Exhibit 10.1
Generation Purchase Right Agreement
Purchase Right Extension Agreement
Dated March 26, 2005
The undersigned, authorized representatives of KeySpan Corporation and the Long
Island Lighting Company d/b/a LIPA, hereby agree to extend the option period
under the terms of the Generation Purchase Right Agreement ("GPRA") until
December 15, 2005. Under no circumstances will this option be extended beyond
December 15, 2005.
It is agreed that during this time period the parties will work in good faith to
resolve various issues including a possible settlement under the GPRA with terms
and conditions acceptable to both parties as well as other issues which may
impact the future of both companies going forward, including KeySpan's future
relationship and contracts with LIPA.
LONG ISLAND LIGHTING COMPANY d/b/a LIPA
By: /s/ Xxxxxxx X. Xxxxxx
Name: Xxxxxxx X. Xxxxxx
Title: Chairman
KEYSPAN CORPORATION
By:/s/ Xxxxxx X. Xxxxxx
Name: Xxxxxx X. Xxxxxx
Title: Chairman & CEO
