A
corporate agency of the United States created by an act of
Congress
(State
or other jurisdiction of incorporation or organization)
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000-52313
(Commission
file number)
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62-0474417
(IRS
Employer Identification No.)
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400
W. Summit Hill Drive
Knoxville,
Tennessee
(Address
of principal executive offices)
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37902
(Zip
Code)
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The
Chief Executive Officer (“CEO”) will not receive any payout under either
the Executive Annual Incentive Plan (“EAIP”) or the Executive Long-Term
Incentive Plan for the performance cycle ending in FY
2009.
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•
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The
Chief Financial Officer (“CFO”) and the Chief Operating Officer (“COO”)
will not receive any EAIP payout for FY
2009.
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•
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There
will be no salary adjustments for any of the Named Executive Officers
based on performance in FY 2009.
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For
FY 2009, there will be no annual incentive pay linked to the achievement
of TVA’s overall corporate objectives identified in TVA’s Winning
Performance Balanced Scorecard. Thirty percent of each
employee’s annual incentive pay for FY 2009, including TVA’s other two
Named Executive Officers, had been linked to achieving these
objectives.
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Date:
February 19, 2009
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Tennessee
Valley Authority
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(Registrant)
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/s/ Kimberly S. Greene | |
Kimberly
S. Greene
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Chief
Financial Officer and Executive
Vice
President, Financial Services
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