ComEd 2006 Annual Report Download - page 427

4.3 Incentive Award Elections. For Plan Years prior to January 1, 2007, an individual who is an Eligible Employee with respect
to a Plan Year and who may become entitled during such Plan Year to receive an award under any annual incentive plan of an
Employer (or a business unit or department thereof) may elect, in the manner specified by the Plan Administrator, to defer receipt of
all or a whole percentage of such annual incentive award. An Eligible Employee may elect, in a manner specified by the Plan
Administrator, to defer any portion of a performance share unit award granted under the Company’s long term incentive plan that
becomes payable in cash during 2005. No portion of a performance share unit award that becomes payable in cash during 2006 or
later shall be eligible for deferral.
4.4 SERP “Transfer” Elections. An individual who is an Eligible Employee with respect to a Plan Year ending on or before
December 31, 2005 and who separates from service during such Plan Year may elect to receive payment of his or her non-qualified
supplemental pension benefit (if any) pursuant to the distribution terms of this Plan by filing an election in the time and manner
specified by the Plan Administrator, which for the Plan Year ending December 31, 2005 shall be in accordance with interpretive
guidance issued by the U.S. Treasury Department under section 409A of the Code.
4.5 Election Due Dates. An election under this Article IV shall be made (i) with respect to the Plan Year in which an Eligible
Employee first becomes eligible to participate in the Plan, no later than 30 days after such individual becomes so eligible, and (ii) with
respect to any other Plan Year, at such time as the Plan Administrator shall designate, provided that (A) each election to defer
performance-based compensation, within the meaning of section 409A of the Code, that is based on a performance period of at least
12 months, shall be made not later than six months before the last day of the applicable performance period and before such
compensation has become both substantially certain to be paid and readily ascertainable and (B) each election to defer any
compensation other than performance-based compensation described in clause (A) shall be made not later than December 31 of the
calendar year preceding the year in which any amount subject to such election is earned, or such other time determined by the Plan
Administrator in accordance with interpretive guidance issued by the U.S. Treasury Department under section 409A of the Code.
4.6 Irrevocability/Effect of Elections. An election under this Article IV with respect to any Plan Year shall be irrevocable, except
as otherwise provided herein or as determined by the Plan Administrator in accordance with interpretive guidance issued by the U.S.
Treasury Department under section 409A of the Code. Any election under this Article IV shall authorize the Participant’s Employer to
reduce the compensation otherwise payable to the Participant in a manner consistent with such election.
ARTICLE V
Accounts
5.1 Retirement Accounts. A Retirement Account shall be established on the books of the Company and each Subsidiary in the
name and on behalf of each Participant who is an
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