Document:

Summary of Executive Compensation

 EXHIBIT 10.1 
  
 NORTHWEST NATURAL GAS COMPANY 
 SUMMARY OF
EXECUTIVE COMPENSATION 
 NAMED EXECUTIVE OFFICERS 
  
 2005 
  

														
	 	  	 	  	 	  	Incentive Target

	  	 
	 Participant

	  	 Title

	  	Annual
Salary*

	  	Target
Award %

	 	 	 Target
Award
 $

	  	Long Term
Incentive
Performance
Share Grant

	 Mark S. Dodson
	  	President & Chief Executive Officer	  	$	500,000	  	50	%	 	$	250,000	  	10,000
	 David H. Anderson 1
	  	Senior Vice President & Chief Financial Officer	  	$	265,000	  	40	%	 	$	106,000	  	5,000
	 Michael S. McCoy
	  	Executive Vice President, Customer & Utility Operations	  	$	260,000	  	40	%	 	$	104,000	  	5,000
	 Margaret D. Kirkpatrick 2
	  	Vice President & General Counsel	  	$	210,000	  	30	%	 	$	63,000	  	NA
	 Gregg S. Kantor
	  	Senior Vice President Public & Regulatory Affairs	  	$	170,000	  	35	%	 	$	59,500	  	3,000
	 Lea Anne Doolittle
	  	Vice President Human Resources	  	$	168,000	  	30	%	 	$	50,400	  	2,000
	 David A. Weber 3
	  	Director Information Services and Chief Information Officer	  	$	186,000	  	25	%	 	$	46,500	  	2,000

  
 Notes: 
  

	*	Salaries effective March 1, 2005 

  

	1	D. H. Anderson became CFO on Sept. 30, 2004. He was granted 5,000 restricted shares which
vest 20% per year over 5 years commencing on Oct. 1, 2005. He received a $40,000 hire-on bonus in January 2005. 

  

	2	Elected June 15, 2005. 

  

	3	Not an officer. Maximum incentive is 200% of Target. 

  
 2004 CEO Annual Incentive 
  
 Mr. Dodson received an annual incentive award of $260,000 for performance in
2004. 
  
 Annual Executive Incentive Compensation 
  
 Incentive compensation for executives for 2005 will be determined according
to the terms of the Executive Annual Incentive Plan, effective Jan. 1, 2003, as previously filed as an exhibit to the Company’s 2002 Form 10-K. The Company’s Executive Annual Incentive Plan is intended to advance the interests of the
Company and its shareholders by means of an incentive cash bonus program, which will motivate key executives to achieve previously established annual performance goals. The payment of awards under this Plan is contingent upon meeting predetermined
individual and Company performance goals. At the beginning of each year, 

 
weighted performance goals are established. At year-end, performance is measured against these goals. The results are considered by the Committee in
determining the amounts to be awarded, if any. 
  
 The amounts of
the awards are based on a formula, which reflects an allocation between Company and individual performance criteria. The allocation depends upon each executive’s ability to influence corporate performance. Depending upon position, performance
and the other factors considered by the Committee, an executive can earn from 25% to 50% of base salary if the prescribed Company and individual performance goals are met, or up to 37.5% to 75% of base salary if these goals are exceeded. 

 
 Individual performance is measured considering (1) achievement of
individual performance goals (50-60%), (2) achievement of budget goals (15-25%), (3) values and behaviors ratings by peers (12.5%) and (4) achievement of development goals as determined by the Chief Executive Officer (12.5%). 
  
 Company performance goals established for 2005 focused on strengthening the
Company’s financial position and increasing shareholder value. These goals included the achievement of: (1) earnings per share in an amount which the Committee determined would demonstrate above average performance; and (2) several operating
goals related to customer satisfaction improvement, market share, profitability, capital cost management and productivity in serving customers. In combination, these goals measure the Company’s performance in terms of its overall profitability,
customer satisfaction, market share, the reduction of costs and the achievement of greater efficiency. In determining the awards, the Committee accords 50% of the weight to earnings per share and 50% to the combined group of operating goals. The
payment of any award for 2005 is conditioned upon the Company’s 2005 earnings per share exceeding a percentage of the target designated in advance by the Committee and being sufficient to cover the payment of all dividends. 
  
 Long-Term Incentive Plan Compensation 
  
 Long-term incentive compensation for certain executives for 2005 will be
determined according to the terms of the Long-Term Incentive Plan, effective July 26, 2001, as previously filed as an exhibit to the Company’s Form 10-Q for the quarter ended June 30, 2001. 
  
 The Long-Term Incentive Plan authorizes the Committee to grant annual awards
payable in Company stock, based on the Company’s financial performance over three-year performance cycles. If the performance-based measures are achieved, participants will also receive dividend equivalent cash payments equal to the number of
shares of common stock received on the award payout multiplied by the aggregate cash dividends paid per share by the Company during the performance period. Awards granted by the Committee in 2003 were based on a three-year performance cycle covering
the period 2003-2005. The performance measure used to determine incentive awards for this cycle is the Company’s average return on equity during the period covered by the award in relation to pre-established targeted objectives. 
  
 In 2004 and 2005, awards granted by the Committee included a Company
performance measure based on total shareholder return relative to a peer group, with a minimum return of 6% per year for a cycle (75%) and performance milestones relative to the Company’s core and non-core strategic plans (25%). At the end of
the cycle, the Committee will determine the Company’s ability to achieve the established criteria and assign a factor to each component ranging between 0% and 200%. As a general guideline, if the Company achieves the targets as stated, the
component factor would be 100%.Form of Non-Qualified Stock Option Agreement for Member of the Board of Director

 Exhibit 10.2 
  
 VIROPHARMA INCORPORATED 
 2005 STOCK OPTION AND RESTRICTED SHARE PLAN 
  
 NON-QUALIFIED STOCK OPTION AGREEMENT 
 FOR MEMBERS OF THE BOARD OF DIRECTORS 
  
 ViroPharma Incorporated (the “Company”) hereby grants to
                                 (the “Optionee”) an option to purchase
a total of                      shares of Common Stock of the Company, at the price and on the terms set forth herein, and in all respects
subject to the terms, definitions and provisions of the 2005 ViroPharma Incorporated Stock Option and Restricted Share Plan (the “Plan”) applicable to non-qualified stock options, which terms and provisions are hereby incorporated by
reference herein (the “Option”). Unless the context herein otherwise requires, the terms defined in the Plan shall have the same meanings when used herein. 
  
 1. Nature of the Option. This Option is intended to be a nonstatutory stock option and is not intended to be an
Incentive Stock Option within the meaning of section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), or to otherwise qualify for any special tax benefits to the Optionee. 
  
 2. Date of Grant; Term of Option. This Option is granted this
         day of                     , 200    , and it may not be
exercised later than
                                        ,
subject to earlier termination, as provided in the Plan. 
  
 3.
Option Exercise Price. The Option exercise price is $             per Share. 
  
 4. Exercise of Option. This Option shall be exercisable during its term only in accordance with the terms and provisions of the Plan and this
Option Agreement as follows: 
  
 (a) Right to Exercise.
This Option shall vest and be exercisable as follows: [VESTING SCHEDULE HERE] 
  
 (b) Method of Exercise. This Option shall be exercisable during its term by written notice which shall state the election to exercise this Option, the number of full Shares in respect to which this Option is
being exercised and which shall contain or be accompanied by such other representations and agreements as to the Optionee’s investment intent with respect to such Shares as may be reasonably required by the Company as contemplated by the Plan.
Such written notice shall be signed by the Optionee and shall be delivered in person or by certified mail to the Secretary of the Company or such other person as may be designated by the Company. The written notice shall be accompanied by payment of
the purchase price. Payment of the purchase price shall be by check or such other consideration and other method of payment as may be authorized by the Board or the Committee pursuant to the Plan. The certificate or certificates for the Shares as to
which the Option shall be exercised shall be registered in the name of the Optionee and, if required by applicable law, shall be legended as required under the Plan. 

 (c) Restrictions on Exercise. This Option may not be exercised if the issuance of the Shares upon
such exercise or the method of payment of consideration for such Shares would constitute a violation of any applicable federal or state securities laws or other laws or regulations. 
  
 5. Investment Representations. Unless the Shares have been registered under the Securities Act of 1933, in connection
with the acquisition of this Option, the Optionee represents and warrants as follows: 
  
 (a) The Optionee is acquiring this Option, and upon exercise of this Option, he will be acquiring the Shares for investment for his own account, not as a nominee or agent, and not with a view to, or for resale
in connection with, any distribution thereof. 
  
 (b) The
Optionee has a preexisting business or personal relationship with the Company or one of its directors, officers or controlling persons and by reason of his business or financial experience, has, and could be reasonably assumed to have, the capacity
to protect his interests in connection with the acquisition of this Option and the Shares. 
  
 6. Termination of Status as an Eligible Person. Subject to the provisions of Section 7 hereof: (a) if the Optionee is other than a consultant or advisor to the Company and ceases to serve the Company or its
Subsidiaries for any reason other than death or Disability and thereby terminates his status as an Eligible Person, the Optionee (or in the event the Optionee dies following termination of employment, then the Optionee’s executor or
administrator) shall have the right to exercise this Option at any time within the three (3) month period after the date of such termination to the extent that the Optionee was entitled to exercise the Option at the date of such termination; and (b)
if the Optionee is a consultant or advisor to the Company, such termination shall not accelerate the expiration date of the Option; provided, however, that if the Optionee dies following such termination, then the Option must be exercised within the
12-month period following the date of death. 
  
 If the Optionee
ceases to serve the Company due to death or Disability, this Option may be exercised at any time within the 12-month period after the date of death or termination of service due to Disability, in the case of death, by the Optionee’s estate or
by a person who acquired the right to exercise this Option by bequest or inheritance, or, in the case of Disability, by the Optionee or his legal guardian or representative, but in any case only to the extent the Optionee was entitled to exercise
this Option at the date of such termination. 
  
 To the extent
that the Optionee was not entitled to exercise the Option at the date of termination, or to the extent the Option is not exercised within the time specified herein, this Option shall terminate. Notwithstanding the foregoing, this Option shall not be
exercisable after the expiration of the term set forth in Section 2 hereof. 
  

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 7. Forfeiture of Option. 
  
 (a) Termination for Cause. Notwithstanding any other provision of this Option, if the Optionee’s
employment or service is terminated by the Company and the Board or the Committee makes a determination that the Optionee (i) has engaged in any type of disloyalty to the Company, including without limitation, fraud, embezzlement, theft, or
dishonesty in the course of his employment, or has breached any fiduciary duty owed to the Company, or (ii) has been convicted of a felony or (iii) has disclosed trade secrets or confidential information of the Company or (iv) has breached any
agreement with the Company in respect of confidentiality, non-disclosure, non-competition or otherwise, all unexercised Options shall terminate on the earlier of the date of termination for “cause” or the date of such determination. In the
event of such a determination, in addition to immediate termination of all unexercised Options, the Optionee shall forfeit all Option shares for which the Company has not yet delivered share certificates to the Optionee and the Company shall refund
to the Optionee the Option price paid to it, if any, in the same form as it was paid (or in cash at the Company’s discretion). Notwithstanding anything herein to the contrary, the Company may withhold delivery of share certificates pending the
resolution of any inquiry that could lead to a determination resulting in forfeiture. 
  
 (b) Non-Competition. Notwithstanding any other provision of this Option, if, during the 3-month period following a termination of service, which period shall be extended to 12 months in the event of a
termination due to Disability, (i) an Optionee who is other than a consultant or advisor to the Company commences any employment or engagement with or by a competitor of the Company (including, but not limited to, full or part-time employment or
independent consulting work), as determined in the sole discretion of the Board or the Committee, or (ii) an Optionee who is a consultant or advisor, has entered into an agreement with the Company which contains non-competition covenants and
violates the terms of his or her non-competition covenant, as determined in the sole discretion of the Board or the Committee, then in either case all of such Optionee’s unexercised Options shall terminate immediately upon the commencement of
such competitive activity. 
  
 8. Non-transferability of
Option. This Option may not be sold, pledged, assigned, hypothecated, gifted, transferred or disposed of in any manner either voluntarily or involuntarily by operation of law, other than by will or by the laws of descent or distribution, and may
be exercised during the lifetime of the Optionee only by such Optionee (or by such Optionee’s representative pursuant to Section 6). Subject to the foregoing and the terms of the Plan, the terms of this Option shall be binding upon the
executors, administrators, heirs, successors and assigns of the Optionee. 
  
 9. Continuation of Employment or Engagement. Neither the Plan nor this Option shall confer upon any Optionee any right to continue in the service of the Company or any of its Subsidiaries or limit, in any
respect, the right of the Company to discharge the Optionee at any time, with or without cause and with or without notice. 
  

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 10. Withholding. The Company reserves the right to withhold, in accordance with any applicable
laws, from any consideration payable to Optionee any taxes required to be withheld by federal, state or local law as a result of the grant or exercise of this Option or the sale or other disposition of the Shares issued upon exercise of this Option.
If the amount of any consideration payable to the Optionee is insufficient to pay such taxes or if no consideration is payable to the Optionee, upon the request of the Company, the Optionee (or such other person entitled to exercise the Option
pursuant to Section 6 hereof) shall pay to the Company an amount sufficient for the Company to satisfy any federal, state or local tax withholding requirements it may incur, as a result of the grant or exercise of this Option or the sale or other
disposition of the Shares issued upon the exercise of this Option. 
  
 11. The Plan. This Option is subject to, and the Company and the Optionee agree to be bound by, all of the terms and conditions of the Plan as such Plan may be amended from time to time in accordance with the terms thereof. Pursuant
to the Plan, the Board or the Committee is authorized to adopt rules and regulations not inconsistent with the Plan as it shall deem appropriate and proper. A copy of the Plan in its present form is available for inspection during business hours by
the Optionee or the persons entitled to exercise this Option at the Company’s principal office. 
  
 12. Entire Agreement. This Agreement, together with the Plan and the other exhibits attached thereto or hereto, represents the entire agreement
between the parties. 
  
 13. Governing Law. This Agreement
shall be construed in accordance with the laws of the Commonwealth of Pennsylvania. 
  
 14. Amendment. Subject to the provisions of the Plan, this Agreement may only be amended by a writing signed by each of the parties hereto. 
  
  

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 IN WITNESS WHEREOF, the Company has caused its duly authorized officers to execute and attest this instrument this
             day of                     ,
200    . 
  

			
	VIROPHARMA INCORPORATED
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

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 ACKNOWLEDGMENT 
  
 The Optionee acknowledges receipt of a copy of the 2005 ViroPharma Incorporated Stock Option Plan (the “Plan”), a
copy of which is attached hereto, and represents that he or she has read and is familiar with the terms and provisions thereof and hereby accepts this Option subject to all of the terms and provisions of the Option Agreement and the Plan. The
Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board or the Committee upon any questions arising under the Plan. 
  

			
	Date:                     	  	  

	 	  	Signature of Optionee
	 	  	  

	 	  	Name of Optionee
	 	  	  

	 	  	Address
	 	  	  

	 	  	City, State, Zip Code

  

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