Document:

EXHIBIT 10.1

NV
Energy, Inc.

2003 Non-Employee Director Stock Plan

(as
amended and restated)

1.                   
Purpose of the Plan

The
purpose of the 2003 Non-Employee Director Stock Plan, as amended and restated,
is to provide ownership of the Company’s Stock to non-employee members of the
Board of Directors in order to improve the Company’s ability to attract and
retain highly-qualified individuals to serve as directors of the Company; to
provide competitive compensation for Board service and to strengthen the
commonality of interest between directors and stockholders.

2.                   
Definitions 

When
used herein, the following terms shall have the respective meanings set forth
below:

(a)                
“Annual Retainer” means (i) the
annual retainer payable to all Non-Employee Directors for Board service (exclusive
of any committee fees or retainers, committee chairperson fees or retainers,
meeting fees or expense reimbursements), and (ii) in the case of the Chairman
of the Board, any additional annual retainer payable to the Chairman for
service as such on the Board.

(b)                
“Annual Meeting of Stockholders”
means the annual meeting of stockholders of the Company at which directors of
the Company are elected.

(c)                
“Board” means the Board of
Directors of the Company.

(d)                
“Committee” means a committee
whose members meet the requirements of Section 4(a) hereof, appointed or
designated from time to time by the Board to administer the Plan.

(e)                
“Common Stock” means the common
stock, $1.00 par value, of the Company.

(f)                 
“Company” means NV Energy, Inc., a
Nevada corporation, and any successor corporation.

(g)                
“Employees” means any officer or
employee of the Company or of any Subsidiary (whether or not such Subsidiary
participates in the Plan).

(h)                
“Non-Employee Director” or
“Participant” means any person who is elected or appointed to the Board of Directors
of any Participating Company and who is not an Employee.

(i)                  
“Participating Company” means the
Company and any Subsidiary of the Company whose participation in the Plan has
been approved by both the Company’s and such Subsidiary’s Board of Directors.

(j)                  
“Plan” means the Company’s 2003
Non-Employee Director Stock Plan as amended and restated herein, as it may be
amended from time to time.

(k)                
“Plan Year” means the period
commencing on the effective date of the Plan and ending the next following
December 31 and thereafter the calendar year.

(l)                  
“Stock Payment” means the
combination of (x) the fixed portion of the Annual Retainer which the Board
elects to pay to a Non-Employee Director in shares of Common Stock rather than
cash for services rendered as a director of a Participating Company as provided
in Section 6(b) hereof, and (y) that portion, if any, of a Participant’s Annual
Retainer otherwise payable in cash which the Participant elects to receive in
shares of Common Stock pursuant to an election described in Section 7 hereof.

 

 

 

(m)               
“Subsidiary” means any corporation
that is a “subsidiary corporation” of the Company, as that term is defined in
Section 424(f) of the Internal Revenue Code of 1986, as amended (the “Code”). 

3.                   
Shares of Common Stock Subject to
the Plan

Subject
to adjustment as provided in Section 10 below, the maximum aggregate number of
shares of Common Stock that may be issued under the Plan is 1,400,000 shares.
The Common Stock to be issued under the Plan will be made available (a) from
authorized but unissued shares of Common Stock, and the Company shall set aside
and reserve for issuance under the Plan said number of shares, (b) from
Treasury stock, or (c) through purchases made on the open market. 

4.                   
Administration of the Plan

(a)                
The Plan will be administered by
the Committee, which will consist of three or more persons. Members of the
Committee need not be members of the Board. The Company shall pay all costs of
administration of the Plan.

(b)                
Subject to the express provisions
of the Plan, the Committee has and may exercise such powers and authority of
the Board as may be necessary or appropriate for the Committee to carry out its
functions under the Plan. Without limiting the generality of the foregoing, the
Committee shall have full power and authority (i) to determine all questions of
fact that may arise under the Plan, (ii) to interpret the Plan, remedy any
ambiguities or inconsistencies,  and to make all other determinations necessary
or advisable for the administration of the Plan, and (iii) to prescribe, amend,
and rescind rules and regulations relating to the Plan, including, without
limitation, any rules which the Committee determines are necessary or
appropriate to ensure that the Company, each Participating Company and the Plan
will be able to comply with all applicable provisions of any federal, state or
local law, including securities laws. All interpretations, determinations, and
actions by the Committee will be final, conclusive, and binding upon all
parties. Any action of the Committee with respect to the administration of the
Plan shall be taken pursuant to a majority vote at a meeting of the Committee
(at which members may participate by telephone) or by the unanimous written
consent of its members. To the extent permitted by applicable law, the Board or
Committee may delegate administrative or ministerial responsibilities for the
Plan to third parties, including Employees.

(c)                
Neither the Company, nor any other
Participating Company, nor any representatives, employees or agents of any
Participating Company, nor any member of the Board or the Committee will be
liable for any damages resulting from any action or determination made by the
Board or the Committee with respect to the Plan or any transaction arising
under the Plan or any omission in connection with the Plan in the absence of
willful misconduct or gross negligence.

5.                   
Participation in the Plan

(a)                
All Non-Employee Directors shall
participate in the Plan, subject to the conditions and limitations of the Plan,
so long as they remain eligible to participate in the Plan.

(b)                
No Non-Employee Director shall be
eligible for a Stock Payment if, at the time said Stock Payment would otherwise
be made (determined without regard to any election to defer receipt of a Stock
Payment under Section 8), such Non-Employee Director owns (or is deemed to own)
directly or indirectly, shares of Common Stock representing more than five
percent of the total combined voting power of all classes of stock of the
Company. The compensation, if any, of such directors shall be determined by the
Board.

6.                   
Determination of Annual Retainers
and Stock Payments

(a)                
The Board shall determine the
amount of the Annual Retainer for all Non-Employee Directors of the Company and
all Participating Companies, which amount may change from time to time and
which amount may vary among Participants. For avoidance of doubt, unless the
Board provides otherwise in writing, no individual shall receive under this
Plan an Annual Retainer from more than one Participating Company for the same
Plan Year.

 

 

 

(b)                
Each person who is a Non-Employee
Director of one or more Participating Companies immediately following the date
of the Annual Meeting of Stockholders shall receive a Stock Payment not later
than thirty (30) days after the date of the Annual Meeting of Stockholders as a
portion of the Annual Retainer payable to such director as provided in the Plan
for serving in such capacities. The number of whole shares to be issued to each
Participant as a Stock Payment under this Section 6(b) shall be determined by
dividing $75,000 (or such other amount as the Board may specify in writing from
time to time) by the applicable Market Price. The “Market Price” of
Common Stock issued by the Company under this Section 6(b) of the Plan shall be
the closing price of the Common Stock listed on the New York Stock Exchange on
the date of the applicable Annual Meeting of Stockholders, or the closing price
on the preceding trading day if the meeting is held on a date when the New York
Stock Exchange is closed. Upon payment, the shares of Common Stock constituting
Stock Payments shall be deposited into an account with the Company’s transfer
agent (or credited to an account evidencing the Participant’s ownership of the
stock in uncertificated form), or at the discretion of the Committee, deposited
in a stock brokerage account, which will be registered as directed by the
Participant. A statement evidencing the Stock Payment will be mailed to each
Participant as soon as practicable following the respective Annual Meeting of
Stockholders.

(c)                
Subject to any election by a
Participant to increase the amount of the Stock Payment as provided in Section
7, the cash portion of the Annual Retainer shall be paid to Non-Employee
Directors in four (4) approximately equal quarterly installments on June 30th,
September 30th, December 31st and March 31st
next following such Annual Meeting of Stockholders (the “Quarterly Payment
Dates”); provided, however, that in the sole discretion of the Committee
the Company may pay such installment payments up to thirty (30) days before or
thirty (30) days after such Quarterly Payment Dates, except that a Participant
shall not have any right to designate the taxable year of payment. In the event
that a Participant shall cease to serve as a Non-Employee Director prior to the
next Annual Meeting of Stockholders, such Participant shall be entitled to
retain any cash payments of the Annual Retainer made by the Company during the
period beginning on the date of the Annual Meeting of Stockholders immediately
preceding the Participant’s date of termination of service and ending on the
date of the Participant’s termination of service, but the Participant shall not
be entitled to any future cash payments of the Annual Retainer.

(d)                
No Non-Employee Director shall be
required to forfeit or otherwise return to the Company any shares of Common
Stock issued to him or her as a Stock Payment pursuant to Section 6(b) of the
Plan notwithstanding any change in status of such Non-Employee Director which
renders him or her ineligible to continue as a Participant in the Plan. Any
person who is a Non-Employee Director immediately following the date of the
Annual Meeting of Stockholders shall be entitled to receive the Stock Payment
described in Section 6(b) as a portion of the applicable Annual Retainer
notwithstanding any change in status of such Non-Employee Director which
renders such director ineligible to continue participation in the Plan prior to
the shares of Common Stock being deposited in or otherwise credited to the
Participant’s stock account.

7.                   
Election to Increase Amount of
Stock Payment

(a)                
In lieu of receiving the cash
portion of his or her Annual Retainer, a Participant may make a written
election to reduce the cash portion of such Annual Retainer by a specified
dollar amount and have such amount applied to purchase additional shares of
Common Stock at the same time as shares are purchased under Section 6(b) of the
Plan. The number of whole shares of Common Stock to be issued to the
Participant pursuant to any such election shall be determined by dividing the
amount of cash elected to be paid in additional shares of Common Stock by the
closing price of the Common Stock listed on the New York Stock Exchange on the
date of the applicable Annual Meeting of Stockholders, or the closing price on
the preceding trading day if the meeting is held on a date when the New York
Stock Exchange is closed. The resulting number of shares of Common Stock shall
be issued at the same time and in accordance with the same procedures as
described in Section 6(b) of the Plan. The election shall be made on a form
provided by the Committee and must be returned to Committee prior to the first
day of the Plan Year to which the election relates. No Participant shall be
allowed to change or revoke any election for the relevant year, but may change
his or her election for any subsequent Plan Year.

(b)                
Except as otherwise provided in
writing by the Board prior to the issuance of a Stock Payment, any shares of
Common Stock that a Participant elects to receive under this Section 7 of the
Plan in lieu of the cash portion of the Participant’s Annual Retainer shall be
nonforfeitable and subject to the provisions of Section 6(d) of the Plan. 

 

 

 

 

8.                   
Election to Defer Receipt of Stock
Payment

(a)                
In lieu of receiving the Stock
Payments described in Section 6(b) and Section 7 of this Plan following the
date of the Annual Meeting of Stockholders, a Participant may make a written
election to defer such receipt until he or she ceases to be a Non-Employee
Director or until such other date(s) as shall be specified on the election form
and approved by the Committee. The election shall be made on a form provided by
the Committee and must be returned to the Committee prior to the first day of
the Plan Year to which the election relates. No Participant shall be allowed to
change or revoke any election for the relevant year, but may change his or her
election for any subsequent Plan Year.

(b)                
A Participant who has elected to
defer the receipt of a Stock Payment described in Section 6(b) and/or Section 7
shall be deemed to have elected to receive Company stock units in lieu of such
Stock Payments, the value of which shall be determined by reference to the
closing price of the Common Stock listed on the New York Stock Exchange on the
relevant date, or on the preceding trading day if the relevant date is a date
when the New York Stock Exchange is closed. Such Company stock units shall be
settled in shares of Common Stock on the payment date(s) specified in the
Participant’s election. Prior to settlement, an electing Participant shall be
an unsecured creditor of the Company with respect to the amount of the deferral
and not a stockholder of the Company with respect to the shares of Common Stock
which have been deferred. A Participant who has elected to defer the receipt of
a Stock Payment shall not be entitled to cash dividends or the right to vote
such shares prior to the time that shares are issued at settlement, but in the
event of a change in the Company’s capitalization the Committee shall adjust
the number of stock units in a manner consistent with Section 10. In addition,
the Company shall credit to such Participant as additional compensation and not
as a dividend the amount of any cash dividends which would have been paid to
such Participant had he or she then been the owner of the shares of Common
Stock which have been deferred. Any such dividend equivalents shall be paid to
the Participant in cash with the next quarterly installment payment of the cash
portion of the Annual Retainer that is paid (or would have been paid) on or
after the date that the dividend equivalent is credited to the Participant
(i.e. on the next June 30th, September 30th, December 31st
and March 31st); provided, however, that in the sole discretion of
the Committee, the Company may pay such dividend equivalents up to thirty (30)
days before or thirty (30) days after such quarterly payment dates, except that
a Participant shall not have any right to designate the taxable year of
payment. Any shares of Common Stock that are issued in settlement of an
election to defer receipt of a Stock Payment shall be subject to the provisions
of Section 9 and 10 of this Plan.

(c)                
A Participant may file with the
Committee a written designation of a beneficiary or beneficiaries (subject to
such limitations as to the classes and number of beneficiaries and contingent
beneficiaries and such other limitations as the Committee from time to time may
prescribe) to receive, in the event of the death of such Participant,
undelivered shares of Common Stock. A Participant may from time to time revoke or
change any such designation of beneficiary. Any designation or beneficiary
under the Plan shall be controlling; provided, however, that if the Committee
shall be in doubt as to the right of such beneficiary to receive any such
shares, the same may be delivered to the legal representatives of the
Participant, in which case the Company, the Committee and the members thereof
shall not be under any further liability to anyone.

 

(d)                
This Plan is
intended to comply with and be interpreted in accordance with Section 409A of
the Code and the United States Department of Treasury regulations and other
guidance issued thereunder (collectively, “Section 409A”). Each payment in any series of payments that is
provided to a Participant pursuant this Plan will be deemed to be a separate
payment for purposes of Section 409A. If
any amounts payable under this Plan upon a termination of service are
determined by the Company to constitute “nonqualified deferred compensation”
for purposes of Section 409A (after taking into account the short-term deferral
exception under Section 409A which is hereby incorporated by reference), such
amounts shall not be paid unless and until the Participant’s termination of
service also constitutes a “separation from service” from the Company for purposes
of Section 409A.

 

9.                   
Stockholder Rights

Non-Employee
Directors shall not be deemed for any purpose to be or have rights as
stockholders of the Company with respect to any shares of Common Stock until
the date of issuance of such shares (as evidenced by the appropriate entry on
the books of the Company or of a duly authorized transfer agent of the
Company). Except as

 

 

 

 provided in Section 10, no
adjustment shall be made for dividends or distributions or other rights for
which the record date is prior to the date such shares are issued.

10.                
Adjustment for Changes in
Capitalization

If the
outstanding shares of Common Stock are increased, decreased, or exchanged for a
different number or kind of shares or other securities, or if additional shares
or new or different shares or other securities are distributed with respect to
such shares of Common Stock or other securities, through merger, consolidation,
sale of all or substantially all of the property of the Company, reorganization
or recapitalization, reclassification, stock dividend, stock split, reverse
stock split, combination of shares, rights offering, distribution of assets or
other distribution with respect to such shares of Common Stock or other
securities or other change in the corporate structure or shares of Common
Stock, the maximum number of shares and/or the kind of shares that may be
issued under the Plan shall be appropriately adjusted by the Committee. Any
determination by the Committee as to any such adjustment will be final,
binding, and conclusive. The maximum number of shares issuable under the Plan
as a result of any such adjustment shall be rounded down to the nearest whole
share.

11.                
Continuation of Director or Other
Status

Nothing
in the Plan or in any instrument executed pursuant to the Plan or any action
taken pursuant to the Plan shall be construed as creating or constituting
evidence of any agreement or understanding, express or implied, that the
Company or any other Participating Company, as the case may be, will retain a
Non-Employee Director as a director or in any other capacity for any period of
time or at a particular retainer or other rate of compensation, as conferring
upon any Participant any legal or other right to continue as a director or in
any other capacity, or as limiting, interfering with or otherwise affecting the
right of a Participating Company to terminate a Participant in his or her
capacity as a director or otherwise at any time for any reason, with or without
cause, and without regard to the effect that such termination might have upon
him or her as a Participant under the Plan.

12.                
Compliance With Government
Regulations

Neither
the Plan nor the Company shall be obligated to issue or deliver any shares of
Common Stock pursuant to the Plan at any time unless and until all applicable
requirements imposed by any federal and state securities and other laws, rules,
and regulations, by any regulatory agencies, or by any stock exchanges upon
which the Common Stock may be listed have been fully met. As a condition
precedent to any issuance or delivery of shares of Common Stock pursuant to the
Plan, the Board or the Committee may require a Participant to take any such
action and to make any such covenants, agreements and representations as the
Board or the Committee, as the case may be, in its discretion deems necessary
or advisable to ensure compliance with such requirements. The Company shall in
no event be obligated to register the shares of Common Stock issued or issuable
under the Plan pursuant to the Securities Act of 1933, as now or hereafter
amended, or to qualify or register such shares under any securities laws of any
state upon their issuance under the Plan or at any time thereafter, or to take
any other action in order to cause the issuance and delivery of such shares
under the Plan or any subsequent offer, sale or other transfer of such shares
to comply with any such law, regulation or requirement. Participants shall be
responsible for complying with all applicable federal and state securities and
other laws, rules and regulations in connection with any offer, sale or other
transfer of the shares of Common Stock issued under the Plan or any interest
therein including, without limitation, compliance with the registration
requirements of the Securities Act of 1933, as amended (unless an exemption
therefrom is available), or with the provisions of Rule 144 promulgated
thereunder, if available, or any successor provisions.

13.                
Nontransferability of Rights

No
Participant shall have the right to assign the right to receive any Annual
Retainer, Stock Payment or any other right or interest under the Plan,
contingent or otherwise, or to cause or permit any encumbrance, pledge or
charge of any nature to be imposed on any such Annual Retainer, Stock Payment
(prior to the shares of stock being deposited to the Participant’s stock
account) or any such right or interest.

 

 

 

 

14.                
Amendment of Termination of Plan

(a)                
The Board will have the power, in
its discretion, to amend, suspend or terminate the Plan at any time. No such
amendment will, without approval of the stockholders of the Company, change the
Plan in any way which, under the applicable rules or requirements of any stock
exchange upon which the Common Stock is then listed, would require the prior
approval of the Company’s stockholders.

(b)                
No amendment, suspension or
termination of the Plan will, without the consent of the Participant, alter,
terminate, impair, or adversely affect any right or obligations under any Stock
Payment previously granted under the Plan to such Participant, unless such
amendment, suspension or termination is required by applicable law.

(c)                
Notwithstanding the foregoing, the
Board may, without further action by the stockholders of the Company, amend the
Plan or modify Stock Payments under the Plan (i) in response to changes in
securities or other laws, or rules, regulations or regulatory interpretations
thereof, applicable to the Plan, or (ii) to comply with stock exchange rules or
requirements.

15.                
Governing Law

The
laws of the State of Nevada shall govern and control the interpretation and
application of the terms of the Plan.

16.                
Effective Date; Duration of the
Plan; Successors

	
    
     

     

    

    
	 

This Plan, as amended and restated, will become effective upon (a)
adoption by the Board, and (b) approval by a majority of the votes cast with
respect to such matter at a duly held meeting of the stockholders of the
Company. Unless previously terminated by the Board, the Plan will terminate on
December 31, 2022. All obligations of the Company under the Plan shall be
binding on any successor to the Company, whether the existence of such
successor is the result of an acquisition, merger or consolidation or of a
direct or indirect purchase of all or substantially all of the business and/or
assets of the Company.EXHIBIT 10.2

 

 

May 25, 2012

 

 

Jonathan S. Halkyard

8944 Brook Bay Court

Las Vegas, Nevada 89134

 

 

Dear Jonathan,

 

 

On behalf of the Board of Directors, I
am pleased to offer you the position of Executive Vice President and Chief
Financial Officer for NV Energy (NVE) and its subsidiaries.  Your work location
will be at NVE headquarters in Las Vegas, Nevada.  You will report directly to
me in this position and it is my expectation that you will assume your duties
as soon as possible but not later than July 9, 2012.  Your job will involve
business travel, especially to the financial markets and our locations in the
Western U.S.

 

Your starting base salary will be
$500,000.  You will also be eligible to participate in the Company’s annual
cash Short Term Incentive Plan (STIP) with a target award equal to 75% of your
annual base salary.  Payment of the Short Term Incentive is at the discretion
of the Board of Directors and is based on corporate and individual
performance.  Actual payout may vary from 0% to 150% of target and will be
prorated based on your hire date.

 

As a special inducement to join NVE, you
will receive 60,000 shares (“Inducement Shares”) of NV Energy stock in the form
of Restricted Stock Units which will vest as follows:  20,000 after one year,
and 40,000 after three years.  

Additionally, as an Officer with our
company, you’ll be eligible for compensation opportunities and employee
benefits that are commensurate with your job level.  These additional
opportunities and benefits are summarized below.

 

Long-Term Incentive Plan

 

The Board of Directors of the Company
has established a Long Term Incentive Plan (LTIP) for this position that has
been approved by the shareholders.  The Board reviews and determines long term
incentive grants annually. 

 

For your position, the value of
long-term incentives is targeted at 150% of your base salary per annum. 
Employees who participate in LTIP during 2012 will receive two thirds of their
grant in the form of Performance Units that will be based upon NV Energy’s Total
Shareholder Return (TSR) compared with the TSR of other similar investor-owned
electric utilities.  One third of the grant will be in the form of Performance
Shares that will be measured against three-year aggregate performance of
corporate STIP goals.  Actual payout may vary from 0% to 150% of target and
will be prorated based on your hire date.

 

 

 

As an officer of
the Company, you will be expected to retain three times your annual base salary
in NVE stock. Except for shares that are used to meet tax withholding, you will
be precluded from selling 50% of shares that are vested in either the LTIP or
the Inducement Shares until you reach the retention level. 

 

Change in Control

 

You will be eligible for the normal
Change in Control protection that has been put in place for Company officers by
the Board of Directors. The current plan term expires on December 31, 2013.  A
copy of the plan document is attached.  

 

Termination Within the First Two
Years

 

In addition to the benefits described
above, in the event that you are terminated within your first two years of
employment for reasons other than (1) willful misconduct or actions that have a
material adverse impact on the Company, (2) conviction of any crime amounting
to a felony, or (3) on your own volition and without actually being requested
to resign by the Board, you will be eligible to receive one year’s base pay
plus target Short Term Incentive, within thirty days of termination.  This
payment shall be conditioned upon the execution of a standard release of claims
connected with or arising out of your employment with the Company.  In
addition, you will be required to maintain confidentiality of Company
information and proprietary data, and agree to a one year non-compete
agreement.  This non-compete agreement specifies that you may not obtain
employment or perform consulting services with other investor owned electric
utilities for a period of one year following your termination from our
Company.  This payment will not be made to the extent that you receive any
other severance, disability or retirement payments from the Company, including
a payment for Change in Control.

 

Life Insurance

 

The Company will provide you with
executive life insurance coverage equivalent to 3.0 times your annual salary.  This is in addition to a
$1,000,000 death benefit that will be paid out to your survivors per our
Business Travel and Accident policy in the event of a covered death under that
policy.  

 

Additional Compensation &
Benefits

 

·        
You will be eligible for all
regular employee Health and Welfare Benefit plans and participation in the
Company’s qualified cash balance pension and 401(k) plans.  You will also be
eligible to participate in the Company’s Non-Qualified Pension and 401(k)
Restoration Plans.

·        
You will be eligible to
participate in the executive physical program which is paid for by the Company.

·        
You will be reimbursed for
initiation and dues associated with your membership at a local country club.

·        
Your annual paid Time Off program
(PTO) will be 25 days, which will be pro-rated for the remainder of 2012.  You
will also receive pay for all remaining Company holidays during the year.

 

 

 

 

 

The benefits described in this letter
are subject to the terms and conditions of formal plan documents.  These formal
plan documents will control in the event of any discrepancy or conflict with
this letter or any other communication material.  The Company reserves the
right to amend, in whole or in part, or to terminate, its compensation and
benefits programs, at any time.

 

This letter should not be construed as a
promise or guarantee of future employment.  NV Energy is an at-will employer,
excluding represented employees covered under a Collective Bargaining
Agreement.  Employment can be terminated, with or without cause and with or
without notice, at any time, at the option of the Company or yourself.  It is
intended that all of the terms and conditions of employment identified in this
offer letter are all-inclusive.

 

Per Company policy, all hiring offers
are contingent upon successful completion of a drug test and background check. 
We will arrange a convenient time and place to administer your drug test prior
to employment.  You will need to provide proof of U.S. citizenship on your
first day of work.  Information on employee benefit programs and enrollment
documents will be mailed to you after successful completion of your drug test
and background check.   

 

The position that is being offered to
you is one of trust and confidence.  By accepting this position you are
agreeing that in addition to any other limitation and regardless of the
circumstances or any future limitations on your employment, that you will not
communicate to any other person, firm or other entity any knowledge relating to
documents, transactions or any other confidential information which you might
acquire with respect to the business of NV Energy or any of its affiliates.  

 

Please sign below to indicate your
acceptance of this offer, retain a copy for your records, and return the signed
copy to me at your earliest convenience but no later than June 1, 2012.

 

Jonathan, I am excited about the
prospects of you joining NV Energy and I look forward to working with you.  If
you have any questions about the elements of this offer, feel free to contact
me.  I look forward to hearing from you soon.

 

Sincerely,

 

 

/s/  Michael W. Yackira

 

Accepted:

 

 

/s/ Jonathan S. Halkyard                                     Date:  June
25, 2012

     Jonathan S. Halkyard

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