EX-10.2
from 10-Q
10 pages
3 Portland General Electric Company Annual Cash Incentive Plan Section 1 Purpose the Purpose of the Portland General Electric Company Annual Cash Incentive Plan Is to Motivate, Reward and Retain Executive Officers and Key Employees of the Company for Achieving Individual, Department and/or Corporate Goals and Objectives. Section 2 Definitions 2.1. “Affiliate” Means Any Entity That Controls, Is Controlled by or Is Under Common Control With the Company. 2.2. “Annual Incentive Program” Means the Terms and Conditions Pursuant to Which a Participant May Receive an Award Under the Plan for a Particular Award Year Based Upon Achievement of Pre- Established Performance Goals and/or Assessment of Individual Contribution. 2.3. “Award” Means a Contingent Right to Receive Cash Following the End of an Award Year. 2.4. “Award Year” Means Any Fiscal Year of the Company for Which the Company Adopts an Annual Incentive Program Under This Plan. 2.5. “Board” Means the Board of Directors of the Company. 2.6. “CEO” Means the Chief Executive Officer of the Company. 2.7. “Change in Control” Shall Mean Any of the Following Events: (I) Any Person (As Such Term Is Used in Section 14(d) of the Securities Exchange Act of 1934) Becomes the “Beneficial Owner” (As Determined Pursuant to Rule 14d-3 Under the Securities Exchange Act of 1934), Directly or Indirectly, of Securities of the Company Representing More Than Thirty Percent (30%) of the Combined Voting Power of the Company’s Then Outstanding Voting Securities; or (II) During Any Period of Two (2) Consecutive Years (Not Including Any Period Prior to the Execution of This Plan), Individuals Who at the Beginning of Such Period (The “Incumbent Board”) Cease to Constitute at Least a Majority of the Board Provided, However That Any Individual Becoming a Director Subsequent to the Beginning of Such Two (2)-Year Period Whose Election to the Board, or Nomination for Election to the Board by the Company’s
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