SEC Contract Filing

Filing Date: 2015-05-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.B
<SEQUENCE>4
<FILENAME>exhibit10b.htm
<DESCRIPTION>EXHIBIT 10B
<TEXT>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit
10(b)</B></FONT></P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">AMENDMENT
NO. 6</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">TO</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">PPL
CORPORATION</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">DIRECTORS
DEFERRED COMPENSATION PLAN</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>WHEREAS</B>,
PPL Services Corporation (&ldquo;<U>PPL</U>&rdquo;) assumed sponsorship of the PPL Corporation Directors Deferred Compensation
Plan (the &ldquo;<U>Plan</U>&rdquo;) effective July 1, 2000; and</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>WHEREAS</B>,
the Plan was most recently amended and restated effective February 14, 2000, and subsequently amended by Amendments No. 1, 2,
3, 4 and 5; and</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>WHEREAS</B>,
PPL desires to further amend the Plan and the PPL Corporation Employee Benefit Plan Board has authorized the following changes.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>NOW,
THEREFORE</B>, the Plan is hereby amended as follows:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">I.
Effective as of the Separation Time, Paragraph 7.1 is amended to read:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)</FONT></P>

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<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Notwithstanding
 anything to the contrary, upon the Separation Time, Participant&rsquo;s Stock Account
 shall be credited for each share of PPL Corporation Common Stock in such Stock Account
 with a number of Talen Energy Corporation (&ldquo;<U>Talen</U>&rdquo;) Restricted Stock
 Units to be calculated to be the same as the number of shares of common stock of Talen
 (&ldquo;<U>Talen Common Stock</U>&rdquo;) that would be received in respect of PPL Corporation
 Common Stock pursuant to the Separation Agreement and the Transaction Agreement. Each
 restricted stock unit of Talen (each, a &ldquo;<U>Talen Restricted Stock Unit</U>&rdquo;)
 that is credited to Participant&rsquo;s Stock Account shall be subject to vesting, transfer
 and settlement restrictions that are substantially identical to such vesting, transfer
 and settlement restrictions that applied to Participant&rsquo;s Stock Units immediately
 before the Separation Time; <U>provided</U>, <U>however</U>, that in no event shall a
 Participant be permitted (A) to elect to convert all or any portion of such Participant&rsquo;s
 Stock Account or Cash Account into additional Talen Restricted Stock Units or (B) to
 convert the Talen Restricted Stock Units into Stock Units of PPL Corporation Common Stock;
 and <U>provided</U> <U>further</U> that the EBPB may impose any additional restrictions
 on Participants&rsquo; ability (if at all) to convert Talen Restricted Stock Units as
 the EBPB may determine in its sole discretion.</FONT></TD><