APS 2013 Annual Report Download - page 234
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achievement of the earnings and business unit performance goals separately or in combination, and before adjustment for individual performance.
Mr. Edington has an award opportunity of 12.5% of his base salary, a target of 50% of his base salary, and up to a maximum of 100% of his base salary,
depending on the achievement of the earnings and business unit performance goals, separately or in combination, and before adjustment for individual
performance. In no event may the award to each of Messrs. Hatfield, Falck and Edington exceed two times his target amount. The business unit performance
indicators that will be considered for Messrs. Hatfield and Falck are derived from the following APS critical areas of focus as provided in its Strategic
Framework: employees, operational excellence and shareholder value. The business unit performance indicators for Mr. Edington are based on employees,
operational excellence, performance improvement and shareholder value. In considering each Officer’s individual performance, the Committee may also
consider additional factors such as shareholder value creation, customer service, financial strength, operating performance, safety, and the Chief Executive
Officer’s assessment of the Officer’s performance during the year.
In addition, consistent with Mr. Edington’s letter agreement regarding his employment, the Board approved a separate compensation opportunity for
Mr. Edington of up to $125,000 upon the achievement of specific performance measures tied to Palo Verde operations performance and regulatory evaluations.