Document:

ex10changeincontrolagreement.htm

    AMERICAN
ELECTRIC POWER SERVICE CORPORATION

    

    CHANGE IN
CONTROL AGREEMENT

    

    As
Revised Effective November 1, 2009

    

    Whereas, American Electric Power
Service Corporation, a New York corporation, including any of its subsidiary
companies, divisions, organizations, or affiliated entities (collectively
referred to as “AEPSC”) considers it essential to its best interests and the
best interests of the shareholders of the American Electric Power Company, Inc.,
a New York corporation, (hereinafter referred to as “Corporation”) to foster the
continued employment of key management personnel; and

    

    Whereas, the uncertainty attendant to a
Change In Control of the Corporation may result in the departure or distraction
of management personnel to the detriment of AEPSC and the shareholders of the
Corporation; and

    

    Whereas, the Board of the Corporation
has determined that steps should be taken to reinforce and encourage the
continued attention and dedication of members of AEPSC’s management to their
assigned duties in the event of a Change In Control of the Corporation;
and

    

    Whereas, AEPSC therefore previously
established the American Electric Power Service Corporation Change In Control
Agreement (the “Agreement”), the current version of which is set forth in a
document dated effective January 1, 2008; and

    

    Whereas,
the Human Resources Committee of the Board of the Corporation has decided to
change the payments that should be provided to employees who are named as
participating Executives (as defined in Article I(l) of the Agreement) on or
after October 1, 2009;

    

    Now,
Therefore, AEPSC hereby amends the Agreement in its entirety.

    

    

    ARTICLE
I

    DEFINITIONS

    

    As used herein the following words and
phrases shall have the following respective meanings unless the context clearly
indicates otherwise.

    

    (a)  “Anniversary Date” means
January 1 of each Calendar Year.

    

    (b)  “Annual Compensation”
means the sum of the Executive’s Annual Salary and the Executive’s Target Annual
Incentive.

    

    (c)  “Annual Salary” means
the Executive’s regular annual base salary immediately prior to the Executive’s
termination of employment, including compensation converted to other benefits
under a flexible pay arrangement maintained by AEPSC or deferred pursuant to a
written plan or agreement with AEPSC, but excluding sign-on bonuses, allowances
and compensation paid or payable under any of AEPSC’s long-term or short-term
incentive plans or any similar payments, and any salary lump sum amount paid in
lieu of or in addition to a base wage or salary increase.

    

    (d)  “Board”
means the Board of Directors of American Electric Power Company,
Inc.

    

    (e)  “Calendar
Year” means the twelve (12) month period commencing each January 1 and ending
each December 31.

    

    (f)  “Cause” shall
mean

    

    (i) the
willful and continued failure of the Executive to perform substantially the
Executive’s duties with AEPSC (other than any such failure as reasonably and
consistently determined by the Board to have resulted from incapacity due to
physical or mental illness), after a written demand for substantial performance
is delivered to the Executive by the Board or an elected officer of AEPSC which
specifically identifies the manner in which the Board or the elected officer
believes that the Executive has not substantially performed the Executive’s
duties, or

    

    (ii) the
willful conduct or omission by the Executive, which the Board determines to be
illegal or gross misconduct that is demonstrably injurious to AEPSC or the
Corporation; or a breach of the Executive’s fiduciary duty to AEPSC or the
Corporation, as determined by the Board.

    

    For purposes of this provision, no act
or failure to act, on the part of the Executive, shall be considered “willful”
unless it is done, or omitted to be done, by the Executive in bad faith or
without reasonable belief that the Executive’s action or omission was in the
best interests of AEPSC or the Corporation.  Any act, or failure to
act, based upon authority given pursuant to a resolution duly adopted by the
Board or upon the advice of counsel for AEPSC or the Corporation, shall be
conclusively presumed to be done, or omitted to be done, by the Executive in
good faith and in the best interests of AEPSC or the Corporation

    

    (g)  “Change In Control” of
the Corporation shall be deemed to have occurred if and as of such date that (i)
any “person” or “group” (as such terms are used in Section 13(d) and 14(d) of
the Securities Exchange Act of 1934 (“Exchange Act”)), other than AEPSC, any
company owned, directly or indirectly, by the shareholders of the Corporation in
substantially the same proportions as their ownership of stock of the
Corporation or a trustee or other fiduciary holding securities under an employee
benefit plan of the Corporation, becomes the “beneficial owner” (as defined in
Rule 13d-3 under the Exchange Act), directly or indirectly, of more than one
third of the then outstanding voting stock of the Corporation; or (ii) the
consummation of a merger or consolidation of the Corporation with any other
entity, other than a merger or consolidation which would result in the voting
securities of the Corporation outstanding immediately prior thereto continuing
to represent (either by remaining outstanding or by being converted into voting
securities of the surviving entity) at least two-thirds of the total voting
power represented by the voting securities of the Corporation or such surviving
entity outstanding immediately after such merger or consolidation; or (iii) the
consummation of the complete liquidation of the Corporation or the sale or
disposition by the Corporation (in one transaction or a series of transactions)
of all or substantially all of the Corporation’s assets.

    

    (h)  “CIC
Multiple” means a factor of (i) two and ninety-nine one-hundredths (2.99) with
respect to the Chief Executive Officer of American Electric Power Service
Corporation and such other Executives who are nominated for such factor by the
Chief Executive Officer of American Electric Power Service Corporation and
approved by the Human Resources Committee of the Board of the Corporation; or
(ii) two (2.00) with respect to all other Executives.

    

    (i)  “Code” means the
Internal Revenue Code of 1986, as amended from time to time.

    

    (j)  “Commencement Date”
means January 1, 2008, which shall be the beginning date of the term of this
Agreement.

    

    (k)  “Disability” means the
Executive’s total and permanent disability as defined in AEPSC’s long-term
disability plan covering the Executive immediately prior to the Change In
Control.

    

    (l)  “Executive” means an
employee of AEPSC or the Corporation who is designated by AEPSC and approved by
the Human Resources Committee of the Board of the Corporation as an employee
entitled to benefits, if any, under the terms of this
Agreement.  References in this agreement to the Executive shall be
construed to include a Grandfathered Executive.

    

    (m)  “Good Reason”
means

    

    (1) an
adverse change in the Executive’s status, duties or responsibilities as an
executive of AEPSC as in effect immediately prior to the Change In
Control;

    

    (2)
failure of AEPSC to pay or provide the Executive in a timely fashion the salary
or benefits to which the Executive is entitled under any employment agreement
between AEPSC and the Executive in effect on the date of the Change In Control,
or under any benefit plans or policies in which the Executive was participating
at the time of the Change In Control;

    

    (3) the
reduction of the Executive’s base salary as in effect on the date of the Change
In Control;

    

    (4) the
taking of any action by AEPSC (including the elimination of a plan without
providing substitutes therefor, the reduction of the Executive’s awards
thereunder or failure to continue the Executive’s participation therein) that
would substantially diminish the aggregate projected value of the Executive’s
awards or benefits under AEPSC’s benefit plans or policies in which the
Executive was participating at the time of the Change In Control; provided,
however, that the diminishment of such awards or benefits that apply to other
groups of employees of AEPSC in addition to Executives covered by this or a
similar agreement shall be disregarded;

    

    (5) a
failure by AEPSC or the Corporation to obtain from any successor the assent to
this Agreement contemplated by Article IV hereof; or

    

    (6) the
relocation, without the Executive’s prior approval, of the office at which the
Executive is to perform services on behalf of AEPSC to a location more than
fifty (50) miles from its location immediately prior to the Change In
Control.

    

    Any circumstance described in this
Article I(m) shall constitute Good Reason even if such circumstance would not
constitute a breach by AEPSC of the terms of an employment agreement between
AEPSC and the Executive in effect on the date of the Change In
Control.  However, such circumstance shall not constitute Good Reason
unless (i) within ninety (90) days of the initial existence of such
circumstance, the Executive shall have given AEPSC written notice of such
circumstance, and (ii) AEPSC shall have failed to remedy such circumstance
within thirty (30) days after its receipt of such notice.  Such
written notice to be provided by the Executive to AEPSC shall specify (A) the
effective date for the Executive’s proposed termination of employment (provided
that such effective date may not precede the expiration of the period for
AEPSC’s opportunity to remedy), (B) reasonable detail of the facts and
circumstances claimed to provide the basis for termination, and (C) the
Executive’s belief that such facts and circumstance would constitute Good Reason
for purposes of this Agreement.  The Executive’s continued employment
shall not constitute consent to, or a waiver of rights with respect to, any
circumstances constituting Good Reason hereunder.

    

    (n)  “Grandfathered
Executive” means an individual who became an Executive [as defined in Article
I(l)] prior to October 1, 2009, and who continuously has remained such an
Executive until becoming entitled to benefits set forth in this
Agreement.

    

    (o)  “Qualifying
Termination” shall mean following a Change In Control and during the term of
this Agreement the Executive’s employment is terminated for any reason excluding
(i) the Executive’s death, (ii) the Executive’s Disability, (iii) the exhaustion
of the Executive’s benefits under the terms of an applicable AEPSC sick pay plan
or long-term disability plan (other than by reason of the amendment or
termination of such a plan), (iv) the Executive’s Retirement, (v) by AEPSC for
Cause or (vi) by the Executive without Good Reason.  In addition, a
Qualifying Termination shall be deemed to have occurred if, prior to a Change In
Control, the Executive’s employment was terminated during the term of this
Agreement (A) by AEPSC without Cause, or (B) by the Executive based on events or
circumstances that would constitute Good Reason if a Change in Control had
occurred, in either case, (x) at the request of a person who has entered into an
agreement with AEPSC or the Corporation, the consummation of which would
constitute a Change In Control or (y) otherwise in connection with, as a result
of or in anticipation of a Change In Control.  The mere act of
approving a Change In Control agreement shall not in and of itself be deemed to
constitute an event or circumstance in anticipation of a Change In Control for
purposes of this Article I(n).

    

    (p)  “Retirement” shall mean
an Executive’s voluntary termination of employment after attainment of age 55
with five or more years of service with AEPSC without Good Reason.

    

    (q)  “Target Annual
Incentive” shall mean the award that the Executive would have received under the
Senior Officer Annual Incentive Compensation Plan or such other annual incentive
compensation plan applicable to such Executive for the year in which the
Executive’s termination occurs, if one hundred percent (100%) of the annual
target award has been earned.  Executives not participating in an
annual incentive compensation plan that has predefined target levels will be
treated as though they were participants in an annual incentive plan with such
targets and will be assigned the same annual target percent as their
participating peers in a comparable salary grade.

    

    

    ARTICLE
II

    TERM OF
AGREEMENT

    

    2.1           The
initial term of this Agreement shall be for the period beginning on the
Commencement Date and ending on the December 31 immediately following the
Commencement Date.  The term of this Agreement shall automatically be
extended for an additional Calendar Year on the first Anniversary Date
immediately following the initial term of this Agreement without further action
by AEPSC, and shall be automatically extended for an additional Calendar Year on
each succeeding Anniversary Date, unless AEPSC shall have served notice upon the
Executive at least thirty (30) days prior to such Anniversary Date of AEPSC’s
intention that this Agreement shall not be extended, provided, however, that if
a Change In Control of the Corporation shall occur during the term of this
Agreement, this Agreement shall terminate two years after the date the Change In
Control is completed.

    

    2.2           If
an employee is designated as an Executive after the Commencement Date or after
an Anniversary Date, the initial term of this Agreement shall be for the period
beginning on the date the employee is designated as an Executive and ending on
the December 31 immediately following.

    

    2.3           Notwithstanding
Section 2.1, the term of this Agreement shall end upon any termination of the
Executive’s employment that is other than a Qualifying Termination in connection
with a Change In Control of the Corporation.  For example, this
Agreement shall terminate if the Executive’s position is eliminated and the
Executive’s employment is terminated, other than in connection with a Change In
Control of the Corporation, (i) due to a downsizing, consolidation or
restructuring of AEPSC or of any other subsidiary of the Corporation or
(ii) due to the sale, disposition or divestiture of all or a portion of AEPSC or
of any other subsidiary of the Corporation.

    

    

    ARTICLE
III

    COMPENSATION
UPON A QUALIFYING TERMINATION IN CONNECTION WITH A CHANGE IN
CONTROL

    

    3.1           Except
as otherwise provided in Section 3.3, upon a Qualifying Termination, the
Executive shall be under no further obligation to perform services for AEPSC and
shall be entitled to receive the following payments and benefits:

    

    
      	
               
      

            	
              (a)

            	
              As
      soon as practicable following the Executive’s date of termination, AEPSC
      shall make a lump sum cash payment to the Executive in an amount equal to
      the sum of (1) the Executive’s Annual Salary through the date of
      termination to the extent not theretofore paid, (2) the product of (x) the
      current plan year’s Target Annual Incentive and (y) a fraction, the
      numerator of which is the number of days in such calendar year through the
      date of termination, and the denominator of which is 365, except that
      annual incentive plans which do not have predetermined annual target
      awards for participants shall have their pro-rated incentive compensation
      award for the current plan year paid as soon as practicable, and (3) any
      accrued vacation pay that otherwise would be available upon the
      Executive’s termination of employment with AEPSC, in each case to the
      extent not theretofore paid and in full satisfaction of the rights of the
      Executive thereto; provided, however, in the case of a Qualifying
      Termination in the circumstances specified in Article I(o)(B), payment of
      the amount described in subsection (2) of this Section 3.1(a) shall not be
      made until immediately after the Change in Control event or circumstance;
      and

            

    

    

    
      	
               
      

            	
              (b)

            	
              Within
      sixty (60) days of the Executive’s return of the signed release form,
      AEPSC shall make a lump sum cash payment to the Executive in an amount
      equal to the CIC Multiple times the Executive’s Annual Compensation. If
      the Qualifying Termination is specified in Article I(o) (A) or (B), no
      such lump sum payment shall be made unless and until the Change in Control
      related to the Qualifying Termination shall have
  occurred.

            

    

    

    3.2           The
Executive shall be entitled to such outplacement services and other non-cash
severance or separation benefits as may then be available under the terms of a
plan or agreement to groups of employees of AEPSC in addition to Executives who
are covered under the terms of this or a similar agreement.  See also
section 3.3(b).  To the extent any benefits described in this Article
III, Section 3.2 cannot be provided pursuant to the appropriate plan or program
maintained by AEPSC, AEPSC shall provide such benefits outside such plan or
program at no additional cost to the Executive.

    

    3.3           Notwithstanding
the foregoing;

    

    
      	
               
      

            	
              (a)

            	
              The
      severance payments and benefits provided under Sections 3.1(b), 3.2 and,
      if applicable, 3.4 hereof shall be conditioned upon the Executive
      executing a release at the time the Executive’s employment is terminated,
      in the form established by the Corporation or by AEPSC, releasing the
      Corporation, AEPSC and their shareholders, partners, officers, directors,
      employees and agents from any and all claims and from any and all causes
      of action of kind or character, including but not limited to all claims or
      causes of action arising out of Executive’s employment with the
      Corporation or AEPSC or the termination of such
  employment.

            

    

    

    
      	
               
      

            	
              (b)

            	
              The
      severance payments and benefits provided under Sections 3.1, 3.2 and, if
      applicable, 3.4 hereof shall be subject to, and conditioned upon, the
      waiver of any other cash severance payment or other benefits provided by
      AEPSC pursuant to any other severance agreement between AEPSC and the
      Executive.  No amount shall be payable under this Agreement to,
      or on behalf of the Executive, if the Executive elects benefits under any
      other cash severance plan or program, or any other special pay arrangement
      with respect to the termination of the Executive’s
    employment.

            

    

    

    
      	
               
      

            	
              (c)

            	
              The
      Executive agrees that at all times following termination, the Executive
      will not, without the prior written consent of AEPSC or the Corporation,
      disclose to any person, firm or corporation any “confidential
      information,” of AEPSC or the Corporation which is now known to the
      Executive or which hereafter may become known to the Executive as a result
      of the Executive’s employment or association with AEPSC or the
      Corporation, unless such disclosure is required under the terms of a valid
      and effective subpoena or order issued by a court or governmental body;
      provided, however, that the foregoing shall not apply to confidential
      information which becomes publicly disseminated by means other than a
      breach of this provision.  It is recognized that damages in the
      event of breach of this Section 3.3(c) by the Executive would be
      difficult, if not impossible, to ascertain, and it is therefore agreed
      that AEPSC and the Corporation, in addition to and without limiting any
      other remedy or right that AEPSC or the Corporation may have, shall have
      the right to an injunction or other equitable relief in any court of
      competent jurisdiction, enjoining any such breach, and the Executive
      hereby waives any and all defenses the Executive may have on the ground of
      lack of jurisdiction or competence of the court to grant such an
      injunction or other equitable relief.  The existence of this
      right shall not preclude AEPSC or the Corporation from pursuing any other
      rights or remedies at law or in equity which AEPSC or the Corporation may
      have.

            

    

    

    
      	
               
      

            	
              “Confidential
      information” shall mean any confidential, propriety and or trade secret
      information, including, but not limited to, concepts, ideas, information
      and materials relating to AEPSC or the Corporation, client records, client
      lists, economic and financial analysis, financial data, customer
      contracts, marketing plans, notes, memoranda, lists, books,
      correspondence, manuals, reports or research, whether developed by AEPSC
      or the Corporation or developed by the Executive acting alone or jointly
      with AEPSC or the Corporation while the Executive was employed by
      AEPSC.

            

    

    

    3.4           Notwithstanding
anything to the contrary in this Agreement, but subject to the requirements of
Section 3.3, in the event that any payment or distribution by AEPSC to or for
the benefit of any Grandfathered Executive, whether paid or payable or
distributed or distributable pursuant to the terms of this Agreement or
otherwise (a "Payment"), would be subject to the excise tax imposed by Section
4999 of the Internal Revenue Code of 1986, as amended (the “Code”) (or any
successor provision thereto) by reason of being “contingent on a change in
ownership or control” of the Corporation, within the meaning of Section 280G of
the Code (or any successor provision thereto) or any interest or penalties with
respect to such excise tax other than any such amount as may become payable by
the Grandfathered Executive by reason of Code Section 409A (such excise tax,
together with any such interest or penalties, are hereinafter collectively
referred to as the "Excise Tax"), and the aggregate total of such Payments (the
“Total Payments”) is determined to be an “excess parachute payment” pursuant to
Code Section 280G with the effect that the Grandfathered Executive is liable for
the payment of the Excise Tax.

    

    
      	
               
      

            	
              (a)

            	
              If
      the Total Payments do not exceed 105% of the amount as would trigger the
      Grandfathered Executive having any “parachute payment” as described in
      Code Section 280G(b)(2), then, after taking into account any reduction in
      the Total Payments provided by reason of Code Section 280G in such other
      plans, arrangements or agreements, the cash payments provided in Section
      3.2 of this Agreement shall first be reduced, and the noncash payments and
      benefits shall thereafter be reduced, to the extent necessary so that no
      portion of the Total Payments is subject to the Excise Tax; provided,
      however, that the Grandfathered Executive may elect (at any time prior to
      the payment of any Total Payment under this Agreement) to have the noncash
      payments and benefits reduced (or eliminated) prior to any reduction of
      the cash payments under this
Agreement.

            

    

    

    
      	
               
      

            	
              (b)

            	
              If
      the Total Payments exceed 105% of the amount as would trigger the
      Grandfathered Executive having any “parachute payment” as described in
      Code Section 280G(b)(2), then, AEPSC shall pay to the Grandfathered
      Executive an additional payment (a "Gross-up Payment") in an amount such
      that after payment by the Grandfathered Executive of all taxes (including
      any interest or penalties imposed with respect to such taxes, but
      excluding any such taxes, interest or penalties as may be imposed on the
      Grandfathered Executive pursuant to Code Section 409A), including any
      Excise Tax imposed on any Gross-up Payment, the Grandfathered Executive
      retains an amount of the Gross-up Payment equal to the Excise Tax imposed
      upon the Payments.

            

    

    

    
      	
               
      

            	
              (c)

            	
              All
      determinations required to be made under this Section 3.4, including the
      assumptions to be utilized in arriving at such determinations and whether
      an Excise Tax is payable by the Grandfathered Executive and the amount of
      such Excise Tax, shall be made by a nationally recognized tax preparation,
      financial counseling or public accounting firm (the “Tax Firm”) that is
      experienced in 280G calculations and that is selected by AEPSC prior to
      the Change in Control.  The Tax Firm shall be directed by AEPSC
      to submit its preliminary determination and detailed supporting
      calculations to both AEPSC and the Grandfathered Executive within 15
      calendar days after the date of the Grandfathered Executive’s termination
      of employment, if applicable, and any other such time or times as may be
      requested by AEPSC or the Grandfathered Executive.  If the Tax
      Firm determines that Excise Tax would be payable by the Grandfathered
      Executive if not for the applicability of Section 3.4(a), AEPSC shall
      reduce the payments as described in said Section 3.4(a) in a manner
      consistent with determinations made by the Tax Firm.  If the Tax
      Firm determines that a Gross-up Payment to the Grandfathered Executive is
      triggered pursuant to Section 3.4(b), AEPSC shall make the Gross-Up
      Payment attributable thereto.  If the Tax Firm determines that
      no Excise Tax is payable by the Grandfathered Executive, it shall, at the
      same time as it makes such determination, furnish the Grandfathered
      Executive with an opinion that she has substantial authority not to report
      any Excise Tax on her federal, state, local income or other tax
      return.  All fees and expenses of the Tax Firm shall be paid by
      AEPSC in connection with the calculations required by this
      section.

            

    

    

    
      	
               
      

            	
              (d)

            	
              The
      federal, state and local income or other tax returns filed by the
      Grandfathered Executive (or any filing made by a consolidated tax group,
      which includes AEPSC) shall be prepared and filed on a consistent basis
      with the determination of the Tax Firm with respect to the Excise Tax
      payable by the Grandfathered Executive.  The Grandfathered
      Executive shall make proper payment of the amount of any Excise Tax, and
      at the request of AEPSC, provide to AEPSC true and correct copies (with
      any amendments) of her federal income tax return as filed with the
      Internal Revenue and such other documents reasonably requested by AEPSC,
      evidencing such payment.

            

    

    

    
      	
               
      

            	
              (e)

            	
              The
      Grandfathered Executive shall notify AEPSC immediately in writing of any
      claim by the Internal Revenue Service that, if successful, would require
      AEPSC to make a Gross-up Payment (or a Gross-up Payment in excess of that,
      if any, initially determined under Section 3.4(b)) within five days of the
      receipt of such claim.  AEPSC shall notify the Grandfathered
      Executive in writing at least five days prior to the due date of any
      response required with respect to such claim, or such shorter time period
      following AEPSC's receipt of the notice, if it plans to contest the
      claim.  If AEPSC decides to contest such claim, the
      Grandfathered Executive shall cooperate fully with AEPSC in such action;
      provided, however, AEPSC shall bear and pay directly or indirectly all
      costs and expenses (including additional interest and penalties) incurred
      in connection with such action and shall indemnify and hold the
      Grandfathered Executive harmless, on an after-tax basis, for any Excise
      Tax or income tax, including interest and penalties with respect thereto,
      imposed as a result of AEPSC's action.  If the Grandfathered
      Executive receives a refund of any amount paid by AEPSC with respect to
      such claim, the Grandfathered Executive shall promptly pay to AEPSC (i)
      such refund and (ii) the amount of any Gross-up Payment associated with
      such refund that is not included in the amount of such refund (such as
      taxes other than federal taxes included in the Gross-up
      Payment).  If AEPSC fails to timely notify the Grandfathered
      Executive whether it will contest such claim or AEPSC determines not to
      contest such claim, then AEPSC shall immediately pay to the Grandfathered
      Executive the portion of such claim, if any, which it has not previously
      paid to the Grandfathered Executive as well as the amount of any Gross-up
      Payment (calculated pursuant to Section 3.4) associated with such payment
      but that has not otherwise been paid to the Grandfathered
      Executive.

            

    

    

    
      	
               
      

            	
              (f)

            	
              Unless
      otherwise required by this Agreement to be paid earlier, any Gross-up
      Payment required under this Section 3.4 shall be paid no later than the
      end of the Grandfathered Executive’s taxable year next following the
      Grandfathered Executive’s taxable year in which the related taxes are
      remitted to the applicable taxing
authority.

            

    

    

    3.5           The
obligations of AEPSC to pay the benefits described in Sections 3.1, 3.2, and if
applicable, 3.4, shall, subject to Section 3.3, be absolute and unconditional
and shall not be affected by any circumstances, including, without limitation,
any set-off, counterclaim, recoupment, defense or other right which AEPSC may
have against the Executive; provided, however, AEPSC shall comply with and
enforce obligations of AEPSC or the Executive under law determined by AEPSC to
be applicable, including any withholding in order to comply with a court
order.  In no event shall the Executive be obligated to seek other
employment or take any other action by way of mitigation of the amounts payable
to the Executive under any of the provisions of this Agreement, nor shall the
amount of any payment hereunder be reduced by any compensation earned by the
Executive as a result of employment by another employer.

    

    3.6           Executive
alone shall be liable for the payment of any and all tax cost, incremental or
otherwise, incurred by the Executive in connection with the provision of any
benefits described in this Agreement.  No provision of this Agreement
shall be interpreted to provide for the gross-up or other mitigation of any
amount payable or benefit provided to the Executive under the terms of this
Agreement as a result of such taxes, except to the extent specifically set forth
in Section 3.4.

    

    3.7           Notwithstanding
any provision of this Agreement to the contrary, if the Executive is a
“specified employee” (as determined with respect AEPSC for purposes of Code
Section 409A), the Executive shall not be entitled to any payments upon
separation of service prior to the earliest of (1) the date that is six months
after the date of separation from service for any reason other than
death,  (2) the date of the Executive’s death, or (3) such earlier
time that would not cause the Executive to incur any excise tax under Code
Section 409A.

    

    

    ARTICLE
IV

    SUCCESSOR
TO CORPORATION

    

    4.1           This
Agreement shall bind any successor of AEPSC or the Corporation, its assets or
its businesses (whether direct or indirect, by purchase, merger, consolidation
or otherwise) in the same manner and to the same extent that AEPSC or the
Corporation would be obligated under this Agreement if no succession had taken
place.

    

    4.2           In
the case of any transaction in which a successor would not by the foregoing
provision or by operation of law be bound by this Agreement, AEPSC and the
Corporation shall require such successor expressly and unconditionally to assume
and agree to perform AEPSC’s and the Corporation’s obligations under this
Agreement, in the same manner and to the same extent that AEPSC and the
Corporation would be required to perform if no such succession had taken
place.  The term “Corporation,” as used in this Agreement, shall mean
the Corporation as hereinbefore defined and any successor or assignee to its
business or assets which by reason hereof becomes bound by this
Agreement.

    

    

    ARTICLE
V

    MISCELLANEOUS

    

    5.1           Any
notices and all other communications provided for herein shall be in writing and
shall be deemed to have been duly given when delivered or mailed, by certified
or registered mail, return receipt requested, postage prepaid addressed to AEPSC
at its principal office and to the Executive at the Executive’s residence or at
such other addresses as AEPSC or the Executive shall designate in
writing.

    

    5.2           Except
to the extent otherwise provided in Article II (Term of Agreement), no provision
of this Agreement may be modified, waived or discharged except in writing
specifically referring to such provision and signed by either AEPSC or the
Executive against whom enforcement of such modification, waiver or discharge is
sought.  No waiver by either AEPSC or the Executive of the breach of
any condition or provision of this Agreement shall be deemed a waiver of any
other condition or provision at the same or any other time.

    

    5.3           The
validity, interpretation, construction and performance of this Agreement shall
be governed by the laws of the State of Ohio.

    

    5.4           The
invalidity or unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of any other provision of this Agreement,
which shall remain in full force and effect.

    

    5.5           This
Agreement does not constitute a contract of employment or impose on the
Executive, AEPSC or the Corporation any obligation to retain the Executive as an
employee, to change the status of the Executive’s employment, or to change
AEPSC’s policies regarding the termination of employment.

    

    5.6           If
the Executive 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
right or benefit provided by this Agreement, AEPSC will pay for all actual and
reasonable legal fees and expenses incurred (as incurred) by the Executive,
regardless of the outcome of such action; provided, however, that if such action
instituted by the Executive is found by a court of competent jurisdiction to be
frivolous, the Executive shall not be entitled to legal fees and expenses and
shall be liable to AEPSC for amounts already paid for this purpose.

    

    5.7           If
the Executive makes a written request alleging a right to receive benefits under
this Agreement or alleging a right to receive an adjustment in benefits being
paid under the Agreement, AEPSC shall treat it as a claim for
benefit.  All claims for benefit under the Agreement shall be sent to
the Human Resources Department of AEPSC and must be received within 30 days
after the Executive’s termination of employment.  If AEPSC determines
that the Executive who has claimed a right to receive benefits, or different
benefits, under the Agreement is not entitled to receive all or any part of the
benefits claimed, it will inform the Executive in writing of its determination
and the reasons therefor in terms calculated to be understood by the
Executive.  The notice will be sent within 90 days of the claim unless
AEPSC determines additional time, not exceeding 90 days, is
needed.  The notice shall make specific reference to the pertinent
Agreement provisions on which the denial is based, and describe any additional
material or information, if any, necessary for the Executive to perfect the
claim and the reason any such additional material or information is
necessary.  Such notice shall, in addition, inform the Executive what
procedure the Executive should follow to take advantage of the review procedures
set forth below in the event the Executive desires to contest the denial of the
claim.  The Executive may within 90 days thereafter submit in writing
to AEPSC a notice that the Executive contests the denial of the claim by AEPSC
and desires a further review.  AEPSC shall within 60 days thereafter
review the claim and authorize the Executive to appear personally and review
pertinent documents and submit issues and comments relating to the claim to the
persons responsible for making the determination on behalf of
AEPSC.  AEPSC will render its final decision with specific reasons
therefor in writing and will transmit it to the Executive within 60 days of the
written request for review, unless AEPSC determines additional time, not
exceeding 60 days, is needed, and so notifies the Executive.  If AEPSC
fails to respond to a claim filed in accordance with the foregoing within 60
days or any such extended period, AEPSC shall be deemed to have denied the
claim.

    

    AEPSC has
caused this Change In Control Agreement to be signed on behalf of all
participating employers effective as of the 1st day
of November, 2009.

    

    

    
      	 
      	
              American
      Electric Power Service Corporation

            
	 
      	 
      
	 
      	 
      
	 
      	
              By  /s/ Michael G.
      Morris

            
	 
      	
                    
      Michael G. Morris

            
	 
      	
                    
      Chairman, President & CEOex10amendmentstockownership.htm

    AMERICAN
ELECTRIC POWER SYSTEM

    STOCK
OWNERSHIP REQUIREMENT PLAN

    

    (As
Amended and Restated Effective January 1, 2010)

    

    

    

    ARTICLE
I

    

    PURPOSE
AND EFFECTIVE DATE

    

    1.1  The Human Resources
Committee (“HRC”) of the Board of Directors of American Electric Power Company,
Inc. believes that it is critical to AEP’s long-term success to effectively
align the long-term financial interests of senior executives with those of AEP’s
shareholders and that an effective alignment is best accomplished by
substantial, long-term stock ownership.  The American Electric Power
System Stock Ownership Requirement Plan (the “Plan”) was established by American
Electric Power Service Corporation (the “Company”) and such subsidiaries of the
Parent Corporation that have Eligible Employees to facilitate the achievement
and maintenance of Minimum Stock Ownership Requirements assigned to Eligible
Employees.

    

    1.2  Except as otherwise
specified herein, the effective date of this Amended and Restated American
Electric Power System Stock Ownership Requirement Plan is January 1, 2010. This
document amends and restates the Plan as most recently amended and restated by a
document that was executed on December 31, 2008, to fix the Determination Date
(as defined in Section 5.3) with respect to Annual Incentive Compensation for
periods that begin on or after January 1, 2010.

    

    

    ARTICLE
II

    

    DEFINITIONS

    

    2.1  “Account” means the
separate memo account established and maintained by the Committee (or the
recordkeeper employed by the Company) to record the number of Shares and Share
Equivalents that have been designated in accordance with the terms of this Plan
to satisfy all Minimum Stock Ownership Requirements assigned to a
Participant.

    

    2.2  “AEP” means the Parent
Corporation and its direct and indirect subsidiaries.

    

    2.3  “Annual Incentive
Compensation” means incentive compensation payable pursuant to the terms of an
annual incentive compensation plan approved by the Committee for inclusion in
the Plan, provided that such annual incentive compensation shall be determined
without regard to any salary or wage reductions made pursuant to sections 125 or
402(e)(3) of the Code or participant contributions pursuant to a pay reduction
agreement under the American Electric Power System Supplemental Retirement
Savings Plan, as amended or the American Electric Power System Incentive
Compensation Deferral Plan.  Annual Incentive Compensation will not
include an employee’s base pay, non-annual bonuses (such as but not limited to
project bonuses and sign-on bonuses), severance pay, or relocation
payments.

    

    2.4  ”Applicable Tax
Payments” means the following types of taxes that AEP may withhold and pay that
are applicable to the amount then credited to the Career Share
Account:

    

    
      	
               
      

            	
              (a)

            	
              Federal
      Insurance Contributions Act (FICA) tax imposed under Code Sections 3101,
      3121(a) and 3121(v)(2) (the “FICA
Amount”);

            

    

    

    
      	
               
      

            	
              (b)

            	
              Income
      tax at source on wages imposed under Code Section 3401 or the
      corresponding withholding provisions of applicable state, local and
      foreign tax laws as a result of the payment of the FICA Amount;
      and

            

    

    

    
      	
               
      

            	
              (c)

            	
              The
      additional income tax at source on wages attributable to pyramiding Code
      Section 3401 wages and taxes;

            

    

    

    provided,
however, that the total Applicable Tax Payments may not exceed such limits as
may be applicable to comply with the requirements of Code Section
409A.

    

    2.5  “Career
Share Account” means a separate memo account that is a subset of the Account
that is maintained to identify the Career Share Units used to satisfy a
Participant’s Minimum Stock Ownership Requirements.

    

    2.6  “Career Share Units” or
“Career Shares” means the Share Equivalents tracked in a Participant’s Career
Share Account in order to determine whether and when the Participant has
satisfied his or her Minimum Stock Ownership Requirements.  Phantom
stock units that become earned and vested under the Long-Term Incentive Plan
represent an example of an award that may become Career Shares under the terms
of this Plan.  Career Shares also have been referred to as “Phantom
Stock Units” in Company communications.

    

    2.7  “Claims
Reviewer” means the person or committee designated by the Company (or by a duly
authorized person) as responsible for the review of claims for benefits under
the Plan in accordance with Section 8.1. Until changed, the Claims Reviewer
shall be the Company’s employee who is the head of the Executive Benefits area
of the Human Resources department.

    

    2.8  “Code” means the
Internal Revenue Code of 1986 as amended from time to time.

    

    2.9  “Committee” means the
committee designated by the Company (or by a duly authorized person) as
responsible for the administration of the Plan.  Until changed, the
Committee shall consist of the employees of the Company holding the following
positions: chief executive officer of the Company; head of the Human Resources
department (currently, Vice President Human Resources); the employee to whom the
head of the Human Resources department reports (currently, Senior Vice President
– Shared Services) and the chief financial officer of the
Company.  The Committee may authorize any person or persons to act on
its behalf with full authority in regard to any of its duties and hereunder
other than those set forth in Section 9.2.

    

    2.10  “Common Stock” means
the common stock, $6.50 par value, of the Parent Corporation.

    

    2.11  “Company” means
American Electric Power Service Corporation.

     

                   
2.12  “Eligible Employee” means any employee of AEP who is hired into
or promoted to a position that is eligible to be assigned a Minimum Stock
Ownership Requirement, and only so long as a Minimum Stock Ownership Requirement
applies.  At the date of execution of this document, a Minimum Stock
Ownership Requirement is assigned to those employees employed at exempt salary
grade 36 or higher.  An individual who is not directly compensated by
AEP or who is not treated by AEP as an active employee shall not be considered
an Eligible Employee.

    

    2.13  First
Date Available” or “FDA” means the last day of the month coincident with or next
following the date that is six (6) months after the date of the Participant’s or
Former Participant’s Termination.

    

    2.14  “Incentive Compensation
Deferral Plan” means the American Electric Power System Incentive Compensation
Deferral Plan, as amended from time to time.

    

    2.15  “Long Term Incentive
Plan” or “LTIP” means the American Electric Power System Long-Term Incentive
Plan, as amended from time to time, including any successor plan or
plans.  The LTIP that is in effect as of the date this Plan is
executed is entitled the “Amended and Restated American Electric Power System
Long-Term Incentive Plan – Approved by Shareholders April 26, 2005 (as amended
through December 12, 2007)”

    

    2.16  “Market
Value” means the closing price of a Share, as published in The Wall Street Journal
report of the New York Stock Exchange – Composite Transactions on the date in
question or, if the Share shall not have been traded on such date or if the New
York Stock Exchange is closed on such date, then the first day prior thereto on
which the Common Stock was so traded.

    

    2.17  “Minimum Stock
Ownership Requirement” or “MSOR” means the targeted aggregate number of Shares
and Share Equivalents specified under the terms of this Plan as applicable to
the Participant.  Participants may be assigned multiple minimum stock
ownership requirements.  Any MSOR assigned to a Participant shall no
longer be applicable to such Participant after the date of the Participant’s
Termination.

    

    2.18  “MSOR Window Period”
means the period that begins as of the date a particular MSOR is effective with
respect to an Eligible Employee (or Participant, with regard to any increase in
his or her MSOR) and ends on the five (5) year anniversary of that
date.

    

    2.19  “Next Date Available”
or “NDA” means the June 30 of the calendar year immediately following the
calendar year in which falls the Participant’s Termination.

    

    2.20  “Parent Corporation”
means American Electric Power Company, Inc., a New York corporation, and any
successor thereto.

    

    2.21  “Participant” is
defined in Article IV.

    

    2.22  “Performance-Based
Compensation” has the meaning set forth in Section 409A(a)(4)(B)(iii) of the
Code.

    

    2.23  “Performance Shares”
means performance shares or performance share units (or other similar types of
equity incentive compensation) awarded under the American Electric Power System
Performance Share Incentive Plan or the Long-Term Incentive
Plan.  Reference in this Plan to the “12/10/2003 Performance Share
Awards” shall be deemed to refer to the Performance Shares that were issued with
a grant date of December 10, 2003 and subject to a performance period from
December 10, 2003 through December 31, 2004.

    

    2.24  “Phantom Stock Units”
are also referred to as “Career Shares.”  See definition of “Career
Share Units,” above.

    

    2.25  “Plan
Year” means the twelve-month period commencing each January 1 and ending the
following December 31.

    

    2.26  “Share” means a share
of common stock of the Parent Corporation, and includes, but is not limited to,
such shares as may be purchased directly by or for the Participant or through
the American Electric Power Company, Inc. Dividend Reinvestment and Direct Stock
Purchase Plan or issued in connection with the Participant’s performance of
services for AEP, such as pursuant to the American Electric Power System
Long-Term Incentive Plan.

    

    2.27  “Share Equivalent” is
determined by reference to the amount credited to the Participant’s Career Share
Account under this Plan and to the Participant’s AEP Stock Fund accounts
maintained in connection with the American Electric Power System Retirement
Savings Plan, the American Electric Power System Supplemental Retirement Savings
Plan, and the American Electric Power System Incentive Compensation Deferral
Plan.  No certificates shall have been issued with respect to such
Share Equivalents.

    

    (a)           To
the extent that the amount credited under these arrangements are not otherwise
reported under the terms of the applicable plan as a number of shares of Common
Stock, the number of Share Equivalents attributable to such amount shall be
determined by dividing the dollar amount so credited by the Market Value of a
Share determined as of the applicable valuation date; provided that effective
beginning May 1, 2008, the number of Share Equivalents attributable to such
amount shall be determined by

    

    
      	
               
      

            	
              (i)

            	
              multiplying
      the dollar amount credited to such AEP Stock Fund under the Plan by the
      Dilution Percentage with respect to that fund as of the applicable
      valuation date; then

            

    

    

    
      	
               
      

            	
              (ii)

            	
              dividing
      the product in (i) by the Market Value of a Share determined as of the
      applicable valuation date.

            

    

    

    (b)           For
purposes of this Section, the “Dilution Percentage” applicable to a plan’s AEP
Stock Fund shall be determined by

    

    
      	
               
      

            	
              (i)

            	
              dividing
      the aggregate Market Value of the Shares held by the fund (or, with
      respect to the phantom AEP Stock Fund that is maintained with respect to
      the American Electric Power System Supplemental Retirement Savings Plan
      and the American Electric Power System Incentive Compensation Deferral
      Plan, by the actual fund to which such phantom fund is tied – currently,
      the AEP Stock Fund under the American Electric Power System Retirement
      Savings Plan); by

            

    

    

    
      	
               
      

            	
              (ii)

            	
              the
      value of all of the assets held in that fund (or such fund to which a
      phantom fund is tied) as of the applicable valuation
  date.

            

    

    

    2.28  “Termination” means
termination of employment with the Company and its subsidiaries and affiliates
for any reason; provided that effective with respect to Participants whose
employment terminates on or after January 1, 2005, determinations as to the
circumstances that will be considered a Termination (including a disability and
leave of absence) shall be made in a manner consistent with the written policies
adopted by the HRC from time to time to the extent such policies are consistent
with the requirements imposed under Code 409A(a)(2)(A)(i).

    

    2.29  “Vested” or “Earned and
Vested” means, for purposes of this Plan, that the Shares or Share Equivalents
credited to the Participant have become both objectively determinable and no
longer subject to a substantial risk of forfeiture.

    

    2.30  “2006 Distribution
Election Period” means the period or periods designated by the Committee during
which Participants (or Former Participants) are given the opportunity to select
among the distribution options set forth in Article VII, provided that any such
period shall end no later than December 31, 2006.

    

    2.31  “Key Employee means a
Participant who is classified as a “specified employee” at the time of
Termination in accordance with the policies adopted by the Committee in order to
comply with the requirements of Section 409A(a)(2)(B)(i) of the Code and the
guidance issued thereunder,

    

    

    ARTICLE
III

    

    ADMINISTRATION

    

    3.1  The
Plan shall be administered by the Committee.  The Committee shall have
full discretionary power and authority (i) to administer and interpret the terms
and conditions of the Plan and (ii) to establish reasonable procedures with
which Participants, Former Participant and beneficiaries must comply to exercise
any right or privilege established hereunder.  The rights and duties
of the Participants and all other persons and entities claiming an interest
under the Plan shall be subject to, and bound by, actions taken by or in
connection with the exercise of the powers and authority granted under this
Article.

    

    3.2  The
Committee may employ agents, attorneys, accountants, or other persons and
allocate or delegate to them powers, rights, and duties all as the Committee may
consider necessary or advisable to properly carry out the administration of the
Plan.

    

    3.3  The
Company shall maintain, or cause to be maintained, records showing the
individual balances in each Participant’s Account, including each Participant’s
Career Share Account.  Statements setting forth the value of the
amount credited to the Participant's Account shall be made available to each
Participant no less often than once per year.  The maintenance of the
Account records and the distribution of statements may be delegated to a
recordkeeper by either the Company or the Committee.

    

    

    ARTICLE
IV

    

    PARTICIPATION

    

    An Eligible Employee shall become a
Participant as of the date that the Eligible Employee is first assigned a
Minimum Stock Ownership Requirement.

    

    

    ARTICLE
V

    

    SATISFACTION
OF MINIMUM STOCK OWNERSHIP REQUIREMENT

    

    5.1  Accounts.  The
Committee shall establish and maintain an Account for each Participant that will
record the number of Shares and Share Equivalents that have been designated in
accordance with the terms of this Plan to satisfy the Minimum Stock Ownership
Requirement applicable to such Participant.

    

    5.2  Share Commitment Designated
by Participant.

    

    (a)           A
Participant may from time to time designate that certain Shares or Share
Equivalents that are owned by the Participant or otherwise credited to the
Participant be credited to the Account of such Participant.  A
Participant shall be permitted to so designate any Shares or Share Equivalents
only to the extent the following requirements have been satisfied:

    

    
      	
              (i)  

            	
              The
      Shares or Share Equivalents have been earned by the Participant, if
      applicable;

            

    

    

    
      	
              (ii)  

            	
              The
      Shares or Share Equivalents are then
Vested;

            

    

    

    
      	
              (iii)  

            	
              The
      Shares or Share Equivalents are not automatically allocated to the
      Participant’s Career Share Account pursuant to Section 5.3, below;
      and

            

    

    

    
      	
              (iv)  

            	
              The
      Shares or Share Equivalents are not encumbered, pledged or hypothecated in
      any way.

            

    

    

    (b)           Any
designation made by a Participant under this Section shall be made in writing
and in a form that is satisfactory to the Committee.

    

    5.3  Accrual of Career
Shares.

    

    (a)           Determination
Date.  For purposes of this Section 5.3, the term
“Determination Date” means

    

    
      	
               
      

            	
              (i)

            	
              the
      date that is six months prior to the end of the performance period, with
      respect to an award of Performance Shares that qualifies as
      Performance-Based Compensation and that is based on services performed
      over a period of at least 12 months;
or

            

    

    

    
      	
               
      

            	
              (ii)

            	
              except
      as otherwise specified in subsection (iii), the June 30 that falls within
      the calendar year to which Annual Incentive Compensation relates (or the
      date six months prior to the end of the performance period, with respect
      to Annual Incentive Compensation that is not based on a calendar year),
      provided that such Annual Incentive Compensation qualifies as
      Performance-Based Compensation that is based on services performed over a
      period of at least 12 months; or

            

    

    

    
      	
               
      

            	
              (iii)

            	
              to
      the extent that the awarded Performance Shares or the Annual Incentive
      Compensation are not Performance-Based Compensation that is based on
      services performed over a period of at least 12 months, or as to any
      Annual Incentive Compensation that is based on services performed over a
      period that begins on or after January 1, 2010, the later of (A) the
      December 31 immediately prior to the year in which the services on which
      the Performance Shares or Annual Incentive Compensation is based are to be
      performed, or (B) the date the Participant first became an Eligible
      Employee.

            

    

    

    (b)           Participant Has Not Satisfied
MSOR.

    

    
      	
               
      

            	
              (i)

            	
              If
      a Participant has not satisfied all applicable Minimum Stock Ownership
      Requirements on or before a Determination Date applicable to Performance
      Shares that have been awarded to such Participant, the Participant’s
      Career Share Account shall be credited with the number of Shares or Share
      Equivalents that become Earned and Vested (reduced, however, to the extent
      of any Applicable Tax Payments) for the Participant as a result of the
      award of such Performance Shares.  Notwithstanding the foregoing
      provisions of this paragraph (i), effective for Determination Dates
      occurring on or after May 1, 2008, the number of Shares or Share
      Equivalents so credited to the Participant’s Career Share Account shall be
      limited to that number needed to satisfy the Participant’s MSOR, and the
      balance, if any, of such Earned and Vested Performance Shares shall be
      administered without regard to the provisions of this Plan.  For
      this purpose, the number of Shares or Share Equivalents needed to satisfy
      the Participant’s MSOR shall be determined by reference to the highest
      MSOR that is applicable to such Participant as of the Determination Date
      with respect to such Performance
Shares:

            

    

    

    
      	
               
      

            	
              (A)

            	
              after
      taking into account

            

    

    

    
      	
               
      

            	
              (1)

            	
              Shares
      or Share Equivalents that are credited to the Participant’s Account
      pursuant to the Participant’s designation under Section 5.2 no later than
      such Determination Date;

            

    

    

    
      	
               
      

            	
              (2)

            	
              the
      Share Equivalents that are credited to the Participant’s Career Share
      Account as of such Determination Date;
and

            

    

    

    
      	
               
      

            	
              (3)

            	
              the
      Share Equivalents attributable to reinvested dividends through the date
      such Performance Shares become Earned and Vested, but only to the extent
      such reinvested dividends are attributable to the Share Equivalents that
      were credited to the Participant’s Career Share Account as of such
      Determination Date; but

            

    

    

    
      	
               
      

            	
              (B)

            	
              Disregarding
      the Share Equivalents that may be credited to such Participant’s Career
      Share Account pursuant to this subsection 5.3(b)(i) [with regard to
      Performance Shares] or subsection 5.3(b)(ii), below [with regard to Annual
      Incentive Compensation], that
either

            

    

    

    
      	
               
      

            	
              (1)

            	
              has
      a Determination Date that is after the Determination Date for such
      Performance Shares; or

            

    

    

    
      	
               
      

            	
              (2)

            	
              has
      not become Earned and Vested as of the date such Performance Shares become
      Earned and Vested.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              If
      a Participant has not satisfied all applicable Minimum Stock Ownership
      Requirements on or before a Determination Date that both is applicable to
      Annual Incentive Compensation and falls after the last day of the final
      year of the Participant’s MSOR Window Period, the Participant’s Career
      Share Account shall be credited with the number of Shares or Share
      Equivalents, as appropriate, attributable to 25% (50%, effective beginning
      January 1, 2006) of the Annual Incentive Compensation that becomes Earned
      and Vested for the Participant as a result of the approval of such Annual
      Incentive Compensation. Notwithstanding the foregoing provisions of this
      paragraph (ii), effective for Determination Dates occurring on or after
      May 1, 2008, the number of Shares or Share Equivalents so credited to the
      Participant’s Career Share Account shall be limited to the lesser of 50%
      of the Annual Incentive Compensation that becomes Earned and Vested for
      the Participant or the number needed to satisfy the Participant’s MSOR,
      and the balance, if any, of such Earned and Vested Annual Incentive
      Compensation shall be administered without regard to the provisions of
      this Plan.  For this purpose, the number of Shares or Share
      Equivalents needed to satisfy the Participant’s MSOR shall be determined
      by reference to the highest MSOR that is applicable to such Participant as
      of the Determination Date with respect to such Annual Incentive
      Compensation,

            

    

    

    
      	
               
      

            	
              (A)

            	
              after
      taking into account,

            

    

    

    
      	
               
      

            	
              (1)

            	
              The
      Shares or Share Equivalents that are credited to the Participant’s Account
      pursuant to the Participant’s designation under Section 5.2 no later than
      such Determination Date;

            

    

    

    
      	
               
      

            	
              (2)

            	
              the
      Share Equivalents that are credited to the Participant’s Career Share
      Account as of such Determination
Date;

            

    

    

    
      	
               
      

            	
              (3)

            	
              the
      Share Equivalents attributable to reinvested dividends through the date
      such Annual Incentive Compensation becomes Earned and Vested, but only to
      the extent such reinvested dividends are attributable to the Share
      Equivalents that were credited to the Participant’s Career Share Account
      as of such Determination Date; but

            

    

    

    
      	
               
      

            	
              (B)

            	
              Disregarding
      the Share Equivalents that may be credited to such Participant’s Career
      Share Account pursuant to subsection 5.3(b)(i), above [with regard to
      Performance Shares], or this subsection 5.3(b)(ii) [with regard to Annual
      Incentive Compensation], that
either

            

    

    

    
      	
               
      

            	
              (1)

            	
              has
      a Determination Date that is after the Determination Date for such Annul
      Incentive Compensation; or

            

    

    

    
      	
               
      

            	
              (2)

            	
              has
      not become Earned and Vested as of the date such Annual Incentive
      Compensation becomes Earned and
Vested.

            

    

    

    
      	
               
      

            	
              (iii)

            	
              The
      Share Equivalents that are disregarded pursuant to subparagraph
      5.3(b)(i)(B) or subparagraph 5.3(b)(ii)(B) may include those attributable
      to Performance Shares or Annual Incentive Compensation that had become
      Earned and Vested and thereupon credited to such Participant’s Career
      Share Account, and as a result, such Career Share Account may be credited
      with Share Equivalents in excess of the number actually needed to satisfy
      the highest MSOR that is applicable to such Participant as of the
      applicable Determination Date.

            

    

    

    
      	
               
      

            	
              (iv)

            	
              If
      the same Determination Date applies to more than one award of Performance
      Shares, Annual Incentive Compensation or both for a particular
      Participant, and such awards also become Earned and Vested as of the same
      date, the following priority shall be used in determining which award (or
      portion thereof) shall be credited to the Participant’s Career Share
      Account:

            

    

    

    
      	
               
      

            	
              (A)

            	
              First,
      Share Equivalents attributable to Performance Shares shall be credited
      before those attributable to Annual Incentive Compensation;
      then

            

    

    

    
      	
               
      

            	
              (B)

            	
              Share
      Equivalents attributable to awards of the same type shall be credited in
      the same order in which they were initially
  granted.

            

    

    

    
      	
               
      

            	
              (v)

            	
              A
      Participant’s Career Share Account shall be credited to the extent
      otherwise described in this Section 5.3(b) even if the Participant shall
      have satisfied all applicable MSOR or shall have ceased to remain an
      Eligible Employee during the period between the Determination Date and the
      date the Performance Shares or Annual Incentive Compensation are Earned
      and Vested.  However, if a Participant shall have no MSOR as of
      an applicable Determination Date by reason of the Participant’s having
      ceased to remain an Eligible Employee, the payment or deferral of the
      amounts that become payable to the Participant relative to Annual
      Incentive Compensation or as a result of an award of Performance Shares to
      which such Determination Date applies shall be determined in accordance
      with other plans and programs as may apply, including, for example, the
      Incentive Compensation Deferral
Plan.

            

    

    

    (c)           Participant Has Satisfied
MSOR.  If a Participant has satisfied his or her MSOR on or
before the applicable Determination Date, the payment or deferral of the amounts
that become payable to the Participant relative to Annual Incentive Compensation
or as a result of an award of Performance Shares shall be determined in
accordance with other plans and programs as may apply, including, for example,
the Incentive Compensation Deferral Plan.

    

    5.4  Holding Requirement For
Exercised Stock Options.  If a Participant has not satisfied
the applicable MSOR on or before the close of the related MSOR Window Period,
then, the Participant shall be required to retain until Termination all Shares
acquired through stock options exercised by the Participant between the date
immediately following the close of such MSOR Window Period until the date the
Participant has satisfied such MSOR; provided, however, the Participant shall be
permitted to cause the sale of such Shares as would allow the Participant to
cover the costs and applicable taxes directly associated with such
exercises.  However, the retention requirement set forth in this
Section 5.4 shall not apply once and so long as the Participant has no MSOR by
reason of the Participant’s having ceased to remain an Eligible
Employee.

    

    

    ARTICLE
VI

    

    CAREER
SHARE ACCOUNT

    DIVIDENDS
AND ADJUSTMENTS

    

    6.1  Reinvestment of
Dividends.  Effective on each dividend payment date with
respect to the Common Stock, the Career Share Account of a Participant shall be
credited with an additional number of whole and fractional Share Equivalents,
computed to three decimal places, equal to the product of the dividend per share
then payable, multiplied by the number of Share Equivalents then credited to
such Career Share Account, divided by the Market Value on the dividend payment
date.

    

    6.2  Adjustments.  The
number of Share Equivalents credited to a Participant’s Career Share Account
shall be appropriately adjusted for any change in the Common Stock by reason of
any merger, reclassification, consolidation, recapitalization, stock dividend,
stock split or any similar change affecting the Common Stock.

    

    

    ARTICLE
VII

    

    CAREER
SHARE ACCOUNT

    DISTRIBUTIONS

    

    7.1  Upon a Participant’s
Termination for any reason, the Company shall cause the Participant to be paid
the full amount credited to his or her Career Share Account in accordance with
the following rules:

    

    (a)           Medium of
Payment.  Effective beginning June 1, 2008, Payments shall be
made in cash; provided that effective prior to June 1, 2008, payments had been
permitted in cash, shares of Common Stock, or a combination of both as elected
by the Participant on a form that is acceptable to the Company and submitted
within a reasonable period of time before the distribution was scheduled to
commence.  Cash payments of Career Shares shall be calculated on the
basis of the average of the Fair Market Value of the Common Stock for the last
20 trading days prior to the applicable distribution date (i.e., the
Participant’s date of Termination, deferred distribution date, respective
installment payment dates or the date of the Participant’s death, as the case
may be).

    

    (b)           Timing and Form of
Distribution.  Except as otherwise provided in Section 7.2, the
following rules shall apply with regard to the timing and form of the
distributions to be made from the Participant’s Career Share
Account:

    

    
      	
               
      

            	
              (1)

            	
              Form of
      Distribution.  The Company shall cause the Participant to
      be paid the full amount credited to his or her Active Career Share Account
      in accordance with his or her effective election in one of the following
      forms:

            

    

    

    
      	
               
      

            	
              (A)

            	
              A
      single lump sum distribution

            

    

    

    
      	
               
      

            	
              (i)

            	
              as
      of the First Date Available; or

            

    

    

    
      	
               
      

            	
              (ii)

            	
              as
      of the Next Date Available; or

            

    

    

    
      	
               
      

            	
              (iii)

            	
              as
      of the fifth anniversary of the First Date Available;
  or

            

    

    

    
      	
               
      

            	
              (iv)

            	
              as
      of the fifth anniversary of the Next Date Available;
  or

            

    

    

    
      	
               
      

            	
              (B)

            	
              In
      five (5) annual installments
commencing

            

    

    

    
      	
               
      

            	
              (i)

            	
              as
      of the First Date Available; or

            

    

    

    
      	
               
      

            	
              (ii)

            	
              as
      of the Next Date Available; or

            

    

    

    
      	
               
      

            	
              (iii)

            	
              as
      of the fifth anniversary of the First Date Available;
  or

            

    

    

    
      	
               
      

            	
              (iv)

            	
              as
      of the fifth anniversary of the Next Date Available;
  or

            

    

    

    
      	
               
      

            	
              (C)

            	
              In
      ten (10) annual installments
commencing.

            

    

    

    
      	
               
      

            	
              (i)

            	
              as
      of the First Date Available; or

            

    

    

    
      	
               
      

            	
              (ii)

            	
              as
      of the Next Date Available.

            

    

    

    
      	
               
      

            	
              (2)

            	
              Effective
      Election.  For this purpose, a Participant’s election
      with respect to the distribution of his or her Career Share Account shall
      not be effective unless all of the following requirements are
      satisfied.

            

    

    

    
      	
               
      

            	
              (A)

            	
              The
      election is submitted to the Company in writing in a form determined by
      the Committee to be acceptable;

            

    

    

    
      	
               
      

            	
              (B)

            	
              The
      election is submitted timely.  For purposes of this paragraph, a
      distribution election will be considered “timely” only if it is submitted
      prior to the Participant’s Termination and it satisfies the requirements
      of (i), (ii) or (iii), below, as may be
  applicable:

            

    

    

    
      	
               
      

            	
              (i)

            	
              Submitted
      no later than the first Determination Date after June 30, 2006 with
      respect to a Participant who had neither a 12/10/2003 Performance Share
      Award nor any amount credited to his Career Share Account as of June 30,
      2006; or

            

    

    

    
      	
               
      

            	
              (ii)

            	
              Submitted
      during a 2006 Distribution Election Period that is applicable to the
      Participant, but only with regard to the distribution election form last
      submitted by such Participant before the expiration of that period;
      or

            

    

    

    
      	
               
      

            	
              (iii)

            	
              If
      the Participant is submitting the election to change the timing or form of
      distribution that is then in effect with respect to the Participant’s
      Career Share Account other than an effective distribution election
      submitted as part of the 2006 Distribution Election Period, such election
      must be submitted at least one year prior to the date of the Participant’s
      Termination.

            

    

    

    
      	
               
      

            	
              (C)

            	
              If
      the Participant is submitting the election pursuant to paragraph
      (b)(2)(B)(iii) to change the timing or form of distribution that is then
      in effect with respect to the Participant’s Career Share Account (i.e.,
      the Participant is not submitting an election with his initial applicable
      Determination Date [(B)(i)] nor during the applicable 2006 Distribution
      Election Period [(B)(ii)], the newly selected option must result in the
      further deferral of the first scheduled payment by at least 5
      years.  For purposes of compliance with the rule set forth in
      Section 409A(a) of the Code (and the regulations issued thereunder), each
      distribution option described in Section 7.1(b)(1) shall be treated as a
      single payment as of the first scheduled payment
  date.

            

    

    

    
      	
               
      

            	
              (D)

            	
              If
      the Participant is submitting the election pursuant to paragraph
      (b)(2)(B)(ii) to change the timing or form of distribution that is then in
      effect with respect to the Participant’s Career Share Account, the newly
      selected option may not defer payments that the Participant would have
      received in 2006 if not for the new distribution election nor cause
      payments to be made in 2006 if not for the new distribution
      election.

            

    

    

    
      	
               
      

            	
              (3)

            	
              For
      purposes of this Section 7.1(b), if a Participant’s effective distribution
      election form was submitted using the options that had been made available
      under the Plan as in effect prior to January 1, 2005 [i.e., as either (A)
      a single lump-sum payment, or in annual installment payments over not less
      than two nor more than ten years; (B) commencing within 60 days after the
      date of the Participant’s Termination or the first, second, third, fourth
      or fifth anniversary of the Participant’s Termination],
    then:

            

    

    

    
      	
               
      

            	
              (A)

            	
              If
      the Participant’s Termination occurs prior to the expiration of the 2006
      Distribution Election Period last applicable to the Participant, the
      Participant’s effective distribution election form shall be given full
      effect.  Solely for purposes of this paragraph (3)(A), a
      participant’s distribution election form shall be considered effective
      notwithstanding the requirement of Section 7.1(b)(2)(B)(iii) (which
      requires that a form be submitted at least one year prior to the date of
      the Participant’s Termination), provided that such form had become
      effective prior to the Participant’s Termination in accordance with the
      terms applicable to such election form at the time it was submitted by the
      Participant; and

            

    

    

    
      	
               
      

            	
              (B)

            	
              If
      the Participant’s Termination occurs after the expiration of the last
      applicable 2006 Distribution Election Period, the Participant shall be
      considered to have elected the corresponding option as set forth in
      Schedule A attached to this Plan.

            

    

    

    
      	
               
      

            	
              (4)

            	
              If
      the provisions of Section 7.1(b)(3) are not applicable to a Participant
      and the Participant fails to submit an effective distribution election
      with regard to his Career Share Account that satisfies the requirements of
      Section 7.1(b)(2)(B)(i) (by his initial applicable Determination Date) or
      Section 7.1(b)(2)(B)(ii) (during an applicable 2006 Distribution Election
      Period), as applicable, by such Determination Date or the last day of the
      2006 Distribution Election Period, respectively, such Participant shall be
      considered to have elected a distribution of his or her Career Share
      Account in a single lump sum as of the First Date
    Available.

            

    

    

    
      	
               
      

            	
              (5)

            	
              If
      an annual installment option is selected, the amount to be distributed in
      any one-year shall be determined by dividing the Participant’s Career
      Share Account Balance by the number of years remaining in the elected
      distribution period.

            

    

    

    7.2           Events Affecting Timing or
Amount of Distributions.

    

    (a)           “Election” To Accelerate Payment of
Career Shares Attributable to 12/10/2003 Performance Share
Award.  Notwithstanding any provision of Section 7.1 to the
contrary, if a Participant had not satisfied his or her MSOR on or before June
30, 2004 (the Determination Date applicable to the 12/10/2003 Performance Share
Awards), but as of June 30, 2006 either (i) does satisfy his or her applicable
MSOR(s) or (ii) has no applicable MSOR because the participant is longer an
Eligible Employee, the Participant will be deemed to have elected as of June 30,
2006 a lump sum payment with respect to the Share or Share Equivalents that
would have been credited to the Participant’s Career Share Account as a result
of the 12/10/2003 Performance Share Award.  Such payment shall be made
as of the date that the 12/10/2003 Performance Share Awards otherwise would have
become payable if the Participant were not a participant in this
Plan.

    

    (b)           Special
Considerations.  Notwithstanding any provision of this Article
to the contrary,

    

    
      	
               
      

            	
              (1)

            	
              Limited Cashout
      - if the Participant’s Career Share Account is $10,000 or less on the
      Participant’s First Date Available (or, if the Participant is not a Key
      Employee, on the last day of the month coincident with or next following
      the date that is one (1) month after the date of the Participant’s
      Termination) (called the “Cashout Date”), the Committee may require that
      the full value of the Participant’s Career Share Account be distributed as
      of the Cashout Date in a single, lump sum distribution regardless of the
      form elected by such Participant, provided that such payment is consistent
      with the limited cash-out right described in Treasury Regulation Section
      1.409A-3(j)(4)(v) or other guidance of the Code in that the payment
      results in the termination and liquidation of the entirety of the
      Participant’s interest under each nonqualified deferred compensation plan
      (including all agreements, methods, programs, or other arrangements with
      respect to which deferrals of compensation are treated as having been
      deferred under a single nonqualified deferred compensation plan under
      Treasury Regulation 1.409A-1(c)(2) or other guidance of the Code) that is
      associated with this Plan; and the total payment with respect to any such
      single nonqualified deferred compensation plan is not greater than the
      applicable dollar amount under Code Section
      402(g)(1)(B).  Provided,
however,

            

    

    

    
      	
               
      

            	
              (2)

            	
              Avoid
      Violations - payment to a Participant will be delayed at any time
      that the Company reasonably anticipates that the making of such payment
      will violate Federal securities laws or other applicable law; provided
      however, that any payments so delayed shall be paid at the earliest date
      at which the Company reasonably anticipates that the making of such
      payment will not cause such
violation.

            

    

    

    

    ARTICLE
VIII

    

    BENEFICIARIES

    

    8.1  Each Participant may
designate a beneficiary or beneficiaries who shall receive the balance of the
Participant's Career Share Account if the Participant dies prior to the complete
distribution of the Participant's Career Share Account.  Any
designation, or change or rescission of a beneficiary designation shall be made
by the Participant’s completion, signature and submission to the Committee of
the appropriate beneficiary form prescribed by the Committee.  A
beneficiary form shall take effect as of the date the form is signed provided
that the Committee receives it before taking any action or making any payment to
another beneficiary named in accordance with this Plan and any procedures
implemented by the Committee.  If any payment is made or other action
is taken before a beneficiary form is received by the Committee, any changes
made on a form received thereafter will not be given any effect.  If a
Participant fails to designate a beneficiary, or if all beneficiaries named by
the Participant do not survive the Participant, the Participant’s Career Share
Account will be paid to the Participant’s estate.  Unless clearly
specified otherwise in an applicable court order presented to the Committee
prior to the Participant’s death, the designation of a Participant’s spouse as a
beneficiary shall be considered automatically revoked as to that spouse upon the
legal termination of the Participant’s marriage to that spouse.

    

    8.2  Distribution
to a Participant’s beneficiary shall be in the form of a single lump-sum payment
within 60 days after the Committee makes a final determination as to the
beneficiary or beneficiaries entitled to receive such distribution.

    

    

    ARTICLE
IX

    

    CLAIMS
PROCEDURE

    

    9.1  The following procedures
shall apply with respect to claims for benefits under the Plan.

    

    (a)           Any
Participant or beneficiary who believes he or she is entitled to receive a
distribution under the Plan which he or she did not receive or that amounts
credited to his or her Account are inaccurate, may file a written claim signed
by the Participant, beneficiary or authorized representative with the Claims
Reviewer, specifying the basis for the claim.  The Claims Reviewer
shall provide a claimant with written or electronic notification of its
determination on the claim within ninety days after such claim was filed;
provided, however, if the Claims Reviewer determines special circumstances
require an extension of time for processing the claim, the claimant shall
receive within the initial ninety-day period a written notice of the extension
for a period of up to ninety days from the end of the initial ninety day
period.  The extension notice shall indicate the special circumstances
requiring the extension and the date by which the Plan expects to render the
benefit determination.

    

    (b)           If
the Claims Reviewer renders an adverse benefit determination under Section
8.1(a), the notification to the claimant shall set forth, in a manner calculated
to be understood by the claimant:

    

    
      	
               
      

            	
              (1)

            	
              The
      specific reasons for the denial of the
claim;

            

    

    

    
      	
               
      

            	
              (2)

            	
              Specific
      reference to the provisions of the Plan upon which the denial of the claim
      was based;

            

    

    

    
      	
               
      

            	
              (3)

            	
              A
      description of any additional material or information necessary for the
      claimant to perfect the claim and an explanation of why such material or
      information is necessary, and

            

    

    

    
      	
               
      

            	
              (4)

            	
              An
      explanation of the review procedure specified in Section 9.2, and the time
      limits applicable to such procedures, including a statement of the
      claimant’s right to bring a civil action under section 502(a) of the
      Employee Retirement Income Security Act of 1974, as amended, following an
      adverse benefit determination on
review.

            

    

    

    9.2  The following procedures
shall apply with respect to the review on appeal of an adverse determination on
a claim for benefits under the Plan.

    

    (a)           Within
sixty days after the receipt by the claimant of an adverse benefit
determination, the claimant may appeal such denial by filing with the Committee
a written request for a review of the claim.  If such an appeal is
filed within the sixty day period, the Committee, or a duly appointed
representative of the Committee, shall conduct a full and fair review of such
claim that takes into account all comments, documents, records and other
information submitted by the claimant relating to the claim, without regard to
whether such information was submitted or considered in the initial benefit
determination.  The claimant shall be entitled to submit written
comments, documents, records and other information relating to the claim for
benefits and shall be provided, upon request and free of charge, reasonable
access to, and copies of all documents, records and other information relevant
to the claimant’s claim for benefits.  If the claimant requests a
hearing on the claim and the Committee concludes such a hearing is advisable and
schedules such a hearing, the claimant shall have the opportunity to present the
claimant’s case in person or by an authorized representative at such
hearing.

    

    (b)           The
claimant shall be notified of the Committee’s benefit determination on review
within sixty days after receipt of the claimant’s request for review, unless the
Committee determines that special circumstances require an extension of time for
processing the review.  If the Committee determines that such an
extension is required, written notice of the extension shall be furnished to the
claimant within the initial sixty-day period.  Any such extension
shall not exceed a period of sixty days from the end of the initial period. The
extension notice shall indicate the special circumstances requiring the
extension and the date by which the Committee expects to render the benefit
determination.

    

    (c)           The
Committee shall provide a claimant with written or electronic notification of
the Plan’s benefit determination on review.  The determination of the
Committee shall be final and binding on all interested parties.  Any
adverse benefit determination on review shall set forth, in a manner calculated
to be understood by the claimant:

    

    
      	
               
      

            	
              (1)

            	
              The
      specific reason(s) for the adverse
  determination;

            

    

    

    
      	
               
      

            	
              (2)

            	
              Reference
      to the specific provisions of the Plan on which the determination was
      based;

            

    

    

    
      	
               
      

            	
              (3)

            	
              A
      statement that the claimant is entitled to receive, upon request and free
      of charge, reasonable access to, and copies of, all documents, records and
      other information relevant to the claimant’s claim for benefits;
      and

            

    

    

    
      	
               
      

            	
              (4)

            	
              A
      statement of the claimant’s right to bring an action under Section 502(a)
      of ERISA.

            

    

    

    

    ARTICLE
X

    

    MISCELLANEOUS
PROVISIONS

    

    10.1  Each Participant agrees
that as a condition of participation in the Plan, the Company may withhold
applicable federal, state and local taxes, Social Security taxes and Medicare
taxes from any deferral and distribution hereunder to the extent that such taxes
are then payable.

    

    10.2  In the event the
Committee, in its sole discretion, shall find that a Participant or beneficiary
is unable to care for his or her affairs because of illness or accident, the
Committee may direct that any payment due the Participant or the beneficiary be
paid to the duly appointed personal representative of the Participant or
beneficiary, and any such payment so made shall be a complete discharge of the
liabilities of the Plan and the Company with respect to such Participant or
beneficiary.

    

    10.3  The Company intends to
continue the Plan indefinitely but reserves the right, in its sole discretion,
to modify the Plan from time to time, or to terminate the Plan entirely or to
direct the permanent discontinuance or temporary suspension of deferral
contributions under the Plan; provided that no such modification, termination,
discontinuance or suspension shall reduce the benefits accrued for the benefit
of any Participant or beneficiary under the Plan as of the date of such
modification, termination, discontinuance or suspension.

    

    10.4  Nothing in the Plan
shall interfere with or limit in any way the right of AEP to terminate any
Participant’s employment at any time, or confer upon a Participant any right to
continue in the employ of AEP.

    

    10.5  The Company intends the
following with respect to this Plan: (1) Section 451(a) of the Code would apply
to the Participant's recognition of gross income as a result of participation
herein; (2) the Participants will not recognize gross income as a result of
participation in the Plan unless and until and then only to the extent that
distributions are received; (3) the Company will not receive a deduction for
amount credited to any Account unless and until and then only to the extent that
amounts are actually distributed; (4) the provisions of Parts 2, 3, and 4 of
Subtitle B of Title I of ERISA shall not be applicable; and (5) the design and
administration of the Plan are intended to comply with the requirements of
Section 409A of the Code, to the extent such section is effective and applicable
to amounts deferred hereunder.  However, no Eligible Employee,
Participant, beneficiary or any other person shall have any recourse against the
Corporation, the Company, the Committee or any of their affiliates, employees,
agents, successors, assigns or other representatives if any of those conditions
are determined not to be satisfied.

    

    10.6  The
Plan shall be construed and administered according to the applicable provisions
of ERISA and the laws of the State of Ohio.

    

    10.7  Neither
a Participant nor any other person shall have any right to sell, assign,
transfer, pledge, mortgage or otherwise encumber, transfer, alienate or convey
in advance of actual receipt, the amounts, if any, payable under this
Plan.  Such amounts payable, or any part thereof, and all rights to
such amounts payable are not assignable and are not transferable.  No
part of the amounts payable shall, prior to actual payment, be subject to
seizure, attachment, garnishment or sequestration for the payment of any debts,
judgments, alimony or separate maintenance owed by a Participant or any other
person.  Additionally, no part of any amounts payable shall, prior to
actual payment, be transferable by operation of law in the event of a
Participant’s or any other person’s bankruptcy or insolvency or be transferable
to a spouse as a result of a property settlement or otherwise, except that if
necessary to comply with a “qualified domestic relations order,” as defined in
ERISA Section 206(d), pursuant to which a court has determined that a spouse or
former spouse of a Participant has an interest in the Participant’s benefits
under the Plan, the Committee shall distribute the spouse’s or former spouse’s
interest in the Participant’s benefits under the Plan to such spouse or former
spouse in accordance with the Participant’s election under this Plan as to the
time and form of payment.

    

    

    American
Electric Power Service Corporation has caused this amendment and restatement of
the American Electric Power System Stock Ownership Requirement Plan to be signed
as of this ___ day of December, 2009.

    

    

    

    
      	 
      	
              AMERICAN
      ELECTRIC POWER SERVICE CORPORATION

            
	 
      	 
      
	 
      	 
      
	 
      	
              By /s/ Genevieve A.
  Tuchow

            

    

    
      	
               
      

            	
              Genevieve
      A. Tuchow

            

    

    
      	
               
      

            	
               Vice
      President, Human Resources

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