Document:

exv10w10

Exhibit 10.10

FIRST AMENDMENT TO THE

NISOURCE INC.

1994 LONG-TERM INCENTIVE PLAN

(AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2005)

BACKGROUND

	A.	 	NiSource Inc. (the “Company”) maintains the NiSource Inc. 1994 Long-Term Incentive Plan,
amended and restated effective January 1, 2005 (the “Plan”).
	 
	B.	 	The Company desires to amend the Plan to allow the Company’s Chief Executive Officer to have
discretion to grant awards to certain employees.
	 
	C.	 	The Company also desires to amend the Plan to establish a claw-back provision in which the
Company recovers from a participant in the Plan amounts previously paid to the Participant
when the Company later learns that such payment was not proper.
	 
	D.	 	Section 21 of the Plan gives the Company the ability to amend the Plan.

PLAN AMENDMENT

	1.	 	Section 3(c) is added to the Plan to read as follows:
	 
	 	 	(c) CEO’s Pool of Shares. A portion of the shares available for Awards under this Plan, to
be determined by the Committee, may be reserved for the Chief Executive Officer of the
Corporation (the “CEO”) to make certain Awards (the “CEO Pool”). The CEO may grant any type
of Award with shares from the CEO Pool; provided however, that the CEO may not grant any
Award to any executive officers. Awards available for grant from the CEO Pool will be
authorized from time to time by the Committee. The Committee may at any time remove from
the CEO Pool any shares that have not yet been granted under Awards.
	 
	2.	 	Section 25 is added to the Plan to read as follows:
	 
	 	 	25. Over/Under Payment. If any Participant or beneficiary receives an underpayment of
Shares or cash payable under the terms of any Award, payment of any such shortfall shall be
made as soon as administratively practicable. If any Participant or beneficiary receives an
overpayment of Shares or cash payable under the terms of any Award for any reason, the
Committee or its delegate shall have the right, in its sole discretion, to take whatever
action it deems appropriate, including but not limited to the right to require repayment of
such amount or to reduce future payments under this Plan, to recover any such overpayment.
Notwithstanding the foregoing, if the Company is required to prepare an accounting
restatement due to the material noncompliance of the Company, as a result
of misconduct, with any financial reporting requirement under the securities laws, and if

 

 

	 	 	the Participant knowingly or grossly negligently engaged in the misconduct, or knowingly or
grossly negligently failed to prevent the misconduct, or if the Participant is one of the
individuals subject to automatic forfeiture under Section 304 of the Sarbanes-Oxley Act of
2002, the Participant shall reimburse the Company the amount of any payment in settlement of
an Award earned or accrued during the twelve- (12-) month period following the first public
issuance or filing with the United States Securities and Exchange Commission (whichever just
occurred) of the financial document embodying such financial reporting requirement.

	3.	 	The remainder of the Plan shall remain unchanged.

     IN WITNESS WHEREOF, the Company has caused this First Amendment to be executed on its behalf,
by its officer duly authorized, this 22nd day of January, 2009.

	 	 	 	 	 
	 	NISOURCE INC.

 	 
	 	By:  	/s/ Robert D. Campbell
 	 
	 	 	 	 
	 	 	 	 
	 

2exv10w12

Exhibit 10.12

NISOURCE INC.

1994 LONG-TERM INCENTIVE PLAN

FORM OF CONTINGENT STOCK AGREEMENT

     This
Agreement is made as of the ___ day of _______________, between NiSource Inc. (the
“Company”) and
__________________ (the “Grantee”). In consideration of the agreements set forth
below, the Company and the Grantee agree as follows:

     1. Grant.
A contingent stock award (“Award”) of _______________ shares (“Contingent
Shares”) of the Company’s common stock, par value of $.01 each (“Common Stock”), will be granted by
the Company to the Grantee, subject to the following contingencies, terms and conditions. This
Award is also subject to the provisions of the NiSource Inc. 1994 Long-Term Incentive Plan as
amended and restated effective January 1, 2005 (the “Plan”), the terms of which are incorporated by
reference herein, except for the dividend reinvestment provision contained in Section 14 of the
Plan. The number of Contingent Shares to be granted pursuant to this Agreement shall be maintained
as a bookkeeping entry on the books of the Company until the Common Stock underlying the Contingent
Shares is delivered. No funds shall be set aside or earmarked for any Contingent Share. The right
of the Grantee or his or her beneficiary to receive a distribution hereunder shall be an unsecured
claim against the general assets of the Company, and neither the Grantee nor his or her beneficiary
shall have any rights in or against any amounts credited to the books of the Company or any other
specific assets of the Company.

     2. Transfer Restrictions. Neither the rights with respect to the Award nor the
Contingent Shares shall be sold, assigned, pledged or otherwise transferred, voluntarily or
involuntarily, by the Grantee prior to the lapse of the “Performance Restrictions” (as set forth in
Section 3 of this Agreement), and until permitted pursuant to the terms of the Plan.

     3. Lapse of Performance Restrictions.

          (a) The Performance Restrictions shall lapse on the date the Officer Nomination and
Compensation Committee of the Board of Directors of the Company certifies that the following
conditions have been met: (i) cumulative “net operating earnings” per share of Common Stock for the
three year period beginning January 1, 2008, and ending December 31, 2010 (the “Performance
Period”), equal or exceed $3.90, and (ii) cumulative “funds from operations” for the Performance
Period equal or exceed $2.8 billion. Upon the lapse of the Performance Conditions, the Grantee
shall receive ___ shares of Common Stock. To the extent the cumulative “net operating earnings”
per share of Common Stock for the Performance Period exceed $3.90 (as described above), 50% of this
number of shares of Common Stock shall be increased as follows:

 

 

	 	 	 	 	 
	Cumulative Net	 	Increase
	Operating Earnings	 	In
	Per Share	 	Award
	$3.96
	 	 	10	%
	$4.02
	 	 	20	%
	$4.08
	 	 	30	%
	$4.14
	 	 	40	%
	$4.20
	 	 	50	%

     To the extent cumulative “funds from operations” for the Performance Period exceed $2.8 billion (as
described above), 50% of the number of shares of Common Stock promised under this Section 3 shall
be increased as follows:

	 	 	 	 	 
	Cumulative Net	 	Increase
	Funds from	 	In
	Operations	 	Award
	$2.825 billion
	 	 	10	%
	$2.85 billion
	 	 	20	%
	$2.875 billion
	 	 	30	%
	$2.9 billion
	 	 	40	%
	$2.925 billion
	 	 	50	%

     An Award of all shares of Common Stock granted in accordance with this Section 3 will be
delivered to the Grantee no later than March 15, 2011.

          (b) As soon as practicable after the end of the Performance Period, the Committee will certify
in writing whether the Performance Restrictions have been met for the Performance Period and
determine the number of shares of Common Stock, if any, payable in accordance with Section 3(a) of
this Agreement; provided, however, that if the Committee certifies that the Performance
Restrictions have been met, the Committee may, in its sole discretion, adjust the number of shares
of Common Stock payable to the Grantee with respect to the Award to reflect the effect of
extraordinary events upon the Performance Restrictions. The date of the Committee’s certification
under this Section 3(b) shall hereinafter be referred to as the “Certification Date”. The Company
will notify the Grantee (or the executors or administrators of the Grantee’s estate, if
appropriate) of the Committee’s certification following the Certification Date (such notice being
the “Determination Notice”). The Determination Notice shall specify (i) the Company’s cumulate
earnings per share and return on invested capital for the Performance Period and (ii) the number of
shares of Common Stock payable in accordance with the Committee’s certification.

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          (c) Except as otherwise provided herein, if the Grantee’s employment terminates for any reason
before the lapse of the Performance Restrictions, the Award shall automatically terminate and the
Grantee shall not be entitled to receive any shares of Common Stock under this Agreement. If,
however, before the lapse of the Performance Restrictions, the Grantee terminates employment with
the Company and its Affiliates (1) due to retirement, with having attained age 55 and completed 10
years of Service, (2) due to disability (as defined in Internal Revenue Code Section 409A and the
regulations promulgated thereunder (“Code Section 409A”), or (3) due to death with less than or
equal to 12 months remaining in the Performance Period, the Grantee shall receive a pro rata
distribution of shares of Common Stock after the Certification Date, provided that the Committee
actually certifies that the Performance Restrictions for the Performance Period have been met.
Such pro rata grant of Common Stock shall be determined using a fraction, where the numerator shall
be the number of full or partial calendar months elapsed between the Date of Award and the date the
Grantee terminates employment, and the denominator shall be the number of full or partial calendar
months elapsed between the Date of Award and December 31, 2010. Additionally, if before the lapse
of the Performance Restrictions, the Grantee terminates employment with the Company and its
Affiliates due to death with more than 12 months remaining in the Performance Period, the Grantee
shall receive, as soon as practicable after the date of termination, a pro rata distribution of
shares of Common Stock equal to the number of shares of Common Stock that the Grantee otherwise
would have received had the Performance Restrictions been met for the Performance Period. The
Grantee will not be entitled to any additional shares provided in Section 3(a) of this Agreement
for exceeding the Performance Restrictions. Such pro rata grant of Common Stock shall be
determined using a fraction, where the numerator shall be the number of full or partial calendar
months elapsed between the Date of Award and the date the Grantee terminates employment, and the
denominator shall be the number of full or partial calendar months elapsed between the Date of
Award and December 31, 2010. For purposes of this Agreement, “Service” has the same meaning used
in the NiSource Inc. and Northern Indiana Public Service Company Pension Plan or such other pension
plan in which the Grantee is a Participant.

     4. Change in Control. Notwithstanding the provisions of Section 3 above, in the event
of a Change in Control of the Company, as defined in the Plan, all Performance Restrictions and
Employment Restrictions applicable to the Contingent Shares shall lapse on the fifth business day
prior to the date such Change in Control is consummated. Grantees will not be entitled to an
increased number of shares (as provided in Section 3 of the Plan) upon such Change in Control even
if the target Performance Restrictions are exceeded.

     5. Forfeiture. All of the Contingent Shares with respect to which the Performance
Restrictions have not lapsed shall be forfeited to the Company upon the date the Board of Directors
of the Company determines that performance triggers described in Section 3 above have not been met.
All of the Contingent Shares not forfeited pursuant to the preceding sentence, and with respect to
which the Employment Restrictions have not lapsed, shall be forfeited to the Company upon the
Grantee’s termination of employment with the Company and its affiliates for any reason other than
those identified in Section 3 above.

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     6. Issuance of Certificates. Certificates of Common Stock relating to any of the
Contingent Shares shall be issued in Grantee’s name and delivered to the Grantee as soon as
practicable after the Certification Date. However, notwithstanding any provision to the contrary,
if, in the reasonable determination of the Company, a Grantee is a “specified employee” for
purposes of Code Section 409A, then, if necessary to avoid the imposition on the Grantee of excise
tax and interest under Code Section 409A, the Company shall not deliver the Common Stock otherwise
payable upon the Grantee’s termination and separation of service until a date that is as soon as
practicable after 6 months following the Grantee’s termination and separation of service from the
Company.

     7. No Rights as Stockholder. During the Performance Period and until Common Stock has
been issued, the Grantee shall not have any rights as a stockholder of the Company with respect to
the Contingent Shares.

     8. Section 162(m) Limitation on Contingent Shares. Notwithstanding Sections 3 and 4,
during any calendar year with respect to which the Grantee is a “covered employee” (as defined in
Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code), or any successor
section, and regulations issued thereunder), the Employment Restrictions shall lapse only
with respect to such number of Contingent Shares whose aggregate fair market value (calculated with
reference to the closing price of Common Stock on the New York Stock Exchange Composite
Transactions on the date such Employment Restrictions would, but for this Section 8 lapse), when
added to the Grantee’s “applicable employee remuneration” (as defined in Section 162(m) of the Code
or any successor section regulations thereunder) for the applicable calendar year that does not
constitute “qualified performance-based compensation” (as defined in Section 162(m) of the Code or
any successor section and regulations thereunder), would not exceed the aggregate amount of
$999,999.00 for the applicable calendar year (“Limitation”).

          To the extent the restrictions on any Contingent Shares do not lapse due to the application of
this Section 8, the restrictions on such Contingent Shares shall lapse on the first to occur of:

          (a) the last business day of any subsequent calendar year or years to the extent that the
Limitation is not exceeded for such year or years;

          (b) the date next following the Grantee’s termination of employment with the Company and its
affiliates for any reason other than for Cause, or

          (c) the first business day of the year next following the year with respect to which the
Grantee ceases to be a “covered employee” (as defined in Section 162(m) of the Code or any
successor section and regulations thereunder).

     “Cause means the Grantee’s conviction for the commission of a felony, or the Grantee’s fraud
or dishonesty which has resulted in or is likely to result in material economic damage to the
Company or any affiliate.

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     9. Government Regulations. Notwithstanding anything contained herein to the contrary,
the Company’s obligation to issue or deliver certificates evidencing Common Stock shall be subject
to all applicable laws, rules and regulations, and to such approvals by any governmental agencies
or national securities exchanges as may be required.

     10. Withholding Taxes. The Company shall have the right to require the Grantee to
remit to the Company, or to withhold from other amounts payable to the Grantee, as compensation or
otherwise, an amount sufficient to satisfy all federal, state and local withholding tax
requirements as provided in the Plan.

     11. Governing Law. This Agreement shall be construed under the laws of the State of
Indiana.

     12. Securities Law Compliance. The delivery of all or any of the Common Stock
relating to Contingent Shares shall only be effective at such time that the issuance of such Common
Stock will not violate any state or federal securities or other laws. The Company is under no
obligation to effect any registration of Common Stock under the Securities Act of 1933 or to effect
any state registration or qualification of the Common Stock issued under this Agreement. The
Company may, in its sole discretion, delay the delivery of Common Stock or place restrictive
legends on Common Stock in order to ensure that the issuance of any Common Stock will be in
compliance with federal or state securities laws and the rules of any exchange upon which the
Company’s Common Stock is traded. If the Company delays the delivery of Common Stock in order to
ensure compliance with any state or federal securities or other laws, the Company shall deliver the
Common Stock at the earliest date at which the Company reasonably believes that such delivery will
not cause such violation, or at such other date that may be permitted under Code Section 409A.

     13. Entire Agreement; Code Section 409A Compliance. This Agreement and the Plan
contain the terms and conditions with respect to the subject matter hereof and supersede any
previous agreements, written or oral, relating to the subject matter hereof. This Agreement shall
be interpreted in accordance with Code Section 409A. This Agreement shall be deemed to be modified
to the maximum extent necessary to be in compliance with Code Section 409A’s rules. If the Grantee
is unexpectedly required to include in the Grantee’s current year’s income any amount of
compensation relating to the Contingent Shares because of a failure to meet the requirements of
Code Section 409A, then to the extent permitted by Code Section 409A, the Grantee may receive a
distribution of Common Stock in an amount not to exceed the amount required to be included in
income as a result of the failure to comply with Code Section 409A.

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          IN WITNESS WHEREOF, the company has caused this Award to be granted, and the Grantee has
accepted this Award, as of the date first above written.

	 	 	 	 	 
	 	NISOURCE INC.

 	 
	 	By:  	 	 
	 
	 	 	 	 
	 	 	(Grantee) 	 
	 

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