Summary of Non-Employee Director Compensation Arrangements for Gulf Power Company

Summary

This document outlines the compensation structure for non-employee directors serving on the Board of Gulf Power Company. Non-employee directors receive an annual cash retainer of $12,000, a quarterly stock retainer of 85 shares of The Southern Company, and meeting fees for attending Board and committee meetings. Directors can choose to receive compensation in stock or defer payments under a Deferred Compensation Plan. There is no pension plan for these directors.

EX-10.D.20 10 x10d20.txt EXHIBIT 10(d)20 SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION ARRANGEMENTS GULF POWER COMPANY Only non-employee directors are compensated for service on the Board of Directors (the "Board") of Gulf Power Company (the "Company"). The pay components are as follows: o Annual Cash Retainer Fee: $12,000 o Quarterly Stock Retainer Fee: 85 shares of common stock of The Southern Company o Meeting Fees: $1,200 for each Board meeting attended, and $1,000 for each committee meeting attended. At the election of the director, all or a portion of the cash retainer may be payable in common stock of The Southern Company, and all or a portion of the total cash compensation may be deferred under the Deferred Compensation Plan and all of the stock retainer may be deferred under the Deferred Compensation Plan until membership on the Board is terminated. There is no pension plan for non-employee directors.