Amendment to Duke Energy Corporation Executive Severance Plan (May 2024)
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Summary
This amendment updates the Duke Energy Corporation Executive Severance Plan, effective May 8, 2024. It revises the criteria for Tier I Participants, specifying that both a significant reduction in authority, duties, or responsibilities and removal from the Senior Management Committee are required. All other terms of the plan remain unchanged. The amendment is executed by authorized officers of Duke Energy Corporation.
EX-10.2 3 duk-20240630x10qxexx102.htm EX-10.2 Document
By: ________________________________ Name: Lynn J. Good
Title: Chair and Chief Executive Officer
Date: ________________________
EXHIBIT 10.2
AMENDMENT TO
DUKE ENERGY CORPORATION
EXECUTIVE SEVERANCE PLAN
DUKE ENERGY CORPORATION
EXECUTIVE SEVERANCE PLAN
The Duke Energy Corporation Executive Severance Plan (the “Plan”) is hereby amended, effective May 8, 2024, as follows:
1. Section 2(u)(iii) of the Plan is hereby deleted in its entirety and replaced with the following:
“(iii) only with respect to Tier I Participants, both a material diminution in the Participant’s authority, duties or responsibilities and removal of the Participant from the Senior Management Committee (or any successor to that committee).”
2. Except as explicitly set forth herein, the Plan will remain in full force and effect.
IN WITNESS WHEREOF, the undersigned duly authorized officers have executed this amendment as of the dates set forth below.
DUKE ENERGY CORPORATION
By: ________________________________ Name: Lynn J. Good
Title: Chair and Chief Executive Officer
Date: ________________________
