Pepco Holdings, Inc
Vice President & Controller Offer Sheet

 

Position reports to SVP & CFO

 

Position is at the PHI holding company level. Position requires stock ownership
equal to 1 x's base salary - have 5 years to reach requirement

Primary work location is Edison Place, DC. Would expect the person to work 1 to
3 days per month in Wilmington, DE. Parking in both locations is provided.

Prospective employee must pass standard background screen and drug test
conducted by corporate HR

Base Salary

$235,000

Signing bonus

$75,000 @ start; additional $75,000 after one year (assuming satisfactory
performance)

Executive Benefits

1, 2  

Annual Incentive

Target award is 30% of base (max to 54% of base or 180% of target)

Long Term Incentive

Target award is 40% of base

Non-qualified deferred comp plan

Available

SERP

Provides "make whole" in excess of IRS limitation; Bonus payments (average of
highest 3 of final 5 incentive payments) included in calculation

Severance

2x salary and bonus

Car allowance

Yes - VP level ($895/month)

D & O Insurance

Provided by Company

Required annual executive physical

Paid by Company

Generally Applicable Benefits

 

Retirement Savings Plan w/ 401(k) feature

Available

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1

PHI is in the process of retaining an executive compensation consultant to
review and make recommendations on future executive compensation. These items
are the levels currently available to PHI VPs, but are subject to revision as a
result of the review.

2

Such awards are determined by the Board of Directors pursuant to Plan formulae
and objectives.

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Pension

Vesting at 5 years; defined benefit formula based on salary and years of service

Standard health and welfare plans (hospitalization, dental, vision, life
insurance)

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