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MODIFICATION NO. 1

TO

AT (49-18)-14

MODIFICATION NO. 1

ΤΟ

CONTRACT BETWEEN

UNITED STATES OF AMERICA

AS REPRESENTED BY

THE UNITED STATES ATOMIC ENERGY COMMISSION

AND

BREEDER REACTOR CORPORATION

This Modification No. 1 is entered into by and between the United States of America (hereinafter "Government") as represented by the United States Energy Research and Development Administration (hereinafter "ERDA"), and Breeder Reactor Corporation (hereinafter "BRC").

WHEREAS the Government, as represented by the

United States Atomic Energy Commission and BRC heretofore have entered into Contract No. AT (49-18)-14, effective as of July 25, 1973 relative to a cooperative arrangement among the United States Atomic Energy Commission (hereinafter "AEC"), Tennessee Valley Authority (hereinafter "TVA"), Commonwealth Edison Company (hereinafter "CE"), Project Management Corporation (hereinafter "PMC") and BRC for effecting the design, development, construction, testing and operation on an electric utility system of a Liquid Metal Fast Breeder Reactor (LMFBR) power plant, as contemplated by Section 106 of Public Law 91-273, as amended (hereinafter the "Project"); AND WHEREAS, under a recent Government reorganization, the United States Energy Research and Development Administration (hereinafter "ERDA"), has succeeded to the nuclear energy development functions formerly vested in AEC;

AND WHEREAS, ERDA, TVA, CE and PMC are entering contemporaneously into Modification No. 1 to Contract No. AT (49-18)-12 governing the arrangements by which the Project will be managed;

AND WHEREAS, the parties hereto believe that said Modification No. 1 to Contract No. AT (49-18)-12 renders appropriate certain modifications in Contract No. AT (49-18)-14 heretofore entered into by them.

NOW, THEREFORE, IN CONSIDERATION of the foregoing and of the promises hereinafter set forth, the parties hereto agree that Contract No. AT (49-18)-14 shall be modified in its entirety by substituting there for the Agreement set forth below in Part I of this Modification No. 1. Such Agreement between the parties, as set forth in Part I below,

shall become effective on the Effective Date, as defined in Part II of this Modification No. 1.

PART I

AGREEMENT

BETWEEN

UNITED STATES OF AMERICA

AS REPRESENTED BY

THE UNITED STATES ENERGY RESEARCH

AND DEVELOPMENT ADMINISTRATION

AND

BREEDER REACTOR CORPORATION

This Agreement is entered into by and between the United States of America (hereinafter referred to as "Government"), as represented by the United States Energy Research and Development Administration (hereinafter "ERDA"), and Breeder Reactor Corporation (hereinafter "BRC"), a nonprofit corporation organized and existing under the laws of the District of Columbia, shall be effective on the Effective Date, as defined in Part II of this Modification No. 1.

This Agreement is entered into contemporaneously with the execution of Modification No. 1 to Contract No. AT (49-18)-12 (hereinafter referred to as the "ERDA Agreement") among ERDA, Tennessee Valley Authority (TVA), Commonwealth Edison Company (CE) and Project Management Corporation (PMC), and Modification No. 1 to the contract between PMC and BRC described in paragraph I. below (hereinafter the "PMC-BRC Contract").

The parties hereto agree as follows:

I. BRC agrees that it will carry out its undertakings under the ERDA Agreement and the PMC-BRC Contract which provides, inter alia, for the collection and remission of funds contributed to the Project by the utility industry.

II. BRC shall give ERDA reasonable notice of, and the opportunity to attend, its Directors' meetings as an observer, and shall otherwise keep ERDA generally informed of its activities with relation to the Project.

III.

BRC shall afford ERDA reasonable opportunities

to consult with BRC upon ERDA's request.

IV. BRC represents that this Agreement, the PMC-BRC Contract, and the utility agreements referenced therein to which BRC is a party, constitute all of the major commitments made directly by BRC in relation to the Project, except for representations to the Internal Revenue Service and the Securities and Exchange Commission, in connection with applications for tax and securities rulings, and the Articles of Incorporation and Bylaws of PMC and BRC.

V. BRC shall not cause nor permit the PMC-BRC Contract or any Contribution Agreement to be amended or modified during the Project term, without the prior written approval of ERDA. There will be no rights of termination of the Project other than those set forth in paragraph 11.0 of the ERDA Agreement which are incorporated herein by reference.

VI. This Agreement and the PMC-BRC Contract shall be construed to be consistent with the provisions of the ERDA Agreement, and ERDA's rights and obligations as provided for in the said ERDA Agreement shall not be subject to construction in the light of the provisions of any agreement between or among any of the Project participants with respect to the Project to which ERDA is not a direct contracting party.

VII. In addition to the foregoing, the General Terms and Conditions set forth in Appendix A attached hereto shall be applicable to this Agreement.

PART II

EFFECTIVE DATE

Part I of this Modification No. 1 shall become effective upon the Effective Date of Modification No. 1 to Contract No. AT (49-18)-12 among ERDA, TVA, CE and PMC.

IN WITNESS WHEREOF, the parties have executed

this Modification No. 1 this

day of

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