ComEd 2006 Annual Report Download - page 349

As noted above, the Deferred Compensation Plan and the Stock Deferral Plan were amended in
December 2006 in part to address the administrative complexity of compliance with Section 409A of
the Internal Revenue Code.
Also as noted above, the value mix of long-term incentive compensation was changed in 2006
from 50% stock options and 50% performance share units to 35% stock options and 65% performance
share units in part because of the effect of the implementation of SFAS No. 123-R on the accounting
for equity-based compensation.
Conclusion
The compensation committee is confident that Exelon’s compensation programs are performance-
based and consistent with sound executive compensation policy. They are designed to attract, retain
and reward outstanding executives and to motivate and reward senior management for achieving high
levels of business performance, customer satisfaction and outstanding financial results that build
shareholder value.
COMPENSATION COMMITTEE REPORT
The Compensation Committee has reviewed and discussed the Compensation Discussion and
Analysis required by Item 402(b) of Regulation S-K with management and, based on such review and
discussion, the Compensation Committee recommended to the Board that the Compensation
Discussion and Analysis be included in the 2006 Annual Report on Form 10-K and the 2007 Proxy
Statement.
The Compensation Committee
Edward A. Brennan, Chair
M. Walter D’Alessio
Rosemarie B. Greco
Ronald Rubin
Richard L. Thomas
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