This excerpt taken from the PCG 10-Q filed May 6, 2008.
Severance payment. Under the terms of the PG&E Corporation Officer Severance Policy, Mr. Powell’s severance payment amount is Six Hundred Sixty-Seven Thousand Seven Hundred Twenty-Five Dollars ($667,725) of which Sixty-Two Thousand Six Hundred Twenty-Eight Dollars ($62,628) will be converted into additional age to age 55 under the PG&E Corporation Supplemental Executive Retirement Plan. As a result, Mr. Powell will be entitled to receive an annual defined supplemental pension benefit as a single life annuity of Six Hundred Twenty-Six Dollars and Eighty-Six Cents ($626.86) beginning on the first of October 2008. On the Effective Date of this Agreement as set forth in paragraph 17(a) below, the Corporation will make a lump-sum payment to Mr. Powell in the gross amount of Six Hundred Five Thousand Ninety-Seven Dollars ($605,097), less applicable withholdings and deductions.