============================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 28, 2008 SOUTHERN CALIFORNIA EDISON COMPANY (Exact name of registrant as specified in its charter) CALIFORNIA 001-2313 95-1240335 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 2244 Walnut Grove Avenue (P.O. Box 800) Rosemead, California 91770 (Address of principal executive offices, including zip code) 626-302-2222 (Registrant's telephone number, including area code) ============================================================================================ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Page 1 Section 5 - Corporate Governance and Management Item 5.02(e) Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Edison International 2008 Executive Bonus Program On February 28, 2008, the Compensation and Executive Personnel Committee (the "Committee") of the Board of Directors of Edison International, the parent holding company of Southern California Edison Company ("SCE"), approved the Edison International 2008 Executive Bonus Program (the "2008 Bonus Program"). The following summary of the 2008 Bonus Program is qualified in its entirety by reference to the text of the 2008 Bonus Program, which is filed as Exhibit 10.1 hereto and incorporated by reference herein. The 2008 Bonus Program creates a bonus pool having a maximum value equal to 1.5% of Edison International's consolidated earnings from continuing operations during fiscal year 2008. Certain SCE executive officers were granted performance-based awards under the 2008 Bonus Program having a maximum value equal to a fixed percentage of the bonus pool, if any. The maximum fixed percentage of the bonus pool allocated to each named executive officer of SCE who participates in the 2008 Bonus Program is as follows: Name and Title Percentage of Bonus Pool John E. Bryson, Chairman of the Board, 27% President and CEO of Edison International Alan J. Fohrer, Chairman of the Board and CEO of SCE 12% John R. Fielder, President of SCE 7% The Committee will administer the 2008 Bonus Program, determine final bonus amounts, and retains discretion to reduce (but not increase) the actual amount payable to any of these officers from the maximum amount determined under the program. Page 2 On February 28, 2008, the Compensation and Executive Personnel Committee of the SCE Board of Directors approved cash bonuses for 2007 for SCE's executive officers, including SCE's named executive officers. The 2007 cash bonuses for Messrs. Bryson, Fohrer and Fielder were determined under and in accordance with the Edison International 2007 Executive Bonus Program. The bonuses for SCE's two named executive officers who did not participate in the Edison International 2007 Executive Bonus Program were as follows: Named Executive Officer 2007 Cash Bonus Mahvash Yazdi, Senior Vice $387,000 President and Chief Information Officer Thomas M. Noonan, Senior Vice $329,000 President and Chief Financial Officer Section 9 - Financial Statements and Exhibits Item 9.01. Financial Statements and Exhibits (c) Exhibits See the Exhibit Index below. Page 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SOUTHERN CALIFORNIA EDISON COMPANY (Registrant) /s/ Linda G. Sullivan ------------------------------------- Linda G. Sullivan Vice President and Controller Date: March 5, 2008 Page 4 EXHIBIT INDEX Exhibit No. Description =========================================================================== 10.1 Edison International 2008 Executive Bonus Program
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8-K Filing
SOUTHERN CALIFORNIA EDISON (SCE-PN) 8-KDeparture of Directors or Principal Officers
Filed: 5 Mar 08, 12:00am