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Compensation Philosophy

The Compensation Committee has approved compensation programs intended to:

• Attract and retain talented executive officers and key employees by providing total compensation competitive with that of other executives and key employees employed by companies of similar size, complexity and lines of business;
• Motivate executives and key employees to achieve strong financial and operational performance;
• Emphasize performance based compensation, which balances rewards for short-term and long-term results;
• Reward individual performance;
• Link the interests of executives with shareholders by providing a significant portion of total pay in the form of stock-based incentives and requiring target levels of stock ownership; and
• Encourage long-term commitment to Duke Energy.