Document:

exv10w1

 

Exhibit 10.1

 

 

 

 

 

CDW COMPUTER CENTERS, INC.

DEFERRED COMPENSATION PLAN

 

 

CDW COMPUTER CENTERS, INC.

DEFERRED COMPENSATION PLAN

Table of Contents

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Page
	1.	 	INTRODUCTION	 	 	1	 
	 	 	1.1.	 	Adoption and Name of Plan	 	 	1	 
	 	 	1.2.	 	Purposes of Plan	 	 	1	 
	 	 	1.3.	 	“Top Hat” Pension Benefit Plan	 	 	1	 
	 	 	1.4.	 	Plan Unfunded	 	 	1	 
	 	 	1.5.	 	Effective Date	 	 	1	 
	 	 	1.6.	 	Administration	 	 	1	 
	 	 	 	 	 	 	 
	 	 	 	 
	2.	 	DEFINITIONS AND CONSTRUCTION	 	 	1	 
	 	 	2.1.	 	Definitions	 	 	1	 
	 	 	 	 	2.1.1.	 	Account
	 	 	2	 
	 	 	 	 	2.1.2.	 	Affiliate
	 	 	2	 
	 	 	 	 	2.1.3.	 	Base Salary
	 	 	2	 
	 	 	 	 	2.1.4.	 	Base Salary Deferral
	 	 	2	 
	 	 	 	 	2.1.5.	 	Beneficiary
	 	 	2	 
	 	 	 	 	2.1.6.	 	Board
	 	 	2	 
	 	 	 	 	2.1.7.	 	Bonus Compensation
	 	 	2	 
	 	 	 	 	2.1.8.	 	Bonus Deferral
	 	 	2	 
	 	 	 	 	2.1.9.	 	Code.
	 	 	2	 
	 	 	 	 	2.1.10.	 	Committee.
	 	 	3	 
	 	 	 	 	2.1.11.	 	Commissions.
	 	 	3	 
	 	 	 	 	2.1.12.	 	Commission Deferral
	 	 	3	 
	 	 	 	 	2.1.13.	 	Company
	 	 	3	 
	 	 	 	 	2.1.14.	 	Company Contribution
	 	 	3	 
	 	 	 	 	2.1.15.	 	Deferral
	 	 	3	 
	 	 	 	 	2.1.16.	 	Effective Date
	 	 	3	 
	 	 	 	 	2.1.17.	 	Employee
	 	 	3	 
	 	 	 	 	2.1.18.	 	ERISA
	 	 	3	 
	 	 	 	 	2.1.19.	 	401(k) Plan
	 	 	3	 
	 	 	 	 	2.1.20.	 	Matching Contribution.
	 	 	4	 
	 	 	 	 	2.1.21.	 	Participant
	 	 	4	 
	 	 	 	 	2.1.22.	 	Participation Agreement
	 	 	4	 
	 	 	 	 	2.1.23.	 	Plan
	 	 	4	 
	 	 	 	 	2.1.24.	 	Plan Year
	 	 	4	 
	 	 	 	 	2.1.25.	 	Retirement Date
	 	 	4	 
	 	 	 	 	2.1.26.	 	Valuation Date
	 	 	4	 
	 	 	 	 	2.1.27.	 	Year of Service
	 	 	5	 
	 	 	2.2.	 	Number and Gender	 	 	5	 
	 	 	2.3.	 	Headings	 	 	5	 

i

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Page
	3.	 	PARTICIPATION AND ELIGIBILITY	 	 	5	 
	 	 	3.1.	 	Participation	 	 	5	 
	 	 	3.2.	 	Commencement of Participation	 	 	5	 
	 	 	3.3.	 	Cessation of Active Participation	 	 	5	 
	 	 	 	 	 	 	 
	 	 	 	 
	4.	 	DEFERRALS, MATCHING CONTRIBUTIONS AND COMPANY CONTRIBUTIONS	 	 	6	 
	 	 	4.1.	 	Deferrals by Participants	 	 	6	 
	 	 	4.2.	 	Effective Date of Participation Agreement	 	 	6	 
	 	 	4.3.	 	Modification or Revocation of Election by Participant	 	 	7	 
	 	 	4.4.	 	Matching Contributions	 	 	7	 
	 	 	4.5.	 	Company Contribution	 	 	7	 
	 	 	4.6.	 	Hardship Distribution Under 401(k) Plan	 	 	7	 
	 	 	 	 	 	 	 
	 	 	 	 
	5.	 	VESTING, IN-SERVICE DISTRIBUTIONS AND INVESTMENT ELECTIONS	 	 	7	 
	 	 	5.1.	 	Vesting	 	 	7	 
	 	 	5.2.	 	Election of In-Service Distribution	 	 	8	 
	 	 	5.3.	 	Investment Elections	 	 	8	 
	 	 	 	 	 	 	 
	 	 	 	 
	6.	 	ACCOUNTS	 	 	8	 
	 	 	6.1.	 	Establishment of Bookkeeping Accounts	 	 	8	 
	 	 	6.2.	 	Subaccounts	 	 	8	 
	 	 	6.3.	 	Hypothetical Nature of Accounts	 	 	8	 
	 	 	 	 	 	 	 
	 	 	 	 
	7.	 	PAYMENT OF ACCOUNT	 	 	9	 
	 	 	7.1.	 	In-Service Distribution or Distribution Upon Termination of Employment	 	 	9	 
	 	 	7.2.	 	Time of Distribution and Valuation	 	 	9	 
	 	 	7.3.	 	Form of Payment or Payments	 	 	9	 
	 	 	7.4.	 	Accelerated Distribution	 	 	10	 
	 	 	7.5.	 	Designation of Beneficiaries	 	 	10	 
	 	 	7.6.	 	Amendments	 	 	10	 
	 	 	7.7.	 	Change in Marital Status	 	 	11	 
	 	 	7.8.	 	No Beneficiary Designation.	 	 	11	 
	 	 	7.9.	 	Unclaimed Benefits	 	 	11	 
	 	 	7.10.	 	Hardship Withdrawals	 	 	12	 
	 	 	7.11.	 	Withholding	 	 	12	 
	 	 	 	 	 	 	 
	 	 	 	 
	8.	 	ADMINISTRATION	 	 	12	 
	 	 	8.1.	 	Committee	 	 	12	 
	 	 	8.2.	 	General Powers of Administration	 	 	12	 
	 	 	8.3.	 	Indemnification of Committee	 	 	13	 
	 	 	 	 	 	 	 
	 	 	 	 
	9.	 	DETERMINATION OF BENEFITS, CLAIMS PROCEDURE AND ADMINISTRATION	 	 	13	 
	 	 	9.1.	 	Claims	 	 	13	 
	 	 	9.2.	 	Claim Decision	 	 	13	 
	 	 	9.3.	 	Request for Review	 	 	14	 

ii

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Page
	 	 	9.4.	 	Review of Decision	 	 	14	 
	 	 	9.5.	 	Discretionary Authority	 	 	15	 
	 	 	 	 	 	 	 
	 	 	 	 
	10.	 	MISCELLANEOUS	 	 	15	 
	 	 	10.1.	 	Plan Not a Contract of Employment	 	 	15	 
	 	 	10.2.	 	Non-Assignability of Benefits	 	 	15	 
	 	 	10.3.	 	Amendment and Termination	 	 	16	 
	 	 	10.4.	 	Unsecured General Creditor Status of Employee	 	 	16	 
	 	 	10.5.	 	Severability	 	 	16	 
	 	 	10.6.	 	Governing Laws	 	 	17	 
	 	 	10.7.	 	Binding Effect	 	 	17	 
	 	 	10.8.	 	Entire Agreement	 	 	17	 
	 	 	10.9.	 	No Guarantee of Tax Consequences	 	 	17	 
	 	 	10.10.	 	Sole Obligor	 	 	17	 

iii

 

CDW COMPUTER CENTERS, INC.
DEFERRED COMPENSATION PLAN

	1.	 	INTRODUCTION

	 	1.1.	 	Adoption and Name of Plan.

     The Company adopts the CDW Computer Centers, Inc. Deferred Compensation Plan.

	 	1.2.	 	Purposes of Plan.

              The purposes of the Plan are to provide deferred compensation for a select group of
management or highly compensated Employees of the Company and to permit them to make
deferrals in excess of the elective contributions they are permitted to make to the 401(k)
Plan due to limitations imposed by the Code.

	 	1.3.	 	“Top Hat” Pension Benefit Plan.

              The Plan is an “employee pension benefit plan” within the meaning of ERISA Section
3(2). However, the Plan is an unfunded deferred compensation plan maintained only for a
select group of management or highly compensated employees and, therefore, is exempt from
Parts 2, 3 and 4 of Title 1 of ERISA. The Plan is not intended to qualify under Code
Section 401(a).

	 	1.4.	 	Plan Unfunded.

              The Plan is unfunded. All benefits will be paid from the general assets of the
Company, which will continue to be subject to the claims of the Company’s creditors. No
amounts will be set aside for the benefit of Plan Participants or their Beneficiaries.

	 	1.5.	 	Effective Date.

              The Plan, as amended and restated herein, is effective as of January 1, 2002.

	 	1.6.	 	Administration.

              The Plan shall be administered by the Committee.

	2.	 	DEFINITIONS AND CONSTRUCTION

	 	2.1.	 	Definitions.

              For purposes of the Plan, the following words and phrases shall have the respective
meanings set forth below, unless the context clearly requires a different meaning:

 

 

	 	2.1.1.	 	Account.

“Account” means the bookkeeping account maintained on behalf of each
Participant pursuant to Section 6.1.

	 	2.1.2.	 	Affiliate.

“Affiliate” means any entity that directly, or indirectly through one or more
intermediaries, controls or is controlled by, or is under common control with, CDW
Computer Centers, Inc.

	 	2.1.3.	 	Base Salary.

“Base Salary” means the base rate of cash compensation paid by the Company to
or for the benefit of a Participant for services rendered.

	 	2.1.4.	 	Base Salary Deferral.

“Base Salary Deferral” means the amount of a Participant’s Base Salary which
the Participant elects to have withheld on a pre-tax basis and credited to his
Account pursuant to Section 4.1.

	 	2.1.5.	 	Beneficiary.

“Beneficiary” means the person or entity designated by the Participant in
accordance with Section 7.5 or, in the absence of an effective designation, the
person or entity described in Section 7.8.

	 	2.1.6.	 	Board.

“Board” means the board of directors of CDW Computer Centers, Inc.

	 	2.1.7.	 	Bonus Compensation.

“Bonus Compensation” means the amount paid to a Participant under the regular
bonus arrangement maintained by the Company. Bonus Compensation shall not include
special bonuses as defined by the Company.

	 	2.1.8.	 	Bonus Deferral.

“Bonus Deferral” means the amount of a Participant’s Bonus Compensation which
the Participant elects to have withheld on a pre-tax basis and credited to his
account pursuant to Section 4.1.

	 	2.1.9.	 	Code.

“Code” means the Internal Revenue Code of 1986, as amended.

2

 

	 	2.1.10.	 	Committee.

              “Committee” means the committee which administers the Plan as described in
Section 8.

	 	2.1.11.	 	Commissions.

              “Commissions” means remuneration paid by the Company to a Participant based on
sales of the Company’s products and/or services.

	 	2.1.12.	 	Commission Deferral.

              “Commission Deferral” means the amount of a Participant’s Commissions which the
Participant elects to have withheld on a pre-tax basis and credited to his Account
pursuant to Section 4.1.

	 	2.1.13.	 	Company.

              “Company” means CDW Computer Centers, Inc. and any Affiliate.

	 	2.1.14.	 	Company Contribution.

              “Company Contribution” means the contribution made by the Company for a
Participant which is based on such criteria as the Company shall determine.

	 	2.1.15.	 	Deferral.

              “Deferral” means a Base Salary Deferral, Bonus Deferral and/or a Commission
Deferral.

	 	2.1.16.	 	Effective Date.

              “Effective Date” means January 1, 2002.

	 	2.1.17.	 	Employee.

              “Employee” means any common-law employee of the Company.

	 	2.1.18.	 	ERISA.

              “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

	 	2.1.19.	 	401(k) Plan.

              “401(k) Plan” means the CDW Computer Centers, Inc. Employees’ Profit Sharing
Plan & Trust, as amended from time to time, or any successor qualified 401(k) plan
maintained by the Company.

3

 

	 	2.1.20.	 	Matching Contribution.

“Matching Contribution” means the contribution made by the Company for a
Participant based on a Deferral made by the Participant.

	 	2.1.21.	 	Participant.

“Participant” means each Employee who has been selected for participation in
the Plan and who has become a Participant pursuant to Section 3.

	 	2.1.22.	 	Participation Agreement.

“Participation Agreement” means the written agreement pursuant to which the
Participant elects the amount of his Base Salary, Bonus Compensation, and/or
Commissions to be deferred pursuant to the Plan, the deemed investment of amounts
credited to his Account, and such other matters as the Committee shall determine
from time to time.

	 	2.1.23.	 	Plan.
	 

	 	 	 	“Plan” means the CDW Computer Centers, Inc. Deferred Compensation Plan, as
amended from time to time.

	 	2.1.24.	 	Plan Year.

“Plan Year” means the twelve-consecutive month period commencing January 1 of
each year ending on the following December 31.

	 	2.1.25.	 	Retirement Date.
	 

	 	 	 	“Retirement Date” means the date a Participant

	 	(a)	 	voluntarily terminates his employment with the Company

         (i)    on or after he has attained at least sixty-two (62) years of age
and completed at least ten (10) Years of Service, or

         (ii)   with the Committee’s consent; or

	 	(b)	 	qualifies for disability under the Company’s group long-term disability
plan.

	 	2.1.26.	 	Valuation Date.

“Valuation Date” means the last business day of each calendar month and each
special valuation date designated by the Committee.

4

 

	 	2.1.27.	 	Year of Service.

              “Year of Service” has the same meaning as in the 401(k) Plan for purposes of
vesting.

	 	2.2.	 	Number and Gender.

              Wherever appropriate, words used in the singular shall be considered to include the
plural and words used in the plural shall be considered to include the singular. The
masculine gender, where appearing in the Plan, shall be deemed to include the feminine
gender.

	 	2.3.	 	Headings.

              The headings are included solely for convenience, and if there is any conflict between
any heading and the text of the Plan, the Plan text shall control.

	3.	 	PARTICIPATION AND ELIGIBILITY

	 	3.1.	 	Participation.

              Participants in the Plan for a Plan Year are those Employees who

          (a)    are subject to the income tax laws of the United States,

          (b)    are members of a select group of highly compensated or management
Employees,

          (c)    have elected to contribute to the 401(k) Plan the maximum amount of
elective contributions permitted under the Code for such Plan Year, and

          (d)    are selected by the Committee, in its sole discretion, as Participants.

	 	 	 	The Committee shall notify each Participant of his selection as a Participant. Subject to
provisions of Section 3.3, a Participant who continues to satisfy the requirements of
3.1(a), (b) and (c) above shall remain eligible to continue participation in the Plan for
each Plan Year following his initial year of selection to participate in the Plan.

	 	3.2.	 	Commencement of Participation.

              An Employee shall become a Participant effective as of the date on which his
Participation Agreement becomes effective under Section 4.2.

	 	3.3.	 	Cessation of Active Participation.

              Notwithstanding any provision of the Plan to the contrary, an individual who has become
a Participant in the Plan shall cease to be a Participant effective as of any date
designated by the Committee. In the event of such cessation, the second to last sentence

5

 

	 	 	of Section 4.1 shall apply as if such cessation had been a termination of employment.
Any such Committee action shall be communicated to such Participant prior to the effective
date of such action. Such cessation shall have no effect upon amounts then credited to his
Account and shall not preclude the individual from subsequently being selected to be a
Participant.

	4.	 	DEFERRALS, MATCHING CONTRIBUTIONS AND COMPANY CONTRIBUTIONS

	 	4.1.	 	Deferrals by Participants.

              Before the first day of each Plan Year, a Participant may file with the Committee a
Participation Agreement pursuant to which such Participant elects to make Deferrals. The
minimum Deferral for a Plan Year is Five Thousand Dollars ($5,000.00), and, unless otherwise
permitted by the Committee, the maximum Deferral for a Plan Year is One Hundred Thousand
Dollars ($100,000.00). The minimum Deferral amount shall be prorated for any Plan Year in
which an individual is not a Participant for the entire Plan Year, based on full months of
participation, and, if the Plan Year is less than twelve (12) months, based on the number of
months in the Plan Year. Deferrals must be in whole percentages and cannot exceed

	 	(a)	 	fifty percent (50%) of Base Salary,
	 
	 	(b)	 	fifty percent (50%) of Commissions, and
	 
	 	(c)	 	one hundred percent (100%) of Bonus Compensation.

Any Participant Deferral election shall be subject to rules prescribed by the Committee.
Deferrals will be credited to the Account of each Participant at the time they would have
been paid to the Participant in cash but for the election to defer. If a Participant’s
employment has terminated when a Deferral would otherwise be credited to his Account, the
amount which would have been deferred and credited will be paid to him in cash. In the case
of a Bonus Deferral, the election must be made at least ninety (90) days before the Bonus
which is to be deferred would otherwise be paid.

	 	4.2.	 	Effective Date of Participation Agreement.

              A Participant’s Participation Agreement shall normally become effective on the first
day of the Plan Year to which it relates. The Participation Agreement of Employees who are
first eligible during a Plan Year shall become effective as of the first day of the month
following completion of a Participation Agreement provided the Participation Agreement is
completed within thirty (30) days of the date the Employee first becomes eligible.
Participation Agreements shall relate only to compensation earned after such agreement is
completed and executed. If a Participant fails to complete a Participation Agreement before
the first day of the Plan Year in which Participant shall earn the compensation to which the
Participation Agreement relates, the Participant shall be deemed to have elected not to make
any Deferrals for such Plan Year.

6

 

	 	4.3.	 	Modification or Revocation of Election by Participant.

              A Participant may reduce or suspend his Deferrals at any time during a Plan Year on a
prospective basis if the Committee determines that he has suffered a severe, sudden and
unforeseeable hardship as is more fully described in Section 7.10. Under no circumstances
may a Participant’s Participation Agreement be made, modified or revoked retroactively.

	 	4.4.	 	Matching Contribution.

              For each Plan Year, the Account of each Participant shall be credited with a Matching
Contribution equal to such amount, if any, as the Company shall determine.

	 	4.5.	 	Company Contribution.

              For each Plan Year, the Account of each Participant shall be credited with a Company
Contribution equal to such amount, if any, as the Company shall determine.

	 	4.6.	 	Hardship Distribution Under 401(k) Plan.

              If required by the terms of the 401(k) Plan, a Participant who receives a hardship
distribution under the 401(k) Plan shall not be eligible to make Deferrals for the period of
suspension after receipt of the hardship distribution that is required under the 401(k)
Plan.

	5.	 	VESTING, IN-SERVICE DISTRIBUTIONS AND INVESTMENT ELECTIONS

	 	5.1.	 	Vesting.

              A Participant shall be 100% vested at all times in the amount credited to his Account
which is attributable to his Deferrals. The amount credited to his Account attributable to
Matching Contributions shall vest in accordance with the vesting provisions of the 401(k)
Plan applicable to the vesting of matching contributions. The amount credited to a
Participant’s Account attributable to Company Contributions for each Plan Year shall vest in
accordance with the schedule determined by the Committee from time to time. Such
determination for a Plan Year shall be made no later than the time the Company Contribution,
if any, for the Plan Year is determined. In addition, to the extent not already vested,
amounts credited to a Participant’s Account attributable to Matching Contributions and
Company Contributions shall be fully vested upon a Participant’s Retirement Date or his
death while employed. All provisions of the Plan relating to the distribution of a
Participant’s Account shall mean only the vested portion of such Account. Since the Plan is
unfunded, the portion of a Participant’s Account which is not vested and therefore not
distributed with the vested portion of his Account shall remain property of the Company and
not be allocated to Accounts of other Participants or otherwise inure to their benefit.

7

 

	 	5.2.	 	Election of In-Service Distribution.

              If a Participant desires an in-service distribution of all or a percentage of his
Deferrals for a Plan Year and earnings on such Deferrals, he must so elect on his
Participation Agreement for such Plan Year. In the case of any such election, the
in-service distribution must be at least five (5) years after the end of the Plan Year for
which the Deferrals are made. If the Participant elects an in-service distribution, such
election shall not include Matching Contributions, Company Contributions, and earnings on
such contributions. All in-service distributions shall be paid in a lump sum.

	 	5.3.	 	Investment Elections.

              Amounts credited to a Participant’s Account shall be credited and charged with gains
and losses, as the case may be, based on hypothetical investments elected by the
Participant. A Participant may elect different investment allocations for new contributions
and existing Account balances. Only whole percentages may be elected, the minimum
percentage for any allocation is ten percent (10%), and the total elections must allocate
one hundred percent (100%) of all new contributions and one hundred percent (100%) of all
existing Account balances. Investment elections may be changed once per calendar quarter,
effective as of the first day of such quarter, by written direction given at least seven (7)
days before the start of such quarter. The hypothetical investment alternatives and the
procedures relating to the election of such investments, other than those set forth in this
Section 5.3, shall be determined by the Committee from time to time. A Participant’s
Account shall be adjusted as of each Valuation Date to reflect hypothetical investment gains
and losses.

	6.	 	ACCOUNTS

	 	6.1.	 	Establishment of Bookkeeping Accounts.

              A separate bookkeeping Account shall be maintained for each Participant. Such account
shall be credited with the Deferrals, Matching Contributions and Company Contributions,
credited (or charged, as the case may be) with the hypothetical investment gain and losses
determined pursuant to Section 5.3, and charged with distributions made to or with respect
to the Participant.

	 	6.2.	 	Subaccounts.

              Within each Participant’s bookkeeping Account, separate subaccounts shall be maintained
to the extent necessary for the administration of the Plan.

	 	6.3.	 	Hypothetical Nature of Accounts.

              The Account established under this Section 6 shall be hypothetical in nature and shall
be maintained for bookkeeping purposes only, so that Deferrals, Matching Contributions and
Company Contributions can be credited to the Participant and so that hypothetical investment
gains and losses on such amounts so credited can be credited (or charged, as the case may
be). Neither the Plan nor any of the Accounts (or subaccounts)

8

 

shall hold any actual funds or assets. The right of any person to receive one or more
payments under the Plan shall be an unsecured claim against the general assets of the
Company. Any liability of the Company to any Participant, former Participant, or
Beneficiary with respect to a right to payment shall be based solely upon contractual
obligations created by the Plan. Neither the Company, the Board, nor any other person shall
be deemed to be a trustee of any amounts to be paid under the Plan. Nothing contained in
the Plan, and no action taken pursuant to its provisions, shall create or be construed to
create a trust of any kind, or a fiduciary relationship, between the Company and a
Participant, former Participant, Beneficiary, or any other person.

	7.	 	PAYMENT OF ACCOUNT

	 	7.1.	 	In-Service Distribution or Distribution Upon Termination of Employment.

              Distribution of that portion of a Participant’s Account for which an in-service
distribution has been elected pursuant to Section 5.2 shall be made at the time specified in
such election unless the Participant’s employment terminates prior to such time, in which
event the remaining provisions of this Section 7.1, shall apply. Except as provided below,
a Participant’s entire Account shall be distributed to him (or his Beneficiary in the event
of his death) following the earliest to occur of the following:

	 	(i)	 	the Participant’s death;
	 
	 	(ii)	 	the Participant’s Retirement Date; or
	 
	 	(iii)	 	the Participant’s other termination of employment.

	 	 	Notwithstanding the foregoing, if a Participant’s Retirement Date is as defined in Section
2.1.25(b), if requested by the Participant and permitted by the Committee, distribution may
be deferred up until the earlier of the date the Participant attains age sixty two (62) or
the Participant’s death.

	 	7.2.	 	Time of Distribution and Valuation.

              Upon a distributable event described in Section 7.1, the balance of a Participant’s
Account shall be determined as of the Valuation Date immediately following such event.
Distribution will be made or begin to be made as soon as practical after such Valuation Date
but in no event later than sixty (60) days following the distributable event.

	 	7.3.	 	Form of Payment or Payments.

              If the value of the Participant’s Account as of the Valuation Date described in Section
7.2 is at least Five Thousand Dollars ($5,000.00), benefits which become payable after the
Participant’s Retirement Date or his death shall be paid in the form elected by the
Participant. The form elected shall apply to the entire Account. The election may be
amended, provided that the amended election does not increase the duration of payments in
the previous election and the election is made no later than twelve (12) months prior to his
Retirement Date or death. The forms of distribution are:

9

 

               (a)    A lump sum amount; or

               (b)    Substantially equal monthly installments over a period of sixty (60), one hundred
twenty (120), or one hundred eighty (180) months or substantially equal annual installments
over a period of five (5), ten (10), or fifteen (15) years. The Committee shall have the
right from time to time to change the amount of each installment to reflect any differential
between earnings credited to the Account and those assumed when the initial or last
determination of the amount of each installment was made. Hypothetical investment gains and
losses on the unpaid balance shall continue to be credited and charged to subaccounts in
accordance with the provisions of Section 5.3.

	 	 	In all cases other than those described in the first sentence of this Section 7.3, the form
of benefit shall be a lump sum. If a former Participant is receiving an installment form of
distribution and dies prior to the distribution of his entire Account, distributions will be
continued to his Beneficiary.

	 	7.4.	 	Accelerated Distribution.

              Notwithstanding any other provision of the Plan, a Participant shall be entitled to
receive, upon written request to the Committee, a lump sum distribution of all or a portion
of his Account balance, valued as of the end of the month immediately prior to the month in
which such request is made, subject to a penalty of ten percent (10%) of the gross amount of
such distribution, which shall be forfeited. A Participant who receives a distribution
under this Section 7.4 shall not be eligible to make Deferrals until the first day of the
second Plan Year which begins after such distribution. The amount payable under this
section shall be paid in a lump sum as soon as practical following the receipt of the
Participant’s written request by the Committee and the valuation of his Account.

	 	7.5.	 	Designation of Beneficiaries.

              Each Participant shall have the right, at any time, to designate one (1) or more
persons or an entity as Beneficiary (both primary as well as secondary) to whom benefits
under this Plan shall be paid in the event of a Participant’s death prior to complete
distribution of the Participant’s Account. Each Beneficiary designation shall be in a
written form prescribed by the Committee and will be effective only when filed with the
Committee during the Participant’s lifetime. Designation by a married Participant who is a
resident of a community property state of a Beneficiary other than the Participant’s spouse
shall not be effective unless the spouse executes a written consent that acknowledges the
effect of the designation and is witnessed by a notary public, or the consent cannot be
obtained because the spouse cannot be located.

	 	7.6.	 	Amendments.

              Except as provided below, any nonspousal designation of Beneficiary may be changed by a
Participant without the consent of such Beneficiary by the filing of a new designation with
the Committee. The filing of a new designation shall cancel all designations previously
filed.

10

 

	 	7.7.	 	Change in Marital Status.

              If the marital status of a Participant residing in a community property state changes
after the Participant has designated a Beneficiary, the following shall apply:

              (a)    If the Participant is married at death but was unmarried when the designation was
made, the designation shall be void unless the spouse has consented to it in the manner
prescribed above.

              (b)    If the Participant is unmarried at death but was married when the designation was
made:

            (i) The designation shall be void if the spouse was named as Beneficiary.

            (ii) The designation shall remain valid if a nonspouse Beneficiary was named.

              (c)    If the Participant was married when the designation was made and is married to a
different spouse at death, the designation shall be void unless the new spouse has consented
to it in the manner prescribed above.

	 	7.8.	 	No Beneficiary Designation.

              If any Participant fails to designate a Beneficiary in the manner provided above, or if
the Beneficiary designated by a deceased Participant dies before the Participant or before
complete distribution of the Participant’s benefits, the Participant’s Beneficiary shall be
the person in the first of the following classes in which there is a survivor:

              (a)    The Participant’s surviving spouse;

              (b)    The Participant’s children in equal shares, except that if any of the children
predeceases the Participant but leaves issue surviving, then such issue shall take by right
of representation the share the parent would have taken if living;

              (c)    The Participant’s estate.

	 	7.9.	 	Unclaimed Benefits.

              If the Committee is unable to locate the Participant or Beneficiary to whom a benefit
is payable, such benefit may be forfeited to the Company, upon the Committee’s
determination. Notwithstanding the foregoing, if subsequent to any such forfeiture the
Participant or Beneficiary to whom such benefit is payable makes a valid claim for such
benefit, such forfeited benefit shall be paid by the Company or restored to the Plan by the
Company.

11

 

	 	7.10.	 	Hardship Withdrawals.

              A Participant may apply in writing to the Committee for, and the Committee may permit,
a hardship withdrawal of all (valued as of the last Valuation Date prior to the month in
which the application is made) or any part of a Participant’s Account if the Committee, in
its sole discretion, determines that the Participant has incurred a severe financial
hardship resulting from a sudden and unexpected illness or accident of the Participant or of
a dependent (as defined in section 152(a) of the Code) of the 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, as
determined by the Committee, in its sole and absolute discretion. The amount that may be
withdrawn shall be limited to the amount reasonably necessary to relieve the hardship or
financial emergency upon which the request is based, plus the federal and state taxes due on
the withdrawal, as determined by the Committee. The Committee may require a Participant who
requests a hardship withdrawal to submit such evidence as the Committee, in its sole
discretion, deems necessary or appropriate to substantiate the circumstances upon which the
request is based. A Participant who receives a distribution under this Section 7.10 shall
not be eligible to make Deferrals until the first day of the second Plan Year which begins
after such distribution.

	 	7.11.	 	Withholding.

              All Deferrals and distributions shall be subject to legally required income and
employment tax withholding.

	8.	 	ADMINISTRATION

	 	8.1.	 	Committee.

              The Plan shall be administered by a Committee, the members of which shall be designated
by the Compensation Committee of the Board. The Committee shall be responsible for the
general operation and administration of the Plan and for carrying out the provisions
thereof. The Committee may delegate to others certain aspects of the management and
operational responsibilities of the Plan including the employment of advisors and the
delegation of ministerial duties to qualified individuals, provided that such delegation is
in writing. No member of the Committee who is a Participant shall participate in any matter
relating to his status as a Participant or his rights or entitlement to benefits as a
Participant.

	 	8.2.	 	General Powers of Administration.

              The Committee shall have all powers necessary or appropriate to enable it to carry out
its administrative duties. Not in limitation, but in application of the foregoing, the
Committee shall have discretionary authority to construe and interpret the Plan and
determine all questions that may arise hereunder as to the status and rights of Employees,
Participants, and Beneficiaries. The Committee may exercise the powers hereby granted in
its sole and absolute discretion. The Committee may promulgate such regulations as it deems
appropriate for the operation and administration of the Plan. No member of the

12

 

Committee shall be personally liable for any actions taken by the Committee unless the
member’s action involves gross negligence or willful misconduct.

	 	8.3.	 	Indemnification of Committee.

              The Company shall indemnify the members of the Committee against any and all claims,
losses, damages, expenses, including attorney’s fees, incurred by them, and any liability,
including any amounts paid in settlement with the Company’s approval, arising from their
action or failure to act, except when the same is judicially determined to be attributable
to their gross negligence or willful misconduct.

	9.	 	DETERMINATION OF BENEFITS, CLAIMS PROCEDURE AND ADMINISTRATION

	 	9.1.	 	Claims.

              A Participant, beneficiary or other person who believes that he or she is being denied
a benefit to which he is entitled (hereinafter referred to as “Claimant”), or his duly
authorized representative, may file a written request for such benefit with the Committee
setting forth his claim, including the nature of the claim, the facts supporting the claim,
the amount claimed and the address of the Claimant. The request must be addressed to the
Committee at the Company at its then principal place of business.

	 	9.2.	 	Claim Decision.

              Upon receipt of a claim, the Committee shall review the claim and, unless special
circumstances require an extension of time, within 90 days after receipt of the claim, give
written or electronic notice of its decision with respect to the claim. If special
circumstances require an extension of time, the Committee shall advise the Claimant in
writing during the initial 90-day period, indicating the special circumstances requiring an
extension and the date by which the Committee expects to render the benefit determination.
In no event, however, shall such extension exceed 90 days.

              If the claim is denied in whole or in part, the Committee will provide written or
electronic notice of its decision with respect to such claim, using language calculated to
be understood by the Claimant, setting forth:

              (a)    the specific reason or reasons for the denial;

              (b)    the specific references to pertinent Plan provisions on which the denial is based;

              (c)    a description of any additional material or information necessary for the Claimant
to perfect the claim and an explanation as to why such material or such information is
necessary;

              (d)    appropriate information as to the steps to be taken if the Claimant wishes to
submit the claim for review, including a statement of the Claimant’s right to bring a

13

 

civil action under Section 502(a) of ERISA following an adverse benefit determination
on review; and

              (e)    the time limits for requesting a review of the denial under Section 9.3 and for the
actual review of the denial under Section 9.4.

	 	9.3.	 	Request for Review.

              Within sixty days after the receipt by the Claimant of the denial notice described
above, the Claimant may request in writing that the Secretary of the Company (“Secretary”)
review the Committee’s prior determination. Such request must be addressed to the Secretary
at the Company at its then principal place of business. Within the same 60-day period, the
Claimant or his duly authorized representative may submit written comments, documents,
records or other information relating to the denied claim, which such information shall be
considered in the review under this Section without regard to whether such information was
submitted or considered in the initial benefit determination.

              The Claimant or his duly authorized representative also shall be provided, upon request
and free of charge, reasonable access to, and copies of, all documents, records and other
information which (i) was relied upon by the Committee in making its initial claim decision,
(ii) was submitted, considered or generated in the course of the Committee making its
initial claim decision, without regard to whether such instrument was actually relied upon
by the Committee in making its decision or (iii) demonstrates compliance by the Committee
with its administrative processes and safeguards designed to ensure and to verify that
benefit claim determinations are made in accordance with governing Plan documents and that,
where appropriate, the Plan provisions have been applied consistently with respect to
similarly situated claimants. If the Claimant does not request a review of the Committee’s
determination within such 60-day period, he or she shall be barred and estopped from
challenging such determination.

	 	9.4.	 	Review of Decision.

              Within a reasonable period of time, ordinarily not later than 60 days, after the
Secretary’s receipt of a request for review, it will review the Committee’s prior
determination. If special circumstances require that the 60-day time period be extended,
the Secretary will so notify the Claimant within the initial 60-day period indicating the
special circumstances requiring an extension and the date by which the Secretary expects to
render its decision on review, which shall be as soon as possible but not later than 120
days after receipt of the request for review. In the event that the Secretary extends the
determination period on review due to a Claimant’s failure to submit information necessary
to decide a claim, the period for making the benefit determination on review shall not take
into account the period beginning on the date on which notification of extension is sent to
the Claimant and ending on the date on which the Claimant responds to the request for
additional information.

14

 

              Benefits under the Plan will be paid only if the Secretary decides in its discretion
that the Claimant is entitled to such benefits. The decision of the Secretary shall be
final and non-reviewable, unless found to be arbitrary and capricious by a court of
competent review. Such decision will be binding upon all parties, including but not limited
to, the Company and the Claimant.

              If the Secretary makes an adverse benefit determination on review, the Secretary will
provide written or electronic notice of the Secretary’s determination, using language
calculated to be understood by the Claimant, setting forth:

              (a)    the specific reason or reasons for the denial;

              (b)    the specific references to pertinent Plan provisions on which the denial is based;

              (c)    a statement that the Claimant is entitled to receive, upon request and free of
charge, reasonable access to, and copies of, all documents, records and other information
which (i) was relied upon by the Secretary in making its decision, (ii) was submitted,
considered or generated in the course of the Secretary making its decision, without regard
to whether such instrument was actually relied upon by the Secretary in making its decision
or (iii) demonstrates compliance by the Secretary with its administrative processes and
safeguards designed to ensure and to verify that benefit claim determinations are made in
accordance with governing Plan documents, and that, where appropriate, the Plan provisions
have been applied consistently with respect to similarly situated claimants; and

              (d)    a statement of the Claimant’s right to bring a civil action under Section 502(a) of
ERISA following the adverse benefit determination on such review.

	 	9.5.	 	Discretionary Authority.

              The Committee and Secretary shall both have discretionary authority to determine a
Claimant’s entitlement to benefits upon his claim or his request for review of a denied
claim, respectively.

	10.	 	MISCELLANEOUS

	 	10.1.	 	Plan Not a Contract of Employment.

              The adoption and maintenance of the Plan shall not be or be deemed to be a contract
between the Company and any person or to be consideration for the employment of any person.
Nothing herein contained shall give or be deemed to give any person the right to be retained
in the employ of the Company or to restrict the right of the Company to discharge any person
at any time; nor shall the Plan give or be deemed to give the Company the right to require
any person to remain in the employ of the Company or to restrict any person’s right to
terminate his employment at any time.

	 	10.2.	 	Non-Assignability of Benefits.

15

 

              No Participant, Beneficiary or distributee of benefits under the Plan shall have any
power or right to transfer, assign, anticipate, hypothecate or otherwise encumber any part
or all of the amounts payable hereunder, which are expressly declared to be unassignable and
non-transferable. Any such attempted assignment or transfer shall be void. No amount
payable hereunder shall, prior to actual payment thereof, be subject to seizure by any
creditor of any such Participant, Beneficiary or other distributee for the payment of any
debt, judgment, or other obligation, by a proceeding at law or in equity, nor transferable
by operation of law in the event of the bankruptcy, insolvency or death of such Participant,
Beneficiary or other distributee hereunder.

	 	10.3.	 	Amendment and Termination.

              The Board may from time to time, in its discretion, amend, in whole or in part, any or
all of the provisions of the Plan; provided, however, that no amendment may be made which
would impair the rights of a Participant with respect to amounts already allocated to his
Account. The Board may terminate the Plan at any time. In the event that the Plan is
terminated, the balance in a Participant’s Account shall be paid to such Participant or his
Beneficiary in a lump sum or in equal monthly installments as the Committee determines.

	 	10.4.	 	Unsecured General Creditor Status of Employee.

              The payments to Participant, his Beneficiary or any other distributee hereunder shall
be made from assets which shall continue, for all purposes, to be a part of the general,
unrestricted assets of the Company; no person shall have nor acquire any interest in any
such assets by virtue of the provisions of this Plan. The Company’s obligation hereunder
shall be an unfunded and unsecured promise to pay money in the future. To the extent that
the Participant, a Beneficiary, or other distributee acquires a right to receive payments
from the Company under the provisions hereof, such right shall be no greater than the right
of any unsecured general creditor of the Company; no such person shall have nor require any
legal or equitable right, interest or claim in or to any property or assets of the Company.
In the event that, in its discretion, the Company purchases an insurance policy or policies
insuring the life of the Participant (or any other property) to allow the Company to recover
the cost of providing the benefits, in whole, or in part, hereunder, neither the
Participant, his Beneficiary or other distributee shall have or acquire any rights
whatsoever therein or in the proceeds therefrom. The Company shall be the sole owner and
beneficiary of any such policy or policies and, as such, shall possess and may exercise all
incidents of ownership therein. No such policy, policies or other property shall be held in
any trust for a Participant, Beneficiary or other distributee or held as collateral security
for any obligation of the Company hereunder.

	 	10.5.	 	Severability.

              If any provision of this Plan shall be held illegal or invalid for any reason, said
illegality or invalidity shall not affect the remaining provisions hereof; instead, each
provision shall be fully severable and the Plan shall be construed and enforced as if said
illegal or invalid provision had never been included herein.

16

 

	 	10.6.	 	Governing Laws.

              All provisions of the Plan shall be construed in accordance with the laws of Illinois
except to the extent preempted by federal law.

	 	10.7.	 	Binding Effect.

              This Plan shall be binding on each Participant and his heirs and legal representatives
and on the Company and its successors and assigns.

	 	10.8.	 	Entire Agreement.

              This document and any amendments contain all the terms and provisions of the Plan and
shall constitute the entire Plan, any other alleged terms or provisions being of no effect.

	 	10.9.	 	No Guarantee of Tax Consequences.

              While the Company has established and will maintain the Plan, the Company makes no
representation, warranty, commitment, or guaranty concerning the income, employment, or
other tax consequences of participation in the Plan under federal, state, or local law.

	 	10.10.	 	Sole Obligor.

              Each Company shall be the sole obligor with respect to Plan benefits that are owed to a
Participant which arise by virtue of contributions made by such Company or the Participant’s
employment by such Company.

IN WITNESS WHEREOF, the Company has caused this Plan, as amended and restated herein, to be
executed on 
the ___day of ______, _____.

	 	 	 	 	 
	 	CDW COMPUTER CENTERS, INC. 

 	 
	 	By:  	 	 
	 
	 	Title:  	 	 
	 	 	 	 
	 

17exv4w1w1xay

 

Exhibit 4-1-1(A)

This instrument was prepared by,

and when recorded should be

returned to:

Richard W. Astle

Sidley Austin Brown & Wood

Bank One Plaza

10 South Dearborn Street

Chicago, Illinois 60603

 

Supplemental Indenture

Dated as of April 23, 2003

Commonwealth Edison Company

to

BNY Midwest Trust Company

and

D.G. Donovan

Trustees Under Mortgage Dated July 1, 1923,

and Certain

Indentures Supplemental Thereto

Providing for Issuance of

FIRST MORTGAGE BONDS, POLLUTION CONTROL SERIES 2003

Due May 15, 2017

 

 

 

          This Supplemental Indenture, dated as of April 23, 2003, between Commonwealth
Edison Company, a corporation organized and existing under the laws of the State of Illinois
(hereinafter called the “Company”) having an address at 10 South Dearborn Street, 37th
floor, Chicago, Illinois 60603, party of the first part, BNY Midwest Trust Company, a
trust company organized and existing under the laws of the State of Illinois having an address at 2
North LaSalle Street, Suite 1020, Chicago, Illinois 60602, and D.G. Donovan, an individual
having an address at 2 North LaSalle Street, Suite 1020, Chicago, Illinois 60602, as Trustee and
Co-Trustee, respectively, under the Mortgage of the Company dated July 1, 1923, as amended and
supplemented by Supplemental Indenture dated August 1, 1944 and the subsequent supplemental
indentures hereinafter mentioned, parties of the second part (said Trustee being hereinafter called
the “Trustee”, the Trustee and said Co-Trustee being hereinafter together called the “Trustees”,
and said Mortgage dated July 1, 1923, as amended and supplemented by said Supplemental Indenture
dated August 1, 1944 and subsequent supplemental indentures, being hereinafter called the
"Mortgage”),

WITNESSETH:

          WHEREAS, the Company duly executed and delivered the Mortgage to provide for the issue of, and
to secure, its bonds, issuable in series and without limit as to principal amount except as
provided in the Mortgage; and

          WHEREAS, the Company from time to time has executed and delivered supplemental indentures to
the Mortgage to provide for (i) the creation of additional series of bonds secured by the Mortgage,
(ii) the amendment of certain of the terms and provisions of the Mortgage and (iii) the
confirmation of the lien of the Mortgage upon property of the Company, such supplemental indentures
that are currently effective and the respective dates, parties thereto and purposes thereof, being
as follows:

	 	 	 	 	 
	Supplemental	 	 	 	 
	Indenture Date	 	Parties	 	Providing For
	August 1, 1944

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Edmond B.
Stofft, as Trustee
and Co-Trustee
	 	Amendment and restatement of
Mortgage dated July 1, 1923
	 
	 	 	 	 
	August 1, 1946

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Edmond B.
Stofft, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	April 1, 1953

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Edmond B.
Stofft, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	March 31, 1967

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Edward J.
Friedrich, as
Trustee and
Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	April 1, 1967

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Edward J.
Friedrich, as
Trustee and
Co-Trustee
	 	Amendment of Sections 3.01,
3.02, 3.05 and 3.14 of the
Mortgage and issuance of
First Mortgage 5-3/8% Bonds,
Series Y

2

 

	 	 	 	 	 
	Supplemental	 	 	 	 
	Indenture Date	 	Parties	 	Providing For
	February 28, 1969

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	May 29, 1970

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	June 1, 1971

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	April 1, 1972

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	May 31, 1972

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	June 15, 1973

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	May 31, 1974

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	June 13, 1975

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	May 28, 1976

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	June 3, 1977

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	May 17, 1978

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	August 31, 1978

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	June 18, 1979

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	June 20, 1980

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	April 16, 1981

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien

3

 

	 	 	 	 	 
	Supplemental	 	 	 	 
	Indenture Date	 	Parties	 	Providing For
	April 30, 1982

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	April 15, 1983

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	April 13, 1984

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	April 15, 1985

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and Donald W.
Alfvin, as Trustee
and Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	April 15, 1986

	 	Company to
Continental
Illinois National
Bank and Trust
Company of Chicago
and M.J. Kruger, as
Trustee and
Co-Trustee
	 	Confirmation of mortgage lien
	 
	 	 	 	 
	June 15, 1990

	 	Company to
Continental Bank,
National
Association and
M.J. Kruger, as
Trustee and
Co-Trustee
	 	Issuance of First Mortgage
9-7/8% Bonds, Series 75
	 
	 	 	 	 
	October 1, 1991

	 	Company to
Continental Bank,
National
Association and
M.J. Kruger, as
Trustee and
Co-Trustee
	 	Issuance of First Mortgage
8-1/4% Bonds, Series 76 and
First Mortgage 8-7/8% Bonds,
Series 77
	 
	 	 	 	 
	October 15, 1991

	 	Company to
Continental Bank,
National
Association and
M.J. Kruger, as
Trustee and
Co-Trustee
	 	Issuance of First Mortgage
8-3/8% Bonds, Series 78 and
First Mortgage 9-1/8% Bonds,
Series 79
	 
	 	 	 	 
	May 15, 1992

	 	Company to
Continental Bank,
National
Association and
M.J. Kruger, as
Trustee and
Co-Trustee
	 	Issuance of First Mortgage
6-1/8% Bonds, Series 82 and
First Mortgage 8% Bonds,
Series 83
	 
	 	 	 	 
	September 15, 1992

	 	Company to
Continental Bank,
National
Association and
M.J. Kruger, as
Trustee and
Co-Trustee
	 	Issuance of First Mortgage
7-3/8% Bonds, Series 85 and
First Mortgage 8-3/8% Bonds,
Series 86
	 
	 	 	 	 
	April 15, 1993

	 	Company to
Continental Bank,
National
Association and
M.J. Kruger, as
Trustee and
Co-Trustee
	 	Issuance of First Mortgage
7-5/8% Bonds, Series 92
	 
	 	 	 	 
	June 15, 1993

	 	Company to
Continental Bank,
National
Association and
M.J. Kruger, as
Trustee and
Co-Trustee
	 	Issuance of First Mortgage
7% Bonds, Series 93 and
First Mortgage 7-1/2% Bonds,
Series 94
	 
	 	 	 	 
	July 15, 1993

	 	Company to
Continental Bank,
National
Association and
M.J. Kruger, as
Trustee and
Co-Trustee
	 	Issuance of First Mortgage
6-5/8% Bonds, Series 96 and
First Mortgage 7-3/4% Bonds,
Series 97

4

 

	 	 	 	 	 
	Supplemental	 	 	 	 
	Indenture Date	 	Parties	 	Providing For
	January 15, 1994

	 	Company to
Continental Bank,
National
Association and
M.J. Kruger, as
Trustee and
Co-Trustee
	 	Issuance of First Mortgage
Bonds, Pollution Control
Series 1994A, 1994B and
1994C
	 
	 	 	 	 
	December 1, 1994

	 	Company to Bank of
America Illinois
and Robert J.
Donahue, as Trustee
and Co-Trustee
	 	Issuance of First Mortgage
Bonds, Pollution Control
Series 1994D
	 
	 	 	 	 
	June 1, 1996

	 	Company to Harris
Trust and Savings
Bank and D.G.
Donovan, as Trustee
and Co-Trustee
	 	Issuance of First Mortgage
Bonds, Pollution Control
Series 1996A and 1996B
	 
	 	 	 	 
	March 1, 2002

	 	Company to BNY
Midwest Trust
Company and D.G.
Donovan, as Trustee
and Co-Trustee
	 	Issuance of unregistered
First Mortgage 6.15% Bonds,
Series 98
	 
	 	 	 	 
	May 20, 2002

	 	Company to BNY
Midwest Trust
Company and D.G.
Donovan, as Trustee
and Co-Trustee
	 	Issuance of First Mortgage
Bonds, Pollution Control
Series 2002
	 
	 	 	 	 
	June 1, 2002

	 	Company to BNY
Midwest Trust
Company and D.G.
Donovan, as Trustee
and Co-Trustee
	 	Issuance of additional
unregistered First Mortgage
6.15% Bonds, Series 98
	 
	 	 	 	 
	October 7, 2002

	 	Company to BNY
Midwest Trust
Company and D.G.
Donovan, as Trustee
and Co-Trustee
	 	Issuance of registered First
Mortgage 6.15% Bonds, Series
98 in exchange for
unregistered First Mortgage
6.15% Bonds, Series 98
	 
	 	 	 	 
	January 13, 2003

	 	Company to BNY
Midwest Trust
Company and D.G.
Donovan, as Trustee
and Co-Trustee
	 	Issuance of First Mortgage
3.700% Bonds, Series 99 and
First Mortgage 5.875% Bonds,
Series 100
	 
	 	 	 	 
	March 14, 2003

	 	Company to BNY
Midwest Trust
Company and D.G.
Donovan, as Trustee
and Co-Trustee
	 	Issuance of First Mortgage
4.70% Bonds, Series 101

          WHEREAS, the respective designations, maturity dates and principal amounts of the bonds
of each series presently outstanding under, and secured by, the Mortgage and the several
supplemental indentures above referred to, are as follows:

	 	 	 	 	 	 	 
	Designation	 	Maturity Date	 	Principal Amount	 
	First Mortgage 9-7/8% Bonds, Series 75
	 	June 15, 2020	 	$	54,171,000	 
	First Mortgage 8-1/4% Bonds, Series 76
	 	October 1, 2006	 	 	100,000,000	 
	First Mortgage 8-3/8% Bonds, Series 78
	 	October 15, 2006	 	 	125,000,000	 
	First Mortgage 8% Bonds, Series 83
	 	May 15, 2008	 	 	140,000,000	 
	First Mortgage 7-5/8% Bonds, Series 92
	 	April 15, 2013	 	 	218,500,000	 
	First Mortgage 7% Bonds, Series 93
	 	July 1, 2005	 	 	225,000,000	 
	First Mortgage 7-1/2% Bonds, Series 94
	 	July 1, 2013	 	 	147,000,000	 
	First Mortgage 6-5/8% Bonds, Series 96
	 	July 15, 2003	 	 	100,000,000	 
	First Mortgage 7-3/4% Bonds, Series 97
	 	July 15, 2023	 	 	150,000,000	 

5

 

	 	 	 	 	 	 	 
	Designation	 	Maturity Date	 	Principal Amount	 
	First Mortgage 5.3% Bonds, Pollution
Control Series 1994A
	 	January 15, 2004	 	 	26,000,000	 
	First Mortgage 5.7% Bonds, Pollution
Control Series 1994B
	 	January 15, 2009	 	 	20,000,000	 
	First Mortgage 5.85% Bonds, Pollution
Control Series 1994C
	 	January 15, 2014	 	 	20,000,000	 
	First Mortgage 6.75% Bonds, Pollution
Control Series 1994D
	 	March 1, 2015	 	 	91,000,000	 
	First Mortgage 4.4% Bonds, Pollution
Control Series 1996A
	 	December 1, 2006	 	 	110,000,000	 
	First Mortgage 4.4% Bonds, Pollution
Control Series 1996B
	 	December 1, 2006	 	 	89,400,000	 
	First Mortgage 6.15% Bonds, Series 98
	 	March 15, 2012	 	 	600,000,000	 
	First Mortgage Bonds, Pollution
Control Series 2002
	 	April 15, 2013	 	 	100,000,000	 
	First Mortgage 3.700% Bonds, Series 99
	 	February 1, 2008	 	 	350,000,000	 
	First Mortgage 5.875% Bonds, Series 100
	 	February 1, 2033	 	 	350,000,000	 
	First Mortgage 4.70% Bonds, Series 101
	 	April 15, 2015	 	 	395,000,000	 
	 
	 	 	 	 	 
	 
	 	Total	 	$	3,411,071,000	 
	 
	 	 	 	 	 

          WHEREAS, the Mortgage provides for the issuance from time to time thereunder, in series,
of bonds of the Company for the purposes and subject to the limitations therein specified; and

          WHEREAS, the Company desires, by this Supplemental Indenture, to create an additional series
of bonds to be issuable under the Mortgage, such bonds to be designated “First Mortgage Bonds,
Pollution Control Series 2003” (hereinafter called the “bonds of Series 2003”) and the terms and
provisions to be contained in the bonds of Series 2003 or to be otherwise applicable thereto to be
as set forth in this Supplemental Indenture; and

          WHEREAS, the bonds of Series 2003 and the Trustee’s certificate to be endorsed thereon shall
be substantially in the forms included in Exhibit A hereto; and

          WHEREAS, the Company is legally empowered and has been duly authorized by the necessary
corporate action and by order of the Illinois Commerce Commission to make, execute and deliver this
Supplemental Indenture, and to create, as an additional series of bonds of the Company, the bonds
of Series 2003, and all acts and things whatsoever necessary to make this Supplemental Indenture,
when executed and delivered by the Company and the Trustees, a valid, binding and legal instrument,
and to make the bonds of Series 2003, when authenticated by the Trustee and issued as provided in
the Mortgage and in this Supplemental Indenture, the valid, binding and legal obligations of the
Company, entitled in all respects to the security of the Mortgage, as amended and supplemented,
have been done and performed;

6

 

          NOW, THEREFORE, in consideration of the premises and of the sum of one dollar duly paid by the
Trustees to the Company, and for other good and valuable consideration, the receipt of which is
hereby acknowledged, the parties hereto do hereby agree as follows:

ARTICLE I

DEFINITIONS AND RULES OF CONSTRUCTION

          SECTION 1.01. Terms of the Mortgage. The terms used in this Supplemental Indenture which are
defined in the Mortgage, unless otherwise specified herein, are used herein with the same meanings
as in the Mortgage.

          SECTION 1.02. Definitions of New Terms. The following terms shall have the following
meanings in this Supplemental Indenture:

     “IDFA” shall mean the Illinois Development Finance Authority, a political
subdivision and body politic and corporate duly organized and validly existing under
and by virtue of the laws of the State of Illinois.

     “IDFA Bonds” shall mean those certain Pollution Control Revenue Refunding Bonds
(Commonwealth Edison Company Project) Series 2003 issued in the original aggregate
principal amount of $40,000,000 under and pursuant to the terms of the IDFA
Indenture.

     “IDFA Indenture” shall mean that certain Indenture of Trust dated as of May 1,
2003, between IDFA, as issuer, and Bank One, National Association, as trustee.

          SECTION 1.03. Rules of Construction. All references to any agreement refer to such agreement
as modified, varied, or amended from time to time by the parties thereto (including any permitted
successors or assigns) in accordance with its terms.

ARTICLE II

          SECTION 2.01. Designation and Issuance of Bonds. (a) The bonds of Series 2003 shall, as
hereinbefore recited, be designated as the Company’s “First Mortgage Bonds, Pollution Control
Series 2003.”

          (b) Subject to the provisions of the Mortgage, the bonds of Series 2003 shall be issuable
without limitation as to the aggregate principal amount thereof.

          SECTION 2.02. Form, Date, Maturity Date, Interest Rate and Interest Payment Dates of Bonds.
(a) The definitive bonds of Series 2003 shall be in engraved, lithographed, printed or
type-written form and shall be registered bonds without coupons, and such bonds and the Trustee’s
certificate to be endorsed thereon shall be substantially in the forms included in Exhibit A
hereto. The bonds of Series 2003 shall be dated as provided in Section 3.01 of the Mortgage, as
amended by Supplemental Indenture dated April 1, 1967. All bonds of Series 2003 shall mature on
May 15, 2017.

7

 

          (b) The bonds of Series 2003 shall bear interest on each day that they are outstanding at a
rate per annum which is equal to the weighted-average interest rate borne on the IDFA Bonds
outstanding on such date; provided, however, such interest rate on the bonds of Series 2003 shall
not exceed 12% per annum. The bonds of Series 2003 shall bear interest until the principal thereof
shall be paid in full. Interest on the bonds of Series 2003 shall be payable to the record holder
thereof on the dates that interest is payable on the IDFA Bonds.

          (c) The interest on the bonds of Series 2003 so payable on any interest payment date shall,
subject to the exceptions provided in Section 3.01 of the Mortgage, as amended by said Supplemental
Indenture dated April 1, 1967, be paid to the person in whose name such bond is registered on such
interest payment date.

          SECTION 2.03. Bonds Issued as Collateral Security. The bonds of Series 2003 shall be issued,
delivered, and pledged to, and registered in the name of, the trustee under the IDFA Indenture in
order to secure and provide for, and as collateral security for, the due and punctual payment of
the principal, premium, if any, and interest due from time to time on the IDFA Bonds.

          SECTION 2.04. Credit for Payments on IDFA Bonds. (a) The Company shall receive a credit
against its obligation to make any payment of interest on the bonds of Series 2003, whether on an
interest payment date, at maturity, upon redemption, upon acceleration or otherwise, in an amount
equal to the amount, if any, paid by or for the account of the Company in respect of any
corresponding payment of interest on the IDFA Bonds. So long as all the bonds of Series 2003 are
pledged as described in Section 2.03, the obligation of the Company to make any payment with
respect to the principal of the bonds of Series 2003 shall be credited in full if, at the time that
any such payment of principal shall be due, there shall have been paid by or for the account of the
Company the then due principal of all IDFA Bonds which are outstanding.

          (b) The Trustee may conclusively presume that the obligation of the Company to pay the
principal of, and premium, if any, and interest on, the bonds of Series 2003 as the same shall
become due and payable has been credited in accordance with this Section 2.04 unless and until it
shall have received a written notice (including a telex, telegram, telecopy or other form of
written telecommunication) from the trustee under the IDFA Indenture stating that payment of the
principal of, or premium, if any, or interest on, the IDFA Bonds has become due and payable and has
not been fully paid and specifying the amount of funds required to make such payment.

          SECTION 2.05. Execution of Bonds. The bonds of Series 2003 shall be executed on behalf of
the Company by its President or one of its Vice Presidents, manually or by facsimile signature, and
shall have its corporate seal affixed thereto or a facsimile of such seal imprinted thereon,
attested by its Secretary or one of its Assistant Secretaries, manually or by facsimile signature,
all as may be provided by resolution of the Board of Directors of the Company. In case any officer
or officers whose signature or signatures, manual or facsimile, shall appear upon any bond of
Series 2003 shall cease to be such officer or officers before such bond shall have been actually
authenticated and delivered, such bond nevertheless may be issued, authenticated and delivered with
the same force and effect as though the person or persons whose signature or

8

 

signatures, manual or facsimile, appear thereon had not ceased to be such officer or officers
of the Company.

          SECTION 2.06. Medium and Places of Payment of Principal of, and Premium, If Any, and Interest
on, Bonds; Transferability and Exchangeability. The principal of, and premium, if any, and the
interest on the bonds of Series 2003 shall be payable in any coin or currency of the United States
of America which at the time of payment is legal tender for the payment of public and private
debts, and such principal, premium, if any, and interest shall be payable at the office or agency
of the Company in the City of Chicago, State of Illinois, and such bonds shall be transferable and
exchangeable, in the manner provided in Sections 3.09 and 3.10 of the Mortgage, at said office or
agency. No charge shall be made by the Company to the registered owner of any bond of Series 2003
for the registration of transfer of such bond or for the exchange thereof for bonds of the same
series of other authorized denominations, except, in the case of any transfer, a charge sufficient
to reimburse the Company for any stamp or other tax or governmental charge required to be paid by
the Company or the Trustee.

          SECTION 2.07. Denominations and Numbering of Bonds. The bonds of Series 2003 shall be issued
in the denomination of $1,000 and in such multiples of $1,000 as shall from time to time hereafter
be determined and authorized by the Board of Directors of the Company or by any officer or officers
of the Company authorized to make such determination, the authorization of the denomination of any
bond of Series 2003 to be conclusively evidenced by the execution thereof on behalf of the Company.
Bonds of Series 2003 shall each be numbered R-1 and consecutively upwards.

          SECTION 2.08. Temporary Bonds. Until definitive bonds of Series 2003 are ready for delivery,
there may be authenticated and issued in lieu of any thereof and subject to all of the provisions,
limitations, and conditions set forth in Section 3.11 of the Mortgage, temporary registered bonds
of Series 2003 without coupons.

          SECTION 2.09. Optional Redemption of Bonds. Upon the notice and in the manner provided in
the paragraph under the heading “Optional Redemption” of the IDFA Bonds, the bonds of
Series 2003 may be redeemed, at the option of the Company, on and after the date determined
thereunder, in whole at any time or in part from time to time, at the redemption prices (expressed
as percentages of the principal amount of each bond of Series 2003 or portion thereof to be
redeemed) set forth therein, plus accrued interest to the redemption date.

          SECTION 2.10. Mandatory Redemption. Upon the notice and in the manner provided in the
paragraphs under the heading “Mandatory Redemption” of the IDFA Bonds, the bonds of Series
2003 shall be redeemed by the Company in whole, or as provided under such paragraphs in part, at
100% of the principal amount thereof plus accrued interest to the redemption date.

          SECTION 2.11. Default Mandatory Redemption. The bonds of Series 2003 shall be redeemed
promptly, without notice, by the Company in whole at 100% of the principal amount thereof plus
accrued interest to the date of redemption following receipt by the Trustee of written notice from
the trustee under the IDFA Indenture stating that the principal of the IDFA

9

 

Bonds has been declared to be immediately due and payable as a result of an event of default
under the IDFA Indenture.

ARTICLE III

CONFIRMATION OF LIEN

          The Company, for the equal and proportionate benefit and security of the holders of all bonds
at any time issued under the Mortgage, hereby confirms the lien of the Mortgage upon, and hereby
grants, bargains, sells, transfers, assigns, pledges, mortgages, warrants and conveys unto the
Trustees, all property of the Company and all property hereafter acquired by the Company, other
than (in each case) property which, by virtue of any of the provisions of the Mortgage, is excluded
from such lien, and hereby confirms the title of the Trustees (as set forth in the Mortgage) in and
to all such property. Without in any way limiting or restricting the generality of the foregoing,
there is specifically included within the confirmation of lien and title hereinabove expressed the
property of the Company legally described on Exhibit A attached hereto and made a part
hereof.

ARTICLE IV

MISCELLANEOUS

          The terms and conditions of this Supplemental Indenture shall be deemed to be a part of the
terms and conditions of the Mortgage for any and all purposes. The Mortgage, as supplemented by
the indentures supplemental thereto dated subsequent to August 1, 1944 and referred to in the first
paragraph of this Supplemental Indenture, and as further supplemented by this Supplemental
Indenture, is in all respects hereby ratified and confirmed.

          This Supplemental Indenture shall bind and, subject to the provisions of Article XIV of the
Mortgage, inure to the benefit of the respective successors and assigns of the parties hereto.

          Although this Supplemental Indenture is dated as of April 23, 2003, it shall be effective only
from and after the actual time of its execution and delivery by the Company and the Trustee on the
date indicated by their respective acknowledgments hereto annexed.

          This Supplemental Indenture may be simultaneously executed in any number of counterparts, and
all such counterparts executed and delivered, each as an original, shall constitute but one and the
same instrument.

10

 

          IN WITNESS WHEREOF, Commonwealth Edison Company has caused this Supplemental Indenture to be
executed in its name by its Vice President and Treasurer, and attested by one of its Assistant
Secretaries, and BNY Midwest Trust Company, as Trustee under the Mortgage, has caused this
Supplemental Indenture to be executed in its name by one of its Vice Presidents, and attested by
one of its Assistant Secretaries, and D.G. Donovan, as Co-Trustee under the Mortgage, has hereunto
affixed his signature, all as of the day and year first above written.

	 	 	 	 	 
	 	COMMONWEALTH EDISON COMPANY

 	 
	 	By:  	
 	 
	 	 	J. Barry Mitchell 	 
	 	 	Vice President and Treasurer 	 
	 

ATTEST:

Scott N. Peters

Assistant Secretary

	 	 	 	 	 
	 	BNY MIDWEST TRUST COMPANY

 	 
	 	By:  	
 	 
	 	 	J. Bartolini 	 
	 	 	Vice President 	 
	 

ATTEST:

C. Potter

Assistant Secretary

D.G. Donovan

11

 

	 	 	 	 	 
	STATE OF ILLINOIS
	 	 	)	 
	 
	 	 	)	 
	COUNTY OF COOK
	 	 	)	 

          I, DENISE M. KERSCHHACKL, a Notary Public in and for said County, in the State aforesaid, DO
HEREBY CERTIFY that J. BARRY MITCHELL, Vice President and Treasurer of Commonwealth Edison Company,
an Illinois corporation, one of the parties described in and which executed the foregoing
instrument, and SCOTT N. PETERS, an Assistant Secretary of said corporation, who are both
personally known to me to be the same persons whose names are subscribed to the foregoing
instrument as such Vice President and Treasurer and Assistant Secretary, respectively, and who are
both personally known to me to be Vice President and Treasurer and Assistant Secretary,
respectively, of said corporation, appeared before me this day in person and severally acknowledged
that they signed, executed and delivered said instrument as their free and voluntary act as such
Vice President and Treasurer and Assistant Secretary, respectively, of said corporation, and as the
free and voluntary act of said corporation, for the uses and purposes therein set forth.

          GIVEN under my hand and notarial seal this 23rd day of April, A.D. 2003.

Denise M. Kerschhackl

Notary Public

{SEAL}

My Commission expires February 15, 2005.

12

 

	 	 	 	 	 
	STATE OF ILLINOIS
	 	 	)	 
	 
	 	 	)	 
	COUNTY OF COOK
	 	 	)	 

          I, A. HERNANDEZ, a Notary Public in and for said County, in the State aforesaid, DO HEREBY
CERTIFY that J. BARTOLINI, Vice President of BNY Midwest Trust Company, an Illinois trust company,
one of the parties described in and which executed the foregoing instrument, and C. POTTER,
Assistant Secretary of said trust company, who are both personally known to me to be the same
persons whose names are subscribed to the foregoing instrument as such Vice President and Assistant
Secretary, respectively, and who are both personally known to me to be a Vice President and an
Assistant Secretary, respectively, of said trust company, appeared before me this day in person and
severally acknowledged that they signed, executed and delivered said instrument as their free and
voluntary act as such Vice President and Assistant Secretary, respectively, of said trust company,
and as the free and voluntary act of said trust company, for the uses and purposes therein set
forth.

          GIVEN under my hand and notarial seal this 23rd day of April, A.D. 2003.

A. Hernandez

Notary Public

{SEAL}

My Commission expires July 8, 2006.

13

 

	 	 	 	 	 
	STATE OF ILLINOIS
	 	 	)	 
	 
	 	 	)	 
	COUNTY OF COOK
	 	 	)	 

          I, A. HERNANDEZ, a Notary Public in and for said County, in the State aforesaid, DO HEREBY
CERTIFY that D.G. DONOVAN, one of the parties described in and which executed the foregoing
instrument, who is personally known to me to be the same person whose name is subscribed to the
foregoing instrument, appeared before me this day in person and acknowledged that he signed,
executed and delivered said instrument as his free and voluntary act for the uses and purposes
therein set forth.

          GIVEN under my hand and notarial seal this 23rd day of April, A.D. 2003.

A. Hernandez

Notary Public

{SEAL}

My Commission expires July 8, 2006.

14

 

EXHIBIT A

to

Supplemental Indenture

COMMONWEALTH EDISON COMPANY

First Mortgage Bond, Pollution Control Series 2003

Due May 15, 2017

          COMMONWEALTH EDISON COMPANY, an Illinois corporation (hereinafter called the “Company”), for
value received, hereby promises to pay to                                         , as trustee under that certain
Indenture of Trust dated as of May 1, 2003 between Illinois Development Finance Authority (“IDFA”)
and said trustee, or registered assigns, on the fifteenth day of May, 2017, the sum of                     
Dollars, and to pay interest on said sum from the date hereof until said sum shall be paid, at a
rate per annum on each day which is equal to the weighted-average interest rate borne on the IDFA
Bonds (as hereinafter defined) outstanding on such date, until the principal thereof shall be paid
in full, subject to Section 2.04 of the Supplemental Indenture dated as of April 23, 2003 (the
“Supplemental Indenture”), executed and delivered by the Company to the Trustees (as hereinafter
defined), which provides for certain credits towards payment of principal of and interest on the
bonds of this Series. Interest shall accrue on the bonds of this Series from the date of issuance
hereof, and the payment thereof shall be credited as provided in Section 2.04(a) of the
Supplemental Indenture unless and until the Trustee receives the notice contemplated by Section
2.04(b) of the Supplemental Indenture, whereupon the interest on the bonds of this Series shall
become and remain due and payable until such time as the Trustee receives a further written notice
(including a telex, telegram, telecopy or other form of written telecommunication) from the trustee
under the IDFA Indenture (as hereinafter defined) stating that such payments need not continue.
When interest is due and payable as described above, interest on the bonds of this Series shall be
payable at the same time as interest on the IDFA Bonds and upon maturity, redemption, or
acceleration of the bonds of this Series, subject to Section 2.04 of the Supplemental Indenture.
The interest on each bond of this Series so payable on any interest payment date shall, subject to
the exceptions provided in Section 3.01 of the Mortgage (as hereinafter defined), as amended by a
supplemental indenture dated April 1, 1967, be paid to the person in whose name such bond is
registered on the date of such payment. The principal of, and premium, if any, and the interest
on, this bond shall be payable at the office or agency of the Company in the City of Chicago, State
of Illinois in any coin or currency of the United States of America which at the time of payment is
legal tender for the payment of public and private debts.

          This bond is one of the bonds of the Company, issued and to be issued in series from time to
time under and in accordance with and, irrespective of the time of issue, equally and ratably
secured by the Mortgage dated July 1, 1923, and indentures supplemental thereto, under which BNY
Midwest Trust Company and D.G. Donovan (collectively, the “Trustees”) are now the Trustees, and is
one of the First Mortgage Bonds, Pollution Control Series 2003 of the

15

 

Company, the issuance of which is provided for by the Supplemental Indenture, executed and
delivered by the Company to such Trustees, to which Mortgage and all indentures supplemental
thereto reference is hereby made for a description of the property mortgaged and pledged, the
nature and extent of the security, the rights of the holders and registered owners of said bonds,
of the Company and of the Trustees in respect of the security, and the terms and conditions
governing the issuance and security of said bonds. The term “Mortgage,” as hereinafter used, shall
mean said Mortgage dated July 1, 1923, and all indentures supplemental thereto.

          With the consent of the Company and to the extent permitted by and as provided in the
Mortgage, modifications or alterations of the Mortgage or of any indenture supplemental thereto and
of the rights and obligations of the Company and of the holders and registered owners of the bonds
may be made, and compliance with any provision of the Mortgage or any such supplemental indenture
may be waived, by the affirmative vote of the holders and registered owners of not less than eighty
per centum (80%) in principal amount of the bonds then outstanding under the Mortgage, and by the
affirmative vote of the holders and registered owners of not less than eighty per centum (80%) in
principal amount of the bonds of any series then outstanding under the Mortgage and affected by
such modification or alteration, in case one or more but less than all of the series of bonds then
outstanding under the Mortgage are so affected, but in any case excluding bonds disqualified from
voting by reason of the Company’s interest therein as provided in the Mortgage; subject, however,
to the condition, among other conditions stated in the Mortgage, that no such modification or
alteration shall be made which will permit the extension of the time or times of payment of the
principal of or the interest or the premium, if any, on this bond, or the reduction in the
principal amount hereof or in the rate of interest or the amount of any premium hereon, or any
other modification in the terms of payment of such principal, interest or premium, which terms of
payment are unconditional, or, otherwise than as permitted by the Mortgage, the creation of any
lien ranking prior to or on a parity with the lien of the Mortgage with respect to any of the
mortgaged property, all as more fully provided in the Mortgage.

          The bonds of this Series are subject to redemption, as provided in the Supplemental Indenture.

          In case of certain completed defaults specified in the Mortgage, the principal of this bond
may be declared or may become due and payable in the manner and with the effect provided in the
Mortgage.

          No recourse shall be had for the payment of the principal of or the interest on this bond, or
for any claim based hereon, or otherwise in respect hereof or of the Mortgage, to or against any
incorporator, stockholder, officer or director, past, present or future, of the Company or of any
successor corporation, either directly or through the Company or such successor corporation, under
any constitution or statute or rule of law, or by the enforcement of any assessment or penalty, or
otherwise, all such liability of incorporators, stockholders, directors and officers being waived
and released by the registered owner hereof by the acceptance of this bond and being likewise
waived and released by the terms of the Mortgage, all as more fully provided therein.

16

 

          This bond is transferable by the registered owner hereof, in person or by duly authorized
attorney, at the office or agency of the Company in the City of Chicago, State of Illinois, upon
surrender and cancellation of this bond; and thereupon a new registered bond or bonds without
coupons of the same aggregate principal amount and series will, upon the payment of charges as
provided in the Mortgage, be issued to the transferee in exchange herefor.

          Bonds of this Series are issuable only in registered form without coupons and in the
denominations of $1,000 each and any authorized multiple thereof. As provided in the Mortgage,
such bonds are exchangeable for registered bonds of the same series as between authorized
denominations. Any such exchange may be made by the registered owner of any such bond or bonds
upon presentation thereof for that purpose at the office or agency of the Company in the City of
Chicago, State of Illinois.

          This bond shall not be entitled to any security or benefit under the Mortgage or be valid or
become obligatory for any purpose unless and until it shall have been authenticated by the
execution by the corporate Trustee, or its successor in trust under the Mortgage, of the
certificate endorsed hereon.

17

 

          IN WITNESS WHEREOF, Commonwealth Edison Company has caused this bond to be executed in its
name by its President or one of its Vice-Presidents, and has caused its corporate seal to be hereto
affixed, attested by its Secretary or one of its Assistant Secretaries, as of the ___day of
                    , 20___.

	 	 	 	 	 	 	 
	 	 	COMMONWEALTH EDISON COMPANY	 	 
	 
	 	 	 	 	 	 
	[SEAL]
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

President
	 	 

ATTEST:

	 	 	 
	 

Secretary

	 	 

(General Form of Trustee’s Certificate)

          This bond is one of the bonds of the series designated herein, referred to and described in
the within mentioned Supplemental Indenture dated as of April 23, 2003.

	 	 	 	 	 	 	 
	 	 	BNY MIDWEST TRUST COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Authorized Officer
	 	 

Illinois Commerce Commission Identification No.                     

18

 

ABBREVIATIONS

          The following abbreviations, when used in the inscription on the face of this instrument,
shall be construed as though they were written out in full according to applicable laws or
regulations:

	 	 	 	 	 
	 

	 	TEN COM -
	 	as tenants in common
	 

	 	TEN ENT -
	 	as tenants by the entireties
	 

	 	JT TEN -
	 	as joint tenants with right of survivorship and not as tenants in common

	 	 	 	 	 	 	 	 	 
	 	 	UNIF GIFT MIN ACT -	 	                    
Custodian                     	 	 
	 

	 	 	 	(Cust)
	 	(Minors)	 	 
	 	 	 	 	under Uniform Gifts to Minors Act
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	                              
                              	 	 
	 	 	 	 	(State)
	 	 

     Additional abbreviations may also be used though not in the above list.

          FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s), and transfer(s) unto

	 	 	 	 	 	 	 
	 

	 	 

	 	 	 
	 

	 	 	 
	 	 	 
	PLEASE INSERT SOCIAL SECURITY OR

	 	 	 
	 	 	 
	OTHER IDENTIFYING NUMBER OF ASSIGNEE
	 	 	 	 	 	 
	 

	 	 

	 	 	 

 

(Please print or typewrite name and address including postal zip code of assignee)

the within Bond and all rights thereunder, hereby irrevocably constituting and appointing
                     attorney to transfer said Bond on the books of the Company, with full power of
substitution in the premises.

	 	 	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 
	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	NOTICE: The signature to this assignment must
correspond with the name as written upon the face of
the within instrument in every particular, without
alteration or enlargement or any change whatever.	 	 

19

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}]]