Summary of Named Executive Officer Compensation for CenterPoint Energy, Inc. (2005)

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Summary

This document outlines the compensation for the named executive officers of CenterPoint Energy, Inc. for 2005. It details their annual base salaries, eligibility for annual cash bonuses under a short-term incentive plan based on company and individual performance, and potential long-term incentives such as stock options, performance shares, and restricted stock. The agreement references additional details available in the company's proxy statement and specific SEC filings. The key officers and their respective salaries are listed, with compensation subject to performance criteria set by the Compensation Committee.

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EX-10.MM 8 h23047exv10wmm.txt SUMMARY OF NAMED EXECUTIVE OFFICER COMPENSATION EXHIBIT 10(MM) 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 2005 annual meeting of shareholders to be filed pursuant to Regulation 14A and the Company's Current Reports 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, 2005:
NAME AND POSITION 2005 BASE SALARY ----------------- ---------------- David M. McClanahan $880,000 President and Chief Executive Officer Scott E. Rozzell $405,000 Executive Vice President, General Counsel and Corporate Secretary Gary L. Whitlock $415,000 Executive Vice President and Chief Financial Officer Byron R. Kelley $302,000 Senior Vice President and Group President and Chief Operating Officer, CenterPoint Energy Pipelines and Field Services Thomas R. Standish $314,000 Senior Vice President and Group President and Chief Operating Officer, CenterPoint Energy Houston Electric, LLC
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 achievement over the course of the year of performance objectives approved by the Compensation Committee at the commencement of the year, in addition to cash bonuses which are based on individual performance and accomplishments. Information regarding payouts under the short-term incentive compensation plan for fiscal year 2004 and performance goals for the named executive officers for 2005 is contained in the Company's Current Report on Form 8-K dated February 21, 2005. 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 and performance unit awards and/or (iii) restricted stock. Information regarding certain awards to the Company's named executive officers pursuant to the Company's long-term incentive plan is contained in the Company's Current Reports on Form 8-K dated January 25, 2005 and February 21, 2005.