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AWR > SEC Filings for AWR > Form 8-K on 2-Apr-2014All Recent SEC Filings

Show all filings for AMERICAN STATES WATER CO



Change in Directors or Principal Officers, Financial Statements and Exhi

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 28, 2014, the Compensation Committee of the Board of Directors approved the 2014 short-term incentive program (the "Bonus Program") for the executive officers (the "Executive Officers") of American States Water Company. Under the terms of the Bonus Program, each of the Executive Officers is eligible to earn an objective cash bonus and a discretionary cash bonus for the 2014 calendar year.

The target aggregate bonus for Robert J. Sprowls, President and Chief Executive Officer of American States Water Company and its subsidiaries, Denise L. Kruger, Senior Vice President-Regulated Utilities for Golden State Water Company, McClellan Harris III, Senior Vice President and Assistant Secretary of American States Utility Services, Inc., Eva G. Tang, Senior Vice President-Finance, Chief Financial Officer and Corporate Secretary of American States Water Company and its subsidiaries and Treasurer of American States Water Company, and Patrick R. Scanlon, Vice President-Water Operations for Golden State Water Company is 60%, 28.5%, 28.5%, 28.5% and 23%, respectively, of his or her base salary for 2014. The objective bonus is 80% of the target aggregate bonus for each of these Executive Officers and will become payable based upon each Executive Officer's attainment of specific performance targets set forth in the Bonus Program. The discretionary bonus is 20% of the target aggregate bonus for each of these Executive Officers and is payable based on the Company's subjective assessment of the Executive Officer's performance in the areas of our business over which he or she has responsibility.

Item 9.01. Financial Statements and Exhibits

The following documents are filed as an Exhibit to this report:

Exhibit 10.1 2014 Short-Term Incentive Program*

Exhibit 10.2 Form of 2014 Short-Term Incentive Program Award Agreement*

Exhibit 10.3 Policy Regarding the Recoupment of Certain Performance-Based Compensation Payments*

*Management contract or compensatory arrangement.

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