Agenda - 02-03-2009 - 6b - Laserfiche WebLink

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• 105 Environmental Benefits under this Agreement (the "Adjustment for Other Environmental Benefits"). The Parties shall jointly retain the Carbon Price Consultant,beginning on or about the date that the flare becomes operational, and the Parties shall share equally all fees and expenses payable to the Carbon Price Consultant. 122= 423:-Emission Allowance Price Adjustment. The Parties acknowledge that the Flare and Conversion Percentages have been established,in part,based on the Forecasted Carbon Prices set forth on Exhibit A. Any adjustment in the Flare and Conversion Percentages pursuant to this Paragraph shall be based on a comparison of the Average Allowance Market Prices and the Forecasted Carbon Prices performed pursuant to a methodology(the "Emission Allowance Price Methodology")developed in accordance with the provisions of this Paragraph by the Carbon Price Consultant. No adjustments to the Flare Percentage or the Conversion Percentage shall be made (i)prior to 2015,or(ii)in any month during the Term of this Agreement in which a Cap-and-Trade System has not been enacted under federal legislation in the United States. a. Emission Allowance Price Methodology. Not later than one hundred eighty days (180) before the first month in which an adjustment is made under this Paragraph 123,122, the Parties shall direct the Carbon Price Consultant to develop a methodology meeting criteria mutually acceptable to the Parties that shall permit the Parties to perform a comparison of the Average Allowance Market Prices and the Forecasted Carbon Prices by reference to (i) data showing the prices at which Emission Allowances were purchased and sold in the regulated carbon market established in the United States under federal legislation enacting a Cap-and-Trade System, and (ii) such other information that the Carbon Price Consultant determines is customary and reasonable in the carbon consulting industry. The {00022477.DOC}