Document:

Amended and Restated Non-Qualified Stock Option Agreement

 Exhibit 10(oo) 
 ENERGY FUTURE HOLDINGS CORP. KEY EMPLOYEE 
 AMENDED
AND RESTATED NON-QUALIFIED STOCK OPTION AGREEMENT 
 THIS AMENDED AND RESTATED NON-QUALIFIED STOCK OPTION AGREEMENT
(“Agreement”), dated as of December 1, 2009 (the “Effective Date”), is made by and between Energy Future Holdings Corp., a Texas corporation (hereinafter referred to as the
“Company”), and the individual whose name is set forth on the signature page hereof (hereinafter referred to as the “Optionee”). Any capitalized terms used but not otherwise defined herein shall have
the meaning set forth in the 2007 Stock Incentive Plan for Key Employees of Energy Future Holdings Corp. and its Affiliates or any successor plan (the “Plan”). 
 WHEREAS, the Organization and Compensation Committee of the Board of the Company (the “Committee”) has
determined that it would be to the advantage and best interest of the Company and its shareholders to grant the Option provided for herein to the Optionee as an incentive for increased efforts during his term of employment with the Company or its
Subsidiaries or Affiliates, and has advised the Company thereof and authorized the undersigned officers to issue said Option; 
 WHEREAS, the Company wishes to act consistently with the Plan, the terms of which are hereby incorporated by reference and made a part of this Agreement; and 
 WHEREAS, the parties previously entered into a Non-Qualified Stock Option Agreement, dated May 20, 2008, pursuant to which the
Company granted stock options to the Optionee (the “Original Option Agreement”), and the parties desire to enter into this Agreement to (i) cancel, immediately prior to the Effective Date hereof, all unvested
performance-related options subject to the award, and (ii) grant additional time-based vesting options on the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto do hereby agree as
follows: 
 ARTICLE I 
 DEFINITIONS 
 Whenever the following terms are used in this Agreement, they
shall have the meaning specified below unless the context clearly indicates to the contrary. 
 Section 1.1 Cause 
 “Cause” shall mean “Cause” as such term may be defined in any employment agreement or change-in-control
agreement in effect at the time of termination of employment between the Optionee and the Company or any of its Subsidiaries or Affiliates, or, if there is no such employment or change-in-control agreement, “Cause” shall mean, with respect
to an Optionee: (i) if, in carrying out his duties to the Company, the Optionee engages in conduct that constitutes (a) a material breach of his fiduciary duty to the Company or its shareholders (including, without limitation a material
breach or attempted breach of the restrictive covenants under the Management Stockholder’s Agreement), (b) gross neglect or (c) gross misconduct resulting in material economic harm to the Company, provided that any such conduct
described in (a), (b) or (c) is not cured within ten (10) business days after the Optionee receives from the Company written notice thereof, or (ii) Optionee’s conviction of, or entry of a plea of guilty or nolo contendere
for, a felony or other crime involving moral turpitude. 

 Section 1.2 Cliff Vesting Option 
 “Cliff Vesting Option” shall have the meaning given such term in Section 2.1 hereof. 
 Section 1.3 Disability 
 “Disability” shall mean “Disability” as such term is defined in any employment agreement between the Optionee and the Company or any of its Subsidiaries, or, if there is no such employment agreement,
“Disability” shall mean the Optionee’s physical or mental incapacitation and consequent inability for a period of six consecutive months to perform the Optionee’s duties; provided, however, in the event the Company
temporarily replaces the Optionee, or transfers the Optionee’s duties or responsibilities to another individual, on account of the Optionee’s mental or physical impairment for a period of time which is covered by the Company’s short
term disability plan, the Optionee’s employment shall not be deemed terminated by the Company and the Optionee shall not be able to resign with Good Reason. 
 Section 1.4 Extended Exercise Date 
 “Extended Exercise
Date” shall mean the earlier of: (i) the tenth anniversary of the Grant Date; or (ii) the later of the date: (A) one hundred and eighty (180) days following the date of an Optionee’s termination of employment
with the Company and all Service Recipients and (B) thirty (30) days following the first date on which the Optionee could exercise the Option and immediately resell the Shares acquired upon such exercise for cash consideration. 

Section 1.5 Fair Market Value 
 “Fair Market Value” shall mean, for the purposes of the Plan and this Agreement and notwithstanding the definition contained in the Plan: (i) if there is a public market for
the Shares on such date, the average of the high and low closing bid prices of the shares of Common Stock on such stock exchange on which the Shares are principally trading on the date in question, or, if there were no sales on such date, on the
closest preceding date on which there were sales of Shares or, (ii) if there is no public market for the Shares, on a per Share basis, the fair market value of the Common Stock on any given date, as determined reasonably and in good faith by
the Board, which shall not take into account any minority interest discount and shall not take into account a discount for illiquidity of shares of Common Stock held by an Optionee in excess of any illiquidity discount applicable to shares of Common
Stock generally; provided that if the Board’s determination under this clause (ii) is not based on a valuation completed by an independent valuation firm within the 6 months preceding the Board’s determination, the Optionee may
require the Company to retain an independent valuation firm to determine the fair market value (and the Company will bear the cost of such appraisal, unless the appraised value is 110% or less of the fair market value as determined by the Board, in
which case the Optionee will bear the cost of such appraisal). 
 Section 1.6 Good Reason 
 “Good Reason” shall mean “Good Reason” as such term may be defined in any employment agreement or
change-in-control agreement in effect at the time of termination of employment between the Optionee and the Company or any of its Subsidiaries or Affiliates, or, if there is no such employment or change-in-control agreement, “Good Reason”
shall mean (i) a reduction in the Optionee’s base salary or the Optionee’s annual incentive compensation opportunity (other than a general reduction in base salary or annual incentive compensation opportunities that affects all
salaried employees of the Company equally); (ii) a transfer of the Optionee’s primary workplace by more than thirty-five (35) miles from the current workplace; (iii) a substantial adverse change in the Optionee’s duties and
responsibilities; (iv) any material breach by the Company of this Agreement, the Management Stockholder’s Agreement, or the Optionee’s employment agreement; or (v) an adverse change after the October 10, 2007 in the
Optionee’s line of reporting to superior officers pursuant to the terms of his employment agreement or change-in-control agreement; provided, however, that any isolated, insubstantial and inadvertent failure by the Company that is
not in bad faith and is cured within ten (10) business days after the Optionee gives the Company written notice of any such event set forth above, shall not constitute Good Reason. 
  

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 Section 1.7 Grant Date 
 “Grant Date” means the date the Option, or a portion thereof, is granted as specified for each of the Original Time
Option, the Performance Option, and the Cliff Vesting Option in Section 2.1 hereof. 
 Section 1.8 Management Stockholder’s
Agreement 
 “Management Stockholder’s Agreement” shall mean the Management Stockholder’s
Agreement between the Optionee and the Company. 
 Section 1.9 Option 
 “Option” shall mean the aggregate of the Original Time Option, the Performance Option, and the Cliff Vesting Option.

 Section 1.10 Original Time Option 
 “Original Time Option” shall have the meaning given such term in Section 2.1 hereof. 
 Section 1.11 Parent 
 “Parent” shall mean Texas
Energy Future Holdings Limited Partnership, a Delaware Limited Partnership. 
 Section 1.12 Performance Option 
 “Performance Option” shall have the meaning given such term in Section 2.1 hereof. 
 Section 1.13 Retirement 
 “Retirement” shall mean the Optionee's retirement at age 55 or over after having been employed by the Company or a Subsidiary or Parent for at least ten (10) consecutive years (with at least five consecutive
years of employment following October 10, 2007). 
 Section 1.14 Secretary 
 “Secretary” shall mean the Secretary of the Company. 
  

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 ARTICLE II 
 GRANT OF OPTIONS 
 Section 2.1 Grant of Options 
 This Agreement evidences the grant to the Optionee, for good and valuable consideration and in each case on the terms and conditions set
forth in this Agreement, of the following: 
 (a) an option to purchase 800,000 Shares of Common Stock, previously granted to
Optionee on May 20, 2008, which shall vest in accordance with the provisions of Section 3.1(a)(i) hereof (the “Original Time Option”); 
 (b) an option to purchase 640,000 Shares of Common Stock, granted to the Optionee on December 1, 2009, which shall vest in accordance with the provisions of Section 3.1(a)(ii) hereof (the
“Cliff Vesting Option”); and 
 (c) an option to purchase 160,000 Shares of Common Stock, previously
granted to the Optionee on May 20, 2008, which vested prior to the Effective Date hereof (the “Performance Option”). The Performance Option was previously evidenced by the Original Option Agreement, and originally
consisted of the right to purchase an aggregate of 800,000 Shares of Common Stock. The Optionee acknowledges that his acceptance of this Agreement constitutes his agreement to the surrender and cancellation in full of all of his right, title and
interest in the right to purchase 640,000 Shares of Common Stock, which were previously awarded to the Optionee as part of the Performance Option pursuant to the Original Option Agreement, with no further obligations of the Company thereunder.

 Section 2.2 Exercise Price 
 Subject to Section 2.4, the exercise price of the Shares of Common Stock covered by the Option shall be equal to (a) $5.00 per Share for the Original Time Option and the Performance Option, and
(b) $3.50 per Share for the Cliff Vesting Option (each applicable price, the “Exercise Price”). 
 Section 2.3
No Guarantee of Employment 
 Nothing in this Agreement or in the Plan shall confer upon the Optionee any right to
continued employment by the Company or any Subsidiary or Affiliate or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries or Affiliates, which are hereby expressly reserved, to terminate the employment of the
Optionee at any time for any reason whatsoever, with or without Cause, subject to the applicable provisions of, if any, the Optionee’s employment agreement with the Company. 
 Section 2.4 Adjustments to Option 
 The Option shall be subject to the
adjustment provisions of Sections 8 and 9 of the Plan, provided, however, that in the event of the payment of an extraordinary dividend by the Company to its stockholders, then: the Exercise Price of the Option shall be reduced by the
amount of the dividend paid, but only to the extent the Committee determines it to be permitted under applicable tax laws and not to have adverse tax consequences to the Optionee under Section 409A of the Code; and, if such reduction cannot be
fully effected due to such tax laws without adverse tax consequences to the Optionee, then the Company shall pay to the Optionee a cash payment, on a per Share basis, equal to the balance of the amount of the dividend not permitted to be applied to
reduce the Exercise Price of the applicable Option as follows: (a) for each Share subject to a vested Option, immediately upon the date of such dividend payment; and (b), for each Share subject to an unvested Option, on the date on which such
Option becomes vested and exercisable with respect to such Share. 
  

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 ARTICLE III 
 PERIOD OF EXERCISABILITY 
 Section 3.1 Commencement of Exercisability

 (a) So long as the Optionee continues to be employed by the Company or any other Service Recipients, the Option shall become
exercisable pursuant to the following schedules: 
 (i) Original Time Option. The Original Time Option shall become
vested and exercisable with respect to 20% of the Shares subject to the Original Time Option on each of the first five anniversaries of October 10, 2007. However, upon the occurrence of Optionee’s termination of employment without Cause or
resignation for Good Reason (in each case following the occurrence of a Change in Control), the Original Time Option shall become immediately exercisable as to 100% of the Shares of Common Stock subject to such Option immediately prior to the Change
in Control. 
 (ii) Cliff Vesting Option. The Cliff Vesting Option shall become vested and exercisable in accordance
with the following schedule, provided the Optionee has remained continuously employed by the Company or any other Service Recipients through the applicable vesting dates: 
  

			
	 Vesting Date
	  	Cumulative Percentage of Shares
Subject to the Cliff Vesting Option
that
are Vested and Exercisable
	 September 30, 2012
	  	50%
		
	 September 30, 2014
	  	50%

 However, upon the occurrence of a
Change in Control, the Cliff Vesting Option shall become immediately exercisable as to 100% of the Shares of Common Stock subject to such Option immediately prior to the Change in Control, provided the Optionee remains continuously employed by the
Company or any other Service Recipients on the date such Change in Control occurs. 
 (iii) Performance Option. The
Performance Option is fully vested and exercisable as of the Effective Date hereof. 
 (b) Notwithstanding anything to the
contrary in this Section 3.1, no Option shall become exercisable as to any additional Shares of Common Stock following the termination of employment of the Optionee for any reason and any Option, which is unexercisable as of the Optionee’s
termination of employment, shall immediately expire without payment therefor. 
  

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 Section 3.2 Expiration of Option 
 Except as otherwise provided in Section 5 or 6 of the Management Stockholder’s Agreement, the Optionee may not exercise the Option,
or any portion thereof, to any extent after the first to occur of the following events: 
 (a) The tenth anniversary of the
applicable Grant Date; 
 (b) The first anniversary of the date of the Optionee’s termination of employment with the
Company and all Service Recipients, if the Optionee’s employment is terminated by reason of death or Disability; 
 (c)
Immediately upon the date of an Optionee’s termination of employment by the Company and all Service Recipients for Cause; 
 (d) Thirty (30) days after the date of an Optionee’s resignation from employment with the Company and all Service Recipients without Good Reason (except due to death or Disability); 
 (e) One hundred and eighty (180) days after the date of (i) an Optionee’s resignation from employment with the Company and
all Service Recipients for Good Reason; (ii) an Optionee’s Retirement; or (iii) an Optionee’s termination of employment by the Company and all Service Recipients without Cause (for any reason other than as set forth in
Section 3.2(b)), in the event such termination listed in (i), (ii), or (iii) occurs prior to the third anniversary of October 10, 2007; 
 (f) The Extended Exercise Date in the event of (i) an Optionee’s resignation from employment with the Company and all Service Recipients for Good Reason; (ii) an Optionee’s Retirement;
or (iii) an Optionee’s termination of employment by the Company and all Service Recipients without Cause (for any reason other than as set forth in Sections 3.2(b)), including upon nonrenewal of Optionee’s existing employment
agreement by the Company or other applicable Service Recipient, and any such termination listed in (i), (ii) or (iii) occurs on or after the third anniversary of October 10, 2007; 
 (g) Immediately upon the date of an Optionee’s breach of the provisions of Section 22(a)(ii) of the Management Stockholder’s
Agreement; or 
 (h) At the discretion of the Committee pursuant to Section 9 of the Plan, but only to the extent the
Committee determines it to be permitted under applicable tax laws and not to have adverse tax consequences to the Optionee under Section 409A of the Code. 
 ARTICLE IV 
 EXERCISE OF OPTION 
 Section 4.1 Person Eligible to Exercise 
 During the lifetime of the Optionee, only the Optionee (or his duly authorized legal representative) may exercise the Option or any portion thereof. After the death of the Optionee, any exercisable
portion of the Option may, prior to the time when an Option becomes unexercisable under Section 3.2, be exercised by his personal representative or by any person empowered to do so under the Optionee’s will or under the then applicable
laws of descent and distribution. 
  

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 Section 4.2 Partial Exercise 
 Any exercisable portion of the Option or the entire Option, if then wholly exercisable, may be exercised in whole or in part at any time
prior to the time when the Option or portion thereof becomes unexercisable under Section 3.2; provided, however, that any partial exercise shall be for whole Shares of Common Stock only. 
 Section 4.3 Manner of Exercise 
 The Option, or any exercisable portion thereof, may be exercised solely by delivering to the Secretary or her office all of the following prior to the time when the Option or such portion becomes unexercisable under Section 3.2:

 (a) Notice in writing signed by the Optionee or the other person then entitled to exercise the Option or portion thereof,
stating that the Option or portion thereof is thereby exercised, such notice complying with all applicable rules established by the Committee; 
 (b) (i) Full payment (in cash, by check, or by a combination thereof or through tender of previously owned Shares (any such Shares valued at Fair Market Value on the date of exercise) that the Participant
has held for at least six months (or such other period as may be required by the Company’s accountants but only to the extent required to avoid liability accounting under FAS 123(R) or any successor standard thereto)) for the Shares with
respect to which such Option or portion thereof is exercised or (ii) indication that the Optionee elects to have the number of Shares that would otherwise be issued to the Optionee reduced by a number of Shares having an equivalent Fair Market
Value to the payment that would otherwise be made by the Optionee to the Company pursuant to clause (i) of this subsection (b); 
 (c) (i) Full payment (in cash or by check or by a combination thereof) to satisfy the minimum withholding tax obligation with respect to which such Option or portion thereof is exercised; or (ii) notice in writing that the Optionee
elects to have the number of Shares that would otherwise be issued to the Optionee reduced by a number of Shares having an equivalent Fair Market Value to the payment that would otherwise be made by the Optionee to the Company pursuant to clause
(i) of this subsection (c); 
 (d) A bona fide written representation and agreement, in a form satisfactory to the
Committee, signed by the Optionee or other person then entitled to exercise such Option or portion thereof, stating that the Shares of Common Stock are being acquired for his own account, for investment and without any present intention of
distributing or reselling said Shares or any of them except as may be permitted under the Securities Act of 1933, as amended (the “Act”), and then applicable rules and regulations thereunder, and that the Optionee or other
person then entitled to exercise such Option or portion thereof will indemnify the Company against and hold it free and harmless from any loss, damage, expense or liability resulting to the Company if any sale or distribution of the Shares by such
person is contrary to the representation and agreement referred to above; provided, however, that the Committee may, in its reasonable discretion, take whatever additional actions it deems reasonably necessary to ensure the observance
and performance of such representation and agreement and to effect compliance with the Act and any other federal or state securities laws or regulations; and 
 (e) In the event the Option or portion thereof shall be exercised pursuant to Section 4.1 by any person or persons other than the Optionee, appropriate proof of the right of such person or persons to
exercise the Option. 
  

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 Without limiting the generality of the foregoing, the Committee may require an opinion of counsel acceptable
to it to the effect that any subsequent transfer of Shares acquired on exercise of an Option does not violate the Act, and may issue stop-transfer orders covering such Shares. Share certificates evidencing stock issued on exercise of this Option
shall bear an appropriate legend referring to the provisions of subsection (d) above and the agreements herein. The written representation and agreement referred to in subsection (d) above shall, however, not be required if the Shares to
be issued pursuant to such exercise have been registered under the Act, and such registration is then effective in respect of such Shares. 
 Section 4.4 Conditions to Issuance of Stock Certificates 
 The Shares of stock deliverable upon the
exercise of the Option, or any portion thereof, may be either previously authorized but unissued Shares or issued Shares, which have then been reacquired by the Company. Such Shares shall be fully paid and nonassessable. The Company shall not be
required to issue or deliver any certificate or certificates for Shares of stock purchased (if certified, or if not certified, register the issuance of such Shares on its books and records) upon the exercise of the Option or a portion thereof prior
to fulfillment of all of the following conditions: 
 (a) The obtaining of approval or other clearance from any state or federal
governmental agency which the Committee shall, in its reasonable and good faith discretion, determine to be necessary or advisable; 
 (b) The execution by the Optionee of the Management Stockholder’s Agreement and a Sale Participation Agreement; and 
 (c) The lapse of such reasonable period of time following the exercise of the Option as the Committee may from time to time establish for reasons of administrative convenience or as may otherwise be required by applicable law. 

Section 4.5 Rights as Stockholder 
 Except as otherwise provided in Section 2.4 of this Agreement, the holder of an Option shall not be, nor have any of the rights or privileges of, a stockholder of the Company with respect to any
Shares purchasable upon the exercise of the Option or any portion thereof unless and until certificates representing such Shares shall have been issued by the Company to such holder or the Shares have otherwise been recorded in the records of the
Company as owned by such holder. 
 ARTICLE V 
 MISCELLANEOUS 
 Section 5.1 Administration 
 The Committee shall have the power to interpret the Plan and this Agreement and to adopt, interpret or revoke rules for the administration,
interpretation and application of the Plan. All actions taken and all interpretations and determinations made by the Committee shall be final and binding upon the Optionee, the Company and all other interested persons. No member of the Committee
shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or the Option. In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties
of the Committee under the Plan and this Agreement. 
  

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 Section 5.2 Option Not Transferable 
 Neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee
or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy,
attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that this Section 5.2 shall not prevent
transfers by will or by the applicable laws of descent and distribution. 
 Section 5.3 Notices 
 Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of its Secretary, and any
notice to be given to the Optionee shall be addressed to him at the last address on file with the Company. By a notice given pursuant to this Section 5.3 either party may hereafter designate a different address for notices to be given to that
party. Any notice, which is required to be given to the Optionee, shall, if the Optionee is then deceased, be given to the Optionee’s personal representative if such representative has previously informed the Company of his status and address
by written notice under this Section 5.3. Any notice shall have been deemed duly given when (i) delivered in person or (ii) enclosed in a properly addressed, sealed envelope or wrapper, deposited (with postage or fees prepaid) with a
post office or branch post office regularly maintained by the United States Postal Service or an office regularly maintained by FedEx, UPS, or comparable non-public mail carrier. 
 Section 5.4 Titles; Pronouns 
 Titles are provided herein for
convenience only and are not to serve as a basis for interpretation or construction of this Agreement. The masculine pronoun shall include the feminine and neuter, and the singular the plural, where the context so indicates. 
 Section 5.5 Applicability of Plan, Management Stockholder’s Agreement and Sale Participation Agreement 
 The Option and the Shares of Common Stock issued to the Optionee upon exercise of the Option shall be subject to all of the terms and
provisions of the Plan, the Management Stockholder’s Agreement and a Sale Participation Agreement, to the extent applicable to the Option and such Shares. 
 Section 5.6 Amendment 
 Subject to Section 10 of the Plan, this
Agreement may be amended only by a writing executed by the parties hereto, which specifically states that it is amending this Agreement. 
 Section 5.7 Governing Law 
 The laws of the State of Texas shall govern the interpretation, validity and
performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws. 
  

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 Section 5.8 Arbitration 
 In the event of any controversy among the parties hereto arising out of, or relating to, this Agreement which cannot be settled amicably by
the parties, such controversy shall be finally, exclusively and conclusively settled by mandatory arbitration conducted expeditiously in accordance with the American Arbitration Association rules, by a single independent arbitrator. Such arbitration
process shall take place within the Dallas, Texas metropolitan area. The decision of the arbitrator shall be final and binding upon all parties hereto and shall be rendered pursuant to a written decision, which contains a detailed recital of the
arbitrator’s reasoning. Judgment upon the award rendered may be entered in any court having jurisdiction thereof. Each party shall bear its own legal fees and expenses, unless otherwise determined by the arbitrator. 
 [Signatures on next page.] 
  

 10 

 IN WITNESS WHEREOF, this Agreement has been executed and delivered by the parties
hereto. 
  

			
	ENERGY FUTURE HOLDINGS CORP.
		
	By:	 	 /s/ Robert C. Walters

		 	Robert C. Walters
		 	Executive Vice President
	
	OPTIONEE:
	
	 /s/ Charles Ray Enze

	Charles Ray Enze

 A
summary of Option grants governed by this Agreement appears on the following page. 
 [Signature Page of Stock Option
Agreement] 

 Summary of Option 
  

										
	 	  	Original Time
Option	 	Performance
Option	  	Cliff Vesting
Option
	 Number of Shares subject to the Option
	  	 	800,000	 	 	160,000	  	 	640,000
				
	 Grant Date
	  	 	May 20, 2008	 	 	May 20, 2008	  	 	December 1, 2009
				
	 Vesting Date
	  	 
 
 
 
 	20% each year
beginning on
first
anniversary of
October 10, 2007	 	 
 	Fully vested
February 25, 2009	  	 
 
  
 
	50% on
September 30, 2012;
 50%
on
September 30, 2014

				
	 Exercise Price
	  	$	5.00	 	$	5.00	  	$	3.50
				
	 Number of vested Shares as of December 1, 2009
	  	 	320,000	 	 	160,000	  	 	None

  

 12Oncor Salary Deferral Program

 Exhibit 10(p) 
 ONCOR 
 SALARY DEFERRAL PROGRAM 
 Effective January 1, 2010 

 Contents 
  
  
 Oncor Salary Deferral Program 
  

					
	Section 1.	  	Purpose	  	1
	Section 2.	  	Definitions	  	1
	Section 3.	  	Deferral Eligibility and Participation	  	6
	Section 4.	  	Election to Defer	  	6
	Section 5.	  	Matching Awards, Vesting, and Forfeitures	  	7
	Section 6.	  	Investments and Earnings	  	8
	Section 7.	  	Participant Accounts	  	10
	Section 8.	  	Distribution of Accounts	  	10
	Section 9.	  	Certain Elections for Participants in Prior Plan	  	14
	Section 10.	  	Nontransferability	  	14
	Section 11.	  	Designation of Beneficiaries	  	14
	Section 12.	  	Rights of Participants	  	15
	Section 13.	  	Administration	  	15
	Section 14.	  	Amendment or Termination of the Plan	  	15
	Section 15.	  	Corporate Changes	  	16
	Section 16.	  	Requirements of Law	  	17
	Section 17.	  	Withholding Taxes	  	17
	Section 18.	  	Investment and Funding	  	17

  

 i 

 ONCOR SALARY DEFERRAL PROGRAM 
 (Effective January 1, 2010) 
 Section 1.
Purpose 
 1.1 Purpose. The Oncor Salary Deferral Program (the “Plan”) is hereby established effective as
of January 1, 2010. The Plan is being established as a spin-off of the EFH Salary Deferral Program (“Prior Plan”), which was originally effective April 1, 1991. The Plan, therefore, will assume, and provide for the satisfaction
of benefit liabilities accrued under, the Prior Plan as of December 31, 2009, with respect to certain employees of the Company. 
 The primary purpose of the Plan is to provide a mechanism for certain key employees of Participating Employers to defer a portion of their Salary and Bonus, to motivate key employees, and to recognize the contributions of such employees to
the Company as the Plan sponsor. The Plan is designed as an unfunded arrangement maintained primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees as determined under the
provisions of Section 201(2) of the Employee Retirement Income Security Act of 1974. 
 Section 2. Definitions

 2.1 Definitions. Whenever used herein, the following terms shall have the meanings set forth below: 
 (a) “Account” means the individual account maintained by the Company for each Participant for recording amounts transferred to
this Plan from the Prior Plan, as well as deferrals of Salary and Bonus made by each Participant under this Plan, Matching Awards made on behalf of each Participant in the Plan and/or Prior Plan, and earnings on such Amounts. 
 (b) “Adjustment Date” means the last day of each calendar quarter and such other dates as the Committee in its discretion may
prescribe. 
 (c) “Beneficiary” means the person or persons named by the Participant as the recipient(s) of any
distribution remaining to be paid to the Participant under the Plan upon the Participant’s death. 
 (d) “Board of
Directors” means the Board of Directors of the Company. 
 (e) “Bonus” means the cash portion of any future bonus
or incentive award paid by a Participating Employer to a Participant with respect to services to be performed by a Participant during a Plan Year under an incentive plan adopted by such Participating Employer. 
 (f) “Business Unit” means a subsidiary, division or operating unit of the Company designated by the Chief Executive of the Company
which will focus on its own unique products, services and markets. 
  

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 (g) “Cause” means the willful and intentional failure to perform one’s duties
to the Company or its subsidiaries, affiliates or Business Units, the breach of a fiduciary duty owed by the Participant to the Company, its subsidiaries, affiliates or their equity holders, or the commission of a felony or a crime involving moral
turpitude, if perpetrated against the interests of the Company or its members. 
 (h) “Change in Control” means, in
one or a series of related transactions, (i) the sale of all or substantially all of the consolidated assets or capital stock of EFH Corp., Oncor Holdings or Oncor to a person (or group of persons acting in concert) who is not an Affiliate of
any member of the Sponsor Group; (ii) a merger, recapitalization or other sale by EFH Corp., any member of the Sponsor Group or their Affiliates, to a person (or group of persons acting in concert) of EFH Common Stock that results in more than
50% of the EFH Common Stock (or any resulting company after a merger) being held by a person (or group of persons acting in concert) that does not include any member of the Sponsor Group or any of their respective Affiliates; or (iii) a merger,
recapitalization or other sale of EFH Common Stock by EFH Corp., any member of the Sponsor Group or their Affiliates, after which the Sponsor Group owns less than 20% of the EFH Common Stock, and has the ability to appoint less than a majority of
the directors to the board of directors of EFH Corp. (or of any resulting company after a merger); and with respect to any of the events described in clauses (i) and (ii) above, such event results in any person (or group of persons acting
in concert) gaining control of more seats on the board of directors of EFH Corp. than the Sponsor Group; provided however, that not withstanding the foregoing, (x) clause (i) above shall be deemed not to include any reference to EFH Corp.,
and clauses (ii) and (iii) shall not apply, in each case, for purposes of interpreting the termination or applicability of any puts, calls or release from transfer restrictions upon Transfers of Oncor Units or equity units of Oncor
Holdings, (y) clause (i) above shall be deemed not to include any reference to Oncor Holdings for purposes of interpreting the termination or applicability of any puts, calls or release from transfer restrictions upon Transfers of Oncor
Units and (z) clause (i) above shall be deemed not to include any reference to Oncor for the purposes of interpreting the termination or applicability of any puts, calls or release from transfer restrictions upon Transfer of equity units
of Oncor Holdings. 
 (i) “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
 (j) “Committee” means the Plans Administrative Committee whose members are appointed from time to time by the Board of Directors
or the Chief Executive of the Company. 
 (k) “Company” means Oncor Electric Delivery Company LLC, its successors and
assigns. 
 (l) “Deferral” means the deferral of Salary or Bonus under this Plan as provided for in Section 4
hereof. 
 (m) “Deferral Period” means the period of deferral, beginning with the first day of the applicable Plan
Year, which shall be seven years for the Seven Year Option and which

  

 2 

 
shall be the period ending with Retirement for the Retirement Option (or six months thereafter with respect to specified employees as provided under Section 8.3). Notwithstanding the
foregoing, the Deferral Period shall end on the date of death, Disability, or Separation from Service (or six months thereafter with respect to specified employees as provided under Section 8.3) and, to the extent that amounts otherwise
eligible for distribution under this Plan combined with the Participant’s other remuneration exceeds the Applicable Employee Remuneration for such year, the Deferral Period for such excess amount shall end with Retirement or such earlier date
as of which such amounts, or any part thereof, combined with other remuneration does not exceed the Applicable Employee Remuneration. For purposes of this definition, “Applicable Employee Remuneration” means applicable employee
remuneration as that term is defined in Section 162(m), or any successor provision, of the Code. Transition Provision: Notwithstanding any other provisions contained herein, the Deferral Period for amounts subject to an Election made for
periods prior to April 1, 1998, shall be the Deferral Period applicable at the time of the Election. 
 (n)
“Disability” means a medically determinable physical or mental impairment that can be expected to last for a continuous period of not less than 12 months, as a result of which the Participant is entitled to receive, and has been receiving
for a period of not less than three months, income replacement benefits under one or more plans of the Company. 
 (o)
“Early Retirement” means Retirement at age fifty-five or later but prior to Normal Retirement. 
 (p) “EFH”
means Energy Future Holdings Corp. 
 (q) “Eligible Employee” means an employee of a Participating Employer whose
Salary, as of October 1 of the previous year, meets or exceeds a threshold Salary level (which shall not be less than $100,000) and/or other criteria established by the Plan Administrator for each Plan Year based on such factors as the Plan
Administrator deems appropriate. 
 (r) “Matching Award” means contributions made by the Participating Employers
pursuant to Section 5.1 herein. 
 (s) “Normal Retirement” means Retirement at age sixty-two or later.

 (t) “Oncor Management Units” shall mean non-voting Class B membership interests in the Company, as more fully
defined in the Limited Liability Company Agreement of Oncor Management Investment LLC, as designated by the Plan Administrator as a deemed investment to be made available to certain Participants pursuant to the provisions of Section 6.4 of the
Plan. 
 (u) “Oncor Management Unit Purchase Date” means the closing date of the minority sale of outstanding
membership interests in EFH to Texas Transmission Investment LLC pursuant to the Contribution and Subscription Agreement, dated as of August 12, 2008. 
  

 3 

 (v) “Oncor Management Stock Fund Account” shall mean the notional subaccount
established on behalf of a Participant with respect to the portion of such Participant’s Account as is designated pursuant to Section 6.4 to be deemed invested in Oncor Management Units. 
 (w) “Oncor Management Stock Fund Account Distribution Event” shall mean the earliest to occur of any of the following change in
control events: (i) any one person, or more than one person acting as a group (as determined in accordance with Treasury Regulation Section 1.409A-3(i)(5)(v)(B)) (a “Person”), acquires (or has acquired during the 12-month period
ending on the date of the most recent acquisition by such person or persons) assets of EFH that have a total gross fair market value of 90 percent or more of the gross fair market value of all the assets of EFH immediately before such acquisition or
acquisitions (subject, however, to the limitations of Treasury Regulation Section 1.409A-3(i)(5)(vii)(B)); (ii) any Person acquires ownership of capital stock of EFH that, together with stock held by such Person, constitutes more than 50
percent of the total fair market value or total voting power of the stock of EFH; (iii) a majority of members of the EFH’s Board of Directors is replaced during any 12-month period by directors whose appointment or election is not endorsed
by a majority of the members of the EFH’s Board of Directors before the date of the appointment or election; or (iv) a Person acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such
Person or Persons) assets of the Company that have a total gross fair market value of 90 percent or more of the gross fair market value of all the assets of the Company immediately before such acquisition or acquisitions (subject, however, to the
limitations of Treasury Regulation Section 1.409A-3(i)(5)(vii)(B)); provided, however, that in the case of clauses (i), (ii) and (iv), an Oncor Management Stock Fund Account Distribution Event shall not be deemed to occur unless such event
results in such Person gaining control of more seats on the Board of EFH or the Company (as applicable) than the Sponsor Group. 
 (x) “Oncor Stockholder Agreements” shall mean the such agreements as may be entered into from time to time between Texas Energy Future Holdings Limited Partnership, the Company and/or Oncor Management Investment LLC, and various
Participants who are employed by the Company, governing or otherwise relating to investments in Oncor Management Units, certain stock appreciation rights and derivative investments thereof. 
 (y) “Participant” means an Eligible Employee who elects to participate in the Plan and whose Account(s) has not been completely
distributed. 
 (z) “Participating Employer” means the Company and each of its subsidiaries, affiliates or Business
Units which are approved by the Committee for participation in this Plan. The Participating Employers, as of the effective date of this Plan, are listed on Exhibit “A” attached hereto. Participation in the Plan by additional Participating
Employers will commence as of the beginning of the Plan Year following Committee approval of such participation. 
 (aa)
“Plan Administrator” means the person(s) or entities appointed by the Committee to assist in carrying out the operation of the Plan. 
  

 4 

 (bb) “Plan Year” means the twelve-month period beginning January 1 and ending
December 31. 
 (cc) “Rate” means the earnings rate to be applied to certain Deferrals and Matching Awards under
Section 6.2 and pursuant to Section 9.1 hereof for the Deferral Period which shall be the greater of: (i) the actual earnings rate, as determined by the Trustee, for assets held in Trust under the Seven-Year Option and invested in
accordance with the provisions of Section 6.2; and (ii) the Alternative Rate. The term “Alternative Rate” shall mean the average earnings rate, as determined by the Trustee, of interest rates payable on Treasury Notes of the
United States Government with a maturity period of ten years. Income credited under the Alternative Rate shall be determined by multiplying the Alternative Rate for the Plan Year within the Deferral Period times the average balance in the Account
for such Plan Year, including income earned for prior periods. Income on all Accounts under the Plan shall be deemed to have been earned on a consistent basis. 
 (dd) “Retirement” means termination of employment from a Participating Employer upon attaining age 65, or as early as attaining age 55 with at least 16 years of Service. 
 (ee) “Retirement Option” means the option to defer receipt of certain Deferrals until Retirement. 
 (ff) “Salary” means the annualized rate of normal base pay earnings, prior to any deferrals, of an Employee exclusive of overtime,
bonuses or any fringe benefits. 
 (gg) “Separation from Service” means termination of employment under circumstances
that would qualify as a “separation from service” for purposes of Code Section 409A and the regulations issued thereunder. 
 (hh) “Service” shall mean the aggregate period of employment of a Participant with all Participating Employers, determined on an elapsed time basis. 
 (ii) “Seven Year Option” means the option to defer receipt of certain Deferrals for seven years. 
 (jj) “Sponsor Group” shall mean investment funds affiliated with Kohlberg Kravis Roberts & Co. L.P., TPG Capital, L.P.
and Goldman, Sachs & Co., who contributed certain funds to Texas Energy Future Holdings Limited Partnership, a Delaware limited partnership, in exchange for limited partnership units. 
 (kk) “Trust” means the trust(s) established by the Company to assist it in meeting its obligations under the Plan. 
 (ll) “Trustee” means the trustee appointed by the Committee to hold assets of the Plan. 
 (mm) “Unforeseeable Emergency” means a severe financial hardship to a Participant resulting from an illness or accident of the
Participant, the Participant’s spouse or a

  

 5 

 
dependent (as defined in Code section 152 without regard to section 152(b)(1), (b)(2) and (d)(1)(B)) of a Participant, loss of the Participant’s property due to casualty, or other similar
extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. 
 (nn)
“Valuation Date” means each date as of which the managing member certifies the value of one Oncor Management Unit (or the Board of Directors of EFH establishes the value of one share of EFH Stock) (as applicable), which certification shall
be final and binding on all interested parties. 
 (oo) “Vesting Period” means the period beginning with the date of
the beginning of the Plan Year of deferral and ending with the end of the seventh Plan Year. 
 Section 3. Deferral
Eligibility and Participation 
 3.1 Eligibility. An Eligible Employee shall be eligible to participate in the Plan as
of the date that he satisfies the eligibility requirements set forth herein. All Eligible Employees will be given the opportunity, annually during an election period prior to the beginning of a Plan Year, to participate in the Plan during such Plan
Year. Individuals who first become Eligible Employees during the Plan Year shall be notified of their eligibility and shall be given the opportunity, during the thirty (30) day period following the date of initial eligibility, to participate in
the Plan for the remainder of such Plan Year. Elections with regard to participation during a Plan Year shall be irrevocable. 
 3.2 Participation. All Eligible Employees may elect to participate in this Plan, and defer Salary and Bonus in the manner prescribed in Section 4.1 below. 
 3.3 Transfer of Employment from EFH. In the event any individual transfers employment to the Company from EFH, and has an Account
under the Prior Plan, the Plan Administrator may cause the Plan to assume the liability to such individual under the Prior Plan, to the extent assets are transferred to the Company from EFH with respect to such liabilities; provided, however, that
this Plan shall not accept a transfer of liabilities or assets from the Prior Plan with respect to any amounts held in the EFH Stock Fund Account under the Prior Plan. 
 Section 4. Election to Defer 
 4.1 Deferral Election. An
Eligible Employee may elect, irrevocably, by written notice to the Plan Administrator on an election form at the time(s), and in the manner prescribed by the Plan Administrator, to make Deferrals during the Plan Year of a percentage of Salary and/or
Bonus, under the Retirement Option, the Seven Year Option, or a combination thereof, in one percent (1%) increments, up to a maximum of fifty percent (50%) of Salary and eighty-five percent (85%) of Bonus. Such election shall be made
by an individual who first becomes eligible, during the period specified in Section 3.1, and by all other Participants during the election period prescribed by the Plan Administrator, which shall be, prior to the first day of the Plan Year to
which such election relates. 
  

 6 

 4.2 Salary Deferrals. Salary deferred under the Plan will be ratably deducted in each
pay period during the Plan Year. 
 4.3 Bonus Deferrals. Bonus deferred under the Plan will be deferred at the time that
the Bonus would otherwise have been paid. 
 Section 5. Matching Awards, Vesting, and Forfeitures 
 5.1 Matching Awards. Each Participating Employer shall contribute to the Account of each Participant employed by such Participating
Employer, as a Matching Award, an amount equal to one hundred percent (100%) of the Participant’s Salary Deferral up to a maximum Salary Deferral of eight percent (8%). Such contribution shall be credited at the time of the crediting of
the Salary Deferral amount to be matched. 
 5.2 Vesting. Subject to the forfeiture provisions of Section 5.3, a
Participant shall at all times be one hundred percent (100%) vested in the Participant’s Account that is not attributable to Matching Awards and earnings thereon. A Participant shall be one hundred percent (100%) vested in the
Participant’s Matching Awards, and on income earned on such Matching Awards at the end of the Vesting Period. Notwithstanding any other provision of this Plan, a Participant’s Account shall become one hundred percent (100%) vested
upon the Participant’s Normal Retirement, death, or Disability regardless of the applicable Vesting Period. 
 5.3
Forfeitures. The following amounts shall be forfeited from a Participant’s Account as of the date upon which the forfeiture is created: 
 (a) Seven Year Option Forfeitures. 
 (i) Early Retirement. An amount
equal to four percent (4%) of the portion of the Participant’s Account balance relating to Matching Awards and earnings thereon, and Salary Deferrals subject to Matching Awards and earnings thereon, for each full year Retirement occurs
prior to Normal Retirement shall be forfeited. 
 (ii) Termination for other than Death, Disability or Retirement. If
termination of service with the Company occurs for reasons other than death, Disability, Retirement, or termination without Cause following a Change in Control, Matching Awards and all earnings thereon shall be forfeited. 
 (b) Retirement Option Forfeitures. 
 (i) Early Retirement. An amount equal to four percent (4%) of the Participant’s Account balance relating to non-vested Matching Awards and earnings thereon, and Salary Deferrals subject
to Matching Awards and earnings thereon, for each full year Retirement occurs prior to Normal Retirement shall be forfeited. 
 (ii) Termination for other than Death, Disability or Retirement. If termination of service with the Company occurs for reasons other than death, Disability, Retirement, or termination without Cause following a Change in Control,
Matching Awards and all earnings thereon for Plan Years which are nonvested, shall be forfeited. 
  

 7 

 5.4 Change in Control. Notwithstanding the provisions of Sections 5.2 or 5.3, in the
event a Participant’s employment is terminated without Cause following a Change in Control, then (i) such Participant’s Accounts under the Plan shall become fully vested, and (ii) the forfeiture provisions of Sections 5.3(a)(i)
and 5.3(b)(i) shall not apply. 
 Section 6. Investments and Earnings 
 6.1 Investments and Earnings on Participants’ Accounts. Except as otherwise provided in Section 6.2, the amount credited to
a Participant’s Account shall be adjusted as of each Adjustment Date to reflect such gain, loss and/or expenses incurred based on the experience of the investments selected by the Participant prior to the date prescribed by the Committee for
the investment of his or her Account and taking into account additional Deferrals credited to and distributions made from such Account since the last Adjustment Date. The Committee shall have sole and absolute discretion with respect to the number
and type of investment choices made available for selection by Participants, the timing and manner of Participant investment elections and the method by which adjustments are made. The designation of investment choices by the Committee shall be for
the sole purpose of adjusting Accounts pursuant to this Section and this provision shall not obligate the Participating Employers to invest or set aside any assets for the payment of benefits hereunder; provided, however, that a Participating
Employer may invest a portion of its general assets in investments, including investments which are the same as or similar to the investment choices designated by the Committee and selected by Participants, but any such investments shall remain part
of the general assets of such Participating Employer and shall not be deemed or construed to grant a property interest of any kind to any Participant, designated beneficiary or estate. The Committee shall notify the Participants of the investment
choices available and the procedures for making and changing investment elections. 
 6.2 Investments and Earnings For
Deferrals and Matching Awards Made Prior to April 1, 1998. Notwithstanding Section 6.1, the Trustee shall continue to invest Salary Deferrals and Matching Awards made under the Prior Plan prior to April 1, 1998 under the Seven
Year Option, together with all earnings on such Salary Deferrals and Matching Awards, in a fixed income fund of investment grade securities under investment guidelines established by the Committee. At the time of distribution of the portion of
Accounts attributable to Salary Deferrals and Matching Awards made under the Prior Plan prior to April 1, 1998, Participants will receive their Account balances relating to such pre-April 1, 1998 Salary Deferrals and Matching Awards,
including income determined by applying the Rate. 
 6.3 Notional Investment in Oncor Management Units. 
 (a) Those Participants who satisfied the eligibility requirements of Section 6.4(b) of the Prior Plan were given the opportunity to make
a special investment election whereby all or a specified portion of such Participant’s vested Account was allocated to an Oncor Management Stock Fund Account under the Plan. Each Participant previously was permitted to direct that all, or a
portion of, his or her Oncor Management Stock Plan Account be

  

 8 

 
deemed invested in Oncor Management Units. All amounts held in a Participant’s Oncor Management Stock Fund Account that the Participant has directed as a deemed investment in Oncor
Management Units, shall remain a deemed investment in Oncor Management Units (and may not be redirected or reinvested by the Participant), except that such amounts may be (or shall be, to the extent required) redirected into other investment options
under the Plan upon the occurrence of events as described in the Oncor Stockholder Agreements that would otherwise permit (or require) a transfer or liquidation of such Oncor Management Units had the Participant been the holder of such Oncor
Management Units as of the Oncor Management Unit Purchase Date. Upon any such required redirection, if the Participant has not redirected the investment of such amounts within such period as determined by the Plan Administrator after being notified
of such required reinvestment, the Plan Administrator may hold such amounts as a deemed investment in cash pending receipt of such Participant’s reinvestment direction. Any amount redirected, however, although no longer deemed invested in Oncor
Management Units, shall nonetheless remain allocated to the Participant’s Oncor Management Stock Fund Account for purposes of determining the form and timing of distribution with respect to such amounts. For the sake of clarification, any
reinvestment right or obligation under this Section 6.3(a) shall apply only with respect to a number of Oncor Management Units deemed held in such Participant’s Oncor Management Stock Fund Account equal to the total number of units that
would have been permitted or required to be sold by the Participant, assuming the Participant had actually held such Oncor Management Units directly for investment by such Participant outside of the Plan and the Participant otherwise held no other
Oncor Management Units, upon the occurrence of any event described in the Oncor Shareholder Agreements that would otherwise permit (or require) a transfer or liquidation of Oncor Management Units. 
 (b) The distribution of amounts allocated to a Participant’s Oncor Management Stock Fund Account shall be governed
exclusively by the provisions of this Section 6.3, and not by the provisions of Article 8. Upon the earlier to occur of a Separation from Service or an Oncor Management Stock Fund Account Distribution Event (the “Applicable Payment
Event”), the Participant’s Oncor Management Stock Fund Account shall become distributable to the Participant. Such amount shall be distributed in the form of (i) with respect to the portion, if any, of the Oncor Management Stock Fund
Account that is deemed invested in Oncor Management Units at the time of the distribution, in cash or Oncor Management Units (as determined by the Company in its sole discretion), and (ii) with respect to the portion, if any, of the Oncor
Management Stock Fund Account that is deemed invested in any investment option other than Oncor Management Units, in cash. Such distribution shall be made in a single lump sum to the Participant within sixty (60) days of the Applicable Payment
Event; provided, however, that in no event shall payment be made later than the last day of the calendar year in which the Applicable Payment Event occurs, or if later, the fifteenth (15th) day of the third month following the date of the Applicable Payment Event. Such distribution shall be reduced by
the amount of any otherwise applicable withholding or employment taxes. The amount of applicable withholding will be calculated at the rate applicable to supplemental earnings with respect to such Participant, and may be charged against the portion
of the Participant’s Oncor Management Stock Fund Account that is distributed in cash or Oncor Management Units in such amounts as the Plan Administrator may determine in its sole discretion. The value of an Oncor Management Unit for purposes of
calculating any amounts withheld from a distribution, or the cash payable in lieu of Management Units as described in clause (i) of this Section 6(b), shall be based upon the Valuation Date immediately preceding or concurrent with the
Applicable Payment Event. 
  

 9 

 (c) In the event a Participant receives a distribution of Oncor Management Units pursuant to
Section 6.3(b) above, such Participant shall hold such Oncor Management Units subject to the terms of the Oncor Stockholder Agreements, and for purposes of applying the terms and conditions of the Oncor Stockholder Agreements, such Oncor
Management Units shall be deemed to have been purchased by the Participant on the Oncor Management Unit Purchase Date. Notwithstanding the foregoing, and in addition to any transfer restrictions imposed by the Oncor Stockholder Agreements, a
Participant receiving a distribution of Oncor Management Units shall not transfer any of such units during the period commencing on the date of the distribution and ending six (6) months thereafter. By having designated an investment in Oncor
Management Units pursuant to this Section 6.3, a Participant is deemed to have consented to be bound by the terms and conditions of the Oncor Stockholder Agreements, regardless of whether such Participant has executed such agreements.

 (d) The Plan Administrator, within its sole discretion, may require that any Participant who previously made a deemed
investment election under Section 6.3 of the Prior Plan to execute such documents or other agreements, including without limitation the Oncor Stockholder Agreements, that the Plan Administrator deems appropriate or necessary to ensure that the
investment in Oncor Management Units is administered consistent with the terms of the Plan, the requirements of Code Section 409A, and the intent of the Company in allowing the described investment described in this Section 6.3.

 Section 7. Participant Accounts 
 7.1 Separate Accounts. The Plan Administrator shall establish and maintain separate individual Accounts for each Participant for deferrals of Salary, Bonus and Matching Awards and earnings thereon
for each Plan Year. 
 7.2 Unsecured Interest. No Participant or Beneficiary shall have any security interest whatsoever
in any assets of the Company or any Participating Employer. To the extent that any person acquires a right to receive payments under the Plan, such right shall not be secured or represented by any assets of the Company or any Participating Employer.

 Section 8. Distribution of Accounts 
 8.1 Value of Participant’s Accounts. 
 (a) In General. Except as
otherwise provided in Subsection (b), the value of a Participant’s Account shall be determined based upon the amount credited to such Account as of the most recent Adjustment Date plus any Deferrals and Matching Awards credited to such Account
since such Adjustment Date. 
 (b) Deferrals and Matching Awards Made Prior to April 1, 1998. The value of the
portion of a Participant’s Account relating to Salary Deferrals and Matching Awards made under the Prior Plan prior to April 1, 1998 shall be determined as of the last day of the applicable Deferral Period. 
  

 10 

 (c) Reduction of Accounts Upon Distributions and Forfeitures. The amount of each
distribution made with respect to an Account and any forfeiture amounts applied pursuant to Section 5.3 shall be deducted from the balance credited to such Account at the time of distribution or forfeiture. 
 8.2 Form and Timing of Distribution. The value of the Participant’s Accounts at distribution shall be paid in cash, as follows:

 (a) Seven-Year Option. In a lump-sum distribution as soon as practicable after the end of the Deferral Period, but in
no event later than sixty (60) days following such date. The portion of the Participant’s Account subject to distribution hereunder shall be valued as of the end of the Deferral Period and shall not earn interest or be otherwise adjusted
for earnings for the period from the end of the Deferral Period to the date of distribution. 
 (b) Retirement Option.

 (i) Form of Payment upon Retirement. The aggregate amounts deferred under the Retirement Option, together with any
matching contribution or earnings attributable thereto, shall be distributed in a single annual installment, or in annual installments over the period certain elected by the Participant as provided in Section 8.2(b)(iii) from one (1) to
ten (10) years, or fifteen (15) years, or twenty (20) years, commencing in the year after, but in no event later than twelve months following the date of Retirement, subject, however, to the delay provided for in Section 8.3.
During the distribution period, undistributed amounts in the Retirement Option shall continue to be adjusted for earnings pursuant to Section 8.2(b)(iv). In the event of the death of a Participant or Beneficiary during the distribution period,
the remainder of the Account shall be distributed to the Participant’s Beneficiary, or if no Beneficiary has been designated, to the estate of the Participant or Beneficiary in a lump-sum distribution as soon as practicable after the
Participant’s date of death. 
 (ii) If Participant Terminates. If the Participant terminates employment prior to
Retirement, then the portion of his Account subject to the Retirement Option shall be paid in a lump-sum distribution as soon as practicable after the end of the Deferral Period, but in no event later than sixty (60) days following such date.
The portion of the Participant’s Account subject to distribution hereunder shall be valued as of the end of the Deferral Period and shall not earn interest or be otherwise adjusted for earnings for the period from the end of the Deferral Period
to the date of distribution. 
 (iii) Election of Payment Term. Each Participant shall elect the period over which
amounts in such Participant’s Account subject to the Retirement Option shall be paid. Except as provided for in Section 8.2(b)(iv) below, (i) such election shall be made on or before the date the Participant first commences
participation in the Plan; and (ii) with respect to any amounts transferred to this Plan from the Prior Plan, the Participant’s election in effect under the Prior Plan shall continue to apply. Such election shall apply to the entire
portion (if any) of

  

 11 

 
the Participant’s Account that is subject to the Retirement Option, regardless of when such amounts were deferred or otherwise credited to the Participant’s Account, and shall be
irrevocable. 
 (iv) Special Distribution Elections. Notwithstanding the provisions of paragraph (iii) above,
Participants shall be entitled to make a distribution election (or elections) at such time or times as determined by the Plan Administrator consistent with Code Section 409A and the rules and regulations issued thereunder with respect to all
accounts deferred under the Plan before and after such election(s), and such election(s) shall, to the extent determined by the Plan Administrator consistent with Code Section 409A and the rules and regulations issued thereunder, supersede any
other elections previously made by the Participant. 
 (v) Earnings During Distribution Period. The Participant may,
within sixty (60) days of Retirement, in accordance with administrative procedures established by the Plan Administrator, elect to have all or a portion of his or her Account allocated, in increments of 1%, to a Fixed Annuity Fund (“Fixed
Annuity”), which shall be credited a fixed rate of interest throughout the Retirement distribution period. This rate will equal the Fixed Account rate in effect at the time of Retirement. Any amounts not allocated to a Fixed Annuity by the end
of such sixty-day period shall earn a variable annuity rate of return taking into account the earnings and losses credited to the Participant’s Account as a result of the investment return tracking elections made by the Participant during the
annuity period (“Variable Annuity”). Notwithstanding the foregoing and except as otherwise provided in Section 9.2, with respect to the portion of the Participant’s Account relating to Salary Deferrals and Matching Awards made
under the Prior Plan prior to April 1, 1998, such installments shall be made in a fixed amount which shall amortize the value of such portion of the Participant’s Account over the period elected by the Participant in
Section 8.2(b)(iii), using the Rate as a projected earnings rate of return. 
 (c) Amounts Transferred from Prior
Plan. The portion of a Participant’s Account that is transferred to this Plan from the Prior Plan shall be payable at such time and in such terms as were applicable to such amounts under the Prior Plan, subject to a Participant’s right
to modify the terms and timing consistent with the terms of the Plan and Section 409A of the Code. 
 8.3 Delay of
Certain Benefit Payments. 
 (a) With respect to any Participant who is a “specified employee” (within the meaning
of Code section 409A and the regulations issued thereunder), the distribution of any benefits shall not commence earlier than the date that is six (6) months following the date of such Participant’s Separation from Service. In the event
that any benefit payable in installments is delayed by application of this Section 8.3(a), the period of payment shall not be extended, the first payment shall include all amounts that would have otherwise been paid in the absence of such
delay, and subsequent payments shall be made at such times and in such amounts as would have otherwise been paid in the absence of such delay. 
  

 12 

 (b) The provisions of Section 8.3(a) shall not apply (i) with respect to any
distribution made on account of the death or Disability of the Participant, or (ii) if, at the time of such Participant’s Separation from Service, no stock of either the Company or the Participant’s employer is publicly traded on an
established securities market or otherwise. 
 8.4 Election to Delay Commencement of Retirement Option Payments.

 Any Participant may make a one-time election to delay the commencement of payment of that portion of his Account that is
subject to the Retirement Option payment provisions of Section 8.2(b), subject to the following: 
 (a) Such election shall
be made no later than twelve (12) months prior to the date on which such payments would have otherwise commenced (without regard to the application of Section 8.3), and 
 (b) Such election must specify a payment date that will cause the commencement of the payment of such amounts to be delayed for at least
five (5) years beyond the date such payments would have otherwise commenced in the absence of the election under this Section 8.4. 
 (c) A Participant may make only one election under this Section 8.4 during the period of his participation in the Prior Plan and/or this Plan and such election will be ineffective until the
expiration of twelve (12) months after the date it is made. 
 (d) An election under this Section 8.4 shall not be
effective with respect to any amount subject to the Retirement Option that is payable as a lump sum under Section 8.2(b)(ii). 
 8.5 Distribution in the Event of an Unforeseeable Emergency. If a Participant encounters an Unforeseeable Emergency, the Plan Administrator in its absolute discretion may direct the Company to pay to such Participant such portion of
the Account, including the entire amount if appropriate, as the Committee shall determine to be necessary to satisfy the need presented by such Unforeseeable Emergency, plus amounts necessary to pay all taxes and penalties reasonably anticipated as
a result of the distribution. A distribution on account of an Unforeseeable Emergency may not be made to the extent such emergency may be relieved through reimbursement or compensation by insurance or otherwise or by liquidation of the
Participant’s assets (to the extent the liquidation would not itself cause severe financial hardship). 
  

 13 

 Section 9. Certain Elections for Participants in Prior Plan 
 9.1 Election to Continue Under Original Plan Provisions. Notwithstanding anything herein to the contrary, Eligible Employees who, as
of March 31, 1998, were Participants in the Prior Plan were given the opportunity, pursuant to a one-time, irrevocable written election, to have certain provisions relating to permitted Deferrals, Matching Awards and investments as described in
Exhibit “B” attached hereto and incorporated herein by reference (the “Original Plan Provisions”), apply with respect to their future Plan participation. 
 9.2 Election for Investment of Pre-April 1, 1998 Deferrals and Matching Awards. Notwithstanding anything herein to the contrary,
Eligible Employees who, as of March 31, 1998, were Participants in the Prior Plan and who did not make the election provided for in Section 9.1 to have the Original Plan Provisions apply to their future Plan participation, were given the
opportunity, pursuant to a one-time, irrevocable written election, to have the investment provisions set forth in Section 6.1 and the valuation provisions set forth in Section 8.1(a) apply to the entirety of their Account, including Salary
Deferrals and Matching Awards made under the Prior Plan prior to April 1, 1998. The Account of each Participant who made such an election was valued as of March 31, 1998 using the actual rate of return of such Account assets in accordance
with the investment provisions of Section 6.2. From and after April 1, 1998, the provisions of Sections 6.2 and 8.1(b) no longer applied to any portion of their Account. Furthermore, such Participant’s election under
Section 8.2(b)(v) shall be applied as if all amounts in Participant’s Account, subject to the Retirement Option, were deferred on or after April 1, 1998. 
 Section 10. Nontransferability 
 10.1 Nontransferability. In no
event shall the Company or any Participating Employer make any distribution or payment under this Plan to any assignee or creditor of a Participant or a Beneficiary. Prior to the time of a distribution or payment hereunder, a Participant or a
Beneficiary shall have no right by way of anticipation or otherwise to assign or otherwise dispose of any interest under this Plan. 
 Section 11. Designation of Beneficiaries 
 11.1 Specified Beneficiary. A Participant shall designate
a Beneficiary or Beneficiaries who, upon the Participant’s death are to receive the amounts that otherwise would have been paid to the Participant. All Beneficiary designations shall be in writing and signed by the Participant, and shall be
effective only if and when delivered to the Plan Administrator during the lifetime of the Participant. A Participant may, from time to time during his lifetime, change his Beneficiary or Beneficiaries by a signed, written instrument delivered to the
Plan Administrator. The payment of amounts shall be in accordance with the last unrevoked written designation of the Beneficiary that has been signed and so delivered. 
 11.2 Estate as Beneficiary. If a Participant designates a Beneficiary without providing in the designation that the Beneficiary must be living at the time of each distribution, the designation
shall vest in the Beneficiary all of the distributions whether payable before or after

  

 14 

 
the Beneficiary’s death, and any distributions remaining upon the Beneficiary’s death shall be made to the Beneficiary’s estate. In the event a Participant shall not designate a
Beneficiary or Beneficiaries, or if, for any reason, such designation shall be ineffective, in whole or in part, as determined solely in the discretion of the Plan Administrator, the distribution that otherwise would have been paid to such
Participant shall be paid to the Participant’s estate. 
 Section 12. Rights of Participants 
 12.1 Employment. Nothing in the Plan shall alter or interfere in any way with the employment relationship between Participants and
Participating Employers, nor limit in any way the right of the Company or any Participating Employer to terminate any Participant’s employment at any time. This Plan shall not confer upon any Participant any right to continue in the employ of
the Company or any Participating Employer. 
 Section 13. Administration 
 13.1 Administration. The Committee shall be responsible for the administration of the Plan. The Committee is authorized, in its sole
discretion, to interpret the Plan, to prescribe, amend, and rescind rules and regulations relating to the Plan, provide for conditions and assurances deemed necessary or advisable to protect the interests of the Company, and to make all other
determinations necessary or advisable for the administration of the Plan. The determination of the Committee, interpretation or other action made or taken pursuant to the provisions of the Plan, shall be final and shall be binding and conclusive for
all purposes and upon all persons whomsoever. The Committee shall appoint a Plan Administrator to assist in carrying out the operations of the Plan and a Trustee of the Trust to accompany the Plan. 
 13.2 Annual Reports. The Plan Administrator shall render annually a written report to each Participant which shall set forth, at a
minimum, the Participant’s Account balances as of the end of the most recent Plan Year. 
 Section 14. Amendment or
Termination of the Plan 
 14.1 Amendment or Termination of the Plan. The Board of Directors may amend, terminate, or
suspend the Plan at any time. Any such amendment, termination, or suspension of the Plan shall be effective on such date as the Board of Directors may determine. An amendment or modification of the Plan may affect Participants at the time thereof as
well as future Participants, but no amendment or modification of the Plan for any reason may diminish any Participant’s Accounts as of the effective date thereof, except that an amendment may diminish a Participant’s benefit under this
Plan to the extent a reasonably equivalent or more favorable benefit is made available to such Participant under another plan, policy or program of the Company. As soon as practical, but in no event more than fifteen (15) days following Plan
termination, the Participating Employers shall make irrevocable contributions to the Trust in an aggregate amount, as determined by the Committee, which when added to the total value of the assets of the Trust at such time equals the total amount
credited to all Accounts as of the date of Plan termination. In the event the Plan is terminated, no additional deferrals shall be permitted, and Participants’ Accounts shall be distributed at the time and in the manner that they would
otherwise have been distributed under the Plan in the absence of such termination. In no event shall such termination result in the acceleration of benefit payments hereunder. 
  

 15 

 Section 15. Corporate Changes 
 15.1 Dissolution or Liquidation. Notwithstanding any provision herein to the contrary, upon the dissolution of the Company in a
transaction subject to taxation under Code section 331, the Participants’ Accounts shall vest as of the day preceding the date of dissolution or liquidation and shall not be subject to the forfeiture provisions of this Plan. The Company shall
cause the full amount of each Participant’s Account to be paid in cash in a lump sum to the Participant, or his Beneficiary, as soon as is practicable, but in no event later than sixty (60) days following the date of dissolution or
liquidation. 
 15.2 Funding Limitations. Notwithstanding any other provision of the Plan or the Trust to the contrary,
the Plan Administrator may authorize the Trustee to make the following payments even if they would otherwise not be permitted by the Trust, and a Participating Employer may refrain from making any contributions or payments otherwise required or
permitted to be made by the Plan or the Trust, to the extent necessary to satisfy the following requirements. 
 (a) No amount
shall be set aside or reserved directly or indirectly (under the Trust or otherwise), during any restricted period (as defined in Section 409A(b)(3)(B) of the Code) for the purpose of paying a Benefit under the Plan to any Eligible Employee who
is an applicable covered employee (as defined in Section 409A(b)(3)(D) of the Code). It is understood that a restricted period will generally occur in a Plan Year if any single-employer defined benefit plan (an “Applicable Plan”)
maintained by the Company or any company that is in a controlled group that includes the Company (within the meaning of Sections 414(b) and (c) of the Code and guidance issued by the Internal Revenue Service) is “at risk” within the
meaning of Section 430(i) of the Code for the preceding Plan Year. “Applicable covered employee” generally includes any Eligible Employee who is, with respect to the Company or any entity under common control with the Company,
described in section 162(m)(3) of the Code or subject to the requirements of Section 16(a) of the Securities Exchange Act of 1934. All such persons are referred to herein as “Covered Employees.” 
 (b) The Plan Administrator shall monitor the funded status of each Applicable Plan and will determine whether a restricted period exists
with respect to any such plan. If the Plan Administrator determines that a restricted period exists for a Plan Year, it shall determine whether any amount, including earnings, has been set aside or reserved during that period for the purpose of
paying a benefit to any Covered Employee or would be set aside but for the action of the Plan Administrator. The Plan Administrator may request the Trustee to pay such amount to the Company or to any other person designated by the Plan Administrator
or to otherwise segregate such amount from the assets of the Trust. The foregoing shall not apply, however, to the extent that the Company elects to treat the amount set aside or reserved as a transfer of property for tax purposes and taxable to the
Covered Employee accordingly. 
  

 16 

 (c) Subject to any guidance issued by the Internal Revenue Service, the Plan Administrator
may use any method it deems appropriate to calculate the amount set aside or reserved for any Covered Employee during a restricted period. The determination made by the Plan Administrator shall be binding on the Trustee and each Covered Employee and
any person claiming any interest in or payment from the Trust related to such Covered Employee. The Plan Administrator may also utilize any program approved by the Internal Revenue Service to correct any amount that was improperly set aside under
the Trust, and may adopt such rules and procedures as it deems necessary to comply with Section 409A(b)(3) of the Code. 
 (d) The Plan Administrator shall maintain a record of any amount transferred from the Trust pursuant to paragraph (b), or that a Participating Employer does not contribute to the Trust. Such amount shall be credited with interest or
earnings based on what would have been allocable to such amounts if they had been held in the Trust. Such amount shall be paid to the Trust as soon as possible after the Plan Administrator determines that no Applicable Plan remains in a restricted
period. If any payment from the Trust to a Covered Employee or the Covered Employee’s beneficiary has been reduced or withheld as a result of the restrictions of this Section, such amount shall be paid to such employee in a lump sum as soon as
possible after the amount contemplated in the foregoing sentence is paid to the Trustee. The Company may also make such payments directly. 
 (e) The purpose of this Section is to comply with the restrictions of Section 409A(b)(3) of the Code and shall be interpreted accordingly. This provision is intended to impose only those restrictions
that are required by that Section and only on the persons covered by the Section. The Plan Administrator shall interpret and apply this Section accordingly. 
 Section 16. Requirements of Law 
 16.1 Governing Law. The Plan
is intended to satisfy the requirements of Code section 409A and the regulations issued thereunder, and shall be construed to that end. Except as otherwise preempted by Federal law, the Plan, and all agreements hereunder, shall be construed in
accordance with and governed by the laws of the State of Texas. 
 Section 17. Withholding Taxes 
 17.1 Withholding Taxes. The Company shall have the right to deduct from all cash payments under the Plan or from a Participant’s
compensation an amount necessary to satisfy any federal, state, or local withholding tax requirements. 
 Section 18.
Investment and Funding 
 18.1 Trust. The benefits to be derived by Participants in the Plan will be funded through
the Trust, provided, however, that any assets held by the Trust shall at all times be subject to the claims of judgment creditors of the Company. 
 18.2 Funding of Trust. With respect to Deferrals made under the Seven Year Option, the Participating Employers shall, promptly after Deferrals are credited to Participants’ Accounts, provide
the Trust with resources in amounts equal to the amounts of such Deferrals.

  

 17 

 
With respect to Deferrals made under the Retirement Option, the Participating Employers shall fund the Trust through the purchase of corporate owned life insurance or such other Trust assets as
may be determined by the Committee from time to time. 
 18.3 Distributions from Trust. If Trust assets allocated to any
Participant’s Account for a Plan Year are less than the amount required to effect a distribution to such Participant provided for in this Plan, the applicable Participating Employer will pay such difference either through the Trust or directly
to the Participant. If, after all obligations to Participants hereunder have been fully satisfied, there remain assets in the Trust, such excess amounts shall be returned to the Company. 
 18.4 Funding and Distribution Requirements Under Certain Circumstances. The provisions of this Section 18 shall be subject to
(and, if deemed to be contradicting, overridden by) the provisions of Section 15 of this Plan. 
 EXECUTED effective as of
the effective date first set forth above. 
  

			
	ONCOR ELECTRIC DELIVERY COMPANY LLC
		
	By:	 	 /s/ Debra L. Elmer

		 	Debra L. Elmer
		 	Vice President, Human Resources

  

 18 

 EXHIBIT “A” 
 PARTICIPATING EMPLOYERS 
 As of January 1, 2010

 Oncor Electric Delivery Company LLC 
  

 A-1 

 EXHIBIT “B” 
 Original Plan Provisions 
 The following provisions
shall apply to the Plan participation of Participants who made the one-time irrevocable election to continue to be governed by the Original Plan Provisions as described in Section 9.1 of the Plan: 
 1. Deferral Election. The Participant may elect, irrevocably, by written notice to the Plan Administrator on an election form and in
the manner prescribed by the Plan Administrator, to defer a percentage of Salary, in one percent (1%) increments not to exceed a maximum of ten percent (10%), during each Plan Year, in the Retirement Option, the Seven Year Option, or a
combination thereof. Deferrals of Bonus shall not be permitted. 
 2. Matching Awards. The Company shall contribute to
each Participant’s Account, as a Matching Award, an amount equal to one hundred percent (100%) of the amount of Salary deferred by the Participant. Such contribution shall be credited at the time of the crediting of the Salary Deferral
amount to be matched. 
 3. Investments, Earnings and Valuation. 
 (a) The Trustee shall invest, as soon as administratively feasible, all contributions received for Accounts held in Trust under the Seven
Year Option of the Plan in a fixed income fund of investment grade securities under investment guidelines established by the Committee. Interest received on the investments shall be reinvested in such fund. All other contributions shall be invested
in accordance with investment guidelines established by the Committee. 
 (b) At the time of distribution, the Participant will
receive his Account balance including income determined by applying the Rate. 
 (c) The total of all assets held by the Trustee
for Accounts held in Trust will be deemed held in an unsegregated fund for valuation purposes. Each month the Trustee shall determine the value of each unit by dividing the current value of the fund by the total number of units held in all such
Accounts. The value of Accounts held in Trust under the Retirement Option of the Plan shall be determined in the same manner as amounts deferred under the Seven Year Option of the Plan. 
 4. Forfeitures. The following provisions shall apply with respect to forfeitures in lieu of the provisions of Section 5.3 of the
Plan. The amounts described below shall be forfeited from an Account as of the date upon which the forfeiture is created: 
 (a)
Seven Year Option Forfeitures. 
 (i) Early Retirement. An amount equal to four percent (4%) of the total
Account balance for each full year Retirement occurs prior to Normal Retirement shall be forfeited. 
  

 B-1 

 (ii) Termination for other than Death, Disability or Retirement. If termination of
service with the Company occurs for reasons other than death, Disability, or Retirement, income on and contributions to the Matching Account shall be forfeited and income in excess of six percent (6%) per annum credited to Salary Deferrals
shall be forfeited. 
 (b) Retirement Option Forfeitures. 
 (i) Early Retirement. An amount equal to four percent (4%) of the total Account balance for all non-vested Plan Years for each
full year Retirement occurs prior to Normal Retirement shall be forfeited. 
 (ii) Termination for other than Death,
Disability or Retirement. If termination of service with the Company occurs for reasons other than death, Disability, or Retirement, income earned on and contributions to the Matching Account, for Plan Years which are nonvested, shall be
forfeited and income in excess of six percent (6%) per annum credited to Salary Deferrals shall be forfeited for all nonvested Plan Years. 
 5. Value of a Participant’s Account. The cash value of a Participant’s Account shall be determined as of the last day of the applicable Deferral Period, or, if earlier, at termination of
employment. 
 6. Form and Timing of Distributions. The form and timing of distributions shall be subject to
Section 8 of the Plan; provided, however, that the installments shall be in a fixed amount which shall amortize the value of the Participant’s Account in annual installments over the distribution period elected by the Participant under
Section 8.2(b)(iii), using the Rate as a projected earnings rate of return. 
 7. Certain Inapplicable Provisions.
The provisions of Sections 3, 4.1, 4.3, 5.1, 5.3, 6.1, 8.1(a) and 8.2(b)(iv) of the Plan shall not apply and shall be of no force or effect with respect to any portion of the Participant’s Account or his prior or future Plan participation. All
of the remaining provisions of the Plan shall remain in full force and effect. 
  

 B-2

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