SEC Contract Filing

Filing Date: 2021-11-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2132901d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right">Exhibit 10.1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">COOPERATION AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Cooperation Agreement
(this &ldquo;<B>Agreement</B>&rdquo;), dated as of November 13, 2021, is by and among Elliott Investment Management L.P., a Delaware limited
partnership, Elliott Associates, L.P., a Delaware limited partnership, and Elliott International, L.P., a Cayman Islands limited partnership
(each, an &ldquo;<B>Elliott Party</B>,&rdquo; and together, the &ldquo;<B>Elliott Parties</B>&rdquo;), and Duke Energy Corporation, a
Delaware corporation (the &ldquo;<B>Company</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company and the
Elliott Parties have engaged in certain discussions concerning the Company; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company and the
Elliott Parties desire to enter into an agreement regarding the appointment of certain new independent directors selected in accordance
with the terms hereof to the Board of Directors of the Company (the &ldquo;<B>Board</B>&rdquo;) and certain other matters, in each case,
on the terms and subject to the conditions set forth therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of and reliance upon the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the Elliott Parties and the Company agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Board
of Directors</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>New
Independent Director</U>. Within one (1) business day (as defined below) following the date hereof, the Board and all applicable committees
thereof shall take (or shall have taken) such actions as are necessary to appoint Idalene Kesner (the &ldquo;<FONT STYLE="color: windowtext"><B>New
Independent Director</B></FONT>&rdquo;) as a member of the Board with an initial term expiring at the Company&rsquo;s 2022 Annual Meeting
of Shareholders (the &ldquo;<FONT STYLE="color: windowtext"><B>2022 Annual Meeting</B></FONT>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Additional
New Independent Director</U>. Subject to the following sentence of this Section 1(b), the Company and the Elliott Parties shall
cooperate to identify and mutually agree upon a director candidate having such expertise and skills as shall be determined by the
Corporate Governance Committee of the Board (the &ldquo;<FONT STYLE="color: windowtext"><B>Corporate Governance
Committee</B></FONT>&rdquo;) in accordance with and subject to the Company Policies (as defined below), the charter of the Corporate
Governance Committee and the Company&rsquo;s policies and procedures of general application to members of the Board and applicable
law (the &ldquo;<FONT STYLE="color: windowtext"><B>Additional New Independent Director</B></FONT>&rdquo;, and together with the New
Independent Director, the &ldquo;<FONT STYLE="color: windowtext"><B>New Directors</B></FONT>&rdquo;), and the Board and all
applicable committees thereof shall take (or shall have taken) such actions as are necessary to appoint the Additional New
Independent Director as a member of the Board with an initial term expiring at the 2022 Annual Meeting, and the Company and the
Elliott Parties agree such appointment shall take place not later than March 31, 2022 (with the Elliott Parties and the Company
using their respective good faith eff