Document:

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                        ADMINISTRATIVE SERVICES AGREEMENT

         THIS ADMINISTRATIVE SERVICES AGREEMENT (the "AGREEMENT"), dated
________________ (the "EFFECTIVE DATE"), is made and entered into by and between
________________., a ________________ ("________________"), and
________________, a ________________ (the "________________"). ________________
and ________________ sometimes are referred to herein individually as a "PARTY"
and collectively as the "PARTIES".

                              W I T N E S S E T H:

         WHEREAS, ________________ provides such services, personnel and other
resources described herein to its affiliates; and

         WHEREAS, ________________ is an affiliate of ________________ and
desires to procure certain administrative, accounting and other similar services
from ________________, and ________________ is willing to render such services
to ________________ in accordance with and subject to the terms and conditions
of this Agreement.

         NOW, THEREFORE, in consideration of the premises and of the mutual
agreements herein, the Parties hereto hereby agree as follows:

                                    ARTICLE I

                        TERMS AND CONDITIONS OF SERVICES

         SECTION 1.01. PROVISION OF SERVICES. ________________ hereby agrees to
provide to ________________ the following services (the "SERVICES):

                  (a) Executive management services and advice;

                  (b) Contract administration services and advice.

                  (c) Bookkeeping, accounting and auditing services and advice,
         including the preparation and analyses of financial statements and
         operating reports and the establishment of accounting systems and
         procedures.

                  (d) Finance and treasury services and advice, including the
         preparation of short and long range financial plans, the issuance of
         securities, the negotiation and structuring of financing arrangements,
         and the banking and investment of surplus funds.

                  (e) Tax advice and assistance, including the preparation of
         federal, state and local income and other tax returns and the
         preparation of protests, claims and briefs and other matters in
         connection with any applicable taxes, governmental fees or assessments.

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                  (f) Insurance, bonding and risk management advice and
         assistance, including negotiating contracts with insurers, trustees and
         actuaries and placing insurance policies.

                  (g) Legal services and advice;

                  (h) Procurement services and advice;

                  (i) Information systems services, materials and advice;

                  (j) Use of office space and resources; and

                  (k) Human resources services and advice.

         SECTION 1.02.  INVOICING AND COMPENSATION.

                  (a) As full and complete compensation for the Services
         rendered pursuant to this Agreement, ________________ shall pay to
         ________________, and ________________ shall accept, a fee (the "FEE")
         equal to ________________'s cost to perform the Services. In addition,
         ________________ shall reimburse ________________ for all Incidental
         Expenses and Third Party Expenses. "INCIDENTAL EXPENSES" mean all
         reasonable incidental expenses, including expenses for travel (business
         class air travel), meals, lodging, required business entertainment,
         telephone calls, shipping and similar items, incurred by
         ________________ in connection with its performance of the Services.
         "THIRD PARTY EXPENSES" mean all amounts billed to ________________ by
         third parties for services, including professional services, rendered
         to or on behalf of ________________ in connection with the performance
         of the Services.

                  (b) Unless otherwise agreed by the parties, ________________
         shall submit monthly invoices to ________________ setting forth the
         Fee, Incidental Expenses and Third Party Expenses associated with a
         particular month on or before the fifteenth (15th) day of the
         succeeding month. ________________ shall pay each such invoice within
         thirty (30) days after its receipt thereof. As a condition of
         ________________'s obligation to make payments with respect to each
         invoice, each invoice shall set forth a reasonably detailed description
         of the nature of the Services, Incidental Expenses and Third Party
         Expenses.

                  (c) Any amounts due and owing to ________________ under this
         Section 1.02 that are not paid by ________________ to ________________
         within the required time period, shall accrue interest at the prime
         commercial lending rate as announced from time to time by Citibank or
         its successor, or, in the event it shall dissolve without a successor,
         such other institution as the Parties mutually agree, plus one percent
         (1%).

         SECTION 1.03. COOPERATION AND ACCESS TO PROPERTIES AND RECORDS.
________________ shall cooperate with ________________ and its employees,
advisors and agents (including

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subcontractors) as and when reasonably requested in their performance and
fulfillment of the Services. ________________ and its employees, advisors and
agents (including subcontractors) shall have access to any and all real and
personal property of ________________, and to any and all books and records as
________________ or any of its employees, advisors and agents (including
subcontractors) determines necessary, advisable or appropriate for or in
connection with the provision of any or all of the Services.

         SECTION 1.04. STANDARD OF CONDUCT. ________________ will use its
reasonable best efforts to perform or cause its employees, advisors and agents
(including subcontractors) to perform the Services in accordance with Good
Business Practices. "GOOD BUSINESS PRACTICES" means the practices, methods and
acts, as in effect from time to time, that are commonly used in the independent
power industry to perform or fulfill the activities comprising the Services, or
any practices, methods or acts, which in the exercise of reasonable judgment in
light of the facts known at the time, that could have been expected to
accomplish the desired result at a reasonable cost consistent with good business
practices, reliability, safety and expedition; provided, however, that Good
Business Practices is not intended to be limited to optimum practices, methods
or acts to the exclusion of all others, but rather to be a range of possible
practices, methods or acts taken or engaged in by entities in the independent
power industry. Whether any particular practice, method or act of
________________ complies with Good Business Practices is to be judged in light
of the facts known at the time such particular practice, method or act was
performed or taken.

         SECTION 1.05.  LIMITATIONS ON LIABILITY.

                  (a) ________________ and its employees, advisors and agents
         (including subcontractors) shall have no liability to ________________
         for any loss, damage or expense suffered by ________________ arising
         out of or resulting from any act or omission of ________________ or any
         of its employees, advisors or agents (including subcontractors),
         provided that such act or omission conformed to the standard of conduct
         set forth in Section 1.04 hereof.

                  (b) Notwithstanding any other provision of this Agreement,
         ________________'s total liability to ________________ and all third
         parties for all acts and omissions of ________________, its employees,
         advisors and agents (including subcontractors) in any calendar year,
         including, without limitation, liability arising out of contract, tort
         (including without limitation negligence, gross negligence and
         intentional misconduct), strict liability or any other cause or form of
         action whatsoever, shall not exceed the total compensation paid to
         ________________ during the previous twelve months under any provision
         of this Agreement for the particular service at issue.

                  (c) Pursuant to Sections 1.05(a), (b) and (d), each party (the
         "INDEMNIFYING PARTY") hereby indemnifies and holds the other Party, and
         such other Party's employees, advisors and agents (including
         subcontractors), harmless from and against any and all claims against
         such other Party for personal injury, death or property damage which
         may arise due to any acts or omissions of the Indemnifying Party.

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                  (d) Notwithstanding any other provision of this Agreement,
         neither Party shall be liable to the other Party for any lost profits,
         or indirect, incidental or consequential damages under, arising out of,
         due to or in connection with this Agreement.

                  SECTION 1.06.  INDEPENDENT CONTRACTOR.

                  (a) ________________, in the performance of this Agreement,
         will be acting in its own separate capacity and not as a partner, joint
         venturer or associate of ________________. In performing its duties
         under this Agreement, ________________ shall provide and complete the
         Services required according to its own means and methods of work, which
         shall be in the exclusive charge and control of ________________ and
         not subject to the control or supervision of ________________.

                  (b) ________________ shall be solely responsible for its and
         its employees', advisors' and agents' (including subcontractors) acts
         and omissions with respect to the performance of the Services. Neither
         Party shall maintain, hold out, represent, state or imply to any other
         individual or entity that an employer/employee relationship exists
         between it and the other Party or such other Party's employees,
         advisors or agents (including subcontractors).

                  (c) Neither ________________ nor its employees shall be
         eligible to participate in any employee benefit plan sponsored by
         ________________, including without limitation, any retirement plan,
         insurance program, disability plan, medical benefits plan or any other
         fringe benefit program sponsored and maintained by ________________ for
         its employees.

                  (d) ________________ shall be solely responsible for all taxes
         imposed on ________________ as a result of the transactions
         contemplated by this Agreement.

         SECTION 1.07. SUBCONTRACTORS. ________________ may in its sole
discretion subcontract with other persons or entities, to perform any or all
of the Services on such terms and conditions as ________________ determines
to be necessary, advisable or appropriate under the circumstances of the
subcontract.

         SECTION. 1.08. TERM AND TERMINATION. Unless sooner terminated in
accordance with the provisions of this Agreement, the term of this Agreement
shall commence as of the Effective Date and shall continue until December 31,
2001 (the "INITIAL TERM"). At the end of the Initial Term and each subsequent
Renewal Term (hereinafter defined), as the case may be, the term of this
Agreement shall be automatically renewed for a period of one (1) year (each a
"RENEWAL TERM") unless either Party delivers a written termination notice to the
other Party at least thirty (30) days prior to the end of the Initial Term or
the then current Renewal Term, as the case may be.

                                   ARTICLE II

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                                  MISCELLANEOUS

         SECTION 2.01. GOVERNING LAW. This Agreement and the rights of the
Parties hereunder shall be governed by and interpreted in accordance with the
law of the State of Georgia (without giving effect to principles of conflicts of
laws which would lead to the application of the laws of another jurisdiction).

         SECTION 2.02. SUCCESSORS AND ASSIGNABILITY. Except as otherwise
provided for in Section 1.07, neither ________________ nor ________________ may
assign any of its rights or delegate any of its duties under this Agreement, in
whole or in part, without the prior written consent of the other, which consent
shall not be unreasonably withheld. This Agreement shall be binding upon each of
the Parties and their respective successors and permitted assigns.

         SECTION 2.03. SEVERABILITY. If any provision of this Agreement shall be
determined by any court of competent jurisdiction to be invalid or
unenforceable, the remainder of this Agreement, other than that portion
determined to be invalid or unenforceable, shall not be affected thereby, and
each valid provision hereof shall be enforced to the fullest extent permitted by
law.

         SECTION 2.04. MODIFICATIONS. No change, amendment or modification of
this Agreement shall be valid or binding upon the Parties unless such change,
amendment or modification is in writing and duly executed by both Parties.

         SECTION 2.05. WAIVERS. No provision of this Agreement shall be deemed
waived and no breach shall be deemed excused or consented to unless such waiver
or consent is in writing and signed by the Party claimed to have waived or
consented. No consent by either Party to, or waiver of, a breach by the other,
whether express or implied, shall constitute a consent to, waiver of, or excuse
for any different or subsequent breach.

         SECTION 2.06. ENTIRE AGREEMENT. This Agreement constitutes the Parties'
entire agreement as to the subject matter hereof and supersedes any and all
other prior understandings, correspondence and agreements, oral or written,
between them.

         SECTION 2.07. COUNTERPARTS. This Agreement may be executed in
counterparts, each of which shall be deemed an original hereof but all of which
together shall constitute one and the same instrument. Delivery of execution
pages hereof by facsimile shall constitute valid delivery of this Agreement.

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         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first above written.

----------------                            --------------------

By:                                          By:
       -------------------------------              ----------------------------
Name:                                        Name:
       -------------------------------              ----------------------------
Title:                                       Title:
       -------------------------------              ----------------------------

                                       6<PAGE>
                                                                   EXHIBIT 10.2

                        AMENDED AND RESTATED SERVICES AND
                            RISK MANAGEMENT AGREEMENT

         THIS AMENDED AND RESTATED SERVICES AND RISK MANAGEMENT AGREEMENT (this
"Agreement"), dated as of March 30, 2001 (the "Effective Date"), is by and
between MIRANT AMERICAS ENERGY MARKETING L.P. (formerly known as Southern
Company Energy Marketing L.P.), a Delaware limited partnership ("MAEM"), and
MIRANT CHALK POINT, LLC (formerly known as Southern Energy Chalk Point, LLC), a
Delaware limited liability company ("Chalk Point").

                                    RECITALS

         WHEREAS, Chalk Point owns certain electric generation facilities and
associated facilities located in Prince George's County, Maryland (the
"Generating Station"); and

         WHEREAS, MAEM is an energy marketer which has contracted to purchase
electricity and related energy products from Chalk Point, Mirant Mid-Atlantic,
LLC ("MIRMA"), Mirant Peaker, LLC ("Peaker"), and Mirant Potomac River, LLC
("Potomac River", and collectively with Chalk Point, MIRMA and Peaker, the
"MIRMA Group"); and

         WHEREAS, MAEM is obligated to procure electricity and related energy
products under certain power purchase agreements with Ohio Edison Company and
Pennsylvania Power Company for 450MW, Panda-Brandywine or Panda for
approximately 230MW, Northeast Maryland Waste Disposal for 50MW, and one other
agreement for 2.6MW; and

         WHEREAS, MAEM and Chalk Point entered into that certain Services and
Risk Management Agreement dated December 18, 2000 (the "Existing SRMA"),
pursuant to which the Parties contracted for the provision of certain services
by MAEM to Chalk Point; and

         WHEREAS, the Parties have agreed to amend and restate the Existing SRMA
in its entirety as more particularly set forth herein; and

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

                                   ARTICLE 1.
                                   DEFINITIONS

         The following capitalized terms, whether used in the singular or
plural, shall be defined as provided in this Article 1.

         "AGENCY PERIOD" has the meaning set forth in SECTION 3.2(b)(i).

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         "ANCILLARY AND FREQUENCY RESPONSE SERVICE" shall have the meaning
assigned to that term from time to time by the PJM.

         "BANKRUPTCY PROCEEDING" means, with respect to a Party, that Party (a)
is dissolved (other than pursuant to a consolidation, amalgamation or merger),
(b) makes an assignment or any general arrangement for the benefit of creditors,
(c) institutes or has instituted against it a proceeding seeking a judgment of
insolvency or bankruptcy or any other relief under any bankruptcy or insolvency
or other law affecting creditors' rights and, in the case of any such proceeding
or petition instituted or presented against it, such proceeding or petition (i)
results in a judgment of insolvency or bankruptcy or the entry of an order for
its winding-up or liquidation or (ii) is not withdrawn, dismissed or discharged
within sixty (60) days after the institution or presentation thereof, (d)
otherwise becomes bankrupt or insolvent (however evidenced), (e) has a secured
party take possession of all or substantially all of its assets or has an action
or proceeding taken or levied against all or substantially all of its assets and
such secured party maintains possession, or any such action or proceeding is not
dismissed, in either case for thirty (30) days thereafter, or (f) is unable to
pay its debts or admits in writing its inability generally to pay its debts as
they become due.

         "BID" or "BIDDING" means the nomination or bidding of the output of the
Generating Stations in the PJM.

         "CAPACITY RESOURCES" shall have the meaning assigned to that term from
time to time by the PJM.

         "DISPATCH" means the scheduling of the delivery of PJM Products.

         "EMISSION ALLOWANCES" means authorizations under state or federal (as
applicable) air quality regulations to emit either one ton of nitrogen oxides
("NOx") or sulfur dioxide ("SO2"), in the former case between May 1 through
September 30 of any given year, and in the latter case at any time during any
applicable calendar year.

         "ENERGY" means electric energy as defined by PJM.

         "FORCE MAJEURE" means an event which is not within the reasonable
control of a Party which causes such Party to be delayed in or prevented from
performing or carrying out any of its obligations under this Agreement and which
by the exercise of due diligence in accordance with Good Utility Practices, such
Party is unable to overcome or avoid or cause to be avoided, including, without
limitation, acts of God; fire; ice; earthquake; lightning; tornado; hurricane,
or other severe weather condition; civil disturbance; labor dispute; labor or
material shortage; sabotage; acts of terrorism; acts of a public enemy;
uprising; insurrection; civil unrest; war or rebellion; explosions; breakage or
accident to machinery or equipment, action or restraint by court order or public
or governmental authority or lawfully established civilian authorities, provided
that a Force Majeure shall not include lack of finances or change in market
conditions, and provided further that any failure of any supplier or
subcontractor of a Party to perform any obligation to such Party will not
constitute a Force Majeure unless such subcontractor or supplier

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is unable to perform such obligations for reasons that would constitute a "Force
Majeure" hereunder.

         "FUEL" means fuel oil, natural gas, or coal, as dictated by context.

         "GENERATING STATION" has the meaning provided in the recitals.

         "GOOD UTILITY PRACTICES" mean any of the practices, methods or acts
engaged in or approved by a significant portion of the electric energy industry
with respect to similar facilities during the relevant time period which in each
case, in the exercise of reasonable judgment in light of the facts known or that
should have been known at the time a decision was made, could have been expected
to accomplish the desired result at reasonable cost consistent with good
business practices, reliability, safety, law, regulation, environmental
protection and expedition. Good Utility Practices are not intended to be limited
to the optimum practices, methods or acts to the exclusion of all others, but
rather to delineate the acceptable practices, methods or acts generally accepted
in such industry.

         "MIRMA ASSET BOOK" has the meaning set forth in SECTION 4.1.

         "MIRMA GROUP" has the meaning set forth in the recitals.

         "OPERATING RESERVES" shall have the meaning assigned to that term from
time to time by the PJM.

         "PARTY" means any of MAEM or Chalk Point. In the context where MAEM is
referenced as a "Party," a reference to the "other Party" shall mean Chalk
Point. In the context where Chalk Point is referenced as a "Party," a reference
to the "other Party" shall mean MAEM. References to "either Party" or the
"Parties" shall have comparable meanings.

         "PJM" means the Pennsylvania - New Jersey - Maryland Power Pool.

         "PJM PRODUCTS" means Energy, Operating Reserves, Capacity Resources and
Ancillary and Frequency Response Service, as well as any other products and
ancillary services which become commercially recognized in the PJM market during
the term of this Agreement.

                                   ARTICLE 2.
                                      TERM

         The initial term of this Agreement shall commence as of the Effective
Date and shall continue, unless earlier terminated pursuant to its terms, until
December 31, 2001. The Agreement will automatically renew for successive
one-year terms unless one Party gives the other Party notice of such Party's
intent to terminate this Agreement at least three (3) months prior to the
expiration of any such term.

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                                   ARTICLE 3.
                         SERVICES TO BE PROVIDED BY MAEM

         3.1 BIDDING AND DISPATCH INTO THE PJM. MAEM shall be responsible for
the Bidding and Dispatch of the output of the Generating Station. Without
limitation, MAEM's Bidding and Dispatch strategies shall be consistent with:

         (i)      the operating parameters and limitations of the Generating
                  Station;

         (ii)     Chalk Point's maintenance plans;

         (iii)    the availability of the Generating Station (including Fuel
                  handling and storage facilities), as communicated by Chalk
                  Point to MAEM;

         (iv)     PJM rules and procedures in effect from time to time;

         (v)      other applicable transmission provider requirements; and

         (vi)     Fuel availability.

         3.2 FUEL SERVICES; AGENCY PERIOD. (a) MAEM will provide all Fuel
necessary for the operation of the Generating Station at MAEM's cost, which
shall be calculated as MAEM's actual cost for transportation, inventory and
related costs, as adjusted for any gains or losses on fuel hedges and trading
activities. MAEM will enter into arrangements for the purchase and procurement
of Fuel meeting the specifications for the Generating Station, coordinate the
scheduling, loading, unloading and storage of Fuel deliveries, maintain Fuel
inventory levels, and perform such other Fuel-related services as Chalk Point
may request from time to time, in each case in accordance with Good Utility
Practices.

                  (b)(i) If, at any time, MAEM determines that the
         creditworthiness of Chalk Point is impaired, MAEM may, at its sole
         discretion and upon written notice to Chalk Point, elect to suspend
         Fuel procurement under SECTION 3.2(a) for a period until such
         creditworthiness is restored (each such period, an "Agency Period").
         During any such Agency Period, MAEM shall act solely as agent to Chalk
         Point under this Agreement in taking the actions set forth in this
         SECTION 3.2(b).

                  (ii) During any Agency Period, MAEM's sole obligation shall be
         to use commercially reasonable efforts to procure Fuel as agent of and
         for the account of Chalk Point, and MAEM shall have no obligation to
         provide credit enhancement to any supplier of Chalk Point. MAEM shall
         have no liability to Chalk Point if Fuel suppliers do not agree to
         supply Fuel to Chalk Point due to a lack of creditworthiness of Chalk
         Point. As agent, MAEM shall neither directly purchase or contract for
         the purchase of, nor take title to or possession and control of, any
         Fuel procured for the account of Chalk Point, and MAEM shall have no
         liability to any Fuel supplier or Chalk Point for nonpayment for or

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         nondelivery of procured Fuels, as appropriate. During any Agency
         Period, as between MAEM and Chalk Point, Chalk Point shall be deemed to
         have title, exclusive possession and control of all procured Fuel at
         all times, and any risk of loss associated with any such procured Fuel
         shall be born by Chalk Point.

                  (iii) Each Agency Period shall continue until Chalk Point can
         demonstrate to MAEM that Chalk Point's creditworthiness has been
         restored, as reasonably determined by MAEM. After a positive
         determination as to such creditworthiness, the applicable Agency Period
         shall be terminated by MAEM by written notice to Chalk Point, and MAEM
         shall resume procuring Fuel for Chalk Point under SECTION 3.2(A).

         3.3 EMISSIONS PLANNING AND RELATED RESPONSIBILITIES. MAEM shall provide
Chalk Point emissions planning, in consultation with Chalk Point, to assist in
the compliance of the Generating Station at all times and on an ongoing basis
with all currently effective emissions requirements, permits and regulations.
MAEM will procure all Emission Allowances necessary for the operation of the
Generating Station, and dispose of excess Emission Allowances, which are not
needed for the operation of any other generating stations in the MIRMA Asset
Book. MAEM will charge MAEM's actual cost of acquiring the Emission Allowances
and remit the proceeds of any Emission Allowances sales to Chalk Point, as
adjusted for any gains or losses on emission hedges and trading activities.

         3.4 INSURANCE. MAEM will procure or assist Chalk Point in procuring
business interruption insurance and forced outage insurance covering the
Generating Station. The costs of such insurance will be charged to Chalk Point.

         3.5 FINANCIAL PRODUCTS. MAEM will enter into financial products
(including but not limited to, swaps, contracts for differences, options and
weather derivatives) purchased for Chalk Point. The gains and losses arising
from such financial products will be borne by MIRMA, and therefore the costs,
including without limitation third party broker costs and transaction fees, and
revenues related to such financial products will be charged to or paid to Chalk
Point.

         3.6 POWER MARKET TRANSACTIONS. MAEM will enter into third party
bilateral contracts, forward sales, hedges and other transactions for the
benefit of Chalk Point. The gains and losses arising from such transactions will
be borne by MIRMA, and therefore the costs of such transactions, including
without limitation, purchased power costs, transmission costs, third party
broker costs, transaction fees and incremental credit costs, and revenues
related to such activities will be charged to or paid to Chalk Point.

                                   ARTICLE 4.
                               BILLING AND PAYMENT

         4.1 PAYMENT. MAEM shall pay Chalk Point all amounts payable to Chalk
Point in connection with (a) the services provided by MAEM under ARTICLE 3
hereof, or (b) power sales under any power sales agreements, which payments are
due for the prior month by wire transfer to the payment address provided by
Chalk Point on or before the twentieth (20th) day of each

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month, or if such day is not a business day, the immediately following business
day; provided, that MAEM may deduct from any such payment all expenses incurred
by MAEM in connection with the provision of its services hereunder.

         4.2 SERVICE FEE; BONUS. Chalk Point acknowledges that pursuant to the
terms of that certain Amended and Restated Sevices and Risk Management
Agreement, dated of even date herewith, between MIRMA and MAEM (the "MIRMA
Services Agreement"), MIRMA has agreed to pay MAEM a monthly service fee and a
bonus based upon the aggregate net revenues of the entire MIRMA Group and
calculated in accordance with Sections 4.2 and 4.3, respectively, of the MIRMA
Services Agreement. Chalk Point agrees that MAEM may deduct Chalk Point's
ratable amount of such monthly service fee and bonus from any payment to Chalk
Point under the MIRMA Services Agreement; provided, that MAEM acknowledges that
any such services fees and bonus payments made to MAEM may only be paid pursuant
to the terms of the MIRMA Services Agreement. Such ratable amount shall be
calculated as the total amount of such bonus multiplied by a fraction, the
numerator of which is the amount of net revenues attributable to Chalk Point and
the denominator of which is the aggregate net revenues for the entire MIRMA
Group.

                                   ARTICLE 5.
                              DEFAULTS AND REMEDIES

         5.1 EVENTS OF DEFAULT. Any one or more of the following shall
constitute an "Event of Default" hereunder with respect to a Party:

         (a) default shall occur in the payment of any amounts due from such
Party hereunder which shall continue for more than ten (10) days after written
notice from the other Party;

         (b) other than as provided in SECTION 5.1(a) above, default shall occur
in the performance of any covenant or condition to be performed by such Party
under this Agreement and such default shall continue unremedied for a period of
thirty (30) days after written notice from the other Party specifying the nature
of such default;

         (c) a Bankruptcy Proceeding has occurred with respect to such Party; or

         (d) a representation or warranty made by such Party herein shall have
been false or misleading in any material respect when made; provided, however,
if such representation or warranty is capable of being corrected, no Event of
Default shall have occurred if such Party is diligently pursuing such correction
and such representation or warranty is corrected within thirty (30) days of such
Party obtaining knowledge of the false and misleading nature of the statement.

         5.2 REMEDIES. The Parties shall have the following remedies available
to them hereunder:

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         (a) Upon the occurrence of an Event of Default by either Party
hereunder, the non-defaulting Party shall have the right (i) to collect all
amounts then or thereafter due to it from the defaulting Party hereunder, and
(ii) upon written notice to the other Party, to terminate this Agreement at any
time during the continuation of such Event of Default. The terminating Party
shall have all rights and remedies available to it under applicable law, subject
to the limitations set forth in SECTION 7.7.

         (b) Without limiting the foregoing, any unexcused breach of this
Agreement or failure of either Party to perform its obligations hereunder shall
subject such Party to the payment of actual damages to the other Party,
regardless of any cure period.

                                   ARTICLE 6.
                                  FORCE MAJEURE

         If either Party is rendered wholly or partly unable to perform its
obligations under this Agreement because of a Force Majeure event, that Party
will be excused from whatever performance is affected by the Force Majeure event
to the extent so affected, provided that (a) the non-performing Party, as soon
as practical after knowing of the occurrence of the Force Majeure event, gives
the other Party written notice describing the particulars of the occurrence; (b)
the suspension of performance is of no greater scope and of no longer duration
than is reasonably required by the Force Majeure event; (c) the non-performing
Party uses commercially reasonable efforts to overcome or mitigate the effects
of such occurrence; and (d) when the non-performing Party is able to resume
performance of its obligations hereunder, that Party shall give the other Party
written notice to that effect and shall promptly resume such performance.

                                   ARTICLE 7.
                            MISCELLANEOUS PROVISIONS

         7.1 ASSIGNMENT; SUCCESSORS AND ASSIGNS. No assignment or delegation by
either Party (or any successor or assignee thereof) of this Agreement, in whole
or in part, shall be made or become effective without the prior written consent
of the other Party in each case obtained, which consent may not be unreasonably
withheld. Any assignments or delegations by either Party shall be in such form
as to assure that such Party's obligations under this Agreement will be honored
fully and timely by any succeeding party.

         7.2 NOTICES. All notices, requests and other communications hereunder
(herein collectively a "notice" or "notices") shall be deemed to have been duly
delivered, given or made to or upon any Party hereto if in writing and delivered
by hand against receipt, or by certified or registered mail, postage pre-paid,
return receipt requested, or to a courier who guarantees next business day
delivery or sent by telecopy (with confirmation) to such Party at its address
set forth below or to such other address as such Party may at any time, or from
time to time, direct by notice given in accordance with this SECTION 7.2.

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<TABLE>
<S>                             <C>
         IF TO CHALK POINT:     Mirant Chalk Point, LLC
                                1155 Perimeter Center Place
                                Atlanta, Georgia 30338
                                Attention: President and Chief Executive Officer

         IF TO MAEM:            Mirant Americas Energy Marketing L.P.
                                1155 Perimeter Center Place
                                Atlanta, Georgia 30338
                                Attention:  Vice President, Mid-Atlantic Region
</TABLE>

The date of delivery of any such notice, request or other communication shall be
the earlier of (i) the date of actual receipt or (ii) three (3) business days
after such notice, request or other communication is sent by certified or
registered mail, (iii) if sent by courier who guarantees next business day
delivery, the business day next following the day of such notice, request or
other communication is actually delivered to the courier or (iv) the day
actually telecopied.

         7.3 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
UNDER THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO PRINCIPLES OF
CONFLICTS OF LAW THAT WOULD OTHERWISE CAUSE THE LAW OF ANY STATE OTHER THAN NEW
YORK TO APPLY.

         7.4 COMPLIANCE WITH LAWS. At all times during the term of this
Agreement, the Parties shall comply with all laws, rules, regulations, and codes
of all governmental authorities having jurisdiction over each of their
respective businesses which are now applicable, or may be applicable hereafter,
including without limitation, all special laws, policies, ordinances, or
regulations now in force, as amended or hereafter enacted. The Parties hereto
shall maintain all licenses, permits and other consents from all governmental
authorities having jurisdiction for the necessary use and operation of their
respective business. Nothing herein shall be deemed a waiver of the Parties'
right to challenge the validity of any such law, rule or regulation.

         7.5 ENTIRE AGREEMENT. This Agreement sets forth the entire agreement of
the Parties with respect to the subject matter herein and takes precedence over
all prior understandings. This Agreement may not be amended except by a writing
signed by the Parties.

         7.6 SEVERABILITY. The invalidity or unenforceability of any provisions
of this Agreement shall not affect the other provisions hereof. If any provision
of this Agreement is held to be invalid, such provisions shall not be severed
from this Agreement; instead, the scope of the rights and duties created thereby
shall be reduced by the smallest extent necessary to conform such provision to
the applicable law, preserving to the greatest extent the intent of the Parties
to create such rights and duties as set out herein. If necessary to preserve the
intent of the Parties hereto, the Parties shall negotiate in good faith to amend
this Agreement, adopting a substitute provision for the one deemed invalid or
unenforceable that is legally binding and enforceable and which restores to the
two Parties to the greatest extent possible the benefit of their respective
bargains on the Effective Date.

                                       8
<PAGE>

         7.7 LIMITATION ON DAMAGES. NEITHER PARTY SHALL BE ENTITLED TO RECOVER
SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES HEREUNDER.

         IN WITNESS WHEREOF, and intending to be legally bound hereby, the
Parties hereto have caused this Agreement to be duly executed as an instrument
under seal by their respective duly authorized officers as of the date and year
first above written.

<TABLE>
<S>                                         <C>
MIRANT AMERICAS ENERGY                      MIRANT CHALK POINT, LLC
MARKETING L.P.

By MIRANT AMERICAS
DEVELOPMENT, INC.,
its General Partner

By:  _____________________________          By: _____________________________
Name: ____________________________          Name:____________________________
Title: ___________________________          Title:  _________________________
</TABLE>

                                       9

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