APS 2001 Senior Management Variable Incentive Plan

Summary

This agreement outlines APS's 2001 Senior Management Variable Incentive Plan, which allows the Chief Executive Officer, with approval from the Human Resources Committee, to select employees for participation, set their incentive levels, and define company goals that must be met for bonuses to be awarded. Each participant's performance is evaluated by their officer, and final bonus amounts are determined at year-end by the CEO, subject to committee approval.

EX-10.5.A 6 ex10-5a.txt 2000 SENIOR MGMT VARIABLE INCENTIVE PLAN (APS) Exhibit 10.5a Under APS' 2001 Senior Management Variable Incentive Plan, the Chief Executive Officer of APS, with the approval of the Human Resources Committee of the Board of Directors, annually designates employees to participate in the program, establishes their participation level, and establishes certain financial and operational goals for APS which must be satisfied in order for variable pay awards to be made. The impact, if any, of each employee's performance on his or her variable pay award is determined by his or her officer. Subject to final approval by the Human Resources Committee of the Board of Directors, the Chief Executive Officer of APS also determines at year-end the degree to which those goals have been satisfied and the amount of variable pay to be awarded to participating employees, if any.