Exhibit 10.30
NAMED EXECUTIVE OFFICER
COMPENSATION DETERMINATIONS
2009 Named Executive Officer
Compensation Determinations
The following
is a description of certain compensation decisions made on January
22, 2009, and, in the case of Anthony J. Kamerick, on February
26, 2009, in connection with his promotion to Senior Vice President
and Chief Regulatory Officer, by the Pepco Holdings, Inc.
(“PHI”) Board of Directors or the Compensation/Human
Resources Committee (the “Committee”) thereof with
respect to the compensation payable to the PHI executive officers
identified below, each of whom is an executive officer listed in
the Summary Compensation Table included in PHI’s proxy
statement for its 2008 Annual Meeting (a “Named Executive
Officer”). As to each executive officer listed
below, the decisions consisted of (i) the establishment of
base salary for 2009, (ii) the establishment of the
executive’s 2009 annual bonus opportunity and (iii) the
establishment of the executive’s award opportunities for the
period 2009-2011 pursuant to the Performance Stock Program and
Restricted Stock Program under the Pepco Holdings, Inc. Long-Term
Incentive Plan (the “LTIP”).
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2009 Long-Term
Incentive Plan Awards
(2)
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Name
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Title
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2009 Base Salary
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Target 2009 Annual Bonus
Opportunity as a Percentage of Base Salary (1)
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Performance Stock Program Award
Opportunity (# of shares) (3)
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Restricted Stock Program Award (#
of shares) (4)
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Dennis R.
Wraase
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$
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1,076,000
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0%
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Target
Maximum
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0
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Joseph M.
Rigby
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President and Chief Executive Officer
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$
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820,000
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100%
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Target
Maximum
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29,277
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Paul H.
Barry
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Senior Vice President and Chief Financial
Officer
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$
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518,000
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60%
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Target
Maximum
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9,791
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William T.
Torgerson
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Vice Chairman and Chief Legal Officer
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$
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558,000
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60%
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Target
Maximum
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10,547
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Anthony J.
Kamerick
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Senior Vice President and Chief Regulatory
Officer
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$
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320,000
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50%
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Target
Maximum
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3,999
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An executive
can earn from 0 to 180% of this percentage of his base salary as a
cash bonus depending on the extent to which the preestablished
performance goals are achieved. See “Executive Incentive
Compensation Plan” below for 2009 performance
goals.
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The market
value of the PHI common stock, $.01 par value (“Common
Stock”) (determined based on the average of the high and low
Common Stock price as traded on the New York Stock Exchange on
December 31, 2008), r
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