Mississippi Power Company Non-Employee Director Compensation Summary

Summary

Mississippi Power Company compensates its non-employee directors with an annual cash retainer of $12,000, quarterly stock grants of 85 shares of The Southern Company, and meeting fees of $1,200 per Board meeting and $1,000 per committee meeting. Directors may choose to receive their cash retainer in stock and can defer compensation under a Deferred Compensation Plan until they leave the Board. There is no pension plan for non-employee directors.

EX-10.E.20 12 x10e20.txt EXHIBIT 10(e)20 SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION ARRANGEMENTS MISSISSIPPI POWER COMPANY Only non-employee directors are compensated for service on the Board of Directors (the "Board") of Mississippi 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.