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SEVENTH
AMENDMENT
TO THE
SITHE STABLE PENSION ACCOUNT PLAN
This
Seventh Amendment to the Sithe Stable Pension Account Plan is made
and entered into by Sithe Energies, Inc. (the
“Company”) this 4 th
day of
December, 2007, effective as of January 1, 2008.
WHEREAS,
the Company
and its predecessors have previously adopted the Sithe Stable
Pension Account Plan, effective January 1, 2000 and as
subsequently amended (the “Plan”); and
WHEREAS,
the Company
and its delegates are authorized and empowered to amend the Plan
pursuant to Section 11.1 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.
NOW,
THEREFORE, the Plan is
hereby amended as of January 1, 2008 as follows:
Section 1.4
is amended
by adding at the end as follows:
“The
Applicable Interest Rate is 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 th
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