Exelon 2015 Annual Report Download - page 488

Exhibit 10.3
Exelon Corporation
Unfunded Deferred Compensation Plan for Directors
(Amended and Restated Effective March 12, 2012)
The purpose of this Unfunded Deferred Compensation Plan for Directors (the “Plan”) is to permit Directors of Exelon Corporation
(“Exelon”) to elect to defer receipt of directors’ fees. The Plan as set forth herein is an amendment and restatement of the Plan as originally adopted effective
October 20, 2000 and previously amended and restated as of January 1, 2009 and January 1, 2011, and is a successor to the PECO Energy Company
Unfunded Deferred Compensation Plan for Directors (the “Prior Plan”).
1. Administration. The Plan shall be administered by the Corporate Secretary of Exelon or his or her designee (the “Secretary”), or such
other individual or individuals as designated by the Board of Directors of Exelon (the “Exelon Board”). The Secretary shall interpret the Plan and establish
such rules and regulations of plan administration that he or she deems appropriate. The cost of plan administration shall be paid by Exelon and its
participating subsidiaries, and shall not be charged against the deferred accounts of Plan participants.
2. Eligibility. All Directors of Exelon (other than full-time employees of Exelon or its subsidiaries) shall be eligible to participate in the
Plan. Effective as of January 1, 2011, all Directors of Commonwealth Edison Company (“ComEd”) and PECO Energy Company (“PECO”) who are not full-
time employees of Exelon or its subsidiaries shall also be eligible to participate in the Plan. In addition, effective as of March 12, 2012, all Directors of
Baltimore Gas and Electric Company (“BGE”) who are not full-time employees of Exelon or its subsidiaries shall also be eligible to participate in the Plan.
3. Deferrals. (a) Prior to the first day of each calendar year, each eligible Director may elect in writing to defer the receipt of all or a
portion of his or her directors’ fees
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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