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This excerpt taken from the PCG 10-Q filed Nov 6, 2008. Resignation. Effective
August 31, 2008 (the �Resignation Date�), the Executive hereby resigns from his
positions as Chief Executive Officer and President and a member of the Board of
Directors of the Company, and resigns from employment with the Company and from
each other position he holds with any of its affiliates, including as a director
of any such entity. Promptly after his Resignation Date, he will be
paid all salary or wages and vacation accrued, unpaid and owed to him as of the
Resignation Date, he will remain entitled to any other benefits to which he is
otherwise entitled as of the Resignation Date under the provisions of the
Company�s plans and programs, and he will receive notice of the right to
continue his existing health-insurance coverage pursuant to
COBRA. The Executive shall make a diligent search for, and deliver to
the Company, by the Resignation Date (i) any document, materials, files or
computer files, or copies, reproductions, duplicates, transcriptions or replicas
thereof relating to the Company�s business or affairs or belonging to the
Company or any of its affiliates, which are in his possession or control and
(ii) all other Company property (including, without limitation, laptop computer,
blackberry, identification cards, security access cards, etc.), which are in his
possession or control.
The
continuation of wages and other compensation set forth in paragraph 2 below is
conditioned upon the Executive�s acceptance of this Agreement.
2. Continued pay and service
credit. To induce the Executive to resign as of the
Resignation Date and for other consideration set forth herein, the Company will
provide to the Executive, or his estate, the following compensation benefits
conditioned upon the occurrence of the Effective Date of this Agreement as set
forth in paragraph 18(a) below:
a. This excerpt taken from the PCG 10-Q filed May 6, 2008. Resignation. Effective
the close of business on March 5, 2008 (for purposes of this Agreement, the
“Date of Resignation”), Mr. Powell will resign from his positions as Vice
President, Chief Financial Officer and Controller of Pacific Gas and Electric
Company and Vice President and Controller of PG&E Corporation, and resign
from employment with the Corporation. Mr. Powell shall have until
March 26, 2008, to accept this Agreement by submitting a signed copy to the
Corporation. Regardless of whether Mr. Powell accepts this Agreement,
on his Date of Resignation, he will be paid all salary or wages and vacation
accrued, unpaid and owed to him as of that date, he will remain entitled to any
other benefits to which he is otherwise entitled under the provisions of the
Corporation’s plans and programs, and he will receive notice of the right to
continue his existing health-insurance coverage pursuant to COBRA.
The
benefits set forth in paragraph 2 below are conditioned upon Mr. Powell’s
acceptance of this Agreement.
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