WWW.THESIS.DISLIB.INFO
FREE ELECTRONIC LIBRARY - Online materials, documents
 
<< HOME
CONTACTS



Pages:     | 1 |   ...   | 22 | 23 || 25 |

«Commission Exact name of registrant as specified in its charter; IRS Employer File Number State or other jurisdiction of incorporation or ...»

-- [ Page 24 ] --

Potential Payments Upon Termination Our NEOs, other than Mr. Abel, are not entitled to severance or enhanced benefits upon termination of employment or change in control. Please refer to MEHC's Annual Report on Form 10-K for the year ended December 31, 2013 (File No. for information about potential post-termination payments to Mr. Abel.

The following table sets forth the estimated enhancements to payments pursuant to the termination scenarios indicated. Payments or benefits that are not enhanced in form or amount upon the occurrence of a particular termination scenario, which include 401 (k) and nonqualified deferred compensation account balances and those portions of long-term incentive payments that would have otherwise been paid, are not included herein. All estimated payments reflected in the table below assume termination on December 31, 2013, and are payable as lump sums unless otherwise noted.

–  –  –

(1) Amounts represent the unvested portion of each NEO's LTIP account, which becomes 100% vested upon death or disability. For Mr. Dunn, this represents his unvested portion for service as a PacifiCorp employee only and does not include any additional vesting of awards granted while not employed by us.

(2) Pension values represent the excess of the present value of benefits payable under each termination scenario over the amount already reflected in the Pension Benefits table.

(3) Mr. Walje has already met the retirement criteria, therefore his termination and death scenarios under the Retirement Plan are based on assuming 50% lump sum payout and 50% annuity. The SERP termination scenario calculations are based on single life annuity.

Director Compensation Table All of our directors serving in 2013 were employees of PacifiCorp, or in the case of Messrs. Anderson and Goodman, employees of MEHC, and did not receive additional compensation for service as a director. The following table excludes Messrs. Abel, Walje, Reiten and Dunn for whom compensation information is described in the Summary Compensation Table. Please refer to MEHC's Annual Report on Form 10-K for the year ended December 31, 2013 (File No. 001-14881) for information about Messrs. Anderson and Goodman.

–  –  –

(1) Amounts are based upon the aggregate increase in the actuarial present value of all qualified and nonqualified defined benefit plans, which includes the Retirement Plan. Refer to the Pension Benefits table above for a discussion of the assumptions used in calculating these amounts. Ms. Hocken had a decrease in the actuarial present value of her defined benefit plan in the amount of $10,169; therefore no compensation is shown in the table. No participant in our nonqualified deferred compensation plans earned "above market" or "preferential" earnings on amounts deferred.

(2) Amounts shown for the year ended December 31, 2013 that are required to be quantified are as follows:

–  –  –

(iv) Annual cash incentive awards earned pursuant to the AIP for our directors, the vesting of LTIP awards and associated vested earnings for

Mr. Gale, Ms. Hocken and Mr. Moench. The breakout of AIP and LTIP awards for 2013 is as follows:

–  –  –

(3) Mr. Moench retired as a director and employee of PacifiCorp effective February 2014.

Compensation Committee Interlocks and Insider Participation Mr. Abel is our Chairman and CEO and also the Chairman, President and Chief Executive Officer of MEHC. None of our executive officers serves as a member of the compensation committee of any company that has an executive officer serving as a member of our Board of Directors. None of our executive officers serves as a member of the board of directors of any company (other than MEHC) that has an executive officer serving as a member of our compensation committee. See also Item 13 of this Annual Report on Form 10-K.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters We are a consolidated subsidiary of MidAmerican Energy Holdings Company, or MEHC.

Our common stock is indirectly owned by MEHC, 666 Grand Avenue, Suite 500, Des Moines, Iowa 50309-2580. MEHC is a consolidated subsidiary of Berkshire Hathaway that, as of January 31, 2014, owns 89.85% of MEHC's common stock. The balance of MEHC's common stock is owned by Walter Scott, Jr. (along with family members and related entities), a member of MEHC's Board of Directors, and Gregory E. Abel, PacifiCorp's Chairman and Chief Executive Officer.

None of our executive officers or directors owns shares of our preferred stock.

The following table sets forth certain information regarding the beneficial ownership of MEHC's common stock and the Class A and Class B shares of Berkshire Hathaway common stock held by each of our directors, executive officers and all of our directors and executive officers as a group as of January 31, 2014:

–  –  –

* Indicates beneficial ownership of less than one percent of all outstanding shares.

(1) Includes shares which the listed beneficial owner is deemed to have the right to acquire beneficial ownership under Rule 13d-3(d) under the Securities Exchange Act, including, among other things, shares which the listed beneficial owner has the right to acquire within 60 days.





(2) In accordance with a shareholders agreement, as amended on December 7, 2005, based on an assumed value for MEHC's common stock and the closing price of Berkshire Hathaway common stock on January 31, 2014, Mr. Abel would be entitled to exchange his shares of MEHC common stock for either 1,530 shares of Berkshire Hathaway Class A stock or 2,323,802 shares of Berkshire Hathaway Class B stock. Assuming an exchange of all available MEHC shares into either Berkshire Hathaway Class A shares or Berkshire Hathaway Class B shares, Mr. Abel would beneficially own less than 1% of the outstanding shares of either class of stock.

(3) Mr. Moench retired as a director and employee of PacifiCorp effective February 2014.

Other Matters Pursuant to a shareholders agreement, as amended on December 7, 2005, Mr. Abel is able to require Berkshire Hathaway to exchange any or all of his shares of MEHC common stock for shares of Berkshire Hathaway common stock. The number of shares of Berkshire Hathaway common stock to be exchanged is based on the fair market value of MEHC's common stock divided by the closing price of the Berkshire Hathaway common stock on the day prior to the date of exchange.

Item 13. Certain Relationships and Related Transactions, and Director Independence Certain Relationships and Related Transactions The Berkshire Hathaway Inc.

Code of Business Conduct and Ethics and the MidAmerican Energy Holdings Company, or MEHC, Code of Business Conduct, or the Codes, which apply to all of our directors, officers and employees and those of our subsidiaries, generally govern the review, approval or ratification of any related-person transaction. A related-person transaction is one in which we or any of our subsidiaries participate and in which one or more of our directors, executive officers, holders of more than five percent of our voting securities or any of such persons' immediate family members have a direct or indirect material interest.

Under the Codes, all of our directors and executive officers (including those of our subsidiaries) must disclose to our legal department any material transaction or relationship that reasonably could be expected to give rise to a conflict with our interests.

No action may be taken with respect to such transaction or relationship until approved by the legal department. For our chief executive officer and chief financial officer, prior approval for any such transaction or relationship must be given by Berkshire Hathaway's audit committee. In addition, prior legal department approval must be obtained before a director or executive officer can accept employment, offices or board positions in other for-profit businesses, or engage in his or her own business that raises a potential conflict or appearance of conflict with our interests.

Under an intercompany administrative services agreement we have entered into with MEHC and its other subsidiaries, the costs of certain administrative services provided by MEHC to us or by us to MEHC, or shared with MEHC and other subsidiaries, are directly charged or allocated to the entity receiving such services. This agreement has been filed with the regulatory commissions in the states where we serve retail customers. We also provide an annual report of all transactions with our affiliates to our state regulatory commissions, who have the authority to refuse recovery in rates for payments we make to our affiliates deemed to have the effect of subsidizing the separate business activities of MEHC or its other subsidiaries.

Refer to Note 18 of Notes to Consolidated Financial Statements in Item 8 of this Form 10-K for additional information regarding related-party transactions.

Director Independence Because our common stock is indirectly, wholly owned by MEHC, our Board of Directors consists of MEHC and PacifiCorp employees and we are not required to have independent directors or audit, nominating or compensation committees consisting of independent directors.

Based on the standards of the New York Stock Exchange LLC, on which the common stock of our ultimate parent company, Berkshire Hathaway, is listed, our Board of Directors has determined that none of our directors are considered independent because of their employment by MEHC or PacifiCorp.

Item 14. Principal Accountant Fees and Services

The following table shows PacifiCorp's fees paid or accrued for audit and audit-related services and fees paid for tax and all other services rendered by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu Limited, and their respective

affiliates (collectively, the "Deloitte Entities") for each of the last two years (in millions):

–  –  –

(1) Audit fees include fees for the audit of PacifiCorp's consolidated financial statements and interim reviews of PacifiCorp's quarterly financial statements, audit services provided in connection with required statutory audits, and comfort letters, consents and other services related to SEC matters.

(2) Audit-related fees primarily include fees for assurance and related services for any other statutory or regulatory requirements, audits of certain employee benefit plans and consultations on various accounting and reporting matters.

(3) Tax fees include fees for services relating to tax compliance, tax planning and tax advice. These services include assistance regarding federal and state tax compliance, tax return preparation and tax audits.

The audit committee of MEHC has considered whether the non-audit services provided to PacifiCorp by the Deloitte Entities impaired the independence of the Deloitte Entities and concluded that they did not. All of the services performed by the Deloitte Entities were pre-approved in accordance with the pre-approval policy adopted by the audit committee of MEHC. The policy provides guidelines for the audit, audit-related, tax and other non-audit services that may be provided by the Deloitte Entities to PacifiCorp. The policy (a) identifies the guiding principles that must be considered by the audit committee of MEHC in approving services to ensure that the Deloitte Entities' independence is not impaired; (b) describes the audit, audit-related and tax services that may be provided and the non-audit services that are prohibited; and (c) sets forth pre-approval requirements for all permitted services. Under the policy, requests to provide services that require specific approval by the audit committee of MEHC will be submitted to the audit committee of MEHC by both PacifiCorp's independent auditor and MEHC's Chief Financial Officer. All requests for services to be provided by the independent auditor that do not require specific approval by the audit committee of MEHC will be submitted to MEHC's Chief Financial Officer and must include a detailed description of the services to be rendered.

MEHC's Chief Financial Officer will determine whether such services are included within the list of services that have received the general pre-approval of the audit committee of MEHC. The audit committee of MEHC will be informed on a timely basis of any such services rendered by the independent auditor.

–  –  –

The exhibits listed on the accompanying Exhibit Index are filed as part of this Annual Report.

(c) Financial statements required by Regulation S-X, which are excluded from the Annual Report by Rule 14a-3(b).

–  –  –

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on this 3rd day of March 2014.

–  –  –

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

–  –  –

Exhibit No. Description 3.1* Third Restated Articles of Incorporation of PacifiCorp (Exhibit (3)a, Annual Report on Form 10-K for the year ended December 31, 1996, filed March 21, 1997, File No. 1-5152).

3.2* Bylaws of PacifiCorp, as amended May 23, 2005 (Exhibit 3.2, on Annual Report on Form 10-K for the year ended March 31, 2005, filed May 27, 2005, File No. 1-5152).

4.1* Mortgage and Deed of Trust dated as of January 9, 1989, between PacifiCorp and The Bank of New York Mellon Trust Company, N.A., as successor Trustee, incorporated by reference to Exhibit 4-E, Form 8-B, File No. 1-5152, as supplemented and modified by 26 Supplemental Indentures, each incorporated by reference,

as follows:

–  –  –

4.2* Third Restated Articles of Incorporation and Bylaws. See 3.1 and 3.2 above.



Pages:     | 1 |   ...   | 22 | 23 || 25 |


Similar works:

«Minutes of the 2009 Spring Metropolitan Council Meeting Wednesday, Feb. 18 Friday, Feb. 20, 2009 East Norwich Inn, East Norwich, NY A. Agenda The 2009 Spring Session of the Metropolitan Council began with a retreat on the evening of Wednesday, February 18, 2009, lead by Metropolitan Jonah in Chancery's St. Sergius of Radonezh Chapel. In his talk, which was titled The Spiritual Process, His Beatitude said that the essence of the spiritual process is to overcome one's ego. The teaching of the...»

«BC OnLine Personal Property Registry System User’s Guide Last Updated January 20, 2015 Copyright Copyright © 2015 Province of British Columbia. All rights reserved. This user’s guide is for users of the BC OnLine services who have accepted the BC OnLine Terms and Conditions of Agreement only as necessary in connection with such services (the Purpose). The Government of British Columbia hereby grants to users of the BC OnLine services the right to use, reproduce and store in electronic...»

«RYEDALE CANINE SOCIETY Chairman: Ms Heather McMullen President: Mr Brian Taylor Life Member: Mr C. Boddy SCHEDULE of 30 Class Unbenched ALL ROSETTE MEMBERS' LIMITED SHOW (Not judged on the Group System) (held under Kennel Club Limited Rules & Regulations) (Challenge Certificate winners are not eligible for entry) at GANTON VILLAGE HALL Ganton, near Scarborough, North Yorkshire YO12 4NS on SUNDAY, 22nd NOVEMBER 2015 Show Opens: 10.00 am Judging commences: 10.30 am All Judges at this show agree...»

«Kindergarten Kindergarten Naming Fruits and Veggies Math Objectives 3.01 Identify, build, draw and name triangles, rectangles and circles; identify, build and name spheres and cubes.5.01 Sort and classify objects by one attribute. English Language Arts Objectives 1.02 Develop phonemic awareness and knowledge of alphabetic principle.3.03 Associate target words with prior knowledge and explore an author’s choice of words. Teacher Resources • What foods are in the fruit group? • What foods...»

«Annual Report 2007/08 Swimming WA Beatty Park, Vincent Street North Perth WA 6006 PO Box 205, Leederville WA 6903 Telephone 08 9328 4599 Facsimile 08 9227 6089 office@wa.swimming.org.au www.wa.swimming.org.au Contents Office Bearers for the 2007 / 2008 season 4 Executive Director and President’s Report 5 Development Report 8 Competitions Report 16 Media Report 24 Records Officer Report 26 Technical Committee Report 29 Country Coordinators Report 30 Registrations 31 Board Report 34 Financial...»

«“Let the Little Children Come to Me” By Pastor Jeremy CONGRATULATIONS! If you’re either expecting or have been blessed with the birth of a child, the leadership at Truth Point Church wants to celebrate God’s gift with you! We also want to help answer some questions you may have about celebrating the birth of your child at our church. This pamphlet will seek to answer the following four questions: 1) What is the biblical status of our child? 2)Why should our child be baptized? 3)What...»

«IN THE COMMONWEALTH COURT OF PENNSYLVANIA Robert J. Romanick, : Appellant : :v. : : Rush Township and the : No. 1852 C.D. 2012 Rush Township Board of Supervisors : Argued: March 12, 2013 BEFORE: HONORABLE DAN PELLEGRINI, President Judge HONORABLE ROBERT SIMPSON, Judge (P.) HONORABLE JAMES GARDNER COLINS, Senior Judge OPINION BY PRESIDENT JUDGE PELLEGRINI FILED: April 4, 2013 Robert J. Romanick (Romanick) appeals from the Schuylkill County Court of Common Pleas’ (trial court) August 9, 2012...»

«ASIAN HORIZONS Vol. 6, No. 2, June 2012 Pages: 248-260 GENESIS 1:26-28 A PANACEA TO ENVIRONMENTAL DEGRADATION IN NIGER DELTA, NIGERIA Awajiusuk, Finomo Julia Introduction Whether the cornucopians (those who argue against imminent threat to human life by environmental pollution) or their cautious optimistic (those who hold that with good management the resources of the earth can take care of all humanity) allies accept it or not there is a serious threat to the continued existence of the...»

«THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about the contents of this document or as to the action you should take, you are recommended to immediately seek your own personal financial advice from your stockbroker, bank manager, solicitor, accountant or other independent financial adviser authorised pursuant to the Financial Services and Markets Act 2000, who specialises in advising on the acquisition of shares and other securities. This document is...»

«Equities Research research@invictus-securities.com +263-(0) 4 776607/788257/8 Analysts Morning Update Raymond Madombwe Blessmore Tsingozviziwa Zimbabwe Stock Exchange ZSE Statistics ZSE Corporate Calendar Zimbabwe Press Summary ZSE Statistics Corporate Calendar PRIME Draft Copy Only: Not for external distribution or to Sales. Equities Research P research@invictus-securities.com +263-(0) 4 776607/788257/8 Zimbabwe Press Summary US$4m demonetisation funds claimed (NewsDay, Friday July 31, Pg 13)...»

«IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA 55 KENMORE LANE, LLC, :Assignee of Kenmore Woods, LLC : :Plaintiff, : : CIVIL ACTION NO. 10-1089 v. : : UPPER PROVIDENCE TOWNSHIP, : UPPER PROVIDENCE TOWNSHIP : SEWER AUTHORITY, : : Defendants. : MEMORANDUM OPINION DAVID R. STRAWBRIDGE November 16, 2010 UNITED STATES MAGISTRATE JUDGE Presently before the Court is the Motion for Summary Judgment filed by Defendants Upper Providence Township (“UPT”) and Upper...»

«Form 603 Corporations Act 2001 Notice of Initial Substantial Holder Section 671B APO To: Company Name/Scheme The Secretary APN Outdoor Group Limited Level 4 33 Saunders Street Pyrmont NSW 2009 Ph: (02) 8569 3000 ACN 122 574 583 1. Details of substantial shareholder National Australia Bank Limited and its associated entities listed in Annexure A Name (ACN 004 044 937) ACN (if applicable) The holder became a substantial holder on 18/11/2014 2. Details of voting power The total number of votes...»





 
<<  HOME   |    CONTACTS
2017 www.thesis.dislib.info - Online materials, documents

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.