Exhibit 10.1
LETTER AMENDMENT TO
OPTION AND PURCHASE AND SALE AGREEMENT
LETTER AMENDMENT, made as of December 11, 2006, to the Option and Purchase
and Sale Agreement, dated as of January 1, 2006 (the "Agreement") by and between
KeySpan Generation LLC ("Genco") and Long Island Lighting Company d/b/a LIPA
("LIPA"). Capitalized terms used herein shall have the meanings given to them in
the Agreement unless otherwise defined herein.
1. Inasmuch as the conditions precedent to the Effective Date set forth in
Section 7.11 of the Agreement have no yet been satisfied, the parties hereto
have agreed that it would be appropriate to extend the Expiration Date of the
Option. Accordingly, the parties hereby agree that Section 2.3 of the Agreement
is amended to read in its entirety as follows:
"Section 2.3 Exercisability. Subject to the further terms of this
Agreement, the Option shall become accessible at any time after January 1, 2006.
The Option shall expire and cease to be exercisable at 3:00 p.m. on the later of
(a) December 31, 2007 or (b) 180 days following the Effective Date."
2. This Letter Amendment shall become legally binding and effective on the
Effective Date of the Agreement.
3. In all other respects, the Agreement shall remain unchanged.
IN WITNESS WHEREOF, the parties have executed this Letter Amendment as of
the date first above written.
KEYSPAN GENERATION LLC
By: /s/Xxxx X. Xxxxxx, Xx.
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Secretary
LONG ISLAND LIGHTING COMPANY
d/b/a LIPA
By: /s/Xxxxxxx X. Xxxxxxxx
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General Counsel
