CenterPoint Energy, Inc. Summary of Named Executive Officer Compensation (2009)
Contract Categories:
Human Resources
›
Compensation Agreements
Summary
This document summarizes the compensation for the named executive officers of CenterPoint Energy, Inc. for 2009. It lists the annual base salaries for key executives and outlines their eligibility for annual cash bonuses under a short term incentive plan, as well as potential grants of stock options, performance shares, performance units, and stock awards under a long term incentive plan. The summary refers to the company's proxy statement for further details and includes the forms of award agreements as exhibits.
EX-10.(LL) 14 exhibit10ll.htm SUMMARY OF NAMED EXECUTIVE OFFICER COMPENSATION exhibit10ll.htm
Exhibit 10(ll)
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 2009 annual meeting of shareholders to be filed pursuant to Regulation 14A.
Base Salary. The following table sets forth the annual base salary of the Company’s named executive officers effective April 1, 2009:
| Name and Position | Base Salary | |||
| David M. McClanahan President and Chief Executive Officer | $ | 1,060,000 | ||
| Gary L. Whitlock Executive Vice President and Chief Financial Officer | $ | 505,000 | ||
| Scott E. Rozzell Executive Vice President, General Counsel and Corporate Secretary | $ | 475,000 | ||
| Thomas R. Standish Senior Vice President and Group President — Regulated Operations | $ | 457,000 | ||
| C. Gregory Harper Senior Vice President and Group President, Pipelines and Field Services | $ | 340,000 | ||
| | ||||
Short Term Incentive Plan. Annual bonuses are paid to the Company’s named executive officers pursuant to the Company’s short term incentive 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 awards to the Company’s named executive officers under the short term incentive plan is provided in definitive proxy statements relating to the Company’s annual meeting of shareholders.
Long Term Incentive Plan. 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. The current forms of the applicable award agreements pursuant to the Company’s long term incentive plan are included as exhibits hereto.
