ComEd 2015 Annual Report Download - page 572

any of its affiliates under any Restrictive Covenant, then all shares of Common Stock subject to such Participant’s Restricted Stock Unit Award
shall become fully vested as of the effective date of the Participant’s termination of employment or date of death, as the case may be.
(ii) Termination for Other Reasons. If a Participant’s employment with the Company terminates for any reason other than as described in clause (i) of
this Section 4(g) or if the Participant has breached his or her obligations to the Company or any of its affiliates under any Restrictive Covenant,
the unvested portion of such Participant’s Restricted Stock Unit Award shall be forfeited and terminate as of the date of such termination of
employment; provided however, that such an Award granted on or after January 1, 2012 shall become fully vested upon an involuntary
termination without Cause.
5. Stock Option Award Program.
(a) Granting of Awards. The Committee may grant Option Awards to employees who are employed in a Senior Vice President or more senior
position, as selected by the Committee in its sole discretion or, to the extent permitted by the Plan, the Chief Executive Officer of the Company.
(b) Terms of Awards. Awards shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not
inconsistent with the terms of this Program, as the Committee shall deem advisable and set forth in the applicable Award Notice.
(c) Number of Shares. The number of shares of Common Stock subject to an Option Award shall be determined by the Committee and set forth in
the applicable Award Notice.
(d) Term of Option. Except to the extent earlier terminated or exercised, each Option shall expire on, and in no event may any portion of such
Option be exercised after, the tenth anniversary of the Grant Date (the “Expiration Date”).
(e) Vesting and Forfeiture. Except to the extent the Award becomes immediately vested upon a termination of the Participant’s employment pursuant to
Section 5(g) of the Program, the Option shall become vested and exercisable (i) on the first anniversary of the Grant Date with respect to one-fourth of the
number of shares of Common Stock subject to the Award on the Grant Date, (ii) on the second anniversary of the Grant Date with respect to an additional one-
fourth of the number of shares of Common Stock subject to the Award on the Grant Date (iii) on the third anniversary of the Grant Date with respect to an
additional one-fourth of the number of shares of Common Stock subject to the Award on the Grant Date, and (iv) on the fourth anniversary of the Grant Date
with respect to the remaining shares of Common Stock subject to the award on the Grant Date, in each case subject to the Participant’s continuous
employment with the Company through the applicable vesting date.
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Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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