Summary of Employment Terms for William D. Rogers as Corporate Senior Vice President, CFO, and Treasurer of Sierra Pacific Resources
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Summary
William D. Rogers was appointed as Corporate Senior Vice President, Chief Financial Officer, and Treasurer of Sierra Pacific Resources on February 15, 2007. Although no formal written contract was executed, his employment terms were communicated verbally. He receives an annual salary of $300,000, is eligible for annual and long-term incentive programs, and can participate in various company benefit plans, including retirement and health benefits. Additional allowances include a $15,000 perquisite, a $2,000 monthly housing allowance, and standard employee benefits such as 401K matching and paid time off.
EX-10.B 3 exhibit10-b.htm EXHIBIT 10(B) exhibit10-b.htm
EXHIBIT 10(B)
William D. Rogers was elected to his current position of Corporate Senior Vice President, Chief Financial Officer and Treasurer of Sierra Pacific Resources on February 15, 2007. No formal offer letter or contract for employment was entered into with Mr. Rogers, as he was previously employed by the Company. However, Mr. Rogers was verbally communicated his salary, benefits and employment arrangement. The annual salary communicated to Mr. Rogers was $300,000. Additionally, Mr. Rogers is eligible for an annual cash incentive, Short Term Incentive Program (STIP), of 50% (target) of his base salary. Actual payout may vary from 0% to 150% of target. Mr. Rogers’ long term incentive plan is targeted at 86% of his base salary. Mr. Rogers is eligible to participate in the Company's Supplemental Executive Retirement Plan. Mr. Rogers is also eligible for all regular employee benefits including a 401K plan that matches employee contributions dollar for dollar up to 6% and SPR’s Deferred Compensation Plan, medical benefits and paid time off. He will also receive a perquisite allowance of $15,000 to cover such expenses as a car, tax preparation and club memberships. Furthermore, Mr. Rogers was offered a housing allowance for $2,000 per month.
