Executive and Director Deferred Compensation Plan EXECUTIVE DEFERRAL AGREEMENT Name: ________________________________________________ (the "Participant") Last First Middle Initial Social Security Number: _____ - ____ - ________
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Pepco Holdings, Inc. |
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Executive and Director Deferred Compensation Plan |
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Name: ________________________________________________ (the "Participant") |
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Social Security Number: _____ - ____ - ________ |
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A. |
This Deferral Agreement (the "Agreement") has been made as of this _____ day of ______, _____ between the Executive and Pepco Holdings, Inc. (the "Company") |
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I elect to participate in the Pepco Holdings, Inc. Executive and Director Deferred Compensation Plan (the"Plan") with respect to the _____-_____ time period. I understand the general provisions of the Plan. |
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B. |
Deferral Elections for the period July 1, _____ through June 30, _____. |
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(i) |
I hereby elect to defer the following percentage of my salary: ________% |
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(ii) |
I understand that due to current tax limitations, I may not be able to contribute a full 6% of my compensation into the Savings Plan (the "401(k) Plan"). I hereby elect to defer any shortfall between the full 6% of my compensation and the maximum amount which can be contributed on my behalf into the 401(k) Plan: |
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Payment Instructions |
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I elect to have the above-referenced deferred amounts paid to me (check one): |
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(i) |
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On the date of commencement of benefits under the General Retirement Plan. |
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(ii) |
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On January 31 of the year following commencement of benefits under the General Retirement Plan. |
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(iii) |
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On the first day of the month following my separation from the Company's service. |
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(iv) |
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On January 31 of the calendar year following my separation from the Company's service. |
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(v) |
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On January 31 of the calendar year following my attainment of age ____ or separation from the Company's service. |
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(vi) |
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On January 31 of ________ (Note: The designated year may not be earlier than _____). |
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________________________________________________________________________________________________________ |
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Manner of Payment |
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Benefits deferred under the Plan shall be paid to me (or, if applicable, my beneficiary) in the following manner (check one): |
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In a lump sum. |
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In annual installments over ___________ (two through fifteen) years. |
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In monthly installments over ______________ (twenty-four through one hundred and eighty) months. |
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C. |
I further recognize that nothing contained herein or in the Plan shall be construed as a contract of employment between me and the Company, as a right to continue employment or as a limitation of the Company's right of discharge. |
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D. |
I understand that if I die during active service, my beneficiary shall receive an amount equal to two times my account balance resulting from deferrals under this Agreement. |
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IN WITNESS WHEREOF, the parties hereto have entered into this Agreement on the day and year stated below. |
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Pepco Holdings, Inc. |
EXECUTIVE |
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By: ____________________________ |
________________________________ |
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Title: ___________________________ |
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______________________________________________________________________ |
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DECLINE PARTICIPATION |
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I do not wish to participate in the _____-_____ Pepco Holdings, Inc. Executive and Director Deferred Compensation Plan. |
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______________________________ |
________________________________ |
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________________________________________________________________________________________________ |
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