ComEd 2006 Annual Report Download - page 363

In response to declining plan enrollment and the administrative complexity of compliance with
Section 409A of the Internal Revenue Code, the compensation committee approved amendments to
the Deferred Compensation and Stock Deferral Plans at its December 4, 2006 meeting. The Deferred
Compensation Plan was amended to:
• cease deferrals of base salary and annual incentive awards earned on or after January 1,
2007;
• require distributions in 2007 of deferred annual incentive awards earned in 2006;
• require participants to elect distributions of their account balances payable in a lump sum or
annual installments upon retirement, or in a lump sum in the third quarter of 2007; and
• continue to permit deferral of amounts that would have been contributed to the Employee
Savings Plan but for applicable IRS limitations.
The Stock Deferral Plan was amended to:
1. cease deferrals of performance share units earned in 2007 or later;
2. require distribution, upon vesting, of non-vested deferred performance share units earned in
2004, 2005 and 2006; and
3. require participants to elect distributions of their remaining account balances payable in a
lump sum or installments upon retirement, or in a lump sum during the third quarter of 2007.
Deferred Compensation Plan balance and Stock Deferral Plan balance lump sum distribution
elections, 2007 Excess Savings Plan Contribution elections and Retirement Distribution elections for
NEOs are summarized in the following table:
Exelon, Generation and PECO
Name
Elected to Receive
Deferred
Compensation Plan
Balances as of
12/31/06 in 3rd
Quarter 2007
Elected to
Receive Stock
Deferral Plan
Balances as of
12/31/06 in 3rd
Quarter 2007
Elected to Defer into
the Deferred
Compensation Plan
Amounts Contributed
to the Exelon
Corporation Employee
Savings Plan in 2007
that Exceed Applicable
IRS Limits
Retirement Distribution
Election for any Account
Balance Held in the
Deferred Compensation
Plan or Stock Deferral
Plan after the 3rd Quarter
of 2007
Rowe .............. Yes Yes Yes 100% Lump Sum
Skolds ............. Yes Yes Yes 100% Lump Sum
Young .............. Yes Yes Yes 100% Lump Sum
Mehrberg ........... Yes No Yes 100% Lump Sum
Clark ............... Yes Yes Yes 100% Lump Sum
McLean ............ No No Yes 100% Lump Sum
Crane .............. Yes Yes Yes 100% Lump Sum
O’Brien ............. No No Yes 100% Lump Sum
Hilzinger ............ Yes Yes Yes 100% Lump Sum
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