Document:

PNM 12.31.2011 EX 10.3

Exhibit 10.3
AMENDMENT 
TO THE
PNM RESOURCES, INC.
LONG TERM CARE INSURANCE PLAN
PNM Resources, Inc. (the “Company”) previously adopted the PNM Resources, Inc. Long Term Care Insurance Plan (the “Plan”), which is a plan to assist employees in paying for assisted living or professional health care expenses in conjunction with advancing age or disability.  By this instrument, the Company intends to terminate the Plan effective December 31, 2011.
1.    This Amendment shall be effective December 31, 2011, unless otherwise noted below.
2.    The Plan is hereby terminated.  Pursuant to the “When Coverage Will End” Section of the Plan, all coverage under the Plan ends on December 31, 2011.  The termination of the Plan will not affect any benefit to which a Participant became entitled before the termination.  
IN WITNESS WHEREOF, the Company has hereby caused this Amendment to be executed by its duly authorized representative on this _16__ day of _December_, 2011.
PNM RESOURCES, INC.
By:    /s/ Alice A. Cobb                                
Its:   SVP/CAOPNM 12.31.2011 EX 10.4

Exhibit 10.4
SECOND AMENDMENT
TO THE
PNM RESOURCES, INC.
OFFICER RETENTION PLAN
Effective December 7, 1998, Public Service Company of New Mexico adopted the Public Service Company of New Mexico First Restated and Amended Executive Retention Plan (the “Plan”).  By an amendment dated November 27, 2002, sponsorship of the Plan was transferred to PNM Resources, Inc. (the “PNM Resources”) and the Plan was renamed the “PNM Resources, Inc. First Restated and Amended Executive Retention Plan.”  Effective as of July 13, 2003, PNM Resources amended and restated the Plan in its entirety and changed the name of the Plan to the “PNM Resources, Inc. Officer Retention Plan.”  The Plan was most recently amended and restated effective January 1, 2009.  The Plan was subsequently amended on one occasion.  By execution of this instrument, PNM Resources now desires to amend the Plan to close the Plan to Officers who are hired on or after December 31, 2011.
1.Except as otherwise set forth below, this Second Amendment shall be effective as of the date on which it is executed.
2.Section 2.1(t) (Definitions - Participant) of the Plan is hereby amended and restated to read as follows: 
(t)    “Participant” means any Officer of the Company who was hired before December 31, 2011 and who has satisfied the eligibility requirements of this Plan.
3.Section 4.1 (Eligibility to Participate) of the Plan is hereby amended by adding the following new sentence to the end thereof: 
Any Officer who is hired on or after December 31, 2011 shall be ineligible to participate in the Plan.

4.This Second Amendment amends only the provisions of the Plan as noted above, and those provisions not expressly amended shall be considered in full force and effect.  Notwithstanding the foregoing, this Second Amendment shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the provisions and intent of this Second Amendment.
IN WITNESS WHEREOF, PNM Resources has caused this Second Amendment to be executed as of this _16__ day of _December_, 2011.
PNM RESOURCES, INC.

By:      /s/ Alice A. Cobb                                          
      Its:         SVP/CAOPNM 12.31.2011 EX 10.5

Exhibit 10.5
FIFTH AMENDMENT
TO THE
PNM RESOURCES, INC.
OFFICER LIFE INSURANCE PLAN

Effective January 1, 2004, PNM Resources, Inc. established the PNM Resources, Inc. Officer Life Insurance Plan (the “Plan”).  The Plan was subsequently amended on four previous occasions.  By execution of this instrument, PNM Resources now desires to amend the Plan to close the Plan to officers hired on or after September 25, 2011.
1.Except as otherwise set forth below, this Fifth Amendment shall be effective as of the date on which it is executed.
2.Section 2.1(h) (General - Participant) is hereby amended and restated in its entirety to read as follows:
(h)    “Participant” means an employee of the Company or any affiliate who has been designated or selected for participation in the Plan pursuant to Section 3.2 (Selection of Participants).  No employee hired on or after September 25, 2011 shall become a Participant in the Plan.  
3.Section 3.2 (Eligibility - Selection of Participants) of the Plan is hereby amended and restated to read as follows: 
3.2    Selection of Participants.  The employees who are eligible to participate in the Plan are the “Officers” of the Company.  For this purpose, an “Officer” is an individual who occupies the position of Vice President or higher.  No Officer who is hired on or after September 25, 2011shall be eligible to participate in the Plan.
4.This Fifth Amendment amends only the provisions of the Plan as noted above, and those provisions not expressly amended shall be considered in full force and effect.  Notwithstanding the foregoing, this Fifth Amendment shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the provisions and intent of this Fifth Amendment.

IN WITNESS WHEREOF, PNM Resources has caused this Fifth Amendment to be executed as of this _16__ day of _December_, 2011.
PNM RESOURCES, INC.

By:     /s/ Alice A. Cobb                           
      Its:         SVP/CAOPNM 12.31.2011 EX 10.6

Exhibit 10.6
AMENDMENT 
TO 
CORPORATE POLICY
ABSENCE FROM WORK
POLICY 125

Absence from work is governed by Corporate Policy, Absence from Work, Policy 125 (the “Absence from Work Policy”).  By this instrument, PNM Resources (the “Company”) intends to amend the Absence from Work Policy to discontinue the sale of paid time off by officers.  
1.    This Amendment shall be effective September 25, 2011.
2.    The Sale of PTO Hours Section of the Policy is hereby amended and restated in its entirety to read as follows:

Sale of PTO Hours
Although the Company strongly encourages employees to take vacation, the sale of PTO hours is permitted under certain conditions.  Under no circumstances may donated PTO hours be sold.  Effective as of September 25, 2011, Officers of the Company may no longer sell PTO hours.  Please refer to the Operating Procedures for guidance on requesting or donating PTO/Vacation.
IN WITNESS WHEREOF, the Company has hereby caused this Amendment to be executed by its duly authorized representative on this _16__ day of _December_, 2011.
PNM RESOURCES, INC.
By:    /s/ Alice A. Cobb                              
      Its:         SVP/CAOPNM 12.31.2011 EX 10.7

 
Exhibit 10.7
2012 Director Compensation Summary

Non-employee directors of PNM Resources, Inc. (the “Company”) receive their annual retainer in the form of cash and stock-based compensation as determined by the Company's Board of Directors. At the December 2011 Board meeting, the Board approved maintaining the 2012 annual retainer for non-employee directors at the same level previously reported for the 2011 annual retainer.   Thus, the 2012 annual retainer for non-employee directors is as follows:
	
			
	Annual Retainer:
	 
	Restricted stock rights* with a grant date market value of $55,000; and an annual cash retainer of $52,500 paid in quarterly installments

	Annual Presiding Lead Director Fee:
	 
	$15,000 paid in quarterly installments

	Annual Committee Chair Fee:
	 
	$ 5,000 paid in quarterly installments (in addition to meeting attendance fees), except that the Annual Audit and Ethics Committee Chair Fee is $10,000

	Committee Meeting Attendance Fees:
	 
	$ 1,500 per Board Committee meeting

Directors are also reimbursed for any Board-related expenses, such as travel expenses incurred to attend Board and Board committee meetings and director educational programs.  Further, directors are indemnified by the Company to the fullest extent permitted by law pursuant to the Company's bylaws and indemnification agreements between the Company and each director.

* The amount of annual restricted stock rights is determined by dividing $55,000 by the closing price of the Company's stock on the New York Stock Exchange  on the day of the grant.  Restricted stock rights granted under the Company's Omnibus Performance Equity Plan (“PEP”) each vest in three equal annual installments beginning on the first anniversary of the grant date, subject to vesting acceleration upon retirement from the board.  These awards are typically made at the annual meeting of directors, unless the meeting occurs during a black-out period for trading in the Company's securities as specified in the Company's Insider Trading Policy. As set forth under the Company's Equity Compensation Awards Policy, under those circumstances, the Board will either (a) schedule a special meeting after the expiration of the black-out period, (b) make awards pursuant to a unanimous written consent executed after the expiration of the black-out period, or (c) pre-approve the equity awards with an effective date after the expiration of the black-out period. The date of the awards is the date on which the Board approves the awards, unless (i) the approval date is a non-trading day, in which case the date is the immediately preceding trading date or (ii) in the case of pre-approval during a black-out period, in which case the grant date is the first trading date after the expiration of the black-out period.CNP_Exhibit 10(s)_12.31.2011

Exhibit 10(s) 

CenterPoint Energy, Inc.
Summary of Certain Compensation Arrangements
of the Non-Executive Chairman of the Board

The following is a summary of certain compensation arrangements of Milton Carroll, the non-executive chairman of the board of directors of CenterPoint Energy, Inc. (the “Company”), effective April 22, 2010. Such compensation arrangements are in addition to the normal retainers paid to directors and committee chairmen of the Company's board of directors (which Milton Carroll shall continue to receive while a non-employee director). For additional information regarding the compensation of the non-employee directors, please read the definitive proxy statement relating to the Company's 2012 annual meeting of shareholders filed pursuant to Regulation 14A. 
		
	•
	Supplemental retainer of $30,000 per month, payable on the last day of each month, commencing on June 30, 2010 and continuing each month thereafter until the earlier of May 31, 2013 or the termination of Milton Carroll's service as non-executive Chairman of the Board (the “Payment Period”);

		
	•
	Additional cash awards on June 1, 2010, June 1, 2011 and June 1, 2012 (each such award, a “Cash Award”) in an amount equal to the product of (i) 25,000 and (ii) the closing sales price per share of the Company's common stock, par value $0.01 per share (the “Common Stock”), on the consolidated transaction reporting system for the New York Stock Exchange on the respective award date or, if there have been no such sales so reported on that date, on the date immediately preceding the respective award date on which such a sale was so reported;

		
	•
	An option, on or prior to the award date of a Cash Award, to elect to receive 25,000 fully vested shares of Common Stock in lieu of any Cash Award (subject to the holding period and resale restrictions contained in Rule 144 under the Securities Act of 1933, as amended); and

		
	•
	Certain administrative support during the Payment Period including (a) an office at the Company's Houston headquarters and (b) a full-time executive assistant.

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