SEC Contract Filing

Filing Date: 2015-06-02

Document Content:
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<TYPE>EX-10.11
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<FILENAME>d922493dex1011.htm
<DESCRIPTION>EX-10.11
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.11 </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Talen Energy </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Stock
Incentive Plan </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Form of Restricted Stock Unit Agreement </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><I>Participant:</I></TD>
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<TD VALIGN="top"><I>Date of Grant:</I></TD></TR>
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<TD VALIGN="top"><I>Number of RSUs:</I></TD>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1. <U>Grant of RSUs</U>. The Company hereby grants the number of [performance contingent] restricted stock
units (&#147;RSUs&#148;) listed above to the Participant, on the terms and conditions hereinafter set forth. This grant is made pursuant to the terms of the Talen Energy Stock Incentive Plan (the &#147;Plan&#148;), which Plan, as amended from time
to time, is incorporated herein by reference and made a part of this Agreement<B>. </B>Each RSU represents the unfunded, unsecured right of the Participant to receive a Share on the date(s) specified herein. Capitalized terms not otherwise defined
herein shall have the same meanings as in the Plan. All RSUs and Shares issued in connection with RSUs are subject to forfeiture in accordance with the Talen Energy Corporation Policy Regarding Recoupment of Executive Compensation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">2. <U>Vesting/Form and Timing of Issuance or Transfer</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Subject to the Participant&#146;s continued Employment with the Company and its Affiliates through the vesting date set forth on Exhibit A
attached hereto (the &#147;Vesting Date&#148;), 100% of the RSUs shall vest upon each such Vesting Date and the Company shall, within 30 days following the relevant Vesting Date, issue or cause there to be transferred to the Participant the
corresponding number of Shares equal to the number of vested RSUs. Notwithstanding the preceding sentence, 100% of the outstanding RSUs shall vest upon (i)&nbsp;the Participant&#146;s termination of Employment by the Company and its Affiliates
without Cause or by the Participant with Good Reason during the 24 month period following a Change in Control or (ii)&nbsp;the Participant&#146;s termination of Employment due to death or Disability (each of the termination events described under
clause (i)&nbsp;and (ii)&nbsp;being a &#147;Qualifying Termination&#148;). The Shares underlying any portion of the RSUs that vest in accordance with the preceding sentence shall be delivered to the Participant on the date that is 6 months and one
day following the date of the Participant&#146;s termination of Employment. Upon the Participant&#146;s termination of Employment with the Company or any Affiliate for any reason other than due to a Qualifying Termination, all RSUs that did not
become vested on or prior to such date shall immediately terminate and be forfeited without consideration and no Shares shall be delivered hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Upon the issuance or transfer of Shares in accordance with Section&nbsp;2(a) of this Agreement, the number of RSUs equal to the number of
Shares issued or transferred to the Participant shall be extinguished. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) For purposes of this Agreement: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) &#147;Cause&#148; shall mean &#147;Cause&#148; as defined in any employment, severance, or similar agreement then in effect
between the Participant and any of the Company or its Affiliates, or, if no such agreement containing a definition of &#147;Cause&#148; is then in effect or if such term is not defined therein, &#147;Cause&#148; shall mean
(i)&nbsp;Participant&#146;s engagement in misconduct which is materially injurious to the Company or its Affiliates, (ii)&nbsp;Participant&#146;s </P>

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insubordination after clear and lawful direction , (iii)&nbsp;Participant&#146;s commission of a felony in the performance of duties to the Company, (iv)&nbsp;Participant&#146;s commission of an
act or acts constituting any fraud against, or embezzlement from the Company or any of its Affiliates (v)&nbsp;Participant&#146;s material breach of any confidentiality or non-competition covenant entered into between the Participant and the
Company, or (vi)&nbsp;Participant&#146