Share Award will vest as follows with respect to the various performance periods if the performance goals established by the Compensation Committee of
the Board (the “Compensation Committee”) or other appropriate committee of the Board with respect to such period shall have been achieved: 
  

			
	 Performance Period
	  	Shares Vesting
	 Period beginning on the Grant Date and ending December 31, 2006
	  	107,600
	 Calendar year ending December 31, 2007
	  	107,600
	 Calendar year ending December 31, 2008
	  	107,600

 The Corporate Governance Committee and/or other appropriate committee of the Board shall establish performance
goals for the Employee in respect of the Performance Share Award for each respective performance period, and the Performance Share Award will not vest unless and to the extent such goals are achieved (provided that vesting can occur at less than
(but not more than) the target levels set forth above for any specified performance period as determined by the Compensation Committee and vesting shall be interpolated for performance above the threshold vesting level and below the target level set
forth above). Vesting will occur only once the Compensation Committee determines that the performance goals have been met (provided that the determination of whether the performance goals in respect of any performance period have been met shall be
made not later than the first March 15 following the end of the performance period). To the extent the performance goals are not met, the Performance Share Award will be forfeited and will cease to be outstanding. With respect to each of the
respective performance periods, the performance goals shall be weighted as provided in the STI Plan (currently 80% on Duke Energy financial performance goals and 20% on individual performance goals), provided that the extent of goal attainment for
any performance period shall be determined in the aggregate. The Duke Energy financial performance goals for any performance period shall be those established under the STI Plan. Vested Performance Share Award units will be paid to the Employee in
the form of shares of Duke Energy common stock (with each Performance Share Award unit corresponding to one share of Duke Energy common stock) on or as soon as administratively feasible after the third anniversary of the Effective Date or, if
earlier, as soon as administratively feasible after the termination of the Employee’s employment with Duke Energy, but not later than the last business day of the month following the month in which his employment with Duke Energy terminates
and, in any event, no earlier or later than the applicable date or dates under Section 409A of the Code in order to avoid the imposition of any taxation under such Code section. 
 (d) Dividend Equivalents. Duke Energy will grant to the Employee dividend equivalent rights with respect to the Phantom Stock Award and the
Performance Share Award for 
  

 4 

 all periods while such Awards remain outstanding. Each dividend equivalent right represents the right to receive fully
vested cash payments, at the time that cash dividends are paid on Duke Energy common stock, in an amount equivalent to the cash dividend paid on the number of shares of Duke Energy common stock represented by the shares of Duke Energy common stock
underlying Phantom Stock Units and Performance Share Award units while such awards remain outstanding (i.e., have not been forfeited) but unpaid. 
 6. Fringe Benefits. The Employee shall be entitled to no less than five weeks of vacation annually, to be taken in accordance with Duke Energy’s policies, with no diminution in compensation. The Employee
and his eligible dependents shall also be entitled to participate in Duke Energy’s or its affiliates’ medical and dental health care plans to the extent such plans are available generally to other similarly situated senior executives of
Duke Energy and their eligible dependents (provided that the employee-paid portion of any premium contributions required of the Employee shall be made in any event on a post-tax rather than a pre-tax basis). The Employee shall also be entitled to,
at the Employee’s election on an annual basis, either participation in Duke Energy’s Executive Physicals Program or an annual physical to be performed at the Mayo Clinic by a physician of the Employee’s choosing. Except for the
foregoing, and except as expressly set forth elsewhere in this Agreement, the Employee will not be entitled to any other retirement, health, or welfare benefits, or to participation in, or the accrual of benefits under, any other retirement, health,
or welfare benefit plan, practice, policy, or program of Duke Energy or any of its affiliates. Except as specifically set forth in this Agreement, the Employee shall not be entitled to any perquisite or fringe benefit, such as company automobiles,
automobile allowances, and club memberships. The Employee shall be reimbursed for ordinary and reasonable expenses specifically including but not limited to those associated with entertainment and travel in accordance with Duke Energy policies and
procedures. To the extent the Employee incurs ordinary and reasonable expenses associated with his spouse accompanying him on business travel, and/or to the extent such travel is treated by the taxing authorities as a taxable personal benefit to the
Employee or his spouse, Duke Energy will reimburse the Employee for those expenses and will also pay to the Employee a tax gross-up payment in an amount sufficient to hold him harmless from any federal, state and local income and employment taxes
due in respect of such taxable personal benefit and related gross-up payment. Notwithstanding anything in this Section 6 to the contrary, Duke Energy acknowledges that the Employee has previously been employed by Cinergy or its predecessor or
affiliated entities, and by virtue of such previous employment he is entitled to benefits under various plans and agreements of Cinergy or its affiliates (exclusive of the Cinergy Employment Agreement or Exhibit D to the Merger Agreement). Duke
Energy and the Employee agree that the Employee’s rights to such benefits will be unaffected - neither enhanced nor diminished - as a result of his employment by Duke Energy or its affiliates following the Effective Time. Without limiting the
generality of the foregoing, Duke Energy and the Employee agree that his employment under this Agreement shall not be deemed or counted as service with Cinergy or any affiliate (as determined immediately before the Effective Time) or predecessor
entity for any purpose, including the determination of retirement dates, under such plans and agreements. 
 7. Use of Duke Energy
Aircraft. Duke Energy desires to provide for the security of the Employee during his travels, and accordingly, whenever feasible, Duke Energy will require the Employee to use Duke Energy aircraft for his business travel. The Employee will also
be permitted 
  

 5 

 to use Duke Energy aircraft for his personal travel within North America. The Employee’s access to such aircraft for
personal travel will be subject to availability in light of the use of Duke Energy aircraft for other Duke Energy business. The Employee shall reimburse Duke Energy for the cost of any such personal travel in accordance with Duke Energy’s
standard rates and reimbursement policies as in effect from time to time, and, to the extent that the provision of such aircraft is treated by the taxing authorities as a taxable personal benefit to the Employee, the Employee will be responsible for
the payment of any taxes on such income, including making payments to Duke Energy to fund withholding obligations as described in Section 10 hereof. 
 8. Certain Financial Planning and Other Expenses. Duke Energy will reimburse the Employee for the reasonable cost of transitional financial and tax planning and advisory services incurred through April 15,
2007 (or, if later the date of timely filing of the Employee’s individual income tax return for 2006), and will also pay to the Employee a tax gross-up payment in an amount sufficient to hold him harmless from any federal, state and local
income and employment taxes due in respect of such reimbursement and related gross-up payment. Duke Energy also will reimburse the Employee for the reasonable professional fees incurred by him incident to the negotiation, preparation and execution
of this Agreement, but without provision for any tax gross-up payment. 
 9. Relocation Payments. The Employee’s employment
hereunder requires that he relocate his principal residence to Charlotte, North Carolina. To compensate the Employee for the costs associated with such relocation, Duke Energy will reimburse the Employee for costs incurred on account of such
relocation in accordance with the Cinergy relocations policies and procedures or, if more favorable, the Duke Energy relocation policies and procedures, as in effect with respect to other similarly situated senior executives of Cinergy from time to
time. 
 10. Withholding. Duke Energy may effect withholdings, from the payments due to the Employee, for the payment of taxes and
other lawful withholdings, in accordance with applicable law, and to pay contributions required with respect to the participation of the Employee and any eligible dependents in Duke Energy’s medical and dental health care plans. If
circumstances arise in which such withholding is required on account of any compensation or benefits (including, without limitation, upon the payment of any compensation or benefits pursuant to Sections 5, 6, 7, 8 and 9), at a time when there are
not cash payments being made to the Employee from which such withholding obligations can be satisfied, the Employee will deliver to Duke Energy, in advance, amounts sufficient to fund such withholding or contributions obligations; provided that, in
satisfaction of any tax withholding requirement that may apply in respect of the delivery or vesting of shares of Duke Energy common stock pursuant to Section 5 hereof, the Employee at his election may require Duke Energy to withhold from any
shares of Duke Energy common stock that otherwise would become vested or deliverable pursuant to Section 5 hereof shares with a fair market value (determined as of the date delivery or vesting otherwise would be made or occur) equal to the
minimum amount of tax required to be withheld in respect of such vesting or delivery. 
 11. Confidentiality; Privileged Information.

 (a) The Employee shall not, at any time, use (other than in the ordinary course of and for the purpose of fulfilling his duties as an
employee of Duke Energy), divulge or otherwise 
  

 6 

 disclose, directly or indirectly, any confidential and proprietary information (including without limitation any customer
or prospect list, supplier list, acquisition or merger target, business plan or strategy, data, records, financial information or other trade secrets) concerning the business, policies or operations of Duke Energy or its affiliates that the Employee
may have learned or become aware of at any time on or prior to the date hereof or during the term of the Employee’s employment by Duke Energy. 
 (b) The Employee further acknowledges and agrees that all “Company Materials,” which include, but are not limited to, computers, computer software, computer disks, tapes, printouts, source, HTML and other code, flowcharts,
schematics, designs, graphics, drawings, photographs, charts, graphs, notebooks, customer lists, sound recordings, other tangible or intangible manifestation of content, and all other documents whether printed, typewritten, handwritten, electronic,
or stored on computer disks, tapes, hard drives, or any other tangible medium, as well as samples, prototypes, models, products and the like, shall be the exclusive property of Duke Energy and, upon termination of the Employee’s employment with
Duke Energy (or, in the event that the Employee continues as a director of Duke Energy, upon his ceasing to be a director of Duke Energy), or upon the request of Duke Energy, all Company Materials, including all copies thereof, as well as all other
property of Duke Energy then in the Employee’s possession or control, shall be returned to Duke Energy. For purposes of this Section 11, “Company Materials” shall include all such materials of Duke Energy’s subsidiaries.

 (c) The Employee acknowledges that the Company Materials may contain information that is confidential and subject to the attorney-client
privilege of Duke Energy or its subsidiaries or otherwise protected by attorney work product immunity. Except as required by law, the Employee agrees not to disclose to any person (other than in-house or outside counsel for Duke Energy and its
subsidiaries) the content or substance of any conversations or discussions that the Employee may have or may have had at any time, whether during his employment hereunder or otherwise. In addition, the Employee agrees that he will, if and to the
extent directed by the general counsel of Duke Energy, cooperate fully with in-house or outside counsel for Duke Energy and its subsidiaries in connection with any investigation, litigation or other matter in which such counsel represents Duke
Energy or its subsidiaries and acknowledges that his communications with such counsel will be subject to Duke Energy’s or its subsidiaries’ attorney-client privilege. 
 (d) The Employee acknowledges that these restrictions are reasonable and necessary to protect Duke Energy’s business and goodwill, and that the
obligations under this Section 11 shall survive any termination of his employment. The Employee acknowledges that if any of these restrictions or obligations are found by a court having jurisdiction to be unreasonable or overly broad or
otherwise unenforceable, he and Duke Energy agree that the restrictions or obligations shall be modified by the court so as to be reasonable and enforceable and if so modified shall be fully enforced. 
 12. Termination. 
 (a) In
General. Notwithstanding anything to the contrary contained herein, the Employee’s employment may be terminated prior to the end of the term specified in Section 3 as follows: 
 (i) by the Employee, by resigning, with 90 days’ notice; 
  

 7 

 (ii) automatically, upon the death of the Employee; 
 (iii) by Duke Energy upon 90 days’ notice. 
 Upon any termination, the Employee will be entitled to compensation, if any, accrued or payable as of the date of termination. 
 (b) Certain Terminations. The Employee shall be entitled to certain special severance payments and benefits (in addition to the provision made in Section 12(a), as applicable), as follows: 
 (i) If the Employee’s employment is terminated before the second anniversary of the Effective Date by Duke Energy without
“Cause” or by the Employee with “Good Reason” (as those terms are defined in Exhibit B hereto): 
 (A) the
Employee shall be entitled to the payments and benefits to which he would have been entitled under Section 5a(iii) of the Cinergy Employment Agreement, without interest, had the Employee’s employment been terminated immediately following
the Effective Time, except that: 
 (I) No Accrued Obligations shall be payable; 
 (II) There shall be no additional vesting or age or service credit provided under Section 5(a)(iii)(3) of the Cinergy Employment
Agreement; and 
 (III) The payments otherwise required under Section 5a(iii)(7) of the Cinergy Employment Agreement
(relating to country club annual dues and assessments) shall not be provided; and 
 (B) a portion of each LTIP Award (to the
extent then not already vested) shall vest immediately (in the case of the Performance Share Award, based on the target level of performance), such portion to be equal to (I) the number of days elapsed at the time of termination (inclusive) in
the vesting period not yet concluded at the time of termination divided by (II) the number of days in the vesting period not yet concluded at the time of termination, and all vested Options (including those that vest pursuant to the operation of
this subsection (b)(i)(B)) will remain exercisable for the full duration of their ten-year term. 
  

 8 

 (ii) If the Employee’s employment is terminated on or after the second anniversary
of the Effective Date but before the third anniversary of the Effective Date by Duke Energy without “Cause” or by the Employee with “Good Reason” (as those terms are defined in Exhibit B hereto): 
 (A) the Employee shall be entitled to the payments and benefits to which he would have been entitled under Section 5a(ii) of the
Cinergy Employment Agreement, without interest, had the Employee’s employment been terminated immediately following the Effective Time (but determined as if no “Change in Control” or “Potential Change in Control” had
occurred within the meaning of the Cinergy Employment Agreement), except that: 
 (I) No Accrued Obligations shall be
payable; 
 (II) The payment otherwise required under Section 5a(ii)(2) of the Cinergy Employment Agreement (relating
the Value Creation Plan under the Cinergy Corp. 1996 Long-Term Incentive Compensation Plan) shall not be provided; and 
 (III) The medical and dental benefits otherwise required under Section 5a(ii)(3) of the Cinergy Employment Agreement shall be based on the medical and welfare benefit plans, practices, programs or policies of Duke Energy as applicable
to other senior executives of Duke Energy, subject to the otherwise applicable terms and conditions of Section 5a(ii)(3)(A), (B) and (C) of the Cinergy Employment Agreement; and 
 (B) a portion of each LTIP Award (to the extent then not already vested) shall vest immediately (in the case of the Performance Share
Award, based on the target level of performance), such portion to be equal to (I) the number of days elapsed at the time of termination (inclusive) in the vesting period not yet concluded at the time of termination divided by (II) the number of
days in the vesting period not yet concluded at the time of termination, provided that if such a termination of employment occurs after December 31, 2008, then the Performance Share Award shall be payable (if at all) as determined in accordance
with its terms without regard to the termination of employment under this subsection (b)(ii), and all vested Options (including those that vest pursuant to the operation of this subsection (b)(ii)(B)) will remain exercisable for the full duration of
their ten-year term. 
 (iii) If the Employee’s employment is terminated for death or disability due to physical or
mental illness or injury that precludes the Employee from performing any job for which he is qualified and able to perform based upon his education, training or experience, all outstanding and unvested LTIP Awards will vest immediately (in the case
of the Performance Share Award, based on the target level of performance), and all vested Options (including those that vest pursuant to the operation of this subsection (b)(iii)) will remain exercisable for the full duration of their ten-year term.

 (iv) If the Employee’s employment is terminated by the Employee other than with “Good Reason” (as defined in
Exhibit B hereto), a portion of each LTIP Award (to the extent then not already vested) shall vest immediately (in the case of the Performance 
  

 9 

 Share Award, based on the target level of performance), such portion to be equal to (I) the number
of days elapsed at the time of termination (inclusive) in the vesting period not yet concluded at the time of termination divided by (II) the number of days in the vesting period not yet concluded at the time of termination, provided that if such a
termination of employment occurs after December 31, 2008, then the Performance Share Award shall be payable (if at all) as determined in accordance with its terms without regard to the termination of employment under this subsection (b)(iv),
and all vested Options (including those that vest pursuant to the operation of this subsection (b)(iv)) will remain exercisable for the full duration of their ten-year term. 
 (v) If the Employee’s employment is terminated by Duke Energy for “Cause” (as defined in Exhibit B hereto), a portion of
each LTIP Award (to the extent then not already vested) shall vest immediately (in the case of the Performance Share Award, based on the target level of performance), such portion to be equal to (I) the number of days elapsed at the time of
termination (inclusive) in the vesting period not yet concluded at the time of termination divided by (II) the number of days in the vesting period not yet concluded at the time of termination, provided that if such a termination of employment
occurs after December 31, 2008, then the Performance Share Award shall be payable (if at all) as determined in accordance with its terms without regard to the termination of employment under this subsection (b)(v), and all vested Options
(including those that vest pursuant to the operation of this subsection (b)(v)) will remain exercisable for a period of 90 days following termination (but not beyond their ten-year term), at which time they will expire. 
 Any capitalized terms used but not defined in this Section 12(b) shall have the meaning ascribed to them in the Cinergy Employment Agreement. The compensation and
benefits to be provided under this Section 12(b) shall be provided only if the Employee timely executes and does not timely revoke a release of claims substantially in the form attached hereto as Exhibit C. 
 (c) Certain Special Payments. 
 (i) Whether or not the Employee becomes entitled to payments or benefits pursuant to Section 12(b) of this Agreement, if any of the payments or benefits received or to be received by the Employee during the term of this Agreement
(whether pursuant to the terms of this Agreement or any other plan, arrangement or agreement of Duke Energy or Duke Energy or their affiliates) or otherwise by reason of this Agreement (a “Payment” or “Payments”) would be subject
to any excise tax imposed by Section 4999 of the Code, together with any interest, penalties, additional tax or similar items that are incurred by the Employee with respect to the excise tax imposed by Section 4999 of the Code
(collectively, the “Excise Tax”), then the Employee will be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by the Employee of all taxes (including any interest, penalties,
additional tax, or similar items imposed with respect thereto and the Excise Tax), including any Excise Tax imposed upon the Gross-Up Payment, the Employee retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon or assessable
against the Employee due to the Payments. 
  

 10 

 (ii) Subject to the provisions of this Section 12(c), all determinations required to
be made under this Section 12(c), including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such determination, shall be made by the accounting firm which
was, immediately prior to the Effective Date, Duke Energy’s independent auditor (the “Accounting Firm”), which shall provide detailed supporting calculations both to Duke Energy and the Employee within fifteen (15) business days
of the receipt of notice from the Employee that there has been a Payment, or such earlier time as is requested by Duke Energy. If the Accounting Firm determines that no Excise Tax is payable by the Employee, it shall, at the same time as it makes
such determination, furnish the Employee with an opinion that he has substantial authority not to report any Excise Tax on his federal income tax return. All fees and expenses of the Accounting Firm shall be borne solely by Duke Energy. Any Gross-Up
Payment, as determined pursuant to this Section 12(c), shall be paid by Duke Energy to the Employee within five (5) days of the receipt of the Accounting Firm’s determination. Any determination by the Accounting Firm shall be binding
upon Duke Energy and the Employee. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments which will not
have been made by Duke Energy should have been made (“Underpayment”), consistent with the calculations required to be made hereunder. In the event of any Underpayment, the Accounting Firm shall determine the amount of the Underpayment that
has occurred and any such Underpayment shall be promptly paid by Duke Energy to or for the benefit of the Employee, and Duke Energy shall indemnify and hold harmless the Employee for any such Underpayment, on an after-tax basis, including interest
and penalties with respect thereto. In the event that the Excise Tax is subsequently determined to be less than the amount taken into account hereunder at the time of termination of the Employee’s employment, then, unless otherwise treated as
an impermissible loan under applicable law, the Employee shall repay to Duke Energy, at the time that the amount of such reduction in Excise Tax is finally determined, the portion of the Gross-Up Payment attributable to such reduction (plus that
portion of the Gross-Up Payment attributable to the Excise Tax and federal, state and local income and employment tax imposed on the Gross-Up Payment being repaid by the Employee to the extent that such repayment results in a reduction in Excise Tax
and/or a federal, state or local income or employment tax deduction) plus interest on the amount of such repayment at the rate provided in Section 1274(b)(2)(B) of the Code. 
 (iii) The value of any non-cash benefits or any deferred payment or benefit paid or payable to the Employee will be determined in
accordance with the principles of Sections 280G(d)(3) and (4) of the Code. For purposes of determining the amount of the Gross-Up Payment, the Employee will be deemed to pay federal income taxes at the highest marginal rate of federal income
taxation in the calendar year in which the Gross-Up Payment is to be made and applicable state and local income taxes at the highest marginal rate of taxation in the state and locality of the Employee’s residence on the date of the
Employee’s termination of employment, net of the maximum reduction in federal income taxes that would be obtained from deduction of those state and local taxes. 
  

 11 

 (iv) Notwithstanding anything contained in this Agreement to the contrary, in the event
that, according to the Accounting Firm’s determination, an Excise Tax will be imposed on any Payment or Payments, Duke Energy will pay to the applicable government taxing authorities as Excise Tax withholding, the amount of the Excise Tax that
Duke Energy has actually withheld from the Payment or Payments in accordance with law. 
 (d) Certain Payment Disputes. Duke Energy
will reimburse the Employee for all reasonable legal fees and expenses incurred by the Employee (i) in successfully disputing pursuant to Section 19 a termination which is ultimately determined to constitute a termination of employment
entitling him to benefits pursuant to Section 12(b) or (ii) in reasonably disputing pursuant to Section 19 whether or not Cinergy has terminated his employment for Cause (as defined in Exhibit B hereto). Payment will be made within
five (5) business days after delivery of the Employee’s written request for payment accompanied by such evidence of fees and expenses incurred as Duke Energy reasonably may require. 
 13. Certain Legacy Compensation and Benefits 
 (a) Nothing herein shall be construed as adversely affecting the Employee’s right to receive compensation and benefits which have been awarded to him prior to the Effective Time, whether pursuant to his employment agreement
currently in effect with Cinergy or otherwise, and such compensation and benefits shall not be taken into account by Duke Energy in determining the Employee’s right to compensation and benefits awarded by Duke Energy on or after the Effective
Time. For the avoidance of doubt, Exhibit D hereto sets forth a list of key legacy benefits to which Employee is or will be entitled following the Effective Time. 
 (b) Without limiting the generality of Section 13(a) hereof, Duke Energy acknowledges and agrees that the Employee’s right to his supplemental retirement benefit provided, collectively, under the
Cinergy Corp. Excess Pension Plan, the Cinergy Corp. Supplemental Executive Retirement Plan and Section 3b(ii) of the Cinergy Employment Agreement remains unaffected by this Agreement. Duke Energy agrees that, unless Cinergy has undertaken such
action under the following clauses (i) and (ii) prior to the Effective Time, an amount equal to the full present value of the supplemental retirement benefit (including any nonvested portion thereof) calculated based on the actuarial
factors applicable under the Cinergy Corp. Non-Union Employees’ Pension Plan as in effect at the time of contribution (i) shall be converted as of the Effective Time into an account under the Cinergy Corp. 401(k) Excess Plan and credited
with earnings accruing thereon following the Effective Time in accordance with the terms of such 401(k) Excess Plan, and (ii) shall be contributed by Duke Energy on behalf of the Employee into a grantor trust established in respect of the
Cinergy Corp. 401(k) Excess Plan. The Employee shall receive the vested portion of his account under the Cinergy Corp. 401(k) Excess Plan, including all earnings accrued thereon, in accordance with his supplemental retirement benefit distribution
election. 
 14. Administration. 
 (a) Designation of Beneficiary. The Employee shall designate a person or persons (“Beneficiary”) to receive benefits hereunder following the death of the Employee by submitting to the Compensation
Committee a designation of Beneficiary in the form required by the 
  

 12 

 Compensation Committee. In the absence of a valid designation form, all such benefits shall be paid to the legal
representative of the Employee’s estate. If Duke Energy has any doubt as to the proper Beneficiary to receive payments hereunder, Duke Energy shall have the right to withhold such payments until the matter is finally determined. 
 (b) No Assignment. No right or benefit under this Agreement shall be subject to anticipation, alienation, sale, assignment, pledge, encumbrance or
charge, and any attempt to anticipate, alienate, sell, assign, pledge, encumber or charge such rights or benefits shall be void. 
 (c)
“Top-Hat” Plan. Duke Energy intends for the aspects of this Agreement that constitute a deferral of compensation until after termination of employment to be a “top-hat” plan (“Plan”) for a single highly
compensated management employee which is exempt from substantially all of the requirements of Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) pursuant to Sections 201(2), 301(a)(3), and 401(a)(l) of
ERISA. Duke Energy is the sponsor of the Plan under Section 3(16)(B) of ERISA. The Compensation Committee is the named fiduciary of the Plan and as such shall have the authority to control and manage the operation and administration of the Plan
except as otherwise expressly provided herein. The Compensation Committee may designate other persons to carry out fiduciary responsibilities hereunder. Any such designation must be in writing and must be accepted in writing by any such other
person. The Compensation Committee is the administrator of the Plan within the meaning of Section 3(16)(A) of ERISA. As administrator, the Compensation Committee has the authority (without limitation as to other authority) to delegate its
duties to agents and to make rules and regulations that it believes are necessary or appropriate to carry out the Plan. The Compensation Committee has the discretion as a Plan fiduciary to interpret and construe the terms and provisions of the Plan
and to make factual determinations in connection therewith. A decision of the Compensation Committee with respect to any matter pertaining to the Plan shall be conclusive and binding upon all interested persons. 
 (d) Claims Procedure. 
 (i) Claim. If the Employee or a Beneficiary has any grievance, complaint, or claim concerning any aspect of the operation or administration of the Plan (collectively referred to herein as “claim” or “claims”), the
Employee or Beneficiary shall submit the claim to the Compensation Committee, which shall have the initial responsibility for deciding the claim. 
 (ii) Written Claim. A claim for benefits will be considered as having been made when submitted in writing by the claimant to the Compensation Committee. No particular form is required for the claim, but the
claim must identify the name of the claimant and describe generally the benefit to which the claimant believes he is entitled. The claim may be delivered personally during normal business hours or mailed to the Compensation Committee. All such
claims shall be submitted in writing and shall set forth the relief requested and the reasons the relief should be granted. All such claims must be submitted within the “applicable limitations period.” The “applicable limitations
period” shall be two years beginning on: (i) in the case of any lump-sum payment, the date on which the payment was made, (ii) in the case of an installment payment, the date of the first in the series of payments, or (iii) for
all other claims, the date on which the action complained or grieved of occurred. 
  

 13 

 (iii) Committee Determination. The Compensation Committee will determine whether,
or to what extent, the claim may be allowed or denied under the terms of the Plan. If the claim is wholly or partially denied, the claimant shall be so informed by written notice within 90 days after the day the claim is submitted unless special
circumstances require an extension of time for processing the claim. If such an extension of time for processing is required, written notice of the extension shall be furnished to the claimant prior to the termination of the initial 90-day period.
Such extension may not exceed an additional 90 days from the end of the initial 90-day period. The extension notice shall indicate the special circumstances requiring an extension of time and the date by which the Plan expects to render the final
decision. If notice of denial of a claim (in whole or in part) is not furnished within the initial 90-day period after the claim is submitted (or, if applicable, the extended 90-day period), the claimant shall consider that his claim has been denied
just as if he had received actual notice of denial. 
 (iv) Notice of Determination. The notice informing the claimant
that his claim has been wholly or partially denied shall be written in a manner calculated to be understood by the claimant and shall include: 
 (1) The specific reason(s) for the denial. 
 (2) Specific reference to pertinent Plan
provisions on which the denial is based. 
 (3) A description of any additional material or information necessary for the
claimant to perfect the claim and an explanation of why such material or information is necessary. 
 (4) Appropriate
information as to the steps to be taken if the Employee or Beneficiary wishes to submit his claim for review. 
 (v)
Appeal. If the claim is wholly or partially denied, the claimant (or his authorized representative) may file an appeal of the denied claim with the Compensation Committee requesting that the claim be reviewed. The Compensation Committee shall
conduct a full and fair review of each appealed claim and its denial. Unless the Compensation Committee notifies the claimant that due to the nature of the benefit and other attendant circumstances he is entitled to a greater period of time within
which to submit his request for review of a denied claim, the claimant shall have 60 days after he (or his authorized representative) receives written notice of denial of his claim within which such request must be submitted to the Compensation
Committee. 
 (vi) Request for Review. The request for review of a denied claim must be made in writing. In connection
with making such request, the claimant or his authorized representative may: 
 (1) Review pertinent documents. 
  

 14 

 (2) Submit issues and comments in writing. 
 (vii) Determination of Appeal. The decision of the Compensation Committee regarding the appeal shall be promptly given to the
claimant in writing and shall normally be given no later than 60 days following the receipt of the request for review. However, if special circumstances (for example, if the Compensation Committee decides to hold a hearing on the appeal) require a
further extension of time for processing, the decision shall be rendered as soon as possible, but no later than 120 days after receipt of the request for review. However, if the Compensation Committee holds regularly scheduled meetings at least
quarterly, a decision on review shall be made by no later than the date of the meeting which immediately follows the receipt of a request for review, unless the request is filed within 30 days preceding the date of such meeting. In such case, a
decision may be made by no later than the date of the second meeting following the receipt of the request for review. If special circumstances (for example, if the Compensation Committee decides to hold a hearing on the appeal) require a further
extension of time for processing, the decision shall be rendered as soon as possible, but no later than the third meeting following the receipt of the request for review. If special circumstances require that the decision will be made beyond the
initial time for furnishing the decision, written notice of the extension shall be furnished to the claimant (or his authorized representative) prior to the commencement of the extension. The decision on review shall be in writing and shall be
furnished to the claimant or to his authorized representative within the appropriate time for the decision. If a decision on review is not furnished within the appropriate time, the claim shall be deemed to have been denied on appeal. 
 (viii) Hearing. The Compensation Committee may, in its sole discretion, decide to hold a hearing if it determines that a hearing is
necessary or appropriate in order to make a full and fair review of the appealed claim. 
 (ix) Decision. The decision
on review shall include specific reasons for the decision, written in a manner calculated to be understood by the claimant, as well as specific references to the pertinent Plan provisions on which the decision is based. 
 (x) Exhaustion of Appeals. The Employee or Beneficiary must exhaust his rights to file a claim and to request a review of the
denial of his claim before instituting any arbitration proceeding or bringing any civil action to recover benefits due to him under the terms of the Plan, to enforce his rights under the terms of the Plan, or to clarify his rights to future benefits
under the terms of the Plan. No action at law or in equity to recover under this Plan shall be commenced later than one year from the date of the decision on review (or deemed denial if no decision is issued). 
 (xi) Committee’s Authority. The Compensation Committee shall exercise its responsibility and authority under this claims
procedure as a fiduciary and, in such capacity, shall have the discretionary authority and responsibility (1) to interpret and construe the Plan and any rules or regulations under the Plan, and (2) to make factual determinations in
connection therewith. 
  

 15 

 15. Notice. Any notice to be given hereunder by either party to the other must be in writing and
be effectuated either by personal delivery in writing or by mail, registered or certified, postage prepaid, with return receipt requested. Mailed notices shall be addressed to the parties at the following addresses: 
 If to Duke Energy or any other Duke Energy affiliate: 
 Chairman, Compensation Committee 
  

			
	cc:	  	Mr. Christopher C. Rolfe
		  	Group Executive and Chief HR Officer
		  	Duke Energy Corporation
		  	526 South Church Street
		  	Charlotte, North Carolina 28202

 If to the Employee: 
 At the most recent contact information on file in the payroll records of Duke Energy 
 16. Waiver of
Breach. The waiver by any party to a breach of any provision in this Agreement cannot operate or be construed as a waiver of any subsequent breach by a party. 
 17. Severability. The invalidity or unenforceability of any particular provision in this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if the
invalid or unenforceable provision were omitted. 
 18. Amendment. No modifications or amendments of the terms and conditions herein
shall be effective unless in writing and signed by the parties or their respective duly authorized agents. 
 19. Governing Law and Forum
Selection. The parties agree that any dispute, claim, or controversy based on common law, equity, or any federal, state, or local statute, ordinance, or regulation (other than workers’ compensation claims) arising out of or relating in any
way to the Employee’s employment, the terms, benefits, and conditions of employment, or concerning this Agreement or its termination and any resulting termination of employment, including whether such a dispute is arbitrable, shall be settled
by arbitration. This agreement to arbitrate includes but is not limited to all claims for any form of illegal discrimination, improper or unfair treatment or dismissal, and all tort claims. The Employee will still have a right to file a
discrimination charge with a federal or state agency, but the final resolution of any discrimination claim will be submitted to arbitration instead of a court or jury. The arbitration proceeding will be conducted under the employment dispute
resolution arbitration rules of the American Arbitration Association in effect at the time a demand for arbitration under the rules is made, and such proceeding will be 
  

 16 

 adjudicated in Charlotte, North Carolina in accordance with the laws of the state of North Carolina, without regard to
any applicable state’s choice of law provisions. The decision of the arbitrator(s), including determination of the amount of any damages suffered, will be exclusive, final, and binding on all parties, their heirs, executors, administrators,
successors and assigns. Each party will bear its own expenses in the arbitration for arbitrators’ fees and attorneys’ fees, for its witnesses, and for other expenses of presenting its case. Other arbitration costs, including administrative
fees and fees for records or transcripts, will be borne equally by the parties. Notwithstanding anything in this Section 19 to the contrary, if the Employee prevails with respect to any dispute submitted to arbitration under this
Section 19, Duke Energy will reimburse or pay all legal fees and expenses that the Employee may reasonably incur as a result of the dispute. 
 20. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their permitted successors, assigns, legal representatives and heirs, but neither this Agreement nor any rights
hereunder shall be assignable by the Employee. Duke Energy will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of Duke Energy to assume
expressly and agree to perform this Agreement in the same manner and to the same extent that Duke Energy would be required to perform it if no succession had taken place. Duke Energy’s failure to obtain such an assumption and agreement prior to
the effective date of a succession will be a breach of this Agreement and will entitle the Employee to compensation from Duke Energy in the same amount and on the same terms as if the Employee’s employment were to terminate pursuant to
Section 12(b)(i) or 12(b)(ii) hereof, as the case may be, treating the date on which any such succession becomes effective as the date of employment termination. 
 21. Full Settlement; Mitigation. Except as otherwise provided in this Agreement, Duke Energy’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations under
this Agreement will not be affected by any set-off, counterclaim, recoupment, defense, or other claim, right, or action that Duke Energy may have against the Employee or others. In no event will the Employee be obligated to seek other employment or
take any other action by way of mitigation of the amounts (including amounts for damages for breach) payable to the Employee under any of the provisions of this Agreement and, except as provided in regard to medical and dental benefits to be
provided in accordance with Sections 5a(ii)(3) and 5a(iii)(4) of the Cinergy Employment Agreement (as incorporated into Section 12(b) of this Agreement), those amounts will not be reduced simply because the Employee obtains other employment.

 22. Code § 409A. It is the intention of Duke Energy and the Employee that this Agreement not result in unfavorable tax
consequences to the Employee under Section 409A of the Code. Notwithstanding anything to the contrary herein, if the Employee is a “specified employee” (within the meaning of Section 409A(a)(2)(B)(i) of the Code), any amounts
otherwise payable to or in respect of him pursuant to this Agreement shall be delayed until the earliest date permitted by Section 409A(a)(2) of the Code. The Company and the Employee agree to work together in good faith in an effort to comply
with Section 409A of the Code including, if necessary, amending this Agreement based on further guidance issued by the Internal Revenue Service from time to time, provided that Duke Energy shall not be required to assume any increased economic
burden. 
  

 17 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above
written. 
  

			
	DUKE ENERGY CORPORATION
	  
  

	By:	 	James H. Hance, Jr.
	Title:	 	Chairman, Compensation Committee
	
	EMPLOYEE
	  
  

	James E. Rogers

  

 18 

 EXHIBIT A 
 Pursuant to Section 2(b), the following service of the Employee is hereby approved as of the Effective Date: 
 Service on the board of directors of Fifth Third Bancorp 
  

 19 

 EXHIBIT B 
 For purposes of Section 12(b), “Cause” and “Good Reason” shall have the respective meanings set forth below: 
 “Cause” means: 
 (a) The willful and continued failure by the Employee to
substantially perform the Employee’s duties with Duke Energy or any of its subsidiaries or to comply with the policies, rules and decisions adopted from time-to-time by Duke Energy, its Board and any employing subsidiaries of which the Employee
is made aware or reasonably should be aware (other than any such failure resulting from the Employee’s incapacity due to physical or mental illness) that, if curable, has not been cured within 30 days after the Board has delivered to the
Employee a written demand for substantial performance, which demand specifically identifies the manner in which the Employee has not substantially performed his duties. This event will constitute Cause even if the Employee issues a Notice of
Termination (as described below) for Good Reason after the Board delivers a written demand for substantial performance. 
 (b)
The breach by the Employee of the confidentiality provisions set forth in Section 11. 
 (c) The conviction of the
Employee for the commission of a felony, including the entry of a guilty or nolo contendere plea, or any willful or grossly negligent action or inaction by the Employee that has a materially adverse effect on Duke Energy. For purposes of this
definition of Cause, no act, or failure to act, on the Employee’s part will be deemed “willful” unless it is done, or omitted to be done, by the Employee in bad faith and without reasonable belief that the Employee’s act, or
failure to act, was in the best interest of Duke Energy. 
 (d) Notwithstanding the foregoing, Duke Energy shall be deemed to
have not terminated the employment of the Employee for Cause unless and until there shall have been delivered to the Employee a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the members of the Board
(excluding the Employee, if he is a member of the Board) then in office at a meeting of the members of the Board called and held for such purpose (after reasonable notice to the Employee and an opportunity for the Employee, together with his
counsel, to be heard by the members of the Board), finding that, in the good faith opinion of the members of the Board (excluding the Employee, if he is a member of the Board), the Employee had committed an act set forth above in this definition of
Cause and specifying the particulars thereof in detail. 
  

 20 

 “Good Reason” means: 
 (a) The material reduction without his consent of the Employee’s title, authority, duties, or responsibilities from those in effect
immediately prior to the reduction, the failure by Duke Energy without the consent of the Employee to nominate the Employee for re-election to the Board, or a material adverse change in the Employee’s reporting responsibilities. 
 (b) Any breach by Duke Energy of any other material provision of this Agreement (including but not limited to the place of performance as
specified in Section 2(d)). 
 (c) A failure by Duke Energy to require any successor entity to Duke Energy specifically
to assume in writing all of Duke Energy’s obligations to the Employee under this Agreement. 
 Any termination of the Employee’s employment by Duke
Energy for Cause or by the Employee for Good Reason will be communicated by a written Notice of Termination to the other party to this Agreement in accordance with the following requirements: 
 (a) The notice indicates the specific termination provision in this Agreement relied upon as the basis for termination. 
 (b) To the extent applicable, the notice sets forth in reasonable detail the facts and circumstances claimed to provide a basis for
termination of the Employee’s employment for Good Reason or Cause (as the case may be). 
 (c) If the date of termination
of employment is other than the date of receipt of the notice, the notice specifies the date of termination, which will be no more than 30 days after the date the notice was given. The failure by the Employee or Duke Energy to set forth in the
Notice of Termination any fact or circumstances that contributes to a showing of Good Reason or Cause will not waive any right of the Employee or Duke Energy under this Agreement or preclude the Employee or Duke Energy from asserting that fact or
circumstance in enforcing rights under this Agreement. 
 (d) If for Cause, the notice must include a copy of a resolution
duly adopted by the affirmative vote of not less three quarters (3/4) of the entire membership of the Board (excluding the Employee, if he is a member of the Board) at a meeting of the Board called and held for the purpose of considering the
termination. The resolution must include a finding that, in the good faith opinion of the Board (excluding the Employee, if he is a member of the Board), the Employee was guilty of conduct set forth in the definition of Cause, and it must specify
the particulars of the conduct in detail. 
  

 21 

 EXHIBIT C 
 RELEASE OF CLAIMS 
 This RELEASE OF CLAIMS (the “Release”) is executed and delivered by James E.
Rogers (the “Employee”) to DUKE ENERGY CORPORATION (together with its successors, “Duke”). 
 In consideration of the
agreement by Duke to provide the Employee with the rights, payments and benefits under the Employment Agreement between the Employee and Duke dated
                     (the “Employment Agreement”), the Employee hereby agrees as follows: 
 Section 1. Release and Covenant. The Employee, of his own free will, voluntarily and unconditionally releases and forever discharges Duke, its
subsidiaries, parents, affiliates, their directors, officers, employees, agents, stockholders, successors and assigns (both individually and in their official capacities with Duke) (the “Duke Releasees”) from, any and all past or present
causes of action, suits, agreements or other claims which the Employee, his dependents, relatives, heirs, executors, administrators, successors and assigns has or may hereafter have from the beginning of time to the date hereof against Duke or the
Duke Releasees upon or by reason of any matter, cause or thing whatsoever, including, but not limited to, any matters arising out of his employment by Duke and the cessation of said employment or any claim for compensation, and including, but not
limited to, any alleged violation of the Civil Rights Acts of 1964 and 1991, the Equal Pay Act of 1963, the Age Discrimination in Employment Act of 1967, the Rehabilitation Act of 1973, the Employee Retirement Income Security Act of 1974, the Older
Workers Benefit Protection Act of 1990, the Americans with Disabilities Act of 1990, the North Carolina Equal Employment Protection Act and any other federal, state or local law, regulation or ordinance, or public policy, contract or tort law having
any bearing whatsoever on the terms and conditions of employment or termination of employment. This Release shall not, however, constitute a waiver of any of the Employee’s rights under the Employment Agreement. 
 Section 2. Due Care. The Employee acknowledges that he has received a copy of this Release prior to its execution and has been advised hereby of his
opportunity to review and consider this Release for 21 days prior to its execution. The Employee further acknowledges that he has been advised hereby to consult with an attorney prior to executing this Release. The Employee enters into this Release
having freely and knowingly elected, after due consideration, to execute this Release and to fulfill the promises set forth herein. This Release shall be revocable by the Employee during the 7-day period following its execution, and shall not become
effective or enforceable until the expiration of such 7-day period. In the event of such a revocation, the Employee shall not be entitled to the consideration for this Release set forth above. 
 Section 3. Nonassignment of Claims; Proceedings. The Employee represents and warrants that there has been no assignment or other transfer of any
interest in any claim which the Employee may have against Duke or any of the Duke Releasees. The Employee represents that he has not commenced or joined in any claim, charge, action or proceeding whatsoever against Duke or any of the Duke Releasees
arising out of or relating to any of the matters set forth in this Release. The 
  

 22 

 Employee further agrees that he will not seek or be entitled to any personal recovery in any claim, charge, action or
proceeding whatsoever against Duke or any of the Duke Releasees for any of the matters set forth in this Release. 
 Section 4. Reliance
by Employee. The Employee acknowledges that, in his decision to enter into this Release, he has not relied on any representations, promises or agreements of any kind, including oral statements by representatives of Duke or any of the Duke Releasees,
except as set forth in this Release and the Employment Agreement. 
 Section 5. Nonadmission. Nothing contained in this Release will be
deemed or construed as an admission of wrongdoing or liability on the part of Duke or any of the Duke Releasees. 
 Section 6.
Communication of Safety Concerns. Notwithstanding any other provision of this Agreement, the Employee remains free to report or otherwise communicate any nuclear safety concern, any workplace safety concern, or any public safety concern to the
Nuclear Regulatory Commission, United States Department of Labor, or any other appropriate federal or state governmental agency, and the Employee remains free to participate in any federal or state administrative, judicial, or legislative proceeding
or investigation with respect to any claims and matters not resolved and terminated pursuant to this Agreement. With respect to any claims and matters resolved and terminated pursuant to this Agreement, the Employee is free to participate in any
federal or state administrative, judicial, or legislative proceeding or investigation if subpoenaed. The Employee shall give Duke, through its legal counsel, notice, including a copy of the subpoena, within twenty-four (24) hours of receipt
thereof. 
 Section 7. Governing Law. This Release shall be interpreted, construed and governed according to the laws of the State of
North Carolina, without reference to conflicts of law principles thereof. 
 This RELEASE OF CLAIMS AND is executed by the Employee and
delivered to Duke on                     . 
  

									
		 	EMPLOYEE	 		 		 	
		 	  
  
	 		 		 	

  

 23 

 EXHIBIT D 
 (Legacy Benefits) 
  

	1.	Outstanding equity awards granted under the Cinergy Corp. 1996 Long-Term Incentive Compensation Plan and the Cinergy Corp. Stock Option Plan 

  

	2.	Accrued benefit under the Cinergy Corp. Non-Union Employees’ Pension Plan, Cinergy Corp. Non-Union Employees’ 401(k) Plan, Cinergy Corp. 401(k) Excess Plan and Cinergy
Corp. Nonqualified Deferred Incentive Compensation Plan 

  

	3.	Grandfathered retiree medical benefits under the Cinergy Corp. Welfare Benefit Program 

  

	4.	Deferred Compensation Agreement, dated December 16, 1992, as amended (PSI annuities) 

  

	5.	Insurance Agreement, dated October 7, 1992, as amended 

  

	6.	Performance award pursuant to Section 3.g. of Employment Agreement with Cinergy Corp., dated as of February 4, 2004 

  

 24

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