##### 



Exhibit 10.4
 THIRD AMENDMENT TO CREDIT AGREEMENT
 Amendment Credit Agreement Initial Borrower Initial Borrowers Administrative Agent
   AMENDMENTS Section
2 Annex I
 CONDITIONS PRECEDENT Surviving Obligations
  Representations and Warranties of ComEd
 Representations and Warranties of Continuing Borrowers Continuing Borrower Continuing Borrowers




---



##### 



Amended Credit Agreement
 MISCELLANEOUS
 Continuing Effectiveness, etc
 Severability
 Headings
 Execution in Counterparts
 Governing Law THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE COMMONWEALTH OF PENNSYLVANIA.
 Successors and Assigns
 Deletion of ComEd as a Borrower
  2




---



##### 



EXELON CORPORATIONBy:
    
    /s/ Thomas R. Miller

Name: Thomas R. MillerTitle: Assistant TreasurerCOMMONWEALTH EDISON COMPANYBy:
    
    /s/ Thomas R. Miller

Name: Thomas R. MillerTitle: Assistant TreasurerPECO ENERGY COMPANYBy:
    
    /s/ Thomas R. Miller

Name: Thomas R. MillerTitle: Assistant TreasurerEXELON GENERATION COMPANY, LLCBy:
    
    /s/ Thomas R. Miller

Name: Thomas R. MillerTitle: Assistant Treasurer
 Third Amendment to  Three Year Credit Agreement




---



##### 



THE LENDERS
 JPMORGAN CHASE BANK, N.A.,asAdministrative Agent and as a LenderBy:
    
    /s/ Michael J. DeForgeName: Michael J. DeForgeTitle: Vice President
 Third Amendment to Three Year Credit Agreement




---



##### 



BARCLAYS BANK PLCBy:
    
    /s/ David BartonName: David BartonTitle: Associate Director
 Third Amendment to Three Year Credit Agreement




---



##### 



CITIBANK, N.A.By:
    
    /s/ Stuart J. MurrayName: STUART J. MURRAYTitle: Director388 Greenwich Street/21st FL./NYC
(212) 816-8597
 Third Amendment to Three Year Credit Agreement




---



##### 



BANK OF AMERICA, N.A.By:
    
    /s/ Kevin R. WagleyName: Kevin R. WagleyTitle: Senior Vice President
 Third Amendment to Three Year Credit Agreement




---



##### 



MERRILL LYNCH BANK USABy:
    
    /s/ Louis AlderName: Louis AlderTitle: Director
 Third Amendment to Three Year Credit Agreement




---



##### 



THE BANK OF NOVA SCOTIABy:
    
    /s/ Thane RattewName: Thane RattewTitle: Managing Director
 Third Amendment to Three Year Credit Agreement




---



##### 



CREDIT SUISSE, Cayman Islands Branch(formerly known as CREDIT SUISSE FIRSTBOSTON, Cayman Islands Branch)By:
    
    /s/ Sarah WuName: Sarah WuTitle: DirectorBy:
    
    /s/ Denise AlvarezName: Denise AlvarezTitle: Associate
 Third Amendment to Three Year Credit Agreement




---



##### 



KEYBANK NATIONAL ASSOCIATIONBy:
    
    /s/ Lawrence A. MackName: Lawrence A. MackTitle: Senior Vice President
 Third Amendment to Three Year Credit Agreement




---



##### 



LEHMAN BROTHERS BANK, FSB,as a LenderBy:
    
    /s/ Janine M. ShuganName: Janine M. ShuganTitle: Authorized
Signatory
 Three Year Credit Agreement




---



##### 



UBS LOAN FINANCE LLCBy:
    
    /s/ Richard L. TavrowName: Richard L. TavrowTitle: DirectorBy:
    
    /s/ Irja R. OtsaName: Irja R. OtsaTitle: Associate Director
 Third Amendment to Three Year Credit Agreement




---



##### 



BNP PARIBASBy:
    
    /s/ Mark A. RenaudName: MARK A. RENAUDTitle: Managing DirectorBy:
    
    [ILLEGIBLE]Name: [ILLEGIBLE]Title: Director
 Third Amendment to Three Year Credit Agreement




---



##### 



THE BANK OF NEW YORKBy:
    
    /s/ Richard K. Fronapfel, Jr.Name: Richard K. Fronapfel, Jr.Title: Vice President
 Third Amendment to Three Year Credit Agreement




---



##### 



MELLON BANK, N.A.By:
    
    /s/ Mark W. RogersName: Mark W. RogersTitle: Vice President
 Third Amendment to Three Year Credit Agreement




---



##### 



ABN AMRO BANK, N.V.By:
    
    /s/ R. Scott DonaldsonName: R. Scott DonaldsonTitle: Vice PresidentBy:
    
    /s/ Todd VaubelName: Todd VaubelTitle: Assistant Vice President
 Third Amendment to Three Year Credit Agreement




---



##### 



DRESDNER BANK AG, NEW YORK ANDGRAND CAYMAN BRANCHESBy:
    
    /s/ Thomas R. BradyName: Thomas R. BradyTitle: DirectorDRESDNER BANK AG, NEW YORK ANDGRAND CAYMAN BRANCHESBy:
    
    /s/ Brian SmithName: Brian SmithTitle: Managing Director
 Third Amendment to Three Year Credit Agreement




---



##### 



THE NORTHERN TRUST COMPANY,as aLenderBy:
    
    /s/ Karen E. DahlName: KAREN E. DAHLTitle: VICE PRESIDENT
 Three Year Credit Agreement




---



##### 



U.S. BANK NATIONAL ASSOCIATIONBy:
    
    /s/ R. Michael NewtonName: R. Michael NewtonTitle: Vice President
 Third Amendment to Three Year Credit Agreement




---



##### 



WELLS FARGO BANK, N.A.,as a LenderBy:
    
    /s/ Charles W. ReedName: Charles W. ReedTitle: Vice PresidentBy:
    
    /s/ Peter R. MartinetsName: Peter R. MartinetsTitle: Vice President
 Three Year Credit Agreement




---



##### 



MIZUHO CORPORATE BANK, LTD.By:
    
    /s/ Raymond VenturaName: Raymond VenturaTitle: Deputy General Manager
 Third Amendment to Three Year Credit Agreement




---



##### 



WACHOVIA BANK, NATIONALASSOCIATIONBy:Name:Title:
 Third Amendment to Three Year Credit Agreement




---



##### 



MORGAN STANLEY BANKBy:Name:Title:
 Third Amendment to Three Year Credit Agreement




---



##### 



FIFTH THIRD BANKBy:Name:Title:
 Third Amendment to Three Year Credit Agreement




---



##### 



BANK HAPOALIMBy:Name:Title:
 Third Amendment to Three Year Credit Agreement




---



##### 



ANNEX I
 COPY OF CREDIT AGREEMENT AS AMENDED
 [ATTACHED]




---



##### 



as Borrowers
 as Lenders
 as Administrative Agent
     as Co-Documentation Agents
   as Syndication Agent
    Co-Lead Arrangers




---



##### 



TABLE OF CONTENTS
 PageARTICLE I     DEFINITIONS AND ACCOUNTING TERMS
    
    
    1SECTION 1.01
    
    Certain Defined Terms
    
    
    1SECTION 1.02
    
    Other Interpretive Provisions
    
    
    13SECTION 1.03
    
    Accounting Principles
    
    
    14ARTICLE II     AMOUNTS AND TERMS OF THE COMMITMENTS
    
    
    14SECTION 2.01
    
    Commitments
    
    
    14SECTION 2.02
    
    Procedures for Advances; Limitations on Borrowings
    
    
    15SECTION 2.03
    
    Facility and Utilization Fees
    
    
    16SECTION 2.04
    
    Reduction of Commitment Amounts; Adjustment of
Sublimits
    
    
    16SECTION 2.05
    
    Repayment of Advances
    
    
    17SECTION 2.06
    
    Interest on Advances
    
    
    17SECTION 2.07
    
    Additional Interest on Eurodollar Advances
    
    
    17SECTION 2.08
    
    Interest Rate Determination
    
    
    18SECTION 2.09
    
    Continuation and Conversion of Advances
    
    
    18SECTION 2.10
    
    Prepayments
    
    
    19SECTION 2.1l
    
    Increased Costs
    
    
    19SECTION 2.12
    
    Illegality
    
    
    20SECTION 2.13
    
    Payments and Computations
    
    
    21SECTION 2.14
    
    Taxes
    
    
    22SECTION 2.15
    
    Sharing of Payments, Etc
    
    
    24SECTION 2.16
    
    Facility LCs
    
    
    25ARTICLE III     CONDITIONS TO CREDIT EXTENSIONS
    
    
    29SECTION 3.01
    
    Conditions Precedent to Initial Credit Extensions
    
    
    29SECTION 3.02
    
    Conditions Precedent to All Credit Extensions
    
    
    30ARTICLE IV     REPRESENTATIONS AND WARRANTIES
    
    
    30SECTION 4.01
    
    Representations and Warranties of the Borrowers
    
    
    31ARTICLE V     COVENANTS OF THE BORROWERS
    
    
    33SECTION 5.01
    
    Affirmative Covenants
    
    
    33SECTION 5.02
    
    Negative Covenants
    
    
    37ARTICLE VI     EVENTS OF DEFAULT
    
    
    40SECTION 6.01
    
    Events of Default
    
    
    40ARTICLE VII     THE AGENTS
    
    
    42SECTION 7.01
    
    Authorization and Action
    
    
    42




---



##### 



PageSECTION 7.02
    
    Agents Reliance, Etc
    
    
    43SECTION 7.03
    
    Agents and Affiliates
    
    
    43SECTION 7.04
    
    Lender Credit Decision
    
    
    43SECTION 7.05
    
    Indemnification
    
    
    44SECTION 7.06
    
    Successor Administrative Agent
    
    
    44SECTION 7.07
    
    Co-Documentation Agents, Syndication Agent and Co-
Lead Arranger
    
    
    44ARTICLE VIII     MISCELLANEOUS
    
    
    45SECTION 8.01
    
    Amendments, Etc
    
    
    45SECTION 8.02
    
    Notices, Etc
    
    
    45SECTION 8.03
    
    No Waiver; Remedies
    
    
    45SECTION 8.04
    
    Costs and Expenses; Indemnification
    
    
    46SECTION 8.05
    
    Right of Set-off
    
    
    47SECTION 8.06
    
    Binding Effect
    
    
    47SECTION 8.07
    
    Assignments and Participations
    
    
    47SECTION 8.08
    
    Governing Law
    
    
    51SECTION 8.09
    
    Consent to Jurisdiction; Certain Waivers
    
    
    51SECTION 8.10
    
    Execution in Counterparts; Integration
    
    
    51SECTION 8.11
    
    Liability Several
    
    
    51SECTION 8.12
    
    USA PATRIOT ACT NOTIFICATION
    
    
    51SECTION 8.13
    
    Termination of Existing Agreement
    
    
    52Schedule I
    
    Pricing ScheduleSchedule II
    
    CommitmentsSchedule III
    
    Existing Letters of CreditExhibit A
    
    Form of NoteExhibit B
    
    Form of Notice of BorrowingExhibit C
    
    Form of Assignment and AcceptanceExhibit D
    
    Form of Opinion of Special Counsel for Exelon and PECOExhibit E
    
    Form of Annual and Quarterly Compliance Certificate
 -ii-




---



##### 



Certain Defined Terms
 Adjusted Funds From Operations minus plus minus,
 Administrative Agent Article VII Section 7.06
 Administrative Questionnaire
 Advance Type
 Affiliate
 Agents Agent
 Applicable Lending Office




---



##### 



Applicable Margin Schedule I.
 Assignment and Acceptance Exhibit C
 Base Rate
  plus
 Base Rate Advance Section
2.06(a).
 Borrowers Borrower
 Borrowing
 Business Day
 Closing Date
 Code
 Co-Documentation Agent
 Co-Lead
Arranger
 ComEd
 2




---



##### 



ComEd Debt
 ComEd Entity
 Commitment
 Commitment Amount Schedule II Section 8.07(c), Section 2.04.
 Commitment Termination Date Section 2.04 6.01.
 Commodity Trading Obligations
 Controlled Group
 Credit Extension
 Debt
 3




---



##### 



clauses (i) (v)
 Domestic Lending Office
 Eligible Assignee provided provided clause (i) (ii) (iii) clause (ii) (iii) (iv) (v) Section 2.14(e)
 Eligible Successor
 Energy Holdings
 4




---



##### 



Energy Holdings Debt
 Energy Holdings Entity
 ERISA
 Eurocurrency Liabilities
 Eurodollar Lending Office
 Eurodollar Rate provided
 Eurodollar Rate Advance Section 2.06(b)
 Eurodollar Rate Reserve Percentage
 Event of Default Section 6.01
 Exchange Act
 5




---



##### 



Exelon
 Exelon Sublimit Section
2.04(c)
 Existing Agreement
 Existing Letter of Credit Schedule III
 Facility Fee Rate Schedule I.
 Facility LC Section 2.16
 Facility LC Application Section 2.16.3.
 Federal Funds Rate
 GAAP Section 1.03
 Genco
 Genco Sublimit Section
2.04(c)
 Granting Bank Section 8.07(h).
 Hedging Obligations
 Interest Coverage Ratio
 6




---



##### 



Interest Expense
 Interest Expense to Affiliates
 Interest Period Section 2.02 2.09; provided
     JPMCB
 LC Fee Rate Schedule I
 LC Issuer
 LC Obligations
 LC Payment Date Section 2.16.5
 7




---



##### 



Lenders Section 8.07
 Letter of Credit Sublimit
 Lien
 Majority Lenders (provided
 Material Adverse Change Material Adverse Effect provided except as otherwise expressly provided herein,
 Material Subsidiary
 Maturity Date Section 6.01
 Modify Section 2.16.1
 Moodys
 Moodys Rating
 8




---



##### 



Multiemployer Plan
 Net Cash Flows From Operating Activities excluding
 Net Interest Expense minus minus
 Nonrecourse Indebtedness
 Debtor
   Note Exhibit A,
 Notice of Borrowing Section 2.02(a).
 9




---



##### 



OECD
 Outstanding Credit Extensions
 PBGC
 PECO
 PECO Mortgage provided
 PECO Sublimit Section 2.04(c)
 Permitted Obligations
 Person
 Plan
 Power
 Power Merger
 Power Merger Date
 10




---



##### 



Prime Rate
 Principal Subsidiary provided
 Pro Rata Share
 PSE&G
 PSEG
 PSEG Merger
 PSEG Merger Date
 PSE&G Mortgage provided
 Register Section 8.07(c)
 Reimbursement Obligations Section 2.16
 Reportable Event
 11




---



##### 



provided
 S&P
 S&P Rating
 Single Employer Plan
 SPC Section 8.07(h).
 Special Purpose Subsidiary
 Sublimit
 Subsidiary
 Syndication Agent
 Taxes Section 2.14
 Transitional Funding Instrument
 12




---



##### 



Transitional Funding Instrument Interest
 Transitional Funding Instrument Revenue
 Type
 Unfunded Liabilities
 Unmatured Event of Default
 Utility Subsidiary provided
 Utilization
Fee Rate Schedule I
 Other Interpretive Provisions Article Section Exhibit Schedule
 13




---



##### 



Accounting Principles Section 1.03(b)) Section 5.01(b)(iv)
 provided
   Commitments provided Section 2.10
 Procedures for Advances; Limitations on Borrowings
 Notice of Borrowing
 14




---



##### 



Exhibit B Section 8.02 Article III
 Article
III
 Section 2.02(a)
  15




---



##### 



Facility and Utilization Fees
  Utilization Fee
 Reduction of Commitment Amounts; Adjustment of Sublimits provided provided further Section 2.04
  16




---



##### 



Repayment of Advances
 Interest on Advances
  Section 2.07 plus
 Additional Interest on Eurodollar Advances provided provided further
 17




---



##### 



Interest Rate Determination Section 2.06(a) (b)
    Continuation and Conversion of Advances Sections 2.08 2.12 provided Section 8.04(b)
 Section 1.01 Section 2.09(a)
 18




---



##### 



Prepayments provided Section 8.04(b)
 Increased Costs Section 2.14) provided provided further clause (i) (ii)
 19
       provided provided further
 Section 2.11
 Illegality Section 2.12
 20




---



##### 



clause (i)
 Payments and Computations Section 8.02 Section 2.02(b) 2.07 2.11 2.14 8.04(b) Section 8.07(d)
  Section 2.07 Section 2.07
 21




---



##### 



provided
   Taxes Section 2.13 excluding Taxes Section 2.14
  22




---



##### 



Other Taxes it being understood
 Section 2.14
 Section 2.14 it being
understood
 Section 2.14
 Section 2.14
 23




---



##### 



Section 2.14 Section
2.14 Section 2.14(g) Section 2.14(g) Section 2.14(g) Section 2.14(f)
 Section 2.14 provided Section 2.14 provided further Section 2.14
 Sharing of Payments, Etc Section 2.02(b) 2.07 2.11 2.14 8.04(b) provided
 24




---



##### 



Section 2.15
 Facility LCs
 Issuance Section 2.01 Modify Modification
 Participations Section 2.16
 Notice Section 2.16.1 Article III provided
 25




---



##### 



Facility LC
Application
 LC Fees
 Administration; Reimbursement by Lenders LC Payment Date Section 2.16.6
 26




---



##### 



Reimbursement by Borrowers provided Section 2.16.5 Section 2.02 Article III
 Obligations Absolute Section 2.16 Section 2.16.7 Section 2.16.6
 27




---



##### 



Actions of LC Issuer Section 2.16
 Indemnification provided Section 2.16.9
 Lenders Indemnification
 28




---



##### 



Section 2.16
 Rights as a Lender
   Conditions Precedent to Initial Credit Extensions
     29




---



##### 



Section 4.01
 Exhibit D
 Conditions Precedent to All Credit Extensions
 Section 4.01 provided Section
3.02(A) Sections
4.01(e)(i)(B) 4.01(e)(ii)(B) 4.01(e)(iii)(B) Section 4.01(f)
    Representations and Warranties of the Borrowers
   30




---



##### 



31




---



##### 



32




---



##### 



Section
6.01(g) Section 6.01(g)
   Affirmative Covenants Section 5.01(a)
 Keep Books; Existence; Maintenance of Properties; Compliance with Laws; Insurance;
Taxes
  Section 5.02(b)
   33




---



##### 



provided clause (vi) provided further
 Section
4.01(g) 4.01(h)
  Reporting Requirements
  34




---



##### 



Sections 5.01(b)(ii) 5.01(b)(iii) Exhibit E
 clause (ii) (iii)
 35




---



##### 



Section 5.01(b) Communication
 Platform
  36




---



##### 



Negative Covenants Section 5.02(a)
 Limitation on Liens clause (iii) provided
 37




---



##### 



clause (I) clause
(I) clauses
(i) (xiii) Section 5.02(a) Section 5.02(a)
 Mergers and Consolidations; Disposition of Assets except provided clause (A) clause (A)
 38




---



##### 



Interest Coverage Ratio
 Continuation of Businesses
 Capital Structure
 Restrictive Agreements Section 5.02(e)
   Events of Default
 39




---



##### 



Section 5.01(a)(vii) Section 5.01(b)(i) Section 5.02
   40




---



##### 



Section 6.01(e)
  provided clauses (i) (v) provided further Section 6.01(g) Section 6.01(g) subclause (b) clause
(i)
    41




---



##### 



provided Section 6.01(e)
   Authorization and Action provided
 Agents Reliance, Etc Section 8.07
 42




---



##### 



Agents and Affiliates
 Lender Credit Decision Section 4.01(e)
 Indemnification provided
 Successor Administrative Agent
 43




---



##### 



clause (i) (ii) Article VII Section 7.06
 Co-Documentation Agents, Syndication Agent and Co-Lead Arranger
   Amendments, Etc provided Section 3.01 3.02 Section 2.04(c)(ii)(B) Section
8.01 provided further
 44




---



##### 



Notices, Etc Article II VII
 No Waiver; Remedies
 Costs and Expenses; Indemnification it being understood Section 8.04(a) it being understood
 Section 2.09 2.12
 45




---



##### 



Section 6.01
 Indemnified Person it being understood provided Section 8.04(c) Section
8.04(c)
 Right of Set-off Section 6.01 Section 6.01 provided Section 8.05
 46




---



##### 



Binding Effect provided Section 5.02(b)(iii)
 Assignments and Participations Section
8.07(g) provided Section 8.04(c) Section 8.07(a) provided
 47




---



##### 



Section 4.01(e)
 Section 8.02 Register
 Exhibit C
 Participant provided
 48




---



##### 



Section 8.07 provided
 Section 2.11(a) 2.11(b) 2.14 Section 2.12 clause (i) Section 2.11(a) 2.11(b) 2.14 clause (ii) Section 8.07 Section 8.07
 Granting
Bank SPC provided
 49




---



##### 



Section 8.07 Section 8.07(h)
 Governing Law
 Consent to Jurisdiction; Certain Waivers
  50




---



##### 



Execution in Counterparts; Integration
 Liability Several
 USA PATRIOT ACT NOTIFICATION
  Termination of Existing Agreement Section 2.04
  51




---



##### 



EXELON CORPORATIONBy:Name:Title:
 PECO ENERGY COMPANYBy:Name:Title:
 EXELON GENERATION COMPANY, LLCBy:Name:Title:
 Three Year Credit Agreement




---



##### 



THE LENDERS
 JPMORGAN CHASE BANK, N.A.(Main Office Chicago), asAdministrative Agent, as LC Issuer and as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



BARCLAYS BANK PLC,as Syndication Agent and as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



CITIBANK, N.A.,
as Co-Documentation Agent and as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



WACHOVIA BANK,
NATIONAL 
ASSOCIATION,as Co-Documentation Agent and as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



DRESDNER BANK AG,
NEW YORK AND GRAND CAYMAN BRANCHES,as Co-
Documentation Agent and as a LenderBy:Name:Title:By:Name:Title:
 Three Year Credit Agreement




---



##### 



ABN AMRO BANK, N.V., as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



BANK OF AMERICA, N.A.,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



JPMORGAN CHASE BANK,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



KEYBANK NATIONAL
ASSOCIATION,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



LEHMAN BROTHERS BANK, FSB,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



MORGAN STANLEY BANK,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



BNP PARIBAS,as a LenderBy:Name:Title:By:Name:Title:
 Three Year Credit Agreement




---



##### 



MERRILL LYNCH BANK USA,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



THE BANK OF NOVA SCOTIA,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



UBS LOAN FINANCE LLC,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



THE NORTHERN TRUST
COMPANY,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



MELLON BANK, N.A.,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



CREDIT SUISSE FIRST BOSTON,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



THE BANK OF NEW YORK,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



MIZUHO CORPORATE
BANK, LTD.,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



U.S. BANK NATIONAL
ASSOCIATION,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



WELLS FARGO BANK, N.A.,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



FIFTH THIRD BANK,as a LenderBy:Name:Title:
 Three Year Credit Agreement




---



##### 



ApplicableMargin and LC
    
    Facility FeeStatus
    
    Fee Rate
    
    Rate
    
    Utilization Fee RateLevel I
    
    
    0.525
    %
    
    
    0.125
    %
    
    
    0.100
    %Level II
    
    
    0.600
    %
    
    
    0.150
    %
    
    
    0.125
    %Level III
    
    
    0.700
    %
    
    
    0.175
    %
    
    
    0.125
    %Level IV
    
    
    0.875
    %
    
    
    0.250
    %
    
    
    0.250
    %Level V
    
    
    1.200
    %
    
    
    0.300
    %
    
    
    0.500
    %
        I-1




---



##### 



I-2




---



##### 



LENDER
    
    COMMITMENTJPMorgan Chase Bank, N.A.
    
    $
    55,333,333.34Barclays Bank PLC
    
    $
    30,666,666.67Citibank, N.A.
    
    $
    29,166,666.66Wachovia Bank, National Association
    
    $
    29,166,666.66Bank of America, N.A.
    
    $
    24,666,666.67Morgan Stanley Bank
    
    $
    24,666,666.67Merrill Lynch Bank USA
    
    $
    24,666,666.67The Bank of Nova Scotia
    
    $
    24,666,666.67Credit Suisse First Boston
    
    $
    18,333,333.33KeyBank National Association
    
    $
    24,666,666.67Lehman Brothers Bank, FSB
    
    $
    14,666,666.67UBS Loan Finance LLC
    
    $
    24,666,666.67BNP Paribas
    
    $
    24,666,666.67The Bank of New York
    
    $
    15,000,000.00Mellon Bank, N.A.
    
    $
    15,000,000.00ABN AMRO Bank, N.V.
    
    $
    29,166,666.66Dresdner Bank, AG New York and Grand Cayman Branches
    
    $
    39,166,666.66The Northern Trust Company
    
    $
    15,000,000.00U.S. Bank National Association
    
    $
    10,000,000.00Wells Fargo Bank, N.A.
    
    $
    10,000,000.00Mizuho Corporate Bank, Ltd.
    
    $
    10,000,000.00Fifth Third Bank
    
    $
    6,666,666.66TOTAL
    
    $
    500,000,000
 
  II-1




---



##### 



Number
    
    Type
    
    Borrower
    
    Current
    
    Original
    
    Actual
    
    AdjustedAmount
    
    Amount
    
    Expiration
    
    Expiration(in Dollars)
    
    (in Dollars)SLT3253
    
    Standby Letter of Credit
    
    Exelon
    
    
    220,000.00
    
    
    
    200,000.00
    
    
    20-May-2004
    
    20-May-2004SLT3254
    
    Standby Letter of Credit
    
    Exelon
    
    
    2,155,500.00
    
    
    
    2,155,500.00
    
    
    19-Dec-2003
    
    19-Dec-2003SLT3254
    
    Standby Letter of Credit
    
    Exelon
    
    
    87,669.00
    
    
    
    87,669.00
    
    
    31-Jul-2004
    
    2-Aug-2004SLT3256
    
    Standby Letter of Credit
    
    Exelon
    
    
    3,400,000.00
    
    
    
    3,400,000.00
    
    
    19-Dec-2003
    
    19-Dec-2003SLT3256
    
    Standby Letter of Credit
    
    Exelon
    
    
    1,700,000.00
    
    
    
    1,700,000.00
    
    
    19-Dec-2003
    
    19-Dec-2003SLT3256
    
    Standby Letter of Credit
    
    Exelon
    
    
    250,000.00
    
    
    
    250,000.00
    
    
    30-Sep-2004
    
    30-Sep-2004SLT3258
    
    Standby Letter of Credit
    
    Exelon
    
    
    2,700,000.00
    
    
    
    2,200,000.00
    
    
    30-Nov-2003
    
    1-Dec-2003SLT3259
    
    Standby Letter of Credit
    
    Exelon
    
    
    1,800,000.00
    
    
    
    1,800,000.00
    
    
    30-Apr-2004
    
    30-Apr-2004SLT3261
    
    Standby Letter of Credit
    
    Exelon
    
    
    12,500,000.00
    
    
    
    9,000,000.00
    
    
    31-Dec-2003
    
    31-Dec-2003SLT3262
    
    Standby Letter of Credit
    
    Exelon
    
    
    60,600.00
    
    
    
    60,600.00
    
    
    15-Nov-2004
    
    15-Nov-2004SLT3263
    
    Standby Letter of Credit
    
    Exelon
    
    
    400,000.00
    
    
    
    400,000.00
    
    
    31-Mar-2004
    
    31-Mar-2004SLT3264
    
    Standby Letter of Credit
    
    Exelon
    
    
    1,516,368.40
    
    
    
    1,397,374.60
    
    
    24-Apr-2004
    
    26-Apr-2004SLT3266
    
    Standby Letter of Credit
    
    Exelon
    
    
    5,500,000.00
    
    
    
    5,500,000.00
    
    
    31-Mar-2004
    
    31-Mar-2004SLT3266
    
    Standby Letter of Credit
    
    Exelon
    
    
    1,000,000.00
    
    
    
    1,000,000.00
    
    
    31-May 2004
    
    1-Jun-2004SLT3266
    
    Standby Letter of Credit
    
    Exelon
    
    
    635,000.00
    
    
    
    575,000.00
    
    
    31-May-2004
    
    1-Jun-2004SLT3269
    
    Standby Letter of Credit
    
    Exelon
    
    
    1,700,000.00
    
    
    
    1,700,000.00
    
    
    12-Aug-2004
    
    12-Aug-2004SLT3298
    
    Standby Letter of Credit
    
    Exelon
    
    
    1,500,000.00
    
    
    
    1,400,000.00
    
    
    31-Mar-2004
    
    31-Mar-2004SLT3298
    
    Standby Letter of Credit
    
    Exelon
    
    
    5,000,000.00
    
    
    
    5,000,000.00
    
    
    30-Sep-2004
    
    30-Sep-2004SLT3299
    
    Standby Letter of Credit
    
    Exelon
    
    
    400,000.00
    
    
    
    400,000.00
    
    
    30-Jun-2004
    
    30-Jun-2004SLT3301
    
    Standby Letter of Credit
    
    Exelon
    
    
    2,000,000.00
    
    
    
    2,000,000.00
    
    
    30-Sep-2004
    
    20-Sep-2004SLT3302
    
    Standby Letter of Credit
    
    Exelon
    
    
    250,000.00
    
    
    
    250,000.00
    
    
    21-Nov-2004
    
    21-Nov-2004SLT3308
    
    Standby Letter of Credit
    
    Exelon
    
    
    2,000,000.00
    
    
    
    2,000,000.00
    
    
    31-Aug-2004
    
    31-Aug-2004SLT3308
    
    Standby Letter of Credit
    
    Exelon
    
    
    1,000,000.00
    
    
    
    1,000,000.00
    
    
    30-Jun-2004
    
    30-Jun-2004SLT3309
    
    Standby Letter of Credit
    
    Exelon
    
    
    6,125,000.00
    
    
    
    6,125,000.00
    
    
    1-Dec-2003
    
    1-Dec-2003SLT3309
    
    Standby Letter of Credit
    
    Exelon
    
    
    185,000.00
    
    
    
    185,000.00
    
    
    9-Feb-2004
    
    9-Feb-2004SLT3318
    
    Standby Letter of Credit
    
    Exelon
    
    
    1,500,000.00
    
    
    
    1,500,000.00
    
    
    14-Apr-2004
    
    14-Apr-2004SLT3320
    
    Standby Letter of Credit
    
    Exelon
    
    
    1,364,500.00
    
    
    
    1,364,500.00
    
    
    31-Dec-2003
    
    31-Dec-2003SLT3324
    
    Standby Letter of Credit
    
    Exelon
    
    
    250,000.00
    
    
    
    250,000.00
    
    
    30-Jun-2004
    
    30-June-2004SLT7516
    
    Standby Letter of Credit
    
    Exelon
    
    
    100,000.00
    
    
    
    100,000.00
    
    
    10-Sep-2004
    
    10-Sep-2004SLT7516
    
    Standby Letter of Credit
    
    Exelon
    
    
    10,000,000.00
    
    
    
    10,000,000.00
    
    
    7-Oct-2004
    
    7-Oct-2004SLT3300
    
    Standby Letter of Credit
    
    Exelon
    
    
    700,000.00
    
    
    
    700,000.00
    
    
    31-Oct-2003
    
    31-Oct-2003




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A-1




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[EXELON CORPORATION][PECO ENERGY COMPANY][EXELON GENERATION COMPANY, LLC][By][Name:][Title:]
 A-2




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Amount ofPrincipal
    
    UnpaidAmount of
    
    Paid or
    
    Principal
    
    NotationDate
    
    Advance
    
    Prepaid
    
    Balance
    
    Made By
 A-3




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B-1




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Very truly yours,[EXELON CORPORATION][PECO ENERGY COMPANY][EXELON GENERATION COMPANY, LLC][By][Name:][Title:]
 B-2




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C-1




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1
     
 1
    
    If the Assignee is organized under the laws of a jurisdiction outside the United States. C-2




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[NAME OF ASSIGNOR]ByName:Title:[NAME OF ASSIGNEE]ByName:Title:Domestic Lending Office (andaddress for notices):[Address]Eurodollar Lending Office:[Address]
 C-3




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C-4




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Section 1.
  Section 2.
  Section 3.
 2
 
 2
    
    This date should be no earlier than the date of recording by the Administrative Agent.




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$750,000,000 Three-Year Credit Agreement




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Credit Agreement (Exelon (ComEd PECO Genco
 ComEd Notes
 (i)
    
    the Credit Agreement;(ii)
    
    the ComEd Notes;(iii)
    
    the Restated Articles of Incorporation of ComEd and all amendments thereto (the
ComEd Charter); and(iv)
    
    (iv) the by-laws of ComEd and all amendments thereto (the ComEd By-Laws).




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Investment Company Act
   Certificate Executing Officer




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