PNM Resources Director Restricted Stock and Non-Qualified Stock Option Grant Acknowledgment Form

Summary

This agreement is between PNM Resources and a director, confirming the director's receipt of a grant under the company's PEP-PLAN. The director is awarded either restricted stock or non-qualified stock options, with details such as the number of shares, grant price, and vesting schedule specified. The director must acknowledge receipt and agree to the plan's terms. The shares or options vest over three years, and the director must return the signed form to Corporate Governance by a specified date.

EX-10.3 4 exh10-3_022811.htm EXHIBIT 10.3 exh10-3_022811.htm

EXHIBIT 10.3

Alvarado Square

Albuquerque, NM 87158-2850

P ###-###-####

PNMResources.com

PNM RESOURCES

Acknowledgment Form

[Date]

[Director Name and Address]

Dear [Director]:

Pursuant to the terms and conditions of the company’s PEP-PLAN (the ‘Plan’), you have been granted a Restricted Stock Award for ____ shares of stock as outlined below.

Employee ID:	_______________
Granted To:	_______________
Grant ID:	_______________
Grant Date:	_______________
Granted:	_______________
Grant Price:	$0.0000


Vesting Schedule:	33+% per year for 3 years
	____ on [one year anniversary of grant date] ____ on [two year anniversary of grant date] ____ on [three year anniversary of grant date]

By my signature below, I hereby acknowledge receipt of this Grant on the date shown above, which has been issued to me under the terms and conditions of the Plan. I further acknowledge receipt of the copy of the Plan and agree to conform to all of the terms and conditions of the Grant and the Plan.

Signature: ________________________________________ Date:_________________

[Director]

NOTE: If there are any discrepancies in the name or address show above,

please make the appropriate corrections on this form.

Please return this form to Corporate Governance at MS 2850 by __________.