MIRANT CORP
SIXTH AMENDMENT TO THE EMPLOYEE SAVINGS PLAN
<DOCUMENT>
<TYPE>EX-10.74
<SEQUENCE>6
<FILENAME>g82217exv10w74.txt
<DESCRIPTION>SIXTH AMENDMENT TO THE EMPLOYEE SAVINGS PLAN
<TEXT>
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                                                                   EXHIBIT 10.74

                             SIXTH AMENDMENT TO THE
                                MIRANT SERVICES
                             EMPLOYEE SAVINGS PLAN

         WHEREAS, Mirant Services, LLC (the "Company") heretofore adopted the
Mirant Services Employee Savings Plan (the "Plan"), effective December 19,
2000, and subsequently amended and restated effective as of April 2, 2001;

         WHEREAS, the Company desires to amend the Plan in order to obtain a
favorable determination letter ruling regarding the qualified status of the
Plan; and

         WHEREAS, the Americas Benefits Committee (the "Committee") is
authorized pursuant to Section 15.1 of the Plan to amend the Plan at any time,
provided such amendment does not involve a substantial increase in cost to the
Company.

         NOW, THEREFORE, the Committee hereby amends the Plan as follows, to be
effective as of December 19, 2000, unless otherwise noted:

                                       I.

         SECTION 2.41 OF THE PLAN SHALL BE DELETED IN ITS ENTIRETY AND REPLACED
WITH THE FOLLOWING NEW SECTION 2.41:

         2.41     "Highly Compensated Employee" shall mean (in accordance with
and subject to Code Section 414(q) and any regulations, rulings, notices or
procedures thereunder), with respect to any Plan Year: (a) any Employee who was
a five percent (5%) owner of Mirant Corporation or an Affiliated Employer (as
determined pursuant to Code Section 416) during the Plan Year or the
immediately preceding Plan Year, or (b) any Employee who (1) earned more than
$85,000 in the preceding Plan Year and (2) falls within the "top-paid group,"
as defined in Code Section 414(q) (excluding those employees described in Code
Section 414(q)(8) for such purpose). The $85,000 amount shall be adjusted for
inflation and for short Plan Years, pursuant to Code Section 414(q). In
determining whether an Employee is a Highly Compensated Employee, the Committee
may make any elections authorized under applicable regulations, rulings,
notices, or revenue procedures.

                                      II.

         SECTION 4.5(A) OF THE PLAN SHALL BE DELETED IN ITS ENTIRETY AND
REPLACED WITH THE FOLLOWING NEW SECTION 4.5(A):

                  (a)      Actual Deferral Percentage Test. The Plan shall
         satisfy the nondiscrimination test of Section 401(k)(3) of the Code,
         under which no Elective Employer Contributions shall be made that
         would cause the Actual Deferral Percentage for Eligible Participants
         who are Highly Compensated Employees to exceed either subsection
         4.5(a)(1) or (2) as follows:


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                           (1)      The Average Actual Deferral Percentage for
                  Eligible Participants who are Highly Compensated Employees in
                  the current Plan Year shall not exceed the Average Actual
                  Deferral Percentage for the prior Plan Year for Eligible
                  Participants who were Non-Highly Compensated Employees for
                  the prior Plan Year multiplied by 1.25; or

                           (2)      The Average Actual Deferral Percentage for
                  Eligible Participants who are Highly Compensated Employees in
                  the current Plan Year shall not exceed the Average Actual
                  Deferral Percentage for Eligible Participants who were
                  Non-Highly Compensated Employees in the prior Plan Year
                  multiplied by two (2), provided that the Average Actual
                  Deferral Percentage for Eligible Participants who are Highly
                  Compensated Employees in the current Plan Year does not
                  exceed the Average Actual Deferral Percentage for the prior
                  Plan Year for Eligible Participants who were Non-Highly
                  Compensated Employees in the prior Plan Year by more than two
                  (2) percentage points.

                           At the election of the Committee, and upon amendment
                  to the Plan, the current year Average Actual Deferral
                  Percentage for current year Non-Highly Compensated Employees
                  may be substituted for the prior year Average Actual Deferral
                  Percentage. However, once an election is made to utilize such
                  current year Average Actual Deferral Percentage in
                  determining the Actual Deferral Percentage, the Committee may
                  not revoke such election without the approval of the Internal
                  Revenue Service, to the extent required under Code Section
                  401(k)(3)(A). Notwithstanding the foregoing, for the 2000
                  Plan Year, the Average Actual Deferral Percentage of
                  Non-Highly Compensated Employees shall be deemed to be three
                  percent (3%) or, if the Committee elects in accordance with
                  Code Section 401(k)(3)(E), the actual Average Actual Deferral
                  Percentage of Non-Highly Compensated Employees for the 2000
                  Plan Year.

                                      III.

         SECTION 5.3(A) OF THE PLAN SHALL BE DELETED IN ITS ENTIRETY AND
REPLACED WITH THE FOLLOWING NEW SECTION 5.3(A):

                  (a)      Actual Contribution Percentage Test. The Plan shall
         satisfy the nondiscrimination test of Section 401(m) of the Code,
         under which the Average Contribution Percentage for Eligible
         Participants shall not exceed either subsection 5.3(a)(1) or (2) as
         follows:

                           (1)      The Average Contribution Percentage for
                  Eligible Participants who are Highly Compensated Employees in
                  the current Plan Year shall not exceed the Average
                  Contribution Percentage for the prior Plan Year for Eligible
                  Participants who were Non-Highly Compensated Employees in the
                  prior Plan Year multiplied by 1.25; or


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                           (2)      The Average Contribution Percentage for
                  Eligible Participants who are Highly Compensated Employees in
                  the current Plan Year shall not exceed the Average
                  Contribution Percentage for Eligible Participants who were
                  Non-Highly Compensated Employees in the prior Plan Year
                  multiplied by two (2), provided that the Average Contribution
                  Percentage for Eligible Participants who are Highly
                  Compensated Employees is in the current Plan Year does not
                  exceed the Average Contribution Percentage for the prior Plan
                  Year for Eligible Participants who were Non-Highly
                  Compensated Employees in the prior Plan Year by more than two
                  (2) percentage points.

                           At the election of the Committee, and upon amendment
                  to the Plan, the current year Average Contribution Percentage
                  for current year Non-Highly Compensated Employees may be
                  substituted for the prior year Average Contribution
                  Percentage. However, once an election is made to utilize such
                  current year Average Contribution Percentage in determining
                  the Actual Contribution Percentage, the Committee may not
                  revoke such election without the approval of the Internal
                  Revenue Service, to the extent required under Code Section
                  401(m)(2)(A). Notwithstanding the foregoing, for the 2000
                  Plan Year the Average Contribution Percentage of Non-Highly
                  Compensated Employees shall be deemed to be three percent
                  (3%) or, if the Committee elects in accordance with Code
                  Section 401(m)(3), the actual Average Contribution Percentage
                  of Non-Highly Compensated Employees for the 2000 Plan Year.

                                      IV.

         EXCEPT AS AMENDED HEREIN BY THIS SIXTH AMENDMENT, THE PLAN SHALL
REMAIN IN FULL FORCE AND EFFECT AS AMENDED AND RESTATED BY THE COMPANY PRIOR TO
THE ADOPTION OF THIS SIXTH AMENDMENT.

         IN WITNESS WHEREOF, the Committee, through a duly authorized officer
of the Company, has adopted this Sixth Amendment to the Plan this 14th day of
November, 2002 to be effective as provided herein.


                                      MIRANT SERVICES, LLC



                                      By: /s/ Dianne W. Davenport
                                         -----------------------------
                                      Title: Vice President
                                            --------------------------


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