Document:

Filed by Bowne Pure Compliance

 

Exhibit 10.27

TWELFTH AMENDMENT

TO THE

DYNEGY INC. RETIREMENT PLAN

This Twelfth Amendment to the Dynegy Inc. Retirement Plan is made and entered into by Dynegy
Inc., a Delaware corporation (the “Company”) this
4th day of December, 2007, effective as provided
herein.

WITNESSETH:

WHEREAS,
the Company has previously adopted the Dynegy Inc. Retirement Plan, restated as of
December 1, 2001 and as subsequently amended (the “Plan”); and

WHEREAS, the Company and its delegates is authorized and empowered to amend the Plan pursuant
to Section 15.1 of the Plan; and

WHEREAS, the Dynegy Inc. Benefit Plans Committee met and approved on August 23, 2007 certain
changes to the Plan for compliance with the Pension Protection Act of 2006 (“PPA”) and the Company
desires to approve the specific Plan amendments for these changes; and

WHEREAS, the Company desires to reflect vesting service credit for certain employees hired
from certain companies on or before December 31, 2007.

 

 

I.

 NOW, THEREFORE, the Plan is hereby amended as of January 1, 2008 except as otherwise provided
herein as follows:

Section 1.1
is amended by adding a new subsection,
Section 1.1(47A), immediately following Section 1.1(47A), as follows:

	 	“(47A)	 	Qualified Optional Survivor Annuity: An annuity for the life of the
Participant with a survivor annuity for the life of the spouse which is equal
to 75% of the annuity which is payable during the joint lives of the
Participant and the spouse that is the Actuarial Equivalent of the standard
form of benefit and that is provided in compliance with section 417(g) of the
Code commencing as of January 1, 2008.”

II.

Section 1.1(8) is amended by deleting the first sentence and replacing it with the following:

“The annual rate of interest determined in accordance with Code Section 417(e)(3)(c)
for the lookback month preceding the first day of the stability period. For purposes
of this Paragraph, prior to January 1, 2008, the annual rate was the rate of
interest on 30-year treasury securities. On and after January 1, 2008, the annual
rate is the adjusted first, second and third segment rates applied under rules
similar to the rules of Code Section 430(h)(2)(C) for the month before the date of
the distribution or such other time as the Secretary of the Treasury may prescribe
by regulation. For purposes of this Paragraph, the adjusted first, second and third
segment rates are the first, second and third segment rates which would be
determined under Code Section 430(h)(2)(c) if (i) Code Section 430(h)(2)(D) were
applied by substituting the average yields for the month described in clause (ii)
for the average yields for the 24-month period described in such section; (ii) Code
Section 430(h)(2)(G)(i)(II) were applied by substituting “section
417(e)(3)(A)(ii)(II)” for “section
412(b)(5)(B)(ii)(II)”; and (iii) the applicable
percentage under Code Section 430(h)(2)(G) were determined in accordance with the
following table:

	 	 	 	 	 
	For Plan Year	 	Applicable Percentage	 
	 	 	 	 	 
	2008
	 	 	20	%
	 	 	 	 	 
	2009
	 	 	40	%
	 	 	 	 	 
	2010
	 	 	60	%
	 	 	 	 	 
	2011
	 	 	80	%”

 

2

 

III.

Section
1.1(50) of the Plan is amended in its entirety to provide as follows,
effective as of January 1, 2007:

	 	“(50)	 	Service: The period of an individual’s employment with the
Employer or a Controlled Entity. In no event shall Service include any period
of service with a corporation or other entity prior to the date it became a
Controlled Entity or after it ceases to be a Controlled Entity except to the
extent required by law; provided, however, that each individual who was
employed by LS Power Generation, LLC, LS Power Development, LLC or LS Power
Company, LLC (each an ‘LS Power Entity’) immediately prior to the ‘Effective’
Time’ (as defined below) and who subsequently becomes employed by an Employer
after the Effective Time on or before December 31, 2007, shall be credited with
Service solely for purposes of determining such individual’s Vesting Service
under paragraph D-10 of Appendix D to the Plan based upon his original date of
hire with an LS Power Entity; and further provided, that each individual who
was employed by Wood Group Power Operations, Inc., Worley Parsons Group, Inc.,
North American Energy Services Co. , Prime South, Inc. or General Electric
International, Inc. (each a ‘Prior Company’), who terminates employment with a
Prior Company after the Effective Time and on or before December 31, 2007, and
who becomes employed by an Employer on or before December 31, 2007, shall be
credited with Service solely for purposes of determining such individual’s
Vesting Service under paragraph D-10 of Appendix D to the Plan based upon his
original date of hire with the Prior Company. For purposes of this Section
1.1(50) of the Plan, ‘Effective Time’ shall mean the Effective Time specified
in that certain Plan of Merger, Contribution and Sale Agreement by and among
Dynegy Illinois, LSP GEN Investors, L.P., LS Power Partners, L.P., LS Power
Equity Partners PIE I, L.P., LS Power Equity Partners, L.P., LS Power
Associates, L.P., Falcon Merger Sub Co., and Dynegy Acqusition, Inc., executed
September 14, 2006;”

IV.

Section 8.2(c)(3)(B) is amended by deleting the first sentence and replacing it with the
following:

“The term ‘Qualified Election’ shall mean an election to waive the applicable
standard form of annuity and, effective January 1, 2008, to elect or waive the
Qualified Optional Survivor Annuity.”

 

3

 

V.

Section 8.5 is amended by inserting the phrase “or the Qualified Optional Survivor Annuity”
after the phrase “in the standard benefit form set forth in Section 8.3” in the first sentence.

VI.

Appendix D, Section D-10 is amended by deleting the vesting schedule and replacing it with the
following:

“For a Participant with an Hour of Service on or after January 1, 2008:

	 	 	 	 	 
	Completion of Vesting Service	 	Percentage Vested Interest	 
	Less than 1 year
	 	 	0	%
	1 year
	 	 	33	%
	2 years
	 	 	67	%
	3 years or more
	 	 	100	%

For Participants who have not completed an Hour of Service after December 31, 2007:

	 	 	 	 	 
	Completion of Vesting Service	 	Percentage Vested Interest	 
	Less than 1 year
	 	 	0	%
	1 year
	 	 	25	%
	2 years
	 	 	50	%
	3 years
	 	 	750	%
	4 years or more
	 	 	100	%”

VII.

Appendix D, Section D-14 is amended by deleting the third sentence and replacing it
with the following:

“Any Participant may elect not to receive his Portable Retirement Benefit in the
standard form described above, whichever is applicable to him, and instead elect,
commencing January 1, 2008, the Qualified Optional Survivor Annuity, or instead elect to have such benefit paid in the form of a single lump sum
cash payment.”

 

4

 

VIII.

Appendix D,
Section D-20(a) is amended by inserting the phrase “, Qualified Optional Survivor
Annuity” after the phrase “In lieu of the standard” in the first sentence.

IX.

Appendix E, Section 1.5 is amended by adding at the end of the first sentence:

“for dates of distribution prior to January 1, 2008 and, effective January 1, 2008,
the annual rate of interest determined in accordance with section 417(e)(3)(c) for
the lookback month preceding the first day of the stability period.”

X.

Appendix E,
Section 1.6 is amended by adding at the end the following:

“and, effective as of January 1, 2008, means the applicable section 417(e)(3) of the
Code mortality table.”

XI.

Appendix E, Section 8.4 is amended by deleting such section and replacing it with the
following:

“8.4
Election Concerning Form of Benefit. (DMS Plan
Section 8.4) Any
participant who would otherwise receive the standard form of benefit described in
Section 8.3 or, effective January 1, 2008, the Qualified Optional Survivor Annuity
described in Section 8.2(c)(3)(B), may elect not to take his benefit in such forms
by properly executing and filing the benefit election form prescribed by the Committee
during the Election Period described in Appendix Section 8.2(c) as a qualified
election described in Section 8.2(c)(3)(B).”

XII.

Appendix F, Section 1.1(4) is amended by deleting the first sentence and replacing it
with the following:

“The
annual rate of interest determined in accordance with Code Section 417(e)(3)(C)
for the lookback month preceding the first day of the stability period and as
otherwise provided in Section 1.1(8) of the Plan.”

 

5

 

XIII.

Appendix F,
Section 7.2(c)(4)(B) is amended by adding at the end of the first sentence the
following:

“And, effective as of January 1, 2008, to elect or waive the Qualified Optional
Survivor Annuity.”

XIV.

Appendix F, Section 7.4 is amended by adding at the end the following:

“or,
effective as of January 1, 2008, as a Qualified Optional Survivor
Annuity:”

XV.

Appendix F,
Section 7.5 is amended by inserting the phrase “or the Qualified Optional
Survivor Annuity” after the phrase “in the standard benefit
form set forth in Section 7.3” in
the first sentence.

XVI.

Except
as amended herein, the provisions of the Plan shall remain in full force and effect.

IN WITNESS WHEREOF, this Twelfth Amendment has been executed by the duly designated officer
and is effective as of the dates set forth hereinabove.

	 	 	 	 	 
	 	Dynegy Inc.

 	 
	 	By:  	/s/ Julius   Cox
 	 
	 	 	Title: Chairman, Dynegy
Benefit Plans Committee	 
	 	 	 	 
	 

 

6Filed by Bowne Pure Compliance

 

Exhibit 10.28

THIRTEENTH AMENDMENT TO THE 

DYNEGY INC. RETIREMENT PLAN

WHEREAS, Dynegy Inc., a Delaware corporation (“Dynegy”), maintains the Dynegy Inc.
Retirement Plan (the “Plan”) for the benefit of the eligible employees of certain
participating companies;

WHEREAS, Dynegy and its delegates are authorized and empowered to amend the Plan
pursuant to Section 15.1 of the Plan; and

WHEREAS, Dynegy desires to reflect vesting service credit for certain hired employees.

NOW, THEREFORE, BE IT RESOLVED that the Plan shall be, and hereby is, amended as
follows, effective as provided below:

I.

Effective March 17, 2008, Section 1.1(50) of the Plan is amended by adding the
following sentence immediately before the last sentence thereof:

“further provided, each individual who was employed by Accenture LLP on March
1, 2008 and who subsequently becomes employed by an Employer during the period
of time beginning March 17, 2008 and ending on April 30, 2008, shall be
credited with Service solely for purposes of determining such individual’s
Vesting Service under paragraph D-10 of Appendix D to the Plan based upon his
original date of hire with Accenture LLP.”

II.

Except as amended herein, the provisions of the Plan shall remain in full force and effect.

IN WITNESS WHEREOF, the undersigned has caused this Thirteenth Amendment to the Plan to
be executed on the date indicated below, to be effective as provided above.

	 	 	 	 	 	 	 
	 	 	DYNEGY INC.,

a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Julius Cox
 

	 	 
	 

	 	Title:
	 	Chairman of the BPC
	 	 
	 

	 	Date:
	 	March 31, 2008

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}]]