APS 2015 Annual Report Download - page 246

or regulation, (ii) does not adversely affect in any material way the rights of Employee, or (iii) is required to cause the benefits under the
Plan to qualify as performance-based compensation within the meaning of Section 162(m) of the Code or to comply with the provisions of
Section 409A of the Code and applicable regulations or other interpretive authority. Additional rules relating to amendments to the Plan or
any Award Agreement to assure compliance with Section 409A of the Code are set forth in Section 17.15 of the Plan.
17. Performance-Based Award. This Award is intended to be a Performance-Based Award if Employee is considered to be a Covered
Employee for the tax year of the Company for which the Company claims a related tax deduction.
IN WITNESS WHEREOF, the Company has caused this Award Agreement to be executed, as of the Date of Grant, by an authorized
representative of the Company and this Award Agreement has been executed by Employee.
PINNACLE WEST CAPITAL CORPORATION
By:
Its:
Date:
EMPLOYEE
By:
Date:
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