Document:

exhibit10kk.htm

     

    Exhibit 10(kk)

     

     

    CenterPoint
Energy, Inc.

    Summary of Non-Employee Director
Compensation

     

    The
following is a summary of compensation paid to the non-employee directors of
CenterPoint Energy, Inc. (the “Company”) effective April 24, 2008. For
additional information regarding the compensation of the non-employee directors,
please read the definitive proxy statement relating to the Company’s 2009 annual
meeting of shareholders to be filed pursuant to Regulation 14A.

     

    
      
        	 
      	
                •

              	 
      	
                Annual
      retainer fee of $50,000 for Board membership;

              
	 
      	 
      	 
      	 
      
	 
      	
                •

              	 
      	
                Fee
      of $2,000 for each Board or Committee meeting attended;

              
	 
      	 
      	 
      	 
      
	 
      	
                •

              	 
      	
                Supplemental
      annual retainer of $15,000 for serving as a chairman of the Audit
      Committee;

              
	 
      	 
      	 
      	 
      
	 
      	
                •

              	 
      	
                Supplemental
      annual retainer of $10,000 for serving as a chairman of the Compensation
      Committee; and

              
	 
      	 
      	 
      	 
      
	 
      	
                •

              	 
      	
                Supplemental
      annual retainer of $5,000 for serving as a chairman of any other Board
      committee.

              

      

    

     

    The
Chairman receives the compensation payable to other non-employee directors plus
supplemental compensation pursuant to a letter agreement with the Company
incorporated by reference to Exhibit 10(p) to the Company’s Annual Report on
Form 10-K for the year ended December 31, 2007.

     

    Stock Grants. Each
non-employee director may also receive an annual grant of up to 5,000 shares of
CenterPoint Energy common stock which vest in one-third increments on the first,
second and third anniversaries of the grant date. Upon the initial nomination to
the Board, in addition to the annual grant, a non-employee director may be
granted a one-time grant of up to 5,000 shares of CenterPoint Energy common
stock.

     

    Deferred Compensation Plan.
Directors may elect each year to defer all or part of their annual
retainer fees and meeting fees. Directors participating in these plans may elect
to receive distributions of their deferred compensation and interest in three
ways: (i) an early distribution of either 50% or 100% of their account balance
in any year that is at least four years from the year of deferral up to the year
in which they reach age 70, (ii) a lump sum distribution payable in the year
after they reach age 70 or upon leaving the Board of Directors, whichever is
later, or (iii) 15 annual installments beginning on the first of the month
coincident with or next following age 70 or upon leaving the Board of Directors,
whichever is later.

     

    Director Benefits Plan.
Non-employee directors elected to the Board before 2004 participate in a
director benefits plan under which a director who serves at least one full year
will receive an annual cash amount equal to the annual retainer (excluding any
supplemental retainer) in effect when the director terminates service. Payments
under this plan begin the January following the later of the director’s
termination of service or attainment of age 65, and may be spread over a period
of time to be selected by each director.

     

    Executive Life Insurance Plan.
Non-employee directors who were elected to the Board before 2001
participate in CenterPoint Energy’s executive life insurance plan. This plan
provides endorsement split-dollar life insurance with a death benefit of
$180,000 with coverage continuing after the director’s termination of service at
age 65 or later. Directors elected to the Board after 2000 may not participate
in this plan.exhibit10ll.htm

     

     Exhibit 10(ll)

     

    CenterPoint
Energy, Inc.

    Summary
of Named Executive Officer Compensation

     

        The following
is a summary of compensation paid to the named executive officers of CenterPoint
Energy, Inc. (the “Company”). For additional information regarding the
compensation of the named executive officers, please read the definitive proxy
statement relating to the Company’s 2009 annual meeting of shareholders to be
filed pursuant to Regulation 14A.

     

        Base Salary.
The following table sets forth the annual base salary of the Company’s
named executive officers effective April 1, 2009:

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      	 
      	 
      	 
      	 
      	 
      
	
                                              Name
      and Position

                                            	 
      	
                                              Base
      Salary

                                            	 
      
	
                                               

                                              David
      M. McClanahan

                                              
                                                President
      and Chief Executive Officer

                                              

                                            	 
      	
                                              $

                                            	
                                              1,060,000

                                            	 
      
	
                                               

                                              Gary
      L. Whitlock

                                              
                                                Executive
      Vice President

                                                and
      Chief Financial Officer

                                              

                                            	 
      	
                                              $

                                            	
                                              505,000

                                            	 
      
	
                                               

                                              Scott
      E. Rozzell

                                              
                                                Executive
      Vice President, General

                                                Counsel
      and Corporate Secretary

                                              

                                            	 
      	
                                              $

                                            	
                                              475,000

                                            	 
      
	
                                               

                                              Thomas
      R. Standish

                                              
                                                Senior
      Vice President and Group

                                                President
      — Regulated Operations

                                              

                                            	 
      	
                                              $

                                            	
                                              457,000

                                            	 
      
	
                                               

                                              C.
      Gregory Harper

                                              
                                                Senior
      Vice President and Group President,

                                                Pipelines
      and Field Services

                                              

                                            	 
      	
                                              $

                                            	
                                              340,000

                                            	 
      
	
                                               

                                            	 
      	 
      	 
      	 
      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

         

        Short Term Incentive
Plan. Annual bonuses are paid to the Company’s named executive officers
pursuant to the Company’s short term incentive plan, which provides for cash
bonuses based on the achievement of certain performance objectives approved in
accordance with the terms of the plan at the commencement of the year.
Information regarding awards to the Company’s named executive officers under the
short term incentive plan is provided in definitive proxy statements relating to
the Company’s annual meeting of shareholders.

     

        Long Term Incentive
Plan. Under the Company’s long term incentive plan, the Company’s named
executive officers may receive grants of (i) stock option awards,
(ii) performance share awards, (iii) performance unit awards and/or
(iv) stock awards. The current forms of the applicable award agreements
pursuant to the Company’s long term incentive plan are included as exhibits
hereto.

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