Document:

exv10w11

Exhibit 10.11

	 	 	 
	

	 	Entergy Services, Inc.

639 Loyola Avenue

New Orleans, LA 70113

April 10, 2008

John McGaha 

206
Valley Road

Ridgeland, MS 39157

RE: Conditional Offer of Spinco Employment

Dear John:

In furtherance of our discussions, this letter agreement sets forth the terms and conditions of
our conditional offer of employment with the new legal entity expected to be established in 2008
to own the non-utility nuclear business contemplated to be spun off from Entergy Corporation in a
separate transaction. For purposes of this Agreement, the new legal entity shall be referred to as
“Spinco.” Provided Spinco has been legally formed, the spin-off occurs, and you have met all of
the terms and conditions for employment with Spinco as set forth below, your new full-time
position is contemplated to be Chief Operating Officer, reporting to Richard J. Smith, with your
job location in Jackson, MS. The details of employment under this agreement (the “Agreement”) are
set forth below and shall supersede any other oral or written employment offers, representations,
agreements or communications related to current or future Spinco employment that you may have
received from, or entered into with, Entergy Services, Inc. (“ESI”), or any other affiliate or
subsidiary of Entergy Corporation (collectively, the “Entergy System,” and each an “Entergy System
Company”) prior to the execution of this Agreement, which prior offers, representations,
agreements or communications you acknowledge are without effect. The date upon which you execute
this Agreement indicating your acceptance of the conditional offer of employment with Spinco shall
be the effective date of the Agreement. We are excited to offer you this opportunity and feel that
you can add tremendous value to the Spinco team being assembled.

	1.	 	Compensation and Benefits:

If the contingencies set forth below are met, and you become employed by Spinco under this
Agreement, your employment shall be at-will, and your compensation, benefits and incentive
package is anticipated to be as follows, subject to required approvals:

	 	(a)	 	The Spinco Offer.

	 	(i)	 	Salary. Your bi-weekly rate of pay at Spinco shall be FIFTEEN THOUSAND NINE HUNDRED
SIXTY-ONE AND 54/100 ($15,961.54) DOLLARS or such amount as may be approved from time to
time by Spinco, in its sole discretion, while you are employed in accordance with this
Agreement (subject to all appropriate withholdings or other deductions required by law or by
Spinco’s established policies), such salary to be payable in accordance with Spinco’s
payroll practices. To the fullest extent permitted by law, Spinco shall have the right to
require you to remit to it, or to withhold from other amounts payable to you, as
compensation or otherwise, an amount sufficient to satisfy all federal, state and local tax
withholding requirements.
	 
	 	(ii)	 	Benefits. You may participate in all Spinco qualified employee benefit plans, welfare
benefit plans and programs for which you are eligible, in accordance with the terms and
conditions of such plans and programs as in effect and as they may be amended from time to
time. Your participation in some or all of these plans may be contingent upon your execution
of, and the

 

 

April 10, 2008

Page 2 of 5

	 	 	 	acceptance by the plan’s administrator of, a participation agreement, and upon your
satisfaction of other terms and conditions. Except as specifically set forth herein, the
benefits provided under this Agreement shall in no way alter or affect the terms and
conditions of any Spinco sponsored or maintained qualified employee benefit plans,
non-qualified employee benefits plans, programs, and welfare benefit plans in which you
may otherwise be eligible to participate, and your eligibility to participate in any such
plans or programs will be determined in accordance with the terms and conditions of such
plans or programs, as they may be amended from time to time.
	 
	 	 	 	At this time, the compensation and benefit plans, programs and arrangements to be offered
to employees of Spinco have not been finalized. It is anticipated that Spinco will offer
its employees the benefit plans or programs described in the document titled “Benefits at
a Glance,” attached to this Agreement, but these arrangements are subject to change.
	 
	 	 	 	You also may be eligible for relocation benefits, including home buyout, as described in
the attached Relocation Benefits Summary. These relocation benefits will be initiated
after you have officially accepted the position and have fulfilled all requirements and
received all required approvals to participate in such program, including execution of
any required documents.

	 	(b)	 	Continuing Entergy System Eligibility.
	 
	 	 	 	If you satisfy the conditions set forth above and become employed by Spinco under this
Agreement, then it is anticipated that you shall continue to be eligible for certain
Entergy System benefits under their terms and conditions, subject to required approvals,
as described in the attached “Benefits at a Glance” subject, again, to any changes that
may be made to those benefits.

Attached to this Agreement is also an individualized Discussion Sheet to assist you in
understanding the compensation and benefit programs we anticipate being available to you.

	2.	 	Contingencies:

This Spinco offer of employment is contingent upon: (1) the actual legal formation of Spinco; (2)
the spin-off occurring on terms approved by the board of directors of Entergy Corporation; (3) your
formal acceptance of this offer within the time frame set forth below; and (4) you remaining
employed by, and in good standing with, an Entergy System Company, including the continuing
performance of your duties in a satisfactory manner (as determined by your Entergy System Company
employer in its sole discretion), until you become employed by Spinco. The date on which Spinco is
spun off from Entergy Corporation in a separate transaction (“Spin Date”) shall be your date of
hire with Spinco unless you are notified otherwise in writing (“Spinco Hire Date”). Until your
Spinco Hire Date, the terms and conditions of your current at-will Entergy System Company
employment will remain in effect, although you may be transferred to a new department within the
Entergy System and/or assigned additional duties associated with Spinco in the interim. As of the
Spinco Hire Date, your employment with the Entergy System Companies shall be deemed terminated.

Following your Spinco Hire Date, as a condition of maintaining your employment with Spinco, you
agree that you must: (1) within 3 days of your Spinco Hire Date, present suitable documentation
to Spinco of your identity and employment eligibility (I-9 INS certification); (2) obtain and
maintain authorization for unescorted access to a nuclear plant site to the extent the job you
are being offered requires such access; and (3) comply with any and all Spinco hiring and
employment policies, practices and procedures, including but not limited to, the execution of
any forms provided by Spinco in connection with same.

 

 

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Page 3 of 5

In the event the Spin Date does not occur after your acceptance of this conditional offer or if you
accept this conditional offer and then choose to rescind it for any reason prior to your Spinco
Hire Date, then to the extent practicable as determined by the Entergy System Companies in their
sole discretion, you will remain in the position in which you were employed at the time of your
acceptance of this offer, subject to all terms and conditions of your current at-will employment.
If your current position is no longer available for whatever reason, then you will be placed in a
position comparable to the one you were performing prior to the effective date of this Agreement to
the extent it is practicable to do so in the Entergy System Companies’ sole discretion and, if not,
continue through the Entergy Employee Commitment process beginning with a search for an available
position for which you are qualified.

	3.	 	Confidentiality and Work Product:

	 	(a)	 	Confidentiality. During your Entergy System Company employment and forever
thereafter, other than as authorized by an Entergy System Company or as required by law or
as necessary for you to perform your duties, you shall hold in a fiduciary capacity for
the benefit of the Entergy System and not disclose to any person or entity and not use for
any purposes or release or disclose to any person, any trade secrets or proprietary
information and materials (including, without limitation, all information concerning the
business transactions, financial arrangements, or marketing plans of any Entergy System
Company or otherwise acquired by you in conjunction with your Entergy System Company
employment, including, without limitation, any information which if released to third
persons would result in financial loss, loss of pecuniary advantage, or otherwise be
detrimental to the interests of any Entergy System Company (“Entergy Confidential
Information”)).
	 
	 	 	 	During your Spinco employment and forever thereafter, other than as authorized by Spinco or
as required by law or as necessary to perform your duties, you shall hold in a fiduciary
capacity for the benefit of Spinco and not disclose to any person or entity and not use for
any purposes or release or disclose to any person, any trade secrets or proprietary
information and materials (including, without limitation, any information which if released
to third persons would result in financial loss, loss of pecuniary advantage, or otherwise
be detrimental to the interests of Spinco or any person transacting business with Spinco
(“Spinco Confidential Information”)).
	 
	 	 	 	Notwithstanding the foregoing paragraphs, nothing in this Agreement shall be deemed to
prohibit or interfere with your right to: (i) make any disclosure of relevant and necessary
information in any action or proceeding relating to this Agreement, or as otherwise
required by law pursuant to a subpoena, court order or other legal process; or (ii)
participate, cooperate, or testify in any action, investigation or proceeding with, or
provide information to, any governmental agency or legislative body; provided that, to the
extent permitted by law, upon receipt of any such subpoena, court order or other legal
process compelling the disclosure of any Entergy Confidential Information or Spinco
Confidential Information, as applicable, you will give prompt written notice to the General
Counsel of Entergy Corporation, in the case of Entergy Confidential Information, or to the
General Counsel of Spinco, in the case of Spinco Confidential Information, so as to provide
the applicable company with an opportunity to protect its interests in confidentiality to
the fullest extent possible. In the event of any breach or threatened breach of the
confidentiality provisions of this Agreement, all unvested benefits or other payments
otherwise payable to you under this Agreement shall be cancelled and shall not vest or
otherwise be payable to you, and any Entergy System Company (in the case of Entergy
Confidential Information) or the Spinco (in the case of Spinco Confidential Information)
shall be entitled to an injunction, without bond, restraining you from violating the
confidentiality provisions of this Agreement in the future, in addition to any other relief
to which the affected company may be

 

 

April 10, 2008

Page 4 of 5

	 	 	 	entitled.

	 	(b)	 	Work Product. You agree to and hereby do assign to any Entergy System Company
employing you all your rights in and to all inventions, business plans, work models or
procedures, whether patentable or not, which are made or conceived solely or jointly by
you at any time during your employment with any Entergy System Company or with the use of
any Entergy System Company time and materials. You will disclose to such Entergy System
Company all facts known to you concerning such matters and, at the Entergy System
Company’s expense, do everything reasonably practicable to aid it in obtaining and
enforcing proper legal protection for, and vesting Entergy System Company in title to,
such matters.

	4.	 	Additional Terms:

	 	(a)	 	At-Will Employment. Your employment with Spinco shall be at-will at all
times, as it is
currently with your Entergy System Company employer. This means that both you and Spinco
shall always have the right to terminate your employment with Spinco at any time for any
reason,
with or without notice or cause. Your at-will status may only be modified by a signed
agreement
between you and an authorized representative of Spinco. Nothing in this Agreement shall
be
construed as a contract or guarantee of continued employment with either an Entergy System
Company or Spinco for any length of time.
	 
	 	(b)	 	Employment Files. In connection with your employment at Spinco, you agree
to, and hereby
authorize, the disclosure and transfer of all of your personnel, medical, benefits and
other
employment-related files and information from your Entergy System Company to Spinco upon
your Spinco Hire Date. Among other things, such transfer of your files or information may
be
necessary to ensure you receive appropriate service credits or meet other benefit
eligibility
requirements. You agree to execute any lawful and reasonable authorizations requested by
Spinco or any Entergy System Company to effectuate such transfers.
	 
	 	(c)	 	Amendment. This Agreement contains the entire understanding regarding your
contemplated
employment with Spinco. No provision of this Agreement may be modified, amended or waived
except in a writing signed by both parties.
	 
	 	(d)	 	No Subsequent Waiver. The waiver by either party of a breach of any
provision of this
Agreement shall not operate to waive any subsequent breach of the Agreement.
	 
	 	(e)	 	Applicable Law. The Agreement shall be interpreted and enforced in accordance
with the laws
of the State of Delaware, without regard to its principles of conflicts of laws.
	 
	 	(f)	 	Severability. Should any part of this Agreement be found to be invalid or in
violation of law, such part shall be of no force and effect, and the rest of this
Agreement shall survive as valid and enforceable to the fullest extent permitted by law.
	 
	 	(g)	 	Acknowledgement. By signing the Agreement in the space provided below, you are
acknowledging that you have read and understand all of the terms of this Agreement and are
entering into this Agreement voluntarily.

	5.	 	Timing of Conditional Offer and Acceptance:

 

 

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The conditional offer of employment contemplated by this Agreement will remain outstanding until
April 18, 2008. You will be deemed to have rejected the offer if we do not receive your
signed acceptance by the indicated date.

Please indicate your response to this offer by checking the appropriate box below and returning
the signed and dated Agreement to Ramona Kudla. You may fax your signed Agreement to 504-576-5796,
and a facsimile will have the same effect as the original.

Please do not hesitate to call should you have any questions or need any assistance.

	 	 	 
	/s/ Richard J. Smith
 

SIGNATURE OF Richard J. Smith

	 	 
	Authorized Agent of Entergy Services, Inc. 
	 	 
	CEO Designee of Spinco
	 	 

RESPONSE OF JOHN MCGAHA TO CONDITIONAL OFFER OF EMPLOYMENT

	 	þ	 	I understand and accept the conditional offer of Spinco employment
subject to the attached clarifications.
	 
	 	o	 	I reject the conditional offer of Spinco employment.

	 	 	 	 	 
	/s/ John McGaha
 

SIGNATURE of John McGaha

	 	04/17/08
 

DATE
	 	 
	 
	 	 	 	 
	Enclosuresexv10w12

Exhibit 10.12

Entergy Services, Inc.

639 Loyola Avenue

New Orleans, LA 70113

May 22, 2008

Carolyn C. Shanks

308 East Pearl Street, Apt. 1001

Jackson, MS 39201

Re: Conditional Offer of Enexus Employment

Dear Carolyn:

In furtherance of our discussions, this letter agreement sets forth the terms and conditions of
our conditional offer of employment with the new legal entity expected to be established in 2008
to own the non-utility nuclear business contemplated to be spun off from Entergy Corporation in a
separate transaction. For purposes of this Agreement, the new legal entity shall be referred to as
“Enexus.” Provided Enexus has been legally formed, the spin-off occurs, and you have met all of
the terms and conditions for employment with Enexus as set forth below, your new full-time
position is contemplated to be Senior Vice President, Administration & Corporate Support (CAO),
reporting to Richard J. Smith, with your job location in Jackson, MS. The details of employment
under this agreement (the “Agreement”) are set forth below and shall supersede any other oral or
written employment offers, representations, agreements or communications related to current or
future Enexus employment that you may have received from, or entered into with, Entergy Services,
Inc. (“ESI”), or any other affiliate or subsidiary of Entergy Corporation (collectively, the
“Entergy System,” and each an “Entergy System Company”) prior to the execution of this Agreement,
which prior offers, representations, agreements or communications you acknowledge are without
effect. The date upon which you execute this Agreement indicating your acceptance of the
conditional offer of employment with Enexus shall be the effective date of the Agreement. We are
excited to offer you this opportunity and feel that you can add tremendous value to the Enexus
team being assembled.

1. Compensation and Benefits:

If the contingencies set forth below are met, and you become employed by Enexus under this
Agreement, your employment shall be at-will, and your compensation, benefits and incentive package
is anticipated to be as follows, subject to required approvals:

	 	(a)	 	The Enexus Offer.

(i) Salary. Your bi-weekly rate of pay at Enexus shall be THIRTEEN THOUSAND FOUR HUNDRED
SIXTY-ONE AND 54/100 ($13,461.54) DOLLARS or such amount as may be approved from time to
time by Enexus, in its sole discretion, while you are employed in accordance with this
Agreement (subject to all appropriate withholdings or other deductions required by law or
by Enexus’s established policies), such salary to be payable in accordance with Enexus’s
payroll practices. To the fullest extent permitted by law, Enexus shall have the right to
require you to remit to it, or to withhold from other amounts payable to you, as
compensation or otherwise, an amount sufficient to satisfy all federal, state and local tax
withholding requirements.

(ii) Benefits. You may participate in all Enexus qualified employee benefit plans, welfare
benefit plans and programs for which you are eligible, in accordance with the terms and
conditions of such plans and programs as in effect and as they may be amended from time to
time. Your participation in some or all of these plans may be contingent upon your execution
of, and the

 

 

May 22, 2008

Page 2 of 5

acceptance by the plan’s administrator of, a participation agreement, and upon your
satisfaction of other terms and conditions. Except as specifically set forth herein, the
benefits provided under this Agreement shall in no way alter or affect the terms and
conditions of any Enexus sponsored or maintained qualified employee benefit plans,
non-qualified employee benefits plans, programs, and welfare benefit plans in which you may
otherwise be eligible to participate, and your eligibility to participate in any such plans
or programs will be determined in accordance with the terms and conditions of such plans or
programs, as they may be amended from time to time.

At this time, the compensation and benefit plans, programs and arrangements to be offered
to employees of Enexus have not been finalized. It is anticipated that Enexus will offer
its employees the benefit plans or programs described in the document titled “Benefits at
a Glance,” attached to this Agreement, but these arrangements are subject to change.

You also may be eligible for relocation benefits, including home buyout, as described in
the attached Relocation Benefits Summary. These relocation benefits will be initiated
after you have officially accepted the position and have fulfilled all requirements and
received all required approvals to participate in such program, including execution of any
required documents.

	 	(b)	 	Continuing Entergy System Eligibility.

If you satisfy the conditions set forth above and become employed by Enexus under this
Agreement, then it is anticipated that you shall continue to be eligible for certain
Entergy System benefits under their terms and conditions, subject to required approvals,
as described in the attached “Benefits at a Glance” subject, again, to any changes that
may be made to those benefits.

Attached to this Agreement is also an individualized Discussion Sheet to assist you in
understanding the compensation and benefit programs we anticipate
being available to you.

2. Contingencies:

This Enexus offer of employment is contingent upon: (1) the actual legal formation of Enexus; (2)
the spin-off occurring on terms approved by the board of directors of Entergy Corporation; (3)
your formal acceptance of this offer within the time frame set forth below; and (4) you remaining
employed by, and in good standing with, an Entergy System Company, including the continuing
performance of your duties in a satisfactory manner (as determined by your Entergy System Company
employer in its sole discretion), until you become employed by Enexus. The date on which Enexus is
spun off from Entergy Corporation in a separate transaction (“Spin Date”) shall be your date of
hire with Enexus unless you are notified otherwise in writing (“Enexus Hire Date”). Until your
Enexus Hire Date, the terms and conditions of your current at-will Entergy System Company
employment will remain in effect, although you may be transferred to a new department within the
Entergy System and/or assigned additional duties associated with Enexus in the interim. As of the
Enexus Hire Date, your employment with the Entergy System Companies shall be deemed terminated.

Following your Enexus Hire Date, as a condition of maintaining your employment with Enexus, you
agree that you must: (1) within 3 days of your Enexus Hire Date, present suitable documentation to
Enexus of your identity and employment eligibility (1-9 INS certification); (2) obtain and
maintain authorization for unescorted access to a nuclear plant site to the extent the job you are
being offered requires such access; and (3) comply with any and all Enexus hiring and employment
policies, practices and procedures, including but not limited to, the execution of any forms
provided by Enexus in connection with same.

 

 

May 22, 2008

Page 3 of 5

In the event the Spin Date does not occur after your acceptance of this conditional offer or if you
accept this conditional offer and then choose to rescind it for any reason prior to your Enexus
Hire Date, then to the extent practicable as determined by the Entergy System Companies in their
sole discretion, you will remain in the position in which you were employed at the time of your
acceptance of this offer, subject to all terms and conditions of your current at-will employment.
If your current position is no longer available for whatever reason, then you will be placed in a
position comparable to the one you were performing prior to the effective date of this Agreement to
the extent it is practicable to do so in the Entergy System Companies’ sole discretion and, if not,
continue through the Entergy Employee Commitment process beginning with a search for an available
position for which you are qualified.

3. Confidentiality and Work Product:

	 	(a)	 	Confidentiality. During your Entergy System Company employment and forever
thereafter, other than as authorized by an Entergy System Company or as required by law
or as necessary for you to perform your duties, you shall hold in a fiduciary capacity
for the benefit of the Entergy System and not disclose to any person or entity and not
use for any purposes or release or disclose to any person, any trade secrets or
proprietary information and materials (including, without limitation, all information
concerning the business transactions, financial arrangements, or marketing plans of any
Entergy System Company or otherwise acquired by you in conjunction
with your Entergy
System Company employment, including, without limitation, any information which if
released to third persons would result in financial loss, loss of pecuniary advantage, or
otherwise be detrimental to the interests of any Entergy System Company (“Entergy
Confidential Information”)).
	 
	 	 	 	During your Enexus employment and forever thereafter, other than as authorized by Enexus or
as required by law or as necessary to perform your duties, you shall hold in a fiduciary
capacity for the benefit of Enexus and not disclose to any person or entity and not use for
any purposes or release or disclose to any person, any trade secrets or proprietary
information and materials (including, without limitation, any information which if released
to third persons would result in financial loss, loss of pecuniary advantage, or otherwise
be detrimental to the interests of Enexus or any person transacting business with Enexus
(“Enexus Confidential Information”)).
	 
	 	 	 	Notwithstanding the foregoing paragraphs, nothing in this Agreement shall be deemed to
prohibit or interfere with your right to: (i) make any disclosure of relevant and necessary
information in any action or proceeding relating to this Agreement, or as otherwise
required by law pursuant to a subpoena, court order or other legal process; or (ii)
participate, cooperate, or testify in any action, investigation or proceeding with, or
provide information to, any governmental agency or legislative body; provided that, to the
extent permitted by law, upon receipt of any such subpoena, court order or other legal
process compelling the disclosure of any Entergy Confidential Information or Enexus
Confidential Information, as applicable, you will give prompt written notice to the General
Counsel of Entergy Corporation, in the case of Entergy Confidential Information, or to the
General Counsel of Enexus, in the case of Enexus Confidential Information, so as to provide
the applicable company with an opportunity to protect its interests in confidentiality to
the fullest extent possible. In the event of any breach or threatened breach of the
confidentiality provisions of this Agreement, all unvested benefits or other payments
otherwise payable to you under this Agreement shall be cancelled and shall not vest or
otherwise be payable to you, and any Entergy System Company (in the case of Entergy
Confidential Information) or the Enexus (in the case of Enexus Confidential Information)
shall be entitled to an injunction, without bond, restraining you from violating the
confidentiality provisions of this Agreement in the future, in addition to any other relief
to which the affected company may be 

 

 

May 22, 2008

Page 4 of 5

	 	 	 	 entitled.
	 
	 	(b)	 	Work Product. You agree to and hereby do assign to any Entergy System Company
employing you all your rights in and to all inventions, business plans, work models or
procedures, whether patcntable or not, which are made or conceived solely or jointly by
you at any time during your employment with any Entergy System Company or with the use of
any Entergy System Company time and materials. You will disclose to such Entergy System
Company all facts known to you concerning such matters and, at the Entergy System
Company’s expense, do everything reasonably practicable to aid it in obtaining and
enforcing proper legal protection for, and vesting Entergy System Company in title to,
such matters.

4. Additional Terms:

	 	(a)	 	At-Will Employment. Your employment with Enexus shall be at-will at all
times, as it is
currently with your Entergy System Company employer. This means that both you and Enexus
shall always have the right to terminate your employment with Enexus at any time for any
reason,
with or without notice or cause. Your at-will status may only be modified by a signed
agreement
between you and an authorized representative of Enexus. Nothing in this Agreement shall
be
construed as a contract or guarantee of continued employment with either an Entergy System
Company or Enexus for any length of time.

	 	(b)	 	Employment Files. In connection with your employment at Enexus, you agree
to, and hereby
authorize, the disclosure and transfer of all of your personnel, medical, benefits and
other
employment-related files and information from your Entergy System Company to Enexus upon
your Enexus Hire Date. Among other things, such transfer of your files or information may
be
necessary to ensure you receive appropriate service credits or meet other benefit
eligibility
requirements. You agree to execute any lawful and reasonable authorizations requested by
Enexus or any Entergy System Company to effectuate such transfers.
	 
	 	(c)	 	Amendment. This Agreement contains the entire understanding regarding your
contemplated
employment with Enexus. No provision of this Agreement may be modified, amended or waived
except in a writing signed by both parties.
	 
	 	(d)	 	No Subsequent Waiver. The waiver by either party of a breach of any
provision of this
Agreement shall not operate to waive any subsequent breach of the Agreement.
	 
	 	(e)	 	Applicable Law. The Agreement shall be interpreted and enforced in
accordance with the laws
of the State of Delaware, without regard to its principles of conflicts of laws.
	 
	 	(f)	 	Severability. Should any part of this Agreement be found to be invalid or
in violation of law,
such part shall be of no force and effect, and the rest of this Agreement shall survive as
valid and
enforceable to the fullest extent permitted by law.
	 
	 	(g)	 	Acknowledgement. By signing the Agreement in the space provided
below, you are
acknowledging that you have read and understand all of the terms of this Agreement and are
entering into this Agreement voluntarily.

5. Timing of Conditional Offer and Acceptance:

 

 

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Page 5 of 5

The conditional offer of employment contemplated by this Agreement will remain outstanding until
May 29, 2008. You will be deemed to have rejected the offer if we do not receive your
signed acceptance by the indicated date.

Please indicate your response to this offer by checking the appropriate box below and returning
the signed and dated Agreement to Ramona Kudla. You may fax your signed Agreement to 504-576-5796,
and a facsimile will have the same effect as the original.

Please do not hesitate to call should you have any questions or need any assistance.

	 	 	 
	/s/ Richard J. Smith
	 	 
	 

SIGNATURE OF Richard J. Smith

	 	 
	Authorized Agent of Entergy Services, Inc. 
	 	 
	CEO Designee of Enexus
	 	 

RESPONSE OF Carolyn C. Shanks TO CONDITIONAL OFFER OF EMPLOYMENT

þ     I understand and accept the conditional offer of Enexus employment.

o     I reject the conditional offer of Enexus employment.

	 	 	 	 	 	 	 	 	 
	/s/ Carolyn C. Shanks

	 	 	 	 	5.27.08	 	 	 
	 

SIGNATURE of Carolyn C. Shanks

	 	 	 	 

DATE

	 	 

Enclosures:

Discussion Sheet

Benefits at a Glance

Relocation Benefits Summary

 

 

Employee Name     Carolyn Shanks 

Effective Date: {TBD}

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	ITEM	 	CURRENT	 	Recommended	 	Incremental Value	 
	Company

	 	Entergy
	 	Enexus
	 	 	 	 	 
	Title

	 	President & CEO, Entergy MS
	 	  SVP, Admin & Corp Support (CAO)
	 	 	 	 	 
	Base Salary

	 	$317,140	 	$350,000	 	$32,860	10%
	MRV

	 	$284,000	 	$375,000	 	 	 	 	 
	Percent to MRV

	 	112%	 	93%	 	 	 	 	 
	Target Annual Incentive

	 	50%	 	60%	 	$51,430	 
	RL

	 	R36
	 	R48	 	 	 	 	 
	ML

	 	4	 	3	 	 	 	 	 
	Target Stock Options*

	 	5,200	 	9,600	 	$66,308	 
	Target LTIP

	 	700	 	1,400	 	$83,748	 
	Signing Bonus

	 	N/A	 	No
	 	 	 	 	 
	Up Front Restricted Units

	 	1,200	 	3,000	 	$216,000	 
	Nuclear Retention Plan

	 	No
	 	No
	 	 	 	 	 
	Perquisites

	 	Yes
	 	Yes
	 	Financial Planning & Physical
	 
	Relocation

	 	N/A	 	No
	 	Jackson Location
	 
	Pension & OPEB

	 	Yes
	 	N/A	 	Access to both programs as per transition framework
	 
	SERP

	 	Yes
	 	N/A	 	Offer transition qualified & non qualified pension model
	 
	SRP

	 	No
	 	N/A	 	 	 	 	 

 

			
	*	 	Reflects ETR 2008 Compensation Model. SpinCo compensation package
to be translated to comparable SpinCo model Stock option value of
$15.07 and LTIP value of 120

	 	 	 	 	 	 	 	 
	Approved:
	 	Total Incremental Increase (base + annual + options + LTIP) =	 	$450,346	 
	 
	 	 	 	 	 	 	 
	1st level /Date
	 	Current Total Target Comp (base + annual + options + LTIP) =	 	$637,822	 
	 
	 	 	 	 	 	 	 
	 
	 	Proposed Total Target Comp (base + annual + options + LTIP) =	 	$872,168	 
	 
	 	 	 	 	 	 	 
	2nd level/Date
	 	Percent Increase =	 	37	%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}]]