Document:

Second Amendment to Dynegy Inc. Severance Pay Plan

 Exhibit 10.19 
 SECOND AMENDMENT TO 
 DYNEGY INC. 
 SEVERANCE PAY PLAN 
 WHEREAS, Dynegy Inc., an Illinois corporation
(“Dynegy Illinois”) and certain subsidiaries and affiliated entities have heretofore established and maintained the Dynegy Inc. Severance Pay Plan (the “Plan”); 
 WHEREAS, Dynegy Illinois has heretofore amended and restated the Plan, effective February 1, 2005, and has subsequently amended such amended
and restated Plan, on behalf of itself and all of its subsidiaries and affiliated entities that participate in the Plan; 
 WHEREAS,
Dynegy Illinois has entered into that certain Plan of Merger, Contribution and Sale Agreement by and among Dynegy Illinois, LSP GEN Investors, L.P., LS Power Partners, L.P., LS Power Equity Partners PIE I, L.P., LS Power Equity Partners, L.P., LS
Power Associates, L.P., Falcon Merger Sub Co., and Dynegy Acquisition, Inc., executed September 14, 2006 (the “Merger Agreement”); 
 WHEREAS, pursuant to the transactions contemplated in the Merger Agreement, Dynegy Illinois will become a wholly-owned subsidiary of a newly-formed Delaware corporation, named “Dynegy Inc.” (“Dynegy Inc.”), and
Dynegy Illinois will thereafter be renamed “Dynegy Illinois Inc.”, as of the Effective Time specified in the Merger Agreement (the “Effective Time”); 
 WHEREAS, in connection with the completion of such transactions, the Board of Directors of Dynegy Illinois and Dynegy Inc. have approved the adoption, assumption and sponsorship of the Plan by Dynegy Inc.;

 WHEREAS, immediately after the Effective Time, Dynegy Illinois will withdraw as the sponsor of the Plan and Dynegy Inc. will assume
sponsorship of the Plan; 
 WHEREAS, Article VII of the Plan provides that Dynegy Illinois may amend the Plan at any time; 

NOW THEREFORE, the Plan is hereby amended as follows: 
 1. Section I of the Plan is hereby amended by replacing the first paragraph thereof with the following three paragraphs, effective immediately after the Effective Time: 
 “Dynegy Inc., an Illinois corporation (‘Dynegy Illinois’), and its participating subsidiaries and affiliated entities
originally established the Dynegy Inc. Severance Pay Plan effective as of September 1, 1998, to provide severance benefits for certain Eligible Employees whose employment is terminated involuntarily by the Company under certain conditions.
Dynegy Illinois amended such plan in certain respects and restated it in the form of 

 
the Dynegy Inc. Severance Pay Plan (defined more completely below as the ‘Plan’), as amended and restated effective February 1, 2005 (the
‘Effective Date’); provided, however, that such amendment and restatement of the Plan is not intended to amend or otherwise modify any Supplemental Plan specifically referring to the Plan that is effective as of the Effective Date and any
such Supplemental Plan shall remain effective in accordance with its terms on and after the Effective Date. 
 Dynegy Illinois
has entered into that certain Plan of Merger, Contribution and Sale Agreement by and among Dynegy Illinois, LSP GEN Investors, L.P., LS Power Partners, L.P., LS Power Equity Partners PIE I, L.P., LS Power Equity Partners, L.P., LS Power
Associates, L.P., Falcon Merger Sub Co., and Dynegy Acquisition, Inc., executed September 14, 2006 (the ‘Merger Agreement’). Pursuant to the transactions contemplated in the Merger Agreement, Dynegy Illinois became a wholly-owned
subsidiary of a newly-formed Delaware corporation, named ‘Dynegy Inc.’ (‘Dynegy Inc.’), and Dynegy Illinois was thereafter renamed ‘Dynegy Illinois Inc.’, as of the Effective Time specified in the Merger Agreement (the
‘Effective Time’). 
 Effective immediately after the Effective Time, Dynegy Illinois withdrew as the Sponsor of the
Plan and Dynegy Inc. adopted and assumed the sponsorship of the Plan. All references in the Plan to ‘Dynegy Inc.’ shall mean Dynegy Inc., a Delaware corporation, as defined in Section XII. The term ‘Company,’ as more
completely defined in Section XII, shall include Dynegy Inc., and each of its subsidiaries and affiliated entities that participate in the Plan. The participating subsidiaries and affiliated entities are listed on Attachment A.” 
 2. The last sentence of Section VII of the Plan is hereby amended in its entirety to provide as follows, effective immediately after the Effective Time:

 “Any Plan amendment must be signed by the Executive Vice President, Administration of Dynegy Inc., or the individual
who, at the time in question, is the highest ranking officer over administration in Dynegy Inc., to be effective.” 
 3. Section XI of
the Plan hereby amended in its entirety to provide as follows, effective immediately after the Effective Time: 
 “The
Plan is a welfare benefit plan providing benefits from the general assets of the Company. Dynegy Inc. is the Plan Sponsor. The Plan Year is from January 1 to the following 

  

 2 

 
December 31 each year. The Plan Sponsor has assigned plan number 504 to the Plan. The Employer identification number for Dynegy Inc. is 20-5653152.

  

	 	A.	Plan Sponsor 

 Dynegy Inc. 
 1000 Louisiana Street, Suite 5800 
 Houston,
Texas 77002 
 (713) 507-6400 
  

	 	B.	Plan Administrator 

 Dynegy Inc. Benefit
Plans Committee 
 c/o Executive Vice President, Administration 
 Dynegy Inc. 
 1000 Louisiana Street, Suite 5800 
 Houston, Texas 77002 
 (713) 507-6400

  

	 	C.	Agent for Legal Service of Process 

 Dynegy
Inc. Benefit Plans Committee 
 c/o Executive Vice President, Administration 
 Dynegy Inc, 
 1000 Louisiana Street, Suite
5800 
 Houston, Texas 77002.” 
 4. Except as modified herein, the Plan shall remain in full force and effect. This Second Amendment may be executed in multiple counterparts, each of which shall be deemed an original and all of which together shall constitute one and
the same instrument. 
 [Remainder of page intentionally left blank] 
  

 3 

 IN WITNESS WHEREOF, the undersigned has caused this Amendment to the Plan to be executed on the date
indicated below, to be effective immediately after the Effective Time. 
  

			
	 DYNEGY ILLINOIS INC.
 (formerly
known as Dynegy Inc.),
 an Illinois corporation

		
	By:	 	/s/ J. Kevin Blodgett
		
	Title:	 	Executive Vice President, Administration
		
	Date:	 	April 2, 2007

  

			
	Approved and accepted:
	
	 DYNEGY INC.,
 a Delaware
corporation

		
	By:	 	/s/ J. Kevin Blodgett
		
	Title:	 	Executive Vice President, Administration
		
	Date:	 	April 2, 2007

  

 4Second Amendment to the Dynegy Northeast Generation Savings Incentive Plan

 Exhibit 10.20 
 SECOND AMENDMENT TO THE  
 DYNEGY NORTHEAST GENERATION, INC. SAVINGS INCENTIVE PLAN

 WHEREAS, Dynegy Inc. (the “Company”), has established and maintains the Dynegy Northeast Generation, Inc. Savings Incentive
Plan (the “Plan”) for the benefit of eligible employees of certain participating companies; and 
 WHEREAS, the Company desires to
amend the Plan; 
 NOW, THEREFORE, BE IT RESOLVED that the Plan shall be, and hereby is amended as follows, effective as provided below:

 I. 
 Effective as of
January 1, 2006, Section 3.3(b) of the Plan is amended in its entirety to provide as follows; 
 “(b) With
respect to each payroll period, the Employer shall contribute to the Trust, as Employer Matching Contributions, an amount that equals 34% of the Before-Tax Contributions that were made pursuant to Section 3.1 on behalf of each of the
Participants whose terms and conditions of employment are governed by a collective bargaining agreement during such payroll period and that were not in excess of 6% of each such Participant’s Compensation for such payroll period.”

 II. 
 Except as
modified herein, the Plan shall remain in full force and effect. 

 IN WITNESS WHEREOF, the undersigned has caused this Amendment to the Plan to be executed this 5 day of
December 2005, effective as hereinbefore provided. 
  

			
	DYNEGY INC.
		
	By:	 	/s/ J. Kevin Blodgett
		 	J. Kevin Blodgett
	Title:	 	General Counsel and EVP, Administration

  

 -2-Third Amendment to the Dynegy Northeast Generation Savings Incentive Plan

 Exhibit 10.21 
 THIRD AMENDMENT TO THE  
 DYNEGY NORTHEAST GENERATION, INC. SAVINGS INCENTIVE PLAN

 WHEREAS, Dynegy Inc. (the “Company”) has established and maintains the Dynegy Northeast Generation, Inc. Savings
Incentive Plan (the “Plan”) for the benefit of eligible employees of certain participating companies, and 
 WHEREAS, the
Company desires to amend the Plan, 
 NOW, THEREFORE, BE IT RESOLVED that the Plan shall be, and hereby is amended as follows,
effective as of January 1, 2006: 
 1. Section 1.1(12) of the Plan is hereby amended in its entirety to provide as follows:

 “(12) Company Stock Fund: An Investment Fund established to invest in Company Stock and such reserves of
cash or cash equivalents as are necessary to meet the liquidity needs of the fund.” 
 2. Section 1.1 of the Plan is hereby amended
by inserting a new subsection (31) to read as follows and renumbering the current subsection (31) and subsequent subsections accordingly: 
 “(31) Independent Fiduciary: The person or entity acting with respect to the Company Stock Fund, as provided in Section 15.5.” 
 3. Subsection 5.1(a) of the Plan is hereby amended in its entirety to read as follows: 
 “(a) Each Participant shall designate, in accordance with the procedures established from time to time by the Committee, the manner
in which the amounts allocated to each of his Accounts shall be invested from among the Investment Funds made available from time to time by the Committee, except that, subject to Section 15.5, there shall be a Company Stock Fund and the
Committee may not eliminate such fund. With respect to the portion of a Participant’s Accounts that is subject to investment discretion, such Participant may designate one of such Investment Funds for all the amounts allocated to such portion
of his Accounts (except to the extent otherwise provided by the Committee) or he may split the investment of the amounts allocated to such portion of his Accounts between such Investment Funds in such increments as the 

 
Committee may prescribe. Except as otherwise provided in Section 15.5, if a Participant fails to make a designation, then such portions of his Accounts
shall be invested in the Investment Fund or Funds designated by the Committee from time to time in a uniform and nondiscriminatory manner.” 
 4. Paragraph (k) of Section 13.6 is hereby deleted in its entirety and the lettering of the subsequent Paragraphs revised accordingly. 
 5. The reference to “Section 15.5” in Section 13.6, Paragraph (k) (formerly Paragraph (1)) is hereby changed to “Section 15.4”. 
 6. Section 15.3 of the Plan is hereby deleted in its entirety and the following Sections renumbered accordingly. 
 7. The Plan is hereby amended by adding a new Section 15.5 to the end of Article XV to read as follows: 
 “15.5 Independent Fiduciary. The Committee may, at its sole discretion, appoint an Independent Fiduciary, who must be an
investment manager as defined in Section 15.4(a), with the sole and exclusive authority and responsibility on behalf of the Plan to exercise all authority to: 
 (a) determine whether acquiring or holding Company Stock in the Plan is no longer consistent with the Act, if so, to determine whether to:

 (1) prohibit or limit (for example, as a percentage of a Participant’s Account) further purchases or holdings of
Company Stock or increasing the Company Stock Fund’s holding of cash or cash equivalent investments, and in the event of such prohibition or limitation, to designate, as necessary, an alternative investment fund for the investment of the
proceeds or contributions pending further investment directions from the Participants and beneficiaries; 
 (2) liquidate some
or all of the Plan’s holdings in the Company Stock Fund and determine how such liquidation should be accomplished and in the event of such liquidation, to designate, as necessary, an alternative investment fund for the investment of the
proceeds or contributions pending further investment directions from the Participants and beneficiaries; or 
 (3) terminate
the availability of the Company Stock Fund as an investment option under the Plan on such terms and conditions as the Independent Fiduciary shall deem prudent and in the interests of the Plan, Participants and beneficiaries (and notwithstanding any
Participant or beneficiary investment directions to the contrary), including the 

 
determination of the manner and timing of termination of the Company Stock Fund and orderly liquidation of its assets and designation of an alternative
investment fund for the investment of the proceeds or contributions pending further investment directions from the Participants and beneficiaries; 
 (b) direct the Trustee to execute and deliver to the Independent Fiduciary such forms and other documents as the Independent Fiduciary may determine are advisable to be filed with the Securities and Exchange
Commission or other governmental agency; 
 (c) serve as the fiduciary responsible for ensuring the confidentiality of the
proxy voting process; and 
 (d) Subject to the Committee’s right to reasonable notice and opportunity to review and
comment on any proposed communication to Participants, which comments shall be reflected in such communication except to the extent the Independent Fiduciary reasonably determines such comments to be inconsistent with their duties as detailed
herein, direct the Plan’s record keeper to make such communications to Participants and beneficiaries as the Independent Fiduciary reasonably determines to be necessary in connection with the exercise of its responsibilities with respect to the
Plan. 
 Upon such appointment, the Committee shall not be liable for the acts of the Independent Fiduciary. An Independent Fiduciary may be
removed by the Committee at any time and within its sole discretion.” 
 Except as modified herein, the Plan shall remain in full force
and effect. 
 IN WITNESS WHEREOF, the undersigned has caused this Amendment to the
Plan to be executed this 7 day of June 2006,
effective as hereinbefore provided. 
  

			
	DYNEGY INC.
		
	By:	 	/s/ Julius Cox
	Title:	 	Vice President, HR

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