Amendment No. 4 to PPL Employee Stock Ownership Plan

Contract Categories: Business Finance › Stock Agreements
Summary

This document is an amendment to the PPL Employee Stock Ownership Plan, originally adopted by PPL Services Corporation for its affiliates. Effective January 1, 2010, it updates the definition of "Market Value" for company stock to mean the closing price on the New York Stock Exchange for the third trading day before the stock is contributed to the plan. All other terms of the plan remain unchanged. The amendment is executed by PPL Services Corporation.

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EX-4.A-5 3 form10k-exhibit_4a5.htm EXHIBIT 4(A)-5 form10k-exhibit_4a5.htm
Exhibit 4(a)-5
AMENDMENT NO. 4
 
TO
 
PPL EMPLOYEE STOCK OWNERSHIP PLAN
 
WHEREAS, PPL Services Corporation ("PPL") has adopted the PPL Employee Stock Ownership Plan ("Plan") effective July 1, 2000, on behalf of various affiliated companies; and
 
WHEREAS, the Plan was amended and restated effective January 1, 2002 and subsequently amended by Amendment No. 1, 2 and 3; and
 
WHEREAS, the Company desires to further amend the Plan;
 
NOW, THEREFORE, the Plan is hereby amended as follows:
 
I.           Effective January 1, 2010, Section 2.20 is amended to read as follows:
 
2.20      "Market Value" shall mean, with respect to the Stock, the closing prices of the Stock reported by the New York Stock Exchange for the third trading day immediately preceding the date on which the Stock is contributed to the Plan.
 
II.           Except as provided for in this Amendment No. 4, all other provisions of the Plan shall remain in full force and effect.
 
IN WITNESS WHEREOF, this Amendment No. 4 is executed this _____ day of ________________, 2009.
 
 
PPL SERVICES CORPORATION
 
 
By:_______________________________
Stephen R. Russo
Vice President-Human Resources
& Services