Document:

Exhibit
4.2

 

 

FIFTH SUPPLEMENTAL INDENTURE

 

dated as of April 1, 2008

 

to

 

INDENTURE

 

dated as of  November 1, 2000

 

AMEREN ENERGY GENERATING COMPANY

 

to

 

THE BANK OF NEW YORK TRUST COMPANY, N.A., as
Trustee

 

 

$300,000,000 7.00% Senior Notes, Series G
Due 2018

 

 

FIFTH SUPPLEMENTAL INDENTURE (this “Fifth
Supplemental Indenture”), dated as of April 1, 2008, to the Indenture,
dated as of November 1, 2000 (the “Original Indenture”), from AMEREN
ENERGY GENERATING COMPANY, an Illinois corporation (together with its
successors and assigns, the “Issuer”), its principal office and mailing address
being at One Ameren Plaza, 1901 Chouteau Avenue, P.O. Box 66149, St.
Louis, Missouri 63166-6149, to THE BANK OF NEW YORK TRUST COMPANY, N.A., a
national banking association organized and existing under and by virtue of the
laws of the United States, as trustee (the “Trustee”), its office and mailing
address being at 911 Washington Avenue, 3rd Floor St. Louis, Missouri 63101.

 

W I T N E S S E T H:

 

WHEREAS, the Issuer and the Trustee have
heretofore executed and delivered the Original Indenture to provide for the
issuance from time to time of the Issuer’s Securities (as defined in the
Original Indenture) to be issued in one or more series;

 

WHEREAS, Sections 2.1 and 7.1(b) of the
Original Indenture provide, among other things, that the Issuer and the Trustee
may enter into indentures supplemental to the Original Indenture for, among
other things, the purpose of establishing the designation, form, terms and
provisions of Securities of any series as permitted by Sections 2.1 and 7.1(b) of
the Original Indenture;

 

WHEREAS, the Issuer (i) desires the
issuance of a series of Securities to be designated as hereinafter provided and
(ii) has requested the Trustee to enter into this Fifth Supplemental
Indenture for the purpose of establishing the designation, form, terms and
provisions of the Securities of such series;

 

WHEREAS, all action on the part of the Issuer
necessary to authorize the issuance of said Securities under the Original
Indenture and this Fifth Supplemental Indenture (the Original Indenture, as
supplemented by this Fifth Supplemental Indenture, being hereinafter called the
“Indenture”) has been duly taken; and

 

WHEREAS, all acts and things necessary to
make said Securities, when executed by the Issuer and authenticated and
delivered by the Trustee as provided in the Original Indenture, the legal,
valid and binding obligations of the Issuer, and to constitute these presents a
valid and binding supplemental indenture according to its terms, have been done
and performed, and the execution of this Fifth Supplemental Indenture and the
creation and issuance under the Indenture of said Securities have in all
respects been duly authorized, and the Issuer, in the exercise of the legal
right and power vested in it, executes this Fifth Supplemental Indenture and
proposes to create, execute, issue and deliver said Securities;

 

NOW, THEREFORE, in order to establish the
designation, form, terms and provisions of, and to authorize the authentication
and delivery of, said Securities, and in consideration of the acceptance of
said Securities by the holders thereof and of other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto agree as follows:

 

 

ARTICLE I

 

DEFINITIONS

 

Capitalized terms not otherwise defined
herein shall have the meanings set forth in the Original Indenture.

 

ARTICLE II

 

THE TERMS OF THE SERIES G NOTES

 

Section 2.1           Terms of 7.00% Senior Notes, Series G
due 2018.  (a)  There is hereby
created one (1) series of Securities designated:  7.00% Senior Notes, Series G due 2018,
in the initial aggregate principal amount of $300,000,000 (the “Series G
Senior Notes”).  Upon delivery of a
written order to the Trustee in accordance with the provisions of Section 2.1
of the Original Indenture, the Trustee shall authenticate and deliver the Series G
Senior Notes.  Such written order shall
specify the amount of the Series G Senior Notes to be authenticated and
the date on which such Series G Senior Notes are to be authenticated.

 

(b)           The
Series G Senior Notes shall be substantially in the form of Exhibit A
hereto.

 

Section 2.2           Terms of Series G Senior Notes
Issued Hereunder in Global Form.

 

(a)           So
long as DTC or its nominee is the registered owner or Holder of a Global
Security, DTC or its nominee, as the case may be, will be considered the sole
owner or Holder of the Series G Senior Notes represented by such Global
Security for all purposes under the Original Indenture and under the Series G
Senior Notes.  No beneficial owner of an
interest in a Global Security will be able to transfer that interest except in
accordance with DTC’s applicable procedures unless the Issuer shall issue
certificates for the Series G Senior Notes in definitive registered form.

 

(b)           All
payments of the principal of, and interest and additional interest and premium,
if any, on, a Global Security will be made to DTC or its nominees, as the
registered owners thereof.

 

(c)           Transfers
between participants in DTC will be effected in the ordinary way in accordance
with DTC rules and will be settled in same-day funds.

 

(d)           Certificated
definitive Series G Senior Notes may be in denominations of less than
$100,000 to the extent any redemption has reduced such Holder’s aggregate
holding of such Series G Senior Notes to less than $100,000.

 

(e)           If
any redemption affecting the Series G Senior Notes would result in the
amount to be paid to a Holder of such affected Senior Note in respect of such
redemption not to equal $1,000 or an integral multiple thereof, the Issuer
shall instruct the Trustee to round the amount to be paid to such Holder to the
nearest $1,000 so that the amount to be paid to such Holder equals $1,000 or an
integral multiple thereof.

 

2

 

(f)            Beneficial
interests in a Global Security (and any Series G Senior Notes issued in
exchange therefor) will be subject to certain restrictions on transfer set
forth therein and in the Original Indenture and as set forth on the form of
such Global Security.  Exhibit B, as
referred to in Section 2.4 of the Original Indenture, and Exhibits C, D, E
and F, as referred to in Section 2.6 of the Original Indenture, are
attached hereto as Exhibits B, C, D, E and F, respectively.

 

(g)           Except
in the limited circumstances described under Section 2.2(h) below,
beneficial interests in a Global Security will only be recorded by book-entry,
and owners of beneficial interests in a Global Security will not be entitled to
receive physical delivery of certificates representing Series G Senior
Notes.

 

(h)           If
(i) DTC or any successor depository notifies the Issuer that it is
unwilling or unable to continue as a depository for a Global Security or ceases
to be a “clearing agency” registered under the Exchange Act and a successor
depository is not appointed by the Issuer within 90 days of such notice, (ii) an
Event of Default under the Series G Senior Notes has occurred and is
continuing and payment of principal and interest has been accelerated or (iii) the
Issuer decides, at its option, to discontinue use of the book-entry system
through DTC, then the Issuer shall issue certificates for the Series G
Senior Notes in definitive registered form substantially in the form attached
hereto in exchange for the Global Security outstanding.

 

(i)            The
holder of a certificated definitive registered Series G Senior Note may
transfer such Series G Senior Note in whole or in part by surrendering it
at the Corporate Trust Office of the Trustee in accordance with the terms of
the Indenture and such Series G Senior Note.  Upon the transfer, exchange or replacement of
definitive Series G Senior Notes, the Issuer will deliver only definitive Series G
Senior Notes that bear a restrictive legend unless there is delivered to the
Issuer such satisfactory evidence, which may include an opinion of counsel, as
may reasonably be required by the Issuer, that neither the legend nor the
restrictions on transfer set forth therein are required to ensure compliance
with the provisions of the Securities Act.

 

Section 2.3           Interest, Principal, Maturity Date and
Regular Record Date.  The Series G
Senior Notes shall bear interest on the unpaid principal amount thereof from
time to time outstanding from the date of authentication thereof until such
amount is paid in full at the rate of interest set forth in the form of such Series G
Senior Note attached hereto.  The
principal amount of the Series G Senior Notes shall be due and payable at
maturity as set forth in the form of Series G Senior Note attached hereto.

 

Payment of principal, premium, if any, and
interest on the Series G Senior Notes shall be made as provided in
Sections 2.4, 2.10, 3.2 and 3.4 of the Original Indenture, except that the
final payment of principal of the Series G Senior Notes shall be made on
the due date therefor to the account of the Holder as such account shall appear
in the Security Register, which amount shall be payable upon presentation and
surrender of such Series G Senior Note at the office of the Issuer.

 

The Series G Senior Notes shall mature
on the date and in the amounts set forth thereon.

 

3

 

The record date applicable to the Series G
Senior Notes issued hereunder shall be as set forth in the form of Series G
Senior Note attached hereto.

 

All payments of principal, premium, if any,
and interest with respect to certificated Series G Senior Notes will be
made by bank check mailed on the interest payment date to the address of such
Holder on the Security Register or, for Holders of at least U.S. $1,000,000 in
aggregate principal amount of Series G Senior Notes, by wire transfer on
the interest payment date of immediately available funds to a dollar account
maintained by such Holder with a bank or other financial institution; provided that a written request from such Holder to such
effect designating such account is received by the Trustee and the Issuer or
the paying agent no later than the record date immediately preceding such
Interest Payment Date.  Unless such
designation is revoked, any such designation made by such person with respect
to such certificated Series G Senior Notes will remain in effect with
respect to any future payments with respect to such certificated Senior Note
payable to such person.

 

Section 2.4           Optional Redemption.  The Series G Senior Notes issued
hereunder are subject to optional redemption, in whole or in part, at any time
at the option of the Issuer at a redemption price equal to 100% of the
outstanding principal amount of the Series G Senior Notes being so
redeemed plus accrued and unpaid interest thereon to the date fixed for
redemption (the “Determination Date”) together with the Applicable Premium
applicable thereto.

 

Section 2.5           Reopen Series.  The Issuer, from time to time, without the
consent of the Holders of the Series G Senior Notes, may reopen the Series G
Senior Notes and create and issue further senior debt securities under the
Indenture having the same terms and conditions (including the same CUSIP
number) as the Series G Senior Notes issued hereunder in all respects,
except for the date of original issuance, the initial interest payment date and
the offering price.  Such additional
senior debt securities shall be consolidated with, and form a single series
with, the previously outstanding Series G Senior Notes hereunder.

 

Section 2.6           Applicable Premium.  As used herein, “Applicable Premium” means an
amount calculated as follows:

 

(i)            the average life of the remaining scheduled
payments of principal in respect of Outstanding Series G Senior Notes (the
“Remaining Average Life”) shall be calculated as of the Determination Date;

 

(ii)           the yield to maturity calculated as of a
date not more than five days prior to the Determination Date for the United
States Treasury security having an average life equal to the Remaining Average
Life and trading in the secondary market at the price closest to the principal
amount thereof (the “Primary Issue”); provided, however, that if no United States Treasury security has an
average life equal to the Remaining Average Life, the yields (the “Other Yields”)
for the two maturities of United States Treasury securities having average
lives most closely corresponding to such Remaining Average Life and trading in
the secondary market at the price closest to the principal amount thereof shall
be calculated, and the yield to maturity for the Primary Issue shall be the
yield interpolated or 

 

4

 

extrapolated from such Other Yields on a
straight line basis, rounding in each of such relevant periods to the nearest
month;

 

(iii)          the discounted present value of the
then-remaining scheduled payments of principal and interest (but excluding that
portion of any scheduled payment of interest that is actually due and paid on
the Determination Date) in respect of the Outstanding Series G Senior
Notes shall be calculated as of the Determination Date using a discount factor
equal to the sum of (x) the yield to maturity for the Primary Issue, plus
(y) 50 basis points; and

 

(iv)          the amount of Applicable Premium in respect
of the Series G Senior Notes to be redeemed shall be an amount equal to (x) the
discounted present value of such Series G Senior Notes to be redeemed
determined in accordance with clause (iii) above, minus (y) the
unpaid principal amount of such Series G Senior Notes; provided, however, that
the Applicable Premium shall not be less than zero; and

 

(v)           such calculation shall be made by an
Investment Banker.

 

Section 2.7           Amendments for Benefit of Series G
Senior Notes.  The Indenture is
hereby amended, pursuant to Section 7.1(d) of the Original Indenture
for the benefit of the holders of the Series G Senior Notes and for so
long as the Series G Senior Notes are outstanding, as follows:

 

(a)           Section 1.1
of the Original Indenture is amended by adding to the definitions the
following: “‘Existing Generating Assets’, when used in respect of the
$300,000,000 7.00% Senior Notes, Series G due 2018, means the coal-fired
and oil-fired units and gas-fired units owned by the Issuer as of the date of
issuance of such Notes.”

 

(b)           Notwithstanding
Section 3.13 of the Original Indenture, the Issuer may not cease to comply
with the covenants of Sections 3.11 and 3.12 of the Original Indenture unless,
in addition to complying with such Section 3.13, the rating on the Series G
Senior Notes from Standard & Poor’s Ratings Services (or any successor
thereto) is at least BBB+ after giving effect to such cessation.

 

(c)           Section 3.9
of the Original Indenture is amended to delete the words “Initial Generation
Assets” and insert in lieu thereof the words “Existing Generating Assets”.

 

(d)           Section 4.1(i) of
the Original Indenture is amended to delete the words “Initial Generating
Assets” and insert in lieu thereof the words “Existing Generating Assets”.

 

(e)           In
Section 4.1(i) of the Original Indenture, for the avoidance of doubt,
the reference to the “Genco-Marketing Co. PPA” shall be deemed to refer to the
Amended and Restated Power Supply Agreement dated as of March 28, 2008
between the Issuer and Marketing Co.

 

(f)            References
in Section 2.4 of the Original Indenture to “restricted period” shall be
deemed to refer to “distribution compliance period” as defined in Regulation S.

 

5

 

ARTICLE III

 

MISCELLANEOUS

 

Section 3.1           Execution of Supplemental Indenture.  This Fifth Supplemental Indenture is executed
and shall be construed as an indenture supplemental to the Original Indenture
and, as provided in the Original Indenture, this Fifth Supplemental Indenture
forms a part thereof.

 

Section 3.2           Concerning the Trustee.  The Trustee shall not be responsible in any
manner for or with respect to the validity or sufficiency of this Fifth
Supplemental Indenture, or the due execution hereof by the Issuer, or for or
with respect to the recitals and statements contained herein, all of which
recitals and statements are made solely by the Issuer.

 

Section 3.3           Counterparts.  This Fifth Supplemental Indenture may be
executed in any number of counterparts, each of which when so executed shall be
deemed to be an original; but all such counterparts shall together constitute
but one and the same instrument.

 

Section 3.4           GOVERNING LAW.  THIS FIFTH SUPPLEMENTAL INDENTURE AND THE
SERIES G SENIOR NOTES ISSUED HEREUNDER SHALL, PURSUANT TO SECTION 5-1401
OF THE NEW YORK GENERAL OBLIGATIONS LAW, BE GOVERNED BY THE LAW OF THE STATE OF
NEW YORK, WITHOUT REFERENCE TO THE CHOICE OF LAW PROVISIONS THEREOF (OTHER THAN
SUCH SECTION 5-1401).

 

6

 

IN WITNESS WHEREOF, the parties hereto have
caused this Fifth Supplemental Indenture to be duly executed as of April 1,
2008.

 

	
   

  	
  AMEREN
  ENERGY GENERATING

  COMPANY, as Issuer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jerre
  E. Birdsong

  
	
   

  	
   

  	
  Name:  Jerre E. Birdsong

  
	
   

  	
   

  	
  Title:  Vice
  President and Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
  THE BANK OF
  NEW YORK TRUST

  COMPANY, N.A., as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mary E.
  Marler

  
	
   

  	
   

  	
  Name:  Mary E. Marler

  
	
   

  	
   

  	
  Title:  Vice
  President

  

 

[FIFTH SUPPLEMENTAL INDENTURE]

 

 

EXHIBIT A

 

FORM OF SECURITY

 

[INCLUDE IF SECURITY IS A
GLOBAL SECURITY DEPOSITED WITH THE U.S. DEPOSITARY – UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO
THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY CERTIFICATE ISSUED IN EXCHANGE FOR THIS CERTIFICATE OR ANY PORTION HEREOF
IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY OR
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE &
CO.), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON OTHER THAN THE DEPOSITORY TRUST COMPANY OR A NOMINEE THEREOF IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.

 

TRANSFERS OF THIS GLOBAL
SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES
OF THE DEPOSITORY TRUST COMPANY OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN SECTION 2.6
OF THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.]

 

[INCLUDE IF SECURITY IS NOT
ISSUED TO FOREIGN PURCHASERS UNDER REGULATION S – THIS NOTE (OR ITS
PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE
ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM AND IN ANY
EVENT MAY BE SOLD OR OTHERWISE TRANSFERRED ONLY IN ACCORDANCE WITH THE
INDENTURE, COPIES OF WHICH ARE AVAILABLE FOR INSPECTION AT THE CORPORATE TRUST
OFFICE OF THE TRUSTEE IN NEW YORK.

 

EACH PURCHASER OF THIS NOTE IS
HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE
PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER.  EACH HOLDER OF THIS NOTE REPRESENTS TO AMEREN
ENERGY GENERATING COMPANY THAT (a) SUCH HOLDER WILL NOT SELL, PLEDGE OR
OTHERWISE TRANSFER THIS NOTE (WITHOUT THE CONSENT OF AMEREN ENERGY GENERATING
COMPANY) PRIOR TO THE DATE WHICH IS ONE YEAR (OR SIX MONTHS IF ALL THE
APPLICABLE CONDITIONS TO SUCH RESALE UNDER RULE 144 UNDER THE SECURITIES ACT
(OR ANY SUCCESSOR PROVISION THEREOF) ARE SATISFIED) AFTER THE LATER OF THE
ORIGINAL ISSUANCE DATE THEREOF, THE ISSUANCE DATE OF ANY SUBSEQUENT REOPENING
AND THE LAST DATE ON WHICH AMEREN ENERGY 

 

 

GENERATING COMPANY OR ANY OF
ITS AFFILIATES WAS THE OWNER OF SUCH SECURITY OR THE EXPIRATION OF SUCH SHORTER
PERIOD AS MAY BE PRESCRIBED BY SUCH RULE 144 (OR SUCH SUCCESSOR PROVISION)
PERMITTING RESALES OF THIS NOTE WITHOUT ANY CONDITIONS (THE ‘‘RESALE
RESTRICTION TERMINATION DATE’’) OTHER THAN (i) TO A QUALIFIED
INSTITUTIONAL BUYER IN A TRANSACTION COMPLYING WITH RULE 144A UNDER THE
SECURITIES ACT, (ii) IN ACCORDANCE WITH RULE 144 UNDER THE SECURITIES ACT,
(iii) OUTSIDE THE UNITED STATES IN A TRANSACTION MEETING THE REQUIREMENTS
OF REGULATION S UNDER THE SECURITIES ACT, (iv) PURSUANT TO ANOTHER
AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, SUBJECT, IN THE
CASE OF CLAUSES (ii) OR (iv), TO THE RECEIPT BY AMEREN ENERGY GENERATING
COMPANY OF AN OPINION OF COUNSEL OR SUCH OTHER EVIDENCE ACCEPTABLE TO AMEREN
ENERGY GENERATING COMPANY THAT SUCH RESALE, PLEDGE OR TRANSFER IS EXEMPT FROM
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR (v) PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT AND THAT (b) THE HOLDER WILL, AND EACH
SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS NOTE OF THE
RESALE RESTRICTIONS REFERRED TO HEREIN AND DELIVER TO THE TRANSFEREE (OTHER
THAN A QUALIFIED INSTITUTIONAL BUYER) PRIOR TO THE SALE A COPY OF THE TRANSFER
RESTRICTIONS APPLICABLE HERETO (COPIES OF WHICH MAY BE OBTAINED FROM THE
TRUSTEE).  THE FOREGOING RESTRICTIONS ON
RESALE WILL NOT APPLY SUBSEQUENT TO THE RESALE RESTRICTION TERMINATION.]

 

[INCLUDE IF SECURITY IS ISSUED
TO FOREIGN PURCHASERS UNDER REGULATION S – BY ITS ACQUISITION HEREOF, EACH
HOLDER OF THIS SECURITY, AND EACH PERSON THAT ACQUIRES A BENEFICIAL INTEREST IN
SUCH SECURITY, AGREES THAT PRIOR TO THE EXPIRATION OF THE DISTRIBUTION
COMPLIANCE PERIOD (AS DEFINED IN THE INDENTURE), BENEFICIAL INTERESTS IN THIS
SECURITY MAY ONLY BE OFFERED, RESOLD OR OTHERWISE TRANSFERRED (A) INSIDE
THE UNITED STATES TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE
144A UNDER THE SECURITIES ACT OF 1933 OR PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933 OR (B) OUTSIDE
THE UNITED STATES IN A TRANSACTION MEETING THE REQUIREMENTS OF REGULATION S
UNDER THE SECURITIES ACT OF 1933 AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE
SECURITIES LAWS OF THE STATES OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION.

 

BY ITS ACQUISITION HEREOF, EACH
HOLDER OF THIS SECURITY, AND EACH PERSON THAT ACQUIRES A BENEFICIAL INTEREST IN
SUCH SECURITY, AGREES TO BE BOUND BY THE PROVISIONS OF A REGISTRATION RIGHTS
AGREEMENT DATED APRIL 9, 2008 BETWEEN AMEREN ENERGY GENERATING COMPANY AND THE
INITIAL PURCHASERS NAMED THEREIN (THE “REGISTRATION RIGHTS AGREEMENT”).

 

2

 

[FORM OF FACE OF SERIES G SENIOR NOTE]

 

	
  CUSIP 

  
	
  [           ][           ][           ]

  
	
   

  
	
  [Common Code]

  
	
  [ISIN][           ]

  
	
   

  
	
  No.

  

 

$

AMEREN ENERGY GENERATING COMPANY

7.00% Senior Notes, Series G Due 2018

 

Ameren Energy Generating Company (the “Issuer”),
for value received hereby promises to pay to
                                      
or registered assigns the principal sum of
                        
Dollars at the Issuer’s office or agency for said purpose as provided in the
Indenture referred to herein, on April 15, 2018 in such coin or currency
of the United States of America as at the time of payment shall be legal tender
for the payment of public and private debts, and to pay interest, semi-annually
in arrears on April 15 and October 15 of each year, commencing October 15,
2008, on said principal sum in like coin or currency at the rate per annum set
forth above at said offices or agencies from the date of original issuance or
the most recent interest payment date to which interest on the Series G
Senior Notes has been paid or duly provided for.  Notwithstanding the foregoing, if the date
hereof is after April 1 or October 1, as the case may be, and before
the following April 15 or October 15, this Senior Note shall bear
interest from such April 15 or October 15; provided, that if the
Issuer shall default in the payment of interest due on such April 15 or October 15,
then this Senior Note shall bear interest from the next preceding April 15
or October 15 to which interest on the Series G Senior Notes has been
paid or duly provided for and provided further that interest due on October 15,
2008 on this Senior Note shall accrue from the date of original issuance.  The interest so payable on any April 15
or October 15 will, except as otherwise provided in the Indenture referred
to on the reverse hereof, be paid to the Person in whose name this Senior Note
is registered at the close of business on the 1st day of April or the 1st
day of October preceding such April 15 or October 15, whether or
not such day is a Business Day; provided, that principal, premium, if any, and
interest shall be paid by mailing on the interest payment date a check for such
to or upon the written order of the registered Holders of Series G Senior
Notes entitled thereto at their last address as it appears on the Series G
Senior Notes Register or, upon written application to the Trustee by a Holder
of $1,000,000 or more in aggregate principal amount of Series G Senior
Notes, by wire transfer on the interest payment date of immediately available
funds to an account maintained by such Holder with a bank or other financial
institution.  Interest on this Senior
Note shall be computed on the basis of a 360-day year comprised of twelve
30-day months.  Additional Interest (as
defined in the Registration Rights Agreement) shall accrue on this Senior Note
under the circumstances provided for in the Registration Rights Agreement.

 

3

 

Interest on overdue principal and (to the
extent permitted by applicable law) on overdue installments of interest
(including without limitation during the 5-day period referred to in Section 4.1(b) of
the Indenture) shall accrue at the rate per annum set forth above.

 

Reference is made to the further provisions
set forth on the reverse hereof.  Such
further provisions shall for all purposes have the same effect as though fully
set forth at this place.

 

4

 

This Senior Note shall not be entitled to any
benefit under the Indenture, or be valid or obligatory, until the certificate
of authentication hereon shall have been duly signed by the Trustee acting
under the Indenture.

 

IN WITNESS WHEREOF, the Issuer has caused
this instrument to be duly executed.

 

	
   

  	
  AMEREN
  ENERGY GENERATING COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
  (SEAL)

  	
   

  	
   

  
	
  Attested:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By: 

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
					

 

5

 

[FORM OF REVERSE OF SERIES G SENIOR
NOTE]

 

AMEREN ENERGY GENERATING COMPANY

 

7.00% Senior Notes, Series G Due 2018

 

This Senior Note is one of a duly authorized
issue of debt securities of the Issuer, limited to the aggregate principal
amount of $300,000,000 (except as otherwise provided in the Indenture mentioned
below), issued or to be issued pursuant to an Indenture dated as of November 1,
2000 as supplemented by the Fifth Supplemental Indenture dated as of April 1,
2008 (as so supplemented, the “Indenture”), duly executed and delivered
by the Issuer to the Trustee.  Reference
is hereby made to the Indenture and all indentures supplemental thereto for a
description of the rights, limitations of rights, obligations, duties and
immunities thereunder of the Trustee, the Issuer and the Holders (the words “Holders”
or “Holder” meaning the registered holders or registered holder) of the Series G
Senior Notes.  Capitalized terms used
herein, but not otherwise defined herein, shall have the meanings assigned to
them in the Indenture.

 

In case an Event of Default shall have
occurred and be continuing, the principal of all the Securities may be declared
due and payable, in the manner and with the effect, and subject to the
conditions, provided in the Indenture. 
The Indenture provides that in certain events such declaration and its
consequences may be waived by the Holders of a majority in aggregate principal
amount of the Securities then Outstanding and that, prior to any such
declaration, such Holders may waive any past default under the Indenture and
its consequences except a default in the payment of principal of or premium, if
any, or interest on any of the Securities and as otherwise provided in the
Indenture.  Any such consent or waiver by
the Holder of this Senior Note (unless revoked as provided in the Indenture)
shall be conclusive and binding upon such Holder and upon all future Holders
and owners of this Senior Note and any Security which may be issued in exchange
or substitution hereof, whether or not any notation thereof is made upon this
Senior Note or such other Security.

 

The Indenture permits the Issuer and the
Trustee, with the consent of the Holders of not less than a majority in
aggregate principal amount of the Securities of all series at the time
Outstanding considered as one class, evidenced as in the Indenture provided, to
modify the Indenture or any supplemental indentures or the rights of the
Holders of the Series G Senior Notes; provided that no such
modification shall (a) change the Stated Maturity of the principal of, or
any installment of principal of or interest on, any Security, or reduce the
principal amount thereof, or reduce the rate or extend the time of payment of
interest thereon, or reduce any amount payable on redemption thereof or impair
or affect the right of any Holder of the Security to institute suit for the
payment thereof without the consent of the Holder of each Security so affected;
or (b)(i) reduce the aforesaid percentage of Securities, the consent of
the Holders of which is required for any such modification or the percentage of
Securities, the consent of Holders of which is required for any waiver provided
for in the Indenture; (ii) change any obligation of the Issuer to maintain
an office or agency for payment of and transfer and exchange of the Securities;
or (iii) make certain changes to provisions relating to waiver or to the
provision for supplementing the Indenture; in each case without the consent of
the Holders of all Securities then Outstanding.

 

6

 

No reference herein to the Indenture and no
provision of this Senior Note or of the Indenture shall alter or impair the
obligation of the Issuer, which is absolute and unconditional, to pay the
principal of and premium, if any, and interest on this Senior Note at the
place, times, and rate, and in the currency, herein prescribed.

 

The Series G Senior Notes are issuable
only as registered Series G Senior Notes without coupons in denominations
of $100,000 and any integral multiple of $1,000 in excess thereof.

 

At the office or agency of the Issuer
referred to on the face hereof and in the manner and subject to the limitations
provided in the Indenture, Series G Senior Notes may be presented for
exchange for a like aggregate principal amount of Series G Senior Notes of
other authorized denominations.

 

Upon due presentment for registration of
transfer of this Senior Note at the above-mentioned office or agency of the
Issuer, a new Series G Senior Note or Series G Senior Notes of
authorized denominations, for a like aggregate principal amount, will be issued
to the transferee as provided in the Indenture. 
No service charge shall be made for any such transfer, but the Issuer
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in relation thereto.

 

The Series G Senior Notes may be
redeemed in whole or in part (if in part, by lot or by such other method as the
Trustee shall deem fair or appropriate) prior to Stated Maturity at the option
of the Issuer, upon mailing a notice of such redemption not less than 30 nor
more than 60 days prior to the date fixed for redemption to the Holders of Series G
Senior Notes, all as provided in the Indenture, at a redemption price equal to
100% of the principal amount thereof plus accrued and unpaid interest thereon,
if any, to the date of redemption, plus the Applicable Premium.

 

Subject to payment by the Issuer of a sum
sufficient to pay the amount due on redemption, interest on this Senior Note
shall cease to accrue upon the date duly fixed for redemption of this Senior
Note.

 

The Issuer, the Trustee, and any authorized
agent of the Issuer or the Trustee, may deem and treat the registered Holder
hereof as the absolute owner of this Senior Note (whether or not this Senior
Note shall be overdue and notwithstanding any notation of ownership or other
writing hereon made by anyone other than the Issuer or the Trustee or any
authorized agent of the Issuer or the Trustee), for the purpose of receiving
payment of, or on account of, the principal hereof and premium, if any, and,
subject to the provisions on the face hereof, interest hereon and for all other
purposes, and neither the Issuer nor the Trustee nor any authorized agent of
the Issuer or the Trustee shall be affected by any notice to the contrary.

 

No recourse shall be had for the payment of
the principal of, or premium, if any, or the interest on this Senior Note, for
any claim based hereon, or otherwise in respect hereof, or based on or in
respect of the Indenture or any indenture supplemental thereto, against any
incorporator, shareholder, officer or director, as such, past, present or
future, of the Issuer or of any successor corporation, either directly or
through the Issuer or any successor corporation, whether by virtue of any
constitution, statute or rule of law or by the enforcement of any
assessment or penalty or 

 

7

 

otherwise, all such liability being, by the
acceptance hereof and as part of the consideration for the issue hereof,
expressly waived and released.

 

8

 

[FORM OF TRUSTEE’S CERTIFICATE OF
AUTHENTICATION]

 

Dated:

 

This is one of the Series G Senior Notes
referred to in the within-mentioned Indenture.

 

	
   

  	
  THE BANK OF
  NEW YORK TRUST

  COMPANY, N.A., as Trustee 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized Signatory

  

 

9

 

[FORM OF ASSIGNMENT]

 

I or we assign and transfer this Security to:

 

(Insert assignee’s social security or tax
I.D. number)

 

	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

(Print or type name, address and zip code of
assignee)

 

and irrevocably appoint:

 

	
   

  	
   

  
	
   

  	
   

  

 

Agent to transfer this Security on the books
of the Issuer.  The Agent may substitute
another to act for him.

 

	
  Date:

  	
   

  	
   

  	
  Your
  Signature:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  (Sign
  exactly as your name

  appears on the other side of

  this Security) 

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  *Signature Guarantee:

  	
   

  
	
   

  	
   

  	
   

  
									

	
   

  	
  *Signatures
  must be guaranteed by an “eligible guarantor institution” meeting the

  
	
   

  	
  requirements
  of the Registrar, which requirements include membership or participation in
  STAMP or such other “signature guarantee program” as may be determined by the
  Registrar in addition to, or in substitution for, STAMP, all in accordance
  with the Securities Exchange Act of 1934.

  
			

 

10

 

EXHIBIT B

 

FORM OF DISTRIBUTION COMPLIANCE PERIOD
CERTIFICATE

AMEREN ENERGY GENERATING COMPANY

 

[DATE]

 

	
  The Depository Trust Company

  
	
  [Address]

  
	
   

  
	
  The Bank of New York Trust Company, N.A.,

  as Trustee 

  
	
  Attn: Corporate Trust

  
	
  911 Washington Avenue, 3rd Floor

  
	
  St. Louis, Missouri 63101

  

 

Re:                               Ameren Energy
Generating Company 7.00% Senior Notes, Series G Due 2018

 

Ladies and Gentlemen:

 

Reference is hereby made to the Indenture
dated as of November 1, 2000 (the “Indenture”) from Ameren Energy
Generating Company, to The Bank of New York Trust Company, N.A., as
Trustee.  Capitalized terms used and not
defined herein shall have the meanings given them in the Indenture.

 

This letter is related to U.S.
$                            
principal amount of Series G Senior Notes represented by the Restricted
Regulation S Global Security, held by the Trustee pursuant to Section 2.4
of the Indenture.  We hereby certify that
the offering of the Series G Senior Notes has closed and that the
distribution compliance period (as defined in Regulation S) with respect to the
offer and sale of the Series G Senior Notes has terminated.

 

	
   

  	
  THE BANK OF
  NEW YORK TRUST

  COMPANY, N.A., as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized Signatory

  

 

	
  cc:

  	
  [Euroclear]

  
	
   

  	
  [CLEARSTREAM]

  

 

 

EXHIBIT C

 

FORM OF TRANSFER CERTIFICATE

FOR TRANSFER OR EXCHANGE FROM RULE 144A
GLOBAL SECURITY

OR IAI GLOBAL SECURITY TO RESTRICTED
REGULATION S GLOBAL SECURITY

 

(Transfers or exchanges pursuant to

Section 2.6(b)(ii) of the
Indenture)

 

The Bank of New York Trust Company, N.A.,

  as
Trustee

Attn: Corporate Trust

911 Washington Avenue, 3rd Floor

St. Louis, Missouri 63101

 

	
  Re:

  	
   

  	
  Ameren
  Energy Generating Company 7.00% Senior Notes, Series G

  
	
   

  	
   

  	
  Due 2018
  (the “Series G Senior Notes”)

  	
   

  

 

Reference is hereby made to the Indenture
dated as of November 1, 2000 (the “Indenture”) from Ameren Energy
Generating Company to The Bank of New York Trust Company, N.A., as
Trustee.  Capitalized terms used but not
defined herein shall have the meanings given to them in the Indenture.

 

This letter relates to
U.S.$                            
principal amount of Series G Senior Notes which are held in the form of
the [Rule 144A] [IAI] Global Security (CUSIP
No.[           ][           ])
with the U.S. Depositary in the name of [insert name of transferor] (the “Transferor”).  The Transferor has requested a transfer or
exchange of such beneficial interest for an interest in the Restricted
Regulation S Global Security (CUSIP No.            )
to be held with [Euroclear] [Clearstream] (Common Code
                )
through the U.S. Depositary.

 

In connection with such request and in
respect of such Series G Senior Notes, the Transferor does hereby certify
that such transfer or exchange has been effected in accordance with the
transfer restrictions set forth in the Indenture and the Series G Senior
Notes and pursuant to and in accordance with Regulation S under the Securities
Act, and accordingly the Transferor does hereby certify that:

 

(1)           the
offer of the Series G Senior Notes was not made to a person in the United
States;

 

[(2)          at
the time the buy order was originated, the transferee was outside the United
States or the Transferor and any person acting on its behalf reasonably
believed that the transferee was outside the United States;]*

 

[(2)          the
transaction was executed in, on or through the facilities of a designated
offshore securities market and neither the Transferor nor any person acting on
its behalf knows that the transaction was pre-arranged with a buyer in the
United States;]*

 

 

(3)           no
directed selling efforts have been made in contravention of the requirements of
Rule 903(b) or 904(b) of Regulation S, as applicable; and

 

(4)           the
transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act.

 

This certificate and the statements contained
herein are made for your benefit and the benefit of the Issuer and the Initial
Purchasers.

 

	
   

  	
  [Insert Name
  of Transferor]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

	
  Dated:

  	
   

  	
   

  
	
   

  	
   

  
	
  cc:

  	
  Ameren
  Energy Generating Company

  
	
   

  	
   

  
	
   

  	
   

  
	
  * Insert one
  of these two provisions, which come from the definition of “offshore
  transactions” in Regulation S.

  
				

 

2

 

EXHIBIT D

 

FORM OF TRANSFER CERTIFICATE

FOR TRANSFER OR EXCHANGE FROM RULE 144A
GLOBAL SECURITY

OR IAI GLOBAL SECURITY TO UNRESTRICTED
REGULATION S GLOBAL SECURITY

 

(Exchanges or transfers pursuant to

Section 2.6(b)(iii)of the Indenture)

 

The Bank of New York Trust Company, N.A.,

  as
Trustee

Attn: Corporate Trust

911 Washington Avenue, 3rd Floor

St. Louis, Missouri 63101

 

	
  Re:

  	
   

  	
  Ameren
  Energy Generating Company 7.00% Senior Notes, Series G

  
	
   

  	
   

  	
  Due 2018
  (the “Series G Senior Notes”)

  	
   

  

 

Reference is hereby made to the Indenture
dated as of November 1, 2000 (the “Indenture”) from Ameren Energy
Generating Company to The Bank of New York Trust Company, N.A., as
Trustee.  Capitalized terms used but not
defined herein shall have the meanings given to them in the Indenture.

 

This letter relates to
U.S.$                            
principal amount of Series G Senior Notes which are held in the form of
the [Rule 144A] [IAI] Global Security (CUSIP No. [           ][            ])
with the U.S. Depositary in the name of [insert name of transferor] (the “Transferor”).  The Transferor has requested an exchange or
transfer of such beneficial interest in the Series G Senior Notes for an
interest in the Unrestricted Regulation S Global Security (CUSIP No.            ).

 

In connection with such request and in
respect of such Series G Senior Notes, the Transferor does hereby certify
that such exchange or transfer has been effected in accordance with the
transfer restrictions set forth in the Indenture and the Series G Senior
Notes and,

 

(i)            with
respect to transfers made in reliance on Regulation S under the Securities Act,
the Transferor does hereby certify that:

 

(1)           the
offer of the Series G Senior Notes was not made to a person in the United
States;

 

[(2)          at
the time the buy order was originated, the transferee was outside the United
States or the Transferor and any person acting on its behalf reasonably
believed that the transferee was outside the United States;]*

 

[(2)          the
transaction was executed in, on or through the facilities of a designated
offshore securities market and neither the Transferor nor any person acting on
its behalf knows that the transaction was pre-arranged with a buyer in the
United States;]*

 

 

(3)           no
directed selling efforts have been made in contravention of the requirements of
Rule 903(b) or 904(b) of Regulation S, as applicable; and

 

(4)           the
transaction is pursuant to and in accordance with Regulation S and is not part
of a plan or scheme to evade the registration requirements of the United States
Securities Act of 1933, as amended (the “Securities Act”);

 

(ii)           with
respect to transfers made in reliance on Rule 144 under the Securities
Act, the transferor does hereby certify that the Series G Senior Notes are
being transferred in a transaction permitted by Rule 144 under the
Securities Act,

 

(iii)          with
respect to transfers made in reliance on another exemption from the Securities
Act (including without limitation Rule 144A), the transferor does hereby
certify that the following is the basis for the exemption:
                                  ,
or

 

(iv)          with
respect to an exchange, the transferor does hereby certify that either (x) the
Security being exchanged is not a “restricted security” as defined in Rule 144
under the Securities Act or (y) the exchange is being made to facilitate a
contemporaneous transfer that complies with Section 2.6(b)(iii) of
the Indenture.

 

This certificate and the statements contained
herein are made for your benefit and the benefit of the Issuer and the Initial
Purchasers.

 

	
   

  	
  [Insert Name
  of Transferor]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

	
  Dated:

  	
   

  	
   

  
	
   

  	
   

  
	
  cc:

  	
  Ameren
  Energy Generating Company

  
	
   

  	
   

  
	
   

  	
   

  
	
  * Insert one
  of these two provisions, which come from the definition of “offshore
  transactions” in Regulation S.

  
				

 

2

 

EXHIBIT E

 

FORM OF TRANSFER CERTIFICATE FOR TRANSFER
OR EXCHANGE

FROM RESTRICTED REGULATION S GLOBAL SECURITY,
UNRESTRICTED

REGULATION S GLOBAL SECURITY OR

IAI GLOBAL SECURITY TO RULE 144A GLOBAL
SECURITY

 

(Exchanges or transfers pursuant to

Section 2.6(b)(iv) of the
Indenture)

 

The Bank of New York Trust Company, N.A.,

  as
Trustee

Attn: Corporate Trust

911 Washington Avenue, 3rd Floor

St. Louis, Missouri 63101

 

	
  Re:

  	
   

  	
  Ameren
  Energy Generating Company 7.00% Senior Notes, Series G

  
	
   

  	
   

  	
  Due 2018
  (the “Series G Senior Notes”)

  	
   

  

 

Reference is hereby made to the Indenture
dated as of November 1, 2000 (the “Indenture”) from Ameren Energy
Generating Company to The Bank of New York Trust Company, N.A., as
Trustee.  Capitalized terms used but not
defined herein shall have the meanings given to them in the Indenture.

 

This letter relates to U.S.
$                            
principal amount of Series G Senior Notes which are held in the form of
the [[Restricted][Unrestricted] Regulation S Global Security (CUSIP No.            )
with [Euroclear] [Clearstream].*  (Common
Code
              )]
[IAI Global Security (CUSIP No.            )]
through the U.S. Depositary in the name of [insert name of transferor] (the “Transferor”).  The Transferor has requested a transfer or
exchange of such beneficial interest in the Series G Senior Notes for an
interest in the Rule 144A Global Security.

 

In connection with such request, and in
respect of such Series G Senior Notes, the Transferor does hereby certify
that such Series G Senior Notes are being transferred or exchanged in accordance
with (i) the transfer restrictions set forth in the Series G Senior
Notes and (ii) Rule 144A under the Securities Act to a transferee
that the Transferor reasonably believes is purchasing the Series G Senior
Notes for its own account or an account with respect to which the transferee
exercises sole investment discretion and the transferee and any such account is
a “qualified institutional buyer” within the meaning of Rule 144A, in each
case in a transaction meeting the requirements of Rule 144A and in
accordance with any applicable securities laws of any state of the United
States or any other jurisdiction.

 

*  Select appropriate depositary.

 

 

This certificate and the statements contained
herein are made for your benefit and the benefit of the Issuer and the Initial
Purchasers.

 

	
   

  	
  [Insert Name
  of Transferor]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

	
  Dated:

  	
   

  	
   

  
	
   

  	
   

  
	
  cc:

  	
  Ameren
  Energy Generating Company

  

 

 

EXHIBIT F

 

FORM OF TRANSFER CERTIFICATE FOR
TRANSFER

OR EXCHANGE FROM RULE 144A GLOBAL SECURITY,
RESTRICTED REGULATION 

 GLOBAL
SECURITY OR UNRESTRICTED REGULATION S GLOBAL SECURITY

TO IAI GLOBAL SECURITY

 

(Exchanges or transfers Pursuant to

Section 2.6(b)(v) of the Indenture)

 

The Bank of New York Trust Company, N.A.,

  as
Trustee

Attn: Corporate Trust

911 Washington Avenue, 3rd Floor

St. Louis, Missouri 63101

 

	
  Re:

  	
   

  	
  Ameren
  Energy Generating Company 7.00% Senior Notes, Series G

  
	
   

  	
   

  	
  Due 2018
  (the “Series G Senior Notes”)

  	
   

  

 

Reference is hereby made to the Indenture
dated as of November 1, 2000 (the “Indenture”) from Ameren Energy
Generating Company to The Bank of New York Trust Company, N.A., as
Trustee.  Capitalized terms used but not
defined herein shall have the meanings given to them in the Indenture.

 

This letter relates to
U.S.$                            
principal amount of Series G Senior Notes which are held in the form of
the [Rule 144A Global Security (CUSIP No.           )
with the U.S. Depositary] [[Restricted][Unrestricted] Regulation S Global
Security (CUSIP No.           )
with [Euroclear] [Clearstream]]* in the name of [insert name of transferor]
(the “Transferor”).  The
Transferor has requested an exchange or transfer of such Global Security for an
interest in the IAI Global Security (CUSIP No.           ).

 

In connection with such request with respect
to a transfer or exchange for an interest in the IAI Global Security, the
Transferor does hereby certify that such exchange or transfer has been effected
in accordance with the transfer restrictions set forth in the Rule 144A
Global Security, the Restricted Regulation S Global Security and the
Unrestricted Regulation S Global Security (as the case may be) and, with
respect to transfers made in reliance on Rule 144 under the Securities
Act, certify that the Securities are being transferred in a transaction
permitted by Rule 144 under the Securities Act.

 

*  Select appropriate depositary.

 

 

In connection with such request with respect
to a transfer or exchange for an interest in the IAI Global Security, and in
respect of such Rule 144A Global Security, Restricted Regulations S Global
Security and Unrestricted Regulation S Global Security (as the case may be),
the Transferor does hereby certify that such Global Security is being
transferred or exchanged in accordance with (i) the transfer restrictions
set forth in the Global Securities and (ii) in accordance with the
Securities Act to a transferee that the Transferor reasonably believes is
purchasing the IAI Global Securities for its own account or an account with
respect to which the transferee exercises sole investment discretion and the
transferee and any such account is an institution that is an “accredited
investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under
the Securities Act, in each case purchasing IAI Global Securities in a transaction
exempt from the Securities Act and in accordance with any applicable securities
laws of any state of the United States or any other jurisdiction.

 

This certificate and the statements contained
herein are made for your benefit and the benefit of the Issuer and the Initial
Purchasers.

 

	
   

  	
  [Insert Name
  of Transferor]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

	
  Dated:

  	
   

  	
   

  
	
   

  	
   

  
	
  cc:

  	
  Ameren
  Energy Generating CompanyExhibit 10.1

 

CHASE CORPORATION

ANNUAL INCENTIVE PLAN

 

The
Company, in addition to salary and benefits provides further cash compensation
to key employees based on achieving preset annual goals.

 

The
plan is maintained and paid at the sole discretion of the Board of Directors
and may be modified or suspended at any time by the Board.

 

Upon
approval by the Board of Directors, the Corporate H.R. Manager will administer
the plan.

 

An
annual bonus pool is created as a percentage of actual operating income achieved
during the fiscal year.  The amount is
determined by the success in reaching the year’s targeted results.  The schedule follows:

 

	
  Percentage of Target Achieved

  	
   

  	
  Bonus Pool as a Percentage of Actual

  Operating Income

  	
   

  
	
  120%

  	
   

  	
  17%

  	
   

  
	
  110

  	
   

  	
  16

  	
   

  
	
  100

  	
   

  	
  15

  	
   

  
	
  90

  	
   

  	
  14

  	
   

  
	
  80

  	
   

  	
  13

  	
   

  
	
  70

  	
   

  	
  12

  	
   

  
	
  60

  	
   

  	
  11

  	
   

  
	
  50

  	
   

  	
  10

  	
   

  

 

As
consideration for achieving qualitative results by the Company, the Board of
Directors, at its sole discretion, may increase or decrease dollars in the
pool.

 

It
is the intent of the Board of Directors to exclude the effect of unusual events
and expenses from the calculation.  The
Compensation and Management Development Committee is given the authority by the
Board to use its discretion in determining relevant exclusions.

 

Targets,
awards, opportunities and associated performance award methodology and
eligibility requirements will be established by the Compensation and Management
Development Committee for the Chief Executive Officer, Chief Operating Officer,
Chief Financial Officer and Chief Marketing Officer and approved by the Board
of Directors.  For senior management, the
CEO will make recommendations to be approved by the Compensation and Management
Development Committee.  For all other
employees the CEO will be the approval authority.  See schedule below for award opportunities
for the executive officers:

 

1

 

	
  Annual
  Target for FY August 31, 2008

   

   

  Award
  Opportunity

  	
   

  	
  Earnings
  Before Tax (“EBT”) target as approved by the Board of Directors. Payment
  threshold is 50% of target as scheduled below for respective positions.

   

  
	
  Chief
  Executive Officer

   

  	
   

  	
  50%
  of base salary for 100% achievement of target. At 50% of target award is
  8.33% of base salary; at 75% of target award is 25% of base salary. For
  results in excess of target, award increases to 100% of base salary at
  approximately 155% of target.

   

  
	
  Chief
  Operating Officer

  	
   

  	
  40
  % of base salary for 100% achievement of target. At 50% of target award is
  6.67% of base salary; at 75% of target award is 20% of base salary. For
  results in excess of target, award increases to 100% of base salary at
  approximately 163% of target.

   

  
	
  Chief
  Financial Officer

  	
   

  	
  30%
  of base salary for 100% achievement of target. At 50% of target award is 5%
  of base salary; at 75% of target award is 15% of base salary. For results in
  excess of target, award increases to 100% of base salary at 175% of target.

   

  
	
  Chief
  Marketing Officer

  	
   

  	
  30%
  of base salary for 100% achievement of target. At 50% of target award is 5%
  of base salary; at 75% of target award is 15% of base salary. For results in
  excess of target, award increases to 100% of base salary at 175% of target.

  

 

In
order for any amounts to be payable under this Annual Incentive Plan, actual results
must meet a threshold level of 50% of the target.  There is no cap on the incentive payments.

 

Payment
is made in cash no later than 75 days from the close of the fiscal year.

 

To
be eligible an employee must be on the active payroll when the bonus is paid
and for at least 6 months prior to the end of the fiscal year.

 

In
addition to the financial targets the Compensation and Management Development Committee
may choose to establish qualitative measurement criteria.  Together with the financial measures these
are referred to as critical success factors (CSF).  When utilized, the CEO’s CSF and appropriate
weighting is approved by the board.  The
CEO will approve all others.

 

Other
management and non-union bonus participants will have opportunities established
by senior management and awards paid from the bonus pool.

 

2

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