Quicklinks
The Puget Energy and Puget Sound Energy Securities Pricing Committees currently include three directors: Phyllis J. Campbell (Chairperson), Sally G. Narodick and Stephen P. Reynolds.
PUGET ENERGY, INC.
Securities Pricing Committee Charter
PUGET SOUND ENERGY, INC.
Securities Pricing Committee Charter
Purpose:
The Securities Pricing Committee (the “Committee”) is established to assist the Board in the oversight and review of management’s recommendations relating to the final terms of financing transactions and the financial aspects of management’s strategic initiatives.
Authority:
The Committee shall have all authority necessary to fulfill the duties and responsibilities assigned to the Committee in this Charter or otherwise assigned to it by the Board. When the Committee deems appropriate, it may retain independent counsel and other professionals to assist the Committee without further Board approval, and may form and delegate authority to subcommittees and may delegate authority to one or more designated members of the Committee, the Board, or Company officers.
Composition:
Independence
The Committee shall be composed of three or more directors, consisting of the Chair of the Board, the Lead Independent Director and the Chair of the Audit Committee or as otherwise determined and appointed by the Board. Members need not be “independent” directors as defined by the New York Stock Exchange.
Appointment and Removal of Members
The Board may remove any member from the Committee at any time with or without cause.
Duties and Responsibilities:
The Committee, which shall also function as the Executive Committee for Puget Sound Energy, Inc., shall oversee and approve the final terms of significant debt and equity financing transactions, and any other duties and responsibilities assigned to the Committee from time to time by the Board.
Meetings:
The Committee shall hold such meetings as are necessary or appropriate in order for the Committee to fulfill its responsibilities. In the absence of a member designated by the Board to serve as the Chair, the members of the Committee may appoint from among their number a person to preside at their meetings.
As approved by the Board on 5/9/06.