Mirant Corporation Compensation Confirmation Letter to Robert Gaudette (November 19, 2010)
Mirant Corporation confirms the compensation terms for Robert Gaudette upon the effective time of his employment with RRI Energy, Inc., as outlined in a prior offer letter. The agreement specifies an annual base salary of $350,000, a short-term incentive target of 55%, and a long-term incentive of 130%. These terms only become effective if the merger between Mirant Corporation and RRI Energy, Inc. is completed; otherwise, the letter has no effect.
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Exhibit 10.2.49B
[Mirant Letterhead]
November 19, 2010
Robert Gaudette
1155 Perimeter Center West
Atlanta, GA 30338
Dear Robert:
The purpose of this letter is to confirm your compensation, upon the Effective Time, referenced in your offer letter provided by Julia Houston, dated April 11, 2010, on behalf of Mirant Corporation (the "Company") for employment with RRI Energy, Inc. ("Parent") effective upon the Effective Time (as defined under the Agreement and Plan of Merger by and among the Company, Parent and RRI Energy Holdings, Inc., dated as of April 11, 2010 (the "Merger Agreement"). This letter will be of no force or effect if the Merger Agreement terminates before the Effective Time.
- •
- Annual Base Salary: $350,000
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- Short-term Incentive Target: 55%
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- Long-term Incentive: 130%
| Very Truly Yours, | ||
/s/ KEVIN BOUDREAUX Kevin Boudreaux VP Administration |
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- Exhibit 10.2.49B
