Exhibit 10.1

Execution Version

FIRST AMENDMENT TO RESTRUCTURING SUPPORT AGREEMENT

This FIRST AMENDMENT TO THE RESTRUCTURING SUPPORT AGREEMENT (this “Amendment”),
dated as of December 16, 2019 (the “Effective Date”), is entered into by and
among (a) the Debtors; (b) the TCC; (c) the Consenting Fire Claimant
Professionals; and (d) the Shareholder Proponents (each as defined in the RSA
referenced below).

WHEREAS, the Debtors, the TCC, the Consenting Fire Claimant Professionals and
the Shareholder Proponents are parties to that certain Restructuring Support
Agreement, dated December 6, 2019 (together with all exhibits and attachments
thereto, the “RSA”); and

WHEREAS, the Parties desire to amend the RSA as set forth herein.

NOW, THEREFORE, in consideration of the premises and mutual covenants herein
contained, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Parties hereto agree as follows:

1.          Definitions.  Capitalized terms used herein shall have the meanings
given to them in the RSA unless otherwise defined herein.

2.          Amendment to the RSA.  Section 3(a)(iii) of the RSA is hereby
deleted in its entirety and replaced with the following:

“iii.          [reserved].”

3.          Amendment to Amended Plan Definition of “Aggregate Fire Victim
Consideration.”  The Debtors and the Shareholder Proponents agree to amend the
Amended Plan by deleting the definition of “Aggregate Fire Victim Consideration”
in its entirety and replacing it with the following:

1.6          Aggregate Fire Victim Consideration means the aggregate
consideration used to fund the Fire Victim Trust of (a) $5.4  billion in cash to
be contributed on the Effective Date, (b) $1.35 billion consisting of (i) $650
million to be paid in cash on or before January 15, 2021 pursuant to the Tax
Benefits Payment Agreement, and (ii) $700 million to be paid in cash on or
before January 15, 2022 pursuant to the Tax Benefits Payment Agreement; (c)
$6.75 billion in New HoldCo Common Stock (issued at Fire Victim Equity Value),
which shall not be less than 20.9% of the New HoldCo Common Stock based on the
number of fully diluted shares of Reorganized HoldCo (calculated using the
treasury stock method (using an Effective Date equity value equal to Fire Victim
Equity Value)) that will be outstanding as of the Effective Date (assuming all
equity offerings and all other equity transactions specified by the Plan,
including without limitation, equity issuable upon the exercise of any rights or
the conversion or exchange of or for any other securities, are consummated and
settled on the Effective Date, but excluding any future equity issuance not
specified by the Plan) assuming the Utility’s allowed return on equity as of the
date of the Tort Claimants RSA and reasonable registration rights consistent
with the recommendations of the Debtors’ equity underwriter and tax rules and
regulations; (d) the assignment by the Debtors and Reorganized Debtors to the
Fire Victim Trust of the Assigned Rights and Causes of Action; and (e)
assignment of rights, other than the rights of the Debtors to be reimbursed
under the 2015 Insurance Policies for claims submitted prior to the Petition
Date, under the 2015 and 2016 Insurance Policies to resolve any claims related
to Fires in those policy years. For the avoidance of doubt, the Aggregate Fire
Victim Consideration shall not include any amounts for the Public Entities
Settlement which shall be satisfied from other Plan financing sources but not
from the Aggregate Fire Victim Consideration.

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4.          Reservation of Rights / No Waiver.  The Parties acknowledge and
agree that except as expressly set forth herein, this Amendment shall not
constitute a waiver by any Party of any rights or claims related to the RSA, and
all Parties hereby reserve any and all rights not expressly amended or modified
herein.

5.          Effectiveness.  This Amendment shall be deemed effective on the date
on which the Debtors, the Shareholder Proponents, and the Requisite Consenting
Fire Claimant Professionals have duly executed and delivered counterparts of
this Amendment.

6.          Integration.  Each Party hereby: (a) acknowledges the terms of this
Amendment; (b) agrees that this Amendment, together with the RSA, constitutes
the entire agreement among the Parties with respect to the subject matter hereof
and supersedes all prior agreements and understandings among the Parties with
respect to such subject matter and (c) agrees that each reference to the RSA
hereafter made in any document, agreement, instrument, filing, pleading, notice
or communication shall mean and be a reference to the RSA as amended and
modified by this Amendment.

7.          Counterparts.  This Amendment may be executed in counterparts, each
of which shall be deemed an original, but all of which shall constitute the same
instrument.  Delivery of a copy of this Amendment bearing an original signature
by electronic transmission shall have the same effect as physical delivery of
the paper document bearing the original signature.

[SIGNATURE PAGES FOLLOW]

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IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed and
delivered by their respective duly authorized officers, solely in their
respective capacities as officers of the undersigned and not in any other
capacity, as of the date first set forth above.
 
 

 
DEBTORS
           
PG&E CORPORATION
         
 
By:
/s/ Janet C. Loduca      
Name:
Janet C. Loduca
     
Title:
Senior Vice President,
General Counsel
         

 

 
PACIFIC GAS AND ELECTRIC COMPANY
         
 
By:
/s/ Janet C. Loduca      
Name:
Janet C. Loduca
     
Title:
Senior Vice President,
General Counsel
         

[First Amendment to the Restructuring Support Agreement]

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TCC
                   
By:
/s/ Cecily A. Dumas            
Name:
Cecily A. Dumas
           
Firm:
Baker & Hostetler LLP
     
Attorneys for TCC
   

 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT PROFESSIONAL
                 
By:
/s/ Brendan M. Kunkle            
Name:
Brendan M. Kunkle
           
Firm:
Abbey, Weitzenberg, Warren & Emery
     
 Attorneys for Holders of Fire Victim Claims
   

 

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ E. Elliot Adler            
Name:
E. Elliot Adler
           
Firm:
Adler Law Group, APLC
     
Attorneys for Holders of Fire Victim Claims

   

 
 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ Mary E. Alexander
           
Name:
Mary E. Alexander            
Firm:
Mary Alexander & Associates
     
Attorneys for Holders of Fire Victim Claims

   

 
 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ Nelson C. Barry III            
Name:
Nelson C. Barry III
           
Firm:
Law Office of Nelson C. Barry III
      Attorneys for Holders of Fire Victim Claims
   

 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ James P. Frantz            
Name:
James P. Frantz
           
Firm:
Frantz Law Group APLC
     
Attorneys for Holders of Fire Victim Claims

   

 

By:
/s/ Richard K. Bridgford            
Name:
Richard K. Bridgford, Esq.
           
Firm:
Bridgford, Gleason & Artinian
     
Attorneys for Holders of Fire Victim Claims

   

 

By:
/s/ Patrick McNicholas
           
Name:
Patrick McNicholas, Esq.            
Firm:
McNicholas & McNicholas
     
Attorneys for Holders of Fire Victim Claims

   

 
 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ Steven M. Campora            
Name:
Steven M. Campora
           
Firm:
Dreyer, Babich, Buccola, Wood, Campora LLP
     
Attorneys for Holders of Fire Victim Claims
   

 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ Dario de Ghetaldi            
Name:
Dario de Ghetaldi
           
Firm:
Corey, Luzaich, de Ghetaldi & Riddle LLP
     
Attorneys for Holders of Fire Victim Claims

   

 

By:
/s/ Michael S. Danko            
Name:
Michael S. Danko
           
Firm:
Danko Meredith, Trial Lawyers
     
Attorneys for Holders of Fire Victim Claims

   

 

By:
/s/ Eric Gibbs            
Name:
Eric Gibbs
           
Firm:
Gibbs Law Group LLP
     
Attorneys for Holders of Fire Victim Claims

   

 
 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ Dave Fox
           
Name:
Dave Fox
           
Firm:
Fox Law, APC
     
Attorneys for Holders of Fire Victim Claims

   

 
 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ Frank M. Pitre            
Name:
Frank M. Pitre
           
Firm:
Cotchett, Pitre & McCarthy
     
Attorneys for Holders of Fire Victim Claims
   

 
 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ Donald Dowling            
Name:
Donald Dowling
           
Firm:
Ross, Hackett, Dowling, Valencia & Walti
     
Attorneys for Holders of Fire Victim Claims
   

 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ Gerald Singleton            
Name:
Gerald Singleton
           
Firm:
Singleton Law Firm, APC
     
Attorneys for Holders of Fire Victim Claims
   

 
 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ Steven J. Skikos            
Name:
Steven J. Skikos
           
Firm:
Skikos, Crawford, Skikos & Joseph
     
Attorneys for Holders of Fire Victim Claims
   

 
 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ Tom Tosdal            
Name:
Tom Tosdal
           
Firm:
Tosdal Law Firm
     
Attorneys for Holders of Fire Victim Claims
   

 
 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ Khaldoun A. Baghdadi            
Name:
Khaldoun A. Baghdadi, Esq.
           
Firm:
Walkup, Melodia, Kelly & Schoenberger
     
Attorneys for Holders of Fire Victim Claims
   

 
 

[First Amendment to the Restructuring Support Agreement]

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CONSENTING FIRE CLAIMANT
PROFESSIONAL
                 
By:
/s/ Mikal Watts
           
Name:
Mikal Watts
           
Firm:
Watts Guerra LLP
     
Attorneys for Holders of Fire Victim Claims
   

 
 

[First Amendment to the Restructuring Support Agreement]

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SHAREHOLDER PROPONENT
                 
By:
Abrams Capital Management, L.P. on

behalf of certain funds and accounts it

manages or advises

             
By: Abrams Capital Management,

LLC, its General Partner

           
Signature:

/s/ David Abrams
    Name:
David Abrams
   
Title:
Managing Member
     

   

 
 

[First Amendment to the Restructuring Support Agreement]

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SHAREHOLDER PROPONENT
                 
By:
Knighthead Capital

Management, LLC

on behalf of certain funds and

accounts it manages or advises

           
Signature:

/s/ Thomas A. Wagner     Name:
Thomas A. Wagner
   
Title:
Managing Member
     

   

 
 

[First Amendment to the Restructuring Support Agreement]