Exhibit 10.41
DEFERRAL AGREEMENT
William R. Campbell
The TVA Board of Directors has approved your participation in TVA’s Long-Term Deferred Compensation
Plan (Plan) under the following terms:
Please read the following provisions carefully and indicate your approval by signing at the designated place
below.
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As a participant in the Plan, I hereby agree to be bound by the following terms and conditions:
Annual deferred compensation credits as stated above will be made to an account in my name to cover a service
period of approximately 5 years and 4 months, beginning on May 14, 2007, and ending on September 30, 2012,
provided that I remain employed by TVA through September 30, 2012. I shall be entitled to compensation
credits including interest and returns on the vesting dates as stated in the above schedule provided that I remain
employed by TVA through the vesting periods. The first credit shall be made directly to an account in TVA’s
Merit Incentive Supplemental Retirement Income Plan (MISRIP) and will be paid out to me, upon termination of
my employment with TVA, in five annual installments or in accordance with otherwise applicable IRS
rules. Upon expiration of this agreement, the balance of the account, including interest and return as provided
below, will be transferred to my TVA deferred compensation account and all credits from this agreement will be
paid out to me, upon termination of my employment with TVA, in five annual installments or in accordance with
otherwise applicable IRS rules.
I understand that I must be an employee of TVA at the time of the vesting dates stated above or no payments or
transfers under the Plan will be made by TVA and any credits to my account will be extinguished. However, in
the event that TVA terminates my employment during the term of this agreement through no act or delinquency of
my own, this agreement is terminated as of the date of