Document:

exv10w29

 

EXHIBIT 10.29

EXECUTION COPY

GENERAL ELECTRIC RAILCAR SERVICES CORPORATION

February 18, 2005

Mr. Dirk Cook 

Manager Coal
Transportation 

NRG Power
Marketing Inc. 

211 Carnegie
Center 

Princeton, NJ 08540-6213

Subject: NRG Power Marketing Inc.

Dear Dirk:

The purpose of this letter is to convey a commitment on the part of General Electric Railcar
Services Corporation (“GE Railcar”), to (a) acquire approximately 1,500 newly manufactured
aluminum coal gondola cars (the “Equipment”) through the assignment by NRG Power Marketing Inc.
(“NRG”) of its right to take delivery of the Equipment under the Johnstown American Corporation
Proposal Number 04087, Revision 3, dated August 19, 2004 and accepted by NRG August 23, 2004 (the
“Purchase Agreement”) between NRG and Johnstown America Corporation (“Seller”) and (b) to lease
the Equipment to NRG pursuant to (i) the Railroad Car Full Service Master Leasing Agreement (the
“Master Lease”) dated as of February 18, 2005 between GE Railcar and NRG and (ii) one or more
Initial Riders between GE Railcar and NRG, each to be executed as to the Equipment specified
therein with payment pursuant to the Purchase Agreement to be made as provided for therein (such
date of payment is hereinafter referred to as a “Funding Date”). The lease of the Equipment shall
be on the terms set forth in the form of Initial Rider (attached hereto as Exhibit A). Capitalized
terms used herein without definition have the meanings described to them in the Master Lease.

This commitment is subject to (a) the execution and delivery of the Master Lease, and (b)
satisfaction of the conditions precedent set forth in the Master Lease on the date hereof. In
addition to the conditions set forth in the Lease Documents, the commitment to enter into each
Initial Rider is subject to the conditions set forth in the form of Initial Rider attached hereto
as Exhibit A. The Master Lease, the Guaranty, the Purchase Agreement Assignment, and each Initial
Rider executed and delivered by the parties are collectively referred to as the “Lease Documents.”
In addition to the conditions set forth in the Lease Documents, the commitment to make the payment
due on any Funding Date is subject to the delivery and acceptance of the related Equipment on or
prior to September 30, 2005.

GE Railcar’s commitment is based upon the foregoing and the terms and conditions set forth in the
Master Lease and the form of Initial Rider. By execution and delivery of this letter to GE
Railcar, NRG commits to lease the Equipment from GE Railcar upon the terms, and subject to

 

 

the conditions, set forth in the Lease Documents. If this agreement is acceptable, please indicate
your acceptance by signing in the space below and returning one originally executed commitment to
the undersigned. This agreement shall be governed by and construed in accordance with the laws of
the State of Illinois without regard to its conflicts of laws.

Sincerely,

General Electric Railcar Services Corporation

	 	 	 
	

	 	 

	Name:
	 	 
	Title:
	 	 
	 
	 	 
	Accepted & Agreed:

	 	 
	 
	 	 
	
NRG Power Marketing Inc.
	 	 
	 
	 	 
	

	 	 
	 
	 	 
	

	 	 
	 
	 	 
	

	 	 

 

 

If this agreement is acceptable, please indicate your acceptance by signing in the
space below and returning one originally executed commitment to the undersigned

Sincerely,

	 	 	 	 	 	 	 
	/s/ James N. Muday
	 
	 
	 	 
	By:

	 	James N. Muday
	Title:

	 	Vice President
	General Electric Railcar Services Corporation
	 
	 	 
	Accepted & Agreed:
	 
	 	 
	NRG Power Marketing Inc.
	 
	 	 
	By:
	 	 
	

	 	 
	 
	 	 
	Name:
	 	 
	

	 	 
	 
	 	 
	Title:
	 	 
	

	 	 

 

 

If this agreement is acceptable, please indicate your acceptance by signing in the space
below and returning one originally executed commitment to the undersigned.

Sincerely,

	 	 
	By:
	Title:

General Electric Railcar Services Corporation
 

Accepted & Agreed:

NRG Power Marketing Inc.

	 	 	 	 	 
	By:

	 	/s/ Thomas N. May	 	 
	

	 	 	 	 
	 
	 	 	 	 
	Name:

	 	Thomas N. May	 	 
	

	 	Vice President	 	 
	Title:

	 	NRG Power Marketing Inc.	 	 

 

 

EXHIBIT A TO COMMITMENT LETTER

General Electric Railcar Services Corporation

161 North Clark Street,

Chicago, IL 60601-

Phone 312-853-5235, Fax 312-853-5160

RIDER NO.                    

RAILROAD CAR FULL SERVICE MASTER LEASING AGREEMENT

This Rider (“Rider”) dated as of
                                        , 2005 is made by and between NRG Power Marketing Inc. (“Lessee”), and General Electric Railcar Services Corporation (“Lessor”), and
hereby incorporates by reference all terms and conditions of that certain Railroad Car Full
Service Master Leasing Agreement by and between Lessee and Lessor dated as of February 18, 2005
(the “Master Lease”) and, by such incorporation, this Rider hereby constitutes a separate
agreement of lease with respect to the Cars described herein. The use of the terms “Car” or “Cars”
shall mean the railcars listed below.

Pursuant to the terms of that certain Purchase Agreement Assignment, Lessor has agreed to purchase
and lease to Lessee up to 1500 Cars for an aggregate Capitalized Lessor’s Cost of up to $94,447,276
pursuant to one or more Riders (collectively, the “Initial Riders”). The Delivery Dates for such
Initial Riders shall occur on the dates as the parties may agree, but unless otherwise agreed by
the parties (i) each Rider shall relate to one Train Set, (ii) the last Delivery Date shall occur
no later than September 30, 2005 and (iii) the monthly rental is to be $465.00 per Car, subject to
a one-time adjustment pursuant to Section 4.B of the Master Lease. In no event shall the aggregate
Capitalized Lessor’s Cost with respect to all of the Cars to be leased under the Initial Riders
exceed the amount of $94,447,276.

Matrix

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	Monthly	 	 	 	 	 	 	 	Hi-U	 	Hi-U	 	 	 	Delivery
	 
	 	Rental	 	Term	 	#of	 	Lease	 	Charge	 	Threshold	 	New	 	Schedule
	Car Description
	 	Rate	 	(Months)	 	Cars	 	Type	 	(per mile)	 	Miles	 	Cars	 	Weeks
	286 GRL Coal Gondola
	 	$	____	 	 	120	*	 	 	____	 	 	Full	 	$	.015	 	 	110,000	 	 	Yes	 	 	____	 
	Cars 122 Ton Aluminum
manufactured by Johnstown
America (“Seller”)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	*	 	Following the Interim Term

Capitalized Lessor’s
Cost: [                                         ] [to include applicable sales tax amounts].

Past Due Rate: The rate equal to the lower of (i) the Deutsche Bank Prime Rate plus 2.0%
and (ii) the maximum rate permitted under applicable law.

Stipulated Loss Value: As set forth in Schedule I to this Rider.

 

 

Definitions

Capitalized terms used but not otherwise defined herein shall have the meanings specified in the
Master Lease.

Car Reporting Marks

The Cars subject to this Rider shall enter Lessee’s service with Lessor’s reporting marks and
numbers as set forth on Schedule II to this Rider.

Term

Interim Term: The period beginning on the Delivery Date through September 30, 2005.

Lease Term Commencement
Date: October 1, 2005

Lease Term Expiration
Date: September 30, 2015.

The lease of the Cars pursuant to this Rider shall commence on the date of this Rider upon
satisfaction of the conditions set forth in Section 15B of the Master Lease.

Lessee’s obligation to pay rent under this Rider with respect to each of the Cars will be deemed to
have terminated on the later of the expiration date of this Rider or the day after the respective
Car arrives at a location within 100 miles of the BNSF route running from the Powder River Basin to
Chicago, Illinois or St. Louis, Missouri or as otherwise agreed between Lessor and Lessee. For the
avoidance of doubt, all Cars leased pursuant to this Rider will be returned to a single location.

Renewal Term

So long as no Event of Default has occurred and is continuing and Lessee has not exercised its
option to terminate this Rider pursuant to the provisions of the Early Termination Option set
forth below, Lessee shall have the right to renew the Lease for all but not less than all of the
Cars subject to this Rider for one renewal term for a term to be agreed upon by Lessee and Lessor
(the “Renewal Term”), provided that Lessee has delivered to Lessor irrevocable written
notice not earlier than January 1, 2015 nor later than March 30, 2015. Rent during the Renewal
Term shall equal the Fair Market Rental Value of the Cars.

Early Termination Option

So long as no Event of Default has occurred and is continuing, Lessee shall have the right to
terminate this Rider with respect to the lease of all but not less than all of the Cars on
September 30, 2010, by returning the Cars to Lessor in accordance with Section 10 of the Master
Lease and paying to Lessor a termination price of S4,850.00 per Car plus all other amounts due and
owing to Lessor on and as of such date, provided that Lessee has delivered to Lessor
irrevocable written notice of Lessee’s exercise of its option to terminate substantially in the
form of Exhibit A hereto not earlier than January 1, 2010 nor later than March 30, 2010. Upon
delivery by Lessee of such notice exercising its option to terminate this Rider, Lessee shall be
deemed to have exercised and delivered notice of its option to terminate each other Initial Rider
with respect to the lease of all but not less than all of the Cars subject to each other Initial
Rider.

Upon return of the Cars to Lessor pursuant to and in accordance with Section 10 of the Master Lease
and payment of the termination price set forth above, plus all other amounts due and owing to
Lessor, this Rider shall terminate.

2

 

Commodities

Lessee intends to use the Car(s) for service with the following commodities: Coal and
Synthetic Fuel. The Lessee agrees that the class of car listed above is correct for service with
the following commodities: Coal and Synthetic Fuel. Lessor, upon written request from Lessee, will
evaluate and either approve or disapprove the shipment of alternative commodities.

Permitted Use

Lessee shall use the Cars in accordance with the terms of the Master Lease and Schedule III
to this Rider.

Cleaning

Lessee assumes full responsibility for all costs associated with the removal, disposal and
cleaning of commodities from any Car during and at the end of the lease term, except to the extent
Lessor and Lessee expressly agree in writing.

High Mileage Utilization

For each mile reported by the railroads that each Car covered by this Rider travels in
excess of the Hi-U Threshold Miles set forth in the matrix set forth on page 1, there will be an
additional charge with respect to such Car in an amount equal to the Excess Mileage multiplied
by the Hi-U Charge set forth in the. This charge will be calculated by Lessor and paid annually
by Lessee in arrears.

For purposes of this section, Excess Mileage for any Car equals the miles for such Car reported by
the railroad to Lessor minus the Hi-U Threshold Miles set forth in the matrix set forth on
page 1; provided, that the Hi-U Threshold Miles shall be prorated to the extent that this Rider is
in effect with respect to such Car for less than a full calendar year.

Delivery Location

Subject to availability, the Car(s) will be delivered to Lessee at Seller’s shop at
Danville, Illinois (the “Delivery Location”).

Maintenance Locations

Pursuant to Section 7.C. of the Master Lease, Lessee shall make the Cars available to
Lessor at any shop designated by Lessor on the Lessee’s normal routes of movement running from the
Powder River Basin to Chicago, Illinois or St. Louis, Missouri or such other locations as Lessor
and Lessee may agree.

Tax Benefits

The Tax Benefits available to Lessor are as follows: (A) Lessor shall be entitled to cost
recovery deductions under section 168 of the Code with respect to 100% of Capitalized Lessor’s
Cost computed assuming that each Item of Equipment is “7-year property,” using the 200% declining
balance method over a seven-year recovery period, switching to the straight-line method for the
first taxable year for which using the straight-line method with respect to the adjusted basis as
of the beginning of such year will yield a larger allowance and using the half-year convention,
and (B) Lessor will not, at any time, be required to include in its gross income any amounts
attributable to the transactions contemplated by this Agreement other than (i) Interim Rent and
Basic Term Rent in the amounts and no earlier than at the times such payments are accrued in
accordance with Section 4A of this Agreement, (ii) any gain realized by Lessor on a sale or other
disposition of the Car(s), and (iii) the receipt of any payment of the amount set forth in the
paragraph titled “Early Termination Option” in this Rider.

3

 

Additional Provisions

     A. Lessee hereby certifies that (i) the representations and warranties set forth in Section 11
of the Master Lease are true and correct in all material respects on and as of the date
hereof, except to
the extent that such representations and warranties relate solely to an earlier date (in which
case such
representations and warranties were true and correct on and as of such earlier date), and (ii)
since
February 18, 2005 there has been no amendment, modification or repeal of the certificate of
incorporation, bylaws or the corporate authority of the Lessee that would adversely affect the
ability of
the Lessee to perform its obligations under, or the enforceability of, this Rider, the Master
Lease or any
other Operative Agreement to which it is a party.

     B. So long as no Event of Default has occurred and is continuing, if a Car shall have been
deemed to have suffered an Event of Loss pursuant to Section 7.A or 20 of the Master Lease,
then
Lessee shall have the right to purchase such Car at a purchase price equal to the sum of (A)
the higher of
(i) the Stipulated Loss Value and (ii) the fair market value for such Car plus (B) all other
amounts due
and owing to Lessor, in each case, on and as of such date of purchase. Lessee shall give
Lessor ten (10)
days irrevocable prior written notice of its election to exercise the purchase option provided
for in this
section. Payment of the purchase price described above shall be made on the date specified in
Lessee’s
notice to Lessor at the place of payment specified by Lessor in immediately available funds.
Upon
Lessor’s receipt of such purchase price for such Car, the provisions of Section 10 of the
Master Lease
relating to such Car shall not apply and Lessor shall deliver a bill of sale transferring and
assigning to
Lessee all right, title and interest of Lessor in and to such Car on an “as-is” “where-is”
basis and without
any representation or warranty except as to the absence of any Lessor Lien. The costs of
preparing the
bill of sale and all other documentation relating to any purchase by Lessee pursuant to this
section, the
costs of all necessary filings relating to such purchase and any transfer, sales and similar
taxes relating to
such purchase will be borne by Lessee. In the event of any such purchase and receipt by Lessor
of all of
the amounts provided in this section, the obligation of Lessee to pay rent hereunder in
respect of the
applicable Cars shall cease for the period after such purchase and the term of this Rider
shall terminate
with respect to such Cars.

     C. For purposes of this Rider, the last sentence of Section 3 of the Master Lease is hereby
amended and restated as follows:

The date a Car subject to a Rider is moved by a railroad from Seller’s
plant pursuant to Lessee’s disposition instructions shall be the “Delivery Date”
for such Car.

     D. Section 15.B of the Master Lease is hereby amended to include the following
additional
conditions precedent:

	 	i.  	Each Car shall be a 286 GRL Coal Gondola Car 122 Ton Aluminum
manufactured by Johnstown America.
	 
	 	ii.  	The last Delivery Date with respect to the Cars covered by the Initial
Riders shall occur no later than September 30, 2005.
	 
	 	iii.  	After giving effect to this Rider, the aggregate Capitalized Lessor’s
Cost with respect to all of the Cars leased under the Initial Riders shall be less than
or equal to $94,447,276.
	 
	 	iv.  	The Purchase Agreement Assignment dated as of February 18, 2005 by and
between Lessee and Lessor and acknowledged by Seller (the “Purchase Agreement
Assignment”)

4

 

shall have been duly executed and delivered by the parties thereto and shall
be in full force and effect with respect to the Cars subject to this Rider.

     D. Notwithstanding the provisions of Section 21 of the Master Lease, Lessor shall not
substitute for any Car another Car, except as permitted under Section 8 of the Master Lease.

     E. Section 31 of the Master Lease is hereby amended to include the following additional
definitions:

“Balance
Sheet Date” means December 31, 2003.

“Operative Agreements” means the Master Lease, this Rider, the Guaranty, the
Purchase Agreement Assignment and the Commitment Letter, dated February 18, 2005,
between the Lessor and Lessee.

“Reference Date” means December 17, 2004.

Counterparts

This Agreement may be executed in any number of counterparts, each executed counterpart
constituting an original and in each case such counterparts shall constitute but one and the same
instrument. To the extent that any Rider would constitute chattel paper, as such term is defined
in the Uniform Commercial Code as in effect in any applicable jurisdiction, no security interest
therein may be created without the transfer or possession of the original of this Rider; and no
security interest in this Rider may be created by the transfer or possession of any counterpart of
a Rider other than the original thereof, which shall be identified as the document marked
“Original” and all other counterparts shall be marked “Duplicate”.

[signature page follows]

5

 

          IN WITNESS WHEREOF, the parties hereto intending to be legally bound hereby have caused
this Rider to be duly executed by their respective authorized representatives all as of the day and
year first above written.

	 	 	 	 	 	 	 	 	 
	Accepted on behalf of:
	 	 	 	Accepted on behalf of:

	NRG Power Marketing Inc.	 	 	 	General Electric Railcar Services

Corporation
	 
	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 
	

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Name:

	 	 	 	 	 	Name:	 	 
	

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Title:	 	 	 	 	 	Title: Vice President
	

	 	 	 	 	 	 	 	 

Guarantor hereby (i) certifies that the representations and warranties in Section 15 of the
Guaranty are true and correct in all material respects on and as of the date hereof, except to the
extent that such representations and warranties relate solely to an earlier date (in which case
such representations and warranties were true and correct on and as of such earlier date), (ii)
certifies that since February 18, 2005 there has been no amendment, modification or repeal of the
certificate of incorporation, bylaws or the corporate authority of the Guarantor that would
adversely affect the ability of the Guarantor to perform its obligations under, or the
enforceability of, the Guaranty, this Rider, the Master Lease or any other Operative Agreement to
which it is a party, (iii) acknowledges and consents to the terms and conditions of this Rider and
(iv) reaffirms its obligations under the Guaranty.

	 	 	 	 	 
	NRG Energy, Inc.
	 
	 	 	 	 
	By:
	 	 	 	 
	

	 	 	 	 
	 
	 	 	 	 
	Name:
	 	 	 	 
	

	 	 	 	 
	 
	 	 	 	 
	Title:
	 	 	 	 
	

	 	 	 	 

 

 

Schedule 1 

Stipulated Loss Values

	 	 	 	 	 
	Payment	 	SLV As a Percentage
	#	 	Of OEC
	1

	 	 	100.8021021	 
	2

	 	 	100.9664223	 
	3

	 	 	101.126099	 
	4

	 	 	101.2811321	 
	5

	 	 	101.4315217	 
	6

	 	 	101.5795069	 
	7

	 	 	101.7228486	 
	8

	 	 	101.8615467	 
	9

	 	 	101.9978405	 
	10

	 	 	102.1294908	 
	11

	 	 	102.2564976	 
	12

	 	 	102.3810999	 
	13

	 	 	102.5032979	 
	14

	 	 	102.6184673	 
	15

	 	 	102.726608	 
	16

	 	 	102.8277199	 
	17

	 	 	102.9218032	 
	18

	 	 	103.0134822	 
	19

	 	 	103.0981325	 
	20

	 	 	103.1757541	 
	21

	 	 	103.2509713	 
	22

	 	 	103.3191598	 
	23

	 	 	103.3803197	 
	24

	 	 	103.4390752	 
	25

	 	 	103.4954264	 
	26

	 	 	103.5467249	 
	27

	 	 	103.5929709	 
	28

	 	 	103.6341642	 
	29

	 	 	103.6703048	 
	30

	 	 	103.7040412	 
	31

	 	 	103.7327249	 
	32

	 	 	103.7563559	 
	33

	 	 	103.7775827	 
	34

	 	 	103.7937568	 
	35

	 	 	103.8048782	 
	36

	 	 	103.8135953	 
	37

	 	 	103.8199081	 
	38

	 	 	103.8214756	 
	39

	 	 	103.8182979	 
	40

	 	 	103.810375	 

 

 

Schedule I

Stipulated Loss Values

	 	 	 	 	 
	Payment	 	SLV As a Percentage
	#	 	Of OEC
	41

	 	 	103.7977068	 
	42

	 	 	103.7826343	 
	43

	 	 	103.7628165	 
	44

	 	 	103.7382535	 
	45

	 	 	103.7112861	 
	46

	 	 	103.6795735	 
	47

	 	 	103.6431157	 
	48

	 	 	103.6042535	 
	49

	 	 	103.562987	 
	50

	 	 	103.5082152	 
	51

	 	 	103.4399383	 
	52

	 	 	103.3581562	 
	53

	 	 	103.2628689	 
	54

	 	 	103.1651773	 
	55

	 	 	103.0539804	 
	56

	 	 	102.9292784	 
	57

	 	 	102.802172	 
	58

	 	 	102.6615605	 
	59

	 	 	102.5074437	 
	60

	 	 	102.3509226	 
	61

	 	 	102.1919971	 
	62

	 	 	102.0314006	 
	63

	 	 	101.8691331	 
	64

	 	 	101.7051946	 
	65

	 	 	101.5395851	 
	66

	 	 	101.3715712	 
	67

	 	 	101.2018864	 
	68

	 	 	101.0305305	 
	69

	 	 	100.8567702	 
	70

	 	 	100.681339	 
	71

	 	 	100.5042367	 
	72

	 	 	100.3247301	 
	73

	 	 	100.1428191	 
	74

	 	 	99.96153568	 
	75

	 	 	99.7808799	 
	76

	 	 	99.60085174	 
	77

	 	 	99.42145119	 
	78

	 	 	99.23964627	 
	79

	 	 	99.05846897	 
	80

	 	 	98.87791928	 

 

 

Schedule I

Stipulated Loss Values

	 	 	 	 	 
	Payment	 	SLV As a Percentage
	#	 	Of OEC
	81

	 	 	98.69496522	 
	82

	 	 	98.51263878	 
	83

	 	 	98.33093994	 
	84

	 	 	98.14683675	 
	85

	 	 	97.9603292	 
	86

	 	 	97.77444926	 
	87

	 	 	97.58919692	 
	88

	 	 	97.4045722	 
	89

	 	 	97.22057508	 
	90

	 	 	97.03417361	 
	91

	 	 	96.84839974	 
	92

	 	 	96.66325349	 
	93

	 	 	96.47570287	 
	94

	 	 	96.28877987	 
	95

	 	 	96.10248447	 
	96

	 	 	95.91378471	 
	97

	 	 	95.7226806	 
	98

	 	 	95.5322041	 
	99

	 	 	95.3423552	 
	100

	 	 	95.15313391	 
	101

	 	 	94.96454024	 
	102

	 	 	94.7735422	 
	103

	 	 	94.58317177	 
	104

	 	 	94.39342896	 
	105

	 	 	94.20128178	 
	106

	 	 	94.00976221	 
	107

	 	 	93.81887025	 
	108

	 	 	93.62557394	 
	109

	 	 	93.42987326	 
	110

	 	 	93.23480019	 
	111

	 	 	93.04035474	 
	112

	 	 	92.84653689	 
	113

	 	 	92.65334665	 
	114

	 	 	92.45775205	 
	115

	 	 	92.26278506	 
	116

	 	 	92.06844568	 
	117

	 	 	91.87170195	 
	118

	 	 	91.67558582	 
	119

	 	 	91.4800973	 
	120

	 	 	91.28220442	 

 

 

Schedule II

Car Reporting Marks

Schedule II-Page lexv10w30

 

Exhibit 10.30

NRG ENERGY, INC.

SUMMARY OF DIRECTOR COMPENSATION

Annual Retainers

	 	•  	Nonmanagement directors receive 60 percent of their compensation in the form of cash
and the remaining 40 percent in the form of vested but deferred stock units.
	 
	 	•  	Nonmanagement directors other than the nonexecutive Chairman receive total annual
compensation of $110,000.
	 
	 	•  	The nonexecutive Chairman receives $270,000 in annual compensation.
	 
	 	•  	Members of the Audit Committee receive an additional $5,000 per year and the Chair of
the Audit Committee receives an additional $50,000 per year.
	 
	 	•  	The President and Chief Executive Officer does not receive separate compensation for
Board service.
	 
	 	•  	Additional compensation may be paid for service on special committees or under other
exceptional circumstances.

Additional Compensation in 2004

	 	•  	In 2004, the Audit Committee members received an additional $10,000 for the
extraordinary number (19) of meetings held in 2004.
	 
	 	•  	Directors who served on the Special Committee formed in connection with a transaction
in early 2004 were each paid an additional $20,000 for their services on that committee.
	 
	 	•  	Directors who served on a Special Committee formed in connection with the sale of
shares by MatlinPatterson Global Opportunities Partners L.P. and one of its affiliates to
NRG were each paid an additional $5,000.

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