Document:

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                          AGREEMENT CONCERNING GUARANTY

         The parties to this Agreement Concerning Guaranty (this "Agreement")
         are:

         (a)      Founders Food & Firkins Ltd., a Minnesota corporation (the
                  "Borrower");

         (b)      Steven Wagenheim, a resident of the State of Minnesota
                  ("Wagenheim");

         (c)      Arthur E. Pew III, a resident of the State of Minnesota
                  ("Pew"); and

         (d)      William Burdick, a resident of the State of Minnesota
                  ("Burdick").

                                    RECITALS

         WHEREAS, Borrower intends to enter into a certain loan agreement with
First National Bank, a national banking association (the "Bank"), under which
the Bank will provide the Borrower with financing in the principal amount of
$1,500,000 (the "Loan"); and

         WHEREAS, the Bank has required, as a condition to making the proposed
loan, that Messrs. Pew, Burdick, and Wagenheim guaranty all or a portion of the
obligations of the Borrower to the Bank; and

         WHEREAS, the obligations of Messrs. Pew, Burdick, and Wagenheim the
Bank will be evidenced by certain separate guaranty agreements dated as of July
19, 2001 (hereafter the "Pew Guaranty," the "Burdick Guaranty" and the
"Wagenheim Guaranty"); and

         WHEREAS, the parties have entered into this Agreement to memorialize
the relationship between the parties with respect to the proposed loan and
guaranty obligations and to induce Messrs. Pew, Wagenheim and Burdick to
guaranty all or a portion of the loan to be made by the Bank.

         NOW, THEREFORE, in consideration of the premises the parties hereby
agree as follows:

                                   1. RECITALS

         The foregoing recitals are incorporated herein and shall form a part
hereof for all purposes.

                                 2. DEFINITIONS

         (a)      As used herein:

                  (i)      The term "Debt" means

                           (aa) indebtedness for borrowed money or for the
                  deferred purchase price of property or services,
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                           (bb) obligations as lessee under leases,

                           (cc) obligations under direct or indirect guaranties
                  in respect of, and obligations (contingent or otherwise) to
                  purchase or otherwise acquire or otherwise insure a creditor
                  against lost in respect of, indebtedness or obligations of
                  others of the kinds referred to in clauses (aa) and (bb)
                  above, except endorsements for collection, deposit or
                  negotiation of instruments in the ordinary course of business;
                  and

                           (dd) liabilities in respect of unfunded vested
                  benefits under plans covered by Title V of the Employment
                  Income Retirement Security Act.

                  (ii) The term "Liens" means any mortgage, deed of trust,
         pledge, security agreement, assignment, deposit arrangement,
         encumbrance, lien (statutory or otherwise), or preference, priority or
         other security agreement or preferential arrangement, charge or
         encumbrance of any kind or nature whatsoever, including, without
         limitation, any conditional sale or other title retention agreement,
         any financing lease having substantially the same economic effect as
         any of the foregoing, or the filing of any financing statement under
         the uniform commercial code or comparable law of any jurisdiction to
         evidence any of the foregoing.

         (b) Terms not otherwise defined in this Agreement shall be defined in
accordance with the Loan Agreement executed between the Borrower and the Bank as
of July 19, 2001 (the "Loan Agreement").

                            3. INDEMNITY OBLIGATIONS

         (a) Borrower, Mr. Wagenheim and Mr. Burdick, jointly and severally,
hereby agree to indemnify and hold Mr. Pew harmless from any and all costs,
expenses, claims, damages and liabilities which may be claimed against or
incurred by Mr. Pew by reason of any demand made by Mr. Pew under the Pew
Guaranty, including, without limitation, all amounts paid to the Bank by Mr. Pew
under the Pew Guaranty, together with interest on such amount from the date paid
by Mr. Pew at an annual rate equal to eight and 75/100ths percent (8.75%), all
attorney's fees and other costs of litigation incurred by Mr. Pew in connection
with any demand made for payment under the Pew Guaranty or in connection with
the enforcement of any right or remedy of Mr. Pew under this Agreement.

         (b) Borrower (but not Messrs. Pew or Burdick) hereby agrees to
indemnify and hold Mr. Wagenheim harmless from any and all costs, expenses,
claims, damages and liabilities which may be claimed against or incurred by Mr.
Wagenheim by reason of any demand made by Mr. Wagenheim under the Wagenheim
Guaranty, including, without limitation, all amounts paid to the Bank by Mr.
Wagenheim under the Wagenheim Guaranty, together with interest on such amount
from the date paid by Mr. Wagenheim at an annual rate equal to eight and
75/100ths percent (8.75%), all attorney's fees and other costs of litigation
incurred by Mr. Wagenheim in connection with any demand made for payment under
the Wagenheim Guaranty or in connection with the enforcement of any right or
remedy of Mr. Wagenheim under this Agreement.

                                       -2-

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         (c) Borrower (but not Messrs. Pew or Wagenheim) hereby agrees to
indemnify and hold Mr. Burdick harmless from any and all costs, expenses,
claims, damages and liabilities which may be claimed against or incurred by Mr.
Burdick by reason of any demand made by Mr. Burdick under the Burdick Guaranty,
including, without limitation, all amounts paid to the Bank by Mr. Burdick under
the Burdick Guaranty, together with interest on such amount from the date paid
by Mr. Burdick at an annual rate equal to eight and 75/100ths percent (8.75%),
all attorney's fees and other costs of litigation incurred by Mr. Burdick in
connection with any demand made for payment under the Burdick Guaranty or in
connection with the enforcement of any right or remedy of Mr. Burdick under this
Agreement.

         (d) Burdick and Wagenheim hereby agree that if either of them shall be
obligated to discharge any debt pursuant to their respective guaranties, it is
their intent that they pay or discharge obligations under the Loan in equal
shares and will reimburse, or contribute to, each other for any amounts paid in
excess of fifty percent (50%) thereof actually paid by either of them in order
that their obligations under the Loan be discharged in equal shares.

                          4. INDEMNIFICATION PROCEDURE

         (a) In case any claim or proceeding shall be instituted affecting any
indemnified person in respect of which indemnity may be sought pursuant to
Section 3 above, such indemnified person shall promptly (considering the
circumstances) notify the indemnifying person or persons in writing.

         (b) The parties to this agreement agree that Messrs. Pew, Wagenheim, or
Burdick, may compromise and pay any demand made by the Bank under the Pew,
Wagenheim or Burdick Guaranty, as appropriate, without the consent of any other
party to this Agreement and without affecting any indemnify obligation created
under this Agreement.

                            5. COVENANTS OF BORROWER

         (a) So long as the Pew Guaranty shall remain outstanding, Borrower
shall not, without the written consent of Mr. Pew:

                  (i) Modify the terms and conditions of the Loan Agreement, the
         Note or any of the documents delivered thereunder, including, without
         limitation, the Leasehold Mortgage (all of which documents are herein
         referred to as the "Loan Documents") to increase the amount or interest
         rate of Debt, reduce or extend the maturity date of the Note, or
         increase in any way the obligations of Pew under the Pew Guaranty;

                  (ii) Default in the payment of any amount payable by the
Borrower under the Loan Agreement, Note, or the other Loan Documents;

                  (iii) Create or suffer to exist any Debt except (aa) Debt
         under the Loan Agreement and (bb) ordinary trade debt that is not in
         default or that is unsecured,

                                       -3-

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         or (cc) debt incurred in the ordinary course of Borrower's operations
         as would be incurred or suffered by a company operating in the
         restaurant industry, but not exceeding $100,000 at any time.

                  (iv) Create or suffer to exist any Lien except liens permitted
under the Leasehold Mortgage.

         (b) In addition to the foregoing, Borrower agrees to provide Messrs.
Pew, Wagenheim and Burdick with copies of all notices delivered or required to
be delivered by Borrower to the Bank under the Loan Agreement and with all
demands and notices received by Borrower from the Bank with respect to the
transactions referred to in the Loan Agreement.

                             6. REFINANCING EFFORTS

         Borrower agrees to use its best efforts to replace or refinance the
loan evidenced by the Loan Agreement and Note and to obtain a release of the Pew
Guaranty by no later than January 1, 2006. In the event that Borrower has not
obtained a release of the Pew Guaranty by no later than January 1, 2006, then,
in such event, Borrower shall pay to Mr. Pew a monthly guaranty fee in the
amount $1,000, beginning on the first day of February, 2006 and continuing on
the first day of each month thereafter for so long as the Pew Guaranty remains
outstanding.

                                   7. GUARANTY

         By signing below Messrs. Wagenheim and Burdick unconditionally and
jointly and severally guaranty payment and performance of the Borrower's
obligations under Section 6 above.

                                8. MISCELLANEOUS

         (a) No amendment or waiver of the provisions of this Agreement shall be
effective unless such amendment or waiver is in writing and is signed by all
parties to this Agreement.

         (b) All notices and other communications provided for hereunder shall
be in writing and shall be effective when mailed to the address set forth in the
signature page to this Agreement or to such other addresses the parties hereto
may specify in writing.

         (c) This Agreement shall be governed by the internal laws of the State
of Minnesota.

         (d) If any term of this Agreement shall be held to be illegal or
unenforceable the remaining parts of this Agreement shall not be affected and
this Agreement shall be construed and enforced as if this Agreement did not
contain the term held to be illegal or unenforceable.

         (e) This Agreement shall be binding upon, and shall inure to the
benefit of, the parties hereto and their respective successors and assigns.

                                      -4-

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                       9. ACKNOWLEDGMENT OF REPRESENTATION

         THE PARTIES ACKNOWLEDGE THAT THIS AGREEMENT HAS BEEN PREPARED BY
COUNSEL FOR MR. PEW. BORROWER AND MESSRS. WAGENHEIM AND BURDICK ACKNOWLEDGE AND
AGREE THAT BRIGGS AND MORGAN HAS ACTED AS COUNSEL FOR THE BORROWER WITH RESPECT
TO THE NEGOTIATION AND PREPARATION OF THE LOAN AGREEMENT AND OTHER LOAN
DOCUMENTS AND THAT BRIGGS AND MORGAN REGULARLY SERVES AS COUNSEL FOR THE
BORROWER, AND HAS RENDERED LEGAL ADVICE TO MR. WAGENHEIM IN OTHER MATTERS.
BRIGGS AND MORGAN HAS SERVED AS COUNSEL FOR BORROWER AND HAS RENDERED LEGAL
ADVICE TO PEW BASED UPON THEIR ASSURANCES THAT THEY HAVE A COMMON GOAL OF
FINANCING BORROWER'S TRANSACTION WITH THE BANK AND THAT THIS AGREEMENT
FACILITATES THAT GOAL. BRIGGS AND MORGAN IS NOT SERVING AS COUNSEL FOR WAGENHEIM
AND BURDICK IN CONNECTION WITH THIS AGREEMENT AND WAGENHEIM AND BURDICK
ACKNOWLEDGE THAT THEY HAVE BEEN ADVISED TO OBTAIN ADVICE OF THEIR OWN LEGAL
COUNSEL WITH RESPECT TO THE MATTERS CONTAINED HEREIN. BORROWER AND MESSRS.
WAGENHEIM AND BURDICK HEREBY WAIVE ANY CLAIM OF CONFLICT OF INTEREST ARISING
FROM BRIGGS AND MORGAN'S NEGOTIATION AND PREPARATION OF THIS AGREEMENT ON BEHALF
OF MR. PEW AND SUCH PARTIES FURTHER ACKNOWLEDGE AND AGREE THAT THEY HAVE
OBTAINED SUCH INDEPENDENT ADVICE AND COUNSEL AS MAY BE NECESSARY OR APPROPRIATE
UNDER THE CIRCUMSTANCES.

         BORROWER HEREBY AGREE TO REIMBURSE MESSRS. PEW, WAGENHEIM AND BURDICK
FOR ANY COSTS AND EXPENSES, INCLUDING ATTORNEY'S FEES, INCURRED BY SUCH PARTIES
IN CONNECTION WITH THE NEGOTIATION AND PREPARATION OF THIS AGREEMENT.

         IN WITNESS WHEREOF, this Agreement has been executed as of the date
shown below.

Dated:  July 17, 2001
                                       FOUNDERS FOOD & FIRKINS LTD, a
                                       Minnesota corporation

                                       By  /s/ Steven J. Wagenheim
                                           -----------------------
                                              Its  PRESIDENT
                                       ADDRESS:     5831 Cedar Lake Road
                                                    St. Louis Park, MN 55416

                                       -5-

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Signature page to Agreement
Concerning Guaranty dated
July 17, 2001.

                                       /s/ Arthur E. Pew III
                                       ---------------------
                                       Arthur E. Pew, III

                                       ADDRESS:     2515 Manitou Island
                                                    White Bear Lake, MN 55110

                                       /s/ Steven J. Wagenheim
                                       -----------------------
                                       Steven Wagenheim

                                       ADDRESS:     5831 Cedar Lake Road
                                                    St. Louis Park, MN 55416

                                       /s/ William J. Burdick
                                       ----------------------
                                       William Burdick

                                       ADDRESS:

                                       -6-<PAGE>

                                                                  Exhibit 10.1

                               AMENDMENT AGREEMENT

         This AMENDMENT AGREEMENT (this "Agreement"), is made and entered into
as of August 1, 2001, among NEVADA POWER COMPANY (the "Company"), MELLON BANK,
N.A. ("Mellon"), FIRST UNION NATIONAL BANK ("First Union"), WELLS FARGO BANK,
N.A. ("Wells Fargo"), and the other parties set forth on the signatures pages
hereto.

                                    RECITALS

         A. The Company, Mellon, in its capacity as administrative agent (the
"Administrative Agent"), First Union and Wells Fargo, each in their capacity as
syndication agent, and the Lenders have entered into a Credit Agreement, dated
as of June 24, 1999 (as amended, modified and supplemented through the date
hereof, the "Credit Agreement").

         B. The Company desires, and the Administrative Agent and the Required
Lenders are willing, to amend the Credit Agreement upon the terms set forth in
this Agreement.

         NOW, THEREFORE, in consideration of the foregoing, the premises and
mutual covenants contained herein and for other valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows:

         1. Defined Terms.  Unless otherwise defined herein, capitalized terms
used herein shall have the meanings given thereto in the Credit Agreement.

         2. Effectiveness of this Agreement. This Agreement shall become
effective and the amendments described in Section 3 below shall become effective
at the time (the "Effective Time") on the first date (the "Effective Date") on
which each of the following conditions shall be satisfied or waived by the
Administrative Agent and the Required Lenders:

                  (a) Execution of Agreement. The Company and the Required
         Lenders shall have executed a copy of this Agreement (whether the same
         or different copies) and shall have delivered the same to the
         Administrative Agent.

                  (b) No Litigation. The Administrative Agent and the Required
         Lenders shall be satisfied that, immediately prior to the Effective
         Time, no judgment, order, injunction or other restraint shall have been
         issued or filed which restrains, and no hearing seeking injunctive
         relief or other restraint is pending or has been noticed which seeks to
         restrain, the Company from consummating the transactions described in
         the Loan Documents or this Agreement.

                  (c) No Default; Representations and Warranties. The
         Administrative Agent and the Required Lenders shall be satisfied that,
         immediately prior to the Effective Time and after giving effect to this
         Agreement, (i) there shall exist no Default or Event of Default and
         (ii) the representations and warranties of the Company contained in the
         Loan Documents to which the Company is a party are true and correct in
         all material respects as of the Effective Time with the same effect as
         though such representations and

<PAGE>

         warranties had been made on and as of the Effective Time (except for
         such representations and warranties made as of a specified date, which
         shall be true and correct in all material respects as of such
         specified date).

                  (d) Corporate Proceedings. All corporate and legal proceedings
         and all instruments and agreements in connection with the transactions
         contemplated in this Agreement and the other Loan Documents shall be
         satisfactory in form and substance to the Administrative Agent and the
         Required Lenders, and the Administrative Agent shall have received all
         information and copies of all documents and papers, including records
         of corporate proceedings and governmental approvals, if any, which any
         Lender reasonably may have requested in connection therewith, such
         documents and papers where appropriate to be certified by proper
         corporate or governmental authorities.

                  (e) Fee. For consenting to the amendments contained in this
         Agreement, each Lender that executes and delivers this Agreement prior
         to 5:00 p.m., Pacific Time, on July 31, 2001 shall have received on or
         before the Effective Date a fee in immediately available funds equal to
         the product of (i) 0.25% and (ii) the aggregate amount of such Lender's
         Commitments.

                  (f) Payments. The Administrative Agent and each Lender shall
         have received all amounts, if any, owing from the Company to such
         Person through and including the Effective Date.

All the certificates and other documents and papers referred to in this Section
2, unless otherwise specified, shall be delivered to the Administrative Agent's
counsel, White & Case LLP, at 633 West Fifth Street, 19th Floor, Los Angeles, CA
90071, facsimile (213) 687-0758, for the account of each of the Lenders and in
sufficient counterparts for each of the Lenders and shall be satisfactory in
form and substance to the Administrative Agent and the Required Lenders.

         3. Amendments. At and from the Effective Time, the Credit Agreement
shall be amended as follows:

                  (a) The cover page to the Credit Agreement shall be amended by
         deleting the text "$150,000,000" and inserting the text "$120,000,000"
         in its place.

                  (b) Section 1.01 of the Credit Agreement shall be amended as
         follows:

                           (i) The defined term "Commitment" shall be amended by
                  deleting the text "$150,000,000" in the last sentence thereof
                  and inserting the text "$120,000,000" in its place.

                           (ii) The defined term "Final Repayment Date" shall be
                  deleted in its entirety and the following shall be substituted
                  therefor:

                                    "Final Repayment Date" means the earliest
                           to occur of (a) the date that is one year after the
                           Term Loan Conversion Date, (b) August 27,

                                      -2-
<PAGE>

                           2002 and (c) the date on which the Obligations under
                           this Agreement terminate, whether by prepayment,
                           cancellation, acceleration or otherwise."

                           (iii) The following defined term shall be inserted
                  immediately after the definition of "GAAP":

                                    "General and Refunding Mortgage Indenture"
                           means the General and Refunding Mortgage Indenture,
                           dated as of May 1, 2001, between the Borrower and The
                           Bank of New York, as trustee, as the same may be
                           amended, modified or supplemented from time to time."

                           (iv) The defined term "Revolving Termination Date"
                  shall be deleted in its entirety and the following shall be
                  substituted therefor:

                                    "Revolving Termination Date" means the
                           earlier of (i) November 30, 2001, or such date after
                           November 30, 2001 to which the Commitments are
                           extended in accordance with Section 2.06(e), and (ii)
                           the date the Obligations and Commitments under this
                           Agreement terminate, whether by prepayment,
                           cancellation, acceleration or otherwise."

                           (v) The following defined term shall be inserted
                  immediately after the definition of "Total Indebtedness":

                               "Triggering Event" has the meaning assigned to
                           such term in Section 6.09(b)."

                  (c) Section 6.01(a) of the Credit Agreement shall be amended
         by deleting the text "0.58 to 1" and inserting the text "0.60 to 1" in
         its place.

                  (d) Section 6.02(b) of the Credit Agreement shall be deleted
         in its entirety and the following shall be substituted therefor:

                           "(b) Liens securing obligations issued under and
                  pursuant to the terms and conditions of either (i) the First
                  Mortgage Indenture or (ii) the General and Refunding Mortgage
                  Indenture; provided that the aggregate amount of Indebtedness
                  issued by the Company under and pursuant to the terms and
                  conditions of the First Mortgage Indenture and the General and
                  Refunding Mortgage Indenture shall not exceed $772.50 million,
                  except that such Indebtedness may exceed $772.50 million to
                  the extent, and only to the extent, required (x) to secure
                  Loans pursuant to Section 6.09(b) of this Agreement, and any
                  similar provision of any future short-term credit facility in
                  a principal amount not to exceed $175,000,000 among the
                  Borrower, the Administrative Agent, as agent, and the other
                  financial institutions party thereto, (y) to satisfy a
                  negative pledge to AMBAC Assurance Corporation in the amount
                  of $115,000,000 of First Mortgage Bonds and (z) to satisfy a
                  negative pledge to holders of the Borrower's 6.20% Senior
                  Unsecured Notes, Series B, due April 15, 2004 in the amount of
                  $130,000,000 of General and Refunding Mortgage Bonds."

                                      -3-
<PAGE>
                  (e) Section 6.04 of the Credit Agreement shall be amended by
         deleting it in its entirety and replacing it with the following:

                           "SECTION 6.04  Dispositions of Properties.

                           The Borrower shall not, and shall not permit any of
                  its Subsidiaries to, sell, convey, assign, lease,
                  sale-leaseback, transfer, abandon or otherwise dispose of,
                  voluntarily or involuntarily (collectively, "Dispose"), any of
                  its Properties, or agree, become or remain liable contingently
                  or otherwise to do any of the foregoing, except that, so long
                  as no Default or Event of Default shall have occurred and be
                  continuing or shall exist at such time or after giving effect
                  to such transaction, the Borrower and its Subsidiaries may
                  Dispose of Property (a) in transactions in the ordinary course
                  of business consistent with past practice, (b) that is
                  obsolete, (c) comprising accounts receivable transferred to a
                  commercial paper conduit, special purpose subsidiary or
                  similar entity; provided that (i) the aggregate face amount of
                  such accounts receivable, when added to the aggregate face
                  amount of all other accounts receivable Disposed of in
                  reliance on this clause (c), does not exceed $125,000,000 and
                  (ii) the net cash proceeds from the Disposition of such
                  accounts receivable, (A) when added to the net cash proceeds
                  of all other Dispositions of accounts receivable made in
                  reliance on this clause (c), are not less than 80% of the
                  aggregate face amount of all accounts receivable Disposed of
                  in reliance on this clause (c) and (B) at the time of such
                  Disposition, do not exceed the sum of (I) the balance of the
                  Borrower's deferred energy accrual account at such time and
                  (II) the Borrower's deferred energy costs actually incurred
                  but not yet reflected in the Borrower's deferred energy
                  accrual account, in each case as set forth in the Borrower's
                  books and records; provided, further, that each Disposition
                  made by the Borrower in reliance on this clause (c) shall
                  constitute a representation and warranty of the Borrower, made
                  at the time of such Disposition, that the conditions set forth
                  in clauses (i) and (ii) above are satisfied at such time and
                  (d) in transactions other than as provided in Section 6.04
                  (a), (b) and (c); provided that the aggregate book value of
                  all Property Disposed of pursuant to this Section 6.04(d) from
                  and after the date hereof shall not exceed $50,000,000."

                  (f) Section 6.09 of the Credit Agreement shall be amended by
         deleting it in its entirety and replacing it with the following:

                           "SECTION 6.09  Equal and Ratable Lien; Grant of
                  Security Interest in Certain Events.

                           (a) If, notwithstanding the prohibition contained in
                  Section 6.02, the Borrower or any of its Subsidiaries is
                  subjected to any Lien upon any of its Property, other than
                  those permitted by the provisions of Section 6.02, the
                  Borrower will, and will cause its Subsidiaries to, make or
                  cause to be made effective

                                      -4-

<PAGE>

                  provisions whereby the Borrowings will be secured equally and
                  ratably with any and all other obligations thereby secured,
                  such security to be pursuant to agreements reasonably
                  satisfactory to the Administrative Agent and, in any such
                  case, the Borrowings shall have the benefit, to the fullest
                  extent that, and with such priority as, the Lenders may be
                  entitled under applicable law, of an equitable Lien on such
                  Property. Such violation of Section 6.02 will constitute an
                  Event of Default, whether or not provision is made for an
                  equal and ratable Lien pursuant to this Section 6.09, and no
                  such Lien or agreements with respect thereto shall be deemed
                  to be a waiver of or consent to such Event of Default by the
                  Administrative Agent or any Lender.

                           (b) If any of the following (each, a "Triggering
                  Event") shall occur:

                                    (x) Sierra Pacific Resources shall not
                           complete an underwritten public offering of its
                           common stock with minimum net proceeds to Sierra
                           Pacific Resources of $200,000,000 by September 30,
                           2001;

                                    (y) Moody's shall rate (1) the Index Debt or
                           the senior, unsecured, long-term indebtedness for
                           borrowed money of SPPC as Baa3 or lower, or (2) the
                           commercial paper of the Borrower or SPPC below
                           Prime-2; or

                                    (z) S&P shall rate (1) the Index Debt or the
                           senior, unsecured, long-term indebtedness for
                           borrowed money of SPPC as BB+ or lower, or (2) the
                           commercial paper of the Borrower or SPPC below A-2;

                           then,

                  the Borrower shall issue or cause to be issued, not later than
                  5 Business Days after the date on which the Triggering Event
                  first occurs, for the ratable benefit of the Lenders, General
                  and Refunding Mortgage Bonds (as defined in the General and
                  Refunding Mortgage Indenture), to the full extent permitted
                  under applicable orders of the Public Utilities Commission of
                  Nevada and the General and Refunding Mortgage Indenture, in an
                  aggregate principal amount not to exceed the amount of
                  principal of the Loans then outstanding, with interest and
                  other terms and conditions substantially similar to the Loans,
                  and the Borrower shall perform or cause to be performed all
                  acts, and execute or cause to be executed all resolutions,
                  orders, instruments, certificates, agreements and other
                  documents, required under the General and Refunding Mortgage
                  Indenture (including the documents referred to in Section
                  6.09(c)) to give effect to the foregoing within such
                  5-Business Day period.

                           (c) On or before September 30, 2001, the Borrower
                  shall deliver or cause to be delivered to the Administrative
                  Agent substantially final versions of the following documents
                  (all as defined in the General and Refunding Mortgage
                  Indenture) which, upon execution, delivery and filing, shall
                  be sufficient for the

                                      -5-

<PAGE>

                  issuance of the General and Refunding Mortgage Bonds required
                  by Section 6.09(b): a Supplemental Indenture, an Officer's
                  Certificate setting forth the terms of the General and
                  Refunding Mortgage Bonds, a Company Order requesting
                  authentication of the General and Refunding Mortgage Bonds by
                  the trustee under the General and Refunding Mortgage
                  Indenture, a form of the General and Refunding Mortgage Bonds
                  to be issued and forms of all legal opinions required to issue
                  the General and Refunding Mortgage Bonds under the General and
                  Refunding Mortgage Indenture. The forms of such documents,
                  prior to their delivery to the Administrative Agent, shall
                  have been approved by the trustee under the General and
                  Refunding Mortgage Indenture and its counsel, but shall not be
                  executed and delivered unless and until execution and delivery
                  is required by Section 6.09(b)."

                  (g) Schedule I to the Credit Agreement shall be amended by
         deleting it in its entirety and replacing it with the following:

                                  "COMMITMENTS

                [See definitions of "Commitment" in Section 1.01]

         LENDER                                              COMMITMENT AMOUNT

         Mellon Bank, N.A.                                      $15,937,500

         Wells Fargo Bank, N.A.                                 $16,875,000

         First Union National Bank                              $12,187,500

         Bank One                                               $11,250,000

         BNP Paribas                                            $11,250,000

         Credit Suisse First Boston                             $11,250,000

         The Bank of New York                                   $11,250,000

         Union Bank of California, N.A.                         $11,250,000

         Bayerische Landesbank Girozentrale                      $9,375,000

         The Industrial Bank of Japan                            $9,375,000

             Total                                             $120,000,000"

         4. Representations and Warranties. The Company makes, as of the
Effective Date, each of the representations and warranties set forth in Article
V of the Credit Agreement and such representations and warranties are, by this
reference, incorporated herein as if set forth herein in their entirety;
provided that references to "Loan Documents" shall, for purposes of this
paragraph, be deemed to include this Agreement.

                                      -6-
<PAGE>

         5.       Miscellaneous.

         (a) Except as expressly modified by this Agreement, the Credit
Agreement shall continue to be and remain in full force and effect in accordance
with its terms. Any future reference to the Credit Agreement shall, from and
after the Effective Time, be deemed to be a reference to the Credit Agreement as
amended by Section 3 of this Agreement.

         (b) This Agreement may be executed in any number of counterparts, each
of which shall constitute an original, but all of which when taken together
shall constitute but one instrument.

         (c) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK WITHOUT REFERENCE TO CONFLICTS OF LAW RULES.

         (d) This Agreement may be executed by facsimile signature and each such
signature shall be treated in all respects as having the same effect as an
original signature.

         (e) The rules of construction set forth in Section 1.03 of the Credit
Agreement are, by this reference, incorporated herein as if set forth in their
entirety, provided that references to "this Agreement" in such section shall
mean references to this Agreement.

                                     * * *

                                      -7-
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the date first above written.

                                       NEVADA POWER COMPANY

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

                               -Signature Page-
                              Amendment Agreement

<PAGE>

                                       MELLON BANK, N.A., as Administrative
                                          Agent and as a Lender

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

                               -Signature Page-
                              Amendment Agreement

<PAGE>

                                       WELLS FARGO BANK, N.A., as Syndication
                                          Agent and as a Lender

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

                               -Signature Page-
                              Amendment Agreement

<PAGE>

                                       FIRST UNION NATIONAL BANK, as Syndication
                                          Agent and as a Lender

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

                               -Signature Page-
                              Amendment Agreement

<PAGE>

                                       BANK ONE, N.A. (Main Office-Chicago)

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

                               -Signature Page-
                              Amendment Agreement

<PAGE>

                                       BNP PARIBAS

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

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

                               -Signature Page-
                              Amendment Agreement

<PAGE>

                                       CREDIT SUISSE FIRST BOSTON

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

                               -Signature Page-
                              Amendment Agreement

<PAGE>

                                       THE BANK OF NEW YORK

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

                               -Signature Page-
                              Amendment Agreement

<PAGE>

                                       UNION BANK OF CALIFORNIA, N.A.

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

                               -Signature Page-
                              Amendment Agreement

<PAGE>

                                       BAYERISCHE LANDESBANK GIROZENTRALE

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

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

                               -Signature Page-
                              Amendment Agreement

<PAGE>

                                       THE INDUSTRIAL BANK OF JAPAN, LTD.

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

                               -Signature Page-
                              Amendment Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}]]