BROOKFIELD RENEWABLE PARTNERS L.P. SECOND AMENDMENT TO THE THIRD AMENDED AND RESTATED MASTER SERVICES AGREEMENT
Exhibit 4.4
SECOND AMENDMENT TO THE
THIRD AMENDED AND RESTATED MASTER SERVICES AGREEMENT
THIS AMENDMENT (the “Amendment”) to the Third Amended and Restated Master Services Agreement, dated as of May 11, 2020 (the “Agreement”) among Brookfield Asset Management Inc., Brookfield Renewable Partners L.P. and others is made as of the 3rd day of February, 2022 by the undersigned. Capitalized terms used but not defined herein shall have the meanings set forth in the Agreement.
WHEREAS the Parties desire to amend the Agreement to make certain amendments to the terms and conditions of the Agreement as set out herein;
NOW THEREFORE,
1.Amendments to Article 5
Article 5 is hereby amended by adding the following provision after Section 5.1:
5.2 Compensation Charges
5.2.1 The parties acknowledge and agree that, at the request of BEP, it may be desirable for employees and other personnel of any member of the BEP Group to receive long-term incentive compensation pursuant to one or more programs or other arrangements offered by any member of the Brookfield Group. In these cases, all or a portion of such long-term incentive compensation (including cash, options or other security-based compensation) paid or payable by the Brookfield Group to such employees or other personnel of the BEP Group shall be allocated to the applicable member of the BEP Group (a “Compensation Charge”).
5.2.2 The amount of any Compensation Charge allocated to a member of the BEP Group shall be reported to the Nominating and Governance Committee of the Managing General Partner on an annual basis.
2. Effective Date
This Amendment shall be effective upon the date first written above.
3. Governing Law
This Amendment shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein.
4. General
(a) Except as modified herein, all terms and conditions of the Agreement shall remain in full force and effect.
(b) This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall be construed together as one agreement.
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IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written.
BROOKFIELD ASSET MANAGEMENT INC.
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇_____________________
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Senior Vice President
BROOKFIELD RENEWABLE PARTNERS L.P., by its general partner, BROOKFIELD RENEWABLE PARTNERS LIMITED
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇________________________
Name: ▇▇▇▇ ▇▇▇▇▇▇
Title: Secretary
BROOKFIELD RENEWABLE ENERGY L.P., by its general partner, BREP HOLDING L.P., by its general partner, BRP BERMUDA GP LIMITED
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇________________________
Name: ▇▇▇▇ ▇▇▇▇▇▇
Title: Secretary
BRP ENERGY GROUP L.P., by its general partner, BROOKFIELD RENEWABLE ENERGY GROUP G.P. INC.
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇______________________
Name: ▇▇▇▇▇▇▇ ▇▇▇▇
Title: Senior Vice President
BROOKFIELD ASSET MANAGEMENT PRIVATE INSTITUTIONAL CAPITAL ADVISER (CANADA), L.P., by its general partner, BROOKFIELD PRIVATE FUNDS HOLDINGS INC.
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇_____________________
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Senior Vice President
BROOKFIELD RENEWABLE ENERGY GROUP (BERMUDA) LIMITED
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇________________________
Name: ▇▇▇▇ ▇▇▇▇▇▇
Title: Secretary
BROOKFIELD GLOBAL RENEWABLE ENERGY ADVISOR LIMITED
By: /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇______________________
Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Title: Director
BROOKFIELD PRIVATE CAPITAL (DIFC) LIMITED
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇_______________________
Name: ▇▇▇▇ ▇▇▇▇▇▇
Title: Director
BROOKFIELD CANADA RENEWABLE MANAGER LP, by its general partner, 1812380 ONTARIO LIMITED
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇______________________
Name: ▇▇▇▇▇▇▇ ▇▇▇▇
Title: Senior Vice President
BROOKFIELD RENEWABLE ENERGY GROUP LLC
By: /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇____________________
Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Title: Senior Vice President and Secretary
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇______________________
Name: ▇▇▇▇▇▇▇ ▇▇▇▇
Title: Senior Vice President
BROOKFIELD BRP HOLDINGS (CANADA) INC.
By: /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇_____________________
Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Title: General Counsel and Corporate Secretary
BRP BERMUDA HOLDINGS I LIMITED
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇________________________
Name: ▇▇▇▇ ▇▇▇▇▇▇
Title: Secretary
BROOKFIELD BRP EUROPE HOLDINGS (BERMUDA) LIMITED
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇________________________
Name: ▇▇▇▇ ▇▇▇▇▇▇
Title: Secretary
BROOKFIELD RENEWABLE INVESTMENTS LIMITED
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇________________________
Name: ▇▇▇▇ ▇▇▇▇▇▇
Title: Secretary
BROOKFIELD RENEWABLE POWER PREFERRED EQUITY INC.
By: /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇_____________________
Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Title: General Counsel and Corporate Secretary
BROOKFIELD RENEWABLE PARTNERS ULC
By: /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇_____________________
Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Title: General Counsel and Corporate Secretary
BROOKFIELD RENEWABLE CORPORATION
By: /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇_____________________
Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Title: General Counsel and Corporate Secretary
BROOKFIELD BRP CANADA CORP.
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇___________________ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Title: Vice President
By: /s/ ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇___________________
Name: ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇
Title: Senior Vice President, General Counsel & Secretary
BROOKFIELD BRP HOLDINGS (US) INC.
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇____________________
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Chief Financial Officer & Treasurer
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇_____________________
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Senior Vice President, General Counsel & Secretary