Document:

2011 Ameren Executive Incentive Plan

 Exhibit 10.1 

 

 

 2011 AMEREN EXECUTIVE INCENTIVE PLAN FOR OFFICERS 

SUMMARY 
 The Ameren Executive Incentive
Plan (EIP) is intended to reward eligible Officers for their contributions to Ameren’s success. The EIP rewards Officers for Ameren’s earnings per share (EPS) results and individual performance. The EIP is approved by the Human Resources
Committee of Ameren’s Board of Directors (“Committee”). Ameren reserves the right at its sole discretion to revise, modify, continue or discontinue the EIP beyond the current plan year. 

EIP ELIGIBILITY 
 All
Officers who are actively employed on December 31, 2011 are eligible to participate in the EIP pursuant to the terms described herein. Additionally, Officers who terminate employment because they retire, die, become disabled during 2011 (the
plan year), or whose employment is involuntarily terminated during the plan year as a result of a reduction in force, elimination of position, or change in strategic demand, are eligible to participate in the EIP pursuant to the terms described
herein. Officers who voluntarily or involuntarily terminate employment for any other reason than those reasons described in the prior sentence during the plan year or following the plan year but before awards are paid, forfeit participation in the
EIP. 
 AWARD OPPORTUNITIES 
 Award opportunity percentages are set by the Human Resources Committee of the Board of Directors. Officers will receive individual communication regarding their incentive target opportunity. 

PLAN STRUCTURE 
 The EIP is designed to
reward Officers for their contributions to Ameren’s success. This is accomplished by rewarding Officers for the achievement of EPS goals and their own personal contributions to Ameren’s performance. The EIP has four primary components:
(1) EPS targets; (2) a base award; (3) an individual performance modifier; and (4) an individual incentive payout. These components are described in more detail below. 

 

 

 EPS Targets 
 Ameren Officers have a responsibility to drive shareholder value through earnings performance. Thus, EPS performance is the primary metric used to establish award opportunities. 

  

 

 

 Three levels of EPS achievement will be established to reward eligible Officers for results achieved in EPS
performance. Achievement of EPS falling between the established levels will be interpolated. The three levels are defined as follows: 
  

	 	1.	Threshold: Threshold is the minimum level of Ameren EPS achievement necessary for incentive funds to be available. This level of EPS must be
achieved to justify the payment based on our fiduciary responsibility to our owners— the shareholders. 

  

	 	2.	Target: This is the targeted level of Ameren EPS achievement. 

 

	 	3.	Maximum: This level shares higher rewards in years of outstanding financial performance. This level will be very difficult to achieve, but in years
of outstanding performance, Officers will share in Ameren’s success. 

 Base Award 

Following the conclusion of the plan year, Ameren’s EPS will be measured . Achievement levels may be adjusted to include or exclude specified items
of an unusual or non-recurring nature as determined by the Committee at its sole discretion and as permitted by the Ameren Corporation 2006 Omnibus Incentive Compensation Plan (“Plan”). Using these performance results, a formulaic base
award will be determined for each Officer. This base award will then be subject to modification based on the Officer’s individual performance as described below. 
 Individual Performance Modifier 
 The base award for each Officer may be adjusted up
by as much as 50% or down by as much as 50%, based on the Officer’s individual contributions and performance during the plan year. Demonstrated leadership and the achievement of key operational goals will be considered when modifying the base
award for each Officer. 
 Individual Incentive Payout 
 The individual incentive payout represents the actual incentive award an Officer will receive as a result of both Ameren’s performance and the Officer’s own individual performance. Subject to
the terms described herein, the maximum payout under the EIP is 200% of the Officer’s target incentive opportunity with the ability to pay zero for poor or non-performance. 
 EIP PAYOUT 
 Awards will be paid by March 15, 2012. 

Job Changes During Plan Year 
 Awards
will be prorated in situations where an Officer’s salary (excluding merit increases), incentive target opportunity, performance metric and/or plan eligibility changes during the plan year. In such situations, the Officer’s base award will
be prorated based on the Officer’s salary, incentive target opportunity, performance metric and plan eligibility for each respective time period during the plan year. In the case of a merit increase, the new salary will be used to calculate the
employee’s base award. 
 Partial Year Plan Participation 
 The base award will be calculated based on an eligible Officer’s salary as of December 31, 2011 (or at the time of eligible termination, if earlier). Awards will be prorated based on the amount
of time worked during the plan year for eligible Officers who: (1) are hired or become Officers after the plan year begins; (2) terminate employment on account of retirement, disability or death during the plan year; or (3) are
involuntarily terminated during the plan year as a result of a reduction in force, elimination of position, or change in strategic demand. 

  

 

 

 Where an eligible Officer’s employment is terminated during the plan year as a result of a reduction in
force, elimination of position, or change in strategic demand, the Officer’s prorated award will be paid by March 15, 2012, assuming the eligible Officer signed and returned the Company’s approved general release and waiver (within 45
days of termination). In such cases, the prorated award will be based on the Officer’s salary at the time of termination, the Officer’s target incentive award opportunity and actual year-end EPS performance. 

The Committee will review and has the authority to approve the final amount of payment. The final payment granted is final and conclusive and not
subject to review. 
 CONTACT 
 Questions regarding this plan may be directed to the Manager, Compensation & Talent Acquisition at 314-554-2049. 
 ADMINISTRATION 
 This EIP and the employee’s rights hereunder are subject to all the
terms and conditions of the Plan, as the same may be amended from time to time, as well as to such rules and regulations as the Committee or its designee may adopt for administration of the Plan. The Committee, or its designee, is authorized to
administer, construe and make all determinations necessary or appropriate to the administration of this EIP, all of which will be binding upon participants. If any provision of this EIP conflicts in any manner with the Plan, the terms of the Plan
shall control. 
 MISCELLANEOUS 

No employee shall have any claim or right to receive an award under this EIP. Neither this EIP nor any action taken hereunder shall be construed as giving
an employee any right to be retained by Ameren Corporation or any of its subsidiaries. For purposes of this EIP, the transfer of employment by an employee between subsidiaries shall not be deemed a termination of the employee’s employment.Form of Performance Share Unit Award Agreement

 Exhibit 10.2 

 

					
		 	 Performance Share Unit

Award Agreement
  
 Ameren Corporation
  

2006 Omnibus Incentive Compensation Plan
  

January 1, 2011
	 	

 Ameren Corporation 
 Performance Share Unit Award Agreement 
 THIS AGREEMENT, effective
January 1, 2011, represents the grant of Performance Share Units by Ameren Corporation (the “Company”), to the Participant named below, pursuant to the provisions of the Ameren Corporation 2006 Omnibus Incentive Compensation Plan (the
“Plan”). The number of Shares ultimately earned and paid, if any, for such Performance Share Units will be determined pursuant to Section 3 of this Agreement. 
 The Plan provides a complete description of the terms and conditions governing the Performance Share Units. If there is any inconsistency between the terms of this Agreement and the terms of the Plan, the
Plan’s terms will completely supersede and replace the conflicting terms of this Agreement. All capitalized terms will have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein. The parties hereto agree as
follows: 
 1. Grant Information. The individual named below has been selected to be a Participant in the Plan, as
specified below: 
  

	 	(a)	Participant: 

  

	 	(b)	Target Number of Performance Share Units: 

 2. Performance Period. The performance period begins on January 1, 2011, and ends on December 31, 2013 (“Performance Period”). 

3. Performance Grid. The number of Performance Share Units earned by the Participant under this Agreement will be determined in
accordance with the following grid. If the actual performance results fall between two of the categories listed below, straight-line interpolation will be used to determine the amount earned. Payouts that otherwise would have been more than 100% of
Target will be capped at Target if the Company’s total shareholder return (“TSR”) is negative over the three-year period. TSR shall be calculated in the manner set forth in Exhibit 1 hereto and compared to the peer group identified in
Exhibit 1. 
  

					
	 Ameren’s Percentile in

Total Shareholder Return vs. Utility Peers
 During the Performance Period
	  	Payout—Percent of Target
Performance Share Units
Granted	 
		
	90th percentile +	  	 	200	% 
		
	70th percentile	  	 	150	% 
		
	50th percentile	  	 	100	% 
		
	30th percentile	  	 	50	% 
		
	<30th percentile but Three-Year Average Earnings Per Share reaches or exceeds the average of the EIP threshold levels in 2011, 2012 and 2013	  	 	30	% 
		
	<30th percentile and Three-Year Average Earnings Per Share does not reach the average of the EIP threshold levels in 2011, 2012 and 2013	  	 	0% (no payout)	  

 4. Calculation of Earned Performance Share Units. The Committee, in its sole
discretion, will determine the number of Performance Share Units earned by the Participant at the end of the Performance Period based on the performance of the Company, calculated using the performance grid set forth in Section 3 of this
Agreement. 
 5. Vesting of Performance Share Units. Subject to provisions set forth in Section 9 of this Agreement
related to a Change of Control (as defined in the Second Amended and Restated Ameren Corporation Change of Control Severance Plan, as amended (the “Change of Control Severance Plan”)) of the Company and Section 10 relating to
termination for Cause (as defined in the Change of Control Severance Plan), the Performance Share Units will vest as set forth below: 
  

	 	(a)	Provided the Participant has continued employment through such date, one hundred percent (100%) of the earned Performance Share Units will vest on
December 31, 2013; or 

  

	 	(b)	Provided the Participant has continued employment through the date of his death and such death occurs prior to December 31, 2013, the Participant will be entitled
to a prorated award based on the Target Number of Performance Share Units set forth in Section 1(b) of this Agreement plus accrued dividends as of the date of his death, with such prorated number based upon the total number of days the
Participant worked during the Performance Period; or 

  

	 	(c)	Provided the Participant has continued employment through the date of his Disability (as defined in Code Section 409A), and such Disability occurs prior to
December 31, 2013, one hundred percent (100%) of the Performance Share Units he would have earned had he remained employed by the Company for the entire Performance Period will vest on December 31, 2013; or 

 

	 	(d)	Provided the Participant has continued employment through the date of retirement (as described below) and such retirement occurs before December 31, 2013, the
following vesting schedule shall be applicable to the Performance Share Units: 

  

	 	(i)	If the Participant retires at an age of 55 to 61 with five (5) years of service— the Participant is entitled to receive a prorated portion of the Performance
Share Units that would have been earned had the Participant remained employed by the Company for the entire Performance Period, based on the actual performance of the Company during the entire Performance Period, with the prorated number based upon
the total number of days the Participant worked during the Performance Period; or 

  

	 	(ii)	If the Participant retires after reaching age 62 with five (5) years of service— the Participant is entitled to receive one hundred percent (100%) of the
Performance Share Units that would have been earned had the Participant remained employed by the Company for the entire Performance Period based on the actual performance of the Company during the entire Performance Period. 

  
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 Termination of employment during the Performance Period for any reason other than death,
Disability, retirement as described above, or on or after a Change of Control in accordance with Section 9 will require forfeiture of this entire award, with no payment to the Participant. 

6. Form and Timing of Payment. All payments of vested Performance Share Units pursuant to this Agreement will be made in the form
of Shares. Except as otherwise provided in this Agreement, payment will be made upon the earliest to occur of the following: 
  

	 	(a)	January 1, 2014 or as soon as practicable thereafter; 

  

	 	(b)	The Participant’s death or as soon as practicable thereafter. 

 7. Right as Shareholder. Except as specifically set forth in this Agreement, the Participant shall not have voting or any other rights as a shareholder of the Company with respect to Performance
Share Units. The Participant will obtain full voting and other rights as a shareholder of the Company upon the payment of the Performance Share Units in Shares as provided in Section 6 or 9. 

8. Dividends. The Participant shall be entitled to receive dividend equivalents, which represent the right to receive Shares
measured by the dividend payable with respect to the corresponding number of Performance Share Units. Dividend equivalents on Performance Share Units will accrue and be reinvested into additional Performance Share Units throughout the three-year
Performance Period. The additional Shares will be paid as set forth in Section 6 or 9 of this Agreement. 
 9. Change of
Control. 
 (a) Company No Longer Exists. Upon a Change of Control which occurs on or before December 31, 2013
in which the Company ceases to exist or is no longer publicly traded on the New York Stock Exchange or the NASDAQ Stock Market, the Target Number of Performance Share Units awarded as set forth in Section 1(b) of this Agreement plus the accrued
dividends as of the date of the Change of Control shall be converted to nonqualified deferred compensation with the following features: 
  

	 	(i)	The initial amount of the nonqualified deferred compensation shall equal the value of one Share based on the closing price on the New York Stock Exchange on the last
trading day prior to the date of the Change of Control multiplied by the sum of the Target Number of Performance Share Units awarded as set forth in section 1(b) of this Agreement plus the additional Performance Share Units attributable to accrued
dividends; 

  

	 	(ii)	Interest on the nonqualified deferred compensation shall accrue based on the prime rate (adjusted on the first day of each calendar quarter) as published in the
“Money Rates” section in the Wall Street Journal from the date of the Change of Control until such nonqualified deferred compensation is distributed or forfeited; 

  
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	 	(iii)	If the Participant remains employed with the Company or its successor until the last day of the Performance Period, the nonqualified deferred compensation, plus
interest, shall be paid to the Participant in an immediate lump sum on January 1, 2014, or as soon as practicable thereafter. 

  

	 	(iv)	If the Participant remains employed with the Company or its successor until his death or disability which occurs before the last day of the Performance Period, the
Participant (or his estate or designated beneficiary) shall immediately receive the nonqualified deferred compensation, plus interest, upon such death or disability; 

 

	 	(v)	If the Participant has a qualifying termination (as defined in Section 9(c)) before the last day of the Performance Period, the Participant shall immediately
receive the nonqualified deferred compensation, plus interest, upon such termination; provided that such distribution shall be deferred until the date which is six months following the Participant’s termination of employment to the extent
required by Code Section 409A; and 

  

	 	(vi)	In the event the Participant terminates employment before the end of the Performance Period for any reason other than described in Sections (iv) or (v) above,
the nonqualified deferred compensation, plus interest, will immediately be forfeited. 

 (b) Company Continues
to Exist. If there is a Change of Control of the Company but the Company continues in existence and remains a publicly traded company on the New York Stock Exchange or the NASDAQ Stock Market, the Performance Share Units will pay out upon the
earliest to occur of the following: 
  

	 	(i)	As set forth in Section 6 (“Form and Timing of Payments”) of this Agreement; or 

 

	 	(ii)	If the Participant experiences a qualifying termination (as defined in Section 9(c)) during the two-year period following the Change of Control and the termination
occurs prior to January 1, 2014, one hundred percent (100%) of the Performance Share Units he would have earned had he remained employed for the entire Performance Period will vest on December 31, 2013 and the vested Performance Share
Units will be paid in Shares on January 1, 2014 or as soon as practicable thereafter. 

 (c) Qualifying
Termination. For purposes of Sections 9(a)(v) and 9(b)(ii), a qualifying termination means (i) an involuntary termination without Cause, (ii) for Change of Control Severance Plan participants, a voluntary termination of employment for
Good Reason (as defined in the Change of Control Severance Plan) or (iii) an involuntary termination that qualifies for severance under the Ameren Corporation Severance Plan for Management Employees (as in effect immediately prior to the Change
of Control). 
 (d) Termination in Anticipation of Change of Control. If a Participant qualifies for benefits as
provided in the last sentence of Section 4.1 of the Change of Control Severance Plan, or if a Participant is not a Participant in the Change of Control Severance Plan but is terminated within six (6) months prior to the Change of Control
and qualifies for severance benefits under the Company’s general severance plan and the Participant’s termination of employment occurs before December 31, 2013, then the Participant shall receive (i) upon a Change of Control
described in Section 9(a), an immediate cash payout equal to the value of one Share based on the closing price on the New York Stock Exchange on the last trading day prior to the date of the Change of Control multiplied by the sum of the Target
Number of Performance Share Units awarded as set forth in Section 1(b) of this Agreement plus the additional Performance Share Units attributable to accrued dividends or (ii) upon a Change of Control described in Section 9(b), the
payout provided for in Section 9(b).  

  
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 10. Termination for Cause. Termination of employment for Cause at any time prior to
payout of the Shares will require forfeiture of the entire Performance Share Unit Award, with no distribution of any Shares to the Participant.  
 11. Nontransferability. Performance Share Units awarded pursuant to this Agreement may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated (a “Transfer”)
other than by will or by the laws of descent and distribution, except as provided in the Plan. If any Transfer, whether voluntary or involuntary, of Performance Share Units is made, or if any attachment, execution, garnishment, or lien will be
issued against or placed upon the Performance Share Units, the Participant’s right to such Performance Share Units will be immediately forfeited to the Company, and this Agreement will lapse. 

12. Requirements of Law. The granting of Performance Share Units under the Plan will be subject to all applicable laws, rules, and
regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 
 13.
Tax Withholding. The Company will have the power and the right to deduct or withhold, or require the Participant or the Participant’s beneficiary to remit to the Company, an amount sufficient to satisfy federal, state, and local taxes,
domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of this Agreement. 
 14. Stock Withholding. With respect to withholding required upon any taxable event arising as a result of Performance Share Units granted hereunder, the Company, unless notified otherwise by the
Participant in writing within thirty (30) days prior to the taxable event, will satisfy the tax withholding requirement by withholding Shares having a Fair Market Value equal to the total minimum statutory tax required to be withheld on the
transaction. The Participant agrees to pay to the Company, its Affiliates and/or its Subsidiaries any amount of tax that the Company, its Affiliates and/or its Subsidiaries may be required to withhold as a result of the Participant’s
participation in the Plan that cannot be satisfied by the means previously described. 
 15. Administration. This
Agreement and the Participant’s rights hereunder are subject to all the terms and conditions of the Plan, as the same may be amended from time to time, as well as to such rules and regulations as the Committee may adopt for administration of
the Plan. It is expressly understood that the Committee is authorized to administer, construe, and make all determinations necessary or appropriate to the administration of the Plan and this Agreement, all of which will be binding upon the
Participant. 
 16. Continuation of Employment. This Agreement will not confer upon the Participant any right to
continuation of employment by the Company, its Affiliates, and/or its Subsidiaries, nor will this Agreement interfere in any way with the Company’s, its Affiliates’, and/or its Subsidiaries’ right to terminate the Participant’s
employment at any time. 

  
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 17. Amendment to the Plan. The Plan is discretionary in nature and the Committee may
terminate, amend, or modify the Plan; provided, however, that no such termination, amendment, or modification of the Plan may in any way adversely affect the Participant’s rights under this Agreement, without the Participant’s written
approval. 
 18. Amendment to this Agreement. The Company may amend this Agreement in any manner, provided that no such
amendment may adversely affect the Participant’s rights hereunder without the Participant’s written approval.  

19. Successor. All obligations of the Company under the Plan and this Agreement, with respect to the Performance Share Units, will
be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company.

 20. Severability. The provisions of this Agreement are severable and if any one or more provisions are determined to
be illegal or otherwise unenforceable, in whole or in part, the remaining provisions will nevertheless be binding and enforceable. 
 21. Applicable Laws and Consent to Jurisdiction. The validity, construction, interpretation and enforceability of this Agreement will be determined and governed by the laws of the State of Missouri
without giving effect to the principles of conflicts of law. For the purpose of litigating any dispute that arises under this Agreement, the parties hereby consent to exclusive jurisdiction and agree that such litigation will be conducted in the
federal or state courts of the State of Missouri. 
 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
effective as of January 1, 2011. 
  

			
	Ameren Corporation
		
	By:	 	  

		 	 Vice President, Human Resources of Ameren
 Services Company, on behalf of Ameren
 Corporation

		
	By:	 	  

		 	Participant

  
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 EXHIBIT 1 
 Total Shareholder Return 
 Total Shareholder Return shall be calculated as follows:

 

 

  

	*	In practice, dividends will be treated as having been reinvested quarterly. 

 Peer Group 
 Following are the peer group companies. In order to be counted in the final
calculations, a company must still have a ticker at the end of the performance period. 
  

							
	 Company
	  	Ticker	  	 Company
	  	Ticker
				
	ALLIANT ENERGY CORPORATION	  	LNT	  	NEXTERA ENERGY INC.	  	NEE
				
	AMERICAN ELECTRIC POWER CO INC	  	AEP	  	OGE ENERGY	  	OGE
				
	CMS ENERGY	  	CMS	  	PINNACLE WEST CAPITAL CORP	  	PNW
				
	DOMINION RESOURCES INC	  	D	  	PPL CORPORATION	  	PPL
				
	DPL INC.	  	DPL	  	PROGRESS ENERGY	  	PGN
				
	DTE ENERGY CO	  	DTE	  	PSEG INC.	  	PEG
				
	DUKE ENERGY	  	DUK	  	SCANA	  	SCG
				
	EDISON INTERNATIONAL	  	EIX	  	SOUTHERN CO	  	SO
				
	FIRSTENERGY CORP	  	FE	  	XCEL ENERGY INC	  	XEL
				
	GREAT PLAINS ENERGY INC	  	GXP	  	WESTAR ENERGY, INC.	  	WR
				
	INTEGRYS	  	TEG	  	WISCONSIN ENERGY	  	WEC

  
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