Document:

Sixth Amendment to the Dynegy Inc. 401(k) Savings Plan

 Exhibit 10.24 
 SIXTH AMENDMENT TO THE 
 DYNEGY INC. 401(k) SAVINGS PLAN 
 WHEREAS, Dynegy Inc. (the “Company”), has established and maintains the Dynegy Inc. 401(k) Savings Plan (the “Plan”) for the
benefit of its eligible employees and the eligible employees of certain participating companies; and 
 WHEREAS, the Company desires to amend
the Plan; 
 NOW, THEREFORE, BE IT RESOLVED that the Plan shall be, and hereby is amended as follows, effective as provided below:

 I. 
 Effective as of
January 1, 2004, Section 1.1(1) of the Plan is amended in its entirety to provide as follows: 
 “(1) Account(s): A
Member’s After-Tax Account, Before-Tax Account, Destec Employer Contribution Account, Dow ESOP Account, Employer Contribution Account, Rollover Contribution Account, and/or Catch-Up Contribution Account, including the amounts credited thereto
and any subaccounts thereof.” 
 II. 
 Effective as of January 1, 2004, a new section 1.1(7A) is added to the Plan to provide as follows: 
 “(7A) Catch-Up Contribution Account: An individual account for each Member which is credited with catch-up contributions made in accordance with Section 3.10 of the Plan. Such account shall also be adjusted to reflect such
Account’s changes in value in accordance with Section 4.3 of the Plan.” 

 III. 
 Effective as of March 1, 2005, Section 1.1(13) of the Plan is amended in its entirety to provide as follows: 
 “(13) Compensation: The regular or base salary or wages (but (i) including (A) ‘Injury Full’ short-term disability payments and (B) regular or base salary or wages paid during a
military leave of absence and (ii) excluding overtime payments and bonuses (other than that described below)) paid by the Employer to or for the benefit of a Member for services rendered or labor performed for the Employer while a Member and an
Eligible Employee, subject to the following adjustments and limitations: 
 (A) The following shall be included: 
 (i) elective contributions made on a Member’s behalf by the Employer that are not includible in income under section 125, section
402(e)(3), section 402(h), or section 403(b) of the Code and any amounts that are not includible in the gross income of a Member under a salary reduction agreement by reason of the application of section 132(f) of the Code; 
 (ii) compensation deferred under an eligible deferred compensation plan within the meaning of section 457(b) of the Code; 
 (iii) employee contributions described in section 414(h) of the Code that are picked up by the employing unit and are treated as employer
contributions; and 
 (iv) if a Member is scheduled to work a 12 hour shift, the regularly scheduled overtime will be included
as Compensation, and is calculated by multiplying his straight time hourly rate of pay by the number of 12 hour shift regularly scheduled overtime hours for which he is paid. 
 (B) The Compensation of any Member taken into account for purposes of the Plan shall be limited to $200,000 for any Plan Year with such limitation to be:

 (i) adjusted automatically to reflect any amendments to section 401(a)(17) of the Code and any cost-of-living increases
authorized by section 401(a)(17) of the Code; and 
  

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 (ii) prorated for a Plan Year of less than twelve months and to the extent otherwise
required by applicable law.” 
 IV. 
 Effective as of February 1, 2005, Section 1.1(53) of the Plan is amended by adding the following at the end of the first sentence thereof and immediately thereafter: 
 “; provided, however, that each individual who was employed by Sithe Energies, Inc. or Sithe Energies Power Services, Inc. (collectively referred to
as ‘Sithe’) on the date of the closing of the Sithe Transaction shall be credited with Service for the period preceding such closing date in an amount equal to the Years of Vesting Service, if any, credited to such individual under the
Sithe Energies Group Retirement 401(k) Plan immediately prior to such closing date. For purposes of this provision, ‘Sithe Transaction’ shall mean the transaction contemplated by that certain Stock Purchase Agreement dated as of
November 1, 2004, by and among Exelon SHC, Inc., Exelon New England Power Marketing, L.P., ExRes SHC, Inc. and Dynegy New York Holdings Inc.” 
 V. 
 Effective as of March 1, 2005, Sections 3.1(b), 3.1(c), 3.2(c) and 3.2(d) of the Plan are
amended by replacing each and every reference to the phrase “effective as of the first day of any payroll period” or “effective as of the first day of any subsequent payroll period,” as applicable, with “effective as of the
next available pay date.” 
 VI. 
 Effective as of March 1, 2005, the first sentence of Section 7.1 of the Plan is amended by deleting the phrase “Member’s employment is terminated, and such,” and Section 7.2 of the Plan
is amended in its entirety to provide as follows: 
 “7.2 Total and Permanent Disability Determined. A Member shall be considered
totally and permanently disabled if (i) the Member has been determined to be disabled by the Social Security Administration, and (ii) the Member is receiving payment of social security disability benefits.” 
  

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 VII. 
 Effective as of January 1, 2004, Section 8.3(a) of the Plan is amended in its entirety to provide as follows: 
 “(a) Member shall have a 100% Vested Interest in his Before-Tax Account, Dow ESOP Account, After-Tax Account, Rollover Contribution Account and Catch-up Contribution Account at all times.” 
 VIII. 
 Effective as of March 28,
2005, Section 10.1 of the Plan is amended by replacing each and every reference to “$5,000” with “$1,000,” and Section 10.1(h) of the Plan is amended in its entirety to provide as follows: 
 “(h) If the value of a Member’s Vested Interest in his Accounts is $1,000 or less, then the Member’s entire nonforfeitable account balance
shall be immediately distributed in a single lump sum payment.” 
 IX. 
 Effective as of January 1, 2004, Section 11.1(d) of the Plan is amended in its entirety to provide as follows: 
 “(d) A Member who has attained age fifty-nine and one-half may withdraw from his Before-Tax Account, his Catch-up Contribution Account, and the
Vested Interest in his Employer Contribution Account, on a pro rata basis, an amount not exceeding his then Vested Interest in the aggregate value of such Accounts.” 
 X. 
 Effective as of March 1, 2005, Section 11.1(e) of the Plan is amended by adding the
following to the end thereof: 
 “Withdrawals under this Paragraph may not be for an amount less than $500.00.” 
  

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 XI. 
 Effective as of March 1, 2005, Section 11.2(b) of the Plan is amended in its entirety to provide as follows: 
 “(b) Notwithstanding the provisions of this Article, (i) not more than one withdrawal pursuant to Section 11.1(d) may be made in any one Plan Year, (ii) no withdrawal shall be made from an Account
to the extent such Account has been pledged to secure a loan from the Plan, and (iii) any portion of an Account that is invested in the VBO shall not be subject to withdrawal pursuant to any Paragraphs of Section 11.1.” 
 XII. 
 Effective as of March 1,
2005, a new Section 12.4(c) is added to the Plan to provide as follows: 
 “(c) The actual and reasonable expenses incurred by the
Plan (including attorneys’ fees) in connection with the documentation of a loan, the recording of security interests, the enforcement of the terms of the loan, and collection activities associated with any default may be charged to the
borrowing Member’s Accounts pursuant to uniform and nondiscriminatory policies established by the Committee from time to time.” 
 XIII. 
 Except as modified herein, the Plan shall remain in full force and effect. 
 IN WITNESS WHEREOF, the undersigned has caused this Amendment to the Plan to be executed this
28th day of February 2005, effective as hereinbefore provided. 
  

			
	DYNEGY INC.
		
	By:	 	/s/ Illegible
	Title:	 	Chairman - BPC

  

 5Seventh Amendment to the Dynegy Inc. 401(k) Savings Plan

 Exhibit 10.25 
 SEVENTH AMENDMENT TO THE  
 DYNEGY INC. 401(k) SAVINGS PLAN 
 WHEREAS, Dynegy Inc. (the “Company”), has established and maintains the Dynegy Inc. 401(k) Savings Plan (the “Plan”) for the
benefit of its eligible employees and the eligible employees of certain participating companies; and 
 WHEREAS, the Company desires to amend
the Plan; 
 NOW, THEREFORE, BE IT RESOLVED that the Plan shall be, and hereby is amended as follows, effective as provided below:

 I. 
 Effective as of
February 1, 2005, Section 1.1(27) of the Plan is amended in its entirety to provide as follows: 
 “(27) Eligible
Employee: Each Employee other than (A) an Employee whose terms and conditions of employment are governed by a collective bargaining agreement, unless such agreement provides for his coverage under the Plan, (B) a nonresident alien who
receives no earned income from the Employer that constitutes income from sources within the United States, (C) an Employee who is a Leased Employee or who is designated, compensated, or otherwise classified by the Employer as a Leased Employee,
(D) an individual who is deemed to be an Employee pursuant to Treasury regulations issued under section 414(o) of the Code, (E) an Employee who has waived participation in the Plan through any means including, but not limited to, an
Employee whose employment is governed by a written agreement with the Employer (including an offer letter setting forth the terms and conditions of employment) that provides that the Employee is not eligible to participate in the Plan (a general
statement in the agreement, offer letter, or other communication stating that the Employee is not eligible for benefits shall be construed to mean that the Employee is not an Eligible Employee), and (F) an Employee of an entity that has been
designated to participate in the Plan pursuant to the provisions of Article XVIII to the extent that such entity’s designation specifically excepts such Employee’s participation. 

 Notwithstanding any provision of the Plan to the contrary, no individual who is designated, compensated,
or otherwise classified or treated by the Employer as an independent contractor or other non-common law employee shall be eligible to become a Member of the Plan. It is expressly intended that individuals not treated as common law employees by the
Employer are to be excluded from Plan participation even if a court or administrative agency determines that such individuals are common law employees. 
 II. 
 Effective as of January 1, 2004, Section 4.1(a) of the Plan is amended in its
entirety to provide as follows: 
 “(a) Before-Tax Contributions made by the Employer on a Member’s behalf shall be
allocated to such Member’s Before-Tax Account. Further, catch-up contributions pursuant to Section 3.10 made by the Employer on a Member’s behalf shall be allocated to such Member’s Catch-Up Contribution Account.”

 III. 
 Effective as of
January 1, 2004, Section 11.1(e) of the Plan is amended in its entirety to provide as follows: 
 “(e) A Member
who has a financial hardship, as determined by the Committee, and who has made all available withdrawals pursuant to the Paragraphs above and Appendices A and/or B hereunder, as applicable, and pursuant to the provisions of any other plans of the
Employer and any Controlled Entities of which he is a member and who has obtained all available loans pursuant to Article XII and pursuant to the provisions of any other plans of the Employer and any Controlled Entities of which he is a member may
withdraw from his Before-Tax Account and Catch-Up Contribution Account an amount not to exceed the lesser of (1) the balance of such Accounts or (2) the amount determined by the Committee as being available for withdrawal pursuant to this
Paragraph. For purposes of this Paragraph, financial hardship shall mean the immediate and heavy financial needs of the Member. A withdrawal based upon financial hardship pursuant to this Paragraph shall not exceed the amount required to meet the
immediate financial need created by the hardship. The amount required to meet the immediate financial need may include any amounts necessary to pay any federal, state, or local income taxes or penalties reasonably anticipated to result from the
distribution. 

 The determination of the existence of a Member’s financial hardship and the amount required to be
distributed to meet the need created by the hardship shall be made by the Committee. The decision of the Committee shall be final and binding, provided that all Members similarly situated shall be treated in a uniform and nondiscriminatory manner. A
withdrawal shall be deemed to be made on account of an immediate and heavy financial need of a Member if the withdrawal is for: 
 (1) Expenses for medical care described in Section 213(d) of the Code previously incurred by the Member, the Member’s spouse, or any dependents of the Member (as defined in Section 152 of the Code) or necessary for those
persons to obtain medical care described in Section 213(d) of the Code and not reimbursed or reimbursable by insurance; 
 (2) Costs directly related to the purchase of a principal residence of the Member (excluding mortgage payments); 
 (3) Payment of tuition and related educational fees, and room and board expenses, for the next twelve months of post-secondary education for the Member or the Member’s spouse, children, or dependents (as defined in Section 152 of
the Code); 
 (4) Payments necessary to prevent the eviction of the Member from his principal residence or foreclosure on the
mortgage of the Member’s principal residence; or 
 (5) Such other financial needs that the Commissioner of Internal
Revenue may deem to be immediate and heavy financial needs through the publication of revenue rulings, notices, and other documents of general applicability. 
 The above notwithstanding, (1) withdrawals under this Paragraph shall be limited to the sum of the Member’s Before-Tax Contributions and catch-up contributions pursuant to Section 3.10, plus income
allocable to the Member’s Before-Tax Contributions and credited to the Member’s Before-Tax Account as of December 31, 1988, less any previous withdrawals of such amounts, and (2) Employer Contributions utilized to satisfy the
restrictions set forth in Section 3.1(e), and income allocable thereto, shall not be subject to withdrawal. A Member who receives a distribution pursuant to this Paragraph on account of hardship shall be prohibited from making elective
deferrals and employee contributions under this and all other plans maintained by the Employer or any Controlled Entity for six months after receipt of the distribution.” 

 IV. 
 Except as modified herein, the Plan shall remain in full force and effect. 
 IN WITNESS WHEREOF, the undersigned has caused this Amendment to the Plan to be executed this 31st day of May 2005, effective as hereinbefore provided. 
  

			
	DYNEGY INC.
		
	By:	 	/s/ Illegible
	Title:

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