Document:

Form of Restricted Stock Award Agreement (Directors and Below)

 Exhibit 10.75 
 FORM OF 
 RESTRICTED STOCK AWARD AGREEMENT 
 (Ratable Vest – Below Managing Director) 
 THIS RESTRICTED STOCK AWARD AGREEMENT (this “Agreement”) is made as of the [            ] day of April, 2007, between DYNEGY INC., a Delaware
corporation (“Dynegy”), and all of its Affiliates (collectively, the “Company”), and [the named employee] (the “Employee”). A copy of the Dynegy Inc.
[                    ] Incentive Plan (the “Plan”) is annexed to this Agreement and shall be deemed a part hereof as if fully
set forth herein. Unless the context otherwise requires, all terms that are not defined in this Agreement but which are defined in the Plan shall have the same meaning given to them in the Plan when used herein. 
 1. Award. Pursuant to the Plan, as of the date of this Agreement (the “Grant Date”),
[            ] restricted shares (the “Restricted Shares”) of Dynegy’s Class A common stock, $0.01 par value per share (“Common Stock”), shall be
issued as hereinafter provided in the Employee’s name subject to certain restrictions thereon. The Restricted Shares shall be issued upon acceptance hereof by the Employee and upon satisfaction of the conditions of this Agreement. The Employee
acknowledges receipt of a copy of the Plan, and agrees that this award of Restricted Shares shall be subject to all of the terms and provisions of the Plan, including future amendments thereto, if any, pursuant to the terms thereof, and to all of
the terms and conditions of this Agreement. If it is subsequently determined by the Committee, in its sole discretion, that the terms and conditions of this Agreement and/or the Plan are not compliant with Code Section 409A, or any Treasury
regulations or Internal Revenue Service guidance promulgated thereunder, this Agreement and/or the Plan may be amended accordingly. 
 2.
Restricted Shares. The Employee hereby accepts the Restricted Shares when issued and agrees with respect thereto as follows: 
 (a) Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or otherwise disposed of (any such sale, assignment,
pledge, exchange, hypothecation or other transfer, encumbrance or disposition being referred to herein as a “Transfer”) to the extent then subject to the Forfeiture Restrictions (as hereinafter defined), and in the event of termination of
the Employee’s employment with the Company for any reason whatsoever, the Employee shall, for no consideration, forfeit to the Company all Restricted Shares then subject to the Forfeiture Restrictions, except to the extent that such Forfeiture
Restrictions lapse upon such termination in accordance with Section 2(b) hereof. The prohibition against Transfer and the obligation to forfeit and surrender Restricted Shares to the Company upon termination of employment are herein referred to
as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares. For purposes of this Agreement, the following terms shall have the meanings indicated below:

 (i) “Committee” shall mean the committee that administers the Plan. 
  

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 (ii) “For Cause” shall mean, and hence arise where, as determined by the
Committee in its sole discretion, the Employee (A) has been convicted of a misdemeanor involving moral turpitude or a felony; (B) has failed to substantially perform the duties of such Employee to the Company (other than such failure
resulting from the Employee’s incapacity due to physical or mental condition) which results in a materially adverse effect upon the Company, financial or otherwise; (C) has refused without proper legal reason to perform the Employee’s
duties and responsibilities to the Company; or (D) has breached any material corporate policy maintained and established by the Company that is applicable to the Employee, provided such breach results in a materially adverse effect upon the
Company, financial or otherwise. 
 (iii) “Change in Control” shall mean the occurrence of any of the following
events: (A) a merger of Dynegy with another entity, a consolidation involving Dynegy, or the sale of all or substantially all of the assets or equity interests of Dynegy to another entity if, in any such case, (I) the holders of equity
securities of Dynegy immediately prior to such event do not beneficially own immediately after such event equity securities of the resulting entity entitled to fifty-one percent (51%) or more of the votes then eligible to be cast in the
election of directors (or comparable governing body) of the resulting entity in substantially the same proportions that they owned the equity securities of Dynegy immediately prior to such event or (II) the persons who were members of the Board
immediately prior to such event do not constitute at least a majority of the board of directors of the resulting entity immediately after such event; (B) the dissolution or liquidation of Dynegy, but excluding a reorganization pursuant to
chapter 11 of Title 11, U.S. Code, as amended; (C) a circumstance where any person or entity, including a “group” as contemplated by Section 13(d)(3) of the Exchange Act, acquires or gains ownership or control (including, without
limitation, power to vote) of fifty percent (50%) or more of the combined voting power of the outstanding securities of, (I) if Dynegy has not engaged in a merger or consolidation, Dynegy, or (II) if Dynegy has engaged in a merger or
consolidation, the resulting entity; (D) circumstances where, as a result of or in connection with, a contested election of directors, the persons who were members of the Board immediately before such election shall cease to constitute a
majority of the Board; or (E) the Board (or the Committee) adopts a resolution declaring that a Change in Control has occurred. For purposes of the “Change in Control” definition, (1) “resulting entity” in the context
of an event that is a merger, consolidation or sale of all or substantially all of the subject assets or equity interests shall mean the surviving entity (or acquiring entity in the case of an asset or equity interest sale), unless the surviving
entity (or acquiring entity in the case of an asset sale) is a subsidiary of another entity and the holders of common stock of Dynegy 

  

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receive capital stock of such other entity in such transaction or event, in which event the resulting entity shall be such other entity, and
(2) subsequent to the consummation of a merger or consolidation that does not constitute a Change in Control, the term “Dynegy” shall refer to the resulting entity and the term “Board” shall refer to the board of directors
(or comparable governing body) of the resulting entity. 
 (iv) “Involuntary Termination” shall mean any termination
of Employee’s employment with the Company that: 
 (A) does not result from (1) a termination For Cause of
Employee, (2) Employee’s death or disability (as defined in Section 2(b)(iii)(A) below) or (3) a voluntary resignation by Employee from the Company (other than a resignation pursuant to clause (B) of this
Section 2(a)(iv)), or 
 (B) results from a resignation by Employee on or before the date which is sixty (60) days
after the date that Employee first receives written notice from or on behalf of the Company of (1) if Employee is employed as a Managing Director or above of the Company, (x) a substantial reduction in Employee’s duties from those
applicable to Employee immediately prior to the date on which the Change in Control occurs determined by taking into consideration, among other factors, the Company’s status prior to the Change in Control as an independent corporation whose
equity securities are publicly traded if Employee’s duties encompass or are affected by such matters, as determined by the Committee in its sole discretion, (y) a reduction in Employee’s annual base salary from the annual base salary
provided to Employee immediately prior to the date on which the Change in Control occurs, or (z) a change in location of Employee’s principal place of employment by fifty (50) miles or more from the location where Employee was
principally employed immediately prior to the date on which the Change in Control occurs; or (2) if Employee is not employed as a Managing Director or above of the Company, (x) a change in the location of Employee’s principal place of
employment by fifty (50) miles or more from the location where Employee was principally employed immediately prior to the date on which the Change in Control occurs or (y) Employee’s offer of, assignment to, or placement in a position
within the Company that provides a base salary lower than Employee’s base salary on Employee’s termination date. 
 (b) Lapse of Forfeiture Restrictions. The Forfeiture Restrictions shall lapse as to the Restricted Shares in three equal annual installments on anniversaries of the Grant Date as follows, provided that the Employee has been
continuously employed by the Company from the date of this Agreement through such lapse date: 
 (i) on the first anniversary
of the Grant Date, the Forfeiture Restrictions shall lapse as to one-third of the aggregate number of the Restricted Shares without further action by the Committee; 
  

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 (ii) on the second anniversary of the Grant Date, the Forfeiture Restrictions shall lapse
as to an additional one-third of the aggregate number of Restricted Shares without further action by the Committee; and 
 (iii) on the third anniversary of the Grant Date, the Forfeiture Restrictions shall lapse as to the remaining one-third of the aggregate number of Restricted Shares without further action by the Committee. 
 Notwithstanding the foregoing: 
 (A) if the Employee’s employment with the Company terminates by reason of disability (as defined in the Company’s long term disability program or plan in which the Employee is a participant or, if the Employee does not participate
in any such plan, as defined in the Dynegy Inc. Long Term Disability Plan, as amended, or the successor plan thereto) or death of the Employee, then the Forfeiture Restrictions shall lapse with respect to all Restricted Shares to the extent then
subject to the Forfeiture Restrictions as of the date of such termination; and 
 (B) if the Employee’s employment with
the Company terminates by reason of resignation by the Employee (except as otherwise provided in Section 2(b)(E) below) or dismissal by the Company For Cause, then the Employee shall immediately, for no consideration, forfeit to the Company all
Restricted Shares to the extent then subject to the Forfeiture Restrictions; and 
 (C) if the Employee’s employment
with the Company terminates by reason of retirement by the Employee following (I) the date on which such Employee has reached fifty-five (55) years of age and (II) at least five (5) years of service as an employee of the Company, then
the Forfeiture Restrictions shall lapse as to the Restricted Shares awarded to the Employee hereunder on each anniversary of the Grant Date as if the Employee had continuously been employed by the Company following such termination; and 

(D) if the Employee’s employment with the Company terminates by reason of dismissal by the Company other than For Cause, then the
Forfeiture Restrictions shall lapse, as of the date of such termination, with respect to a number of Restricted Shares (rounded down 

  

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to the nearest whole number) equal to (I) the number of Restricted Shares then subject to the Forfeiture Restrictions multiplied by (II) a fraction, the
numerator of which shall be the number of calendar days which have lapsed since the later of the Grant Date or most recent anniversary thereof and the denominator of which shall be the number of calendar days from the later of the Grant Date or the
most recent anniversary thereof until the third anniversary of the Grant Date; and 
 (E) if the Employee’s employment
with the Company terminates as a result of an Involuntary Termination occurring in connection with, but in no event earlier than sixty (60) days prior to, a Change in Control, then the Forfeiture Restrictions shall lapse with respect to 100% of
the Restricted Shares awarded to the Employee hereunder as of the date of such Change in Control; and 
 (F) if the Employee
is employed by the Company (or a successor thereto) on the date of a Change in Control, then the Forfeiture Restrictions shall lapse with respect to 100% of the Restricted Shares awarded to the Employee hereunder as of the date of such Change in
Control. 
 Any shares with respect to which the Forfeiture Restrictions do not lapse in accordance with the preceding provisions of this
Section 2(b) shall be forfeited to the Company for no consideration as of the date of the termination of the Employee’s employment with the Company. 
 (c) Shareholder Rights & Certificates. The Employee shall have all of the rights of a shareholder of the Company
with respect to the Restricted Shares, including, without limitation, voting rights and the right to receive dividends (provided, however, that dividends paid in shares of the Company’s stock shall be subject to the Forfeiture Restrictions),
but the Employee may not Transfer the Restricted Shares until the Forfeiture Restrictions have expired, and a breach of the terms of this Agreement or the Plan shall cause a forfeiture of the Restricted Shares. Any certificate issued by the Company
evidencing the Restricted Shares shall bear appropriate legends in accordance with Section 4 below and shall be delivered upon issuance to the Secretary of the Company or to such other depository as may be designated by the Committee as a
depository for safekeeping until the forfeiture of such Restricted Shares occurs or the Forfeiture Restrictions lapse pursuant to the terms of the Plan and this award. In the event a certificate evidencing the Employee’s Restricted Shares is
issued by the Company prior to the lapse of the Forfeiture Restrictions, the Employee shall promptly deliver to the Company a stock power, endorsed in blank, relating to the Restricted Shares. Upon the lapse of the Forfeiture Restrictions without
forfeiture, the Company shall, promptly following receipt of a written request from the Employee, cause a certificate or certificates evidencing the shares of Common Stock awarded to the Employee hereunder (and with respect to which the Forfeiture
Restrictions have lapsed) to be issued without legend (except for any legend required pursuant to applicable securities laws or any other agreement to which the Employee is a party) in the name of the Employee in exchange for the certificate, if
any, evidencing the Restricted Shares. 
  

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 (d) Corporate Acts. The existence of the Restricted Shares shall not affect
in any way the right or power of the Board of Directors of the Company or the shareholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business,
any merger or consolidation of the Company, any issue of debt or equity securities, the dissolution or liquidation of the Company or any sale, lease, exchange or other disposition of all or any part of its assets or business or any other corporate
act or proceeding. The prohibitions of Section 2(a) hereof shall not apply to the Transfer of Restricted Shares pursuant to a plan of reorganization of the Company, but the stock, securities or other property received in exchange therefore
shall also become subject to the Forfeiture Restrictions and provisions governing the lapsing of such Forfeiture Restrictions applicable to the original Restricted Shares for all purposes of this Agreement and the certificates, if any, representing
such stock, securities or other property shall be legended to show such restrictions. 
 3. Withholding of Tax. To the extent
that the receipt of the Restricted Shares or the lapse of any Forfeiture Restrictions results in compensation income to the Employee for federal or state income tax purposes, the Employee shall deliver to the Company at the time of such receipt or
lapse, as the case may be, such amount of money as the Company may require to meet its obligation under applicable tax laws or regulations, and if the Employee fails to do so, the Company is authorized to withhold from any cash or stock remuneration
(including withholding any Restricted Shares distributable to the Employee under this Agreement) then or thereafter payable to the Employee any tax required to be withheld by reason of such resulting compensation income. 
 4. Status of Stock. The Employee agrees that the Restricted Shares issued under this Agreement will not be sold or otherwise disposed of in
any manner which would constitute a violation of any applicable federal or state securities laws. The Employee also agrees that (a) in the event a certificate representing the Restricted Shares is issued, such certificate may bear such legend
or legends as the Committee deems appropriate in order to reflect the Forfeiture Restrictions and to assure compliance with applicable securities laws, (b) the Company may refuse to register the Transfer of the Restricted Shares on the stock
transfer records of the Company if such proposed Transfer would constitute a violation of the Forfeiture Restrictions or, in the opinion of counsel satisfactory to the Company, of any applicable securities law, and (c) the Company may give
related instructions to its transfer agent, if any, to stop registration of the Transfer of the Restricted Shares. 
 5. Employment
Relationship. For purposes of this Agreement, the Employee shall be considered to be in the employment of the Company as long as the Employee remains an employee of either the Company or an Affiliate (as such term is defined in the Plan).
Nothing in the adoption of the Plan or the award of the Restricted Shares thereunder pursuant to this Agreement shall confer upon the Employee the right to continued employment by the Company or affect in any way the right of the Company to
terminate such employment at any time. Unless otherwise provided in a written employment agreement or by applicable law, the Employee’s 

  

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employment by the Company shall be on an at-will basis, and the employment relationship may be terminated at any time by either the Employee or the Company
for any reason whatsoever, with or without cause. Any question as to whether and when there has been a termination of such employment, and the cause of such termination, shall be determined by the Committee, and its determination shall be final.

 6. Notices. Any notices or other communications provided for in this Agreement shall be sufficient if in writing. In the
case of the Employee, such notices or communications shall be effectively delivered when hand delivered to the Employee at his or her principal place of employment or when sent by registered or certified mail to the Employee at the last address the
Employee has filed with the Company. In the case of the Company, such notices or communications shall be effectively delivered when sent by registered or certified mail to the Company at its principal executive offices. 
 7. Entire Agreement; Amendment. This Agreement replaces and merges all previous agreements and discussions relating to the same or similar
subject matters between the Employee and the Company and constitutes the entire agreement between the Employee and the Company with respect to the subject matter of this Agreement. This Agreement may not be modified in any respect by any verbal
statement, representation or agreement made by any employee, officer, or representative of the Company or by any written agreement unless signed by an officer of the Company who is expressly authorized by the Company to execute such document.

 8. Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all
persons lawfully claiming under the Employee. 
 9. Miscellaneous. In the event of any conflict or inconsistency between the
terms of this Agreement and the terms of the Plan, the terms of the Plan shall be controlling. In the event of any conflict or inconsistency between the terms of this Agreement and the terms of the Dynegy Inc. Executive Severance Pay Plan, including
any amendments or supplements thereto, or the Dynegy Inc. Severance Pay Plan, including any amendments or supplements thereto, the terms of this Agreement shall be controlling. 
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 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an officer
thereunto duly authorized, and the Employee has agreed to and accepted the terms of this Agreement*, all as of the date first above written. 
  

					
	 DYNEGY INC.
	 	
			
	 By:
	 	  
	 	
	 Name:
	 	J. Kevin Blodgett	 	
	 Title:
	 	General Counsel & EVP, Administration	 	

	*	Employee has agreed to and accepted the terms of this Agreement utilizing online grant acceptance capabilities with E*Trade Financial, the Company’s restricted stock
administrator.Form of Performance Award Agreement

 Exhibit 10.76 
 FORM OF 
 PERFORMANCE AWARD AGREEMENT 
 THIS PERFORMANCE AWARD AGREEMENT (this “Agreement”) is made as of the
[            ] day of April, 2007, between DYNEGY INC., a Delaware corporation (“Dynegy”), and all of its Affiliates (collectively, the “Company”), and
[                                       
 ] (“Employee”). A copy of the Dynegy Inc. [2002 or 2000] Incentive Plan (the “Plan”) is annexed to this Agreement and shall be deemed a part of this Agreement as if fully set forth herein. Unless the context
otherwise requires, all terms that are not defined herein but which are defined in the Plan shall have the same meaning given to them in the Plan when used herein. 
 1. The Grant. The Compensation and Human Resources Committee of the Board of Directors (the “Committee”) granted to Employee on April
[            ] 2007 (“Effective Date”), a Performance Award of [            ] performance
units, each of which has a designated value of $100 and represents the right to receive an amount payable in the form of cash or shares of Dynegy’s Class A Common Stock (a “Share” or “Shares”), as determined in the
discretion of the Committee. Employee acknowledges receipt of a copy of the Plan, and agrees that this Performance Award shall be subject to all of the terms and provisions of the Plan, including future amendments thereto, if any, pursuant to the
terms thereof, and to all of the terms and conditions of this Agreement. If it is subsequently determined by the Committee, in its sole discretion, that the terms and conditions of this Agreement and/or the Plan are not compliant with Code
Section 409A, or any Treasury regulations or Internal Revenue Service guidance promulgated thereunder, this Agreement and/or the Plan may be amended accordingly. 
 2. Performance Period and Performance Goals. Subject to the provisions of Section 5 of this Agreement, the performance period for purposes of determining whether the Performance Award will be paid
shall be April 24, 2007 through April 23, 2010 (the “Performance Period”). The performance goals for purposes of determining whether, and the extent to which, the Performance Award will be paid are set forth in Exhibit
1 to this Agreement, which Exhibit is made a part of this Agreement. Notwithstanding the foregoing, the Committee shall have discretion to adjust the performance goals to reflect actions undertaken in the best interest of the Company and its
shareholders, including, but not limited to, strategic transactions affecting the performance goals as well as recapitalizations, reorganizations, mergers, consolidations, split-ups, split-offs, spin-offs, exchanges or other relevant changes in
capitalization or structure of the Company. 
 3. Payment. Subject to the provisions of Sections 4 and 5 of this Agreement,
after the Performance Period, the Performance Award shall be paid as soon as practicable after the Committee determines whether and to what extent the performance goals have been achieved for the Performance Period in accordance with the terms set
forth in Exhibit 1 to this Agreement; provided, however, that any such payment shall be made no later than December 31, 2010. 
 4. Termination. The Performance Award and the Employee’s right to receive any cash or Shares hereunder will automatically and without notice terminate and become null and void upon Employee’s termination of
employment with the Company prior to the Performance Award payment date, except that if Employee’s termination of employment is by reason of: 
 (a) death, 
  

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 (b) disability (as defined in the Company’s long term disability program or the plan
in which Employee is a participant or, if Employee does not participate in any such plan, as defined in the Dynegy Inc. Long Term Disability Plan, as amended, or the successor plan thereto), 
 (c) retirement by Employee following (i) the date on which such Employee has reached fifty-five (55) years of age and
(ii) at least five (5) years of service as an employee of the Company, or 
 (d) dismissal by the Company other than
For Cause, 
 Employee shall be treated as if he or she had been continuously employed by the Company through the Performance Award payment date. In such
case, Employee or Employee’s legal representative, or the person, if any, who acquired the Performance Award by bequest or inheritance or by reason of the death of Employee, shall be entitled to receive any payment with respect to the
Performance Award in accordance with this Agreement; provided, however, that if Employee’s termination of employment is for the reason described in (d), any such payment shall be prorated by multiplying the payment by a fraction, the numerator
of which shall be the number of calendar days that elapsed between the date of Employee’s termination and the Effective Date and the denominator of which shall be 1,080 but in no case shall such fraction be greater than one (1) .

 For purposes of this Agreement, the term “For Cause” shall mean, and hence arise where, as determined by the Committee in its
sole discretion, Employee (i) has been convicted of a misdemeanor involving moral turpitude or a felony; (ii) has failed to substantially perform the duties of such Employee to the Company (other than such failure resulting from
Employee’s incapacity due to physical or mental condition) which results in a materially adverse effect upon the Company, financial or otherwise; (iii) has refused without proper legal reason to perform Employee’s duties and
responsibilities to the Company; or (iv) has breached any material corporate policy maintained and established by the Company that is applicable to Employee, provided such breach results in a materially adverse effect upon the Company,
financial or otherwise. 
 5. Change In Control. In the event a “Change in Control” (as defined below) occurs during
the Performance Period, provided the ending Share price, as determined in accordance with this Section 5, would entitle Employee to receive a Performance Award based upon the performance goals set forth in Exhibit 1 to this
Agreement, Employee shall receive a payment with respect to the Performance Award, which shall be determined by using either, as applicable (a) the agreed price per Share received by the shareholders of Dynegy as a result of the Change in
Control transaction, or if there is no agreed price per Share, then (b) the average closing Share price for the twenty (20) consecutive trading days immediately preceding the effective date of the Change in Control, as the ending Share
price for the Performance Period. Such payment, if any, shall be made regardless of whether Employee’s employment with the Company is terminated (other than For Cause) on or after the effective date of such Change in 

  

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Control, and shall be made in the form of cash to Employee as soon as administratively feasible but no later than the later of December 31 of the
calendar year in which the Change in Control occurs or the 15th day of the third month following the effective date
of the Change in Control. The Performance Period shall end as of the effective date of a Change in Control, and any Performance Award payments hereunder shall only be made in accordance with this Section 5. 
 For purposes of this Agreement, “Change in Control” shall mean the occurrence of any of the following events: (1) a merger of Dynegy with
another entity, a consolidation involving Dynegy, or the sale of all or substantially all of the assets or equity interests of Dynegy to another entity if, in any such case, (A) the holders of equity securities of Dynegy immediately prior to
such event do not beneficially own immediately after such event equity securities of the resulting entity entitled to fifty-one percent (51%) or more of the votes then eligible to be cast in the election of directors (or comparable governing
body) of the resulting entity in substantially the same proportions that they owned the equity securities of Dynegy immediately prior to such event or (B) the persons who were members of the Board immediately prior to such event do not
constitute at least a majority of the board of directors of the resulting entity immediately after such event; (2) the dissolution or liquidation of Dynegy, but excluding a reorganization pursuant to chapter 11 of Title 11, U.S. Code, as
amended; (3) a circumstance where any person or entity, including a “group” as contemplated by Section 13(d)(3) of the Exchange Act, acquires or gains ownership or control (including, without limitation, power to vote) of fifty
percent (50%) or more of the combined voting power of the outstanding securities of, (A) if Dynegy has not engaged in a merger or consolidation, Dynegy, or (B) if Dynegy has engaged in a merger or consolidation, the resulting entity;
(4) circumstances where, as a result of or in connection with, a contested election of directors, the persons who were members of the Board immediately before such election shall cease to constitute a majority of the Board; or (5) the
Board (or the Committee) adopts a resolution declaring that a Change in Control has occurred. For purposes of the “Change in Control” definition, (A) “resulting entity” in the context of an event that is a merger,
consolidation or sale of all or substantially all of the subject assets or equity interests shall mean the surviving entity (or acquiring entity in the case of an asset or equity interest sale), unless the surviving entity (or acquiring entity in
the case of an asset sale) is a subsidiary of another entity and the holders of common stock of Dynegy receive capital stock of such other entity in such transaction or event, in which event the resulting entity shall be such other entity, and
(B) subsequent to the consummation of a merger or consolidation that does not constitute a Change in Control, the term “Dynegy” shall refer to the resulting entity and the term “Board” shall refer to the board of directors
(or comparable governing body) of the resulting entity. 
 6. Status of Stock. Employee agrees that any Shares distributed
pursuant to this Agreement will not be sold or otherwise disposed of in any manner which would constitute a violation of any applicable federal or state securities laws. Employee also agrees that (a) the certificates representing the Shares may
bear such legend or legends as the Committee in its sole discretion deems appropriate in order to assure compliance with applicable securities laws and (b) the Company may refuse to register the transfer of the Shares on the stock transfer
records of the Company, and may give related instructions to its transfer agent, if any, to stop registration of such transfer, if such proposed transfer would in the opinion of counsel satisfactory to the Company constitute a violation of any
applicable securities law. 
  

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 7. Employment Relationship. For purposes of this Agreement, Employee shall be considered to
be in the employment of the Company as long as Employee remains an employee of the Company or an Affiliate (as such term is defined in the Plan). Nothing in the adoption of the Plan or the grant of the Performance Award thereunder pursuant to this
Agreement shall confer upon Employee the right to continued employment by the Company or affect in any way the right of the Company to terminate such employment at any time. Unless otherwise provided in a written employment agreement or by
applicable law, Employee’s employment by the Company shall be on an at-will basis, and the employment relationship may be terminated at any time by either Employee or the Company for any reason whatsoever, with or without cause. Any question as
to whether and when there has been a termination of such employment, and the cause of such termination, shall be determined by the Committee in its sole discretion, and its determination shall be final and binding on all parties. 
 8. Withholding of Tax. To the extent that payment of the Performance Award results in compensation income to Employee for federal or state
income tax purposes, the Company is authorized to withhold from any cash or Shares distributable to the Employee under this Agreement) then or thereafter payable to Employee any tax required to be withheld by reason of such resulting compensation
income. 
 9. Miscellaneous. 
 (a) This grant is subject to all the terms, conditions, limitations and restrictions contained in the Plan. In the event of any conflict
or inconsistency between the terms hereof and the terms of the Plan, the terms of the Plan shall be controlling. In the event of any conflict or inconsistency between the terms hereof and the terms of the Dynegy Inc. Executive Severance Pay Plan,
including any amendments or supplements thereto, or the Dynegy Inc. Severance Pay Plan, including any amendments or supplements thereto, the terms hereof shall be controlling. 
 (b) Any notices or other communications provided for in this Agreement shall be sufficient if in writing. In the case of Employee, such
notices or communications shall be effectively delivered when hand delivered to Employee at his or her principal place of employment or when sent by registered or certified mail to Employee at the last address Employee has filed with the Company. In
the case of the Company, such notices or communications shall be effectively delivered when sent by registered or certified mail to the Company at its principal executive offices. 
 (c) Employee shall be presumed to have agreed to and accepted the terms of this Agreement unless he or she submits a written objection to
the Committee or the undersigned officer within 30 days after the Effective Date. 
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 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an officer
thereunto duly authorized as of the date first above written. 
  

			
	DYNEGY INC.
		
	 By:
	 	  

	 Name:
	 	J. Kevin Blodgett
	 Title:
	 	General Counsel & EVP, Administration

  

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 Exhibit 1 
 Performance Goals for Performance Period 
 (April 24, 2007—April 23, 2010) 

 

																			
	 	 	 	  	Threshold	 	 	Target	 	 	Stretch	 	 	Maximum	 
	 Performance Goals
	 	Dynegy Inc. Achieved Share Price*	  	<$	11.75	 	 	$	12.75	 	 	$	13.75	 	 	$	15.25	 
						
	 Payment Levels**
	 	% of each $100 Performance Unit	  	 	0	%	 	 	100	%	 	 	200	%	 	 	300	%

	*	Achieved Share Price shall be the ending Share price equal to the average closing Share price for March 2010 or, if applicable, the ending Share price determined in accordance with
Section 5 of the Agreement in the event of a Change in Control. 

	**	Payment levels will be based upon the actual Achieved Share Price and will be interpolated between Achieved Share Price goals.

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