APS 2013 Annual Report Download - page 243
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Exhibit 10.6.8d
RESTRICTED STOCK UNIT AWARD AGREEMENT
THIS AWARD AGREEMENT is made and entered into as of , (the “Date of Grant”), by and between Pinnacle West
Capital Corporation (the “Company”), and (“Employee”).
BACKGROUND
A. The Board of Directors of the Company (the “Board of Directors”) has adopted, and the shareholders of the Company have approved, the
Pinnacle West Capital Corporation 2012 Long-Term Incentive Plan (the “Plan”), pursuant to which Restricted Stock Units and Dividend
Equivalents may be granted to employees of the Company and its Subsidiaries.
B. The Company desires to grant to Employee Restricted Stock Units and Dividend Equivalents under the terms of the Plan.
C. Pursuant to the Plan, the Company and Employee agree as follows:
AGREEMENT
1. Grant of Award. Pursuant to action of the Committee which was taken on the Date of Grant, the Company grants to Employee
( ) Restricted Stock Units and related Dividend Equivalents.
2. Award Subject to Plan. This Restricted Stock Unit Award and the related Dividend Equivalent Award are granted under and are
expressly subject to all of the terms and provisions of the Plan, which terms are incorporated herein by reference, and this Award
Agreement. In the event of any conflict between the terms and conditions of this Award Agreement and the Plan, the provisions of the Plan
shall control.
3. Vesting of Restricted Stock Units.
(a) Regular Vesting. The Restricted Stock Units granted pursuant to Section 1 will vest and no longer be subject to the restrictions
of and forfeiture under this Award Agreement on the following dates (each a “Vesting Date”) and as otherwise set forth in this
Section 3:
(i) x,xxx Restricted Stock Units will vest on , ;
(ii) x,xxx Restricted Stock Units will vest on , ;;
(iii) x,xxx Restricted Stock Units will vest on , ;; and
(iv) The remaining x,xxx Restricted Stock Units will vest on , ;.
(b) Normal or Early Retirement, Death or Disability.
(i) Provided that Employee either qualifies for “Early Retirement” or “Normal Retirement”, as defined in the Pinnacle West
Capital Corporation Retirement Plan (the “Retirement Plan”), or is a Late Career Recipient