Exelon 2015 Annual Report Download - page 499

duration of the applicable Salary Continuation Period, as indicated below, commencing no later than the second paydate which
occurs after the Participant’s Termination Date. Payment will be made in accordance with the Company’s normal payroll practices,
net of applicable taxes and other deductions.
Participant Level Salary Continuation Period
Senior Executive Management 24 months
Senior Vice Presidents of Exelon 18 months
Other Executives 15 months
(b) Participants Employed for Less Than Two Years. Each Participant who has been continuously employed by the Company for less
than twenty-four months as of the Participant’s Termination Date shall receive severance pay at a monthly rate equal to 1/12 of the
Participant’s annual base salary in effect as of the Termination Date. Subject to Section 13.13 below, payment shall be made in
regular payroll installments for the duration of the applicable Salary Continuation Period, as indicated below, commencing no later
than the second paydate which occurs after the Participant’s Termination Date. Payment will be made in accordance with the
Company’s normal payroll practices, net of applicable taxes and other deductions.
Participant Level Salary Continuation Period
Senior Executive Management 18 months (12 months if employed < 12 months)
Other Executives 12 months (6 months if employed < 12 months)
4.2. Annual Incentive Awards. Each Participant who is a participant in the Annual Incentive Award Plan for the year in which the Termination
Date occurs shall receive an Annual Incentive which shall be prorated by multiplying the amount of such Annual Incentive by a fraction the
numerator of which is the number of days elapsed during such year as of the Participant’s Termination Date and the number of days in the year
in which Termination Date occurs. Payment of Annual Incentives under this Section 4.2 shall be made in a lump sum net of applicable taxes
and other deductions at the time awards under the Annual Incentive Award Plan are paid to active employees for such performance period (but
not later than March 15 of the year following the last day of such performance period), and
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Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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