Document:

Exhibit 10.3

	 	 	 	 	 

Exhibit 10.3

RRI ENERGY, INC.

2002 LONG-TERM INCENTIVE PLAN

ANNUAL AWARD AGREEMENT

Pursuant to this Award Agreement, as of «Date», RRI Energy, Inc. (the “Company”)
hereby grants to «Director» (the “Participant”), a Director of the Company, «Shares» shares of
Restricted Stock. Such number of shares are subject to adjustment as provided in Section 15 of the
RRI Energy, Inc. 2002 Long-Term Incentive Plan (the “Plan”), subject to the terms, conditions and
restrictions described in the Plan and in this Agreement.

	1.	 	Relationship to the Plan. This grant of Restricted Stock is subject to all of the terms,
conditions and provisions of the Plan and administrative interpretations thereunder, if any,
which have been adopted by the Committee and are in effect on this date. Except as defined
herein, capitalized terms have the same meanings as under the Plan. If any provision of this
Award Agreement conflicts with the express terms of the Plan, the terms of the Plan control
and, if necessary, the applicable provisions of this Award Agreement are deemed amended so as
to carry out the purpose and intent of the Plan. References to the Participant also include
the heirs or other legal representatives of the Participant or the Participant’s estate.

	2.	 	Restrictions. The Restricted Stock granted under this Agreement may not be sold, assigned,
transferred, pledged or otherwise encumbered until the restrictions have lapsed (“Restriction
Period”) except as otherwise provided in this Section 2. Notwithstanding anything herein or
in the Plan to the contrary, the shares of Restricted Stock are transferable by the
Participant to Immediate Family Members, Immediate Family Member Trusts, and Immediate Family
Member Partnerships pursuant to Section 14 of the Plan.

	3.	 	Vesting and Forfeiture.

	 	(a)	 	The Restricted Stock vests as of the earlier of (i) the last day of the
Director’s current term or (ii) «Date» (“Vesting Date”), provided the Participant does
not terminate service, except as otherwise provided in this Section 3, before the
Vesting Date.

	 	(b)	 	If the Participant’s service as a Director is terminated due to death or
Disability, the Restricted Stock vests at the time of such termination to the extent
not previously vested pursuant to this Section 3. For purposes of this Award
Agreement, “Disability” means a physical or mental impairment of sufficient severity
such that the Participant can no longer serve as a Director.

	 	(c)	 	If the Participant terminates service on the Board for any reason other than
death or Disability, the Restricted Stock granted during the term during which the
Participant terminates service will be forfeited in its entirety immediately after
such termination.

 

 

 

	4.	 	Rights as a Stockholder. Except as otherwise specifically provided in this Award Agreement
and the Plan, during the Restriction Period the Participant shall have all the rights of a
stockholder with respect to the Restricted Stock including, without limitation, the right to
vote the Restricted Stock and the right to receive any dividends with respect thereto.

	5.	 	Change in Control. Notwithstanding anything herein to the contrary, upon any Change of
Control the Restricted Stock will vest to the extent not previously vested.

	6.	 	Notices. For purposes of this Award Agreement, notices and all other communications must be
in writing and will be deemed to have been given when personally delivered or when mailed by
United States registered or certified mail, return receipt requested, postage prepaid,
addressed as follows:

	 	 	 	 	 
	 

	 	If to Company:
	 	RRI Energy, Inc.

1000 Main Street

Houston, Texas 77002

ATTENTION: Corporate Secretary
	 
	 	 	 	 
	 

	 	If to Director:
	 	«Director»

c/o Corporate Secretary

RRI Energy, Inc.

1000 Main Street

Houston, Texas 77002

or to such other address as either party may furnish to the other in writing in accordance
with this Section 6.

	7.	 	Successors and Assigns. This Award Agreement is binding upon and inures to the benefit of
the Participant, the Company and their respective permitted successors and assigns.

	 	 	 	 	 
	 

	 	 

Mark M. Jacobs

President and Chief Executive Officer
	 	 

 

-2-Exhibit 10.4

Exhibit 10.4

RRI ENERGY, INC.

2002 LONG-TERM INCENTIVE PLAN

QUARTERLY COMMON STOCK AND PREMIUM RESTRICTED STOCK AWARD

Pursuant to this Award Agreement, as of «Date», RRI Energy, Inc. (the “Company”)
hereby grants to «Director» (the “Participant”), a Director of the Company, «Shares» shares of
Common Stock, in lieu of fees otherwise payable to the Participant for services as a Director for
the period from «Date» through «Date» plus an additional «Premium» premium restricted shares of
Common Stock (“Premium Restricted Stock”). Such number of shares are subject to adjustment as
provided in Section 15 of the RRI Energy, Inc. 2002 Long-Term Incentive Plan (the “Plan”), subject
to the terms, conditions and restrictions described in the Plan and in this Agreement.

	1.	 	Relationship to the Plan. This grant of Common Stock and Premium Restricted Stock is subject
to all of the terms, conditions and provisions of the Plan and administrative interpretations
thereunder, if any, which have been adopted by the Committee and are in effect on this date.
Except as defined herein, capitalized terms have the same meanings as under the Plan. If any
provision of this Award Agreement conflicts with the express terms of the Plan, the terms of
the Plan control and, if necessary, the applicable provisions of this Award Agreement are
deemed amended so as to carry out the purpose and intent of the Plan. References to the
Participant also include the heirs or other legal representatives of the Participant or the
Participant’s estate.

	2.	 	Restrictions. The Premium Restricted Stock granted under this Agreement may not be sold,
assigned, transferred, pledged or otherwise encumbered until the restrictions have lapsed
(“Restriction Period”) except as otherwise provided in this Section 2. Notwithstanding
anything herein or in the Plan to the contrary, the shares of Premium Restricted Stock are
transferable by the Participant to Immediate Family Members, Immediate Family Member Trusts,
and Immediate Family Member Partnerships pursuant to Section 14 of the Plan.

	3.	 	Vesting and Forfeiture.

	 	(a)	 	The Common Stock granted herein is fully vested and transferable as of the
date granted.

	 	(b)	 	The Premium Restricted Stock vests as of the earlier of (i) the last day of
the Director’s current term or (ii) «Date» (“Vesting Date”), provided the Participant
does not terminate service, except as otherwise provided in this Section 3, before the
Vesting Date.

	 	(c)	 	If the Participant’s service as a Director is terminated due to death or
Disability, Participant’s right to receive Premium Restricted Stock vests at the time
of such termination to the extent not previously vested pursuant to this Section 3.
For purposes of this Award Agreement, “Disability” means a physical or mental
impairment of sufficient severity such that the Participant can no longer serve as a
Director.

	 	(d)	 	If the Participant terminates service on the Board for any reason other than
death or Disability, the Participant’s right to receive Premium Restricted Stock
granted during the term during which the Participant terminates service will be
forfeited in its entirety immediately after such termination.

 

 

 

	4.	 	Rights as a Stockholder. Except as otherwise specifically provided in this Award Agreement
and the Plan, during the Restriction Period the Participant shall have all the rights of a
stockholder with respect to the Premium Restricted Stock including, without limitation, the
right to vote the Premium Restricted Stock and the right to receive any dividends with respect
thereto.

	5.	 	Cash Payment Upon a Change of Control. Notwithstanding anything herein to the contrary, upon
or immediately prior to the occurrence of any Change of Control of the Company, Participant’s
right to receive Premium Restricted Stock shall be settled by a cash payment to Participant
equal to the product of (i) the Fair Market Value per share of Common Stock on the date
immediately preceding the date on which the Change of Control occurs and (ii) the total number
of shares of Premium Restricted Stock granted. Such cash payment shall satisfy the rights of
Participant and the obligations of the Company under this Award Agreement in full.

	6.	 	Notices. For purposes of this Award Agreement, notices and all other communications must be
in writing and will be deemed to have been given when personally delivered or when mailed by
United States registered or certified mail, return receipt requested, postage prepaid,
addressed as follows:

	 	 	 	 	 
	 

	 	If to Company:
	 	RRI Energy, Inc.

1000 Main Street

Houston, Texas 77002

ATTENTION:

Corporate Secretary
	 
	 	 	 	 
	 

	 	If to Director:
	 	«Director»

c/o Corporate Secretary

RRI Energy, Inc.

1000 Main Street

Houston, Texas 77002

or to such other address as either party may furnish to the other in writing in accordance
with this Section 6.

	7.	 	Successors and Assigns. This Award Agreement is binding upon and inures to the benefit of
the Participant, the Company and their respective permitted successors and assigns.

	 	 	 	 	 
	 

	 	 

Mark M. Jacobs

President and Chief Executive Officer
	 	 

 

-2-Exhibit 10.5

Exhibit 10.5

SUMMARY SCHEDULE OF NON-EMPLOYEE DIRECTORS’ COMPENSATION

Effective June 19, 2009

Annual Retainers

	 	•	 	Non-Employee Chairman: $ 145,000

	 	•	 	Non-Employee Directors other than the Chairman: $45,000

	 	•	 	Audit Committee Members: $10,000

	 	•	 	Nominating & Governance Committee Members: $5,000

	 	•	 	Compensation Committee Members: $5,000

	 	•	 	Risk and Finance Oversight Committee Members: $5,000

	 	•	 	Special Committee Chairman approximately: $25,000

Fees for Meeting Attendance

	 	•	 	Board Meetings: $2,000 per meeting

	 	•	 	Committee Meetings: $2,000 per meeting

Except for the Non-Employee Chairman’s annual retainer, directors may choose to be paid their
annual retainers and meeting fees in one or both of the following forms:

	 	•	 	Cash

	 	•	 	Common Stock

Each director completes a written election before the beginning of each calendar year specifying
the types and percentages of compensation to be paid in each form of payment. If a director
chooses to be paid in common stock, the director receives a 25 percent premium in restricted stock
with voting and dividend rights which vests and the restrictions are removed on the vesting date of
the immediately preceding annual grant.

The Non-Employee Chairman may choose to be paid his annual retainer in cash or common stock by
completing a written election but will not be entitled to a 25 percent premium if he chooses common
stock.

Equity Compensation 

	 	•	 	Annual grant of 6,000 shares of restricted stock with voting and dividend rights. The
 shares vest and the restrictions are removed on the earlier of the end of the director’s
current term or the one-year anniversary of the grant date.

	 	•	 	Initial grant of 5,000 shares of restricted stock which vests and the restrictions are
removed on the vesting date of the immediately preceding annual grant.

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