Document:

Form of Restricted Stock Award

 

Exhibit 10.1

 

AMEREN
CORPORATION

LONG-TERM
INCENTIVE PLAN OF 1998

NOTICE
OF RESTRICTED STOCK AWARD

You have
been awarded restricted shares of the Company’s common stock, $0.01 par value
per share (“Restricted Stock”), subject to the following terms and
conditions:

	
      o 
      Name of Grantee:
	
      «Name»

	 	 
	
      o 
      Total Number of Shares of Restricted Stock Awarded:
	
      «Restricted_Shares_Granted__»

	 	 
	
      o 
      Date of Grant: 
	 
	 	 
	
      o 
      Common Stock Ownership Level

      of
      Base Salary
	
      «Ownership_Guideline__of_Base»
      % 

	 	 

In
addition to certain performance-based vesting requirements set forth in the
Restricted Stock Award attached hereto as Exhibit
A (“Restricted
Stock Award”), until you attain the age of 65 or certain other events occur (as
set forth in the Restricted Stock Award), you will be required to achieve a
certain ownership level of common stock based on the percentage of your Base
Salary stated above before you can become vested in the Restricted Stock. The
details of the ownership level requirement are described in the Restricted Stock
Award. Your target ownership percentage is subject to change in the event your
position within the Company changes during the term of this award.

	§  	
      This
      award of Restricted Stock is being made pursuant to, and is governed by,
      the terms of the Restricted
      Stock Award and the Ameren Corporation Long-Term Incentive Plan of
      1998.

	§  	
      This
      award of Restricted Stock is conditioned upon your endorsement of the
      irrevocable stock power attached hereto as Exhibit B. If you do not return
      the attached irrevocable stock power within sixty (60) days from the Date
      of Grant, this award shall be deemed forfeited. As such, promptly endorse
      and return the attached irrevocable stock power to the Vice President of
      Human Resources at the following
address:

 

           
Ms. Donna K. Martin

Senior
Vice President and Chief Human Resources Officer

Ameren
Services

P. O. Box
66149

Mail Code
500

St.
Louis, MO 63166-6149

 

	§  	
      If
      you wish to elect a designated beneficiary to whom shares of common stock
      otherwise due to you pursuant to the terms of this award shall be
      distributed in the event of your death prior to distribution, please
      complete and return to the Vice President of Human Resources, along with
      your irrevocable stock power, the beneficiary designation form attached
      hereto as Exhibit
      C.

	
      Dated:
	
      AMEREN
      CORPORATION

	 	 
	 	 
	 	 
	 	 
	 	 Title: 
      Senior Vice President and Chief Human Resources
Officer

 

1

 

EXHIBIT
A

RESTRICTED
STOCK AWARD 

UNDER
THE

AMEREN
CORPORATION LONG-TERM INCENTIVE PLAN OF 1998

 

Ameren
Corporation, a Missouri corporation ("Company"), has granted you ("Grantee") an
award of restricted stock pursuant to the terms and conditions set forth in your
Notice of Restricted Stock Award (“Grant Notice”), this Restricted Stock Award
(“Award”) and the Ameren Corporation Long-Term Incentive Plan of 1998, as
amended from time to time (“Plan”). The text of the Plan and the Grant Notice
are incorporated herein by reference and made a part of this Award.

 

1. Definitions. For
purposes of this Award, the following terms shall have the meanings set forth
below:

 

“Annual
Eligible Vesting Amount” means the
number of shares of Common Stock equal to (i) the Target Shares for the
applicable Performance Year, multiplied by (ii) the Performance Rating for such
Performance Year.

 

“Award” means
this Restricted Stock Award.

 

“Base
Salary” shall
mean Grantee’s annualized rate of base remuneration payable from the Company as
of the applicable Determination Date, excluding all overtime, bonuses, fringe
benefits and extraordinary items.

 

“Board” means
the Board of Directors of the Company.

 

“Cause” means
(i) the willful and continued failure of Grantee to perform substantially
Grantee’s duties with the Company (other than any such failure resulting from
incapacity due to physical or mental illness) after a written demand for
substantial performance is delivered to Grantee by the Board or the Chief
Executive Officer of the Company which specifically identifies the manner in
which the Board or Chief Executive Officer believes that Grantee has not
substantially performed Grantee’s duties, or (ii) the willful engaging by
Grantee in illegal conduct or gross misconduct which is materially and
demonstrably injurious to the Company (or any subsidiary of the Company). For
purposes of this definition, no act or failure to act on the part of Grantee
shall be considered “willful” unless it is done, or omitted to be done, by
Grantee in bad faith or without reasonable belief that Grantee’s action or
omission was in the best interest of the Company (or any subsidiary of the
Company). Any act or failure to act based upon authority given pursuant to a
resolution duly adopted by the Board or upon the instructions of the Chief
Executive Officer or a senior officer of the Company or based upon the advice of
counsel for the Company shall be conclusively presumed to be done, or omitted to
be done, by Grantee in good faith and in the best interests of the Company (or
any subsidiary of the Company).

 

“Change
of Control” shall
have the meaning ascribed to such term in section 9 of the
Plan.

 

“Code” means
the Internal Revenue Code of 1986, as amended, and regulations
thereunder.

 

“Committee” means
the Human Resources Committee of the Board or such other Board committee
designated by the Board in accordance with the Plan.

 

“Common
Stock” means
the Company’s common stock, $0.01 par value per share.

 

“Company” means
Ameren Corporation and any successor thereto.

 

“Date
of Grant” means
the Date of Grant set forth on the Grant Notice.

 

“Determination
Date” means the
first March 1 after the
end of the Performance Year.

 

“Disability” means
the inability of Grantee to perform his or her duties (as they existed
immediately prior to the illness or injury) on a full-time basis for 180
consecutive business days as a result of illness or injury.

 

“EIP” means
the Ameren Executive Incentive Plan.

 

“Forfeited
Shares” means
the Target Shares which have been forfeited for a given Performance Year because
the Threshold Level was not achieved for such Performance Year.

 

“Grant
Notice” means
the Notice of Restricted Stock Award accompanying this Award.

 

“Maximum
Level” means the
maximum earnings per share level established by the Committee in its sole
discretion for the Performance Year pursuant to the EIP.

 

“Normal
Retirement” means
the voluntary termination of employment by Grantee on or after Grantee attains
age 65.

 

“Ownership
Level” means
the ownership by Grantee of Common Stock in an amount equal to the percentage of
Grantee’s Base Salary set forth on the Grant Notice as of the relevant
Determination Date. The Committee shall have sole discretion to adjust the
percentage of Grantee’s Base Salary with respect to which the Ownership Level is
measured in the event Grantee’s position within the Company changes. For
purposes of determining whether the Ownership Level has been achieved, all
shares of Common Stock owned by Grantee shall be taken into account (including
shares of Common Stock held for the benefit of Grantee in a qualified retirement
plan maintained by the Company and shares of Common Stock granted pursuant to
this Award (vested or unvested) which have not been forfeited as of the relevant
Determination Date. For purposes of determining whether Grantee owns the
requisite amount of Common Stock as of the Determination Date, the per share
price used shall be the closing sale price per share on the Determination Date
as reported on the New York Stock Exchange Composite Tape, or if there is no
sale on such date, then on the last previous day on which a sale was
reported.

 

“Performance
Rating” means
the actual achievement of the Threshold Level, Target Level or Maximum Level for
the Performance Year, expressed on a sliding scale as a performance rating. The
applicable performance ratings are set forth on Schedule
A. The
performance ratings set forth on Schedule
A shall be
adjusted to account for an achievement level which falls between the Threshold
Level, Target Level and Maximum Level. Additionally, the Committee shall have
sole discretion to determine the extent to which, if any, level of financial
achievement has been satisfied for a given Performance Year.

 

“Performance
Year” means a
one-year performance period during the Seven-Year Performance Period which
coincides with the applicable performance year under the EIP. 

 

“Plan” means
the Ameren Corporation Long-Term Incentive Plan of 1998, as amended from time to
time.

 

 

 

2

 

“Pro
Rata Remaining Shares” means
the whole number of shares of Common Stock equal to (i) the excess of (x) the
total amount of shares of Common Stock subject to this Agreement, minus (y) the
cumulative amount of Forfeited Shares and Vested Shares for prior Performance
Years, those Restricted Shares which have not become Vested Shares solely on
account of failure to achieve the requisite Ownership Level, and any shares of
Common Stock which shall vest pursuant to section 5(b) hereof, multiplied by
(ii) a fraction, the denominator of which shall be 365, and the numerator of
which shall be the number of days Grantee worked during such Performance Year
prior to the Termination Date.

 

“Pro
Rata Vesting Amount” means
the product of (i) the Annual Eligible Vesting Amount for the Performance Year
in which termination of employment occurs pursuant to section 5 hereof,
multiplied by (ii) a fraction, the denominator of which shall be 365, and the
numerator of which shall be the number of days Grantee worked during such
Performance Year prior to the Termination Date.

 

“Remaining
Shares” means
the whole number of shares of Common Stock equal to the excess of (i) the total
amount of shares of Common Stock subject to this Award, minus (ii) the
cumulative amount of Forfeited Shares and Vested Shares for prior Performance
Years and those Restricted Shares which have not become Vested Shares solely on
account of failure to achieve the requisite Ownership Level.

 

“Restricted
Shares” means
shares of Common Stock subject to this Award which are subject to the
Restrictions. This amount shall include any additional shares of Common Stock
resulting from the investment of dividends declared on existing Restricted
Shares pursuant to section 8 hereof and additional or different securities
issued as a result of any adjustment pursuant to section 11 hereof.

 

“Restrictions” means
the restrictions set forth in section 3 hereof which are imposed on shares of
Common Stock subject to this Agreement prior to vesting.

 

“Seven-Year
Performance Period” means
the period commencing on the first day of the calendar year in which occurs the
Date of Grant and ending on the last day of the sixth calendar year following
the calendar year in which occurs the Date of Grant.

 

“Severance
Plan” means
the Ameren Corporation Change of Control Severance Plan, as amended from time to
time.

 

“Target
Level” means
the targeted level of earnings per share established by the Committee in its
sole discretion for the Performance Year pursuant to the EIP.

 

“Target
Shares” means
one-seventh of the original number of Restricted Shares awarded pursuant to this
Agreement allocated to a Performance Year, with fractional shares rounded to the
nearest whole share of Common Stock (for which purpose one-half share shall be
rounded down to the nearest whole share of Common Stock). The number of Target
Shares available for future Performance Periods shall be adjusted accordingly to
account for any such rounding so the aggregate number of the Target Shares for
all seven Performance Periods equals the number of Restricted Shares originally
awarded pursuant to this Agreement. Additionally,
Target Shares for each Performance Year shall be adjusted accordingly to account
for additional shares of Common Stock resulting from dividend reinvestments
pursuant to section 8 hereof or any adjustment pursuant to section 11
hereof.

 

“Termination
Date” means the
effective date of termination of Grantee’s employment, as determined by the
Committee in its sole discretion.

 

 

3

“Threshold
Level” means the
minimum level of earnings per share established by the Committee in its sole
discretion for the Performance Year which must be achieved in order for an
incentive award to be available under the EIP.

 

“Vested
Shares” means
the shares of Common Stock subject to this Agreement which have become vested
pursuant to section 4, 5 or 7 hereof and are, therefore, no longer subject to
the Restrictions or the Ownership Level requirements.

 

2. Grant
of Restricted Stock.
Pursuant to action of the Board and/or the Committee, the Company hereby awards
to Grantee the number of shares of Common Stock as set forth on the Grant
Notice. 

 

3. Restrictions. From
the Date of Grant until the date Grantee obtains a vested right to shares of
Common Stock subject to this Award pursuant to section 4, 5, 7 or 12 hereof,
neither the shares of Common Stock subject to this Award (including any
additional shares resulting from the reinvestment of dividends declared on the
original shares awarded or an adjustment of the original shares pursuant to
section 11 hereof) nor any right or privilege pertaining thereto may be sold,
assigned, transferred, pledged, hypothecated or otherwise disposed or encumbered
in any way, otherwise than by transfer to a trust in accordance with Section 16
hereof, and shall not be subject to execution, attachment or similar process
(collectively, the “Restrictions”). Any attempt to sell, transfer, assign,
pledge, hypothecate or otherwise dispose of or encumber the Restricted Shares or
any right or privilege pertaining thereto, otherwise than by transfer to a trust
pursuant to Section 16 hereof, shall be null and void and of no force and
effect. Upon the lapse of the Restrictions with respect to any shares of Common
Stock subject to this Award, Grantee shall obtain a vested right to such shares
of Common Stock.

 

4. Vesting. Except
as otherwise provided in section 5, 7 or 12, the Restrictions shall lapse with
respect to the Restricted Shares only to the extent certain performance criteria
are achieved and Grantee achieves a certain ownership level of Common Stock.

 

(a) Annual
Vesting. Subject
to subsection 4(c) hereof, for each Performance Year, the Restrictions shall
lapse with respect to the number of Restricted Shares equal to the lesser of (i)
the Annual Eligible Vesting Amount, or (ii) the Remaining Shares. As of the
Determination Date after the end of each Performance Year, the Committee shall
calculate the number of Restricted Shares which shall become Vested Shares in
accordance with the foregoing formula provided the Ownership Level requirement
of subsection 4(c) is achieved. Fractional shares of Common Stock shall be
rounded to the nearest whole share (for which purpose one-half share shall be
rounded down to the nearest whole share). Target Shares for a Performance Year
in which the Performance Rating is less than the Threshold Level shall be
forfeited as of the end of such Performance Year (without payment of
consideration by the Company) (“Forfeited Shares”). Vesting under this Section
shall continue after Grantee’s termination of employment on or after attainment
of age 65, except if such termination is by the Company for Cause. Vesting under
this Section shall cease upon Grantee’s termination of employment for any reason
before age 65 or by the Company for Cause.

 

(b) Accelerated
Vesting. Subject
to subsection 4(c) hereof, if, as of the Determination Date following the end of
the third Performance Year, the Committee determines, in its sole discretion,
that the accelerated performance vesting criteria set forth on Schedule
B have been
achieved, the Restrictions shall lapse with respect to all Restricted Shares
subject to this Agreement except for Forfeited Shares. Vesting under this
Section shall continue after Grantee’s termination of employment on or after
attainment of age 65, except if such termination is by the Company for Cause.
Vesting under this Section shall cease upon Grantee’s termination of employment
for any reason before age 65 or by the Company for Cause.

 

 

4

(c) Ownership
Level Requirements.

(i) Pre-Age
65. Prior
to the date on which Grantee attains age 65, the Restrictions shall not lapse
with respect to the Restricted Shares eligible for vesting pursuant to
subsection 4(a) or 4(b) hereof unless Grantee has achieved his or her requisite
Ownership Level as of the Determination Date immediately following the
Performance Year in which such Restricted Shares have become eligible for
vesting pursuant to subsection 4(a) or 4(b) hereof. For each Performance Year,
the Ownership Level shall be deemed to have been achieved only if Grantee
maintains the requisite Ownership Level as of the Determination Date immediately
following such Performance Year. If the Committee determines, in its sole
discretion, that Grantee has not achieved the Ownership Level as of the relevant
Determination Date, the Restricted Shares which would otherwise have vested
pursuant to subsection 4(a) or 4(b) hereof if not for the Ownership Level
requirement shall not be forfeited, but shall remain subject to the Restrictions
until and unless the requisite Ownership Level has been achieved as of a future
Determination Date. However, unless subsection 4(c)(ii) or section 5(b) hereof
shall apply, such Restricted Shares shall be forfeited (without payment of
consideration by the Company) in accordance with subsection 5(d) and section 6
hereof if the requisite Ownership Level is not achieved as of the last
Determination Date immediately preceding termination of employment.

(ii) Age
65. If, and
when, Grantee attains age 65 while employed by the Company, the Ownership Level
requirements set forth in subsection 4(c)(i) hereof shall no longer serve as a
condition to vesting. Consequently, at such time, the Restrictions shall lapse
with respect to the Restricted Shares which have become eligible for vesting
pursuant to subsection 4(a) or (4)(b) hereof but which have not become Vested
Shares solely because of Grantee’s failure to achieve the requisite Ownership
Level. Thereafter, the Restrictions with respect to the Restricted Shares which
satisfy the vesting criteria set forth in subsection 4(a) or 4(b) hereof shall
lapse irrespective of the Ownership Level requirements of subsection 4(c)(i)
hereof.

(iii) Exception. The
vesting restrictions of this Section 4.4(c) shall not apply to any shares which
vest under the second to last sentence of Section 4(a) or 4(b).

5. Vesting
of Restricted Shares Upon Termination of Employment for any Reason Other Than
Termination by the Company for Cause.

(a) Irrespective
of the Ownership Level requirement, if Grantee’s employment is terminated before
age 65 for any reason other than termination by the Company for Cause, the
Restrictions with respect to the number of Restricted Shares equal to the lesser
of (i) the Pro Rata Vesting Amount, or (ii) the Pro Rata Remaining Shares shall
lapse as of the Determination Date immediately following the calendar year in
which the Termination Date occurs.

(b) Unless
otherwise vested pursuant to subsection 5(a) hereof, if Grantee’s employment is
terminated on account of Death, Disability, Normal Retirement or termination by
the Company without Cause, Restricted Shares which would have vested pursuant to
subsection 4(a) or 4(b) hereof, but have not yet vested because of Grantee’s
failure to achieve the requisite Ownership Level pursuant to subsection 4(c)
hereof, shall vest as of such Termination Date.

(c) Irrespective
of the Ownership Level requirement, if such Termination Date occurs prior to, or
on, the Determination Date immediately following the end of the third
Performance Year, and Grantee’s employment is terminated for any reason before
age 65 other than termination by the Company for Cause, Grantee shall be
eligible to vest in an additional number of Restricted Shares provided the
Committee 

 

 

 

5

 

determines, in its sole discretion, that the accelerated
vesting performance criteria set forth on Schedule
B have
been achieved. If the Committee determines that the accelerated vesting
performance criteria set forth on Schedule
B have
been achieved, the Restrictions shall lapse with respect to an additional number
of Restricted Shares equal to the product of (a) the number of Restricted Shares
which have neither vested nor been forfeited as of the Determination Date
immediately following the end of the third Performance Year, multiplied by (b) a
fraction, the denominator of which shall be 1,095, and the numerator of which
shall be the number of days Grantee worked during the Seven-Year Performance
Period prior to the Termination Date. In the event the Termination Date occurs
on or before the Determination Date immediately following the end of the third
Performance Year, Restricted Shares which shall vest pursuant to either
subsection 5(a) or 5(b) hereof shall be deemed to have previously vested for
purposes of this section 5(c) hereof.

(d) Any
Restricted Shares in excess of the Restricted Shares which have vested pursuant
to Sections 4 or 7 or subsections 5(a), 5(b) or 5(c) hereof shall be forfeited
to the Company without payment of consideration by the Company as soon as such
Restricted Shares have no possibility of vesting under Sections 4 or
5.

6. Termination
for Cause. Grantee
shall forfeit (without payment of consideration by the Company) all Restricted
Shares with respect to which the Restrictions have not lapsed upon the
occurrence of a termination of Grantee’s employment by the Company for
Cause.

7. Change
of Control.
Notwithstanding anything herein to the contrary, upon the occurrence of a Change
of Control prior to Grantee’s Termination Date, the Restrictions shall lapse
with respect to the number of Restricted Shares which have neither vested nor
been forfeited prior to the Change of Control, irrespective of whether Grantee
has achieved the requisite Ownership Level as of the date of such Change of
Control. 

8. Custody,
Voting and Dividends.
Restricted Shares shall be held in book-entry form by the Company or its agent
for Grantee’s account, with appropriate notation of the Restrictions made in the
custodian’s records. Additionally,
the grant of Restricted Shares is conditioned upon Grantee’s endorsement in
blank of the irrevocable stock power attached to the Grant Notice as Exhibit B.
The irrevocable stock power must be endorsed and returned to the Vice President
of Human Resources within sixty (60) days from the Date of Grant. Failure to do
so within the prescribed time period will result in an immediate forfeiture of
the Restricted Shares.
Dividends declared on Restricted Shares shall be reinvested in additional shares
of Common Stock (in accordance with such methods or procedures as shall be
established from time to time by the Committee), which shall vest concurrently
with the Restricted Shares. To the extent the Restricted Shares have not been
forfeited, Grantee shall be entitled to voting privileges associated with the
Restricted Shares.

 

9. Lapse
of Restrictions. If, and
when, the Restrictions lapse, the Company shall distribute such Vested Shares
into a separate book-entry account, which will not bear any restrictive legend.
Additionally, the Company will deliver to Grantee no later than thirty (30) days
following the lapse of such Restrictions the related irrevocable stock power
held by the Company pursuant to section 8 hereof. 

 

10. Committee
Discretion. This
Award has been made pursuant to a determination made by the Committee. The
Committee shall have plenary authority to (a) interpret any provision of this
Award, (b) make any determinations necessary or advisable for the administration
of this Award, and (c) waive any conditions or rights under this Award, or
amend, alter, accelerate, suspend, discontinue or terminate this Award;
provided, however, that, except as provided in section 11 hereof, without
the consent of Grantee, no such amendment, 

 

 

 

6

 

alteration, suspension, discontinuation or
termination of this Award may impair the rights of Grantee under this Award.

 

11. Adjustments.
Notwithstanding anything to the contrary herein, in the event that the Committee
shall determine that any dividend or other distribution (whether in the form of
cash, shares or other property), recapitalization, stock split, reverse stock
split, reorganization, merger, consolidation, spin-off, combination, repurchase,
or share exchange, or other similar corporate transaction or event, affects the
Restricted Shares such that an adjustment is determined by the Committee to be
appropriate in order to prevent dilution or enlargement of the rights of Grantee
under this Award, then the Committee shall, in such manner as it may deem
equitable, make any adjustments to this Award it deems appropriate. In addition,
the Committee is authorized to make such adjustments as it deems appropriate in
the terms and conditions of, and the criteria included in, the Award in
recognition of unusual or nonrecurring events (including, without limitation,
events described in the preceding sentence) affecting the Company or any
subsidiary or affiliate or the financial statements of the Company or any
subsidiary or affiliate, or in response to changes in applicable laws,
regulations or accounting principles. 

 

12. Tax
Withholding. Upon the
lapse of the Restrictions (or any such earlier time, if any, that an election is
made under Section 83(b) of the Code, or any successor provision thereto, to
include the value of such shares in taxable income), the Company shall be
entitled to withhold from Grantee’s compensation any required taxes, including
Grantee’s social security and Medicare taxes and federal, state and local income
tax with respect to the income arising from the lapse of the Restrictions. The
Company shall have the right to require the payment of any such taxes before
delivering the stock certificate with respect to the Vested Shares and the
related stock power held by the Company in accordance with section 8 hereof.
Alternatively, in lieu of such withholding, Grantee shall be entitled to cover
all or any part of the taxes arising from the lapse of the Restrictions through
a reduction of the number of Vested Shares delivered to Grantee or a delivery,
or tender, to the Company of shares of Common Stock already held by Grantee, in
each case valued in the same manner as used in computing withholding taxes under
the applicable laws. Additionally, to the extent it is determined by a
regulatory agency or a court of competent jurisdiction that shares of Common
Stock which would otherwise be considered Restricted Shares pursuant to the
terms of this Award nevertheless result in current federal or state taxation,
(i) all Restrictions as to such shares shall immediately lapse,
(ii) such Shares shall immediately become Vested Shares and
(iii) Grantee shall be entitled to cover all or any part of the taxes
through a reduction of such Restricted Shares resulting in the taxable
event.

 

13. Beneficiary
Designations. Grantee
shall file with the Vice President of Human Resources on the form attached to
the Grant Notice as Exhibit
C, or such
other form as may be prescribed by the Company, a designation of a primary
beneficiary(ies) and a contingent beneficiary(ies) to whom shares of Common
Stock otherwise due to Grantee pursuant to the terms hereof shall be distributed
in the event of the death of Grantee prior to distribution. Grantee shall have
the right to change the beneficiary from time to time; provided, however, that
any change shall not become effective until received in writing by the secretary
of the Company or its designee. If any designated beneficiary survives Grantee
but dies before receiving all of Grantee’s benefits hereunder to which he or she
is entitled, any remaining benefits due Grantee to which the deceased
beneficiary is entitled shall be distributed to the deceased beneficiary’s
estate. If there is no effective beneficiary designation on file at the time of
Grantee’s death, or if the designated primary beneficiary(ies) and contingent
beneficiary(ies) predecease Grantee, the payment of benefits shall be made to
Grantee’s estate.

 

14. No
Right to Continued Employment. Nothing
in this Award shall be deemed to create any limitation or restriction on such
rights as the Company otherwise would have to terminate the employment of
Grantee at any time for any reason.

 

7

15. Governing
Law. To the
extent federal law does not otherwise control, the validity, interpretation,
performance and enforcement of this Award shall be governed by the laws of the
State of Missouri, without giving effect to principles of conflicts of laws
thereof.

 

16. Successors
and Assigns. The
provisions of this Award shall be binding upon and inure to the benefit of the
Company, its successors and assigns, and Grantee and, to the extent applicable,
Grantee’s legal representative. Grantee may transfer Restricted Shares to the
trustee of a trust only to the extent approved in advance by the Committee (or
its designee), in its sole discretion, and the Restricted Shares are held by
such trustee subject to all the terms and conditions set forth in this Award.
Furthermore, as a condition to transfer, the Committee (or its designee) shall
have the authority to require the trustee to execute any documentation deemed
appropriate by the Committee (or its designee) to ensure the Restricted Shares
will continue to be subject to the terms and conditions set forth in this
Award.

 

17. Indemnification. If
Grantee institutes any legal action in seeking to obtain or enforce, or is
required to defend in any legal action the validity or enforceability of, any
benefit provided by this Award, the Company will pay for all actual legal fees
and expenses incurred (as incurred) by Grantee, regardless of the outcome of
such action.

 

8

SCHEDULE
A

 

	
      Performance
      Level Achieved

       
	
      Performance
      Rating

       

	
      Threshold
      Level

       
	
      0.5

       

	
      Target
      Level

       
	
      1.0

       

	Maximum
      Level

       
	1.5

       

 

9

SCHEDULE
B

The
achievement of an average earnings per share growth rate of at least 10% per
Performance Year over the first three Performance Years, as determined by the
Committee in its sole discretion. In determining the growth rate in earnings per
share, the Committee may make adjustments as it deems appropriate for
acquisitions, divestitures or other one-time events.

10

 

EXHIBIT
B

Instructions:
Please
do not fill in any blanks other than the printed name line, the signature line
and the date. The
purpose of this irrevocable stock power is to enable the Company to exercise
full ownership and control over the restricted stock subject to the Award in the
event of forfeiture.

IRREVOCABLE
STOCK POWER

FOR VALUE
RECEIVED, and pursuant to the Restricted Stock Award dated as of
_________________ (the “Award”), the undersigned does hereby sell, assign,
transfer and convey to Ameren Corporation (the “Company”) ________________
shares of Ameren Corporation common stock, $0.01 par value, represented by
Certificate(s) No. ____________, and hereby irrevocably constitutes and appoints
_____________________ to transfer said stock on the books of the Company, with
full power of substitution in the premises. 

______________________________________

Printed
Name

______________________________________                    _______________ 

             Signature                         Date

 

EXHIBIT
C

AMEREN
CORPORATION LONG-TERM INCENTIVE PLAN OF 1998

Restricted
Stock Award dated as of ______________, 20_____

and
all future Restricted Stock Awards

Designation
of Beneficiary

I,
______________________________________________________________ (“Grantee”),
hereby designate

PRIMARY            

(Print
Beneficiary’s Name)   Last    First    Middle
Initial

 

Print
Beneficiary’s Address            
        Relationship

 

 

(Print
Beneficiary’s Name)        Last       First       Middle
Initial

 

Print
Beneficiary’s Address                  Relationship

as my
primary beneficiary(ies) for purposes of the above-referenced award and all
future restricted stock awards (“Awards”). In the event of my death prior to the
distribution of all shares of Common Stock otherwise due to me pursuant to the
Awards, such primary beneficiary(ies) shall receive the remaining amount in
equal shares. If none of the above-named primary beneficiary(ies) survive me,
the remaining amount of shares of Common Stock shall be distributed in equal
shares to those then living of the following person(s):

 

 

SECONDARY           

(Print
Beneficiary’s Name)      Last       First       Middle
Initial

Print
Beneficiary’s Address                         Relationship

 

SECONDARY

(Print
Beneficiary’s Name)      Last       First     
       Middle
Initial

 

Print
Beneficiary’s Address                   
       Relationship

It is
understood that this Designation of Beneficiary is made pursuant to the Awards
and is subject to the conditions stated therein. It is further understood that
all prior designations of beneficiary under the Awards are hereby revoked and
that this Designation of Beneficiary may only be revoked in writing, signed by
Grantee and filed with the Company prior to Grantee’s death.

 

___________________________                _______________________________

Date                              Grantee

 

ACKNOWLEDGED
AND ACCEPTED BY THE COMPANY:

___________________________                _______________________________

Date                                  Signature
of Company Representative2005 Ameren Executive Incentive Plan

Exhibit 10.2

 

[Missing Graphic Reference]

2005
Ameren Executive Incentive Plan (EIP)

Ameren
Corporation

Officer
Level

The
Ameren Executive Incentive Plan (EIP) is intended to reward contributions to
Ameren’s shareholder value. 

PLAN
PARTICIPATION

All
applicable members of the Ameren Leadership Team are eligible to participate in
the EIP.

PLAN
FUNDING

Plan
funding is the total amount of incentive money available to award. The plan is
funded based on the achievement of Ameren Corporation’s earnings per share (EPS)
for the plan year (achievement levels may be adjusted to reflect refunds and
rate changes under regulatory sharing plans or other extraordinary one-time
events). Three levels of EPS achievement will be established to reward
participants for progress achieved in overall EPS performance. Achievement of
EPS falling between the established levels will be interpolated. The three
levels are defined as:

	1.  	
      Threshold:
      This is the minimum
      level of corporate financial achievement for incentive awards to be
      available. Since the payment of incentives reflects a large cost to the
      organization, Ameren must achieve this level of EPS to justify the payment
      in respect to our owners, the shareholders.

	2.  	
      Target:
      This is Ameren’s targeted
      level of financial achievement. This is the level our shareholders and
      Wall Street expect Ameren to achieve. 

	3.  	
      Maximum:
      This level shares higher
      rewards in years of high financial success. This level will be very
      difficult to achieve, but in years of outstanding performance, executives
      will share in Ameren’s success.

BONUS
AWARD OPPORTUNITIES

Annual
bonus award opportunity percentages are set by the Human Resources Committee of
the Board of Directors.

PERFORMANCE
COMPONENT WEIGHTINGS

There are
two performance components (or measures) of the plan: EPS and Business Line
KPIs/Individual. The performance components are the measures used to determine a
bonus award pay-out. Each component is weighted. This weight indicates how much
of the available funding will be available for each component. 

People
are the Foundation of our Success and the Key to Achieving our
Vision

Exhibit
10.2

The
weightings for the 2005 plan are:

EPS       50%

Business
Line KPIs/Individual         50%

EPS:  
This component is the corporate level of measurement; Ameren’s earnings per
share achievement. Fifty percent of the available bonus funds will be available
for payment to each executive based on corporate success. 

Business
Line/Individual:  
Each executive will have 50% of their available bonus determined by the success
of their individual contributions. The success of their respective business line
or function’s compensation KPIs will be used as the basis of the
assessment.

PLAN
PAYMENT

Awards
will be paid by 3/15/2006. The bonus award percentage will be based on each
executive’s base salary as of 12/31/2005. Payment will be prorated for
participants who become eligible after 1/1/2005 or who retire, die or become
disabled during 2005. The salary basis for those who retire, die or become
disabled will be as of the date of retirement, death or disability.

The Human
Resources Committee of the Board of Directors will approve the final amount of
payment upon recommendation of the CEO of Ameren Corporation.

 

 

Schedule

2005
Executive Incentive Plan Targets

	Executive
      Levels
	
      2005
      EIP Target

	
      CEO
	
      85%

	
      Senior
      Officers $370,000 and Over
	
      60%

	
      Senior
      Officers Below $370,000
	
      50%

	
      Officers
      $240,000 and Over
	
      45%

	
      Officers
      Between $200,000 and $239,000
	
      40%

	
      Officers
      Below $200,000
	
      35%

	 

       

      Named
      Executive Officers
	2005
      Base Salary
	2005
      Restricted

      Stock
      Awards*
	2004
      EIP

      Bonus

	
      G.
      L. Rainwater, Chairman, Chief Executive Officer and President, Ameren, UE,
      CILCORP; Chairman and CEO, CIPS, CILCORP, CILCO, IP
	
      $800,000
	
      13,279
	
      $507,000

	
      W.
      L. Baxter, Executive Vice Presdient and Chief Financial Officer, Ameren,
      UE, CIPS, Genco, CILCORP, CILCO, IP
	
       
      470,000
	
       
      6,883
	
       
      273,000

	
      T.
      R. Voss, Executive Vice President and Chief Operating Officer, Ameren;
      Senior Vice President, UE, CIPS, CILCORP, CILCO, IP
	
       
      400,000
	
       
      5,858
	
       
      201,500

	
      S.
      R. Sullivan, Senior Vice President, General Counsel and Secretary, Ameren,
      UE, CIPS, Genco, CILCORP, CILCO, IP
	
       
      350,000
	
       
      4,101
	
       
      150,800

	
      D.
      F. Cole, Senior Vice President, UE, CIPS, Genco, CILCORP, CILCO,
      IP
	
       
      300,000
	
       
      3,515
	
       
      148,050

	
      D.
      A. Whiteley, Senior Vice President, UE, CIPS, Genco, CILCORP, CILCO,
      IP
	
       
      292,000
	
       
      3,421
	
       
      145,600

	
      R.
      A. Kelley, President, Genco
	
       
      250,000
	
       
      2,929
	
       
      114,210

* The
closing market price of Ameren common stock on February 11, 2005, the date the
restricted stock was awarded, was $51.21 per share.

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