ComEd 2015 Annual Report Download - page 510

Notwithstanding the foregoing, if such Participant obtains a specific type of coverage under welfare plan(s) sponsored by another
employer of such Participant (e.g. medical, prescription, vision, dental, disability, individual life insurance benefits, group life
insurance benefits, but excluding for the purposes of this sentence retiree benefits if such Participant is so eligible), then the
Company shall not be obligated to provide any such specific type of coverage. The Participant shall immediately notify the Plan
Administrator of any such coverage.
(h) Indemnification. Such Participant shall be indemnified and held harmless by the Company to the same extent as provided in Section
5.1(g), but only during the Imminent Control Change Period (or greater period provided under the Company’s by-laws) if the
Imminent Control Change Period lapses without a Change Date.
(i) Termination During an Imminent Control Change Period: Directors’ and Officers’ Liability Insurance. The Company shall provide
the same level of directors’ and officers’ liability insurance for such Participant as provided in Section 5.1(h), but only during the
Imminent Control Change Period (or greater period provided under the Company’s by-laws) if the Imminent Control Change Period
lapses without a Change Date.
5.3. Timing of Severance Payments. Unless otherwise specified herein, the Accrued Obligations and the amount described in Section 5.1(a)(i) shall
be paid within 30 business days of the Termination Date, and such amounts shall be considered “short-term deferrals” within the meaning of
Section 409A of the Code. The amounts described in Sections 5.1(a)(ii), (iii) and (iv) shall be paid in accordance with the applicable deferred
compensation plan or the SERP and the Participant’s distribution election thereunder as of the Termination Date (or, if no affirmative election
is in effect as of such date, the default election in effect with respect to the Participant as of such date). Subject to Section 13.13, the severance
payments described in Section 5.1(a)(v) shall be paid during the Severance Period, beginning no later than the second paydate which occurs
after the Termination Date, in periodic payments to a Participant according to the Company’s normal payroll practices at a monthly rate equal
to 1/12 of the sum of (i) such Participant’s Base Salary plus (ii) the Severance Incentive (if any). The in-kind benefits and reimbursements
provided under each of Sections 5.1(e), 5.1(h), 5.2(g) and 5.2(i) during any calendar year shall not affect the benefits or reimbursements to be
provided under such section in any subsequent calendar year. The right to such benefits and reimbursements shall not be subject to
liquidation or exchange for any other benefit.
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Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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