Document:

Restricted Stock Award Agreement

 EXHIBIT 10(iv) 
  
 THE BOEING COMPANY 
  
 RESTRICTED STOCK AWARD AGREEMENT 
 PURSUANT TO
THE BOEING COMPANY 2003 INCENTIVE STOCK PLAN 
  
 THIS AGREEMENT
(this “Agreement”) is made effective as of July 1, 2005 (the “Grant Date”), between The Boeing Company, a Delaware corporation (the “Company”), and W. James McNerney, Jr. (the
“Participant”). 
  
 R E C I T A L : 
  
 WHEREAS, the Company desires to grant to the Participant certain shares of
its restricted stock, $5.00 par value per share (“Restricted Stock”), under the Company’s 2003 Incentive Stock Plan (the “Plan”), which has been approved by its shareholders. 
  
 NOW THEREFORE, in consideration of the mutual covenants set forth herein, the
parties agree as follows: 
  
 1. Grant of the Restricted Stock
Award. Subject to the terms and conditions set forth in this Agreement and the Plan, the Company hereby grants to the Participant an Award consisting of 70,000 shares (each, a “Share”) of Restricted Stock, subject to adjustment
as set forth in Section 15 of the Plan. Any capitalized terms not defined herein shall have the same meaning as set forth in the Plan. Each Share shall vest and become unrestricted in accordance with Section 2 hereof and otherwise as set forth in
the Plan. 
  
 2. Vesting. 
  
 (a) The Award shall vest and become unrestricted at the rate of one-third of
the Award per each vesting date, for the period commencing on the Grant Date and ending on July 1, 2008, provided that the Participant is continuously employed with the Company through each such vesting date for such Shares to vest, as shown
immediately below (except as otherwise provided herein) (each a “Vesting Date”): 
  

			
	 Vesting Date

	  	Shares Vesting

	 July 1, 2006
	  	23,333
	 July 1, 2007
	  	23,334
	 July 1, 2008
	  	23,333

  
 (b) If the Company
shall undergo a Change in Control (as defined in Section 10(a) of the Participant’s Employment Agreement with the Company dated June 29, 2005 (the “Employment Agreement”)), any then-unvested Shares shall then vest and become
unrestricted if and to the extent that then-unvested Awards of Restricted Stock or Restricted Stock Units granted to other senior executives of the Company become vested thereupon. 
  
 (c) If the Participant’s employment with the Company is terminated (i) by the Company without Cause (as defined in
Section 7(c) of the Employment Agreement) or due to the Participant’s Disability (as defined in Section 7(a) of the Employment Agreement)), (ii) by the 

 Participant for Good Reason (as defined in Section 7(e) of the Employment Agreement) or (iii) due to the
Participant’s death, then any Shares of Restricted Stock unvested on the date of termination shall immediately fully vest and become unrestricted. 
  
 (d) If the Participant’s employment with the Company terminates for any reason other than as provided in Section 2(c) hereof, the portion of the
Award which is not vested as of the date of termination shall be forfeited by the Participant and such portion shall be cancelled by the Company. The Participant irrevocably grants to the Company the power of attorney to transfer any unvested Shares
forfeited to the Company and agrees to execute any document required by the Company in connection with such forfeiture and transfer. 
  
 (e) Upon the vesting of Shares of Restricted Stock pursuant to this Section 2, all restrictions on such vested Shares shall lapse and such Shares shall
become unrestricted and freely transferable. 
  
 3. Rights as a
Shareholder. The Company will issue the Shares by registering the Shares in book entry form with the Company’s transfer agent in the Participant’s name and the applicable restrictions will be noted in the records of the Company’s
transfer agent and in the book entry system. No certificate(s) representing all or a part of the Shares will be issued until the Shares become vested Shares. The Participant may exercise all voting rights with respect to the Shares of Restricted
Stock and shall be entitled to receive fully vested dividend equivalents in cash with respect to the Shares of Restricted Stock as and when declared and paid. 
  

4. No Right to Continued Employment. Without limiting the applicability of the Employment Agreement, this Agreement shall not be construed as
giving the Participant the right to be retained in the employ of the Company. 
  
 5. Transferability. The Shares subject to the Award and not then vested may not be transferred by the Participant other than by will or the laws of descent and distribution. Except to the extent permitted by
the foregoing, the Shares subject to the Award and not then vested may not be sold, transferred, assigned, pledged, hypothecated, encumbered or otherwise disposed of (whether by operation of law or otherwise) or be subject to execution, attachment
or similar process. Any attempt to so sell, transfer, assign, pledge, hypothecate, encumber or otherwise dispose of such Shares shall be null and void. 
  
 6. Withholding. By accepting the Award, the Participant agrees to make appropriate arrangements with the Company for the satisfaction of any
applicable federal, state or local income tax withholding requirements, including the payment to the Company of all such taxes and requirements in connection with the distribution or delivery of the Shares, or other settlement in respect of the
Shares, and the Company shall be authorized to take such action as may be necessary (including, without limitation, at the election of the Participant, withholding Shares otherwise deliverable to the Participant hereunder and/or withholding amounts
from any compensation or other amount owing from the Company to the Participant) to satisfy all obligations for the payment of such taxes; provided, however, that in no event shall the value of Shares so withheld by the Company exceed the minimum
withholding rates required by applicable statutes. 
  

 2 

 7. Section 83(b) Election. The Participant understands that under Section 83(a) of the Internal
Revenue Code of 1986, as amended (the “Code”), the excess of the fair market value of unvested Shares on the date the forfeiture restrictions lapse over the amount paid for such Shares on the Grant Date will be taxed, on the date
such forfeiture restrictions lapse, as ordinary income subject to payroll and withholding tax and tax reporting, as applicable. For this purpose, the term “forfeiture restrictions” means the right of the Company to receive back any
unvested Shares upon termination of the Participant’s employment with the Company. The Participant understands that the Participant may elect under Section 83(b) of the Code to be taxed at ordinary income rates on the fair market value of the
unvested Shares at the time they are acquired, rather than when and as the unvested Shares cease to be subject to the forfeiture restrictions. Such election (an “83(b) Election”) must be filed with the Internal Revenue Service
within 30 days from the Grant Date of the Award. The Participant understands that (a) the Participant will not be entitled to a deduction for any ordinary income previously recognized as a result of the 83(b) Election if the unvested Shares
are subsequently forfeited to the Company and (b) the 83(b) Election may cause the Participant to recognize more compensation income than Participant would have otherwise recognized if the value of the unvested Shares subsequently declines.

  
 THE FORM FOR MAKING AN 83(b) ELECTION IS ATTACHED TO THIS
AGREEMENT AS EXHIBIT B. THE PARTICIPANT UNDERSTANDS THAT FAILURE TO FILE SUCH AN ELECTION WITHIN THE 30-DAY PERIOD MAY RESULT IN THE RECOGNITION OF ORDINARY INCOME AS THE FORFEITURE RESTRICTIONS LAPSE.

  
 The Participant further understands that an additional
copy of such election form should be filed with the Participant’s federal income tax return for the calendar year in which the date of this Agreement falls. The Participant acknowledges that the foregoing is only a summary of the federal income
tax laws that apply to the Award of the Shares under this Agreement and does not purport to be complete. 
  
 THE PARTICIPANT FURTHER ACKNOWLEDGES THAT THE COMPANY HAS DIRECTED THE PARTICIPANT TO SEEK INDEPENDENT ADVICE REGARDING THE APPLICABLE PROVISIONS OF
THE CODE, THE INCOME TAX LAWS OF ANY MUNICIPALITY, STATE OR FOREIGN COUNTRY IN WHICH THE PARTICIPANT MAY RESIDE, AND THE TAX CONSEQUENCES OF THE PARTICIPANT’S DEATH. 
  
 The Participant agrees to execute and deliver to the Company with this Agreement a copy of the Acknowledgment and Statement
of Decision Regarding Section 83(b) Election attached hereto as Exhibit A. The Participant further agrees that the Participant will execute and deliver to the Company with this Agreement a copy of the 83(b) Election attached hereto as
Exhibit B if Participant chooses to make such an election. 
  
 8. Notices. For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given (a) on the date of delivery if
delivered by hand, (b) on the date of transmission, if delivered by confirmed facsimile, (c) on the first business day following the date of deposit if delivered by 
  

 3 

 guaranteed overnight delivery service, or (d) on the fourth business day following the date delivered or mailed by United
States registered or certified mail, return receipt requested, postage prepaid, addressed to the Company in care of its General Counsel and to the Participant at the address (or to the facsimile number) shown on the records of the Company.

  
 9. Failure to Enforce Not a Waiver. The failure of the
Company to enforce at any time any provision of this Agreement shall in no way be construed to be a waiver of such provision or of any other provision hereof. 
  

10. Authority of Committee. Subject to the Employment Agreement and Section 13 hereof, the Committee shall have full authority to interpret and
construe the terms of this Agreement. The determination of the Committee as to any such matter of interpretation or construction shall be final, conclusive and binding. 
  
 11. Choice of Law. The interpretation, performance and enforcement of this Agreement shall be governed by the laws of
the State of Illinois without regard to its conflicts of law principles. 
  
 12. Counterparts. This Agreement may be executed in two counterparts each of which shall be deemed an original and both of which together shall constitute one and the same instrument. Any facsimile of this
Agreement shall be considered an original document. 
  
 13.
Complete Agreement; Inconsistencies. The Award is made pursuant to the Plan, the terms of which are incorporated herein by reference. The Plan, this Agreement and those documents expressly referred to herein (including, without limitation,
the Employment Agreement) embody the complete agreement and understanding among the parties and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or oral, which may have related to the
subject matter hereof in any way. In the event of any conflict between the terms of the Plan and this Agreement, the terms of the Plan shall prevail. In the event of any conflict between the terms of the Employment Agreement and either this
Agreement or the Plan, the terms of the Employment Agreement shall prevail. 
  
 14. Successors and Assigns. This Agreement is intended to bind and inure to the benefit of and be enforceable by the Participant, the Company and their respective permitted successors and assigns (including
personal representatives, heirs and legatees), and is intended to bind all successors and assigns of the respective parties, except that the Participant may not assign any of the Participant’s rights or obligations under this Agreement except
to the extent and in the manner expressly permitted hereby. 
  
 [Signature Page Follows] 
  

 4 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed and the Participant has
hereunto set his hand, effective as of the Grant Date. 
  

			
	THE BOEING COMPANY
		
	By:	 	  

	Name:	 	  

	Its:	 	  

	
	  

 Participant: W. James
McNerney, Jr.

  

 5 

 EXHIBIT A 
  

ACKNOWLEDGMENT AND STATEMENT OF DECISION REGARDING 
 SECTION 83(b) ELECTION 
  
 The undersigned, a recipient
of 70,000 shares of Common Stock of The Boeing Company, a Delaware corporation (the “Company”), pursuant to a restricted stock award granted under the terms of the Company’s 2003 Incentive Stock Plan (the
“Plan”), hereby states as follows: 
  
 1. The
undersigned acknowledges receipt of a copy of the Restricted Stock Award Agreement and Plan relating to the offering of such shares. The undersigned has carefully reviewed the Plan and the Restricted Stock Award Agreement pursuant to which the award
was granted. 
  
 2. The undersigned either (check and complete
as applicable) 
  

	 	(a)          	has consulted, and has been fully advised by, the undersigned’s own tax advisor,
                                        ,
whose business address is
                                        ,
regarding the federal, state and local tax consequences of receiving shares under the Plan, and particularly regarding the advisability of making an election pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended (the
“Code”), and pursuant to the corresponding provisions, if any, of applicable state law, or 

  

	 	(b)          	has knowingly chosen not to consult such a tax advisor. 

  
 3. The undersigned hereby states that the undersigned has decided (check as applicable) 
  

	 	(a)          	to make an election pursuant to Section 83(b) of the Code, and is submitting to the Company, together with the undersigned’s executed Restricted Stock Award Agreement,
an executed form entitled “Election Under Section 83(b) of the Internal Revenue Code of 1986,” or 

  

	 	(b)          	not to make an election pursuant to Section 83(b) of the Code. 

  
 4. Neither the Company nor any subsidiary or representative of the Company has made any warranty or representation to the undersigned with respect to the
tax consequences of the undersigned’s acquisition of shares under the Plan or of the making or failure to make an election pursuant to Section 83(b) of the Code or the corresponding provisions, if any, of applicable state law. 
  
 [Signature page follows] 
  

 A-1 

			
	Dated:                     	  	  

 Recipient

		
	 	  	  

 Print
Name

  

 A-2 

 EXHIBIT B 
  

ELECTION UNDER SECTION 83(b) 
 OF THE
INTERNAL REVENUE CODE OF 1986 
  
 The undersigned taxpayer hereby
elects, pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to include in taxpayer’s gross income for the current taxable year the amount of any compensation taxable to taxpayer in connection with taxpayer’s receipt
of the property described below: 
  

	1.	The name, address, taxpayer identification number and taxable year of the undersigned are as follows: 

  

	
	 NAME OF
TAXPAYER:                                      
                   

	
	 ADDRESS:
                                        
                                     
 

	
	                    
                                        
                                      
 

	
	 IDENTIFICATION NO. OF TAXPAYER:
                            

	
	 TAXABLE YEAR:
                            

  

	2.	The property with respect to which the election is made is described as follows: 70,000 shares of Common Stock of The Boeing Company, a Delaware corporation (the
“Company”). 

  

	3.	The date on which the property was transferred is July 1, 2005. 

  

	4.	The property is subject to the following restrictions: 

  
 The property is subject to a forfeiture right pursuant to which the Company can reacquire the shares if taxpayer’s services with the Company are
terminated for certain reasons. The Company’s right to receive back the shares lapses in three equal annual installments beginning on July 1, 2006 and ending on July 1, 2008. 
  

	5.	The aggregate fair market value at the time of transfer, determined without regard to any restriction other than a restriction which by its terms will never lapse, of such property
is $                    
(                                        
dollars). 

  

	6.	The amount (if any) paid for such property is $0.00. 

  
 The undersigned has submitted a copy of this statement to the person for whom the services were performed in connection with the undersigned’s
receipt of the above-described property. The undersigned is the person performing the services in connection with the transfer of said property. 
  

 B-1 

 The undersigned understands that the foregoing election may not be revoked except with the consent of
the Commissioner of Internal Revenue. 
  

			
	Dated:                     	  	  

 Taxpayer

  

 B-2 

 DISTRIBUTION OF COPIES 
  

	1.	File original with the Internal Revenue Service Center where the taxpayer’s income tax return will be filed. Filing must be made by no later than 30 days after the date the
property was transferred. 

  

	2.	Attach one copy to the taxpayer’s income tax return for the taxable year in which the property was transferred. 

  

	3.	Mail one copy to the Company at the following address: 

  
 The Boeing Company 
 ATTN: Mark R. Pacioni

 Assistant Corporate Secretary and Counsel 
 100 N. Riverside MC 5003-1001 
 Chicago, IL 60606-1596Agreement, dated July 22, 2005 between Con Edison and Kevin Burke

 Exhibit 10.1 
  
 July 22, 2005 
  
 Mr. Kevin Burke 
 c/o Consolidated Edison, Inc. 
 4 Irving Place 
 New York, New York 10003 
  
 Dear Kevin: 
  
 The Board of Directors (the “Board”) of Consolidated Edison, Inc. (the “Company”) has
elected you, and is delighted that you will be assuming the position of, Chief Executive Officer (“CEO”) of the Company, effective as of September 1, 2005. The following outlines certain of the terms and conditions of your continued
employment with the Company. 
  
 1. During the period commencing
on September 1, 2005 and ending December 31, 2008 (the “Initial Employment Period”), you will be employed as the CEO of the Company, reporting directly to the Board. The Initial Employment Period shall be automatically extended
without further action of either party for additional one year periods, unless you or the Company provides the other with written notice of non-renewal at least 180 days prior to the expiration of the Initial Employment Period or any such one year
extension. Collectively, the Initial Employment Period and each such extension (if any) are herein referred to as the “Term.” In your capacity as CEO, you shall have the authorities and duties commensurate with that position and
such other authority and duties commensurate with your position, as determined by the Board. During the Term, the Board shall nominate you for election to the Board. Subject to the next sentence, you agree to devote your full attention, time and
efforts during normal business hours to the business and affairs of the Company and to the performance of your duties in accordance with the Company’s policies and procedures. You may (a) serve on corporate, civic or charitable boards or
committees, (b) deliver lectures or fulfill speaking engagements and (c) manage personal investments, so long as such activities do not interfere with the performance of your responsibilities as CEO and are in compliance with the Company’s
policies and procedures. 
  
 2. Your base salary, annual incentive
compensation and long-term incentive compensation shall be determined by the Management Development and Compensation Committee of the Company on an annual basis. Your initial base salary shall be $925,000.00. Your target annual bonus under the
Executive Incentive Plan for the year 2005 as CEO shall be 100% (and your maximum bonus shall be 150%) of your base salary, pro-rated for the period September 1, 2005 through December 31, 2005 (with you receiving a pro-rated bonus for the period
January 1, 2005 to August 31, 2005 based on your base salary and bonus percentages in effect prior to September 1, 2005). You shall also receive an award under the Company’s Long Term Incentive Plan (“LTIP”), the terms and
conditions of which shall be governed by the LTIP and an award agreement under the LTIP. You will also be eligible to participate in all of the 

 Company’s plans, practices, policies and programs, and to receive all fringe benefits and perquisites, generally
available to senior executives of the Company on terms and conditions that are commensurate with your position as CEO. In the event your employment is terminated by the Company without Cause (as defined below), by you with or without Good Reason (as
defined below) or in connection with a non-renewal of this Agreement, and the treatment of any of your benefits or awards upon retirement is more favorable to you than would otherwise be the case based on the grounds for your termination of
employment, you shall be entitled on a benefit by benefit basis to such more favorable retirement treatment. 
  
 3. The Company agrees that it will amend the Company’s Severance Program for Officers (the “Severance Program”), effective as of
September 1, 2005, to provide you the following benefits during the Term of this Agreement: 
  
 (a) In the event that the Company terminates your employment without Cause (as defined in Exhibit A) or you terminate your employment for Good Reason (as defined in Exhibit A), subject to your executing a written
release substantially in the form of Annex 1 to the Severance Program (as revised to provide that you are not releasing any rights of indemnification or to directors and officers liability insurance coverage or any amounts due hereunder upon a
termination): 
  
 (i) Subject to subparagraph
(ii) below, the Company shall provide you with the severance benefits set forth in Section III.A.1. of the Severance Program, except that the number two shall be substituted for the number one in Sections III.A.1.a.(2), b., c. and d. 
  
 (ii) In the event of a Termination Upon a Change in Control
(as defined in the Severance Program), the Company shall provide you with the benefits set forth in Section III.A.2. of the Severance Program, except that references to the number two shall be increased to three and you shall be treated as incurring
a Termination Upon a Change in Control if you are terminated without Cause or terminate for Good Reason within six months prior to, and in connection with or in contemplation of, a Change in Control. 
  
 (b) In the event your employment is terminated for Cause or you terminate
your employment without Good Reason, you shall be entitled to the your Base Compensation (as defined in the Severance Program) and any accrued vacation pay, in each case to the extent not previously paid and the Other Benefits, as defined under the
Severance Program, but for purposes of this Agreement also including any unpaid bonus for any completed prior fiscal year (unless the terms of such Other Benefits provide for forfeiture upon termination for Cause or termination for other than Good
Reason). 
  
 (c) In the event your employment terminates by reason
of your death, your estate or beneficiary shall be paid, as applicable, in a lump sum in cash within 30 days of the date of termination, the Accrued Obligations (as defined in the Severance Program) and the Other Benefits. 
  
 (d) In the event your employment is terminated by reason of your Disability
(as defined in Exhibit A), you shall be entitled to receive all Accrued Obligations in a lump sum in cash within 30 days of the termination of your employment and the Other Benefits in accordance with their terms. 
  

 2 

 Except to the extent otherwise provided in this Agreement, the terms of the Severance Program as in
effect on the date hereof shall govern your rights on termination of your employment during the Term. The Company further agrees that notwithstanding any amendments to the Severance Program, if your employment terminates during the Term, you shall
be entitled to the payments and benefits provided under the Severance Program as in effect on the date hereof, and as amended pursuant to the provisions of this Agreement. Notwithstanding anything in the Severance Program to the contrary, the
definitions of “Cause”, “Good Reason” and “Disability” and the notice and cure provisions set forth in Appendix A shall govern your rights upon termination of your employment during the Term. The Company also agrees
that in the event of a termination of your employment other than for Cause by the Company, all amounts mandatorily deferred under the Company’s Executive Incentive Plan shall be immediately vested and nonforfeitable and paid to you in
accordance with your payment election then in effect. 
  
 4. In
the event your employment is terminated in connection with a non-renewal of the Term by the Company, you shall be entitled to the benefits provided in Section III.A.1. of the Severance Program as in effect on the date hereof (without regard to the
amendments provided for under this Agreement). You shall also be treated as a retiree for purposes of equity awards granted to you under the LTIP and other plans, programs and arrangements of the Company. 
  
 5. The Company agrees that upon termination of your employment, the
equity-based awards granted to you prior to or during the Term under the LTIP or other equity-based compensation plan of the Company shall be treated as follows (whether such termination occurs during or after the Term): 
  
 (a) In the event that the Company terminates your employment without Cause
or you terminate your employment for Good Reason (regardless of whether such termination of employment occurs in connection with a Change in Control), (i) any performance-based equity awards granted to you prior to or during the Term shall (A) fully
vest and (B) be paid out within 30 days of the date your employment terminates as if targeted performance had been achieved through the applicable performance period; and (ii) any non-performance-based equity awards granted to you prior to or during
the Term, including restricted stock awards, restricted stock unit awards, options and stock appreciation rights, shall fully vest and (A) be paid out within 30 days of the date your employment terminates or (B) (x) in the case of options granted to
you prior to April 19, 2001 be exercisable until the third anniversary of the date your employment terminates and (y) in the case of options or stock appreciation rights granted to you after April 19, 2001, be exercisable until the tenth anniversary
of the grant date, provided, however, that in no event shall such options or stock appreciation rights be exercisable beyond the expiration of their respective terms. 
  
 (b) In the event that you terminate your employment without Good Reason, as a result of non-renewal of the Agreement, or as
a result of your death or Disability, (i) any performance-based equity awards granted to you shall (A) vest pro-rata based on the number of 
  

 3 

 full months that have elapsed from the date of grant of such award to the date of your termination of employment; (B) be
payable at the time such award would otherwise have been paid had your employment not terminated; and (C) be based on the Company’s achievement of applicable performance criteria through the end of the applicable performance period, (ii) any
non-performance-based restricted stock or restricted stock unit awards granted to you prior to or during the Term shall vest pro-rata based on the number of full months that have elapsed from the date of grant of such award to the date of
termination of your employment and be paid out within 30 days of the date your employment terminates, and (iii)(A) in the case of options granted prior to April 19, 2001, such options shall be exercisable until the third anniversary of the date your
employment terminates and (y)(B) in the case of options or stock appreciation rights granted after April 19, 2001, such options or stock appreciation rights shall be exercisable until the tenth anniversary of the grant date, provided,
however, that in no event shall such options or stock appreciation rights be exercisable beyond the expiration of their respective terms. 
  
 (c) In the event your employment is terminated by the Company for Cause, any equity awards granted to you prior to or during the Term under the LTIP or
other equity based compensation plan of the Company shall be forfeited in their entirety (regardless of whether such awards are vested). 
  
 6. Notwithstanding anything in the Severance Program to the contrary, if any payments or benefits made to you under this Agreement or otherwise constitute
“parachute” payments within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), you shall be entitled to the additional payments and benefits set forth in Appendix B. 
  
 7. You understand that you hold in a fiduciary capacity for the benefit of
the Company all confidential information, knowledge or data (defined below) relating to the Company or any of its affiliates or subsidiaries, and their respective businesses, which you obtain during your employment by the Company or any of its
affiliated companies and which shall not be or become public knowledge (other than by acts by you or your representatives in violation of this Agreement). During the Term, you may disclose such information as (a) you in good faith determine is
necessary or appropriate in connection with the furtherance of the business of the Company; provided, however, that you shall not disclose such information if disclosure would violate securities laws, rules or regulations or any
agreement with a third party or (b) is in response to legal process or governmental inquiry. Upon termination of your employment, you shall return to the Company, all Company information. After termination of your employment, you will not without
the prior written consent of the Company or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than the Company and those designated by it, except (x) otherwise
publicly available information, or (y) as may be necessary to enforce your rights under this Agreement or necessary to defend yourself against a claim asserted directly or indirectly by the Company or its affiliates, or (z) in compliance with legal
process or governmental inquiry. As used herein, the term “confidential information, knowledge or data” means all trade secrets, proprietary and confidential business information belonging to, used by, or in the possession of the Company
or any of its affiliates and subsidiaries, including but not limited to information, knowledge or data related to business strategies, plans and financial information, mergers, acquisitions or 
  

 4 

 consolidations, purchase or sale of property, leasing, pricing, sales programs or tactics, actual or past sellers,
purchasers, lessees, lessors or customers, those with whom the Company or its affiliates and subsidiaries has begun negotiations for new business, costs, employee compensation, marketing and development plans, inventions and technology, whether such
confidential information, knowledge or data is oral, written or electronically recorded or stored, except information in the public domain, information known by you prior to employment with the Company, information received by you from sources other
than the Company or its affiliates or subsidiaries, without obligation of confidentiality and your rolodex and similar address books. 
  
 8. The confidential knowledge, information and data, as defined in the previous paragraph, gained in the performance of your duties hereunder may be
valuable to those who are now, or might become, competitors of the Company or its affiliates and subsidiaries. Accordingly, you agree that you will not, for the period of two years from the date of termination of your employment for any reason,
(other than in connection with a non-renewal of the Term in which case the applicable period shall be one year from the date of termination of your employment), directly own, manage, operate, join, control, become employed by, consult to or
participate in the ownership, management, or control of any company that competes with Consolidated Edison Company of New York, Inc., Orange and Rockland Utilities, Inc. or other regulated business of the Company, or other than with the consent of
the Company which shall not be unreasonably withheld, any other material business of the Company, provided that the foregoing shall not prevent you from owning less than two (2%) of the stock of any publicly traded company. Further, you agree that
for a period of two years following the date of termination of your employment (other than in connection with a non-renewal of the Term in which case the applicable period shall be one year from the date of termination of your employment), you will
not, directly or indirectly, solicit or hire, or encourage the solicitation or hiring of any person who was a managerial or higher level employee of the Company at any time during the term of your employment by the Company by any employer other than
the Company for any position as an employee, independent contractor, consultant or otherwise. The foregoing agreement in the immediately preceding sentence shall not apply to any person after six (6) months have elapsed subsequent to the date on
which such person’s employment by the Company has terminated. You shall also not be prohibited from serving as a reference for an employee with regard to an entity with which you are not affiliated or generally advertising for employees,
provided such advertising is not targeted at employees of the Company. In the case of any material violations of any activity prohibited under this paragraph 8, you shall (a) not be entitled to post-employment payments under the Severance Program or
this Agreement; (b) forfeit any unvested equity awards granted to you under the LTIP; and (c) return or repay to the Company a portion of any equity awards that vested or paid out during the two-year period immediately preceding such prohibited
activity which is equal to the amount of such equity award that vested or paid out within such two year period (valued as of the date such equity award vested or paid out) times a fraction, the numerator of which is the number of months from the
commencement of such activity to the date that is twenty-four months after the date of termination of your employment, and the denominator of which is twenty-four. 
  
 9. In the event of a breach by you of any of the agreements set forth in paragraphs 7 or 8 above, it is agreed that the
Company shall suffer irreparable harm for which money damages are not an adequate remedy, and that, in the event of such breach, the Company shall be entitled to obtain an order of a court of competent jurisdiction for equitable relief from

  

 5 

 such breach, including, but not limited to, temporary restraining orders and preliminary and/or permanent injunctions
against the breach of such agreements by you. In the event that the Company should initiate any legal action for the breach or enforcement of any of the provisions contained in Sections 7 or 8 and the Company does not prevail in such action, you
shall be reimbursed for the full amount of any court costs, filing fees, attorney’s fees which you reasonably incur in defending such action, and any loss of income during the period of such litigation. 
  
 10. To the fullest extent permitted by applicable law, the Company shall (a)
indemnify you as an officer or director of the Company or a trustee or fiduciary of an employee benefit plan of the Company against all liabilities and reasonable expenses that you may incur in any threatened, pending, or completed action, suit or
proceeding, whether civil, criminal or administrative, or investigative and whether formal or informal, because you are or were an officer or director of the Company or a trustee or fiduciary of such employee benefit plan, (b) pay for or reimburse
your reasonable expenses incurred in the defense of any proceeding to which you are a party because you are or were an officer or director of the Company or a trustee or fiduciary of such employee benefit plan and (c) if the Company maintains
directors and officers liability insurance, to cover you under such insurance to the same extent as its other officers and directors. Your rights under this paragraph 10 shall survive the termination of your employment by the Company. 
  
 11. Except with respect to equitable relief provided for in paragraph 9, any
dispute about the validity, interpretation, effect or alleged violation of this Agreement shall be resolved by confidential binding arbitration to be held in New York, New York, in accordance with the Commercial Arbitration Rules of the American
Arbitration Association. Judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereover. All costs and expenses incurred by the Company or you or your beneficiaries in connection with any such
controversy or dispute, including without limitation reasonable attorney’s fees, shall be borne by the Company as incurred, except that you shall be responsible for any such costs and expenses incurred in connection with any claim determined by
the arbitrator(s) to have been brought by you without reasonable basis or to have been brought in bad faith. You shall be entitled to interest at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the Code, on any delayed payment
which the arbitrator(s) determines you are entitled to under this Agreement. 
  
 12. This Agreement is personal to you and without the prior written consent of the Company may not be assigned otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit
of and be binding upon and enforceable by your legal representatives. This Agreement shall inure to the benefit of and be binding upon and enforceable by the Company and its successors and assigns, provided that the Company may only assign this
Agreement to a successor satisfying the requirements of paragraph 13 below. 
  
 13. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly
and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place in a writing promptly delivered to you upon such assignment. 
  

 6 

 14. Miscellaneous. 
  
 (a) No Mitigation. Except as provided under paragraph 8 and except to the extent that a court under paragraph 9 or an
arbitrator appointed under paragraph 11 shall determine to permit an offset in respect of your violation of paragraphs 7 or 8, the Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations
hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against you or others. In no event shall you be obligated to seek other employment or take any other action
by way of mitigation of the amounts payable to you under the provisions of this Agreement, and except as provided in the Severance Program with respect to certain medical, prescription and dental benefits, such amounts shall not be reduced whether
or not you obtain other employment. 
  
 (b) Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements executed and performed entirely therein. 
  
 (c) Notices. All notices and other communications hereunder shall be in writing and shall be given by hand delivery
to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

			
	                 If to Kevin Burke:
	 	4 Irving Place
	 	 	New York, NY 10003
		
	                 If to the Company:
	 	4 Irving Place
	 	 	New York, NY 10003
	 	 	Attention: General Counsel

  
                 or to such other address as either party shall have furnished to the other in writing. 
  
 (d) Invalidity. The invalidity or unenforceability of any provision of
this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. If any provision of this Agreement shall be held invalid or unenforceable in part, the remaining portion of such provision, together with all
other provisions of this Agreement, shall remain valid and enforceable and continue in full force and effect to the fullest extent consistent with law. 
  
 (e) Tax Withholding. Notwithstanding any other provision of this Agreement, the Company may withhold from any amounts payable under this Agreement
such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
  
 (f) Failure to Assert Rights. The Company’s or your failure to insist upon strict compliance with any provisions of, or to assert any right
under, this Agreement shall not be deemed to be a waiver of such provision or right or of any other provision or right under this Agreement. 
  

 7 

 (g) Entire Agreement/Modification. This Agreement supersedes the Agreement dated September 1, 2000
between you and the Company and represents the complete agreement between you and the Company relating to your employment and termination, except for your rights under plans, programs and grants. This Agreement may not be altered or changed except
by written agreement executed by the parties hereto or their respective successors or legal representatives. 
  
 JOBS Act Compliance. In the event that you are considered a “Specified Employee” as defined in Section 409A of the Internal Revenue Code
of 1986, as amended and the regulations thereunder (the “Jobs Act”), and any payments to you under this Agreement (including pursuant to the Severance Program) are considered “deferred compensation” under the Jobs Act and
of a type requiring payments six months after the date of your separation from service, to the extent required by the Jobs Act such payment shall be delayed until six (6) months after the date of your separation from service (within the meaning of
the Jobs Act). If any provision of this Agreement would result in unintended or adverse tax consequences to you or would contravene the regulations anticipated to be promulgated under the JOBS Act or other Department of Treasury guidance, the
parties shall reform this Agreement or any provisions hereof to maintain to the maximum extent practicable the original purpose of the provision without violating the provisions of the JOBS Act or creating unintended or adverse tax consequences to
you. 
  
 Please confirm your acceptance of the foregoing by
signing and returning a copy of this letter to the undersigned no later than July 29, 2005. This Agreement shall not be effective until you executive and deliver a copy of it to the Company. 
  
 Yours sincerely, 
  

			
	CONSOLIDATED EDISON, INC.
		
	By:	 	 /s/ George Campbell, Jr.

	 	 	George Campbell, Jr.
	 	 	Chairman, Management Development and
	 	 	Compensation Committee
	
	Agreed and accepted:
	
	 /s/ Kevin Burke

 Kevin Burke

  

 8 

 Appendix A 
  
 Definitions 
  
 “Cause” means (i) your willful and continued failure to substantially perform your duties as CEO; or (ii) your conviction of a felony or entering of a
plea of nolo contendere to a felony, in either case having a significant adverse effect on the business and affairs of the Company; or (iii) a finding by a regulatory or judicial body that has relevant jurisdiction or the entering into of a consent
decree or a plea of nolo contendere to a violation by you of the requirements of the Sarbanes-Oxley Act of 2002, or with regard to the Company, other Federal or state securities law, rule or regulation. No act or failure to act shall be considered
“willful” unless it is done, or omitted to be done, by you in bad faith or without reasonable belief that your action or omission was in the best interests of the Company. Any act or failure to act that is based upon authority given
pursuant to a resolution duly adopted by the Board, or the advice of counsel for the Company, shall be conclusively presumed to be done, or omitted to be done, by you in good faith and in the best interests of the Company. 
  
 A termination of your employment for Cause shall be effected in accordance with the following
procedures. The Company shall give you written notice (“Notice of Termination for Cause”), of its intention to terminate your employment for Cause, setting forth in reasonable detail the specific conduct that it considers to
constitute Cause. Such notice shall be given no later than 60 days after the Company has actual knowledge of the act or failure (or the last in a series of acts or failures) that the Company alleges to constitute Cause. You shall have 30 days after
receiving the Notice of Termination for Cause in which to cure such act or failure, to the extent such cure is possible. If you fail to cure such act or failure to the reasonable satisfaction of the Board, the Company shall give you a second written
notice stating the date, time and place of a special meeting of the Board called and held specifically for the purpose of considering your termination for Cause, which special meeting shall take place not less than ten and not more than twenty
business days after you receive notice thereof. You shall have the opportunity, together with counsel, to be heard at the special meeting of the Board. Your termination for Cause shall be effective when and if a resolution is duly adopted at such
special meeting by the affirmative vote of a majority of the Board stating that in the good faith opinion of the Board, you are guilty of the conduct described in the Notice of Termination for Cause and that such conduct constitutes Cause as defined
above. 
  
 “Disability” means that (A) you are (i) unable to
engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months or (ii) by reason
of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than
three months under an accident and health plan covering employees of the Company and (B) you have not been able to perform your material duties and responsibilities for the period specified within the definition of “Disability” in the
Severance Program. 
  

 A-1 

 “Good Reason” means (i) any adverse change in your titles, authority, duties, responsibilities and
reporting lines (including any failure to nominate you for election to the Board), or the assignment to you of any duties or responsibilities inconsistent in any respect with those customarily associated with the position of CEO; or (ii) the
appointment, without your consent, of any person other than you to the position of CEO or any other position or title conferring similar status or authority; or (iii) any reduction in your salary, target annual bonus, target long-term incentive or
retirement benefit; or (iv) any requirement by the Company that your services be rendered primarily at an office or location that is more than 50 miles from your office or location as of the date of this Agreement; or (v) any purported termination
of your employment for a reason or in a manner not expressly permitted by the Agreement; or (vi) any failure by a successor of the Company to assume the Agreement; or (vii) any other material breach of the Agreement by the Company that either is not
taken in good faith or, even if taken in good faith, is not remedied by the Company promptly after receipt of notice thereof from you. 
  
 A termination of your employment for Good Reason shall be effectuated by giving the Company written notice (“Notice of Good Reason”) of the Good Reason
event, setting forth in reasonable detail the specific acts or omissions of the Company that constitute Good Reason and the specific provision(s) of the this Agreement on which you rely. Unless the Board determines otherwise, you must give the
Company a Notice of Good Reason within 60 days after you have actual knowledge of the act or omission (or the last in a series of acts or omissions) that you allege constitutes Good Reason, and the Company shall have 30 days from the receipt of such
Notice of Good Reason to cure the conduct cited therein, provided that such conduct is not conduct that previously had to be cured by the Company as a result of a Notice of Good Reason. You may terminate your employment for Good Reason upon further
written notice given within thirty (30) days after the final day of such 30-day cure period unless prior to the end of the initial 30-day period the Company has cured the specific conduct asserted to constitute Good Reason to your reasonable
satisfaction (unless the notice sets forth a later date (which date shall in no event be later than 30 days after the notice is given)). 
  

 A-2 

 Appendix B 
  
 Tax Gross-Up Provision 
  
 (a) In the event it shall be determined that any payment or distribution by the Company to or for your benefit (whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Appendix B (a “Payment”) would be subject to the excise tax imposed by Section 4999 of
the Code or any interest or penalties are incurred by you with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then you shall
be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by you of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation,
any income and employment taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, you shall retain an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments.

  
 (b) Subject to the provisions of subsection (c), all
determinations required to be made under this Appendix B, including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such determination, shall be made by the
Company’s independent auditors or such other certified public accounting firm as may be jointly designated you and by the Company (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company
and to you. All fees and expenses of the Accounting Firm shall be borne solely by the Company. Any Gross-Up Payment, as determined pursuant to this Appendix B, shall be paid by the Company to you within 15 days of the receipt of the Accounting
Firm’s determination. Any determination by the Accounting Firm shall be binding upon the Company and you. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting
Firm hereunder, it is possible that Gross-Up Payments which will not have been made by the Company should have been made (“Underpayment”), consistent with the calculations required to be made hereunder. In the event that the Company
exhausts its remedies pursuant to Appendix B, and you thereafter are required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid
by the Company to you or for your benefit. 
  
 (c) You shall
notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require the payment by the Company of the Gross-Up Payment. Such notification shall be given as soon as practicable but no later than ten business
days after you are informed in writing of such claim and shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. You shall not pay such claim prior to the expiration of the 30-day period
following the date on which you give such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies you in writing prior to the expiration of such period
that it desires to contest such claim, you shall: 
  
 (i) give the Company any information reasonably requested by the Company relating to such claim, 
  

 B-1 

 (ii) take such action in connection with contesting such claim as the Company shall
reasonably request in writing from time to time, including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company, 
  
 (iii) cooperate with the Company in good faith in order
effectively to contest such claim, and 
  
 (iv)
permit the Company to participate in any proceedings relating to such claim; 
  
 provided however, that the Company shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred in connection with such contest and shall indemnify and hold you harmless, on an
after-tax basis, for any Excise Tax or income tax (including interest and penalties with respect thereto) imposed as a result of such representation and payment of costs and expenses. Without limitation on the foregoing provisions of this Appendix
B, the Company shall control all proceedings taken in connection with such contest and, at its sole option, may pursue or forgo any and all administrative appeals, proceedings, hearings and conferences with the taxing authority in respect of such
claim and may, at its sole option, either direct you to pay the tax claimed and sue for a refund or contest the claim in any permissible manner, and you agree to prosecute such contest to a determination before any administrative tribunal, in a
court of initial jurisdiction and in one or more appellate courts, as the Company shall determine; provided however, that if the Company directs you to pay such claim and sue for a refund, the Company shall advance the amount of such
payment to you, on an interest-free basis and shall indemnify and hold you harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with respect to such advance or with respect
to any imputed income with respect to such advance; and further provided that any extension of the statute of limitations relating to payment of taxes for your taxable year with respect to which such contested amount is claimed to be due is limited
solely to such contested amount. Furthermore, the Company’s control of the contest shall be limited to issues with respect to which a Gross-Up Payment would be payable hereunder and you shall be entitled to settle or contest, as the case may
be, any other issue raised by the Internal Revenue Service or any other taxing authority. 
  
 (d) If, after the receipt by you of an amount advanced by the Company pursuant to Appendix B, you become entitled to receive any refund with respect to such claim, you shall (subject to the Company’s complying
with the requirements of Appendix B), promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by you of an amount advanced by the Company
pursuant to this Appendix B, a determination is made that you shall not be entitled to any refund with respect to such claim and the Company does not notify you in writing of its intent to contest such denial of refund prior to the expiration of 30
days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid. 
  

 B-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00088-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00088-of-00352.parquet"}]]