SEC Contract Filing

Filing Date: 2018-02-02

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>a18-5258_1ex10d1.htm
<DESCRIPTION>EX-10.1
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;10.1</font></b><a name="Exhibit10_1_060719"></a></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AMERICAN STATES WATER COMPANY</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2016 STOCK INCENTIVE PLAN</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2018 PERFORMANCE AWARD AGREEMENT</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THIS PERFORMANCE AWARD AGREEMENT</font></b> (this &#147;<b>Agreement&#148;</b>) is dated as of [&nbsp;], 2018 by and between American States Water Company, a California corporation (the &#147;<b>Corporation</b>&#148;), and [ ] (the &#147;<b>Participant</b>&#148;).</p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">W I T N E S S E T H</font></b></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b>, pursuant to the American States Water Company 2016 Stock Incentive Plan (the &#147;<b>Plan</b>&#148;), the Corporation has granted to the Participant effective as of the date hereof (the &#147;<b>Award Date</b>&#148;), an award of Performance Awards under the Plan (the &#147;<b>Award</b>&#148;), upon the terms and conditions set forth herein and in the Plan; and</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b>, this Award is being granted pursuant to Section&nbsp;4 of the Plan and is not intended to be &#147;performance-based compensation&#148; within the meaning of Section&nbsp;162(m)&nbsp;of the Code as in effect prior to the enactment of the Tax Cut and Jobs Act of 2017.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOW, THEREFORE</font></b>, in consideration of services rendered and to be rendered by the Participant, and the mutual promises made herein and the mutual benefits to be derived therefrom, the parties agree as follows:</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.&nbsp;<u>Defined Terms</u>.</font></b> Capitalized terms used herein and not otherwise defined herein shall have the meaning assigned to such terms in the Plan. The following phrases shall have the following meanings:</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;<b>Aggregate GSWC Operating Expense Level</b>&#148; means the cumulative operating expenses of the Water Segment as reported in the Corporation&#146;s Form&nbsp;10-Ks filed with the Securities and Exchange Commission for the period beginning January&nbsp;1, 2018 and ending on the last day of the Performance Period, as adjusted to remove (i)&nbsp;Water Supply, depreciation and amortization and maintenance expenses as reported in such Form&nbsp;10-Ks, (ii)&nbsp;public relations, legal and other professional services expenses of GSWC during the Performance Period applicable to defending GSWC from condemnation considerations and actions applicable to the Water Segment, (iii)&nbsp;any costs of defense, costs of settlement and judgments incurred in connection with claims arising from water quality incidences accruing during the Performance Period which are incurred in connection with claims determined by the Compensation Committee to be extraordinary events, (iv)&nbsp;write-offs associated with decisions or actions of the CPUC applicable to the financial statements in the Performance Period for the Water Segment, and (v)&nbsp;gross-up of certain surcharges authorized by the CPUC to recover previously incurred costs recorded pursuant to generally accepted accounting principles.</font></p>
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