Document:

The Consolidated Edison Company of New York, Inc. Executive Incentive Plan

 Exhibit 10.2.5 
 CONSOLIDATED EDISON COMPANY OF NEW YORK, INC. 
 EXECUTIVE INCENTIVE PLAN 
 As Amended and Restated 
 as of
January 1, 2008 

 CONSOLIDATED EDISON COMPANY OF NEW YORK, INC. 
 EXECUTIVE INCENTIVE PLAN 
 PURPOSE

 In its original form, the Consolidated Edison Company of New York, Inc. Executive Incentive Plan (the “Plan”) was effective as of
March 23, 1982. This document reflects the revisions to the Plan which were effective as of April 1, 1999. As to a Participant who was in the employ of the Company or its Affiliated Companies on April 1, 1999, the Mandatory Deferral
Portions and Optional Deferral Portions of Incentive Awards credited on the Participant’s behalf prior to April 1, 1999 and deferred to a date beyond April 1, 1999 were transferred to and are administered under the Deferred Income
Plan. This document also reflects the changes to the Plan that are effective as of August 1, 2000. Effective as of December 31, 2004, no additional Incentive Awards will be made under this Plan. Effective as of January 1, 2008, the
Plan was amended to reflect certain changes required by Section 409A of the Code and the regulations thereunder. 
 The purpose of the Plan is to
provide executives designated by the Company’s Board of Trustees as eligible to participate in the Plan with incentives to achieve goals which are important to shareholders and customers of the Company, to supplement the Company’s salary
and benefit programs so as to provide overall compensation for such executives which is more competitive with corporations with which the Company must compete for the best executive talent, and to assist the Company in attracting and retaining
executives who are important to the continued success of the Company. 

 CONSOLIDATED EDISON COMPANY OF NEW YORK, INC. 
 EXECUTIVE INCENTIVE PLAN 
 TABLE
OF CONTENTS 
  

					
	  	  	 	  	Page
	 ARTICLE I. DEFINITIONS
	  	1
	 1.01
	  	Adjusted Target Incentive Fund	  	1
	 1.02
	  	Affiliated Company	  	1
	 1.03
	  	Award Date	  	1
	 1.04
	  	Board or Board of Trustees	  	1
	 1.05
	  	Change in Control	  	1
	 1.06
	  	Code	  	3
	 1.07
	  	Company	  	3
	 1.08
	  	Deferred Income Plan	  	3
	 1.09
	  	Disability	  	3
	 1.10
	  	Equivalent Stock Account	  	4
	 1.11
	  	Equivalent Stock Unit	  	4
	 1.12
	  	Incentive Award	  	4
	 1.13
	  	Incentive Percentage	  	4
	 1.14
	  	Management Retirement Plan	  	4
	 1.15
	  	Mandatory Deferral Portion	  	4
	 1.16
	  	Target Incentive Fund	  	4
	 1.17
	  	Normal Retirement Age	  	4
	 1.18
	  	Optional Deferral Portion	  	4
	 1.19
	  	Participant	  	4
	 1.20
	  	Plan	  	4
	 1.21
	  	Plan Administrator	  	4
	 1.22
	  	Potential Award	  	4
	 1.23
	  	Potential Change in Control	  	5
	 1.24
	  	Separation from Service	  	5
	 1.25
	  	Section 409A	  	5
	 1.26
	  	Valuation Date	  	5
	 ARTICLE II. ELIGIBILITY
	  	5
	 ARTICLE III. ADMINISTRATION
	  	5
	 ARTICLE IV. DETERMINATION OF AWARDS
	  	6
	 4.01
	  	Incentive Percentages	  	6
	 4.02
	  	Target Incentive Fund	  	6
	 4.03
	  	Adjusted Target Incentive Fund	  	7
	 4.04
	  	Incentive Awards	  	7
	 4.05
	  	No Additional Incentive Awards	  	8
	 ARTICLE V. DEFERRAL OF AWARDS
	  	8
	 5.01
	  	Mandatory Deferral Portion	  	8
	 5.02
	  	Optional Deferral Portion	  	9
	 5.03
	  	Transfer to Deferred Income Plan	  	9
	 ARTICLE VI. VALUATION OF AWARD
	  	10
	 6.01
	  	Non-Deferred Awards	  	10
	 6.02
	  	Equivalent Stock Account	  	10
	 6.03
	  	Common Stock Value	  	11

					
	 ARTICLE VII. PAYMENT OF AWARDS
	  	11
	 7.01
	  	 Time of Payment
	  	11
	 7.02
	  	 Amount of Payment
	  	12
	 7.03
	  	 Manner of Payment
	  	12
	 7.04
	  	 Forfeiture
	  	13
	 7.05
	  	 Posthumous Payments
	  	13
	 7.06
	  	 Payment Upon the Occurrence of a Change in Control
	  	13
	 7.07
	  	 Six-Month Delay for Specified Employees
	  	13
	 ARTICLE VIII. ELECTIONS
	  	14
	 8.01
	  	 Manner
	  	14
	 8.02
	  	 Timing
	  	14
	 8.03
	  	 Presumptions
	  	14
	 ARTICLE IX. MISCELLANEOUS
	  	15
	 9.01
	  	 Amendment and Termination
	  	15
	 9.02
	  	 Effect of Plan
	  	15
	 9.03
	  	 Withholding
	  	15
	 9.04
	  	 Funding
	  	15
	 9.05
	  	 Facility of Payment
	  	16
	 9.06
	  	 Nonalienation
	  	17
	 9.07
	  	 Section 409A
	  	17

 CONSOLIDATED EDISON COMPANY OF NEW YORK, INC. 
 EXECUTIVE INCENTIVE PLAN 
 ARTICLE I.
DEFINITIONS 
 The following terms when capitalized herein shall have the meanings set forth below. 
  

	1.01	Adjusted Target Incentive Fund shall have the meaning set forth in Section 4.03(c). 

  

	1.02	Affiliated Company shall mean any company other than the Company which is a member of a controlled group of corporations (as defined in Section 414(b) of the Code) which
also includes as a member the Company; any trade or business under common control (as defined in Section 414(c) of the Code) with the Company; any organization (whether or not incorporated) which is a member of an affiliated service group (as
defined in Section 414(m) of the Code) which includes the Company; and any other entity required to be aggregated with the Company pursuant to regulations under Section 414(o) of the Code. 

  

	1.03	Award Date shall mean, with respect to any Incentive Award, January 1 of the year following the year to which such Incentive Award relates. 

  

	1.04	Board or Board of Trustees shall mean the Board of Trustees of the Company. 

  

	1.05	Change in Control shall mean the occurrence of any of the following events: 

 (a) any Person or Group acquires stock of the Company that, together with stock held by such Person or Group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Company.
However, if any Person or Group is considered to own more than 50% of the total fair market value or total voting power of the stock of the Company, the acquisition of additional stock by the same Person or Group is not considered to cause a Change
of Control of the Company. An increase in the percentage of stock owned by any Person or Group as a result of a transaction in which the Company acquires its stock in exchange for property will be treated as an acquisition of stock for purposes of
this subsection. This subsection applies only when there is a transfer of stock of the Company (or issuance of stock of the Company) and stock in the Company remains outstanding after the transaction; 
  

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 (b) any Person or Group acquires (or has acquired during the 12-month period ending on the date of the
most recent acquisition by such Person or Group) ownership of stock of the Company possessing 30% or more of the total voting power of the stock of the Company; 
 (c) a majority of members of the Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment
or election; or 
 (d) any Person or Group acquires (or has acquired during the 12-month period ending on the date of the most recent
acquisition by such Person or Group) assets from the Company that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or
acquisitions. For this purpose, gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. However, no Change of
Control shall be deemed to occur under this subsection (d) as a result of a transfer to: 
  

	 	(i)	A shareholder of the Company (immediately before the asset transfer) in exchange for or with respect to its stock; 

  

	 	(ii)	An entity, 50% or more of the total value or voting power of which is owned, directly or indirectly, by the Company; 

  

	 	(iii)	A Person or Group that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding stock of the Company; or 

  

	 	(iv)	An entity, at least 50% of the total value or voting power of which is owned, directly or indirectly, by a person described in clause (iii) above. 

  

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 For these purposes, the term “Person” shall mean an individual, corporation, association, joint stock company,
business trust or other similar organization, partnership, limited liability company, joint venture, trust, unincorporated organization or government or agency, instrumentality or political subdivision thereof (but shall not include the Company, any
underwriter temporarily holding securities pursuant to an offering of such securities, any trustee or other fiduciary holding securities under an employee benefit plan of the Company, or any company owned, directly or indirectly, by the stockholders
of the Company in substantially the same proportions as their ownership of voting stock of the Company). The term “Group” shall have the meaning set forth in Rule 13d-5 of the Securities Exchange Act of 1934, as amended. If any one Person,
or Persons acting as a Group, is considered to effectively control the Company as described in subsections (b) or (c) above, the acquisition of additional control by the same Person or Persons is not considered to cause a Change of
Control. 
  

	1.06	Code shall mean the Internal Revenue Code of 1986, as amended from time to time. 

  

	1.07	Company shall mean Consolidated Edison Company of New York, Inc. or any successor by merger, purchase or otherwise; provided, however, that for purposes of Section 1.05,
Section 1.23, the second paragraph of Section 5.01(b), Section 6.02 (with the exception of the next to last sentence thereof), Section 6.03, and Section 7.06, “Company” shall mean the highest level holding
company of Consolidated Edison Company of New York, Inc. (or any successor thereto which continues this Plan) which has publicly traded common stock 

  

	1.08	Deferred Income Plan shall mean the Consolidated Edison Company of New York, Inc. Deferred Income Plan, as amended from time to time. 

  

	1.09	Disability shall mean the inability of a Participant to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which
can be expected to result in death or can be expected to last for a continuous period of not less than 12 months or (ii) the receipt of income replacement benefits for a period of not less than three months under an accident and health plan
covering employees of the Company by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months. 

 

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	1.10	Equivalent Stock Account shall mean an account established for a Participant pursuant to Section 6.02. 

  

	1.11	Equivalent Stock Unit shall have the meaning set forth in Section 6.02. 

  

	1.12	Incentive Award shall have the meaning set forth in Section 4.04. 

  

	1.13	Incentive Percentage hall have the meaning set forth in Section 4.01. 

  

	1.14	Management Retirement Plan shall mean The Consolidated Edison Retirement Plan, as amended from time to time. 

  

	1.15	Mandatory Deferral Portion shall mean the one-third of each Incentive Award that is required to be deferred pursuant to Section 5.01. 

  

	1.16	Target Incentive Fund shall have the meaning set forth in Section 4.02(a). 

  

	1.17	Normal Retirement Age shall mean the later of the Participant’s 65th birthday or the fifth anniversary of the Participant’s participation in the Management
Retirement Plan, determined in accordance with the terms in effect on January 1, 2008. 

  

	1.18	Optional Deferral Portion shall mean the two-thirds of each Incentive Award that is permitted to be deferred pursuant to Section 5.02. 

  

	1.19	Participant shall mean any executive who at any time shall be eligible to participate in the Plan. 

  

	1.20	Plan shall mean the Consolidated Edison Company of New York, Inc. Executive Incentive Plan, as in effect from time to time. 

  

	1.21	Plan Administrator shall mean the individual appointed by the Company’s Chief Executive Officer to administer the Plan as provided in Article III.

  

	1.22	Potential Award shall have the meaning set forth in Section 4.02(c). 

  

 4 

 1.23 Potential Change in Control shall mean an event which shall occur if: 
  

	 	(a)	the Company enters into a definitive written agreement, the consummation of which would result in the occurrence of a Change in Control; 

  

	 	(b)	the Company or any Person (as defined in Section 1.05(a)) publicly announces an intention to take or to consider taking actions which, if consummated, would constitute a Change
in Control; or 

  

	 	(c)	any Person becomes the beneficial owner (as defined in Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of securities of the Company representing
15 percent or more of the then outstanding shares of Common Stock of the Company or the combined voting power of the Company’s then outstanding securities. 

  

	1.24	Separation from Service shall mean, with respect to a Participant, a “separation from service” as determined under the default provisions in the Treasury Regulation
Section 1.409A-1(h). 

  

	1.25	Section 409A shall mean Section 409A of the Code and the rulings and regulations promulgated thereunder. 

  

	1.26	Valuation Date shall have the meaning set forth in Section 6.01 or 6.02, whichever is applicable. 

 ARTICLE II. ELIGIBILITY 
 The Board, in its discretion, from time to time, may designate and
change the designation of the executives or executive position levels eligible to participate in the Plan. To be eligible to receive an award under the Plan for a particular year, an executive must (a) have been employed by the Company during
any portion of such year and (b) achieve an eligible position level or be designated by the Board as eligible not later than September 30 of such year. 
 ARTICLE III. ADMINISTRATION 
 Except as otherwise provided in the Plan, all determinations in connection with the
Plan shall be made by the Plan Administrator, whose decisions shall be final and conclusive upon all Participants and any persons asserting any claim derived from a Participant. The Plan Administrator shall make such determinations, including,
without limitation, legal and factual determinations, after receiving the recommendations of the Company’s Chief Executive Officer (except as to matters relating to the participation of the Company’s Chief Executive Officer in the Plan,
which decisions will be made by the Board or its designee). The Plan Administrator shall abstain from any determination under the Plan in 

  

 5 

 
which he or she has a personal interest, in which case such determination shall be made by the Company’s Chief Executive Officer. The Plan Administrator
shall be responsible for the administration of the Plan under the direction of the Company’s Chief Executive Officer. 
 ARTICLE IV.
DETERMINATION OF AWARDS 
  

	4.01	Incentive Percentages 

 The Board shall determine a
percentage of annual salary deemed to constitute an appropriate incentive for each executive or executive position level eligible to participate in the Plan. Each such percentage is herein called an “Incentive Percentage”. The Board
may, from time to time, increase or decrease any Incentive Percentage, as the Board may deem appropriate. 
  

	4.02	Target Incentive Fund 

  

	 	(a)	At the end of each year, the annual rate of salary of each executive eligible to participate in the Plan for such year, as such salary is in effect at the end of such year, shall be
multiplied by the Incentive Percentage applicable to such person at such time. The sum of such products for all executives eligible to participate in the Plan for such year is herein called the “Target Incentive Fund” for such year.

  

	 	(b)	For purposes of calculating the Target Incentive Fund for any year: 

 (i) In the case of an executive whose employment with the Company has terminated during the year, the annual salary rate of such executive in effect at the time of such termination shall be deemed to be the annual
salary rate of such executive at the end of such year. 
 (ii) Deferred compensation, at the annual rate in effect at the end
of the year pursuant to an agreement between the Company and an executive, shall be considered part of such executive’s annual rate of salary at the end of such year. 
 (iii) An executive’s annual rate of salary shall be determined without any deduction for pre-tax contributions or after-tax
contributions made pursuant to the Consolidated Edison Thrift Savings Plan, the Con Edison Flexible Reimbursement Account Plan for Management Employees, the Consolidated Edison Company of New York, Inc. Management Plan Option, or the Deferred Income
Plan. 
  

	 	(c)	The amount included in the Target Incentive Fund for any year with respect to each executive is called such executive’s “Potential Award”.

  

 6 

	4.03	Adjusted Target Incentive Fund 

  

	 	(a)	In January of each year, the Board shall determine whether award of the Target Incentive Fund for the preceding year is appropriate or whether and to what extent such Target
Incentive Fund shall be reduced, eliminated entirely, or increased. The Board may increase the Target Incentive Fund by an amount not to exceed 50 percent of the Target Incentive Fund. In making such determination, the Board shall consider the
Company’s performance during the preceding year, taking into account such factors as the Board deems relevant. 

  

	 	(b)	Notwithstanding any other provision to the contrary, the Target Incentive Fund for any year in which the Company omits a dividend on its common stock shall be reduced to zero.

  

	 	(c)	The Target Incentive Fund for a year, as adjusted pursuant to this Section 4.03, is herein called the “Adjusted Target Incentive Fund”.

  

	4.04	Incentive Awards 

 After the Adjusted Target
Incentive Fund for a year has been determined as provided in Section 4.03, the Management Development and Compensation Committee of the Board, upon the recommendations of the Company’s Chief Executive Officer (except with respect to his
own award), shall make, subject to confirmation by the Board, awards to individual Participants who are eligible to participate in the Plan for such year. Such awards are herein called “Incentive Awards”. Incentive Awards shall be
determined in the following manner: 
  

	 	(a)	Each Incentive Award shall be determined in the light of the contribution of the Participant’s group to the overall performance of the Company, the Participant’s
contribution to the performance of the Participant’s group, and the Participant’s individual performance. 

  

 7 

	 	(b)	An Incentive Award may range from zero to 150 percent of the Participant’s Potential Award for the year in question. 

  

	 	(c)	The aggregate of all Incentive Awards for a year may not exceed the Adjusted Target Incentive Fund for such year. 

  

	4.05	No Additional Incentive Awards 

 Effective as of
December 31, 2004, no additional Incentive Awards will be made under the Plan. 
 ARTICLE V. DEFERRAL OF AWARDS 
  

	5.01	Mandatory Deferral Portion 

  

	 	(a)	One-third of each Incentive Award shall be allocated to the Participant’s Equivalent Stock Account and shall be deferred until the earlier of (i) the fifth anniversary of
the Award Date or (ii) the date of the Participant’s Separation from Service with the Company and Affiliated Companies, except as otherwise provided in Section 7.06. 

  

	 	(b)	Notwithstanding the provisions of paragraph (a) above, the Participant may elect no later than the last day of the second calendar year prior to the calendar year in which the
Award Date occurs, to defer all or any part of such one-third portion for a further period ending on the earlier of (i) the sixth or any later anniversary of the Award Date or (ii) the date of the Participant’s Separation from Service
with the Company and Affiliated Companies; provided, however, that if the Participant makes a deferral election with respect to any portion of the Mandatory Deferral Portion of an Incentive Award pursuant to this paragraph (b), on the
fifth anniversary of the Award Date of such Incentive Award, the value of the portion of the Mandatory Deferral Portion of an Incentive Award so deferred shall be administered and accounted for under the Deferred Income Plan.

  

 8 

 The value of such Mandatory Deferral Portion or part thereof to be administered and accounted for under
the Deferred Income Plan shall be the value on the fifth anniversary of the Award Date of such Mandatory Deferral Portion of a number of shares of common stock of the Company equal to the number of Equivalent Stock Units in the respective subaccount
for the Mandatory Deferral Portion or part thereof to be administered and accounted for under the Deferral Income Plan. 
  

	5.02	Optional Deferral Portion 

 Up to two-thirds of each
Incentive Award may, at the Participant’s election, no later than the last day of the second calendar year prior to the calendar year in which the Award Date occurs, be deferred to the earlier of (a) the third or later anniversary of the
Award Date of such Incentive Award, or (b) the date of the Participant’s Separation from Service with the Company and Affiliated Companies; provided, however, that if the Participant makes a deferral election with respect to
any portion of the Optional Deferral Portion of an Incentive Award pursuant to this Section 5.02, on the Award Date of such Incentive Award the value of the portion of the Optional Deferral Portion so deferred shall be administered and
accounted for under the Deferred Income Plan. 
  

	5.03	Transfer to Deferred Income Plan 

 The portion of a
Participant’s accounts deferred hereunder prior to April 1, 1999, which are no longer subject to potential forfeiture pursuant to Section 7.04 as of such date, shall be transferred to the Deferred Income Plan and thereafter be
administered and accounted for thereunder. As of the date that other amounts deferred hereunder prior to April 1, 1999 are no longer subject to potential forfeiture pursuant to Section 7.04, such amounts shall be transferred to the
Deferred Income Plan and thereafter be administered and accounted for thereunder. 
  

 9 

 ARTICLE VI. VALUATION OF AWARD 
  

	6.01	Non-Deferred Awards 

 The Valuation Date of any
portion of the Optional Deferral Portion of an Incentive Award that is not deferred pursuant to Section 5.02 shall be the Award Date, and the value on the Valuation Date shall be equal to the amount of such portion. 
  

	6.02	Equivalent Stock Account 

 An Equivalent Stock
Account shall be established for each Participant. A separate subaccount within such Equivalent Stock Account shall be established for each Mandatory Deferral Portion allocated to such Equivalent Stock Account. Each Mandatory Deferral Portion so
allocated shall be converted to a number of Equivalent Stock Units calculated (to the nearest thousandth) by dividing (x) such portion by (y) the value of one share of the Company’s common stock on the Award Date, and the number of
Equivalent Stock Units so calculated shall be credited to the respective subaccount within the Participant’s Equivalent Stock Account. On each dividend payment date for the Company’s common stock occurring between the Award Date and the
Valuation Date of such Mandatory Deferral Portion, there shall be credited to such subaccount the number of additional Equivalent Stock Units calculated (to the nearest thousandth) by dividing (x) the amount of the total dividend which would
have been paid on a number of shares (including fractional shares) of the Company’s common stock equal to the closing balance (in Equivalent Stock Units) in such subaccount on the record date for such dividend payment date, by (y) the
value of one share of the Company’s common stock on the dividend payment date. In the event of a dividend payable in shares of the Company’s common stock, a like number of Equivalent Stock Units shall be added to the subaccount. The
Valuation Date of such Mandatory Deferral Portion of an Incentive Award shall be the date on which occurs the earliest of: 
  

	 	(a)	the Participant’s Separation from Service with the Company and Affiliated Companies on or after the Participant’s Normal Retirement Age; 

  

 10 

	 	(b)	the Participant’s death; 

  

	 	(c)	the Participant’s Disability; or 

  

	 	(d)	the fifth anniversary of the Award Date of such Incentive Award if the Participant has not incurred a Separation from Service with the Company and Affiliated Companies on or prior
to such date; 

 provided, however, that if the Participant’s date of Separation from Service with the
Company and Affiliated Companies occurs prior to the earliest of the dates specified in (a) through (d) above but the Chief Executive Officer of the Company makes a determination pursuant to Section 7.04 that no forfeiture shall
occur, the Valuation Date shall be such date of Separation from Service. The value of such Mandatory Deferral Portion on the Valuation Date shall be the value, on the Valuation Date, of a number of shares of the Company’s common stock equal to
the number of Equivalent Stock Units in the respective subaccount on the Valuation Date. 
  

	6.03	Common Stock Value 

 For all purposes of the Plan,
the value of a share of the Company’s common stock, as of any date, shall be deemed to be the mean of the high and low sale price for such a share reported on the New York Stock Exchange for trading on such date (or, if there was no reported
trade for such date, on the first day of trading thereafter). Appropriate adjustments shall be made in the event of a stock split, reclassification or reorganization. 
 ARTICLE VII. PAYMENT OF AWARDS 
  

	7.01	Time of Payment 

  

	 	(a)	 Each portion of a Mandatory Deferral Portion of an Incentive Award (i) for which the deferral election in Section 5.01(b) has not been made, or
(ii) for which such deferral election has been made and the Participant (A) does not incur a Separation from Service with the Company and Affiliated Companies until on or after the earliest of the dates specified in (a) through
(d) of Section 6.02 or (B) incurs a Separation from Service with 

  

 11 

	 	 
the Company and Affiliated Companies prior to the earliest of the dates specified in (a) through (d) of Section 6.02 but the Chief Executive
Officer of the Company makes a determination pursuant to Section 7.04 that no forfeiture shall be made, shall become payable within 60 days after its respective Valuation Date, solely with respect to amounts for which a deferral election has
been made under Section 5.01(b), to the extent such amounts have not been previously transferred to the Deferred Income Plan. 

  

	 	(b)	Each portion of an Optional Deferral Portion for which a deferral election under Section 5.02 has not been made shall become payable within 60 days after its respective
Valuation Date, as provided in this Article VII. 

  

	7.02	Amount of Payment 

 Each portion of (a) the
Mandatory Deferral Portion of an Incentive Award (i) for which the deferral election in Section 5.01(b) has not been made, or (ii) for which such deferral election has been made and the Participant (A) does not incurs a
Separation from Service with the Company and Affiliated Companies until on or after the earliest of the dates specified in (a) through (d) of Section 6.02 or (B) incurs a Separation from Service with the Company and Affiliated
Companies prior to the earliest of the dates specified in (a) through (d) of Section 6.02 but the Chief Executive Officer of the Company makes a determination pursuant to Section 7.04 that no forfeiture shall be made, and
(b) an Optional Deferral Portion for which a deferral election under Section 5.02 has not been made, shall be paid at its value on the Valuation Date, as determined pursuant to Article VI. 
  

	7.03	Manner of Payment 

  

	 	(a)	Any portion of the Mandatory Deferral Portion of an Incentive Award which becomes payable on or prior to the fifth anniversary of the Award Date of such Incentive Award shall be
paid to the Participant in a single lump sum. 

  

	 	(b)	Any portion of the Optional Deferral Portion of an Incentive Award for which a deferral election under Section 5.02 has not been made shall be paid to the Participant in a
single lump sum. 

  

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	7.04	Forfeiture 

 Unless the Chief Executive Officer of
the Company shall otherwise determine, the Mandatory Deferral Portion of an Incentive Award shall be forfeited, and no amount shall be payable to the Participant in respect of such portion, if the Participant incurs a Separation from Service with
the Company and Affiliated Companies, other than on or after the Participant’s Normal Retirement Age or by reason of death or Disability, prior to the fifth anniversary of the Award Date of such Incentive Award. Notwithstanding the prior
sentence, no forfeiture shall occur after the date a Change in Control occurs. 
  

	7.05	Posthumous Payments 

 Subject to Sections 7.04
and 9.05, if a Participant shall die before all payments to be made to the Participant under this Plan have been made, the remaining payment or payments shall be made to the Participant’s estate or personal representative in a single lump sum,
with such posthumous payment to be made within 60 days after the Participant’s death. 
  

	7.06	Payment Upon the Occurrence of a Change in Control 

 Upon the occurrence of a Change in Control, the Participant shall automatically receive the value, as of the date the Change in Control occurs, of a number of shares of common stock of the Company equal to the number of Equivalent Stock
Units in the respective subaccount as of the date the Change in Control occurs. Such payment will be made in a single lump sum within 60 days after the date the Change in Control occurs. 
  

	7.07	Six-Month Delay for Specified Employees 

 Notwithstanding anything herein to the contrary, if a Participant is a “Specified Employee” for purposes of Section 409A, determined under the Company’s established methodology for determining specified employees,
on the date on which such Participant incurs a 

  

 13 

 
Separation from Service, any payment hereunder (including any provision or continued benefits) that is deemed to be a “deferral of compensation”
subject to Section 409A shall be paid on the fifteenth business day after the date that is six months following the Participant’s Separation from Service; provided, however, that a payment delayed pursuant to this clause
shall commence earlier in the event of a Participant’s death prior to the end of the six-month period. 
 ARTICLE VIII. ELECTIONS 

  

	8.01	Manner 

 The elections permitted to Participants by
Section 5.01 and Section 5.02 shall be made electronically or in writing signed by the Participant and delivered to the Plan Administrator. A separate election may be made with respect to each Incentive Award. An election made for any
Incentive Award shall govern all subsequent Incentive Awards, unless a new election is timely made as to subsequent Incentive Awards. 
  

	8.02	Timing 

 The elections pursuant to Section 5.01
and Section 5.02 with respect to any Incentive Award must be made no later than the last day of the second calendar year prior to the calendar year in which the Award Date occurs. An election may be changed at any time up to the deadline for
making such election, but not thereafter. 
  

	8.03	Presumptions 

 In the absence of a valid election to
the contrary by the Participant, the following presumptions shall apply: 
  

	 	(a)	The Participant elects not to defer any portion of the Mandatory Deferral Portion of an Incentive Award pursuant to Section 5.01 beyond the minimum mandatory deferral.

  

	 	(b)	The Participant elects not to defer any portion of the Optional Deferral Portion of an Incentive Award pursuant to Section 5.02. 

  

 14 

 ARTICLE IX. MISCELLANEOUS 
  

	9.01	Amendment and Termination 

 The Company reserves the
right, by action of the Board of Trustees, to terminate the Plan entirely, or to temporarily or permanently discontinue the making of awards under the Plan; and further reserves the right, by action of the Board of Trustees or the Plan
Administrator, to otherwise modify the Plan from time to time; provided that no such modification, termination, or discontinuance shall adversely affect the rights of Participants with respect to Incentive Awards previously determined; and provided
further, that no modification by action of the Plan Administrator shall have a material effect on the benefits payable under the Plan. Upon termination of the Plan, the Board of Trustees may elect to continue the Plan with respect to deferred
portions of Incentive Awards, or may elect to distribute immediately such deferred portions in single lump sum payments, with appropriate adjustments in valuation, as determined by the Board to the extent permitted by Section 409A. 

 

	9.02	Effect of Plan 

 The establishment and continuance
of the Plan shall not constitute a contract of employment between the Company and any employee. No person shall have any claim to be granted an award under the Plan and there is no obligation for uniformity of treatment of employees or Participants
under the Plan. Neither the Plan nor any action taken under the Plan shall be construed as giving to any employees the right to be retained in the employ of the Company, nor any right to examine the books of the Company, or to require an accounting.

  

	9.03	Withholding 

 The Company shall deduct from any
payment under the Plan any federal, state, or local taxes required by law to be withheld with respect to such payment. 
  

 15 

	9.04	Funding 

  

	 	(a)	All amounts payable in accordance with this Plan shall constitute a general unsecured obligation of the Company. Such amounts, as well as any administrative costs relating to the
Plan, shall be paid out of the general assets of the Company, to the extent not paid from the assets of any trust established pursuant to paragraph (b) below. 

  

	 	(b)	The Company may, for administrative reasons, establish a grantor trust for the benefit of Participants in the Plan. Notwithstanding the foregoing sentence, the Company shall, upon a
Potential Change in Control, establish a grantor trust for the benefit of the Participants in the Plan and shall fund such trust at a level at least equal to the liabilities of the Plan as of the day before the Potential Change in Control occurred.
The assets placed in such trust shall be held [separate and apart from other Company funds] and shall be used exclusively for the purposes set forth in the Plan and the applicable trust agreement, subject to the following conditions:

 (i) the creation of such trust shall not cause the Plan to be other than “unfunded” for purposes of
Title I of ERISA; 
 (ii) the Company shall be treated as “grantor” of such trust for purposes of
Section 677 of the Code; 
 (iii) the agreement of such trust shall provide that its assets may be used upon the
insolvency or bankruptcy of the Company to satisfy claims of the Company’s general creditors and that the rights of such general creditors are enforceable by them under federal and state law, and 
 (iv) the establishment, operation and funding of the trust shall comply with applicable law, including, without limitation,
Section 409A. 
  

	9.05	Facility of Payment 

 In the event that the Plan
Administrator shall find that a Participant is unable to care for such Participant’s affairs because of illness or accident or because he or she is a minor or has died, the Plan Administrator may, unless claim shall have been made therefor by a
duly appointed legal representative, direct that any benefit payment due the Participant, to the extent not payable from a grantor trust, be paid on the Participant’s behalf to the Participant’s spouse, a child, a parent or other blood
relative, or to a person with whom the Participant resides or a legal guardian, and any such payment so made shall be a complete discharge of the liabilities of the Company and the Plan therefor. 
  

 16 

	9.06	Nonalienation 

 Subject to any applicable law, no
benefit under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, and any attempt to do so shall be void, nor shall any such benefit be in any manner liable for or subject
to garnishment, attachment, execution or levy, or liable for or subject to the debts, contracts, liabilities, engagements or torts of the person entitled to such benefits. 
  

	9.07	Section 409A 

 This Plan is intended to satisfy
the applicable requirements of Section 409A and shall be performed and interpreted consistent with such intent. If the Plan Administrator determines in good faith that any provision of this Plan does not satisfy such requirements or could
otherwise cause any person to recognize additional taxes, penalties or interest under Section 409A, the Plan Administrator will modify, to the maximum extent practicable, the original intent of the applicable provision without violation of the
requirements of Section 409A (“Section 409A Compliance”), and, notwithstanding any provision herein to the contrary, the Plan Administrator shall have broad authority to amend or to modify the Plan, without advance notice to or
consent by any person, to the extent necessary or desirable to ensure Section 409A Compliance. Any determination by the Plan Administrator shall be final and binding on all parties. 
  

 17The Consolidated Edison Company of NY, Inc. Supplemental Retirement Income Plan

 Exhibit 10.2.6 
 CONSOLIDATED EDISON COMPANY OF NEW YORK, INC. 
 SUPPLEMENTAL RETIREMENT INCOME PLAN 

Effective as of January 1, 1987 
 As Amended and Restated as of January 1, 1999 
 As Amended and Restated Effective as of January 1, 2008 

 TABLE OF CONTENTS 
  

					
	 Article I. DEFINITIONS
	  	2
			
	 1.01
	  	75 Points	  	2
	 1.02
	  	Accrued Basic Retirement Allowance	  	2
	 1.03
	  	Actuarial Equivalent	  	3
	 1.04
	  	Affiliated Company	  	3
	 1.05
	  	Annual Basic Straight Time Compensation	  	3
	 1.06
	  	Annual Compensation	  	3
	 1.07
	  	Annuity Payment Form	  	3
	 1.08
	  	Basic Salary Deferrals	  	4
	 1.09
	  	Beneficiary	  	4
	 1.10
	  	Benefit	  	4
	 1.11
	  	Benefit Commencement Date	  	4
	 1.12
	  	Board of Trustees	  	4
	 1.13
	  	Cash Balance Account	  	4
	 1.14
	  	Cash Balance Formula Participant	  	4
	 1.15
	  	Cash Balance Single Sum Payment	  	5
	 1.16
	  	Cash Out	  	5
	 1.17
	  	CEI Participant	  	5
	 1.18
	  	Change of Control	  	5
	 1.19
	  	Code	  	7
	 1.20
	  	Committee	  	7
	 1.21
	  	Company	  	7
	 1.22
	  	Company Non Account Plan	  	7
	 1.23
	  	Default Payment Form	  	8
	 1.24
	  	Deferred Income Plan	  	8
	 1.25
	  	Disability	  	8
	 1.26
	  	Domestic Partner	  	8
	 1.27
	  	Elected Payment Date	  	8
	 1.28
	  	Elected Payment Form	  	8
	 1.29
	  	Eligible Employee	  	8
	 1.30
	  	ERISA	  	8
	 1.31
	  	Excess Benefit Portion	  	9
	 1.32
	  	Executive Incentive Plan	  	9
	 1.33
	  	Incentive Award	  	9
	 1.34
	  	Joint and 50% Survivor Annuity	  	9
	 1.35
	  	Joint and 75% Survivor Annuity	  	9
	 1.36
	  	Joint and 100% Survivor Annuity	  	9
	 1.37
	  	Mandatory Deferral Portion	  	9
	 1.38
	  	Normal Payment Date	  	9
	 1.39
	  	Normal Retirement Date	  	9
	 1.40
	  	Participant	  	10
	 1.41
	  	Participating Company	  	10
	 1.42
	  	Pension Allowance	  	10
	 1.43
	  	Payment Form	  	10
	 1.44
	  	Plan	  	10
	 1.45
	  	Plan Administrator	  	10
	 1.46
	  	Plan Year	  	10

  

 i 

					
	 1.47
	  	Retirement Plan	  	10
	 1.48
	  	Section 409A	  	10
	 1.49
	  	Select Management Portion	  	10
	 1.50
	  	Separation from Service	  	11
	 1.51
	  	Single Life Annuity	  	11
	 1.52
	  	Specified Employee	  	11
	 1.53
	  	Supplemental Salary Deferrals	  	11
	 1.54
	  	Surviving Spouse	  	11
	 1.55
	  	Traditional Formula Participant	  	11
	 1.56
	  	Transition Election	  	12
	 1.57
	  	Twelve Year Certain and Life Option	  	12
	 1.58
	  	2005 EIP	  	12
	 1.59
	  	Years of Accredited Service	  	12
		
	 Article II. PARTICIPATION; AMOUNT AND PAYMENT OF BENEFITS
	  	12
			
	 2.01
	  	Participation	  	12
	 2.02
	  	Amount of Benefits	  	13
	 2.03
	  	Vesting	  	16
	 2.04
	  	Payment of Benefits	  	16
	 2.05
	  	Death Prior to a Participant’s Payment Date	  	19
	 2.06
	  	Reemployment of Former Participant	  	21
	 2.07
	  	Additional Benefits	  	22
	 2.08
	  	Transfer to Affiliated Company	  	22
	 2.09
	  	Payment of De Minimis Amounts	  	22
	 2.10
	  	Six-Month Delay in Commencement of Benefits	  	23
		
	 Article III. GENERAL PROVISIONS
	  	24
			
	 3.01
	  	Funding	  	24
	 3.02
	  	Discontinuance and Amendment	  	25
	 3.03
	  	Termination of Plan	  	25
	 3.04
	  	Plan Not a Contract of Employment	  	26
	 3.05
	  	Facility of Payment	  	26
	 3.06
	  	Withholding Taxes	  	27
	 3.07
	  	Section 409A	  	27
	 3.08
	  	Nonalienation	  	27
	 3.09
	  	Assumption of Liabilities	  	28
	 3.10
	  	Claims and Review Procedure	  	28
	 3.11
	  	Construction	  	30
		
	 Article IV. PLAN ADMINISTRATION
	  	31
			
	 4.01
	  	Responsibility for Benefit Determination	  	31
	 4.02
	  	Duties of Plan Administrator	  	31
	 4.03
	  	Procedure for Payment of Benefits Under the Plan	  	32
	 4.04
	  	Additional Participating Companies	  	32

  

 ii 

 CONSOLIDATED EDISON COMPANY OF NEW YORK, INC. 
 SUPPLEMENTAL RETIREMENT INCOME PLAN 
 PURPOSE 
 The Con Edison Supplemental Retirement Income Plan was established effective as of January 1, 1987. Effective
as of January 1, 1999, the Con Edison Supplemental Retirement Income Plan was amended and restated in its entirety and renamed the Consolidated Edison Company of New York, Inc. Supplemental Retirement Income Plan (the “Plan”).
Effective as of January 1, 2008, the Plan was amended and restated to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). No portion of the benefits accrued under
this Plan prior to January 1, 2005 shall be “grandfathered” for purposes of Section 409A of the Code. 
 The purpose of
the Plan is to provide those employees participating in The Consolidated Edison Retirement Plan or any successor plan thereto (the “Retirement Plan”) benefits which would have been payable under the Retirement Plan (i) but for
the limitations imposed on qualified plans by Code Sections 401(a)(17) and 415 and (ii) if certain portions of Incentive Awards under the Consolidated Edison Company of New York, Inc. Executive Incentive Plan and the 2005 Consolidated Edison
Company of New York, Inc. Executive Incentive Plan (as applicable) and Basic and Supplemental Salary Deferrals under the Consolidated Edison Company of New York, Inc. Deferred Income Plan were included in pensionable earnings under the Retirement
Plan. 
  

 1 

 The inclusion of portions of Incentive Awards in pensionable earnings shall be effective as of
January 1, 1997, and only with respect to Participants who retire under the Retirement Plan on or after January 1, 1997. 
 All
benefits payable under this Plan, which is intended to constitute both an unfunded excess benefit plan under Section 3(36) of Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and a
nonqualified, unfunded deferred compensation plan for a select group of management or highly compensated employees under Title I of ERISA, shall be paid out of the general assets of the Company. The Company may establish a trust in order to aid it
in providing benefits due under the Plan. 
 ARTICLE I. 
 DEFINITIONS 
 The following terms when capitalized herein shall have the meanings assigned below.

 1.01 75 Points shall mean, with respect to a Traditional Formula Participant, when the sum of such
Participant’s attained age, plus completed Years of Accredited Service (each rounded to the nearest whole number) equals or exceeds 75 at any time. 
 1.02 Accrued Basic Retirement Allowance shall mean the Pension Allowance, as determined in accordance with the Retirement Plan;
provided, however, that the Accrued Basic Retirement Allowance shall be determined as a single life annuity payable on a Participant’s Normal Retirement Date, regardless of the form of payment of his or her Pension Allowance under
the Retirement Plan. 
  

 2 

 1.03 Actuarial Equivalent shall, for purposes of determining a Benefit under the
Plan, be determined using the same actuarial assumptions, adjustments and factors as would be applied under the Retirement Plan for the purpose of determining the actuarial equivalent value of similar benefits under the Retirement Plan as of the
date of the Participant’s Separation from Service; provided, however, that (i) the actuarial equivalent factors used to calculate the Twelve-Year Certain and Life Option shall be the actuarial equivalent factors for the
Twelve-Year Certain and Life Option applicable to CEI Participants and (ii) for purposes of Section 2.05(a), the actuarial equivalent factors used to calculate death benefits shall be further subject to the actuarial assumptions,
adjustments and factors set forth in Annex A hereto. 
 1.04 Affiliated Company shall mean any company other than the
Company which is a member of a controlled group of corporations (as defined in Section 414(b) of the Code) which also includes as a member the Company; any trade or business under common control (as defined in Section 414(c) of the Code)
with the Company; any organization (whether or not incorporated) which is a member of an affiliated service group (as defined in Section 414(m) of the Code) which includes the Company; and any other entity required to be aggregated with the
Company pursuant to regulations under Section 414(o) of the Code. 
 1.05 Annual Basic Straight Time Compensation
shall have the meaning set forth in the Retirement Plan. 
 1.06 Annual Compensation shall have the meaning set forth
in the Retirement Plan. 
 1.07 Annuity Payment Form shall have the meaning set forth in Section 2.04(e) hereof.

  

 3 

 1.08 Basic Salary Deferrals shall mean “Basic Salary Deferrals”, as that
term is defined in the Deferred Income Plan. 
 1.09 Beneficiary shall mean the person designated by a Participant on a
beneficiary designation form provided by the Plan Administrator to receive payments under this Plan in the event of the Participant’s death; provided, however, if the Participant fails to make a valid election on such beneficiary
designation form, the person determined in accordance with the provisions of the Retirement Plan to receive pension benefits under the Retirement Plan after a Participant’s death, such determination to be made without regard to the provisions
of any qualified domestic relations order, as defined in Section 414(p) of the Code, applicable to the Retirement Plan. 
 1.10 Benefit shall mean, subject to Section 2.03, the benefit payable to a Participant or his Beneficiary under Article II of the Plan. 
 1.11 Benefit Commencement Date shall mean, unless the Plan expressly provides otherwise, a Participant’s Elected Payment Date
or Normal Payment Date, as applicable. The Benefit Commencement Date under the Plan is determined without regard to any delay in payment pursuant to Section 2.10. 
 1.12 Board of Trustees shall mean the Board of Trustees of Consolidated Edison Company of New York, Inc. or any successor thereto.

 1.13 Cash Balance Account shall have the meaning set forth in the Retirement Plan. 
 1.14 Cash Balance Formula Participant shall mean a Participant who is subject to the Cash Balance Formula under the Retirement
Plan. 
  

 4 

 1.15 Cash Balance Single Sum Payment shall have the meaning set forth in the
Retirement Plan. 
 1.16 Cash Out shall have the meaning set forth in the Retirement Plan. 
 1.17 CEI Participant shall have the meaning set forth in the Retirement Plan. 
 1.18 Change of Control shall mean the occurrence of any of the following events: 
 (a) any Person or Group acquires stock of the Company that, together with stock held by such Person or Group, constitutes more than 50% of the total fair
market value or total voting power of the stock of the Company. However, if any Person or Group is considered to own more than 50% of the total fair market value or total voting power of the stock of the Company, the acquisition of additional stock
by the same Person or Group is not considered to cause a Change of Control of the Company. An increase in the percentage of stock owned by any Person or Group as a result of a transaction in which the Company acquires its stock in exchange for
property will be treated as an acquisition of stock for purposes of this subsection. This subsection applies only when there is a transfer of stock of the Company (or issuance of stock of the Company) and stock in the Company remains outstanding
after the transaction; 
 (b) any Person or Group acquires (or has acquired during the 12-month period ending on the date of the most recent
acquisition by such Person or Group) ownership of stock of the Company possessing 30% or more of the total voting power of the stock of the Company; 
  

 5 

 (c) a majority of members of the Board of Directors of CEI is replaced during any 12-month period by
directors whose appointment or election is not endorsed by a majority of the members of the Board of Directors of CEI prior to the date of the appointment or election; or 
 (d) any Person or Group acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such Person or Group) assets from the Company that have a total gross fair market value
equal to or more than 40% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions. For this purpose, gross fair market value means the value of the assets of the Company, or the
value of the assets being disposed of, determined without regard to any liabilities associated with such assets. However, no Change of Control shall be deemed to occur under this subsection (d) as a result of a transfer to: 
  

	 	(i)	A shareholder of the Company (immediately before the asset transfer) in exchange for or with respect to its stock; 

  

	 	(ii)	An entity, 50% or more of the total value or voting power of which is owned, directly or indirectly, by the Company; 

  

	 	(iii)	A Person or Group that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding stock of the Company; or 

  

	 	(iv)	An entity, at least 50% of the total value or voting power of which is owned, directly or indirectly, by a person described in clause (iii) above. 

  

 6 

 For these purposes, the term “Person” shall mean an individual, corporation, association, joint
stock company, business trust or other similar organization, partnership, limited liability company, joint venture, trust, unincorporated organization or government or agency, instrumentality or political subdivision thereof (but shall not include
the Company, any underwriter temporarily holding securities pursuant to an offering of such securities, any trustee or other fiduciary holding securities under an employee benefit plan of the Company, or any company owned, directly or indirectly, by
the stockholders of the Company in substantially the same proportions as their ownership of voting stock of the Company). The term “Group” shall have the meaning set forth in Rule 13d-5 of the Securities Exchange Act of 1934, as amended.
If any one Person, or Persons acting as a Group, is considered to effectively control the Company as described in subsections (b) or (c) above, the acquisition of additional control by the same Person or Persons is not considered to cause
a Change of Control. 
 1.19 Code shall mean the Internal Revenue Code of 1986, as amended from time to time.

 1.20 Committee shall mean the Management Development and Compensation Committee of the Board of Trustees.

 1.21 Company shall mean Consolidated Edison Company of New York, Inc. or any successor thereto by merger, purchase
or otherwise; provided, however, that for purposes of Section 1.18, “Company” shall mean the highest level holding company of Consolidated Edison Company of New York, Inc. (or any successor thereto which continues this
Plan) which has publicly traded common stock. 
 1.22 Company Non Account Plan means any arrangement sponsored by the
Company or an Affiliated Company, other than the Plan, that is a “non account balance plan,” as such term is defined under Section 409A. 
  

 7 

 1.23 Default Payment Form shall mean (i) with respect to a Traditional
Formula Participant who has attained 75 Points, the Joint and 50% Survivor Annuity or the Single Life Annuity (as applicable), (ii) with respect to a Traditional Formula Participant who has not attained 75 Points, the Cash-Out Option, and
(iii) with respect to a Cash Balance Formula Participant, the Cash Balance Single Sum Payment. 
 1.24 Deferred Income
Plan shall mean the Consolidated Edison Company of New York, Inc. Deferred Income Plan, as amended from time to time. 
 1.25 Disability shall have the meaning as defined in the Retirement Plan. 
 1.26 Domestic Partner
shall have the meaning set forth in the Retirement Plan. 
 1.27 Elected Payment Date shall mean the fifteenth day of
the next month following the payment date elected by a Participant pursuant to Section 2.04(a). 
 1.28 Elected
Payment Form shall mean the Payment Form elected by a Participant in accordance with Section 2.04(c). 
 1.29
Eligible Employee shall mean any (A) (i) officer or employee employed by the Company or a Participating Company whose terms and conditions of employment are not subject to a collective bargaining agreement and (ii) who is
participating in the Retirement Plan or (B) other officer or employee of the Company or an Affiliated Company designated by the Chief Executive Officer of the Company as eligible to participate in the Plan. 
 1.30 ERISA shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time. 
  

 8 

 1.31 Excess Benefit Portion shall mean the portion of the Plan which is intended
to constitute an unfunded excess benefit plan under Section 3(36) of Title I of ERISA which provides benefits not otherwise payable under the Retirement Plan due to the limitations imposed by Section 415 of the Code. 
 1.32 Executive Incentive Plan shall mean the Consolidated Edison Company of New York, Inc. Executive Incentive Plan, as amended
from time to time. 
 1.33 Incentive Award shall mean the “Incentive Award”, as that term is defined in the
Executive Incentive Plan or the 2005 EIP, as applicable. 
 1.34 Joint and 50% Survivor Annuity shall have the meaning
set forth in the Retirement Plan. 
 1.35 Joint and 75% Survivor Annuity shall have the meaning set forth in the
Retirement Plan. 
 1.36 Joint and 100% Survivor Annuity shall have the meaning set forth in the Retirement Plan.

 1.37 Mandatory Deferral Portion shall mean the “Mandatory Deferral Portion”, as that term is defined in
the Executive Incentive Plan. 
 1.38 Normal Payment Date shall mean the fifteenth day of the next month following the
date of the later of (i) a Participant’s Separation from Service or (ii) a Participant attaining age 55. 
 1.39 Normal Retirement Date shall have the meaning set forth in the Retirement Plan. 
  

 9 

 1.40 Participant shall mean an Eligible Employee who is participating in the Plan
pursuant to Section 2.01 hereof. 
 1.41 Participating Company shall mean an Affiliated Company that has adopted
this Plan in accordance with Section 4.04 hereof. 
 1.42 Pension Allowance shall have the meaning set forth in
the Retirement Plan. 
 1.43 Payment Form means the Elected Payment Form or, if no such form is elected by a
Participant, the Default Payment Form. 
 1.44 Plan shall mean this Consolidated Edison Company of New York, Inc.
Supplemental Retirement Income Plan, as set forth herein or as amended from time to time. 
 1.45 Plan Administrator
shall mean the individual appointed by the Chief Executive Officer of the Company to administer the Plan, as provided in Article IV. 
 1.46 Plan Year shall mean the calendar year. 
 1.47 Retirement Plan shall mean The Consolidated Edison
Retirement Plan as amended from time to time. 
 1.48 Section 409A shall mean Section 409A of the Code and
the rulings and regulations promulgated thereunder. 
 1.49 Select Management Portion shall mean the portion of the
Plan, other than the Excess Benefit Portion, which is intended to constitute an unfunded deferred compensation plan for a select group of management or highly compensated employees under Title I of ERISA. 
  

 10 

 1.50 Separation from Service shall mean a “separation from service” with
the Company and all Affiliated Companies, as determined under the default provisions in Treasury Regulation Section 1.409A-1(h), provided that a Participant who is absent from work due to Disability shall incur a Separation from Service
at the earlier of (i) the last day of the 29th month of absence from work, or (ii) the date of his recovery from such Disability, but no Separation from Service shall be deemed to have occurred if he returns to active employment upon such
recovery, within 29 months of the commencement of the period of his absence from work. 
 1.51 Single Life Annuity
shall mean a Participant’s Benefit payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Benefit Commencement Date and terminating in the month in which the Participant dies, with no further
payments thereafter. 
 1.52 Specified Employee shall mean an employee of the Company and its Affiliated Companies as
determined under the Company’s established methodology for determining “specified employees” under Section 409A on the date on which a Participant incurs a Separation from Service. 
 1.53 Supplemental Salary Deferrals shall mean “Supplemental Salary Deferrals”, as that term is defined in the Deferred
Income Plan. 
 1.54 Surviving Spouse shall have the meaning set forth in the Retirement Plan applicable to CECONY
participants. 
 1.55 Traditional Formula Participant shall mean a Participant who is subject to the “Final
Average Salary” or “Total Salary” formula under the Retirement Plan. 
  

 11 

 1.56 Transition Election shall mean the elections made by a Participant prior to
January 1, 2009 in accordance with the provisions of Notices 2005-1, 2006-79 and 2007-86 promulgated by the U.S. Treasury Department and the Internal Revenue Service and the Treasury Regulations under Section 409A. 
 1.57 Twelve Year Certain and Life Option shall have the meaning set forth in the Retirement Plan applicable to CEI Participants.

 1.58 2005 EIP shall mean the Consolidated Edison Company of New York, Inc. 2005 Executive Incentive Plan, as amended
from time to time. 
 1.59 Years of Accredited Service shall have the meaning set forth in the Retirement Plan.

 ARTICLE II. 
 PARTICIPATION; AMOUNT AND PAYMENT OF BENEFITS 
  

	 	2.01	Participation 

 (a) An Eligible Employee shall
participate in the Excess Benefit Portion of the Plan, provided such Eligible Employee’s pension benefit under the Retirement Plan on the date of his or her Separation from Service exceeds the limitations imposed by Code Section 415(b).

 (b) An Eligible Employee shall participate in the Select Management Portion of the Plan, provided (i) such Eligible Employee’s
pension benefit under the Retirement Plan on the date of his or her Separation from Service is limited by reason of the Code Section 401(a)(17), (ii) such Eligible Employee is awarded an Incentive Award under the Executive Incentive Plan
or the 2005 EIP (as applicable), (iii) such Eligible Employee has made a Basic Salary Deferral or 

  

 12 

 
a Supplemental Salary Deferral under the Deferred Income Plan, or (iv) such Eligible Employee meets any other terms and conditions for participation
specified by the Chief Executive Officer of the Company. 
 (c) Participation in the Plan shall terminate upon the Participant’s death
or, subject to Section 2.08, upon a Separation from Service with the Company and Affiliated Companies, unless a benefit is payable under the Plan with respect to the Participant or the Participant’s Beneficiary under the provisions of this
Article II. 
  

	 	2.02	Amount of Benefits 

 Subject to this Article II, and
prior to adjustment in accordance with Section 2.04, the amount of a Participant’s Benefit as of his Benefit Commencement Date, shall, subject to Section 2.08, be a monthly payment for the life of the Participant and shall equal the
excess, if any, of (a) minus (b), as calculated as of his Separation from Service and as determined below. In both Sections 2.02(a) and (b), the Participant’s Benefit shall be determined prior to any offsets under the Retirement Plan for
duplicate plan coverage. 
 (a) The monthly Accrued Basic Retirement Allowance which would have been payable under the Retirement Plan, in
the form of an annuity for the life of the Participant beginning on the Participant’s Benefit Commencement Date, and determined: 
  

	 	(i)	without regard to the provisions of Code Section 415 relating to the maximum limitation on benefits; 

  

	 	(ii)	without regard to the limitation on compensation set forth in Code Section 401(a)(17); and 

  

 13 

	 	(iii)	as if the definition of “compensation” (or term of similar import) used for purposes of determining an Eligible Employee’s pension benefit under the Retirement Plan
included any Basic Salary Deferrals or Supplemental Salary Deferrals under the Deferred Income Plan and any Incentive Award credited on the Participant’s behalf under the Executive Incentive Plan or the 2005 EIP (as applicable);
provided, however, that: 

 (A) if any portion of the Mandatory Deferral Portion of any Incentive
Award credited on the Participant’s behalf under the Executive Incentive Plan or 2005 EIP has been forfeited pursuant to the provisions of the Executive Incentive Plan or 2005 EIP (as applicable), such forfeited amount shall not be included;

 (B) where Incentive Awards shall be included in determining average compensation, the number of Incentive Awards recognized
shall not exceed the averaging period (expressed in whole years); and 
 (C) with respect to a Participant who is entitled to
a deferred pension benefit under the Retirement Plan due to termination of active employment because of Disability, the Participant’s compensation for any period after such termination, but prior to his Separation from Service, shall be
determined as if his or her Annual Basic Straight Time Compensation on the date of his or her termination of active employment was his or her Annual Compensation for such period; over 
 (b) the monthly Accrued Basic Retirement Allowance which would have been payable beginning on the Participant’s Benefit Commencement Date in the
form of an annuity for the life of the Participant under the Retirement Plan, without regard to any accruals under the Retirement Plan because of a Disability if such accruals relate to any period after which a Participant incurs a Separation from
Service. 
  

 14 

 The determination under Sections 2.02(a) and (b) shall be made as of the Participant’s Benefit Commencement
Date, with any adjustment for commencement before or after the Participant’s Normal Retirement Date made using the applicable actuarial adjustment factors under the Retirement Plan. 
 (c) If, after a Participant’s Benefit Commencement Date, amendments to the Code or ERISA permit the Retirement Plan to provide for payment of the
Participant’s pension benefit in an amount greater than that permissible on his Benefit Commencement Date, the Participant’s monthly Benefit, if any, under this Plan shall be reduced by the portion of the Participant’s monthly pension
benefit thereafter paid from the Retirement Plan in a manner consistent with Section 409A. 
 (d) All Benefits under this Plan that are
payable to a Traditional Formula Participant or to the Surviving Spouse of a Traditional Formula Participant in an Annuity Payment Form for the month of April in a calendar year, or that would have been payable but for the delay in payment pursuant
to Section 2.10, and with respect to which the Benefit Commencement Date was prior to December 31 of the prior calendar year, shall be eligible for a cost-of-living adjustment as follows, in a manner consistent with Section 409A. In
the case of a Benefit payable to a Surviving Spouse of a Traditional Formula Participant in an Annuity Payment Form, the Surviving Spouse Benefit shall be deemed to have commenced payment on the earlier of the (i) date that the Surviving
Spouse’s Benefit commenced to be paid or (ii) Participant’s Benefit Commencement Date. Such adjustment shall be payable for the month of April in such calendar year and for each month thereafter, until further changed or terminated in
accordance with provisions of this Plan. Each annual adjustment shall equal 75% of the percentage increase, rounded to the nearest 1/10 of one percent (0.001), in the Consumer Price Index, All Urban 

  

 15 

 
Consumers – US City Average (“CPI-U”), as published by the United States Department of Labor for the preceding December over such Index
for the next-preceding December and shall be applied to the amount that otherwise would have been payable to the Participant or Surviving Spouse, as applicable, for April of the calendar year in which the adjustment is made; provided,
however, that such adjustment shall not exceed 3% or be less than 0% of the eligible monthly Benefit. If at any time such Index is revised or discontinued, the Plan Administrator may, in its discretion, substitute such other index, device, or
other form of measurement as it determines to be appropriate. 
  

	 	2.03	Vesting 

 Subject to the reduction in a
Participant’s Benefit payable under this Plan (due to the forfeiture of any portion of the Mandatory Deferral Portion of any Incentive Award credited on the Participant’s behalf under the Executive Incentive Plan or 2005 EIP, as set forth
in Section 2.02(a)(iii)(A)), a Participant shall be vested in, and have a nonforfeitable right to, his or her Benefit to the same extent as the Participant is vested in his or her “Accrued Pension” under the Retirement Plan (as such
term is defined in the Retirement Plan). 
  

	 	2.04	Payment of Benefits 

 (a) Election Timing;
Participants Who Accrue a Benefit Prior to January 1, 2009. Subject to Section 2.04(b), an Eligible Employee who first becomes a Participant prior to January 1, 2009, and an employee who is hired prior to December 15, 2008
who is deemed to be an Eligible Employee under this Plan (the “2008 New Executives”), shall make, no later than December 31, 2008, a Transition Election to elect the date that payment of his or her Benefit shall be made or
shall commence (the “Elected Payment Date”); provided, however, that an election made in 2008 shall apply solely to the amount that would not otherwise be payable to a Participant in 2008 and shall not cause any
amounts to be paid to him or her in 2008 that would not otherwise be payable in 2008. 
  

 16 

 (b) Payment Date for Participants Who Accrue a Benefit Prior to January 1, 2009. An Eligible
Employee who first becomes a Participant and accrues a Benefit under the Plan prior to January 1, 2009 shall receive or commence receiving payment of his or her Benefit on the Participant’s applicable Normal Payment Date, unless the
Participant specifies an Elected Payment Date in accordance with Section 2.04(a). 
 (c) Payment Forms for Participants Who Accrue a
Benefit Prior to January 1, 2009. An Eligible Employee who first becomes a Participant and accrues a Benefit under this Plan prior to January 1, 2009, and makes a Transition Election in accordance with Section 2.04(a), may elect
an Elected Payment Form as follows: 
  

	 	(i)	With respect to a Traditional Formula Participant who has not attained 75 Points, such Participant shall only be permitted to elect (A) a Cash Out, or (B) a Joint and 50%
Survivor Annuity or a Single Life Annuity (as applicable); provided, however, that upon the date that a Traditional Formula Participant attains 75 Points, he or she shall no longer be entitled to receive a Cash Out and instead shall be
entitled to receive the Default Payment Form (as applicable). 

  

	 	(ii)	With respect to a Traditional Formula Participant who has attained 75 Points, such Participant shall only be entitled to receive his or her Benefit in a Joint and 50% Survivor
Annuity or a Single Life Annuity (as applicable). 

  

 17 

	 	(iii)	With respect to a Cash Balance Formula Participant, such Participant shall only be permitted to elect (A) a Cash Balance Single Sum Payment, or (B) a Joint and 50%
Survivor Annuity or a Single Life Annuity (as applicable); 

 provided, that, in each case, such Participant may modify his or her
Elected Payment Form in accordance with Section 2.04(e). 
 The Elected Payment Form may be different than the form of payment elected
by the Participant under the Retirement Plan. If a Participant does not specify an Elected Payment Form, such Participant’s Benefit shall be paid in the Default Payment Form. A Participant may only elect one payment form for his or her Benefit.

 (d) Payment Date and Payment Form for Participants Who First Accrue a Benefit on or after January 1, 2009. A Participant who
first accrues a Benefit under the Plan on or after January 1, 2009 (other than a 2008 New Executive), shall receive his or her Benefit on the Normal Payment Date and in the Default Payment Form; provided, however, that such
Participant may be permitted to modify his or her Payment Form in accordance with Section 2.04(e). Such Participant shall not be permitted to elect an Elected Payment Date or an Elected Payment Form. 
 (e) Modifying a Payment Form. A Participant who elects or is entitled to receive his or her Benefit in a Single Life Annuity, Twelve-Year Certain
and Life Option or a 50, 75 or 100% Joint and Survivor Annuity (an “Annuity Payment Form”) may, during the 30-day period prior to his or her Separation from Service, elect to have his or her Benefit paid in another Annuity Payment
Form that is the Actuarial Equivalent of the original Payment Form applicable to the Participant. Notwithstanding the foregoing, a 

  

 18 

 
Participant who has made an election pursuant to Section 2.04(c)(iii) to have his or her Benefit paid in the form of a Cash Balance Single Sum Payment,
or is subject to a Default Payment Form in either a Cash Balance Single Sum Payment or a Cash Out, shall not be permitted to change his or her Payment Form. 
  

	 	2.05	Death Prior to a Participant’s Payment Date 

 (a) If a Traditional Formula Participant who is entitled to a vested pension benefit under the Retirement Plan dies (i) while he or she is actively employed by the Company and has a Surviving Spouse or Domestic Partner on the date of
his or her death or (ii) after incurring a Separation from Service with entitlement to a Benefit under the Plan, but prior to the Participant’s Benefit Commencement Date, such Participant’s Surviving Spouse, Domestic Partner or
Beneficiary (as applicable) shall be entitled to receive the following Benefit: 
 (A) If on the date of a Traditional Formula
Participant’s death he or she has attained 75 Points and (x) is actively employed by the Company and (y) has a Surviving Spouse or Domestic Partner on the date of his or her death, his or her Surviving Spouse or Domestic Partner shall
be entitled to receive a Single Life Annuity commencing on the fifteenth day of the month following the month of the Participant’s death. The amount of the Single Life Annuity payable hereunder shall be the Actuarial Equivalent of 50% of the
Benefit that the Participant would have received under this Plan at his or her Benefit Commencement Date, if he or she had incurred a Separation from Service on the date of his or her death and survived until such Benefit Commencement Date.

  

 19 

 (B) If on the date of a Traditional Formula Participant’s death he or she has not
attained 75 Points and (x) is actively employed by the Company and (y) has a Surviving Spouse or Domestic Partner on the date of his or her death, his or her Surviving Spouse or Domestic Partner shall be entitled to receive a lump sum
payment within 60 days following the Participant’s date of death. The amount of the lump sum payment to such Surviving Spouse or Domestic Partner shall be the Actuarial Equivalent of 50% of the Cash Out that the Participant would have received
under this Plan at his or her Benefit Commencement Date, if he or she had incurred a Separation from Service on the date of his or her death and survived until such Benefit Commencement Date. 
 (C) Notwithstanding anything in clauses (A) or (B) to the contrary, if a Traditional Formula Participant’s death occurs
(x) within 30 days of electing the date of his or her termination of employment with the Company (pursuant to such procedures established by the Plan Administrator from time to time); or (y) after incurring a Separation from Service with
entitlement to a Benefit under the Plan, but prior to the Participant’s Benefit Commencement Date, such Participant’s Surviving Spouse, Domestic Partner or Beneficiary (as applicable) shall be entitled to receive a benefit equal to the
Actuarial Equivalent of the survivor benefit payable pursuant to such Participant’s Payment Form, determined as if the Participant had incurred a Separation from Service on the date of his or her death and survived until his or her Benefit
Commencement Date; provided, however, that in the case of a Traditional Formula Participant who has not attained 75 Points and has elected a Cash Out, his or her Beneficiary shall be entitled to 

  

 20 

 
receive a lump sum payment within 60 days following the Participant’s date of death in an amount equal to the Actuarial Equivalent of 50% of the Cash
Out that such Participant would have received under this Plan at his or her Benefit Commencement Date, if he or she had incurred a Separation from Service on the date of his or her death and survived until such Benefit Commencement Date. 

(b) If a Cash Balance Formula Participant entitled to a vested pension benefit under the Retirement Plan dies at any time prior to such
Participant’s Elected Payment Date or Normal Payment Date (as applicable), the Participant’s Beneficiary shall be entitled to receive a lump sum payment equal to his or her Cash Balance Account under this Plan on the date of his or her
death within 60 days following the date of death. 
  

	 	2.06	Reemployment of Former Participant 

 Notwithstanding the provisions
of Section 2.04, if a Participant who incurred a Separation from Service is reemployed by the Company or an Affiliated Company or otherwise becomes a Participant, any payment of the Benefit shall cease. Such Participant shall not be entitled to
make an election under Sections 2.04(a) or 2.04(b). Upon the Participant’s subsequent Separation from Service (for any reason), the Participant’s Benefit shall be recomputed and any Benefit then payable hereunder shall be reduced, but not
below zero, by a benefit of Actuarial Equivalent value (as determined in compliance with Section 409A) to any Benefit previously paid under the Plan and any Benefit hereunder (including any additional Benefit accrued under the Plan by such
Participant) shall be paid on the Normal Payment Date and in the Default Payment Form. In the event such Participant did not incur a Separation from Service, any additional Benefit accrued by the Participant shall be distributed on the Payment Date
and in the Payment Form applicable to the Benefit previously accrued by the Participant. 
  

 21 

	 	2.07	Additional Benefits 

 The Chief Executive Officer of
the Company may authorize such other benefits for any Eligible Employee, or class of Eligible Employees, as he or she deems advisable, including, but not limited to, accelerated vesting, increasing age for retirement purposes, and crediting
additional service to the extent such action does not violate the requirements of Section 409A; provided, however, that no such additional benefits shall result in a change to an Eligible Employee’s Payment Form or Payment
Date. 
  

	 	2.08	Transfer to Affiliated Company 

 If a
Participant’s employment with the Company is transferred to an Affiliated Company that is a Participating Company, he or she shall continue to accrue additional Benefits in accordance with the terms of this Plan in effect on the date of such
transfer. If a Participant’s employment with the Company is transferred to an Affiliated Company that has not adopted this Plan and, as a result of such transfer, such Participant is no longer an Eligible Employee, he or she shall no longer
accrue any additional Benefits under this Plan effective as of the date of such transfer. 
  

	 	2.09	Payment of De Minimis Amounts 

 Notwithstanding a
Participant’s Payment Form, the Company shall make a lump sum distribution to the Participant of any de minimis Benefit amounts as follows: 
  

	 	(i)	 If a Traditional Formula Participant has not attained 75 Points on the date of his or her Separation from Service and has a Benefit under the Plan with an Actuarial
Equivalent value which, when aggregated with the accrued benefit subject to Section 409A under each other Company Non Account Plan in which the Participant participates does not exceed the dollar limit set forth in Section 402(g) of the
Code on the date of such 

  

 22 

	 	 
Separation from Service, the Company shall pay such Benefit to the Participant in a lump sum payment on the last business day of the calendar month following
the calendar month in which the Separation from Service occurs; or 

  

	 	(ii)	If a Cash Balance Formula Participant incurs a Separation from Service and has a Benefit under the Plan with an Actuarial Equivalent value which, when aggregated with the accrued
benefit subject to Section 409A under each other Company Non Account Plan in which the Participant participates, does not exceed the dollar limit set forth in Section 402(g) of the Code on the date of such Separation from Service, the
Company shall pay such Benefit to the Participant in a lump sum payment on the last business day of the calendar month following the calendar month in which the Separation from Service occurs. 

  

	 	2.10	Six-Month Delay in Commencement of Benefits 

 Notwithstanding Sections 2.04 and 2.09, if at the time of a Participant’s Separation from Service, such Participant is a Specified Employee, any payment hereunder during the period beginning on the date of the Participant’s
Separation from Service and ending on the six-month anniversary of such date (the “Delayed Payment Amount”) shall be delayed and not paid to the Participant until the fifteenth day of the next month following such six-month
anniversary date, at which time such delayed amounts shall be paid to the Participant in a lump sum. If a Participant dies on or after the date of the Participant’s Separation from Service and prior to payment of the Delayed Payment Amount, any
amount delayed pursuant to this Section 2.10 shall be paid to the Participant’s joint annuitant (if the Payment Form elected by the Participant is a joint annuity) or, if there is no joint annuitant, the Participant’s Beneficiary, as
applicable, within 60 days following the date of such Participant’s death. 
  

 23 

 ARTICLE III. 
 GENERAL PROVISIONS 
  

	 	3.01	Funding 

 (a) All amounts payable in accordance with
this Plan shall constitute a general unsecured obligation of the Company. Such amounts, as well as any administrative costs relating to the Plan, shall be paid out of the general assets of the Company to the extent not paid from the assets of any
trust established pursuant to paragraph (b) below. 
 (b) The Company may establish a grantor trust for the benefit of Participants in
the Plan. Notwithstanding the foregoing sentence, the Company shall, if not already existing upon a Change of Control, within 30 days subsequent to the Change of Control establish a grantor trust for the benefit of the Participants and fund such
trust at a level at least equal to the value of the liabilities of the Plan as of the day before the Change of Control occurred. The assets placed in the trust shall be held separate and apart from other Company funds and shall be used for the
purposes set forth in the Plan and the applicable trust agreement, subject to the following conditions: 
  

	 	(i)	the creation of the trust shall not cause the Plan to be other than “unfunded” for purposes of Title I of ERISA; 

  

	 	(ii)	the Company shall be treated as “grantor” of the trust for purposes of Section 677 of the Code; 

  

	 	(iii)	the agreement of the trust shall provide that its assets may be used upon the insolvency or bankruptcy of the Company to satisfy claims of the Company’s general creditors and
that the rights of such general creditors are enforceable by them under federal and state law; and 

  

 24 

	 	(iv)	the establishment, operation and funding of the trust shall comply with applicable law, including, without limitation, Section 409A. 

  

	 	3.02	Discontinuance and Amendment 

 The Company reserves
the right, by action of the Board of Trustees, to discontinue benefit accruals under the Plan at any time; and further reserves the right, by action of the Board of Trustees or the Plan Administrator, to modify or amend the Plan, in whole or in
part, at any time. However, except to the extent permitted under Section 3.07 hereof, no modification, amendment, or discontinuance shall adversely affect the right of any Participant to receive the benefits credited on his behalf under the
Plan as of the date of such modification, amendment or discontinuance, and no modification or amendment by action of the Plan Administrator shall have a material effect on the benefits payable under the Plan. Notwithstanding the foregoing, following
any amendment and except as provided in Article II with respect to lump sum payments hereunder, Benefits under this Plan may be adjusted as required to take into account the amount of pension benefits payable under the Retirement Plan after the
application of the limitations referred to in Section 2.02 hereof. 
  

	 	3.03	Termination of Plan 

 The Company reserves the
right, by action of the Board of Trustees, to terminate the Plan at any time; provided, however, that no termination shall be effective retroactively. As of the effective date of termination of the Plan: 
 (a) The benefits of any Participant, Surviving Spouse, Domestic Partner or Beneficiary whose benefit payments have commenced shall continue to be paid,
but only to the extent such benefits are not otherwise payable under the Retirement Plan because of the limitations referred to in Section 2.02(a)(i) or (ii); and 
  

 25 

 (b) no further benefits shall accrue on behalf of any Participant whose benefits have not commenced, and
such Participant and the Participant’s Surviving Spouse, Domestic Partner or Beneficiary shall retain the right to benefits hereunder, provided that on or after the effective date of termination the Participant is vested under the Retirement
Plan. All other provisions of this Plan shall remain in effect. 
  

	 	3.04	Plan Not a Contract of Employment 

 This Plan is not
a contract of employment, and the terms of employment of any Participant shall not be affected in any way by this Plan or related instruments, except as specifically provided therein. The establishment of this Plan shall not be construed as
conferring any legal rights upon any person for a continuation of employment, nor shall it interfere with the rights of the Company to discharge any person and to treat such person without regard to the effect which such treatment might have upon
such person under this Plan. Each Participant and all persons who may have or claim any right by reason of the Participant’s participation in this Plan shall be bound by the terms of this Plan and all agreements entered into pursuant thereto.

  

	 	3.05	Facility of Payment 

 In the event that the Plan
Administrator shall find that a Participant is unable to care for such Participant’s affairs because of illness or accident or because he or she is a minor or has died, the Plan Administrator may, unless a claim shall have been made therefor by
a duly appointed legal representative, direct that any benefit payment due the Participant, to the extent not payable from a grantor trust, be paid on the Participant’s behalf to the Participant’s spouse, a child, a parent or other blood
relative, or to a person with whom the Participant resides or a legal guardian, and any such payment so made shall be a complete discharge of the liabilities of the Company and the Plan therefor. 
  

 26 

	 	3.06	Withholding Taxes 

 The Company and any
Participating Company shall have the right to deduct from each payment to be made under the Plan any required withholding taxes. 
  

	 	3.07	Section 409A 

 This Plan is intended to satisfy
the applicable requirements of Section 409A and shall be operated and interpreted consistent with such intent. If the Plan Administrator determines, in good faith, that any provision of this Plan does not satisfy such requirements or could
otherwise cause any person to recognize additional taxes, penalties or interest under Section 409A, the Plan Administrator shall modify, to the maximum extent practicable, the original intent of the applicable provision without violation of the
requirements of Section 409A (“Section 409A Compliance”), and, notwithstanding any provision herein to the contrary, the Plan Administrator shall have broad authority to amend or to modify the Plan, without advance notice to or
consent by any person, to the extent necessary or desirable to ensure Section 409A Compliance. In no event shall the Company have any liability or obligation with respect to any taxes, penalties or interest for which a Participant may become
liable as a result of the application of Section 409A. Any determinations by the Plan Administrator shall be final and binding on all parties. 
  

	 	3.08	Nonalienation 

 Subject to any applicable law, no
benefit under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, and any attempt to do so shall be void, nor shall any such benefit be in any manner liable for or subject
to garnishment, attachment, execution or levy, or liable for or subject to the debts, contracts, liabilities, engagements or torts of the person entitled to such benefits. 
  

 27 

	 	3.09	Assumption of Liabilities 

 Notwithstanding any Plan
provision to the contrary, at the sole discretion and direction of the Board of Trustees, the Plan may assume liabilities with respect to benefits accrued by a Participant under a plan maintained by such Participant’s former employer, and upon
such assumption such liabilities shall become the obligation of the Company. 
  

	 	3.10	Claims and Review Procedure 

 (a) Applications for
benefits and inquiries concerning the Plan (or concerning present or future rights to benefits under the Plan) must be submitted in writing to the Plan Administrator. An application for benefits must be submitted and signed by the Participant or, in
the case of a benefit payable after his or her death, by his or her Beneficiary, or a duly authorized legal representative. 
 (b) In the
event that an application for benefits is denied in whole or in part, the Plan Administrator shall notify the applicant in writing of the denial and of the right to review the denial. The written notice will set forth, in a manner calculated to be
understood by the applicant, specific reasons for the denial, specific references to the provisions of the Plan on which the denial is based, a description of any information or material necessary for the applicant to perfect the application, an
explanation of why the material is necessary, and an explanation of the review procedure under the Plan. The written notice from the Plan Administrator shall be given to the applicant within a reasonable period of time, not more than 90 days, after
the Plan Administrator received the initial application, unless special circumstances require further time for processing and the applicant is advised of the need and reason for the extension within the first 90-day period. The applicant will also
be informed of the date by which the Plan Administrator expects to render the decision. In no event shall the initial decision be given more 

  

 28 

 
than 180 days after the Plan Administrator received the application. The Plan Administrator has the authority to act with respect to any appeal from a denial
of benefits or a determination of benefit rights. 
 (c) An applicant whose application for benefits was denied in whole or part, or the
applicant’s duly authorized representative, may appeal the denial by submitting to the Plan Administrator a request for a review of the application within 60 days after receiving written notice of the denial from the Plan Administrator. The
Plan Administrator shall give the applicant or his or her representative an opportunity to review pertinent materials, other than legally privileged documents, in preparing the request for a review. The request for a review must be in writing and
addressed to the Plan Administrator. The request for a review shall set forth all of the grounds on which it is based, all facts in support of the request and any other matters that the applicant deems pertinent. The Plan Administrator may require
the applicant to submit such additional facts, documents or other materials as it may deem necessary or appropriate in making its review. 
 (d) The Plan Administrator shall act on each request for a review within 60 days after receipt, unless special circumstances require further time for processing by the Plan Administrator and the applicant is advised of the need and reason
for the extension. In no event will the decision on review be rendered more than 120 days after the Plan Administrator received the request for a review. The Plan Administrator shall give prompt written notice of its decision to the applicant. In
the event that the Plan Administrator confirms the denial of the application for benefits in whole or in part, the notice will set forth, in a manner calculated to be understood by the applicant, the specific reasons for the decision and specific
references to the provisions of the Plan on which the decision is based. 
  

 29 

 (e) The Plan Administrator has discretionary authority to administer the plan, including interpreting the
terms, determining eligibility for, entitlement to and amount of benefits under the Plan, determining any facts and resolving any questions relevant to administration of the Plan and remedying and correcting any ambiguities, inconsistencies or
omissions in the Plan. Any action taken by the Plan Administrator pursuant to such discretionary authority shall be conclusive and binding on all Participants, Beneficiaries and others. The Plan Administrator shall adopt such rules, procedures and
interpretations of the Plan as deemed necessary or appropriate in carrying out the Plan Administrator responsibilities under this Section. 
 (f) No legal action for benefits under the Plan may be brought unless and until the claimant has submitted a written application for benefits in accordance with paragraph (a); has been notified by the Plan Administrator that the application
is denied has filed a written request for a review of the application in accordance with paragraph (c); and has been notified in writing that the Plan Administrator has affirmed the denial of the application; provided, however, that
legal action may be brought after the Plan Administrator has failed to take any action on the claim within the time prescribed by paragraphs (b) and (d) above. 
  

	 	3.11	Construction 

 (a) The Plan is intended to
constitute both an excess benefit arrangement and an unfunded deferred compensation arrangement maintained for a select group of management or highly-compensated employees within the meaning of Sections 201(2), 301(a)(3), and 401(a)(1) of ERISA, and
all rights under this Plan shall be governed by ERISA. Subject to the preceding sentence, the Plan shall be construed, regulated and administered under the laws of the State of New York, to the extent such laws are not superseded by applicable
federal law. 
  

 30 

 (b) The illegality of any particular provision of this document shall not affect the other provisions and
the document shall be construed in all respects as if such invalid provision were omitted. 
 (c) The headings and subheadings in the Plan
have been inserted for convenience of reference only, and are to be ignored in any construction of the provisions thereof. 
 ARTICLE IV.

 PLAN ADMINISTRATION 
  

	 	4.01	Responsibility for Benefit Determination 

 The
Benefit of a Participant, Surviving Spouse, Domestic Partner or Beneficiary under this Plan shall be determined either by the Plan Administrator, as provided in Section 4.02 below. 
  

	 	4.02	Duties of Plan Administrator 

 The Plan
Administrator shall calculate, in accordance with Article II, the Benefit of each Participant, Surviving Spouse, Domestic Partner or Beneficiary under the Plan. To the extent a Participant’s Surviving Spouse, Domestic Partner or
Beneficiary’s Benefit is payable from the Plan, the Plan Administrator shall have full discretionary authority to make factual and legal determinations, resolve any question which shall arise under the Plan as to any person’s eligibility
for benefits, the calculation of benefits, the form, commencement date, frequency, duration of payment, or the identity of the Beneficiary. Such question shall be resolved by the Plan Administrator under rules uniformly applicable to all person(s)
or employee(s) similarly situated. 
  

 31 

	 	4.03	Procedure for Payment of Benefits Under the Plan 

 With respect to any Benefit to which a Participant, Surviving Spouse, Domestic Partner or Beneficiary is entitled under this Plan, the Plan Administrator (a) shall direct the commencement of payments of Benefits hereunder in accordance
with the applicable procedures established by the Company and/or the Plan Administrator regarding the disbursement of amounts from the general funds of the Company and (b) shall arrange, in conjunction with any other applicable excess benefit
plan, for the payment of Benefits under this Plan and/or any other applicable excess benefit plan. 
  

	 	4.04	Additional Participating Companies 

 With the
consent of the Plan Administrator, an Affiliated Company may adopt the Plan. Upon the effective time of the adoption of the Plan, the Affiliated Company shall be a Participating Company and shall be subject to the terms and conditions of the Plans.
A Participating Company may terminate participation in the Plan with the consent of the Plan Administrator for some or all of its employees. . 
  

 32 

 Annex A 
 Actuarial Equivalent Factors for Death Benefits 
  

			
	 Age
	  	Factor
	 40
	  	0.288674
	 41
	  	0.312297
	 42
	  	0.338002
	 43
	  	0.365993
	 44
	  	0.396502
	 45
	  	0.429784
	 46
	  	0.466125
	 47
	  	0.505847
	 48
	  	0.549309
	 49
	  	0.596918
	 50
	  	0.649128
	 51
	  	0.706457
	 52
	  	0.769492
	 53
	  	0.838901
	 54
	  	0.915445
	 55
	  	1.000000

 Note: 
 Interpolate
between whole ages. 
 Based on 1983 Group Annuity Mortality Table (50% male/50% female blend) 
 and an interest rate of 7.50%. 
  

 A-1

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