SEC Contract Filing

Filing Date: 2016-03-14

Document Content:
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<TYPE>EX-10.6
<SEQUENCE>7
<FILENAME>a16-6218_1ex10d6.htm
<DESCRIPTION>EX-10.6
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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;10.6</font></b></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;">FORM OF NON-QUALIFIED STOCK OPTION AWARD AGREEMENT (CEO)</font></b></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THIS NON-QUALIFIED STOCK OPTION AWARD AGREEMENT</font></b> (this &#147;<u>Agreement</u>&#148;) is made as of the 8th day of March, 2016, between DYNEGY INC., a Delaware corporation (&#147;<u>Dynegy</u>&#148;), and all of its Affiliates (collectively, the &#147;<u>Company</u>&#148;), and Robert Flexon (&#147;<u>Employee</u>&#148;).&#160; A copy of the Dynegy Inc. 2012 Long Term Incentive Plan (the &#147;<u>Plan</u>&#148;) is annexed to this Agreement and shall be deemed a part of this Agreement as if fully set forth herein.&#160; Unless the context otherwise requires, all terms that are not defined herein but which are defined in the Plan shall have the same meaning given to them in the Plan when used herein.</p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">The Grant</u></b>.&#160; The Compensation and Human Resources Committee of the Board of Directors (the &#147;Committee&#148;) granted to Employee on March&nbsp;8, 2016 (&#147;<u>Effective Date</u>&#148;), as a matter of separate inducement and not in lieu of any salary or other compensation for Employee&#146;s services, the right and option to purchase (the &#147;<u>Option</u>&#148;), in accordance with the terms and conditions set forth in the Plan and in this Agreement, an aggregate number of shares (the &#147;<u>Shares</u>&#148;) of common stock of Dynegy, $0.01 par value per share (the &#147;Common Stock&#148;), at a price of [PRICE] per share (the &#147;<u>Exercise Price</u>&#148;).&#160; Employee acknowledges receipt of a copy of the Plan, and agrees that the Option shall be subject to all of the terms and provisions of the Plan, including future amendments thereto, if any, pursuant to the terms thereof, and to all of the terms and conditions of this Agreement.&#160; The Option shall not be treated as an incentive stock option within the meaning of Section&nbsp;422 of the Internal Revenue Code of 1986, as amended (the &#147;<u>Code</u>&#148;).&#160; The Exercise Price is, in the judgment of the Committee, not less than one hundred percent (100%) of the Fair Market Value of a share of the Common Stock on the Effective Date.</p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u style="font-weight:bold;">Exercise</u></b>.&#160; Subject to the provisions, limitations and other relevant provisions of the Plan and of this Agreement, and the earlier expiration of the Option as herein provided, Employee may exercise the Option to purchase some or all of the Shares as follows:</p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Option shall become exercisable in three cumulative equal annual installments as follows:</p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>on the first anniversary of the Effective Date, the right to purchase one-third of the aggregate number of Shares shall become exercisable without further action by the Committee;</p>
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