{"id":40359,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/restricted-stock-unit-award-agreement-aes-corp.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"restricted-stock-unit-award-agreement-aes-corp","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/restricted-stock-unit-award-agreement-aes-corp.html","title":{"rendered":"Restricted Stock Unit Award Agreement – AES Corp."},"content":{"rendered":"

RESTRICTED STOCK UNIT AWARD AGREEMENT <\/strong><\/p>\n

PURSUANT TO <\/strong><\/p>\n

THE AES CORPORATION 2003 LONG TERM COMPENSATION PLAN
\n<\/strong><\/p>\n

The AES Corporation, a Delaware corporation (the “Company”), grants to the
\nEmployee named below, pursuant to The AES Corporation 2003 Long Term
\nCompensation Plan, as amended (the “Plan”) and this Restricted Stock Unit Award
\nAgreement (this “Agreement”), this Award of Restricted Stock Units (“RSUs”) upon
\nthe terms and conditions set forth herein. Capitalized terms not otherwise
\ndefined herein will each have the meaning assigned to them in the Plan.<\/p>\n\n\n\n
\n

1.<\/p>\n<\/td>\n

\n

This Award of RSUs is subject to all terms and conditions of this Agreement
\nand the Plan, the terms of which are incorporated herein by reference:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Name of Employee:<\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\n

Fidelity System ID:<\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\n

Grant Date:<\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\n

Grant Price:<\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\n

Total Number of RSUs Granted:<\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

2.<\/p>\n<\/td>\n

\n

Each RSU represents a right to receive one Share on the appropriate Vesting
\nDate (as defined below) in accordance with the terms of this Agreement;
\nprovided, however, that in lieu of delivery of a Share, the Committee may, in
\nits discretion, cause the Company to deliver cash having a Fair Market Value
\nequivalent to a Share. Any payment due to the Employee under this Agreement
\nshall be made promptly following the date the RSUs vest under paragraph 4 or 5
\nof this Agreement, but in no event later than March 15th<\/sup> of the
\ncalendar year following the calendar year in which the RSUs vest.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

3.<\/p>\n<\/td>\n

\n

An RSU (i) does not represent an equity interest in the Company, (ii) carries
\nno voting, dividend or dividend equivalent rights, and (iii) the holder will not
\nhave an equity interest in the Company or any of such shareholder rights, unless
\nthe vesting conditions of the RSU are met and the RSU is paid out with a Share
\nrather than cash.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

4.<\/p>\n<\/td>\n

\n

This Award of RSUs will vest, in accordance with and subject to the terms of
\nthis Agreement, in three equal installments on February , , February , , and
\nFebruary , , (each a “Vesting Date”) provided, however, that if:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(A)<\/p>\n<\/td>\n

\n

the Employee Separates from Service prior to the applicable Vesting Date by
\nreason of the Employee’s death or a Separation from Service on account of
\nDisability, all RSUs that have not previously vested shall vest and be paid to
\nthe Employee; and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(B)<\/p>\n<\/td>\n

\n

if the Employee Separates from Service prior to the applicable Vesting
\nDate for any reason, <\/em>including, but not limited to, voluntarily by the
\nEmployee, on account of Retirement, or by reason of a <\/em>Separation from
\nService by the Company with or without cause (other than by reason of death
\nor Disability)<\/em>, all RSUs that have not previously vested shall be
\nimmediately cancelled and forfeited without payment or further obligation by the
\nCompany or any Affiliate.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

5.<\/p>\n<\/td>\n

\n

In the event that a Change of Control occurs prior to the applicable Vesting
\nDate, if the RSUs described herein have not already been previously forfeited or
\ncancelled, such RSUs will become fully vested contemporaneous with the
\ncompletion of the Change of Control; provided, however, that in connection with
\na Change in Control and certain other events, payment of any obligation payable
\npursuant to the preceding sentence may be made in cash of equivalent value
\nand\/or securities or other property in the Committee’s discretion.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1<\/p>\n

\n\n\n\n
\n

6.<\/p>\n<\/td>\n

\n

It is intended that under current U.S. federal income tax laws, the Employee
\nwill not be subject to income tax unless and until Shares and\/or cash are
\ndelivered to the Employee on the Vesting Date, at which time the Fair Market
\nValue of the Shares and\/or cash will be reportable as ordinary income, and
\nsubject to income tax withholding as well as social security and Medicare (FICA)
\ntaxes. The Company and its subsidiaries and affiliates have the right (i) to
\nwithhold any tax required to be withheld in connection with this Award of RSUs
\nfrom Shares and\/or cash otherwise deliverable to the Employee or from any other
\npayment to be made to the Employee, or (ii) to otherwise condition the
\nEmployee’s right to receive or retain the Shares and\/or cash on the Employee
\nmaking arrangements satisfactory to the Company or any of its subsidiaries or
\naffiliates to enable any related tax obligation of the Employee to be satisfied.
\nThe Employee should consult his or her personal advisor to determine the effect
\nof this Award of RSUs on his or her own tax situation.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

7.<\/p>\n<\/td>\n

\n

Notices hereunder and under the Plan, if to the Company, will be delivered to
\nthe Plan Administrator (as so designated by the Company) or mailed to the
\nCompany’s principal office, 4300 Wilson Boulevard, Arlington, VA 22203,
\nattention of the Plan Administrator, or, if to the Employee, will be delivered
\nto the Employee or mailed to his or her address as the same appears on the
\nrecords of the Company.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

8.<\/p>\n<\/td>\n

\n

All decisions and interpretations made by the Board of Directors or the
\nCommittee with regard to any question arising hereunder or under the Plan will
\nbe binding and conclusive on all persons. Unless otherwise specifically provided
\nherein, in the event of any inconsistency between the terms of this Agreement
\nand the Plan, the Plan will govern.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

9.<\/p>\n<\/td>\n

\n

By accepting this Award of RSUs, the Employee acknowledges receipt of a copy
\nof the Plan and the prospectus relating to this Award of RSUs, and agrees to be
\nbound by the terms and conditions set forth in this Agreement and the Plan, as
\nin effect and\/or amended from time to time.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

10.<\/p>\n<\/td>\n

\n

This Award is intended to be excepted from coverage under Section 409A of the
\nCode and shall be administered, interpreted and construed accordingly. The
\nEmployee shall have no right to designate the date of any payment under this
\nAgreement. Each payment under this Agreement is intended to be excepted under
\nthe short-term deferral exception as specified in Treas. Reg. \u00a7 1.409A-1(b)(4)
\nThe Company may, in its sole discretion and without the Employee’s consent,
\nmodify or amend the terms and conditions of this Award, impose conditions on the
\ntiming and effectiveness of the issuance of the Shares, or take any other action
\nit deems necessary or advisable, to cause this Award to comply with Section 409A
\nof the Code (or an exception thereto). Notwithstanding, the Employee recognizes
\nand acknowledges that Section 409A of the Code may impose upon the Employee
\ncertain taxes or interest charges for which the Employee is and shall remain
\nsolely responsible.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

2<\/p>\n

\n\n\n\n
\n

11.<\/p>\n<\/td>\n

\n

This Agreement will be governed by the laws of the State of Delaware without
\ngiving effect to its choice of law provisions.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

The AES CORPORATION<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/tr>\n
\n

By:<\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/tr>\n
\n

Name: Rita Trehan<\/p>\n<\/td>\n<\/tr>\n

\n

Title: Vice President, Human Resources<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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