This excerpt taken from the FE DEF 14A filed Apr 1, 2009.
This excerpt taken from the FE DEF 14A filed Apr 1, 2008.
The NEOs are provided benefits as follows:
Mr. Grigg was hired in 2004 and was not eligible for retirement in 2007 as he did not meet the service requirement.
In lieu of the SERP, Mr. Leidich is entitled to a lump sum benefit upon termination of employment for any reason. The benefit is payable based on the terms defined by the Severance and Employment Agreement dated July 1, 1996, between Mr. Leidich and Centerior Energy Corporation. The maximum value of $1,095,889 will be payable at age 62. If Mr. Leidich terminates his employment prior to age 62, he will receive a reduced benefit ($825,455 plus gross up on December 31, 2007).
Based on the terms of Mr. Grigg's employment agreement, his spouse shall receive the maximum points for the purposes of determining the Company contribution toward the cost of retiree spousal health coverage. Amount shown is calculated based on the assumptions used for financial reporting purposes under generally accepted accounting principles.
This excerpt taken from the FE DEF 14A filed Apr 2, 2007.
2.14 Disability means, as of any date, a Participants qualification for, and receipt of, benefits under the Companys then-existing long-term disability plan or program.