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Exhibit 10.14  

 
  AMENDMENT TO
  NON-QUALIFIED TIME-BASED STOCK OPTION AGREEMENT    
    

        This Amendment (the "Amendment") to the Non-Qualified Time-Based Stock Option Agreement, dated January 27, 2004 (the "Option
Agreement"), is entered into by and between Paul Daily (the "Optionee") and Dearborn Holdings Corporation, a Delaware corporation (the "Company"). Any capitalized terms not defined herein shall have
the meaning set forth in the Option Agreement. 

        WHEREAS,
the Optionee and the Company have previously entered into a Management Agreement, dated September 24, 2003 (the "Management Agreement"), whereby the Optionee was granted
options to purchase an aggregate of 9,608 shares of the Company's common stock at a per share exercise price of $100.00; and 

        WHEREAS,
the Optionee and the Company have previously entered into the Option Agreement whereby the Optionee was granted an option (the "Option") to purchase 6,405 shares of the
Company's common stock at a per share exercise price of $100.00; and 

        WHEREAS,
the Optionee and the Company have previously entered into the Non-Qualified Performance-Based Stock Option Agreement whereby the Optionee was granted an option to
purchase 3,203 shares of the Company's common stock at a per share exercise price of $100.00; and 

        NOW,
THEREFORE, in consideration of the mutual agreements hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Optionee and the Company have agreed and do hereby agree, to (i) amend the Option Agreement to cancel the number of shares of Common Stock subject to the Option Agreement by
1,168 shares from 6,405 shares to 5,237 shares (the "reduced number of shares") and (ii) amend Section 4(d) of the Management Agreement to cancel the aggregate number of shares subject
to option by 1,168 shares from 9,608 shares to 8,440 shares. All references to Option Shares in the Option Agreement shall refer to the reduced number of shares. 

        Optionee
represents that Optionee has not received nor has Optionee been promised any compensation to enter into this Amendment. 

        Except
as otherwise provided herein, the terms of the Option Agreement and the Management Agreement shall remain in full force and effect. 

        IN
WITNESS WHEREOF, the Company has caused this Amendment to be executed by their duly authorized officers, and the Optionee has hereunto signed this Amendment, as of the date first
above written. 

	 	 	DEARBORN HOLDINGS CORPORATION
	

 	
 	

 	

 
	 	 	By:	/s/  TERENCE R. MONTGOMERY      

	 	 	Name:	Terence R. Montgomery
	 	 	Title:	Chief Financial Officer
	

 	
 	

 	

 
	 	 	/s/  PAUL DAILY      
 PAUL DAILY
	 	 	 	 

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Exhibit 10.15  

 
 

SETTLEMENT AGREEMENT AND GENERAL RELEASE OF CLAIMS    
    

        This
Settlement Agreement and General Release of Claims ("Agreement") is made as of September 29, 2003, by Terence R. Montgomery ("Montgomery") and Infrasource, Inc.
("Infrasource" or "the Company") (formerly known as Exelon Infrastructure Services, Inc.). In consideration of the mutual premises, obligations, and payments described herein and for other good
and valuable consideration, the adequacy and sufficiency of which is hereby acknowledged, Montgomery and Infrasource agree as follows: 

	1.
	Infrasource
will pay to Montgomery a lump sum of $657,621.00 on the date of the pending closing of the sale of Infrasource (the "Closing"), less all legally applicable or required
withholdings and deductions.

	2.
	For
a period of six (6) years following the Closing, Exelon will provide Montgomery coverage as an additionally insured party under Exelon's Directors and Officers Insurance
Policy to the same extent as other peer executives of Exelon and its subsidiaries for any acts or omissions by Montgomery for the period during which Montgomery served as an officer or director of the
Company through the Closing (i.e., tail coverage), subject in all cases to the terms of such policy. Exelon shall provide Montgomery with a copy of its Directors and Officers Insurance Policy within
ten business days of receiving a written request for such policy from Montgomery.

	3.
	In
exchange for the consideration described in paragraphs 1, 2 and 11 herein, which Montgomery acknowledges is being paid in consideration for Montgomery entering into this Agreement,
Montgomery knowingly and voluntarily waives and releases, except as set forth in paragraph 6 below, any and all claims that he now has or may ever have had against the following persons and
organizations:

	a.
	Exelon
Corporation, Exelon Energy Delivery Company, LLC, Exelon Generation Company, LLC, Exelon Business Services Company, Exelon Enterprises Company, LLC, Commonwealth Edison Company,
PECO Energy Company, Infrasource, Inc., and all of their respective affiliates, successors and subsidiaries, whether wholly or partially owned (the "Released Parties"); and

	b.
	Any
and all officers, directors, employees, shareholders, fiduciaries, agents, and benefit plans of any Released Party.

	4.
	Montgomery
understands and agrees that, in signing this Agreement, he is waiving and releasing any and all claims of whatever nature that he now has or may ever have had against the
Released Parties pursuant to the Employment Agreement Montgomery and Infrasource entered into on September 15, 2000, as amended (the "Employment Agreement").

	5.
	Montgomery
further understands and agrees that, in signing this Agreement, he is waiving and releasing any and all claims of whatever nature that he now has or may ever have had
against the Released Parties, including but not limited to:

	a.
	Claims
of age discrimination under the federal Age Discrimination in Employment Act, as amended;

	b.
	Claims
of race, color, sex, national origin and religious discrimination in employment under Title VII of the Civil Rights Act of 1964, as amended, or the Civil Rights Act of 1866, 42
U.S.C. § 1981, as amended;

	c.
	Claims
of disability discrimination under the Americans with Disabilities Act, as amended;

	d.
	Claims
arising under the Worker Adjustment and Retraining Notification Act of 1988, as amended, or any similar state or local statute, ordinance or regulation; 

 

	e.
	Claims
under the federal Family and Medical Leave Act or any state or local statute, ordinance or regulation regarding family or medical leave;

	f.
	Claims
arising under the Fair Labor Standards Act, as amended, or any state or local statute, ordinance or regulation regarding wages and hours of employment;

	g.
	Claims
of discrimination in employment or retaliation under any federal, state or local statute, ordinance, regulation, or constitution;

	h.
	Claims
of breach of contract or other duty or claims for paid time off, bonuses, incentive compensation or other benefits;

	i.
	Any
common law or statutory claims of wrongful discharge and any other common law tort or statutory claims; and

	j.
	Claims
for attorneys' fees.

	6.
	Notwithstanding
the foregoing, it is understood and agreed that Montgomery is not waiving or releasing:

	a.
	Ordinary
claims for benefits under the Company's retirement, savings, life and health care plan claims procedures;

	b.
	To
the extent Montgomery has not been paid a gross amount of $8,300.00 (83,000 options at $.10 per option) in exchange for his forfeiture of his Infrasource stock options, he is not
waiving the right to receive such payment; and

	c.
	Montgomery
is not waiving or releasing his right to $9,275.00 held on his behalf in the Company's Deferred Compensation Plan and such amounts shall be paid to him or held in accordance
with the terms of that Plan.

	d.
	The
obligations of the Company under this Agreement.

	7.
	Montgomery
agrees to withdraw, with prejudice, all claims, charges, complaints, grievances, and other actions, that he has filed against Infrasource and any other Released Party which
may now be pending in any state or federal court or agency.

	8.
	At
the Closing, Infrasource shall forgive Montgomery's existing tax loan in the amount of $16,095.00.

	9.
	Any
unvested portion of Montgomery's 16,700 shares of restricted stock shall vest at the Closing.

	10.
	Infrasource
acknowledges and agrees that Montgomery's anticipated employment and/or continued employment with Infrasource, at or after the Closing, shall not constitute a violation or
breach of any of Montgomery's obligations under the Employment Agreement.

	11.
	Infrasource
shall pay to Montgomery a closing bonus in the amount of $60,000.00, less all legally applicable or required withholdings and deductions, at the Closing.

	12.
	Infrasource
and all other Released Parties expressly deny any liability or wrongdoing of any nature whatsoever with regard to Montgomery and his employment. Nothing in this Agreement
shall be construed as an admission or concession by Infrasource or any other Released Party of liability or wrongdoing of any nature, and Montgomery agrees that he may not introduce this Agreement or
any or its terms in any action or proceeding as evidence of such an admission or concession. Nothing, however, shall prevent either party from introducing this Agreement in any action to enforce any
or all of the terms hereof.

	13.
	Montgomery
agrees not to engage in any action that might reveal the existence or terms of this Agreement, to anyone, including, but not limited to, past, present, and future employees
of the 

2

 

Released
Parties, except as required by his official duties as Chief Financial Officer and except that Montgomery may reveal the terms of this Agreement to his attorney, tax preparer, and spouse or
where otherwise required by law. 

	14.
	This
Agreement shall be governed by the laws of the Commonwealth of Pennsylvania, to the extent such laws are not preempted by applicable federal law.

	15.
	Each
of the Released Parties shall be a third party beneficiary of this Agreement, and this Agreement shall not be amended in a manner that adversely affects any Released Party
without the advance written consent of such Released Party.

	16.
	The
parties agree that this Agreement embodies the entire agreement and understanding of the parties with regard to the matters described herein and supersedes any and all prior
and/or contemporaneous agreements and understandings, whether oral or written, between the parties. The parties each agree and acknowledge that they have not relied on any oral or written statements
other than those contained herein, and that this Agreement may be modified only in writing.

	17.
	Montgomery
acknowledges that, at the time he was given this Agreement, he was provided at least twenty-one (21) days in which to consider whether he would sign this
Agreement. Montgomery further acknowledges that, in the event that he has signed this Agreement before the expiration of his 21 day consideration period, his decision to do so is knowing,
voluntary and uncoerced. Montgomery also acknowledges that, at the time he was given this Agreement, he was informed in writing that he should consult with an attorney before signing this Agreement.
Montgomery has had an opportunity to consult with an attorney and has either done so or has made a knowing, voluntary and uncoerced decision to sign this Agreement without consulting with legal
counsel.

	18.
	Montgomery
acknowledges that he has been informed that he may revoke his waiver of claims arising under the Age Discrimination in Employment Act by delivering a letter to Glenn D.
Newman, Deputy General Counsel, Exelon Business Services Company Legal Department, 10 South Dearborn, 35th Floor, Chicago 60603 within seven days of the date the has signed this
Agreement. If Montgomery does not notify the Company of the revocation of such waiver, this Agreement shall be voidable in its entirety by Infrasource in its sole discretion upon written notification
to Montgomery. If Montgomery does not revoke his waiver of such claims within the seven-day period described in this paragraph, this Agreement and General Release will be legally binding
and enforceable.

	19.
	The
obligations of the parties under this agreement are contingent upon the consummation of the Closing. All actions and payments described to occur at the Closing shall occur
simultaneously with the Closing.

	20.
	This
Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original and all of which together shall constitute one and the same instrument. 

3

 

THE
PARTIES EXPRESSLY ACKNOWLEDGE THAT THEY HAVE READ THE FOREGOING, THAT THEY HAVE HAD SUFFICIENT TIME AND OPPORTUNITY TO REVIEW THE AGREEMENT WITH AN ATTORNEY OF THEIR CHOOSING, THAT THEY UNDERSTAND
THE AGREEMENT'S TERMS AND CONDITIONS, AND THAT THEY INTEND TO BE LEGALLY BOUND THEREBY. 

	 	 	 	INFRASOURCE, INC.:
	 	 	 	 	 
	

 	

/s/  TERENCE R. MONTGOMERY      
 Terence R. Montgomery	
 	

By:	

/s/  GEORGE H. GILMORE JR.      

	 	 	 	 	 
	September 24, 2003

Date	 	22 September 2003

Date

Exelon
Corporation is executing this Agreement solely for the purposes of its obligations in Paragraph 2 of this Agreement. Exelon is not a party to any other provision of this Agreement. 

	EXELON CORPORATION	 	 	 
	 	 	 	 	 
	

By:	

/s/  GEORGE H. GILMORE JR.      
	
 	

 	

 
	 	 	 	 	 
	22 September 2003

Date	 	 	 

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SETTLEMENT AGREEMENT AND GENERAL RELEASE OF CLAIMS

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