Exelon 2015 Annual Report Download - page 523

10. CLAIMS PROCEDURE
The Plan Administrator shall determine the status of an individual as an Executive and the eligibility and rights of any Executive or former Executive
as a Participant to any severance pay or benefits hereunder. Any Executive or former Executive who believes that he or she is entitled to receive severance
pay or benefits under the Plan, including severance pay or benefits other than those initially determined by the Plan Administrator, may file a claim in writing
with the Plan Administrator. Within 90 days after the receipt of the claim the Plan Administrator shall either allow or deny the claim in writing, unless special
circumstances require an extension of time for processing, in which case a decision shall be rendered as soon as practicable, but not later than 180 days after
receipt of a request for review.
A claimant whose claim is denied (or his or her duly authorized representative) may, within 60 days after receipt of the denial of his or her claim,
request a review upon written application to Exelon’s Chief Human Resources Officer or other officer designated by Exelon and specified in the claim denial;
review (without charge) relevant documents; and submit written comments, documents, records and other information relating to the claim.
The Chief Human Resources Officer or other designated officer shall notify the claimant of his or her decision on review within 60 days after receipt of
a request for review unless special circumstances require an extension of time for processing, in which case a decision shall be rendered as soon as possible,
but not later than 120 days after receipt of a request for review. Notice of the decision on review shall be in writing. The officer’s decision on review shall be
final and binding on any claimant or any successor in interest.
In reviewing a claim or an appeal of a claim denial, the Plan Administrator and the Chief Human Resources Officer or other designated by Exelon shall
have all of the powers and authority granted to the Plan Administrator pursuant to Section 9.
11. ARBITRATION
Any dispute, controversy or claim between the parties hereto concerning whether an Executive’s termination of employment for purposes of Section 5
is based on either Good Reason or Cause may, after the claims procedure under Section 10 has been exhausted and at the election of the Executive, be settled
by binding arbitration in Chicago, Illinois, before an impartial arbitrator pursuant to the rules and regulations of the American Arbitration Association
(“AAA”) pertaining to the arbitration of employee benefit plan disputes. The costs and fees of the arbitrator shall be borne equally by the parties, regardless of
the result of the arbitration. No arbitration shall be commenced after the date when institution of legal or equitable proceedings based upon such subject
matter would be barred by the applicable statutes of limitations. Notwithstanding anything to the contrary contained in this Section or elsewhere in this Plan,
any party may seek relief in the form of specific performance, injunctive or other equitable relief in order to enforce the decision of the arbitrator, and the
Company may seek injunctive relief to enforce the above-referenced statutes of limitations.
12. AMENDMENT OR TERMINATION OF PLAN
Exelon’s Chief Human Resources Officer or another designated officer of the Company may amend, modify or terminate the Plan at any time by written
instrument; provided, however,
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Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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