Westar Energy Restricted Share Units Deferral Election Form – James S. Haines, Jr.

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Summary

This agreement is between Westar Energy and James S. Haines, Jr. It allows Mr. Haines to defer the distribution of 125,000 restricted share units (RSUs) and related dividend equivalents that were granted to him. The RSUs vest in two equal parts in 2005 and 2006. Mr. Haines has chosen to receive the RSUs in equal annual installments over five years, starting six months after his employment ends. He has also elected not to defer payment of dividend equivalents. This form replaces a previous deferral election made in 2004.

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EX-10.1 2 dex101.htm DEFERRAL ELECTION FORM Deferral Election Form

Exhibit 10.1

 

Westar Energy Restricted Share Units

Deferral Election Form

 

James S. Haines, Jr.

 

FIRST AMENDED AND RESTATED

Deferral Election Relating to 125,000 Westar Energy Restricted Share Units

and Dividend Equivalents Granted Effective December 6, 2002 and

Vesting in Equal Tranches on December 6, 2005 and December 6, 2006

 

  x I elect to defer distribution of Westar Energy RSUs granted to me on December 6, 2002 and vesting in equal tranches on each of December 6, 2005 and December 6, 2006 and elect to have all such RSUs distributed to me in equal annual installments over a five-year period beginning on the first business day following the 6-month anniversary of the termination of my employment with Westar Energy.

 

  ¨ I elect to defer payment of dividend equivalents related to Westar Energy RSUs granted to me on December 6, 2002 and vesting in equal tranches on each of December 6, 2005 and December 6, 2006 and elect to reinvest such deferred dividend equivalents in additional shares of Westar Energy common stock, which will also be deferred; provided, however, that following the termination of my employment with Westar Energy, all dividend equivalents relating to all such RSUs, including dividend equivalents relating to shares of Westar Energy common stock acquired with deferred dividend equivalents, will be paid in cash and not deferred.

 

  ¨ I elect not to defer distribution of Westar Energy RSUs granted to me on December 6, 2002 and vesting in equal tranches on each of December 6, 2005 and December 6, 2006.

 

  x I elect not to defer payment of dividend equivalents related to Westar Energy RSUs granted to me on December 6, 2002 and vesting in equal tranches on each of December 6, 2005 and December 6, 2006.

 

This deferral election amends and supercedes the deferral election executed by me on December 2, 2004.

 

/s/ James S. Haines, Jr.

  

December 20, 2005

Signature   Date