Excerpt from Minutes of Special Board Meeting of Duke Energy Corporation – June 18, 1997
This document is an excerpt from the minutes of a special meeting of the Board of Directors of Duke Energy Corporation held on June 18, 1997. The Board approved changes to the Directors’ Compensation and Benefits Program, including an increase in the Charitable Giving Program. Notably, the revised program provides for a $1 million donation to be made in honor of a director upon their death. The meeting was attended by all board members and presided over by the Chairman and CEO.
Exhibit 10-1.1
EXCERPT FROM THE
MINUTES OF A SPECIAL MEETING OF THE
BOARD OF DIRECTORS OF DUKE ENERGY CORPORATION
HELD ON JUNE 18, 1997
A special meeting of the Board of Directors of Duke Energy Corporation was held at 11:01 a.m. in the Board Room, Power Building, Charlotte, North Carolina, on Wednesday, June 18, 1997.
The following members were present:
G. Alex Bernhardt, Sr.
Robert J. Brown
W. A. Coley
George Dean Johnson, Jr.
W. W. Johnson
A. Max Lennon
James G. Martin
Buck Mickel
Richard B. Priory
Russell M. Robinson, II
being all the members. Also present were Directors Emeriti, Thomas H. Davis and John L. Fraley.
Mr. Richard B. Priory, the Chairman and Chief Executive Officer, presided over the meeting, and Mr. W. Edward Poe, Jr., the Secretary, acted as such.
* * * * * * *
In addition, Mr. Johnson recommended approval of adjustments to the Board of Directors’ Compensation and Benefits Program. These changes included [intentionally omitted] an increase in the Directors’ Charitable Giving Program. Upon motion duly made and seconded, the following revised Board of Directors’ Compensation and Benefits Program was approved and adopted:
Duke Energy Corporation’s Directors’ Compensation & Benefits Program
[intentionally omitted]
8. Charitable Giving Program
| • | $1 million donation in honor of Director at death |
[intentionally omitted]
