RELIANT ENERGY, INC. 2002 LONG-TERM INCENTIVE PLAN AMENDMENT TO NONQUALIFIED STOCK OPTION AWARD AGREEMENT
Exhibit 10.6
RELIANT ENERGY, INC.
2002 LONG-TERM INCENTIVE PLAN
AMENDMENT TO
NONQUALIFIED STOCK OPTION AWARD AGREEMENT
THIS AMENDMENT TO NONQUALIFIED STOCK OPTION AWARD AGREEMENT (the Amendment) is entered into and effective as of May 16, 2007, by and between Reliant Energy, Inc. (the Company) and Joel V. Staff (the Optionee).
WHEREAS, on August 28, 2003, the Company granted to the Optionee an Option to purchase shares of common stock of the Company under the Reliant Energy, Inc. 2002 Long-Term Incentive Plan, formerly known as the Reliant Resources, Inc. 2002 Long-Term Incentive Plan, pursuant to a Nonqualified Stock Option Award Agreement (Agreement), a copy of which is attached hereto; and
WHEREAS, the Company and the Optionee desire to amend the Agreement to extend the Option exercise period upon termination of employment;
NOW, THEREFORE, effective as of the day and year first above written, the parties agree to amend Section 3(d) of the Agreement to read as follows:
(d) Termination of Employment by the Company or Due to Resignation. Upon termination of Employment of the Optionee by the Company or any of its Subsidiaries for any reason or due to voluntary resignation by the Optionee, the portion of the Option not exercisable shall expire immediately, and the portion of the Option exercisable upon termination shall expire upon the earlier of (i) the second anniversary of the date of termination of the Optionees service as a Director of the Company or (ii) the expiration of the Option Period.
| RELIANT ENERGY, INC. | ||
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| By |
| /s/ Mark M. Jacobs |
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| Mark M. Jacobs |
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| President and Chief Executive Officer | |
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| OPTIONEE | ||
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| /s/ Joel V. Staff | |
| Joel V. Staff |