Document:

Exhibit 10.21

 

FIRST
AMENDMENT

 

TO
THE

 

XCEL
ENERGY INC.

 

EXECUTIVE ANNUAL INCENTIVE AWARD
PLAN

(Effective MAY 25, 2005)

 

WHEREAS,
pursuant to a resolution adopted by the Board of Directors of
Xcel Energy Inc. on December 10, 2008, upon recommendation of the
Governance, Compensation and Nominating (the “GCN”) Committee, that the Xcel
Energy Inc. Executive Annual Incentive Award Plan be amended to bring such plan
in compliance with requirements under Section 409A of the Internal Revenue
Code of 1986, as amended (the “Code”); and

 

WHEREAS,
such resolution provided that the Board authorizes certain
officers of the Company to re-submit the Plan to the GCN Committee as necessary
to keep such Plan in compliance with 409A following the release of regulations
under Section 409A; and

 

WHEREAS,
it has become necessary to amend the Plan with this First
Amendment.

 

NOW,
THEREFORE, BE IT RESOLVED, that the Plan is hereby amended by
this First Amendment, to be effective January 1, 2009, as follows:

 

1.                                       ARTICLE
VI, DETERMINATION OF INCENTIVE AWARDS,
is hereby amended by substituting for the last sentence therein, the following
new last sentence:

 

“Incentive Awards earned
or otherwise awarded will be paid between January 1st and March 15th of
the year following the Payment Date”.

 

 

2.                                       ARTICLE VIII, TERMINATION OF EMPLOYMENT, is hereby amended in its entirety
to read as follows:

 

“In the event that a
Participant’s employment with the Company and its Affiliates terminates for any
reason during the Incentive Period with respect to any Incentive Awards, a
prorated Incentive Award shall be payable to the Participant in cash
(notwithstanding any election to the contrary pursuant to Article VII to
receive Shares or Restricted Shares) only to the extent that the Performance
Goals specified by the Committee in advance have been obtained, or such
termination is due to a Participant’s death or disability. A Participant who
remains employed through the Incentive Period, but is terminated (or
voluntarily terminates) prior to the applicable Payment Date, shall be entitled
to receive any Incentive Award payable to such Participant with respect to such
Incentive Period in cash and without regard to any election to the contrary
pursuant to Article VII to receive Shares or Restricted Shares”.

 

3.                                       ARTICLE IX, AMENDMENT AND DISCONTINUANCE, is amended by adding the
following new last sentence:

 

“Notwithstanding anything
to the contrary above, the Board shall have the right to amend, alter or
otherwise modify the Plan or an Award without the consent of the Participant to
the extent necessary to allow the Plan or an Award to comply with Section 409A
of the Code, or to maintain the Plan’s or an Award’s exemption from Section 409A
of the Code.

 

4.                                       ARTICLE X, MISCELLANEOUS, is amended by adding the following new last
sentence:

 

“The Board intends this
Plan, and all Awards issued hereunder, to be exempt from Section 409A of
the Code, and the regulations issued thereunder”.

 

2

 

5.                                       ARTICLE XII, CHANGE IN CONTROL, is amended by adding the following new last
sentence:

 

“Payments made upon a
Change in Control will be made no later than March 15th of the year following the year of a Change in
Control”.

 

3Exhibit 10.22

 

FIRST
AMENDMENT

 

TO
THE

 

XCEL
ENERGY INC.

 

2005 OMNIBUS INCENTIVE PLAN

 

WHEREAS,
pursuant to a resolution adopted by the Board of Directors of
Xcel Energy Inc. on December 10, 2008, upon recommendation of the
Governance, Compensation and Nominating (the “GCN”) Committee, that the Xcel
Energy Inc. Omnibus Incentive Plan (“Plan”) be amended to bring such plan in
compliance with requirements under Section 409A of the Internal Revenue
Code of 1986, as amended (the “Code”); and

 

WHEREAS,
such resolution provided that the Board authorizes certain
officers of the Company to re-submit the Plan to the GCN Committee as necessary
to keep such Plan in compliance with 409A following the release of regulations
under Section 409A; and

 

WHEREAS,
it has become necessary to amend the Plan with this First
Amendment.

 

NOW,
THEREFORE, BE IT RESOLVED, that the Plan is hereby amended by
this First Amendment, to be effective January 1, 2009, as follows:

 

1.                                       Section 8,
Performance Awards, is hereby
amended by substituting for subsection (d) therein, the following new
subsection (d):

 

“Payment Values of earned
Performance Awards shall be distributed to the Participant, or, if the
Participant has died, to the Participant’s Designated Beneficiary, between January 1st and March 15th after the expiration of the Performance Cycle
and the Committee’s determination under paragraph (c) above. The Committee
shall determine whether Payment Values are to be distributed in the form of
cash, Shares, or a combination 

 

 

thereof as determined by
the Committee. Payment shall be made in a lump sum “.

 

2.                                       Section 9.5, Restricted Stock Units, is hereby amended
by substituting for the second sentence of subsection (b) therein, the
following new second sentence:

 

“Between January 1st and March 15th after the expiration of the Restricted Period,
the Company shall pay the Participant, or, if the Participant has died, the
Participant’s Designated Beneficiary, except to the extent such restricted
Stock Units have been forfeited to the company under the terms and conditions
of the Award, (i) a cash payment equal to the Fair Market Value of the
restricted stock Units as of the last day of the restricted Period or, (ii) Shares
in an amount equal to the number of Restricted Stock Units, determined at the
discretion of the Committee”.

 

3.                                       Section 13, General Provisions, is amended by
substituting for subsection (k) therein, the following new subsection (k):

 

“In the event a Change in
Control occurs, all stock-based Awards, such as Stock Options and Restricted
Stock, shall vest one hundred percent (100%) immediately upon a Change in
Control and all cash-based Awards, such as Performance Awards and Restricted
Stock Units, shall vest and be paid out no later than March 15th of the year following the year in which a
Change in Control occurs, provided, however, if such cash-based Awards were
subject to the attainment of Performance Goals, such awards shall be paid out
as if the Performance Goals had been obtained at target levels through the
effective date of the Change in control or as the Committee may otherwise
determine”.

 

2Exhibit 10.24

 

Approved by the Compensation Committee

of the Board of Directors on November 12, 2008

 

AUSTRALIAN
ADDENDUM

 

AMENDED AND RESTATED

ACTIVISION BLIZZARD, INC.

2008 INCENTIVE PLAN

 

1.                                      PURPOSE

 

This addendum
(the “Australian Addendum”) to the Amended and Restated Activision Blizzard, Inc.
2008 Incentive Plan (the “Activision
Blizzard Incentive Plan”) is adopted to set forth certain rules which,
together with those provisions of the Activision Blizzard Incentive Plan which
are supplemented by this Australian Addendum, will:

 

(a)                                  govern the operation of the Australian Plan (as defined below) with
respect to the grant of Awards (as defined below) to Australian Offerees (as
defined below), and

 

(b)                                 ensure compliance of the Australian Plan with ASIC Class Order
03/184 (the “Class Order”), relevant
provisions of the Corporations Act  2001 and ASIC Regulatory Guide 49.

 

In the event
of any conflict between these provisions and the Activision Blizzard Incentive
Plan, these provisions shall prevail.

 

2.                                      DEFINITIONS

 

Except as set
out below, any capitalized term used herein shall have the meaning ascribed to such
term in the Activision Blizzard Incentive Plan.

 

For the
purposes of this Australian Addendum:

 

“ASIC” means the Australian Securities and Investments Commission;

 

“Associated Body Corporate”
means (as determined in accordance with the Corporations Act  2001):

 

(a)                                  a body corporate that is a related body corporate of the Company; or

 

(b)                                 a body corporate that has voting power in the Company of not less than
20%; or

 

(c)                                  a body corporate in which the Company has voting power of not less
than 20%;

 

“Australian Offeree” means any person to whom an offer or invitation of Common Shares,
Stock Options, Restricted Share Units and/or other Awards is made in Australia
under the Australian Plan;

 

“Australian Subsidiary” means each Australian Associated Body Corporate of the Company
whose employees have been designated to participate in the Australian Plan;

 

 

“Award” means any Stock Option, SAR, Performance Share, Performance Unit,
Restricted Share or Restricted Share Unit as defined under the Activision
Blizzard Incentive Plan;

 

“Offer” means an offer made in Australia to Australian Offerees to acquire Common
Shares under the terms of the Australian Plan; and

 

“Australian Plan” means the Activision Blizzard Incentive Plan, as supplemented for
implementation in Australia by the Australian Addendum.

 

3.                                      FORM OF
AWARDS GOVERNED BY THIS ADDENDUM

 

This
Australian Addendum governs the grant of Awards in Australia under the Australian
Plan.  Other awards contemplated by
the Activision Blizzard Incentive Plan will not be granted under this
Addendum.  All Awards will be granted to
Australian Offerees at no cost to them.

 

4.                                      AUSTRALIAN
OFFEREES

 

In Australia,
an Offer may be extended only to Australian Offerees who at the time of the Offer
are full- or part-time employees or directors of the Company or an Australian Subsidiary
and who meet the eligibility requirements of the Australian Plan.

 

5.                                      NO
CONTRIBUTION PLAN OR TRUST

 

An Offer under
the Australian Plan must not involve a contribution plan and the Company may
not make any offer, issue or sale under the Australian Plan through a trust.

 

6.                                      AUSTRALIAN
OFFER DOCUMENT

 

6.1                                                 Copy
of Australian Plan

 

Any Offer made in Australia to participate in the Australian Plan must
be in writing (the “Offer Document”) and such writing must set out the terms of the Offer and
must include or be accompanied by a copy of the rules of the Australian
Plan (or a summary thereof).  Where a
summary of the Australian Plan is provided with the Offer, the Offer Document
must include an undertaking that, during the period in which Awards may be granted
or Common Shares may be acquired under the Australian Plan, the Company or its
Australian Subsidiary will, within a reasonable period of time of an Australian
Offeree so requesting, provide the Australian Offeree with a copy of the rules of
the Australian Plan, without charge.  The
Company must take reasonable steps to ensure that any Australian Offeree is given
a copy of the Offer Document.

 

6.2                                                 Australian Dollar Equivalent of Exercise Price (for Stock Options) or
Issue Price (for other Awards)

 

For the
Offer of Stock Options, the Offer Document must specify the Australian dollar
equivalent of the Exercise Price as of the date of the Offer.

 

2

 

For the
Offer of any other type of Award, the Offer Document must specify the
Australian dollar equivalent of the issue price of the underlying Common
Shares, the subject of the Offer Document (the “Issue Price”),
if any, as of the date of the Offer.

 

6.3                                            Updated
Pricing Information

 

The
Offer Document must include an undertaking by the Company that, and an
explanation of the way in which, the Company or its Australian Subsidiary will
(during the Offer period and within a reasonable period of an Australian
Offeree so requesting) make available to the Australian Offeree the following
information:

 

(a)                                                    the Australian dollar equivalent of the current Market Value per Share
as of the date of the Australian Offeree’s request; and

 

(b)                                                   the Australian dollar equivalent of the Exercise Price or the Issue
Price, as applicable, as of the date of the Australian Offeree’s request.

 

For the
purposes of this clause 6.3 and as defined in Section 2(t) of the Activision
Blizzard Incentive Plan, the Market Value per Share means: as of a particular date,
the closing price per Common Share as reported on the principal securities
exchange, association or quotation system on which Common Shares are then
listed or quoted.  Please note that, for
Australian tax purposes, market value is defined differently than Market Value
per Share, as described in the applicable Offer Document.

 

6.4                                            Exchange
Rate for Australian Dollar Equivalent of Exercise Price or Issue Price

 

For the
purposes of clauses 6.2 and 6.3, the Australian / U.S. dollar exchange rate
shall be calculated by reference to the relevant exchange rate published by an
Australian bank no earlier than on the previous business day.

 

7.                                      LOAN
OR FINANCIAL ASSISTANCE

 

If the Company
or an Associated Body Corporate offers an Australian Offeree any loan or other
financial assistance for the purpose of acquiring the Common Shares to which
the Offer relates, the Offer Document must disclose the conditions, obligations
and risks associated with such loan or financial assistance.

 

8.                                      RESTRICTION
ON CAPITAL RAISING: 5% LIMIT

 

In the case of any Offer that will involve
the issue of Common Shares or a right to purchase or receive Common Shares,
including Awards, the number of Common Shares that are the subject of the Offer
under the Australian Plan, or to be received pursuant to an Award, when
aggregated with:

 

(a)                                                    the number of Common Shares in the same class which would be issued to
Australian Offerees were each outstanding Offer of Common Shares or Awards to
acquire 

 

3

 

unissued Common Shares under the Australian Plan or
any other employee share scheme of the Company, to be accepted or exercised (as
the case may be); and

 

(b)                                                   the number of Common Shares in the same class issued during the
previous five (5) years pursuant to the Australian Plan or any other
employee share scheme extended only to employees or directors of the Company or
any Associated Body Corporate of the Company;

 

but not
including any Offer made, Award granted or Common Shares issued by way of or as
a result of:

 

(i)            an offer or invitation to
a person situated at the time of receipt of the offer or invitation outside
Australia; or

 

(ii)           an offer that was an
excluded offer or invitation within the meaning of the Corporations
Act 2001 as it existed prior to 13 March 2000; or

 

(iii)          an offer that did not require
disclosure to investors because of section 708 of the Corporations
Act  2001; or

 

(iv)          an offer that did not
require a Product Disclosure Statement because of section 1012D of the Corporations Act  2001; or

 

(v)           an offer made under a
disclosure document or a Product Disclosure Statement,

 

must not
exceed five percent (5%) of the total number of issued Common Shares in that
class of shares of the Company as at the time of the Offer.

 

9.                                      LODGING
OF OFFER DOCUMENTS WITH ASIC

 

A copy of the
Offer Document (which need not contain details of the Offer particular to the
Australian Offeree such as the identity or entitlement of the Offeree) and each
accompanying document must be filed with ASIC no later than seven (7) days
after the first distribution of such documents to an Australian Offeree.

 

10.                               COMPLIANCE
WITH UNDERTAKINGS

 

The Company or an Australian Subsidiary must
comply with any undertaking required to be made in the Offer Document including
the undertaking to provide updated pricing information on request.

 

*                                         *                                         *                                         *                                         *

 

4

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