Exelon 2015 Annual Report Download - page 489

earned with respect to his or her service on the board of directors of Exelon, ComEd, PECO and/or BGE (each such board of directors, a “Board”) for such
calendar year, by filing a written Director’s deferral agreement form with the Secretary with respect to each such Board on which the Director serves. A
Director who first becomes eligible to participate in the Plan after the first day of any calendar year shall be permitted to make the election described in this
Section 3 not later than 30 days after becoming eligible to participate in the Plan, and such election shall apply only to directors’ fees earned during the
remainder of such calendar year. In all events, each deferral election made under this Plan shall apply only to fees earned after the date of such election.
Deferred amounts under the Plan, together with deferred amounts and attributable earnings under the Prior Plan, shall be credited to a deferral account in the
participant’s name (“Deferral Account”) for later distribution. Each participant’s Deferral Account shall be a bookkeeping entry only, and none of Exelon,
ComEd, PECO or BGE shall be required to fund the Deferral Account. Any assets that may be held to fund a Deferral Account shall at all times remain
unrestricted assets of Exelon, ComEd, PECO or BGE in its corporate capacity and not as a fiduciary, and shall be subject to the claims of its general
creditors. Pending distribution, each participant’s Deferral Account shall be credited with earnings or interest as provided in Section 3(b).
(b) (1) For purposes of measuring the earnings or losses credited to a participant’s Deferral Account, the participant may select,
from among the investment funds available from time to time under the Exelon Corporation Employee Savings Plan (the “Savings Plan”), the investment
funds in which all or part of his or her Deferral Account shall be deemed to be invested.
(2) The participant shall make an investment designation in the form and manner prescribed by the Secretary, which shall
remain effective until another valid
-2-
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
The information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. The user assumes all risks for any damages or losses arising from any use of this information,
except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.