MAC Clauses

Per our meeting, attached are the current forms of MAC Clauses. I have added
at the end of the list, the Event of Default for change in ownership because
I know that one comes up frequently. Also, I don't know if you want to also
suggest that the other trading groups work from our guaranty forms as well as
our LC form.

The Legal heads of each of the trading groups are:

Mark Taylor: Financial Trading
Jeff Hodge: Physical Gas Trading
Elizabeth Sager: Physical Power Trading
Alan Aronowitz: Physical Global Markets (Liquids, Plastics, Coal, Emissions
& Metals)
Julie Murray: Physical Industrial Markets (Pulp & Paper, Steel)