ComEd 2015 Annual Report Download - page 501

period, if any; provided, however that a Participant who, as of the last day of the Salary Continuation Period, has attained at least age 50 and
completed at least 10 years of service (or who has completed such other age and service requirement then in effect under the Exelon
Corporation Severance Benefit Plan or any successor plan as of the relevant time set forth in such plan) under the terms of the Pension Plan (or
who, pursuant to the terms of an offer of employment or employment agreement or under any provision of the Pension Plan or SERP, is
credited with a number of additional years of age and/or service that would enable such Participant to satisfy the above eligibility
requirements) shall be entitled to elect such Company group health care programs for retirees as are in effect as of the Termination Date and
are applicable to such Participant by the programs’ eligibility terms and conditions as though such Participant had attained such programs’
age and service requirements. The eligibility for coverage and availability of programs or plans, the amounts charged for coverage, and the
other terms, conditions and limitations under the Company’s group health care programs or plans shall remain subject to the Company’s right
to amend, change or terminate such programs or plans at any time.
4.6. SERP / Other Deferred Compensation. For purposes of the Participant’s SERP benefit, the Salary Continuation Period shall be taken into
account as service solely for purposes of determining whether the Participant is vested (i.e., 3 or 5 years of service) and, to the extent relevant
under the Pension Plan covering the Participant, the amount of the Participant’s regular accrued benefit, but not for purposes of determining
eligibility for early retirement benefits (including any social security supplement) or any other purpose. In determining the amount of the
Participant’s vested benefit, if any, the severance payments made under Section 4.1 shall be taken into account as if such payments were
normal base salary and incentive payments. Payment shall be made in accordance with the SERP and the Participant’s distribution election in
effect thereunder as of the Termination Date (or, if no affirmative election is in effect as of such date, the default election applicable to the
Participant). All amounts previously deferred by, or accrued to the benefit of, such Participant under the Exelon Corporation Deferred
Compensation Plan, the Exelon Corporation Stock Deferral Plan or the Constellation Energy Group, Inc. Nonqualified Deferred
Compensation Plan shall, to the extent vested, be paid in accordance with the Participant’s distribution election in effect thereunder as of the
Termination Date (or, if no affirmative election is in effect as of such date, the default election applicable to the Participant).
4.7. Life Insurance and Disability Coverage. A Participant shall be eligible for continued coverage under the applicable basic life insurance and
long term disability plans sponsored by the Company (or other equivalent coverage or benefits) shall be extended to each Participant through
the last day of the Salary Continuation Period applicable to such Participant on the same terms and subject to the same terms and conditions
as are applicable to active peer employees (including, without limitation, submission of proof by an Executive who seeks long term disability
benefits that such Executive would have satisfied the conditions for such benefits had the Executive been an employee during the Salary
Continuation Period and terminated employment on or before the last day of such period).
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Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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