ComEd 2015 Annual Report Download - page 504

(iv) Non-vested Benefits Under Pension Plan. An amount equal to the actuarial equivalent present value of any non-vested portion of
such Participant’s accrued benefit under the Pension Plan as of the Termination Date and forfeited by such Participant by reason of
the Termination of Employment; and
(v) Multiple of Salary and Severance Incentive. An amount equal to two (2) times the sum of (x) the Participant’s Base Salary plus, if
the Participant is a participant in the Annual Incentive Award Plan for the year in which the Termination Date occurs, (y) the
Severance Incentive, net of applicable taxes and other deductions.
(b) Stock Options. Each of such Participant’s stock options granted under the LTIP (“Stock Options”) shall (i) become fully vested, and (ii)
remain exercisable until the fifth anniversary of the Termination Date or, if earlier, the expiration date of any such Stock Option,
provided that this Section 5.1(b) shall not limit the right of the Company to cancel the Stock Options in connection with a corporate
transaction pursuant to the terms of the LTIP.
(c) Performance Share Vesting. On the Termination Date, all of the long term performance share or performance cash units granted to such
Participant under the LTIP (“Performance Shares”) prior to January 1, 2013 to the extent earned by and awarded to such Participant (i.e.
as to which the applicable performance cycle has elapsed) as of the Termination Date, shall become fully vested at the actual level earned
and awarded, and, to the extent not yet earned by and awarded to such Participant (i.e. as to which the current performance cycle has not
elapsed) as of the Termination Date, shall become fully vested at the earned level determined as of the last day of the applicable
performance cycle. With respect to all Performance Shares granted on or after January 1, 2013, such Performance Shares shall become
vested and earned as set forth in the LTIP, as if the Executive had been involuntarily terminated without cause.
(d) Other Awards. All forfeiture conditions that as of the Termination Date are applicable to any shares of restricted stock or restricted stock
units awarded to such Participant by Exelon other than under the Exelon Long Term Performance Share Award Program under the LTIP
(“Restricted Stock”) shall (except as expressly provided to the contrary in the applicable awards) lapse immediately and all such awards
will become fully vested. All Cash Performance Awards shall become fully vested in accordance with their terms.
(e) Continuation of Welfare Benefits. During the Severance Period, the Executive and the Executive’s dependents shall be eligible for
participation in the Company’s welfare plans, including medical, prescription, dental, disability, employee life, group life and accidental
death benefits but excluding any severance pay (“Welfare Plans”) that
8
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
The information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. The user assumes all risks for any damages or losses arising from any use of this information,
except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.