Document:

Exhibit 10.03 - EDCP

Exhibit 10.03

SCANA CORPORATION

EXECUTIVE DEFERRED COMPENSATION PLAN

(including amendments through November 25, 2014)

SCANA CORPORATION

EXECUTIVE DEFERRED COMPENSATION PLAN

TABLE OF CONTENTS

Page

SECTION 1.  ESTABLISHMENT AND PURPOSE    1
1.1    ESTABLISHMENT AND HISTORY OF THE PLAN    1
1.2    DESCRIPTION OF THE PLAN    1
1.3    PURPOSE OF THE PLAN    2
1.4    EFFECTIVE DATE    2
SECTION 2.  DEFINITIONS    3
2.1    DEFINITIONS    3
2.2    GENDER AND NUMBER    6
SECTION 3.  ELIGIBILITY AND PARTICIPATION    7
3.1    ELIGIBILITY    7
3.2    PARTICIPATION    7
3.3    CONTINUED PARTICIPATION    7
SECTION 4. DEFERRALS    8
4.1    DEFERRAL ELECTION FOR ELIGIBLE EMPLOYEES    8
4.2    DEFERRAL ELECTION FOR DIRECTORS    9
4.3    CREDITING OF EMPLOYER MATCHING DEFERRALS    9
4.4    DEFERRAL PERIOD    10
4.5    FORM OF PAYMENT OF DEFERRED AMOUNTS    10
4.6    MODIFICATION OF DEFERRAL DATE    11
SECTION 5.  EDCP LEDGERS – DEFERRED COMPENSATION ACCOUNTS    12
5.1    PARTICIPANT ACCOUNTS    12
5.2    HYPOTHETICAL EARNINGS    12
5.3    CHARGES AGAINST ACCOUNTS    12
SECTION 6.  PAYMENT OF DEFERRED AMOUNTS    13
6.1    PAYMENT OF DEFERRED AMOUNTS    13
6.2    ACCELERATION OF PAYMENTS    13
6.3    UNFORESEEABLE EMERGENCY    13
6.4    ACCELERATION SUBJECT TO SUBSTANTIAL LIMITATIONS    14
6.5    COMMITTEE MODIFICATION OF INSTALLMENT DISTRIBUTION OPTIONS    15
6.6    DELAY IN DISTRIBUTION FOR SPECIFIED EMPLOYEES    15
6.7    COMPLIANCE WITH DOMESTIC RELATIONS ORDER    16
SECTION 7.  BENEFICIARY DESIGNATION    17
7.1    DESIGNATION OF BENEFICIARY    17
7.2    DEATH OF BENEFICIARY    17
7.3    INEFFECTIVE DESIGNATION    17
SECTION 8.  CHANGE IN CONTROL PROVISIONS    18

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8.1    SUCCESSORS    18
8.2    AMENDMENT AND TERMINATION AFTER CHANGE IN CONTROL    18
SECTION 9.  GENERAL PROVISIONS    19
9.1    CONTRACTUAL OBLIGATION    19
9.2    UNSECURED INTEREST    19
9.3    “RABBI” TRUST    19
9.4    EMPLOYMENT/PARTICIPATION RIGHTS    19
9.5    NONALIENATION OF BENEFITS    20
9.6    SEVERABILITY    20
9.7    NO INDIVIDUAL LIABILITY    20
9.8    APPLICABLE LAW    20
SECTION 10.  PLAN ADMINISTRATION, AMENDMENT AND TERMINATION    21
10.1    IN GENERAL    21
10.2    CLAIMS PROCEDURE    21
10.3    FINALITY OF DETERMINATION    21
10.4    DELEGATION OF AUTHORITY    21
10.5    EXPENSES    21
10.6    TAX WITHHOLDING    21
10.7    INCOMPETENCY    21
10.8    NOTICE OF ADDRESS    22
10.9    AMENDMENT AND TERMINATION    22
10.10    PLAN TO COMPLY WITH CODE SECTION 409A    22
SECTION 11.  EXECUTION    23

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SCANA CORPORATION

EXECUTIVE DEFERRED COMPENSATION PLAN

SECTION 1. ESTABLISHMENT AND PURPOSE
1.1    Establishment and History of the Plan.   SCANA Corporation established, effective as of January 1, 1987, the supplementary voluntary deferred compensation plan for executives known as the “SCANA Corporation Supplementary Voluntary Deferral Plan” (the “SVDP”). SCANA Corporation also established: (1) effective as of October 15, 1986, a deferred compensation plan for executives known as the “SCANA Corporation Voluntary Deferral Plan” (the “VDP”); and (2) effective as of December 18, 1996, a consolidated deferred compensation plan for selected executives known as the “SCANA Corporation Key Employee Retention Program” (“KERP”), which was a consolidation of various individual agreements with executives, previously established. The VDP, KERP, and SVDP have been amended from time to time after their initial adoption for various design and administrative changes. Further, the VDP, KERP, and SVDP were amended and restated effective as of December 18, 1996 to include provisions applicable upon a Change in Control. The VDP, KERP, and SVDP were further amended and restated effective as of October 21, 1997 to include various administrative provisions and to clarify certain provisions regarding a Change in Control. 

Effective as of July 1, 2000, the KERP was amended to provide a cash balance-type benefit for all participants. Effective as of July 1, 2001, the KERP and VDP were amended and merged with and into this Plan, which was re-named as the “SCANA Corporation Executive Deferred Compensation Plan” (hereinafter called the “Plan”). Effective as of January 1, 2002, the KERP cash balance-type benefit was frozen and this Plan was amended and restated to include new deferral opportunities as set forth herein. Effective as of January 1, 2004, this Plan was amended and restated to incorporate certain amendments and other design based changes. Effective as of January 1, 2007, this Plan was amended and restated to eliminate gross-up payments. Effective as of January 1, 2009, this Plan was amended and restated to comply with the requirements of Code Section 409A. Effective as of December 31, 2009, this Plan is amended and restated to remove references to the SCANA Corporation Key Executive Severance Benefits Plan. This Plan was most recently amended and restated, effective as of November 25, 2014, to allow for participation of non-employee directors of the Corporation in the Plan. 

1.2    Description of the Plan.   This Plan is intended to constitute a non-qualified deferred compensation plan which, in accordance with ERISA Sections 201(2), 301(a)(3) and 401(a)(1), is unfunded and established primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees. 

1.3    Purpose of the Plan.   The purpose of this Plan is to: 
    
(a)    enable the Company to attract and retain persons of outstanding competence, to provide incentive benefits to a very select group of key management employees who contribute materially to the continued growth, development, and future business success of the Company, and to provide a means whereby certain amounts payable by the Company to selected executives may be deferred to some future period; and

(b)    provide a means whereby certain amounts payable by the Corporation to selected non-employee directors of the Corporation may be deferred to some future period. 

1.4    Effective Date.   This amended and restated Plan is effective as of November 25, 2014, except as otherwise specifically provided herein (including in the appendices to the Plan) or in resolutions adopted by the Board or the Committee.

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SECTION 2. DEFINITIONS
2.1    Definitions.   Whenever used herein, the following terms shall have the meanings set forth below, unless otherwise expressly provided herein or unless a different meaning is plainly required by the context, and when the defined meaning is intended, the term is capitalized:

(a)    “Additional Deferral” means the pre-tax deferrals of Excess Compensation made by a Participant who is an Eligible Employee under this Plan of up to nineteen percent (19%) of his Excess Compensation in accordance with Section 4.1(b).

(b)    “Agreement” means a contract between an Eligible Employee and the Company permitting the Eligible Employee to participate in the Plan and delineating the benefits (if any) that are to be provided to the Eligible Employee in lieu of or in addition to the benefits described under the terms of this Plan.
    
(c)    “Basic Deferral” means the pre-tax deferrals of Excess Compensation made by a Participant who is an Eligible Employee under this Plan of up to six percent (6%) of his Excess Compensation in accordance with Section 4.1(a).

(d)    “Beneficial Owner” shall have the meaning ascribed to such term in Rule 13d-3 of the General Rules and Regulations under the Exchange Act.

(e)    “Beneficiary” means any person or entity who, upon the Participant’s death, is entitled to receive the Participant’s benefits under the Plan in accordance with Section 7 hereof.

(f)    “Board” means the Board of Directors of the Corporation.

(g)    “Bonus Deferral” means the pre-tax deferrals of a distribution of Performance Share Awards made by a Participant who is an Eligible Employee under this Plan of up to one hundred percent (100%) of his Performance Share Award in accordance with Section 4.1(c).

(h)    “Cash Retainer Deferral” means the deferrals of Cash Retainer Fee amounts made by a Participant who is a Director under this Plan. 

(i)    “Change in Control” means a change in control of the Corporation of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Exchange Act, whether or not the Corporation is then subject to such reporting requirements; provided that, without limitation, such a Change in Control shall be deemed to have occurred if:

(i)    Any Person (as defined in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d)) is or becomes the Beneficial Owner, directly or indirectly, of twenty five percent (25%) or more of the combined voting power of the outstanding shares of capital stock of the Corporation;

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(ii)    During any period of two (2) consecutive years (not including any period prior to December 18, 1996) there shall cease to be a majority of the Board comprised as follows: individuals who at the beginning of such period constitute the Board and any new director(s) whose election by the Board or nomination for election by the Corporation’s stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved;

(iii)    The consummation of a merger or consolidation of the Corporation with any other corporation, other than a merger or consolidation which would result in the voting shares of capital stock of the Corporation outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting shares of capital stock of the surviving entity) at least eighty percent (80%) of the combined voting power of the voting shares of capital stock of the Corporation or such surviving entity outstanding immediately after such merger or consolidation; or the shareholders of the Corporation approve a plan of complete liquidation of the Corporation or an agreement for the sale or disposition by the Corporation of all or substantially all of the Corporation’s assets; or

(iv)    The consummation of the sale of the stock of any subsidiary of the Corporation designated by the Board as a “Material Subsidiary;” or the shareholders of the Corporation approve a plan of complete liquidation of a Material Subsidiary or an agreement for the sale or disposition by the Corporation of all or substantially all of the assets of a Material Subsidiary; provided that any event described in this subsection shall represent a Change in Control only with respect to a Participant who has been exclusively assigned to the affected Material Subsidiary.

(j)    “Code” means the Internal Revenue Code of 1986, as amended.

(k)    “Committee” means the Human Resources Committee of the Board. Any references in this Plan to the “Committee” shall be deemed to include references to the designee appointed by the Committee under Section 10.4.

(l)    “Company” means the Corporation and any subsidiaries of the Corporation and their successor(s) or assign(s) that adopt this Plan through execution of Agreements with any of their Employees or otherwise. When the term “Company” is used with respect to an individual Participant who is an Eligible Employee, it shall refer to the specific company at which the Participant is employed, unless otherwise required by the context. When the term “Company” is used with respect to an individual Participant who is a Director, it shall refer to the Corporation. 

(m)    “Compensation” means the Eligible Earnings (as defined in the Qualified Plan) of a Participant who is an Employee, determined without regard to the limitation on compensation otherwise required under Code Section 401(a)(17), and without regard to any deferrals or the foregoing of compensation under this or any other plan of deferred compensation maintained by the Company.

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(n)    “Corporation” means SCANA Corporation, a South Carolina corporation, or any successor thereto. 

(o)    “Director” means an individual who is a member of the Board and who is designated as eligible to participate in this Plan by the Corporation under Section 3.1(b). 
    
(p)    “Director Plan” means the SCANA Corporation Director Compensation and Deferral Plan, as amended from time to time. 

(q)    “EDCP Ledger” means the bookkeeping ledger account used to track deferred amounts under the Plan together with credited earnings (or losses) that reflect the Investment Options applicable with respect to each Participant’s deferred amounts. Each EDCP Ledger shall separately reflect the pre-2005 and post-2004 deferrals and hypothetical earnings thereon, and the portion of the post-2004 deferrals and hypothetical earnings thereon payable at a date certain and the portion payable upon a Participant’s Separation from Service (referred to herein as a Participant’s “pre-2005 EDCP Ledger” and “post-2004 EDCP Ledger”). A Participant’s pre-2005 EDCP Ledger shall reflect amounts deferred hereunder before January 1, 2005 (and the earnings credited thereon before, on or after January 1, 2005) for which (i) the Participant had a legally binding right as of December 31, 2004, to be paid the amount, and (ii) such right to the amount was earned and vested as of December 31, 2004 and was credited to the Participant’s EDCP Ledger hereunder. Pre-2005 EDCP Ledgers are treated as “grandfathered” for the purposes of Code Section 409A, and are governed by the terms of the Plan in effect as of October 3, 2004.

(r)    “Eligible Employee” means an Employee who is eligible for awards under the SCANA Corporation Long-Term Equity Compensation Plan. 

(s)    “Employee” means a person who is actively employed by the Company and who falls under the usual common law rules applicable in determining the employer-employee relationship.

(t)    “Employer Matching Deferral” means the deferrals credited to EDCP Ledgers for Participants who are Eligible Employees in accordance with Section 4.2.

(u)    “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

(v)    “Excess Compensation” means the Compensation otherwise payable to an Eligible Employee in excess of the dollar limitation imposed under Code Section 401(a)(17) (or such other dollar limitation as may be set by the Committee in its sole discretion for any Year).

(w)    “Exchange Act” means the Securities Exchange Act of 1934, as amended.

(x)    “Investment Options” means those hypothetical targeted investment options designated by the Committee as measurements of the rate of return to be credited to (or charged against) Participants’ EDCP Ledgers. 

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(y)    “Participant” means any Eligible Employee or Director who is participating in the Plan in accordance with the provisions herein set forth. If a Participant had previously deferred amounts credited to a EDCP Ledger and such Participant is no longer eligible to participate hereunder (for example, due to a Committee designation of his ineligibility), he shall be covered under this Plan as an inactive Participant. Except for those provisions related to deferral opportunities, references herein to a Participant shall be deemed to include references to such inactive Participants, unless otherwise required by the context. 

(z)    “Performance Share Award” means the amount payable from the Performance Share Award portion of the SCANA Corporation Long-Term Equity Compensation Plan to a Participant who is an Eligible Employee in a Year.

(aa)    “Qualified Plan” means the SCANA Corporation Stock Purchase-Savings Plan, as amended from time to time.
    
(bb)     “Retainer Fee” means the amount of compensation payable to a Director with respect to services rendered to the Corporation as a Director for a Year under the Director Plan. With respect to Retainer Fee amounts deferred by a Director under this Plan, the Corporation or its delegate shall designate a portion of the Retainer Fee as the “Stock Retainer Fee” and a portion of the Retainer Fee as the “Cash Retainer Fee.”      

(cc)    “Separation from Service” means: 
    
(i)    with respect to an Employee, any termination of the employment relationship from the Company and any affiliates and, with respect to post-2004 EDCP Ledgers, any separation from service from the Company and its affiliates as determined in a manner consistent with Code Section 409A and the guidelines issued thereunder; and

(ii)    with respect to a Director, any separation from service from the Company and its affiliates as determined in a manner consistent with Code Section 409A and the guidelines issued thereunder. 

(dd)    “Stock Retainer Deferral” means the deferrals of Cash Retainer Fee amounts made by a Participant who is a Director under this Plan. 
    
(ee)    “Year” means the calendar year.

2.2    Gender and Number.   Except when otherwise indicated by the context, any masculine terminology used herein also shall include the feminine and the feminine shall include the masculine, and the use of any term herein in the singular may also include the plural and the plural shall include the singular. 

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SECTION 3. ELIGIBILITY AND PARTICIPATION
3.1    Eligibility. 

 (a)    An Eligible Employee shall become eligible to participate in this Plan as follows:

(i)    To be eligible to participate in this Plan for purposes of making Basic Deferrals or Additional Deferrals (and to benefit from Employer Matching Deferrals) for any Year, the Eligible Employee must earn Compensation during that Year in excess of the applicable dollar limitation on compensation under Code Section 401(a)(17) (or such other dollar limitation as may be set by the Committee in its sole discretion for any Year before the beginning of such Year) and the Eligible Employee must have elected to defer the maximum allowable pre-tax deferrals under the Qualified Plan for the Year. 

(ii)    Eligible Employees are automatically eligible to participate in this Plan for purposes of making Bonus Deferrals. 

(b)    A Director shall become eligible to participate in the Plan for purposes of making Cash Retainer Deferrals and Stock Retainer Deferrals upon his satisfaction of the Corporation’s minimum share ownership guidelines applicable to Directors, as certified by the Board. 

(c)    All Eligible Employees and Directors will be required, as a condition of participation, to execute such written participation agreements as required by the Committee from time to time. 

3.2    Participation.    An Employee or Director who meets the eligibility requirements of Section 3.1 may become a Participant in this Plan by electing to defer a portion of his Excess Compensation, Performance Share Award or Retainer Fee, as applicable, on such form and in such manner as determined by the Committee pursuant to Section 4. Eligible Employees who are participants in the Qualified Plan may automatically be deemed to have elected to defer a portion of their Excess Compensation hereunder in accordance with Section 4.

3.3    Continued Participation.   Once an Eligible Employee or Director becomes a Participant, he shall continue to be eligible to participate for all future years until his Separation from Service or death or unless and until the Committee shall designate that individual as ineligible to participate. If a Participant becomes ineligible to participate for future deferrals under this Plan, he shall retain all the rights described under this Plan with respect to deferrals previously made while an active Participant.

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SECTION 4. DEFERRALS
4.1    Deferral Election for Eligible Employees.   Subject to the conditions set forth in this Plan, a Participant who is an Eligible Employee may elect to defer amounts hereunder as follows:

(a)    Basic Deferrals.   An Eligible Employee may elect to defer Basic Deferrals under this Plan in whole percentages up to six percent (6%) of his Excess Compensation. 

(b)    Additional Deferrals.   An Eligible Employee may elect to defer Additional Deferrals under this Plan in whole percentages up to nineteen percent (19%) of his Excess Compensation. 

(c)    Bonus Deferrals.   An Eligible Employee may elect to defer under this Plan, in whole percentages, up to one hundred percent (100%) of his Performance Share Award otherwise payable for a Year, as a Bonus Deferral.

(d)    Deferral Procedures for Basic and Additional Deferrals.   Except as provided in Section 4.1(f), all elections under Section 4.1(a) and Section 4.1(b) must be made at such time and in such manner as specified by the Committee prior to the beginning of the Year in which such Excess Compensation is otherwise earned. The Committee is permitted but not required to establish deferral procedures pursuant to which Participants are eligible to make separate deferral elections with respect to base salary and short-term incentive awards. Once a Basic Deferral or Additional Deferral election is made (or deemed to be made) for a Year, it shall remain in effect for all future Excess Compensation otherwise payable in all future pay periods during that Year. Such election shall also remain in effect for future Years unless affirmatively changed by the Participant in accordance with the terms of the Plan and the procedures implemented hereunder prior to the beginning of such Year. Eligible Employee Basic Deferrals and Additional Deferrals shall be credited to the Participant’s EDCP Ledger(s) at such times and in such manner as determined by the Committee, in its sole discretion, but no less frequently than monthly.

(e)    Deferral Procedures for Bonus Deferrals.   Elections made under Section 4.1(c) must be made no later than June 30 of the first Year of the three-Year award cycle established under the Performance Share Award portion of the SCANA Corporation Long-Term Equity Compensation Plan, and shall apply to the Participant’s award that is otherwise payable, if at all, in the Year following the end of the three-Year award cycle; provided that in order to be eligible to make the election by such June 30 date, the Participant continuously performs services from the beginning of the performance period through the date on which the election is made. Any such Bonus Deferral election shall also apply with respect to awards payable in future Years of such three-Year award cycle unless affirmatively changed by the Participant in accordance with the procedures established by the Committee prior to June 30 of any of the Years in the three-Year award cycle applicable to such award with respect to which a change is requested. Any Bonus Deferral election shall also apply with respect to awards payable pursuant to future three-Year award cycles unless affirmatively changed by the Participant in accordance with the terms of the Plan and the procedures implemented hereunder prior to June 30 of the first Year of the future three-Year award cycle. Eligible Employee Bonus Deferrals shall be credited to the Participant’s EDCP Ledger(s) in such manner as determined 

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by the Committee, in its sole discretion, but no later than as of the last business day of the month following the month in which the Participant’s Performance Share Award is otherwise payable.

(f)    Deferral Procedures for Newly Eligible Employees.  In the case of a person who first becomes an Eligible Employee during a Year (and is not eligible for any other plan with which this Plan is aggregated for purposes of Code Section 409A), elections under Section 4.1(a), 4.1(b), and 4.1(c) for such Year must be made within thirty (30) days of the date the Employee becomes an Eligible Employee, and shall apply only to amounts paid for services to be performed after the date of such election.

4.2    Deferral Election for Directors.   Subject to the conditions set forth in this Plan, a Participant who is a Director may elect to defer amounts hereunder as follows:

(a)    Cash Retainer Deferrals.   A Director who has not elected to defer all or a portion of his Cash Retainer Fee amounts for a Year under the Director Plan may elect to defer Cash Retainer Deferrals under this Plan in whole percentages up to one hundred percent (100%) of his Cash Retainer Fee amounts for a Year.  

(b)    Stock Retainer Deferrals.   A Director who has not elected to defer all or a portion of his Stock Retainer Fee amounts under the Director Plan for a Year may elect to defer Stock Retainer Deferrals under this Plan of one hundred percent (100%) of his Stock Retainer Fee amounts for a Year. For clarity, if a Director elects to defer Stock Retainer Fee amounts under this Plan for a Year, he must deferral all of his Stock Retainer Fee and may not defer less than one hundred percent (100%) of his Stock Retainer Fee amounts for such Year under this Plan.

(c)    Deferral Procedures for Cash Retainer Deferrals and Stock Retainer Deferrals.   All elections under Section 4.2(a) and 4.2(b) must be made at such time and in such manner as specified by the Committee prior to the beginning of the Year in which such Retainer Fee amounts are otherwise earned. The Committee is permitted but not required to establish deferral procedures pursuant to which Participants are eligible to make separate deferral elections with respect to Cash Retainer Fees and Stock Retainer Fees. Once a Cash Retainer Deferral or Stock Retainer Deferral election is made (or deemed to be made) for a Year, it shall remain in effect for all future Retainer Fees otherwise payable in all future periods during that Year. Such election shall also remain in effect for future Years unless affirmatively changed by the Participant in accordance with the terms of the Plan and the procedures implemented hereunder prior to the beginning of such Year. Director Cash Retainer Deferrals and Stock Retainer Deferrals shall be credited to the Participant’s EDCP Ledger(s) at such times and in such manner as determined by the Committee, in its sole discretion, but no less frequently than quarterly.

4.3    Crediting of Employer Matching Deferrals.   Any Participant who has elected to make a deferral under Section 4.1(a) or 4.1(b) for a Year will be credited with an Employer Matching Deferral for such Year of an amount equal to such deferral, provided that the total amount of a Participant’s Employer Matching Deferral for any Year shall not exceed an amount equal to 6% of the Participant’s Excess Compensation. Such Employer Matching Deferrals shall be credited 

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to the Participant’s “Separation from Service” EDCP Ledger at such times and in such manner as the Committee, in its sole discretion determines, but no less frequently than monthly. 

4.4    Deferral Period.   With respect to deferrals made in accordance with Section 4.1 or Section 4.2, each Participant may elect the deferral period for each separate deferral. Subject to the modification of deferral date provisions of Section 4.6 and the acceleration provisions of Section 6, (i) a Participant who is an Eligible Employee may elect to defer his Basic Deferrals, Additional Deferrals, and Bonus Deferrals until his Separation from Service or until a date certain; provided, however, that any post-2004 deferrals must have the same date certain; and (ii) a Participant who is a Director may elect to defer his Cash Retainer Deferrals and Stock Retainer Deferrals only until his Separation from Service. All deferrals are subject to the establishment of EDCP Ledgers in accordance with Section 5.1 and any additional limitations that the Committee in its sole discretion may choose to apply (which limitations shall be applied in accordance with Code Section 409A with respect to post-2004 EDCP Ledgers). 

Notwithstanding any “date certain” deferral period election otherwise made by a Participant who is an Eligible Employee (or any modification thereof under Section 4.6), and except as otherwise provided in Section 4.5(b) in connection with a modification of the form of distribution for post-2004 EDCP Ledger(s), payments of deferred amounts hereunder shall be paid or begin to be paid as soon as practicable following the earliest to occur of:

(a)    Death,

(b)    “Disability,” as defined by the long-term disability provisions of the SCANA Corporation Health and Disability Plan (but only for pre-2005 EDCP Ledgers), or

(c)    Separation from Service for any reason, subject to the rules in Section 6.6 applicable to “specified employees.” 

4.5    Form of Payment of Deferred Amounts.   At the same time as the election made pursuant to Section 4.1, Section 4.2 and Section 4.4, and subject to the acceleration provisions of Section 6, each Participant must also elect the manner in which his deferred amounts will be paid. 

(a)    Mandatory Single Sum Cash Payments.   All amounts that are to be paid at a date certain prior to a Participant’s Separation from Service, death, or Disability (but only for pre-2005 EDCP Ledgers) must be paid in the form of a single sum cash payment. Also, except as provided in Section 4.5(b), all deferred amounts otherwise payable upon a Participant’s Separation from Service, death, or Disability (but only for pre-2005 EDCP Ledgers) shall be paid in the form of a single sum cash payment. 

(b)    Optional Forms of Distribution.   In lieu of a single sum cash payment, a Participant may elect to have all amounts payable hereunder on account of Separation from Service after his attainment of age 55, death while employed or providing service as a Director, as applicable, and after attainment of age 55, or Separation from Service due to Disability (but only for pre-2005 EDCP Ledgers), paid in the form of annual installment payments over a period not to exceed five (5) years 

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for the post-2004 EDCP Ledger (fifteen (15) years for pre-2005 EDCP Ledgers) commencing as soon as practicable after such Separation from Service, death or Disability (only for pre-2005 EDCP Ledgers). A Participant may elect to change his election as to the form of payment of deferred amounts at any time before his Separation from Service; provided, however, that an election as to a form of payment shall not be valid unless it has been in effect for at least twelve (12) months before the Participant’s Separation from Service, death or Disability (only for pre-2005 EDCP Ledgers) and, for post-2004 EDCP Ledgers, the Participant postpones the commencement date for five (5) years beyond the date payment would otherwise have commenced in the absence of the election. If an election otherwise made is not effective because it was not in effect for at least twelve (12) months before the Participant’s Separation from Service, death or Disability (but only for pre-2005 EDCP Ledgers), the last valid distribution election shall be effective or, in the absence of a valid election, all amounts shall be paid in the form of a single sum cash payment. Unless specifically elected otherwise, payments of all deferred amounts will be made in a single lump sum cash payment paid as soon as practicable after the conclusion of the applicable deferral period pursuant to Section 4.4.

4.6    Modification of Deferral Date.   A Participant who is an Eligible Employee may request that the Committee approve a modification to his “date certain” deferral, as follows:

(a)    A Participant may request that the Committee approve an additional deferral period of at least sixty (60) months for the post-2004 EDCP Ledger (at least twelve (12) months for the pre-2005 EDCP Ledger) with respect to any amount that was initially deferred to a “date certain” EDCP Ledger. Any such request must be made, in accordance with such procedures established by the Committee, in its discretion, at least twelve (12) months before the expiration of the date certain deferral period for the deferred amount for which an additional deferral election is requested. Notwithstanding the foregoing, if a Participant had previously deferred amounts to a “Separation from Service” EDCP Ledger and subsequently elected to accelerate the distribution of all or part of such amounts attributable to pre-2005 EDCP Ledgers to a date certain, pursuant to Section 6.4(b), that election is irrevocable and the Participant may not make any further deferral elections with respect to such amounts.

(b)    A Participant may request, in accordance with such procedures established by the Committee, in its discretion, that the Committee approve a modified deferral date for the Participant’s “date certain” pre-2005 EDCP Ledger as long as the modified deferral date is no earlier than twelve (12) months from the date of such election and the original date certain to which amounts were deferred is not within twelve (12) months from the date of such modification election. 

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SECTION 5. EDCP LEDGERS – DEFERRED COMPENSATION ACCOUNTS
5.1    Participant Accounts.   The Committee shall establish and maintain for each Participant a bookkeeping account or accounts to track deferrals made by such Participant. Such accounts shall be referred to herein as “EDCP Ledgers.” Deferred amounts shall be credited to each Participant’s EDCP Ledger(s) at such times as required under Section 4. Effective as of January 1, 2002, no more than two EDCP Ledgers may be established at any time for any Participant reflecting amounts deferred to a date certain for Eligible Employee’s only (the Participant’s “date certain” EDCP Ledger) separately from amounts initially deferred to Separation from Service (the Participant’s “Separation from Service” EDCP Ledger). Each such EDCP Ledger shall separately reflect the pre-2005 deferrals and post-2004 deferrals. Once amounts are completely paid from the “date certain” EDCP Ledger for a Participant who is an Eligible Employee, such Participant may establish a new “date certain” EDCP Ledger for future deferrals. In addition to deferrals otherwise provided for under Section 4, any Participant’s cash balance account amounts transferred to this Plan from the KERP shall be credited to the Participant’s pre-2005 “Separation from Service” EDCP Ledger.

5.2    Hypothetical Earnings    .  Additional amounts shall be credited to (or deducted from) a Participant’s EDCP Ledgers to reflect the hypothetical earnings (or losses) that would have been experienced had the deferred amounts been invested in the Investment Options selected by the Participant pursuant to his investment election. The Committee shall establish such procedures as it deems necessary, in its sole discretion, to allow Participants the ability to designate that all or a portion of amounts deferred to their EDCP Ledgers be hypothetically invested among the Investment Options. The Committee is authorized to select an Investment Option to serve as a default Investment Option in the absence of an actual election by any Participant. All amounts credited to Participants’ EDCP Ledgers shall continue to be hypothetically invested among the Investment Options until such amounts are paid in full to the Participant (or his Beneficiary). Notwithstanding the foregoing, and subject to Section 9.2, no Participant shall have a right to designate the specific actual investment of deferred amounts.

5.3    Charges Against Accounts.   There shall be charged against each Participant’s account any payments made to the Participant or to his Beneficiary in accordance with Section 6 hereof.

 12 

SECTION 6. PAYMENT OF DEFERRED AMOUNTS
6.1    Payment of Deferred Amounts.   Payment of a Participant’s EDCP Ledger(s), including accumulated hypothetical earnings (or losses), shall be paid in cash commencing with the conclusion of the deferral period otherwise provided in Section 4. The payments shall be made in the manner selected by the Participant under Section 4.5. The amount of any annual installment payment shall equal the Participant’s distributable EDCP Ledger(s), determined as of the last day of the month preceding the payment date multiplied by a fraction, the numerator of which is one and the denominator of which is the number of installment payments remaining to be paid.

6.2    Acceleration of Payments.   Notwithstanding the deferral period otherwise applicable to deferred amounts hereunder:

(a)    if a Participant dies after commencement of installment payments and prior to the payment of all amounts credited to his EDCP Ledger(s), the balance of any amount payable shall continue to be paid in installment distributions, unless:

(i)     with respect to pre-2005 EDCP Ledgers only, the Participant’s Beneficiary is not a natural person (or a trust, the beneficiary of which is a natural person); 

(ii)    the Participant’s Beneficiary elects to accelerate the amounts remaining to be paid, pursuant to Section 6.3 or Section 6.4 (with respect to pre-2005 EDCP Ledgers); or

(iii)    if a Participant dies after commencement of installment payments and prior to the payment of all amounts credited to his EDCP Ledger(s), the balance of any amount payable with respect to post-2004 EDCP Ledger(s) shall be paid in a lump sum; and

(b)    if the total amount payable from a Participant’s pre-2005 EDCP Ledger(s) is less than five thousand dollars ($5,000) (one hundred thousand dollars ($100,000) for post-2004 Ledger(s)) at the time for payment specified, such amount shall be paid in a lump sum.

6.3    Unforeseeable Emergency.   At any time before the time an amount is otherwise payable hereunder, a Participant (or the Participant’s Beneficiary) may request, pursuant to such procedures prescribed by the Committee in its sole discretion, a single sum cash distribution of all or a portion of the amounts credited to his EDCP Ledger(s) due to the Participant’s (or the Beneficiary’s) severe financial hardship, subject to the following requirements set forth in this Section 6.3. The rules set forth in this Section 6.3 govern distributions of post-2004 EDCP Ledgers in the case of an unforeseeable emergency. Distributions of pre-2005 EDCP Ledgers in the case of an unforeseeable emergency shall be governed by terms of the Plan in effect as of October 3, 2004.

(a)    Such distribution shall be made, in the sole discretion of the Committee, in the case of an unforeseeable emergency, which shall be limited to a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the Participant’s spouse, the Participant’s Beneficiary, or of a Participant’s dependent (as defined in Code Section 152, without regard to Code Sections 152(b)(1), (b)(2), and (d)(1)(B)), loss of the Participant’s property due to casualty (including 

 13 

the need to rebuild a home following damage to a home not otherwise covered by insurance, for example, not as a result of a natural disaster); or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. Examples of events that may constitute an unforeseeable emergency include the imminent foreclosure of or eviction from the Participant’s primary residence; the need to pay for medical expenses, including non-refundable deductibles, as well as for the costs of prescription drug medication; and the need to pay for the funeral expenses of the Participant’s spouse, the Participant’s Beneficiary, or the Participant’s dependent (as defined in Code Section 152, without regard to Code Sections 152(b)(1), (b)(2), and (d)(1)(B)). 
 
(b)    Whether a Participant is faced with an unforeseeable emergency will be determined based on the relevant facts and circumstances of each case, but, in any case, a distribution on account of an unforeseeable emergency may not be made to the extent that such emergency is or may be relieved: 

(i)    through reimbursement or compensation by insurance or otherwise,
    
(ii)    by liquidation of the individual’s assets, to the extent the liquidation of such assets would not itself cause severe financial hardship, or

(iii)    by cessation of deferrals under the Plan.

Examples of circumstances that are not considered to be unforeseeable emergencies include the need to send an individual’s child to college or the desire to purchase a home.

(c)    In all events, the amount available for distribution on account of an unforeseeable emergency pursuant to this Section 6.3 shall be limited to the amount reasonably necessary to satisfy the emergency need (which may include amounts necessary to pay any federal, state, local, or foreign income taxes or penalties reasonably anticipated to result from the distribution), and shall be determined in accordance with Code Section 409A and the regulations thereunder. The Committee may require such evidence of the individual’s severe financial hardship as it deems appropriate. The Committee shall consider any requests for payment under this Section 6.3 in accordance with the standards of interpretation described in Code Section 409A and the regulations and other guidance thereunder.

(d)    All distributions under this Section 6.3 shall be made from the Participant’s EDCP Ledger(s) as soon as practicable after the Committee has approved the distribution and the amounts credited to the Participant’s EDCP Ledger(s) shall be reduced on a pro rata basis among his elected Investment Options to reflect the accelerated distribution. 

6.4    Acceleration Subject to Substantial Limitations.   At any time before an amount is otherwise payable hereunder, a Participant (or the Participant’s Beneficiary) may request, pursuant to such procedures prescribed by the Committee in its sole discretion, that an accelerated distribution of all or a portion of the amounts credited to his pre-2005 EDCP Ledger(s) be made pursuant to the following provisions:

 14 

(a)    An individual may accelerate all or any portion of his pre-2005 EDCP Ledger(s) and have such amount paid in the form of a single sum cash payment as soon as practicable after receipt of such request by the Committee; provided, however, that an amount equal to ten percent (10%) of the amount requested by the Participant will be forfeited from the Participant’s EDCP Ledger(s) immediately prior to such payment.

(b)    In lieu of (or in addition to) any acceleration payment under Section 6.4(a) above, an individual may elect to accelerate the payment of all or any portion of the amounts otherwise payable from his pre-2005 EDCP Ledger(s), provided that:

(i)    the accelerated amounts are not otherwise payable within twelve (12) months of the date of such election;

(ii)    the accelerated amounts must be paid in the form of a single sum cash payment at the date specified by the individual; and

(iii)    the accelerated payment may not be paid any earlier than twelve (12) months after the date such acceleration election is received by the Committee. 

(c)    No individual may make more than two acceleration elections with respect to the individual’s pre-2005 EDCP Ledger(s) in any Year.

(d)    All distributions under this Section 6.4 shall be made from the Participant’s pre-2005 EDCP Ledger(s) in a single sum cash payment as soon as practicable after the date approved by the Committee and the amounts credited to the Participant’s pre-2005 EDCP Ledger(s) shall be reduced on a pro rata basis among his elected Investment Options to reflect the accelerated distribution.

6.5    Committee Modification of Installment Distribution Options.   Notwithstanding anything to the contrary in this Plan, the Committee, in its sole discretion, may choose to accelerate any installment distribution amounts otherwise payable hereunder from pre-2005 Ledgers to a Participant (or Beneficiary), with or without the consent of the Participant (or Beneficiary). 

6.6    Delay in Distribution for Specified Employees.   Notwithstanding anything to the contrary in this Plan, if the Participant is a “specified employee,” as determined in accordance with procedures adopted by the Corporation that reflect the requirements of Code Section 409A(a)(2)(B)(i), distribution of the post-2004 EDCP Ledgers which is made on account of the Participant’s Separation from Service shall be deferred until the earlier of (i) first day of the seventh month following the Participant’s Separation from Service (without regard to whether the Participant is reemployed on that date) or (ii) the date of the Participant’s death.

6.7    Compliance with Domestic Relations Order.   Notwithstanding anything to the contrary in this Plan, a distribution shall be made from the Participant's EDCP Ledgers to an individual other than the Participant to the extent necessary to comply with a domestic relations order (as defined in Code Section 414(p)(1)(B)).

 15 

SECTION 7. BENEFICIARY DESIGNATION
7.1    Designation of Beneficiary.   A Participant shall designate a Beneficiary or Beneficiaries who, upon the Participant’s death, are to receive the amounts that otherwise would have been paid to the Participant. All designations shall be in writing and signed by the Participant. The designation shall be effective only if and when delivered to the Corporation during the lifetime of the Participant. The Participant also may change his Beneficiary or Beneficiaries by a signed, written instrument delivered to the Corporation. The payment of amounts shall be in accordance with the last unrevoked written designation of Beneficiary that has been signed and delivered to the Corporation. All Beneficiary designations shall be addressed to the Secretary of SCANA Corporation and delivered to his office.

7.2    Death of Beneficiary.

(a)    In the event that all of the Beneficiaries named in Section 7.1 predecease the Participant, the amounts that otherwise would have been paid to said Beneficiaries shall, where the designation fails to redirect to alternate Beneficiaries in such circumstance, be paid to the Participant’s estate as the alternate Beneficiary.

(b)    In the event that two or more Beneficiaries are named, and one or more but less than all of such Beneficiaries predecease the Participant, each surviving Beneficiary shall receive any dollar amount or proportion of funds designated or indicated for him per the designation of Section 7.1, and the dollar amount or designated or indicated share of each predeceased Beneficiary which the designation fails to redirect to an alternate Beneficiary in such circumstance shall be paid to the Participant’s estate as an alternate Beneficiary.

7.3    Ineffective Designation.

(a)    In the event the Participant does not designate a Beneficiary, or if for any reason such designation is entirely ineffective, the amounts that otherwise would have been paid to the Beneficiary shall be paid to the Participant’s estate as the alternate Beneficiary.

(b)    In the circumstance that designations are effective in part and ineffective in part, to the extent that a designation is effective, distribution shall be made so as to carry out as closely as discernable the intent of the Participant, with result that only to the extent that a designation is ineffective shall distribution instead be made to the Participant’s estate as an alternate Beneficiary.

 16 

SECTION 8. CHANGE IN CONTROL PROVISIONS
8.1    Successors.   Notwithstanding anything in this Plan to the contrary, upon the occurrence of a Change in Control, the Company will require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) of all or substantially all of the business and/or assets of the Company or of any division or subsidiary thereof to expressly assume and agree to perform this Plan in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place, subject to the remaining provisions of this Section 8.1. Participants shall become entitled to benefits hereunder in accordance with the terms of this Plan based on amounts credited to each Participant’s EDCP Ledger(s) as of the date of such Change in Control plus accumulated hypothetical earnings (or losses) attributable thereto (adjusted to reflect any change from the most recent EDCP Ledger calculation to the end of the month prior to the month such amounts are distributed to each Participant, based on the Investment Options in effect at such time). In the case of any Change in Control, any successor to the Company shall not be required to provide for additional deferral of benefits beyond the date of such Change in Control except as required under Code Section 409A. 

8.2    Amendment and Termination After Change in Control.  Notwithstanding the foregoing, and subject to this Section 8, no amendment, modification or termination of the Plan may be made, and no Participants may be added to the Plan, upon or following a Change in Control if it would have the effect of reducing any benefits earned (including optional forms of distribution) by any Participant prior to such Change in Control without the written consent of all of the Plan’s Participants covered by the Plan at such time. In all events, however, the Corporation reserves the right to amend, modify or delete the provisions of Section 8 at any time prior to a Change in Control, pursuant to a Board resolution adopted by a vote of two-thirds (2/3) of the Board members then serving on the Board.

 17 

SECTION 9. GENERAL PROVISIONS
9.1    Contractual Obligation.   It is intended that the Corporation is under a contractual obligation to make payments from a Participant’s account when due. Payment of account balances shall be made out of the general funds of the Corporation as determined by the Board without any restriction of the assets of the Corporation relative to the payment of such contractual obligations; the Plan is, and shall operate as, an unfunded plan.

9.2    Unsecured Interest.   No Participant or Beneficiary shall have any interest whatsoever in any specific asset of the Corporation. To the extent that any person acquires a right to receive payment under this Plan, such right shall be no greater than the right of any unsecured general creditor of the Corporation.

9.3    “Rabbi” Trust.   In connection with this Plan, the Board has established a grantor trust (known as the “SCANA Corporation Executive Benefit Plan Trust” and referred to herein as the “Trust”) for the purpose of accumulating funds to satisfy the obligations incurred by the Corporation under this Plan (and such other plans and arrangements as determined from time to time by the Corporation). At any time prior to a Change in Control, as that term is defined in such Trust, the Corporation may transfer assets to the Trust to satisfy all or part of the obligations incurred by the Corporation under this Plan, as determined in the sole discretion of the Committee, subject to the return of such assets to the Corporation at such time as determined in accordance with the terms of such Trust. Notwithstanding the establishment of the Trust, the right of any Participant to receive future payments under the Plan shall remain an unsecured claim against the general assets of the Corporation.

9.4    Employment/Participation Rights.

(a)    Nothing in the Plan shall interfere with or limit in any way the right of the Company to terminate any Participant’s employment or service at any time, nor confer upon any Participant any right to continue in the employ or service of the Company.

(b)    Nothing in the Plan shall be construed to be evidence of any agreement or understanding, express or implied, that the Company will continue to employ or require the services of a Participant in any particular position or at any particular rate of remuneration.

(c)    No employee or director shall have a right to be selected as a Participant, or, having been so selected, to be selected again as a Participant.

(d)    Nothing in this Plan shall affect the right of a recipient to participate in and receive benefits under and in accordance with any pension, profit-sharing, deferred compensation or other benefit plan or program of the Company.

 18 

9.5    Nonalienation of Benefits.

(a)    Subject to Section 6.7, no right or benefit under this Plan shall be subject to anticipation, alienation, sale, assignment, pledge, encumbrance, or change, and any attempt to anticipate, alienate, sell, assign, pledge, encumber or change the same shall be void; nor shall any such disposition be compelled by operation of law.

(b)    No right or benefit hereunder shall in any manner be liable for or subject to the debts, contracts, liabilities, or torts of the person entitled to benefits under the Plan.

(c)    If any Participant or Beneficiary hereunder should become bankrupt or attempt to anticipate, alienate, sell, assign, pledge, encumber, or change any right or benefit hereunder (other than as permitted in Section 6.7), then such right or benefit shall, in the sole discretion of the Committee, cease, and the Committee shall direct in such event that the Corporation hold or apply the same or any part thereof for the benefit of the Participant or Beneficiary in such manner and in such proportion as the Committee may deem proper.

9.6    Severability.  If any particular provision of the Plan shall be found to be illegal or unenforceable for any reason, the illegality or lack of enforceability of such provision shall not affect the remaining provisions of the Plan, and the Plan shall be construed and enforced as if the illegal or unenforceable provision had not been included.

9.7    No Individual Liability.  It is declared to be the express purpose and intention of the Plan that no liability whatsoever shall attach to or be incurred by the shareholders, officers, or directors of the Corporation or any representative appointed hereunder by the Corporation, under or by reason of any of the terms or conditions of the Plan.

9.8    Applicable Law    .  This Plan shall be governed by and construed in accordance with the laws of the State of South Carolina except to the extent governed by applicable federal law (including the requirements of Code Section 409A).

 19 

SECTION 10. PLAN ADMINISTRATION, AMENDMENT AND TERMINATION
10.1    In General.   This Plan shall be administered by the Committee, which shall have the sole authority, in its sole discretion, to construe and interpret the terms and provisions of the Plan and determine the amount, manner and time of payment of any benefits hereunder. The Committee shall maintain records, make the requisite calculations and disburse payments hereunder, and its interpretations, determinations, regulations and calculations shall be final and binding on all persons and parties concerned. The Committee may adopt such rules as it deems necessary, desirable or appropriate in administering this Plan and the Committee may act at a meeting, in a writing without a meeting, or by having actions otherwise taken by a member of the Committee pursuant to a delegation of duties from the Committee. 

10.2    Claims Procedure.    Any person dissatisfied with the Committee’s determination of a claim for benefits hereunder must file a written request for reconsideration with the Committee. This request must include a written explanation setting forth the specific reasons for such reconsideration. The Committee shall review its determination promptly and render a written decision with respect to the claim, setting forth the specific reasons for such denial written in a manner calculated to be understood by the claimant. Such claimant shall be given a reasonable time within which to comment, in writing, to the Committee with respect to such explanation. The Committee shall review its determination promptly and render a written decision with respect to the claim. Such decision upon matters within the scope of the authority of the Committee shall be conclusive, binding, and final upon all claimants under this Plan. 

10.3    Finality of Determination.   The determination of the Committee as to any disputed questions arising under this Plan, including questions of construction and interpretation, shall be final, binding, and conclusive upon all persons.

10.4    Delegation of Authority.   The Committee may, in its discretion, delegate its duties to an officer or other Employee of the Company, or to a committee composed of officers or Employees of the Company. 

10.5    Expenses.   The cost of payment from this Plan and the expenses of administering the Plan shall be borne by the Corporation.     

10.6    Tax Withholding.  The Corporation shall have the right to deduct from all payments made from the Plan any federal, state, or local taxes required by law to be withheld with respect to such payments.

10.7    Incompetency.  Any person receiving or claiming benefits under the Plan shall be conclusively presumed to be mentally competent and of age until the Committee receives written notice, in a form and manner acceptable to it, that such person is incompetent or a minor, and that a guardian, conservator, statutory committee under the South Carolina Code of Laws, or other person legally vested with the care of his estate has been appointed. In the event that the Committee finds that any person to whom a benefit is payable under the Plan is unable to properly care for his affairs, or is a minor, then any payment due (unless a prior claim therefor shall have been made by a duly 

 20 

appointed legal representative) may be paid to the spouse, a child, a parent, or a brother or sister, or to any person deemed by the Committee to have incurred expense for the care of such person otherwise entitled to payment.

In the event a guardian or conservator or statutory committee of the estate of any person receiving or claiming benefits under the Plan shall be appointed by a court of competent jurisdiction, payments shall be made to such guardian or conservator or statutory committee provided that proper proof of appointment is furnished in a form and manner suitable to the Committee. Any payment made under the provisions of this Section 10.7 shall be a complete discharge of liability therefor under the Plan.

10.8    Notice of Address.   Any payment made to a Participant or to his designated Beneficiary at the last known post office address of the distributee on file with the Corporation, shall constitute a complete acquittance and discharge to the Corporation and any director or officer with respect thereto, unless the Corporation shall have received prior written notice of any change in the condition or status of the distributee. Neither the Corporation nor any director or officer shall have any duty or obligation to search for or ascertain the whereabouts of the Participant or his designated Beneficiary.

10.9    Amendment and Termination.  The Corporation expects the Plan to be permanent but, because future conditions affecting the Corporation cannot be anticipated or foreseen, the Corporation reserves the right to amend, modify, or terminate the Plan at any time by action of its Board, subject to Section 8.2 and subject to the requirements of Code Section 409A with respect to post-2004 EDCP Ledgers; provided, however, that any such action shall not diminish retroactively any amounts, both deferred amounts and any hypothetical earnings (or losses) thereon, which have been credited to any Participant’s EDCP Ledger(s). If the Board amends the Plan to cease future deferrals hereunder or terminates the Plan, the Board may, in its sole discretion, direct that the value of each Participant’s EDCP Ledger(s) be paid to each Participant (or Beneficiary, if applicable) in an immediate lump sum payment; provided, however, that in the case of any post-2004 EDCP Ledger(s), the requirements of Reg. § 1.409A-3(j)(4)(ix) are met. In the absence of any such direction from the Board, the Plan shall continue as a “frozen” plan under which no future deferrals will be recognized unless required under Code Section 409A (however, hypothetical earnings (or losses) shall continue to be recognized in accordance with the Investment Options that continue to be made available under the Plan) and each Participant’s benefits shall be paid in accordance with the otherwise applicable terms of the Plan. 
  
10.10    Plan to Comply with Code Section 409A.  Notwithstanding any provision to the contrary in this Plan, each provision of this Plan shall be interpreted to permit deferrals of Excess Compensation and the payment of deferred amounts in accordance with Code Section 409A and any provision that would conflict with such requirements shall not be valid or enforceable.

 21 

SECTION 11. EXECUTION
IN WITNESS WHEREOF, as approved by the Board of Directors of the Corporation on November 25, 2014, the Corporation has caused this SCANA Corporation Executive Deferred Compensation Plan to be executed by its duly authorized officer this 9th day of January, 2015, to be effective as of the dates specified herein.

SCANA Corporation

By:  /s/Marty K. Phalen        
 Title:  Senior Vice President - SCANA Admin.
ATTEST:
/s/Gina Champion        
Secretary

 22Exhibit 10.05 - DCDP

Exhibit 10.05

SCANA CORPORATION
DIRECTOR COMPENSATION AND DEFERRAL PLAN
(including amendments through November 30, 2014)

SCANA CORPORATION
DIRECTOR COMPENSATION AND DEFERRAL PLAN
TABLE OF CONTENTS
Page
SECTION 1.  ESTABLISHMENT AND PURPOSE    1
		
	1.2
	ESTABLISHMENT OF THE PLAN    1

		
	1.2
	PURPOSE OF THE PLAN    1

SECTION 2.  DEFINITIONS    2
		
	2.1
	DEFINITIONS    2

		
	2.2
	GENDER AND NUMBER    4

SECTION 3.  ELIGIBILITY AND PARTICIPATION    5
		
	3.1
	ELIGIBILITY    5

		
	3.2
	ELECTION OF COMPENSATION PAYMENT    5

		
	3.3
	PAYMENT OF COMPANY STOCK    5

		
	3.4
	STOCK    5

		
	3.5
	ISSUANCE OF COMPANY STOCK    6

		
	3.6
	EFFECT OF STOCK DIVIDENDS AND OTHER CHANGES IN CAPITAL STRUCTURE    6

SECTION 4.  ELECTION TO DEFER    7
		
	4.1
	DEFERRAL ELECTION    7

		
	4.2
	DEFERRAL PERIOD    8

		
	4.3
	ELECTION TO DEFER A PREVIOUSLY DEFERRED AMOUNT OR CHANGE THE MANNER

OF PAYMENT    8
		
	4.4
	ELECTION TO CHANGE THE DEFERRAL PERIOD AND/OR FORM OF PAYMENT FOR

POST-2004 DCD LEDGERS    9
SECTION 5.  CREDITING AND INVESTMENT OF DEFERRALS    10
		
	5.1
	DCD LEDGER    10

		
	5.2
	ADJUSTMENT OF AMOUNTS CREDITED TO GROWTH INCREMENT LEDGER    10

		
	5.3
	ADJUSTMENT OF AMOUNTS CREDITED TO COMPANY STOCK LEDGER    10

		
	5.4
	DEEMED INVESTMENTS NOT ACTUAL INVESTMENTS    10

		
	5.5
	CHARGES AGAINST DCD LEDGER    10

SECTION 6.  PAYMENT OF DEFERRED AMOUNTS    11
		
	6.1
	PAYMENT OF DEFERRED AMOUNTS    11

		
	6.2
	MANNER OF PAYMENT    11

		
	6.3
	FORM OF PAYMENT    11

		
	6.4
	ACCELERATION OF PAYMENTS    12

		
	6.5
	FINANCIAL EMERGENCY    13

		
	6.6
	COMPLIANCE WITH DOMESTIC RELATIONS ORDER    14

SECTION 7.  BENEFICIARY DESIGNATION    15
		
	7.1
	DESIGNATION OF BENEFICIARY    15

		
	7.2
	DEATH OF BENEFICIARY    15

		
	7.3
	INEFFECTIVE DESIGNATION    15

i

SECTION 8.  CHANGE IN CONTROL PROVISIONS    16
		
	8.1
	SUCCESSORS    16

		
	8.2
	AMENDMENT AND TERMINATION AFTER CHANGE IN CONTROL    16

SECTION 9.  GENERAL PROVISIONS    17
		
	9.1
	CONTRACTUAL OBLIGATION    17

		
	9.2
	UNSECURED INTEREST    17

		
	9.3
	“RABBI” TRUST    17

		
	9.4
	NONALIENATION OF BENEFITS    17

		
	9.5
	SEVERABILITY    18

		
	9.6
	NO INDIVIDUAL LIABILITY    18

		
	9.7
	APPLICABLE LAW    18

SECTION 10.  PLAN ADMINISTRATION, AMENDMENT AND TERMINATION    19
		
	10.1
	IN GENERAL    19

		
	10.2
	CLAIMS PROCEDURE    19

		
	10.3
	FINALITY OF DETERMINATION    19

		
	10.4
	DELEGATION OF AUTHORITY    19

		
	10.5
	EXPENSES    19

		
	10.6
	TAX WITHHOLDING    19

		
	10.7
	INCOMPETENCY    19

		
	10.8
	ACTION BY COMPANY    20

		
	10.9
	NOTICE OF ADDRESS    20

		
	10.10
	AMENDMENT AND TERMINATION    20

		
	10.11
	PLAN TO COMPLY WITH CODE SECTION 409A    20

SECTION 11.  EXECUTION    21

ii

SCANA CORPORATION
DIRECTOR COMPENSATION AND DEFERRAL PLAN
SECTION 1. ESTABLISHMENT AND PURPOSE
		
	1.1
	Establishment of the Plan.   SCANA Corporation (the “Company”) established the SCANA Corporation Nonemployee Director Stock Plan, effective as of January 1, 1997. Effective as of January 1, 2001, the plan was renamed the “SCANA Corporation Director Compensation and Deferral Plan” (hereinafter called the “Plan”) and amended and restated to include a deferred compensation component. Effective as of January 1, 2009, the Plan was amended and restated to comply with the requirements of Code Section 409A. Effective as of December 31, 2009, the Plan was again amended and restated to reflect further modifications to comply with Code Section 409A as well as to implement certain design changes. Effective as of April 21, 2011, the Plan was again amended and restated. The Plan was most recently amended and restated as provided herein, effective as of November 30, 2014. 

		
	1.2
	Purpose of the Plan.   The purpose of the Plan is to promote the achievement of long-term objectives of the Company by linking the personal interests of Nonemployee Directors, as defined in Section 2(r) herein, to those of the Company’s shareholders and to attract and retain Nonemployee Directors of outstanding competence by mandating that a certain portion as may be determined from time to time of the Retainer Fee of each Participant as defined in Section 2(u) herein, be paid in Company Stock, unless such amount is voluntarily deferred to a future date in accordance with the Plan’s terms or pursuant to the SCANA Corporation Executive Deferred Compensation Plan (“EDCP”). The Plan is intended to conform to the provisions of Rule 16b-3 of the Securities Exchange Act of 1934, as amended, or any replacement rule in effect from time to time (“Rule 16b-3”). The Plan also provides a means by which Nonemployee Directors may defer certain additional amounts to some future period.

1

SECTION 2. DEFINITIONS
		
	2.1
	Definitions.   Whenever used herein, the following terms shall have the meanings set forth below, unless otherwise expressly provided herein or unless a different meaning is plainly required by the context, and when the defined meaning is intended, the term is capitalized:

(a)    “Act” means the Securities Exchange Act of 1934, as amended.
(b)    “Beneficial Owner” shall have the meaning ascribed to such term in Rule 13d-3 of the General Rules and Regulations under the Act.
(c)    “Beneficiary” means any person or entity who, upon the Participant’s death, is entitled to receive the Participant’s benefits under the Plan in accordance with Section 7 hereof.
(d)    “Board of Directors” means the board of directors of the Company.
(e)    “Change in Control” means a change in control of the Company of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Act, whether or not the Company is then subject to such reporting requirements; provided that, without limitation, such a Change in Control shall be deemed to have occurred if:
(i)    Any Person (as defined in Section 3(a)(9) of the Act and used in Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d)) is or becomes the Beneficial Owner, directly or indirectly, of twenty-five percent (25%) or more of the combined voting power of the outstanding shares of capital stock of the Company;
(ii)    During any period of two (2) consecutive years (not including any period prior to the execution of this Plan) there shall cease to be a majority of the Board of Directors comprised as follows: individuals who at the beginning of such period constitute the Board of Directors and any new director(s) whose election by the Board of Directors or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved; or
(iii)     The consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting shares of capital stock of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting shares of capital stock of the surviving entity) at least eighty percent (80%) of the combined voting power of the voting shares of capital stock of the Company or such surviving entity outstanding immediately after such merger or consolidation; or the shareholders of the Company approve a plan of complete liquidation of the 

2

Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets.
		
	(f)
	“Code” means the Internal Revenue Code of 1986, as amended.

(g)    “Company” means SCANA Corporation, a South Carolina corporation, or any successor thereto.
(h)    “Company Stock” means the no par value common stock of the Company. In the event of a change in the capital structure of the Company (as provided in Section 3.6), the shares resulting from such a change shall be deemed to be Company Stock within the meaning of the Plan.
(i)    “Company Stock Ledger” means an appropriate bookkeeping record established in the DCD Ledger for which amounts credited are converted into hypothetical credited shares of Company Stock.
(j)    “Compensation” means Retainer Fees payable to a Participant during a Service Period by the Company. 
		
	 
	(k)    “DCD Ledger” means an appropriate bookkeeping record which shall be established for each Participant which shall reflect: (1) the amounts deferred on behalf of each Participant; and (2) the crediting of deemed investments (and hypothetical earnings on those deemed investments) with respect to amounts deferred on behalf of each Participant. Each DCD Ledger shall separately reflect the pre-2005 and post-2004 deferrals and hypothetical earnings thereon, and the portion of the post-2004 deferrals and hypothetical earnings thereon payable at a date certain and the portion payable when the Participant separates from service from the Board of Directors (referred to herein as a Participant’s “pre-2005 DCD Ledger” and “post-2004 DCD Ledger”). A Participant’s pre-2005 DCD Ledger shall reflect amounts deferred hereunder before January 1, 2005 (and the earnings credited thereon before, on or after January 1, 2005) for which (i) the Participant had a legally binding right as of December 31, 2004, to be paid the amount, and (ii) such right to the amount was earned and vested as of December 31, 2004 and was credited to the Participant’s DCD Ledger hereunder. Pre-2005 DCD Ledgers are treated as “grandfathered” for the purposes of Code Section 409A, and are governed by the terms of the Plan in effect as of October 3, 2004.

(l)    “Director” means an individual who is a member of the Board of Directors.
(m)    “EDCP” means the SCANA Corporation Executive Deferred Compensation Plan. 
(n)    “Fair Market Value” of Company Stock shall mean:
(i)    in the case of any distribution, the closing price for shares of Company Stock on the New York Stock Exchange on the date of distribution; and
(ii)    in the case of any other transaction hereunder designed to track the investment or reinvestment of Company Stock, the closing price for shares of Company Stock on the New York Stock Exchange on the measuring date.

3

(o)    “Growth Increment” means the amount of interest credited to amounts credited to a Participant’s Growth Increment Ledger.
(p)    “Growth Increment Ledger” means an appropriate bookkeeping record established in the DCD Ledger for which amounts are credited with Growth Increments.
(q)    “Investor Plan” means the SCANA Investor Plus Plan.
(r)    “Nonemployee Director” means a Director who is not currently employed by the Company or any subsidiary of the Company (without regard to whether such individual was previously employed by the Company).
(s)    “Participant” means a Nonemployee Director satisfying the eligibility requirements of Section 3.
(t)    “Plan” means the SCANA Corporation Director Compensation and Deferral Plan.
(u)    “Retainer Fees” means the amount of compensation payable to each Participant with respect to services rendered to the Company as a Director for the Service Period. Such term includes annual leadership retainer fees payable to the Lead Director, Audit Committee Chair, Compensation Committee Chair, Nominating and Governance Committee Chair, Nuclear Oversight Committee Chair or any other retainer fee as determined by the Company or its delegate from time to time.
(v)    “Rule 16b-3” means Rule 16b-3 of the Act, as amended, or any replacement rule in effect from time to time.
(w)    “Service Period” means a calendar year.
		
	2.2
	Gender and Number    . Except when otherwise indicated by the context, any masculine terminology used herein also shall include the feminine and the feminine shall include the masculine, and the use of any term herein in the singular may also include the plural and the plural shall include the singular.

4

SECTION 3. ELIGIBILITY AND PARTICIPATION
		
	3.1
	Eligibility.   All Nonemployee Directors shall automatically be eligible to participate in this Plan.

		
	3.2
	Election of Compensation Payment. 

(a)    Unless otherwise deferred in accordance with Section 4 or under the EDCP, each Participant’s Retainer Fee amounts shall be paid to the Participant on a quarterly basis and such payment shall be made in shares of Company Stock or cash, as determined by the Company or its delegate. The portion of the Retainer Fee payment that is made in shares of Company Stock is referred to as the “Stock Retainer Fee” and the portion of the Retainer Fee payment that is made in cash is referred to as the “Cash Retainer Fee.” Notwithstanding anything to the contrary in this Plan, if a Participant elects to defer all or a portion of his Retainer Fee under the EDCP and in accordance with the terms of the EDCP, the Company or its delegate shall designate a portion of the Retainer Fee as the “Stock Retainer Fee” and a portion of the Retainer Fee as the “Cash Retainer Fee,” but no actual payment of shares of Company Stock shall be paid to such Participant and the terms of the EDCP will apply with respect to such deferred amounts.

(b)    With respect to all payments in Company Stock under this Section 3.2, and subject to Section 3.3, each Participant shall be entitled to a number of shares of Company Stock equal to the smallest number of whole shares of Company Stock which, when multiplied by Fair Market Value would equal no less than the equivalent amount of Compensation otherwise payable to the Participant. Any remaining amounts owed shall be deposited into an account in the Participant’s name in the Investor Plan. 

		
	3.3
	Payment of Company Stock.     In connection with amounts to be paid during a Service Period under Section 3.2 which are paid in the form of Company Stock, each Participant may elect to have the shares of Company Stock to be issued to him pursuant to the Plan during the Service Period registered in his name. In such case, all shares of Company Stock to be paid shall be issued as promptly as practicable after the amounts are otherwise payable. If a Participant does not make such an election, all shares issued pursuant to the Plan during the Service Period will be deposited into an account in his name in the Investor Plan. All cash dividends paid on shares deposited in the Investor Plan will be reinvested in additional shares of Company Stock unless the Participant notifies the Investor Plan in accordance with the terms thereof that he does not want to reinvest such dividends. During the last quarter of each calendar year in which there is a change in the prospectus for the Investor Plan, all Participants who have not been provided previously with a copy of such changed prospectus shall be provided with a copy of the then-current prospectus. In addition, each Participant who is not yet a participant in the Investor Plan shall be given an Investor Plan prospectus shortly before he becomes an Investor Plan participant.

		
	3.4
	Stock.      Company Stock issued pursuant to the Plan may be either original issue or stock purchased on the open market. The maximum number of shares that may be issued pursuant to the Plan is four hundred thousand (400,000) shares, subject to adjustment as provided in 

5

Section 3.6. In the event of a change in the capital structure of the Company (as provided in Section 3.6), the shares resulting from such change shall be deemed to be Company Stock within the meaning of the Plan. The aggregate number of shares of Company Stock reserved for issuance pursuant to the Plan shall be reduced by the issuance of shares under the Plan.

		
	3.5
	Issuance of Company Stock.   Notwithstanding anything in this Plan to the contrary:

(a)    The Company shall not be required to issue or deliver any certificate for shares of Company Stock to a Participant before (i) such shares have been admitted to listing on the New York Stock Exchange, (ii) the Company has received any required registration or other qualification of such shares under any state or federal law or regulation that the Company’s counsel shall determine is necessary or advisable and (iii) the Company is satisfied that all applicable legal requirements have been complied with. The Company may place on a certificate representing Company Stock any legend deemed necessary by the Company’s counsel to comply with federal or state securities laws. Until the Participant has been issued a certificate for the shares of Company Stock acquired, the Participant shall possess no shareholder rights with respect to the shares.

(b)    If at any time there may not be sufficient shares available under the Plan to permit the awards of Company Stock, the awards shall be reduced pro rata (to zero, if necessary) so as not to exceed the number of shares then available for issuance under the Plan.

		
	3.6
	Effect of Stock Dividends and Other Changes in Capital Structure.   Appropriate adjustments shall be made automatically to the number and kind of shares to be issued under the Plan, as well as to any deferred amounts credited to a Participant’s Company Stock Ledger and any other relevant provisions of the Plan, if there are any changes in the Company Stock by reason of a stock dividend, stock split, combination of shares, spin-off, reclassification, recapitalization, merger, consolidation or other change in the Company’s capital stock (including, but not limited to, the creation or issuance to shareholders generally of rights, options, or warrants for the purchase of common stock or preferred stock of the Company). If the adjustment would produce fractional shares, the fractional shares shall be eliminated by rounding to the nearest whole share. Any adjustments shall be made in a manner consistent with Rule 16b-3. Any such adjustments shall neither enhance nor diminish the rights of a Participant and the Company shall pay all costs of administering the Plan, including all commissions with respect to open market purchases.

6

SECTION 4. ELECTION TO DEFER

		
	4.1
	Deferral Election.   Subject to the conditions set forth in this Plan, and such procedures established by the Company, a Participant may elect to defer amounts of Compensation under this Plan, which amounts are not otherwise deferred by such Participant under the EDCP, as follows:

		
	 (a)
	At a time decided by the Company before the beginning of each Service Period, a Participant irrevocably may elect, by written notice to the Company’s Secretary (or his designee), to defer a portion of his Compensation earned for such Service Period. In the case of a Participant elected to the Board of Directors during the Service Period, the Participant may elect, within 30 days of his election to the Board of Directors, to defer a portion of his Compensation for services to be performed subsequent to his election. Such election shall specify whether:

		
	(i)
	the Participant elects to defer all or a portion of his Stock Retainer Fee and acknowledges that all such deferrals shall be credited to the Company Stock Ledger on his behalf; and

		
	(ii)
	the Participant elects to defer all or a portion of his Cash Retainer Fee and designates what portions of all such deferrals shall be credited on his behalf to either the Growth Increment Ledger or the Company Stock Ledger;

provided, however, that once any portion of a Participant’s Compensation is deferred and credited to the Company Stock Ledger as provided herein, that portion of Compensation may not subsequently be credited to the Growth Increment Ledger, and once any portion of a Participant’s Compensation is deferred and credited to the Growth Increment Ledger as provided herein, that portion of Compensation may not subsequently be credited to the Company Stock Ledger. 
		
	(b)
	The deferral election specified in Section 4.1(a) above shall be applied to the Participant’s Compensation for each Service Period (or the portion of the Service Period, as applicable) to which the deferral election applies. Any deferral election shall remain in effect for future Service Periods unless affirmatively changed in writing by the Participant and received by the Corporate Secretary by the time established for such purpose prior to the beginning of the Service Period for which the change is effective.

		
	(c)
	If a Participant makes a deferral election under Section 4.1(a) whereby amounts are credited to the Company Stock Ledger on his behalf, dividends attributable to shares of Company Stock credited to his Company Stock Ledger shall be automatically deferred and deemed reinvested pursuant to Section 5.3. 

		
	4.2
	Deferral Period.   With respect to deferrals under this Plan made in accordance with Section 4.1, each Participant must elect a deferral period for each annual deferral. Subject to the 

7

additional deferral provisions of Section 4.3 and the acceleration provisions of Section 6.4, any post-2004 deferral may be until the earlier of (i) the Participant’s separation from service from the Board of Directors for any reason or (ii) a date certain, subject to any limitations that the Company (or its delegate) in its discretion may choose to apply at the time of the deferral election. All post-2004 deferrals to a date certain must be to the same date certain. In the absence of an election to the contrary by the Participant for amounts deferred hereunder for any deferral period, such deferrals shall be paid in a lump sum payment as soon as practicable after the Participant’s separation from service from the Board of Directors for any reason. 
		
	4.3
	Election to Defer a Previously Deferred Amount or Change the Manner of Payment.

		
	(a)
	Subject to the acceleration provisions of Section 6.4 and the Board of Directors approval requirement of Section 4.3(b) with respect to pre-2005 deferrals, a Participant may elect an additional deferral period of at least sixty (60) months with respect to any previously deferred amount credited to the post-2004 DCD Ledger that is payable at a date certain, and an additional deferral period of at least twelve (12) months for each separate deferral credited to the pre-2005 DCD Ledger. With respect to amounts deferred until separation from service from the Board of Directors, Participants may also elect a new manner of payment permitted under Section 6.2 with respect to any previously deferred amounts, provided that in the case of amounts credited to post-2004 DCD Ledgers that are payable on separation from service from the Board of Directors, payments are delayed for sixty (60) months from the date payments would otherwise have commenced absent the election. Any such election must be made by written notice to the Company (or its delegate) at least twelve (12) months before the expiration of the deferral period for any previously deferred amount with respect to which an additional deferral election is made (the “Modification Period”).

		
	(b)
	A new deferral period election or a new form of payment election made pursuant to Subsection 4.3(a) above with respect to pre-2005 DCD Ledgers shall not be automatically binding upon the Company by the mere fact of the election request(s) having been made. The Board of Directors (or its delegate) shall review each such election submitted and determine whether or not it is in the best interest of the Company to accept the elections as submitted. Such Board of Directors (or delegate) review will be made on a case-by-case basis and all determinations shall be made by the Board of Directors (or its delegate) in its sole and complete discretion after consideration of such factors as it deems relevant, including broad economic and policy implications to the Company of approving any request. The Board of Directors, or its delegate, shall notify each Participant in writing within the first sixty (60) days of the Modification Period as to whether the deferral period election or manner of payment election with respect to pre-2005 DCD Ledgers are accepted by the Company as submitted, and if not, the terms upon which such election(s) would be accepted; in the latter instance, the Participant shall, no later than on the seventy-fifth (75th) day of the Modification Period, inform the Board of Directors (or its delegate) in writing of his acceptance or rejection of the terms proffered by the 

8

Company (or its delegate). All determinations made by the Board of Directors or its delegate shall be final and binding on all parties.

		
	4.4
	Election to Change the Deferral Period and/or Form of Payment for Post-2004 DCD Ledgers.

Notwithstanding Section 4.3(a), a Participant may elect at any time prior to January 1, 2009 to change the deferral period (accelerate or defer) and/or method of payment with respect to any post-2004 DCD Ledger that is not scheduled for payment in 2008 by making written notice to the Board of Directors (or its delegates), provided such change does not cause any amounts to be paid in 2008 or cause any amounts otherwise payable in 2008 to be deferred to a later year. Any new deferral period and/or method of payment shall be subject to the requirements of Section 6.

9

SECTION 5. CREDITING AND INVESTMENT OF DEFERRALS
		
	5.1
	DCD Ledger.   The Company shall establish for each Participant a DCD Ledger which shall reflect the amounts deferred on behalf of each Participant. In the sole discretion of the Company, one or more appropriate bookkeeping records shall be established in the DCD Ledger to reflect the deemed investments (and hypothetical earnings) made by each Participant in accordance with this Section 5 which shall include, but not be limited to, the Company Stock Ledger and the Growth Increment Ledger. Each DCD Ledger shall separately reflect the pre-2005 and post-2004 deferrals and hypothetical earnings thereon, and the portion of the post-2004 deferrals and hypothetical earnings thereon payable at a date certain and the portion payable when the Participant separates from service from the Board of Directors.

		
	5.2
	Adjustment of Amounts Credited to Growth Increment Ledger.   All deferrals credited to each Participant’s Growth Increment Ledger will be credited with Growth Increments based on the prime interest rate charged from time to time by the Wachovia Bank, N.A. The Company will have the authority to change the interest rate that may be applied to the Growth Increment Ledger. The Participant’s Growth Increment Ledger shall be credited on the first day of each calendar quarter, with a Growth Increment computed on the average balance in the Participant’s Growth Increment Ledger during the preceding calendar quarter. The Growth Increment shall be equal to the amount in said Growth Increment Ledger multiplied by the average interest rate selected by the Company during the preceding calendar quarter times a fraction the numerator of which is the number of days during such quarter and the denominator of which is three hundred sixty five (365). Growth Increments will continue to be credited until all of a Participant’s benefits have been paid out of the Plan.

		
	5.3
	Adjustment of Amounts Credited to Company Stock Ledger.   All deferrals credited to each Participant’s Company Stock Ledger will be converted into hypothetical credited shares of Company Stock based on the Fair Market Value of the Company Stock on the date the deferrals would otherwise have been paid to the Participant. The value of each Participant’s Company Stock Ledger shall be adjusted from time to time to reflect increases and decreases in shares of Company Stock as well as any stock or cash dividends, stock splits, or other changes in the capital structure of the Company (as provided in Section 3.6), that may from time to time be declared. All dividends attributable to hypothetical shares of Company Stock credited to each Participant’s Company Stock Ledger shall be converted to additional credited shares of Company Stock as though reinvested as of the next business day after the dividend is paid. 

		
	5.4
	Deemed Investments Not Actual Investments.   Nothing in this Plan shall be construed to require the investment of any deferrals in shares of Company Stock or any other investment or give a Participant any rights whatsoever with respect to any shares of Company Stock or with respect to any other investment.

		
	5.5
	Charges Against DCD Ledger.   There shall be charged against each Participant’s DCD Ledger any payments made to the Participant or to his Beneficiary in accordance with Section 6 hereof.

10

SECTION 6. PAYMENT OF DEFERRED AMOUNTS
		
	6.1
	Payment of Deferred Amounts.   The aggregate amounts payable under Section 6.2 as charges against the Participant’s amount credited in the DCD Ledger shall be paid commencing with the conclusion of the deferral period selected by the Participant pursuant to Section 4.2, Section 4.3, or Section 4.4 hereof. The payments shall be made in the manner selected by the Participant under Section 6.2 of this Plan. 

		
	6.2
	Manner of Payment.   Amounts credited to post-2004 DCD Ledgers that are scheduled to be paid at a “date certain” payment shall be made only in the form of a single sum payment as soon as practicable after the date certain. With respect to amounts credited to pre-2005 DCD Ledgers, and amounts credited to post-2004 DCD Ledgers that are scheduled to be paid on separation from service from the Board of Directors, Participants must irrevocably elect (subject to permitted changes under Section 4.3 and the acceleration provisions of Section 6.4) to have payment made in accordance with one of the following distribution forms:

		
	(i)
	a single sum payment; 

		
	(ii)
	a designated number of installments payable monthly, quarterly or annually, as elected (and in the absence of an election, annually), payable over a specified period not in excess of twenty (20) years; or

		
	(iii)
	in the case of a post-2004 DCD Ledger, payments in the form of annual installments with the first installment being a single sum payment of ten percent (10%) of the post-2004 DCD Ledger determined immediately prior to the date such payment is made with the balance of the post-2004 DCD Ledger paid in annual installments determined in accordance with Section 6.3 over a total specified period not in excess of twenty (20) years,

which shall be paid or commence to be paid as soon as practicable after the conclusion of the deferral period elected pursuant to Section 4.2 or Section 4.3. Any such election shall be made at the same time as the election made pursuant Section 4.1. Unless otherwise specifically elected, payments of all deferred amounts will be made in a single sum payment made as soon as practicable after the conclusion of the deferral period elected pursuant to Section 4.2 or Section 4.3. If a Participant elects an installment form of payment but fails to specify between the installment form under Section 6.2(ii) or the installment form under Section 6.2(iii), the Participant’s benefit will be paid in the installment form under Section 6.2(ii).
		
	6.3
	Form of Payment.   Amounts credited to a Participant’s Growth Increment Ledger and Company Stock Ledger shall be paid as follows:

		
	(a)
	Amounts credited to the Participant’s Growth Increment Ledger shall be paid in cash. If a Participant’s benefit hereunder is to be paid in installments, the amount of each payment shall be equal to the amount credited to the Participant’s Growth Increment 

11

Ledger at the time of payment multiplied by a fraction, the numerator of which is one and the denominator of which is the number of installment payments remaining.
		
	(b)
	Amounts credited to the Participant’s Company Stock Ledger shall be paid in shares of Company Stock with any amount representing a partial share of Company Stock deposited into an account in the Participant’s name in the Investor Plan. A payment of an amount credited to the Participant’s Company Stock Ledger shall be converted into actual shares of Company Stock as soon as practicable prior to each payment being made to the Participant. If a Participant’s benefit hereunder is to be paid in installments, the amount of each payment shall be equal to the number of shares of Company Stock then credited to the Participant’s Company Stock Ledger multiplied by a fraction, the numerator of which is one and the denominator of which is the number of installment payments remaining. Any amounts attributable to a partial share of Company Stock as of any installment payment date shall be deposited into an account in the Participant’s name in the Investor Plan with each installment. 

		
	6.4
	Acceleration of Payments.   Notwithstanding the election made pursuant to Section 4.2, Section 4.3, or Section 4.4,

		
	(a)
	payments shall be paid, or begin to be paid, as soon as practicable following the Participant’s separation from service from the Board of Directors for any reason except as otherwise provided herein;

		
	(b)
	if a Participant dies prior to the payment of all or a portion of the amounts credited to his DCD Ledger, the balance of any amount payable shall be paid in a cash lump sum to the Beneficiaries designated under Section 7 hereof;

		
	(c)
	if a Participant ceases to be a Nonemployee Director but thereafter becomes an employee of the Company (or any of its subsidiaries or affiliates), all pre-2005 DCD Ledgers shall be paid as soon as practicable after such individual becomes an employee of the Company (or any of its subsidiaries or affiliates) in a single sum payment and all post-2004 DCD Ledgers shall be paid as soon as practicable after such individual has incurred a separation from service as a Nonemployee Director (as determined in accordance with Code Section 409A); 

		
	(d)
	if a Participant’s post-2004 DCD Ledger balance is less than one hundred thousand dollars ($100,000) (five thousand dollars ($5,000) for pre-2005 DCD Ledgers) at the time for payment specified, such amount shall be paid in a single sum payment; and 

		
	(e)
	if applicable, the provisions of Section 8 shall apply.

Notwithstanding Section 6.4(a), in the case of any post-2004 DCD Ledgers that are payable on separation from service from the Board of Directors and that are subject to an additional deferral period of sixty (60) months under Section 4.3(a) as a result of the modification of the manner of payment, no payment attributable to any post-2004 DCD Ledgers shall be 

12

accelerated under Section 6.4(a) to a date earlier than the expiration of the sixty (60) month period.
		
	6.5
	Financial Emergency.   The Company (or its delegate), at its sole discretion, may alter the timing or manner of payment of deferred amounts if the Participant establishes, to the satisfaction of the Company (or its delegate), an unanticipated and severe financial hardship that is caused by an event beyond the Participant’s control. In such event, the Company (or its delegate) may:

		
	(a)
	provide that all, or a portion of, the amount previously deferred by the Participant immediately shall be paid in a lump sum cash payment,

		
	(b)
	provide that all, or a portion of, the installments payable over a period of time immediately shall be paid in a lump sum cash payment, or

		
	(c)
	provide for such other installment payment schedules as it deems appropriate under the circumstances,

as long as the amount distributed shall not be in excess of that amount which is necessary for the Participant to satisfy the financial emergency. For pre-2005 DCD Ledgers, severe financial hardship will be deemed to have occurred in the event of the Participant’s or a dependent’s sudden, lengthy and serious illness as to which considerable medical expenses are not covered by insurance or relative to which there results a significant loss of family income, or other unanticipated events of similar magnitude. For post-2004 DCD Ledgers, severe financial hardship will be deemed to have occurred from a sudden or unexpected illness or accident of the Participant or the Participant’s spouse, Beneficiary or dependent (as defined in Code Section 152, without regard to Code Sections 152(b)(1), (b)(2), and (d)(1)(B)), loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the Participant’s control. Examples of events that may constitute an unforeseeable emergency for post-2004 DCD Ledgers include the imminent foreclosure of or eviction from the Participant’s primary residence; the need to pay for medical expenses, including non-refundable deductibles, as well as for the costs of prescription drug medication; and the need to pay for the funeral expenses of the Participant’s spouse, Beneficiary or dependent (as defined in Code Section 152, without regard to Code Sections 152(b)(1), (b)(2), and (d)(1)(B)). The circumstances that will constitute an unforeseeable emergency will depend upon the facts of each case, but, in any case, payment may not be made to the extent that such hardship is or may be relieved through reimbursement or compensation by insurance or otherwise, by liquidation of the Participant’s assets, to the extent the liquidation of such assets would not itself cause severe financial hardship, or by cessation of deferrals under the Plan. Examples of circumstances that are not considered to be unforeseeable emergencies include the need to send a Participant’s child to college or the desire to purchase a home. The Company’s decision (or that of its delegate) in passing on the severe financial hardship of the Participant and the manner in which, if at all, the payment of deferred amounts shall be altered or modified shall be final, conclusive, and not subject to appeal. The Company shall consider any requests for payment under this Section 6.5 in accordance with the standards of interpretation described in Code Section 409A and the regulations and other guidance thereunder.

13

		
	6.6
	Compliance with Domestic Relations Order.   Notwithstanding anything to the contrary in this Plan, a distribution shall be made from the Participant’s DCD Ledgers to an individual other than the Participant to the extent necessary to comply with a domestic relations order (as defined in Code Section 414(p)(1)(B)).

14

SECTION 7. BENEFICIARY DESIGNATION
7.1    Designation of Beneficiary.   A Participant shall designate a Beneficiary or Beneficiaries who, upon the Participant’s death, are to receive the amounts that otherwise would have been paid to the Participant. All designations shall be in writing and signed by the Participant. The designation shall be effective only if and when delivered to the Company during the lifetime of the Participant. The Participant also may change his Beneficiary or Beneficiaries by a signed, written instrument delivered to the Company. The payment of amounts shall be in accordance with the last unrevoked written designation of Beneficiary that has been signed and delivered to the Company. All Beneficiary designations shall be addressed to the Company’s Secretary and delivered to his office.
7.2    Death of Beneficiary.
		
	(a)
	In the event that all of the Beneficiaries named pursuant to Section 7.1 predecease the Participant, the amounts that otherwise would have been paid to said Beneficiaries shall, where the designation fails to redirect to alternate Beneficiaries in such circumstance, be paid to the Participant’s estate as the alternate Beneficiary.

		
	(b)
	In the event that two or more Beneficiaries are named, and one or more but less than all of such Beneficiaries predecease the Participant, each surviving Beneficiary shall receive any proportion or amount of funds designated or indicated for him per the designation under Section 7.1, and the indicated share of each predeceased Beneficiary which the designation fails to redirect to an alternate Beneficiary in such circumstance shall be paid to the Participant’s estate as an alternate Beneficiary.

7.3    Ineffective Designation.
		
	(a)
	In the event the Participant does not designate a Beneficiary, or if for any reason such designation is entirely ineffective, the amounts that otherwise would have been paid to the Beneficiary shall be paid to the Participant’s estate as the alternate Beneficiary.

		
	(b)
	In the circumstance that designations are effective in part and ineffective in part, to the extent that a designation is effective, distribution shall be made so as to carry out as closely as discernable the intent of the Participant, with the result that only to the extent that a designation is ineffective shall distribution instead be made to the Participant’s estate as an alternate Beneficiary.

15

SECTION 8. CHANGE IN CONTROL PROVISIONS
		
	8.1
	Successors.   Notwithstanding anything in this Plan to the contrary, upon the occurrence of a Change in Control, the Company will require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) of all or substantially all of the business and/or assets of the Company or of any division or subsidiary thereof to expressly assume and agree to perform this Plan in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place, subject to the remaining provisions of this Section 8.1. Participants shall become entitled to benefits hereunder in accordance with the terms of this Plan, based on amounts credited to each Participant’s DCD Ledger as of the date of such Change in Control plus accumulated Growth Increments attributable thereto (adjusted to reflect any change from the most recent Growth Increment calculation to the end of the month prior to the month such amounts are distributed to each Participant). In such case, any successor to the Company shall not be required to provide for additional deferral of benefits beyond the date of such Change in Control except as required under Code Section 409A. 

		
	8.2
	Amendment and Termination After Change in Control.   Notwithstanding the foregoing, and subject to this Section 8, no amendment, modification or termination of the Plan may be made, and no Participants may be added to the Plan, upon or following a Change in Control if it would have the effect of reducing any benefits earned (including optional forms of distribution) prior to such Change in Control without the written consent of all of the Plan’s Participants covered by the Plan at such time. In all events, however, the Company reserves the right to amend, modify or delete the provisions of Section 8 at any time prior to a Change in Control, pursuant to a Board of Directors resolution adopted by a vote of two-thirds (2/3) of the Board of Directors members then serving on the Board of Directors.

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SECTION 9. GENERAL PROVISIONS
		
	9.1
	Contractual Obligation.   It is intended that the Company is under a contractual obligation to make payments from a Participant’s DCD Ledger when due. Payment of amounts credited to a Participant’s DCD Ledger shall be made out of the general funds of the Company as determined by the Board of Directors without any restriction of the assets of the Company relative to the payment of such contractual obligations; the Plan is, and shall operate as, an unfunded plan.

		
	9.2
	Unsecured Interest.   No Participant or Beneficiary shall have any interest whatsoever in any specific asset of the Company. To the extent that any person acquires a right to receive payment under this Plan, such right shall be no greater than the right of any unsecured general creditor of the Company.

		
	9.3
	“Rabbi” Trust.   In connection with this Plan, the Company shall establish a grantor trust (known as the “SCANA Corporation Director Compensation Trust” and referred to herein as the “Trust”) for the purpose of accumulating funds to satisfy the obligations incurred by the Company under this Plan (and such other plans and arrangements as determined from time to time by the Company). At any time prior to a Change in Control, as that term is defined in such Trust, the Company may transfer assets to the Trust to satisfy all or part of the obligations incurred by the Company under this Plan, as determined in the sole discretion of the Board of Directors, subject to the return of such assets to the Company at such time as determined in accordance with the terms of such Trust. Any assets of such Trust shall remain at all times subject to the claims of creditors of the Company in the event of the Company’s insolvency; and no asset or other funding medium used to pay benefits accrued under the Plan shall result in the Plan being considered as other than “unfunded” under ERISA. Notwithstanding the establishment of the Trust, the right of any Participant to receive future payments under the Plan shall remain an unsecured claim against the general assets of the Company.

9.4    Nonalienation of Benefits.  
		
	(a)
	Subject to Section 6.6, no right or benefit under this Plan shall be subject to anticipation, alienation, sale, assignment, pledge, encumbrance, or charge, and any attempt to anticipate, alienate, sell, assign, pledge, encumber or charge the same shall be void; nor shall any such disposition be compelled by operation of law.

		
	(b)
	No right or benefit hereunder shall in any manner be liable for or subject to the debts, contracts, liabilities, or torts of the person entitled to benefits under the Plan.

		
	(c)
	If any Participant or Beneficiary hereunder should become bankrupt or attempt to anticipate, alienate, sell, assign, pledge, encumber, or charge any right or benefit hereunder (other than as permitted in Section 6.6), then such right or benefit shall, in the discretion of the Board of Directors, cease, and the Board of Directors shall direct in such event that the Company hold or apply the same or any part thereof for the benefit of the Participant or Beneficiary in such manner and in such proportion as the Board of Directors may deem proper.

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	9.5
	Severability.   If any particular provision of the Plan shall be found to be illegal or unenforceable for any reason, the illegality or lack of enforceability of such provision shall not affect the remaining provisions of the Plan, and the Plan shall be construed and enforced as if the illegal or unenforceable provision had not been included.

		
	9.6
	No Individual Liability.   It is declared to be the express purpose and intention of the Plan that no liability whatsoever shall attach to or be incurred by the shareholders, officers, or directors of the Company or any representative appointed hereunder by the Company, under or by reason of any of the terms or conditions of the Plan.

		
	9.7
	Applicable Law.   This Plan shall be governed and construed in accordance with the laws of the State of South Carolina except to the extent governed by applicable Federal law (including the requirements of Code Section 409A). The terms of this Plan are also subject to all present and future rulings of the Securities and Exchange Commission with respect to Rule 16b-3. If any provision of the Plan would cause the Plan to fail to meet the requirements of Rule 16b-3, then that provision of the Plan shall be void and of no effect.

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SECTION 10. PLAN ADMINISTRATION, AMENDMENT AND TERMINATION
		
	10.1
	In General.  This Plan shall be administered by the Company, which shall have the sole authority to construe and interpret the terms and provisions of the Plan and determine the amount, manner and time of payment of any benefits hereunder. The Company shall not exercise any discretion with respect to the administration of this Plan, except as may be permitted by Rule 16b-3. The Company shall maintain records, make the requisite calculations and disburse payments hereunder, and its interpretations, determinations, regulations and calculations shall be final and binding on all persons and parties concerned. The Company may adopt such rules as it deems necessary, desirable or appropriate in administering this Plan.

		
	10.2
	Claims Procedure.   Any person dissatisfied with the Company’s determination of a claim for benefits hereunder must file a written request for reconsideration with the Company (or its delegate). This request must include a written explanation setting forth the specific reasons for such reconsideration. The Company shall review its determination promptly and render a written decision with respect to the claim, setting forth the specific reasons for such denial written in a manner calculated to be understood by the claimant. Such claimant shall be given a reasonable time within which to comment, in writing, to the Company with respect to such explanation. The Company shall review its determination promptly and render a written decision with respect to the claim. Such decision upon matters within the scope of the authority of the Company shall be conclusive, binding, and final upon all claimants under this Plan.

		
	10.3
	Finality of Determination.    The determination of the Company as to any disputed questions arising under this Plan, including questions of construction and interpretation, shall be final, binding, and conclusive upon all persons.

		
	10.4
	Delegation of Authority.   The Company may, in its discretion, delegate its duties to a committee of the Board of Directors or an officer or other employee of the Company, or to a committee composed of officers or employees of the Company.

		
	10.5
	Expenses.   The cost of payment from this Plan and the expenses of administering the Plan shall be borne by the Company.     

		
	10.6
	Tax Withholding.   The Company shall have the right to deduct from all payments made from the Plan any federal, state, or local taxes required by law to be withheld with respect to such payments.

		
	10.7
	Incompetency.   Any person receiving or claiming benefits under the Plan shall be conclusively presumed to be mentally competent and of age until the Company receives written notice, in a form and manner acceptable to it, that such person is incompetent or a minor, and that a guardian, conservator, statutory committee under the South Carolina Code of Laws, or other person legally vested with the care of his estate has been appointed. In the event that the Company finds that any person to whom a benefit is payable under the Plan is unable to properly care for his affairs, or is a minor, then any payment due (unless a prior claim therefor shall have been made by a duly appointed legal representative) may be paid 

19

to the spouse, a child, a parent, or a brother or sister, or to any person deemed by the Company to have incurred expense for the care of such person otherwise entitled to payment.
In the event a guardian or conservator or statutory committee of the estate of any person receiving or claiming benefits under the Plan shall be appointed by a court of competent jurisdiction, payments shall be made to such guardian or conservator or statutory committee provided that proper proof of appointment is furnished in a form and manner suitable to the Company. Any payment made under the provisions of this Section 10.7 shall be a complete discharge of liability therefor under the Plan.
		
	10.8
	Action by Company.   Any action required or permitted to be taken hereunder by the Company or its Board of Directors shall be taken by the Board of Directors, or by any person or persons authorized by the Board of Directors.

		
	10.9
	Notice of Address.   Any payment made to a Participant or to his Beneficiary at the last known post office address of the distributee on file with the Company, shall constitute a complete acquittance and discharge to the Company and any director or officer with respect thereto, unless the Company shall have received prior written notice of any change in the condition or status of the distributee. Neither the Company nor any director or officer shall have any duty or obligation to search for or ascertain the whereabouts of the Participant or his Beneficiary.

		
	10.10
	Amendment and Termination.   The Company expects the Plan to be permanent but, since future conditions affecting the Company cannot be anticipated or foreseen, the Company reserves the right to amend, modify, or terminate the Plan at any time by action of its Board of Directors, subject to Section 8.2 and the requirements of Code Section 409A with respect to post-DCD Ledgers, (including, but not limited to, as may be necessary to ensure compliance with Rule 16b-3); provided, however, that any such action shall not diminish retroactively any amounts which have been credited to any Participant’s DCD Ledger. If the Board of Directors amends the Plan to cease future deferrals hereunder or terminates the Plan, the Board of Directors may, in its sole discretion, direct that the value of each Participant’s DCD Ledger be paid to each Participant (or Beneficiary, if applicable) in an immediate lump sum payment. In the absence of any such direction from the Board of Directors, the Plan shall continue as a “frozen” plan under which no future deferrals will be recognized (however, Growth Increments and dividends attributable to hypothetical shares of Company Stock credited to each Participant’s Company Stock Ledger shall continue to be recognized) and each Participant’s benefits shall be paid in accordance with the otherwise applicable terms of the Plan.

		
	10.11
	Plan to Comply with Code Section 409A.   Notwithstanding any provision to the contrary in this Plan, each provision of this Plan shall be interpreted to permit Director deferrals and the payment of deferred amounts in accordance with Code Section 409A and any provision that would conflict with such requirements shall not be valid or enforceable.

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SECTION 11. EXECUTION
IN WITNESS WHEREOF, the Company has caused this SCANA Corporation Director Compensation and Deferral Plan to be executed by its duly authorized officer to be effective on the 30th day of November, 2014.
SCANA Corporation
By:  /s/Marty K. Phalen        
 Title:  Senior Vice President - SCANA Admin.
ATTEST:
/s/Gina Champion        
Secretary

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