EXHIBIT 10.24
2004 SHORT-TERM INCENTIVE PLAN
BACKGROUND
At its meeting on December 17, 2003, the Nominating and Compensation Committee
reviewed and approved the 2004 Short-Term Incentive Plan (STIP) structure for
officers of PG&E Corporation and Pacific Gas and Electric Company. The structure
(Attachment A) establishes the weighting of corporate earnings from operations,
subsidiary earnings from operations, and other performance factors for officers.
ATTACHMENT A
2004 RECOMMENDED OFFICER SHORT-TERM INCENTIVE PLAN STRUCTURE
OFFICER GROUP AWARD COMPONENT WEIGHT PERFORMANCE MEASURES
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PG&E Corporation Corporate Financial Performance 75% Corporate earnings from operations
Utility Plan of Reorganization 25% Progress towards the reorganization of
Pacific Gas and Electric Company
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Pacific Gas and Electric Corporate Financial Performance 25% Corporate earnings from operations
Company -
Senior Officers
(Officer Bands 2-4) Subsidiary Financial Performance 50% Subsidiary contribution to corporate
earnings from operations
Utility Plan of Reorganization 25% Progress towards the reorganization of
Pacific Gas and Electric Company
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Pacific Gas and Electric Corporate Financial Performance 25% Corporate earnings from operations
Company -
Officers
(Officer Bands 5-6) Subsidiary Financial Performance 25% Subsidiary contribution to corporate
earnings from operations
Utility Plan of Reorganization 25% Progress towards the reorganization of
Pacific Gas and Electric Company
Subsidiary Operational Performance 25% Financial, operating, and service
measures determined by subsidiary CEO
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