Ball, Dwight From: ken marshall Sent: Wednesday, April 20, 2016 11:25 AM To: Ball, Dwight Cc: Tom Clift; labbass@gmail.com Subject: Re: Nalcor Follow Up Flag: Follow up Flag Status: Completed Premier, we have taken pause in the Nalcor meetings to advise action and pending action of this morning. As per your meeting with the CEO on April 19, 2016 the Board is terminating the employment of the CEO without cause, and provisions of article 16 subset will be fully honoured, and corresponding severance implications. Your notes from this mornings press release indicate resignation, however the Board understands this was agreed that this was and is a termination without cause. Nalcor Board Sent from my iPhone On Apr 20, 2016, at 9:27 AM, Ball, Dwight wrote: Hi Ken We can discuss after your meeting Dwight Message-?? From: ken marshal! Sent: Wednesday, April 20, 2016 8:55 AM To: Premier, Ball, Dwight Coady, Siobhan Cc: EMartin@nalcorenergy.com; Tom Clift g.shortall@rogers.com; labbass@gmail.corn Subject: Nalcor Premier and Minister As I advised last week I have convened a meeting of the Nalcor Board this morning, and all members have travelled to be in attendance I understand that in your meeting with the Nalcor CEO last night that an agreement was reached regarding the CEO's departure from Nalcor and associated entities. Given that as proper governance would dictate, the employment contract rests squarely with the Boa rd, the Boa rd will be meeting on this matter and the resultant employment contract obligations as one of the items of business this morning. Second, as we discussed, the Board will be reviewing and voting on the Short Term Incentive program for 2015. As I advised, the Board has a responsibility to the organization. Yes to the shareholder, yes to the employees, yes to the public, and over arching to the Corporation. As such, the matter of contractual obligations with compensation matters have to be dealt with by the Board. Should government, in its capacity as shareholder disagree with the Board, government will presumably take the requisite steps to amend, however in the interest of the organization we will make what we feel is the just and proper decision Third, the Board will be discussing an en masse resignation in light of these matters. Clearly, by reaching directly through to the CEO and deciding employment continuation, and from the recent Budget speech, government does not have proper con?dence in the Board to continue in its duties and role. I can speak for all individuals on the Board that to a member, all have acted with proper and due care for the long term bene?t of the organization and the people of this province. I trust we will further discuss these matters either prior to or after our Board meeting. If there is anything you wish me to bring to the meeting scheduled for 10am this morning, please advise Ken his email and any attached ?les are intended for the sole use of the primary and copied addressee(s) and may contain privileged and/or con?dential information. Any distribution, use or c0pying by any means of this information is strictly prohibited. If you received this email in error, please delete it immediately and notify the sender.?