Document:

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                                                                    EXHIBIT 4.13
                                                                    ------------

                          COMMONWEALTH EDISON COMPANY

                         RETIREMENT PLAN FOR DIRECTORS

              As Amended Through the Effective Date of the Merger

                                  I.  Purpose
                                  -----------

     The Commonwealth Edison Company Retirement Plan for Directors is hereby
established by Commonwealth Edison Company ("Company") to provide benefits for
eligible members of the Company's Board of Directors as hereinafter set forth.

                               II.  Definitions
                               ----------------

     The following words and phrases shall have the meanings set forth below
unless a different meaning is required by the context:

     (a)  Board:  The Board of Directors of the Company.
          -----

     (b)  ComEd Service:  A Director's service on the Board.
          -------------

     (c)  Company:  Commonwealth Edison Company, a corporation organized and
          -------
existing under the laws of the State of Illinois, or its successor or
successors.

     (d)  Concurrent Service:  A Director's concurrent service on the Board and
          ------------------
as a member of the Board of Directors of Unicom Corporation or its successor or
successors, including Exelon Corporation.
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     (e)  Director:  Any member of the Board on or after January 1, 1987 who is
          --------
an outside director and who never has been an officer or employee of the Company
or any of its subsidiaries.

     (f)  Eligible Director:  A Director who meets the eligibility requirements
          -----------------
for retirement benefits set forth in Article III.

     (g)  Eligible Service:  A Director's (1) ComEd Service for any period, plus
          ----------------
(2) Unicom Service, if any, for any period after September 1, 1994, provided,
however, that any period of Concurrent Service shall be counted only once (and
not double-counted as a period of ComEd Service and Unicom Service) in
determining Eligible Service.

     (h)  Plan:  The Commonwealth Edison Company Retirement Plan for Directors,
          ----
as it may be amended from time to time.

     (i)  Retainer:  The amounts designated as annual retainer established for
          --------
members of the Board for their service as such prior to any reduction or offset
therefrom as a result of Unicom Service, whether payable in cash or shares of
stock; provided, however, that the supplemental annual fee adopted by the Board
on May 22, 1996, to replace a previous annual grant of 300 shares of Unicom
Corporation common stock under the Unicom Corporation Outside Director Stock
Award Plan shall not be deemed to be "Retainer" for purposes of this Plan; and
provided further, however, that after the closing of the merger of Unicom with
and into Exelon Corporation, pursuant to the terms of the Amended and

                                      -2-
<PAGE>

Restated Agreement and Plan of Exchange and Merger, dated as of September 22,
1999, amended and restated as of January 7, 2000, among PECO Energy Company
("PECO Energy"), Newholdco Corporation ("Exelon") and Unicom, pursuant to which
Unicom shall be merged with and into Exelon and the separate corporate existence
of Unicom shall cease and Exelon shall continue as the surviving corporation
(the "Merger"), amounts paid to Directors in the form of stock or derivative
securities shall not be deemed to be "Retainer" for purposes of the Plan."

     (j)  Termination Date:  The date on which an Eligible Director is no
          ----------------
longer a Director or a director of Unicom Corporation.

     (k)  Unicom Plan:  The Unicom Corporation Retirement Plan for Directors,
          -----------
as it may be amended from time to time.

     (l)  Unicom Service:  A Director's service as a member of the Board of
          --------------
Directors of Unicom Corporation or its successor or successors, including
Exelon."

                   III.  Eligibility For Retirement Benefits
                   -----------------------------------------

     Eligibility for retirement benefits under the Plan shall be limited to each
Director who has completed at least five full years of Eligible Service or at
least three full years of Eligible Service if such Director's Eligible Service
commenced after attaining age 65.

                                      -3-
<PAGE>

                       IV.  Amount of Retirement Benefit
                       ---------------------------------

     Each Eligible Director shall be entitled to an annual retirement benefit,
for the period provided in Article V, which shall be an amount equal to the
product of (a) the Retainer as in effect when such Eligible Director's benefit
payments commence, adjusted from time to time for any changes thereafter in the
Retainer, multiplied by (b) a fraction, the numerator of which shall be the
number of years of ComEd Service and the denominator of which shall be the
number of years of Eligible Service; provided, however, that in computing ComEd
Service, there shall be excluded one-half of the years of Concurrent Service;
and provided further, that in computing the number of years of ComEd Service,
Eligible Service and Concurrent Service for the purpose of this Article IV,
fractional years will be rounded up to the next higher whole year. Such benefit
shall be paid as hereinafter provided.

                      V.  Payment of Retirement Benefits
                      ----------------------------------

     Retirement benefit payments shall commence to be paid to an Eligible
Director on the last day of the calendar quarter following such Eligible
Director's Termination date, or, if later, the date such individual attains age
65; provided, however, that an Eligible Director may elect, on such form as the
Company may provide, no later than the last day of the calendar

                                      -4-
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year preceding the year in which he or she attains age 65, to defer commencement
of payment until such time as such individual shall elect, but, subject to the
requirement that the Eligible Director has incurred a Termination Date, payments
under this Article V shall in all events commence to be made not later than the
last day of the calendar quarter following the date an Eligible Director attains
age 72. Subsequent benefit payments shall be made on the last day of each
calendar quarter thereafter and shall be paid for a period equal to the Eligible
Director's years of Eligible Service. For the purpose of determining the payment
period, fractional years of Eligible Service will be rounded up to the next
higher whole year. Each installment of retirement benefit payments shall be
equal to one-fourth of the amount determined as provided in Article IV hereof.

     In the event of the Eligible Director's death after his or her Termination
Date but before commencement of payments hereunder or before the Eligible
Director has received all payments to which the Eligible Director is entitled
hereunder, the benefit payments to which the Eligible Director would have been
entitled had the Eligible Director lived shall be paid in the same amount to the
Eligible Director's surviving spouse or other designated beneficiary using the
same payment schedule and amount as would have applied if the Eligible Director
had lived.

     Notwithstanding the foregoing, by March 31, 1997 each Director may
irrevocably elect, in lieu of amounts otherwise payable pursuant to this Article
a lump sum amount, payable on

                                      -5-
<PAGE>

the Eligible Director's Termination Date, or as soon as practicable thereafter,
either (a) by delivery of the number of whole shares of common stock of Unicom
Corporation ("Unicom Stock") to be received with cash in lieu of fractional
shares, or (b) in cash; provided that, for any Eligible Director's Termination
Date occurring on or after the effective date of the Merger, such lump sum
amount shall be paid to an Eligible Director on the last day of the calendar
quarter following such Eligible Director's Termination Date, or, if later, the
date such individual attains age 65; provided, however, that an Eligible
Director may elect, on such form as the Company may provide, no later than the
last day of the calendar year preceding the year in which he or she attains age
65, to defer commencement of payment until such time as such individual shall
elect, but, subject to the requirement that the Eligible Director has incurred a
Termination Date, payments under this Article V shall in all events commence to
be made not later than the last day of the calendar quarter following the date
an Eligible Director attains age 72.

     The number of shares to be delivered pursuant to an election described in
clause (a) above shall be determined as follows: An equivalent number of shares
shall be calculated by using the lump sum present value on January 1, 1997 of
the benefit otherwise payable pursuant to this Article divided by the closing
price of a share of Unicom Stock reported on the New York Stock Exchange
Composite Transactions on March 28, 1997,

                                      -6-
<PAGE>

including for this purpose fractional shares. The number of equivalent shares so
determined shall be credited to an account maintained by the Company on its
books. As of each date (prior to the Eligible Director's Termination Date) on
which a cash dividend is paid on Unicom Stock, each such account shall be
credited with an additional number of equivalent shares to be determined by
assuming reinvestment of equivalent dividends on shares then in the account. On
the effective date of the Merger, the number of shares of Unicom Stock as
determined in this paragraph shall be converted into the right to receive shares
of the common stock of Exelon ("Exelon Stock") by multiplying the number of
equivalent shares of Unicom Stock so determined by 0.95. Thereafter, each such
account shall be credited with an additional number of equivalent shares of
Exelon Stock to be determined by assuming reinvestment of equivalent dividends
on shares of Exelon Stock then in the account as of each date (prior to the date
the Eligible Director's retirement benefit payments commence to be paid in
accordance with Article V) on which a cash dividend is paid on Exelon Stock.

          The cash amount to be paid pursuant to an election under clause (b)
above shall be the lump sum present value on January 1, 1997, of the benefit
otherwise payable pursuant to this Article, determined by crediting such amount
to an account maintained by the Company on its books, increased by amounts
representing interest, compounded quarterly, at a rate equal to the stated
interest rate on the then most recently issued

                                      -7-
<PAGE>

straight debt obligation of Commonwealth Edison Company with a maturity of at
least 3 years, and computed to the date of payment.

          The lump sum present value of a benefit otherwise payable under the
Article as of January 1, 1997 shall be computed by the Company using the
discount rate then in use for purposes of determining the funding requirements
for the Commonwealth Edison Company Service Annuity System.

          If a Director does not make the election at the time specified in the
fourth preceding paragraph, his or her benefits shall be paid in the manner
prescribed by the first two paragraphs of this Article.

          In the event of death before retirement of a Director who has elected
payment of a lump sum amount in lieu of quarterly benefit payments otherwise
payable hereunder, such Director's surviving spouse or other designated
beneficiary, if any, shall receive a lump sum payment in accordance with such
Director's election, if such surviving spouse or other designated beneficiary
would have been entitled to Pre-Retirement Death Benefits under Article VI of
this Plan but for the Director's election to take a lump sum amount. Such lump
sum payment shall be in the amount accrued in the Director's account on the
Company's books on the date of death and shall be payable to the surviving
spouse or other designated beneficiary as soon as practicable thereafter.

                                      -8-
<PAGE>

          In the event the Eligible Service of a Director, who has elected a
lump sum amount in lieu of quarterly benefit payments hereunder, is terminated
due to disability, a lump sum payment shall be made to the Director (or to such
other person as may be determined in accordance with Article X of this Plan if
the Director is under legal disability or is otherwise unable properly to manage
his or her affairs), if such Director qualifies for Disability Benefits under
Article VII of this Plan. Such lump sum payment shall be made as soon as
practicable following the determination of disability in accordance with Article
VII.

                      VI.  Pre-Retirement Death Benefits
                      ----------------------------------

          (a)  If the Eligible Service of a Director who is eligible to retire
as an Eligible Director is terminated due to death, such Director's surviving
spouse or other designated beneficiary, shall receive the benefit to which the
surviving spouse or other designated beneficiary would have been entitled had
the Director retired and his Termination Date occurred on the day prior to his
or her death.

          (b)  If the Eligible Service of a Director is terminated due to death
prior to completing at least five full years of Eligible Service, such
Director's surviving spouse or other designated beneficiary shall receive the
benefit to which the surviving spouse or other designated beneficiary would have

                                      -9-
<PAGE>

been entitled had such Director completed at least five full years of Eligible
Service and terminated Eligible Service on the day prior to his or her death,
except that (i) the amount of each installment of such benefit shall be equal to
one-fourth of the amount determined as provided in Article IV hereof and (ii)
the benefit shall be paid for a period equal to the Director's years of Eligible
Service at the Director's date of death.

          (c)  Payments of any benefits under subparagraphs (a) or (b) shall
commence on the last day of the calendar quarter in which occurs the Director's
date of death.

                           VII.  Disability Benefits
                           -------------------------

          If the Eligible Service of a Director is terminated due to disability
prior to completing at least five full years of Eligible Service, such Director
shall be entitled to payment of benefits, if any, under this Plan on the same
basis as he or she would have been if he or she had completed at least five full
years of Eligible Service. For purposes of this Article VII, disability shall
mean a disability that prevents the Director from performing any and every duty
of a member of the Board. The determination of the Compensation Committee of the
Board as to whether a Director is terminated due to disability shall be final
and conclusive.

                         VIII.  Financing of Benefits
                         ----------------------------

                                      -10-
<PAGE>

          The Plan shall be a noncontributory, nonqualified and unfunded plan.
Benefit payments under the Plan shall represent an unsecured general obligation
of the Company and shall be paid by the Company from its general assets. No
special fund or trust shall be created, nor shall any notes or securities be
issued with respect to any benefits under the Plan.

                          IX.  Forfeiture of Benefits
                          ---------------------------

          As long as a former Director is receiving or is entitled to receive
benefits under the Plan, such former Director will not directly or indirectly
enter into or in any manner take part in any business or other endeavor, either
as an employee, agent, independent contractor, owner or otherwise, which in any
manner competes or conflicts with the business of the Company or is detrimental
to the best interests of the Company, unless the Company gives its prior written
consent thereto. The failure of a former Director to comply with the provisions
of this Article shall result in the forfeiture of all further payments which
otherwise would become due and payable under the Plan to the former Director or
to his or her surviving spouse or other designated beneficiary. Before any such
forfeiture, the Company shall mail notice to the former Director that
consideration is being given to forfeiture pursuant to this Article. On written
request of the former Director within sixty days following the

                                      -11-
<PAGE>

mailing by the Company of the notice, the Compensation Committee of the Board
shall afford the former Director an opportunity, at any mutually convenient time
within that sixty-day period, to demonstrate to the Compensation Committee that
forfeiture of payments would not be justified.

                            X.  Facility of Payment
                            -----------------------

          Whenever a person entitled to receive any payment under the Plan is a
person under legal disability or a person not adjudicated incompetent but who,
by reason of illness or mental or physical disability, is in the opinion of the
Compensation Committee of the Board unable properly to manage his or her
affairs, then such payments shall be paid in such of the following ways as the
Compensation Committee deems best: (a) to such person directly; (b) to the
legally appointed guardian or conservator of such person; (c) to some relative
or friend of such person for his or her benefit; or (d) for the benefit of such
person in such manner as the Compensation Committee considers advisable. Any
payment made in accordance with the provisions of this Article shall be a
complete discharge of any liability for the making of such payment under the
Plan, and the distributee's receipt shall be a sufficient discharge of the
Company.

                              XI.  Administration
                              -------------------

                                      -12-
<PAGE>

          Each Eligible Director shall be entitled to designate a beneficiary to
receive any death benefits payable under the Plan, on such form as the Committee
shall require. No beneficiary designation will be effective unless filed with
the Secretary's Office of the Company prior to the date of an Eligible
Director's death. In the absence of a valid beneficiary designation, death
benefits shall be paid to the Eligible Director's estate. The Plan shall be
administered by the Compensation Committee of the Board, which shall have full
and final authority to interpret the provisions of the Plan and to make
determinations regarding the administration of the Plan. All decisions and
determinations by the Compensation Committee shall be final and binding upon all
parties.

                              XII.  Miscellaneous
                              -------------------

          The Plan shall not affect in any way the rights of a Director under
any deferred compensation agreement between the Director and the Company.

          The Plan may not be cancelled by the Company upon any merger or
consolidation with or acquisition of the Company by any other entity, but shall
be binding upon and inure to the benefit of the successors and assigns of the
Company and the heirs, executors, administrators and assigns of each Director.

                                      -13-
<PAGE>

          No person shall have any right to commute, incumber, pledge or dispose
of any right to receive payments hereunder, nor shall such payments be subject
to seizure, attachment or garnishment for the payments of any debts, judgments,
alimony or separate maintenance obligations or be transferable by operation of
law in the event of bankruptcy, insolvency or otherwise, all payments and rights
hereunder being expressly declared to be nonassignable and nontransferable.

          The Plan may be amended from time to time or terminated by the Board
at any time, but no amendment or termination may adversely affect the rights of
any person then receiving benefits under the Plan or who is entitled to receive
benefits under the Plan on account of a Director's prior termination of Eligible
Service.

          This Plan shall be governed by the law of the State of Illinois.

                                      -14-<PAGE>

                                                                    EXHIBIT 4.15
                                                                    ------------
                          Commonwealth Edison Company
                          ---------------------------

                             Amendment Number One

                                      to

                              Commonwealth Edison
                     Employee Savings and Investment Plan
                     ------------------------------------

          WHEREAS, Commonwealth Edison Company, an Illinois corporation (the
"Company"), has adopted and maintains a profit sharing plan with a qualified
cash or deferred arrangement for the benefit of its employees titled
"Commonwealth Edison Employee Savings and Investment Plan" (the "Plan") which
has been amended and restated effective as of January 1, 1995; and

          WHEREAS, the Plan excludes from participation employees of Cotter
Corporation who are not classified as salaried employees and the Company desires
to amend the Plan to permit all employees of Cotter Corporation, regardless of
classification, to participate in the Plan.

          NOW, THEREFORE, pursuant to the power of amendment contained in
Section 16.1 of the Plan and subject to ratification by the Board of Directors
of the Company, the definition of Eligible Employee contained in Article 2 of
the Plan is hereby amended by inserting the phrase "for periods prior to June
25, 1995," immediately after the word "(ii)" contained therein.

          IN WITNESS WHEREOF, Commonwealth Edison Company has caused this
Amendment Number One to the Commonwealth Edison Employee Savings and Investment
Plan to be executed in its name and its corporate seal to be hereunto affixed on
this 11th day of July, 1995.

                                            COMMONWEALTH EDISON COMPANY

                                            By:_________________________________

                                            Title:  Chairman

(Corporate Seal)

ATTEST:

_____________________________

Title:  Secretary
<PAGE>

                       Amendment to Commonwealth Edison
                     Employee Savings and Investment Plan
                     ------------------------------------

     WHEREAS, Commonwealth Edison Company, an Illinois corporation (Company),
has adopted and maintains a profit sharing plan with a qualified cash or
deferred arrangement for the benefit of its employees titled "Commonwealth
Edison Employee Savings and Investment Plan" (Plan) which has been amended and
restated effective as of January 1, 1995; and

     WHEREAS, the Company desires to amend the Plan in certain respects.

     NOW, THEREFORE, be it

     RESOLVED, that pursuant to the power of amendment contained in Section 16.1
of the Plan, the Plan is hereby amended as of May 22, 1996, as follows:

     1.   Article 2 of the Plan is hereby amended by inserting the following new
definition after the definition of Valuation Date contained therein:

          (30)  VRU.  The telephonic voice response unit designated by the
                ---
     Committee, which may be used to make certain elections under the Plan. The
     VRU shall require each Participant, or Beneficiary, as the case may be, to
     provide such identification data as may, from time to time, be required by
     the VRU. The Committee shall cause to be kept such records of VRU activity
     as it shall deem necessary or appropriate, and such records shall
     constitute valid authorization of the elections made by each Participant
     and Beneficiary for all purposes of the Plan and applicable Regulations. No
     written authorization shall be required from a Participant or Beneficiary
     after an election has been made by calling the VRU.

     2.   Section 8.1 of the Plan is hereby amended by deleting the words "in
the manner prescribed by the Committee" contained in paragraphs (a), (b), (c)
and (d) thereof and inserting in lieu thereof the words "by calling the VRU, or
in such other manner as may be prescribed by the Committee,".

     3.   Section 8.3(c) of the Plan is hereby amended by deleting the words "in
writing" contained in the first sentence thereof and inserting in lieu thereof
the words "by calling the VRU, or in such other manner as may be prescribed by
the Committee,".

     4.   Section 8.3(d) of the Plan is hereby amended to read as follows:

     No less than 30 days and no more than 90 days before distribution is to be
     made hereunder, the Committee, or its designee, shall explain to the
     Participant that he or she may elect either form of distribution set forth
     in paragraph (c) of this Section 8.3.  Such explanation shall include a
     general description of the eligibility conditions and other material
     features of the optional forms of distribution provided under the Plan.
     Notwithstanding the first sentence of this subsection, distribution may
     commence less than 30 days after the description described above is given,
     provided that:  (i) the Committee, or its designee, clearly informs the
     Participant that the Participant has a right to a period of at least 30
     days after receiving the explanation to consider the decision of
<PAGE>

     whether or not to elect a distribution (and, if applicable, a particular
     distribution option), and (ii) the Participant, after receiving the
     explanation, affirmatively elects a distribution. The description referred
     to in this subsection, as well as the explanation of the participant's
     right to a period of at least 30 days to consider such explanation before
     electing a distribution, shall be provided to the Participant through the
     VRU or in such other manner prescribed by the Committee.

     5.   Section 8.4 of the Plan is hereby amended (i) by deleting the words
"in writing" contained in subparagraph (1) thereof and inserting in lieu thereof
the words "by calling the VRU, or in such other manner as may be prescribed by
the Committee," (ii) by deleting the words "in writing prior to his or her
termination of employment" contained in subparagraph (2) thereof and inserting
in lieu thereof the words "by calling the VRU, or in such other manner as may be
prescribed by the Committee, which election shall be made at the time prescribed
by the Committee," and (iii) by inserting the words "by calling the VRU, or in
such other manner as may be prescribed by the Committee," immediately after the
words "at any time" contained in subparagraph (3) therein.

                                       2
<PAGE>

                          Commonwealth Edison Company
                              Board of Directors
                              September 12, 1996

                   Amendment Number 3 to Commonwealth Edison
                     Employee Savings and Investment Plan

          WHEREAS, Commonwealth Edison Company, an Illinois corporation (the
"Company"), has adopted and maintains a profit sharing plan with a qualified
cash or deferred arrangement for the benefit of its employees titled
"Commonwealth Edison Employee Savings and Investment Plan" (the "Plan") which
has been amended and restated effective as of January 1, 1995; and

          WHEREAS, the Company desires to amend the Plan in certain respects.

          NOW, THEREFORE, be it

          RESOLVED, that pursuant to the power of amendment contained in Section
16.1 of the Plan, the Plan is hereby amended as follows:

          1.   Effective January 1, 1995, the Plan shall be amended as follows:

          a.   Article 2 of the Plan is hereby amended by deleting the word
"management" that appears in the first sentence of clause (10) thereof and
inserting in lieu thereof the word "salaried".

          b.   Article 2 of the Plan is hereby further amended by deleting item
(iv) of clause (13) thereof and inserting in lieu thereof the following new item
(iv):
          (iv) an Employee engaged by an Employer on a separate contract basis
          who is not on the payroll of any Employer.

                                       2
<PAGE>

          c.   Section 3.1 of the Plan is hereby amended by deleting the words
"on the management or executive payroll" that appear in the second sentence
contained therein and inserting in lieu thereof the words "a salaried employee".

          d.   Section 3.2 of the Plan is hereby amended by deleting the words
"on the management or executive payroll" that appear in the penultimate sentence
thereof and inserting in lieu thereof the words "a salaried employee".

          e.   Section 4.1(a) of the Plan is hereby amended by deleting clause
(b) of the third paragraph contained therein and inserting in lieu thereof the
following new clause (b):

          (b)  such Participant shall not again be eligible to elect such
          contributions until the first payroll period that coincides with or
          follows the date on which contributions ceased by 12 months;

          f.   Section 8.1(a) of the Plan is hereby amended by inserting the
following new paragraph at the end thereof:

                    If a Participant receives a hardship withdrawal pursuant to
          this Section 8.1(a), then, in addition to the cessation of Before-Tax
          Contributions and After-Tax Contributions required by Section 4.1(a),
          contributions by the Participant to qualified or nonqualified plans of
          deferred compensation, including a stock option, stock purchase or
          similar plan, maintained by an Employer also shall cease beginning
          with the first payroll period beginning after the date on which the
          Participant receives such hardship withdrawal and continuing until the
          first payroll period that coincides with or follows the date on which
          contributions ceased by 12 months.

          g.   Paragraph (e) of Section 8.3 of the Plan is hereby deleted and
paragraph (f) of Section 8.3 is redesignated paragraph (e).

          h.   Section 8.4 of the Plan is hereby amended (a) by deleting the
words "Subject to Section 8.3(e), a" that appear in the first sentence thereof
and inserting in lieu thereof the word "A" and (b) by deleting the phrase
"within 60 days following the end of the Plan Year in which the Participant
attains age 70-1/2" contained in subparagraph (2) thereof and inserting in lieu
thereof the phrase "as soon as practicable after the Participant's attainment of
age 70-1/2".

                                       2
<PAGE>

          i.   Section 8.4 of the Plan is hereby further amended by adding the
following new paragraph immediately after paragraph (5) contained therein:

               (6)  Distribution of Rollover Account After Termination Date.  A
                    -------------------------------------------------------
          Participant who has terminated employment or the Beneficiary of such
          Participant, as the case may be, may elect in writing prior to the
          time his or her vested account balance is distributed under this
          Section 8.4 to have distribution of the balance of his or her Rollover
          Account commence at such prior time as the Participant or Beneficiary
          shall elect, provided that, while any loan to the Participant under
          Section 8.2 remains outstanding, such distribution shall be made only
          to the extent that the balance of such Participant's vested account
          balance remaining after such distribution will equal or exceed the
          balance of all outstanding loans to the Participant.

          j.   Section 10.1 of the Plan is hereby amended by deleting the words
"on the management or executive payroll" contained therein and inserting in lieu
thereof the words "a salaried employee".

          k.   Sections 10.2(a) and 10.2(b) of the Plan are hereby amended by
deleting the words "on the management or executive payroll" wherever they appear
therein and inserting in lieu thereof the words "a salaried employee".

          l.   Section 10.5 of the Plan is hereby amended by adding the
following new sentence at the beginning thereof:

          A leased employee (within the meaning of section 414(n)(2) of the
          Code) shall not be eligible to participate in the Plan.

          2.   Effective November 13, 1995 for salaried employees and hourly
employees of Cotter Corporation, and December 25, 1995 for hourly employees of
the Company and Commonwealth Edison Company of Indiana, Inc., the Plan shall be
amended as follows:

          a.   Section 4.3 of the Plan is hereby amended to read as follows:

               Section 4.3.  Employer Matching Contributions.  Subject to the
               -----------   -------------------------------
          limitations set forth in Sections 4.4 (relating to limitations on
          contributions for highly compensated Eligible Employees), 4.5
          (relating to the limitations on Employer

                                       3
<PAGE>

          contributions) and 7.4 (relating to limitations on allocations imposed
          by section 415 of the Code) and except as provided in the following
          sentence, each Employer shall contribute for each payroll period on
          behalf of each Participant who is an Employee of such Employer, an
          amount equal to the sum of (x), (y) and (z), where (x) is 100 percent
          of Matched Contributions, as hereafter defined, but only to the extent
          that Matched Contributions do not exceed 2 percent of the
          Participant's Compensation for the payroll period, (y) is 70 percent
          of Matched Contributions in excess of 2 percent of the Participant's
          Compensation but not in excess of 5 percent of the Participant's
          Compensation for the payroll period, and (z) is 25 percent of Matched
          Contributions in excess of 5 percent of the Participant's Compensation
          but not in excess of 6 percent of the Participant's Compensation for
          the payroll period. Notwithstanding the preceding sentence, no
          Employer shall make a contribution pursuant to this Section 4.3 on
          behalf of any Participant who is a "part-time regular employee" as
          defined in an Agreement dated July 23, 1993 between ComEd and the
          System Council U-25, I.B.E.W., unless such Participant had in effect
          on July 23, 1993 an authorization to make contributions under the Plan
          as then in effect and elected pursuant to such agreement to become a
          part-time regular employee during the initial staffing period that
          began July 23, 1993 and ended December 31, 1993.

               For purposes of this Section 4.3, Matched Contributions means the
          sum of (i) the Before-Tax Contributions made on behalf of the
          Participant for a payroll period, excluding Before-Tax Contributions
          made with respect to any one-time lump sum preferred coverage bonus
          paid under a cafeteria plan described in section 125 of the Code
          maintained by any Employer,  and (ii) the After-Tax Contributions made
          by the Participant for such payroll period.

               Employer Matching Contributions for any Plan Year shall be
          delivered to the Trustee at the same time the Before-Tax contributions
          or After-Tax Contributions to which such Employer Matching
          Contributions relate are delivered to the Trustee.

          b.  Section 8.3(a) of the Plan is hereby amended by deleting the
introductory paragraph thereof (up to the colon) and inserting in lieu thereof
the following new introductory paragraph:

          If a Participant who is a salaried employee of any Employer or an
          hourly employee of Cotter Corporation terminates employment on or
          after November 13, 1995 or if a Participant who is an hourly employee
          of any Employer other than Cotter Corporation terminates employment on
          or after December 25, 1995, the Participant, or his or her designated
          Beneficiary, as the case may be, shall be entitled to receive the
          entire balance of the Participant's accounts, at the time set forth in
          Section 8.4 and in the manner set forth in paragraph (c) of this
          Section 8.3.  If a Participant who is a salaried employee of any
          Employer or an hourly employee of Cotter Corporation terminates
          employment before November 13,

                                       4
<PAGE>

          1995 or if a Participant who is an hourly employee of any Employer
          other than Cotter Corporation terminates employment before December
          25, 1995, in either case under any of the following circumstances, the
          Participant, or his or her designated Beneficiary, as the case may be,
          shall be entitled to receive the entire balance of the Participant's
          accounts, at the time set forth in Section 8.4 and in the manner set
          forth in paragraph (c) of this Section 8.3:

          3.   Effective January 1, 1996, the Plan shall be amended as follows:

          a.  Article 2 of the Plan is hereby amended by deleting the first
sentence of clause (10) thereof and inserting in lieu thereof the following new
sentence:

          The normal base pay of an Employee from an Employer for personal
          services rendered, including any salary continuation under a severance
          benefit plan of an Employer, any one-time lump sum preferred coverage
          bonus paid under a cafeteria plan described in section 125 of the Code
          maintained by any Employer, nuclear license premiums for salaried
          employees and meter readers' bonuses, excluding, however, lump sum
          payments under a severance arrangement of an Employer, bonuses (other
          than meter readers' bonuses), overtime pay, shift premiums, fringe
          benefits, other extraordinary payments, and payments made in a form
          other than cash; but without reduction on account of the Employee's
          election to have his or her pay reduced pursuant to a qualified cash
          or deferred arrangement described in section 401(k) of the Code or a
          cafeteria plan described in section 125 of the Code.

          b.   The first paragraph of Section 8.2(b) of the Plan is hereby
amended by adding the following new sentence at the end of clause (2) of the
first paragraph thereof:

          A Participant who (a) was an Employee at the time the Participant
          received a loan from the Plan, (b) is no longer an Employee and no
          longer receives compensation from an Employer, but (c) continues to
          perform services for an Employer, shall consent, either at the time
          the loan is taken or prior to the date prescribed by the Committee, to
          have the balance of any loan outstanding  at the time the Participant
          no longer is an Employee repaid in substantially equal installments
          over the remaining life of the loan.  Such installments shall be paid
          either by check or money order delivered to the Committee.

          c.   The second sentence of the second paragraph of Section 8.2(b) of
the Plan is hereby amended to read as follows:

          If upon a Participant's termination of employment entitling the
          Participant to a distribution under Section 8.3 (relating to
          distributions upon termination of employment), death or retirement,
          any loan or portion of a loan made to such

                                       5
<PAGE>

          Participant under the Plan, together with the accrued interest
          thereon, remains unpaid, such unpaid amount may be repaid to the Plan
          no later than the last day of the calendar quarter following the
          calendar quarter in which such termination of employment occurred.

          d.   Section 8.3(b) of the Plan is hereby amended by deleting the last
three sentences contained therein and inserting in lieu thereof the following
three new sentences:

          The difference between the balance of the Employer Matching
          Contributions Account for a Participant who has terminated employment
          and the amount distributable with respect to such account pursuant to
          this paragraph shall be segregated from such Account as of the earlier
          of (i) the date on which the Participant has requested a distribution
          from the Plan and (ii) as soon as practicable after January 1, 1996
          and shall be invested in the investment fund determined by the
          Committee to provide the least risk of loss of the amount invested
          until such nonvested amount either shall again be credited to the
          Participant's Employer Matching Contributions Account pursuant to
          Section 10.3(b) or allocated in the manner prescribed by Section
          7.3(e).  If such Participant is not rehired by an Employer before the
          fifth anniversary of the Participant's Termination Date, the portion
          so segregated from his or her Employer Contribution Account shall
          become a forfeiture at the end of the Plan Year following the fifth
          anniversary of the Plan Year in which the Participant terminated
          employment. The aggregate amount of Participants' forfeitures shall be
          allocated as described in Section 7.3(e).

          4.   Effective June 1, 1996, the Plan shall be amended as follows:

          a.   Section 3.2 of the Plan is hereby amended by adding the following
two new sentences at the end thereof:

          Notwithstanding anything contained herein to the contrary, if an
          Eligible Employee who has satisfied the conditions set forth in
          Section 3.1, regardless of whether such Eligible Employee is a
          Participant, elects, pursuant to a cafeteria plan described in section
          125 of the Code maintained by any Employer, to reduce the Eligible
          Employee's Compensation by any one-time lump sum preferred coverage
          bonus paid under such cafeteria plan and have such amount contributed
          to the Plan, such Eligible Employee shall be deemed to have elected to
          participate in the Plan with respect to such contribution and shall be
          treated with respect to such contribution as a Participant for all
          purposes of the Plan.  Any contribution described in the preceding
          sentence shall be a Before-Tax Contribution and, except as otherwise
          provided in Section 4.3 (relating to Employer Matching Contributions),
          shall be treated in the same manner as all other Before-Tax
          Contributions under the Plan.

                                       6
<PAGE>

          b.   Clause (C) of the second sentence of Section 14.2(b) of the Plan
is hereby amended to read as follows:

          (C)  does not require the commencement of payment of benefits to any
          alternate payee before the earlier of (I) the date on which the
          Participant is entitled to a distribution under the Plan and (II) the
          date the Participant attains age 50, except that the order may require
          the commencement of payment of benefits as soon as administratively
          practicable after the date such order is determined by the Committee
          to be a "qualified domestic relations order";

                                       7
<PAGE>

                          Commonwealth Edison Company
                              Board of Directors
                                     1997

                   Amendment Number 4 to Commonwealth Edison
                     Employee Savings and Investment Plan

          WHEREAS, Commonwealth Edison Company, an Illinois corporation (the
"Company"), has adopted and maintains a profit sharing plan with a qualified
cash or deferred arrangement for the benefit of its employees titled
"Commonwealth Edison Employee Savings and Investment Plan" (the "Plan"), which
has been amended and restated effective as of January 1, 1995; and

          WHEREAS, the Company desires to amend the Plan in certain respects.

          NOW, THEREFORE, be it

          RESOLVED, that pursuant to the power of amendment contained in Section
16.1 of the Plan, the Plan is hereby amended as follows:

          1.   Effective January 1, 1995, Article 2 of the Plan is hereby
amended by deleting item (iv) of clause (13) thereof and inserting in lieu
thereof the following new item (iv):

          an individual who performs services for an Employer pursuant to an
          agreement (written or oral) that classifies such individual's
          relationship with the Employer as other than an Employee or otherwise
          contains a waiver of participation herein, regardless of whether such
          individual is at any time determined to be an Employee.

          2.   Effective December 24, 1995, the last sentence of the first
paragraph of Section 4.3 of the Plan is hereby amended to read as follows:

          Notwithstanding the preceding sentence, no Employer shall make a
          contribution pursuant to this Section 4.3 on behalf of any Participant
          who is a "part-time
<PAGE>

          regular employee" as defined in an Agreement dated July 23, 1993
          between ComEd and the System Council U-25, I.B.E.W. (the "July 23,
          1993 Agreement"), unless one of the following applies:

                    (1)  the Participant had in effect on July 23, 1993 an
               authorization to make contributions under the Plan as then in
               effect and elected pursuant to the July 23, 1993 Agreement and
               request by ComEd to become a part-time regular employee during
               the initial staffing period that began July 23, 1993 and ended
               December 31, 1993 (the "Initial Staffing Period");

                    (2)  the Participant had in effect on the date the
               Participant became a part-time regular employee an authorization
               to make contributions under the Plan as then in effect and chose
               the Option II Benefits Package as described in the July 23, 1993
               Agreement, as amended;

                    (3)  the Participant had in effect on the date the
               Participant became a part-time regular employee an authorization
               to make contributions under the Plan as then in effect and
               elected pursuant to the July 23, 1993 Agreement, without request
               by ComEd, to become a part-time regular employee during the
               Initial Staffing Period;

                    (4)  the Participant did not have in effect on the date the
               Participant became a part-time regular employee an authorization
               to make contributions under the Plan as then in effect and
               elected pursuant to the July 23, 1993 Agreement and request by
               ComEd to become a part-time regular employee during the Initial
               Staffing Period, provided such Participant has in effect on any
               date after December 24, 1995 and before February 20, 1996 an
               authorization to make contributions under the Plan; or

                    (5)  the Participant did not have in effect on the date the
               Participant became a part-time regular employee an authorization
               to make contributions under the Plan as then in effect and
               elected other than pursuant to the July 23, 1993 Agreement to
               become a part-time regular employee during the Initial Staffing
               Period; provided that such Participant has in effect on any date
               after December 24, 1995 and before February 20, 1996 an
               authorization to make contributions under the Plan.

          3.   Effective January 1, 1996, Section 8.4 of the Plan is hereby
amended (a) by deleting the word "A" that appears in subparagraphs (1) and (3)
thereof and inserting in lieu thereof the phrase "Except as provided in
subparagraph (7), a" and (b) by adding the following new subparagraph (7) at the
end thereof:

                                       2
<PAGE>

               (7)  Distribution in the Case of Leased Employees and Same Desk
                    ----------------------------------------------------------
          Rule. Notwithstanding anything contained herein to the contrary and
          ----
          except as provided below, no distribution shall be made to a
          Participant who has not attained age 59-1/2 until (i) in the case of a
          Participant who ceases to be an Employee but continues to perform
          services as a leased employee (within the meaning of section 414(n)(2)
          of the Code) for an Employer or an Affiliate, the date the Participant
          ceases performing such services (ii) in the case of a Participant who
          ceases to be an Employee but continues to perform services in a
          capacity other than as a leased employee (within the meaning of
          section 414(n)(2) of the Code) for an Employer or an Affiliate, the
          date the Participant ceases performing such services and (iii) in the
          case of a Participant who ceases to be an Employee as a result of a
          sale of assets of an Employer or Affiliate (other than a sale of
          assets described in Treas. Reg. (S)1.401(k)-1(d)(1)(iv)) and, as part
          of such sale, becomes employed by the purchaser of such assets, the
          date the Participant is no longer employed by such purchaser.
          Notwithstanding the preceding sentence, a Participant who ceases to be
          an Employee under the circumstances described in clause (ii) or (iii)
          of the preceding sentence shall be entitled as of the date the
          Participant ceases to be an Employee to receive a distribution from
          such Participant's After-Tax Contributions Account, Employer Matching
          Contributions Account and Rollover Account.  Further notwithstanding
          the preceding sentences, if the Employer of a Participant described in
          the first sentence of this paragraph directly transfers one or all of
          the accounts of such Participant to another qualified plan maintained
          by the Participant's new employer, the Participant shall be entitled
          to a distribution of the transferred accounts in accordance with the
          terms of the transferee plan.  No transfer of any of a Participant's
          accounts shall be made unless the Participant elects, at the time and
          in the manner prescribed by the Committee, to have such accounts so
          transferred and prior to the transfer date, elects to transfer the
          portion of such accounts invested in the Employer Stock Fund to
          another investment fund under the Plan.

          4.   Effective January 1, 1997, subparagraph (2) of the first
paragraph of Section 8.2(b) of the Plan is hereby amended by adding the
following new sentences at the end thereof:

          Notwithstanding the preceding sentence, if a Participant takes an
          authorized unpaid leave of absence from employment with his or her
          Employer, except as may otherwise be agreed by the Participant and his
          or her Employer, loan payments shall be suspended for the period of
          such leave or, if shorter, twelve months from the beginning of such
          leave.  Upon the Participant's return to employment with an Employer
          or an Affiliate or, if shorter, twelve months from the beginning of
          the Participant's leave of absence, loan repayments shall resume in an
          amount that is not less than the amount required under the terms of
          the original loan.  In addition, the Participant's loan shall be fully
          repaid by the end of the repayment period agreed to by the Committee
          and the Participant under the original loan.

                                       3
<PAGE>

          5.   Effective October 1, 1997, the Plan is hereby amended as follows:

          a.   Subdivision (15) of Article 2 of the Plan is hereby amended by
inserting the following sentence after the first sentence contained therein:

          Effective as of September 29, 1997 (the date the collective bargaining
          agreement between ComEd and Local Union 15 of the International
          Brotherhood of Electrical Workers ("Local Union 15") was ratified),
          Local Union 15 shall also be an Employer under the Plan but only with
          respect to Employees the terms of whose employment are subject to a
          collective bargaining agreement which provides for participation in
          this Plan.

          b.   Subdivision (15) of Article 2 of the Plan is hereby further
amended by deleting the phrase "If any such entity" that appears in the last
sentence contained therein and inserting in lieu thereof the phrase "If any
entity described in the first or second sentence above".

          c.   Section 4.3 of the Plan is hereby amended (i) by inserting the
phrase "and the last sentence of the next following paragraph" after the phrase
"and except as provided in the following sentence" that appears in the first
sentence of the first paragraph contained therein and (ii) by inserting the
following new sentence at the end of the second paragraph contained therein:

          Notwithstanding the preceding sentence, in the case of a Participant
          who is an Employee of Local Union 15, (a) Matched Contributions shall
          be determined as if the Participant's chosen rate of Before-Tax
          Contributions and After-Tax Contributions applied to the Compensation
          that would have been payable to such Participant if the Participant
          had remained employed by ComEd ("Deemed Compensation") and (b) the
          amount contributed on behalf of such Participant under the first
          paragraph of this Section 4.3 shall be determined as though the
          Participant's Compensation equals his or her Deemed Compensation.

          d.   Section 8.2(a) of the Plan is hereby amended by inserting the
phrase, "other than a Participant who is an Employee of Local Union 15 and any
such Participant's Beneficiary," after the phrase "any Beneficiary who is a
party-in-interest" contained in the first sentence therein.

                                       4
<PAGE>

                            FIFTH AMENDMENT TO THE
                              COMMONWEALTH EDISON
                     EMPLOYEE SAVINGS AND INVESTMENT PLAN

     The Commonwealth Edison Employee Savings and Investment Plan, as amended
and restated, effective January 1, 1995 and as subsequently amended from time to
time (the "Plan"), is hereby amended as follows:

                                       I

     Article 2 of the Plan is amended, effective June 1, 1998, by deleting the
first sentence of Clause (10) thereof and inserting in lieu thereof the
following new sentence:

     "The normal base pay of an Employee from an Employer for personal services
     rendered, including any salary continuation under a severance benefit plan
     of an Employer (but excluding any salary continuation paid under the Unicom
     Corporation Key Management Severance Plan), any one-time lump sum preferred
     coverage bonus paid under a cafeteria plan described in Section 125 of the
     Code maintained by any Employer, nuclear license premiums for management
     employees and meter readers' bonuses, excluding, however, lump sum payments
     under a severance arrangement of an Employer, bonuses (other than meter
     readers' bonuses), overtime pay, shift premiums, fringe benefits, other
     extraordinary payments and payments made in a form other than cash, but
     without reduction on account of the Employee's election to have his or her
     pay reduced pursuant to a qualified cash or deferred arrangement described
     in Section 401(k) of the Code or a cafeteria plan described in Section 125
     of the Code."

                                      II

     Section 8.1(f) is amended, effective May 3, 1999, to read as follows:

          "(f)  Distributions in Respect of the Employer Stock Fund.  Each
                ---------------------------------------------------
          Participant, any portion of whose account balance is invested in the
          Employer Stock Fund in accordance with Section 7.1(b), shall receive
          from the Plan, a cash dividend distribution equal to the dividends
          paid in respect of the total number of shares of Unicom Corporation
          Common Stock represented by the Participant's proportionate share of
          the Employer Stock Fund as of such date as may be determined from time
          to time by the Committee on or before each dividend record date;
          provided, however, that any such dividend payable with respect to a
          Participant or Beneficiary who is not an employee on the active
          payroll of an Employer in the amount of $10 or less (or such other de
          minimus amount established by the Committee in its sole discretion)
          shall not be distributed but shall be reinvested into the Employer
          Stock Fund."
<PAGE>

                                      III

Except as herein amended, the Plan shall remain in full force and effect.

Executed this __ day of May, 1999.

                                        COMMONWEALTH EDISON COMPANY

                                        By:_______________________________
                                             S. Gary Snodgrass
                                             Senior Vice President
<PAGE>

                            SIXTH AMENDMENT TO THE
                              COMMONWEALTH EDISON
                     EMPLOYEE SAVINGS AND INVESTMENT PLAN

     The Commonwealth Edison Employee Savings and Investment Plan, as amended
and restated, effective January 1, 1995, and as subsequently amended from time
to time (the "Plan"), is hereby further amended, effective April 1, 2000:

                                       I

     Section 4.3 is amended to read as follows:

"Section 4.3.  Employer Matching Contributions.
 ---------------------------------------------

     (a)  Amount of Contributions.  Subject to the limitations set forth in
          -----------------------
          Sections 4.4 (relating to limitations on contributions for highly
          compensated Eligible Employees), 4.5 (relating to the limitations on
          Employer contributions) and 7.4 (relating to limitations on
          allocations imposed by section 415 of the Code), and except as
          otherwise provided below, each Employer shall contribute for each
          payroll period on behalf of each Participant who is an Employee of
          such Employer, the amount specified below:

               (1)  for each Employer other than Unicom Mechanical Services Inc.
                    or any of its subsidiaries that have adopted the Plan, an
                    amount equal to the sum of (x), (y) and (z), where (x) is
                    100 percent of Matched Contributions, as defined below, but
                    only to the extent that Matched Contributions do not exceed
                    2 percent of the Participant's Compensation for the payroll
                    period, (y) is 70 percent of Matched Contributions in excess
                    of 2 percent of the Participant's Compensation but not in
                    excess of 5 percent of the Participant's Compensation for
                    the payroll period, and (z) is 25 percent of Matched
                    Contributions in excess of 5 percent of the Participant's
                    Compensation, but not in excess of 6 percent of the
                    Participant's Compensation for the payroll period; and

               (2)  for Unicom Mechanical Services Inc. and each of its
                    subsidiaries that have adopted the Plan, 25 percent of
                    Matched Contributions, but only to the extent that Matched
                    Contributions do not exceed 8 percent of the Participant's
                    Compensation for the payroll period.

       For purposes of this Section 4.3, "Matched Contributions" means the sum
       of (i) the Before-Tax Contributions made on behalf of the Participant for
       a payroll period, excluding Before-Tax contributions made with respect to
       any one-time lump sum preferred coverage bonus paid under a cafeteria
       plan described in section 125 of the Code maintained by any Employer, and
       (ii) the After-Tax Contributions made by the Participant for such payroll
       period.
<PAGE>

       (b)  Special Part-Time Employees.  Notwithstanding paragraph (a) hereof,
            ---------------------------
       no Employer shall make a contribution pursuant to this Section 4.3 on
       behalf of any Participant who is a "part-time regular employee" as
       defined in an Agreement dated July 23, 1993 between ComEd and the System
       Council U-25, I.B.E.W. (the "July 23, 1993 Agreement"), unless one of the
       following applies:

            (1)  the Participant had in effect on July 23, 1993 an authorization
                 to make contributions under the Plan as then in effect and
                 elected pursuant to the July 23, 1993 Agreement and request by
                 ComEd to become a part-time regular employee during the initial
                 staffing period that began July 23, 1993 and ended December 31,
                 1993 (the "Initial Staffing Period");

            (2)  the Participant had in effect on the date the Participant
                 became a part-time regular employee an authorization to make
                 contributions under the Plan as then in effect and chose the
                 Option II Benefits Package as described in the July 23, 1993
                 Agreement, as amended;

           (3)   the Participant did not have in effect on the date the
                 Participant became a part-time regular employee an
                 authorization to make contributions under the Plan as then in
                 effect and elected pursuant to the July 23, 1993 Agreement and
                 request by ComEd to become a part-time regular employee during
                 the Initial Staffing Period; provided such Participant had in
                 effect on any date after December 24, 1995 and before February
                 20, 1996 an authorization to make contributions under the Plan;
                 or

           (4)   the Participant elected other than pursuant to the July 23,
                 1993 Agreement to become a part-time regular employee during
                 the Initial Staffing Period; provided that such Participant had
                 in effect on any date after December 24, 1995 and before
                 February 20, 1996 an authorization to make contributions under
                 the Plan.

       (c) Time of Delivery of Contributions.  Employer Matching Contributions
           ---------------------------------
       for any Plan Year shall be delivered to the Trustee at the same time the
       Before-Tax contributions or After-Tax Contributions to which such
       Employer Matching Contributions relate are delivered to the Trustee."

                                      II

Except as herein amended, the Plan shall remain in full force and effect.

Executed this ____ day of February, 2000.

COMMONWEALTH EDISON COMPANY

By:_______________________________
        S. Gary Snodgrass
        Sr. Vice President

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