Document:

Exhibit

Exhibit 4.1

Prepared by:  /s/ ELIZABETH HENSEN              

Elizabeth Hensen
Assistant General Counsel
Exelon Corporation
10 S. Dearborn,     49th floor SE
Chicago, IL 60603
(312) 394-3086
Return to:    Elizabeth Hensen
Assistant General Counsel
Exelon Corporation
10 S. Dearborn,     49th floor SE
Chicago, IL 60603
(312) 394-3086
Counterpart ______ of 30
PECO ENERGY COMPANY
TO
U.S. BANK NATIONAL ASSOCIATION, TRUSTEE 
______________________ 
 
ONE HUNDRED AND SIXTEENTH SUPPLEMENTAL  
INDENTURE DATED AS OF  
SEPTEMBER 1, 2018
TO
FIRST AND REFUNDING MORTGAGE
OF
THE COUNTIES GAS AND ELECTRIC
COMPANY
TO
FIDELITY TRUST COMPANY, TRUSTEE 
DATED MAY 1, 1923
__________________
3.900% SERIES DUE 2048 
(Additional Issuance of Bonds of 3.900% Series due 2048)

    

PECO ENERGY COMPANY
TO
U.S. BANK NATIONAL ASSOCIATION, TRUSTEE 

______________________ 
 

ONE HUNDRED AND SIXTEENTH SUPPLEMENTAL  
INDENTURE DATED AS OF  
SEPTEMBER 1, 2018 
 
TO
FIRST AND REFUNDING MORTGAGE
OF
THE COUNTIES GAS AND ELECTRIC  
COMPANY
TO
FIDELITY TRUST COMPANY, TRUSTEE 
DATED MAY 1, 1923
__________________

3.900% SERIES DUE 2048 
(Additional Issuance of Bonds of 3.900% Series due 2048)

    

THIS SUPPLEMENTAL INDENTURE dated as of September 1, 2018 by and between PECO ENERGY COMPANY, a corporation organized and existing under the laws of the Commonwealth of Pennsylvania (hereinafter called the Company), party of the first part, and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America (hereinafter called the Trustee), as Trustee under the Mortgage hereinafter mentioned, party of the second part, Witnesseth that
WHEREAS, The Counties Gas and Electric Company (hereinafter called Counties Company), a Pennsylvania corporation and a predecessor to the Company, duly executed and delivered to Fidelity Trust Company, a Pennsylvania corporation to which the Trustee is successor, as Trustee, a certain indenture of mortgage and deed of trust dated May 1, 1923 (hereinafter called the Mortgage), to provide for the issue of, and to secure, its First and Refunding Mortgage Bonds, issuable in series and without limit as to principal amount except as provided in the Mortgage, the initial series of Bonds being designated the 6% Series of 1923, and the terms and provisions of other series of bonds secured by the Mortgage to be determined as provided in the Mortgage; and 
WHEREAS, thereafter Counties Company, Philadelphia Suburban-Counties Gas and Electric Company (hereinafter called Suburban Company), and the Company, respectively, have from time to time executed and delivered indentures supplemental to the Mortgage, providing for the creation of additional series of bonds secured by the Mortgage and for amendment of certain of the terms and provisions of the Mortgage and of indentures supplemental thereto, or evidencing the succession of Suburban Company to Counties Company and of the Company to Suburban Company, such indentures supplemental to the Mortgage, the respective dates, parties thereto, and purposes thereof, being as follows:

    1

	
			
	

Supplemental Indenture  
      and Date   
	Parties
	Providing for:

	First 
September 1, 1926
	Counties Company to  
Fidelity-Philadelphia 
Trust Company 
(Successor to Fidelity 
Trust Company)
	Bonds of 5% Series of 
1926

	Second 
May 1, 1927
	Suburban Company to 
 Fidelity-Philadelphia 
Trust Company
	Evidencing succession of  
Suburban Company to  
Counties Company

	Third 
May 1, 1927
	Suburban Company to  
Fidelity-Philadelphia 
Trust Company
	Bonds of 4-1/2% Series 
due 1957; amendment of 
certain provisions of  
Mortgage

	Fourth 
November 1, 1927
	Suburban Company to  
Fidelity-Philadelphia 
Trust Company
	Additional Bonds of  
4-1/2% Series due 1957

	Fifth 
January 31, 1931
	Company to  
Fidelity-Philadelphia 
Trust Company
	Evidencing succession of  
Company to  
Suburban Company

	Sixth 
February 1, 1931
	Company to  
Fidelity-Philadelphia 
Trust Company
	Bonds of 4% Series  
due 1971

	Seventh 
March 1, 1937
	Company to  
Fidelity-Philadelphia 
Trust Company
	Bonds of 3-1/2% Series  
due 1967; amendment of 
certain provisions of  
Mortgage

	Eighth 
December 1, 1941
	Company to  
Fidelity-Philadelphia 
Trust Company
	Bonds of 2-3/4% Series 
due 1971; amendment of 
certain provisions of 
Mortgage

	Ninth 
November 1, 1944
	Company to  
Fidelity-Philadelphia 
Trust Company
	Bonds of 2-3/4% Series  
due 1967 and 2-3/4% Series  
due 1974; amendment of  
certain provisions of  
Mortgage

	Tenth 
December 1, 1946
	Company to  
Fidelity-Philadelphia 
Trust Company
	Bonds of 2-3/4% Series  
due 1981; amendment of  
certain provisions of  
Mortgage*

	Eleventh 
February 1, 1948
	Company to 
Fidelity-Philadelphia 
Trust Company
	Bonds of 2-7/8% Series 
due 1978*

    2

	
			
	

Supplemental Indenture  
      and Date   
	Parties
	Providing for:

	Twelfth 
January 1, 1952
	Company to 
Fidelity-Philadelphia 
Trust Company
	Bonds of 3-1/4% Series 
due 1982*

	Thirteenth 
May 1, 1953
	Company to  
Fidelity-Philadelphia 
Trust Company
	Bonds of 3-7/8% Series 
due 1983*

	Fourteenth 
December 1, 1953
	Company to  
Fidelity-Philadelphia 
Trust Company
	Bonds of 3-1/8% Series 
due 1983*

	Fifteenth 
April 1, 1955
	Company to  
Fidelity-Philadelphia 
Trust Company
	Bonds of 3-1/8% Series 
due 1985*

	Sixteenth 
September 1, 1957
	Company to  
Fidelity-Philadelphia 
Trust Company
	Bonds of 4-5/8% Series 
due 1987; amendment of certain provisions of Mortgage*

	Seventeenth 
May 1, 1958
	Company to  
Fidelity-Philadelphia 
Trust Company
	Bonds of 3-3/4% Series 
due 1988; amendment of certain provisions of Mortgage*

	Eighteenth 
December 1, 1958
	Company to  
Fidelity-Philadelphia 
Trust Company
	Bonds of 4-3/8% Series 
due 1986*

	Nineteenth 
October 1, 1959
	Company to  
Fidelity-Philadelphia 
Trust Company
	Bonds of 5% Series 
due 1989*

	Twentieth 
May 1, 1964
	Company to 
Fidelity-Philadelphia 
Trust Company
	Bonds of 4-1/2% Series 
due 1994*

	Twenty-first 
October 15, 1966
	Company to 
Fidelity-Philadelphia 
Trust Company
	Bonds of 6% Series due 
1968-1973*

	Twenty-second 
June 1, 1967
	Company to The Fidelity Bank (formerly  
Fidelity-Philadelphia 
Trust Company)
	Bonds of 5-1/4 % Series due 
1968-1973 and 5-3/4 %  
Series due 1977*

	Twenty-third 
October 1, 1957
	Company to The Fidelity  
Bank
	Bonds of 6-1/8 % Series  
due 1997*

	Twenty-fourth 
March 1, 1968
	Company to The Fidelity  
Bank
	Bonds of 6-1/2% Series 
due 1993; amendment of  
Article XIV of 
Mortgage*

    3

	
			
	

Supplemental Indenture  
      and Date   
	Parties
	Providing for:

	Twenty-fifth 
September 10, 1968
	Company to The Fidelity  
Bank
	Bonds of 1968 Series due 
1969-1976*

	Twenty-sixth 
August 15, 1969
	Company to The Fidelity  
Bank
	Bonds of 8% Series due 
1975*

	Twenty-seventh 
February 1, 1970
	Company to The Fidelity  
Bank
	Bonds of 9% Series due 
1995*

	Twenty-eighth 
May 1, 1970
	Company to The Fidelity  
Bank
	Bonds of 8-1/2% Series  
due 1976*

	Twenty-ninth 
December 15, 1970
	Company to The Fidelity  
Bank
	Bonds of 7-3/4% Series  
due 2000*

	Thirtieth 
August 1, 1971
	Company to The Fidelity  
Bank
	Bonds of 8-1/4% Series  
due 1996*

	Thirty-first 
December 15, 1971 
	Company to The Fidelity  
Bank
	Bonds of 7-3/8% Series  
due 2001; amendment of  
Article XI of Mortgage*

	Thirty-second 
June 15, 1972
	Company to The Fidelity  
Bank
	Bonds of 7-1/2% Series 
due 1998*

	Thirty-third 
January 15, 1973
	Company to The Fidelity  
Bank
	Bonds of 7-1/2% Series 
due 1999*

	Thirty-fourth 
January 15, 1974
	Company to The Fidelity  
Bank
	Bonds of 8-1/2% Series 
due 2004

	Thirty-fifth 
October 15, 1974
	Company to The Fidelity  
Bank
	Bonds of 11% Series 
due 1980*

	Thirty-sixth 
April 15, 1975
	Company to The Fidelity  
Bank
	Bonds of 11-5/8% Series 
due 2000*

	Thirty-seventh 
August 1, 1975
	Company to The Fidelity  
Bank
	Bonds of 11% Series due 
2000*

	Thirty-eighth 
March 1, 1976
	Company to The Fidelity  
Bank
	Bonds of 9-1/8% Series 
due 2006*

	Thirty-ninth 
August 1, 1976
	Company to The Fidelity  
Bank
	Bonds of 9-5/8% Series 
due 2002*

	Fortieth 
February 1, 1977
	Company to The Fidelity  
Bank
	Bonds of Pollution 
Control Series A 
and Pollution 
Control Series B*

    4

	
			
	

Supplemental Indenture  
      and Date   
	Parties
	Providing for:

	Forty-first 
March 15, 1977
	Company to The Fidelity  
Bank
	Bonds of 8-5/8% Series 
due 2007*

	Forty-second 
July 15, 1977
	Company to The Fidelity  
Bank
	Bonds of 8-5/8% Series 
due 2003*

	Forty-third 
March 15, 1978
	Company to The Fidelity  
Bank
	Bonds of 9-1/8% Series 
due 2008*

	Forty-fourth 
October 15, 1979
	Company to The Fidelity  
Bank
	Bonds of 12-1/2% Series 
due 2005*

	Forty-fifth 
October 15, 1980
	Company to The Fidelity  
Bank
	Bonds of 13-3/4% Series 
due 1992*

	Forty-sixth 
March 1, 1981
	Company to The Fidelity  
Bank
	Bonds of 15-1/4% Series 
due 1996; amendment of 
Article VIII of 
Mortgage*

	Forty-seventh 
March 1, 1981
	Company to The Fidelity  
Bank
	Bonds of 15% Series due 
1996; amendment of 
Article VIII of  
Mortgage*

	Forty-eighth 
July 1, 1981
	Company to The Fidelity  
Bank
	Bonds of 17-5/8% Series 
due 2011*

	Forty-ninth 
September 15, 1981
	Company to The Fidelity  
Bank
	Bonds of 18-3/4% Series 
due 2009*

	Fiftieth 
April 1, 1982
	Company to The Fidelity  
Bank
	Bonds of 18% Series due 
2012*

	Fifty-first 
October 1, 1982
	Company to The Fidelity  
Bank
	Bonds of 15-3/8% Series 
due 2010*

	Fifty-second 
June 15, 1983
	Company to The Fidelity  
Bank
	Bonds of 13-3/8% Series 
due 2013*

	Fifty-third 
November 15, 1984
	Company to Fidelity Bank,  
National Association  
(formerly The Fidelity Bank)
	Bonds of 13.05% Series 
due 1994; amendment 
of Article VIII of 
Mortgage*

	Fifty-fourth 
December 1, 1984
	Company to Fidelity Bank,  
National Association
	Bonds of 14% Series due 
1988-1994; amendment 
of Article VIII of 
Mortgage*

	Fifty-fifth 
May 15, 1985
	Company to Fidelity Bank,  
National Association
	Bonds of Pollution 
Control Series C*

    5

	
			
	

Supplemental Indenture  
      and Date   
	Parties
	Providing for:

	Fifty-sixth 
October 1, 1985
	Company to Fidelity Bank,  
National Association
	Bonds of Pollution 
Control Series D*

	Fifty-seventh 
November 15, 1985
	Company to Fidelity Bank,  
National Association
	Bonds of 10-7/8% Series 
due 1995*

	Fifty-eight 
November 15, 1985
	Company to Fidelity Bank,  
National Association
	Bonds of 11-3/4% Series 
due 2014*

	Fifty-ninth 
June 1, 1986
	Company to Fidelity Bank,  
National Association
	Bonds of Pollution 
Control Series E*

	Sixtieth 
November 1, 1986
	Company to Fidelity Bank,  
National Association
	Bonds of 10-1/4% Series 
due 2016*

	Sixty-first 
November 1, 1986
	Company to Fidelity Bank,  
National Association
	Bonds of 8-3/4% Series 
due 1994*

	Sixty-second 
April 1, 1987
	Company to Fidelity Bank,  
National Association
	Bonds of 9-3/8% Series 
due 2017*

	Sixty-third 
July 15, 1987
	Company to Fidelity Bank,  
National Association
	Bonds of 11% Series due 
2016*

	Sixty-fourth 
July 15, 1987
	Company to Fidelity Bank,  
National Association
	Bonds of 10% Series due 
1997*

	Sixty-fifth 
August 1, 1987
	Company to Fidelity Bank,  
National Association
	Bonds of 10-1/4% Series 
due 2007*

	Sixty-sixth 
October 15, 1987
	Company to Fidelity Bank,  
National Association
	Bonds of 11% Series due 
1997*

	Sixty-seventh 
October 15, 1987
	Company to Fidelity Bank,  
National Association
	Bonds of 12-1/8% Series 
due 2016*

	Sixty-eighth 
April 15, 1988
	Company to Fidelity Bank,  
National Association
	Bonds of 10% Series due 
1998*

	Sixty-ninth 
April 15, 1988
	Company to Fidelity Bank,  
National Association
	Bonds of 11% Series due 
2018*

	Seventieth 
June 15, 1989
	Company to Fidelity Bank,  
National Association
	Bonds of 10% Series due 
2019*

	Seventy-first 
October 1, 1989
	Company to Fidelity Bank,  
National Association
	Bonds of 9-7/8% Series 
due 2019*

	Seventy-second 
October 1, 1989
	Company to Fidelity Bank,  
National Association
	Bonds of 9-1/4% Series 
due 1999*

    6

	
			
	

Supplemental Indenture  
      and Date   
	Parties
	Providing for:

	Seventy-third 
October 1, 1989
	Company to Fidelity Bank,  
National Association
	Medium-Term Note 
Series A*

	Seventy-fourth 
October 15, 1990
	Company to Fidelity Bank,  
National Association
	Bonds of 10-1/2% Series 
due 2020*

	Seventy-fifth 
October 15, 1990
	Company to Fidelity Bank,  
National Association
	Bonds of 10% Series due 
2000*

	Seventy-sixth 
April 1, 1991
	Company to Fidelity Bank,  
National Association
	Bonds of Pollution 
Control Series F 
and Pollution 
Control Series G*

	Seventy-seventh 
December 1, 1991
	Company to Fidelity Bank,  
National Association
	Bonds of Pollution 
Control Series H*

	Seventy-eighth 
January 15, 1992
	Company to Fidelity Bank,  
National Association
	Bonds of 7-1/2% 1992 
Series due 1999*

	Seventy-ninth 
April 1, 1992
	Company to Fidelity Bank,  
National Association
	Bonds of 8% Series due 
2002*

	Eightieth 
April 1, 1992
	Company to Fidelity Bank,  
National Association
	Bonds of 8-3/4% Series 
due 2022*

	Eighty-first 
June 1, 1992
	Company to Fidelity Bank,  
National Association
	Bonds of Pollution 
Control Series I*

	Eighty-second 
June 1, 1992
	Company to Fidelity Bank,  
National Association
	Bonds of 8-5/8% Series 
due 2022*

	Eighty-third 
July 15, 1992
	Company to Fidelity Bank,  
National Association
	Bonds of 7-1/2% Series 
due 2002*

	Eighty-fourth 
September 1, 1992
	Company to Fidelity Bank,  
National Association
	Bonds of 8-1/4% Series 
due 2022*

	Eighty-fifth 
September 1, 1992
	Company to Fidelity Bank,  
National Association
	Bonds of 7-1/8% Series 
due 2002*

	Eighty-sixth 
March 1, 1993
	Company to Fidelity Bank,  
National Association
	Bonds of 6-5/8% Series 
due 2003*

	Eighty-Seventh 
March 1, 1993
	Company to Fidelity Bank,  
National Association
	Bonds of 7-3/4% Series 
due 2023*

    7

	
			
	

Supplemental Indenture  
      and Date   
	Parties
	Providing for:

	Eighty-eighth 
March 1, 1993
	Company to Fidelity Bank,  
National Association
	Bonds of Pollution 
Control Series J, 
Pollution Control 
Series K, Pollution 
Control Series L 
and Pollution Control 
Series M*

	Eighty-ninth 
May 1, 1993
	Company to Fidelity Bank,  
National Association
	Bonds of 6-1/2% Series 
due 2003*

	Ninetieth 
May 1, 1993
	Company to Fidelity Bank,  
National Association
	Bonds of 7-3/4% Series 
2 due 2023*

	Ninety-first 
August 15, 1993
	Company to First Fidelity Bank,  
N.A., Pennsylvania
	Bonds of 7-1/8% Series 
due 2023*

	Ninety-second 
August 15, 1993
	Company to First Fidelity Bank,  
N.A., Pennsylvania
	Bonds of 6-3/8% Series 
due 2005*

	Ninety-third 
August 15, 1993
	Company to First Fidelity Bank,  
N.A., Pennsylvania
	Bonds of 5-3/8% Series 
due 1998*

	Ninety-fourth 
November 1, 1993
	Company to First Fidelity Bank,  
N.A., Pennsylvania
	Bonds of 7-1/4% Series 
due 2024*

	Ninety-fifth 
November 1, 1993
	Company to First Fidelity Bank,  
N.A., Pennsylvania
	Bonds of 5-5/8% Series 
due 2001*

	Ninety-sixth 
May 1, 1995
	Company to First Fidelity Bank, 
N.A., Pennsylvania
	Medium Term Note Series B*

	Ninety-seventh 
October 15, 2001
	Company to First Union National Bank (formerly First Fidelity Bank, N.A., Pennsylvania)
	Bonds of  5.95% Series  
due 2011*

	Ninety-eighth
October 1, 2002
	Company to Wachovia Bank, National Association
	Bonds of 5.95% Series
Due 2011*

	Ninety-ninth
September 15, 2002
	Company to Wachovia Bank, National Association
	Bonds of 4.75% Series
Due 2012*

	One Hundredth 
April 15, 2003
	Company to Wachovia Bank, National Association
	Bonds of 3.50% Series
Due 2008*

	One Hundred and First
April 15, 2004
	Company to Wachovia Bank, National Association
	Bonds of 5.90% Series
Due 2034*

	One Hundred and Second
September 15, 2006
	Company to Wachovia Bank, National Association
	Bonds of 5.95% Series
Due 2036; amendment of certain provisions of Mortgage*

    8

	
			
	

Supplemental Indenture  
      and Date   
	Parties
	Providing for:

	One Hundred and Third
March 15, 2007
	Company to U.S. Bank National Association
	Bonds of 5.70% Series
Due 2037*

	One Hundred and Fourth
February 15, 2008
	Company to U.S. Bank National Association
	Bonds of 5.35% Series
Due 2018*

	One Hundred and Fifth
February 15, 2008
	Company to U.S. Bank National Association
	Bonds of Pollution  
Control Series N*

	One Hundred and Sixth
September 15, 2008
	Company to U.S. Bank National Association
	Bonds of 5.60% Series 
Due 2013*

	One Hundred and Seventh
March 15, 2009
	Company to U.S. Bank National Association
	Bonds of 5.00% Series 
Due 2014*

	One Hundred and Eighth
September 1, 2012
	Company to U.S. Bank National Association
	Bonds of 2.375% Series 
Due 2022*

	One Hundred and Ninth
September 15, 2013
	Company to U.S. Bank National Association
	Bonds of 1.200% Series 
Due 2016*

	One Hundred and Tenth
September 15, 2013
	Company to U.S. Bank National Association
	Bonds of 4.800% Series 
Due 2043*

	One Hundred and Eleventh
September 1, 2014
	Company to U.S. Bank National Association
	Bonds of 4.150% Series 
Due 2044*

	One Hundred and Twelfth
       September 15, 2015
	Company to U.S. Bank National Association
	Bonds of 3.15% Series 
Due 2025*

	One Hundred and Thirteenth
       September 1, 2016
	Company to U.S. Bank National Association
	Bonds of 1.700% Series 
Due 2021*

	One Hundred and Fourteenth
       September 1, 2017
	Company to U.S. Bank National Association
	Bonds of 3.700% Series 
Due 2047*

	One Hundred and Fifteenth
       February 1, 2018
	Company to U.S. Bank National Association
	Bonds of 3.900% Series 
Due 2048*

	*And amendment of certain provisions of the Ninth Supplemental Indenture.

    9

WHEREAS, the respective principal amounts of the bonds of each series presently outstanding under the Mortgage and the several supplemental indentures above referred to, are as follows:  
	
				
	Series
	 
	Principal Amount

	5.90%
	Series due 2034
	75,000,000
	

	5.95%
	Series due 2036 
	300,000,000
	

	5.70%
	Series due 2037 
	175,000,000
	

	2.375%
	Series due 2022
	350,000,000
	

	4.80%
	Series due 2043
	250,000,000
	

	4.150%
	Series due 2044
	300,000,000
	

	3.150%
	Series due 2025
	350,000,000
	

	1.700%
	Series due 2021
	300,000,000
	

	3.700%
	Series due 2047
	325,000,000
	

	3.900%
	Series due 2048
	325,000,000
	

	 
	Total
	2,750,000,000
	

WHEREAS, the Company deems it advisable and has determined, pursuant to Article XI of the Mortgage,
(a)    to convey, pledge, transfer and assign to the Trustee and to subject specifically to the lien of the Mortgage additional property not therein or in any supplemental indenture specifically described but now owned by the Company and acquired by it by purchase or otherwise; and
(b)    to issue an additional Three Hundred Twenty-Five Million Dollars ($325,000,000) in aggregate amount of the 3.900% Series due 2048 under, and secured by, the Mortgage, to be designated PECO Energy Company First and Refunding Mortgage Bonds, 3.900% Series due 2048, (hereinafter sometimes called the “Additional Bonds of the 3.900% Series” or the “bonds of the 3.900% Series due 2048”); and for the above-mentioned purposes to execute, deliver and record this Supplemental Indenture; 
WHEREAS, upon the issuance of the Additional Bonds of the 3.900% Series, the total outstanding aggregate principal amount of Bonds of 3.900% Series due 2048 shall be Six Hundred and Fifty Million Dollars ($650,000,000); and 
WHEREAS, all acts and things necessary to make the Additional Bonds of the 3.900% Series, when duly executed by the Company and authenticated by the Trustee as provided in the Mortgage and indentures supplemental thereto, and issued by the Company, the valid, binding and legal obligations of the Company, and this Supplemental Indenture a valid and enforceable supplement to the Mortgage, have been done, performed and fulfilled and the execution and delivery hereof have been in all respects duly and lawfully authorized.
NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH:

    10

That in order to secure the payment of the principal of and interest on all bonds issued and to be issued under the Mortgage and/or under any indenture supplemental thereto, according to their tenor and effect, and according to the terms of the Mortgage and of any indenture supplemental thereto, and to secure the performance of the covenants and obligations in the bonds and in the Mortgage and any indenture supplemental thereto respectively contained, and for the proper assuring, conveying, and confirming unto the Trustee, its successors in trust and its and their assigns forever, upon the trusts and for the purposes expressed in the Mortgage and in any indentures supplemental thereto, all and singular the estates, property and franchises of the Company thereby mortgaged or intended so to be, the Company, for and in consideration of the premises and of the sum of One Dollar ($1.00) in hand paid by the Trustee to the Company upon the execution and delivery of this Supplemental Indenture, receipt whereof is hereby acknowledged, and of other good and valuable consideration, has granted, bargained, sold, conveyed, released, confirmed, pledged, assigned, transferred and set over and by these presents does grant, bargain, sell, convey, release, confirm, pledge, assign, transfer, and set over to U.S. Bank National Association, as Trustee, and to its successors in trust and its and their assigns forever, all the following described property, real, personal and mixed of the Company, viz.:
All of the real property with any improvements thereon erected as may be owned by the Company and described in the Mortgage or in any indenture supplemental thereto as may heretofore have been executed, delivered and recorded, but excluding therefrom all real property heretofore released from the lien of the Mortgage.  The purpose of restating such prior conveyances as security is to confirm that the obligations of the Company as provided in this Supplemental Indenture are included within the lien and security of the Mortgage, and that public record be made of such purpose and fact by the recording of this Supplemental Indenture.
Together with all gas works, electric works, plants, buildings, structures, improvements and machinery located upon such real estate or any portion thereof, and all rights, privileges and easements of every kind and nature appurtenant thereto, and all and singular the tenements, hereditaments and appurtenances belonging to the real estate or any part thereof hereinbefore described or referred to or intended so to be, or in any way appertaining thereto, and the reversions, remainders, rents, issues and profits thereof; also all the estate, right, title, interest, property, possession, claim and demand whatsoever, as well in law as in equity, of the Company, of, in and to the same and any and every part thereof, with the appurtenances.
Also all the Company’s electric transmission and distribution lines and systems, substations, transforming stations, structures, machinery, apparatus, appliances, devices and appurtenances.
Also all the Company’s gas transmission and distribution mains, pipes, pipe lines and systems, storage facilities, structures, machinery, apparatus, appliances, devices and appurtenances.
Also all plants, systems, works, improvements, buildings, structures, fixtures, appliances, engines, furnaces, boilers, machinery, retorts, tanks, condensers, pumps, gas tanks, holders, reservoirs, expansion tanks, gas mains and pipes, tunnels, service pipe, pipe lines, fittings, gates, valves, connections, gas and electric meters, generators, dynamos, fans, supplies, tools and implements, tracks, sidings, motor and other vehicles, all electric light lines, electric power lines, transmission lines, distribution lines, conduits, cables, stations, substations, and distributing 

    11

systems, motors, conductors, converters, switchboards, shafting, belting, wires, mains, feeders, poles, towers, mast arms, brackets, pipes, lamps, insulators, house wiring connections and all instruments, appliances, apparatus, fixtures, fittings and equipment and all stores, repair parts, materials and supplies of every nature and kind whatsoever now or hereafter owned by the Company in connection with or appurtenant to its plants and systems for production, purchase, storage, transmission, distribution, utilization and sale of gas and its by‐products and residual products, and/or for the generation, production, purchase, storage, transmission, distribution, utilization and sale of electricity, or in connection with such business.
Also all the goodwill of the business of the Company, and all rights, claims, contracts, leases, patents, patent rights, and agreements, all accounts receivable, accounts, claims, demands, choses in action, books of account, cash assets, franchises, ordinances, rights, powers, easements, water rights, riparian rights, licenses, privileges, immunities, concessions and consents now or hereafter owned by the Company in connection with or appurtenant to its said business.
Also all the right, title and interest of the Company in and to all contracts for the purchase, sale or supply of gas, and its by‐products and residual products of electricity and electrical energy, now or hereafter entered into by the Company with the right on the part of the Trustee, upon the happening of an event of default as defined in the Mortgage as supplemented by any supplemental indenture, to require a specific assignment of any and all such contracts, whenever it shall request the Company to make the same.
Also all rents, tolls, earnings, profits, revenues, dividends and income arising or to arise from any property now owned, leased, operated or controlled or hereafter acquired, leased, operated or controlled by the Company and subject to the lien of the Mortgage and indentures supplemental thereto.
Also all the estate, right, title and interest of the Company, as lessee, in and to any and all demised premises under any and all agreements of lease now or at any time hereafter in force, insofar as the same may now or hereafter be assignable by the Company.
Also all other property, real, personal and mixed not hereinbefore specified or referred to, of every kind and nature whatsoever, now owned, or which may hereafter be owned by the Company (except shares of stock, bonds or other securities not now or hereafter specifically pledged under the Mortgage and indentures supplemental thereto or required to be pledged thereunder by the provisions of the Mortgage or any indenture supplemental thereto), together with all and singular the tenements, hereditaments and appurtenances thereunto belonging or in any way appertaining and the reversions, remainder or remainders, rents, issues and profits thereof; and also all the estate, right, title, interest, property, claim and demand whatsoever as well in law as in equity of the Company of, in and to the same and every part and parcel thereof.
It is the intention and it is hereby agreed that all property and the earnings and income thereof acquired by the Company after the date hereof shall be as fully embraced within the provisions hereof and subject to the lien hereby created for securing the payment of all bonds, together with the interest thereon, as if the property were now owned by the Company and were specifically described herein and conveyed hereby, provided nevertheless, that no shares of stock, bonds or 

    12

other securities now or hereafter owned by the Company, shall be subject to the lien of the Mortgage and indentures supplemental thereto unless now or hereafter specifically pledged or required to be pledged thereunder by the provisions of the Mortgage or any indenture supplemental thereto.
TO HAVE AND TO HOLD, all and singular the property, rights, privileges and franchises hereby conveyed, transferred or pledged or intended so to be, including after‐acquired property, together with all and singular the reversions, remainders, rents, revenues, income, issues and profits, privileges and appurtenances, now or hereafter belonging or in any way appertaining thereto, unto the Trustee and its successors in the trust hereby created, and its and their assigns forever;
IN TRUST NEVERTHELESS, for the equal and pro rata benefit and security of each and every person or corporation who may be or become the holders of bonds secured by the Mortgage and indentures supplemental thereto, without preference, priority or distinction (except as provided in Section 1 of Article VIII of the Mortgage) as to lien or otherwise of any bond of any series over or from any other bond, so that (except as aforesaid) each and every of the bonds issued or to be issued, of whatsoever series, shall have the same right, lien, privilege under the Mortgage and indentures supplemental thereto and shall be equally secured thereby and hereby, with the same effect as if the bonds had all been made, issued and negotiated simultaneously on the date of the Mortgage.
AND THIS SUPPLEMENTAL INDENTURE FURTHER WITNESSETH:
It is hereby covenanted that all bonds secured by the Mortgage and indentures supplemental thereto with the coupons appertaining thereto, are issued to and accepted by each and every holder thereof, and that the property aforesaid and all other property subject to the lien of the Mortgage and indentures supplemental thereto is held by or hereby conveyed to the Trustee, under and subject to the trusts, conditions and limitations set forth in the Mortgage and indentures supplemental thereto and upon and subject to the further trusts, conditions and limitations hereinafter set forth, as follows, to wit:
ARTICLE I

ADDITIONAL BONDS OF THE 3.900% SERIES
The Additional Bonds of the 3.900% Series shall be designated as hereinabove specified for such designation, subject however, to the provisions of Section 2 of Article I of the Mortgage, as amended, and are issuable only as registered bonds without coupons, substantially in the form hereinbefore recited.  Subject to the provisions of the Mortgage, the Additional Bonds of the 3.900% Series shall be issuable without limitation as to the aggregate principal amount thereof. 

    13

ARTICLE II. 
 
ISSUE AND AUTHENTICATION OF 
ADDITIONAL BONDS OF THE 3.900% SERIES
In addition to any bonds of any series which may from time to time be executed by the Company and authenticated and delivered by the Trustee upon compliance with the provisions of the Mortgage and/or of any indenture supplemental thereto, Additional Bonds of the 3.900% Series of an aggregate principal amount of $325,000,000 shall forthwith be executed by the Company and delivered to the Trustee, and the Trustee shall thereupon, whether or not this Supplemental Indenture shall have been recorded, authenticate and deliver said bonds to or upon the written order of the President, a Vice President, or the Treasurer of the Company, under the terms and provisions of paragraph (e) of Section 3 of Article II of the Mortgage, as amended.
ARTICLE III. 
 
CONCERNING THE TRUSTEE
The Trustee hereby accepts the trust herein declared and provided and agrees to perform the same upon the terms and conditions set forth in the Mortgage, as amended and supplemented, and upon the following terms and conditions:
The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity of this Supplemental Indenture or the due execution hereof by the Company or for or in respect of the recitals contained herein, all of which recitals are made by the Company solely.
ARTICLE IV. 
 
MISCELLANEOUS
Section 1.    Unless otherwise clearly required by the context, the term “Trustee,” or any other equivalent term used in this Supplemental Indenture, shall be held and construed to mean the trustee under the Mortgage for the time being whether the original or a successor trustee.
Section 2.    The headings of the Articles of this Supplemental Indenture are inserted for convenience of reference only and are not to be taken to be any part of this Supplemental Indenture or to control or affect the meaning of the same.
Section 3.    Nothing expressed or mentioned in or to be implied from this Supplemental Indenture or in or from the Additional Bonds of the 3.900% Series is intended, or shall be construed, to give any person or corporation, other than the parties hereto and their respective successors, and the holders of bonds secured by the Mortgage and the indentures supplemental thereto, any legal or equitable right, remedy or claim under or in respect of such bonds or the Mortgage or any indenture supplemental thereto, or any covenant, condition or provision therein or in this Supplemental Indenture contained. All the covenants, conditions and provisions thereof and hereof are for the 

    14

sole and exclusive benefit of the parties hereto and their successors and of the holders of bonds secured by the Mortgage and indentures supplemental thereto.
Section 4.    This Supplemental Indenture may be executed in several counterparts, each of which shall be an original and all collectively but one instrument.
Section 5.    This Supplemental Indenture is dated and shall be effective as of September 1, 2018, but was actually executed and delivered on September 4, 2018.

[Remainder of this page intentionally left blank]

    15

IN WITNESS WHEREOF, the Assistant Treasurer of the party of the first part and the President or a Vice President of the party of the second part, under and by the authority vested in them, have hereto affixed their signatures and their Secretaries or Assistant Secretaries have duly attested the execution hereof the 4th day of September, 2018.

PECO ENERGY COMPANY

By_/s/ ELISABETH GRAHAM_______
Elisabeth Graham
Assistant Treasurer

Attest_/s/ ELIZABETH HENSEN____
Elizabeth Hensen
Assistant Secretary

U.S. BANK NATIONAL ASSOCIATION, Trustee

By_/s/ GEORGE J. RAYZIS_______
George J. Rayzis
Vice President

Attest_/s/ GREGORY P. GUIM_____ 
Authorized Officer

    16

STATE OF ILLINOIS              : 
                          :  SS. 
COUNTY OF COOK                  :

 
    On this, the 4th day of September, 2018, before me, a Notary Public in and for the State of Illinois, the undersigned officer, personally appeared Elisabeth Graham who acknowledged herself to be the Assistant Treasurer of PECO Energy Company, a Pennsylvania corporation, and that she as such officer, being authorized to do so, executed the foregoing instrument for the purposes therein contained, by signing the name of the corporation by herself as such officer.
In witness whereof, I hereunto set my hand and official seal.

___/s/ MARIA D. MUNGULA_______
                            Notary Public
My Commission expires:
[NOTARIAL SEAL]

    17

COMMONWEALTH OF PENNSYLVANIA : 
                          :  SS. 
COUNTY OF PHILADELPHIA          :

 
    On this, the 4th day of September, 2018, before me, a Notary Public in and for the Commonwealth of Pennsylvania, the undersigned officer, personally appeared George J. Rayzis who acknowledged himself to be the Vice President of U.S. Bank National Association, a national banking association, as Trustee, and that he as such officer, being authorized to do so, executed the foregoing instrument for the purposes therein contained, by signing the name of the national banking association, as Trustee, by himself as such officer.
In witness whereof, I hereunto set my hand and official seal.

__/s/ MICHAEL JUDGE__________ 
                                    Notary Public
My Commission expires:
[NOTARIAL SEAL]

    18

CERTIFICATE OF RESIDENCE
U.S. Bank National Association, Mortgagee and Trustee within named, hereby certifies that its precise address in the City of Philadelphia is 50 South 16th Street, Philadelphia, Pennsylvania 19102.

U.S. BANK NATIONAL ASSOCIATION, 
Trustee

By_/s/ GEORGE J. RAYZIS_________
George J. Rayzis
Vice President

    19

PECO ENERGY COMPANY
TO
U.S. BANK NATIONAL ASSOCIATION, TRUSTEE
______________________ 
 

ONE HUNDRED AND SIXTEENTH SUPPLEMENTAL  
INDENTURE DATED AS OF  
SEPTEMBER 1, 2018 
 
TO
FIRST AND REFUNDING MORTGAGE
OF
THE COUNTIES GAS AND ELECTRIC  
COMPANY
TO
FIDELITY TRUST COMPANY, TRUSTEE 
DATED MAY 1, 1923
__________________

3.900% SERIES DUE 2048EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 1 
 TO
ARRANGEMENT AGREEMENT 
 This Amendment No. 1 to Arrangement Agreement (“Amendment”) is made as of September 10, 2018 

AMONG 
 Alithya Group Inc., a corporation existing under the
laws of Québec 
 -and- 
 9374-8572 Québec Inc.,
a corporation existing under the laws of Québec 
 -and- 

9374-8572 Delaware Inc., a corporation existing under the laws of Delaware 

-and- 
 Edgewater Technology, Inc., a corporation existing under
the laws of Delaware. 
 RECITALS 

A.    The Parties have previously entered into an Arrangement Agreement dated as of March 15, 2018 (the “Arrangement
Agreement”). 
 B.    The Parties now desire to amend the Arrangement Agreement in certain respects as provided herein. 

NOW, THEREFORE, the parties agree as follows: 

1.    Capitalized terms not otherwise defined in this Amendment shall have the meanings ascribed to them in the Arrangement Agreement.

 2.    Recital E of the Arrangement Agreement is hereby deleted in its entirety and replaced with the following: 

“For U.S. federal income tax purposes, the parties intend that the Merger and the Arrangement shall together qualify as a transaction
described in Section 351 of the Code (as defined herein).” 
 3.    The definitions of “Company Net Debt”,
“Current Assets”, “Current Liabilities”, “Outside Date”, “U.S. Merger Partner Net Cash” and “Working Capital Ratio” in Section 1.1 of the Arrangement Agreement
are hereby deleted in their entirety and replaced with the following: 
 “‘Company Current Assets’ means cash
and cash equivalents (including, for greater clarity, any proceeds raised by the Company prior to or contemporaneous with Closing pursuant to a private placement or public offering financing of the Company of securities of the Company or securities
convertible into securities of the Company or securities of CanCo Parent), accounts receivable (net of a provision for uncollectible accounts), unbilled contract amounts recognized as revenue under the percentage of completion method, prepaid
expenses and Tax receivables but excludes (i) deferred Tax assets; and (ii) receivables from any related parties (as the term “related party” is defined in MI 61-101;” 

“‘Company Funded Debt’ means, at Closing, the Company’s long-term debt (excluding any short-term debt);”

  
 1 

 “‘Current Liabilities’ means accounts payable and accrued expenses,
but excludes (i) deferred Tax liabilities; (ii) the current portion of long term debt; (iii) the current portion of deferred lease and other inducements; (iv) payables to any related parties (as the term “related party’
is defined in MI 61-101); and (v) any draw by U.S. Merger Partner on its revolving credit facility directly related to the funding of U.S. Merger Partner’s special dividend as declared and paid
pursuant to Section 5.12(c);” 
 “‘Outside Date’ means December 15, 2018 or such later date as may be
agreed to in writing by the Parties;” 
 “‘U.S. Merger Partner Current Assets’ means cash and cash
equivalents (as determined in accordance with U.S. GAAP, excluding, for greater clarity, any proceeds of the Debt Financing relating to U.S. Merger Partner’s special dividend as declared and paid pursuant to Section 5.12(c), but including
any restricted cash (other than from the proceeds of the Debt Financing) to the extent available for payment of such special dividend), accounts receivable (net of a provision for uncollectible accounts), unbilled contract amounts recognized as
revenue under the percentage of completion method, prepaid expenses and Tax receivables but excludes (i) deferred Tax assets; and (ii) receivables from any related parties (as the term “related party” is defined in MI 61-101);” 
 “‘U.S. Merger Partner Net Cash’ means, at Closing, U.S. Merger
Partner’s cash and cash equivalents (as determined in accordance with U.S. GAAP) (excluding, for greater clarity, any proceeds of the Debt Financing relating to U.S. Merger Partner’s special dividend as declared and paid pursuant to
Section 5.12(c) but including any restricted cash (other than from the proceeds of the Debt Financing) to the extent available for payment of such special dividend), but net of any outstanding funded debt (other than Debt Financing) and certain
then unpaid merger related costs as calculated in accordance with Schedule E;” 
 “‘Working Capital Ratio’ means,
(i) with respect to the Company, the result of the calculation of Company Current Assets divided by Current Liabilities, and (ii) with respect to U.S. Merger Partner, the result of the calculation of U.S. Merger Partner Current Assets
divided by Current Liabilities.” 
 4.    The following additional defined terms are hereby added to Section 1.1 of the
Arrangement Agreement: 
 “‘Closing U.S. Merger Partner Net Cash’ has the meaning given to it in Section 5.12(c)
of the Arrangement Agreement;” 
 “‘Estimated U.S. Merger Partner Closing Balance Sheet’ has the meaning given to
it in Section 5.12(b) of the Arrangement Agreement;” 
 “‘Special Dividend Declaration Date’ has the meaning
given to it in Section 5.12(c) of the Arrangement Agreement;” 
 5.    Section 2.1(j) of the Arrangement Agreement is hereby
deleted in its entirety and replaced with the following: 
 “U.S. Tax Treatment. The Parties intend that the Arrangement,
together with the transactions contemplated in Section 2.2, qualify as a transfer subject to Section 351 of the Code. The Parties shall (and each Party shall cause its respective Subsidiaries to) cooperate regarding such intended Tax
treatment and not take any position or action that is inconsistent with the foregoing, except to the extent otherwise required by applicable Tax Law.” 

6.    Section 2.2(i) of the Arrangement Agreement is hereby deleted in its entirety and replaced with the following: 

“U.S. Tax Treatment. The Parties intend that the Merger, together with the transactions contemplated in Section 2.1, qualify
as a transfer subject to Section 351 of the Code. The Parties shall (and each Party shall cause its respective Subsidiaries to) cooperate regarding such intended Tax treatment and not take any position or action that is inconsistent with the
foregoing, except to the extent otherwise required by applicable Tax Law.” 

  
 2 

 7.    Section 4.1(c)(iv) of the Arrangement Agreement is hereby deleted in its entirety
and replaced with the following: 
 “issue, grant, sell or pledge or authorize or agree to issue, grant, sell or pledge any Company
Common Shares or Company AA Shares or other securities of the Company or its Subsidiaries (including Options or any equity-based or equity-linked awards such as restricted or deferred share units or phantom share plans), or securities convertible
into or exchangeable or exercisable for, or otherwise evidencing a right to acquire, Company Common Shares or Company AA Shares or other securities of the Company or its Subsidiaries, other than the issuance of Company A Shares issuable pursuant to
the exercise of Options outstanding on the date of this Agreement or in accordance with the Company Share Purchase Plan or with the Company’s articles or pursuant to a private placement or public offering financing of the Company (on terms
mutually satisfactory to the Parties, each acting reasonably) of securities of the Company or securities convertible into securities of the Company or securities of CanCo Parent for aggregate gross proceeds of up to $50,000,000 completed prior to or
contemporaneous with the Closing;” 
 8.    Section 5.12(a) of the Arrangement Agreement is hereby deleted in its entirety and
replaced with the following: 
 “At Closing, the Company shall deliver a balance sheet with no more than US$15,850,000 of Company Funded
Debt calculated based on the Exchange Rate.” 
 9.    Section 5.12(b) of the Arrangement Agreement is hereby deleted in its
entirety and replaced with the following: 
 “U.S. Merger Partner shall deliver to the Company (i) at least 5 business days prior
to the Special Dividend Declaration Date, an estimated balance sheet forecasting the amount of the Closing U.S. Merger Partner Net Cash, calculated as per the normal course of business and in a manner consistent with prior periods, along with
details of the reasonable assumptions used and other supporting documentation in support of such estimated balance sheet and amount of the forecasted Closing U.S. Merger Partner Net Cash (the “Estimated U.S. Merger Partner Closing Balance
Sheet”), which shall be to the satisfaction of the Company, and assist the Company and U.S. Merger Partner in agreeing on the amount of Closing U.S. Merger Partner Net Cash to establish the exact amount of the special dividend in accordance
with Section 5.12(c). U.S. Merger Partner undertakes to cooperate and assist the Company, as the Company may reasonably request, with the verifications and review by the Company of the Estimated U.S. Merger Partner Closing Balance Sheet, and to
provide and/or make available to the Company all documents, evidence and/or other financial personnel of U.S. Merger Partner that the Company may reasonably request in order for it to complete such verifications and review. U.S. Merger Partner
further undertakes to immediately notify the Company of any material changes to the Estimated U.S. Merger Partner Closing Balance Sheet between the Special Dividend Declaration Date and the Closing Date.” 

10.    Section 5.12(c) of the Arrangement Agreement is hereby deleted in its entirety and replaced with the following: 

“On such date (the “Special Dividend Declaration Date”) as shall be mutually agreed by U.S. Merger Partner and the
Company prior to the Closing, U.S. Merger Partner shall declare a special dividend to the stockholders and holders of outstanding equity awards of U.S. Merger Partner of record as of the close of business on the Business Day immediately preceding
the anticipated Closing Date, which special dividend shall be contingent upon the Closing occurring (as well as that there be no restrictions remaining, after giving effect to the Closing, on the cash obtained to pay such special dividend pursuant
to the Debt Financing) and shall be in the aggregate amount of US$20,500,000, provided that: 
  

	 	(i)	 such special dividend shall increase dollar for dollar to the extent that the Closing U.S. Merger Partner Net
Cash is greater than US$8,500,000; and 

  

	 	(ii)	 such special dividend shall decrease dollar for dollar to the extent that the Closing U.S. Merger Partner Net
Cash is less than US$8,500,000. 

  
 3 

 The above special dividend may be paid in cash or reflected through adjustments to the
outstanding equity awards under equity compensation plans of U.S. Merger Partner, provided that in no event shall the total value of the cash special dividend paid plus the value of any such adjustments to outstanding equity awards (excluding, for
purposes of such determination, adjustments made to any U.S. Merger Partner Share Option that is determined to be out-of-the money on the basis of the exercise price of
such U.S. Merger Partner Share Option immediately prior to such adjustment as compared to the VWAP for the 10 consecutive trading days ending on the date immediately preceding the Special Dividend Declaration Date, and it being further understood in
respect of adjustments made to any U.S. Merger Partner Share Option that is determined to be in-the money on the basis of the exercise price of such U.S. Merger Partner Share Option immediately prior to such
adjustment as compared to the VWAP for the 10 consecutive trading days ending on the date immediately preceding the Special Dividend Declaration Date, that no treasury method reduction in U.S. Merger Partner Common Shares shall be made to reflect
any theoretical release of cash from the exercise of such U.S. Merger Partner Share Option) exceed the US$20,500,000 special dividend amount, as adjusted by the adjustment, if any, provided by clauses (i) and (ii) above. Furthermore, in order
to permit U.S. Merger Partner to comply with its reporting obligations for the special dividend under Rule 10b-17 under the 1934 Exchange Act and NASDAQ Market Rule 5250(e)(6), the Company and U.S. Merger
Partner shall mutually agree, on or prior to the Special Dividend Declaration Date, on the amount of U.S. Merger Partner Net Cash which shall be available to U.S. Merger Partner at the Closing (the “Closing U.S. Merger Partner Net
Cash”) and the resulting exact amount of the special dividend.” 
 11.    The last sentence of Section 5.14 of the
Arrangement Agreement is hereby deleted in its entirety and replaced with the following: 
 “For greater certainty, such Debt Financing
shall be on commercially reasonable terms customary for financings of this nature and shall include an option to repay such Debt Financing, in part or in full, following the Closing without penalty, the whole subject to prior approval by the
Company, acting reasonably.” 
 12.    Section 5.15 of the Arrangement Agreement is hereby deleted in its entirety and replaced
with the word “Reserved.” 
 13.    Section 8.2(e) of the Arrangement Agreement is hereby deleted in its entirety and
replaced with the following: 
 “the VWAP for the 10 consecutive trading days ending on the date immediately preceding the ex-dividend date for U.S. Merger Partner‘s special dividend declared and paid pursuant to Section 5.12(c) shall not be less than US$5.25 provided that, in the event such VWAP is less than US$5.25, U.S.
Merger Partner may instead satisfy this condition by proposing an Adjusted Equity Exchange Ratio (calculated using the formula in the definition of such term in Section 1.1) by written notice to the Company, provided that the calculation of
such Adjusted Equity Exchange Ratio is accepted by the Company, acting reasonably, by written notice to U.S. Merger Partner, in which case such Adjusted Equity Exchange Ratio shall replace the Equity Exchange Ratio for all purposes of this
Agreement;” 
 14.    Section 8.2(i) of the Arrangement Agreement is hereby deleted in its entirety and replaced with the word
“Reserved.” 
 15.    Section 8.3(f) of the Arrangement Agreement is hereby deleted in its entirety and replaced with
the word “Reserved.” 
 16.    Except as specifically provided for herein, the terms of the Arrangement Agreement shall
continue in full force and effect. 
 [The remainder of this page is left intentionally blank—Signature page follows] 

  
 4 

 IN WITNESS WHEREOF the Parties have caused this Agreement to be executed as of the date first written
above by their respective officers thereunto duly authorized. 
  

			
	ALITHYA GROUP INC.
		
	By:	 	 /s/ Paul Raymond

	Name:	 	Paul Raymond
	Title:	 	President and Chief Executive Officer

  

			
	9374-8572 QUÉBEC INC.
		
	By:	 	 /s/ Paul Raymond

	Name:	 	Paul Raymond
	Title:	 	President

  

			
	9374-8572 DELAWARE INC.
		
	By:	 	 /s/ Paul Raymond

	Name:	 	Paul Raymond
	Title:	 	President

  

			
	EDGEWATER TECHNOLOGY, INC.
		
	By:	 	 /s/ Jeffrey L. Rutherford

	Name:	 	Jeffrey L. Rutherford
	Title:	 	Chairman, Interim President and Interim Chief Executive Officer

  
 5

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