exhibit10_14.htm


    
      
         


      

      
         


        
          

        

      

      
         


      

    


    EXHIBIT
10.14

    


    SUMMARY
OF KEY TERMS OF COMPENSATION ARRANGEMENTS

     WITH
MIDAMERICAN ENERGY HOLDINGS COMPANY

     NAMED
EXECUTIVE OFFICERS AND DIRECTORS

    


    MidAmerican
Energy Holdings Company’s (“MEHC”) continuing named executive officers each
receive an annual salary and participate in health insurance and other benefit
plans on the same basis as other employees, as well as certain other
compensation and benefit plans described in MEHC’s Annual Report on Form
10-K.

    


    The named
executive officers are also eligible to receive a cash incentive award under
MEHC’s Performance Incentive Plan (“PIP”). The PIP provides for a discretionary
annual cash award that is determined on a subjective basis and paid in December.
In addition to the PIP, the named executive officers are eligible to receive
discretionary cash performance awards periodically during the year to reward the
accomplishment of significant non-recurring tasks or projects. Messrs. David L.
Sokol and Gregory E. Abel have not been granted cash performance awards in the
past five years. Messrs. Patrick J. Goodman and Douglas L. Anderson and Ms.
Maureen E. Sammon are participants in MEHC’s Long-Term Incentive Partnership
Plan (“LTIP”). Messrs. Sokol and Abel do not participate in the LTIP. A copy of
the LTIP is attached as Exhibit 10.11 to the MEHC Annual Report on Form 10-K.
Messrs. Sokol and Abel are participants in MEHC’s Incremental Profit
Sharing Plan (“IPSP”). Messrs. Goodman and Anderson and Ms. Sammon do not
participate in the IPSP. A copy of Mr. Sokol’s IPSP and Mr. Abel’s
IPSP are attached as Exhibits 10.3 and 10.6, respectively, to the MEHC Annual
Report on Form 10-K.

    


    Base
salary for continuing named executive officers for MEHC’s fiscal year ending
December 31, 2009, is shown in the following table:

    


    
      	
               

              Name
      and Title

            	
               

              Base
      Salary

            
	
              David
      L. Sokol

              Chairman
      of the Board

            	
              $750,000

            
	 	 
	
              Gregory
      E. Abel

              President
      and Chief Executive Officer

            	
              $1,000,000

            
	 	 
	
              Patrick
      J. Goodman

              Senior
      Vice President and Chief Financial Officer

            	
              $340,000

            
	 	 
	
              Douglas
      L. Anderson

              Senior
      Vice President and General Counsel

            	
              $308,000

            
	 	 
	
              Maureen
      E. Sammon

              Senior
      Vice President and Chief Administrative Officer

            	
              $221,000

            
	 	 


    

    


    Messrs.
Sokol and Abel are directors of MEHC, but do not receive additional compensation
for their service as directors other than what they receive as employees of
MEHC. The other members of the MEHC board of directors do not receive
compensation for their service as directors.