ComEd 2006 Annual Report Download - page 438

2.2 Termination of Participation. Each Participant shall remain a Participant until such individual receives a distribution of the entire
balance of his or her Deferred Stock Account hereunder; provided, however, that a Participant who is, as of any applicable election
date, no longer described in paragraphs (a) or (b) of Section 2.1, shall not be entitled to make any further deferral elections under the
Plan.
ARTICLE III
Deferral Elections
3.1 Deferral Elections.
(a) Deferral Elections.
(i) On or before the election due date set forth below, each Participant may elect, in the manner specified by the Plan
Administrator, to defer the receipt of all or a portion of any Award.
(ii) An election made prior to October 1, 2000 to defer receipt of any Award made to Participant under the PECO Energy
Company Performance Share Program as in effect prior to October 1, 2000 shall be deemed to be a deferral election
under this Section 3.1(a), and except as otherwise specifically provided herein, the terms and conditions of the Plan
shall apply to such deferral elections.
(iii) Notwithstanding the foregoing, Awards granted after December 31, 2006 may not be deferred under the Plan.
(b) Election Due Dates. Elections under the Plan shall be due on such date as the Plan Administrator or its delegate shall specify,
but no later than December 31st of the calendar year preceding the calendar year in which the Award is granted or such other time
determined by the Plan Administrator in accordance with interpretive guidance issued by the U.S. Treasury Department under
section 409A of the Code; provided, however, that for an individual who first becomes an eligible employee after an applicable
election due date, the election shall be due within 30 days after the date on which such individual is notified of his or her
eligibility under the Plan.
(c) Effect of Elections. An election made pursuant to paragraph (b) hereof shall provide that the Award subject to such election
shall not be paid to the Participant at the time provided under the terms of the program under which the Award was granted or
Agreement, as applicable, but shall instead be paid to the Participant in accordance with the Participant’s Distribution Election
Form (as defined in Section 5.1).
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