ComEd 2006 Annual Report Download - page 415

ARTICLE 7
AMENDMENT
Section 7.1. Amendment. The Company may at any time and from time to time amend or modify the Plan by written
instrument duly adopted by the Board of Directors of the Company. Any such amendment or modification shall become effective on
or as of such date as the Company shall determine and may apply to Participants in the Plan and their Beneficiaries at the effective
date thereof as well as to future Participants and their Beneficiaries, provided, however, that no such amendment shall adversely
affect the rights under the Plan of any person to receive or be entitled to receive benefits such person has accrued under the Plan as of
the date the amendment is adopted.
Section 7.2. Termination of the Plan. The Company may at any time terminate the Plan by resolution adopted by its Board
of Directors to that effect, provided, however, that such termination shall not adversely affect the rights under the Plan of any person
to receive or be entitled to receive benefits such person has accrued under the Plan as of the date the resolution is adopted.
ARTICLE 8
CONTINUANCE BY A SUCCESSOR
In the event that any Employer shall be reorganized by way of merger, consolidation, transfer of assets or otherwise, so that
another corporation other than an Employer shall succeed to all or substantially all of such Employer’s business, such successor
corporation may be substituted for such Employer under the Plan by adopting the Plan. If, within 90 days following the effective date
of any such reorganization, such successor corporation shall not have elected to become a party to the Plan, or if the Employer shall
adopt a plan of complete liquidation other than in connection with a reorganization, the Plan shall be automatically terminated with
respect to Employees of such Employer as of the close of business on the 90th day following the effective date of such reorganization
or as of the close of business on the date of adoption of such plan of complete liquidation.
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