SummarySheet of Compensation Arrangement Between Cinergy Corp. and its Non-Employee Directors
Exhibit 10.cccc
Summary Sheet of Compensation Arrangement Between Cinergy Corp. and its
Non-Employee Directors
Effective January 1, 2005, the fees paid to the non-employee Directors of the Cinergy Corp. Board of Directors will consist of:
| Type of Fee |
| Amount |
| Annual Board Retainer |
| $60,000 (payable 50% each in cash and stock) |
| Annual Committee Retainer |
| $ 8,500 |
| Annual Committee Chair Retainer |
| $ 8,500 |
| Annual Lead Director Retainer |
| $ 5,000 |
| Board Meeting Attendance |
| $ 2,000 ($1,250 if attended by conference call) |
| Committee Meeting Attendance |
| $ 2,000 ($1,250 if attended by conference call) |
| Annual Equity Award |
| 450 units of Cinergy common stock |
In addition, when a non-employee Director is first elected to the Board, he or she is granted a non-qualified stock option to purchase 12,500 shares of Cinergy common stock. Cinergy also reimburses all non-employee Directors for expenses incurred to attend and participate at Board and Committee meetings.
