Exhibit 10.2
PERFORMANCE UNIT AWARD NO.
__________
AGL RESOURCES
INC.
LONG-TERM INCENTIVE PLAN
(1999)
PERFORMANCE CASH UNIT
AGREEMENT
This Agreement
between AGL Resources Inc. (the “Company”) and the
Recipient sets forth the terms of the Performance Units awarded
under the above-named Plan.
Name of
Recipient: _________________________
Date of
Award : January 3,
2005
Performance Multiple:
_____
Target
Performance Units: $
Performance Measurement Period:
January 1, 2005 through December 31,
200___
Performance Measurement
: The Performance Units shall vest
at the end of the Performance Measurement Period based on the
Company’s internal measure of total shareholder return
(defined as compound earnings growth plus dividend yield, or TSR)
at the end of the Performance Measurement Period.
Performance Calculation:
At the end of the Performance
Measurement Period, the Performance Units will vest based on the
increase in TSR during the Performance Measurement Period in
accordance with the following formula:
Base Pay x Performance Multiple x
TSR % = Actual Award
In particular,
the performance calculation shall be determined as
follows:
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Base pay shall
be the Recipient’s base pay as of the date of
award
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Performance
Multiple is set forth in this Performance Unit Agreement
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TSR shall be
calculated as of the end of the Performance Measurement Period. TSR
shall be calculated to two decimal places.
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Threshold, Target and Maximum
Payout: Threshold
payout is calculated at ___% TSR growth. T
