Great Plains Energy Incorporated
Annual Incentive Plan
Amended February 2003
This plan was previously adopted by Kansas City Power & Light Company (KCPL). The
Plan was first amended October 1, 2001, to reflect a name change from Kansas City Power
& Light Company to Great Plains Energy Incorporated (GPE). The Plan was further
amended on February 4, 2003 by the GPE Board of Directors.
The Great Plains Energy Incorporated (the Company) executive Annual Incentive Plan is designed
to reward sustained value creation by providing competitive incentives for the achievement of
annual financial performance goals. By providing market-competitive target awards, the plan
supports the attraction and retention of senior executive talent critical to achieving the Company's
strategic business objectives.
Eligible participants include Executives and other Key Employees of the Company, as approved by
the Compensation Committee (the Committee) of the Board of Directors.
Target award levels will be approved by the Committee and set as a percentage of executive's
base salary. The percentage will vary based on organizational responsibilities and market-
compilation bonus levels based on industry data. The current annual target award percentage of
base salary is set forth on Appendix I attached hereto.
Corporate performance under the plan will be measured by Earnings Per Shares (EPS). The
awards paid under the plan will be based in part on the achievement of the annual GPE EPS goal
approved by the Committee. In addition to the overall GPE goal, separate goals will be established
for the business units. The proposed annual EPS goal for GPE and the relevant business units
goals for the current annual incentive plan year are set forth in Appendix II attached hereto.
Individual incentive awards will reflect a mix of GPE and business unit performance (EPS and
customer satisfaction) along with individual discretionary factors; the current