Common use of PARTICIPANT INCENTIVE Clause in Contracts

PARTICIPANT INCENTIVE. The IESO will, subject to the terms and conditions of this second amended and restated participant agreement (the “Agreement”) and the Application, pay to the Participant a Participant Incentive for the implementation of the Measures in each Project described in the Application and approved by the IESO in a Pre- Approval. In addition to the other provisions hereof, payment of the Participant Incentive is subject to and conditional upon the following terms and conditions: a) the Participant will implement each of the Projects described in the Application by each Project’s project completion date provided in the Application and in no event after July 31, 2022 December 31, 2022 unless otherwise approved in writing by the IESO in its absolute and sole discretion. For certainty, any extension beyond July 31, 2022 December 31, 2022 not expressly consented to in writing by the IESO shall be null and void and of no force or effect; b) the Participant will provide the IESO with the Post-Project Submission. For certainty, the IESO may reject Applications where it has determined that the Project’s Eligible Costs are beyond reasonable standard industry costs as determined by the IESO at its sole discretion; c) the IESO will have the right in its absolute discretion to decide whether or not to accept or approve the evidence provided pursuant to the Post-Project Submission; and d) the Participant will submit an invoice to the IESO for the Participant Incentive after the approval of the Post- Project Submission by the IESO. For greater certainty, no additional Participant Incentive will be paid for Measures that were not included in the Application.

PARTICIPANT INCENTIVE. The IESO will, subject to the terms and conditions of this second amended and restated participant agreement (the “Agreement”) and the Application, pay to the Participant a Participant Incentive for the implementation of the Measures in each Project described in the Application and approved by the IESO in a Pre- Pre-Approval. In addition to the other provisions hereof, payment of the Participant Incentive is subject to and conditional upon the following terms and conditions: a) the Participant will implement each of the Projects described in the Application by each Project’s project completion date provided in the Application and in no event after July 31, 2022 December 31, 2022 2021 unless otherwise approved in writing by the IESO in its absolute and sole discretion. For certainty, any extension beyond July 31, 2022 December 31, 2022 2021 not expressly consented to in writing by the IESO shall be null and void and of no force or effect; b) the Participant will provide the IESO with the Post-Project Submission. For certainty, the IESO may reject Applications where it has determined that the Project’s Eligible Costs are beyond reasonable standard industry costs as determined by the IESO at its sole discretion; c) the IESO will have the right in its absolute discretion to decide whether or not to accept or approve the evidence provided pursuant to the Post-Project Submission; and d) the Participant will submit an invoice to the IESO for the Participant Incentive after the approval of the Post- Project Submission by the IESO. For greater certainty, no additional Participant Incentive will be paid for Measures that were not included in the Application.

PARTICIPANT INCENTIVE. The IESO will, subject to the terms and conditions of this second amended and restated participant agreement (the “Agreement”) and the Application, pay to the Participant a Participant Incentive for the implementation of the Measures in each Project described in the Application and approved by the IESO in a Pre- Pre-Approval. In addition to the other provisions hereof, payment of the Participant Incentive is subject to to, and conditional upon upon, the following terms and conditions: a) the Participant will implement each of the Projects described in the Application by each Project’s project completion date provided in the Application and in no event after July 31, 2022 December 31, 2022 2025 unless otherwise approved in writing by the IESO in its absolute and sole discretion. For certainty, any extension to the Project’s project completion date beyond July 31, 2022 December 31, 2022 2025 not expressly consented to in writing by the IESO shall be null and void and of no force or effect; b) the Participant will provide the IESO with the Post-Project Submission. For certaintySubmission no later than 6 months following receipt of a Pre-Approval (or any other deadline for Post-Project Submission as may be communicated in writing to the Participant), failing which, the IESO may at its sole discretion declare the Pre-Approval and the underlying Application null and void; c) the IESO will have the right to reject Applications where it has determined that the Project’s Eligible Costs are beyond reasonable standard industry costs costs, as determined by the IESO at its sole discretion; cd) the IESO will have the right right, in its absolute discretion sole discretion, to decide whether or not to accept or approve the evidence provided pursuant to in connection with the Post-Project Submission; e) the Participant will submit an invoice to the IESO for an Advance Incentive (if applicable) after the receipt of a Pre-Approval from the IESO; and df) the Participant will submit an invoice to the IESO for the Participant Incentive after the approval of the Post- Post-Project Submission by the IESO. For greater certainty, no additional the IESO will not pay any Participant Incentive will be paid for Incentives in respect of any Measures that were not included in the Application.

PARTICIPANT INCENTIVE. The IESO will, subject to the terms and conditions of this second amended and restated participant agreement (the “Agreement”) and the Application, pay to the Participant a Participant Incentive for the implementation of the Measures in each Project described in the Application and approved by the IESO in a Pre- Pre-Approval. In addition to the other provisions hereof, payment of the Participant Incentive is subject to to, and conditional upon upon, the following terms and conditions: a) the Participant will implement each of the Projects described in the Application by each Project’s project completion date provided in the Application and in no event after July 31, 2022 December 31, 2022 2025 unless otherwise approved in writing by the IESO in its absolute and sole discretion. For certainty, any extension to the Project’s project completion date beyond July 31, 2022 December 31, 2022 2025 not expressly consented to in writing by the IESO shall be null and void and of no force or effect; b) the Participant will provide the IESO with the Post-Project Submission. For certaintySubmission no later than 6 months following receipt of a Pre-Approval (or any other deadline for Post- Project Submission as may be communicated in writing to the Participant), failing which, the IESO may at its sole discretion declare the Pre-Approval and the underlying Application null and void; c) the IESO will have the right to reject Applications where it has determined that the Project’s Eligible Costs are beyond reasonable standard industry costs costs, as determined by the IESO at its sole discretion; cd) the IESO will have the right right, in its absolute discretion discretion, to decide whether or not to accept or approve the evidence provided pursuant to in connection with the Post-Project Submission; e) the Participant will submit an invoice to the IESO for an Advance Incentive (if applicable) after the receipt of a Pre-Approval from the IESO; and df) the Participant will submit an invoice to the IESO for the Participant Incentive after the approval of the Post- Post-Project Submission by the IESO. For greater certainty, no additional Participant Incentive will be paid for Measures that were not included in the Application.