Document:

EX-10.(a)

 Exhibit 10(a) 

ONCOR ELECTRIC DELIVERY COMPANY LLC 

SIXTH AMENDED AND RESTATED 

EXECUTIVE ANNUAL INCENTIVE PLAN 

Plan Document 
 Effective as of
January 1, 2019 

 Contents 

 
 Sixth Amended and Restated Executive Annual Incentive
Plan 
  

							
	 Article I.
	  	Purpose	  	 	1	 
			
	 Article II.
	  	Definitions	  	 	1	 
			
	 Article III.
	  	Eligibility and Participation	  	 	3	 
			
	 Article IV.
	  	Establishment of Performance Goals	  	 	3	 
			
	 Article V.
	  	Establishment of Awards	  	 	3	 
			
	 Article VI.
	  	Determination of Individual Participant Awards and Application of Individual Performance Modifier	  	 	4	 
			
	 Article VII.
	  	Payment of Awards	  	 	4	 
			
	 Article VIII.
	  	Termination of Employment and Partial Awards	  	 	4	 
			
	 Article IX.
	  	Administrative Provisions	  	 	5	 

 ONCOR ELECTRIC DELIVERY COMPANY LLC 

SIXTH AMENDED AND RESTATED EXECUTIVE ANNUAL INCENTIVE PLAN 

Article I.    Purpose. 

The Oncor Electric Delivery Company LLC Sixth Amended and Restated Executive Annual Incentive Plan (the “Plan”) is effective as of
January 1, 2019. The Plan provides for annual bonus incentive award opportunities for eligible Participants payable in cash. The Plan amends and restates in its entirety the Fifth Amended and Restated Executive Annual Incentive Plan effective
as of January 1, 2018. 
 The principal purposes of the Plan are to attract, motivate and retain key employees; to align the interests
of Participants and the Company by rewarding performance that satisfies established performance goals; to motivate Participant behaviors that drive successful results at the Company and individual levels; and to support collaboration across
essential organizational interfaces. 
 Article II.    Definitions. 

When used in the Plan, the following terms shall have the meanings set forth below: 

(a)    “Additional Persons” means such other individuals who are not Executive Officers, under the Plan,
but who are senior officers and key employees identified by the O&C Committee, in consultation with the Company CEO. 

(b)    “Award” means the amount payable to a Participant under this Plan for any Plan Year, as determined
in accordance with the terms of the Plan. 
 (c)    “Base Salary” means the annualized base salary
designated for the Participant in the payroll records of the Company, prior to any deferrals, and excluding any overtime pay, bonuses, incentive compensation, expense reimbursements and fringe benefits of any kind for the applicable Plan Year.

 (d)    “Company” means Oncor Electric Delivery Company LLC, a Delaware limited liability company,
and its successors and assigns. 
 (e)    “Company CEO” means the Chief Executive of the Company. 

(f)    “Disability” or “Disabled” means disability as determined under the EFH Long-Term
Disability Income Plan, or any successor plan covering Participants. 
 (g)    “EBITDA” means Earnings
Before Interest, Taxes, Depreciation and Amortization, as defined by the O&C Committee. 
 (h)    
“Executive Officers” means the Company CEO and other Executive Officers, as defined under the charter of the O&C Committee. 

(i)    “Executive Team” means the group of Executive Officers of the Company referred to internally as
the Executive Team. 
 (j)    “Final Funding Percentage” means the percentage that is determined by the
O&C Committee for each Plan Year in accordance with Article V(C) of this Plan. 

  
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 (k)    “Funding Trigger Percentage” means a percentage
based on the amount or level of attainment of the Threshold EBITDA and Target EBITDA for a particular Plan Year. 

(l)    “Individual Performance Modifier” means a percentage based on individual Participant performance
established by the O&C Committee for Executive Officers and Additional Persons or the Executive Team for other Participants, in accordance with Article IV, and used in determining a Participant’s Award. The Individual Performance Modifier
may be based on factors which include, without limitation, Company financial or operational measures, individual management and other goals, personal job objectives and competencies, the demonstration of team building and support attributes, and
general demeanor and behavior. 
 (m)    “O&C Committee” means the Organization and Compensation
Committee of the Board of Directors of the Company. 
 (n)    Operational Metric(s)” means the operational
or other metrics that the O&C Committee elects to apply in determining the Final Funding Percentage for a particular Plan Year. 

(o)    “Operational Metric Funding Percentage” means a percentage established by the O&C Committee
based on the total amount or level of attainment of the threshold, target, superior and/or other performance level measurement of the Operational Metrics set by the O&C Committee for a particular Plan Year 

(p)    “Participant” means an individual (i) who is an elected officer of the Company having a title
of vice president or above, Assistant Secretary, Controller or Treasurer or who is designated as an Additional Person, and (ii) who is employed by the Company for a period of three full months during the Plan Year. 

(q)    “Plan” means this Sixth Amended and Restated Executive Annual Incentive Plan. 

(r)    “Plan Year” means the twelve (12) month period beginning each January 1 and ending
December 31. 
 (s)    “Retirement” means termination of employment with the Company upon attaining at
least age 55, completing at least 15 years of accredited service, or otherwise meeting the criteria for retiring under the EFH Retirement Plan, or a successor plan. 

(t)    “Target Award” means an Award amount for an individual Participant equal to a percentage of the
Participant’s Base Salary, which is anticipated based on target performance of the Company and individual Participant performance. The Target Award shall be used in calculating an individual’s actual Award for a Plan year. 

(u)    “Target EBITDA” means the target amount of EBITDA established by the O&C Committee for a
particular Plan Year, achievement of which results in a Funding Trigger Percentage of 100%. 
 (v)    “Target
Incentive Pool” means the amount equal to the aggregate of the Target Awards for all Participants, or a selected group of Participants, as the context may require. 

(w)    “Threshold EBITDA” means an amount of EBITDA established by the O&C Committee, achievement of
which is necessary to fund any awards under this Plan for a given Plan Year and results in a Funding Trigger Percentage of 50%. 

  
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 (x)    “Total Weighted Operational Metric Funding
Percentage” means a percentage calculated by adding together the weighted Operational Metric Funding Percentage for each Operational Metric in a given Plan Year. The weighted Operational Metric Funding Percentage for each Operational Metric
shall be determined by multiplying the Operational Metric Funding Percentage by the weighted percentage level assigned to such Operational Metric by the O&C Committee for a particular Plan Year. 

Article III.    Eligibility and Participation. 

All individuals who, as of the first day of a Plan Year, meet the definition of a Participant hereunder, shall be eligible to
participate in this Plan for such Plan Year. Awards, if any, for individuals who become Participants during the Plan Year or whose participation in this Plan is terminated during the Plan Year, shall be determined under, and in accordance with,
Article VIII hereof.    Participation in this Plan for any Plan Year shall not entitle an individual to future participation. 

Article IV.    Establishment of Performance Goals. 

For each Plan Year, the O&C Committee will establish: (i) the Threshold EBITDA, (ii) the Target EBITDA, (iii) the
Operational Metrics and the applicable threshold, target, superior and/or other performance level measurements for such Operational Metrics, (iv) the weighting of each Operational Metric to be used in calculating the Total Weighted Operational
Metric Funding Percentage, and (v) the Target Award for Executive Officers and Additional Persons. For each Plan Year, the Executive Team will determine the Target Award for each Participant, other than for Executive Officers and Additional
Persons. Such determinations by the O&C Committee and the Executive Team shall be made at such times and shall be based on such criteria as the O&C Committee and the Executive Team shall determine, respectively, in their sole discretion. The
O&C Committee and the Executive Team shall each have full authority and discretion, for any particular Plan Year, to modify at any time prior to the payout of the Award, if any, for such Plan Year any of their respective determinations
hereunder, with respect to all Participants or any individual Participant, including, without limitation, determinations which affect the calculation or amount of Awards, the Final Funding Percentage or the Individual Performance Modifier. Once
determined, or modified, such determinations shall be communicated to the affected Participants in such form and manner as the Executive Team determines to be appropriate. 

Article V.    Establishment of Awards. 

After the end of each Plan Year, the O&C Committee shall certify the amount or level of the Company’s EBITDA and the Operational
Metrics attained. The O&C Committee shall also determine the Funding Trigger Percentage, the Total Weighted Operational Metric Funding Percentage and the resulting Final Funding Percentage for the Plan Year. 

A.    Determination of the Funding Trigger Percentage. 

The Funding Trigger Percentage shall be determined based on the Company’s level of attainment of EBITDA, as determined by the O&C
Committee. Failure to achieve the Threshold EBITDA level will result in no funding of awards under this Plan for such Plan Year. Achievement of the Threshold EBITDA level will result in a Funding Trigger Percentage of 50%. Achievement of the Target
EBITDA level will result in a Funding Trigger Percentage of 100%, with the achievement of an EBITDA level over the Threshold EBITDA but less than the Target EBITDA resulting in a Funding Trigger Percentage equal to the percentage of the Target
EBITDA achieved. 

  
 3 

 B.    Determination of the Total Weighted Operational Metric Funding Percentage.

 If the Threshold EBITDA level is achieved, the Total Weighted Operational Metric Funding Percentage shall be calculated. The Operational
Metric Funding Percentage for each Operational Metric shall be determined by the Company’s level of achievement of each of the operational metrics set by the O&C Committee for the Plan Year. Each Operational Metric Funding Percentage shall
then be multiplied by the weighting percentage of such Operational Metric as set by the O&C Committee to determine a weighted Operational Metric Funding Percentage. The weighted Operational Metric Funding Percentages shall be added together to
determine the Total Weighted Operational Metric Funding Percentage. 
 C.    Determination of the Final Funding Percentage. 

If EBITDA is above the Target EBITDA level, the Final Funding Percentage is equal to the Total Weighted Operational Metric Funding Percentage.
If EBITDA is at the Target EBITDA level or between the Target EBITDA level and the Threshold EBITDA level, the Final Funding Percentage is the lesser of the Funding Trigger Percentage or the Total Weighted Operational Metric Funding Percentage. 

Article VI.    Determination of Individual Participant Awards and Application of Individual Performance Modifier. 

A.    Determination of Individual Participant Awards. 

Each Participant’s Award for a Plan Year will be determined after the end of each Plan Year by multiplying the Participant’s Target
Award by the Final Funding Percentage; and multiplying such amount by the applicable Individual Performance Modifier determined in accordance with Section VI.B. below. The O&C Committee shall determine each Award for Executive Officers and
Additional Persons and the Executive Team shall determine each Award for other Participants. 
 B.    Application of Individual
Performance Modifier. 
 (i)    As described in Section VI.A. above, the amount determined by multiplying the
Participant’s Target Award by the Final Funding Percentage shall be adjusted by applying the Individual Performance Modifier for each Participant in the sole discretion of (a) the O&C Committee, in the case of Executive Officers or
Additional Persons, or (b) the Executive Team, in the case of all other Participants. 
 (ii)    The
Participant’s Individual Performance Modifier shall be established by the O&C Committee or the Executive Team, as applicable, in its sole discretion within the range of plus fifty percent (+50%) and minus fifty percent (-50%), or such other range as may be determined by the O&C Committee. 
 Article
VII.    Payment of Awards. 
 All Awards will be paid in the form of a lump sum cash payment to Participants
by March 15 of the year following the end of the Plan Year to which the Award relates, subject to applicable tax withholding requirements. 

Article VIII.    Termination of Employment and Partial Awards. 

Participation in the Plan shall cease immediately upon a Participant’s termination of employment with the Company for any reason (with or
without cause), including as a result of the Participant’s death, Disability, Retirement, or transfer to an affiliate of the Company. However, the Participant may be eligible for a partial award for the Plan Year in which termination of
employment occurs, in accordance with and subject to the provisions of Sections VIII.B and VIII.C. 

  
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 A.    Resignation or Termination. 

If a Participant voluntarily resigns his/her employment with the Company or is terminated (with or without cause) by the Company for reasons
other than death, Disability or Retirement, such Participant shall forfeit any right to receive an Award for the Plan Year in which such resignation or termination takes place, or to receive in the future payment of an Award previously earned as of
the prior Plan Year end. 
 B.    Death, Disability or Retirement. 

Notwithstanding the foregoing, if a Participant dies, becomes Disabled or retires during a Plan Year after having attained at least three
(3) full months of participation in the Plan during such Plan Year, the Participant, or the Participant’s beneficiary in the case of the Participant’s death, may, in the sole discretion of the Executive Team (or, in the case of a
Participant who is an Executive Officer or Additional Person, in the discretion of the O&C Committee), be entitled to receive payment of a partial Award, prorated for the number of months that the individual was a Participant during the Plan
Year in which such death, Disability or Retirement takes place. For purposes of applying this proration, a month shall include each month during which the individual was employed by the Company on the
15th day of such month prior to the individual’s death, Disability or Retirement, as the case may be. Any such Award shall be paid at the same time and in the same form that all other Awards
are paid for such Plan Year. The decisions of the Executive Team (or, in the case of a Participant who is an Executive Officer or Additional Person, the decisions of the O&C Committee) with respect to such Awards shall be final and binding on
all parties. For purposes of this provision, a Participant’s beneficiary shall be his/her surviving spouse or, if he/she has no surviving spouse, his/her estate. 

C.    Transfers. 
 If
a Participant (i) transfers employment to an affiliate of the Company after having attained at least three (3) full months of participation in the Plan during the Plan Year, and (ii) continues to be employed by an affiliate of the
Company through the remainder of the Plan Year, such individual shall, based on criteria determined by the Executive Team in its sole discretion (or, in the case of a Participant who is an Executive Officer or Additional Person, based on criteria
determined by the O&C Committee in its sole discretion), be entitled to receive a partial Award hereunder, prorated on the basis of the number of months such individual was employed by the Company during the Plan Year. For purposes of applying
this proration, a Participant shall be deemed to have been employed by the Company for a month if such Participant was employed by the Company on the 15th day of such month. Any such Award shall
be paid at the same time and in the same form that all other Awards are paid for such Plan Year under this Plan. The decisions of the Executive Team (or, in the case of a Participant who is an Executive Officer or Additional Person, the decisions of
the O&C Committee) with respect to such Awards shall be final and binding on all parties. 
 Article IX.    Administrative
Provisions. 
 A.    Administration. 

The O&C Committee and its members, jointly with the Company CEO and any other individual to whom the O&C Committee and the Company CEO
have delegated their responsibilities regarding the administration of this Plan, shall have full authority, discretion and power necessary or desirable to administer and interpret this Plan. Without in any way limiting the foregoing, all such
individuals shall have complete authority, discretion and power to: (i) determine the Participants for each Plan Year; (ii) evaluate and determine the performance of Participants; (iii) determine the Individual Performance Modifier
applicable to each Participant (iv) determine the amount of the Award for each Participant; (v) interpret the provisions of this Plan and any other documentation used in connection with this Plan,

  
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including documentation specifying individual performance goals, Award opportunities and the like; (vi) establish and interpret rules and procedures (written or by practice) for the
administration of the Plan; and (vii) make all other determinations and take all other actions necessary or desirable for the administration or interpretation of this Plan. All actions, decisions and interpretations of such individuals shall be
final, conclusive and binding on all parties. 
 B.    No Right to Continued Employment. 

Nothing in this Plan shall be deemed by implication, action or otherwise to constitute a contract of employment, or otherwise to provide a
Participant with any right of continued employment or impose any limitation on any right of the Company to terminate a Participant’s employment at any time. 

C.    No Assignment. 

A Participant or Participant’s beneficiary shall have no right to anticipate, alienate, sell, transfer, assign, pledge or encumber any
right to receive any Award made under the Plan, nor will any Participant or Participant’s beneficiary have any lien on any assets of the Company, or any affiliate thereof, by reason of any Award made under the Plan. No Award shall be in any
manner subject to the debts, contracts, liabilities, engagements, or torts of any Participant. 
 D.    Withholding. 

The Company shall have the right to deduct or withhold, or require a Participant to remit to the Company, any taxes required by law to be
withheld from Awards made under this Plan. 
 E.    Amendment of Plan. 

The Plan may be amended, suspended or terminated at any time and from time to time, by action of the O&C Committee, provided no such
amendment, suspension or termination adversely affects any Participant’s right to receive any amount to which they have become entitled under the terms of this Plan prior to such amendment, suspension or termination. In order to be effective,
any amendment of this Plan or any Award must be in writing. No oral statement, representation or the like shall have the effect of amending or modifying this Plan or any Award, or otherwise have any binding effect on the Company, the O&C
Committee, the Executive Team, or any individual who has been delegated authority by the O&C Committee or the Executive Team to administer this Plan. 

F.    No Obligation to Continue Plan. 

The adoption of the Plan does not imply any commitment to continue to maintain the Plan, or any modified version of the Plan, or any other plan
for incentive compensation, for any succeeding year. 
 G.    Governing Law. 

The Plan shall be construed in accordance with, and governed by, the laws of the State of Texas, without regard to its conflicts of laws
doctrine. Any disputes arising under this Plan and any action to enforce any provisions hereof, shall be maintained exclusively in the appropriate courts of Dallas County, Texas. 

H.    Severability. 

In case any provision of the Plan shall be held illegal or void, such illegality or invalidity shall not affect the remaining provisions of
this Plan, but shall be fully severable, and the Plan shall be construed and enforced as if said illegal or invalid provisions had never been inserted herein. 

  
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 I.    No Funding. 

All payments to be made hereunder shall be paid from the general assets of the Company, and no special or separate fund shall be established
and no segregation of assets shall be made to assure payment of such amounts. No Participant shall have any right, title, or interest whatsoever in or to any amounts under the Plan prior to receipt. Nothing contained in the Plan, and no actions
taken pursuant to its provisions, shall create or be construed to create a trust or fund of any kind, or a fiduciary relationship between the Company and any other person. The rights of any Participant or beneficiary to any amounts hereunder shall
be no greater than those of an unsecured general creditor of the Company. 
 J.    Limitation of Liability. 

Except for their own gross negligence or willful misconduct regarding the performance of the duties specifically assigned to them under, or
their willful breach of the terms of this Plan, the Company, the O&C Committee and its members, the Executive Team and its members, and any other entity or individual administering any aspect of this Plan shall be held harmless by the
Participants and their respective representatives, heirs, successors, and assigns, against liability or losses occurring by reason of any act or omission under the Plan. 

K.    Successors. 

This Plan may be assigned or transferred to, and shall be binding upon and shall inure to the benefit of, any person, firm, corporation, or
business entity which at any time, whether by merger or purchase, or otherwise, acquires all or substantially all of the assets, equity, or business of the Company. 

Executed February 18, 2019, to be effective as of January 1, 2019. 

 

			
	Oncor Electric Delivery Company LLC
		
	By:	 	 /s/ Angela Guillory

		 	Angela Guillory
		 	Vice President
		 	Human Resources and Corporate Affairs

  
 7EX-10.(b)

 Exhibit 10(b) 

ONCOR ELECTRIC DELIVERY COMPANY LLC 

LONG-TERM INCENTIVE PLAN AWARD AGREEMENT 

This Long-Term Incentive Plan Award Agreement (the “Agreement”) is entered into as of January 1, 20__ (the “Grant
Date”), by and between Oncor Electric Delivery Company LLC (the “Company”) and [Name] (the “Participant”). 

WHEREAS, the Company has adopted the Oncor Electric Delivery Company LLC Long-Term Incentive Plan (the “Plan”); and 

WHEREAS, the Plan Administrator has determined that it is in the best interests of the Company to grant a Long-Term Incentive Award to
the Participant as provided for herein. 
 NOW, THEREFORE, the parties hereto, intending to be legally bound, agree as follows: 

SECTION 1.    LONG-TERM INCENTIVE AWARD: The Company hereby grants to the Participant a Long-Term Incentive Award, subject
to the terms set forth herein, as follows: 
  

			
	Performance Period:	 	January 1, 20    – December 31, 20    
		
	Target Opportunity:	 	$[Target Award Amount]

 The amount of the Long-Term Incentive Award that the Participant actually earns for the Performance Period (if any) will be
determined by the Plan Administrator in its discretion based on the level of achievement of the Performance Goals at the end of the Performance Period, as determined by the Plan Administrator in accordance with Exhibit A attached hereto.
Capitalized terms that are used but not defined herein shall have the meanings ascribed to them in the Plan. 
 SECTION
2.    PERFORMANCE GOALS: 
  

	 	(a)	 The particular Performance Goals and associated potential Long-Term Incentive Award determination procedures
are set forth in Exhibit A. All determinations of whether the Performance Goals have been achieved, the amount of the Long-Term Incentive Award earned by the Participant (if any), and all other matters related to this Agreement shall be made
by the Plan Administrator in its sole discretion. 

  

	 	(b)	 As soon as possible following completion of the Performance Period, but not later than 90 days following the
end of the Performance Period, the Plan Administrator will review and certify (i) whether, and to what extent, the Performance Goals for the Performance Period have been achieved and (ii) the amount of the Long-Term Incentive Award (if
any) that the Participant shall earn. Such certification shall be final, conclusive, and binding on the Participant and on all other persons, to the maximum extent permitted by law. 

SECTION 3.    VESTING: The Long-Term Incentive Award is subject to forfeiture until it vests. Except as specified under
Section 4 of this Agreement, the Long-Term Incentive Award will vest on the last day of the Performance Period, subject to (a) the achievement of the applicable Performance Goal thresholds for payout set forth in Exhibit A attached
hereto and (b) 

  
 1 

 
the Participant’s continuous service with the Company from the Grant Date through the last day of the Performance Period. The amount of the Long-Term Incentive Award that vests and becomes
payable under this Agreement, if any, shall be determined by the Plan Administrator based on the level of achievement of the Performance Goals set forth in Exhibit A and shall be rounded to the nearest whole dollar. 

SECTION 4.    TERMINATION OF EMPLOYMENT: 
  

	 	(a)	 If the Participant is employed by the Company on the last day of the Performance Period, and the
Participant’s employment with the Company terminates for any reason other than by the Company for Cause prior to payment of the Long-Term Incentive Award for the Performance Period, the Participant will receive the Long-Term Incentive Award (if
any) for the closed Performance Period at the same time as paid to current employees. Notwithstanding anything to the contrary, the Participant will forfeit any unpaid Long-Term Incentive Award upon a termination for Cause. 

 

	 	(b)	 Notwithstanding subsection (a) above, in the event of the Participant’s death, Disability,
Retirement, or Termination following a Change in Control prior to the end of the Performance Period, the vesting, determination and payment of the Long-Term Incentive Award shall be governed by the terms of Section 7 of the Plan.

 SECTION 5.    PAYMENT OF LONG-TERM INCENTIVE AWARD: Payment of the vested Long-Term Incentive
Award earned for the Performance Period (if any) shall be paid on or about April 1 following the end of the Performance Period, unless provided otherwise upon Termination following a Change in Control under the terms of the Plan. 

SECTION 6.    TRANSFERABILITY: Subject to any exceptions set forth in this Agreement or the Plan, the Long-Term Incentive
Award may not be sold, assigned, transferred, discounted, pledged as collateral for a loan, or otherwise anticipated by the Participant, except by will or the laws of descent and distribution in which case the transferee shall hold the Long-Term
Incentive Award subject to all of the terms and conditions that were applicable to the Participant immediately prior to such transfer. 
 SECTION
7.    NO EMPLOYMENT OR OTHER RIGHTS: Neither the Plan nor this Agreement shall confer upon the Participant any right to be retained in any position, as an employee, consultant, or director of the Company. Further,
nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Participant’s employment, with or without Cause. 

SECTION 8.    LONG-TERM INCENTIVE AWARD SUBJECT TO THE PLAN: This Agreement is subject to the Plan. The terms and
provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and
provisions of the Plan will govern and prevail. 
 SECTION 9.    APPLICABLE LAW: This Agreement shall be governed
by and construed in accordance with the laws of the State of Texas, without regard to its principles of conflict of law. 

  
 2 

 SECTION 10.    INTERPRETATION: Any dispute regarding the
interpretation of this Agreement shall be submitted by the Participant or the Company to the Plan Administrator for review. The resolution of such dispute by the Plan Administrator shall be final and binding on the Participant and the Company. 

SECTION 11.    WITHHOLDING: The Participant shall be required to pay to the Company, and the Company shall have the
right to deduct from any compensation paid to the Participant pursuant to the Plan, the amount of any required withholding taxes in respect of the Long-Term Incentive Award and to take all such other action as the Plan Administrator deems necessary
to satisfy all obligations for the payment of such withholding taxes. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related
withholding (“Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and the Company
(a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant, vesting, or payment of the Long-Term Incentive Award and (b) does not commit
to structure the Long-Term Incentive Award to reduce or eliminate the Participant’s liability for Tax-Related Items. 

SECTION 12.    NOTICES: Any notice required to be delivered to the Company under this Agreement shall be in writing and
addressed to the Chief Human Resources Officer of the Company at the Company’s principal corporate offices. Any notice required to be delivered to the Participant under this Agreement shall be in writing and addressed to the Participant at the
Participant’s address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Company) from time to time. 

SECTION 13.    HEADINGS: Headings are given to the Sections of this Agreement solely as a convenience to facilitate
reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Agreement or any provisions thereof. 

SECTION 14.    SUCCESSORS AND ASSIGNS: The Company may assign any of its rights under this Agreement. This Agreement will be
binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Participant and the Participant’s beneficiaries, executors,
administrators, and the person(s) to whom the Long-Term Incentive Award may be transferred by will or the laws of descent or distribution. 
 SECTION
15.    SEVERABILITY: The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each
provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law. 
 SECTION
16.    DISCRETIONARY NATURE OF PLAN: 
  

	 	(a)	 The Plan and the Long-Term Incentive Award are discretionary and may be altered, amended, suspended, or
terminated by the Board at any time, in its discretion; provided, that, no such amendment or termination may, without the consent of the Participant, terminate or adversely affect any material right or material obligation under the Long-Term
Incentive Award granted under this Agreement, except as provided pursuant to the terms of the Plan.  

  
 3 

	 	(b)	 The grant of the Long-Term Incentive Award in this Agreement does not create any contractual right or other
right to receive any Long-Term Incentive Award or other Awards in the future. Future Long-Term Incentive Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a
change or impairment of the terms and conditions of the Participant’s employment with the Company. 

 SECTION
17.    SECTION 409A: This Agreement is intended to comply with the applicable requirements of section 409A of the Code and its corresponding regulations and related guidance (“Section 409A”) or an
exemption there under and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A. Notwithstanding the foregoing, the Company makes no representations
that the payments and benefits provided under this Agreement comply with Section 409A and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest, or other expenses that may be incurred by the
Participant on account of non-compliance with Section 409A. 
 SECTION
18.    COUNTERPARTS: This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this
Agreement transmitted by facsimile transmission, by electronic mail in portable document format (pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as
physical delivery of the paper document bearing an original signature. 
 SECTION 19.    ACCEPTANCE: The Participant
hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms and provisions thereof, and accepts the Long-Term Incentive Award subject to all of the terms and conditions of the Plan and
this Agreement. The Participant acknowledges that there may be adverse tax consequences upon the vesting or payment of the Long-Term Incentive Award and that the Participant has been advised to consult a tax advisor prior to such vesting or payment.

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. 

 

											
	Oncor Electric Delivery Company LLC:	 		  	Participant:	 	

											
						
	By:	 	  
	 		  	By:	 	  
	 	
						
	Name:	 	  
	 		  	Name:	 	[Name]	 	
						
	Title:	 	  
	 		  		 		 	

  
 4 

 Exhibit A 

20     – 20    Performance Goals 

(Measured at the End of the Performance Period) 
  

									
	Funding Trigger	  	Threshold	  	Target	 
	 Net Income ($ millions, 20    -
20    cumulative)
	  		  			

  

							
	 Performance Goals

	 Weighting
	  	 Performance Metric
	  	 Performance Level

	30%	  	Safety measured by Days Away, Restricted or Transferred (DART); cumulative	  	 Threshold
 Target

Superior

			
	30%	  	Reliability measured by non-storm System Average Interruption Duration Index (SAIDI) in minutes; cumulative	  	 Threshold
 Target

Superior

			
	30%	  	Operational efficiency measured by operation and maintenance expense (O&M) and sales, general and administrative expense (SG&A) on a cost per customer basis, $; average	  	 Threshold
 Target

Superior

			
	10%	  	Operational efficiency measured by an infrastructure readiness metric based on the capital expenditure per three year average kW peak; %; cumulative	  	 Threshold
 Target

Superior

 Calculation of Award: The applicable Long-Term Incentive Award is equal to the product of (1) the Target
Opportunity amount described in Section 1 of this Agreement, multiplied by (2) the Final Funding Percentage. 
 Definitions: 

Final Funding Percentage: The Final Funding Percentage is the product of the Funding Trigger Percentage multiplied by
the Weighted Performance Goal Percentage. If Net Income is below the Funding Trigger Threshold, the Funding Trigger Percentage equals zero and no Long-Term Incentive Award will be payable. 

Funding Trigger Percentage: If Net Income is below the Funding Trigger Threshold, the Funding Trigger Percentage equals zero and no
Long-Term Incentive Award will be payable. The Funding Trigger Percentage for a Performance Period shall equal 50% if the Threshold level is met or 100% if the Target level is met or exceeded. The applicable percentage for performance between the
Threshold and Target performance levels shall be determined on a straight line interpolation basis. 

  
 5 

 Performance Goal Percentages: The Performance Goal Percentage with respect to a
specified Performance Metric for a Performance Period shall equal zero if the Threshold performance level is not met, 50% if the Threshold level is met, 100% if the Target level is met, or 150% if the Superior level is met or exceeded. The
applicable percentage for performance between the Threshold and Target performance levels, and the Target and Superior performance levels, shall be determined on a straight line interpolation basis. 

Weighted Performance Goal Percentage: To determine the Weighted Performance Goal Percentage, each individual Performance Goal Percentage
is multiplied by the Performance Goal weighting level indicated in the table above. The product of each of these calculations shall then be added together to determine the Weighted Performance Goal Percentage. 

  
 6

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