SUMMARY OF KEY TERMS OF COMPENSATION ARRANGEMENTS WITH MIDAMERICAN ENERGY HOLDINGS COMPANY NAMED EXECUTIVE OFFICERS AND DIRECTORS

EXHIBIT 10.14

SUMMARY OF KEY TERMS OF COMPENSATION ARRANGEMENTS

 WITH MIDAMERICAN ENERGY HOLDINGS COMPANY

 NAMED EXECUTIVE OFFICERS AND DIRECTORS

MidAmerican Energy Holdings Company’s (“MEHC”) 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 MEHC’s Annual Report on Form 10-K.

The named executive officers are also eligible to receive a cash incentive award under MEHC’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. Mess