SEC Contract Filing

Filing Date: 2020-02-28

Document Content:
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<TYPE>EX-10.33
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<FILENAME>d854390dex1033.htm
<DESCRIPTION>EX-10.33
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXHIBIT 10.33 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DOMINION ENERGY, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2020 PERFORMANCE GRANT PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.</B> <B>Purpose.</B><B> </B>The purpose of the 2020 Performance Grant Plan (the &#147;Plan&#148;) is to set forth the terms of 2020
Performance Grants (&#147;Performance Grants&#148;) awarded by Dominion Energy, Inc., a Virginia corporation (the &#147;Company&#148;). This Plan contains the performance goals for the awards, the performance criteria, the target and maximum amounts
payable, and other applicable terms and conditions. Capitalized terms not otherwise defined herein shall have the meanings given them in the Company&#146;s 2014 Incentive Compensation Plan, as amended. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2. Definitions. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">a. <U>Beneficiary</U>. Means the individual, individuals, entity, entities or the estate of a Participant entitled to receive
the amounts payable under a Performance Grant, if any, upon the Participant&#146;s death. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">b. <U>Cause</U>. For purposes of
this Plan, the term &#147;Cause&#148; will have the meaning assigned to that term under a Participant&#146;s Employment Continuity Agreement with the Company, as such Agreement may be amended from time to time. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">c. <U>Committee</U>. Means the Compensation, Governance and Nominating Committee of the board of directors of the Company (or
any successor board committee designated by the board of directors of the Company to administer this Plan). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">d. <U>Company
Pension Plan</U>. Means the applicable pension plan of the Company or its subsidiaries, if any, in which the Participant is eligible to participate as of the Date of Grant, which may include either the Dominion Energy Pension Plan or the SCANA
Corporation Retirement Plan or any successor thereto, but excluding the cash balance portion of any such plan. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">e. <U>Date
of Grant</U>. February&nbsp;1, 2020. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">f. <U>Disability or Disabled</U>. Means a &#147;disability&#148; as defined under
Treasury Regulation <FONT STYLE="white-space:nowrap">Section&nbsp;1.409A-3(i)(4).</FONT> The Committee will determine whether or not a Disability exists and its determination will be conclusive and binding on the Participant. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">g. <U>Participant</U>. An officer of the Company or a Dominion Company who receives a Performance Grant on the Date of Grant.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">h. <U>Performance Period</U>. The <FONT STYLE="white-space:nowrap">36-month</FONT> period beginning on January&nbsp;1,
2020 and ending on December&nbsp;31, 2022. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">i. <U>Retire or Retirement</U>. For purposes of this Plan, the term Retire or
Retirement means a voluntary termination of employment on a date when the Participant is eligible for early or normal retirement benefits under the terms of the Company Pension Plan, or would be eligible if any crediting of deemed additional years
of age or service </P>
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applicable to the Participant under a supplemental retirement plan of the Company was applied under the Company Pension Plan, as in effect at the time of the determination, or, for a Participant
who is not eligible to participate in a Company Pension Plan, a voluntary termination of employment on or after age 55, unless (in each case) the Company&#146;s Chief Executive Officer in his sole discretion (or, if the Participant is the
Company&#146;s Chief Executive Officer, the Committee in its sole discretion) determines that the Participant&#146;s retirement is detrimental to the Company. Notwithstanding the foregoing, with respect to the Chief Executive Officer&#146;s
Performance Grant, if the Chief Executive Officer continues to provide substantial services to the Company as a member of the Board or otherwise after a termination of emplo