8-KMaterial Agreements

ENTERGY CORP /DE/ 8-K Report, Material Agreement (Nov 10, 2004)

Filed November 10, 2004For Securities:ETR

Summary

Entergy Corporation (ETR) announced on November 4, 2004, through its Personnel Committee, amendments to its System Executive Continuity Plans. These changes primarily affect the payment structure and confidentiality obligations for participating senior executives. The amendments are designed to streamline the payment process and strengthen ongoing confidentiality agreements. Key among the changes is the shift from installment payments to a single lump-sum payment for executives under these continuity plans. Additionally, the duration of confidentiality provisions has been extended significantly, from a fixed two-year period to an indefinite term that lasts as long as the relevant information remains non-public. These modifications aim to enhance the company's ability to protect sensitive information while also simplifying the payout mechanics for executive continuity benefits.

Key Highlights

  • 1Entergy Corporation amended its System Executive Continuity Plans on November 4, 2004.
  • 2The amendments were approved by the Personnel Committee of the Board of Directors.
  • 3Payments due to executives under the plans will now be made in a single lump sum, instead of installments.
  • 4Confidentiality provisions binding executives have been extended.
  • 5The duration of confidentiality provisions is now tied to the non-public status of the information, rather than a fixed two-year term.
  • 6These changes apply to eligible senior executives within the Entergy System.

Frequently Asked Questions

The primary purpose of the amendments is to change how executive continuity payments are made and to extend the duration of confidentiality obligations for senior executives. Payments will now be made in a lump sum, and confidentiality agreements will last as long as the information remains non-public, offering greater flexibility in payment and stronger, long-term protection of company information.

Previously, payments due to an executive under the plans could be made in installments. The amendment mandates that all payments must now be made in a single, lump-sum amount.

The amendments significantly extend the confidentiality period. Instead of a fixed two-year duration, the confidentiality provisions will now remain in effect for the entire period that the specific information in question continues to be non-public.

The plans are eligible for certain senior executives within the Entergy System, with specific terms described within the plans themselves.