SEC Contract Filing

Filing Date: 2017-02-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.13
<SEQUENCE>8
<FILENAME>bhe123116ex1013.htm
<DESCRIPTION>BHE SUMMARY OF KEY TERMS OF COMPENSATION ARRANGEMENTS
<TEXT>
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<div><a name="s0A6F0DDA882B554D918ABC96415416F8"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;"><hr></div><div style="line-height:120%;padding-top:16px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBIT 10.13</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SUMMARY OF KEY TERMS OF COMPENSATION ARRANGEMENTS</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;WITH </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BERKSHIRE HATHAWAY ENERGY COMPANY</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;NAMED EXECUTIVE OFFICERS AND DIRECTORS</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Berkshire Hathaway Energy Company</font><font style="font-family:inherit;font-size:10pt;">'s ("</font><font style="font-family:inherit;font-size:10pt;">BHE</font><font style="font-family:inherit;font-size:10pt;">") continuing named executive officers each receive an annual salary and participate in health insurance and other benefit plans on the same basis as other employees, as well as certain other compensation and benefit plans described in </font><font style="font-family:inherit;font-size:10pt;">BHE</font><font style="font-family:inherit;font-size:10pt;">'s Annual Report on Form 10-K. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The named executive officers are also eligible to receive a cash incentive award under </font><font style="font-family:inherit;font-size:10pt;">BHE</font><font style="font-family:inherit;font-size:10pt;">'s Performance Incentive Plan ("PIP"). The PIP provides for a discretionary annual cash award that is determined on a subjective basis and paid in December. In addition to the PIP, the named executive officers are eligible to receive discretionary cash performance awards periodically during the year to reward the accomplishment of significant non-recurring tasks or projects. Mr. Gregory E. Abel has not been granted discretionary cash performance awards in the past five years. Mr. Patrick J. Goodman and Ms. Natalie L. Hocken are participants in </font><font style="font-family:inherit;font-size:10pt;">BHE</font><font style="font-family:inherit;font-size:10pt;">'s Long-Term Incentive Partnership Plan ("LTIP"). Mr. Abel does not participate in the LTIP. A copy of the LTIP is incorporated by reference to Exhibit 10.9 to </font><font style="font-family:inherit;font-size:10pt;">BHE</font><font style="font-family:inherit;font-size:10pt;">'s Annual Report on Form 10-K for the year ended December&#160;31, 2014.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Base salary for continuing named executive officers for </font><font style="font-family:inherit;font-size:10pt;">BHE</font><font style="font-family:inherit;font-size:10pt;">'s fiscal year ending December 31, </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, is shown in the following table:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:71.09375%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:77%;"></td><td style="width:1%;"></td><td style="width:21%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Name and Title</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Base Salary</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;paddi