(As filed February 28, 2000)
File No. 70-8891
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Post-Effective Amendment No. 1
("POS-AMC")
to
FORM U-1
APPLICATION OR DECLARATION
UNDER THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
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ALLIANT ENERGY CORPORATION
(formerly Interstate Energy Corporation)
222 West Washington Avenue
Madison, Wisconsin 53703
(Names of companies filing this statement and
addresses of principal executive offices)
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ALLIANT ENERGY CORPORATION
(Name of top registered holding company parent)
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Edward M. Gleason, Vice President-Treasurer
and Secretary
Alliant Energy Corporation
222 West Washington Avenue
Madison, Wisconsin 53703
(Name and address of agent for service)
The Commission is requested to send copies of all notices, orders
and communications in connection with this Application or
Declaration to:
Barbara J. Swan, General Counsel William T. Baker, Jr., Esq.
Alliant Energy Corporation Thelen Reid & Priest LLP
222 West Washington Avenue 40 West 57th Street
Madison, Wisconsin 53703 New York, New York 10019
<PAGE>
ITEM 1. DESCRIPTION OF PROPOSED TRANSACTION.
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By order dated April 14, 1998 in this proceeding (the "Merger Order"),
1 the Commission approved a business combination among WPL Holdings, Inc., IES
Industries, Inc., and Interstate Power Company, pursuant to which WPL Holdings,
Inc. acquired the latter two companies. Upon consummating the merger, WPL
Holdings, Inc. changed its name to Interstate Energy Corporation and registered
as a holding company. It has since changed its name to Alliant Energy
Corporation ("Alliant Energy").
Alliant Energy's public-utility subsidiaries are Wisconsin Power &
Light Company, IES Utilities, Inc., Interstate Power Company and South Beloit
Water, Gas and Electric Company. Together, these companies provide public
utility service to approximately 908,000 electric and 388,000 retail gas
customers in parts of Wisconsin, Iowa, Minnesota and Illinois. Alliant Energy's
direct non-utility subsidiaries include Alliant Energy Corporate Services, Inc.,
a subsidiary service company, and Alliant Energy Resources, Inc., which serves
as the holding company for substantially all of Alliant Energy's investments in
non-utility subsidiaries.
Under the terms of the Merger Order, Alliant Energy is authorized
through December 31, 2001, to issue and/or acquire, in open market or privately
negotiated transactions, up to 11 million shares of its authorized shares of
common stock under its dividend reinvestment and stock purchase plan, long-term
equity incentive plan and certain other employee stock purchase, savings and
bonus stock plans (collectively, the "Plans"). Through December 31, 1999,
Alliant Energy had issued and/or purchased an aggregate of 3,898,844 shares of
common stock pursuant the Plans.
Alliant Energy has approved modifications to the manner in which it
will compensate the non-employee members of its Board of Directors.
Specifically, a portion of the annual retainer received by non-employee
directors, currently equal to $20,000, will be paid in the form of authorized
shares of Alliant Energy's common stock. In addition, Alliant Energy has amended
and restated its Deferred Compensation Plan for Directors ("Directors Plan"). As
amended, the Directors Plan will provide non-employee directors with the option
of deferring both the cash and stock portions of the compensation paid to them.
A copy of the Directors Plan is filed herewith as Exhibit I-6.
Alliant Energy now requests authority to issue shares of its common
stock purchased in the open market as compensation paid to non-employee
directors and pursuant to the Directors Plan. Under the Directors Plan, any
non-employee director of Alliant Energy may elect to defer up to 100% of his or
her compensation as a director. A director may elect to have any deferred cash
compensation credited to either an interest bearing account or to a stock
account. All of an eligible director's deferred stock compensation shall be
credited to a stock account. The amounts credited to a director's account would
be paid, at the director's election, commencing in a subsequent plan year to
which the election applies, following the director's termination, or in ten
annual installments.
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1 See WPL Holdings, Inc., et al., Holding Co. Act Release No. 26856.
2
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Shares of common stock of Alliant Energy credited to a director's
account pursuant to the Directors Plan would be counted against the remaining
number of shares authorized for issuance and/or purchase under Plans in the
Merger Order. It is estimated that not more than 25,000 shares of Alliant
Energy's common stock will be issued to non-employee directors in any calendar
year, including both shares issued as compensation and shares purchased pursuant
to the Directors Plan.
ITEM 5. PROCEDURE.
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Alliant Energy requests that the Commission issue a supplemental order
in this proceeding modifying the Merger Order without publishing a notice under
Rule 23. Alliant Energy requests that the Commission's supplemental order be
issued as soon as the rules allow, and in any event not later than January 25,
2000, and that there should not be a 30-day waiting period between issuance of
the Commission's supplemental order and the date on which such order is to
become effective. Alliant Energy hereby waive a recommended decision by a
hearing officer or any other responsible officer of the Commission and consents
that the Division of Investment Management may assist in the preparation of the
Commission's decision and/or order, unless the Division opposes the matters
proposed herein.
ITEM 6. EXHIBITS AND FINANCIAL STATEMENTS.
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A. Exhibits.
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I-6 Alliant Energy Corporation Deferred Compensation Plan for Directors.
SIGNATURES
Pursuant to the requirements of the Public Utility Holding Company Act
of 1935, as amended, the undersigned companies have duly caused this
Post-Effective Amendment filed herein to be signed on its behalf by the
undersigned thereunto duly authorized.
ALLIANT ENERGY CORPORATION
By: /s/ Edward M. Gleason
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Name: Edward M. Gleason
Title: Vice President-Treasurer and
Secretary
Date: February 28, 2000
3
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EXHIBIT I-6
ALLIANT ENERGY CORPORATION
DEFERRED COMPENSATION PLAN FOR DIRECTORS
(AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2000)
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TABLE OF CONTENTS
PAGE
----
ARTICLE 1 BACKGROUND...........................................................1
ARTICLE 2 DEFINITIONS..........................................................1
2.1 Account..........................................................1
2.2 Affiliate........................................................1
2.3 Beneficiary......................................................1
2.4 Code.............................................................2
2.5 Company..........................................................2
2.6 Company Stock....................................................2
2.7 Compensation.....................................................2
2.8 Deferred Compensation............................................2
2.9 Effective Date...................................................2
2.10 Eligible Director................................................2
2.11 Participant......................................................2
2.12 Plan.............................................................3
2.13 Plan Year........................................................3
2.14 Plan Administrator...............................................3
2.15 Retirement.......................................................3
2.16 Share Value......................................................3
2.17 Termination of Directorship......................................3
2.18 Unforeseeable Emergency..........................................3
ARTICLE 3 ADMINISTRATION.......................................................3
3.1 Powers and Duties................................................3
3.2 Delegation.......................................................4
ARTICLE 4 DEFERRED COMPENSATION................................................4
4.1 Participant Deferrals............................................4
4.2 Deferred Compensation Accounts...................................4
ARTICLE 5 PAYMENT OF DEFERRED COMPENSATION.....................................6
5.1 Payment of Deferred Compensation.................................6
5.2 Commencement of Payments.........................................6
5.3 Timing of Payments...............................................7
5.4 Amount of Payments...............................................7
5.5 Form of Payments.................................................7
5.6 Participant Elections............................................7
5.7 Emergency Payments...............................................8
5.8 Tax Payments.....................................................8
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5.9 Facility of Payment..............................................9
5.10 Restrictions on Payments.........................................9
ARTICLE 6 CLAIMS PROCEDURE.....................................................9
6.1 Decisions on Claims..............................................9
6.2 Review of Denied Claims..........................................9
ARTICLE 7 FUNDING.............................................................10
ARTICLE 8 AMENDMENT AND TERMINATION...........................................10
ARTICLE 9 GENERAL PROVISIONS..................................................10
9.1 Status of Participants..........................................10
9.2 No Guaranty of Directorship.....................................10
9.3 Delegation of Authority.........................................11
9.4 Legal Actions...................................................11
9.5 Applicable Law..................................................11
9.6 Rules of Construction...........................................11
9.7 Expenses of Administration......................................11
9.8 Indemnification.................................................11
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ARTICLE 1
BACKGROUND
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Alliant Energy Corporation (formerly known as Interstate Energy Corporation and
referred to herein as the "Company") has heretofore adopted a deferred
compensation plan (the "Plan") to allow its Directors to defer payment of part
or all of their current compensation. The Company now wishes to revise the Plan
in certain respects and, having reserved to itself the power to amend the Plan,
it hereby amends and restates the Plan as follows.
ARTICLE 2
DEFINITIONS
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When the following words or phrases are used herein, they shall have the
meanings set forth below unless otherwise specifically provided:
2.1 Account. An account which has been established for a Participant
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pursuant to Section 4.2. Each such account shall include one or more of the
following sub-accounts:
(a) Company Stock Account. The account established to record a
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Participant's deferred Stock Compensation, and the deferred Cash
Compensation which a Participant has elected to allocate to a Company
Stock Account pursuant to Section 4.2(c).
(b) Interest Account. The account established to record the
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deferred Cash Compensation which a Participant has elected to allocate
to an Interest Account pursuant to Section 4.2(c).
Separate Accounts (and sub-accounts) shall be maintained for the portion of a
Participant's Deferred Compensation (if any) that is distributable in a lump
sum, and for the portion of a Participant's Deferred Compensation (if any) that
is distributable in installments. Separate Accounts (and sub-accounts) shall
also be maintained for each portion of a Participant's Deferred Compensation
that is distributable at a different time.
2.2 Affiliate. A corporation that is under common control with the
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Company, as determined under Section 414(c) of the Code.
2.3 Beneficiary. The person or persons (including a trustee or
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trustees) designated as a Participant's Beneficiary in the last written
instrument signed by the Participant for the purposes of this Plan and received
by the Plan Administrator prior to the Participant's death. If no such person
has been designated, the Participant's Beneficiary shall be the Participant's
surviving spouse, if any, otherwise the Participant's estate.
2.4 Code. The Internal Revenue Code of 1986, as from time to time
----
amended.
1
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2.5 Company. Alliant Energy Corporation, and any successor or
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successors thereto.
2.6 Company Stock. The Common Stock, $.01 par value, of the Company,
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as such stock may be reclassified, converted, or exchanged by reorganization,
merger, or otherwise.
2.7 Compensation. The annual retainer payable to an Eligible Director
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for his or her services as a member of the Company's Board of Directors. An
Eligible Director's Compensation shall include the Director's:
(a) Cash Compensation, being that portion of the Director's
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annual retainer that is payable in cash; and
(b) Stock Compensation, being that portion of the Director's
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annual retainer that is payable in shares of Company Stock.
2.8 Deferred Compensation. The balance from time to time credited to
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a Participant's Accounts.
2.9 Effective Date. The Plan's original Effective Date was June 27,
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1990. The provisions of this amended and restated Plan are effective as of
January 1, 2000, and shall apply to Participants who are Eligible Directors on
or after such date.
2.10 Eligible Director. Any individual who is a member of the
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Company's Board of Directors on the first day of a Plan Year, and who is not an
employee of the Company.
2.11 Participant. An Eligible Director for whom an Account has been
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established pursuant to Section 4.2.
2.12 Plan. The Alliant Energy Corporation Deferred Compensation Plan
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for Directors, as set forth herein, and as from time to time amended.
2.13 Plan Year. The 12 consecutive month period ending on each
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December 31.
2.14 Plan Administrator. The Nominating and Governance Committee of
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the Board of Directors of the Company.
2.15 Retirement. Termination of Directorship at or after age 70.
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2.16 Share Value. The price at which a share of Company Stock is
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deemed to have been purchased for a Participant's Account pursuant to Section
4.3(d). If shares of Company Stock are actually purchased on any date for the
purposes of the Plan, and if such purchases are made in the open market or in
privately negotiated transactions, the Share Value on such date will be the
average weighted price of all of the shares that are purchased for the Plan on
such date. In all other cases, Share Value will be the average (computed to four
decimal points) of the high and low sales prices of shares of Company Stock as
reported for the applicable date on the New York Stock Exchange Composite
Transaction Tape.
2
<PAGE>
2.17 Termination of Directorship. Termination of a Participant's
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membership on the Board of Directors of the Company for any reason.
2.18 Unforeseeable Emergency. A severe financial hardship to a
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Participant resulting from a sudden and unexpected illness or accident of the
Participant or a dependent (as defined in Section 152(a) of the Code) of the
Participant, loss of the Participant's property due to casualty, or a similar
extraordinary and unforeseeable circumstance arising as a result of events
beyond the control of the Participant.
ARTICLE 3
ADMINISTRATION
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3.1 Powers and Duties. Full power and authority to construe,
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interpret, and administer this Plan is vested in the Plan Administrator. In
particular, the Plan Administrator shall make each determination provided for in
this Plan and may adopt such rules, regulations, and procedures as it deems
necessary or desirable to the efficient administration of the Plan. The Plan
Administrator's determinations need not be uniform, and may be made by it
selectively among persons who may be eligible to participate in the Plan. The
Plan Administrator shall have sole and exclusive discretion in the exercise of
its powers and duties hereunder, and all determinations made by the Plan
Administrator shall be final, conclusive, and binding unless they are found by a
court of competent jurisdiction to have been arbitrary and capricious.
3.2 Delegation. The Plan Administrator may delegate part or all of
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its duties to any person or persons, and may from time to time revoke such
authority and delegate it to another person or persons. Each such delegation to
a person who is not an employee or Director of the Company or an Affiliate will
be in writing, and a copy will be furnished to the person to whom the duty is
delegated, who will file a written acceptance with the Plan Administrator. Any
delegate's duty will terminate upon revocation of such authority by the Plan
Administrator, upon withdrawal of such person's acceptance or, in the case of a
delegate who is an employee or Director of the Company or an Affiliate, upon the
termination of such employment or directorship. Any person to whom
administrative duties are delegated may, unless the delegation provides
otherwise, similarly delegate part or all of such duties to another person.
ARTICLE 4
DEFERRED COMPENSATION
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4.1 Participant Deferrals. An Eligible Director may elect to defer up
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to 100% of his or her Compensation for any Plan Year. An election to defer
Compensation shall be made in writing prior to the first day of the Plan Year to
which it will apply or, if later, within 30 days after the Eligible Director is
first notified by the Plan Administrator of his or her eligibility to
participate in the Plan, and it shall be subject to the following requirements:
3
<PAGE>
(a) Amounts deferred from a Participant's Compensation shall
reduce the Participant's Compensation for the Plan Year (or portion
thereof) to which the election applies.
(b) The election shall be irrevocable with respect to all
Compensation payable for services performed by the Participant during
the Plan Year following the date on which the election is received by
the Plan Administrator, except that a Participant may terminate an
election to defer Compensation if the Plan Administrator determines
that the termination is necessary as a result of an Unforeseeable
Emergency.
4.2 Deferred Compensation Accounts. The Plan Administrator shall
------------------------------
establish one or more Accounts in the name of each Participant to record the
Deferred Compensation payable to the Participant. Such Account shall be for
bookkeeping purposes only, and shall not be deemed to create a fund or trust for
the benefit of the Participant. Each Participant's Account shall be established,
maintained, and periodically adjusted as follows:
(a) Credits. Amounts deferred by a Participant pursuant to
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Section 4.1 shall be credited to the Participant's Account as of the
dates on which they are applied to reduce the Participant's
Compensation.
(b) Charges. The Plan Administrator shall charge to the
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Participant's Account the amount of any payments made to or on behalf
of the Participant as of the dates on which such payments are made.
(c) Participant Elections. When a Participant elects to defer
---------------------
Cash Compensation pursuant to Section 4.1, the Participant may elect
to have the deferred Compensation credited to a Company Stock Account
or to an Interest Account, in such proportions as the Participant
shall elect. Each such election shall be due by the due date for the
election under Section 4.1, and it shall apply to all deferred Cash
Compensation for the Plan Year to which the election under Section 4.1
applies. If a Participant fails to make an election for any Plan Year,
the election that was in effect for the previous Plan Year shall
remain in effect for the current Plan Year. If no election was in
effect for the previous Plan Year, the Participant's deferred Cash
Compensation will be allocated to the Interest Account. A
Participant's elections pursuant to this paragraph shall be
irrevocable. Deferred Compensation that has been allocated to a
Company Stock Account may not thereafter be transferred to an Interest
Account, and Deferred Compensation that has been allocated to an
Interest Account may not thereafter be transferred to a Company Stock
Account.
(d) Company Stock Account. A Participant's Company Stock Account
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shall be maintained and adjusted as follows:
(i) All of a Participant's deferred Stock Compensation shall
be credited to the Participant's Company Stock Account.
(ii) The portion of a Participant's deferred Cash
Compensation which is allocated to the Participant's Company
Stock Account shall be deemed to have been invested in whole and
fractional shares of Company Stock on a date selected by the Plan
4
<PAGE>
Administrator, which date shall be no later than ten business
days following the date on which the deferred Compensation or
Employer Contributions are credited to the Participant's Account,
at a price equal to the Share Value on such date.
(iii) A Participant's Company Stock Account shall be
credited with the amount of any dividends that would have been
paid to the Participant if the Participant had owned the shares
of Company Stock that are credited to his or her Account when the
dividends are paid. Amounts so credited shall be deemed to have
been invested in additional shares of Company Stock on a date
selected by the Plan Administrator, which date shall be no later
than ten business days following the date on which the dividends
are credited to the Participant's Account, at a price equal to
the Share Value on such date.
(iv) A Participant's Company Stock Account shall be
equitably adjusted to reflect any change in the outstanding
Company Stock by reason of any stock dividend, stock split,
recapitalization, merger, consolidation, combination or exchange
of shares, or any similar corporate change.
(v) The balance credited to a Participant's Company Stock
Account as of any date shall be the number of whole and
fractional shares of Company Stock that are deemed to be held by
the Participant's Account on such date.
(e) Interest Account. On the last day of each Plan Year, the
----------------
average of the balances credited to the Participant's Interest Account
on the last day of each month during the Plan Year shall be credited
with interest at a rate which is equal to the greater of:
(i) the "Prime Rate" as reported in The Wall Street Journal
on the first business day of the Plan Year; or
(ii) the A-Utility Bond Rate yield (as reported in the
Federal Reserve statistical release H.15) using the average of
the rates reported for the last Friday of each month for the
preceding year;
provided, that in no event shall the rate of interest credited for any Plan Year
be greater than 12% or less than 6%. The balance credited to a Participant's
Interest Account as of any date shall be the accumulated deferred Cash
Compensation and interest that are credited to such Account as of such date.
ARTICLE 5
PAYMENT OF DEFERRED COMPENSATION
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5.1 Payment of Deferred Compensation. In the event of a Participant's
--------------------------------
Termination of Directorship for reasons other than the Participant's death, the
balance credited to the Participant's Account shall be paid to the Participant.
5
<PAGE>
In the event of a Participant's death, the balance credited to the Participant's
Account shall be paid to the Participant's Beneficiary.
5.2 Commencement of Payments. Payment of a Participant's Deferred
------------------------
Compensation shall commence as follows:
(a) Deferrals to a Specific Year. If a Participant has elected
----------------------------
pursuant to Section 5.6 to receive payment of his or her deferrals for
any Plan Year in a specific year, payment of the Participant's
Deferred Compensation that is attributable to such Plan Year shall
commence: (i) during the first 31 days of the year elected by the
Participant; or (ii) within 60 days after the last day of the Plan
Year in which the Participant's Termination of Directorship occurs;
whichever is earlier.
(b) Deferrals to Termination of Directorship. If a Participant
----------------------------------------
has elected pursuant to Section 5.6 to receive payment of his or her
deferrals for any Plan Year following the Participant's Termination of
Directorship, payment of the Participant's Deferred Compensation that
is attributable to such Plan Year shall commence within 60 days after
the date of the Participant's Termination of Directorship or within 60
days after the last day of the Plan Year in which the Participant's
Termination of Directorship occurs, as elected by the Participant
pursuant to Section 5.6.
Notwithstanding the foregoing, if a Participant's Termination of Directorship
occurs by reason of the Participant's death, payment will commence within 60
days after the date the Participant's Beneficiary has been identified.
5.3 Timing of Payments. Payments of a Participant's Deferred
------------------
Compensation shall be made in a lump sum or in up to ten annual installments, as
elected by the Participant pursuant to Section 5.6; provided, that all payments
due by reason of a Participant's death shall be made in a lump sum.
5.4 Amount of Payments. The amount of a lump sum payment shall be
------------------
equal to the balance credited to the Participant's Account as of a date selected
by the Plan Administrator, which date shall not be more than 30 days prior to
the date the lump sum is paid. The amount of an installment payment shall be
equal to the balance credited to the Participant's Account as of a date selected
by the Plan Administrator (which shall not be more than 30 days prior to the
date the installment is paid), divided by the number of installments (including
the current installment) remaining to be paid. The first annual installment will
be paid on the date as of which payment of the Participant's Deferred
Compensation is scheduled to commence. Each annual installment after the first
shall be paid within 31 days after the last day of the calendar year in which
the previous installment was paid.
5.5 Form of Payments. Payments that are due from a Participant's
----------------
Company Stock Account shall be made in whole shares of Company Stock, plus cash
in an amount equal to the Share Value of any fractional shares. Payments that
are due from a Participant's Interest Account shall be made in cash.
6
<PAGE>
5.6 Participant Elections. Subject to the foregoing provisions of
---------------------
this Article 5, when a Participant elects to defer Compensation pursuant to
Section 4.1, the Participant may also elect:
(a) the calendar year in which payment of such Deferred
Compensation will commence, which calendar year shall be: (i)
subsequent to the Plan Year next following the Plan Year to which the
election applies; and (ii) no later than the calendar year of the
Participant's anticipated Retirement; or
(b) to have payment of such Deferred Compensation commence within
60 days following the Participant's Termination of Directorship; or
(c) to have payment of such Deferred Compensation commence within
60 days following the last day of the calendar year of the
Participant's Termination of Directorship; and
(d) to receive payment of such Deferred Compensation in a lump
sum or in up to ten annual installments.
Each such election shall be due by the due date for the election under Section
4.1, and it shall apply to all Deferred Compensation that is attributable to the
Plan Year to which the election under Section 4.1 applies. If a Participant
fails to make an election for any Plan Year, the election that was in effect for
the previous Plan Year shall remain in effect for the current Plan Year. If no
election was in effect for the previous Plan Year, Deferred Compensation that is
attributable to the current Plan Year will be distributed in a lump sum on the
fourth Friday of the month following the Participant's Termination of
Directorship.
5.7 Emergency Payments. In the event of an Unforeseeable Emergency,
------------------
the Plan Administrator may direct the payment of any part or all of a
Participant's Deferred Compensation to the Participant prior to the time
provided in Section 5.2, to the extent necessary to prevent severe financial
hardship. Such action shall be taken only if the Participant submits a written
application describing the circumstances which are deemed to justify the payment
and the amount necessary to prevent severe financial hardship, together with
such supporting evidence as the Plan Administrator may reasonably require.
Payments shall not be made under this section to the extent the Participant's
hardship is or may be relieved:
(a) through reimbursement or compensation by insurance or
otherwise;
(b) by liquidation of the Participant's assets, to the extent
this would not in itself cause severe financial hardship; or
(c) by the termination of the Participant's election to defer
Compensation.
5.8 Tax Payments. If there is a final determination that a
------------
Participant or Beneficiary should be taxed on part or all of the Participant's
Deferred Compensation before it is actually paid, the Company shall pay to the
Participant or Beneficiary the portion of the Participant's Deferred
Compensation that has been determined to be currently taxable. For the purposes
of this section, a "final determination" means a determination by the Internal
Revenue Service or a court of competent jurisdiction from which no further
7
<PAGE>
appeal may be taken, either because there is no further appeal available or
because the time to take such appeal has expired.
5.9 Facility of Payment. The Company may make payments due to a
-------------------
legally incompetent person in such of the following ways as the Plan
Administrator shall determine:
(a) directly to such person;
(b) to the legal representative of such person; or
(c) to a near relative of such person to be used for the person's
benefit.
Any payment made in accordance with the provisions of this section shall be a
complete discharge of the Company's liability for the making of such payment.
5.10 Restrictions on Payments. Notwithstanding anything herein to the
------------------------
contrary, the Plan Administrator may postpone the issuance and delivery of
shares of Company Stock to a Participant until the requirements of any
securities exchange or system on which shares of Company Stock have been listed
have been complied with, until any required registration or other qualification
of such shares under applicable provisions of any State or Federal securities
laws, rules or regulations has been completed, or until the requirements of any
exemption from registration or other qualification have been satisfied. The Plan
Administrator may restrict the transferability of any shares of Company Stock
that are distributed pursuant to the Plan, legend any certificate evidencing any
such shares, and place a stop transfer order in respect of such shares, to the
extent it reasonably determines that such action is necessary to ensure
compliance with any applicable securities or exchange law, regulation, or other
requirement.
ARTICLE 6
CLAIMS PROCEDURE
----------------
6.1 Decisions on Claims. If a claim for benefits is denied, the Plan
-------------------
Administrator shall furnish to the claimant within 90 days after its receipt of
the claim (or within 180 days after such receipt if special circumstances
require an extension of time) a written notice which:
(a) specifies the reasons for the denial;
(b) refers to the pertinent provisions of the Plan on which the
denial is based;
(c) describes any additional material or information necessary
for the perfection of the claim and explains why such material or
information is necessary; and
(d) explains the claim review procedures.
6.2 Review of Denied Claims. Upon the written request of the claimant
-----------------------
submitted within 60 days after his or her receipt of such written notice, the
Plan Administrator shall afford the claimant a full and fair review of the
decision denying the claim and, if so requested, permit the claimant to review
8
<PAGE>
any documents which are pertinent to the claim, permit the claimant to submit
issues and comments in writing, and afford the claimant an opportunity to meet
with appropriate representatives of the Plan Administrator as a part of the
review procedure. Within 60 days after its receipt of a request for review (or
within 120 days after such receipt if special circumstances, such as the need to
hold a hearing, require an extension of time) the Plan Administrator shall
notify the claimant in writing of its decision and the reasons for its decision
and shall refer the claimant to the provisions of the Plan which form the basis
for its decision.
ARTICLE 7
FUNDING
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This Plan is intended to be "unfunded" for the purposes of the Code; however,
nothing herein shall prevent the Company, in its sole discretion, from
establishing a trust of the type commonly known as a "rabbi trust" to assist it
in meeting its obligations under the Plan.
ARTICLE 8
AMENDMENT AND TERMINATION
-------------------------
The Nominating and Governance Committee of the Board of Directors of the Company
may amend or terminate this Plan at any time and for any reason; provided, that
no amendment or termination of the Plan shall alter a Participant's right to
receive payment of amounts previously credited to the Participant's Account.
ARTICLE 9
GENERAL PROVISIONS
------------------
9.1 Status of Participants. Each Participant and Beneficiary shall be
----------------------
a general unsecured creditor of the Company with respect to amounts payable
hereunder, this Plan constituting a mere promise by the Company to make benefit
payments in the future. A Participant's or Beneficiary's right to receive
payments under the Plan are not subject in any manner to anticipation,
alienation, sale, assignment, pledge, encumbrance, attachment, or garnishment by
the creditors of the Participant or the Participant's Beneficiaries.
9.2 No Guaranty of Directorship. The establishment of this Plan shall
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not give a Participant any legal or equitable right to be continued as a member
of the Board of Directors of the Company.
9.3 Delegation of Authority. Whenever, under the terms of this Plan,
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the Company is permitted or required to do or perform any act, it shall be done
or performed by the Board of Directors of the Company, by any duly authorized
committee thereof, or by any officer of the Company duly authorized by the
articles of incorporation, bylaws, or Board of Directors of the Company.
9
<PAGE>
9.4 Legal Actions. No Participant, Beneficiary, or other person
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having or claiming to have an interest in this Plan shall be a necessary party
to any action or proceeding involving the Plan, and no such person shall be
entitled to any notice or process, except to the extent required by applicable
law. Any final judgment which is not appealed or appealable that may be entered
in any such action or proceeding shall be binding and conclusive on all persons
having or claiming to have any interest in this Plan.
9.5 Applicable Law. This Plan shall be construed and interpreted in
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accordance with the laws of the State of Wisconsin, except to the extent the
same are preempted by any applicable federal law.
9.6 Rules of Construction. Wherever any words are used herein in the
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masculine gender, they shall be construed as though they were also used in the
feminine gender in all cases where they would so apply, and wherever any words
are used herein in the singular form they shall be construed as though they were
also used in the plural form in all cases where they would so apply. Headings of
sections and subsections of this Plan are inserted for convenience of reference,
are not a part of this Plan, and are not to be considered in the construction
hereof. The words "hereof," "herein," "hereunder," and other similar compounds
of the word "here" shall mean and refer to the entire Plan, and not to any
particular provision or section.
9.7 Expenses of Administration. All expenses and costs incurred in
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connection with the administration or operation of the Plan shall be paid by the
Company and/or by any trust of the type described in Article 7.
9.8 Indemnification. The Company shall, to the extent permitted by
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its articles of incorporation and bylaws, and by the laws of the state in which
it is incorporated, indemnify any employee or Director of the Company or an
Affiliate providing services to the Plan against any and all liabilities arising
by reason of any act or omission, made in good faith pursuant to the provisions
of the Plan, including expenses reasonably incurred in the defense of any claim
relating thereto.
To record the adoption of the Plan as set forth above, the undersigned has
executed this document this ___ day of ________________, ____________, for and
on behalf of the Company.
ALLIANT ENERGY CORPORATION
By
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As its
---------------------------------
ATTEST:
- --------------------------------------
As its
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10
