Common use of Payment and Determination of Value Clause in Contracts

Payment and Determination of Value. Dynegy shall pay to the Employee the value of a Phantom Stock Unit in cash not later than thirty (30) days immediately following the date such unit is scheduled to become vested under Section 2(b) below and such Phantom Stock Unit shall thereafter be treated as redeemed for purposes of this Agreement. Each Phantom Stock Unit shall have a value equal to one share of Dynegy’s common stock, $0.01 par value per share, on its vesting date.

Payment and Determination of Value. Dynegy shall pay to the Employee the value of a Phantom Stock Unit in cash not later than thirty (30) days the second payroll day immediately following the date such unit is scheduled to become vested under Section 2(b) below and such Phantom Stock Unit shall thereafter be treated as redeemed for purposes of this Agreement. Each Phantom Stock Unit shall have a value equal to one share of Dynegy’s Class A common stock, $0.01 par value per share, on its vesting date.