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Schedule 7 I. I (E)

Disputes lCitv or Citv Utility Commission)

I. there is a question whether WKEC has an obligation to pay t h e City Utility Commission for energy that the City Utility Commission does not schedule or take ("Excess Henderson Energy") during a particuizr how, when the City Utility Commission does not provide WKEC with a schedule in advance stating how much Excess Henderson Energy is available for VL'KEC's use. The parties are in discussions in an attempt to resolve these issues.

With regard to City Utility Commission's reserved capacity from Station Two,

2. to the Agreement With Respect to Operating Reserves and Amendment No. I to System Reserves Agreement dated July 15, 1998, there is a question regarding price. The parties are in discussions in an attempt to resolve this issue.

With regard to the City Utility Commission's power purchases from LEM pursuant

3. Keenon Ogden: (a) that certain letter dated February 9,2006 to Rob Toerne of WKEC regarding items that the City Utility Commission stated required resolution prior to executing a release in favor of WKEC and E.ON; and (b) that certain letter dated June 22,2006 to James M. Miller, Sullivan, Mountjoy, Stainback e( Miller and Tim Dowdy, E.ON U.S. LLC regarding points of discussion and agreements reached during a meeting with the City Utility Commission on June 14, 2006.

Any unresolved items set forth on the following letters from C.B. West of Stoll

4, With regard to payment by WKEC of the deductible amount pursuant to an insurance claim in connection with a thermal excursion on the Henderson Unit 1 that occurred on August 23, 2004, WKEC requested that the City Utility Commission pay its capacity share of the deductible amount (an amount equal to $60,897.44). The City Utility Commission has asserted that the accident was a result of negligence on the part of WKEC and, therefore, it is not contractually obligated to reimburse WKEC for its share of the deductible. WKEC disagrees. The parties are in discussions in an attempt to resolve this issue.

5. taken in 2006 showed less fuel in inventory than WKEC showed on its books. WKEC took a fuel inventory adjustment, but the City Utility Commission has yet to accept the new inventory and has not taken s u c h an adjustment to its inventory.

With regard to the fuel inventory a t Station Two, an annual physical fuel inventory

3 -2 6-07 Page 592 of 622

Schedule I I .I (o)(i)

- LIENS ON OWNED INTELLECTUAL PROPERTY

None

3-26-07 Page 593 of 622

Schedule I 1 .I (o)(ii>

LIENS ON INTELLECTUAL PROPERTY LICENSES - NO CONSENT REQUIRED

None

3-26-07 Page 594 of 622

Schedule I 1 .I (o)(iii)

LIENS ON INTELLECTUAL PROPERN LICENSES - CONSENT REQUIRED

System Order leasing agreement between SupplyPro, Inc and Western Kentucky Energy Corp., executed by the parties on M a y 31, 2005, June 1, 2005 and August 24, 2005 (WKE PO #I 04795) relating to SupplyPro automated or computer-operated supply cabinets ordinarily located at the Coleman and Wilson Power Stations. As noted on Schedule 1 I .I (9, a lien exists with respect to this agreement and the collateral includes software or intellectual property associated with the cabinets.

3-26-07 Page 595 of 622

3-26-07

Schedule ? 7 .? (o)fiv)

-. LIENS ON SUPPORT SERVtCES INTELLECTUAL PROPERTY

None

Page 596 of 622

Schedule 11.1 (o)(v)

INTELLECTUAL PROPERTY NEEDED TO OPEMTE GENERATING PLANTS

None

3-26-07 Page 597 of 622

Schedule 1 'i .? (o)(vi)

INTELLECTUAL PROPERTY (OTHER THAN COMPUTER SOFTWARE) A V A I M ! I -- FOR USE

None

3-26-07 Page 598 of 622

Schedule 11.2(f)

Existing Big Rivers Litigation

1. Coleman Plants (initiated September 19, 2000).

EPA Section 1 14 New Source Review inquiry regarding the Reid, Wilson and

_. 7 Proceeding before the KPSC to approve Transaction.

US-EAST: 160192847 2 Page 599 of 622

Schedule 12.2(a)(vil

NON INCREMENTAL CAPITAL EXPENDITURES

C i ~ s i ~ g Year Month

January, 2007 F eb ru a ry March April

June July August September October November December

May

OHS Eas1:160168513 9

Non Incremental Capitai Expenditures

e) 49,000 972,500

4,015,100 2,33 5,000 6,038,000 2,606,300 1,560,300 2,414,500 1,047,500 3,865,500 1,152,500 121,500

Sch. 12.2(a)(vi)- 1

Page 600 of 622

Schedule 15.1

Scope And Format Fur Unwind Environmental Audit

BIG RIVERS ELECTRIC COR.PORATION (“Rig Rivers”) and the WKE PARTIES hereby agree as follows:

1. The Unwind Environmental Audit shall have a scope and forniat substantially similar to the Baseline Environmental Audit R.eport for Big Rivers’ power plants, dated July 13, 1998, and prepared by Woodward-Clyde Consultants, 263 Seaboard Lane, Suite 200, Franklin, Tennessee 37067 (“Baseline Audit”). The properties addressed in the IJnwind Environmental Audit shall include any properties covered in the Baseline Audit, plus any properties in which Big Rivers intends to acquire a real property interest in connection with the Closing. Nothing contained in this Schedule 15.1 or anything conducted or undertaken in connection with the Unwind Environmental Audit, nor anything contained in the Unwind Envirorunental Audit Report shall be deemed to be an admission by any Party of its or any other Party’s responsibility or liability for any Damages or other events, circumstances, conditions or other matters.

2. The Unwind Environmental Audit shall consist of two phases; an initial Phase I environmental site assessment performed in accordance with ASTM 1527-05, as described below, and a field evaluaticii. The objectives of the i i i iai assessinmi will be to identify, to the extent practicable, activities or operations at the three generating facilities with the potential to impact soil, sediment, surface water, or ground water. The objectives of the initial assessment shall be met using indirect methods such as record reviews, area photograph reviews, environmental database searches, interviews with knowledgeable personnel, and site inspections.

INITIAL ASSESSMENT

1. The initial assessment shall be performed in compliance with the ASTM 1527-0s Phase I Environmental Site Assessment Process. “lie initial assessment shall include on-site visits, database searches, visual observation and such other investigations as are consistent with ASTM 1527-05 or are otherwise specified with respect to known or suspected soil and groundwater Contamination, wetlands, asbestos, PCBs, endangered species, lead-based paint, solid waste management and disposal and other cnvirnnmentai issucs that, in Big Rivcr’s opinion, are subject to indemnities or exclusions under the Termination Agreement.

2. The results of the initial assessment shall be used to prepare the scope of work for the field evaluation and to identie additional target areas for field sampling The objective of the field evaluation will be to conduct a focused sampling program at the three generating facilities to evaiuate the

Sch. 15.1-1 OHS Eas!:160168513 9

Page 601 of 622

presence o r absence of cnvironmcntal concerns The scope of the initial assessment shall be determined in the sole discretion of Rig Rivers.

FIELD EVAL,UATION AND PRELIMINARY TARGET AREAS FOR FIELD SAMPLING

1. The field evaluation shall consist of the extraction of samples required to assess issues believed by Big Rivers to have been identified in the initial assessment, which may require the installation of monitoring wells via drill rig methods, the advancement of soil borings via geo-probe and hand-auger methods, sediment sampling, and the collection of ground wakr samples from new and existing wells at the three facilities

2. The preliminary target areas for field sampling shall be those areas subject to sampling as identified in sections 3.2.2, 3.3.2 and 3 4.2 of the Baseline Environmental Audit Report.

3 A11 sampling locations shall be as near as reasonably possible to locations sampled for purposes of the Baseline Environmental Audit Report. However, the identification of target areas for field sampling shall take into account new construction or operating methods that were instituted after July 13, 1998.

4. Sample collection and analytical methods shall be the same methods used for purposes of the Baseline Environmental Audit Report unless new or different methods are specified by applicable regulations

5. Groundwater sampling and analyses shall be performed periodically account for any scasanal changes in groundwater quality.

INCORPORATION BY REFERENCE

1. The Unwind Environmental Audit Report may incorporate by reference any stipulated environmental conditions agreed in writing by the Parties.

2. The Unwind Environmental Audit Report may incorporate by reference any environmental audit or environmental study performed at the three generating facilities by Big Rivers or the WK.E Parties at any time since July 15, 1998, unless otherwise agreed in writing by the Parties

O H S Eas! 160168517 9 Sch. 15.1-2

Page 602 of 622

OHS East:l60168513.9

Schedule 15.4

SECONDARY CONDITIONS

Sch. 15.4-1

Page 603 of 622

IN WITNESS WHEREOF, the Parties hereto have caused this Transaction Termination Agreement to be duky executed by their respective authorized officers as of the day and year first above written.

CORPORATlON

Name: Michael Core Title: President

LG&E ENERGY MAFXETING WC.

BY:-- -- Name: Paul W. Thompson Title: Senior Vice President

WESTERN KENTUCKY ENERGY COW.

By: Name: Paul W. Thompson Title: President

OHS EES: I601 688513.9

Page 604 of 622 - -

Execution F’ersion

GUARANTEE

This Guarantee ( h s “Guarantee”) is made and entered mto as of this 26th day of March, 2007. between (i) RON 1J.S. LLC. a Kentucky Imited iiabilrty company (“E.ON U.S ”), and (ii) Big Rivers Electric Corporation. a Kentucky rural elecmc cooperauve (“Big kvers”) (collectively. the “Parties”)

A. Reference is made to that certain Transaction Termination Agreement of even date herewith (the “Termination Agreement“:) among Big Rivers, Western I.Lentuclq1 E n e r a Corp., a Kentucky corporation (“WC”), and LG&E Energy Marlcetiog Inc., an Okiahoma corporation (“LEM”, and Together with WICEC; the “MXE Pmies”), pursuant to which., among orher transactions, Big Rivers and the W E Parties have agreed to terminate and release certain agreements between or among them and to extin=pish certain properqi interests vested in one or more of t h e q in each case upon the terms and subject to the conditions set forth in the Termination Agreement and, upon the ‘‘Closing” ias d e f i e d in the Termination Agreement), in the other agreements and instruments set forth or identified on Exhibit S attached to the Termination Agreement (the Termination Agreement, and such other agreements and instruments set forth or identified on Exhibit S to the Termination Agreement, being collectively referred to in thx Guarantee as the “Definitive Documents”). For ease of reference, Exhibit S ro the Termination .Agreement has been attached to this Guarantee as Exhibit P, and is incorporated herein by reference and made a part hereof.

-_. R E.@N U.S owns. chectly or mdrrcctlj., all of the v o ~ h g stock o i each TiTLE Party. and will derive substantial benefits fiom the transactions contemplated by the Termmation Agreement. which benefits are hereby acknowledged by E.ON U.S

C . This Guarantee is being execured and delivered by EON US. as a material inducement for the execution and delivery of the Terrnination Agreement by Big bvers? and was a condrtion precedent to the execution and delivery of the Termination Agreement by Big Rivers. This Guarantee consritutes the “E.ON Guaranty” referred to in Section 14.6 of the Termination Agreement.

D. Terms de f i ed in the Defii t ive Documents and used (but not defined) in this Guarantee shall be deemed to have the meaning in this Guarantee assigned to them in the Definitive Documents. The rules of construction set forth in Exhibit A to the Termination Agreement shall apply to t h s Guarantee.

AGREElKENT:

Piow, THEREFOE, the Parties, for valuable consideration, hereby agree as follows:

1. GUARANTEE. Subject to the 1imitations expressly provided for in this Charantee, E.ON US. hereby unconditionaliy guarantees to and for the beneet of Big Rrvers? irs successors and permitted assi-ms, the due and punctual payment: pedorniance and discharge by each V K E Party of its respective present and future obligations to Big k v e r s arising under the Termination Agreement and, upon their execution and delivery by the panies thereto, to Big hvers arising

OHS East:l60183157.E: Page 605 of 622

under the. other Definitive Documents to which that WKE Parry may become a signarory, lfrom and after the respective effective dates of those Definitive Documents, but subject to all of the terms and conditions of the Termination rZgreement and those other Definitive Documents as so executed and deiivered. By way of example and not of limitation, any W E E Parry‘s action in withholding payments owed to Big Rivers under any of the Definitive Documents: based on a WKE Party‘s exercise of a set-off: dispure. resoiutioii? cure or any other right under any of the Definitive Documents: shall not consunite an instance of a failure to perforni that W K E Parties’ obligations for the purposes of this Guarantee. E.ON 1J.S. agrees that if any of the M K E Parties shall fail to perfom when due any of its obligations to Biz Rivers under any of the Derinitive Documents. E.ON U.S will perform. or will cause to be, performed. such obligations iorthwit‘h. The prov%om of thrs Guarantee shall exiend TO and be appiicabie to all r enwak , repiacemenrs: amendments: extensions. consoiidarions and modifications oi an]’ Definitive Document, and ani’ and all references herein to the Definitive Docum.enrs or any of them shall be deemed 10 include any such renewals, replacements, aniendments, extensions, consolidations and modifications thereof and supplements thereto, in each case without consent tqt E,.ON US. (unless such consent is required to be obtained by the terms of the applicable Dtf i i t ive Docunient). This is an unconditional, irrevocable and continuing guarantee in accordance with (and subject to) tn- terms hereof and, subject to the provisions of Section 17 of f h s Guarantee? shall remain in full force and effect and be binding upon E.ON U.S. and its successors until all of the present and future obligations to Big Rivers, its successors or assigns, +maranteed hereunder have been satisfied in fiill, including via termination, expiration, waiver or release.

2. EFFECTWE DATE: APPLICATION TO FUTURE DOCUMENTS. The Parties agree that this Guarantee shall be efr’ective and enforceable from and after the date f ist wntten above. and shall become appiicabie to each Defintive Document as and when such Defimtive Dociment shail nave been fully executed and delivered ’n]’ each intenaed signatory rfiereto (whether contemporaneous with or foIlowmg the execution and delivery of this Guarantee), but not before. ui each case without notice cr fnrtter actio2 02 ihe parr c?f any Parry

fa) L O N US. expressly waives the acceptance of this Guarantee by Big hvers , protest: notice of protest and notice of dishonor or nonpayment of any instrument evidencing any indebtedness of any of the WISE Parties (except in those instances iii which there exists a bona fide right of set off or dxpute as to the liabiliq or obligation of performance for tine applicable W E Party under the provisions of any Definitive Document), any right 10 require the pursuit of any remedies against any of the M7KE Parties, including commencement of suit, before, enforcing this Guarantee, any right to have any security or the right of set off applied before enforcing this Guarantee: ail diligence in collection and enforcement: and any failure or delay by Big Rwers in the protection or exercise of Big fivers’ rights as against any of the wEi% Parties. in each case other than (ij the expiration of any applicable slilmte of limitations, iii) the expiration ofthe right of Big Rivers to seek or compel performance from the applicable WXE Party, g iiii) as described or contemplated in the linlitarions provisions of Section 9 of this Guarantee (but in each such case (i)? iiij or (‘iii), subject to Section 5 of this Guaranry). Before enforcing this Guarantee against E O N 1J.S. (by reason of a default on the pan of a PKE Pam’ under any of the Definitive Docurnents) at any time after E.ON US. has given notice hereunder to Big Rivers that €.OH US. no longer owns (directly or indisectly) at least a ma.iority of the issued and

OHS Eas~:1 GO1 6 3 1 5 Page 606 of 622

outsranding capital stock of that VIrliE Party, Big fivers shall give E O N US. mitten notice of such default: and shall initiate the giving of such notice to E.ON U.S. at the same rime and in the same manner as notice of the, defauit is provided to that MKE Party. E O N U.S. shall be permitted to cwe any default by a WKE Parry wit'nin the rime permitzed b\i the applicable Definitive Document: which c u e period for EON U.S. shall run concurrently with the cure period set forth in the applicable Defiinitive Document.

(b) Other than as set forth in Section 3(al above, E.ON U.S. hereby waives and agrees not to assert or to rake advantage of any dzfense based upon: (i) any incapacity or lack of authority o f E.ON U.S. or any incapacity, lack of authority, death or disability of any other person or emit? (other than Big €hers ) ; (ii) any lack of noricz to mrhich E O N U.S. might be entitled other than pursuant to this Guarantee; (iii) the inaccuracy of any representation by any of the WILE Parties contained in any of the Definitive Documents; (iv) any asserrion or ciaim thzi the automatic stay provided by i l U.S.C. $ 362 (,arising upon the voiuntary or invoiuntary banlu-uptcy proceeding of any of the M 7 I E Parties) or any other stay provided under any other debtor relief law (whether statutoq, common iaw3 case law oi otherwise) of any jurisdiction whatso~vver: now or hereafrer in efr'ect: which may be or become applicable, shall opzrate or be interprered to stay, interciict, condition, reduce or tnhibit the ability of Big Rivers to enforce any rights, whether now existing or hereafter acquired, whch Big Rivers rnay have, against E.014 U.S.; or (v) any action: occurrence; event or matter consented to by E O N US. under Section 4 hereof: under any other provision hereof, or otherwise.

4 . CONSENTS.

(Q) E.ON U.S. consenrs and agrees that renewais and extensions of rime of any obligation; surrender, release, exchange, substitution, dealing with or taking of coliatzra!: modifying any obligations of, taking or release of other guarantors, abstaining from taicing advantage of or realizing upon any collateral security or other -guarantee and any and all other forbearances or indulgences granted by Big Rlvers to any of the W E Parcies may be made: granted or effected by Big Rivers without notice to E O N U.S. and without affecting in any manner E.ON U.S.'s liability hereunder.

(b) Other than as set. forth in Section 3(a) above, the liability of EON U.S. under this Guarantee shall be direct and immediate and not conditional or contingent upon the pursuit of any remedies against any of the WlCE Parties. Ln the event that, on account of the Baniuuptc~~ Reform Act of 1978, as amended, or any other debtor relief law (whether statutory, common law: case law or otherwise) of any jurisdiction whatsoever, now or hereafrer in efr'ec'i: which rnay be or become applicable, any of the WICE Parties shall be relieved of or fail to incur any debt, obligation or liability as provided in the Definitive Documents, E.ON U.S. shall nevertheless be fully liable therefore iu accordance with the terms o f those Definitive Documents,

5. INSOLVENCY PROCEEDINGS. In the event that any of the VrI(E Paties becomes the subject of any insolvency proceedinss: including banlcmptcy, reorganization and receivership, this Guarantee specifically includes any amount paid to Big Rivers pursuant 10 a Definitive Document which Eig Rivers may be required to repay on account of im avoided transfer or preference. Regardless of the performance of the obligations hereby guaranteed, the liability of

Page 607 of 622

€.ON U.S. to Big kvers will continue until 30 days afier the expiration of the longest. of any potentially applicable federal or state sxarute of limitation relating to preferences or fraudulent transfers with respect to any Definitive Document, subject to Section 17 below. Big Rivers shall not be obiipated to file any claim against any of the v\TZ Fanies relating to the obligations hereby guaranteed in the event that any of the W K E Parties becomes subject to such insolvency proceedings, and the failure of Big Rivers so ro iile shall not affect E.ON U.S.‘s obligations hereunder.

6. SURORDMATION OF CLAMS. E.OK U.S. subordinates 5.ON l2.s.’~ clainls againsi any of the W E Panies (inciuding any rights of subrogation and the rights TO papen:? collection, oi enforcement of any presem or fume debt. Iiabiliry or obiigation of any of the. RKE Panies ro E O N US.) to any claims of Big Rivers against any TVKE Pam,. E O N will noi exercise any right it may have by way of subrogation ~ ~ n t i l all obliga~ions tien aue and owing to Big Rivers under the Termination A.greement and any other D e f i t i v e Document have been paid or performed in full.

7 . E.ON US. COT~EN~PTS.

(a) Tfiroughout the tenn of this Guarantee. EON U.S shall preserve and maintam ZII full force and effecr all rights. privileges and franchises necessary for the fuliiliment of its obligations under inis Guarantee. and E ON U.S shall not liquidate. wmd up or cilssolv:: itself. or suffer any liquidanon or chssolution

(b) E O N US. agrees inat if: during the te rn o f this Guarantee: (i) E.ON 1J.S. is in default under any loan agreement or insmment entered into in connection with oi evidencing any E O N US. debt in an aggregate principal amount of $50 million or more (“Material Debt”) and such default enables the holder of such Material Debt or any person acting on such holder‘s benalf to accelerate the maruny thereof and ix) such Material Debt is accelerated as a result of such dgfault or (yj 60 days shall have elapsed during which such defauli shall have continued unremedied and unwaived: or (iij the Tangible %et Worth of E O N U.S. on a consolidated basis shall be less than five hundred million dollars ($500,000.000.00) (as demonstrated by the audited and unaudited financial statements delivered to Big Rivers pursuant to Section 7(c) hereof): E O N U.S. shall within tlzree Business Days afier the occurrence of such event notify Big fivers thereof in writing and, if thereafcer requested in writing by Big Rivers, E.ON U.S. shall, within 60 days of receipt. of Big kvers’ request, provide collateral to Big Fiivers with respect to its obligations under this Guarantee, in the form of cash or an irrevocable letrer of credit (in form satisfactory to Big hvers) from a banlcing ins1itution with a rating of at least k and capital and surplus of at least $500 million, in the amount of $60 million. For purposes of this Section 7(b): the Tangible Net Worth of E.0N U.S. shall be, as of any date o f determination. on a consolidated basis, the aggregate of Members‘ Equity: minus any Intangible Assets and any indebtedness due from members, empioyees or Afgliates. Members’ Equiry shall mean as of any date of determination the consolidated members’ equiry of E O N U.S. as of thar aat-,, determined in accordance with GAiLo; orovided that there shall be excluded from Members‘ Equity any amount amibutable to Disqualified Equiry. Disqualified Equity means my equity interest,s, warrants, options or other rights to acquire equiry ownership which. by its terms (or by the terms of any securiqi into which it is convertible or for which it is exchangeable), or upon the

OHS East:160183157 Page 608 of 622

happening of any event! matures or is mandatorily redeemable, pursuant to a sd&g fund obligation or otherwise: or is redeemable ai the option of the holder thereof, in whole or in pari. Inrangible Assets means assets that are considered intangible assers under GA4P: including customer lists, goodwill, coTrenants not to compete, copyrights, trade names: trademarks and parents. Big Rivers shall release any collateral if provided as a result of an event specified in ciause (i) above, promptly after delivery to Rig hvers of evidence that such defaulr is no longer continuing and, if provided as a result of an event specified in clause (ii) above, promptly afier delivery 10 Big hvers of audrted financial statements of EON US. indicating that E.ON U.S.'s consohdared Tangible - Ner Worth equals at least five hundred million dollars $(500.000,000.00~.

{cj So long as tinis Guarantee remains in effect. E.@N U.S. will deiivsr to Big Rivers copies of (i:) its unaudited financial statements for eacb of fhc first threc fiscal qumers of each fiscal year within 65 days of the end of each such fiscal quarter. (3) its audited financia: sra~ements, exciuciing ioomores for audired financial statements aeiivered prior to Ciosing, h i each fiscal ycar within 1 1 5 days of the end of each fiscal vear and ('iii) all loan agreements and other documents or insmmen-cs relaring to any Material Debt within 30 days of execution t.hereoi by E,.Oi\i US

.... 8. REPRESENTATIONS AND WARRANTIES. LOX 2 . S reuresenrs and warrants 10 Big Rivers that.

8.I E ON U.S is a limited liability company duiy o r g a z e d and ensting under the The execution. delivery and performance of this laws of the Commonwealth of Kentucky

Guaranree by E.ON TJ S have been duly authonzed by all necessaqr action

8.2 This Guarantee is executed at the requesx of each of th: U I I E Parties

8.3 E.ON U.S. has established adequate means of obtaining 6orn eacb of the U K E Parties, on a continuing basis, financial and other information perraining to their affairs or business. and E.ON U.S is and wi11 be familiar with the afYairs. business, operation and condition ofeacn of the %TIE Parries and their assets. E O N U.S. hereby waives any duty on the part of Big Rivers to disclose to E.ON U.S. any matter relating to the affairs, business, operation or condition of any of the v\KE Parties and their assets now luioxm or hereafter icnown to Big hirers during the life of this Guarantee (other than the notice of default from Big hvers contemplated in Section 3(:a) above).

8.4 This Guarantee has been duly authorized. executed and delivered by E.ON 1J.S and constrrutes a legal. valid and bmdmg obligation of E ON U.S.. enforceable agamst E O N 1J.S m accordance with the temx hereof, except as enforceabiliry niaj be lmted b! banlmptcy, lnsolvency, reorgaruzation. arrangement, moratorium of E ON U.S or other laws relatrng to or affecting the nghts of creditors generallSr and by general prrncipies of e p t y

8.5 Neither the si-ging or deiivery of. noi the perfommce 'ny LON U.S of L O N 1J.S.k obligations under. this Guarantee is prohibited by. or will result in a fin:. penalty. or slmilar sancrion under. any appiicabie stamtory law. regulation, or court or admisuative order, wili vioiate any of E.ON U.S s organizational documents. or will breach. or constime an event

Page 609 of 622

of defauli under, any agreement., insnunlent, rnongage, indenmre. or other contract to which E O N U.S. is a party or by whch it or its property is bound-.

8.6 On the date hereof. there is no litigation. claim. action or proceedlng pending or threatened agamsi E ON U.S whch would materially and adversely affect the ability ofE.ON U.S to perfom its obligations hereunder

g.7 E.08 US. has deiivered TO Big Rivers copies o f E.05 U.S.'s audited baiance sheet as of December 3 1. 2005 (without foornotes) and the related audited statements of incorn:, retained earnings and cash fiows for the vear then ended (the "Audited Financial Sraternents":) and (D') €.ON U.S.'s unaudited balance sheet as of September 30. 2006. and the related unaudi-iet statenieni of income for the fixe:-month peiiod then ended (:the "ker im Financial Staternenrs". and together with the Audited Financial Statemenrs, the "Financial Statements"'~. The Financial Statements present fairly in all material respects tile financial position of E.OK 1J.S. as of the dates thereof and the related results of its operations for the period then ended. Th: Audired Financial Statements have been prepared. and the audired financial statements delivered pursuanr to Section 7(c) will be prepared, in accordance with generally accepted accounting principies ( " G A P ) and the Interim Financial Statements have been prepared, and the interim unaudited financial statements delivered pursuant to Secrion 7ic) will be prepared, in accorciance witn GAA.P for interim statements, applied on a basis consistent with prior periods except as disclosed therein. All adjustments, consisting of normal, recurring accruals necessary for a fair presentation, have been made in the lnterini Financial Statements Since September 30, 2006> to the date hereof: there has been no change in the business, Iinancial positioo. results of operations or prospects of E.ON U.S. which would materially and adversely aEect the ability ofE.ON U.S. io perform its obiigarions hereunder.

6.8 All consents, licenses, clearances, authorizations and approvals of? and registrations and declarations with, any govemmenta! authoriry or regulatory bohy necessary for the due execution, cieiiveqr and perfonnance of this Guarantee by €.ON US. have been obtained and remain in full force and effect and all conditions thereof have been duiy complied with, and no other action byq and no notice to or fiiing with. any governmental authority OT regulatory body is required in connection with the ex.ecmion: delivery or performance, of t h s Guarantee by E.ON U S . There are no conditions to the effectiveness of this Guarantee that have not been satisfied or waived.

9 . DEFAULT; LIMITATIONS OW REMEDIES. in t i e event that (i) any representation or warranty made by E,.ON U.S. in this Guarantee shall prove to be incorrect in any marerial respect when made or iii) E,.ON U.S. shall fail to obscrve or perfom any covenan: contained in this Guarantee in any material respect (each. a "Default"). which Default is not cured within 15 days following receipt by E,.ON U.S. of written notice of Default from Big fivers (provided, that there shall be no cure period with respect to any Default described in (i) above, and further provided, no further wrirten notice of Default shall be required where written norice has previously been given to €.ON 1J.S. in accordance with Section 3ia))., Big Rivers shall be entitled ( a ) to seek to collect from E O N US. the damages resulting to Big Rivers from such default and ib) to pursue any or all other rights and remedies avaiiabie to it at law or in equity NOTWITHSTANDING THE. PRECEDING SENTENCE OR AhT" OTHER. PROVISION OF T H E GUARANTEE TO T E C0NTRAR.Y: AND EXCEPT TO THE EXTENT SUCH

OHS Easr: 1601 63 157

Page 610 of 622

DAM.4GES #iR€ EXPWSSL,I’ PERMITTED TO BE RECOVERED BY- BIG RIVERS FROM ,4hT MrKE PARTY BY TKE TERMS OF A DEFINITIVE DOCUMENT. BIG RlTrERS SH.4LL NOT AT Ah?’ TIME BE ENTITLED TO RECOVER FROM E.ON U.S AbT INCIDENTAL. CONSEQUENTIAL; PUNITIVE. EXEMPLARS OR SPECIAL DAMAGES OR OTHER SIMILAR RELIEF (INCLUDING LOST PROFITS OR LOST BUSNESS OPPORTUNITY) IN ADDITION TO THE LIMITATIONS PROVIDED R\I TKE PRECEDING SENTENCE, THE RIGHT OR ENTITLEMENT OF BIG RIVERS TO SEEK RECOVERY OF DAMAGES OR OTHER RELIEF FROM E ON 1J.S PURSUANT TO THIS GU.M&TTEE SHALL BE SUBJECT TO ANJi .4ND ALL LIMITATIOKS .4ND

B1G RIVERS’ PJGHT OR ENTITLEMENT TO F3COiFX FROM THE RELET.AI.TT W-KE PARTY OR PARTIES PUP.SUB?qTTT TO THE RELEVANT DEFIl~ITT\rE DOCUIviElW‘S j .

INCLIJDING ANS’ L,IMITIITIONS TH4T hULJ’ BAR BIG RIVERS‘ CL4I1\/1 OR RECOVERY B’i’ REASON OF THE PASSAGE OF TIME €1’ WAY OF EXAMI’LE AND NOT OF LIMITATION, THE LIMITATION ON BIG RIVERS’ PJGHTS OF FSCOVERY OF DAM4GES AND/OR OTHER RELIEF PROVIDED FOR IX SUESECTIOK I d 403) OF TEE TEP!INATION AGREEhENT SHALL APPLY MOTH EQUAL EFFECT TO LIMIT BIG RIVERS’ RIGHTS OF RECOVERY FROM E.ON U.S PURSTJANT TO THIS GUARANTEE. AND ANI’ DAMAGES OR OTHER AMOUNTS SO F?..ECOVEP?D EI’ BIG WEP,S FROM .4NSIV\KE PARTY. ON THE ONE HAND. OR E O N U.S.. ON THE OTHER HAND. SHALL BE COMBINED FOR PURPOSES OF DETERMINING WHETHER THE LIMITATION CONTEMPLATED Lh’ THAT SIJBSECTION 16.4Cb) HAS BEEK REACHED

EXCLUSIONS ON SUCH RECOVERY OR RECOVEFXES AS M4l- BE APPLICAE3LE TO

10. COSTS. The prevailmg Party m the trial 01 appeal of any civil action, lnsolvenq proceeding, UT arbihation proceedmg to consme or enforce this Guziantee or to &fend ~ ~ j r

clams. offsets. deienses. counterclaims. and thud parry claims rlnar are asserred under connact, tort. or other common iaw theones will be entitled to recover reasonabie attorney fees ln addrtion to costs and disbmsemem. a d snc!~ fees. ccsts. E Q ~ distm.rsements w d ! bear interest ar i! ra r equal to the “DeI’ault P,ate” (as herelnafies defined) from the date when reimbursement is requested rn mmtmg until the date when such reimbursement is made As used in t h s Guarantee. “Default Rate“ shall mean the lesser of ( a ) 125% of the time-weighted average p m e rate of mterest as reponed from tune-to-rime 111 the “Money Rare” section of The Fall Srr-eei Jour-izal as of the date payment was due. or iii) the maurnurn rare allowed by law

11. AMENDMENT. Tm Guaranree shall not be suspended, amended. released. temnatecl or rnodrfied LU any manner except by an instrument m wnting si-ped by E.ON U.S and Eig Rivers

12. ~ ‘ A I V E R OF DEFAULT. No waiver by Big Rivers of any default of any provision of this Guarantee shall be deemed a waiver of any other pre-exixing or subsequently xisting default: nor shall any such waiver be deemed a cont.inuing waiver. No delay or omission by BiS Rivers in exercising any right hereunder, at law or in equity. or otherwise: except. such dday as would, by the passage of time cause a claim to be barred by an appiicable starure of iirnirations or by the expirarion or termination of the right to pursue or assert the claim or breacii under the Definitive Documems upon which the ciaim under this Guarantee is based. shall impair any such right or be corisnued as 2 waiver thereof, or acquiescence therein, nor shall any singie or parrial

Page 611 of 622

exercise of any right preciude other or further exercise of any right that may exist or that may thereafrer exisr.

13. GOVERNING LAM'. This Guarantee is governed by the substantive provisions (that 1s. witnout regard for the rules for conflicz of laws) of the law of the Conmonwealth of Kentucky.

14. JURISDICTION AND VENUE. Any legal action or proceedmg with respect to this Guaranree may be brought rn the Umted States Disrnct Courr ior the Western D l s n c ~ oi Kenmckq. and, by execution and delivery of ttus Agreement. Big kvers and E.Ol\i U S consent to the nonexclusive lunsdiction of tnar court. Eacb of the Parties waives anj' ob1ecrior:. mcluding an^^ obiecrioii to venue or based upon foruni non convemeiis. which it ma\ now or hereafrer have to th:: bnnging of anii amor, or proceedmg ID such prisaicuoii

E. NGTICE. All notices, payments md other conmiunications to either Pa137 uide: this Guarantee must be in writins and shall be addressed respectivelji as follows:

Big h v e r s Electric Corporation 201 Third Street P . 0 Box34 Henderson. I< enmclq 424 19 Telephone. (503) 827-2561 Facsimile: (503) 627-3558 Attention. Michael Core

Da17id Spainhoward

V\Jith a conv to:

Sullivan. hdountloj.. Stainback & Miller. PSC 100 St. Ann Buildmg P . 0 Box 727 0 w ensb oro . K ennick y 423 02 -0 777 Attention. .lames M. Miller. Esq. Telephone (502) 976-4000 Facsimile (502) 633-6694

If to E.0N U.S.:

E . 0 N U . S LLC 270 West Main Street P . 0 Box 32030 Louisville. Kentucly 40352 Attention john P, McCall, Esq.. Executive Vice

Teiephone, ( 5 02) 63 7-3 66 5 Facsimile (503) 627-3585

President. General Counsel and Corporate Secretam

OHS East: 1601 S3157

Page 612 of 622

With a CODV to:

Greenebauni Doll 6. McDonald PLLC -3500 National Ciry T O W ~ I 101 South Fifth Street Louisville. Kenmcky 40203 Attention Pamck R Iiortharn. Esq Telephone. (502) 58s-4200 Facsimile (503) 587-.3695

Each Party may change irs address from time to rime by notice given to tine otiner Parq in tfie manner set foi-tf1 above. All norices shall be given iii by personal deijvery to the Party jincluriing overnight delivery if receipt by such p q ’ is confmed) , iii) cenified 01 registered mail, return receipt reyuested: or (iii) by confirmed electronic communication if followed on the sanic dare by registered or cenified mail, return receipt requested. &411 notices shall be efTecrive and shall be deemed deiivered (a) if by personai deiiveq , on tine date of aeiivq.: or fbj if by cerrifieci or registered mail, on the date rieiivered by the United States Postal Service as shown on h e 1-eceipr or (c) if by electronic communicarion. on the aate the coniiirmation is delivered t o the United States Post,al Service, as shown on the receipt.

16. ASSIGNMENT. % Guarantee may not be assigned by E O N 1J.S. Big Rivers m a y assign its interest iU this Guarantee to any person who is a permitted assine:: pursuant to and in the manner required by Section 1 8 3 of the Termination Agreernenr.. Ljpon any uansfer or assi-ament by m y %KE P a q of its rights and obligations under the Definitive Documents: ir, accordance with Section 1s.: of the Terminanon Agreement, this Guarantee shall continue in h l l force and effect. Notwithstanding anything in this GuaranIee or any other Definitive Document to the contrary, and except to the extent Big hvers has released E O N US. from such Iiabikies and obligations, following any perrnitted transfer or assi-ment by a %KE Parry pursuant to Section IS..? of the Termination Agreemenr, this Guarantee shall continue in full force and effect and apply to the iiabilities and obligations of the assignee assumed from that MrIcE: Party, regardless of whether such transfer or assi-merit effected a release. by Big Rivers of the applicable W I a Parry. For purposes of the preceding sentence, “assignee” shall iiiciude any successor Cpursuant to a merger, consoiidarion or otherwise) or transferee of a M K E Party.

17. EXPIRATION; TERMINATION.

(a) Norwithstandmg anmlng contamed 111 this Guarantee or in any otner Def i t lve Document to the contrary, this Guarantee shall immediately explre and become null and void and of no further force or effect whatsoever. and E O N TIS shall be fully released and discharged of and from any m h e i obligation or Tiabilrry ro Big RJvers hereunder. without notict or further action on the part of any Party (a) on the fifth f5”) amversani of thf: dare of this Guarantee. m tne evenr the ‘‘Closm_~” contemplated in the Termination Agreement shall not have occurred on or before that amversary dare. or r0) m the event the Closing conternplated in the Temnarion Agreement shall have occurred, on the rwelfXi Il2”) anniversan of the “Unwmd Closing Date” contemplated LII thc Ternmanon Agreement (the r elevan-i anniversaq‘ aate contemplated in (a) or fb) above bemg referred to 111 this Guarantee as the “Explrarion Date”).

OHS East: 1601 S3157

Page 613 of 622

provided, however: thar in fie event, prior to the Expiration Dare: ( i j a MKE Party shall fail to perforni when due any obligation to Big h v e r s guaranteed by h s Guarantee pcJ iii:) Big Bvers shall assert a claim in writing with respect to that failure to perlorn in accordance with this Guarantee: demanding the performance of that ohligation by E O N US. pursuant to this Guaranree: then that claim on the part of' Big Rrvers shall survive the Expirazion Date and shall conrinue to be binding on E.ON TJS. in accordance with the t e r n of this Guarantee until satisfied or discharged in full by or on behalf of E.ON US. or the relevant Mq<E Parry

(b) In addition to the provisions of Subsecrion (a) above, t h s Guaranree snall terminate and become null and void and of no ISlrtner force or effecr whatsoever U D O ~ the latz to occur of. (a) t h e expiration oi tile statute of iimirarions or other agreed (t7 2 Definitive Document) period pursuant to or' during which Bi.g h v e r s may pursue a claim OT acrioii a.gaiust E O N U.S. or any WIZ Pary io: any permitred assi,snee or' 2 v\KE Party) under this Guarantee and each Definitive Docunient; (b) if a claim snali have been made or action shall have been taken against E.ON U.S. mdei t h s Guarantee or against anv W K E Parry (or any permitred assignee of a %KE P q l j uncia an~7 Defhirivz Docunieni within tile appiisabie srarurz of iirnitations and. as applicable. wifnin the reievani period permiEed by such Dcfinirive Docun~et~i. then the date upon which the final, unappealable resolution of ali such claims and actions occurs and E.QN U.S.'s obligarions under this Guaranrez with respeci to such claims nave been fulfilled.

(c) Notwithstanding anything contained in tkts Guaranre:: or any Definitive Document to the contrary. neither L O N U.S. nor any of the M K E Parries snall ai any tinip be enritled to terminate: cancel or otherwise nullif-si this Guarantee or the payment or performance obligations ofE.ON U.S. hereunder by reason of any breach or default by Big _Rivers mder any of the Defii t ive Docments? or by reasoii of tile expiration GI' termination of any or' tile Def i t ive Documents (other than this Guarantee:) for any reason, to the extent flat any of the M K E Parries have any cominuing obligarions or iiabiliries to Eig Rivers under those Definirjve Documenrs (including where any other Definitive Document expressly provides E,.Ol\i U.S. OT

any of the %%E. Parties with the right to rerrninate all or any porcion of the DefiniIjve Documents under the circumstances described therein, but one or more obligarions or liabilities of a MKE Party to Big Rivers under such Defiixive Document(s) survive that remzination').

18. MISCELLANEOUS. This Guarantee will brnd and mure to the benefit ofE.ON U.S and Big €hers and thelr respective successors and permitted assqns T h s Guarantee may be signed m one or more counterparts

19. INTEGRATION. This wriring constitutes the entire agreement of the Parties with respeci ZD the subject matter hereof, and supersedss any and all prior or contemporaneous agreemenrs or unaerstandvlgs with respect to the subject matcer hereof. whether oral OT wnReri

Page 614 of 622

WITNESS the signatures of the undersigned as of the date first written above.

IJS-EAST:160183157 6 -1 I - Page 615 of 622

WITNESS the signatures of the undersigned as of the date first written above

BIG RTVERS ELECTRIC COWORATION E O N u s . LLC

B Jr Michael CorE:

ITS President

OHS East:1601S3157

Its Senior Vice President

Page 616 of 622

FIRST AMENDMENT TO TRANSACTION TERMINATION AGREEMENT

THIS FIRST AMENDMENT TO TRANSACTION TERMINATION AGREEMENT (“First

Amendment”) is made and entered into as of this 1st day of November, 2007 by and

among RIG RIVERS ELxCTRIC CORPORATION (“Big Rivers”), L,G&E ENERGY

MARKETING INC. (“LEM”), and WESTERN KENTUCK\’ ENERGY Cow. (“WKEC”)

(collectively, the “Parties”).

A. Reference is made to the Transaction Termination Agreement dated as of

March 26, 2007 (the “Terrnination Agreement”), by and aniong the Parties, pursuant to

which, among other transactions, the Parties agreed to terminate certain property interests

and contractual relationships between LEM and WUX, on the one hand, and Big Rivers,

on the other hand, at the “Closing” (as defined therein) and upon the terms and subject to

the conditions set forth therein.

El. The Parties now desire to aniend the Termination Agreement in the

manner set forth in this First Amendment.

AGREEMENT:

Now, THEREFORE, in consideration of the premises and for other valuable

consideration, the receipt of which is hereby acknowledged, the Parties agree as follows,

effective imediately:

1. AMENDMENT TO SECTION 8.2. Consistent with the second sentence of

Subsection 8.2(a)(ii) of the Termination Agreement, Section 8.2 of the Termination

Agreement is hereby amended to substitute Schedule 8.2 attached to this First

Amendment for and in place of the Schedule s.2. referred to in Section 8.2 of the

Termination Agreement and attached to that agreement

2. AMENDMENT TO SECTION 8.3. Consistent with the second sentence of

Subsection 8.3(b)(ii) of the Termination Agreement, Section 8.3 of the Termination

Page 617 of 622

L

Agreement is hereby amended to substitute Schedule 8.3 attached to this First

Amendment for and in place of the Schedule 8 2 referred to in Section 8.3 of the

Termination Agreement and attached to that agreement.

3. AMENDMENTS TO SECTION 12.2. The first sentence of Subsection

12.2(a)(vi) of the Termination Agreement is hereby amended to be and read in its entirety

as follows:

“During 2007 and 3008, and provided Big Rivers funcis the ”aig Zvers

Contributions for 2007 and 2008 in accordance with the relevant

Operative Docunient(s), WKEC shall spend not less than ninety percent

(goo/$) of the cumulative total of the anounts (collectively, the “Sclzedubd

A~zoziizts”) set forth on Schedule 12.2(a)(vi) through and including the

Closing Month (pro-rated as contemplated below) for Non-Incremental

Capital Costs and Henderson Non-Incremental Capital Costs.”

In addition, Schedule 13.2(a)(vi) attached to tlxs First Amendment is hereby substituted

fer m d in place cf Schedule E.Za)(-& refzned to in Subsecrion i2.2(a)(vi) of t‘he

Termination Agreement and attached to that agreement.

4. AMENDMENT TO SECTION 17.1. Section 17.1 of the Termination

Agreement is hereby amended to delete all references therein to “September 30, 2007,”

and to substitute therefor “April 30, 2008.”

5. REAFFIRMATION. Except as amended or modified by this First

Amendment, the Termination Agreement shall continue in full force and effect from and

after the date hereof in accordance with its terms.

[Signatures appear on the following page]

7 Page 618-of 622

WITNESS the signatures of the undersigned as of the date first written above.

BIG RIVERS ELECTRIC CORPORATION

Nam& -Michael H. Core Title: President/CEO

By: /a - Name: Y

Title:

71 80854-1 .doc

3 Page 619 of 622

Schedule S.2

LEASED GENERATOR SO? ALLOWANCES

Closing Year Month SO? Allowances

January, 2008 February March April

June

August S eptenib er October November December

May

July

5,069 4,632 1,349 2,741 2,747 2,811 4,839 4,940 2,594 3,047 2,957 3,067

The allowance mounts set forth above do nor include SO-, Allowances allotted to Station Two.

Sch. 8.2-1 Page 620 of 622

Schedule 8.3

LEASED GENERATOR NOx ALLOWANCES

NOx Allowances Based Closing Year On Agreed Forecasted

Month Emissions

May, 2008 June July August S eptemb er

65 1 792 92 1 913 68 1

The allowance amounts set forth above do not include NOx Allowances allotted to Station Two.

Sch. 8.3-1 Page 621 of 622

Schedule 12.l(a)(vi)

NOIV-INCREMENTAL CAPITAL EXPENDITURES

Closing Year Month

Jaiuary, 2007 February MoJch April May June July August September October November December January, 2008 February March April

June July August September October November December

May

Non-Incremental Capital Expenditures

(sa

49,000 972.500

4,O15,100 2,335,000 6,038,000 2,606,300 1 ,560,300 2,414,500 1,047,500 2,865,500

121,500 156,000

6,334,500 3,5 19,167 5,240,500 2,045,667 3,593,000 1 , 9 4 3 ~ 17 1,942,300 2,024,267

281,500 67,665

1,152,500

475,667

Sch. 12.1 (a)(vi) Page 622 of 622

E 1 ec t 1- i c C o L-IJ o 1- a t i o 11

December 4. 2007

LG&E Energy Marketing Inc. cio E O N U.S. LLC 320 West Main Street L,ouisvilie: ICY 40203 Atrn Presideci

L,adies and Gentlemen:

Reference is made to the First kmencirnent to Tyansaction TerminaIior? Agreemar. datec! November 1, 2007. among the undersigned, LG&Z imxgy Marleting Inc. and Wes.tm Kentucky Energy Corp. (the "Ameridment").

-

Please bz advised that we nave noted an inaatwtsnt TOT in the text of the Anencimeni. I h e caption of the schedule of l~on-incr~nieiital Caui-cal Expendimres ro t k .4men,inieni mistakenlJ- identifies ir as Schedule l?.l(z)vi). wiiereas Section 3 of the Amendment r e f a IC) Schedule 122(a)(vi). which corresponds to the intent of the parciss to the Anienanienr.

By signing ana retuniins to us a counterpan of this leker. you apree ni th the undersigned that the schedule attached to the Amendment and idenrified as Schedule 12.1(z)(vij is, for all intents and purposes of the kniendment, the Schedule i2.2a)fvi) referred to rn Section 3 of -die Amendment I

President, Western Kentucky Energy Corp. President, LG&E Energy iviaricedng 11ic. December 4, 2007 Page Two

If you are in agreement with the above, please sign in the space below and return a signed copy to our attention. Thank you for your assistance.

N a d : Michael E. Core Title: PresidentCEO