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EXHIBIT 10.34

                     SECOND AMENDMENT TO THE
                       VECTREN CORPORATION
                 DIRECTORS RESTRICTED STOCK PLAN
      (AS LAST AMENDED AND RESTATED EFFECTIVE MAY 1, 1997)

    Pursuant to rights reserved under Section 17 of the Indiana
Energy, Inc. Directors Restricted Stock Plan (the "Plan"),
Vectren Corporation renames the Plan and further amends the Plan,
effective October 1, 2000, as follows:

1.  Section 10 of the Plan is amended to provide, in its
entirety, as follows:

     Section 10.  Grant of Restricted Shares.  An Eligible
     Director shall be entitled to a grant of Shares for any
     Term of Office ending after the Effective Date.  As soon as
     practicable after the beginning of each Term of Office, the
     Secretary of Energy shall issue to each Grantee a number of
     restricted Shares determined by dividing:

       (i)  three (3) or, if the Grantee's Term of Office for
       which the grant relates is for a period of less than
       three (3) years, the number of years, with fractional
       years computed to the nearest twelfth (12th), in such
       Term of Office; and

       (ii) one-third (1/3) of the Grantee's annual rate of
       remuneration (exclusive of any Attendance Fees) from the
       Participating Companies in effect on such date;

     by

     (b)  the average of the daily averages of the high and low
     sales price of the Shares for the five (5) consecutive
     trading days immediately preceding the first day of such
     Term of Office (as reported in The Wall Street Journal),
     rounding up or down any fractional Share to the nearest
     whole Share.  Notwithstanding anything contained in this
     Section to the contrary, each Eligible Director shall
     receive a grant of Shares on October 1, 2000, as provided
     in the Exhibit accompanying the resolution dated September
     27, 2000 approving this Amendment, which Shares shall have
     a Period of Restriction which ends on October 1, 2003 or,
     if earlier, on any of the dates described in Subsections
     (b), (c), (d) or (e) of Section 11.  This special grant on
     October 1, 2000 is reflective of the fact that there has
     not been a grant of Shares under the Plan since January 1,
     1999 as a result of the consummation of the Agreement and
     Plan of Merger, dated as of June 11, 1999 and among Indiana
     Energy, Inc., SIGCORP and Vectren Corporation.  Moreover,
     solely with respect to this grant, in the event of the
     retirement of an Eligible Director prior to the lifting of
     the restrictions associated with the grant, the
     Compensation Committee shall be empowered to provide such
     director with all or part of the grant.

<PAGE>

2.  Section 11 of the Plan is amended to provide, in its
    entirety, as follows:

     Section 11.  Restrictions on Transferability.  Until the
     lifting of the restrictions on the Shares granted under
     Section 10 hereof, no Shares granted under Section 10 of
     the Plan may be sold, transferred, pledged, assigned, or
     otherwise alienated or hypothecated, otherwise than by will
     or by the laws of descent and distribution.  Subject to
     Section 10, the Period of Restriction with respect to any
     Share granted under Section 10 shall expire upon the first
     to occur of the following:

     (a)  the expiration of the Term of Office for
          which the grant relates without effect to
          any extension of such Term of Office because
          of the failure to elect a successor
          Director,

     (b)  the Grantee's death or Disability,

     (c)  the involuntary termination of the Grantee's
          status as a Director of the Participating
          Companies by the Participating Companies,

     (d)  conditioned upon the approval of the
          majority of the Directors other than the
          affected Grantee, the Grantee's voluntary
          termination of his status as a Director of
          Energy before the expiration of the Term of
          Office for which the grant relates because
          of health problems or, in the case of a
          Grantee whose principal place of residence
          at the beginning of his Term of Office is
          Indiana, because of the relocation of his
          principal place of residence outside of
          Indiana and such voluntary termination is
          not approved by the majority of the
          Directors of Energy other than the affected
          Grantee; or

     (e)  a Change in Control of Energy;

     provided, however, that under no circumstances shall the
     Shares be transferable and free of restriction before the
     expiration of a six (6) month period beginning on the first
     day of the Term of Office or, if later, their date of
     issuance.

3.   All references to Indiana Energy, Inc. and Energy shall be
     changed to Vectren Corporation and Vectren, respectively.

<PAGE>

     This Second Amendment has been executed on this 1st day of
October 2000, to be effective as of October 1, 2000.

                           VECTREN CORPORATION

                      By:  /s/ Robert L. Koch II
                           Robert L. Koch II

                           Chairman of the Compensation
                           Committee of the Board of Directors
                           of Vectren CorporationEXHIBIT 10.35

                     THIRD AMENDMENT TO THE
                       VECTREN CORPORATION
                 DIRECTORS RESTRICTED STOCK PLAN
      (AS LAST AMENDED AND RESTATED EFFECTIVE MAY 1, 1997)

     Pursuant to rights reserved under Section 17 of the Vectren
Corporation Directors Restricted Stock Plan (the "Plan"), Vectren
Corporation amends the Plan, effective March 28, 2001, as
follows:

     1.  Section 10 of the Plan is amended to provide, in its
entirety, as follows:

     Section 10.  Grant of Restricted Shares.  An Eligible
Director shall be entitled to a grant of Shares on each May 1
("Grant Date"), beginning on May 1, 2001; provided, however, that
if an Eligible Director's Term of Office does not commence on
May 1st, the term "Grant Date" for such Eligible Director shall
mean the date his or her Term of Office commences.  As soon as
practicable after each Grant Date, the Secretary of Vectren shall
issue to each Grantee a number of restricted Shares determined by
dividing:

     (a)  an amount equal to the product of:

         (i)  one (1) or, if the Grantee's Grant Date does not
              fall on a May 1, the product of:

              (A)  1/12th and

              (B)  the number of full calendar months from the
                   Grant Date until the next May 1;

         and

         (ii)  the Grantee's annual rate of remuneration
               (exclusive of any Attendance Fees) from the
               Participating Companies in effect on such date;

by

     (b)  the average of the daily averages of the high and low
          sales price of the Shares for the five (5) consecutive
          trading days immediately preceding the Grant Date (as
          reported in The Wall Street Journal),

rounding up or down any fractional Share to the nearest whole
Share.  Notwithstanding anything contained in this Section to the
contrary, each Eligible Director shall receive a grant of Shares

<PAGE> 2

on October 1, 2000, as provided in the Exhibit accompanying the
resolution dated September 27, 2000, approving this Amendment,
which Shares shall have a Period of Restriction which ends on
October 1, 2003 or, if earlier, on any of the dates described in
Subsections (b), (c), (d) or (e) of Section 11.  This special
grant on October 1, 2000 is reflective of the fact that there has
not been a grant of Shares under the Plan since January 1, 1999
as a result of the consummation of the Agreement and Plan of
Merger, dated as of June 11, 1999 and among Indiana Energy, Inc.,
SIGCORP, Inc. and Vectren Corporation.  Moreover, solely with
respect to this grant, in the event of the retirement of an
Eligible Director prior to the lifting of the restrictions
associated with the grant, the Compensation Committee shall be
empowered to provide such director with all or part of the grant.

     2.  Section 11 of the Plan is amended to provide, in its
entirety, as follows:

     Section 11.  Restrictions on Transferability.  Until the
lifting of the restrictions on the Shares granted under Section
10 hereof, no Shares granted under Section 10 of the Plan may be
sold, transferred, pledged, assigned, or otherwise alienated or
hypothecated, otherwise than by will or by the laws of descent
and distribution.  Subject to Section 10, the Period of
Restriction with respect to any Share granted prior to May 1,
2001 under Section 10 shall expire upon the first to occur of the
following:

     (a)  the expiration of the Term of Office for which the
          grant relates without effect to any extension of such
          Term of Office because of the failure to elect a
          successor Director;

     (b)  the Grantee's death or Disability;

     (c)  the involuntary termination of the Grantee's status as
          a Director of the Participating Companies by the
          Participating Companies;

     (d)  conditioned upon the approval of the majority of the
          Directors other than the affected Grantee, the
          Grantee's voluntary termination of his or her status as
          a Director of Vectren before the expiration of the Term
          of Office for which the grant relates because of health
          problems or, in the case of a Grantee whose principal
          place of residence at the beginning of his or her Term
          of Office is Indiana, because of the relocation of his
          or her principal place of residence outside of Indiana
          and such voluntary termination is approved by the
          majority of the Directors of Vectren other than the
          affected Grantee; or

     (e)  a Change in Control of Vectren;

<PAGE> 3

Subject to Section 10, the Period of Restriction with respect to
any Share granted on or after May 1, 2001 under Section 10 shall
expire upon the first to occur of the following:

     (a)  the May 1 immediately following the Grant Date;

     (b)  the Grantee's death or Disability;

     (c)  the involuntary termination of the Grantee's status as
          a Director of the Participating Companies by the
          Participating Companies;

     (d)  conditioned upon the approval of the majority of the
          Directors other than the affected Grantee, the
          Grantee's voluntary termination of his or her status as
          a Director of Vectren before the May 1 immediately
          following the Grant Date because of health problems or,
          in the case of a Grantee whose principal place of
          residence at the Grant Date is Indiana, because of the
          relocation of his or her principal place of residence
          outside of Indiana and such voluntary termination is
          approved by the majority of the Directors of Vectren
          other than the affected Grantee;

     (e)  conditioned upon the approval of the majority of the
          Directors other than the affected Grantee, the
          Grantee's retirement as a Director of Vectren, provided
          that in the event of such retirement any outstanding
          grant shall be limited to an amount proportionate to
          the time period from May 1 through the end of the month
          during which the retirement is effective; or

     (f)  a Change in Control of Vectren;

provided, however, that under no circumstances shall the Shares
be transferable and free of restriction before the expiration of
a six (6) month period beginning on the Grant Date or, if later,
their date of issuance.

     This Third Amendment has been executed on this 28th day of
March, 2001, to be effective as of March 28, 2001.

                           VECTREN CORPORATION

                     By:   /s/ Robert L. Koch  II
                           Robert L. Koch II

                     Its:  Chair of the Compensation Committee

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