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Exhibit 10.2
FORM OF
AMERICAN STATES WATER
COMPANY
2009 SHORT-TERM INCENTIVE
PROGRAM
[Date]
To: 2009 Short-Term Incentive Program
Participants
American States
Water Company (the “Company”) is pleased to inform you
that you have been selected as a participant in the Company’s
2009 Short-Term Incentive Program (the “Bonus
Program”). Unless otherwise defined in this award
agreement, capitalized terms used in this award agreement have the
same meanings as in the Bonus Program.
As a participant
in the Bonus Program, you are eligible to earn two separate cash
bonuses for the 2009 calendar year—an Objective Bonus and a
Discretionary Bonus. Your total Target Aggregate Bonus
is set forth opposite your name in the Bonus Program, and is equal
to the sum of the target amount of your Objective Bonus plus the
sum of the target amount of your Discretionary Bonus.
Your Objective
Bonus is subject to the terms of the Bonus Program and the
Company’s Performance Incentive Plan (the
“Plan”), and will only become payable if all of the
applicable terms and conditions of both the Bonus Program and the
Plan are satisfied. The portion of your Target Aggregate
Bonus attributable to your Objective Bonus will become payable
based on the Company’s attainment of the specific Performance
Targets established for the Business Criteria that have been
established for you. Your applicable Business Criteria,
Performance Targets (including the threshold, target and maximum
Performance Targets) and Payout Percentages are set forth in
Exhibit A to the Bonus Program. Please note, however,
that payment
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