EXHIBIT D

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 1

of 30
Category Date Name Hours Description of Task(s)

3 6/2/19 Peter Gnatowski 1.8 Edits to waterfall and return analysis based on internal comments

3 6/2/19 Peter Gnatowski 2.1 Additional edits to waterfall analysis

3 6/3/19 Brendan Murphy 1.1 Review and comments to waterfall analysis / presentation for Committee

3 6/3/19 Brent Williams 1.7 Review and comment on waterfall analysis 

3 6/3/19 Brent Williams 1.6 Review and comment on capex analysis

3 6/3/19 Peter Gnatowski 0.8 Edits to capital expenditure analysis

3 6/4/19 Brent Williams 1.4 Review and comment on updated waterfall and capex analyses

3 6/4/19 Peter Gnatowski 1.2 Reviewed updated capex analysis; comments with RJ re: same

3 6/4/19 Peter Gnatowski 0.5 Further review and comments on capex analysis 

3 6/4/19 Riley Jacobs 1.6 Research historical and projected capex spend

3 6/4/19 Riley Jacobs 1.9 Created analysis and summary of historical and projected capex spend

3 6/4/19 Riley Jacobs 2.1 Additional revisions to capex analysis based on internal comments

3 6/4/19 Riley Jacobs 1.5 Further edits and additions to capex overview

3 6/5/19 Brendan Murphy 1.5 Review and comments to waterfall analysis / presentation for Committee

3 6/5/19 Brendan Murphy 1.4 Analysis and diligence re: capital expenditures

3 6/5/19 Brent Williams 3.6 Review and comment on updated waterfall analysis for TCC

3 6/5/19 Peter Gnatowski 1.1 Additional edits to Capex analysis; internal emails re: same

3 6/5/19 Peter Gnatowski 1.8 Reviewed various documents re: historical and projected capex from Debtors

3 6/6/19 Naeem Muscatwalla 0.9 Discuss and update relevant bond pricing details

3 6/7/19 Brendan Murphy 2.3 Review and comments to waterfall analysis and related presentation

3 6/7/19 Brent Williams 1.6 Review and comments on waterfall analysis and presentation

3 6/7/19 Peter Gnatowski 2.1 Edits to waterfall analysis based on updated assumptions and internal comments

3 6/7/19 Peter Gnatowski 1.7 Edits to equity waterfall analysis based on comments from BW

3 6/8/19 Brendan Murphy 2.3 Review and comments to updated waterfall analysis 

3 6/8/19 Brent Williams 1.2 Review and comment on waterfall and recovery analysis 

3 6/10/19 Alex Gebert 2.2 Researched and summarized Debtors' cost savings initiatives

3 6/10/19 Alex Gebert 1.4 Review of financial impact of cost savings in latest forecast

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 2

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

3 6/10/19 Brendan Murphy 1.9 Review and comments to equity waterfall analysis and related presentation

3 6/10/19 Brent Williams 1.5 Review financial model and related equity waterfall analysis

3 6/10/19 Naeem Muscatwalla 1.6 Research on PG&E bond prices and internal circulation of summary

3 6/10/19 Naeem Muscatwalla 1.5 Refresh to bond pricing details and relevant analysis

3 6/11/19 Alex Gebert 2.0 Updates to waterfall analysis per discussion of TCC terms

3 6/11/19 Brendan Murphy 1.3 Review and comments on latest waterfall analysis for presentation to TCC

3 6/11/19 Matt Merkel 2.2 Reviewed bond pricing summary data

3 6/14/19 Alex Gebert 2.0 Lookback and analysis of Debtors' NOL amounts, disclosures, and treatment

3 6/14/19 Alex Gebert 0.5 Emails and summary re: Debtors' NOL 

3 6/14/19 Peter Gnatowski 1.4 Reviewed and researched PG&E NOLs; emails re: same

3 6/17/19 Brendan Murphy 1.8 Review and comments to Waterfall Analysis / Presentation for Counsel/Committee

3 6/17/19 Peter Gnatowski 1.8 Edits to waterfall analysis based on comments from BW

3 6/17/19 Peter Gnatowski 1.7 Additional edits to waterfall analysis based on commented from AS and BM

3 6/18/19 Alex Stevenson 0.5 Review amended waterfall analysis and comment

3 6/18/19 Brendan Murphy 1.7 Additional review and comment of waterfall presentation 

3 6/18/19 Brent Williams 1.8 Review and comment on presentations on waterfall and recovery

3 6/18/19 Peter Gnatowski 2.5 Reviewed and edited updated waterfall analysis from AG and related presentation

3 6/18/19 Peter Gnatowski 2.4 Additional edits to waterfall analysis based on comments from AS

3 6/19/19 Peter Gnatowski 1.8 Additional edits to waterfall analysis based on internal comments

3 6/20/19 Naeem Muscatwalla 2.1 Refresh to bond pricing details and relevant analysis

3 6/25/19 Peter Gnatowski 0.5 Reviewed analysis from junior banker re: make-whole for bondholders

3 6/26/19 Brent Williams 1.3 Review and comment on updated make-whole analysis and financial model 

3 6/26/19 Matt Merkel 2.5 Updated makes whole claims analysis based on internal discussions

3 6/26/19 Peter Gnatowski 0.8 Reviewed updated make-whole analysis from junior banker; comments re: same

4 6/3/19 Alex Gebert 2.4 Analyze and prepare 13-week cash flow variance report

4 6/3/19 Alex Gebert 1.5 Compare updated 13-week cash flow variance report to prior forecast

4 6/3/19 Brendan Murphy 1.0 Review of 13wk CF / DIP variance reporting package from Debtor

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 3

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

4 6/3/19 Brendan Murphy 0.5 Reviewed and comment on questions re: 13wcf / DIP reporting

4 6/3/19 Peter Gnatowski 1.7 Reviewed comparison and analysis on updated DIP 13wcf; emails with junior banker re: same

4 6/3/19 Peter Gnatowski 0.7 Drafted questions / observations on latest DIP 13wcf

4 6/3/19 Peter Gnatowski 1.2 Reviewed responses from Debtors on 13wcf questions; update 13wcf presentation re: Debtors comments

4 6/3/19 Riley Jacobs 1.8 Review and summarize Debtor MOR

4 6/4/19 Alex Stevenson 0.1 Review latest DIP reforecast and related analysis

4 6/4/19 Brendan Murphy 1.8 Review and comments to bi-weekly reporting summary and MOR analysis for Committee

4 6/4/19 Peter Gnatowski 1.8 Reviewed April MOR and MOR presentation prepared by RJ; comments re: same

4 6/4/19 Peter Gnatowski 1.8 Further edits to TCC presentation on DIP and MOR reports

4 6/4/19 Peter Gnatowski 1.2 Reviewed and comment on combined presentation for TCC re: DIP and MOR

4 6/7/19 Alex Gebert 0.9 Review DIP/13wcf variance report

4 6/7/19 Brendan Murphy 0.6 Review of DIP variance reporting package from Debtor

4 6/10/19 Alex Gebert 0.3 Draft questions and internal discussion re: 13wcf variance

4 6/10/19 Alex Gebert 1.6 Prepare 13wcf variance analysis

4 6/10/19 Peter Gnatowski 0.8 Reviewed Debtors' DIP forecast re: liquidity projections

4 6/14/19 Peter Gnatowski 1.5 Reviewed bi-weekly 13 week cash flow report; drafted questions and observations

4 6/24/19 Brendan Murphy 1.0 Review and analysis of DIP 13 wcf reporting documents via data room; emails

4 6/24/19 Peter Gnatowski 1.1 Reviewed 13 week cash flow report from Debtors

4 6/25/19 Alex Gebert 1.5 Review 13wcf and update diligence items

4 6/25/19 Riley Jacobs 1.2 Review DIP variance report

4 6/26/19 Peter Gnatowski 1.1 Reviewed and comment on questions re: 13wcf / DIP reporting

4 6/27/19 Alex Gebert 1.9 Further review of latest 13wcf and variance analysis compared to prior forecast

4 6/27/19 Alex Gebert 3.5 Update 13wcf monitoring deck and related commentary for committee

4 6/27/19 Alex Gebert 2.3 Review and draft diligence re: May 2019 MOR and 13wcf

4 6/27/19 Brendan Murphy 1.4 Review and analysis of DIP Reporting documents via data room

4 6/27/19 Brendan Murphy 0.9 Created and amended due diligence questions for Company re: cash flow report

4 6/27/19 Brendan Murphy 1.5 Reviewed May MOR and related analysis

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 4

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

4 6/27/19 Peter Gnatowski 0.6 Reviewed draft presentation on DIP and MOR reporting; comments with junior team re: same

4 6/27/19 Riley Jacobs 1.2 Review and edit MOR presentation

4 6/28/19 Brendan Murphy 0.8 Created and amended additional due diligence questions for Company re: cash flow report

4 6/28/19 Brendan Murphy 1.2 Review and comment to MOR presentation 

4 6/28/19 Peter Gnatowski 0.8 Reviewed May MOR; discussions with AG re: analysis and summary

4 6/28/19 Peter Gnatowski 1.5 Reviewed and edit latest 13wcf variance presentation from AG

5 6/3/19 Brendan Murphy 0.9 Review of various documents posted to Debtor's data room

5 6/3/19 Peter Gnatowski 1.3 Reviewed various Company filings including SEC filings and rate cases re: capex

5 6/4/19 Alex Gebert 1.0 Prepare for and discuss internally Debtors' tort liability disclosure and related reporting

5 6/4/19 Alex Gebert 0.6 Research and save down source files re: Debtors' tort liability disclosure

5 6/4/19 Alex Gebert 2.2 Track and analyze Debtors' historical tort liability disclosure re: 2015 fires

5 6/4/19 Alex Gebert 2.8 Track and analyze Debtors' historical tort liability disclosure re: 2018 fires

5 6/4/19 Alex Gebert 2.5 Track and analyze Debtors' historical tort liability disclosure re: 2017 fires

5 6/4/19 Alex Gebert 1.5 Additional analysis re: Debtors' historical tort liability disclosure re: 2017 fires

5 6/4/19 Alex Gebert 2.4 Additional analysis re: Debtors' historical tort liability disclosure re: 2018 fires

5 6/4/19 Brendan Murphy 2.3 Analysis and diligence for Counsel re: Liabilities analysis per public documents

5 6/4/19 Brendan Murphy 1.3 Read Credit Agreements / Indentures / SEC Filings (10K, 10Q, 8K) and other public documents

5 6/4/19 Brent Williams 1.7 Review and analyze Debtors' diligence documents re: asset holdings

5 6/4/19 Naeem Muscatwalla 2.7 Review and analyze of Debtors' Q1 Earnings Report

5 6/5/19 Alex Gebert 3.0 Prepare presentation re: Debtors' historical liability disclosure

5 6/5/19 Alex Gebert 1.5 Address internal comments re: Debtors' historical liability disclosure

5 6/5/19 Brendan Murphy 1.4 Review and comment on historical liability disclosures analysis per counsel request

5 6/5/19 Peter Gnatowski 1.5 Reviewed and comment on analysis from junior banker re: liabilities disclosures

5 6/5/19 Peter Gnatowski 1.8 Additional review of liability analysis and review of Debtors' SEC filings re: same

5 6/5/19 Peter Gnatowski 2.1 Continued review of SEC filings from the Debtors re: liabilities disclosures

5 6/6/19 Alex Gebert 2.2 Further analysis of Debtors' historical liability disclosure (summary/comparison)

5 6/6/19 Alex Gebert 1.8 Further preparation of Debtors' historical liability disclosure (Non-fire related liabilities)

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 5

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

5 6/6/19 Alex Gebert 1.2 Address internal questions re: Debtors' historical liability and update analysis

5 6/6/19 Brendan Murphy 1.2 Review and comment on non-fire related liabilities summary and analysis

5 6/6/19 Brendan Murphy 1.6 Additional review and comment on historical liability disclosures per counsel request

5 6/6/19 Peter Gnatowski 1.2 Comments to junior banker re: edits to liabilities disclosure analysis

5 6/6/19 Peter Gnatowski 1.5 Reviewed and modified liabilities disclosure analysis

5 6/7/19 Alex Gebert 1.0 Source data for non-fire related liability disclosure

5 6/7/19 Brendan Murphy 2.2 Reviewed various SEC filings re: wildfire liabilities from Debtors

5 6/7/19 Brendan Murphy 1.8 Review and comment on updated analysis of historical liabilities disclosures 

5 6/7/19 Naeem Muscatwalla 1.0 Review and circulation of items in Debtor's data room

5 6/7/19 Peter Gnatowski 1.5 Additional edits to liabilities disclosure analysis based on comments from BM

5 6/7/19 Peter Gnatowski 2.2 Reviewed additional historical SEC filings and edits to liabilities disclosure analysis

5 6/7/19 Peter Gnatowski 1.8 Additional edits to liabilities disclosure analysis based on SEC filings from the Debtors

5 6/7/19 Peter Gnatowski 1.2 Additional review of historical SEC filings re: liabilities disclosures

5 6/8/19 Peter Gnatowski 2.3 Additional research of non-wildfire liabilities disclosure based on comments from counsel re: non-fire 

liabilities

5 6/11/19 Alex Gebert 0.7 Review historical insurance coverage and policy at Debtor

5 6/11/19 Alex Gebert 2.2 Research insurance policies proposed by Debtor

5 6/11/19 Alex Gebert 3.5 Historical research of Debtors' disclosure re: Non-fire liabilities

5 6/11/19 Brendan Murphy 2.3 Reviewed documents re: non-fire liabilities analysis per public documents

5 6/11/19 Brendan Murphy 1.7 Review and comment on liability disclosure analysis from junior team

5 6/11/19 Naeem Muscatwalla 0.9 Review and circulation of items in Debtor's data room

5 6/11/19 Peter Gnatowski 0.3 Discussions with junior banker re: additional research on other liability disclosures for prior years

5 6/11/19 Peter Gnatowski 2.3 Reviewed supporting data for other liabilities analysis based on comments from counsel

5 6/11/19 Peter Gnatowski 1.1 Research into prior district settlement per counsel's request; emails re: same

5 6/11/19 Peter Gnatowski 1.4 Researched SEC filings re: other liability disclosures per counsel's request

5 6/12/19 Alex Gebert 3.0 Trend analysis of Debtors' disclosure re: Non-fire liabilities

5 6/12/19 Brendan Murphy 1.3 Analysis and diligence for Counsel re: Liabilities analysis per public documents

5 6/12/19 Peter Gnatowski 1.8 Research of specific fire liability disclosures per counsel's request

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 6

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

5 6/12/19 Peter Gnatowski 1.4 Prepared alternative analysis of fire liability findings for counsel; emails re: same

5 6/13/19 Alex Gebert 2.5 Review Debtors' wildfire disclosure statements

5 6/13/19 Alex Gebert 3.0 Prepare slides re: to Liability Disclosure based on comments from PG

5 6/13/19 Brendan Murphy 1.8 Review and comment on revised liabilities analysis 

5 6/13/19 Brendan Murphy 1.1 Reviewed SEC filings from the Debtors re: liability disclosures

5 6/13/19 Peter Gnatowski 0.5 Comments to counsel's questions re: fire liability disclosures

5 6/13/19 Peter Gnatowski 1.8 Additional research of liability disclosures per counsel's request

5 6/14/19 Brendan Murphy 0.9 Additional review and comments of liabilities analysis and presentations

5 6/14/19 Peter Gnatowski 1.8 Drafted summary of fire disclosures per Counsel's request

5 6/15/19 Peter Gnatowski 2.4 Additional liability and disclosure research per request by counsel

5 6/17/19 Alex Gebert 2.4 Edit and prepare slides re: Debtors' Liab. Disclosure based on internal discussions

5 6/17/19 Brendan Murphy 1.7 Analysis and diligence for Counsel re: Liabilities analysis per public documents

5 6/17/19 Brendan Murphy 0.9 Reviewed due diligence asset schedules provided by Debtors

5 6/17/19 Brent Williams 2.4 Reviewed and comment re: Debtors' schedules re: assets

5 6/17/19 Peter Gnatowski 1.3 Reviewed summary liability summary prepared by junior banker per request from counsel

5 6/17/19 Peter Gnatowski 2.0 Reviewed additional Company filings re: liability disclosure

5 6/17/19 Peter Gnatowski 1.5 Edits to summary liability summary

5 6/17/19 Peter Gnatowski 0.6 Reviewed schedule of non-production assets; emails with team re: same

5 6/19/19 Alex Gebert 0.5 Review Ghost Ship disclosure and related liability amounts

5 6/19/19 Alex Gebert 0.5 Request and obtain access to Debtors' discovery case data

5 6/19/19 Alex Gebert 2.4 Review Debtors' discovery case documents

5 6/19/19 Alex Gebert 2.4 Edit and prepare slides re: Debtors' Liab. Disclosure based on internal discussions

5 6/19/19 Brendan Murphy 1.1 Review and analysis of diligence documents re: Mutual Assistance Motion 

5 6/19/19 Brendan Murphy 1.3 Additional review of Debtors' asset schedule including production and non-production assets

5 6/19/19 Brent Williams 1.4 Review corporate asset schedules; internal discussions

5 6/19/19 Peter Gnatowski 1.2 Reviewed updated liability disclosure presentation from junior banker per counsel request

5 6/19/19 Peter Gnatowski 2.0 Additional edits to liability disclosure presentation per comment from counsel

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 7

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

5 6/20/19 Brendan Murphy 0.8 Research and review of insurance policies and related due diligence

5 6/20/19 Peter Gnatowski 0.8 Researched committee questions re: insurance; emails with BW re: same

5 6/20/19 Peter Gnatowski 2.1 Additional research on insurance per comments from BM; discussions with RJ re: same

5 6/21/19 Brendan Murphy 0.8 Research and analysis re: hydro-electric assets

5 6/21/19 Brendan Murphy 0.5 Revised analysis for Counsel re: Liabilities analysis per public documents

5 6/21/19 Brendan Murphy 1.6 Review and comment on insurance analysis and summary 

5 6/21/19 Brent Williams 2.2 Reviewed hydro and other asset schedules

5 6/24/19 Peter Gnatowski 1.0 Reviewed insurance disclosures; discussions with junior banker re: analysis

5 6/24/19 Peter Gnatowski 1.2 Reviewed updated documents for insurance information; internal discussions re: same

5 6/24/19 Riley Jacobs 1.9 Research insurance policies and summary

5 6/24/19 Riley Jacobs 2.4 Draft summary of insurance overview and summary

5 6/25/19 Brendan Murphy 0.8 Analysis of owned property report via Debtor

5 6/25/19 Riley Jacobs 1.7 Edit insurance summary presentation

5 6/26/19 Peter Gnatowski 0.7 Reviewed insurance summary and analysis prepared by junior banker; comments re: edits

5 6/27/19 Matt Merkel 2.7 Updated financial due diligence list for Debtors

5 6/27/19 Riley Jacobs 2.3 Update internal tracker for diligence from Debtor

5 6/27/19 Riley Jacobs 1.8 Work on diligence request list from Debtor

5 6/27/19 Riley Jacobs 1.8 Internal communications and edits to diligence request list

5 6/28/19 Brendan Murphy 0.6 Preparation for and internal discussion re: master diligence list 

5 6/28/19 Brent Williams 1.9 Reviewed and comment on insurance and settlement overviews

5 6/28/19 Matt Merkel 2.2 Drafted PE claims settlement summary

5 6/28/19 Peter Gnatowski 0.5 Edits to information request list for the Debtors 

5 6/28/19 Riley Jacobs 2.0 Additional edits to overview of Debtors' insurance policies 

5 6/29/19 Brendan Murphy 0.8 Reviewed monthly reporting reports for May including real estate, exchange motion and hedging

5 6/29/19 Peter Gnatowski 1.2 Reviewed monthly reporting posted to Debtors' data room

5 6/30/19 Brent Williams 1.2 Review Debtors' asset schedules including real estate holdings

6 6/1/19 Brent Williams 1.6 Review of wildfire safety reports 

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 8

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

6 6/1/19 Peter Gnatowski 1.8 Reviewed Blue Ribbon report and analysis presentation for TCC from junior banker

6 6/1/19 Peter Gnatowski 2.1 Edits to Blue Ribbon analysis presentations; emails with junior banker re: further edits

6 6/2/19 Alex Gebert 1.3 Discuss internally and edits to Blue Ribbon Comm report

6 6/2/19 Alex Gebert 1.5 Address senior level comments re: Blue Ribbon Comm Report

6 6/2/19 Brendan Murphy 1.0 Review Blue Ribbon report 

6 6/2/19 Brendan Murphy 1.5 Comments re: Blue Ribbon analysis and presentation

6 6/2/19 Peter Gnatowski 1.5 Reviewed updated Blue Ribbon analysis presentation for TCC from junior banker

6 6/3/19 Alex Gebert 1.8 Address additional comments re: WSP / Blue Ribbon report

6 6/3/19 Brendan Murphy 1.6 Review of Wildfire due diligence provided by Debtor

6 6/3/19 Peter Gnatowski 1.8 Reviewed and comments to Wildfire presentation from junior bankers

6 6/3/19 Peter Gnatowski 2.1 Edits to Wildfire meeting presentation for the TCC; emails with BM re: same

6 6/3/19 Peter Gnatowski 1.0 Further changes to updated wildfire slides for TCC presentation

6 6/3/19 Peter Gnatowski 2.3 Further edits to Blue Ribbon updated presentation of the TCC; emails with BM re: same

6 6/4/19 Brendan Murphy 1.7 Review and provide comments to wildfire presentation for Committee

6 6/4/19 Peter Gnatowski 1.8 Reviewed various wildfire reports from PG&E website re: request from counsel

6 6/4/19 Peter Gnatowski 1.8 Further edits to Wildfire meeting presentation based on comments from BM; emails with BW re: same

6 6/5/19 Brendan Murphy 1.1 Review of Wildfire due diligence provided by Debtor

6 6/5/19 Brendan Murphy 2.3 Review of and comments to Wildfire materials for the TCC and Counsel

6 6/5/19 Brent Williams 2.1 Review and comment on Wildfire materials for the TCC

6 6/6/19 Alex Gebert 1.3 Edit and consolidate Wildfire Mitigation Meeting presentation

6 6/6/19 Brendan Murphy 1.4 Review of Wildfire due diligence provided by Debtor

6 6/6/19 Brendan Murphy 1.7 Review of and comments to Wildfire materials for the TCC and Counsel

6 6/6/19 Brent Williams 1.8 Review wildfire safety diligence materials provided by Debtor

6 6/6/19 Peter Gnatowski 1.8 Additional edits to Wildfire presentation to the TCC based on comments from counsel

6 6/6/19 Peter Gnatowski 0.5 Further edits to Wildfire presentation to TCC based on comments from BM

6 6/7/19 Brendan Murphy 1.5 Review of and comments to Wildfire materials for the TCC and Counsel

6 6/7/19 Brent Williams 1.4 Review and comment on wildfire presentation for TCC

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 9

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

6 6/7/19 Peter Gnatowski 0.5 Reviewed and comment on Quanta summary prepared by junior banker

6 6/7/19 Riley Jacobs 1.8 Review and summarize Quanta Energy Transmission Inspection Agreement

6 6/10/19 Peter Gnatowski 0.8 Summarized Quanta April 2019 report observations; internal emails re: same

6 6/11/19 Brent Williams 2.1 Additional comment on wildfire presentation for TCC

6 6/18/19 Brent Williams 3.4 Review wildfire legislation documents

6 6/19/19 Alex Gebert 2.7 Review and circulate California wildfire legislative proposal

6 6/19/19 Alex Gebert 2.5 Calculate wildfire allocation for IOUs based on legislative proposal

6 6/19/19 Alex Stevenson 1.8 Review and comment on draft wildfire fund legislation

6 6/19/19 Brendan Murphy 0.6 Preparation for and internal discussion re: Wildfire Victims Fund

6 6/19/19 Peter Gnatowski 2.5 Reviewed amended wildfire legislation

6 6/19/19 Peter Gnatowski 1.1 Reviewed wildfire diligence documents and responses from Debtors

6 6/19/19 Peter Gnatowski 0.7 Reviewed analysis of utility sales in CA analysis per legislative analysis; comments to junior banker re: same

6 6/21/19 Alex Gebert 2.4 Review and circulate Strike Force Progress report

6 6/21/19 Brent Williams 2.1 Review and discussions re: strike force report

6 6/21/19 Peter Gnatowski 2.5 Reviewed CPUC wildfire legislature; emails re: same

6 6/24/19 Brendan Murphy 2.4 Review wildfire documents including Strike Force Report

6 6/25/19 Riley Jacobs 1.8 Review governors strike force proposal report

6 6/26/19 Alex Gebert 1.2 Wildfire fund analysis based on comments from Counsel

6 6/26/19 Brendan Murphy 1.3 Review of Debtor's Wildfire-related due diligence posted to data room

6 6/26/19 Matt Merkel 0.2 Researched wildfire safety documents for Counsel

6 6/26/19 Peter Gnatowski 0.7 Reviewed updated wildfire diligence materials provided by the Debtors; emails re: same

6 6/26/19 Peter Gnatowski 0.8 Reviewed and comment on wildfire update presentation for TCC based on latest information from Debtors

6 6/27/19 Alex Stevenson 0.9 Review CPUC rulings (SB-901) and impact on strategic alternatives

6 6/27/19 Alex Stevenson 0.5 Preparation for and correspondence with internal team re: SB901

6 6/27/19 Brendan Murphy 1.6 Review of CPUC Haga Decision

6 6/27/19 Naeem Muscatwalla 2.3 Developed summary of Newsom's Strike Force Progress Report

6 6/27/19 Peter Gnatowski 1.0 Reviewed CPUC cost recovery decision; internal emails re: same

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 10

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

6 6/28/19 Alex Gebert 0.5 Circulate and review latest state wildfire fund legislation

6 6/28/19 Alex Stevenson 0.6 Preparation for and correspondence with internal team re: AB1054

6 6/28/19 Brendan Murphy 1.6 Review of AB1054 bill via CA legislature

6 6/28/19 Brent Williams 2.7 Review and comment re: Strike Force report and wildfire fund presentation and analysis

6 6/28/19 Matt Merkel 3.1 Reviewed and made direct edits to summary of task force update presentation

6 6/28/19 Matt Merkel 1.0 Reviewed task force update presentation

6 6/28/19 Peter Gnatowski 1.5 Reviewed California bill re: wildfire terms; internal emails re: same

7 6/10/19 Alex Gebert 2.2 Prepared for and participated in call w/ Debtors; drafted meeting notes post-meeting

7 6/10/19 Alex Stevenson 1.2 Preparation for and call with Alix Partners 

7 6/10/19 Brendan Murphy 1.3 Prepared for and participated in call with AlixPartners

7 6/10/19 Brent Williams 1.1 Prepared for and call with Debtors' advisors

7 6/10/19 Peter Gnatowski 1.5 Prepare for and participated in call with AP; reviewed call notes from AG

7 6/13/19 Brendan Murphy 1.5 Preparation for Mediation / settlement discussions

7 6/14/19 Alex Stevenson 6.7 Prepare for and participate in meeting with Debtors and counsel

7 6/14/19 Brendan Murphy 7.2 Preparation for and meeting with Debtor re: Mediation / settlement discussions

7 6/14/19 Brent Williams 6.9 Prepare for and meeting with Debtors

7 6/27/19 Brendan Murphy 0.3 Correspondence with Debtor re: KEIP and CEO Contract questions

7 6/29/19 Brent Williams 0.5 Discussion with AlixPartners; internal comments re: meeting

8 6/6/19 Brendan Murphy 1.4 Prepared for and call with UCC advisors

8 6/6/19 Brent Williams 1.3 Preparation for and call with UCC

8 6/6/19 Peter Gnatowski 1.3 Prepared for and participated in call with UCC advisors

8 6/6/19 Riley Jacobs 1.5 Preparation for and call with UCC Advisors

8 6/28/19 Brendan Murphy 1.1 Prepared for and call with UCC advisors

8 6/28/19 Brent Williams 1.2 Preparation for and call with UCC Advisors

8 6/28/19 Peter Gnatowski 1.2 Prepared for and participated on call with UCC 

9 6/3/19 Brent Williams 1.2 Preparation for and call with interested parties re: case strategy and interests

9 6/4/19 Brent Williams 0.8 Preparation for and call with interested parties re: term sheet 

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 11

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

9 6/5/19 Brent Williams 1.2 Preparation for and call with interested parties re: case interests

9 6/10/19 Alex Stevenson 1.1 Prepare for and participate in meeting with advisors to Ad Hoc Subrogation committee

9 6/10/19 Brendan Murphy 1.3 Preparation for and meeting with Rothschild

9 6/10/19 Brendan Murphy 0.9 Review of materials from Rothschild

9 6/10/19 Brent Williams 1.1 Preparation for and meeting with other advisors re: party interests

9 6/10/19 Brent Williams 0.7 Preparation for and call with other interested parties re: case interests

9 6/10/19 Peter Gnatowski 1.2 Prepared for and participated in meeting with other stakeholder advisors 

9 6/13/19 Brent Williams 0.9 Preparation for and calls with interested parties re: party interests 

9 6/17/19 Brent Williams 0.9 Preparation for and calls with interested parties re: case strategy

9 6/19/19 Brent Williams 0.8 Preparation for and calls with interested parties re: party interests 

9 6/20/19 Brent Williams 1.1 Preparation for and calls with interested parties: term sheet

9 6/21/19 Brent Williams 0.9 Preparation for and calls with interested parties re: party interests 

9 6/24/19 Brendan Murphy 1.3 Preparation for and call with Rothschild

9 6/24/19 Brent Williams 1.1 Preparation for and calls with interested parties

9 6/24/19 Peter Gnatowski 1.2 Prepare for and participate in call with interested parties

9 6/26/19 Brent Williams 2.1 Preparation for and meeting with interested parties

9 6/30/19 Brent Williams 0.5 Preparation for and call with interested party re: mutual interests

10 6/3/19 Brendan Murphy 0.7 Preparation for and discussion with Counsel re: fee application

10 6/4/19 Brendan Murphy 0.9 Preparation and correspondence with Counsel re: Analysis of public documents

10 6/4/19 Brendan Murphy 0.8 Preparation for and correspondence with Counsel re: CF variance analysis and MOR

10 6/4/19 Brent Williams 0.5 Preparation for and communication with counsel re: case strategy

10 6/5/19 Brendan Murphy 1.3 Analysis and diligence for Counsel re: Operating expenditures

10 6/5/19 Brendan Murphy 1.0 Preparation for and correspondence with Counsel re: Changes to Wildfire materials for TCC

10 6/5/19 Brent Williams 0.8 Preparation for and communication with counsel re: committee materials

10 6/6/19 Brendan Murphy 0.8 Preparation, discussion and correspondence with Counsel re: Changes to Wildfire materials for TCC

10 6/6/19 Brent Williams 1.0 Preparation for and communication with counsel re: TCC materials

10 6/7/19 Brendan Murphy 1.1 Analysis and diligence for Counsel re: Capital expenditures

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 12

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

10 6/7/19 Brent Williams 0.7 Preparation for and communication with counsel re: case strategy

10 6/8/19 Brent Williams 1.0 Preparation for and communication with counsel re: committee materials

10 6/8/19 Brent Williams 1.1 Preparation for and communication with counsel re: bondholder term sheet

10 6/10/19 Brendan Murphy 2.1 Confidential Analysis for Counsel re: Meeting with TCC members

10 6/10/19 Brendan Murphy 0.8 Preparation, correspondence, and discussion with Counsel re: documents for TCC

10 6/10/19 Matt Merkel 2.6 Researched questions from counsel in preparation for TCC meeting re: recoveries

10 6/11/19 Brendan Murphy 1.1 Analysis and diligence for Counsel re: Capital expenditures

10 6/11/19 Brendan Murphy 1.1 Analysis for Counsel re: meeting with TCC members

10 6/11/19 Brendan Murphy 0.6 Preparation, correspondence, and discussion with Counsel re: finalizing documents for TCC

10 6/11/19 Brent Williams 0.6 Communication with counsel re: TCC agenda and materials

10 6/11/19 Peter Gnatowski 0.6 Prepare for and participate in call with counsel re: other liabilities disclosure analysis

10 6/13/19 Brent Williams 1.5 Preparation for TCC meeting and pre-meeting with counsel

10 6/16/19 Brent Williams 0.6 Preparation for and discussion with counsel re: plan process and strategy

10 6/17/19 Brendan Murphy 1.6 Confidential Analysis for Counsel re: Materials for TCC members

10 6/17/19 Brendan Murphy 0.9 Correspondence / discussion with Counsel re: documents for TCC

10 6/17/19 Brent Williams 0.8 Preparation for and discussion with counsel re: plan process presentation for TCC

10 6/17/19 Peter Gnatowski 0.2 Reviewed critical dates memo prepared by counsel

10 6/17/19 Peter Gnatowski 2.8 Reviewed and edited presentation on plan process per counsel request

10 6/18/19 Brendan Murphy 0.9 Correspondence / discussion with Counsel re: POR, Term Sheet, and Case Strategy

10 6/18/19 Brent Williams 0.9 Preparation for and discussion with counsel re: case timeline and plan process

10 6/18/19 Peter Gnatowski 1.4 Additional edits to bankruptcy process presentation based on comments from counsel

10 6/19/19 Brendan Murphy 1.1 Correspondence / discussion with Counsel re: bondholder proposal

10 6/19/19 Brendan Murphy 0.6 Correspondence / discussion with Counsel re: Mutual Assistance Motion

10 6/19/19 Brendan Murphy 0.5 Correspondence / discussion with Counsel re: Plan Process

10 6/19/19 Brent Williams 0.8 Preparation for and discussion with counsel re: bondholder proposal

10 6/20/19 Brent Williams 0.6 Preparation for and discussion with counsel re: TCC meeting

10 6/21/19 Brent Williams 0.7 Preparation for and discussion with counsel re: wildfire documents and update

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 13

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

10 6/21/19 Brent Williams 1.3 Discussions with counsel re: term sheets

10 6/21/19 Brent Williams 0.7 Discussions with counsel re: case strategy and interested party update

10 6/24/19 Alex Gebert 0.9 Address wildfire questions from Counsel

10 6/24/19 Brent Williams 1.2 Preparation for and discussion with counsel re: case strategy

10 6/24/19 Peter Gnatowski 0.3 Respond to questions from counsel re: wildfire liabilities

10 6/24/19 Peter Gnatowski 0.5 Review and comment on Williams declaration re: relief from stay

10 6/24/19 Peter Gnatowski 0.4 Discussion with counsel re: KEIP motion

10 6/25/19 Brendan Murphy 0.6 Correspondence / discussion with Counsel re: Debtor's due diligence responses

10 6/25/19 Brendan Murphy 0.7 Correspondence / discussion with Counsel re: KEIP and CEO Contract

10 6/25/19 Brent Williams 0.5 Preparation for and discussion with counsel re: KEIP and CEO motion

10 6/25/19 Peter Gnatowski 0.3 Emails and research re: real estate questions from counsel

10 6/27/19 Brendan Murphy 0.8 Correspondence / discussion with Counsel re: Debtor's diligence deficiencies

10 6/27/19 Peter Gnatowski 1.4 Reviewed prior due diligence request lists per counsel request; discussions with team re: same

10 6/28/19 Brendan Murphy 0.9 Correspondence / discussion with Counsel re: Debtor's diligence deficiencies

10 6/29/19 Brent Williams 0.5 Discussions with counsel re: outstanding diligence items

10 6/30/19 Brendan Murphy 0.9 Correspondence with Counsel re: Lazard fee statement

11 6/18/19 Brendan Murphy 1.5 Review and Comments to Pleadings and Related Declaration re: Relief from Stay

11 6/20/19 Brendan Murphy 1.5 Addition review and comment on Relief from Stay Declaration

11 6/20/19 Brent Williams 1.6 Review and comment on declaration for relief from stay

11 6/24/19 Brendan Murphy 1.9 Review and Comments to Pleadings and Related Declaration re: Relief from Stay

11 6/24/19 Brent Williams 1.8 Review and comment Relief of Stay draft and related declaration

11 6/29/19 Brendan Murphy 0.7 Review and Comments to Pleadings and Related Declaration re: Relief from Stay

12 6/2/19 Brent Williams 1.0 Preparation for and communication with TCC members re: waterfall and recoveries

12 6/3/19 Brent Williams 1.1 Preparation for and communication with committee members re: waterfall

12 6/3/19 Brent Williams 1.0 Review and comment on materials for committee member meeting

12 6/4/19 Brendan Murphy 1.4 Review and comments to waterfall analysis / presentation for Committee

12 6/4/19 Brent Williams 1.2 Preparation for and communication with committee members re: case strategy

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 14

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

12 6/5/19 Brent Williams 1.2 Additional comments on updated committee presentations re: waterfall and recoveries

12 6/6/19 Brendan Murphy 1.2 Review and comments to waterfall analysis / presentation for Committee

12 6/6/19 Brent Williams 1.9 Review and comment on waterfall analysis for TCC

12 6/7/19 Brent Williams 0.8 Preparation for and Discussion (Internal) on committee related presentation materials 

12 6/7/19 Peter Gnatowski 1.5 Edits to waterfall presentation for TCC

12 6/9/19 Brent Williams 1.3 Internal comments re: analyses and materials for TCC meeting 

12 6/10/19 Brendan Murphy 0.7 Preparation for and internal discussion and analysis re: meeting with TCC members

12 6/10/19 Brent Williams 2.3 Review committee materials

12 6/10/19 Brent Williams 1.0 Preparation for and Discussion (Internal) on committee related matters and analysis for meeting

12 6/10/19 Peter Gnatowski 0.5 Reviewed Committee site and updated documents from counsel

12 6/10/19 Peter Gnatowski 1.5 Updated TCC presentation re: bondholder proposal based on internal comments

12 6/10/19 Peter Gnatowski 1.8 Additional edits to waterfall analysis and presentation for TCC

12 6/11/19 Brent Williams 1.8 Review materials for committee meeting

12 6/12/19 Alex Gebert 2.2 Organization, summarize, and distribute recent items uploaded to committee data room

12 6/12/19 Alex Stevenson 5.6 Prepare for and participate in call with the Committee

12 6/12/19 Brendan Murphy 5.5 Preparation for and participation on Committee call

12 6/12/19 Brent Williams 2.5 Visit to Ghost Ship site for Committee meeting

12 6/12/19 Brent Williams 5.5 Preparation for and meeting with Committee

12 6/12/19 Brent Williams 0.8 Preparation for and Discussion (Internal) on committee meetings and materials

12 6/12/19 Peter Gnatowski 0.5 Edits to bondholder proposal presentation to TCC

12 6/12/19 Peter Gnatowski 5.5 Prepare for and participate in TCC committee meeting

12 6/13/19 Alex Stevenson 3.5 Prepare for and participate in meeting with members of the TCC and counsel

12 6/13/19 Brendan Murphy 3.8 Preparation for and meeting with Counsel and TCC members

12 6/13/19 Brent Williams 3.5 Preparation for and meeting with Committee

12 6/13/19 Brent Williams 1.2 Review and comment on committee materials

12 6/13/19 Matt Merkel 3.5 Preparation for and discussion in meeting with members of TCC and counsel

12 6/14/19 Brent Williams 0.9 Preparation for and Discussion (Internal) on committee related matters and presentations for meeting

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 15

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

12 6/17/19 Alex Gebert 2.0 Drafted Negotiating Process re: Plan of Reorganization presentation for TCC

12 6/17/19 Brendan Murphy 2.6 Created and Amended Committee Materials re: Flow Chart Requested by Counsel

12 6/17/19 Brent Williams 2.3 Review and comment on reorganization presentation for TCC

12 6/17/19 Peter Gnatowski 1.8 Edits to presentation on reorganization process per comments from BM

12 6/18/19 Alex Gebert 2.5 Edits to negotiating Process re: Plan of Reorganization presentation based on internal comments

12 6/18/19 Alex Stevenson 0.5 Review and comment on presentation to the TCC

12 6/18/19 Brendan Murphy 1.2 Analysis for Counsel re: Materials for TCC members

12 6/18/19 Brendan Murphy 2.1 Amended and Commented on Committee Materials re: Flow Chart Requested by Counsel

12 6/18/19 Peter Gnatowski 1.4 Additional edits to waterfall analysis and related presentation for TCC

12 6/19/19 Brendan Murphy 1.8 Analysis of bondholder proposal and related presentation for Counsel/Committee

12 6/19/19 Brent Williams 1.1 Preparation for and Discussion (Internal) on presentation and analysis for committee meeting

12 6/19/19 Brent Williams 1.9 Review and comment on committee materials

12 6/20/19 Alex Stevenson 1.7 Preparation for and participate in call with counsel and committee members

12 6/20/19 Alex Stevenson 2.3 Preparation for and participation in call with TCC

12 6/20/19 Brendan Murphy 1.7 Preparation and call with select TCC members and Counsel re: case strategy, waterfall, valuation

12 6/20/19 Brendan Murphy 2.5 Preparation and call with all Committee members and Counsel re: weekly meeting/call

12 6/20/19 Brent Williams 2.1 Review and comment on presentation and analysis to select TCC members 

12 6/20/19 Brent Williams 2.3 Preparation for and call with committee

12 6/20/19 Brent Williams 1.6 Preparation and call with select TCC members

12 6/20/19 Peter Gnatowski 2.5 Prepared for and participated in TCC meeting 

12 6/21/19 Brendan Murphy 1.3 Comments on analysis of bondholder proposal and related presentation for TCC

12 6/25/19 Brendan Murphy 2.0 Analysis of Bondholder Proposal and Related Presentation for Counsel/Committee

12 6/25/19 Brent Williams 0.6 Review and comment on committee materials

12 6/25/19 Peter Gnatowski 1.8 Edits to TCC presentation of bondholder plan based on internal comments

12 6/25/19 Peter Gnatowski 2.1 Additional edits to TCC presentation on bondholder analysis based on comments from BW and AS

12 6/26/19 Brendan Murphy 1.9 Analysis of Bondholder Proposal and Related Presentation for Counsel/Committee

12 6/27/19 Brendan Murphy 1.8 Additional comments of bondholder proposal and Related Presentation for Counsel/Committee

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 16

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

12 6/27/19 Brendan Murphy 3.5 Preparation for participation on TCC committee call/meeting

12 6/27/19 Brent Williams 3.6 Preparation and participation on Committee call

12 6/27/19 Brent Williams 1.5 Review and comment on bondholder presentation for Committee

12 6/27/19 Peter Gnatowski 3.6 Prepared for and participated in Committee call

12 6/27/19 Peter Gnatowski 2.1 Edits to bondholder analysis presentation for TCC based on comments from counsel and BW

12 6/28/19 Brendan Murphy 1.2 Amendments to TCC presentation re: Mutual Assistance Motion 

12 6/28/19 Brent Williams 0.7 Reviewed TCC presentation on PE settlement and insurance summary 

12 6/28/19 Peter Gnatowski 1.5 Reviewed and modified summary presentation for TCC re: settlement with PE

12 6/28/19 Peter Gnatowski 1.0 Reviewed and modified updated insurance summary and presentation for TCC

13 6/3/19 Alex Gebert 1.2 Review of pleadings re: Docket review

13 6/3/19 Alex Stevenson 0.5 Review weekly critical dates memo, court pleadings and news articles

13 6/3/19 Brendan Murphy 1.2 Review of public news / articles on PG&E matter

13 6/3/19 Naeem Muscatwalla 1.4 Review of public news / articles on PG&E filing; distribute key articles to team 

13 6/4/19 Alex Gebert 1.5 Reviewed fee applications of other advisors and analysis re: same

13 6/4/19 Brendan Murphy 0.9 Additional review of monthly reporting documents posted to Debtor's data room

13 6/4/19 Brent Williams 1.3 Review media reports and news articles including SF asset acquisitions news

13 6/4/19 Matt Merkel 0.3 Review of recent docket filings

13 6/4/19 Peter Gnatowski 0.4 Reviewed docket and various public news publications including advisor fee applications and SF asset 

acquisition

13 6/4/19 Riley Jacobs 1.4 Researched, summarized, and circulated relevant dockets internally

13 6/5/19 Alex Gebert 0.8 Review and circulate Debtor news articles and analysis

13 6/5/19 Alex Gebert 2.1 Trend analysis of other Advisors' fee applications/tracking re: case; reviewed applications

13 6/5/19 Alex Stevenson 0.4 Review court pleadings and news articles

13 6/5/19 Brendan Murphy 0.9 Review of public news / articles on PG&E matter

13 6/5/19 Brendan Murphy 0.8 Reviewed Quanta reporting motions provided by Debtors

13 6/5/19 Brendan Murphy 0.8 Review of filed fee applications per Counsel's request

13 6/5/19 Matt Merkel 0.1 Review of recent docket filings

13 6/5/19 Naeem Muscatwalla 2.0 Review of public news / articles on PG&E filing

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 17

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

13 6/5/19 Peter Gnatowski 0.4 Reviewed the April 2019 Real Estate Transaction Report; internal emails re: same

13 6/5/19 Peter Gnatowski 0.4 Reviewed the April 2019 Exchange Motion Reporting; internal emails re: same

13 6/5/19 Riley Jacobs 1.7 Researched, summarized, and circulated relevant dockets internally

13 6/6/19 Alex Stevenson 0.3 Review court pleadings and news articles including MOR and fee applications

13 6/6/19 Alex Stevenson 0.2 Review Baker Hostetler memo re: regulatory developments

13 6/6/19 Brendan Murphy 0.7 Review of filed fee applications per Counsel's request

13 6/6/19 Riley Jacobs 1.9 Review materials around PG&E's request to extend exclusivity

13 6/6/19 Riley Jacobs 1.2 Researched, summarized, and circulated relevant dockets internally

13 6/7/19 Alex Stevenson 0.3 Review court pleadings and news articles

13 6/7/19 Brendan Murphy 0.9 Review of public news / articles on PG&E matter

13 6/7/19 Brendan Murphy 0.9 Review of draft motion from Debtors re: D&O insurance

13 6/7/19 Brent Williams 2.1 Review media reports and key docket pleadings

13 6/7/19 Peter Gnatowski 0.4 Reviewed Quanta motion 

13 6/7/19 Riley Jacobs 1.1 Researched, summarized, and circulated relevant dockets internally

13 6/8/19 Brendan Murphy 1.0 Review of public news / articles on PG&E matter

13 6/10/19 Alex Stevenson 0.6 Review court pleadings and news articles

13 6/10/19 Matt Merkel 0.4 Review of recent docket filings

13 6/10/19 Riley Jacobs 1.0 Researched, summarized, and circulated relevant dockets internally

13 6/11/19 Alex Gebert 1.2 Draft questions re: draft D&O insurance motion

13 6/11/19 Alex Gebert 2.0 Review draft D&O insurance motion

13 6/11/19 Brendan Murphy 0.8 Review of public news / articles on PG&E matter

13 6/11/19 Naeem Muscatwalla 2.0 Review of public news / articles on PG&E filing

13 6/11/19 Peter Gnatowski 0.7 Reviewed D&O insurance motion; drafted internal observations and questions

13 6/11/19 Riley Jacobs 0.9 Researched, summarized, and circulated relevant dockets internally

13 6/12/19 Alex Gebert 2.8 Review of Debtors' fire suppression settlements

13 6/12/19 Brendan Murphy 0.6 Review of public news / articles on PG&E matter

13 6/12/19 Riley Jacobs 0.8 Researched, summarized, and circulated relevant dockets internally

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 18

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

13 6/13/19 Alex Gebert 1.6 Review of key daily dockets and news articles

13 6/13/19 Riley Jacobs 1.1 Researched, summarized, and circulated relevant dockets internally

13 6/14/19 Naeem Muscatwalla 1.8 Review of public news / articles on PG&E filing

13 6/14/19 Riley Jacobs 1.4 Researched, summarized, and circulated relevant dockets internally

13 6/15/19 Alex Stevenson 0.7 Review court filings and news releases including Omnibus agenda and various pleadings re: same

13 6/17/19 Alex Stevenson 0.2 Review correspondence and relevant news releases

13 6/17/19 Brendan Murphy 0.8 Review of public news / articles on PG&E matter

13 6/17/19 Brent Williams 0.7 Review media reports

13 6/17/19 Naeem Muscatwalla 1.6 Review of public news / articles on PG&E filing

13 6/17/19 Peter Gnatowski 0.4 Reviewed updated news releases on case

13 6/17/19 Riley Jacobs 1.3 Researched, summarized, and circulated relevant dockets internally

13 6/18/19 Alex Stevenson 0.4 Preparation and review settlement with Municipalities and correspondence with internal team

13 6/18/19 Brendan Murphy 1.3 Review and research on Public Entity Settlement

13 6/18/19 Brendan Murphy 0.9 Review and analysis of diligence documents re: Mutual Assistance Motion 

13 6/18/19 Matt Merkel 0.3 Review of recent docket filings

13 6/18/19 Naeem Muscatwalla 1.4 Review of public news / articles on PG&E filing

13 6/18/19 Naeem Muscatwalla 1.6 Review and circulation of items in Debtor's data room

13 6/18/19 Peter Gnatowski 1.9 Reviewed various diligence items provided by Debtors re: mutual aid motion

13 6/18/19 Peter Gnatowski 1.1 Reviewed PE Settlement with the Debtors; emails re: same

13 6/18/19 Riley Jacobs 1.6 Researched, summarized, and circulated relevant dockets internally

13 6/19/19 Alex Gebert 0.8 Researched and summarized relevant dockets

13 6/19/19 Alex Stevenson 0.4 Review correspondence and relevant news releases

13 6/19/19 Brendan Murphy 0.4 Review of monthly reporting reports from Debtors

13 6/19/19 Brent Williams 0.7 Review key court pleadings including omnibus hearing agenda, production motions, among others

13 6/19/19 Naeem Muscatwalla 0.7 Review and circulation of items in Debtor's data room

13 6/19/19 Peter Gnatowski 0.9 Further review and drafted questions on mutual aid motion 

13 6/19/19 Peter Gnatowski 0.3 Reviewed operational integrity bi-weekly report

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 19

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

13 6/19/19 Peter Gnatowski 0.5 Reviewed various motions and news releases on bar date objections and adversary motion

13 6/20/19 Alex Gebert 2.0 Obtain, review, and circulate various objections to Bar Date Motion

13 6/20/19 Alex Gebert 0.7 Researched, summarized, and circulated relevant dockets internally

13 6/20/19 Alex Stevenson 0.1 Review correspondence and relevant news releases

13 6/21/19 Alex Gebert 0.5 Circulate relevant fee applications

13 6/21/19 Alex Stevenson 0.3 Review correspondence and relevant news releases

13 6/21/19 Brendan Murphy 0.7 Review of pleadings re: Docket review

13 6/21/19 Brendan Murphy 0.7 Review of public news / articles on PG&E matter

13 6/21/19 Peter Gnatowski 0.5 Reviewed mutual aid motion and related exhibits

13 6/23/19 Alex Gebert 3.3 Review/compare latest filed Mutual Aid motion to draft motion

13 6/24/19 Alex Gebert 3.5 Prepare deck summarizing mutual aid motion for TCC

13 6/24/19 Alex Gebert 1.5 Internal discussion and further review of filed Mutual Aid motion

13 6/24/19 Alex Gebert 2.0 Research history of mutual aid motions

13 6/24/19 Alex Gebert 2.5 Analysis and financial impact of the various mutual aid parties

13 6/24/19 Alex Gebert 1.2 Draft key diligence items and Lincoln observations re: mutual aid motions

13 6/24/19 Brendan Murphy 1.0 Review and analysis of diligence documents re: Mutual Assistance Motion 

13 6/24/19 Peter Gnatowski 0.8 Reviewed mutual aid motion analysis and summary presentation from junior bankers

13 6/24/19 Peter Gnatowski 1.8 Edits to mutual aid motion summary and analysis

13 6/24/19 Peter Gnatowski 0.4 Reviewed key motions filed including bar date motion and reply

13 6/24/19 Riley Jacobs 1.8 Researched, summarized, and circulated relevant dockets internally

13 6/25/19 Alex Stevenson 1.8 Review exclusivity termination motion and related exhibits

13 6/25/19 Brent Williams 2.7 Review court pleadings re: exclusivity and related materials

13 6/25/19 Brent Williams 2.0 Review court pleadings re: bar date motion and mutual aid motion 

13 6/25/19 Riley Jacobs 2.0 Researched, summarized, and circulated relevant dockets internally

13 6/25/19 Riley Jacobs 1.8 Review adhoc motion and declaration re: exclusivity

13 6/26/19 Brendan Murphy 0.4 Review of filed fee application (Lazard)

13 6/26/19 Matt Merkel 0.4 Review of recent docket filings

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 20

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

13 6/26/19 Naeem Muscatwalla 1.2 Review and circulation of items in Debtor's data room

13 6/26/19 Naeem Muscatwalla 1.6 Review of public news / articles on PG&E filing

13 6/26/19 Riley Jacobs 1.8 Researched, summarized, and circulated relevant dockets internally

13 6/27/19 Naeem Muscatwalla 1.3 Review of public news / articles on PG&E filing

13 6/27/19 Peter Gnatowski 0.4 Reviewed latest news updates on PG&E and bankruptcy case

13 6/27/19 Riley Jacobs 1.3 Researched, summarized, and circulated relevant dockets internally

13 6/28/19 Peter Gnatowski 2.5 Further edits to mutual aid motion summary and analysis; emails with counsel re: same

13 6/28/19 Peter Gnatowski 0.4 Reviewed Debtors settlement with PE

13 6/28/19 Riley Jacobs 1.4 Researched, summarized, and circulated relevant dockets internally

13 6/29/19 Brent Williams 2.1 Review court pleadings including bar date motions, PE settlement and mutual aid motions

14 6/11/19 Peter Gnatowski 0.4 Reviewed PPA FERC Decision; internal emails re: same

14 6/24/19 Brent Williams 2.5 Review PPA contracts

14 6/29/19 Naeem Muscatwalla 3.0 Review of PPA rulings in precedent bankruptcy cases

14 6/29/19 Naeem Muscatwalla 1.9 Summarized PPA rulings in precedent bankruptcy cases

15 6/6/19 Alex Gebert 2.2 Research KERP/KEIP/Compensation analysis of related cases

15 6/18/19 Riley Jacobs 1.9 Review filings and news articles on CEO retention

15 6/18/19 Riley Jacobs 0.8 Internal communications on materials for CEO retention

15 6/20/19 Alex Gebert 1.5 Review and summarize Debtors' KEIP motion

15 6/20/19 Alex Gebert 1.5 Review and summarize Debtors' CEO Retention motion

15 6/20/19 Alex Gebert 1.6 Update presentation and analysis re: CEO Retention

15 6/20/19 Alex Gebert 3.0 Prepare summary presentation re: KEIP Motion for TCC

15 6/20/19 Brendan Murphy 1.6 Review of Pleadings and Analysis of CEO Retention Economics

15 6/20/19 Brendan Murphy 1.4 Review and analysis of KEIP Motion and Related Exhibits

15 6/20/19 Peter Gnatowski 1.4 Reviewed CEO motion and analysis

15 6/20/19 Peter Gnatowski 2.4 Reviewed KEIP motion and analysis

15 6/21/19 Alex Gebert 0.5 Internal communications re: KEIP/CEO retention summary and observations

15 6/21/19 Alex Gebert 1.5 Draft diligence items/questions on KEIP and CEO Retention Motions

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 21

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

15 6/21/19 Alex Gebert 1.1 Comparative review of KEIP

15 6/21/19 Alex Gebert 2.8 KEIP benchmarking analysis

15 6/21/19 Alex Gebert 0.9 Draft KEIP/CEO Retention motion diligence items

15 6/21/19 Brendan Murphy 1.1 Created and amended due diligence questions for Company re: KEIP

15 6/21/19 Brent Williams 1.3 Review and comment on KEIP and CEO motions and related observations

15 6/21/19 Peter Gnatowski 1.4 Additional analysis of KEIP and CEO motions

15 6/21/19 Peter Gnatowski 0.5 Discussions with AG re: research of comparable KEIP motions

15 6/21/19 Peter Gnatowski 2.4 Reviewed KEIP analysis to prior LTIPs; comments to AG re: same

15 6/21/19 Peter Gnatowski 1.1 Drafted questions from Debtors on KEIP and CEO motion; internal discussions re: same

15 6/21/19 Peter Gnatowski 0.5 Edits to KEIP and CEO questions; discussions with counsel re: same

15 6/24/19 Alex Gebert 3.5 Prepare matrix of historical KEIP related items with relevant case details

15 6/24/19 Brendan Murphy 0.9 Created and amended due diligence questions for Company re: KEIP

15 6/24/19 Brendan Murphy 1.3 Review of KEIP motion and analysis

15 6/24/19 Peter Gnatowski 0.5 Edits to KEIP questions for debtor based on discussions and emails with counsel

15 6/24/19 Riley Jacobs 1.7 Review and summarize KEIP motion

15 6/25/19 Brendan Murphy 0.9 Review of KEIP motion and related documents

15 6/25/19 Peter Gnatowski 1.5 Reviewed and researched KEIP questions from counsel

15 6/26/19 Alex Gebert 2.5 Further updates to KEIP benchmarking analysis

15 6/26/19 Brent Williams 1.5 Preparation for and discussion with counsel re: KEIP and other motions

15 6/26/19 Peter Gnatowski 0.4 Discussion with counsel re: KEIP and CEO motions

15 6/26/19 Riley Jacobs 1.6 Internal communication and review of KEIP / CEO materials

16 6/6/19 Peter Gnatowski 1.8 Review and edit claims analysis

16 6/7/19 Brendan Murphy 2.0 Review and comment on claims analysis 

16 6/7/19 Brent Williams 1.9 Review claims analysis; comments re: same

16 6/8/19 Peter Gnatowski 1.2 Review claims model prepared by DSI

16 6/11/19 Brendan Murphy 1.0 Review of claims analysis / model from Counsel

16 6/12/19 Alex Gebert 2.2 Review / analysis of claims model per counsel

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 22

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

16 6/13/19 Brendan Murphy 0.9 Review of claims analysis / model from Counsel

16 6/13/19 Brent Williams 1.4 Reviewed and comment on claims analysis

16 6/13/19 Peter Gnatowski 1.5 Reviewed claim analysis

16 6/19/19 Brendan Murphy 0.8 Review of claims analysis / model from Counsel

17 6/1/19 Alex Stevenson 0.3 Correspondence with internal team member regarding discussion with Millstein and implication

17 6/2/19 Alex Stevenson 0.7 Preparation for and discussion with internal team regarding analysis of Ad Hoc proposal

17 6/5/19 Alex Gebert 1.3 Review and research of San Francisco proposal re: acquisition

17 6/7/19 Alex Stevenson 0.5 Review preliminary claims analysis in context of strategic options

17 6/12/19 Alex Stevenson 0.4 Analyze potential trust structures

17 6/15/19 Alex Stevenson 0.6 Review email re: potential investor in plan structure

17 6/15/19 Alex Stevenson 0.2 Correspondence with internal team member re: potential investor in plan structure

17 6/17/19 Riley Jacobs 1.4 Review strategies of reorganization for Debtor

17 6/18/19 Riley Jacobs 1.8 Further review of strategies of reorganization for Debtor

17 6/21/19 Alex Stevenson 1.2 Review governors report and comment re strategic implications

17 6/21/19 Alex Stevenson 0.5 Preparation and correspondence with team re: governors report strategic implications

17 6/25/19 Alex Stevenson 0.6 Correspondence with Lincoln team re: plan alternatives

17 6/25/19 Alex Stevenson 0.3 Preparation for and correspondence with Lincoln team re: asset sale alternatives

17 6/28/19 Alex Stevenson 1.5 Review AB1054 and impact on strategic alternatives

20 6/3/19 Alex Gebert 2.0 Update benchmarking analysis

20 6/28/19 Peter Gnatowski 0.6 Reviewed latest benchmarking analysis 

21 6/1/19 Matt Merkel 2.3 Edits to bondholder term sheet analysis

21 6/1/19 Matt Merkel 2.2 Prepared for and internal discussions re: bondholder analysis 

21 6/1/19 Matt Merkel 2.7 Revisions to bondholder analysis based on internal discussion

21 6/1/19 Sherman Guillema 1.0 Reviewed bondholder upside analysis and had discussion with junior banker

21 6/2/19 Matt Merkel 2.6 Additional discussions and revisions to bondholder term sheet analysis

21 6/2/19 Matt Merkel 2.2 Prepared sensitivity analysis based on bondholder term sheet

21 6/2/19 Matt Merkel 2.5 Edits to waterfall analysis based on bondholder terms sheet

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 23

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

21 6/2/19 Matt Merkel 2.1 Additional edits to bondholder waterfall analysis based on internal comments

21 6/2/19 Matt Merkel 2.4 Further revisions to bondholder term sheet analysis

21 6/2/19 Sherman Guillema 0.8 Reviewed bondholder upside analysis and had discussion with junior banker

21 6/3/19 Alex Stevenson 0.8 Review and comment on draft of bondholder proposal analysis

21 6/3/19 Alex Stevenson 0.4 Correspondence with internal team member re: bondholder proposal analysis

21 6/3/19 Alex Stevenson 0.3 Further review and comment on draft of bondholder proposal analysis

21 6/3/19 Matt Merkel 2.0 Prepared for and discussed bondholder analysis with internal team

21 6/3/19 Matt Merkel 2.5 Edits to bondholder analysis based on internal discussion and comments

21 6/3/19 Matt Merkel 1.8 Additional edits to waterfall upside analysis based on internal discussions and comments

21 6/3/19 Matt Merkel 2.5 Made edits to returns schedule of bondholder upside analysis based on internal discussion

21 6/3/19 Matt Merkel 2.2 Revised bondholder upside analysis based on review of internal review

21 6/3/19 Matt Merkel 3.0 Made edits to sensitivity tables in bondholder upside analysis based on internal discussion

21 6/3/19 Sherman Guillema 0.7 Reviewed bondholder upside analysis and had discussion with junior banker

21 6/3/19 Sherman Guillema 0.4 Reviewed bondholder upside analysis assumptions page

21 6/4/19 Alex Stevenson 1.1 Analysis of bondholder proposal and scenario analysis

21 6/4/19 Matt Merkel 2.1 Made edits to waterfall summary of bondholder upside analysis based on internal discussion

21 6/4/19 Matt Merkel 2.7 Drafted assumptions for bondholder upside analysis

21 6/4/19 Matt Merkel 2.3 Prepared and reviewed assumptions of upside bondholder analysis with internal team

21 6/4/19 Matt Merkel 2.4 Made edits to assumptions of upside bondholder analysis based on in internal discussion

21 6/4/19 Matt Merkel 2.1 Reviewed and verified calculations in bondholder upside analysis

21 6/4/19 Matt Merkel 2.2 Made edits to upside bondholder analysis from internal team

21 6/5/19 Matt Merkel 2.3 Continued edits to latest upside bondholder analysis

21 6/6/19 Matt Merkel 2.4 Updated waterfall/bondholder upside analysis for new claims amounts from Counsel

21 6/7/19 Alex Gebert 2.0 Review comparable term sheet from relevant cases

21 6/7/19 Alex Gebert 2.5 Begin drafting TCC term sheet

21 6/7/19 Alex Gebert 1.9 Side-by-side Waterfall scenario analysis for hypothetical equity sponsor plan

21 6/7/19 Alex Gebert 2.4 Additional drafting edits to term sheet

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 24

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

21 6/7/19 Alex Stevenson 0.4 Correspondence with internal team member regarding subrogation committee strategy

21 6/7/19 Matt Merkel 2.6 Updated bondholder proposal analysis

21 6/10/19 Alex Gebert 1.0 Waterfall analysis based on term sheet

21 6/10/19 Alex Stevenson 0.4 Review analysis of subrogation committee perspective

21 6/10/19 Brendan Murphy 2.8 Reviewed and comment on draft term sheet structure; reviewed bondholder proposal

21 6/10/19 Matt Merkel 2.0 Ran additional scenarios for bondholder proposal analysis 

21 6/10/19 Matt Merkel 2.3 Summarized bondholder proposal analysis scenario

21 6/10/19 Matt Merkel 2.1 Made further revisions to bondholder proposal analysis

21 6/10/19 Peter Gnatowski 1.8 Additional edits to term sheet draft

21 6/10/19 Peter Gnatowski 1.9 Further revisions to term sheet

21 6/10/19 Peter Gnatowski 1.6 Updated sources and uses analysis in term sheet

21 6/10/19 Riley Jacobs 0.7 Review subrogation analysis 

21 6/11/19 Alex Stevenson 1.3 Review draft plan term sheet and comment to internal team

21 6/11/19 Alex Stevenson 0.4 Review claims analysis and implications to term sheet

21 6/11/19 Brendan Murphy 3.1 Review and comment to term sheet re: updated assumptions

21 6/11/19 Matt Merkel 1.7 Made revisions to bondholder returns analysis

21 6/11/19 Peter Gnatowski 1.8 Additional edits to waterfall analysis in term sheet based on revised assumptions

21 6/12/19 Alex Stevenson 0.7 Preparation for and internal discussion to discuss plan alternatives and strategy

21 6/12/19 Alex Stevenson 0.4 Review further draft of plan term sheet

21 6/12/19 Brendan Murphy 2.0 Drafted, amended and commented to draft term sheet requested by Counsel

21 6/12/19 Matt Merkel 2.2 Updated bondholder proposal analysis

21 6/12/19 Matt Merkel 2.4 Adjusted inputs and other edits to bondholder proposal analysis from a team review

21 6/12/19 Peter Gnatowski 2.4 Further revisions to term sheet based on internal comments

21 6/13/19 Matt Merkel 2.3 Adjusted bondholder returns analysis for a new scenario

21 6/14/19 Peter Gnatowski 1.0 Reviewed draft term sheet from junior banker

21 6/14/19 Peter Gnatowski 2.4 Comments to draft term sheet prepared by junior banker

21 6/14/19 Peter Gnatowski 2.5 Edits to draft term sheet

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 25

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

21 6/17/19 Alex Gebert 0.4 Internal discussion re: waterfall distribution in term sheet

21 6/17/19 Alex Gebert 3.5 Waterfall Distribution Analysis based on Bondholder's Proposal

21 6/17/19 Alex Gebert 2.0 Further slide preparation of waterfall preparation analysis and emails re: the same related to term sheet

21 6/17/19 Alex Stevenson 0.7 Review legal summary of made-whole doctrine for term sheet development purposes

21 6/17/19 Matt Merkel 1.4 Read materials and discussed waterfall analysis on bondholder proposal with junior banker

21 6/17/19 Matt Merkel 2.0 Reviewed waterfall analysis on bondholder proposal

21 6/18/19 Alex Gebert 2.5 Waterfall Distribution Analysis based on Bondholder's Proposal

21 6/18/19 Alex Gebert 2.1 Address senior level comments to waterfall and update slides on bondholder analysis

21 6/18/19 Matt Merkel 2.8 Reviewed and made edits to waterfall analysis on bondholder proposal

21 6/19/19 Brendan Murphy 1.9 Reviewed and comments re: term sheet comparison

21 6/24/19 Riley Jacobs 2.1 Review bondholder proposal

21 6/25/19 Alex Gebert 2.4 Review Ad Hoc Bondholders proposal

21 6/25/19 Alex Gebert 2.1 Researched key terms in bondholder proposal

21 6/25/19 Alex Gebert 1.8 Created summary of key terms in bondholder proposal

21 6/25/19 Alex Gebert 3.0 Additional research of comparable key terms in bondholder proposal

21 6/25/19 Alex Gebert 2.5 Update Waterfall and S&U for bondholder's proposal

21 6/25/19 Brendan Murphy 2.1 Reviewed and commented on draft term sheet

21 6/25/19 Brendan Murphy 1.9 Review of Ad Hoc Committee of Senior Unsecured Noteholders Motion to Terminate Debtors' Exclusivity

21 6/25/19 Brent Williams 2.0 Review and comment on bondholder presentation

21 6/25/19 Matt Merkel 2.1 Made edits to the waterfall value distribution analysis

21 6/25/19 Peter Gnatowski 1.5 Reviewed plan and term sheet filed by bondholders and related declaration; emails re: same

21 6/25/19 Peter Gnatowski 1.4 Reviewed updated bondholder analysis

21 6/25/19 Peter Gnatowski 2.1 Edits to bondholder analysis for TCC

21 6/25/19 Peter Gnatowski 1.5 Reviewed research and analysis from junior banker re: key terms from bondholder proposal

21 6/25/19 Peter Gnatowski 1.4 Edits to term sheet draft based on comments from counsel and internal team

21 6/25/19 Peter Gnatowski 1.2 Additional edits to term sheet draft based on comments from BM

21 6/25/19 Riley Jacobs 2.1 Review news articles and internal analysis on adhoc motion

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 26

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

21 6/26/19 Alex Gebert 2.0 Further updates/comparative analysis of Ad Hoc Bondholders proposal

21 6/26/19 Alex Gebert 1.7 Update S&U and Waterfall based on latest term sheet proposal

21 6/26/19 Alex Gebert 2.0 Edits to bondholder analysis presentation for TCC 

21 6/26/19 Alex Gebert 2.9 Prepare detailed side by side of TCC proposal and ad hoc proposal

21 6/26/19 Alex Stevenson 0.9 Review draft TCC term sheet

21 6/26/19 Alex Stevenson 0.5 Preparation for and correspondence with internal team re: term sheet

21 6/26/19 Alex Stevenson 0.8 Review analysis of bondholder term sheet 

21 6/26/19 Alex Stevenson 0.4 Correspondence with team re: bondholder term sheet

21 6/26/19 Brendan Murphy 1.7 Drafted, Amended and Commented to Draft Term Sheet Requested by Counsel

21 6/26/19 Brent Williams 3.0 Review and comment on bondholder proposal and analysis

21 6/26/19 Brent Williams 0.8 Preparation for and Discussion (Internal) on term sheets

21 6/26/19 Matt Merkel 2.2 Made edits to water distribution analysis based on internal discussions

21 6/26/19 Peter Gnatowski 1.2 Reviewed updated waterfall analysis from junior banker re: bondholder proposal; comments re: same

21 6/26/19 Peter Gnatowski 1.4 Prepared analysis of various return scenarios of bondholder plan based on comments from AS

21 6/26/19 Peter Gnatowski 1.0 Discussions with AS re: return analysis scenarios; edits to analysis based on comments from AS

21 6/26/19 Peter Gnatowski 1.5 Edits to backstop fee analysis; internal emails re: observations 

21 6/26/19 Peter Gnatowski 1.9 Various updates to summary and analysis to TCC on updated bondholder proposal

21 6/26/19 Peter Gnatowski 2.0 Additional edits to TS Draft based on comments from AS

21 6/26/19 Riley Jacobs 1.0 Review analysis of bondholder term sheet 

21 6/27/19 Brendan Murphy 1.3 Drafted, Amended and Commented to Draft Term Sheet

21 6/27/19 Brent Williams 1.9 Review and comment on draft term sheet

21 6/27/19 Peter Gnatowski 1.2 Additional edits to term sheet draft based on internal comments; discussions with junior banker re: same

21 6/28/19 Brendan Murphy 1.6 Reviewed and commented on updated term sheet

24 6/11/19 Brent Williams 6.0 Non-working travel.

24 6/12/19 Brendan Murphy 4.3 Non-working travel time to SFO

24 6/13/19 Alex Stevenson 0.5 Non-Working Travel to San Francisco

24 6/14/19 Alex Stevenson 1.0 Non-Working Travel to San Francisco

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 27

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

24 6/14/19 Brendan Murphy 4.1 Non-working travel time back to ORD

24 6/15/19 Brent Williams 7.0 Non-working travel to/from SF

24 6/25/19 Brent Williams 3.5 Non-working travel to/from SF

24 6/27/19 Brent Williams 3.5 Non-working travel to/from SF

25 6/3/19 Alex Stevenson 0.6 Preparation for and internal discussion re: case strategy and workstreams

25 6/3/19 Brendan Murphy 0.6 Internal project administration discussions re: work streams

25 6/3/19 Brent Williams 0.7 Internal project administration re: outstanding tasks and strategy

25 6/3/19 Matt Merkel 0.7 Internal conversation on open analyses and workstreams

25 6/3/19 Naeem Muscatwalla 1.0 Internal coordination regarding workstreams

25 6/3/19 Peter Gnatowski 0.7 Prepared for and participate in internal discussions re: outstanding tasks and updates on case

25 6/3/19 Riley Jacobs 1.3 Update internal calendar for key hearings and events

25 6/4/19 Brendan Murphy 1.0 Preparation for and internal discussion re: outstanding tasks for Counsel with BW

25 6/4/19 Brendan Murphy 0.5 Prepare and participate in call with PG: task tracker

25 6/4/19 Brent Williams 1.1 Preparation for and Discussion (Internal) with BM re: analysis for counsel

25 6/4/19 Peter Gnatowski 0.7 Prepared for and participated in update call with BM re: outstanding tasks

25 6/5/19 Alex Stevenson 0.8 Correspondence with internal team member re: case strategy

25 6/5/19 Brendan Murphy 0.8 Preparation for and internal discussion re: case strategy and open issues

25 6/5/19 Brent Williams 0.8 Preparation for and internal discussions re: project management 

25 6/5/19 Naeem Muscatwalla 0.9 Internal coordination regarding case procedures and plan

25 6/6/19 Naeem Muscatwalla 0.8 Internal coordination regarding workstreams

25 6/7/19 Brent Williams 1.4 Preparation for and internal discussions case update and open workstreams

25 6/10/19 Alex Stevenson 0.7 Preparation for and internal discussion re: case strategy and workstreams

25 6/10/19 Brendan Murphy 0.2 Review outstanding tasks from PG

25 6/10/19 Brent Williams 0.7 Preparation for and internal discussions re: project management

25 6/10/19 Jane Su 1.5 Miscellaneous case administration including meeting preparation

25 6/10/19 Naeem Muscatwalla 1.0 Internal junior team coordination regarding outstanding tasks and diligence

25 6/10/19 Peter Gnatowski 0.3 Updated outstanding tasks and workstreams; emails with BM re: same

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 28

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

25 6/11/19 Jane Su 1.2 Miscellaneous case administration including meeting preparation

25 6/12/19 Alex Stevenson 1.0 Project administration and open workstreams review

25 6/13/19 Jane Su 1.9 Miscellaneous case administration including meeting preparation

25 6/16/19 Brent Williams 0.8 Project administration re: case strategy and open deliverables

25 6/17/19 Alex Stevenson 0.2 Review critical dates memo

25 6/17/19 Alex Stevenson 1.2 Preparation for and internal discussion of case strategy and workplan

25 6/17/19 Brent Williams 1.3 Internal project administration: tasks and case strategy

25 6/17/19 Peter Gnatowski 0.5 Reviewed outstanding team tasks and workstreams

25 6/21/19 Brendan Murphy 1.0 Preparation for and internal discussion re: actionable tasks and responsibilities with BW

25 6/21/19 Brent Williams 1.0 Internal project administration re: outstanding tasks and case strategy with BM

25 6/24/19 Alex Stevenson 0.7 Preparation for and internal discussion of case strategy and workplan

25 6/24/19 Brendan Murphy 0.7 Preparation for and internal discussion re: actionable tasks and responsibilities

25 6/24/19 Brendan Murphy 0.4 Review of critical date memo from Counsel

25 6/24/19 Brent Williams 0.8 Internal project administration re: outstanding tasks and case strategy

25 6/24/19 Naeem Muscatwalla 0.9 Internal coordination regarding workstreams

25 6/24/19 Peter Gnatowski 0.3 Reviewed critical dates memo prepared by counsel

25 6/24/19 Peter Gnatowski 0.8 Prepare for and participate in team call re: outstanding tasks and case update

25 6/24/19 Peter Gnatowski 0.6 Coordinate with junior team re: outstanding tasks and timeline

25 6/24/19 Riley Jacobs 0.9 Update internal calendars re: upcoming hearings and objection deadlines

25 6/27/19 Riley Jacobs 1.4 Organize requests for real estate diligence

25 6/28/19 Riley Jacobs 1.2 Update Internal Calendars and summarize agenda for future events

29 6/3/19 Brendan Murphy 1.5 Preparation for and internal discussion re: fee application

29 6/4/19 Peter Gnatowski 0.8 Reviewed draft fee app detail from junior banker; emails re: same

29 6/5/19 Alex Gebert 1.6 Prepare Lincoln's Fee Application- March

29 6/5/19 Peter Gnatowski 1.2 Reviewed March Fee App draft; internal call with team

29 6/6/19 Alex Gebert 1.5 Review and discuss internally March application process 

29 6/6/19 Peter Gnatowski 2.2 Reviewed March fee application detail

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 29

of 30
Category Date Name Hours Description of Task(s)

EXHIBIT D

TIME DETAIL

FOR THE PERIOD JUNE 1, 2019 THROUGH JUNE 30, 2019

29 6/9/19 Peter Gnatowski 2.8 March fee app preparation

29 6/11/19 Peter Gnatowski 2.1 Edits to March fee application

29 6/11/19 Riley Jacobs 3.0 Prepare March Fee application (professional fees)

29 6/11/19 Riley Jacobs 1.4 Communication and additional edits to March fee application

29 6/12/19 Peter Gnatowski 2.5 Additional edits to March fee application

29 6/12/19 Riley Jacobs 2.6 Prepare March Fee application (expenses)

29 6/13/19 Peter Gnatowski 2.5 Work on March fee application

29 6/13/19 Peter Gnatowski 2.4 Additional work on March fee application

29 6/13/19 Riley Jacobs 2.8 Prepare March Fee application (expenses)

29 6/15/19 Brendan Murphy 1.9 Review and comments to March fee application / statement

29 6/15/19 Peter Gnatowski 1.4 Further edits to March fee statement

29 6/15/19 Peter Gnatowski 1.0 Additional edits to March fee application based on comments from BM and counsel

29 6/15/19 Riley Jacobs 1.9 Prepare March Fee application (expenses and receipts)

29 6/16/19 Alex Gebert 1.5 Preparation of March fee application and internal discussion re: the same

29 6/17/19 Peter Gnatowski 0.2 Reviewed fee application protocol from fee examiner

29 6/17/19 Peter Gnatowski 0.8 Preparation March fee application

29 6/20/19 Brendan Murphy 1.7 Comments and changes to March Fee Statement

29 6/20/19 Peter Gnatowski 1.0 Preparation March fee application

29 6/21/19 Alex Gebert 0.6 Prepare March fee application exhibits

29 6/21/19 Brendan Murphy 1.0 Comments and changes to March fee statement

29 6/21/19 Peter Gnatowski 2.2 Finalized March fee application

29 6/25/19 Riley Jacobs 2.2 Preparation of April Fee application

I I I I 

Case: 19-30088 Doc# 3938-4 Filed: 09/19/19 Entered: 09/19/19 12:17:48 Page 30

of 30