SEC Contract Filing

Filing Date: 2018-05-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>exc-ex101_2018331q1.htm
<DESCRIPTION>FORM OF SEPARATION AGREEMENT UNDER EXELON CORPORATION SENIOR MANAGEMENT SEVERANC
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2018 Workiva -->
 <title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="sf699ca4c2e174f7b926d4c41d5337836"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SEPARATION AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS SEPARATION AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is entered into as of ________________, 20__ between Exelon Corporation (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Exelon</font><font style="font-family:inherit;font-size:12pt;">&#8221;), _______________________ (&#8220;Subsidiary&#8221;, and, collectively with Exelon, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and __________________ (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Executive</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">W I T N E S S E T H:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Executive is separating from all positions with the Company and its respective affiliates.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the mutual promise s and agreements contained herein, the adequacy and sufficiency of which are hereby acknowledged, the Company and the Executive agree as follows:</font></div><div style="line-height:120%;padding-left:12px;text-align:left;text-indent:96px;"><font style="text-align:left;font-family:inherit;font-size:12pt;padding-right:36px;">1. </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Resignation &amp; Termination of Employment</font><font style="font-family:inherit;font-size:12pt;">. The Executive&#8217;s employment will be terminated and Executive hereby resigns, each effective as of the close of business on ____________________, 20__ (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Termination Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;), from his or her position as ________________________ and</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">from all other positions as an officer or director of Exelon and its subsidiaries and affiliates. [During the period commencing on the date hereof and ending on the Termination Date, Executive shall cooperate with and assist in the orderly transition of his or her duties, and shall diligently perform such other services reasonably consistent with his or her position as may be requested from time to time. Executive&#8217;s current base salary and annual incentive target shall remain in effect, and Executive (and his or her eligible dependents) shall also remain eligible to participate in the Company&#8217;s applicable employee benefit plans, and shall remain subject to and comply with the Company&#8217;s code of business conduct and other employment policies.]</font></div><div style="line-height:120%;text-align:left;padding-left:12px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:12px;text-align:left;text-indent:96px;"><font style="text-align:left;font-family:inherit;font-size:12pt;padding-right:36px;">2. </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Payment of Accrued Amounts</font><font style="font-family:inherit;font-size:12pt;">. The Company shall pay to the Executive the portion of his or her annual salary that has accrued but is unpaid as of the Termination Date and an additional amount representing the Executive&#8217;s accrued but unused vacation days as of the Termination Date, in each case not later than the second payroll date after the Termination Date. </font></div><div style="line-height:120%;text-align:left;padding-left:1