SEC Contract Filing

Filing Date: 2021-07-22

Document Content:
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>2
<FILENAME>ex10aep20212q.htm
<DESCRIPTION>EX-10
<TEXT>
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<title>Document</title></head><body><div id="iadc4a23880a143fc860f2d0693b9532b_58"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:174%">Exhibit 10</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">GENERAL SEVERANCE, STOCK AWARD AND RELEASE OF ALL CLAIMS AGREEMENT</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Severance, Stock Award and Release of All Claims Agreement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (&#34;Agreement&#34;) is entered into by and between </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Brian X. Tierney</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, herein after referred to, together with his heirs, executors, administrators, successors, assigns and personal representatives, as &#34;Employee&#34;, and American Electric Power Company Inc., hereinafter referred to, together with all its past, present and future affiliated, parent and&#47;or subsidiary organizations and divisions, and all past, present and future officers, directors, members, employees and agents of each, in both their individual and representative capacities, as the &#34;Company&#34;. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In consideration of the promises set forth in this Agreement, Employee and the Company agree as follows&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Termination of Employment&#59; Resignation</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The parties acknowledge that Employee&#8217;s employment relationship with the Company will cease at the close of business on July 1, 2021, or such other date that Employee and the Company mutually agree (the &#8220;Termination Date&#8221;). Pending the Termination Date, the Company reserves the right to change the responsibilities of Employee. Employee hereby resigns effective at the close of business on the Termination Date, (a) as an employee of the Company, (b) to the extent Employee has not already then done so, from all Company boards, committees, and offices, including those of any parent, affiliate or subsidiary of the Company, and (c) from all administrative, fiduciary or other positions Employee may hold or have held relating to the Company. The Company consents to and accepts all such resignations. Employee agrees to make himself available for assigned duties and adhere to Company policy through and including the Termination Date. Employee further agrees to execute a release comparable to that set forth in this Agreement following the Termination Date.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Severance Payments</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. (A) </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Lump Sum Payment.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company shall pay Employee the amount of $619,000 in gross pay subject to deductions to be made as required by law and, if applicable, to repay the pay advance made to Employee on or about April 12, 2001, that is not deducted from other amounts paid or payable to Employee. </font></div><div style="text-alig