Document:

Exhibit 10.1 

ENBRIDGE ENERGY COMPANY, INC.
  
FORM OF INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (“Agreement”) is entered into as of [        ] by and between Enbridge Energy Company, Inc. (the “Company”) and [        ] (“Indemnitee”). 

RECITALS 

A. The Company is the general partner of Enbridge Energy Partners, L.P. (the “Partnership”) and, under a delegation of control agreement, has delegated substantially all of its power and authority to manage the Partnership’s business and affairs to Enbridge Energy Management, L.L.C. (“Enbridge Management”). 

B. The Company and Indemnitee recognize the significant increases in the cost of liability insurance for the Company’s directors, officers, employees, agents and fiduciaries. 

C. The Company and Indemnitee further recognize the substantial increase in corporate litigation in general, subjecting directors, officers, employees, agents and fiduciaries to expensive litigation risks at the same time as the availability and coverage of liability insurance has been severely limited. 

D. Indemnitee does not regard the current protection available as adequate under the present circumstances, and Indemnitee and other directors, officers, employees, agents and fiduciaries of the Company may not be willing to continue to serve in such capacities without additional protection. 

E. The Company desires to attract and retain the services of highly qualified individuals, such as Indemnitee, to serve the Company and, in part, in order to induce Indemnitee to continue to provide services to the Company, wishes to provide for the indemnification and advancing of expenses to Indemnitee to the maximum extent permitted by law. 

F. In view of the considerations set forth above, the Company desires that Indemnitee be indemnified by the Company as set forth herein. 

NOW, THEREFORE, the Company and Indemnitee hereby agree as follows: 

1. Indemnification. 

(a) Indemnification of Expenses.  The Company shall indemnify Indemnitee to the fullest extent permitted by law if Indemnitee was or is or becomes a party to or witness or other participant in, or is threatened to be made a party to or witness or other participant in, any threatened, pending or completed action, suit, proceeding or alternative dispute resolution mechanism, or any hearing, inquiry or investigation that Indemnitee in good faith believes might lead to the institution of any such action, suit, proceeding or alternative dispute resolution mechanism, whether civil, criminal, administrative,
investigative or other (hereinafter a “Claim”) by reason of (or arising in part out of) any event or occurrence related to the fact that Indemnitee is or was a director, officer, employee, agent or fiduciary of the Company or Enbridge Management, or director, manager, officer, employee, agent or fiduciary of any subsidiary of the Company or Enbridge Management, or is or was serving at the request of the Company or Enbridge Management as a director, manager, officer, employee, agent or fiduciary of another corporation, limited liability company, partnership, limited partnership, joint venture, trust or other enterprise, or by reason of any action or inaction on the part of Indemnitee while serving in such capacity (hereinafter an “Indemnifiable Event”) against any and all expenses (including attorneys’ fees and all other costs, expenses and obligations incurred in connection with investigating, defending, asserting a counterclaim in (if such
counterclaim is approved in advance by the Company), being a witness in or participating in (including on appeal), or preparing to defend, assert a counterclaim in (if such counterclaim is approved in advance by the Company), be a witness in or participate in, any such action, suit, proceeding, alternative dispute resolution mechanism, hearing, inquiry or investigation), judgments, fines, penalties and amounts paid in settlement (if such settlement is approved in advance by the Company, which approval shall not be unreasonably withheld) of such Claim, and any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments from the Company under this Agreement (collectively, hereinafter “Expenses”), including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses. Such payment of Expenses shall be made by the Company as soon as practicable but in any event no
later than five days after written demand by Indemnitee therefor is presented to the Company. 

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(b) Reviewing Party.  Notwithstanding the foregoing, (i) the obligations of the Company under Section 1(a) shall be subject to the condition that the Reviewing Party (as described in Section 10(c) hereof) shall not have determined that Indemnitee would not be permitted to be indemnified under applicable law, and (ii) the obligation of the Company to make an advance payment of Expenses to Indemnitee pursuant to Section 2(a) (an “Expense Advance”) shall be subject to the condition that, if, when and to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be so
indemnified under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the Company) for all such amounts theretofore paid; provided, however, that if Indemnitee has commenced or thereafter commences legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final judicial determination is made with respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed). Indemnitee’s obligation to reimburse the Company for any Expense Advance shall be unsecured and no interest shall be charged thereon. The Reviewing Party shall be selected by the Board of Directors. If there has
been no determination by the Reviewing Party or if the Reviewing Party determines that Indemnitee substantively would not be permitted to be indemnified in whole or in part under applicable law, Indemnitee shall have the right to commence litigation seeking a determination by the court or challenging any such determination by the Reviewing Party or any aspect thereof, including the legal or factual bases therefor, and the Company hereby consents to service of process and to appear in any such proceeding. Any determination by the Reviewing Party otherwise shall be conclusive and binding on the Company and Indemnitee. 

(c) Mandatory Payment of Expenses.  Notwithstanding any other provision of this Agreement other than Section 8 hereof, to the extent that Indemnitee has been successful on the merits or otherwise, including, without limitation, the dismissal of an action without prejudice, in defense of any action, assertion of a counterclaim (if such counterclaim was approved in advance by the Company), suit, proceeding, inquiry or investigation referred to in Section (1)(a) hereof or in the defense of any claim, assertion of a counterclaim (if such counterclaim was approved in advance by the Company), issue or matter
therein, Indemnitee shall be indemnified against all Expenses incurred by Indemnitee in connection therewith. 

2. Expenses; Indemnification Procedure. 

(a) Advancement of Expenses.  The Company shall advance all Expenses incurred by Indemnitee. The advances to be made hereunder shall be paid by the Company to Indemnitee as soon as practicable but in any event no later than five days after written demand by Indemnitee therefor to the Company. 

(b) Notice and Cooperation by Indemnitee.  Indemnitee shall, as a condition precedent to Indemnitee’s right to be indemnified under this Agreement, give the Company notice in writing as soon as practicable of any Claim made against Indemnitee for which indemnification will or could be sought under this Agreement. Notice to the Company shall be directed to the President of the Company at the address shown on the signature page of this Agreement (or such other address as the Company shall designate in writing to Indemnitee). In addition, Indemnitee shall give the Company such information and cooperation as
it may reasonably require and as shall be within Indemnitee’s power. 

(c) No Presumptions; Burden of Proof.  For purposes of this Agreement, the termination of any Claim by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification is not permitted by applicable law. In addition, neither the failure of the Reviewing Party to have made a determination as to whether Indemnitee has met any particular standard of conduct or had any
particular belief, nor an actual determination by the Reviewing Party that Indemnitee has not met such standard of conduct or did not have such belief, prior to the commencement of legal proceedings by Indemnitee to secure a judicial determination that Indemnitee should be indemnified under applicable law, shall be a defense to Indemnitee’s claim or create a presumption that Indemnitee has not met any particular standard of conduct or did not have any particular belief. In connection with any determination by the Reviewing Party or otherwise as to whether Indemnitee is entitled to be indemnified hereunder, the burden of proof shall be on the Company to establish that Indemnitee is not so entitled. The knowledge and/or actions, or failure to act, of any director, manager, officer, agent or employee of the Company or of any subsidiary of the Company shall not be imputed to Indemnitee for purposes of determining the right of indemnification under this Agreement. 

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(d) Notice to Insurers.  If, at the time of the receipt by the Company of a notice of a Claim pursuant to Section 2(b) hereof, the Company has liability insurance in effect which may cover such Claim, the Company shall give prompt notice of the commencement of such Claim to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such action, suit, proceeding, inquiry or investigation in accordance with the terms of such
policies. 

(e) Selection of Counsel.  In the event the Company shall be obligated hereunder to pay the Expenses of any Claim, the Company shall be entitled to assume the defense of such Claim with counsel approved by Indemnitee, which approval shall not be unreasonably withheld, upon the delivery to Indemnitee of written notice of its election so to do. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same
Claim; provided that, (i) Indemnitee shall have the right to employ Indemnitee’s counsel in any such Claim at Indemnitee expense and (ii) if, (A) the employment of counsel by Indemnitee has been previously authorized by the Company, (B) Indemnitee shall have reasonably concluded that there is a conflict of interest between the Company and Indemnitee in the conduct of any such defense, or (C) the Company shall not continue to retain such counsel to defend such Claim, then the fees and expenses of Indemnitee’s counsel shall be at the expense of the Company. The Company shall have the right to conduct such defense as it sees fit in its sole discretion, including the right to settle any claim against Indemnitee without the consent of the Indemnitee. 

3. Additional Indemnification Rights; Nonexclusivity. 

(a) Scope.  The Company hereby agrees to indemnify Indemnitee to the fullest extent permitted by law, notwithstanding whether such indemnification is specifically authorized by the other provisions of this Agreement, the Company’s Certificate of Incorporation, the Company’s Bylaws or by statute. In the event of any change after the date of this Agreement in any applicable law, statute or rule which expands the right of a Delaware corporation to indemnify a member of its Board of Directors, or an officer, employee, agent or fiduciary, as the case may be, it is the intent of the parties hereto that
Indemnitee shall enjoy by this Agreement the greater benefits afforded by such change. In the event of any change in any applicable law, statute or rule which narrows the right of a Delaware corporation to indemnify a member of its Board of Directors or an officer, employee, agent or fiduciary, as the case may be, such change, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties’ rights and obligations hereunder except as set forth in Section 8(a) hereof. 

(b) Nonexclusivity.  The indemnification provided by this Agreement shall be in addition to any rights to which Indemnitee may be entitled under the Company’s Certificate of Incorporation, its Bylaws, Enbridge Management’s Certificate of Formation, Enbridge Management’s Amended and Restated Limited Liability Company Agreement, or the charter documents of any subsidiary of the Company or Enbridge Management, in each case as amended, any agreement, any vote of stockholders or disinterested directors, the law of the State of Delaware, or otherwise. The indemnification provided under this Agreement
shall continue as to Indemnitee for any action Indemnitee took or did not take while serving in an indemnified capacity even though Indemnitee may have ceased to serve in such capacity. 

4. No Duplication of Payments.  The Company shall not be liable under this Agreement to make any payment in connection with any Claim made against Indemnitee to the extent Indemnitee has otherwise actually received payment (under any insurance policy, charter documents, or otherwise) of the amounts otherwise indemnifiable hereunder. 

5. Partial Indemnification.  If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of Expenses incurred in connection with any Claim, but not, however, for all of the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such Expenses to which Indemnitee are entitled. 

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6. Mutual Acknowledgement.  Both the Company and Indemnitee acknowledge that in certain instances, federal law or applicable public policy may prohibit the Company from indemnifying its directors, officers, employees, agents or fiduciaries under this Agreement or otherwise. Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the Securities and Exchange Commission to submit the question of indemnification to a court in certain circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee. 

7. Liability Insurance.  To the extent the Company and/or Enbridge Management maintain liability insurance applicable to directors, officers, employees, agents or fiduciaries, Indemnitee shall be covered by such policies in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s and Enbridge Management’s directors, if Indemnitee is a director; or of the Company’s and Enbridge Management’s officers, if Indemnitee is not a director of the Company or Enbridge Management but is an officer; or of the key employees, agents
or fiduciaries of the Company or Enbridge Management, if Indemnitee is not an officer or director but is a key employee, agent or fiduciary. 

8. Exceptions.  Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement: 

(a) Excluded Action or Omissions.  To indemnify Indemnitee for Indemnitee’s acts, omissions or transactions from which Indemnitee or the Indemnitee may not be indemnified under applicable law; 

(b) Claims Initiated by Indemnitee.  To indemnify or advance expenses to Indemnitee with respect to Claims initiated or brought voluntarily by Indemnitee and not by way of defense, except (i) with respect to actions or proceedings brought to establish or enforce a right to indemnification under this Agreement or any other agreement or insurance policy or under the Company’s Certificate of Incorporation or Bylaws, or Enbridge Management’s Certificate of Formation or Amended and Restated Limited Liability Company, now or hereafter in effect relating to Claims for Indemnifiable Events, (ii) in specific
cases if the Board of Directors has approved the initiation or bringing of such Claim, or (iii) as otherwise required under Section 145 of the Delaware General Corporation Law, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advance expense payment or insurance recovery, as the case may be; 

(c) Lack of Good Faith.  To indemnify Indemnitee for any expenses incurred by Indemnitee with respect to any proceeding instituted by Indemnitee to enforce or interpret this Agreement, if a court of competent jurisdiction determines that each of the material assertions made by Indemnitee in such proceeding was not made in good faith or was frivolous; or 

(d) Claims Under Section 16(b).  To indemnify Indemnitee for the payment of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute. 

9. Period of Limitations.  No legal action shall be brought and no cause of action shall be asserted by or in the right of the Company against Indemnitee, Indemnitee’s estate, spouse, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause
of action, such shorter period shall govern. 

10. Construction of Certain Phrases. 

(a) For purposes of this Agreement, references to the “Company” shall include, in addition to the resulting corporation, any constituent corporation or other entity (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, managers, partners, officers, employees, agents or fiduciaries, so that if Indemnitee is or was a director, manager, partner officer, employee, agent or fiduciary of such constituent corporation or other entity, or is or was serving at the request of such
constituent corporation or other entity as a director, manager, partner officer, employee, agent or fiduciary of another corporation, limited liability company, partnership, limited partnership, joint venture, employee benefit plan, trust or other enterprise, Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving corporation or other entity as Indemnitee would have with respect to such constituent corporation or other entity if its separate existence had continued. 

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(b) For purposes of this Agreement, references to “other enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on Indemnitee with respect to an employee benefit plan; and references to “serving at the request of the Company” shall include any service as a director, manager, partner, officer, employee, agent or fiduciary of the Company or Enbridge Management or any subsidiary of the Company or Enbridge Management which imposes duties on, or involves services by, such director, manager, partner, officer, employee, agent or fiduciary with
respect to an employee benefit plan, its participants or its beneficiaries; and if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner not opposed to the best interests of the Company. 

(c) For purposes of this Agreement, a “Reviewing Party” shall mean any appropriate person or body consisting of a member or members of the Company’s Board of Directors or any other person or body appointed by the Board of Directors who is not a party to the particular Claim for which Indemnitee is seeking indemnification. 

11. Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall constitute an original. 

12. Binding Effect; Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors, assigns, including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs, and personal and legal representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all, or a substantial part, of the business and/or
assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. This Agreement shall continue in effect with respect to Claims relating to Indemnifiable Events regardless of whether Indemnitee continues to serve as a director, manager, partner, officer, employee, agent or fiduciary of the Company, any of its subsidiaries or of any other enterprise at the Company’s request. 

13. Attorneys’ Fees.  In the event that any action is instituted by Indemnitee under this Agreement or under any liability insurance policies maintained by the Company to enforce or interpret any of the terms hereof or thereof, Indemnitee shall be entitled to be paid all Expenses incurred by Indemnitee with respect to such action, regardless of whether Indemnitee is ultimately successful in such action, and shall be entitled to the advancement of Expenses with respect to such action, unless, as a part of such action, a court of competent jurisdiction over such action determines that each of the material
assertions made by Indemnitee as a basis for such action was not made in good faith or was frivolous. In the event of an action instituted by or in the name of the Company under this Agreement to enforce or interpret any of the terms of this Agreement, Indemnitee shall be entitled to be paid all Expenses incurred by Indemnitee in defense of such action (including costs and expenses incurred with respect to Indemnitee counterclaims and cross-claims made in such action), and shall be entitled to the advancement of Expenses with respect to such action, unless, as a part of such action, a court having jurisdiction over such action determines that each of Indemnitee’s material defenses to such action was made in bad faith or was frivolous. 

14. Notice.  All notices and other communications required or permitted hereunder shall be in writing, shall be effective when given, and shall in any event be deemed to be given (a) five days after deposit with the U.S. Postal Service or other applicable postal service, if delivered by first class mail, postage prepaid, (b) upon delivery, if delivered by hand, (c) one business day after the business day of deposit with Federal Express or similar overnight courier, freight prepaid, or (d) upon sending, with delivery receipt requested, if delivered by email, with a hard copy by first class mail, postage
prepaid, Federal Express or similar overnight courier, and shall be addressed if to Indemnitee, at the Indemnitee address as set forth beneath Indemnitee’s signature to this Agreement and if to the Company at the address of its principal corporate offices (attention: General Counsel) or at such other address as such party may designate by ten days’ advance written notice to the other party hereto. 

15. Consent to Jurisdiction.  The Company and Indemnitee each hereby irrevocably consent to the jurisdiction of the courts of the State of Delaware for all purposes in connection with any action or proceeding which arises out of or relates to this Agreement and agree that any action instituted under this Agreement shall be commenced, prosecuted and continued only in the Court of Chancery of the State of Delaware in and for New Castle County, which shall be the exclusive and only proper forum for adjudicating such a claim. 

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16. Severability.  The provisions of this Agreement shall be severable in the event that any of the provisions hereof (including any provision within a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, and the remaining provisions shall remain enforceable to the fullest extent permitted by law. Furthermore, to the fullest extent possible, the provisions of this Agreement (including, without limitations, each portion of this Agreement containing any provision held to be invalid, void or otherwise unenforceable, that is not itself
invalid, void or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable. 

17. Choice of Law.  This Agreement shall be governed by and its provisions construed and enforced in accordance with the laws of the State of Delaware, as applied to contracts between Delaware residents, entered into and to be performed entirely within the State of Delaware, without regard to the conflict of laws principles thereof. 

18. Subrogation.  In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable the Company effectively to bring suit to enforce such rights. 

19. Amendment and Termination.  No amendment, modification, termination or cancellation of this Agreement shall be effective unless it is in writing signed by both the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 

20. Integration and Entire Agreement.  This Agreement sets forth the entire understanding between the parties hereto and supersedes and merges all previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between the parties hereto. 

21. No Construction as Employment Agreement.  Nothing contained in this Agreement shall be construed as giving Indemnitee any right to be retained in the employ of the Company or any of its subsidiaries. 

[signature page follows immediately hereafter] 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. 

[             ] 

By:
 Title:
 Address: 

AGREED TO AND ACCEPTED BY:

Signature: 
 Name:
 Address: 

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SCHEDULE OF OMITTED AGREEMENTS 

The following Indemnification Agreements have not been filed as exhibits pursuant to Instruction 2 of Item 601 of Regulation S-K. These documents are substantially identical in all material respects to Exhibit 10.6 to this Form 10-Q. 

		1.	Indemnification Agreement, dated effective as of April 25, 2002, by and between Enbridge Energy Company, Inc. and J. Richard Bird. 

		2.	Indemnification Agreement, dated effective as of January 23, 2003, by and between Enbridge Energy Company, Inc. and Jeffrey A. Connelly. 

		3.	Indemnification Agreement, dated effective as of July 27, 2010, by and between Enbridge Energy Company, Inc. and J. Herbert England. 

		4.	Indemnification Agreement, dated effective as of April 30, 2015, by and between Enbridge Energy Company, Inc. and Leo J. Golden. 

		5.	Indemnification Agreement, dated effective as of January 1, 2015, by and between Enbridge Energy Company, Inc. and Cynthia L. Hansen. 

		6.	Indemnification Agreement, dated effective as of January 30, 2014, by and between Enbridge Energy Company, Inc. and C. Gregory Harper. 

		7.	Indemnification Agreement, dated effective as of March 1, 2014, by and between Enbridge Energy Company, Inc. and D. Guy Jarvis. 

		8.	Indemnification Agreement, dated effective as of July 29, 2013, by and between Enbridge Energy Company, Inc. and Noor S. Kaissi. 

		9.	Indemnification Agreement, dated effective as of April 25, 2002, by and between Enbridge Energy Company, Inc. and E. Chris Kaitson. 

		10.	Indemnification Agreement, dated effective as of April 25, 2002, by and between Enbridge Energy Company, Inc. and Joel W. Kanvik. 

		11.	Indemnification Agreement, dated effective as of April 28, 2008, by and between Enbridge Energy Company, Inc. and Kenneth C. Lanik. 

		12.	Indemnification Agreement, dated effective as of April 25, 2002, by and between Enbridge Energy Company, Inc. and Mark A. Maki. 

		13.	Indemnification Agreement, dated effective as of September 1, 2006, by and between Enbridge Energy Company, Inc. and Stephen J. Neyland. 

		14.	Indemnification Agreement, dated effective as of July 28, 2005, by and between Enbridge Energy Company, Inc. and Jonathan N. Rose. 

		15.	Indemnification Agreement, dated effective as of October 29, 2007, by and between Enbridge Energy Company, Inc. and Allan M. Schneider. 

		16.	Indemnification Agreement, dated effective as of April 30, 2013, by and between Enbridge Energy Company, Inc. and Bradley F. Shamla. 

		17.	Indemnification Agreement, dated effective as of July 22, 2004, by and between Enbridge Energy Company, Inc. and Bruce A. Stevenson. 

		18.	Indemnification Agreement, dated effective as of October 30, 2013, by and between Enbridge Energy Company, Inc. and Valorie J. Wanner. 

		19.	Indemnification Agreement, dated effective as of October 29, 2007, by and between Enbridge Energy Company, Inc. and Dan A. Westbrook. 

		20.	Indemnification Agreement, dated effective as of October 31, 2014, by and between Enbridge Energy Company, Inc. and John K. Whelen. 

		21.	Indemnification Agreement, dated effective as of July 22, 2004, by and between Enbridge Energy Company, Inc. and Leon A. Zupan. 

79Exhibit 4.3

 

 

HEWLETT PACKARD ENTERPRISE

EXECUTIVE DEFERRED COMPENSATION PLAN

(Effective November 1, 2015)

The Hewlett Packard Enterprise Executive Deferred Compensation Plan is established effective November 1, 2015 to permit Eligible Employees and Outside Directors to defer receipt of certain compensation and to provide matching contributions for certain employees pursuant to the terms and provisions set forth below.

The Plan is intended: (1) to comply with Code section 409A and official guidance issued thereunder; and (2) with respect to the portion of the Plan covering Eligible Employees, to be "a plan which is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees" within the meaning of sections 201(2), 301(a)(3) and 401(a)(1) of ERISA.  Notwithstanding any other provision of this Plan, this Plan shall be interpreted, operated and administered in a manner consistent with these intentions.

See Appendix A for special rules related to the spin-off of HPE from HP Inc.

ARTICLE I:  DEFINITIONS

Wherever used herein the following terms shall have the meanings hereinafter set forth:

“Account“ means a bookkeeping account established by HPE for (i) each Participant electing to defer Eligible Income under the Plan, and (ii) each Rollover Participant.

“Actual Pay” means “Eligible Compensation” as defined in the Hewlett Packard Enterprise 401(k) Plan, as amended from time to time, without giving effect to the Code section 401(a)(17) limitation set forth in such definition and the exclusion of pay deferred under this Plan.

“Affiliate“ means any corporation or other entity that is treated as a single employer with HPE under Code section 414.

“Annual Rate of Pay“ means the annual rate of pay, which is the sum of an employee’s base pay and targeted incentive amount, as reflected in the compensation data in HPE’s global database for human resources information, and as adjusted for such employee’s employment status, including part-time status.

“Annual Retainer” means the cash portion of any annual retainer paid to an Outside Director.

“Beneficiary“ means the person or persons or trust designated by a Participant to receive any amounts payable under the Plan in the event of the Participant's death.  HPE has established procedures governing the form and manner in which a Participant may designate a Beneficiary.  Only a Beneficiary designation submitted in accordance with such procedures and that is received by HPE before the death of the Participant shall be a valid Beneficiary designation.  If there is no valid Beneficiary designation in effect upon the death of a Participant, any remaining Account balance shall be paid in the following order: (i) to that person's spouse; (ii) if no spouse is living at the time of such payment, then to that person’s living children, in equal shares; (iii) if neither a spouse nor children are living, then to that person’s living parents, in equal shares; (iv) if neither spouse, nor children, nor parents are living, then to that person’s living brothers and sisters, in equal shares; and (v) if none of the individuals described in (i) through (iv) are living, to that person’s estate.  A person's domestic partner shall be considered a person's spouse for 

 

 

 

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purposes of this paragraph.  HPE shall determine a person's status as a domestic partner in a uniform and nondiscriminatory manner.

“Bonus Eligible Employee“ means an individual who is an Employee on November 1 preceding the Plan Year within which deferrals are to be made (1) who satisfies both of the following conditions: (i) whose job position has a title of Director (or whose job function is, in the sole and absolute discretion of HPE, equivalent to a ‘Director’ position) and (ii) whose Annual Rate of Pay is equal to or greater than the dollar limit for highly compensated employees as defined in Section 414(q)(1)(B)(i) of the Code plus $30,000, or (2) whose job position has a title of Executive Vice President or above, irrespective of such Employee’s Annual Rate of Pay.

“Code“ means the Internal Revenue Code of 1986, as amended.

“Code Section 401(a)(17) Limit” means the amount specified under Code section 401(a)(17) in effect on January 1 of the Plan Year.

“Committee“ means the HR and Compensation Committee of HPE's Board of Directors.

“Deferral Form“ means a written or electronic form provided by HPE pursuant to which an Eligible Employee or Outside Director may elect to defer amounts under the Plan.

“Director” means the title for an employee who has a job grade of DIR1 and above.

“Eligible Employee“ means an individual who is (i) a Bonus Eligible Employee, (ii) a Match Eligible Employee, (iii) an Employee whose Annual Rate of Pay, as of the first day of November preceding the Plan Year within which the deferral is to be made, exceeds the Code Section 401(a)(17) Limit for the Plan Year in which the deferral is to be made, or (iv) a combination or all of the foregoing.  An individual’s status as an Eligible Employee shall be determined by HPE in its sole discretion.

An Eligible Employee shall also include a Newly Hired Employee and a Late Year Newly Hired Employee.

“Eligible Income“ means Actual Pay, Annual Retainer and Incentive Awards.

“Employee“ means an individual who is a regular employee on the U.S. payroll of HPE or its Affiliates, other than a temporary or intermittent employee.  The term "Employee" shall not include a person hired as an independent contractor, leased employee, consultant, or a person otherwise designated by HPE or an Affiliate as not eligible to participate in the Plan, even if such person is determined to be an "employee" of HPE or an Affiliate by any governmental or judicial authority.

“EPfR Plan“ means the Hewlett Packard Enterprise Company Executive Pay-for-Results Plan, as amended from time to time.

“ERISA“ means the Employee Retirement Income Security Act of 1974, as amended.

“HPE“ means Hewlett Packard Enterprise Company or any successor corporation or other entity.

“HPE Matching Contributions” means the matching contributions as defined in Section 4.1.

“Incentive Award“ means an amount payable to an Eligible Employee under a cash bonus or incentive compensation plan of HPE or an Affiliate that the Committee has deemed eligible for deferral, 

 

 

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including bonuses paid under the EPfR Plan, the PfR Plan, the VPB Plan, the Hewlett Packard Enterprise Company Financial Services Incentive Compensation Plan, the Hewlett Packard Enterprise Company Client Principal Incentive Plan, and the annual bonus portion of the Hewlett Packard Enterprise Company Account Executive Pay for Performance Incentive Plan.

“Investment Options“ means the investment options, as determined from time to time by HPE, used to credit earnings, gains and losses on Account balances.

“Key Employee” means an Employee who at Termination of Employment is treated as a "specified employee" under Code section 409A(a)(2)(B)(i), i.e., a key employee (as defined in Code section 416(i) without regard to paragraph (5) thereof) of a corporation the stock of which is publicly traded on an established securities market or otherwise.  HPE shall determine which Employees will be deemed a Key Employee for purposes of this Plan during a Plan Year based on the twelve-month period ending on the September 30 prior to the Plan Year.

“Late Year Newly Hired Employee” means an Employee (i) who is hired in November or December and (ii) who would have qualified as an Eligible Employee as of the November 1 preceding his date of hire based on his initial position and Annual Rate of Pay.

“Match Eligible Employee”  means an individual (i) who is eligible for a matching contribution under the Hewlett Packard Enterprise 401(k) Plan, and (ii) whose Annual Rate of Pay, as of the first day of November preceding the Plan Year within which the deferral is to be made, exceeds the Code Section 401(a)(17) Limit for such Plan Year.

“Newly Hired Employee” means an Employee (i) who would have qualified as an Eligible Employee as of the November 1 preceding his date of hire based on his initial position and Annual Rate of Pay, and (ii) whose base salary payable in the year of hire is projected to exceed the Code section 401(a)(17) limit for such year; provided, however, that an individual who has previously worked for HPE or an Affiliate will only qualify as a “Newly Hired Employee” if he meets the requirements of Treas. Reg. § 1.409A-2(a)(7) or any successor thereto.  Generally, a re-hired individual will meet these requirements if (1) he has been paid any and all amounts due him under the Plan (and any plans required to be aggregated with the Plan under Code section 409A) prior to re-hire, or (2) he has not been eligible to participate, other than the accrual of earnings, in the Plan (or any other plan required to be aggregated with the Plan under Code section 409A) for at least 24 months.

“Outside Director” means an individual who is a member of HPE’s Board of Directors and not an Employee of HPE.

“Participant” means an Eligible Employee or Outside Director who elects or has elected to defer amounts under the Plan.

“PfR Plan” means the Hewlett Packard Enterprise Company Pay-for-Results Short-Term Bonus Plan, as amended from time to time.

“Plan" means this Hewlett Packard Enterprise Executive Deferred Compensation Plan, as set forth herein and as amended from time to time.

“Plan Committee” means the committee to which the Committee delegates certain authority to act on various compensation and benefit matters.

“Plan Year” means January 1 through December 31. 

 

 

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“Retirement Date” means the date on which a Participant has completed at least 15 years of service, as measured from such Participant’s last hire date, and has attained age 55.

“Rollover Participant” means an individual with an Account in the Plan transferred from a Rollover Plan in accordance with the provisions of Article IX.  The term Rollover Participant may also refer to an individual who has previously been a Participant in the Plan, or an existing Participant at the time of transfer.

“Rollover Plan" means either (1) a nonqualified deferred compensation plan of a business entity acquired by HPE or an Affiliate through acquisition of a majority of the voting interest in, or substantially all of the assets of, such entity, or (2) any plan or program of HPE or an Affiliate pursuant to the termination of which an Account is established for a Participant or Rollover Participant.

“Termination Date” means the date on which the Participant experiences a “separation from service” as defined under Code section 409A.

“Termination of Employment” or "Terminates Employment" means a “separation from service” with HPE and its Affiliates as defined under Code section 409A.

“VPB Plan” means the Hewlett Packard Enterprise Company Variable Performance Bonus Plan, as amended from time to time.

ARTICLE II:  PARTICIPATION

Participation in the Plan shall be limited to Eligible Employees and Outside Directors.  HPE shall notify any Employee of his status as an Eligible Employee at such time and in such manner as HPE shall determine.  An Eligible Employee or Outside Director shall become a Participant by making a deferral election under Article III.

ARTICLE III:  PARTICIPANT ACCOUNTS

3.1            Employee Deferral Elections.  Deferrals may be made by an Eligible Employee with respect to the following types of Eligible Income, as permitted by HPE:

	
(a)

	
Annual Rate of Pay.

(i)            An Eligible Employee whose Annual Rate of Pay, as of the first day of November preceding the Plan Year within which the deferral is to be made, exceeds the Code Section 401(a)(17) Limit for the Plan Year in which the deferral is to be made, may elect to defer a portion of his Actual Pay.  In order to elect to defer Annual Rate of Pay earned during a Plan Year, an Eligible Employee shall submit an irrevocable Deferral Form with HPE before the beginning of such Plan Year.

(ii)            The portion of his Annual Rate of Pay that an Eligible Employee elects to defer for a Plan Year shall be stated as a whole dollar amount.  The minimum amount of Annual Rate of Pay that an Eligible Employee may elect to defer in a Plan Year is $1,200.  The maximum amount is equal to the greater of $1,200 or the Eligible Employee’s Annual Rate of Pay that exceeds the Code Section 401(a)(17) Limit.  If the 

 

 

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Internal Revenue Service does not publish the Code Section 401(a)(17) Limit for the Plan Year prior to enrollment, HPE has the discretion to determine eligibility to elect to defer Annual Rate of Pay; provided, however, if a Participant is determined to be ineligible to elect to defer Annual Rate of Pay under paragraph (i) above for a Plan Year, any Annual Rate of Pay deferrals the Participant elected for the Plan Year shall be void.

(iii)            The deferral amount designated by an Eligible Employee will be deducted in equal installments over the pay periods falling within the Plan Year to which the election pertains.

	
(b)

	
Incentive Awards.  A Bonus Eligible Employee may elect to defer any portion of an Incentive Award up to 95%, expressed as whole percentage points.  In order to elect to defer an Incentive Award, a Bonus Eligible Employee shall submit an irrevocable Deferral Form with HPE before the beginning of the Plan Year in which the performance period to which Incentive Award pertains begins, in accordance with procedures that HPE determines in its discretion.  Notwithstanding the foregoing, if HPE determines that a Bonus Eligible Employee may elect to defer a portion of the Incentive Award at a later time under Code section 409A, a Bonus Eligible Employee may elect to defer a portion of the Incentive Award by filing an irrevocable Deferral Form at such later time as determined by HPE in accordance with Code section 409A.

3.2            New Hires.  A Newly Hired Employee may elect within 30 days of becoming an Employee to defer base salary earned subsequent to the deferral election becoming effective and in the year of hire.  Such an election shall become irrevocable and effective at the end of this 30-day period.

3.3            Late Year New Hires.  A Late Year Newly Hired Employee may elect within the later of 30 days of becoming an Employee or the end of the calendar year in which he is hired to defer base salary earned in the Plan Year following his year of hire.  Such an election shall become irrevocable and effective at the end of this election period and shall apply to base salary earned subsequent to the deferral election’s becoming effective.

3.4            Outside Director Deferral Elections.  In order to elect to defer a portion of his Annual Retainer earned during a Plan Year, an Outside Director shall submit an irrevocable Deferral Form with HPE before the beginning of such Plan Year, but no earlier than the first day of November preceding the Plan Year within which the deferral is to be made.  The portion of his Annual Retainer that an Outside Director elects to defer for a Plan Year shall be stated as a whole dollar amount.  Any failure to make an election shall be deemed to be an election for the same deferral amount and the same distribution date and form of payment for the following Plan Year as were in effect for such Outside Director for the current Plan Year.

3.5            Crediting of Deferrals.  Eligible Income deferred by a Participant under the Plan shall be credited to the Participant's Account as soon as administratively practicable after the amounts would have otherwise been paid to the Participant.

3.6            Vesting on Eligible Income.  A Participant shall at all times be 100% vested in any Eligible Income deferred under this Plan and credited to his Account.

3.7            Administrative Charges.  The administrative cost associated with this Plan may be debited to a Participant’s Account in a manner determined by the Plan Committee or its designee, in its sole discretion.

 

 

 

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ARTICLE IV:  MATCH ON DEFERRALS

4.1            HPE Matching Contributions.  At the end of each Plan Year, HPE shall credit a Match Eligible Employee's Account with HPE Matching Contributions.  The HPE Matching Contributions shall be applied only to the extent that the Match Eligible Employee’s Actual Pay exceeds the Code Section 401(a)(17) Limit for the Plan Year, and the rate of HPE Matching Contributions shall be equal to the weighted average of the various rates that applied (or would have applied) to such Employee under the Hewlett Packard Enterprise 401(k) Plan for the Plan Year, determined as if such Employee had participated in the 401(k) Plan for the entire Plan Year.  Notwithstanding the foregoing, the maximum amount of HPE Matching Contributions for a Plan Year for a Match Eligible Employee shall not exceed the maximum amount of match for which such Employee would be eligible under the Hewlett Packard Enterprise 401(k) Plan for the Plan Year.

4.2            Crediting of HPE Matching Contributions.  HPE Matching Contributions for a Plan Year shall be credited to the Accounts of Match Eligible Employees as soon as administratively practicable after the end of the Plan Year.  The Account of a Participant shall be credited with HPE Matching Contributions for a Plan Year only if such Participant has not terminated employment with HPE and its Affiliates prior to the end of the Plan Year, unless such termination is due to death, disability or is after Participant’s Retirement Date.

4.3            Vesting of HPE Matching Contributions.

(a)            Vesting Schedule.  A Participant's interest in HPE Matching Contributions shall vest as follows:

(i)            For Participants who are HP Participants (as defined in Appendix A, below) and who were fully vested in HP Matching Contributions credited to such Participant’s Account under the HP Plan (as defined in Appendix A, below), the Participant will be fully vested in HPE Matching Contributions credited to such Participant’s Account.

(ii)            For Participants not described in Section 4.3(a)(i) above, the Participant will be vested in HPE Matching Contributions credited to such Participant’s Account when such Participant would be vested in HPE Matching Contributions credited to his or her account under the Hewlett Packard Enterprise 401(k) Plan.  Notwithstanding the foregoing, a Participant will be fully vested in HPE Matching Contributions credited to his or her Account if the Participant’s employment with HPE and its Affiliates is terminated (A) due to death or disability, (B) after the Participant has reached his or her Retirement Date, or (C) if the Participant terminates employment from HPE or an Affiliate in connection with a sale or other disposition by HPE or the Affiliate of the business unit in which the Participant had been employed.

(b)              Forfeiture of HPE Matching Contributions.  Except as otherwise provided above, upon termination of employment with HPE and its Affiliates, a Participant shall forfeit the nonvested portion of his or her Account and applicable earnings thereon.

ARTICLE V:  INVESTMENT OPTIONS, EARNINGS CREDITED AND DISTRIBUTION

OF ACCOUNT BALANCE

5.1            Investment Options and Earnings

 

 

 

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(a)            Investment Options and Procedures.  HPE shall select the Investment Options to be available under the Plan, and shall specify procedures by which a Participant may make an election as to the deemed investment of amounts credited to his Accounts among the Investment Options, as well as the procedures by which a Participant may change his investment selection.  Nothing in this Plan, however, will require HPE to invest any amounts in such Investment Options or otherwise.

(b)            Earnings.  HPE shall periodically credit gains, losses and earnings to a Participant's Account, until the full balance of the Account has been distributed.  Amounts shall be credited to a Participant's Account under this Section based on the results that would have been achieved had amounts credited to the Account been invested as soon as practicable after crediting into the Investment Options selected by the Participant.

Any portion of an Incentive Award that qualifies as "performance-based compensation" under Code section 162(m) and is deferred under the Plan by a Participant who qualifies as a "covered employee" under Code section 162(m) shall be credited with earnings and otherwise administered in a manner so that the ultimate payment(s) of the deferred amount remains so qualified.

5.2            Time and Form of Payment Elections

(a)            The Deferral Form.  Each Deferral Form shall specify the date on which payment of the aggregate of the deferred amount and any HPE Matching Contributions for the Plan Year (and earnings thereon) is to commence.  Such payment date shall be at least three (3) years after the Plan Year in which the deferrals are being made.  Each Deferral Form shall also specify the form for payment of the deferred amount and any HPE Matching Contributions for the Plan Year (and earnings thereon).  A Participant may elect payment in the form of a single lump sum payment or annual installment payments for a period of not less than two (2) but no more than fifteen (15) years.  Annual installment payments will be paid once a year beginning on the date specified on the applicable Deferral Form or as otherwise provided herein.

(i)            Default Elections.  If a Participant fails to specify the date on which payment of the deferred amount and any HPE Matching Contributions for the Plan Year (and earnings thereon) is to commence, then Participant will be deemed to have elected distribution at Participant’s Termination Date, subject to Sections 5.3 or 5.4 below.  If a Participant fails to make an effective payment form designation on a Deferral Form, the amount deferred and any HPE Matching Contributions for the Plan Year (and earnings thereon) under such Deferral Form will be distributed in a single lump sum in the year elected.

(b)            Payment shall be made in January of the year that a Participant elects for a distribution.

(c)            A Participant may also elect on a Deferral Form that payments of that Plan Year’s deferrals and any HPE Matching Contributions (and earnings thereon) shall be paid in January of the year following the year in which the Participant’s Termination Date occurs (in the case of installment payments, the first installment shall be paid in the January following the Participant’s Termination Date, and subsequent installments shall be made each January thereafter), if the Participant’s Termination Date is after his Retirement Date or the Participant is an Outside Director.  

 

 

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(d)            Except for Participants who are Outside Directors, if a Participant’s Termination Date precedes his or her Retirement Date, such Participant shall be deemed to have elected on each Deferral Form that such Plan Year’s deferrals and any HPE Matching Contributions (and earnings thereon) shall be paid in a single lump sum at the following time, subject to Section 5.3 below:  (i) with respect to amounts attributable to Plan Years commencing before January 1, 2008, in the month following the month in which the Participant Terminates Employment, and (ii) with respect to amounts attributable to Plan Years commencing on or after January 1, 2008, in January of the year following the year in which the Participant Terminates Employment.

5.3            Automatic Distributions.  Notwithstanding any payment elections made on Deferral Forms and Section 5.2:

(a)            Distributions to Key Employees.  Distributions may not commence to a Key Employee upon a Termination of Employment before the date which is six months after the date of the Key Employee’s Termination of Employment.  If distributions are to be paid in a lump sum, such lump sum payment shall be distributed as follows:  (i) with respect to amounts attributable to Plan Years commencing before January 1, 2008, in the seventh month after the Termination of Employment, and (ii) with respect to amounts attributable to Plan Years commencing on or after January 1, 2008, in the later of (A) the seventh month after the Termination of Employment or (B) January of the year following the year of the Termination of Employment.  If distributions are to be paid in installments and the first installment is payable during this six-month period, such installment shall be distributed as follows:  (x) with respect to amounts attributable to Plan Years commencing before January 1, 2008, in the seventh month after the Termination of Employment, and (y) with respect to amounts attributable to Plan Years commencing on or after January 1, 2008, in the later of (I) the seventh month after the Termination of Employment or (II) January of the year following the year of the Termination of Employment, with subsequent installments to be made each January thereafter.

(b)            Distributions Upon Death.  If a Participant dies before full distribution of his Account balance, any balance shall be distributed in a lump sum payment to the Participant's Beneficiary in the month following the month in which the Participant's death occurs.

5.4            Withdrawals for Unforeseeable Emergency.  Upon approval by the Plan Committee, a Participant may withdraw all or any portion of his vested Account balance for an Unforeseeable Emergency.  The amounts distributed with respect to an Unforeseeable Emergency may not exceed the amounts necessary to satisfy such Unforeseeable Emergency plus amounts necessary to pay taxes reasonably anticipated as a result of the distribution, after taking into account the extent to which such hardship is or may be relieved through reimbursement or compensation by insurance or otherwise or by liquidation of the Participant's assets (to the extent the liquidation of such assets would not itself cause severe financial hardship) or by cessation of deferrals under this Plan.  "Unforeseeable Emergency" means for this purpose a severe financial hardship to a Participant resulting from an illness or accident of the Participant, the Participant's spouse, or a dependent (as defined in Code section 152(a)) of the Participant, loss of the Participant's property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant.  For the avoidance of doubt, a circumstance does not constitute an “Unforeseeable Emergency” for purposes of the Plan unless such circumstance constitutes an “unforeseeable emergency” as defined in Treas. Reg. § 1.409A-3(i)(3).  The amount withdrawn for an Unforeseeable Emergency is subject to a minimum of $10,000.  

 

 

 

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Notwithstanding Section 3.1, if the Plan Committee approves a distribution under this Section, the Participant's deferrals under the Plan shall cease.  The Participant will be allowed to enroll if eligible at the beginning of the next enrollment period following six (6) months after the date of distribution.

5.5            Effect of Taxation.  If the Internal Revenue Service or a court of competent jurisdiction determines that Plan benefits are includible in the gross income of a Participant under Code section 409A prior to actual receipt of the benefits, HPE shall immediately distribute the benefits found to be so includible to the Participant.

ARTICLE VI:  ADMINISTRATION

6.1            General Administration.  The Plan Committee shall be responsible for the operation and administration of the Plan and for carrying out the provisions hereof.  The Plan Committee shall have the full authority and discretion to make, amend, interpret, and enforce all appropriate rules and regulations for the administration of this Plan and decide or resolve any and all questions, including interpretations of this Plan, as may arise in connection with this Plan.  Any such action taken by the Plan Committee shall be final and conclusive on any party.  The Plan Committee’s prior exercise of discretionary authority shall not obligate it to exercise its authority in a like fashion thereafter.  The Committee and the Plan Committee shall be entitled to rely conclusively upon all tables, valuations, certificates, opinions and reports furnished by any actuary, accountant, controller, counsel or other person employed or engaged by HPE with respect to the Plan.  The Committee and the Plan Committee may, from time to time, delegate to others, including employees of HPE, such administrative duties as it sees fit.

6.2            Claims for Benefits:  The following applies to Participants who are not Outside Directors:

(a)            Filing a Claim.  A Participant or his authorized representative may file a claim for benefits under the Plan.  Any claim must be in writing and submitted to the Plan Committee or its delegate at such address as may be specified from time to time.  Claimants will be notified in writing of approved claims, which will be processed as claimed.  A claim is considered approved only if its approval is communicated in writing to a claimant.

(b)            Denial of Claim. In the case of the denial of a claim respecting benefits paid or payable with respect to a Participant, a written notice will be furnished to the claimant within 90 days of the date on which the claim is received.  If circumstances (such as for a meeting) require a longer period, the claimant will be notified in writing, prior to the expiration of the 90-day period, of the reasons for an extension of time; provided, however, that no extensions will be permitted beyond 90 days after the expiration of the initial 90-day period.

(c)            Reasons for Denial.  A denial or partial denial of a claim will be dated and signed on behalf of the Plan Committee and will clearly set forth:

(i)            the specific reason or reasons for the denial;

(ii)            specific reference to pertinent Plan provisions on which the denial is based;

(iii)            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

 

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(iv)            an explanation of the procedure for review of the denied or partially denied claim set forth below, including the claimant’s right to bring a civil action under ERISA section 502(a) following an adverse benefit determination on review.

(d)            Review of Denial.  Upon denial of a claim, in whole or in part, a claimant or his duly authorized representative will have the right to submit a written request to the Plan Committee for a full and fair review of the denied claim by filing a written notice of appeal with the Plan Committee within 60 days of the receipt by the claimant of written notice of the denial of the claim.  A claimant or the claimant’s authorized representative will have, 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 may submit issues and comments in writing, except for privileged or confidential documentation.  The review will take 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.

If the claimant fails to file a request for review within 60 days of the denial notification, the claim will be deemed abandoned and the claimant precluded from reasserting it.  If the claimant does file a request for review, his request must include a description of the issues and evidence he deems relevant.  Failure to raise issues or present evidence on review will preclude those issues or evidence from being presented in any subsequent proceeding or judicial review of the claim.

(e)            Decision Upon Review.  The Plan Committee or its delegate will provide a written decision on review.  If the claim is denied on review, the decision shall set forth:

(i)            the specific reason or reasons for the adverse determination;

(ii)            specific reference to pertinent Plan provisions on which the adverse determination is based;

(iii)            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

(iv)            a statement describing any voluntary appeal procedures offered by the Plan and the claimant’s right to obtain the information about such procedures, as well as a statement of the claimant’s right to bring a civil action under ERISA section 502(a).

A decision will be rendered no more than 60 days after the receipt of the request for review, except that such period may be extended for an additional 60 days if the Plan Committee determines that circumstances (such as for a meeting) require such extension.  If an extension of time is required, written notice of the extension will be furnished to the claimant before the end of the initial 60-day period.

(f)            Finality of Determinations; Exhaustion of Remedies.  To the extent permitted by law, decisions reached under the claims procedures set forth in this Section shall be final and binding on all parties. No legal action for benefits under the Plan shall be brought unless and until the claimant has exhausted his remedies under this Section. In any such legal action, the claimant may only present evidence and theories which the claimant presented during the claims procedure. Any claims which the claimant does not in good faith pursue through the 

 

 

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review stage of the procedure shall be treated as having been irrevocably waived. Judicial review of a claimant's denied claim shall be limited to a determination of whether the denial was an abuse of discretion based on the evidence and theories the claimant presented during the claims procedure. Any suit or legal action initiated by a claimant under the Plan must be brought by the claimant no later than one year following a final decision on the claim for benefits.  Notwithstanding the foregoing, in no event may a claimant initiate suit or legal action more than two years after the facts giving rise to the action occurred.  The foregoing limitations on suits or legal actions for benefits will apply in any forum where a claimant initiates such suit or legal action.

ARTICLE VII:  AMENDMENT AND TERMINATION

7.1            Amendment or Termination.  HPE reserves the right to amend or terminate the Plan when, in the sole discretion of HPE, such amendment or termination is advisable, pursuant to a resolution or other action taken by the Committee.

Any amendment or termination of the Plan will not affect the entitlement of any Participant or the Beneficiary of a Participant whose Termination Date occurs before the amendment or termination.  All benefits to which any Participant or Beneficiary may be entitled shall be determined under the Plan as in effect at the time of the Participant’s Termination Date and shall not be affected by any subsequent change in the provisions of the Plan; provided, that HPE reserves the right to change the Investment Options with respect to any Participant or Beneficiary.  Participants and Beneficiaries will be given notice prior to the discontinuance of the Plan, change in Investment Options available or reduction of any benefits provided by the Plan.

7.2            Effect of Amendment or Termination.  No amendment or termination of the Plan shall adversely affect the rights of any Participant to amounts credited to his Account as of the effective date of such amendment or termination.  Upon termination of the Plan, distribution of balances in Accounts shall be made to Participants and Beneficiaries in the manner and at the time described in Article V, unless HPE determines in its sole discretion that all such amounts shall be distributed upon termination in accordance with the requirements under Code section 409A.  Upon termination of the Plan, no further deferrals of Eligible Income shall be permitted; however, earnings, gains and losses shall continue to be credited to Account balances in accordance with Article V until the Account balances are fully distributed.

ARTICLE VIII:  GENERAL PROVISIONS

8.1            Rights Unsecured.  The right of a Participant or his Beneficiary to receive a distribution hereunder shall be an unsecured claim against the general assets of HPE, and neither the Participant nor his Beneficiary shall have any preferred rights in or against any amount credited to any Account or any other assets of HPE.  The Plan at all times shall be considered entirely unfunded for tax purposes.  Any funds set aside by HPE for the purpose of meetings its obligations under the Plan, including any amounts held by a trustee, shall continue for all purposes to be part of the general assets of HPE and shall be available to its general creditors in the event of HPE's bankruptcy or insolvency.  HPE's obligation under this Plan shall be that of an unfunded and unsecured promise to pay money in the future.

8.2            No Guarantee of Benefits.  Nothing contained in the Plan shall constitute a guarantee by HPE or any other person or entity that the assets of HPE will be sufficient to pay any benefits hereunder.  

 

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8.3            No Enlargement of Rights.  No Participant or Beneficiary shall have any right to receive a distribution under the Plan except in accordance with the terms of the Plan.  Establishment of the Plan shall not be construed to give any Participant the right to continue to be employed by or provide services to HPE.

8.4            Transferability.  No interest of any person in, or right to receive a distribution under, the Plan shall be subject in any manner to sale, transfer, assignment, pledge, attachment, garnishment, or other alienation or encumbrance of any kind; nor may such interest or right to receive a distribution be taken, either voluntarily or involuntarily for the satisfaction of the debts of, or other obligations or claims against, such person.

8.5            Applicable Law. To the extent not preempted by federal law, the Plan shall be governed by the laws of the State of Delaware.

8.6            Incapacity of Recipient.  If any person entitled to a distribution under the Plan is deemed by HPE to be incapable of personally receiving and giving a valid receipt for such payment, then, unless and until a claim for such payment shall have been made by a duly appointed guardian or other legal representative of such person, HPE may provide for such payment or any part thereof to be made to any other person or institution then contributing toward or providing for the care and maintenance of such person.  Any such payment shall be a payment for the account of such person and a complete discharge of any liability of HPE and the Plan with respect to the payment.

8.7            Taxes. HPE or other payor may withhold from a benefit payment under the Plan or a Participant's wages any federal, state, or local taxes required by law to be withheld with respect to a payment or accrual under the Plan, and shall report such payments and other Plan-related information to the appropriate governmental agencies as required under applicable laws.

8.8            Corporate Successors.  The Plan and the obligations of HPE under the Plan shall become the responsibility of any successor to HPE by reason of a transfer or sale of substantially all of the assets of HPE or by the merger or consolidation of HPE into or with any other corporation or other entity.

8.9            Unclaimed Benefits.  Each Participant shall keep HPE informed of his current address and the current address of his designated Beneficiary.  HPE shall not be obligated to search for the whereabouts of any person if the location of a person is not made known to HPE.

8.10            Severability.  In the event any provision of the Plan shall be held invalid or illegal for any reason, any illegality or invalidity shall not affect the remaining parts of the Plan, but the Plan shall be construed and enforced as if the illegal or invalid provision had never been inserted.

8.11            Words and Headings.  Words in the masculine gender shall include the feminine and the singular shall include the plural, and vice versa, unless qualified by the context.  Any headings used herein are included for ease of reference only, and are not to be construed so as to alter the terms hereof.

ARTICLE IX:  ROLLOVERS FROM OTHER PLANS

9.1            Discretion to Accept.  The Committee shall have complete authority and discretion, but no obligation, to establish an Account for a Rollover Participant and credit the Account with the amount transferred from the Rollover Participant's account in a Rollover Plan.  Amounts credited to such Accounts are fully subject to the provisions of this Plan.  Reference in the Plan to such a crediting as a "rollover" or "transfer" from a Rollover Plan is nominal in nature, and confers no additional rights upon a Rollover Participant other than those specifically set forth in the Plan.  

 

 

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9.2            Status of Rollover Participants.  A Rollover Participant and his Beneficiary are fully subject to the provisions of this Plan, except as otherwise expressly set forth herein.  A Rollover Participant who is not already a Participant in the Plan and is not otherwise eligible to participate in the Plan at the time of rollover, shall not be entitled to make any additional deferrals under the Plan unless and until he has become eligible to do so under the terms of the Plan.

9.3            Payments to Rollover Participants.  Payments from a Rollover Participant's Account shall be made in accordance with the form and timing of payment provisions of the Rollover Plan.

IN WITNESS WHEREOF, HEWLETT PACKARD ENTERPRISE COMPANY has caused this Hewlett Packard Enterprise Executive Deferred Compensation Plan, effective November 1, 2015, to be executed on this _____ day of ________________, 2015.

HEWLETT PACKARD ENTERPRISE COMPANY

	 

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APPENDIX A – HP INC. SPIN-OFF

A.1            Background

HPE was a subsidiary of HP Inc. (“HP”) prior to November 1, 2015 (the “Effective Date”).  On the Effective Date, pursuant to an agreement between HPE and HP, the liabilities for certain participants' benefits under the HP Inc. 2005 Executive Deferred Compensation Plan (the "HP Plan"), were transferred to HPE and to this Plan.  The Participants whose benefits were transferred to this Plan on the Effective Date are referred to below as "HP Participants."  The rules in this Appendix shall apply notwithstanding any Plan provisions to the contrary.

A.2            Plan Benefits

HP Participants who qualified as eligible employees under the HP Plan on the Effective Date shall be Eligible Employees under this Plan on such date.  All service and compensation that was taken into account for purposes of determining the amount of an HP Participant's benefit or his vested right to a benefit under the HP Plan as of the Effective Date shall be taken into account for the same purposes under this Plan.

A.3            Distributions

The terms of this Plan shall govern the distribution of all benefits payable to an HP Participant or any other person with a right to receive such benefits, including amounts accrued under the HP Plan and then transferred to this Plan.

A.4            Termination and Key Employees

For avoidance of doubt, no HP Participant shall be treated as incurring a separation from service, termination of employment, retirement, or similar event for purposes of determining the right to a distribution (for amounts subject to Code section 409A or otherwise), vesting, benefits, or any other purpose under the Plan as a result of HP’s distribution of HPE shares to HP shareholders.  Also, HPE’s Key Employees shall be determined in accordance with the special rules for spin-offs under Treas. Reg. §1.409A-1(i)(6)(iii), or any successor thereto, for the period indicated in such regulation.

A.5            Participant Elections

All elections made by HP Participants under the HP Plan, including any deferral elections, payment elections, and beneficiary designations, shall apply to the same effect under this Plan as if made under the terms of this Plan.

A.6            References to Plan

All references in this Plan to the "Plan" as in effect before the Effective Date shall be read as references to the HP Plan.

A.7            Right to Benefits

With respect to any recordkeeping account established to determine a benefit provided or due under the HP Plan at any time, no benefit will be due under the Plan except with respect to the portion of such recordkeeping account reflecting the liability transferred from the HP Plan to the Plan on the Effective Date.  Additionally, on and after the Effective Date, HP and the HP Plan, and any successors thereto shall have no further obligation or liability to any HP Participant with respect to any benefit, amount, or right due under the HP Plan.

	 

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