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Exhibit 10(ll)(3)
CENTERPOINT ENERGY, INC.
2009 LONG TERM INCENTIVE PLAN
FORM OF QUALIFIED PERFORMANCE AWARD AGREEMENT FOR EXECUTIVE CHAIRMAN
JANUARY 1, 20XX – DECEMBER 31, 20XX PERFORMANCE CYCLE
Pursuant to this Qualified Performance Award Agreement (the “Award Agreement”)
and conditioned upon
shareholder approval of the material terms of the performance goals under the
CENTERPOINT ENERGY, INC. 2009
LONG TERM INCENTIVE PLAN (the “Plan”) at the 2015 annual stockholder meeting of
CENTERPOINT ENERGY,
INC. (the “Company”),
the Company hereby grants to the Participant, an employee of the Company, this Qualified
Performance Award (the “Award”) covering the target number of shares of Common Stock (the “Target Shares”)
as specified
in the award notice on this Computershare web site (the “Award Notice”).
The number of Target Shares shall be subject to
adjustment as provided in Section 14 of the Plan, conditioned upon the Company’
s achievement of the Performance Goals
over the course of the 20XX – 20XX Performance Cycle, and subject to the following terms and conditions:
1. Relationship to the Plan.
The Award is subject to all of the terms, conditions and provisions of the
Plan in effect on the date hereof and administrative interpretations thereunder, if any, adopted by the Committee To the extent
that any provision of this Award Agreement conflicts with the express terms of the Plan, it is hereby acknowledged and
agreed that the terms of the Plan shall control and, if necessary, the applicable provisions of this Award Agreement shall be
hereby deemed amended so as to carry out the purpose and intent of the Plan. References to the Participant herein also include
the heirs or other legal representatives of the Participant.
2.
Stockholder Approval.
Notwithstanding anything in this Award Agreement to the contrary, the
Participant hereby acknowledges and agrees that the Award and the Participant’
s rights thereunder shall be subject to and
conditioned upon approval by the Company’
s stockholders of the material terms of the performance goals under the Plan at
the Company’s 2015 annual stockholder meeting. If the Company’
s stockholders do not approve the amendment and
restatement of the Plan at the Company’
s 2015 annual stockholder meeting, the Award shall be voided, rescinded and
cancelled.
3.
Definitions.
Except as defined herein, capitalized terms shall have the same meanings ascribed to them
under the Plan. For purposes of this Award Agreement:
“Achievement Percentage”
means the percentage of achievement determined by the Committee after the end
of the Performance Cycle in accordance with Section 4 that reflects the extent to which the Company achieved the
Performance Goals during the Performance Cycle.
“Change in Control Closing Date”
means the date a Change in Control is consummated during the
Performance Cycle.
1