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| Section      1. | Formation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1             |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|
|            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |          |
| Section      2. | Principal      Place of Business                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 1             |
|            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |          |
| Section      3. | Other      Business of Members                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1             |
|            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |          |
| Section      4. | Accounting      and Reports for the Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1             |
| a.              | Records      and      Accounting                                                                                                                                                                     | 1             |
| b.              | Access      to      Records                                                                                                                                                                          | 1             |
| c.              | Outside      Consultants                                                                                                                                                                             | 1             |
|            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |          |
| Section      5. | Membership      Interests and Capital Accounts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 2             |
| a.              | Membership      Interests and      Organization                                                                                                                                                      | 2             |
| b.              | Admission      of Additional      Members                                                                                                                                                            | 2             |
| c.              | Certificates      for Membership      Interest                                                                                                                                                       | 2             |
| d.              | Addition      to or Withdrawal of Capital      Contributions                                                                                                                                         | 2             |
|            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |          |
| Section      6. | Member      Meetings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 2             |
| a.              | Place      of Holding      Meetings                                                                                                                                                                  | 2             |
| b.              | Quorum                                                                                                                                                                                               | 2             |
| c.              | Adjournments                                                                                                                                                                                         | 2             |
| d.              | Annual      Meeting                                                                                                                                                                                  | 2             |
| e.              | Special      Meetings                                                                                                                                                                                | 3             |
| f.              | Conduct      of      Meetings                                                                                                                                                                        | 3             |
| g.              | Voting                                                                                                                                                                                               | 4             |
| h.              | Proxies                                                                                                                                                                                              | 4             |
| i.              | Notice                                                                                                                                                                                               | 5             |
| j.              | Consents                                                                                                                                                                                             | 5             |
|            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |          |
| Section      7. | Management      and Control of the Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 5             |
| a.              | Management      of the Company by      Managers                                                                                                                                                      | 5             |
| b.              | Classification                                                                                                                                                                                       | 5             |
| c.              | Nominations                                                                                                                                                                                          | 5             |
| d.              | Qualifications;      Declaration of      Vacancy                                                                                                                                                     | 5             |
| e.              | Removal                                                                                                                                                                                              | 6             |
| f.              | Powers                                                                                                                                                                                               | 7             |
| g.              | Filling      of      Vacancies                                                                                                                                                                       | 7             |
| h.              | Annual      and Regular      Meetings                                                                                                                                                                | 7             |
| i.              | Special      Meetings                                                                                                                                                                                | 8             |
| j.              | Place      of Meetings; Telephone      Meetings                                                                                                                                                      | 8             |
| k.              | Quorum                                                                                                                                                                                               | 8             |
| l.              | Compensation                                                                                                                                                                                         | 8             |
| m.              | Committees                                                                                                                                                                                           | 8             |
| n.              | Consents                                                                                                                                                                                             | 8             |
|            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |          |
| Section      8. | Officers                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   9 |
| a.              | Election,      Tenure and      Compensation                                                                                                                                                          | 9             |
| b.              | Powers      and Duties of the Chairman of the Board of      Managers                                                                                                                                 | 9             |

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| c.               | Powers      and Duties of      President                                                                                                                                                                | 9      |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| d.               | Powers      and Duties of Vice      President                                                                                                                                                           | 9      |
| e.               | Power      and Duties of      Secretary                                                                                                                                                                 | 9      |
| f.               | Powers      and Duties of      Treasurer                                                                                                                                                                | 10     |
| g.               | Delegation      of      Duties                                                                                                                                                                          | 10     |
| h.               | Removal                                                                                                                                                                                                 | 10     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| Section      9.  | Committees                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 10     |
| a.               | Executive,      Audit, Compensation and Nominating/Governance Committees                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 10     |
| b.               | Powers      and Duties of the Executive      Committee                                                                                                                                                  | 10     |
| c.               | Powers      and Duties of the Audit      Committee                                                                                                                                                      | 10     |
| d.               | Powers      and Duties of the Compensation      Committee                                                                                                                                               | 11     |
| d.(1)            | Powers      and Duties of the Nominating/Governance      Committee                                                                                                                                      | 11     |
| e.               | Meetings                                                                                                                                                                                                | 11     |
| f.               | Compensation                                                                                                                                                                                            | 11     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| Section      10. | Profits      or Losses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 11     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| Section      11. | Distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 11     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| Section      12. | Dissolution                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 11     |
| a.               | Events      Causing      Dissolution                                                                                                                                                                    | 11     |
| b.               | Winding      Up the      Company                                                                                                                                                                        | 11     |
| c.               | Gains      or Losses in Winding      Up                                                                                                                                                                 | 12     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| Section      13. | Indemnity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 12     |
| a.               | Right      to Indemnification –      General                                                                                                                                                      | 12     |
| b.               | Certain      Provisions Respecting Indemnification for and Advancement of      Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 12     |
| c.               | Procedure      for Determination of Entitlement to      Indemnification                                                                                                                                 | 13     |
| d.               | Presumptions      and Effect of Certain      Proceedings                                                                                                                                                | 14     |
| e.               | Right      of Claimant to Bring      Suit                                                                                                                                                               | 14     |
| f.               | Non-Exclusivity      and Survival of      Rights                                                                                                                                                        | 15     |
| g.               | Definitions                                                                                                                                                                                             | 16     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| Section      14. | Notices                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 17     |
| a.               | Manner      of Giving      Notice                                                                                                                                                                       | 17     |
| b.               | Waiver      of      Notice                                                                                                                                                                              | 17     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| Section      15. | General      Provisions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 17     |
| a.               | Choice      of      Law                                                                                                                                                                                 | 17     |
| b.               | Binding      Effect                                                                                                                                                                                     | 17     |
| c.               | Gender      and      Plurality                                                                                                                                                                          | 17     |
| d.               | Captions                                                                                                                                                                                                | 17     |
| e.               | Severability                                                                                                                                                                                            | 17     |
| f.               | Integration                                                                                                                                                                                             | 18     |

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| Section      5. | Membership      Interests and CapitalAccounts. |
|-----------------|------------------------------------------------|

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|   | (1) | Determine      the Membership Interests outstanding and the voting power of each, the      Membership Interests represented at the meeting, the existence of quorum,      and the authenticity, validity and effect of  proxies; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | Report      to the board of managers the results based on the information assembled by      the inspectors; and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------|

|   | (6) | Do      any other acts that may be proper to conduct the election or vote with      fairness to the Members. |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

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|   | (i) | declare      an office held by a manager vacant, fill a vacancy on the board of      managers or remove an officer of theCompany; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------|

| (ii)   | submit      a proposal to the Members for action by the  Members; |
|------------------|-------------------------------------------------------------------|

| (iii)   | appoint      a manager to or remove a manager from a committee of the board of      managers; or |
|-------------------|--------------------------------------------------------------------------------------------------|

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|   | (i) | The      filing of an affidavit in accordance with Section 1335.1 of the LaLLCL;      or |
|--------|-----|------------------------------------------------------------------------------------------|

|   | (ii) | The      entry of a judicial decree of dissolution under Section 1335 of the      LaLLCL. |
|--------|------|-------------------------------------------------------------------------------------------|

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| Section      14. | Notices. |
|------------------|----------|

| Section      15. | General      Provisions. |
|------------------|--------------------------|

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| COMPANY: | CLECO      POWER LLC                                                                             |
|----------|--------------------------------------------------------------------------------------------------|
|     |                                                                                             |
|     | By:           /s/ Michael H.      Madison |
|     |                                                                                             |
|     | Name:  Michael      H. Madison                                                         |
|     | Title:    Manager      & CEO                                             |

| MEMBER: | CLECO      CORPORATION                                                                           |
|---------|--------------------------------------------------------------------------------------------------|
|    |                                                                                             |
|    | By:           /s/ Michael H.      Madison |
|    |                                                                                             |
|    | Name:  Michael      H. Madison                                                         |
|    | Title:    Director,      President & CEO                                 |

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| Member                 | Membership      Interest | Cash      Contribution                  |
|------------------------|--------------------------|-----------------------------------------|
| Cleco      Corporation | 100%                     |      $1,000.00 |
|                   |                     |                                    |

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