Summary of Named Executive Officer Compensation for CenterPoint Energy, Inc. (2006)

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Summary

This document summarizes the 2006 compensation for the named executive officers of CenterPoint Energy, Inc. It outlines their annual base salaries effective April 1, 2006, and describes their eligibility for annual cash bonuses under a short-term incentive plan based on performance objectives. It also notes that executives may receive long-term incentive awards, such as stock options and performance shares, under the company's long-term incentive plan. Additional details are available in the company's proxy statement and Form 8-K filings.

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EX-10.NN 17 h33322exv10wnn.txt SUMMARY OF NAMED EXECUTIVE OFFICER COMPENSATION EXHIBIT 10(nn) CENTERPOINT ENERGY, INC. SUMMARY OF NAMED EXECUTIVE OFFICER COMPENSATION The following is a summary of compensation paid to the named executive officers of CenterPoint Energy, Inc. (the "Company"). For additional information regarding the compensation of the named executive officers, please read the definitive proxy statement relating to the Company's 2006 annual meeting of shareholders to be filed pursuant to Regulation 14A and the Company's Current Report on Form 8-K referenced below. Base Salary. The following table sets forth the annual base salary of the Company's named executive officers effective April 1, 2006:
NAME AND POSITION 2006 BASE SALARY ----------------- ---------------- David M. McClanahan $980,000 President and Chief Executive Officer Gary L. Whitlock $445,000 Executive Vice President and Chief Financial Officer Scott E. Rozzell $425,000 Executive Vice President, General Counsel and Corporate Secretary Thomas R. Standish $405,000 Senior Vice President and Group President - Regulated Operations Byron R. Kelley $313,000 Senior Vice President and Group President and Chief Operating Officer, CenterPoint Energy Pipelines and Field Services
Short-Term Incentive Compensation Plan. Annual bonuses are paid to the Company's named executive officers pursuant to the Company's short-term incentive compensation plan, which provides for cash bonuses based on the achievement of certain performance objectives approved in accordance with the terms of the plan at the commencement of the year. Information regarding performance goals for the named executive officers for 2006 is contained in the Company's Current Report on Form 8-K dated February 22, 2006. Long-Term Incentive Compensation. Under the Company's long-term incentive plan, the Company's named executive officers may receive grants of (i) stock option awards, (ii) performance share awards, (iii) performance unit awards and/or (iv) stock awards. Information regarding the terms of certain grants pursuant to the Company's long-term incentive plan is contained in the Company's Current Report on Form 8-K dated February 22, 2006.