SEC Contract Filing

Filing Date: 2016-10-04

Document Content:
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<TYPE>EX-10.7
<SEQUENCE>8
<FILENAME>d176523dex107.htm
<DESCRIPTION>EX-10.7
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<TITLE>EX-10.7</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.7 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONSULTING SERVICES AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS CONSULTING SERVICES AGREEMENT (this &#147;<U>Agreement</U>&#148;), is dated October&nbsp;4, 2016 (the &#147;<U>Commencement
Date</U>&#148;), by and between Energy Future Holdings Corp. (&#147;<U>EFH</U>&#148;), a Texas corporation (the &#147;<U>Company</U>&#148;), and Paul Keglevic, an individual (&#147;<U>Consultant</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company desires to retain and engage Consultant, and Consultant desires to offer his knowledge and expertise, as the President,
Chief Executive Officer, Chief Restructuring Officer and the Chief Accounting Officer (&#147;<U>CEO</U>&#148;) of the Company; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Parties acknowledge that the relationship between the Company and Consultant is an independent contractor relationship. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, the Parties hereto agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Appointment; Consulting Arrangement</U>. The Company hereby confirms Consultant&#146;s appointment as CEO effective as of the
Commencement Date, and Consultant will have such duties, authority and responsibilities as shall be determined from time to time by the board of directors of the Company (the &#147;<U>Board</U>&#148;), which duties, authority and responsibilities
shall be customary for the CEO position in a business of similar size, type, circumstances and nature to that of the Company. Consultant shall (i)&nbsp;be the senior most executive officer of the Company and certain of its subsidiaries,
(ii)&nbsp;report directly and exclusively to the Board with respect to his duties and responsibilities to the Company, (iii)&nbsp;serve as a member of the board of directors/managers of certain of the Company&#146;s subsidiaries, including without
limitation the board of managers of Energy Future Intermediate Holding Company LLC (&#147;<U>EFIH</U>&#148;) and the board of directors of EFIH Finance Inc., and (iv)&nbsp;perform such other duties and responsibilities as shall be agreed upon
between Consultant and the Company and/or the Board (collectively, the &#147;<U>Services</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Term, Termination and Other
Service</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The term of Consultant&#146;s tenure as CEO (the &#147;<U>Consulting Term</U>&#148;) commenced as of Commencement Date
and shall terminate on the EFH Effective Date, as defined in the Fourth Amended Joint Plan of Reorganization of Energy Future Holdings Corp. et al, filed with the United States Bankruptcy Court for the District of Delaware on September&nbsp;21,
2016, and as may be amended from time to time (the &#147;<U>Expiration Date</U>&#148;). The Company or Consultant may terminate the Consulting Term prior to the Expiration Date by giving sixty (60)&nbsp;days prior written notice to the other party.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Consultant agrees, to the extent necessary to reasonably discharge the Services, to use Consultant&#146;s commercially reasonable
efforts and such time as is reasonably required to perform such duties and responsibilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Upon termination of the Consulting Term,
Consultant shall be deemed to have resigned from all positions with the Company and its subsidiaries, including without limitation, all director, manager, and officer positions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Consultant may (i)(A) continue to serve on the boards of directors of the entities on which
he serves on the Commencement Date, and (B)&nbsp;serve on the boards of directors of any investment fund or other pooled investment vehicle that is a subsidiary or an affiliate of such entities, including, without limitation, any such subsidiary or
affiliate that may be formed after the date hereof, (ii)&nbsp;serve as a member of the board of directors of a reasonable number of other for-profit companies that do not compete with the Company, (iii)&nbsp;serve on civic, charitable, educational,
religious, public interest or public service boards, and (iv)&nbsp;manage Consultant&#146;s personal and family investments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.
<U>Compensation</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roma