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VVC > SEC Filings for VVC > Form 8-K on 18-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 Arrangement of Certain Officers.

On July 17, 2013, Vectren Corporation entered into a Severance Agreement (the "Severance Agreement") with John Bohls, President of Vectren Energy Marketing. The Severance Agreement will become effective on the eighth day after Mr. Bohls executed the Severance Agreement.

As a result of sale in December, 2011 of Vectren Source, a natural gas marketing business, and the recent disposition of the certain assets of ProLiance Energy, LLC, the natural gas marketing operation of ProLiance Holdings, LLC, which is 61% owned by an affiliate of Vectren, Mr. Bohls' employment with Vectren terminated without cause on July 15, 2013. Vectren does not anticipate hiring anyone to replace Mr. Bohls given those business transactions.

The Severance Agreement provides that Mr. Bohls will receive certain severance benefits, most of which are provided for in the Vectren Corporation Severance Plan for Executive Officers (the "Severance Plan"). The Severance Agreement also contains certain releases, waivers and non-competition provisions as well as reaffirmations of restrictive covenants contained in the Severance Plan.

Vectren also entered into a Consulting Agreement dated July 17, 2013 with Mr. Bohls (the "Consulting Agreement") pursuant to which Mr. Bohls agreed to provide certain consulting services to Vectren upon Vectren's request for an agreed-upon hourly charge.

Copies of the Severance Agreement and the Consulting Agreement are attached as exhibits to this Current Report on Form 8-K and are incorporated herein by reference.

Item 9.01 Exhibits

(d) Exhibits
 The exhibits listed below are filed herewith.

Number    Description
          Severance Agreement dated July 17, 2013 between Vectren Corporation and
10.1      John Bohls
          Consulting Agreement dated July 17, 2013 between Vectren Corporation and
10.2      John Bohls

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