EDE » Topics » Compensation Discussion and Analysis

This excerpt taken from the EDE DEF 14A filed Mar 10, 2008.

Compensation Discussion and Analysis

        Our executive compensation program is administered by the Compensation Committee of the Board of Directors. The Compensation Committee and the Board of Directors work together to establish and oversee director and executive officer compensation policies and practices, review and approve executive officer goals and objectives, evaluate executive officer performance, and determine compensation levels. The Compensation Committee is composed entirely of non-employee, independent directors who are appointed by and serve at the sole discretion of the Board of Directors. The Compensation Committee meets at scheduled times during the year and on an as-needed basis.

        The President and CEO attends Compensation Committee meetings, including the meeting where the Compensation Committee deliberates base salary changes and annual metrics and performance measures for the executive officers. His role at these meetings is to review performance, make recommendations, and answer questions Compensation Committee members may have before they establish base salary levels and annual metrics and performance measures for the coming year. The President and CEO does not directly participate in the deliberations of the Compensation Committee and he is not present during the Compensation Committee's deliberations with respect to his compensation.

        The Compensation Committee has retained the services of the Hay Group, an independent consulting firm (compensation consultant), to provide information regarding practices and trends in compensation programs in the utility industry as well as the national market, and to review and evaluate our compensation program as compared to compensation practices of other companies with similar characteristics, including size and type of business.

This excerpt taken from the EDE DEF 14A filed Mar 16, 2007.

Compensation Discussion and Analysis

Our executive compensation program is administered by the Compensation Committee of the Board of Directors. The Compensation Committee and the Board of Directors work together to establish and oversee director and executive officer compensation policies and practices, review and approve executive officer goals and objectives, evaluate executive officer performance, and determine compensation levels. The Compensation Committee is composed entirely of non-employee, independent directors who are appointed by and serve at the sole discretion of the Board of Directors. The Compensation Committee meets at scheduled times during the year and on an as-needed basis.

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