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PCG » Topics » Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under the Agreement except to the extent stated herein.

This excerpt taken from the PCG 10-K filed Feb 18, 2005.

Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under the Agreement except to the extent stated herein.

        18.   Counterparty hereby agrees (a) to check this Master Confirmation carefully and immediately upon receipt so that errors or discrepancies can be promptly identified and rectified and (b) to confirm that the foregoing (in the exact form provided by GS&Co.) correctly sets forth the terms of the agreement between GS&Co. and Counterparty with respect to any Transaction, by manually signing this Master Confirmation or this page hereof as evidence of agreement to such terms and providing the other information requested herein and immediately returning an executed copy to Equity Derivatives Documentation Department, facsimile No. 212-428-1980/83.

[SIGNATURE PAGE FOLLOWS]

18

      Yours sincerely,

 
 
 
GOLDMAN, SACHS & CO.

 
 
 
By:
/s/  VANESSA MARLING      
Authorized Signatory

Agreed and Accepted
 
 
 

By:
PG&E CORPORATION
 
 
 

By:
/s/  LEROY BARNES JR.      
 
 
 
 
Name:  Leroy Barnes, Jr.
Title:    VP Treasurer		      

19


ANNEX A

SUPPLEMENTAL CONFIRMATION FOR FULLY UNCOLLARED TRANSACTIONS

To:   PG&E Corporation
One Market Spear Tower
Suite 2400
San Francisco, CA 94105

From:
 
Goldman, Sachs & Co.

Subject:
 
Accelerated Share Repurchase Transaction—VWAP Pricing

Ref. No:
 
EN41JA000000000

Date:
 
December 16, 2004
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