CenterPoint Energy 2014 Annual Report Download - page 180

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Stock credited to the Participant’
s bookkeeping account may not be sold, assigned, transferred, pledged or otherwise
encumbered until the Participant has been registered as the holder of shares of Common Stock on the records of the
Company, as provided in Sections 4, 5 or 6 of this Award Agreement.
3.
Vesting of RSU Award.
Unless earlier (a) vested or forfeited pursuant to this Section 3 or Section 4
below or (b) vested upon the occurrence of a Change in Control pursuant to Section 5 below, the Participant’
s right to
receive shares of Common Stock under this Award Agreement shall vest on the Vesting Date(s) for the number of units
indicated in the Award Notice. Except as provided in Sections 4 and 5 below, the Participant must be in continuous
Employment during the period beginning on the Award Date and ending on the Vesting Date(s) in order for the units (as
indicated in the Award Notice) of the RSU Award to vest on such Vesting Date; otherwise, all unvested units shall be
forfeited as of the Participant’s termination of Employment.
4.
Effect of Termination of Employment Prior to the Final Vesting Date or Change in Control;
Timing of Distribution.
(a)
Death . Notwithstanding Section 3 above, if the Participant’
s Termination Date occurs prior to
(i) the final Vesting Date or (ii) the occurrence of a Change in Control, due to the Participant’
s death, then the
Participant shall vest in the right to receive a number of the shares of Common Stock (rounded up to the nearest
whole share) with respect to the unvested portion of this RSU Award determined by multiplying (A) the total
number of units of Common Stock covered by this RSU Award by (B) a fraction, the numerator of which is the
number of days that have elapsed from the Award Date to the Participant’
s Termination Date, and the
denominator of which is the total number of days from the Award Date until the final Vesting Date.
(b)
Disability or Retirement . Notwithstanding Section 3 above, if the Participant’
s Termination Date
occurs prior to (i) the final Vesting Date or (ii) the occurrence of a Change in Control, due to the Participant’
s
Disability or Retirement, Participant shall vest in the right to receive a number of the shares of Common Stock
(rounded up to the nearest whole share) with respect to the unvested portion of this RSU Award determined by
multiplying (A) the total number of units of Common Stock covered by this RSU Award by (B) a fraction, the
numerator of which is the number of days that have elapsed from the Award Date to the Participant’
s
Termination Date, and the denominator of which is the total number of days from the Award Date until the final
Vesting Date.
(c)
Other Termination of Employment without Cause . If (i) the Participant’
s Employment is
terminated by the Company or any of its Subsidiaries without Cause or by the Participant for any reason other
than due to death, Disability or Retirement, and (ii) such termination of Employment occurs on or after July 1 of
the calendar year in which this RSU Award is granted, then the Participant shall vest in the right to receive a
number of the shares of Common Stock (rounded up to the nearest whole share) with respect to the unvested
portion of this RSU Award determined by multiplying (A) the total number of units of Common Stock covered
by this RSU Award by (B) a fraction, the numerator
3