Filed this morning at the SEC. BGE's parent is giving CEO Mayo Shattuck pension credit for the time he spent on Constellation's board, before he became CEO in 2001. He is not yet vested in the plan but if/when he is this'll mean a lot more money. This is nothing, however, compared with the pension upgrade he was going to get in the FPL merger.

Effective February 21, 2008, the Compensation Committee of the Board of Directors amended the Constellation Energy Group Senior Executive Supplemental Plan, a non-qualified supplemental retirement plan, to allow participants to receive credit toward the service requirement for time spent in non-employee service to Constellation Energy Group, Inc. (“Constellation Energy”), including time spent as a member of the Board of Directors. Under the plan, a participant must be at least age 55 with 10 or more years of service to retire and be entitled to benefits. As a result of this change, Chairman, President, and Chief Executive Officer Mayo A. Shattuck, III, will receive an additional two years and six months of service under the plan relating to his service as a non-employee member of the Board of Directors prior to his appointment as President and Chief Executive Officer. As of February 21, 2008, Mr. Shattuck is age 53 and has been credited with 8 years, 10 months of service (including the years of director-related service) and remains ineligible for benefits under the plan.