Common use of Value of the Stock Unit Award Clause in Contracts

Value of the Stock Unit Award. Subject to approval by the Compensation and Benefits committee (Committee) of the Board of Directors (Board) of Vectren Corporation (Company), as of the date of the lifting of the restrictions or no later than sixty days after that date or if subject to 1.(C)(ii) no later than two and one half months after the end of the performance period, the Grantee shall be paid, for each Stock Unit Award, in cash, the value of one share of Common Stock determined by calculating the average of the closing price of the Common Stock on the New York Stock Exchange for the three consecutive trading days immediately preceding December 25, 2016, or if the lifting of restrictions occurs prior to December 25, 2016, the Fair Market Value of one share of Common Stock on the date the restrictions lapse; provided, however, if the restrictions are being lifted as of December 31, 2016, and the Grantee is not then in compliance with the share ownership guidelines established by the Company's Board, at that time the value of each Stock Unit Award shall be paid to the Grantee in one unrestricted share of the Company's common stock. The determination of compliance will be made by valuing the Grantee's ownership interest by averaging the high and low prices of a share of the Company's common stock during the preceding month of November and comparing the resulting amount of ownership interest against the then applicable share ownership guideline.

Value of the Stock Unit Award. Subject to approval by the Compensation and Benefits committee (Committee) of the Board of Directors (Board) of Vectren Corporation (Company), as of the date of the lifting of the restrictions or no later than sixty days after that date or if subject to 1.(C)(ii) no later than two and one half months after the end of the performance period, the Grantee shall be paid, for each Stock Unit Award, in cash, the value of one share of Common Stock determined by calculating the average of the closing price of the Common Stock on the New York Stock Exchange for the three consecutive trading days immediately preceding December 25, 20162017, or if the lifting of restrictions occurs prior to December 25, 20162017, the Fair Market Value of one share of Common Stock on the date the restrictions lapse; provided, however, if the restrictions are being lifted as of December 31, 20162017, and the Grantee is not then in compliance with the share ownership guidelines established by the Company's Board, at that time the value of each Stock Unit Award shall be paid to the Grantee in one unrestricted share of the Company's common stock. The determination of compliance will be made by valuing the Grantee's ownership interest by averaging the high and low prices of a share of the Company's common stock during the preceding month of November and comparing the resulting amount of ownership interest against the then applicable share ownership guideline.