RESTRICTED STOCK AGREEMENT PURSUANT TO THE GREAT PLAINS ENERGY INCORPORATED LONG-TERM INCENTIVE PLAN EFFECTIVE MAY 7, 2002 (THE PLAN)
Exhibit
10.1.6
PURSUANT
TO THE
GREAT
PLAINS ENERGY INCORPORATED
LONG-TERM
INCENTIVE PLAN
EFFECTIVE
MAY 7, 2002 (THE PLAN)
Agreement
dated as of _____________, and entered into, in duplicate by and between GREAT
PLAINS ENERGY INCORPORATED (the Company) and _____________ (the
Grantee).
WHEREAS,
all capitalized terms used herein shall have the respective meanings set forth
in the Plan; and
WHEREAS,
the Grantee is employed by the Company or one of its subsidiaries in a key
capacity, and the Company desires to (i) encourage the Grantee to acquire a
proprietary and vested long-term interest in the growth and performance of
the
Company, (ii) provide the Grantee with the incentive to enhance the value of
the
Company for the benefit of its customers and shareholders, and (iii) encourage
the Grantee to remain in the employ of the Company as one of the key employees
upon whom the Company's success depends;
NOW,
THEREFORE, in consideration of the covenants and agreements herein contained,
the parties hereto agree as follows:
| 1. |
Restricted
Stock Award.
The Company hereby grants to the Grantee ___________
shares of the Company's common stock (Restricted Stock) subject to
the
restrictions provided herein (Award). During the period of time such
shares are subject to such restrictions, the Grantee shall have all
rights
of a shareholder with respect to such shares with the exception of
the
receipt of dividends which shall be paid into a dividend reinvestment
account subject to the same restrictions as the Restricted
Stock.
|
| 2. |
Terms
and Conditions.
It
is understood and agreed upon that the grant of Restricted Stock is
subject to the following terms and
conditions:
|
|
a.
|
Restriction
Period.
The Restricted Stock granted hereunder may not be sold, transferred,
pledged, hypothecated or otherwise transferred other than as set
forth
herein. The restrictions will terminate ____________________ (Restriction
Period).
|
|
b.
|
In
the event the Grantee leaves the employment of the Company before
the end
of the Restriction Period, the Restricted Stock is subject to forfeiture
as set forth in the Plan.
|
|
c.
|
Change
of Control.
In
the event of a Change of Control as defined in the Plan, the Restricted
Stock shall be deemed to have been fully earned and payable as set
forth
in the Plan.
|
| 3. |
Shares.
The
shares will be held in book entry for the restricted period. The interest
represented by the restricted stock may not be sold, transferred, pledged,
hypothecated or otherwise transferred, except in accordance with the
provisions of this Agreement.
|
| 4. |
Payout
of Award.
Upon completion of the Restriction Period, all restrictions upon the
Award
will expire. A certificate representing the Award will be issued without
any restrictions, and the shares will become
non-forfeitable.
|
| 5. |
Notices.
Any notice hereunder to the Company shall be addressed to the Office
of
the Corporate Secretary.
|
|
GREAT
PLAINS ENERGY INCORPORATED
|
|
By:
________________________________
|
|
______________________
|
______________________________
Grantee
