Common use of Exhibit B: MRO Governance Structure Clause in Contracts

Exhibit B: MRO Governance Structure. 264. NERC, in its transmittal letter, asserts that MRO’s governance structure satisfies the requirements of FPA section 215 because, among other things: (i) MRO will have a balanced stakeholder board, in which no two sectors can determine or control the outcome of a decision; and (ii) MRO is not a user, owner, or operator of bulk-power system facilities. NERC and MRO also represent that the MRO Delegation Agreement satisfies the Governance Criteria set forth in Exhibit B of the pro forma Delegation Agreement. MRO’s governance structure is established under its bylaws (MRO bylaws), which are included in NERC’s submittals as supplementary information.