The company said its Organization and Compensation Committee of the Board of Directors adopted an amendment to the Key Executive Severance Plan (KESP) on April 16, 2024, effective as of April 16.

1. 01

   The company said its Organization and Compensation Committee of the Board of Directors adopted an amendment to the Key Executive Severance Plan (KESP) on April 16, 2024, effective as of April 16.

2. 02

   The company said the KESP amendment updates benefits eligibility language and specifies the situations in which employees are eligible or not eligible for benefits.

3. 03

   The company said the KESP amendment provides that, under specified circumstances, employees are eligible for severance benefits under a voluntary exit incentive program.

4. 04

   The company said it removed references to PSEG Energy Resources and Trade LLC (ER&T) from the KESP because the separate incentive plan for ER&T employees has closed, and that the amendment also includes some administrative amendments and clarifications.

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Original filing

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