Document:

exhibit10-a.htm

    EXHIBIT 10(A)

     

    
 

    May
      21,
      2002

    

    

    Mr.
      Donald L. “Pat” Shalmy

    379
      Placer Creek Lane

    Henderson
      NV 89014

    

    Dear
      Pat,

    

    On
      behalf
      of the Board of Directors, I am pleased to offer you employment as Senior Vice
      President, Nevada Power.  Your work location will be at Sierra Pacific
– Nevada Power headquarters in Las Vegas, Nevada.  You will report
      directly to me in this position.  We expect that you will assume your
      duties as soon as possible.

    

    Your
      starting base salary in this position will be $300,000.  You will also
      be eligible for an annual cash incentive, Short Term Incentive Program (STIP),
      of 45% (target) of your base salary.  Payment of the Short Term
      Incentive is at the discretion of the Board of Directors and is based on
      corporate, business unit and personal performance.  Actual payout may
      vary from 0% to 150% of target.  Your participation for 2002 will be
      prorated from your start date.

    

    Long-term
      incentives for this position are in accordance with the plan approved by the
      shareholders and administered by the Board of Directors.  At this
      time, long-term incentives consist of Non-Qualified Stock Options (NQSO's)
      and
      performance shares.  For your position the long-term incentive is
      targeted at 75% of your base salary, 60% delivered through NQSO's and 40%
      delivered through Performance Shares.  The NQSO's vest one-third per
      year and are fully vested after the third year.  Performance shares
      have a three-year term and are earned based on measures established by the
      Board
      for each grant.  You will also be eligible to participate on a
      pro-rata basis (31 of 36 months) in the 2002-2004 Performance Share grant made
      earlier this year.  In addition you will also be able to participate
      in the 2001-2003 Performance Share grant for the remaining 19 of the original
      36
      months.

    

    As
      a
      special inducement for you to join SPR, the Board has also authorized the
      following incentives.  A one-time signing bonus of $25,000, gross
      amount before taxes. In addition, you will receive a special stock option grant
      of 25,000 NQSO's at a strike price to be set based on the closing stock price
      on
      the day you accept this offer by signing it and informing me that you have
      done
      so.  These options will vest at the end of one year, or upon change of
      control if such an event were to occur before the end of one year.  As
      a Senior Vice President, you will be expected to achieve and maintain one and
      a
      half times your annual compensation in SPR stock.  You will have five
      years to achieve this level.

    

    Should
      an
      event occur on or before December 31, 2002, which would constitute a change
      of
      control or potential change of control (as defined under the terms of company’s
      senior executive change of control plan), and if your employment is terminated
      or you are notified that it will be terminated,
      you will be eligible to receive one year’s base pay plus target annual
      incentive, upon termination, unless your employment is terminated for (1)
      reasons relating to moral turpitude, (2) conviction of any crime amounting
      to a
      felony, or (3) on you own volition and without actually being requested to
      resign by the Board. This payment shall be conditioned on the execution of
      appropriate releases in favor of the Company for any and all claims connected
      with or arising out of your employment or termination and will require continued
      maintenance of confidential and proprietary information, a non-compete for
      one
      year and agreement not to disparage the Company. Beginning January 1, 2003
      you
      will be eligible for inclusion within the company’s senior executive change of
      control plan.

    

    You
      will
      be eligible to participate in the Company's Supplemental Executive Retirement
      Plan (SERP) and eligible for benefits under this Plan including a maximum
      benefit of 50% of your Final Average Earnings

    

    The
      Company will also provide you life insurance coverage of $400,000 contingent
      upon completion of a physical exam performed by a doctor selected by our
      insurance carrier. This will be in addition to a $1,000,000 policy in the event
      that you die while traveling on Company business and company provided group
      life
      insurance equivalent to 1.5 times your annual salary.

    

    You
      will
      be eligible for all regular employee benefits including a 401K plan that matches
      employee contributions dollar for dollar up to 6% and SPR’s Deferred
      Compensation Plan.  You will receive a perquisite allowance of $15,000
      to cover such expenses as a car, tax preparation and club
      memberships.  You will receive paid time off (PTO) based on your total
      years of professional work experience (40).  Your annual paid time off
      allowance will be 33.4 days, plus 11 paid holidays.  In 2002, PTO will
      be pro rated based on your hire date.

    

    In
      addition to the benefits described above, in the event you are terminated for
      reasons other than (1) reasons relating to moral turpitude, (2) conviction
      of
      any crime amounting to a felony, or (3) on you own volition and without actually
      being requested to resign by the Board, you will receive within thirty days
      of
      termination, one year of base salary.  This payment shall be
      conditioned on the execution of appropriate releases in favor of the Company
      for
      any and all claims connected with or arising out of your employment or
      termination and will require continued maintenance of confidential and
      proprietary information, a non-compete for one year and agreement not to
      disparage the Company.

    

    As
      is
      Sierra’s policy, all hiring offers are contingent on a drug analysis test. We
      can arrange for you to have this test at a time and place convenient for
      you.  Also you will need to provide us proof of U.S. Citizenship on
      your first day of work.  This could include a copy of your Birth
      Certificate, Driver’s License or Social Security Card.

    

    The
      position being offered to you is one of trust and confidence.  In
      accepting the position you are agreeing that, in addition to any other
      limitation and regardless of the circumstances or any future limitation of
      your
      employment, you will not communicate to any person, firm or other entity any
      knowledge relating to documents, transactions or any other confidential
      knowledge which you might acquire with respect to the business of Sierra Pacific
      Resources or any of its affiliated companies.

    

    To
      indicate acceptance of this offer, please sign below and return one signed
      original of this letter to me as soon as possible.  If you have
      questions about elements of this offer, you may call me or discuss them with
      Victor H. Peña, Senior Vice President and CAO.

    

    On
      behalf
      of the board and the senior officers of the company, I am delighted that you
      have accepted the opportunity to join Nevada Power and the Sierra Pacific
      team.  We believe, with your leadership, expertise and dedication we
      will accomplish great results for our shareholders, customers, employees and
      communities. Welcome!

    

    

    Sincerely,

    

    

    Walter
      M.
      Higgins

    

    

    Accepted:

    

    _____________________________

    Donald
      L. “Pat” Shalmy

    

    

    Date
      _________________________exhibit10-b.htm

    EXHIBIT 10(B)

    

 

    William
      D. Rogers was elected to his
      current position of  Corporate Senior Vice President, Chief Financial
      Officer and Treasurer of Sierra Pacific Resources on February 15,
      2007.  No formal offer letter or contract for employment was entered
      into with Mr. Rogers, as he was previously employed by the
      Company.  However, Mr. Rogers was verbally communicated his salary,
      benefits and employment arrangement.  The annual salary communicated
      to Mr. Rogers was $300,000.  Additionally, Mr. Rogers is eligible for
      an annual cash incentive, Short Term Incentive Program (STIP), of 50% (target)
      of his base salary.  Actual payout may vary from 0% to 150% of
      target.  Mr. Rogers’ long term incentive plan is targeted at 86% of
      his base salary.  Mr. Rogers is eligible to participate in the
      Company's Supplemental Executive Retirement Plan.  Mr. Rogers is also
      eligible for all regular employee benefits including a 401K plan that matches
      employee contributions dollar for dollar up to 6% and SPR’s Deferred
      Compensation Plan, medical benefits and paid time off.  He will also
      receive a perquisite allowance of $15,000 to cover such expenses as a car,
      tax
      preparation and club memberships.  Furthermore, Mr. Rogers was offered
      a housing allowance for $2,000 per month.exhibit10-c.htm

    EXHIBIT 10(C)

     

    
 

    Jeff
      Ceccarelli, as Corporate Senior
      Vice President, Service Delivery and Operations of Sierra Pacific Resources
      and
      President of Sierra Pacific Power Company has no formal offer letter or contract
      for employment with Sierra Pacific Resources or Sierra Pacific Power
      Company.  However, Mr. Ceccarelli was verbally communicated his
      salary, benefits and employment arrangement.  The annual salary
      communicated to Mr. Ceccarelli was $350,000.  Additionally, Mr.
      Ceccarelli is eligible for an annual cash incentive, Short Term Incentive
      Program (STIP), of 50% (target) of his base salary.  Actual payout may
      vary from 0% to 150% of target.  Mr. Ceccarelli’s long term incentive
      plan is targeted at 86% of his base salary. Mr. Ceccarelli is eligible to
      participate in SPR’s Supplemental Executive Retirement Plan.  Mr.
      Ceccarelli is also eligible for all regular employee benefits including a 401K
      plan that matches employee contributions dollar for dollar up to 6% and SPR’s
      Deferred Compensation Plan, medical benefits and paid time off.  He
      will also receive a perquisite allowance of $15,000 to cover such expenses
      as a
      car, tax preparation and club memberships.  Furthermore, Mr.
      Ceccarelli was offered a housing allowance for $42,000 to maintain a home in
      Las
      Vegas.

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