Document:

Exhibit No. 4(c)

 

BALTIMORE GAS AND ELECTRIC COMPANY,

Issuer

 

TO

 

DEUTSCHE BANK TRUST COMPANY AMERICAS,

Trustee

 

 

Supplemental Indenture No. 1

Dated as of October 1, 2009

 

 

Supplemental to the Indenture and Security Agreement

dated as of July 9, 2009

 

 

Amendment

 

 

Supplemental Indenture No. 1

 

Supplemental
Indenture No. 1, dated as of October 1, 2009 made by and between BALTIMORE
GAS AND ELECTRIC COMPANY, a corporation organized and existing under the laws
of the State of Maryland (hereinafter sometimes called the “Company”), and DEUTSCHE
BANK TRUST COMPANY AMERICAS, a banking corporation organized and existing under
the laws of the State of New York (hereinafter sometimes called the “Trustee”),
as Trustee under the Indenture and Security Agreement, dated as of July 9,
2009 (hereinafter called the “Original Indenture”), this Supplemental Indenture
No. 1 being supplemental thereto.  The
Original Indenture and any and all indentures and instruments supplemental
thereto are hereafter sometimes collectively called the “Indenture.”

 

Recitals of the Company

 

As
contemplated by Section 1301(l) of the Original Indenture, the
Company wishes to delete the last paragraph of Section 103 of the Original
Indenture.  This change does not
adversely affect the interests of the Holders of Securities of any series or
Tranche in any material respect because no Securities have been issued under
the Indenture.

 

NOW,
THEREFORE, THIS SUPPLEMENTAL INDENTURE NO. 1 WITNESSETH, that, for and in
consideration of the premises and other good and valuable consideration, it is
mutually covenanted and agreed, as follows:

 

ARTICLE ONE.

 

Amendment

 

SECTION 1.  The last paragraph of Section 103 of the Original Indenture is
hereby deleted.

 

ARTICLE TWO.

 

Miscellaneous Provisions

 

SECTION 1. This Supplemental Indenture No. 1
is a supplement to the Original Indenture. As supplemented by this Supplemental
Indenture No. 1, the Indenture is in all respects ratified, approved and
confirmed, and the Original Indenture and this Supplemental Indenture No. 1
shall together constitute the Indenture.

 

SECTION 2. The recitals contained in this
Supplemental Indenture No. 1 shall be taken as the statements of the
Company, and the Trustee assumes no responsibility for their correctness and
makes no representations as to the validity or sufficiency of this Supplemental
Indenture No. 1.

 

This
instrument may be executed in any number of counterparts, each of which so
executed shall be deemed to be an original, but all such counterparts shall
together constitute but one and the same instrument.

 

2

 

IN
WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture No. 1
to be duly executed as of the day and year first above written.

 

	
   

  	
   

  	
  BALTIMORE GAS AND
  ELECTRIC COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Christopher J.
  Budzynski

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Christopher J.
  Budzynski

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President and
  Treasurer

  
	
   

  	
   

  	
   

  
	
  Executed by Baltimore
  Gas and Electric Company in the presence of:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Sean J. Klein

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Kim Poor

  	
   

  	
   

  

 

3

 

	
   

  	
   

  	
  DEUTSCHE BANK TRUST
  COMPANY AMERICAS

  
	
   

  	
   

  	
   

  	
  as Trustee

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Annie V.
  Jaghatspanyan

  
	
   

  	
   

  	
   

  	
  Name:  Annie V. Jaghatspanyan

  
	
   

  	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  And:

  	
  /s/ Wanda Camacho

  
	
   

  	
   

  	
   

  	
  Name: Wanda Camacho

  
	
   

  	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  
	
  Executed by Deutsche
  Bank Trust Company Americas in the presence of:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   Signature illegible

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Signature illegible

  	
   

  	
   

  

 

4

 

	
  STATE OF MARYLAND

  	
  )

  	
   

  
	
   

  	
  )    SS.:

  	
   

  
	
  CITY/COUNTY OF ANNE
  ARUNDEL

  	
  )

  	
   

  

 

On
this 1st day of October, 2009, before me, a Notary Public within and for said
City/County, personally appeared Christopher J. Budzynski, to me personally
known to be Vice President and Treasurer of BALTIMORE GAS AND ELECTRIC COMPANY,
a Maryland corporation, the corporation which executed the within instrument,
and who, being by me duly sworn, did say that he is Vice President and
Treasurer of BALTIMORE GAS AND ELECTRIC COMPANY, the corporation named in the
foregoing instrument; that said instrument was signed in behalf of said
corporation by authority of its Board of Directors; and said Christopher J.
Budzynski acknowledged to me said instrument to be the free act and deed of
said corporation, and that said corporation executed the same.

 

 

	
   

  	
  /s/ Cathy Lynn Crouse

  
	
   

  	
  Notary Public, State of
  Maryland

  
	
   

  	
  Commission Expires:
  1/1/2010

  

 

5

 

	
  STATE OF NEW YORK

  	
  )

  	
   

  
	
   

  	
  )    ss.:

  	
   

  
	
  COUNTY OF NEW YORK

  	
  )

  	
   

  

 

On
this 2nd day of October, 2009, before me, a notary public, the undersigned
officer, personally appeared Annie V. Jaghatspanyan and Wanda Camacho, each of
whom acknowledges that she is a Vice President of DEUTSCHE BANK TRUST COMPANY
AMERICAS and that she, as such officer, being authorized to do so, executed the
foregoing instrument for the purposes therein contained, by signing the name of
the corporation by herself as such officer.

 

In
witness whereof, I hereunto set my hand and official seal.

 

	
   

  	
  /s/ Michael N.
  Schoenfeld

  
	
   

  	
   

  
	
   

  	
  Notary Public, State of
  New York

  
	
   

  	
  New York County

  
	
   

  	
  Lic. #01SC6179122

  
	
   

  	
  Commission Expires
  12/24/2011

  

 

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  Exhibit 10.1    
    

 
    EnergySolutions, Inc.    
    
    BOARD OF DIRECTORS
  SUMMARY OF COMPENSATION TERMS
  FOR

                                    ("DIRECTOR")    

        The following sets forth the terms of the compensation agreement between the Director and
EnergySolutions, Inc. (the "Company"). 

 

 

			
	Job Title/ Responsibilities:	 	Director shall be a Director on the Board of Directors. Director shall have such responsibilities as are customary for such a position.
	
Term:	
 	
Director's initial term shall continue until the next annual meeting of stockholders of the Company ("Term"). Upon expiration, Director may, if nominated
by the Nominating and Corporate Governance Committee and approved by the Board, stand for reelection.
	
Cash Retainer:	
 	
Director's annual cash retainer ("Cash Retainer") shall be $55,000 which shall constitute full compensation for six Board Meetings per calendar year. For
additional Board Meetings, Director will be paid $1,250 per meeting.
	
Chair Fee:	
 	
Director's annual chair fee for each committee chaired by the Director ("Chair Fee") shall be $10,000. This includes the Lead Independent Director and the
EnergySolutions Foundation Board chair.
	
Committee Meeting Defined	
 	
Committee meeting duration must be at least 30 minutes to constitute a meeting for the purpose of payment of the meeting fee. At the conclusion of each session, the Committee members must validate if
the time spent qualifies as a Committee meeting.
	
Committee Meeting Fee:	
 	
Director's fee per Committee meeting attended of which Director is a member ("Committee Meeting Fee") shall be $1,250. The EnergySolutions Foundation
Board is excluded from the Committee Meeting Fee.
	
Payment of Fees	
 	
One-fourth of the Cash Retainer and Chair Fee shall be paid at the beginning of each calendar quarter. Committee Meeting Fees shall be paid following the meeting for which they are earned.
	
Equity Compensation:	
 	
Director shall be granted an award under the Company's stock incentive plan of shares of the Company's common stock (a "Share Award") on the first day of
the calendar month following Director's election or appointment and each anniversary thereof. The number of shares in each Share Award shall be determined by dividing $75,000 by the average closing price of the Company's common stock during the 30
trading days preceding the date on which the Share Award is granted (the "Grant Date"), rounded to the nearest whole share (with .5 or above rounding up). Shares of "restricted stock" issued pursuant to
the previous Board of Directors Compensation Term Sheet will vest as outlined in such term sheet.
	
Expenses Reimbursement:	
 	
Company shall reimburse Director for all reasonable out-of-pocket expenses incurred in association with Company's meetings.

 

 

 

 

			
	Transoceanic Travel	 	Company shall pay Director an additional $2,000 fee if Director is required to travel across an ocean to attend Board meetings.
	
Minimum Ownership:	
 	
So long as Director serves on the Board of Directors of the Company, Director shall continue to retain the ownership of, and shall not sell, assign, transfer or pledge any of the shares included in any
Share Award (or restricted share award) granted to Director prior to the second anniversary of Director's service on the Board of Directors. Certificates representing such shares will bear a restrictive legend referring to this contractual ownership
restriction.
	
Termination/ Amendment:	
 	
With approval of the Board of Directors, this Summary of Compensation Terms may be terminated or amended at any time, or from time to time, by the Company by written notice to Director.

 

 Agreed
to this          day of                        , 2009. 

ENERGYSOLUTIONS, INC. 

					
	
 By	
 	

    Val John Christensen

    President 	
 	

 
	

DIRECTOR	
 	

 
	

 	
 	

 

QuickLinks

Exhibit 10.1

Energy Solutions , Inc. BOARD OF DIRECTORS SUMMARY OF COMPENSATION TERMS FOR (" DIRECTOR ")

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