Common use of Value of the Stock Unit Award Clause in Contracts

Value of the Stock Unit Award. Upon the lifting of the restrictions, the Grantee shall be paid, for each Stock Unit Award, in cash, the Fair Market Value of one share of Common Stock on the date the restrictions lapse no later than 30 days after the lifting of such restrictions; provided, however, if the restrictions are being lifted as of December 31, 2011 and the Grantee is not then in compliance with the share ownership guidelines established by the Vectren Corporation (Company) board of directors, at that time the value of each Stock Unit Award shall be paid to the Grantee in one unrestricted share of the Company’s common stock. The determination of compliance will be made by valuing the Grantee’s ownership interest by averaging the high and low prices of a share of the Company’s common stock during the preceding month of November and comparing the resulting amount of ownership interest against the then applicable share ownership guideline.

Value of the Stock Unit Award. Upon Within thirty days after the lifting of the restrictions, the Grantee shall be paid, for each Stock Unit Award, in cash, the Fair Market Value of one share of the Company’s Common Stock on the date the restrictions lapse no later than 30 days after the lifting of such restrictionslapse; provided, however, if the restrictions are being lifted as of December 31January 1, 2011 2016 and the Grantee is not then in compliance with the share ownership guidelines established by the Vectren Corporation Company’s Board of Directors (Company) board of directorsBoard), at that time the value of each Stock Unit Award shall be paid to the Grantee in one unrestricted share of the Company’s common stock. The determination of compliance will be made by valuing the Grantee’s ownership interest by averaging the high and low prices of a share of the Company’s common stock during the preceding month of November December and comparing the resulting amount of ownership interest against the then applicable share ownership guideline.

Value of the Stock Unit Award. Upon Within thirty days after the lifting of the restrictions, the Grantee shall be paid, for each Stock Unit Award, in cash, the Fair Market Value of one share of the Company’s Common Stock on the date the restrictions lapse no later than 30 days after the lifting of such restrictionslapse; provided, however, if the restrictions are being lifted as of December 31January 1, 2011 2020 and the Grantee is not then in compliance with the share ownership guidelines established by the Vectren Corporation Company’s Board of Directors (Company) board of directors“Board”), at that time the value of each Stock Unit Award shall be paid to the Grantee in one unrestricted share of the Company’s common stockCommon Stock. The determination of compliance will be made by valuing the Grantee’s ownership interest by averaging the high and low prices of a share of the Company’s common stock Common Stock during the preceding month of November December and comparing the resulting amount of ownership interest against the then applicable share ownership guideline.

Value of the Stock Unit Award. Upon Within thirty days after the lifting of the restrictions, the Grantee shall be paid, for each Stock Unit Award, in cash, the Fair Market Value of one share of the Company’s Common Stock on the date the restrictions lapse no later than 30 days after the lifting of such restrictionslapse; provided, however, if the restrictions are being lifted as of December 31May 1, 2011 2010 and the Grantee is not then in compliance with the share ownership guidelines established by the Vectren Corporation Company’s Board of Directors (Company) board of directorsBoard), at that time the value of each Stock Unit Award shall be paid to the Grantee in one unrestricted share of the Company’s common stock. The determination of compliance will be made by valuing the Grantee’s ownership interest by averaging the high and low prices of a share of the Company’s common stock during the preceding month of November April and comparing the resulting amount of ownership interest against the then applicable share ownership guideline.