-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KmCwQzeSfszJAtPg8eKOepEJmXqXuI88hAnn3uj1yi7QCs5e17VdAxfKkwWqu6IP Lb09a/UukzXgqQDSwP9H/w== 0001169232-08-003267.txt : 20080829 0001169232-08-003267.hdr.sgml : 20080829 20080829115137 ACCESSION NUMBER: 0001169232-08-003267 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080827 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20080829 DATE AS OF CHANGE: 20080829 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHUGACH ELECTRIC ASSOCIATION INC CENTRAL INDEX KEY: 0000878004 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 920014224 STATE OF INCORPORATION: AK FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-42125 FILM NUMBER: 081047777 BUSINESS ADDRESS: STREET 1: 5601 ELECTRON DR STREET 2: PO BOX 196300 CITY: ANCHORAGE STATE: AK ZIP: 99518 BUSINESS PHONE: 9075637494 MAIL ADDRESS: STREET 1: 5601 ELECTRON DRIVE CITY: ANCHORAGE STATE: AK ZIP: 99518 8-K 1 d74896_8k.htm CURRENT REPORT

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of the Securities Act of 1934

 

 

Date of Report (Date of earliest event reported)

August 27, 2008

 

 

CHUGACH ELECTRIC ASSOCIATION, INC.

(Exact name of registrant as specified in its charter)

 

 

Alaska

33-42125

92-0014224

(State or other jurisdiction
of incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

5601 Electron Drive, Anchorage, Alaska

99518

(Address of Principal’s Executive Offices)

(Zip Code)
 

 

Registrant’s telephone number, including area code:

    (907) 563-7494

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o

Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

Section 5 – Corporate Governance and Management

 

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

 

(e)       On December 5, 2007, the Board of Directors of Chugach Electric Association voted to terminate the contract of Chugach’s Chief Executive Officer, Mr. William Stewart. Subsequent to Mr. Stewart’s termination, a dispute arose between Chugach and Mr. Stewart as to the amount owed Mr. Stewart as a result of his termination.

 

On August 27, 2008, the Board of Directors of Chugach ratified a Settlement Agreement with Mr. Stewart relating to the amount owed Mr. Stewart. Mr. Stewart will receive the amount of $263,725 payable in twelve equal monthly installments. Chugach will also reimburse Mr. Stewart for withholding taxes that were repaid by Mr. Stewart to Chugach in the amount of $173,855.35. Chugach will also release to Mr. Stewart Pension Restoration Plan funds in the amount of $317,106.34 that had been paid to Chugach for the benefit of Mr. Stewart. Chugach and Mr. Stewart executed mutual releases of all claims each of them may have against the other.

 

SIGNATURES

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

Date:

August 27, 2008

CHUGACH ELECTRIC ASSOCIATION, INC.

 

 

 

By:

/s/ Bradley W. Evans

 

Bradley W. Evans

 

Chief Executive Officer

 

 

 

 

 

 

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