Employment Agreement between TXU Corp. and Riz Chand as Senior Vice President, Human Resources

Contract Categories: Human Resources › Employment Agreements
Summary

TXU Corp. has hired Riz Chand as Senior Vice President, Human Resources, effective June 6, 2005, on an at-will basis. Mr. Chand will receive a $325,000 annual salary and is eligible for the same compensation and benefit plans as other executives, including incentive, retirement, and severance plans. If he remains employed when 2007 awards are granted under the 2005 Omnibus Incentive Plan, he will receive an award valued at no less than 125% of his base salary, based on the company's stock price at that time.

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EX-10.J 5 ex10_j.htm SUMMARY EMPLOYMENT ARRANGEMENT - R. CHAND Summary - R. Chand
 
Exhibit 10(j)
 
 
 
Riz Chand
Employment Arrangements
 
As of June 6, 2005, TXU Corp. (the “Company”) has employed Riz Chand as Senior Vice President, Human Resources on an at-will employee basis. The Company pays Mr. Chand an annual salary equal to $325,000, and Mr. Chand is eligible to participate in all compensation and benefit plans of the Company in which similarly situated executives are eligible to participate, which currently include the TXU Corp. Executive Annual Incentive Plan, the TXU Corp. 2005 Omnibus Incentive Plan, the TXU Corp. Salary Deferral Plan, the TXU Executive Financial Advisement Program, the Executive Physical Examination Program, the TXU Second Supplemental Retirement Plan, the TXU Corp. Executive Change in Control Policy and the TXU Corp. 2005 Executive Severance Plan. Assuming Mr. Chand is employed with the Company on the date 2007 awards are granted pursuant to the 2005 Omnibus Incentive Plan, the award to be granted to Mr. Chand will have a face value equal to not less than 125% of his base salary, based on the share price of the Company’s common stock at the time of grant.