Document:

EX-10.3

 Exhibit 10.3 

Certain confidential information has been omitted from this Exhibit 10.3 pursuant to a request for confidential treatment filed separately with the
Securities and Exchange Commission. The omitted information is indicated by the symbol “* * *” at each place in this Exhibit 10.3 where the omitted information appeared in the original. 

AMENDED AND RESTATED GYPSUM CONTRACT 

This Amended and Restated Gypsum Contract (“Contract”) dated June 8, 2005 (“Effective Date”) is between The Cincinnati Gas &
Electric Company, an Ohio corporation and operating owner of the Miami Fort Generating Station (“Miami Fort Station”) located in North Bend, Ohio (“CG&E”), and Lafarge North America, Inc., a Maryland corporation
(“Lafarge”), and amends and restates the Gypsum Contract dated October 8, 2004 between CG&E and Lafarge. CG&E and Lafarge may be referred to collectively as the “Parties” or individually as a “Party”. 

 

	1.	The Transaction: 

  

	 	A.	CG&E wishes to sell dry weight synthetic gypsum which complies with the requirements set forth on Exhibit A (“Complying Gypsum”) from its Miami Fort Station Units 7 and 8 to Lafarge, and Lafarge wishes to
purchase synthetic gypsum from CG&E, and will use it to produce wallboard, cement, and other gypsum-related products at Lafarge’s facility in the greater Cincinnati, Ohio area (the “Lafarge Plant”), or elsewhere, and may also
resell it to others. 

  

	2.	Purchase of Minimum and Maximum Amounts of Gypsum: 

  

	 	A.	Yearly Minimum and Maximum Amounts. The tonnages set forth in this Contract represent the Miami Fort Station’s gypsum production from Units 7 and 8 each being retrofit with a new SO2 scrubber. CG&E shall
sell and deliver to Lafarge, and Lafarge shall purchase from CG&E, a minimum of * * * of Complying Gypsum during the * * *, commencing on * * *, and ending * * *. Every successive contract year thereafter
will also begin on June 1, and end on May 31 of the following year (“Contract Year”). Beginning with the * * * and continuing for the Term of this Contract, CG&E shall deliver and Lafarge shall purchase a minimum
total of * * * of Complying Gypsum each Contract Year. 

 Beginning with the * * * and continuing for the
Term of this Contract, Lafarge shall purchase and CG&E shall sell CG&E’s output up to a maximum of * * * of Complying Gypsum each Contract Year. 

For purposes of this Contract, the terms Maximum Amount and Minimum Amounts shall refer to the Complying Gypsum tonnage amounts set forth in
the following table. 
  

																	
	 Contract Year Start:
	  	 	* * *	  	  	 	* * *	  	  	 	* * *	  	  	 	* * *	  
	 Minimum Tons
	  	 	* * *	  	  	 	* * *	  	  	 	* * *	  	  	 	* * *	  
	 Maximum Tons
	  	 	* * *	  	  	 	* * *	  	  	 	* * *	  	  	 	* * *	  

	 	B.	Production prior to June 1, 2007. Lafarge has the first right to purchase any Complying Gypsum produced from the Miami Fort Station prior to June 1, 2007 at the price in effect at the time of purchase
under the contract between the Parties for the sale of gypsum from CG&E’s Zimmer Station. If Lafarge accepts this Complying Gypsum, it will be included in the tonnage amounts delivered for the first Contract Year. If Lafarge declines to
accept this Complying Gypsum, CG&E has the right to sell to any third party all or a portion of the Complying Gypsum quantity, or dispose of this Complying Gypsum and these quantities will not be included in the first Contract Year delivery
total. 

  

	 	C.	During any Contract Year, if CG&E fails to deliver the Minimum Amount of Complying Gypsum, and CG&E’s failure to deliver is not due to a Force Majeure event, as defined in Section 11, CG&E will pay
Lafarge damages equal to the number of tons of Complying Gypsum by which CG&E fails to meet the Minimum Amount multiplied by the Contract Price per ton in effect during the period for which CG&E fails to deliver the Minimum Amount. For
shortfalls in CG&E’s delivery of the Minimum Amount of Complying Gypsum, such damages shall be credited to Lafarge thirty (30) days following the end of the applicable Contract Year. Such credit shall be carried forward for two
(2) months into the next Contract Year. At the end of the two (2) month period, CG&E shall pay Lafarge the balance due on any such credit by check or by other mutually agreeable means within thirty (30) days. At the end of the
Initial Contract Term, CG&E shall pay any credit owed Lafarge within thirty (30) days. 

  

	 	D.	If the amount of Complying Gypsum CG&E is capable of delivering to Lafarge exceeds the Maximum Amount Lafarge is obligated to purchase under this Contract (“Excess Amount”), Lafarge may accept or decline
to receive the Excess Amount at its sole discretion. CG&E shall first offer such Excess Amount to Lafarge and Lafarge must respond within fifteen (15) days. If Lafarge accepts the Excess Amount, the terms of this Contract shall apply to the
purchase and sale of such Excess Amount and the Excess Amount will be included in the total tonnage delivered during such applicable Contract Year. If Lafarge declines to accept the Excess Amount of Complying Gypsum, CG&E shall have the right to
sell or dispose of the Complying Gypsum in its sole discretion and the quantity will not be included in the tonnage delivered during such applicable Contract Year. 

 

	 	E.	Lafarge must accept and pay for all Complying Gypsum CG&E is able to deliver up to the Maximum Amount. During any Contract Year, if Lafarge fails to accept Complying Gypsum below the Maximum Amount and
Lafarge’s failure is not due to Force Majeure, Lafarge shall pay CG&E the then effective Contract Price, up to the Maximum Amount, for the Complying Gypsum that Lafarge fails to take. Lafarge shall pay any amount due pursuant to this
Section within thirty (30) days after the end of the applicable Contract Year. Nothing herein shall affect the validity of Section 15. 

  

	 	F.	 The damages payable by CG&E under Section 2.C. shall be the sole remedy to Lafarge for CG&E’s failure to deliver the Minimum Amount
of Complying 

  
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Gypsum. The damages payable by Lafarge under Section 2.E. shall be the sole remedy to CG&E for Lafarge’s failure to take up to the Maximum Amount of Complying Gypsum.

  

	3.	Complying Gypsum: 

  

	 	A.	Complying Gypsum shall meet each of the specifications set forth in Exhibit A. Gypsum shall be sampled by CG&E, and its compliance with the specifications of Exhibit A shall be determined, in accordance with the
protocols set forth in Exhibit A, prior to the loading of the gypsum onto Lafarge’s barges or storage of gypsum at CG&E’s site. Sampling shall be at CG&E’s expense. Sampling data will be promptly transmitted electronically,
and in any event CG&E shall use commercially reasonable efforts to transmit the data in the same day, to ensure Lafarge is informed of the status of the gypsum quality. 

 

	 	B.	Lafarge will purchase and accept deliveries of, and gypsum will be deemed to be, Complying Gypsum if it contains no less than * * * moisture, no more than * * * moisture, and if the gypsum otherwise
meets the specifications set forth in Exhibit A. The moisture content average shall be determined monthly, and the monthly figures shall be weighted on a tonnage basis to calculate the annual average moisture content per ton of Complying Gypsum for
each Contract Year. If the annual average moisture content exceeds * * *, rounded to the nearest one-tenth of a percentage point, Lafarge shall be entitled to a gypsum price discount equal to: 

 

			
	 Moisture Content
	  	 Discount

		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *

 Any discount owed to Lafarge shall be credited on the first invoice for the subsequent Contract Year. Such
credit shall be carried forward for two months in the subsequent Contract Year. After the two (2) month period, CG&E shall pay Lafarge the balance due on any such credit by check or by other mutually agreeable means within thirty
(30) days. At the end of the Initial Term, CG&E shall pay any credit owed Lafarge within thirty (30) days. 

  
 3 

 If the annual average moisture content is * * * or less, rounded to the nearest
one-tenth of a percentage point, CG&E shall be entitled to an increased moisture removal incentive as follows: 
  

			
	 Moisture Content
	  	 Incentive:

		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *

 Any incentive balance owed to CG&E at the completion of a Contract Year shall be added to the first invoice
of the subsequent Contract Year. If the amount of the annual incentive exceeds the amount owed by Lafarge to CG&E at the end of the Initial Term, Lafarge shall pay the difference to CG&E within thirty (30) days. 

 

	 	C.	If, within thirty (30) days after Lafarge has taken title to what it believes is Complying Gypsum, Lafarge determines that the gypsum was Non-Complying Gypsum at the time it took title, then Lafarge shall
immediately notify CG&E. CG&E shall, within thirty (30) days of notification by Lafarge, have the right to (1) propose a price adjustment or alternative solution or (2) remove the Non-Complying Gypsum from the Lafarge Plant at
CG&E’s cost. If CG&E neither proposes a price adjustment nor removes the Non-Complying Gypsum, then CG&E shall reimburse Lafarge for any per ton removal costs and increased production costs incurred by Lafarge. Such reimbursement
shall never exceed the applicable per ton Contract Price. 

  

	4.	Non-Complying Gypsum: 

  

	 	A.	Lafarge may reject or accept, in its sole discretion any gypsum that fails to meet one or more of the specifications in Exhibit A (“Non-Complying Gypsum”) offered to it by CG&E. If Lafarge accepts the
Non-Complying Gypsum, the Parties shall mutually agree in writing on price and delivery terms. 

  
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	5.	Delivery: 

  

	 	A.	CG&E will deliver Complying Gypsum by loading it onto Lafarge’s covered barges at the Miami Fort Station harbor. CG&E, or designee, will open and close grain doors upon commencement of loading and
completion of loading respectively. A belt scale at Miami Fort Station will weigh the gypsum immediately prior to loading on the covered barges. CG&E will test and calibrate the belt scale at least once a month in accordance with the National
Institute of Standards and Technology Handbook 44 for belt scales. Lafarge shall have the right to observe the weighing of gypsum, and the testing and calibration of the belt scale. CG&E shall provide advance notice, upon request, to Lafarge of
the time and date of the belt scale calibration. In the event that calibration shows the scale used to weigh gypsum to be inaccurate by more than plus or minus one half of one percent (.5%), the inaccuracy shall be presumed to have existed for
one-half the number of days since the last time the scale was calibrated, and an adjustment shall be made to the next invoice to reflect the adjustment debit or credit. CG&E shall provide the results of each calibration on the next invoice sent
to Lafarge. During any period when CG&E’s belt scale is inoperable, the Parties shall mutually agree to a procedure for determining the quantity of the gypsum delivered. 

 

	 	B.	All of Lafarge’s barges entering the Miami Fort Station harbor shall be seaworthy, in good operating condition and repair, and in compliance with all applicable laws. CG&E will maintain the Miami Fort Station
harbor to accommodate at least * * * deep draft jumbo barges. When CG&E dredges the Miami Fort Station harbor in the normal course of maintaining it, CG&E will dredge to a depth to accommodate deep draft jumbo barges. CG&E may
reject any barges that contain free water in the cargo hold and will give Lafarge customary notice of such rejection. CG&E shall give Lafarge customary notice of the number of barges they expect will be required to remove Complying Gypsum the
following day. In accordance with such notice, Lafarge must provide a sufficient number of barges to transport all of the Complying Gypsum delivered under this Contract on a timely basis. CG&E shall provide space at the Miami Fort Station harbor
for a maximum of * * * deep draft jumbo barges at any time. 

  

	 	C.	Upon three (3) days notice to CG&E, Lafarge shall have the right to require CG&E to load Complying Gypsum onto trucks that are supplied by Lafarge. The Miami Fort Station’s loading hours for trucks is
Monday through Friday 6 AM to 5 PM, with a limit of fifty trucks per day. Any loading of trucks outside of this time frame shall be done only upon mutual agreement of the Parties. A certified truck scale will be used to determine the net weight of
the gypsum promptly after loading on a truck. Complying Gypsum loaded onto trucks will incur an additional truck-loading fee of * * * (escalated in the manner set forth in Section 13.B) paid by Lafarge to CG&E to offset the
additional labor and equipment needed for truck loading operations instead of loading barges. 

  
 5 

	 	D.	By mutual agreement of the Parties, Lafarge shall have the right to require CG&E to load Complying Gypsum on to railcars supplied by Lafarge. The terms of the railcar loading shall be negotiated at the time the
Parties agree on using this method of transportation. 

  

	 	E.	If Lafarge elects to purchase and take Non-Complying Gypsum, CG&E will deliver the Non-Complying Gypsum to Lafarge by the same methods and under the same terms and conditions for loading Complying Gypsum.

  

	 	F.	Lafarge will be responsible for all carrier scheduling and logistics including costs and contracting arrangements holding CG&E harmless for any damages resulting from this method of making gypsum deliveries. At the
completion of loading each barge, truck or rail car at the Miami Fort Station harbor or facility respectively, title to and the risk of loss of the loaded gypsum will pass from CG&E to Lafarge. CG&E shall give notice to Lafarge that loading
of a barge is complete in the manner customarily given by the Miami Fort Station harbor. Notification of completion of truck or railcar loading at Miami Fort Station will be the responsibility of the Lafarge contracted gypsum carrier.

  

	6.	Term: 

  

	 	A.	Each Contract Year shall run from June 1 through May 31. 

  

	 	B.	The initial term of this Contract shall be * * *, beginning on * * * and ending on * * * (“Initial Term”). The Initial Term may be extended for an additional period of up to
* * * (“Renewal Term”) if mutually agreed to by both Parties (collectively the Initial Term and the Renewal Term are referred to herein as “Term”). A Party wishing to extend the Contract for a Renewal Term must provide
* * * notice to the other Party. If the Parties fail to mutually agree on extending the Contract for a Renewal Term effective on or after the Initial Term expiration date, this Contract shall terminate. Such renewal is conditioned on the
Parties’ ability to agree, following good faith negotiations, on the terms and conditions, including the price of the gypsum and all other cost considerations applying to the Renewal Term. Nothing herein shall compel CG&E to operate the
Miami Fort Station beyond the Initial Term. * * *. 

  

	7.	Contract Price: 

  

	 	A.	The contract price per ton of Complying Gypsum shall be determined as follows (“Contract Price”): 

(1) Lafarge shall pay CG&E the same price per ton for Complying Gypsum delivered during the Initial Term of this Contract
as calculated pursuant to the agreement between the Parties for the purchase of gypsum from the Zimmer Generating Station dated December 29, 1998 (“Zimmer Contract”). The Contract Price for the first Contract Year shall be determined
by the price in effect under the Zimmer Contract on * * *; 

  
 6 

 (2) The Contract Price will be subject to annual adjustment on June 1 each
year starting in * * * for the Initial Term of the Contract. The annual adjustment shall be based * * *; and 

(3) The Contract Price includes all costs of producing, acquiring and loading Complying Gypsum to Lafarge. 

 

	8.	Representations and Warranties: 

  

	 	A.	On the Effective Date, each Party represents and warrants to the other Party that: (1) it is duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation and is
qualified to conduct its business in Ohio; (2) it has all regulatory authorizations necessary for it to legally perform its obligations under this Contract; (3) the execution, delivery and performance of this Contract and any other
documentation relating to this Contract are within its powers, have been duly authorized by all necessary action and do not violate any of the terms and conditions in its governing documents, any contracts to which it is a party or any law, rule,
regulation, order or similar provision applicable to it; (4) this Contract and each other document executed and delivered in accordance with this Contract constitutes its legally valid and binding obligation enforceable against it in accordance
with its terms; (5) there are no Bankruptcy Proceedings, as defined herein, pending or being contemplated by it or, to its knowledge, threatened against it; (6) there is not pending or, to its knowledge, threatened against it or any of its
affiliates any legal proceedings that could materially adversely affect its ability to perform its obligation under this Contract or any other document relating to this Contract; and (7) no Event of Default, as defined herein, or event which,
with the giving of notice or lapse of time, or both, would constitute an Event of Default with respect to it has occurred and is continuing and no such event or circumstance would occur as a result of its entering into or performing its obligations
under this Contract or any other document relating to this Contract. 

  

	9.	Additional Warranties of Owner: 

  

	 	A.	CG&E warrants that the gypsum delivered to Lafarge’s barges will be Complying Gypsum, as determined by the testing protocols to be contained in Exhibit A, except for any Non-Complying Gypsum that Lafarge has
agreed to accept. Lafarge’s exclusive remedy for any failure of CG&E to comply with its warranty obligations in the preceding sentence shall be Lafarge’s right to reject Non-Complying Gypsum and/or receive compensation in the manner
provided in Section 3. 

  

	 	B.	CG&E warrants that it will have, at all times during the Term of this Contract, good and marketable title to the gypsum to be delivered hereunder, and that upon delivery of the gypsum, title thereto shall pass to
Lafarge free and clear of all liens and encumbrances. 

  
 7 

	 	C.	CG&E warrants that it will use commercially reasonable efforts to supply Complying Gypsum. However, nothing contained in this Section shall affect the validity of Sections 2 and 15. 

 

	 	D.	THE FOREGOING EXPRESS WARRANTIES SHALL BE EXCLUSIVE AND IN LIEU OF ALL OTHER WARRANTIES, WHETHER STATUTORY, EXPRESS OR IMPLIED, INCLUDING ALL WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE AND ALL
WARRANTIES ARISING FROM THE PARTIES’ COURSE OF DEALING OR TRADE. 

  

	10.	Confidentiality: 

  

	 	A.	The Parties may not disclose information provided by one Party to the other pursuant to this Contract or the terms of this Contract to third parties, except that the Parties may disclose such terms as may be required by
applicable law, rule, regulation or court or administrative order, including those of environmental, tax and utility regulatory or other governmental bodies, provided they give written notice to the other Party and seek in good faith protection of
such information under the laws and regulations applicable to such regulatory body. 

  

	11.	Force Majeure: 

  

	 	A.	Neither CG&E nor Lafarge shall be liable to the other for any delay or failure in the performance of its obligations under this Contract when the delay or failure in performance results from Force Majeure. Force
Majeure is defined as causes which are beyond its reasonable control, including but not limited to fires, floods, earthquakes, tornadoes, high river conditions and other unusual weather events; strikes and labor disturbances; acts of God; acts or
omissions of governmental authorities; inability beyond a Party’s reasonable control to obtain necessary materials, fuel or energy; wrecks or delays in transportation; riots, civil disturbances or insurrection; embargoes; unplanned Miami Fort
Station or unplanned Lafarge Plant outages of more than a fourteen (14) days or the inability following good faith efforts to obtain or maintain necessary permits, licenses, authorizations or approvals, provided that the notice requirement of
Section 11.B. is satisfied. 

  

	 	B.	The Party whose performance of its obligations hereunder is adversely affected by a Force Majeure event (the “Affected Party”) shall promptly notify the
other Party at the beginning of the Force Majeure event, and confirm the notice in writing within five (5) business days of the event. The notice shall contain a detailed account of the Force Majeure event, including the cause of the event, an
estimate of the duration of any delay, an estimate of the Force Majeure event’s impact to the Affected Party’s performance, and the plan to mitigate the effects of the event. 

 

	 	C.	 In the event that a delay or failure in performance hereunder is a Force Majeure event, and CG&E is the Affected Party, then the Minimum Amounts
required to 

  
 8 

	 	
be sold from the Miami Fort Station and delivered shall be reduced by * * * multiplied by the number of days the Force Majeure event occurred during the applicable period. If Lafarge is
the Affected Party, the Maximum Amounts required to be purchased from the Miami Fort Station shall be reduced by * * * multiplied by the number of days the Force Majeure event occurred during the applicable period. 

 

	 	D.	In the event a Party suffers a Force Majeure and such Force Majeure is not cured within 180 days, then either Party, after providing thirty (30) days written notice, shall have the right to terminate this Contract.

  

	12.	Compliance with Laws: 

  

	 	A.	Each Party shall perform its obligations under this Contract, and Lafarge shall transport and use the gypsum to be delivered hereunder, in accordance with all applicable federal, state, county, municipal and local laws,
ordinances and regulations. Lafarge represents that it is a sophisticated user of gypsum, it is aware of the regulated (including but not limited to arsenic, beryllium, cadmium, lead, chromium, mercury and nickel) and unregulated elements and
materials which may be contained in gypsum, and it agrees to comply with all applicable laws and regulations which protect its employees, third parties, consumers and the environment relating to the use of the gypsum to be delivered hereunder.

  

	 	B.	Each Party shall promptly seek, and shall use its good faith efforts to obtain, at its own expense, all permits, approvals, authorizations and licenses which it requires in order to carry out its obligations hereunder.
Once obtained, each Party shall, at its own expense, use its good faith efforts to maintain in full force and in effect throughout the Initial and any Renewal Terms of this Contract all such permits, approvals, authorizations and licenses obtained
by it. 

  

	 	C.	Each Party agrees to hold harmless and indemnify the other Party from all costs, expenses, judgments, fines, and penalties, including reasonable attorneys’ fees, arising out of the indemnifying party’s failure
to comply with the terms of Section 12. 

  

	13.	Storage of Complying Gypsum on CG&E’s Site: 

  

	 	A.	In the event CG&E is able to sell and tender delivery of Complying Gypsum to Lafarge, up to the Maximum Amount, but Lafarge fails to purchase and take delivery of it, or if CG&E is producing Complying Gypsum but
is unable to deliver it, CG&E may, in its sole discretion, store the Complying Gypsum at the Miami Fort Station in the quantities described below. If CG&E chooses to store the Complying Gypsum on site, then it shall store a minimum amount of
* * * in covered storage and thereafter * * * in uncovered storage, for a maximum total of * * * of on site storage. If CG&E chooses not to store the Complying Gypsum, then CG&E may dispose of the Complying
Gypsum which Lafarge cannot take at its sole discretion, by storage, sale to any third party, or otherwise. 

  
 9 

	 	B.	In the event CG&E stores the Complying Gypsum on site because Lafarge fails to purchase or take delivery of the Complying Gypsum up to the Maximum Amount, then Lafarge shall pay CG&E a storage and handling fee
of * * * (“Storage and Handling Fee”) for the * * * and be subject to incremental * * * increase during * * *. The Storage and Handling Fee shall not apply if (1) Lafarge’s failure to take
the Complying Gypsum is due to a Force Majeure; (2) for amounts of Complying Gypsum in excess of the Maximum Amount; or (3) through the nonperformance of CG&E. 

 

	 	C.	CG&E shall pay Lafarge a penalty of * * * of all amounts of Complying Gypsum which CG&E stores in uncovered storage on CG&E’s site if (1) CG&E is not able to store * * * of
Complying Gypsum in covered storage; (2) Lafarge is able to accept Complying Gypsum; and (3) Lafarge is able to provide barges as required. 

  

	 	D.	The stored gypsum’s compliance with the specifications to be contained in Exhibit A shall be determined at the time the gypsum is sent to storage at CG&E’s site. 

 

	14.	Indemnification: 

  

	 	A.	Lafarge shall hold harmless and indemnify CG&E, its directors, officers, employees and agents, and its affiliated companies, including any directors, officers, employees and agents thereof for all costs, losses,
liabilities, expenses, suits, actions, claims, damages and all other obligations and proceedings whatsoever, including without limitation, all judgments rendered against and all fines and penalties, and any reasonable attorneys’ fees and any
other costs of litigation (“Claims”) arising out of injuries to persons or damage to property to the extent arising out of and caused by Lafarge’s negligent use or transport of the gypsum delivered hereunder. If this indemnity
provision is unenforceable under applicable state law, this Section shall be interpreted to impose the maximum legal obligation permitted under such law. 

  

	 	B.	CG&E will hold harmless and indemnify Lafarge, its directors, officers, employees and agents, and its affiliated companies, including any directors, officers, employees and agents thereof from and against all Claims
arising out of injury to or death of persons and damage to property to the extent arising out of and caused by the negligent delivery of the gypsum by CG&E during the Term of this Contract. If this indemnity provision is unenforceable under
applicable state law, this Section shall be interpreted to impose the maximum legal obligation permitted under such law. 

  

	 	C.	 In the event of a Claim against a Party, the claiming Party shall promptly give notice to the indemnifying Party containing detail reasonably
sufficient for the indemnifying Party to identify the nature and basis of the Claim. If the indemnifying Party admits in writing to the claiming Party that such Claim is covered by the provisions of this Section 14, the indemnifying Party shall
have the right to contest and defend by all appropriate legal proceedings such Claim 

  
 10 

	 	
and to control all settlements (unless the claiming Party agrees to assume the cost of settlement and to forgo its rights hereunder) and to select lead counsel to defend any and all such Claims
at the sole cost and expense of the indemnifying Party; provided, the indemnifying Party may not effect any settlement that could result in any cost, expense or liability to the claiming Party, unless the claiming Party consents in writing to such
settlement and the indemnifying Party agrees to indemnify and hold harmless the claiming Party thereof. The claiming Party may select counsel to participate with the indemnifying Party’s counsel in any such defense, in which event the claiming
Party’s counsel shall be at its own cost and expense. In connection with any such Claim, action or proceeding, the Parties shall cooperate with each other and provide each other with access to relevant books and records in their possession.

 The indemnifying Party shall pay to the claiming Party all reasonable costs and expenses incurred by such claiming Party in
the enforcement of this Section 14, if (and only if) the indemnifying Party admits, or is adjudged, to have breached its obligation to indemnify the claiming Party for a Claim. 

 

	 	D.	Survival: 

 The provisions of this Section 14 shall survive the termination of this
Contract. 
  

	15.	Limitation of Liability: 

  

	 	A.	NOTWITHSTANDING ANY PROVISION IN THIS CONTRACT TO THE CONTRARY, NEITHER PARTY SHALL BE LIABLE UNDER THIS CONTRACT TO THE OTHER PARTY FOR CONSEQUENTIAL OR INDIRECT LOSS OR DAMAGE, INCLUDING LOSS OF PROFIT, LOSS OF
OPERATION TIME, REPLACEMENT POWER COSTS, LOSS OF GOODWILL OR ANY OTHER SPECIAL, PUNITIVE OR INCIDENTAL DAMAGES RESULTING FROM ANY VIOLATION OF OR DEFAULT UNDER THIS CONTRACT OR IN ANY MANNER FROM THE TRANSACTIONS CONTEMPLATED HEREBY EXCEPT TO THE
EXTENT ANY SUCH LOSS OR DAMAGE IS INCLUDED IN A THIRD PARTY CLAIM FOR WHICH INDEMNIFICATION IS OWED PURSUANT TO SECTION 14. THE PROVISIONS OF THIS SECTION 15 SHALL SURVIVE THE TERMINATION OR EXPIRATION OF THIS CONTRACT, SHALL APPLY TO ALL CLAIMS,
WHETHER IN CONTRACT, EQUITY, TORT OR OTHERWISE, REGARDLESS OF FAULT, NEGLIGENCE (IN WHOLE OR IN PART), STRICT LIABILITY, BREACH OF CONTRACT OR BREACH OF WARRANTY AND SHALL EXTEND TO THE MANAGERS, TRUSTEES, DIRECTORS, OFFICERS, MEMBERS, PARTNERS AND
EMPLOYEES, AGENTS AND AFFILIATES OF EACH PARTY, AND THE MANAGERS, DIRECTORS, TRUSTEES, OFFICERS, EMPLOYEES AND AGENTS OF SUCH AFFILIATES. 

  

	 	B.	Except for liability arising under Section 14, the maximum total liability under this Contract for the Initial Term between CG&E and Lafarge arising out of any and all claims and damages, regardless of whether
the claims are based upon contract, warranty, tort, including negligence, strict liability, or otherwise, shall not exceed fifteen million six hundred thousand dollars ($15,600,000). In the case of a Renewal Term, both Parties shall agree to a new
maximum total liability figure corresponding to the Renewal Term of the Contract. 

  
 11 

	16.	Termination and Default: 

  

	 	A.	Events of Default. An “Event of Default” shall mean, with respect to a Party (“Defaulting Party”), the occurrence of any of the following: 

(1) failure to make when due, any payment required pursuant to this Contract if such failure is not remedied within twenty
(20) days after written notice of such failure is given by the other Party, and provided the payment is not the subject of a good faith dispute as described in Section 17. However, it shall not constitute an Event of Default under this
Section 16 if (a) the failure to pay arises in the ordinary course of business by mistake, oversight, or transfer difficulties; and (b) funds were available to such Party to enable it to make the relevant payment when due; and
(c) such Event of Default or failure to pay is remedied on or before the twentieth (20th) day after the occurrence or existence of such failure to pay; 

(2) any representation or warranty made by the Defaulting Party herein shall at any time prove to be false or misleading in any
material respect; 
 (3) the failure of the Defaulting Party to perform any covenant set forth in this Contract (other than
the events that are otherwise specifically covered in this Article 16 as a separate Event of Default, or its obligations to deliver or receive Complying Gypsum, the remedy for which is provided in Section 2) and such failure is not excused by
Force Majeure or cured within thirty (30) days after written notice thereof to the Defaulting Party; provided, that if such failure is capable of cure but is not cured within such thirty (30) day period despite such Party’s
commercially reasonable efforts to do so, such thirty (30) day period shall be extended by such additional time as is reasonably necessary to cure such failure; provided, further, that such cure is promptly commenced within such
thirty (30) day period and is diligently pursued, and that the aggregate cure period (including the initial thirty (30) day period) shall not exceed one hundred twenty (120) days; provided, further, that such Party shall only be
entitled to two thirty (30) day cure periods after notice in any given twelve (12) month period; or 
 (4) the
Defaulting Party (a) files a petition or otherwise commences or acquiesces in a proceeding under any bankruptcy, insolvency, reorganization or similar law, or has any such petition filed or commenced against it and such petition is not
withdrawn or dismissed within thirty (30) days after such filing, (b) makes an assignment or any general arrangement for the benefit of creditors, (c) 

  
 12 

 
otherwise becomes bankrupt or insolvent (however evidenced), (d) has a liquidator, administrator, receiver, trustee, conservator or similar official appointed with respect to it or any
substantial portion of its property or assets, or (e) is unable to pay its debts as they fall due (collectively, “Bankruptcy Proceedings”). 
  

	 	B.	Upon the occurrence of an Event of Default (and after the expiration of any applicable grace period), the non-Defaulting Party shall have the right, in its sole discretion, to do any or all of the following:

 (1) Termination. Terminate this Contract upon thirty (30) days prior notice; 

(2) Specific Performance. Obtain specific performance of a Party’s obligations under this Contract; and 

(3) Other Remedies. Pursue any and all other rights or remedies available hereunder, at law or in equity. 

 

	17.	Payment: 

  

	 	A.	CG&E shall invoice Lafarge the Contract Price for the total amount of gypsum delivered each month, and for other contract adjustments, by the 15th of the
following month. Truck loading fees under Section 5.C. and Storage and Handling Fees detailed in Section 13.B. shall be paid each month and will be included with each month’s invoice. Lafarge shall pay by check or other mutually
agreeable means such invoices in full by the * * * of the month in which it receives such invoice. Overdue payments shall accrue interest at the Interest Rate from, and including, the due date to, but excluding, the date of payment. If
Lafarge, in good faith, disputes an invoice, Lafarge shall immediately notify CG&E of the basis for the dispute and pay the portion of such statement not in dispute no later than the due date. If any amount withheld under dispute by Lafarge is
ultimately determined to be due to CG&E, it shall be paid within * * * after such determination, along with interest accrued at the Interest Rate from the original due date until the date paid. Inadvertent overpayments shall be
returned by the receiving Party upon request or deducted by the receiving Party from subsequent payments, with interest accrued at the Interest Rate from the date originally paid until the date repaid or deducted. “Interest Rate”
means, * * *. 

  

	18.	Notice: 

  

	 	A.	Each Party shall designate in writing a representative to receive any and all notices required under this Contract to be furnished to such Party. Notices shall be in writing and shall be given to the representative
designated to receive the same, by personal delivery, by U.S. mail, return receipt requested, by overnight courier, or by facsimile, properly addressed to such representative. All notices shall be effective upon receipt, or upon such later date
following receipt as is set forth in the notice. Any Party may, by written notice, change the representative or the address to which its notices are to be sent. 

  
 13 

	19.	Insurance: 

  

	 	A.	Lafarge shall obtain and maintain throughout the Term of this Contract the following policies of insurance, in amounts not less than $2 million per occurrence and aggregate: 

(1) Hull Insurance. A policy of Hull insurance insuring the barges to be provided by Lafarge for the perils insured by
the Taylor Form 1953 (Rev. 70) as amended, or its equivalent, including strikes, riots and civil commotion and excluding collision liability. 

(2) Protection and Indemnity Insurance. A policy of protection and indemnity insurance subject to P.I. 1955 Form SP 38
as amended, or its equivalent, including collision liability, American Institute Pollution Exclusion Clause and Buy Back Endorsement A (July 4, 1976). 

(3) Excess Protection and Indemnity Insurance. A policy of excess protection and indemnity insurance in excess of
primary protection and indemnity insurance, including excess of primary collision/towers liability and pollution buy back endorsement. 

(4) Other Coverage. Policies covering other risks in such amounts as deemed prudent by Lafarge, which shall exclusively
bear all loss of cargo after delivery of the gypsum and other risks associated with the operation and navigation of the barges to be provided by Lafarge while the barges are in Lafarge’s possession. In addition, Lafarge shall carry
workers’ compensation, longshoremen’s, harbor-workers’ and/or Jones Act coverage, as required by law. 
 (5)
The insurance required hereunder shall be placed with reputable, competent, and properly licensed insurers and underwriters or self-insured. Certificates of insurance (or written notice that such insurance requirements are fulfilled by
self-insurance) shall be delivered to CG&E prior to the commencement of the delivery of gypsum hereunder. The certificates shall state that the policies of insurance may not be canceled or modified without thirty days prior written notice to
CG&E. Lafarge shall pay all premiums and other costs of insurance required hereunder. These insurance requirements may be covered by umbrella policies of insurance or by self-insurance maintained by Lafarge. 

 

	 	B.	CG&E shall obtain and maintain throughout the Term of this Contract the following policies of insurance or secure self insurance: 

(1) CG&E shall carry workers’ compensation, longshoremen’s, harbor workers’ and/or Jones Act coverage, as
required by law. 

  
 14 

 (2) CG&E shall carry commercial general liability, wharfage, landing CG&E
and stevedore’s coverage in amounts not less than $2 million per occurrence and aggregate. 
 (3) The insurance required
hereunder shall be placed with reputable, competent, and properly licensed insurers and underwriters or self-insured. Certificates of insurance (or written notice that such insurance requirements are fulfilled by self-insurance) shall be delivered
to Lafarge prior to the commencement of the delivery of gypsum hereunder. The certificates shall state that the policies of insurance may not be canceled or modified without thirty days prior written notice to Lafarge. 

 

	20.	Taxes: 

  

	 	A.	The Contract Price payable hereunder does not include any taxes. Lafarge shall be liable for the payment of all taxes based on the purchase of gypsum, except taxes on the net income of CG&E. If applicable, Lafarge
shall provide CG&E with a tax-exempt certificate. 

  

	21.	Miscellaneous: 

  

	 	A.	CG&E and Lafarge shall waive subrogation against each other under their insurance policies. 

  

	 	B.	In the event that any of the provisions, or portions thereof, of this Contract is held to be unenforceable or invalid by any court of competent jurisdiction, the validity and enforceability of the remaining provisions,
or portions thereof, shall not be affected thereby. 

  

	 	C.	The waiver by either Party of any breach of any term, covenant, condition or agreement contained herein or any default in the performance of any obligations hereunder shall not be deemed to be a waiver of any other
breach or default of the same or of any other term, covenant, condition, agreement or obligation. 

  

	 	D.	This Contract may not be assigned to a third party, other than an affiliated company or a successor in interest to the business of the assignor, without the written consent of the other Parties, which consent shall not
be unreasonably withheld. Notwithstanding the forgoing, any assignment hereunder shall satisfy the internal commercially reasonable credit policies of the non-assigning Party. This Contract shall be binding on the successors and assigns of the
Parties. 

  

	 	E.	Sections 2.F., 10, 12.C., 14, 15, 16, 17, and 22 shall survive the termination of this Contract. 

  

	 	F.	The rights and obligations of the Parties arising out of this Contract shall be governed in all respects by the laws of the State of Ohio. 

 

	 	G.	This Contract constitutes the entire agreement between the Parties and supersedes all previous and collateral agreements or understandings with respect to the subject matter hereof. No waiver, alteration, amendment or
modification of any of the provisions of this Contract shall be binding unless in writing and signed by the duly authorized representatives of the Parties. 

  
 15 

	22.	Dispute Resolution: 

  

	 	A.	In the event a dispute arises regarding the interpretation of or performance under this Contract, which cannot be resolved by communications between the Miami Fort Station manager and the Lafarge Silver Grove Plant
manager, each Party shall have the right to request in writing a meeting to occur within five (5) business days of the receipt of such written request, between the next level of management for CG&E and Lafarge. Such meeting may occur in
person, telephonically, or by any other method mutually agreeable to CG&E and Lafarge. 

  

	 	B.	If within thirty (30) days after such meeting, the Parties have not succeeded in negotiating a resolution of the dispute, then, upon seven (7) days written notice to the other Party, either Party may request
that the matter be referred to binding arbitration before three arbitrators, one of whom shall be named by CG&E, one by Lafarge, and a third of whom shall be named by the two arbitrators appointed by CG&E and Lafarge, respectively. If either
CG&E or Lafarge fail to select an arbitrator within fifteen (15) days after receipt of written notice from the other of its election to submit a matter to arbitration and naming its arbitrator, the Party giving such notice shall have the
right to appoint an arbitrator for the Party in default; and the two thus chosen shall then select the third arbitrator. The appointment of the third arbitrator, if not agreed upon within twenty (20) days, shall be made in accordance with
American Arbitration Association’s Commercial Dispute Resolution Rules in effect (the -Rules”). The Parties agree that if the dispute between the Parties is less than two hundred and
fifty thousand dollars ($250,000), then it shall be resolved by one arbitrator appointed by the American Arbitration Association. The Rules shall govern any such proceedings. Judgment upon any award rendered by the arbitrators may be entered in any
court having jurisdiction thereof. Each Party shall pay for the services and expenses of the arbitrator appointed by it and for its costs, expenses, and attorneys’ fees. Fees and expenses of the third arbitrator and court reporter shall be paid
in equal parts by the Parties hereto. The Parties agree that the arbitration shall take place in Cincinnati, Ohio. 

  

	 	C.	All negotiation and mediation proceedings shall be strictly confidential and used solely for the purposes of settlement. Any materials prepared by one Party for those proceedings shall not be used as evidence by the
other Party in any subsequent arbitration; provided, however, the underlying facts supporting such materials may be subject to discovery. All arbitration proceedings shall also be strictly confidential. 

 

	 	D.	Each Party fully understands its specific obligations under the provisions of this Contract. Neither Party considers such obligations to be vague or in any way unenforceable, and neither Party will contend to the
contrary at any future time or in any future proceeding. 

  
 16 

 The Parties have signed this Contract by their duly authorized representatives effective on the last date below.

  

									
	THE CINCINNATI GAS & ELECTRIC COMPANY	 		 	LAFARGE NORTH AMERICA, INC.
					
	By:	 	 Barry E. Pulskamp
	 		 	By:	 	 /s/ Ike Preston

					
	Title:	 	 VP – Power Operations
	 		 	Title:	 	 President LNA Gypsum

					
	Date:	 	 6/10/05
	 		 	Date:	 	 6-8-05

  
 17 

 Exhibit A 

* * *EX-10.4

 Exhibit 10.4 

Certain confidential information has been omitted from this Exhibit 10.4 pursuant to a request for confidential treatment filed separately with the
Securities and Exchange Commission. The omitted information is indicated by the symbol “* * *” at each place in this Exhibit 10.4 where the omitted information appeared in the original. 

GYPSUM CONTRACT 
 This
Contract is between The Cincinnati Gas & Electric Company (“CG&E”), The Dayton Power and Light Company (“DP&L”) and Columbus Southern Power Company (“CSP”), each an Ohio corporation and the owners
(collectively “Owners”) of the Wm. H. Zimmer Generating Station (‘Zimmer Station’) located in Moscow, Ohio, and Lafarge Corporation, a Maryland corporation (“Lafarge”). 

The Owners will install equipment at the Zimmer Station to convert scrubber spent slurry, presently considered a solid waste currently
disposed of in a landfill, into synthetic gypsum, a useful product. The Owners wish to sell synthetic gypsum to Lafarge, and Lafarge wishes to purchase synthetic gypsum from the Owners, and will use it to produce wallboard, cement, and other
gypsum-related products at a new facility to be constructed in the greater Cincinnati, Ohio area (the ‘Lafarge Plant’), or may resell it to others. 
  

	1.	Installation of Conversion Equipment 

 The Owners will install at their expense the equipment
necessary to convert Zimmer Station scrubber spent slurry to commercial grade synthetic gypsum. 
  

	2.	Purchase of Minimum and Maximum Amounts of Gypsum 

 A. The Owners will sell and deliver to
Lafarge, and Lafarge will purchase from the Owners, a minimum of * * * and a maximum of * * * of dry weight synthetic gypsum which complies with the requirements set forth in Exhibit A (“Complying Gypsum”) during each
* * * of the Contract. A * * * shall be any * * * contract years during the term of the Contract, except that the first * * * shall commence on * * *. 

B. The Owners will sell and deliver to Lafarge, and Lafarge will purchase from the Owners, a minimum of * * * of dry weight
Complying Gypsum during the * * *, commencing on June 1, 2000. The Owners will deliver a minimum total of * * * of dry weight Complying Gypsum during the * * *, a minimum total of * * * of dry weight
Complying Gypsum during the * * *, a minimum total of * * * of dry weight Complying Gypsum during the * * *, and a minimum total of * * * of dry weight Complying Gypsum during the * * *. Lafarge
shall purchase a maximum of * * * of dry weight Complying Gypsum in each of the * * *. 
 C. If the Owners fail to
deliver the minimum amount of Complying Gypsum set forth in Sections 2.A or B., and the Owners’ failure to deliver is not due to an excusable event, as defined in Section 12, the Owners will pay to Lafarge damages equal to (a) the
number of tons of Complying Gypsum by which the owners fail to meet the minimum set forth in Sections 2.A. or B. times (b) the contract price per ton in effect during the period for which the Owners fail to deliver the minimum set forth in
Sections 2.A. or B. For shortfalls in the Owners’ delivery of the required minimum amounts of Complying Gypsum, such damages shall be credited to Lafarge 

  
 1 

 
30 days following the end of the last contract year during the period in which there is a shortfall, and such credit shall be carried forward each month until used by Lafarge, except that any
credit remaining 2 months after the end of the prior contract year shall be paid by check or other mutually agreeable means by the Owners to Lafarge within 30 additional days. At the end of the contract term, the Owners shall pay any credits still
owing to Lafarge within 30 days. 
 D. If the amount of Complying Gypsum which the Owners are capable of delivering to Lafarge exceeds the
maximum amount set forth above, Lafarge may accept or decline to receive the overage at its sole discretion. If Lafarge accepts the overage, the terms of this Contract shall apply to the purchase and sale of such overage amounts. 

E. Lafarge must accept and pay for all Complying Gypsum which the Owners are able to deliver up to the maximum amounts stated in Sections 2.A.
and B. If Lafarge fails to accept Complying Gypsum below the maximum amounts stated in Sections 2.A. and B., and Lafarge’s failure is not due to an excusable event, as defined in Section 12, Lafarge shall pay the Owners the contract price
per ton, as calculated in Section 7, for every ton below the maximum amounts set forth in Sections 2.A. and B. which Lafarge fails to take. lit addition, Lafarge shall pay the Owners damages equal to (a) the number of tons of Complying
Gypsum by which Lafarge fails to take delivery of the maximum set forth in Sections 2.A. or B. times (b) the contract price per ton in effect during the period for which Lafarge fails to take delivery of the maximum set forth in Sections 2.A.
or B. Nothing herein shall affect the validity of Section 16. 
 F. The damages payable by the Owners under Section 2.C. shall be
the sole remedy of Lafarge for the Owners’ failure to deliver the minimum amounts of Complying Gypsum contained in Sections 2.A. and B. The damages payable by Lafarge under Section 2.E. shall be the sole remedy of the Owners for
Lafarge’s failure to take the maximum amounts of Complying Gypsum contained in Sections 2.A. and B. 
  

	3.	Complying Gypsum 

 A. Complying Gypsum shall meet each of the specifications set forth in
Exhibit A. Gypsum shall be sampled, and its compliance with the specifications of Exhibit A shall be determined, in accordance with the protocols set forth in Exhibit A prior to the loading of the gypsum on Lafarge’s barges or the storage of
Gypsum at the Owners’ site. Sampling shall be at the Owners’ expense. 
 B. Lafarge will purchase arid accept deliveries of; and
gypsum will be deemed to be, Complying Gypsum if it contains no less than * * * moisture, no more than * * * moisture, and if the gypsum otherwise meets the specifications to be set forth in Exhibit A The moisture content shall
be determined quarterly, and the quarterly figures shall be weighted on a tonnage basis for an annual average moisture content per ton of Complying Gypsum. Any discount owed to Lafarge shall be credited on the first invoice for the following
contract year and such credit shall be carried forward each month until used by Lafarge. If the amount of the annual discount exceeds the amount owed by Lafarge to the Owners at the end of the contract term, the Owners shall pay the difference to
Lafarge within 30 days. If the annual average moisture content exceeds * * *, rounded to the nearest one-tenth of a percentage point, Lafarge shall be entitled to a discount equal to: 

 

			
	 Moisture Content
	  	Discount Amount
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *

	4.	Non-Complying Gypsum 

 Lafarge may reject or accept, in its sole discretion, Non-Complying
Gypsum (which fails to meet one or more of the specifications in Exhibit A) offered to it by the Owners at a ‘price and under delivery terms to be agreed to by the parties in each instance. 

 

	5.	Delivery 

 A. The Owners will deliver Complying Gypsum by loading it onto Lafarge’s barges
at the Zimmer Station harbor. A belt scale will weigh the gypsum-immediately prior to loading on the barges. The Owners will test and calibrate the belt scale at least once a month in accordance with the National Institute of Standards and
Technology Handbook 44 for belt scales. Lafarge shall have the right to observe the weighing of gypsum and the testing and calibration of the belt scale. The Owners shall provide advance notice to Lafarge of the time and date of the belt scale
calibration. In the event that calibration shows any scale used to weigh gypsum to be inaccurate by more than plus or minus one half of one percent, the inaccuracy shall be presumed to have existed for one-half the number of days since the last time
the scale was calibrated, and an adjustment shall be made to the next invoice to reflect the debit or credit. The Owners shall provide the results of each calibration on the next invoice which is sent to Lafarge. During any period when the
Owner.’ belt scale is inoperable, the parties shall mutually agree to a procedure for determining quantities of Gypsum which permits deliveries of Gypsum to continue. The maximum number of barges which the Zimmer Station is able to load each
24-hour period is * * *. All of Lafarge’s barges entering the Zimmer Station harbor shall be seaworthy, in good operating condition and repair, and in compliance with all laws. The Owners will maintain the Zimmer Station harbor to
accommodate at least a standard draft jumbo barge. When the Owners dredge the Zimmer Station harbor in the normal course of maintaining it, the Owners will dredge to a depth to accommodate a deep draft jumbo barge. The Owners may reject any barge
which 

 
contains free water in the hold, and will give Lafarge customary notice of such rejection. The Owners shall give Lafarge customary notice of the number of barges which they expect will be
required to remove Complying Gypsum the following day. In accordance with such notice, Lafarge must provide a sufficient number of Complying barges to transport all of the Complying Gypsum delivered under this Contract on a timely basis. The Owners
shall provide space at the Zimmer Station harbor for a maximum of * * * barges at any time. 
 B. At the completion of loading
each barge at the Zimmer Station harbor (“delivery”), title to and the risk of loss of the loaded gypsum will pass from the Owners to Lafarge. Lafarge may reallocate such risk of loss in a separate contract between Lafarge and the entity
providing transportation of the barges to the Lafarge Plant. The Owners shall give notice to Lafarge that loading of a barge is complete in the manner customarily given by the Zimmer Station harbor. 

C. The Owners shall use their best efforts to commence delivery of, and Lafarge shall use its best efforts to commence taking, the gypsum by
March 1, 2000. 
 D. If Lafarge elects to purchase and take Non-Complying Gypsum and the moisture content of the Non-Complying Gypsum
exceeds * * *, the Owners will deliver the Non-Complying Gypsum to Lafarge by loading it onto Lafarge’s trucks at a site at the Zimmer Station to be agreed to by the parties. A certified truck scale will be used to determine the net
weight of the gypsum promptly after loading on the truck. At the completion of loading a truck, title to and the risk of loss of the loaded gypsum will pass from the Owners to Lafarge. Lafarge may reallocate such risk of loss in a separate contract
between Lafarge and the entity providing transportation of the trucks. In addition to the price per ton for the Non-Complying Gypsum agreed to by the parties, Lafarge shall pay the Owners a truck loading fee to be determined prior to the beginning
of each contract year. 
  

	6.	Term 

 A. Each contract year shall run from June 1 through May 31. 

B. The initial term of this Contract shall be * * *, beginning on June 1, 2000. The initial term may be extended for
* * * additional periods of up to * * * each at the option of Lafarge by Lafarge giving notice in writing to the Owners of its intent to renew the Contract at least * * * before the expiration of the initial term or
first renewal term, as applicable. Such renewal is conditioned on the parties’ ability to agree, following good faith negotiations, on the terms and conditions, including the price of the gypsum, to apply to the renewal term. Nothing herein
shall compel the Owners to operate the Zimmer Station, but if the Owners elect to continue operation of the Zimmer Station beyond the initial term or the first renewal term, * * *. 

 

	7.	Price 

 A. Lafarge shall pay the Owners * * * for Complying Gypsum delivered during
the initial term of this Contract, subject to annual adjustment on June 1 each year after 2000. The annual adjustment shall be based on changes in * * *. In addition, the price of Complying Gypsum shall be reduced by a fixed rate of
* * * on a dry weight basis during the first * * * of the initial term. The price includes all costs of producing, acquiring and delivering Complying 

 
Gypsum to Lafarge. The annual price adjustment determined in this Section 7.A shall be used to annually adjust the moisture content discount contained in Section 3, the fly ash disposal
discount in Section 7.B., and disposal and storage costs payable to the Owners under Sections 2.E. and 14. 
 B. If the Owners and a
company affiliated with Lafarge enter into a contract for the removal of fly ash from the Zimmer Station, Lafarge shall receive a discount in the price per ton of Complying Gypsum equal to: 

 

			
	 Tons of Fly Ash Removed in A Contract Year
	  	Discount in Price Per Ton of
Complying Gypsum Delivered in the
Same Contract Year as the Fly Ash
Is Removed
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *
		
	 * * *
	  	* * *

 C. The “contract price per ton” of Complying Gypsum shall be determined by (1) starting with
* * * (dry weight); (2) making all annual adjustments to the price per ton as described in Section 7.A (excluding the * * * discount in the first * * *); (3) reducing the price by the moisture content
discount in Section 3.B.; (4) reducing the price by the fly ash removal discount in Section 7.B.; and (5) reducing the price by * * * for the first four contract years. 

 

	8.	* * * 

  

	9.	Authority to Enter into Contract 

 Each party represents that it has the authority and has
secured the approvals necessary to enter into this Contract. 
  

	10.	Warranty 

 The Owners warrant that the gypsum delivered to Lafarge’s barges will be
Complying Gypsum, as determined by the testing protocols to be contained in Exhibit A. except for any Non-Complying Gypsum which Lafarge has agreed to accept. Lafarge’s exclusive remedy for any failure of the Owners to comply with its warranty
obligations in the preceding sentence shall be Lafarge’s right to reject Non-Complying Gypsum in the manner provided in Section 4. 

In addition, the Owners warrant that they will have, at all times during the term of this Contract, good and marketable title to the gypsum to
be delivered hereunder, and that upon delivery of the gypsum, title thereto sha1l pass to Lafarge free and clear of all liens and encumbrances. 

 The Owners do not warrant an uninterrupted or steady supply of Complying Gypsum. However, nothing
contained in this Section sba1l affect the validity of Sections 2.C. and 16. 
 THE FOREGOING EXPRESS WARRANTIES SHALL BE EXCLUSIVE AND
IN LIEU OF ALL OTHER WARRANTIES, WHETHER STATUTORY, EXPRESS OR IMPLIED, INCLUDING ALL WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE AND ALL WARRANTIES ARISING FROM THE PARTIES’ COURSE OF DEALING OR TRADE. 

 

	11.	Confidentiality 

 The parties may not disclose the terms of this Contract to third parties,
except that the parties may disclose such terms as may be required by applicable law, rule, regulation or court or administrative order, including those of environmental, tax and utility regulatory or other governmental bodies, provided they seek in
good faith protection of such information under the laws and regulations applicable to such regulatory body. 
  

	12.	Force Majeure 

 A. Neither Owners nor Lafarge shall be liable to the other for any delay or
failure in the performance of its obligations under this Contract when the delay or failure in performance resu1ts from causes which are beyond its reasonable control, including but not limited to fires, floods, earthquakes, tornadoes, high river
conditions and other unusual weather events; strikes and labor disturbances; acts of God; acts or omissions of governmental authorities; inability beyond a party’s reasonable control to obtain necessary materials, fuel or energy; wrecks or
delays in transportation; riots, civil disturbances or insurrection; embargoes; unplanned Zimmer Station or unplanned Lafarge Plant outages of more than a 14 calendar day duration; or the inability following good faith efforts to obtain or maintain
necessary permits, licenses, authorizations or approvals (“excusable event”), provided that the notice requirement of Section 12.B. is satisfied. 

B. The party whose performance of its obligations hereunder is adversely affected by an excusable event (the “affected party”) shall
promptly notify the other party of the beginning of an excusable event, and confirm the notice in writing within five (5) working days of the event. The notice shall contain a detailed account of the excusable event, including the cause of the
excusable event, an estimate of the duration of any delay, an estimate of the excusable event’s impact to the affected party’s performance, and the plan to mitigate the effects of the excusable event. 

C. In the event that a delay or failure in performance hereunder is an excusable event as defined in Section 12.A, if the affected party
is the Owners, they shall receive a reduction in the minimum amounts required to be sold and delivered in Sections 2.A and B. of * * * times the number of days of the excusable event occurring during the applicable period. If the affected
party is Lafarge, it shall receive a reduction in the maximum amounts required to be purchased and taken in Sections 2.A and B. of * * * times the number of days of the excusable event occurring during the applicable period. 

	13.	Compliance with Laws 

 A. Each party shall perform its obligations under this Contract, and
Lafarge shall use the gypsum to be delivered hereunder, in accordance with all applicable federal, state, county, municipal and local laws, ordinances and regulations. Lafarge represents that it is a sophisticated user of Gypsum, it is aware of the
regulated (Including but not limited to arsenic, beryllium, cadmium, lead, chromium, mercury and nickel) and unregulated elements and materials which may be contained in gypsum, and it agrees to comply with all laws and regulations which protect its
employees, third parties, consumers and the environment relating to the use of the gypsum to be delivered hereunder. 
 B. Each party shall
promptly seek, and shall use its good faith efforts to obtain, at its own expense, all permits, approvals, authorizations and licenses which it requires in order to carry out its obligations hereunder. Once obtained, each party shall, at its own
expense, use its good faith efforts to maintain in full force and effect throughout the term of this Contract all such permits, approvals, authorizations and licenses obtained by it. 

C. Each party agrees to hold harmless and indemnify the other party from all costs, expenses, judgments, fines, and penalties, including
reasonable attorneys’ fees, arising out of the indemnifying party’s failure to comply with the terms of Section 13.A 
  

	14.	Storage of Complying Gypsum on the Owners’ Site 

 A. In the event the Owners are able to
sell and tender delivery of Complying Gypsum to Lafarge, up to the maximum amounts contained in Sections 2A. and B., but Lafarge fails to purchase and take delivery of it, or if the Owners are producing Complying Gypsum but are unable to deliver it,
the Owners may store the Complying Gypsum on their site, up to a maximum stored amount of * * * in covered storage and * * * in uncovered storage. The Owners may dispose of the Complying Gypsum which the Owners cannot deliver or
Lafarge cannot take at their sole discretion, by storage, sale or otherwise. 
 B. Lafarge shall pay the Owners a storage and handling fee
of * * * per ton dry weight for all amounts of Complying Gypsum which the Owners store on their site, in addition to any amounts due under Section 2, unless Lafarge’s failure to take delivery of Complying Gypsum is due to
(1) an excusable event as defined in Section 12, or (2) the Owners’ failure to deliver Complying Gypsum for any reason other than Lafarge’s failure to provide barges as required hereunder. The stored gypsum’s compliance
with the specifications to be contained in Exhibit A shall be determined at the time the gypsum is sent to storage at the Owners’ site. No storage fees shall be payable by Lafarge for amounts which exceed the maximum amounts of Complying Gypsum
contained in Sections 2.A and B. 
  

	15.	Indemnification 

 A. Lafarge shall hold harmless and indemnify the Owners for all costs, losses,
liabilities, expenses, suits, actions, claims, damages and all other obligations and proceedings 

 
whatsoever, including without limitation, all judgments rendered against and all fines and penalties imposed upon Owners, and any reasonable attorneys’ fees and any other costs of litigation
(hereinafter referred to as “liabilities”) arising out of Lafarge’s use of the gypsum product purchased under this Contract, including, without limitation, claims of injuries to persons, including disease or death, or damage to
property caused by Lafarge’s use of the gypsum delivered hereunder. If this indemnity provision is unenforceable under applicable state law, this Section shall be interpreted to impose the maximum legal obligation permitted under such law. The
Owners shall have the right to select their own counsel, and to have counsel separate from Lafarge, all at the Owners’ expense. With respect to claims against the owners by Lafarge’s employees, Lafarge agrees to expressly waive its
immunity, if any, as a complying employee under the applicable workers’ compensation law, but only to the extent that such immunity would bar or affect recovery under or enforcement of this indemnification obligation. With respect to the Stale
of Ohio, this waiver applies to Section 35, Article II of the Ohio Constitution and Ohio Rev. Code Section 4123.74. 
 B. To the
extent not covered by Lafarge’s insurance coverages, the Owner. will bold harmless and indemnify Lafarge from and against all costs, losses, liabilities, expenses, suits, actions, claims, damages, and all other obligations and proceedings
whatsoever, including without limitation, all judgments rendered against and all fines and penalties imposed on Lafarge, and any reasonable attorneys’ fees and any other costs of litigation (hereafter referred to as “liabilities”)
arising out of injury to or death of persons and damage to property or environmental cleanup, response, damage, or other associated costs to the extent arising out of and caused by the negligent delivery of the gypsum by the Owners during the term
of this Contract. Lafarge shall have the right to select their own counse1, and to have counsel separate from the Owners, all at Lafarge’s expense. With respect to claims against Lafarge by the Owner’s employees, the Owners agree to
expressly waive their immunity, if any, as a complying employee under the applicable workers’ compensation law, but only to the extent that such immunity would bar or affect recovery under or enforcement of this indemnification obligation. With
respect to the Stale of Ohio, this waiver applies to Section 35, Article II of the Ohio Constitution and Ohio Rev. Code Section 4123.74. 
  

	16.	Limitation of Liability 

 A. In no event shall the Owners or Lafarge be liable to the other for
any incidental, special, indirect, punitive or consequential damages, including loss of profits or revenues or the loss of use of either; loss by reason of plant shut down or inability to operate at rated capacity; increased expense of operation of
plant or equipment; increased cost of purchasing or providing equipment, materials, supplies or services outside the parties’ scope of supply; cost of replacement power, raw materials or capital; claims of a party’s customers; or inventory
charges. 
 B. Except for liability arising under Section IS, the maximum total liability under this Contract between the Owners and Lafarge
arising out of any and all claims and damages, regardless of whether the claims are based upon contract, warranty, tort, including negligence, strict liability, or otherwise, shall not exceed $40 million. 

	17.	Termination 

 If any one of the Owners or Lafarge files a petition in bankruptcy, or if its
creditors file an involuntary petition in bankruptcy, or if it makes a general assignment for the benefit of its creditors, or if a receiver is appointed on account of its insolvency, or if it commits repeated or material violations of applicable
safety laws, rules, or regulations, or if it otherwise commits a material violation of any provision of this Contract; such party shall be in default under this Contract, and, upon the occurrence of such default, the other party may, without
prejudice to any other right or remedy, and after giving the first party 30 days written notice of the default, terminate this Contract. This Contract shall not be so terminated if the defaulting party has cured the default, or submitted a plan for
curing the default that is reasonably acceptable to the other party, within 30 days of receiving notice of the default. If the defaulting party fails to remedy the default as set forth in the plan, the other party may terminate the Contract without
further notice, and without prejudice to any right or remedy available to it. 
  

	18.	Payment 

 The Owners shall invoice Lafarge the contract price for the total amount of Gypsum
delivered each month, and for other contract adjustments, by the 15th of the following month. Lafarge shall pay by check or other mutually agreeable means such invoices in full by the
* * * of the month in which it receives such invoice. Owners may add * * * a month to any invoice amount which is not paid when due. 
  

	19.	Notice 

 Each party shall designate in writing a representative to receive any and all notices
requited under this Contract to be furnished to such party. Notices shall be in writing and shall be given to the representative designated to receive the same, by personal delivery, by U.S. mail, return receipt requested, by overnight courier, or
by facsimile, properly addressed to such representative. All notices shall be effective upon receipt, or upon such later date following receipt as is set forth in the notice. Any party may, by written notice, change the representative or the address
to which its notices are to be sent. 
  

	20.	Insurance 

 A Lafarge shall obtain and maintain throughout the term of this Contract the
following policies of insurance, in amounts not less than $1 million per occurrence and aggregate: 
  

	 	(1)	Hull Insurance. A policy of hull insurance insuring the barges to be provided by Lafarge for the perils insured by the Taylor Form 1953 (Rev. 70) as amended, or its equivalent, including strikes, riots and civil
commotion and excluding collision liability. 

  

	 	(2)	Protection and Indemnity Insurance. A policy of protection and indemnity insurance subject to P.I. 1955 Form SP 38 as amended, or its equivalent, including collision liability, American Institute Pollution
Exclusion Clause and Buy Back Endorsement A (July 4, 1976). 

	 	(3)	Excess Protection and Indemnity Insurance. A policy of excess protection and indemnity insurance in excess of primary protection and indemnity insurance, including excess of primary collision/towers liability and
pollution buy back endorsement. 

  

	 	(4)	Other Coverage. Policies covering other risks in such amounts as deemed prudent by Lafarge, which shall exclusively bear all loss of cargo after delivery of the gypsum and other risks associated with the
operation and navigation of the barges to be provided by Lafarge while the barges are in Lafarge’s possession. In addition, Lafarge shall carry workers’ compensation, longshoremen’s, harborworkers’ and/or Jones Act coverage, as
required by law. 

  

	 	(5)	The insurance required hereunder shall be placed with reputable, competent, and properly licensed insurers and underwriters or self-insured. Certificates of insurance (or written notice that such insurance requirements
are fulfilled by self-insurance) shall be delivered to the Owners prior to the commencement of the delivery of Gypsum hereunder. The certificates shall state that the policies of insurance may not be canceled or modified without thirty days prior
written notice to the Owners. Lafarge shall pay all premiums and other costs of insurance required hereunder. These insurance requirements may be covered by umbrella policies of insurance or by self-insurance maintained by Lafarge.

 B. The Owners shall obtain and maintain throughout the term of this Contract the following policies of insurance: 

 

	 	(1)	The Owners shall carry workers’ compensation, longshoremen’s, harborworkers’ and/or Jones Act coverage, as required by law. 

 

	 	(2)	The Owners shall carry commercial general liability, wharfage, landing owners and stevedore’s coverage in amounts not less than $1 million per occurrence and aggregate. 

 

	 	(3)	The insurance required hereunder shall be placed with reputable, competent, and properly licensed insurance and underwriters or self-insured. Certificates of insurance (or written notice that such insurance requirements
are fulfilled by self-insurance) shall be delivered to Lafarge prior to the commencement of the delivery of Gypsum hereunder. The certificates shall state that the policies of insurance may not be canceled or modified without thirty days prior
written notice to Lafarge. 

  

	21.	Affiliated Companies 

 Any indemnification of a party or any limitation of a party’s
liability which is made or granted under this Contact shall to the same extent apply to such party’s directors, officers, employees and agents, and to its affiliated companies, including any directors, officers, employees and agents thereof.

	22.	Taxes 

 The price payable hereunder does not include any taxes. Lafarge shall be liable for the
payment of all taxes based on the purchase of Gypsum, except taxes on the net income of Owners. If applicable, Lafarge shall provide Owners with a tax-exempt certificate. 
  

	23.	Miscellaneous 

 A. The Owners and Lafarge shall waive subrogation against each other under their
insurance policies. 
 B. In the event that any of the provisions, or portions thereof, of this Contract are held to be unenforceable or
invalid by any court of competent jurisdiction, the validity and enforceability of the remaining provisions, or portions thereof shall not be affected thereby. 

C. The waiver by either party of any breach of any term, covenant, condition or agreement contained herein or any default in the performance
of any obligations hereunder shall not be deemed to be a waiver of any other breach or delimit of the same or of any other term, covenant, condition, agreement or obligation. 

D. This Contract may not be assigned to a third party, other than an affiliated company or a successor in interest to the business of the
assignor, without the written consent of the other parties, which consent shall not be unreasonably withheld. This Contract shall be binding on the successors and assigns of the parties. 

E. Sections 2.F., 7, 10, 11, 12, 13(c), 14, 15, 16, 17, 18, and 23.G. shall survive the termination of this Contract. 

F. In the event a dispute arises regarding the interpretation of or performance under this Contract, which cannot be resolved by
communications between the Zimmer Plant manager and the Lafarge Plant manager, then each party shall have the right to request in writing a meeting to occur within 5 business days of the receipt of such written request, between the next level of
management for the Owners and Lafarge. Such meeting may occur in person, telephonically, or by any other method mutually agreeable to the Owners and Lafarge. 

G. The rights and obligations of the parties arising out of this Contract shall be governed in all respects by the laws of the State of Ohio.
The parties agree that all actions and proceedings arising under this Contract may be litigated in courts located in the Slate of Ohio. Lafarge agrees that such courts are convenient forums and irrevocably submits to the personal jurisdiction of
such courts. 
 H. This Contract constitutes the entire agreement between the parties and supersedes all previous and collateral agreements
or understandings with respect to the subject matter hereof. 
 No waiver, alteration, amendment or modification of any of the provisions of this Contract
shall be binding unless in writing and signed by the duly authorized representatives of the parties. 

 The parties have signed this Contract by their duly authorized representatives effective on the
last date below. 
  

									
	THE OWNERS:	 		 	
			
	THE CINCINNATI GAS & ELECTRIC COMPANY	 		 	THE DAYTON POWER AND LIGHT COMPANY
					
	By:	 	 /s/ Paul E. King
	 		 	By:	 	 /s/ H. Ted Santos

					
	Title:	 	 VP Power and Fuels
	 		 	Title:	 	 Group VP Energy Production

					
	Date:	 	 12-21-98
	 		 	Date:	 	 12/22/98

			
	COLUMBUS SOUTHERN POWER COMPANY	 		 	
					
	By:	 	 /s/ John J. Jones
	 		 		 	
					
	Title:	 	 Vice President
	 		 		 	
					
	Date:	 	 12/22/98
	 		 		 	
				
	LAFARGE:	 		 		 	
				
	LAFARGE CORPORATION	 		 		 	
					
	By:	 	 /s/ Alain E. Bouruet-Aubertot
	 		 		 	
					
	Title:	 	 Sr. VP – President Gypsum Division
	 		 		 	
					
	Date:	 	 12/29/98
	 		 		 	

 Exhibit A 

* * *

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