Document:

Deferred Compensation Plan

 EXHIBIT 10.1 
  
 DYNEGY INC. 
  
 DEFERRED COMPENSATION PLAN FOR CERTAIN DIRECTORS 
  
 WHEREAS, Dynegy Inc. (the “Company”) has heretofore adopted the Dynegy Inc. Deferred Compensation Plan for Certain Directors (the
“Plan”) to aid its non-employee directors in making more adequate provision for their retirement; and 
  
 WHEREAS, Dynegy Inc. desires to restate said plan and to amend said plan in several respects; 
  
 NOW THEREFORE, the Plan is hereby restated in its entirety as follows
with no interruption in time, effective as of January 1, 2003 (the “Effective Date”): 
  
 1.    Participants.    Any director of the Company, other than a director who is also a salaried officer or
employee of the Company or any of its subsidiaries, shall become a participant (“Participant”) under the Plan on the later of (a) the Effective Date or (b) the date he or she becomes such a non-employee director. Notwithstanding the
foregoing, an individual who was a Participant in the Plan on the day prior to the Effective Date shall remain a Participant in the restatement thereof as of the Effective Date. 
  
 2.    Company Deferrals.    On each March 31, June 30, September 30 and
December 31 that occurs after the Effective Date, the Company shall credit to a Company deferral account maintained by the Company on behalf of each Participant (a “Company Deferral Account”) a number of hypothetical shares (including
fractional shares) of Class A common stock, without par value, of the Company (“Common Stock”) equal to (a) $12,500.00 divided by (b) the closing price of a share of Common Stock on the last Trading Day (as hereinafter defined) of the
calendar quarter ending on such March 31, June 30, September 30 or December 31, as applicable; provided, however, that a Participant’s Company Deferral Account shall receive such credit only if such Participant was a director of the Company on
the March 31, June 30, September 30 or December 31 to which such credit relates or his or her service as a director of the Company terminated during the calendar quarter ending on such date by reason of death or disability. Dividends and other
distributions that would be paid with respect to a number of shares of Common Stock equal to the number of hypothetical shares of Common Stock credited to a Participant’s Company Deferral Account as of the date of such dividend or other
distribution shall be credited to the Participant’s Company Deferral Account as of such date and shall be deemed to be invested in hypothetical shares (including fractional shares) of Common Stock based on the closing price of a share of Common
Stock on the date of such dividend or other distribution (or the next preceding Trading Day if such date is not a Trading Day). Amounts credited to a Participant’s Company Deferral Account shall be paid to or on behalf of the Participant as
hereinafter provided. For purposes of the Plan, the term “Trading Day” means a day during which trading in securities generally occurs in the principal securities market in which Common Stock is traded. 

 3.    Director Deferrals. 
  

	(a)	 	Any Participant may elect to defer all or any portion of his or her retainer, fees and other special compensation paid in cash for service as a director (“Compensation”)
which are earned for the ensuing years of service after the date of said election as he or she may specify in a written notice to the Company, and such Compensation so deferred shall be paid only as hereinafter provided. Any Participant may suspend
future deferments with respect to cash Compensation earned for ensuing years of service after the date of suspension as he or she may specify by written notice to the Company. Following any such suspension, a director may make a new election to
again become a Participant. No Participant may make such a change more than once in any twelve-month period or again become a Participant within twelve months after the date of suspension. The election to defer for any year of service shall be
irrevocable and the Compensation for all of such year of service shall be deferred until distribution in accordance with the terms of the Plan. For purposes of the Plan, a year of service shall mean the twelve-month period beginning on July 1 of
each calendar year. 

  

	(b)	 	For each Participant electing to defer Compensation under the Plan in accordance with Section 3(a), the Company shall maintain a deferred money account (a “Deferred Money
Account”). Deferred Compensation of each Participant shall be credited as a dollar amount to the Participant’s Deferred Money Account on the date such Compensation otherwise would be payable in cash to the Participant.

  
 4.    Deemed Investment
of Deferred Money Accounts. 
  

	(a)	 	For the period preceding July 1, 2003, amounts credited to a Participant’s Deferred Money Account shall be deemed to be invested in accordance with the provisions of the Plan
as in effect prior to this restatement thereof. From and after July 1, 2003, amounts credited to a Participant’s Deferred Money Account shall be deemed to be invested in accordance with the following provisions of this Section 4.

  

	(b)	 	Each Participant shall designate, in accordance with the procedures established from time to time by the Company, the manner in which the amounts allocated to his or her Deferred
Money Account shall be deemed to be invested from among the investment funds made available from time to time for such purpose by the Company (the “Funds”); provided, however, that one of the Funds that shall be made available for purposes
of this Section 4 shall be a hypothetical fund maintained by the Plan recordkeeper consisting primarily of Common Stock (the “Dynegy Stock Fund”). Such Participant may designate one of such Funds for the deemed investment of all such
amounts allocated to the Participant’s Deferred Money Account or he or she may split the deemed investment of such amounts allocated to his or her Deferred Money Account among such Funds in such increments as the Company may prescribe. If a
Participant fails to make a proper designation, then his or her Deferred Money Account shall be deemed to be invested in the Fund or Funds designated by the Company from time to time in a uniform and nondiscriminatory manner.

  

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	(c)	 	A Participant may change his or her deemed investment designation for future deferrals to be allocated to the Participant’s Deferred Money Account. Any such change shall be
made in accordance with the procedures established by the Company, and the frequency of such changes may be limited by the Company. 

  

	(d)	 	A Participant may elect to convert his or her deemed investment designation with respect to the amounts already allocated to the Participant’s Deferred Money Account. Any such
conversion shall be made in accordance with the procedures established by the Company, and the frequency of such conversions may be limited by the Company. No election of a conversion designation by a Participant which has the effect of increasing
the total amount allocated to the Dynegy Stock Fund may be made on a date which is less than six months following (i) the date of any prior election of a conversion designation by such Participant which had the effect of decreasing the total amount
allocated to the Dynegy Stock Fund or (ii) the date of any election by such Participant with respect to any other plan of the Company or any subsidiary thereof which had the effect (directly or indirectly) of making a disposition on behalf of such
Participant of Common Stock. No election of a conversion designation by a Participant which has the effect of decreasing the total amount allocated to the Dynegy Stock Fund may be made on a date which is less than six months following (1) the date
of any prior election of a conversion designation by such Participant which had the effect of increasing the total amount allocated to the Dynegy Stock Fund or (2) the date of any election by such Participant with respect to any other plan of the
Company or any subsidiary thereof which had the effect (directly or indirectly) of making an acquisition on behalf of the Participant of Common Stock. The restrictions set forth in the two preceding sentences shall not apply to a Participant at any
time he or she is not subject to Section 16(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). 

  

	(e)	 	The restrictions contained in the Plan regarding investment designations, changes, and/or conversions by Participants who are subject to Section 16(b) of the Exchange Act respecting
the Dynegy Stock Fund are intended to comply with, and enable such Participants to rely upon, the exemption provided by Rule 16b-3 under the Exchange Act. Any future amendment to Rule 16b-3 or any successor rule promulgated by the Securities and
Exchange Commission affecting the investment by such Participants in the Dynegy Stock Fund shall be incorporated by reference herein and be deemed to be an amendment to the Plan in order that such Participants shall continue to be entitled to rely
upon the exemption provided by such rule without any interruption. Notwithstanding the foregoing, the Board of Directors of the Company (the “Board”) may alter the designation, change and/or conversion restrictions applicable to
Participants, as set forth in the Plan, as a result of changes in Rule 16b-3 under the Exchange Act. 

  
 5.    Earnings Allocations and Account Statements.    The balance of each account maintained on behalf of a
Participant shall reflect the result of daily pricing of the assets in which such account is deemed invested from time to time until the time of distribution. Each Participant shall be furnished at least annually with a statement of his accounts,
which statement shall show the balance, if any, credited to each of his or her Deferred Money Account and Company Deferral Account. 
  

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 6.    Distribution. 
  

	(a)	 	If a Participant’s service as a director terminates prior to July 1, 2003, then such Participant’s benefits under the Plan shall be paid in accordance with the provisions
of the Plan as in effect prior to this restatement thereof. Subject to the provisions of Sections 6(c), 7 and 10, if a Participant’s service as a director terminates during the six-month period beginning on July 1, 2003, then the aggregate
amounts credited to his or her Deferred Money Account and Company Deferral Account (determined as provided in Sections 6(d), (e), (f) and (g)) shall be paid to such Participant in such number of annual installments as shall be determined by the
Company in its sole discretion (but not exceeding 10 annual installments). The Company may counsel with a Participant prior to such determination, and each such annual installment shall be made as of January 31, beginning with the January 31
following the termination of the Participant’s service as a director. Except as expressly provided in the preceding provisions of this Section 6(a), the following provisions of this Section 6 shall apply only to a Participant whose service as a
director terminates after December 31, 2003. 

  

	(b)	 	A Participant shall elect, subject to the provisions of Sections 6(c), 7 and 10, the time (which may not be prior to the date on which he or she terminates service as a director)
and the mode (which may either be a lump sum payment or monthly, quarterly, or annual installment payments over a specified term certain) for payment of the aggregate amounts credited to his or her Deferred Money Account and Company Deferral
Account. A Participant may revise his or her election regarding the time and mode of payment of amounts credited to his or her accounts only if, and at such time as, such revised election is approved by a Rule 16b-3 Committee (as hereinafter
defined); provided, however, that such revised election shall not be effective unless the Participant continues service as a director until the later of (i) the January 1 following the date such revised election is approved or (ii) the date that is
six months after the date such revised election is approved. In the absence of direction by a Participant regarding the time or mode of payment of amounts credited to his or her accounts, such amounts shall be distributed in a single lump sum cash
payment as soon as practicable after the date on which he or she terminates service as a director. As used herein, the term “Rule 16b-3 Committee” means a committee appointed by the Board with respect to the Plan that is comprised solely
of “Non-Employee Directors” as described in Rule 16b-3 promulgated by the Securities and Exchange Commission; provided, however, that if the Board does not appoint such a committee, then the full Board shall serve as the Rule 16b-3
Committee. 

  

	(c)	 	If a Participant shall cease to be a director by reason of his or her death or if he or she shall die after he or she shall be entitled to distributions hereunder but prior to
receipt of all distributions hereunder, then the aggregate unpaid balance in such Participant’s Deferred Money Account and Company Deferral Account (computed as of the date of his or her death) shall be distributed in a single lump sum cash
payment to such beneficiary as such Participant shall designate by an instrument in writing filed with the Company, or in the absence of such designation, to his or her personal representative, or if none is appointed within six months of his or her
death to his or her spouse, or if not then living, to his or her then living descendents, per stirpes. 

  

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	(d)	 	Payments under the Plan that are attributable to the balance in a Participant’s Deferred Money Account shall be paid in cash, and the amount of each such payment shall be
computed by dividing the unpaid balance in the Participant’s Deferred Money Account (determined as of the date of such payment unless another determination date is expressly specified in the Plan) by the remaining number of payments to be made
under the Plan to the Participant. 

  

	(e)	 	Subject to the provisions of the Plan that specify that certain payments shall be made in cash, a Participant shall have the right to make a one-time election (at the time and in
accordance with the procedures prescribed by the Company) to receive payments under the Plan that are attributable to the balance in his or her Company Deferral Account in shares of Common Stock or cash; provided, however, that if the Company
determines that shareholder approval of this restatement of the Plan is necessary or desirable under applicable law and/or the rules of any national or regional securities exchange on which the Common Stock has been listed in order to make such
payments under the Plan in shares of Common Stock, then a Participant shall not have the right to make any such election and he or she shall be deemed to have elected to receive such payments in cash if the first such payment that is payable to such
Participant is required to be paid to him or her pursuant to this Section 6 prior to the date upon which such shareholder approval is obtained by the Company. If the Participant elects to receive such payments in shares of Common Stock, then the
number of shares included in each payment shall equal the number of whole shares determined by dividing the total number of hypothetical shares of Common Stock credited to his or her Company Deferral Account as of the date of such payment by the
remaining number of payments to be made under the Plan to the Participant (and the value of any fractional share shall be paid in cash based on the closing price of a share of Common Stock on the Trading Day next preceding the date of payment). If a
payment to a Participant under the Plan that is attributable to the Participant’s Company Deferral Account is to be paid in cash, then the amount of such payment shall be computed by dividing the unpaid value of the Participant’s Company
Deferral Account (determined based on the closing price of a share of Common Stock on the Trading Day next preceding the date of such payment (or on the Trading Day next preceding such other determination date as is expressly specified in the Plan))
by the remaining number of payments to be made under the Plan to the Participant. 

  

	(f)	 	If the Company determines that any distribution (whether in the form of cash, shares, other securities, or other property), recapitalization, stock split, reverse stock split,
reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of shares or other securities of the Company, issuance of warrants or other rights to purchase shares or other securities of the Company, or other
similar corporate transaction or event affects the Common Stock such that an adjustment is determined by the Company to be appropriate in order to prevent dilution or enlargement of the benefits intended to be provided under the Plan, then the
Company shall, in such manner as it may deem equitable, adjust any or all of (i) the number and type of shares of Common Stock (or other securities or property) comprising the Dynegy Stock Fund, (ii) the number and type of hypothetical shares of
Common Stock (or other securities or property) credited to a Participant’s Company Deferral Account, and (iii) the number and type of shares of 

  

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 Common Stock (or other securities or property), if any, to be distributed to a Participant pursuant to
Section 6(e). 
  

	(g)	 	Once an amount has been paid to a Participant or his beneficiary, such amount shall be debited from the Participant’s Deferred Money Account or Company Deferral Account, as
applicable. 

  
 7.    Change
in Control.    Notwithstanding any provision in Section 6 to the contrary, if a Participant’s service as a director of the Company (or any successor) shall terminate after the Effective Date as a result of or in
connection with a Change in Control (as hereinafter defined), then the aggregate unpaid balance in the Participant’s Deferred Money Account and Company Deferral Account (computed as of the later of the date of such Change in Control or the date
such Participant ceases to be a director of the Company (or any successor) (the “Computation Date”)) shall be paid to the Participant in a single lump sum cash payment as soon as administratively feasible, but no later than 30 days, after
the Computation Date in full satisfaction of all of such Participant’s benefits hereunder. For purposes of the Plan, the term “Change in Control” shall mean (i) a merger of the Company with another entity, a consolidation involving
the Company, or the sale of all or substantially all of the assets of the Company to another entity if, in any such case, (A) the holders of equity securities of the Company immediately prior to such transaction or event do not beneficially own
immediately after such transaction or event equity securities of the resulting entity entitled to 60% or more of the votes then eligible to be cast in the election of directors generally (or comparable governing body) of the resulting entity in
substantially the same proportions that they owned the equity securities of the Company immediately prior to such transaction or event or (B) the persons who were members of the Board immediately prior to such transaction or event shall not
constitute at least a majority of the board of directors of the resulting entity immediately after such transaction or event, (ii) the dissolution or liquidation of the Company, (iii) when any person or entity, including a “group” as
contemplated by Section 13(d)(3) of the Exchange Act, acquires or gains ownership or control (including, without limitation, power to vote) of more than 20% (which percentage shall be increased to 40% in the case of ownership or control by
ChevronTexaco Corporation or a “group” of which ChevronTexaco Corporation is a part) of the combined voting power of the outstanding securities of, (A) if the Company has not engaged in a merger or consolidation, the Company, or (B) if the
Company has engaged in a merger or consolidation, the resulting entity, or (iv) as a result of or in connection with a contested election of directors, the persons who were members of the Board immediately before such election shall cease to
constitute a majority of the Board. For purposes of the preceding sentence, (1) “resulting entity” in the context of a transaction or event that is a merger, consolidation or sale of all or substantially all assets shall mean the surviving
entity (or acquiring entity in the case of an asset sale) unless the surviving entity (or acquiring entity in the case of an asset sale) is a subsidiary of another entity and the holders of common stock of the Company receive capital stock of such
other entity in such transaction or event, in which event the resulting entity shall be such other entity, and (2) subsequent to the consummation of a merger or consolidation that does not constitute a Change in Control, the term “Company”
shall refer to the resulting entity and the term “Board” shall refer to the board of directors (or comparable governing body) of the resulting entity. 
  

8.    Participant’s Rights Unsecured.    The right of any Participant to receive a distribution
hereunder shall be an unsecured claim against the general assets of the Company. 
  

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 The deferred Compensation and benefits hereunder may not be encumbered or assigned by the Participant. The Company may,
but shall not be obligated, to acquire shares of its outstanding Common Stock or other investment assets from time to time in anticipation of its obligation to make distributions under the Plan, but no Participant shall have any rights in or against
any shares of Common Stock or other investment assets so acquired or in any cash held in his or her Company Deferral Account and Deferred Money Account. All such Common Stock, other investment assets and cash shall constitute general assets of the
Company and may be disposed of by the Company at such time and for such purposes as it may deem appropriate. 
  
 9.    Amendments to the Plan.    The Board may amend the Plan at any time, without the consent of the
Participants or other beneficiaries; provided, however, that no amendment shall divest any Participant or beneficiary of rights to which he or she would have been entitled if the Plan had been terminated on the effective date of such amendment.

  
 10.    Termination of the
Plan.    The Board may terminate the Plan at any time. Upon termination of the Plan, distributions in respect of credits to a Participant’s account as of the date of the termination shall be made in the manner and at the
time heretofore prescribed; provided, however, that, in connection with such termination, the Board may, in its sole discretion, provide that the unpaid balance in the accounts of each Participant as of the date of such termination shall be paid in
a single lump sum cash payment as soon as administratively feasible after the date of such termination in full satisfaction of all of such Participant’s benefits hereunder. 
  
 11.    Expenses.    Costs of administration of the Plan will be paid by the
Company. 
  
 IN WITNESS WHEREOF, the undersigned has caused
these presents to be executed this          day of June, 2003. 
  

	DYNEGY INC.
		
	 By:
	 	 
	 	

	 	 	 Name:                                     
                                        
     
 Title:                                     
                                        
        

  
  

 7Third Amendment to the Loan Agreement

 Exhibit 10.3 
  
 EXECUTION COPY 
  
 THIRD AMENDMENT TO THE LOAN DOCUMENTS 
  
 This THIRD AMENDMENT dated as of July 15, 2003 (this “Amendment”), to the Credit Agreement dated as of April 1, 2003, as amended
by the First Amendment to the Credit Agreement dated as of May 15, 2003 and the Second Amendment to the Credit Agreement dated as of June 27, 2003, (such Credit Agreement, as so amended, being the “Credit Agreement”), among
Dynegy Holdings Inc., as the borrower (the “Borrower”), Dynegy Inc., as the parent guarantor (the “Parent Guarantor”), Citibank, N.A. and Bank of America, N.A., as administrative agents (the
“Administrative Agents”) for the Lenders, Bank One, NA (Main Office Chicago), as Collateral Agent for the Lenders, and the various banks, financial institutions and other lenders parties thereto. Capitalized terms used
without definition in this Amendment shall have the meanings set forth in the Credit Agreement. 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Borrower has requested, and the Lenders are willing to grant such request, that the Lenders agree to provide certain amendments with respect to the Credit Agreement and Shared Security Agreement as hereinafter set forth;

  
 NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, and subject to the terms and conditions hereof, the parties hereto agree as follows: 
  
 SECTION 1.    Amendments.  Subject to the occurrence of the Effective Date, the Credit Agreement and Shared Security
Agreement are amended as follows: 
  
 (a)    The definition of “Change of Control” contained in Section 1.01 of the Credit Agreement is hereby amended by deleting clause (b) therein and replacing such clause with the following new clause (b):

  
 “(b) individuals who are Continuing
Directors of the Parent Guarantor shall not constitute a majority of the board of directors of the Parent Guarantor; or”; 
  
 (b)    The definition of “Consolidated Secured Indebtedness” contained in Section 1.01 of the Credit
Agreement is hereby amended by (i) re-lettering clauses “(e)”, “(f)” and “(g)” thereof to read “(d)”, “(e)” and “(f)”, respectively, (ii) deleting the words “clauses (a) through
(e)” in line 15 thereof and substituting therefor the words “clauses (a) through (d)” and (iii) deleting the words “clauses (a) through (f)” in line 17 thereof and substituting therefor the words “clauses (a) through
(e)”; 

 (c)    The definition of “Continuing Directors” contained
in Section 1.01 of the Credit Agreement is hereby amended by adding at the end thereof the phrase “or with the approval of Chevron USA”; 
  
 (d)    The definition of “Equity Interests” contained in Section 1.01 of the Credit Agreement is hereby
amended by adding at the end thereof the following: 
  
 “;
provided that none of (i) the 2003 Convertible Securities, (ii) any Indebtedness issued in accordance with the provisions of Section 7.03(b)(xvi) and (iii) any profit sharing or other employee benefit arrangements shall be “Equity
Interests” for purposes of this Agreement and the other Loan Documents. 
  
 (e)    The definition of “Extraordinary Receipts” contained in Section 1.01 of the Credit Agreement is hereby amended by deleting the figure of “$2,500,000” therein and
replacing such figure with “$10,000,000”; 
  
 (f)    The definition of “Liquidity” contained in Section 1.01 of the Credit Agreement is hereby amended by inserting after the words “other than the Liens created under the Collateral Documents” in
line 3 thereof the following new phrase: “or permitted to be incurred pursuant to Section 7.01(v) or (w)”; 
  
 (g)    The definition of “Net Cash Proceeds” contained in Section 1.01 of the Credit Agreement is hereby
amended by (i) deleting the phrase “prior to the Maturity Date in respect of the Term B Facility” in line 18 of clause (a) thereof and substituting therefor the phrase “prior to the latest Maturity Date in respect of the Facilities
outstanding from time to time”, (ii) adding the following proviso at the end of clause (a) thereof: 
  
 “; provided, further, that at any time that the 2003 Junior Unsecured Subordinated Notes are outstanding and require a
prepayment from a Disposition permitted pursuant to Section 7.05(h) (other than a Disposition of Term B Collateral), the “Net Cash Proceeds” from such Disposition shall equal the lesser of (1) the Required Revolving Commitment
Reduction Amount at such time and (2) the aggregate amount required to be prepaid under the terms of the 2003 Junior Unsecured Subordinated Notes from such Disposition; provided, further, that at any time that (A) the 2003 Junior
Unsecured Subordinated Notes are outstanding, (B) there are no Term B Loans outstanding and (C) the 2003 Junior Unsecured Subordinated Notes require a prepayment from a Disposition of Term B Collateral or any Disposition of any Subsidiary of
Illinova or any such Subsidiary’s assets, the “Net Cash Proceeds” from such Disposition shall equal the lesser of (1) the Required Revolving Commitment Reduction Amount at such time and (2) 25% of the Net Cash Proceeds from such
Disposition (as such Net Cash Proceeds are calculated pursuant to the terms of the 2003 Junior Unsecured Subordinated Notes)”; 
  
 and (iii) adding the following provisos at the end of clause (c) thereof: 
  

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 “; provided,further, that up to $250 million of proceeds received from
the sale of any capital stock or other Equity Interest by the Parent Guarantor or any of its Subsidiaries after the Third Amendment Effective Date shall not be “Net Cash Proceeds” for all purposes of this Agreement; provided,
further, that, in addition to the amounts excluded pursuant to the previous proviso, at any time that the 2003 Junior Unsecured Subordinated Notes are outstanding and until paid in full and either (i) require a prepayment from a sale of
capital stock or other Equity Interest or (ii) the Parent Guarantor elects to prepay the 2003 Junior Unsecured Subordinated Notes from the proceeds received from a sale of capital stock or other Equity Interests, the “Net Cash Proceeds”
from such sale shall equal the lesser of (1) the Required Revolving Commitment Reduction Amount at such time and (2) the aggregate amount required to be prepaid under the terms of the 2003 Junior Unsecured Subordinated Notes from such sale;”

  
 (h)    The definition of
“Payment Basket” contained in Section 1.01 of the Credit Agreement is hereby amended by inserting the following proviso at the end thereof: 
  
 “; provided, that, the aggregate amount of any cash payments made by the Parent Guarantor in connection with the CVX Restructuring Transaction
shall not be included in the calculation of the “Payment Basket” herein.”; 
  
 (i)    Section 1.01 of the Credit Agreement is hereby amended by adding the following new definitions in proper
alphabetical order: 
  
 ““2003 Convertible
Preferred Stock” means the convertible preferred stock issued by the Parent Guarantor to Chevron USA on terms and conditions reasonably satisfactory to the Administrative Agents. 
  
 “2003 Convertible Securities” means the first
tranche of convertible debt securities issued by the Parent Guarantor and guaranteed by the Borrower on or after the Third Amendment Effective Date in accordance with the provisions of Section 7.03(b)(xiii). 
  
 “2003 Junior Unsecured Subordinated Notes” means the
junior unsecured subordinated notes issued by the Parent Guarantor to Chevron USA in accordance with the provisions of Section 7.03(b)(xiv). 
  
 “2003 Proceeds” means the sum of the gross proceeds from the issuance of the 2003 Second Lien Notes plus the gross proceeds
from the issuance of the 2003 Convertible Securities. 
  
 “2003 Refinancing Transactions” means (i) the tender offer by the Borrower for the Early Maturity DHI Bonds on terms and conditions reasonably satisfactory to the Administrative Agents, (ii) the issuance of the 2003
Second Lien Notes and the 2003 Convertible Securities, (iii) the repayment or refinancing in full of the Term A Loans, the Indebtedness under the Black Thunder Facility and the tendered Early Maturity DHI Bonds, (iv) subject to the provisions of
this 

  

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Agreement, the voluntary prepayment, in full or in part, of the Term B Loans and the CoGen Facility and (v) subject to the provisions of this Agreement, the
CVX Restructuring Transaction. 
  
 “2003 Second Lien
Notes”means the first tranche of senior secured notes issued by the Borrower and guaranteed by the Subsidiary Guarantors on or after the Third Amendment Effective Date, in accordance with the provisions of Section
7.03(b)(xii). 
  
 “2003 Tender Offer”
means the tender offer by the Borrower to purchase all of the outstanding 8.125% Senior Notes due 2005, 6-3/4% Senior Notes due 2005 and 7.450% Senior Notes due 2006 pursuant to the Offer to Purchase and Consent Solicitation Statement, dated July
14, 2003, as may be amended from time to time on terms reasonably satisfactory to the Administrative Agents. 
  
 “Chevron USA” means Chevron U.S.A., Inc., a Pennsylvania corporation. 
  
 “CVX Restructuring Transaction” means so long as the
2003 Proceeds are at least $1.5 billion, the exchange by Chevron USA of all of the Chevron Preferred Stock for (x) a cash payment to Chevron USA of $225,000,000 in accordance with the provisions of Section 7.06(c), (y) the issuance of the
2003 Junior Unsecured Subordinated Notes in accordance with the provisions of Section 7.03(b)(xiv) and (z) the issuance of the 2003 Convertible Preferred Stock. 
  
 “Excess 2003 Proceeds Amount” means: 
  
 (i)    if the 2003 Proceeds are less than $1.5 billion, the excess, if any, of $1.2 billion over the sum
(such sum being the “Level I Amount”) of the aggregate principal amount of the Term A Loans repaid on the Third Amendment Effective Date, plus the aggregate principal amount of the Indebtedness under the Black Thunder
Facility repaid within one Business Day following the Third Amendment Effective Date plus the aggregate principal amount of the tendered Early Maturity DHI Bonds repurchased on the Third Amendment Effective Date plus the underwriting
discounts and commissions, and other out-of-pocket costs, fees, commissions, premiums and expenses, incurred by the Parent Guarantor or the Borrower in connection with the 2003 Refinancing Transactions; 
  
 (ii)    if the 2003 Proceeds are greater than or equal
to $1.5 billion but less than or equal to $1.86 billion, the excess, if any, of the 2003 Proceeds over the sum (such sum being the “Level II Amount”) of the Level I Amount plus the aggregate principal amount of the Term B
Loans repaid on the Third Amendment Effective Date plus $225 million; 
  
 (iii)    if the 2003 Proceeds are greater than $1.86 billion but equal to or less than $2.1 billion, the excess, if any, of $1.86 billion over the Level II Amount; and 
  

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 (iv)    if the 2003 Proceeds are greater than $2.1 billion, the excess, if any, of
$2.1 billion over the sum of the Level II Amount plus the aggregate principal amount of the CoGen Facility repaid on the Third Amendment Effective Date. 
  

“Junior Indebtedness” means any Subordinated Indebtedness, any Indebtedness incurred in accordance with the provisions of
Section 7.03(b)(xv) and any Indebtedness incurred in accordance with the provisions of Section 7.03(b)(xvi). 
  
 “Required 2003 Applications” means: 
  
 (i)    if the 2003 Proceeds are less than or equal to $1.5 billion, the repayment in full of the Term A Loans, the Indebtedness under
the Black Thunder Facility and the tendered Early Maturity DHI Bonds (such applications being the “Level I Applications”); 
  
 (ii)    if the 2003 Proceeds are greater than $1.5 billion but less than $1.86 billion, the Level I Applications and the repayment of
the Term B Loans in an aggregate amount equal to the excess of the 2003 Proceeds over $1.5 billion (such applications being the “Level II Applications”); 
  
 (iii)    if the 2003 Proceeds are equal to or greater than $1.86 billion but less than $2.1 billion, the
Level II Applications and, so long as the Parent Guarantor and Chevron USA have agreed to the CVX Restructuring Transaction, the cash payment of up to $225 million to be made to Chevron USA in connection with the CVX Restructuring (such applications
being the “Level III Applications”); and 
  
 (iv)    if the 2003 Proceeds are equal to or greater than $2.1 billion, the Level III Applications, the repayment in full of the CoGen Facility and the ratable reduction of the Revolving Credit Commitments in an amount
equal to 50% of the excess of the 2003 Proceeds over $2.1 billion. 
  
 “Required Revolving Commitment Reduction Amount” means at any time the excess, if any, of (1) the sum (not to exceed $1.1 billion) of the Revolving Credit Facility at such time plus the aggregate amount of any
mandatory reductions of the Revolving Credit Facility made prior to such time (other than any such reduction made as a result of payments in respect of the 2003 Junior Unsecured Subordinated Notes) over (2) $1 billion. 
  
 “Third Amendment Effective Date”means the
first date on which all of the conditions precedent to the effectiveness of the Third Amendment to the Loan Documents, dated as of July 15, 2003, were satisfied.” 
  
 (j)    Section 1.01 of the Credit Agreement is hereby amended by deleting the following
definitions therein and all references to such definitions in the Credit Agreement shall be of no force or effect; “Reallocated Availability Period”, “Reallocated Facility”, “Reallocated Facility Borrowing”,
“Reallocated Facility Commitment”, “Reallocated Facility Lender”, “Reallocated Facility Loan”, “Reallocated Facility Note”, “Reallocated L/C Advance”, “Reallocated L/C Borrowing”,
“Reallocated L/C Credit 

  

 5 

 
Extension”, “Reallocated L/C Obligations”, “Reallocated L/C Sublimit”, “Reallocated Letter of Credit”, “Reallocation
Amount”, and “Reallocation Event”, “Reallocation Reduction Amount”; 
  
 (k)    Section 2.01(d) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
“[Intentionally Omitted]”; 
  
 (l)    Section 2.04 of the Credit Agreement is hereby amended and restated in its entirety and replaced with the following (and all references to Section 2.04 shall be of no force or effect): “[Intentionally
Omitted]”; 
  
 (m)    Section 2.05(a) of the Credit Agreement is hereby amended by adding at the end of the sixth sentence of such Section the following proviso: 
  
 “; provided that solely in connection with the 2003 Refinancing Transactions (including from any
proceeds thereof applied after the Third Amendment Effective Date), prepayments of the outstanding Loans may be applied to one Facility without ratably prepaying the other Facilities”; 
  
 (n)    Section 2.05(b)(iv) of the Credit
Agreement is hereby amended by deleting the term “Subordinated Indebtedness” therein and replacing such term with the phrase “Junior Indebtedness (other than the 2003 Second Lien Notes, and the 2003 Convertible Securities)”;

  
 (o)    Section
2.05(b)(ix) of the Credit Agreement is hereby amended by adding at the end of the first sentence thereof the following proviso: 
  
 “; provided, further, that notwithstanding the foregoing, at any time that the sum of the Revolving L/C Borrowings
outstanding at such time plus the Revolving Credit Loans outstanding at such time plus the Revolving L/C Obligations are less than the Revolving Credit Facility (after taking into account the Revolving Reduction Amount), the Borrower
may reduce the Revolving Credit Facility without prepaying the Revolving L/C Borrowings and the Revolving Credit Loans or Cash Collateralizing the Revolving L/C Obligations.” 
  
 (p)    Section 2.05(b)(x) of the Credit Agreement is hereby amended and restated in its
entirety and replaced with the following (and all references to Section 2.05(b)(x) shall be of no force or effect): “[Intentionally Omitted]”; 
  
 (q)    Section 7.01 of the Credit Agreement is hereby amended by (i) inserting the following words at the end of
clause (d) thereof, “in accordance with GAAP”, (ii) deleting the word “and” at the end of clause (t) thereof, (iii) deleting the period at the end of clause (u) thereof and substituting therefor a semicolon and (iv) adding the
following new clauses (v) and (w) at the end of such Section: 
  
 “(v) Liens on all or a portion of the Collateral to secure the obligations of the Loan Parties in respect of the 2003 Second Lien Notes so long as (1) the terms and conditions of such Liens (including, without limitation, the second
priority 

  

 6 

 
nature of such Liens) are reasonably satisfactory to the Administrative Agents and (2) such Liens are junior and subordinate to the Liens created under the
Loan Documents; and 
  
 (w) Liens on all or a portion of the
Collateral securing Indebtedness permitted to be incurred pursuant to the provisions of Section 7.03(b)(xv) the terms and conditions of which are no less favorable to the Lenders than the terms and conditions of the Liens permitted pursuant
to clause (v) above or are otherwise on terms and conditions reasonably acceptable to the Administrative Agents.”; 
  
 (r)    Section 7.02(c) is amended by (i) replacing the word “and” at the end of clause (v) thereof with a
comma and (ii) adding at the end thereof the following clause (vii): 
  
 “and (vii) Investments in CoGen Lyondell, Inc. or DGPI Inc. consisting of loans or advances in the ordinary course of business consistent with past practices relating to CoGen Lyondell, Inc. and DGPI Inc.”; 
  
 (s)    Section 7.03(b)(i) of the Credit
Agreement is hereby amended and restated in its entirety to read as follows: 
  
 “Indebtedness under the Loan Documents or any refinancings, refundings, renewals or extensions of the Term A Facility, the Term B Facility, the Revolving Credit Facility, or the Revolving Letter of Credit
Sublimit on the Third Amendment Effective Date solely in connection with the 2003 Refinancing Transactions;” 
  
 (t)    Clause (B) of the second proviso of Section 7.03(b)(ii) of the Credit Agreement is hereby amended and restated
in its entirety to read as follows: 
  
 “(B) any Payment
Restriction more restrictive than the Payment Restrictions contained in the Indebtedness being refinanced, refunded, renewed or extended, except that the condition contained in this subclause (B) shall not apply to refinancings of the Black Thunder
Facility or the Early Maturity DHI Bonds with respect to the 2003 Proceeds,” 
  
 (u)    Section 7.03(b)(vii) of the Credit Agreement is hereby amended and restated in its entirety to read as follows,
“[Intentionally Omitted]”; 
  
 (v)    Section 7.03(b) is hereby amended by (1) deleting the word “and” at the end of clause (x) thereof, (2) deleting the period at the end of clause (xi) thereof and substituting therefor a semicolon and (3)
adding at the end thereof new clauses (xii), (xiii), (xiv), (xv), (xvi) and (xvii) to read as follows: 
  
 “(xii)    Indebtedness in respect of the 2003 Second Lien Notes issued by the Borrower and guaranteed by the Subsidiary
Guarantors so long as (A) the Net Cash Proceeds from the incurrence of such Indebtedness (together with cash on hand and the Net Cash Proceeds from the incurrence of the 2003 Convertible 
  

 7 

 
Securities) are used for the Required 2003 Applications and (B) to the extent that there are Excess 2003 Proceeds Amounts, such Excess 2003 Proceeds Amounts
are either (1) applied to prepay, purchase, redeem, defease or otherwise retire in whole or in part the Early Maturity DHI Bonds not tendered in the 2003 Tender Offer, the Alpha Facility, the CoGen Facility or the Riverside Facility or to
voluntarily prepay the Term B Loans (whether through open market repurchases, redemptions, prepayments or otherwise) or permanently reduce the Revolving Credit Commitments (in which case the Borrower may retain a portion of the Excess 2003 Proceeds
Amounts equal to such reduction) or (2) deposited into and held either in a Deposit Account or a Securities Account (as each term is defined in the Security Agreement) until such time as such Excess 2003 Proceeds Amounts are used to prepay,
purchase, redeem, defease or otherwise retire any Early Maturity DHI Bonds not tendered in the 2003 Tender Offer, the Alpha Facility, the CoGen Facility or the Riverside Facility or to voluntarily prepay the Term B Loans (whether through open market
repurchases, redemptions, prepayments or otherwise) or permanently reduce the Revolving Credit Commitments (in which case the Borrower may retain a portion of the Excess 2003 Proceeds Amounts equal to such reduction), (C) the final maturity of such
Indebtedness shall not be earlier than July 31, 2010, (D) the terms and conditions (other than in respect of interest rate) of such Indebtedness (including with respect to the second lien nature of the Lien on the Collateral securing such
Indebtedness) are reasonably satisfactory to the Administrative Agents and (E) the interest rate in respect of such Indebtedness is not in excess of the then applicable market interest rate. 
  
 (xiii)    Indebtedness of the Parent
Guarantor and the Borrower in respect of the 2003 Convertible Securities so long as (A) the Net Cash Proceeds from the incurrence of such Indebtedness (together with cash on hand and the Net Cash Proceeds from the incurrence of the 2003 Second Lien
Notes) are used for the Required 2003 Applications, (B) to the extent that there are Excess 2003 Proceeds Amounts, such Excess 2003 Proceeds Amounts are either (1) applied to prepay, purchase, redeem, defease or otherwise retire in whole or in part
the Early Maturity DHI Bonds not tendered in the 2003 Tender Offer, the Alpha Facility, the CoGen Facility or the Riverside Facility or to voluntarily prepay the Term B Loans (whether through open market repurchases, redemptions, prepayments or
otherwise) or permanently reduce the Revolving Credit Commitments (in which case the Borrower may retain a portion of the Excess 2003 Proceeds Amounts equal to such reduction) or (2) deposited into and held either in a Deposit Account or a
Securities Account (as each term is defined in the Security Agreement) until such time as such Excess 2003 Proceeds Amounts are used to prepay, purchase, redeem, defease or otherwise retire any Early Maturity DHI Bonds not tendered in the 2003
Tender Offer, the Alpha Facility, the CoGen Facility or the Riverside Facility or to voluntarily prepay the Term B Loans (whether through open market repurchases, redemptions, prepayments or otherwise) or permanently reduce the Revolving Credit
Commitments (in which case the Borrower may retain a portion of the Excess 2003 Proceeds Amounts equal to such reduction), (C) the final maturity of such Indebtedness shall not be earlier than July 31, 2023, (D) the 

  

 8 

 
terms and conditions of such Indebtedness (other than in respect of interest rate) are reasonably satisfactory to the Administrative Agents and (E) the
interest rate in respect of such Indebtedness is not in excess of the then applicable market interest rate. 
  
 (xiv)    Indebtedness of the Parent Guarantor in respect of the 2003 Junior Unsecured Subordinated Notes in an aggregate original
principal amount not to exceed $225 million so long as (x) the final maturity of such Indebtedness shall not be earlier than January 1, 2016, (y) the terms and conditions of such Indebtedness are reasonably satisfactory to the Administrative Agents
and (z) such Indebtedness is issued to Chevron USA in connection with the CVX Restructuring Transaction; 
  
 (xv)    additional Indebtedness issued by the Borrower and guaranteed by the Subsidiary Guarantors so long as (v) 50% of the Net Cash
Proceeds of such Indebtedness is applied as required by the provisions of Section 2.05(b)(iv), (w) such Indebtedness is secured on a second priority basis by a Lien on the Collateral, (x) the final maturity of such Indebtedness shall not be
earlier than July 31, 2010, (y) the terms and conditions of such Indebtedness (other than in respect of interest rate and final maturity but including the second lien nature of the Lien on the Collateral securing such Indebtedness) are no less
favorable to the Lenders than the terms and conditions of the 2003 Second Lien Notes or otherwise reasonably satisfactory to the Administrative Agents and (z) the interest rate in respect of such Indebtedness is not in excess of the then applicable
market interest rate; 
  
 (xvi)    additional
Indebtedness issued by the Parent Guarantor and guaranteed by the Borrower so long as (w) 50% of the Net Cash Proceeds of such Indebtedness is applied as required by the provisions of Section 2.05(b)(iv), (x) the final maturity of such
Indebtedness shall not be earlier than July 31, 2023, (y) the terms and conditions of such Indebtedness (other than in respect of interest rate and final maturity) are no less favorable to the Lenders than the terms and conditions of the 2003
Convertible Securities or otherwise reasonably satisfactory to the Administrative Agents and (z) the interest rate in respect of such Indebtedness is not in excess of the then applicable market interest rate; and 
  
 (xvii)    Indebtedness owed to CoGen Lyondell, Inc. or
DGPI Inc. so long as such Indebtedness is incurred in the ordinary course of business consistent with past practices relating to CoGen Lyondell, Inc. and DGPI Inc.”; 
  
 (w)    Section 7.05(g) of the Credit Agreement is hereby amended by adding at the end
thereof the following proviso: 
  
 “; provided,
further, that the amount of net cash proceeds retained by the Parent Guarantor and its Subsidiaries from a Disposition permitted pursuant to the terms of Section 7.05(h) as a result of the second and third provisos in clause (a) of the

  

 9 

 
definition of “Net Cash Proceeds” shall be included in the calculation of Net Cash Proceeds for purposes of clause (ii) above”; 
  
 (x)    Section 7.06 of the Credit
Agreement is hereby amended by (i) deleting the phrase “prior to the Maturity Date in respect of the Term B Facility” in line 4 thereof and substituting therefor the phrase “prior to the latest Maturity Date in respect of the
Facilities outstanding from time to time” and (ii) by restating clause (c) thereof in its entirety to read as follows: 
  
 “(c) (i) so long as (A) no Default shall have occurred and be continuing or would result therefrom, (B) the aggregate amount of cash collateral
required to be pledged to Chevron USA on the Third Amendment Effective Date shall be reduced to the amount necessary to secure projected obligations for not more than one month and (C) the 2003 Proceeds are at least $1.5 billion, the Parent
Guarantor may consummate the CVX Restructuring Transaction and make a cash payment to Chevron USA of no more than $225 million in connection with the CVX Restructuring Transaction, (ii) if the CVX Restructuring Transaction does not occur as part of
the 2003 Refinancing Transactions, so long as no Default shall have occurred and be continuing or would result therefrom, the Parent Guarantor may purchase, redeem or otherwise acquire, or make any payment in respect of the Chevron Preferred Stock
in an aggregate amount equal to the lesser of the Payment Basket at such time and $50 million so long as (A) the Borrower makes a voluntary prepayment of the Facilities pursuant to Section 2.05(a) in an aggregate amount equal to three times
the aggregate cash payment made pursuant to this clause (c), (B) the Liquidity of the Parent Group (x) for the ten day period immediately preceding any such payment and (y) at the time of such payment (after giving effect to such payment) is
at least $500 million and (C) any amendment, modification or change to any term or condition of the Chevron Preferred Stock made in connection with such payment, purchase or redemption is on terms reasonably acceptable to the Required Lenders and
the Collateral Agent and (iii) so long as no Default shall have occurred and be continuing or would result therefrom, from time to time, the Parent Guarantor may pay cash dividends in respect of the 2003 Convertible Preferred Stock in an aggregate
amount equal to the Payment Basket at such time so long as (A) the Borrower makes a voluntary prepayment of the Facilities (or, in the case of the Revolving Credit Facility, a permanent reduction of such Facility) pursuant to Section 2.05(a)
in an aggregate amount equal to (x) in respect of any payments made pursuant to this Section 7.06(c) that constitute the first $100 million of the Payment Basket used in accordance with the terms of this Agreement, the amount of such cash
dividends, (y) in respect of any payments made pursuant to this Section 7.06(c) that constitute any portion of the second $100 million of the Payment Basket used in accordance with the terms of this Agreement, two times the amount of such
cash dividends and (z) in respect of any payments made pursuant to this Section 7.06(c) that constitute the final $100 million of the Payment Basket used in accordance with the terms of this Agreement, three times the amount of such cash
dividends and (B) the Liquidity of the Parent Group at the time of such payment (after giving effect to such payment) is at least $500 million”; 
  

 10 

 (y)    Section 7.08 of the Credit Agreement is hereby amended by
inserting the following sentence at the end thereof: 
  
 “Notwithstanding anything in this Section 7.08 to the contrary, the CVX Restructuring Transaction shall not be prohibited by the terms of this Section 7.08”; 
  
 (z)    Section 7.09 of the Credit
Agreement is hereby amended by inserting the following after the words “any other Loan Document” in line 3 thereof, “, any agreement or instrument governing the terms of the 2003 Second Lien Notes, the 2003 Convertible Securities, and
any Indebtedness permitted to be incurred pursuant to Section 7.03(b)(xv) or (xvi)”; 
  
 (aa)    Section 7.11(a) of the Credit Agreement is hereby amended by deleting the ratios set forth therein and
replacing such ratios with such ratios as the Administrative Agents and the Parent Guarantor shall reasonably determine to be the equivalent of the deleted ratios taking into account solely the changes in Consolidated Secured Indebtedness to occur
in connection with the Third Amendment Effective Date and utilizing the same projections and methodologies used in determining such deleted ratios and giving effect to any “cushion” included in the determination of such deleted ratios.

  
 (bb)    Section 7.15 of
the Credit Agreement is hereby amended by (i) adding at the end of clause (ii) thereof the following phrase: 
  
 “other than, at any time that the Term B Loans are outstanding, any mandatory prepayment under the 2003 Junior Unsecured Subordinated Notes arising
from a Disposition of Term B Collateral (so long as, in the case of any prepayment of the 2003 Junior Unsecured Subordinated Notes, the Facilities have been prepaid (or, in the case of the Revolving Credit Facility, a permanent reduction of such
Facility) to the extent required by Section 2.05(b)); 
  
 (ii) adding immediately after the phrase “any Indebtedness under the Indentures” in clause (iii) thereof the following parenthetical “(other than the Early Maturity DHI Bonds)”, (iii) amending clause (iv) thereof in its
entirety to read as follows: 
  
 “(iv) the
repurchase (or the making of any payment in respect of an exchange offer for such Indebtedness) of any Indebtedness under the Indentures (other than the Early Maturity DHI Bonds) in an aggregate amount equal to the Payment Basket at such time so
long as (A) the Liquidity of the Parent Group (1) for the ten day period immediately preceding such repurchase or payment and (2) at the time of such repurchase (after giving effect to such repurchase or payment) is at least $500 million, (B) the
aggregate amount applied in respect of the Late Maturity DHI Bonds is not more than $100 million and (C) the Borrower prepays the Facilities pursuant to Section 2.05(a) at the time of such repurchase in an amount equal to (1) in respect of
any payments pursuant to this clause (iv) that constitute any portion of the first $100 million of the Payment Basket used in accordance with the terms of this Agreement, the aggregate amount paid in 

  

 11 

 
connection with such repurchase (or, if more than $50 million of such repurchases are in respect of the Late Maturity DHI Bonds, the sum of (x) the aggregate
amount paid in connection with such repurchase (other than in respect of the Late Maturity DHI Bonds) plus (y) the aggregate amount up to $50 million paid in connection with such repurchase in respect of the Late Maturity DHI Bonds
plus (z) two times the aggregate amount paid in excess of $50 million in respect of the Late Maturity DHI Bonds), (2) in respect of any payments pursuant to this clause (iv) that constitute any portion of the second $100 million of the
Payment Basket used in accordance with the terms of this Agreement, two times the aggregate amount paid in connection with such repurchases and (3) in respect of any payments pursuant to this clause (iv) that constitute any portion of the third $100
million of the Payment Basket, three times the aggregate amount paid in connection with such repurchase,” 
  
 (iv) (A) deleting the word “or” immediately after the semi-colon following the words “in respect of such prepayment” at the end of
clause (vii) and substituting therefor a new clause heading (viii) and (B) replacing clause heading (viii) with a new clause heading (ix), and (v) adding the following clause (x) immediately after clause (ix): 
  
 “and (x) the prepayment, redemption or repurchase of the Early Maturity
DHI Bonds, the CoGen Facility, the Riverside Facility or the Alpha Facility either (A) with the 2003 Proceeds as required or permitted pursuant to Section 7.03(b)(xii) and (xiii) or (B) with the Net Cash Proceeds from Extraordinary Receipts
or the issuance of Junior Indebtedness or Equity Issuances, in each case that are not required to prepay any other Indebtedness pursuant to the terms of any of the Loan Documents and that are not used pursuant to clause (iii) above, or with cash on
hand so long as, in the case of any prepayment of the Riverside Facility or the Alpha Facility (other than pursuant to clause (A) above), the Liquidity of the Parent Group (x) for the ten day period immediately preceding such prepayment and (y) at
the time of such prepayment (after giving effect to such repayment) is at least $500 million”; 
  
 (cc)    Section 7.17(a) of the Credit Agreement is hereby amended by inserting at the end of the first sentence
thereof a new clause (iv) to read as follows: 
  
 “or (iv)
any Swap Contracts entered into to hedge against fluctuations in interest rates or currency incurred in the ordinary course of business and consistent with prudent business practice”; 
  
 (dd)    Section 7.17(b) of the Credit
Agreement is hereby amended and restated in its entirety and replaced with the following: 
  
 “(b) Other than as set forth in Section 7.17(a) above, the Parent Guarantor and its Subsidiaries shall not enter into any Swap Contracts.”; 
  
 (ee)    Section 7.20 of the Credit
Agreement is hereby amended and restated in its entirety and replaced with the following, “[Intentionally Omitted]”; 
  

 12 

 (ff)     Section 7.21 of the Credit Agreement is hereby amended by
inserting the following sentence at the end thereof: 
  
 “Notwithstanding anything in this Section 7.21 to the contrary, the CVX Restructuring Transaction shall not be prohibited pursuant to the terms of this Section 7.21.”; 
  
 (gg)    Section 9.01 of the Credit
Agreement is hereby amended by adding to the end thereof a new subsection (d) to read as follows: 
  
 “(d) Each of the Lenders hereby irrevocably authorizes the Agents to enter into intercreditor arrangements on behalf of such Lender in respect of the
2003 Second Lien Notes and such other Indebtedness issued in accordance with the provisions of Section 7.03(b)(xv).”; 
  
 (hh)    Section 10.04 of the Credit Agreement is hereby amended by (i) deleting the phrase “the Maturity Date in
respect of the Term B Facility” in clause (b) of the second sentence thereof and substituting therefor the phrase “the latest Maturity Date in respect of the Facilities outstanding from time to time” and (ii) deleting the phrase
“the Maturity Date in respect of the Term B Facility” in clause (iii) of the third sentence thereof and substituting therefor the phrase “the latest Maturity Date in respect of the Facilities outstanding from time to time”;

  
 (ii)    Section 10.07 of
the Credit Agreement is hereby amended by deleting the phrase “the Maturity Date in respect of the Term B Facility” in clause (a)(ii) thereof and substituting therefor the phrase “the latest Maturity Date in respect of the Facilities
outstanding from time to time”; 
  
 (jj)    Schedules 5.08(d), 5.08(e), 5.13(e) and 11.02 to the Credit Agreement are hereby amended and restated in their entirety and replaced as set forth on Schedule 1 hereto; and 
  
 (kk)    Schedules I – VI to the
Shared Security Agreement are hereby amended and restated in their entirety and replaced as set forth on Schedule 2 hereto. 
  
 SECTION 2.    Conditions to Effectiveness.  This Amendment (other than the provisions of Section 1) shall become
effective as of the first date on which the Administrative Agents shall have received counterparts of this Amendment duly executed by each of the Loan Parties and the Supermajority Lenders. The provisions of Section 1 of this Amendment shall become
effective on the first date (the “Effective Date”) on which, on or prior to September 15, 2003, and only if, the Administrative Agents have received confirmation of each of the following, each in form and substance
satisfactory to the Administrative Agents: 
  
 (a)    Execution of Counterparts.  The Administrative Agents shall have received counterparts of this Amendment duly executed by each of the Loan Parties and the Supermajority Lenders. 
  

 13 

 (b)    Payment of Fees and Expenses.  Upon the
occurrence of the Effective Date, the Borrower shall pay to the Payment Agent, for the benefit of the applicable Lenders, a fee equal to 0.20% of (i) the aggregate amount of the Revolving Credit Commitment of each Lender as of the date hereof and
(ii) the aggregate outstanding principal amount of Term B Loans owed to each Lender as of the date hereof (in each case, after giving pro forma effect to the 2003 Refinancing Transactions) that has executed and delivered this Amendment on or
before July 24, 2003. In addition, the Administrative Agents shall have determined that all agency, custodial, filing service, collateral trustee, legal and other fees and disbursements incurred in connection with this Amendment and invoiced through
the day immediately prior to the Effective Date, including all fees of the Administrative Agents and its counsel, shall have been paid in full by the Borrower. 
  

(c)    No Default.  No event shall have occurred and be continuing that constitutes a Default.

  
 (d)    Refinancing.  Not less than $1,200,000,000 of 2003 Proceeds shall have been received by the Borrower and the Parent Guarantor in the aggregate from the issuance of 2003 Second Lien Notes and 2003
Convertible Securities by the Borrower and the Parent Guarantor, respectively, on terms (other than in respect of interest rate) reasonably satisfactory to the Administrative Agents and with an interest rate not exceeding market terms at such time.

  
 (e)    Certificate.  A certificate from the secretary or assistant secretary of the Borrower and each Guarantor dated the Effective Date and certifying (i) that attached thereto is a true and complete
copy of resolutions duly adopted by the Board of Directors of the Borrower or such Guarantor, as the case may be, authorizing the execution, delivery and performance of this Amendment and the matters contemplated hereby, and that such resolutions
have not been modified, rescinded or amended and are in full force and effect and (ii) all documents evidencing other necessary corporate action and governmental approvals, if any, with respect to this Amendment and the matters contemplated hereby.

  
 (f)    Opinions.  Favorable written opinions of O’Melveny & Myers LLP, counsel for the Borrower, the General Counsel or Assistant General Counsel of the Borrower, in each case, dated the
Effective Date and addressed to the Administrative Agents and the Lenders as to such matters as the Administrative Agents may reasonably request, and such other opinions reasonably requested by the Administrative Agents. 
  
 SECTION 3.    Confirmation of Representations and
Warranties and Certain Acknowledgements and Agreements.  The Borrower hereby represents and warrants, on and as of the Effective Date, that the representations and warranties contained in the Credit Agreement are correct and true in
all material respects on and as of the date hereof, before and after giving effect to this Amendment, as though made on and as of the date hereof, other than any such representations or warranties that, by their terms, refer to a specific date. The
Borrower agrees that all provisions of Section 11.05 of the Credit Agreement are in full force and effect and cover the entering into of this Amendment and the transactions contemplated hereby. 
  

 14 

 SECTION 4.    Execution in Counterparts.  This Amendment may be
executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement.
Delivery of an executed counterpart of a signature page to this Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment. 
  
 SECTION 5.    Governing Law.  This Amendment shall be governed by, and construed in
accordance with, the laws of the State of New York, and shall be subject to the jurisdictional and service provisions of the Credit Agreement, as if this were a part of the Credit Agreement. 
  
 SECTION 6.    Entire Agreement;
Modification.  This Amendment constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, there being no other agreements or understandings, oral, written or otherwise, respecting such subject
matter, any such agreement or understanding being superseded hereby, shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, and may not be amended, extended or otherwise modified, except in
a writing executed in whole or in counterparts by each party hereto. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above written. 
  

 15 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment to be effective as provided herein.

  

	DYNEGY HOLDINGS INC., as Borrower
		
	 By:
	 	 /s/    Robert T. Ray

	 Name:
  
 Title:
	 	 Robert T. Ray

 Sr. Vice President-Treasurer

  
  
  
  

	 DYNEGY POWER CORP.
 DPC II INC.
 DYNEGY ENGINEERING, INC.
 DYNEGY SERVICES, INC.
 DYNEGY POWER MANAGEMENT
 SERVICES, L.P.,

		
	     By:
	 	 Dynegy Services, Inc., its general partner

	 	 	 

  
  
  

	 CALCASIEU POWER, INC.
 DYNEGY OPERATING COMPANY
 DYNEGY PARTS AND TECHNICAL SERVICES, INC.
 DYNEGY POWER MANAGEMENT SERVICES,
INC.
 HEP COGEN, INC.
 NORTHWAY COGEN, INC.
 DYNEGY POWER INVESTMENTS, INC.
 DYNEGY POWER SERVICES, INC.
 DYNEGY POWER NEVADA, INC.
 MICHIGAN COGEN, INC.
 MICHIGAN POWER, INC.
 MICHIGAN POWER HOLDINGS, INC.
 OCG COGEN, INC.
 OYSTER CREEK COGEN, INC.
 PORT ARTHUR COGEN, INC.
 RRP COMPANY
 DPC COLOMBIA—OPON POWER RESOURCES COMPANY
 TERMO SANTANDER HOLDING,
LLC
 RIVERSIDE GENERATION, INC.
 RIVERSIDE GENERATING COMPANY, L.L.C.
 ROLLING HILLS GENERATION, INC.
 DYNEGY RENAISSANCE POWER, INC.
 DYNEGY NORTHEAST GENERATION, INC.
 HUDSON POWER, L.L.C.
 DYNEGY MIDSTREAM GP, INC.
 DYNEGY MIDSTREAM SERVICES, LIMITED
PARTNERSHIP

		
	 By:
	 	 Dynegy Midstream G.P., Inc., its general partner

	 	 	 

  

	 
		
	 By:
	 	 /s/    Robert T. Ray

	 	 	 Robert T. Ray
 Sr. Vice President-Treasurer

  
  
  
  
  

	 DYNEGY LIQUIDS MARKETING AND TRADE
 DYNEGY OPI, LLC
 DYNEGY NGL PIPELINE COMPANY, LLC
 DYNEGY INTRASTATE PIPELINE, LLC
 DYNEGY ENERGY PIPELINE COMPANY LLC
 DYNEGY UPPER HOLDINGS, L.L.C.
 DYNEGY HOLDING COMPANY, L.L.C.
 DMG ENTERPRISES, INC.
 HAVANA DOCK ENTERPRISES, LLC
 DMT HOLDINGS, INC.
 DMT G.P., L.L.C.
 DMT HOLDINGS, L.P.
 DYNEGY MARKETING AND TRADE
 DYNEGY COAL TRADING & TRANSPORTATION, L.L.C.
 NGC STORAGE, INC.
 BLACK THUNDER MEMBER, INC.
 PARISH POWER, INC.
 CALCASIEU POWER, LLC
 DELTA COGEN, INC.
 DYNEGY POWER HOLDINGS, INC.
 COGEN POWER, INC.
 COGEN POWER, L.P.

		
	     By:
	 	 CoGen Power, Inc., its general partner

	 	 	 

  

	 DYNEGY LIQUIDS G.P., L.L.C.

		
	     By:
	 	 Dynegy Midstream Services,
 Limited Partnership, its sole member

		
	     By:
	 	 Dynegy Midstream G.P., Inc.
 its general partner

  
  
  

	 DYNEGY INC.

		
	 By:
	 	 /s/ Robert T. Ray

	 	 	 Robert T. Ray
 Sr. Vice President-Treasurer

  
  
  
  
  
  
  

	 MIDSTREAM BARGE COMPANY, L.L.C.
 DYNEGY REGULATED HOLDINGS, LLC

		
	 By:
	 	 /s/ Robert T. Ray

	 	 	 Robert T. Ray
 Vice President-Treasurer

  
  
  
  
  
  

	 BG HOLDINGS, INC.
 BLACK MOUNTAIN COGEN, INC.
 BLUEGRASS GENERATION, INC.
 BLUEGRASS GENERATION COMPANY, L.L.C.
 DYNEGY CABRILLO II LLC
 BLUE RIDGE GENERATION INC.
 BLUE RIDGE GENERATION LLC
 CHICKAHOMINY GENERATING COMPANY
 CHICKAHOMINY POWER, LLC
 FLORIDA MERCANTILE POWER, INC.
 PALMETTO POWER, L.L.C.
 GASIFICATION SERVICES, INC.
 GEORGIA MERCANTILE POWER, INC.
 HEARD COUNTY POWER, L.L.C.
 HART COUNTY IPP, INC.
 HARTWELL INDEPENDENT POWER PARTNERS, INC.
 HARTWELL POWER COMPANY
 DYNEGY DANSKAMMER, L.L.C.
 DYNEGY ROSETON, L.L.C.
 DYNEGY HUDSON POWER RETAIL, L.L.C.
 DYNEGY GLOBAL ENERGY, INC.
 DYNEGY BROADBAND MARKETING AND TRADE
 DYNEGY GP INC.
 DYNEGY TECHNOLOGY CAPITAL CORP.
 DYNEGY STRATEGIC INVESTMENTS, L.P.

		
	     By:
	 	 Dynegy Strategic Investments GP, L.L.C.,
 its general partner

	 	 	 

  
  

	 DYNEGY STRATEGIC INVESTMENTS GP, L.L.C.
 RENAISSANCE POWER, L.L.C.
 ROLLING HILLS GENERATING, L.L.C.
 DYNEGY POWER MARKETING, INC.

		
	 By:
	 	 /s/ Charles C. Cook

	 	 	 Charles C. Cook
 Vice President

  
  
  
  
  

	 DYNEGY ENERGY SERVICES, INC.
 ILLINOIS POWER ENERGY, INC.
 DES NORTHEAST, INC.
 DEM GP, LLC
 DYNEGY ENERGY MARKETING, LP

		
	     By:
	 	 DEM GP, LLC, its general partner

	 	 	 

  

	 DYNEGY ADMINISTRATIVE SERVICES COMPANY
 NIPC, INC.
 DFS L.P., LLC
 DFS GENERAL PARTNER, LLC
 DYNEGY FINANCIAL SERVICES, LIMITED PARTNERSHIP
 DYNEGY CATLIN MEMBER, INC.
 DYNEGY MIDWEST GENERATION, INC.
 DYNEGY I.T., INC.
 CHESAPEAKE POWER, INC.
 JAMES RIVER ENERGY CORP.
 DPC POWER RESOURCES HOLDING COMPANY
 DRY CREEK POWER, INC.
 ROCKINGHAM POWER, L.L.C.
 DYNEGY POWER DEVELOPMENT COMPANY

		
	 By:
	 	 /s/ Charles C. Cook

	 	 	 Charles C. Cook
 Vice President

  
  
  
  
  

	 DYNEGY MANAGEMENT, INC.
 DMS LP, INC.
 DMT L.P., L.L.C.
 DYNEGY STRATEGIC INVESTMENTS LP, INC.
 DEM LP, LLC

		
	 By:
	 	 /s/ Larry F. Altenbaumer

	 	 	 Larry F. Altenbaumer
 President

  
  
  
  

	CITIBANK, N.A., as Administrative Agent,
Payment Agent and Lender
		
	 By:
	 	 /s/ Susan McManigal

	 Name
	 	 Susan McManigal

	 Title:
	 	 Senior Vice President

	BANK OF AMERICA, N.A., as Administrative
Agent and Lender
		
	 By:
	 	 /s/ Clara Yang Strand

	 Name:
	 	 Clara Yang Strand

	 Title:
	 	 Managing Director

	 BANK ONE, NA

		
	 By:
	 	 /s/ Richard P. Broussard

	 Name:
	 	 Richard P. Broussard

	 Title:
	 	 First Vice President

	 JPMORGAN CHASE BANK

		
	 By:
	 	 /s/ Robert W. Traband

	 Name:
	 	 Robert W. Traband

	 Title:
	 	 Vice President

	 THE TORONTO-DOMINION BANK

		
	 By:
	 	 /s/ Jill Hall

	 Name:
	 	 Jill Hall

	 Title:
	 	 Mngr. Credit Admin.

	 ABN AMRO BANK N.V.

		
	 By:
	 	 /s/ John D. Reed, CFA

	 Name:
	 	 John D. Reed, CFA

	 Title:
	 	 Vice President

		
	 By:
	 	 /s/ Quandra L. Kelley

	 Name:
	 	 Quandra L. Kelley

	 Title:
	 	 Assistant Vice President

	 Credit Lyonnais New York Branch

		
	 By:
	 	 /s/ Olivier Audemand

	 Name:
	 	 Olivier Audemand

	 Title:
	 	 Senior Vice President

	CREDIT SUISSE FIRST BOSTON, Cayman Island Branch
		
	 By:
	 	 /s/ David L. Sawyer

	Name:	 	 David L. Sawyer

	 Title:
	 	 Director

		
	 By:
	 	 /s/ Sharon M. Meadows

	Name:	 	 Sharon M. Meadows

	 Title:
	 	 Managing Director

	 LEHMAN COMMERCIAL PAPER INC.

		
	 By:
	 	 /s/ Jane E. Gillard

	 Name:
	 	 Jane E. Gillard

	 Title:
	 	 Authorized Signatory

	 ROYAL BANK OF CANADA

		
	 By:
	 	 /s/ David A. McCluskey

	 Name:
	 	 David A. McCluskey

	 Title:
	 	 Manager

	 SOCIETE GENERALE

		
	 By:
	 	 /s/ Beth Hunter

	 Name:
	 	  

	 Title:
	 	  

	WESTLB AG, New York Branch
		
	 By:
	 	 /s/ Duncan Robertson

	 Name:
	 	  
 Duncan Robertson

	 Title:
	 	 Executive Director

  

		
	 By:
	 	 /s/ Salvatore Battinelli

	 Name:
	 	  
 Salvatore Battinelli

	 Title:
	 	 Managing Director, Credit Department

	DEUTSCHE BANK AG
		
	 By:
	 	 /s/ Michael E. Keating

	 Name:
	 	 Michael E. Keating

	 Title:
	 	 Managing Director

  

		
	 By:
	 	 /s/ Joel Makowsky

	 Name:
	 	 Joel Makowsky

	 Title:
	 	 Director

  

  

	MERRILL LYNCH CAPITAL CORP.
		
	 By:
	 	 /s/ Carol J.E. Feeley

	 Name:
	 	 Carol J.E. Feeley

	 Title:
	 	 Vice President

	THE BANK OF NOVA SCOTIA
		
	 By:
	 	 /s/ Lee Origoni

	 Name:
	 	 Lee Origoni

	 Title:
	 	 Assistant General Manager

	CREDIT AGRICOLE INDOSUEZ
		
	 By:
	 	 /s/ Kathleen M. Sweeney

	 Name:
	 	 Kathleen M. Sweeney

	 Title:
	 	 Vice President

  

		
	 By:
	 	 /s/ John McCloskey

	 Name:
	 	 John McCloskey

	 Title:
	 	 First Vice President

  
  

	FLEET NATIONAL BANK
		
	 By:
	 	 /s/ Peggy Peckam

	 Name:
	 	 Peggy Peckam

	 Title:
	 	 Senior Workout Officer

	FLEET CAPITAL CORPORATION
		
	 By:
	 	 /s/ Terrence W. Allen

	 Name:
	 	 Terrence W. Allen

	 Title:
	 	 Vice President

	GOLDMAN SACHS CREDIT PARTNERS, L.P.
		
	 By:
	 	 /s/ John Makrinos

	 Name:
	 	 John Makrinos

	 Title:
	 	 Authorized Signatory

	MIZUHO CORPORATE BANK, LTD.
		
	 By:
	 	 /s/ Noel Purcell

	 Name
	 	 Noel Purcell

	 Title:
	 	 Senior Vice President

  

	COMMERZBANK AG, NEW YORK AND GRAND CAYMAN BRANCHES
		
	 By:
	 	 /s/ David A. Bennett

	 Name:
	 	 David A. Bennett

	 Title:
	 	 Assistant Vice President

  

		
	 By:
	 	 /s/ Birgit Pacek

	 Name:
	 	 Birgit Pacek

	 Title:
	 	 Assistant Cashier

  
  
  

	BEAR STEARNS & CO., INC.
		
	 By:
	 	 /s/ Keith C. Barnish         

	 Name:
	 	 Keith C. Barnish

	 Title:
	 	 Senior Managing Director

	MERRILL LYNCH, PIERCE, FENNER & SMITH
		
	 By:
	 	 /s/ Graham Goldsmith         

	 Name:
	 	 Graham Goldsmith

	 Title:
	 	 Managing Director

	CITIGROUP FINANCIAL PRODUCTS INC.
		
	 By:
	 	 /s/ Shawn Bernet         

	 Name:
	 	 Shawn Bernet

	 Title:
	 	 Assistant Vice President

	 OPPENHEIMER SENIOR
 FLOATING RATE FUND

		
	 By:
	 	 /s/ Lisa Chaffee         

	 Name:
	 	 Lisa Chaffee

	 Title:
	 	 Manager

	SEMINOLE FUNDING LLC
		
	 By:
	 	 /s/ Ann E. Morris         

	 Name:
	 	 Ann E. Morris

	 Title:
	 	 Asst. Vice President

	TRS THEBE LLC
		
	 By:
	 	 /s/ Deborah O’Keeffe         

	 Name:
	 	 Deborah O’Keeffe

	 Title:
	 	 Vice President

	UBS AG, STAMFORD BRANCH
		
	 By:
	 	 /s/ Anthony N. Joseph         

	 Name:
	 	 Anthony N. Joseph

	 Title:
	 	 Associate Director

		
	 By:
	 	 /s/ Janice L. Randolph

	 Name:
	 	 Janice L. Randolph

	 Title:
	 	 Associate Director

	 BEAR STEARNS INVESTMENT
 PRODUCTS INC.

		
	 By:
	 	 /s/ Keith C. Barnish         

	 Name:
	 	 Keith C. Barnish

	 Title:
	 	 Executive Vice President

	CENTURION CDO II, LTD.
		
	 By:
	 	 /s/  Leanne Stavrakis       

	Name:	 	 Leanne Stavrakis

	Title:	 	 Director – Operations

	CENTURION CDO III, LTD
		
	 By:
	 	 /s/  Leanne Stavrakis       

	Name:	 	 Leanne Stavrakis

	Title:	 	 Director – Operations

	CENTURION CDO VI, LTD
		
	 By:
	 	 /s/  Leanne Stavrakis       

	Name:	 	 Leanne Stavrakis

	Title:	 	 Director – Operations

	HBK MASTER FUND L.P.
		
	 By:
	 	  

	Name:	 	  

	Title:	 	  

	LAGUNA FUNDING LLC
		
	 By:
	 	 /s/ Ann E. Morris        

	Name:	 	 Ann E. Morris

	Title:	 	 Asst. Vice President

	SEQUILS-CENTURION V, LTD.
		
	 By:
	 	 /s/ Leanne Stavrakis         

	Name:	 	 Leanne Stavrakis

	 Title:
	 	 Director – Operations

	 SPECIAL SITUATIONS
 INVESTING GROUP, INC.

		
	 By:
	 	 /s/ ROBERT S.
PANELLI        

	Name:	 	 Robert S. Panelli

	Title:	 	 Authorized Signatory

 Acknowledged on the date hereof by: 
  
  
 WILMINGTON TRUST COMPANY, 
 not in its individual capacity, 
 but solely as corporate trustee 

 
  

		
	 By:
	 	 /s/ Sandra R. Ortiz        

	 	 	Name: Sandra R. Ortiz
	 	 	Title: Financial Services Officer

  
  
 JOHN M. BEESON, JR., 
 not in his individual capacity, 
 but solely as individual trustee 
  
  

	
	 /s/ John M. Beeson, Jr.

  
 LENDER CONSENT

  
 This LENDER CONSENT dated as of August 1 , 2003 (this
“Consent”), to the Third Amendment to the Loan Documents dated as of July 15, 2003 (such third amendment, as so amended, being the “Third Amendment”), among Dynegy Holdings Inc., as the borrower (the
“Borrower”), Dynegy Inc., as the parent guarantor (the “Parent Guarantor”), Citibank, N.A. and Bank of America, N.A., as administrative agents (the “Administrative Agents”) for
the Lenders, Bank One, NA (Main Office Chicago), as Collateral Agent for the Lenders, and the various banks, financial institutions and other lenders parties thereto. Capitalized terms used without definition in this Consent shall have the meanings
set forth in the Third Amendment. 
  
 W I T N E S S E T
H: 
  
 WHEREAS, pursuant to Section 1(v) of the Third
Amendment, (i) a new clause (xii)(C) had been added to Section 7.03(b) of the Credit Agreement which set forth a maturity date for the 2003 Second Lien Notes of not earlier than July 31, 2010 (such date being, the “Original Minimum
Maturity Date”) and (ii) a new clause (xv)(x) had been added to Section 7.03(b) of the Credit Agreement which set forth a maturity date for additional secured (on a second priority basis) Indebtedness of not earlier than the Original
Minimum Maturity Date;. 
  
 WHEREAS, the Borrower has requested,
that the Required Lenders (as defined in the Credit Agreement) consent to modify the Original Minimum Maturity Date as hereinafter set forth; 
  
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and subject to the terms and conditions
hereof, the parties hereto agree as follows: 
  
 SECTION 1.
Consent. By its signature below, the undersigned hereby consents that the Original Minimum Maturity Date shall be not earlier than June 30, 2008. This Consent shall become effective upon the receipt by the Administrative Agents of signed
counterparts to this Consent by the Required Lenders (as defined in the Credit Agreement). 
  
 SECTION 2. Execution in Counterparts. This Consent may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute but one and the same agreement. Delivery of an executed counterpart of a signature page to this Consent by telecopier shall be effective as delivery of a manually executed counterpart of this
Consent. 
  
 SECTION 3. Governing Law. This Consent shall
be governed by, and construed in accordance with, the laws of the State of New York, and shall be subject to the jurisdictional and service provisions of the Credit Agreement, as if this were a part of the Credit Agreement. 
  
 [SIGNATURE PAGES TO FOLLOW ON NEXT PAGE] 

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 CITIBANK, N.A., as Administrative Agent, Payment Agent and Lender
  

		
	 By:
	 	 /s/    SUSAN
MCMANIGAL        

		
	 Name:
	 	 Susan McManigal  

		
	Title:	 	 Senior Vice President        

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 BANK OF AMERICA, N.A., as Administrative Agent and Lender
  

		
	 By:
	 	 /s/    CLARA YANG
STRAND        

		
	 Name:
	 	 Clara Yang Strand

		
	 Title:
	 	 Managing Director        

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 BANK ONE, NA, as Collateral Agent, L/C Issuer and Lender
  

		
	 By:
	 	 /s/    KERRY
SHREFFLER        

		
	 Name:
	 	 Kerry D. Shreffler        

		
	 Title:
	 	 Vice President        

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	JPMORGAN CHASE BANK
		
	 By:
	 	 /s/    ROBERT W.
TRABAND        

		
	 Name:
	 	 Robert W. Traband

		
	 Title:
	 	 Vice President        

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 THE TORONTO-DOMINION BANK 
  

		
	 By:
	 	 /s/    JILL HALL
        

	 Name:
	 	 Jill Hall
  

	 Title:
	 	 Mngr. Credit Admin.

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 ABN AMRO BANK N.V. 
  

		
	 By:
	 	 /s/    C. DAVID ALLMAN
        

	 Name:
	 	 C. David Allman
  

	 Title:
	 	 Vice President

  

		
	 By:
	 	 /s/    JOHN D. REED
        

	 Name:
	 	 John D. Reed, CFA
  

	 Title:
	 	 Vice President

  

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 CREDIT LYONNAIS NEW YORK BRANCH
  

		
	 By:
	 	 /s/    Jean-Marc Moriani        

	 Name:
	 	 Jean-Marc Moriani
  

	 Title:
	 	 Chief Executive Officer

  

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 CREDIT SUISSE FIRST BOSTON, Cayman Island Branch
  

		
	 By:
	 	 /s/    DAVID L. SAWYER
      

	 Name:
	 	 David L. Sawyer
  

	 Title:
	 	 Director

  

		
	 By:
	 	 /s/    SHARON M. MEADOWS
    

	 Name:
	 	 Sharon M. Meadows
  

	 Title:
	 	 Managing Director

  

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 LEHMAN COMMERCIAL PAPER INC. 
  

		
	 By:
	 	 /s/    JANE E. GILLARD
        

	 Name:
	 	 Jane E. Gillard
  

	 Title:
	 	 Authorized Signatory

  
  

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 ROYAL BANK OF CANADA
  

		
	 By:
	 	

	 Name:
	 	

	 Title:
	 	

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 SOCIETE GENERALE 
  

		
	 By:
	 	     /s/    ELIZABETH HUNTER
    

	 Name:
	 	 Elizabeth Hunter
  

	 Title:
	 	 Director

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	WESTLB AG, NEW YORK BRANCH 
		
	 By:
	 	 /s/    DUNCAN
ROBERTSON        

	 Name:
	 	 Duncan Robertson

	 Title:
	 	 Executive Director

  

		
	 By:
	 	 /s/    Salvatore
Battinelli        

	 Name:
	 	 Salvatore Battinelli

	 Title:
	 	 Managing Director

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 DEUTSCHE BANK AG
 NEW YORK BRANCH

		
	 By:
	 	 /s/    JOEL
MAKOWSKY        

		
	 Name:
	 	 Joel Makowsky

	 Title:
	 	 Director

		
	 By:
	 	 /s/    OLIVIER
RIEDINGER        

		
	 Name:
	 	 Olivier Riedinger

	 Title:
	 	 Vice President

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	MERRILL LYNCH CAPITAL CORP.
		
	 By:
	 	

		
	 Name:
	 	

		
	 Title:
	 	

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	THE BANK OF NOVA SCOTIA 
		
	 By:
	 	 /s/    DAVID
DAUM        

	 Name:
	 	 David Daum

	 Title:
	 	 Vice President

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	CREDIT AGRICOLE INDOSUEZ 
		
	 By:
	 	

		
	 Name:
	 	

		
	 Title
	 	

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	FLEET NATIONAL BANK
		
	 By:
	 	 /s/    PEGGY PECKHAM

	 Name:
	 	 Peggy Peckham

	 Title:
	 	 Senior Workout Officer

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	FLEET CAPITAL CORPORATION
		
	 By:
	 	 /s/    Terrence W. Allen        

	 Name:
	 	 Terrence W. Allen

	 Title:
	 	 Vice President

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	GOLDMAN SACHS CREDIT PARTNERS, L.P.
		
	 By:
	 	

	 Name:
	 	

	 Title:
	 	

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	MIZUHO GLOBAL, LTD.
		
	 By:
	 	 /S/    KAZUAKI KITABATAKE

	 Name:
	 	 Kazuaki Kitabatake

	 Title:
	 	 Deputy General Manager

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	CITIBANK, N.A., as Administrative Agent, Payment Agent and Lender
		
	 By:
	 	 /S/    SUSAN
MCMANIGAL

	 Name:
	 	 Susan McManigal

	 Title:
	 	 Senior Vice President

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  
 Citadel Equity Fund, Ltd. 
 By: Citadel Limited Partnership, its Portfolio Manager 
 By: GLB Partners, L.P., its
General Partner 
 By: Citadel Investment Group, L.L.C., its General Partner 
  

	 
		
	 By:
	 	 /S/    Gerald Beeson

	 Name:
	 	 Gerald Beeson

	 Title:
	 	 CFO

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  
 Citadel Credit Trading Ltd. 
 By: Citadel Limited Partnership, its Portfolio Manager 
 By: GLB Partners, L.P., its
General Partner 
 By: Citadel Investment Group, L.L.C., its General Partner 
  

	 
		
	 By:
	 	 /S/    GERALD BEESON

	 Name:
	 	 Gerald Beeson

	 Title:
	 	 CFO

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	COMMERZBANK AG, NEW YORK AND GRAND CAYMAN
BRANCHES
		
	 By:
	 	     /s/    HARRY P.
YERGEy    

	 Name:
	 	 Harry P. Yergey

	 Title:
	 	 Senior Vice President & Manager

  

		
	 By:
	 	     /s/    David A. Bennett

	 Name:
	 	 David A. Bennett

	 Title:
	 	 Assistant Vice President

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	BEAR STEARNS & CO., INC.
		
	 By:
	 	

	 Name:
	 	

	 Title:
	 	

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	MERRILL LYNCH, PIERCE, FENNER & SMITH
		
	 By:
	 	 /s/    GRAHAM GOLDSMITH

	 Name:
	 	 Graham Goldsmith

	 Title:
	 	 Managing Director

  

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	CITIGROUP FINANCIAL PRODUCTS INC.
		
	 By:
	 	 /S/    SHAWN BERNET
        

	 Name:
	 	

	 Title:
	 	

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	Oppenheimer Senior FLOATING RATE FUND
		
	 By:
	 	 /s/    BILL CAMPBELL

	 Name:
	 	 Bill Campbell

	 Title:
	 	 Manager

  
  

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	SEMINOLE FUNDING LLC
		
	 By:
	 	 /s/    ANN E. Morris

	 Name:
	 	 Ann E. Morris

	 Title:
	 	 Asst. Vice President

  
  

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	TRS THEBE LLC
		
	 By:
	 	

	 Name:
	 	

	 Title:  
	 	

  

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	UBS AG
		
	 By:
	 	

	 Name:
	 	

	 Title:  
	 	

  

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 BEAR STEARNS INVESTMENT PRODUCTS
INC.

		
	 By:
	 	

		
	 Name:
	 	

		
	 Title:
	 	

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 CENTURION CDO II, LTD.

		
	 By:
	 	 /s/    Leanne Stavrakis

		
	 Name:
	 	         Leanne
Stavrakis      

		
	 Title:
	 	 Director-Operations

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 CENTURION CDO III, LTD

		
	 By:
	 	         /S/    LEANNE
STAVRAKIS                    

		
	 Name:
	 	 Leanne Stavrakis

		
	 Title:
	 	 Director-Operations

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 CENTURION CDO VI

		
	 By:
	 	 /S/    LEANNE STAVRAKIS

		
	 Name:
	 	 Leanne Stavrakis

		
	 Title:
	 	 Director-Operations

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	HBK MASTER FUND L.P.
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	LAGUNA FUNDING LLC
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	SEQUILS-CENTURION V, LTD. 
		
	 By:
	 	 /s/    Leanne Stavrakis
  

	 Name:
	 	 Leanne Stavrakis
  

	 Title:
	 	 Director-Operations
  

  

 IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

	 SPECIAL SITUATIONS INVESTING GROUP,
INC.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

	 ACKNOWLEDGED AND AGREED TO:
  
 DYNEGY HOLDINGS
INC., as Borrower

		
	 By:
	 	 /s/    ROBERT T.
RAY                

	 Name:
	 	 Robert T. Ray        

	 Title:
	 	 Sr. Vice President—Treasurer

	 DYNEGY POWER CORP.
 DPC II INC.
 DYNEGY ENGINEERING, INC.
 DYNEGY SERVICES, INC.
 DYNEGY POWER
MANAGEMENT
 SERVICES, L.P.,
 By: Dynegy Services, Inc., its general partner
 CALCASIEU POWER, INC.
 DYNEGY OPERATING COMPANY
 DYNEGY PARTS
AND TECHNICAL SERVICES, INC.
 DYNEGY POWER MANAGEMENT SERVICES, INC.
 HEP COGEN, INC.
 NORTHWAY COGEN,
INC.
 DYNEGY POWER INVESTMENTS, INC.
 DYNEGY POWER SERVICES, INC.
 DYNEGY POWER NEVADA, INC.
 MICHIGAN COGEN, INC.
 MICHIGAN POWER,
INC.
 MICHIGAN POWER HOLDINGS, INC.
 OCG COGEN, INC.
 OYSTER CREEK COGEN, INC.
 RRP COMPANY
 DPC COLOMBIA – OPON
POWER RESOURCES COMPANY
 TERMO SANTANDER HOLDING, LLC
 RIVERSIDE GENERATION, INC.
 RIVERSIDE GENERATING COMPANY, L.L.C.
 ROLLING HILLS GENERATION, INC.
 DYNEGY
RENAISSANCE POWER, INC.
 DYNEGY NORTHEAST GENERATION, INC.
 HUDSON POWER, L.L.C.
 DYNEGY MIDSTREAM
GP, INC.
 DYNEGY MIDSTREAM SERVICES, LIMITED PARTNERSHIP
 By: Dynegy Midstream G.P., Inc., its general partner
  
 ACKNOWLEDGED AND AGREED TO:

		
	 By:
	 	 /s/    ROBERT T.
RAY        

	 	 	 Robert T. Ray
 Sr. Vice President-Treasurer

	 DYNEGY LIQUIDS MARKETING AND TRADE
 DYNEGY OPI, LLC
 DYNEGY NGL PIPELINE
COMPANY, LLC
 DYNEGY INTRASTATE PIPELINE, LLC
 DYNEGY ENERGY PIPELINE COMPANY LLC
 DYNEGY UPPER HOLDINGS, L.L.C.
 DYNEGY HOLDING COMPANY, L.L.C.
 DMG
ENTERPRISES, INC.
 HAVANA DOCK ENTERPRISES, LLC
 DMT HOLDINGS, INC.
 DMT G.P., L.L.C.
 DMT HOLDINGS, L.P.
 DYNEGY MARKETING
AND TRADE
 DYNEGY COAL TRADING & TRANSPORTATION, L.L.C.
 NGC STORAGE, INC.
 BLACK THUNDER
MEMBER, INC.
 ILLINOVA CORPORATION
 ILLINOVA GENERATING COMPANY
 IGC GRIMES COUNTY, INC.
 IGC GRIMES FRONTIER, INC.
 IPG
FERNDALE, INC.
 IPG PARIS, INC.
 CHARTER OAK (PARIS) INC.
 ILLINOVA ENERGY PARTNERS, INC.
 PARISH POWER, INC.
 CALCASIEU POWER,
LLC
 DELTA COGEN, INC.
 DYNEGY POWER HOLDINGS, INC.
 COGEN POWER, INC.
 COGEN POWER, L.P.
 By: CoGen Power, Inc., its general partner
 DYNEGY LIQUIDS G.P., L.L.C.
 By:
Dynegy Midstream Services,
 Limited Partnership, its sole member
 By: Dynegy Midstream G.P., Inc.
 its
general partner
 DYNEGY INC.
  
 ACKNOWLEDGED AND AGREED TO:

		
	 By:
	 	 /s/    ROBERT T.
RAY        

	 	 	 Robert T. Ray
 Sr. Vice President-Treasurer

  

	 MIDSTREAM BARGE COMPANY, L.L.C.
 DYNEGY REGULATED HOLDINGS, LLC

	
	ACKNOWLEDGED AND AGREED TO:
		
	By:	 	 /s/    ROBERT T. RAY

	 	 	 Robert T. Ray
 Vice President-Treasurer

  

	 BG HOLDINGS, INC.
 BLACK MOUNTAIN COGEN, INC.
 BLUEGRASS
GENERATION, INC.
 BLUEGRASS GENERATION COMPANY, L.L.C.
 DYNEGY CABRILLO II LLC
 BLUE RIDGE GENERATION INC.
 BLUE RIDGE GENERATION LLC
 CHICKAHOMINY GENERATING COMPANY
 CHICKAHOMINY POWER, LLC
 FLORIDA MERCANTILE POWER, INC.
 PALMETTO POWER, L.L.C.
 GASIFICATION SERVICES, INC.
 GEORGIA MERCANTILE POWER, INC.
 HEARD
COUNTY POWER, L.L.C.
 HART COUNTY IPP, INC.
 HARTWELL INDEPENDENT POWER PARTNERS, INC.
 HARTWELL POWER COMPANY
 DYNEGY DANSKAMMER, L.L.C.
 DYNEGY
ROSETON, L.L.C.
 DYNEGY HUDSON POWER RETAIL, L.L.C.
 DYNEGY GLOBAL ENERGY, INC.
 DYNEGY BROADBAND MARKETING AND TRADE
 DYNEGY GP INC.
 DYNEGY TECHNOLOGY
CAPITAL CORP.
 DYNEGY STRATEGIC INVESTMENTS, L.P.
 By: Dynegy Strategic Investments GP,
 L.L.C.,
 its general partner
 DYNEGY STRATEGIC
INVESTMENTS GP, L.L.C.
 RENAISSANCE POWER, L.L.C.
 ROLLING HILLS GENERATING, L.L.C.
 DYNEGY POWER MARKETING, INC.

	
	ACKNOWLEDGED AND AGREED TO:
		
	By:	 	 /s/    CHARLES C. COOK

	 	 	 Charles C. Cook
 Vice President

  

	 DYNEGY ENERGY SERVICES, INC.
 ILLINOIS POWER ENERGY, INC.
 DES
NORTHEAST, INC.
 DEM GP, LLC
 DYNEGY ENERGY MARKETING, LP
 By: DEM GP, LLC, its general partner
 DYNEGY ADMINISTRATIVE SERVICES COMPANY
 NIPC, INC.
 DFS L.P., LLC
 DFS GENERAL PARTNER, LLC
 DYNEGY FINANCIAL SERVICES,
 LIMITED PARTNERSHIP
 DYNEGY CATLIN
MEMBER, INC.
 DYNEGY MIDWEST GENERATION, INC.
 DYNEGY I.T., INC.
 CHESAPEAKE POWER, INC.
 JAMES RIVER ENERGY CORP.
 DPC POWER
RESOURCES HOLDING COMPANY
 DRY CREEK POWER, INC.
 ROCKINGHAM POWER, L.L.C.
 DYNEGY POWER DEVELOPMENT COMPANY
  
 ACKNOWLEDGED AND AGREED TO:

		
	 By:
	 	 /s/    CHARLES C.
COOK        

	 	 	 Charles C. Cook
 Vice President

	 DYNEGY MANAGEMENT, INC.
 DMS LP, INC.
 DMT L.P., L.L.C.
 DYNEGY STRATEGIC INVESTMENTS LP, INC.
 DEM LP, LLC
  
 ACKNOWLEDGED AND
AGREED TO:

		
	 By:
	 	 /s/    LARRY F.
ALTENBAUMER        

	 	 	 Larry F. Altenbaumer
 President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}]]