SEC Contract Filing

Filing Date: 2020-06-08

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
<DESCRIPTION>FORM OF CONSENT FORM
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 <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.1</font><br>
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 <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CONSENT FORM</div>
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 <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Reference is made to the Chapter 11 Plan Backstop Commitment Letter (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Backstop Commitment Letter</font>&#8221;) between PG&amp;E Corporation (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Company</font>&#8221;) and the undersigned investor (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Backstop Party</font>&#8221;).&#160; Capitalized terms used and not defined herein have the meanings given in the Backstop Commitment Letter.</div>
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 <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">1.&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Amendment and Restatement of Backstop Commitment Letter.</u></font>&#160; Subject to
 the satisfaction or waiver of the conditions set forth in Section 4, as of the Effective Time the Backstop Commitment Letter shall be amended and restated in the form attached hereto as <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Exhibit

 A</u></font>.</div>
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 <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">2.&#160; <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>&#8220;Greenshoe Backstop&#8221; Forward Contract.</u></font>&#160; The following provisions of
 this Section 2 are subject to the satisfaction or waiver of the conditions set forth in Section 4:</div>
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 <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">(a)&#160; In connection with any underwritten public offering (an &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Underwritten Offering</font>&#8221;) of (x) shares of New HoldCo Common Stock or (y) securities convertible into any such shares or other equity-linked securities where the underlying security is New HoldCo Common
 Stock (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Other Equity Securities</font>&#8221;), the Company will enter into an underwriting agreement with the representatives of the underwriters for
 each Underwritten Offering (an &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Underwriting Agreement</font>&#8221;), pursuant to which the underwriters for each Underwritten Offering may have the
 option to purchase additional shares of New HoldCo Common Stock (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Option Shares</font>&#8221;) and additional Other Equity Securities (together with
 the Option Shares, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Option Securities</font>&#8221;), as applicable.&#160; The Company will not take any action to interfere with the underwriters&#8217;
 exercise of their independent judgment with respect to the option to purchase the Option Securities at the close of the Underwritten Offering.&#160; In connection with any Underwritten Offering, the Company expects to enter into one or more redeemable
 forward stock purchase contracts upon the terms and conditions set forth on <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Exhibit B</u></font> (each, a &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Forward Contract</font>&#8221;) pursuant to which the Backstop Party and one or more Other Backstop Parties would agree to purchase shares of New HoldCo Common Stock for an aggregate amount not in excess of the aggregate gross
 proceeds that would be received by the Company from the sale of all Option Securities that the underwriters of the Underwritten Offerings have the option to purchase (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Forward Contract Purchase Amount</font>&#8221;) at a per share price equal to the lesser of (a) the price of the Underwritten Offering or (b) the price per share payable by any investor in any Permitted Equity Offering that is
 structured as a private transaction<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"></sup>.&#160; In no event will the Forward Contract Purchase Amount exceed $522,727,273 (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold; font-style: italic;">Maximum Forward
 Contract Amount</font>&#8221;).</div>
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 <div style="text-align: left; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">(b) The Backstop Party commits to enter into the Forward Contract prior to commencement of any Underwritten Offering to purchase
 shares of New HoldCo Common Stock for an aggregate amount equal to the Backstop Party&#8217;s pro rata share of the Maximum Forward Contract