Exhibit 10.3
PERFORMANCE SHARE AGREEMENT
PURSUANT TO THE
GREAT PLAINS ENERGY INCORPORATED
LONG-TERM INCENTIVE PLAN
EFFECTIVE MAY 7, 2002 (THE PLAN)
THIS
AGREEMENT dated as of ____________, and entered into, in duplicate
by and between GREAT PLAINS ENERGY INCORPORATED (the Company) and
_______ (the Grantee).
WHEREAS,
all capitalized terms used herein shall have the respective
meanings set forth in the Plan; and
WHEREAS,
the Grantee is employed by the Company or one of its subsidiaries
in a key capacity, and the Company desires to (i) encourage the
Grantee to acquire a proprietary and vested long-term interest in
the growth and performance of the Company, (ii) provide the Grantee
with the incentive to enhance the value of the Company for the
benefit of its customers and shareholders, and (iii) encourage the
Grantee to remain in the employ of the Company as one of the key
employees upon whom the Company's success depends;
NOW,
THEREFORE, in consideration of the covenants and agreements herein
contained, the parties hereto agree as follows:
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1.
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Performance Share
Award. The Company
hereby grants to the Grantee ________ Performance Shares for the
two-year period ending 2006 (the Award Period). The Performance
Shares may be earned based upon the Grantee's performance as set
forth in Appendix A.
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2 .
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Terms and
Conditions.
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