ODEC enters consulting agreement with Interim CEO Lee; monthly pay $80,000 plus allowances

OLD DOMINION ELECTRIC COOPERATIVE

John C. Lee Jr. appointed Interim President & CEO effective Sept 8, 2023, after Marcus M. Harris resigned.
Consulting agreement: $80,000/month, $1,500 auto allowance, housing allowance; independent contractor.
Term begins Sept 8, 2023; either party may terminate on 30 days' notice or immediately for material breach.
Lee continues as President/CEO of Mecklenburg Electric Cooperative; ODEC acknowledges no conflict of interest.
Lee is not eligible for employee benefit plans and is solely responsible for all taxes.

item 5.02 item 9.01

Executive movements

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Appointed (interim)

John C. Lee, Jr.

Interim President and CEO

OLD DOMINION ELECTRIC COOPERATIVE

Effective: 2023-09-08
Filed: October 13, 2023, 7:59 PM ET

the board of directors of ODEC appointed Mr. Lee as the Interim President and CEO of ODEC, effective September 8, 2023

Departed

Marcus M. Harris

President and CEO

OLD DOMINION ELECTRIC COOPERATIVE

Effective: 2023-09-08
Successor: John C. Lee, Jr.
Filed: October 13, 2023, 7:59 PM ET

following the resignation of Marcus M. Harris, our former President and CEO.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John C. Lee, Jr. was appointed as Interim President and CEO at OLD DOMINION ELECTRIC COOPERATIVE.

Action: appointed
Role: Interim President and CEO

Exact text from the filing

the board of directors of ODEC appointed Mr. Lee as the Interim President and CEO of ODEC, effective September 8, 2023

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Marcus M. Harris resigned as President and CEO at OLD DOMINION ELECTRIC COOPERATIVE.

Action: resigned
Role: President and CEO

Exact text from the filing

following the resignation of Marcus M. Harris, our former President and CEO.

View on SEC.gov

Source: SEC EDGAR

accession 0000950170-23-053219

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