Resignation and Retirement Policies

Information on the Board

Board Meetings and Attendance

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Compensation Committee Interlocks and Insider Participation

Board Committee Membership Roster

Audit Committee and Financial Expert

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Corporate Governance Committee and Nomination of Directors

Resignation and Retirement Policies

Compensation of Directors

Members of the Board of Directors are required to submit their resignations when they change employment or have another significant change in their professional roles and responsibilities. The normal retirement of those individuals who were members of the Board of Directors when the policy was adopted in 1998 is not considered a change for this purpose. The Corporate Governance Committee will determine whether any such resignation will be accepted.

Duke Energy's Board of Directors retirement policy states that normal retirement for each director will occur at the annual shareholders meeting following his or her seventieth birthday.