8-KMaterial AgreementsExhibits & Filings

CONSOLIDATED EDISON INC 8-K Report, Material Agreement (Jan 5, 2006)

Filed January 5, 2006For Securities:ED

Summary

Consolidated Edison, Inc. (ED) filed a Form 8-K on January 5, 2006, reporting the entry into its 2005 Executive Incentive Plan by Consolidated Edison Company of New York, Inc. on December 29, 2005. This plan outlines the framework for executive compensation tied to performance, with awards determined by a maximum fund established by the Board of Trustees, based on prior year salaries of designated executives. The plan allows for lump-sum payments post-award and offers participants the option to defer a portion of their awards into the Company's Deferred Income Plan. While this filing doesn't disclose specific financial results or strategic shifts, it provides insight into the company's executive compensation structure and its commitment to incentivizing its leadership team. Investors can view this as part of the company's ongoing governance and executive compensation practices.

Key Highlights

  • 1Consolidated Edison Company of New York, Inc. adopted the 2005 Executive Incentive Plan on December 29, 2005.
  • 2The plan's funding is based on a maximum fund set by the Management Development and Compensation Committee, subject to Board of Trustees approval.
  • 3Awards are calculated based on the salaries of eligible participants from the prior year.
  • 4Eligible participants are executives designated by the Board of Trustees.
  • 5Awards are payable as a single lump sum after the award date.
  • 6Participants have the option to defer a portion of their awards into the Company's Deferred Income Plan.

Frequently Asked Questions

The primary purpose of the 2005 Executive Incentive Plan is to provide a framework for incentivizing eligible executives of Consolidated Edison Company of New York, Inc. through performance-based awards, linked to company and individual performance as reflected in compensation structures.

The funding for the plan is determined by a maximum fund established annually by the Management Development and Compensation Committee of the Board of Trustees, which is then subject to the approval of the full Board of Trustees. This fund is based on the salaries of eligible participants from the preceding year.

Yes, executives receive their awards as a single lump-sum payment as soon as practicable after the award date. Additionally, they have the option to defer a portion of their award into the Company's Deferred Income Plan, providing flexibility in compensation management.

No, this particular Form 8-K filing does not specify the exact financial performance targets or metrics that will trigger awards under the 2005 Executive Incentive Plan. It outlines the structure and mechanism for determining the incentive pool and awards, but detailed performance criteria are typically found in separate compensation committee reports or proxy statements.