2003 CEO Variable Incentive Plan Agreement between Pinnacle West and CEO

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the 2003 CEO Variable Incentive Plan for Pinnacle West. The Human Resources Committee of the Board of Directors sets participation levels and financial or operational goals each year. However, the Committee has full discretion to determine the calculation and payment of any incentive, regardless of whether the goals are met. The plan is designed to reward the CEO based on performance, but payment is not guaranteed and depends entirely on the Committee's judgment.

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EX-10.2A 7 ex10-2a.txt 2003 CEO VARIABLE INCENTIVE PLAN Exhibit 10.2a Under the 2003 CEO Variable Incentive Plan, the Human Resources Committee of the Pinnacle West Board of Directors, annually establishes the participation level and establishes certain financial and operational goals. However, the calculation and the amount of payment, if any, under this Plan are in the sole discretion of the Human Resources Committee. Accordingly, achievement of financial and operational goals is just one method that may be utilized to measure performance.