Karl W. Singer
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
As a participant in the Plan, I hereby agree to be bound by the following terms and conditions:
In consideration of this new agreement and in recognition of the new position to which I have
recently been selected, TVA agrees to transfer the balance of my current Long Term Deferred
Compensation Plan account to my Merit Incentive Supplemental Retirement Income Plan
(MISRIP) account and I agree that all rights and obligations under the deferral agreement, which I
signed on August 13, 2001, are hereby extinguished.
Annual deferred compensation credits as stated above will be made to an account in my name for a period of five
years, beginning on October 1, 2004, and ending in fiscal year 2009, provided that I remain employed by TVA
through September 30, 2009. I shall be entitled to compensation credits including interest and returns on the
vesting dates as stated in the above schedule provided that I am employed by TVA through the vesting period.
Upon completion of each vesting period, the amount stated above will be paid to me in a lump sum unless I elect
below to have the amount transferred to an account in TVA’s Merit Incentive Supplemental Retirement income
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 my termination and no further credits will be made under it.
Within 30 days of my termination, my remaining account balance, includ