PG&E Corporation 2001 Officer Short-Term Incentive Plan Financial Performance Measure

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the 2001 Short-Term Incentive Plan (STIP) for officers of PG&E Corporation and its subsidiaries. The plan, approved by the Nominating and Compensation Committee, sets out how financial performance—primarily based on earnings per share (EPS) from operations—will determine incentive payouts for officers. The plan specifies different performance measures and weightings for various officer groups, linking corporate and subsidiary EPS results to minimum, threshold, and maximum incentive awards.

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EX-10.14 27 dex1014.txt DESCRIPTION OF STIP FOR OFFICERS OF PG&E CORP. - -------------------------------------------------------------------------------- EXHIBIT 10.14 CONFIDENTIAL ___________________________________________________________ 2001 OFFICER SHORT-TERM INCENTIVE PLAN FINANCIAL PERFORMANCE MEASURE ___________________________________________________________ Nominating and Compensation Committee of the Board of Directors December 20, 2000 [LOGO] PG&E Corporation ---------------- - -------------------------------------------------------------------------------- 2001 Officer STIP Financial Performance Measure ================================================================================ Background Short-Term Incentive Plan Structure - ----------------------------------- . At its meeting on September 20, 2000, the Nominating and Compensation Committee reviewed and approved the 2001 STIP structure for officers of the Corporation and each subsidiary. The structure (see Appendix A) established the weighting of corporate EPS, subsidiary EPS, and other performance factors for officers. The structure requires an implementing methodology to link the EPS performance levels to threshold, minimum, and maximum incentive payout levels, which is contained in this document. 2001 Officer STIP Financial Performance Measure Appendix B ================================================================================ 2001 Short-Term Incentive Plan Structure
- ----------------------------------------------------------------------------------------------------------------------------------- Officer Group Award Component Weight Performance Measures - ----------------------------------------------------------------------------------------------------------------------------------- PG&E Corporation Corporate Financial Performance 100% Corporate EPS from operations - ----------------------------------------------------------------------------------------------------------------------------------- President & CEO - PG&E Corporate Financial Performance 50% Corporate EPS from operations National Energy Group Subsidiary Performance 50% Respective subsidiary contribution to corporate President & CEO - Pacific Gas and EPS from operations Electric Company - ----------------------------------------------------------------------------------------------------------------------------------- Pacific Gas and Electric Co. Corporate Financial Performance 25% Corporate EPS from operations PG&E National Energy Group Subsidiary Financial Performance 50 - 75% Respective subsidiary contribution to corporate Pacific Venture Capital, LLC EPS from operations PG&E Telecom, LLC Subsidiary Operational Performance 0 - 25% Financial, operating, and service measures determined by Subsidiary CEO - -----------------------------------------------------------------------------------------------------------------------------------