SEC Contract Filing

Filing Date: 2017-11-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>duk-20170930x10qxexx101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2017 Workiva -->
 <title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s6C8C19E096A6B1BFE3BB5A0E962F1E1C"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.1</font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">AMENDMENT TO</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">DUKE ENERGY CORPORATION</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXECUTIVE SAVINGS PLAN</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">(Amended and Restated Effective as of January 1, 2014)</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, Duke Energy Corporation (the &#8220;Company&#8221;) maintains the Duke Energy Corporation Executive Savings Plan (Amended and Restated Effective as of January 1, 2014) (the &#8220;Plan&#8221;); and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, on October 3, 2016, the Company acquired Piedmont Natural Gas Company, Inc. (&#8220;Piedmont&#8221;) and Piedmont is now a wholly-owned subsidiary of the Company; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, Piedmont maintains the Piedmont Natural Gas Company, Inc. Defined Contribution Restoration Plan (the &#8220;Legacy Piedmont Plan&#8221;); and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Company desires, effective as of January 1, 2018, to (i) freeze the Legacy Piedmont Plan, so that no further contributions will be made to the accounts of participants in the Legacy Piedmont Plan, and (ii) merge the Legacy Piedmont Plan into the Plan, without changing the time or form of payment of benefits in effect under the Legacy Piedmont Plan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, the Plan is hereby amended, effective as of January 1, 2018, as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.&#160;&#160;&#160;&#160;The following new Sections are hereby added immediately after Section 2.28 to read as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.28A&#160;&#160;&#160;&#160;&#8220;Legacy Piedmont Plan&#8221; shall mean the Piedmont Natural Gas Company, Inc. Defined Contribution Restoration Plan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.28B&#160;&#160;&#160;&#160;&#8220;Legacy Piedmont Subaccounts&#8221; shall have the meaning provided in Section 6.3.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.&#160;&#160;&#160;&#160;The last sentence of Section 2.39 is hereby amended to read as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">With respect to Post-2004 Deferrals attributable to the Legacy Progress Plans and the Legacy Piedmont Plan, the definition of Affiliated Group as used in this Section shall be modified by deleting the phrase &#8220;at least 45 percent&#8221; each place it appears and inserting the phrase &#8220;at least 50 percent&#8221; in lieu thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.&#160;&#160;&#160;&#160;The first sentence of Section 5.1 is hereby amended to read as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">As described in more detail in Appendix A, the Plan governs the terms and conditions of all or a portion of the amounts previously earned under the following plans (each a &#8220;Prior Plan&#8221;): (i) the Duke Power Company Compensation Deferral Plan, first effective as of July 1, 1983 (&#8220;CDP&#8221;), (ii) the Panhandle Eastern Corporation Key Executive Deferred Compensation Plan as amended and restated January 1, 1996 (&#8220;KEDCP&#8221;), (iii) the Crescent Resources Incentive Deferral Plan (&#8220;CRIDP&#8221;), (iv) the Company's Supplementary Defined Contribution Plan, (v) the Company's Incentive Deferral Plan, (vi) the Cinergy Corp.