- Evaluation period ends and award is posted if no match is required at 2:00

p.m. CCT the same Day;

- If the prearranged Shipper’s bid is not the “best bid,” Freebird shall

allow such Prearranged Shipper a matching period of thirty (30) minutes from

2:00 P.M. CCT until 2:30 P.M. CCT on the Day the bid period ends, or such

later time as specified in the Releasing Shipper’s offer, to determine whether

to match the “best bid” and to notify Freebird of its decision.

- If a match is required, the award will be posted by 3:00 p.m. CCT.

Freebird will issue a contract within one hour of the award posting (with a

new contract number, when applicable). Nominations for Gas flow are possible

beginning at the next available nomination cycle for the effective date of the

contract. Such nominations will be processed in accordance with the

nomination and scheduling requirements of Section 8 of the General Terms and

Conditions; however, in no circumstance will Gas flow prior to the effective

date of the release as specified in Releasing Shipper’s offer.

(c) Timeline for Non-standard Releases

If Shipper specifies a bid evaluation methodology other than those

stated in Section 4.7, or any special terms or conditions, the above timelines

shall apply; provided, however, one additional Business Day will be added to

the evaluation period. Subsequent deadlines will be delayed by such additional

Business Day, causing Gas flow to occur at least one Day later than under the

standard timelines set forth in Sections 4.3(a) and 4.3(b), above.

(d) Releases Not Subject to Bidding

Prearranged capacity releases of a duration of thirty-one (31) days or

less, to an asset manager (as defined by FERC regulations at 18 C.F.R. §

284.8(h)(3)), or to a marketer participating in a state-regulated retail

program (as defined by FERC regulations at 18 C.F.R. § 284.8(h)(4)) are not

required to be posted for bidding pursuant to Section 4.3. Nonetheless, the

Shipper may elect to post one of the foregoing releases for bidding pursuant

to Section 4.3, Shipper shall notify Freebird by providing the information

pursuant to Section 4.1, which information will be posted on the Internet Web

Site as required by Section 4.5 in accordance with the following timelines:

Timely Cycle:

Posting of prearranged deals not subject to bid are due by 10:30 a.m. CCT.

Evening Cycle:

Posting of prearranged deals not subject to bid are due by 5:00 p.m. CCT.

Intraday 1 Cycle:

Posting of prearranged deals not subject to bid are due by 9:00 a.m. CCT.

Intraday 2 Cycle:

Posting of prearranged deals not subject to bid are due by 4:00 p.m. CCT.

Prior to the nomination deadline for the chosen cycle for the begin

date specified in the Shipper notice, the Prearranged Shipper must initiate

confirmation of prearranged deals electronically. Freebird will issue a

contract within one hour of notification of the release (with a new contract

number, when