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TVC > SEC Filings for TVC > Form 8-K on 12-Jul-2013All Recent SEC Filings

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Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 8, 2013, Preston D. Swafford, TVA's Executive Vice President and Chief Nuclear Officer, announced that he would be resigning from TVA, with an effective date no later than October 4, 2013. In connection with his resignation, Mr. Swafford will receive a payment of $552,488. In addition, Mr. Swafford will be eligible to receive an Executive Annual Incentive Plan award for fiscal year 2013 and an Executive Long-Term Incentive Plan award for the performance cycle ending September 30, 2013, as long as he remains employed through September 30, 2013. Furthermore, Mr. Swafford's resignation will be considered an approved termination under TVA's Supplemental Executive Retirement Plan.

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