Document:

Exhibit 4.04

 

Signature Copy

Return to Executive Compensation Department

 

XCEL ENERGY INC.

2005 OMNIBUS INCENTIVE PLAN

NONQUALIFIED STOCK OPTION AGREEMENT

 

	
  Optionee:

  	
  Option Price Per
  Share:

  
	
   

  	
   

  
	
  Grant Date:

  	
  Exercise Date:

  
	
   

  	
   

  
	
  Number of Option
  Shares:

  	
  Expiration Date:

  

 

The Xcel Energy Inc. (“Xcel”)
Governance, Compensation and Nominating Committee of the Board of Directors (“Committee”)
has, on the Grant Date set forth above, authorized the grant to you of a stock
option pursuant to the Xcel Energy Inc. 2005 Omnibus Incentive Plan (“Plan”) on
the following terms and conditions:

 

1.                                       Stock
Option.

 

(a)                                  Option
Grants.  Xcel hereby irrevocably
grants you the option (“Option”) to purchase all or any part of the aggregate
number of shares set forth above (“Option Shares”) of the common stock, $2.50
par value, of Xcel (“Common Stock”), at the Option Price per share set forth
above.  The Option granted to you
pursuant to this Agreement is intended to conform in all respects with the
Plan.  The Plan as currently in effect is
incorporated in this Agreement by this reference and you hereby acknowledge
receipt of a copy thereof.  This Option
is not intended to qualify as an “Incentive Stock Option” within the meaning of
Section 422 of the Internal Revenue Code of 1986, or any amendment or
substitute therefor.

 

(b)                                 Exercise
Period.  Subject to the provisions of
paragraph 1(c), this Option shall be exercisable only during the period
commencing on the Exercise Date set forth above and ending on the Expiration
Date set forth above (“Exercise Period”). 
Provided, however, that in the event of a change in control, all
outstanding options will become fully vested and exercisable.  Subject to the foregoing, during the Exercise
Period, this Option shall be exercisable in whole at any time or as to any
number of whole Option Shares from time to time.

 

(c)                                  Termination
of Employment or Death.  If your
employment with Xcel and its subsidiaries terminates for any reason, other than
retirement, prior to the Exercise Date, the Option shall expire on the date of
your termination and shall not become exercisable.  If your employment with Xcel and its
subsidiaries terminates during the Exercise Period:

 

(i)            at a time
when you are eligible for retirement under any defined benefit pension plan of Xcel
and its subsidiaries in which you are a participant, you will have the full
term of the original grant to exercise any outstanding options;

 

 

(ii)           due to
death or permanent and total disability, or involuntarily and the Committee has
not determined that paragraph (iv) shall apply, the Option shall expire
and become nonexercisable thirty-six (36) months after the date of your
termination;

 

(iii)          voluntarily,
and paragraphs (i) and (ii) do not apply, the Option shall expire and
become nonexercisable three (3) months after the date of your termination;

 

(iv)          involuntarily
(for reasons other than retirement, death or disability) and the Committee has
determined that this paragraph shall apply, the Option shall expire and become
nonexercisable on the date of your termination; provided that in no event shall
the Option remain exercisable after the Expiration Date.

 

(d)                                 Method
of Exercise.  The Option may be
exercised, after it has vested, only by written notice delivered to the
Committee, which notice shall specify the number of whole Option Shares to be
purchased and the purchase price to be paid therefor.  Such exercise must be approved by the Xcel
Securities Trading Policy Committee and the date of approval shall be the date
of exercise.  To be effective, such
notice must contain arrangements for full payment of the purchase price for
such shares of Common Stock pursuant to the terms of the Plan. The “Market
Value” of shares of Common Stock shall be the average of the high and low sale
prices of Common Stock reported for the date of exercise on the Composite
Transactions Tape for securities listed on the New York Stock Exchange (or, if
such prices are not reported on that date, the last preceding date for which
such prices were reported).  To the
extent that the Option is exercised, in whole or in part, the number of
unexercised shares represented by the Option shall be reduced by the number of
shares exercised under the Option.  Such
reduction shall apply to the shares vested. The Committee may permit payment to
be made by the surrender or delivery of shares of Common Stock owned by the
Optionee (provided such shares are not subject to any security interest or
pledged). In addition, to the extent permitted under applicable laws and
regulations, the Committee may allow an Optionee to exercise the Option using a
broker-assisted cashless exercise method.

 

(e)                                  Adjustment
of the Option.  In the event of any
change in the capital structure of Xcel or its subsidiaries, through
consolidation, reorganization, recapitalization, stock dividend, split-up, spin
off, or other similar change, appropriate proportionate adjustments shall be
made in the number and purchase price of the shares of Common Stock which may
be purchased by the exercise of the Option.

 

2.                                       Miscellaneous.

 

(a)                                  Notice.  Any notice to be given Xcel under the terms
of this Agreement shall be delivered or mailed by first class mail, postage
prepaid to:

 

Secretary

Xcel
Energy Inc.

800
Nicollet Mall

Minneapolis,
Minnesota 55402

 

2

 

or to
such other address as Xcel may direct by notice.  Any notice to be given to you shall be
delivered or mailed by first class mail, postage prepaid to you at the address
shown below on this Agreement, or at such other address as you may direct by
notice.

 

(b)                                 Withholding.  Xcel may require you to remit to it, or may
withhold from your Option Shares or from your other compensation, an amount
sufficient to satisfy any applicable federal, state, or local tax withholding
requirements.  Participant may elect to
satisfy the withholding requirement, in whole or in part, by tendering shares
of previously acquired Common Stock (either by delivery of share certificates
or by attestation) or by having Xcel withhold Shares from the Award.

 

(c)                                  Plan
and Committee Interpretation as Controlling.  The Option hereby granted and the terms and
conditions herein set forth are subject in all respects to the terms and
conditions of the Plan, which are controlling. 
All determinations and interpretations of the Committee shall be binding
and conclusive upon you or your legal representatives with regard to any
question arising hereunder or under the Plan.

 

(d)                                 Non-Transferability.  An Option shall not be assignable or
transferable by you other than by will or by the laws of descent and
distribution, and an Option shall be exercisable during your lifetime only by
you; provided, however, that the Committee may in its discretion permit
transfers to other persons or entities. 
If the Option remains exercisable after your death, it may be exercised
by the personal representative of your estate or by any person who acquires the
right to exercise such Option by bequest, inheritance, or otherwise by reason
of your death.

 

(e)                                  Registration.  This Agreement is subject to the requirement
that if, at any time, Xcel shall determine that the listing, registration, or
qualification of the shares subject to the Option upon a securities exchange or
under any state of federal law, or the consent or approval of any regulatory body,
or an agreement by you with respect to the disposition of any shares acquired
pursuant to this Agreement, is necessary or desirable as a condition of, or in
connection with, the granting of the Option or the issuance or purchase of
shares hereunder, the Option may not be exercised in whole or in part unless
such listing, registration, qualification, consent, approval, or agreement
shall have been effected or obtained free of any conditions not acceptable to
Xcel.

 

(f)                                    Resale
Restrictions.  You hereby agree not
to resell any shares of Common Stock acquired by exercise of the Option in
violation of the Securities Act of 1933 or any applicable state statute.   All stock certificates issued hereunder
shall bear any appropriate restrictive legend required with respect to the
foregoing agreement.

 

(g)                                 No
Shareholding Rights.  You will have
no rights as a shareholder with respect to any Option Shares unless and until
certificates for such shares have been issued to you.

 

3

 

(h)                                 Governing
Law.  This Agreement shall be
governed and construed and enforced in accordance with the laws of the State of
Minnesota except to the extent superseded by applicable federal law.

 

(i)                                     Guarantee
of Employment.  Nothing in this
Agreement shall limit the right of Xcel or any of its subsidiaries to terminate
your service as an officer or employee, or otherwise impose upon Xcel or any of
its subsidiaries any obligation to employ or accept your services.

 

(j)                                     Successors.  This Agreement shall be binding upon and
inure to the benefit of any successor or successors to all or substantially all
of the business or assets of Xcel.

 

Please signify your
acceptance of the terms and conditions of this Agreement by signing this and
the attached copy and returning one signed copy to: Compensation Department,
414 Nicollet Mall, 2nd Floor, Minneapolis, MN 55401.

 

	
   

  	
  XCEL ENERGY INC.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ACCEPTED:

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Date

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Street Address

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  City, State and
  Zip Code

  

 

4Exhibit 4.08

 

Participant
Copy

Retain for your records

 

XCEL ENERGY INC.

2005 OMNIBUS INCENTIVE PLAN

RESTRICTED STOCK AGREEMENT

 

This
Agreement, dated and effective <<Month Day>>, <<Year>>,
by and between Xcel Energy Inc., a Minnesota corporation (“Xcel Energy”) and
<<Name>> (the “Participant”) evidences an award of restricted stock
and the applicable terms and conditions of the award.

 

1.             Shares Awarded.  Xcel Energy awards the Participant
<<share number>> shares of Common Stock of Xcel Energy (the “Shares”)
pursuant to the Xcel Energy Inc. 2005 Omnibus Incentive Plan (the “Plan”), upon
the terms and conditions of the Plan and this Agreement.  The Plan as currently in effect is
incorporated by reference and the Participant acknowledges the receipt of a
copy thereof.

 

2.             Restrictions on Transfer and Restricted Periods.

 

(a)           During the respective periods hereinafter described (the “Restricted
Periods”), the Shares may not be sold, assigned, transferred, pledged, or
otherwise encumbered by the Participant, except as hereinafter provided.

 

(b)           The restrictions described above shall commence on the date of this
Agreement (the “Commencement Date”) and, except as provided in paragraph 2(c)
or paragraph 3, shall terminate with respect to the Shares on <<vesting
schedule>>

 

(c)           Shares will vest and be available upon the expiration of the applicable
Restricted Period or, if earlier, upon a Change in Control as defined in the
Plan.  The Committee of the Board of
Directors, designated as the Plan administrator (the “Committee”), shall have
the authority, in its discretion, to accelerate the lapse of restrictions
whenever the Committee determines that such action is appropriate by reason of
changes in applicable tax or other laws, or other changes in circumstances
occurring after the commencement of the Restricted Periods.

 

3.             Termination of Service.  If the
Participant ceases to maintain an active employment relationship with Xcel
Energy and its affiliates as defined in the Plan for any reason other than
permanent and total disability (for purposes of this Plan disability is defined
as qualification for long term disability benefits under a company sponsored
plan), death or retirement (for purposes of this Plan retirement is defined as
a time when you are eligible for retirement under any defined benefit pension
plan of Xcel Energy and its subsidiaries in which you participate at the time
of your termination), all shares which are subject to the restrictions imposed
by paragraph 2 shall be forfeited and returned to Xcel Energy; provided,
however, that if the Participant ceases employment by reason of permanent and
total disability, death or retirement, the restrictions shall lapse.

 

 

4.             Certificates for Shares.  If no
election is filed under Section 83(b) of the Internal Revenue Code of 1986, or
any amendment or substitute therefor (“Code”) for immediate taxation, Xcel
Energy shall hold the Shares in its custody on behalf of the Participant in a
segregated account with a nominee name. 
As restrictions are released, the Shares will be automatically
transferred to the account of the Participant in Xcel Energy’s Dividend
Reinvestment and Stock Purchase Plan.

 

If
the Participant makes an election under Code Section 83(b) on or before
<<within 30 days of award date>>, to accept immediate taxation of
the Shares, which election form shall be delivered to Xcel Energy in care of
the Director, Total Compensation, Xcel Energy shall cause certificates to be
issued from the nominee account in the name of the Participant for the number
of whole shares in the Participant’s account and shall hold such certificates
for the Participant until expiration of the Restricted Period.  Any fractional share shall be retained in the
Participant’s account.  Such certificates
shall bear the following legend prior to the expiration of the Restricted
Period applicable thereto:

 

“The transferability of this
certificate and the shares of stock represented hereby are subject to the terms
and conditions (including forfeiture) contained in the Xcel Energy Inc. 2005
Omnibus Incentive Plan and an Agreement entered into between the registered
owner and Xcel Energy Inc., a Minnesota corporation.  Copies of such Plan and Agreement are on file
in the Human Resources Department, Xcel Energy Inc., 414 Nicollet Mall, Minneapolis,
Minnesota.”

 

Simultaneously
with the execution of this Agreement or at any time requested by Xcel Energy,
the Participant will execute a stock power endorsed in blank and promptly
deliver such stock power to Xcel Energy with respect to restricted Shares and
Shares purchased with dividends thereon. 
Xcel Energy may condition the issuance or delivery of restricted Shares
upon receipt of such stock power.

 

5.             Participant’s Rights.  Except
as otherwise provided herein, Participant shall have all the rights of a
stockholder, including, but not limited to, the right to vote all of the
Shares.  Dividends payable on Shares
shall be reinvested in additional shares of Common Stock which Xcel Energy at
its discretion may purchase through Xcel Energy’s Dividend Reinvestment and
Stock Purchase Plan for the account of the Participant at the same time as
dividends are reinvested under said Dividend Reinvestment Plan for the
participants in that Plan. Any additional shares of Common Stock purchased by
reinvested dividends shall be subject to the same Restricted Periods as the
original Shares awarded and deemed to be Shares for purpose of this Agreement

 

2

 

6.             Expiration of Restricted Period.  Upon the
expiration of the Restricted Period with respect to any Shares or lapse of
restrictions for any other reason as provided in this Agreement, Xcel Energy
shall cause the Shares released from restriction to be transferred to the
account of the Participant in Xcel Energy’s Dividend Reinvestment and Stock
Purchase Plan.  If the Participant dies
before the restrictions lapse, and unless the Participant has directed
otherwise in writing delivered to the Xcel Energy Executive Compensation Department,
the certificates in respect of such restricted Shares shall be reissued and
delivered to the Participant’s legal spouse, otherwise to the estate free of
the restrictions referred to in paragraph 2 above and without the legend
provided for in paragraph 4 above.

 

7.             Changes in Capitalization of Xcel Energy.  If there
is any change in the outstanding shares of Common Stock by reason of a stock
dividend or distribution, stock split-up, recapitalization, combination or
exchange of shares, or by reason of merger, consolidation, or other corporate
reorganization, any additional shares of Common Stock or other securities
received, with respect to Shares subject to the restrictions contained in
paragraph 2 above, shall be subject to such restrictions and the certificate or
other instruments representing or evidencing such shares or securities shall be
legended and deposited with Xcel Energy in the manner provided in paragraph 4
above.

 

8.             General Restrictions.  Each
Award granted pursuant to the Plan shall be subject to the requirement that if,
in the opinion of the Committee:

 

(a)           the listing, registration, or qualification of any shares of Common
Stock related thereto upon any securities exchange or pursuant to any state or
federal law;

 

(b)           the consent or approval of any regulatory body; or

 

(c)           an agreement by the recipient with respect to the disposition of any
such shares of Common Stock;

 

is
necessary or desirable as a condition of the issuance or sale of such shares of
Common Stock, such Award shall not be consummated unless and until such listing,
registration, qualification, consent, approval, or agreement is affected or
obtained in form satisfactory to the Committee.

 

9.             Withholding.  Xcel Energy may require the
Participant to remit to it, or may withhold from the Award or from the
Participant’s other compensation, an amount sufficient to satisfy any
applicable federal, state, local tax, employment, FICA or other mandated
withholding requirements in regard to the Award in the year or years the Award
becomes taxable to the Participant. 
Participant may elect to satisfy the withholding requirement, in whole
or in part, by tendering shares of previously acquired Common Stock (either by
the delivery of share certificates or by attestations) or by having Xcel Energy
withhold Shares from the Award at the rate the Committee determines satisfies
the applicable withholding requirements of the Code.  If no election is made, Shares will be
withheld.

 

3

 

10.           Plan and Plan Interpretations as Controlling.  The Shares
hereby awarded and the terms and conditions herein set forth are subject in all
respects to the terms and conditions of the Plan, which are controlling.  All determinations and interpretations of the
Committee shall be binding and conclusive upon the Participant or his legal
representatives with regard to any question arising hereunder or under the
Plan.

 

11.           Participant Service.  Nothing
in this Agreement shall limit the right of Xcel Energy or any of its
subsidiaries to terminate the Participant’s service as an officer or employee,
or otherwise impose upon Xcel Energy or any of its subsidiaries any obligation
to employ or accept the services of the Participant.

 

12.           Participant Acceptance.  The
Participant shall signify acceptance of the terms and conditions of this
Agreement by signing in the space provided below and returning a signed copy to
Xcel Energy.

 

IN
WITNESS WHEREOF, the parties hereto have caused this Restricted Stock Agreement
to be executed as of the date first above written.

 

 

	
   

  	
  XCEL ENERGY INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Cynthia L. Lesher

  	
   

  
	
   

  	
   

  	
  Chief Administrative and Chief HR Officer

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  ACCEPTED:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  <<Name>>

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Date

  	
   

  
					

 

4

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