Exhibit 10.4

AMENDMENT NO. 3 TO CREDIT AGREEMENT

This Amendment No. 3 to Credit Agreement (this “Amendment”) is entered into as
of May 30, 2014 by and among PECO Energy Company (the “Borrower”), JPMorgan
Chase Bank, N.A., as administrative agent (the “Administrative Agent”), the LC
Issuers party hereto and the other financial institutions signatory hereto (the
“Lenders”).

RECITALS

A. The Borrower, the Administrative Agent and the Lenders are party to that
certain Credit Agreement dated as of March 23, 2011 (as further amended,
restated, extended, supplemented, modified and otherwise in effect on the date
hereof, the “Credit Agreement”). Unless otherwise specified herein, capitalized
terms used in this Amendment shall have the meanings ascribed to them by the
Credit Agreement.

B. The Borrower, the Administrative Agent, the LC Issuers and the Lenders party
hereto wish to amend the Credit Agreement on the terms and conditions set forth
below.

Now, therefore, in consideration of the mutual execution hereof and other good
and valuable consideration, the parties hereto hereby agree as follows:

1. Amendments to the Credit Agreement. Subject to the satisfaction of the
conditions set forth in Section 3 of this Amendment, the Credit Agreement shall
be amended as follows:

(a) The following definitions are hereby inserted in the appropriate
alphabetical locations into Section 1.01:

(i) “Amendment No. 3” means that certain Amendment No. 3 to the Credit Agreement
dated as of May 30, 2014.

(b) The following definition appearing in Section 1.01 is hereby amended and
restated in its entirety as follows:

(i) “Termination Date” means, for any Lender, the earlier of (i) (x) for any
Declining Lender, August 10, 2018 or (y) for any Extending Lender which is party
to this Amendment, May 30, 2019, or (ii) the date on which such Lender’s
Commitment is terminated or reduced to zero in accordance with the terms hereof.

--------------------------------------------------------------------------------

2. Waiver and Consent.

(a) Pursuant to Section 8.01 of the Credit Agreement, the Borrower, the
Administrative Agent and the Majority Lenders hereby waive (i) the notice
requirements set forth in Sections 2.17.1, 2.17.2 and 2.17.3 of the Credit
Agreement and (ii) the limitation on the Existing Termination Date being
extended to no later than one year from the Existing Termination Date and the
limitation on the extended Termination Date being no later than the seventh
anniversary of the Extension Date, in each case, as set forth in Section 2.17.1
of the Credit Agreement.

(b) Each Lender party hereto hereby agrees to extend the scheduled Termination
Date for its Commitments and Advances to May 30, 2019. Each such Lender is an
“Extending Lender”, and each Lender which is not a party hereto is deemed a
“Declining Lender”, in each case, for the purposes of the Credit Agreement.

(c) Pursuant to Section 2.17.6(c) of the Credit Agreement, each LC Issuer party
hereto hereby consents to this Amendment.

3. Effectiveness. This Amendment shall become effective on the date hereof when
and if each of the following conditions is satisfied:

(a) The Administrative Agent shall have received one or more counterparts of
this Amendment duly executed by the Borrower, the Administrative Agent, LC
Issuers and Lenders constituting Majority Lenders.

(b) Each of the Administrative Agent, the LC Issuers and the Lenders shall have
received payment of all fees and expenses then due and payable to the
Administrative Agent, each LC Issuer and the Lenders, respectively, subject to
the Borrower receiving, to its satisfaction, an invoice of such amount at least
three days prior to the date hereof.

(c) No Event of Default or Unmatured Event of Default shall have occurred and be
continuing on the date hereof and after giving effect to this Amendment.

(d) The representations and warranties of the Borrower contained in the Credit
Agreement are true and correct on and as of the date hereof and after giving
effect to this Amendment, as though made on and as of such date (or, if any such
representation or warranty is expressly stated to have been made as of a
specific date, as of such specific date).

(e) Each LC Issuer shall have consented to this Amendment.

4. Reference to and Effect Upon the Credit Agreement.

(a) Except as expressly amended and supplemented hereby, the Credit Agreement
shall remain in full force and effect to the extent in effect immediately prior
to this Amendment and is hereby ratified and confirmed.

(b) The execution, delivery and effectiveness of this Amendment shall not
operate as a waiver of any right, power or remedy of the Administrative Agent,
the Borrower or any Lender under the Credit Agreement, nor constitute a waiver
of any provision of the Credit Agreement, except as specifically set forth
herein. Upon the effectiveness of this Amendment, each reference to the Credit
Agreement to “This Agreement”, “hereunder”, “hereof”, “herein” or words of
similar import shall mean and be a reference to the Credit Agreement as amended
and supplemented hereby.

(c) The provisions set forth in Sections 8.04, 8.09, 8.10 and 8.13 of the Credit
Agreement are hereby incorporated into this Amendment mutatis mutandis.

 

2

--------------------------------------------------------------------------------

5. Governing Law. This Amendment shall be governed by, and construed in
accordance with, the laws of the Commonwealth of Pennsylvania.

6. Counterparts. This Amendment may be executed in any number of counterparts
and by different parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall
constitute one and the same Amendment. Delivery of an executed counterpart
hereof, or a signature page hereto, by facsimile or electronic transmission
shall be effective as delivery of a manually executed counterpart of this
Amendment.

7. Successors and Assigns. This Amendment shall be binding upon and shall inure
to the benefit of the parties hereto and their respective successors and
assigns.

 

3

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
first above written.

 

PECO ENERGY COMPANY /s/ Stacie M. Frank Stacie M. Frank Assistant Treasurer

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

JPMORGAN CHASE BANK, N.A., as Administrative Agent

/s/ Juan Javellana

Juan Javellana

Executive Director

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

BNP PARIBAS,

as a LC Issuer

/s/ Theodore Sheen

Theodore Sheen

Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

THE BANK OF NOVA SCOTIA,

as a LC Issuer

/s/ Thane Rattew

Thane Rattew

Managing Director

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

THE ROYAL BANK OF SCOTLAND PLC,

as a LC Issuer

/s/ Tyler J. McCarthy

Tyler J. McCarthy

Director

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

JPMORGAN CHASE BANK, N.A.,

as a LC Issuer

/s/ Juan Javellana

Juan Javellana Executive Director

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

Citibank, N.A.,

as a LC Issuer

/s/ Amit Vasani

Amit Vasani Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

BARCLAYS BANK PLC,

as a LC Issuer

/s/ Vanessa Kurbatskiy

Vanessa Kurbatskiy Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

The Bank of Tokyo-Mitsubishi UFJ, Ltd.,

as a LC Issuer

/s/ Chi-Cheng Chen

Chi-Cheng Chen Director

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

Bank of America, N.A.,

as a LC Issuer

/s/ William Merritt

William Merritt Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

Wells Fargo Bank, N.A.

as a LC Issuer

/s/ Shawn Young

Shawn Young Director

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

Bank of America, N.A.,

as a Lender

/s/ William Merritt

William Merritt Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

THE BANK OF NEW YORK MELLON,

as a Lender

/s/ Mark W. Rogers

Mark W. Rogers Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

Canadian Imperial Bank of Commerce, New York Branch,

as a Lender

/s/ Anju Abraham

Anju Abraham Authorized Signatory

/s/ Robert Casey

Robert Casey

Authorized Signatory

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

U.S. BANK NATIONAL ASSOCIATION,

as a Lender

/s/ Eric J. Cosgrove

Eric J. Cosgrove Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

TD Bank, N.A.,

as a Lender

/s/ David Perlman

David Perlman Senior Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

SUMITOMO MITSUI BANKING CORPORATION,

as a Lender

/s/ Shuji Yabe

Shuji Yabe Managing Director

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

ROYAL BANK OF CANADA,

as a Lender

/s/ Rahul D. Shah

Rahul D. Shah Authorized Signatory

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

PNC Bank, National Association,

as a Lender

/s/ Jon R. Hinard

Jon R. Hinard Senior Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

MORGAN STANLEY BANK, N.A.,

as a Lender

/s/ Michael King

Michael King Authorized Signatory

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

Mizuho Bank, Ltd.,

as a Lender

/s/ Leon Mo

Leon Mo Authorized Signatory

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

MANUFACTURERS AND TRADERS TRUST COMPANY,

as a Lender

/s/ Ramal L. Moreland

Ramal L. Moreland Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

KeyBank National Association,

as a Lender

/s/ Sherrie I. Manson

Sherrie I. Manson Senior Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

The Huntington National Bank,

as a Lender

/s/ Lori Cummins-Meyer

Lori Cummins-Meyer Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

THE BANK OF NOVA SCOTIA,

as a Lender

/s/ Thane Rattew

Thane Rattew Managing Director

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

THE ROYAL BANK OF SCOTLAND PLC,

as a Lender

/s/ Tyler J. McCarthy

Tyler J. McCarthy Director

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

The Northern Trust Company,

as a Lender

/s/ Keith Burson

Keith Burson Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

JPMORGAN CHASE BANK, N.A.,

as a Lender

/s/ Juan Javellana

Juan Javellana Executive Director

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

GOLDMAN SACHS BANK USA,

as a Lender

/s/ Mark Walton

Mark Walton Authorized Signatory

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

as a Lender

/s/ Michael Spaight Michael Spaight Authorized Signatory /s/ Tyler R. Smith
Tyler R. Smith Authorized Signatory

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

Credit Agricole Corporate & Investment Bank,

as a Lender

/s/ Darrell Stanley Darrell Stanley Managing Director /s/ Michael Willis Michael
Willis Managing Director

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

Citibank, N.A.,

as a Lender

/s/ Amit Vasani Amit Vasani Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

BNP PARIBAS,

as a Lender

/s/ Denis O’Meara Denis O’Meara Managing Director /s/ Theodore Sheen Theodore
Sheen Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

BARCLAYS BANK PLC,

as a Lender

/s/ Vanessa Kurbatskiy Vanessa Kurbatskiy Vice President

Amendment No. 3 to Credit Agreement – PECO Energy Company

--------------------------------------------------------------------------------

The Bank of Tokyo-Mitsubishi UFJ, Ltd.,

as a Lender

/s/ Chi-Cheng Chen Chi-Cheng Chen Director

Amendment No. 3 to Credit Agreement – PECO Energy Company