Document:

Schedule of 2006 Base Salary and Short-Term Incentive Plan Target Participation
      Rates for certain officers of PG&E Corporation and its subsidiaries

    Exhibit
      10.24

     

     

    Schedule
      of 2006 Officer Base Salary and Short-Term Incentive Plan Target Participation
      Rates

     

                                The
      2006 base salaries and the 2006 STIP award targets (based on a percentage of
      base salary) for certain executive officers of PG&E Corporation and the
      Utility are as follows: 

    

    
      	
              Name
                and Title

            	
              2006
                Base Salary

            	
              2006
                STIP % Target

            
	
              Peter
                A. Darbee, Chairman of the Boards, Chief Executive Officer and President,
                PG&E Corporation

            	
              $975,000

            	
              100%

            
	
              Thomas
                B. King, President and Chief Executive Officer, Utility

            	
              $615,000

            	
              75%

            
	
              Christopher
                P. Johns, Senior Vice President, Chief Financial Officer and Treasurer,
                PG&E Corporation and Utility 

            	
              $494,000

            	
              55%

            
	
              Bruce
                R. Worthington, Senior Vice President and General Counsel, PG&E
                Corporation 

            	
              $489,250

            	
              55%

            
	
              Rand
                L. Rosenberg, Senior Vice President, Corporate Strategy and Development,
                PG&E Corporation

            	
              $475,000

            	
              55%

            

    

    

    The
      2006
      perquisite amount for each officer ranges from $20,000 to $35,000.Schedule of 2006 award values under the PG&E Corporation 2006 Long-Term Incentive Plan for certain officers of PG&E Corporation and its subsidiaries

    

 

     

    Exhibit
      10.25

    Schedule
      of 2006 Officer Award Values under the PG&E Corporation 2006 Long-Term
      Incentive Plan

    

    The
      total
      values of equity awards made under the 2006 Long-Term Incentive Plan (LTIP)
      on
      January 3, 2006 to certain executive officers of PG&E Corporation and the
      Utility are as follows: 

    

    
      	
              Name
                and Title

            	
              2006
                LTIP Award Value

            
	
              Peter
                A. Darbee, Chairman of the Boards, Chief Executive Officer and President,
                PG&E Corporation

            	
              $3,500,000

            
	
              Thomas
                B. King, President and Chief Executive Officer, Utility

            	
              $1,450,000

            
	
              Christopher
                P. Johns, Senior Vice President, Chief Financial Officer and Treasurer,
                PG&E Corporation and Utility 

            	
              $900,000

            
	
              Bruce
                R. Worthington, Senior Vice President and General Counsel, PG&E
                Corporation 

            	
              $800,000

            
	
              Rand
                L. Rosenberg, Senior Vice President, Corporate Strategy and
                Development

            	
              $800,000

            

    

    

    The
      equity awards were divided equally between restricted stock and performance
      shares based on a per share price of PG&E Corporation common stock of
      $35.929, the average closing price of PG&E Corporation common stock on the
      New York Stock Exchange for the month of November 2005.Supplemental Executive Retirement Plan of PG&E Corporation as amended effective January 1, 2006

    

      
        
           

          
          

        

        
          
          

          
            

          

        

        
          
          

          Exhibit.10.27

        

      

      SUPPLEMENTAL
        EXECUTIVE RETIREMENT PLAN

      OF

      PG&E
        CORPORATION

      (As
        Amended Effective as of January 1, 2006)

      ______________________________________________

      

      

      This
        is
        the controlling and definitive statement of the Supplemental Executive
        Retirement Plan ("PLAN")1 /
        for
        ELIGIBLE EMPLOYEES of PG&E Corporation (“CORPORATION”), Pacific Gas and
        Electric Company ("COMPANY") and such other companies, affiliates, subsidiaries,
        or associations as the BOARD OF DIRECTORS may designate from time to time.
        The
        PLAN is the successor plan to the Supplemental Executive Retirement Plan
        of the
        COMPANY. The PLAN as contained herein was first adopted effective January
        1,
        2005.

       

      

      

      ARTICLE
        I

      

      DEFINITIONS

      

      1.01
        Basic
        SERP Benefit
        shall
        mean the benefit described in Section 2.01.

       

      1.02
        Board
        or
Board
        of Directors
        shall
        mean the BOARD OF DIRECTORS of the CORPORATION or, when appropriate, any
        committee of the BOARD which has been delegated the authority to take action
        with respect to the PLAN.

       

      1.03
        Company
        shall
        mean the Pacific Gas and Electric Company, a California
        corporation.

       

      1.04
        Corporation
        shall
        mean PG&E Corporation, a California corporation.

       

      1.05
        Eligible
        Employee
        shall
        mean (1) employees of the COMPANY (or, with respect to the CORPORATION and
        PG&E Corporation Support Services, Inc., employees who were transferred to
        the CORPORATION or PG&E Corporation Support Services, Inc., from the
        COMPANY), (2) who are officers in Officer Bands I-V, and (3) such other
        employees of the COMPANY, the CORPORATION, PG&E Corporation Support
        Services, Inc. or such other companies, affiliates, subsidiaries, or
        associations, as may be designated by the Chief Executive Officer of the
        CORPORATION. ELIGIBLE EMPLOYEES shall not include employees who retired prior
        to
        January 1, 2005, or whose employment relationship with any of the PARTICIPATING
        EMPLOYERS was otherwise terminated prior to January 1, 2005.

       

      1.06
        STIP
        Payment
        shall
        mean amounts received by an ELIGIBLE EMPLOYEE under the Short-Term Incentive
        Plan maintained by the CORPORATION.

      
         

        1/
          Words in
          all capitals are defined in Article I.

      

       

      
        
           

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      1.07
        Participating
        Employer
        shall
        mean the COMPANY, the CORPORATION, PG&E Corporation Support Services, Inc.,
        and any other companies, affiliates, subsidiaries or associations designated
        by
        the Chief Executive Officer of the CORPORATION.

       

      1.08
        Plan
        shall
        mean the Supplemental Executive Retirement Plan ("SERP") as set forth herein
        and
        as may be amended from time to time.

       

      1.09
        Plan
        Administrator
        shall
        mean the Employee Benefit Committee or such individual or individuals as
        that
        Committee may appoint to handle the day-to-day affairs of the PLAN.

       

      1.10
        Retirement
        Plan
        shall
        mean the Pacific Gas and Electric Company Retirement Plan for Management
        Employees.

       

      1.11
        Salary
        shall
        mean the base salary received by an ELIGIBLE EMPLOYEE. SALARY shall not include
        amounts received by an employee after such employee ceases to be an ELIGIBLE
        EMPLOYEE. For purposes of calculating benefits under the PLAN, SALARY shall
        not
        be reduced to reflect amounts that have been deferred under the PG&E
        Corporation Supplemental Retirement Savings Plan.

       

      1.12
        Service
        shall
        mean "credited service" as that term is defined in the RETIREMENT PLAN or,
        if
        the Nominating and Compensation Committee of the BOARD OF DIRECTORS has granted
        an adjusted service date for an ELIGIBLE EMPLOYEE, "credited service" as
        calculated from such adjusted service date. In no event, however, shall SERVICE
        include periods of time after which an officer has ceased to be an ELIGIBLE
        EMPLOYEE.

       

      

       

      ARTICLE
        II

       

      SERP
        BENEFITS

       

      2.01
        The
        BASIC SERP BENEFIT payable from the PLAN shall be a monthly annuity with
        an
        annuity start date of the later of the first of the month following the month
        in
        which the ELIGIBLE EMPLOYEE ceases to be an employee of the PARTICIPATING
        EMPLOYER of the first of the month following the ELIGIBLE EMPLOYEE’s
        55th
        birthday; provided, however, that no payments under the PLAN shall be made
        until
        the seventh month following the annuity start date. The first payment shall
        consist of the monthly annuity payment for the seventh month, plus the first
        six
        monthly annuity payments, including interest calculated at a rate to reflect
        the
        CORPORATION’s marginal cost of funds. The monthly amount of the BASIC SERP
        BENEFIT shall be equal to the product of:

      

      1.7%
        x
        the average of three highest calendar years' combination of SALARY and STIP
        PAYMENT for the last ten years of SERVICE x SERVICE x 1/12.

       

      In
        computing a year's combination of SALARY and STIP PAYMENT, the year's amount
        shall be the sum of the SALARY and STIP PAYMENT, if any, paid or payable
        in the
        same calendar year. If an ELIGIBLE EMPLOYEE has fewer than three years' SALARY,
        the average

       

      
        
           

          
          

        

        
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      shall
        be
        the combination of SALARY and STIP PAYMENT for such shorter time, divided
        by the
        number of years and partial years during which such employee was an ELIGIBLE
        EMPLOYEE.

       

      The
        BASIC
        SERP BENEFIT is further reduced by any amounts paid or payable from the
        RETIREMENT PLAN, calculated before adjustments for marital or joint pension
        option elections. 

       

      2.02
        For
        ELIGIBLE EMPLOYEES of the PARTICIPATING EMPLOYERS, who transfer from any
        of said
        companies to another subsidiary or affiliate, the principles of Section 10
        of
        the RETIREMENT PLAN shall govern the calculation of benefits under this PLAN.
        An
        ELIGIBLE EMPLOYEE who ceases to be an employee of a PARTICIPATING EMPLOYER
        and
        who is also not employed by any of the CORPORATION’s subsidiaries, affiliates,
        or related associations shall be entitled to receive a benefit payable from
        the
        PLAN at any time after his 55th birthday. The amount of the benefit payable
        shall be reduced by the appropriate age and service factors contained in
        the
        RETIREMENT PLAN applicable to such employee. For such calculations, the service
        factor shall be SERVICE as defined in the PLAN.

       

      In
        computing amounts payable from the RETIREMENT PLAN as an offset to the benefit
        payable from this PLAN, the RETIREMENT PLAN benefit shall be calculated as
        though the ELIGIBLE EMPLOYEE elected to receive a pension from the RETIREMENT
        PLAN commencing on the same date as benefits from this PLAN.

       

      2.03
        An
        ELIGIBLE EMPLOYEE may elect to have his BASIC SERP BENEFIT paid in any one
        of
        the following forms:

       

      a.
        BASIC
        SERP BENEFIT, or a reduced BASIC SERP BENEFIT as calculated under Section
        2.02,
        paid as a monthly annuity for the life of the ELIGIBLE EMPLOYEE with no
        survivor's benefit.

       

      b.
        A
        monthly annuity payable for the life of the ELIGIBLE EMPLOYEE with a survivor's
        option payable to the ELIGIBLE EMPLOYEE's joint annuitant beginning on the
        first
        of the month following the ELIGIBLE EMPLOYEE'S death. The factors to be applied
        to reduce the BASIC SERP BENEFIT to provide for a survivor's benefit shall
        be
        the factors which are contained in the RETIREMENT PLAN and which are appropriate
        given the type of joint pension elected and the ages and marital status of
        the
        joint annuitants. 

       

      2.04
        Annuities payable to an ELIGIBLE EMPLOYEE who is receiving a (i) BASIC SERP
        BENEFIT, (ii) a BASIC SERP BENEFIT reduced to provide a survivor's benefit
        to a
        joint annuitant, or (iii) a joint annuitant who is receiving a survivor's
        benefit shall be decreased by any additional amounts which can be paid from
        the
        RETIREMENT PLAN where such additional amounts are due to increases in the
        limits
        placed on benefits payable from qualified pension plans under Section 4l5
        of the
        Internal Revenue Code. The amount of any such decrease shall be adjusted
        to
        reflect the type of pension elected by an ELIGIBLE EMPLOYEE under the RETIREMENT
        PLAN and this PLAN. 

       

      
        
          
          

        

        
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      ARTICLE
        III

       

      DEATH
        BENEFITS

       

      3.01
        In
        the event that an ELIGIBLE EMPLOYEE who has accrued a benefit under this
        PLAN
        dies prior to the date that a BASIC SERP BENEFIT would otherwise commence
        and
        the ELIGIBLE EMPLOYEE is married at the time of the ELIGIBLE EMPLOYEE's death,
        the PLAN ADMINISTRATOR shall pay a spouse's benefit to the ELIGIBLE EMPLOYEE's
        surviving spouse:

       

      a.
        If the
        sum of the age and SERVICE of the ELIGIBLE EMPLOYEE at the time of death
        equaled
        70 (69.5 or more is rounded to 70) or if the ELIGIBLE EMPLOYEE was age 55
        at the
        time of death, the spouse's benefit shall be a monthly annuity commencing
        on the
        first of the month following the month in which the ELIGIBLE EMPLOYEE dies
        and
        shall be payable for the life of the surviving spouse. The amount of the
        monthly
        benefit shall be one-half of the monthly BASIC SERP BENEFIT that would have
        been
        paid to the ELIGIBLE EMPLOYEE calculated:

       

      1)
        as if
        he had elected to receive a BASIC SERP BENEFIT, without survivor's
        option;

       

      2)
        the
        monthly annuity starting date was the first of the month following the month
        in
        which the ELIGIBLE EMPLOYEE died; and 

       

      3)
        without the application of early retirement reduction factors.

       

      b.
        If the
        ELIGIBLE EMPLOYEE is less than 55 years of age or had fewer than 70 points
        (as
        calculated under Section 3.01(a)) at the time of death, the surviving spouse
        will be entitled to receive a monthly annuity commencing on the first of
        the
        month following the month in which the ELIGIBLE EMPLOYEE would have become
        age
        55 if he had survived. The amount of the monthly annuity payable to the
        surviving spouse shall be equal to the BASIC SERP BENEFIT converted to a
        marital
        joint annuity providing for a 50 percent survivor's benefit, calculated as
        if:
        1) the ELIGIBLE EMPLOYEE had terminated employment at the date of death,
        2) had
        lived until age 55, 3) had begun to receive PENSION payments, and 4) had
        subsequently died.

       

      c.
        If a
        former ELIGIBLE EMPLOYEE was age 55 or older at the time of his death and
        not
        yet receiving a SERP BENEFIT under the PLAN, the surviving spouse will be
        entitled to receive a monthly annuity in an amount equal to the BASIC SERP
        BENEFIT converted to a marital joint annuity providing for a 50 percent
        survivor's benefit, calculated as if the former ELIGIBLE EMPLOYEE had begun
        receiving the converted SERP BENEFIT immediately prior to his
        death.

       

      d.
        If a
        former ELIGIBLE EMPLOYEE was younger than age 55 or had fewer than 70 points
        (as
        calculated under Section 3.01(a)) at the time of his death, the

       

      
        
           

          
          

        

        
          -4-

          
            

          

        

        
          
          

        

      

      surviving
        spouse will be entitled to receive a monthly annuity in an amount equal to
        the
        BASIC SERP BENEFIT converted to a marital joint annuity providing for a 50
        percent survivor's benefit, calculated as if: 1) the former ELIGIBLE EMPLOYEE
        had survived until age 55, 2) had begun receiving the converted SERP BENEFIT,
        and 3) had subsequently died.

       

      3.02
        A
        surviving spouse who is entitled to receive a spouse's benefit under Section
        3.01 shall not be entitled to receive any other benefit under the PLAN.

       

      

       

      ARTICLE
        IV

       

      ADMINISTRATIVE
        PROVISIONS

       

      4.01
        Administration.
        The
        PLAN shall be administered by the Senior Human Resources Officer of the
        CORPORATION (“PLAN ADMINISTRATOR”), who shall have the authority to interpret
        the PLAN and make and revise such rules as he or she deems appropriate. The
        PLAN
        ADMINISTRATOR shall have the duty and responsibility of maintaining records,
        making the requisite calculations, and disbursing payments hereunder. The
        PLAN
        ADMINISTRATOR's interpretations, determinations, rules, and calculations
        shall
        be final and binding on all persons and parties concerned.

       

      4.02
        Amendment
        and Termination.
        The
        CORPORATION may amend or terminate the PLAN at any time, provided, however,
        that
        no such amendment or termination shall adversely affect an accrued benefit
        which
        an ELIGIBLE EMPLOYEE has earned prior to the date of such amendment or
        termination, nor shall any amendment or termination adversely affect a benefit
        which is being provided to an ELIGIBLE EMPLOYEE, surviving spouse, joint
        annuitant, or beneficiary under Article II or Article III on the date of
        such
        amendment or termination. Anything in this Section 4.02 to the contrary
        notwithstanding, the CORPORATION may reduce or terminate any benefit to which
        an
        ELIGIBLE EMPLOYEE, surviving spouse or joint annuitant, is or may become
        entitled provided that such ELIGIBLE EMPLOYEE, surviving spouse or joint
        annuitant is or becomes entitled to an amount equal to such benefit under
        another plan, practice, or arrangement of the CORPORATION.

       

      4.03
        Nonassignability
        of Benefits.
        Except
        to the extent otherwise directed by a domestic relations order that the Plan
        Administrator determines is a Qualified Domestic Relations Order under Section
        401(a)(12) of the Internal Revenue Code, the benefits payable under this
        PLAN or
        the right to receive future benefits under this PLAN may not be anticipated,
        alienated, pledged, encumbered, or subject to any charge or legal process,
        and
        if any attempt is made to do so, or a person eligible for any benefits becomes
        bankrupt, the interest under the PLAN of the person affected may be terminated
        by the PLAN ADMINISTRATOR which, in its sole discretion, may cause the same
        to
        be held if applied for the benefit of one or more of the dependents of such
        person or make any other disposition of such benefits that it deems
        appropriate.

       

      
        
          
          

        

        
          -5-

          
            

          

        

        
          
          

        

      

      4.04
        Nonguarantee
        of Employment.
        Nothing
        contained in this PLAN shall be construed as a contract of employment between
        a
        PARTICPATING EMPLOYER and the ELIGIBLE EMPLOYEE, or as a right of the ELIGIBLE
        EMPLOYEE to be continued in the employ of a PARTICIPATING EMPLOYER, to remain
        as
        an officer of a PARTICIPATING EMPLOYER, or as a limitation on the right of
        a
        PARTICIPATING EMPLOYER to discharge any of its employees, with or without
        cause.

       

      4.05
        Apportionment
        of Costs.
        The
        costs of the PLAN may be equitably apportioned by the PLAN ADMINISTRATOR
        among
        the PARTICIPATING EMPLOYERS. Each PARTICIPATING EMPLOYER shall be responsible
        for making benefit payments pursuant to the PLAN on behalf of its ELIGIBLE
        EMPLOYEES or for reimbursing the CORPORATION for the cost of such payments,
        as
        determined by the CORPORATION in its sole discretion. In the event the
        respective PARTICIPATING EMPLOYER fails to make such payment or reimbursement,
        and the CORPORATION does not exercise its discretion to make the contribution
        on
        such PARTICIPATING EMPLOYER’s behalf, future benefit accruals of the ELIGIBLE
        EMPLOYEES of that PARTICIPATING EMPLOYER shall be suspended. If at some future
        date, the PARTICIPATING EMPLOYER makes all past-due contributions, plus interest
        at a rate determined by the PLAN ADMINISTRATOR in his or her sole discretion,
        the benefit accrual of its ELIGIBLE EMPLOYEES will be recognized for the
        period
        of the suspension. 

       

      4.06
        Benefits
        Unfunded and Unsecured.
        The
        benefits under this PLAN are unfunded, and the interest under this PLAN of
        any
        ELIGIBLE EMPLOYEE and such ELIGIBLE EMPLOYEE's right to receive a distribution
        of benefits under this PLAN shall be an unsecured claim against the general
        assets of the CORPORATION.

       

      4.07
        Applicable
        Law.
        All
        questions pertaining to the construction, validity, and effect of the PLAN
        shall
        be determined in accordance with the laws of the United States, and to the
        extent not preempted by such laws, by the laws of the State of
        California.

       

      4.08
        Satisfaction
        of Claims.
        Notwithstanding Section 4.05 or any other provision of the PLAN, the CORPORATION
        may at any time satisfy its obligations (either on a before-tax or after-tax
        basis) for any benefits accrued under the PLAN by the purchase from an insurance
        company of an annuity contract on behalf of an ELIGIBLE EMPLOYEE. Such purchase
        shall be in the sole discretion of the CORPORATION and shall be subject to
        the
        ELIGIBLE EMPLOYEE’S acknowledgement that the CORPORATION’s obligations to
        provide benefits hereunder have been discharged, without regard to the payments
        ultimately made under the contract. In the event of a purchase pursuant to
        this
        Section 4.07, the CORPORATION may in its sole discretion make payments to
        or on
        behalf of an ELIGIBLE EMPLOYEE to defray the cost to such ELIGIBLE EMPLOYEE
        of
        any personal income tax in connection with the purchase.

       

      

       

      
        
          
          

        

        
          -6-

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