Document:

EX-10.1

 Exhibit 10.1 
  

 
 RESTRICTED STOCK UNIT AGREEMENT 

THIS RESTRICTED STOCK UNIT AGREEMENT (the “Award Agreement”) is entered into as of June 3, 2018 (the “Grant Date”) by
and between Great Plains Energy Incorporated (the “Company”) and                      (“Grantee”). All capitalized terms in this
Award Agreement that are not defined herein shall have the meaning ascribed to such terms in the Company’s Amended Long-Term Incentive Plan, as amended and restated effective May 3, 2016 (the “Plan”). 

WHEREAS, Grantee is employed by the Company or one of its subsidiaries and the Company desires to (i) encourage Grantee to acquire a
proprietary and vested long-term interest in the growth and performance of the Company, (ii) provide Grantee with an incentive to enhance the value of the Company for the benefit of its customers and shareholders, and (iii) encourage
Grantee to remain in the employ of the Company or its successor after the closing of the transaction involving the Company and Westar, Inc. (the “Merger”); and 

WHEREAS, the Company wishes to grant to Grantee, and Grantee wishes to accept, an Award of Restricted Stock Units, pursuant to the terms and
conditions of the Plan and this Award Agreement. 
 NOW, THEREFORE, in consideration of the covenants and agreements herein contained, the
parties agree as follows: 
  

	1.	Restricted Stock Unit Award. The Company hereby grants to Grantee an Award of [Number] Restricted Stock Units (the “RSUs”). Each RSU represents the right to receive one Share, subject to the terms and
conditions set forth in this Award Agreement and the Plan. Except as otherwise specifically provided herein, this Award of RSUs is subject to and governed by the applicable terms and conditions of the Plan, which are incorporated herein by
reference. 

  

	2.	Terms and Conditions. This Award of RSUs is subject to the following terms and conditions: 

  

	 	a.	Grant of RSUs. The RSUs granted hereunder shall be credited to Grantee’s RSU Account as of the Grant Date. The RSU Account shall be maintained for recordkeeping purposes only and the Company shall not be
obligated to segregate or set aside assets representing securities or other amounts credited to Grantee’s RSU Account. All amounts credited to the RSU Account shall continue for all purposes to be part of the general assets of the Company.

	 	b.	Vesting of RSUs. Provided that Grantee remains continuously employed by the Company or one of its subsidiaries, affiliates, or successors during the period beginning on the “Closing Date” (as defined in
the Amended and Restated Agreement and Plan of Merger by and among Westar Energy, Inc., Great Plains Energy Incorporated, Monarch Energy Holding, Inc., and King Energy, Inc., dated as of July 9, 2017) of the Merger through June 5, 2020
(the day after the second anniversary of the Closing Date) (the “Restricted Period”), 100% of the RSUs shall vest on June 5, 2020 (the “Vesting Date”). If Grantee’s employment terminates for any reason (including by
reason of voluntary resignation, death, disability or dismissal by the Company with or without cause), other than a Post-Merger CiC Termination, before the Vesting Date, Grantee will immediately forfeit all the RSUs (and any additional RSUs that
have been credited due to the conversion of Dividend Equivalents in accordance with paragraph (e) below) credited to Grantee’s RSU Account. If Grantee experiences a Post-Merger CiC Termination, 100% of the RSUs (and any additional RSUs
that have been credited to Grantee’s RSU Account due to the conversion of Dividend Equivalents in accordance with paragraph (e) below) shall vest on the date Grantee experiences the Post-Merger CiC Termination (the “Post-Merger CiC
Termination Vesting Date”). For purposes of this Award Agreement, a “Post-Merger CiC Termination” occurs if during the Restricted Period: (i) Grantee’s employment with the Company, its affiliates, and its successors is
terminated by the Company, other than for Cause, after a Change in Control occurring subsequent to the Merger, or (ii) Grantee voluntarily resigns for Good Reason after a Change in Control occurring subsequent to the Merger. 

 

	 	c.	Limits on Transfer of RSUs. Subject to any exceptions set forth in the Plan, during the Restricted Period and until such time as the RSUs are settled in accordance with the terms of this Award Agreement, neither
the RSUs nor any rights relating thereto may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by Grantee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the RSUs or the
rights relating thereto shall be wholly ineffective and, if any such attempt is made, the RSUs will be immediately forfeited by Grantee and all of Grantee’s rights to the RSUs shall immediately terminate without any payment, settlement, or
consideration by the Company. 

  

	 	d.	No Rights as a Shareholder until RSUs Settled. Grantee shall not have any rights of a shareholder with respect to the Shares underlying the RSUs unless and until the RSUs vest and are settled by the issuance of
Shares. Upon and following the settlement of the RSUs, Grantee shall be the record owner of the Shares underlying the RSUs unless and until such Shares are sold or otherwise disposed of, and as record owner shall be entitled to all the rights of a
shareholder of the Company. 

  

	 	e.	 Dividend Equivalents. If, prior to the settlement date, the Company declares a cash dividend on Shares,
then, on the payment date of the dividend, Grantee’s RSU Account shall be credited with additional RSUs. The number of additional RSUs credited (including a fractional RSU) shall be the quotient obtained by dividing the aggregate cash amount
that would have been paid as a dividend on 

	 	
the Shares underlying all RSUs credited to Grantee’s RSU Account by the Fair Market Value of a Share on the date such dividend payment is made to the Company shareholders. Any additional
RSUs credited to Grantee’s RSU Account which are attributable to Dividend Equivalents shall be subject to the same risk of forfeiture, same transferability restrictions and the same vesting conditions, and result in the issuance of Shares at
the same time and same manner, as the original underlying RSUs. If, prior to the settlement date, the Company declares a stock dividend on Shares, then, on the payment date of the stock dividend, Grantee’s RSU Account shall be credited with
additional RSUs as if each RSU in the RSU Account were a Share. 

  

	 	f.	Settlement of RSUs. No later than 30 days after the earlier of (i) the Vesting Date or (ii) the Post-Merger CiC Termination Vesting Date, the Company shall issue and deliver to Grantee a number of
Shares equal to the aggregate number of RSUs (with any fractional RSU being rounded to the nearest whole number) then credited to Grantee’s RSU Account and vested. 

 

	 	g.	Tax Withholding on RSU Settlement. No Shares will be delivered under this Agreement until either (i) Grantee has paid to the Company the amount that must be withheld under federal, state, and local income
and employment tax laws or (ii) Grantee and the Company have made satisfactory provision for the payment of such taxes. Unless otherwise not permitted by the Compensation and Development Committee (which may disallow Share withholding at any
time) or contrary to an election Grantee submitted to the Company in accordance with established Company policy, the Company shall first withhold such taxes from the Shares (valued at their Fair Market Value) otherwise eligible to be delivered under
this Award, if any. 

  

	3.	Amendment. This Award Agreement may be amended only in the manner provided by the Company evidencing both parties’ agreement to the amendment. This Award Agreement may also be amended, without prior notice
to Grantee and without Grantee’s consent prior to any Change in Control by the Committee if the Committee in good faith determines the amendment does not materially adversely affect any of Grantee’s rights under this Award Agreement.

  

	4.	Entire Agreement. This Award Agreement contains the entire agreement between Grantee and the Company with respect to the subject matter hereof, and superseded all prior agreements or understandings between the
parties relating thereto. 

  

	5.	Contingent Nature of Agreement. Notwithstanding anything else herein to the contrary, this Agreement is contingent on both (i) the closing of the Merger and (ii) the Company’s receipt of an
executed copy of the Agreement. 

 GREAT PLAINS ENERGY INCORPORATED 
  

							
	By:	 	  
	    	By:	 	  

		 	Terry Bassham	    		 	Grantee
		 		    		 	Date: June     , 2018EX-10.2

 Exhibit 10.2 
  

 
 CASH RETENTION PAYMENT AGREEMENT 

THIS CASH RETENTION PAYMENT AGREEMENT (“Agreement”), dated as of this
3rd day of June, 2018, is by and between Great Plains Energy Incorporated (the “Company”) and
                     (“Employee”). 

WHEREAS, the Company has entered into the Merger Agreement, the consummation of which will result in an operational combination of the Company
and Westar Energy, Inc. (the “Merger”). 
 WHEREAS, to encourage Employee to remain employed with the Company or its successor
through the day after the second anniversary of the Closing Date of the Merger, the Company and Employee are willing to enter into this Agreement. 

AGREEMENT 
 The Company
and Employee agree as follows: 
 Article 1 

Definitions 
 Whenever used
in this Agreement, the following words and phrases have the meanings specified below: 
 “Closing Date” as defined in the
Merger Agreement. 
 “Cash Retention Payment” means that payment made under Article 2 of this Agreement but subject to
potential repayment in accordance with Article 3. 
 “Merger Agreement” means the Amended and Restated Agreement and Plan
of Merger by and among Westar Energy, Inc., Great Plains Energy Incorporated, Monarch Energy Holding, Inc., and King Energy, Inc., dated as of July 9, 2017. 

“Separation from Service” or “Separates from Service” means Employee’s death, retirement or other termination
of employment or service from the Company (or an affiliate or successor of the Company). A Separation from Service will not occur if Employee is on military leave, sick leave or other bona fide leave of absence (such as temporary employment by the
government) if the period of such leave does not exceed six months, or if longer, as long as Employee’s right to reemployment with Company is provided either by statute or by contract. 

 Article 2 

Cash Retention Payment 

The Company will pay to Employee
$                     (the “Cash Retention Payment”), less all applicable payroll and other tax withholdings, within twenty (20) days
following the later of (i) the Company’s receipt of an executed copy of this Agreement or (ii) the Closing Date. In the event Employee experiences a Separation from Service, for any reason, before June 5, 2020 (the day after the
second anniversary of the Closing Date) (the “Retention Date”), Employee shall be obligated to repay the net amount of the Cash Retention Payment after deduction of tax withholdings to the Company pursuant to the terms of Article 3 of this
Agreement. If Employee remains actively and continuously employed by the Company (or an affiliate or successor of the Company) through the Retention Date any and all repayment obligations imposed by Article 3 of this Agreement shall cease and under
no circumstances shall Employee become obligated to repay to the Company the Cash Retention Payment. 
 Article 3 

Repayment Obligation 
 If
Employee Separates from Service for any reason (including by reason of voluntary resignation, death, disability or dismissal by the Company with or without cause or as a result of an involuntary termination in connection with the Merger or any other
change in control of the Company) before the Retention Date, Employee acknowledges, understands, and agrees that within the 30 day period following such a Separation from Service Employee must repay to the Company an amount equal to the Cash
Retention Payment, less all applicable tax withholdings, previously paid to Employee. Employee further acknowledges, understands, and agrees that the Company shall be entitled to deduct from any other compensation payable to the Employee (other than
deferred compensation that is subject to Section 409A of the Internal Revenue Code) any amounts that Employee is required to pay to the Company in accordance with this Article 3. Employee’s repayment obligation under this Article 3 shall
survive the termination of this Agreement. 
 Article 4 

Miscellaneous 

4.1.    No Guarantee of Employment. This Agreement is not an employment policy or contract. It does not give Employee the right to
remain an employee of the Company, nor does it interfere with the Company’s right to discharge Employee. It also does not require Employee to remain an employee nor interfere with Employee’s right to terminate employment at any time. 

4.2.    Binding Effect. This Agreement shall bind Employee, the Company, and their beneficiaries, survivors, executors, successors,
assigns, administrators and transferees. 
 4.3.    Termination of Employment. For purposes of this Agreement, if there is any
dispute over the employment status of Employee or the date of Employee’s Separation from Service, the Company has the sole and absolute right to decide the dispute. 

 4.4.    Applicable Law. The Agreement and all rights hereunder shall be governed by
the laws of the State of Missouri. 
 4.5.     Entire Agreement. This Agreement constitutes the entire agreement between
the Company (or Company affiliates) and Employee, as to the subject matter hereof and supersedes all prior agreements between the parties hereto relating directly to the subject matter hereof including any prior retention payments or agreements
relating to the Merger. No rights are granted to Employee by virtue of this Agreement other than those specifically set forth herein. 

4.6.    Contingent Nature of Agreement. Notwithstanding anything else herein to the contrary, this Agreement is contingent on both
(i) the closing of the Merger and (ii) the Company’s receipt of an executed copy of the Agreement. 
 Employee and the
Company have signed this Agreement effective as of the date stated above in the preamble to this Agreement. 
  

							
	 EMPLOYEE
	    		    	 GREAT PLAINS ENERGY
INCORPORATED

			
	
                 
	    		    	          

				
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