{"id":40844,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/noncompetition-nonsolicitation-and-confidentiality-agreement.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"noncompetition-nonsolicitation-and-confidentiality-agreement","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/corporate\/noncompetition-nonsolicitation-and-confidentiality-agreement.html","title":{"rendered":"Noncompetition, Nonsolicitation, and Confidentiality Agreement &#8211; Pepco Holdings"},"content":{"rendered":"<table width=\"643\" cellpadding=\"7\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p align=\"right\">Page 1 of 7<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p align=\"center\">NON-COMPETITION, NON -SOLICITATION, AND CONFIDENTIALITY<br \/>\nAGREEMENT<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>THIS NON-COMPETITION, NON-SOLICITATION, AND CONFIDENTIALITY AGREEMENT (the<br \/>\n&#8220;<u>Agreement<\/u>&#8220;), is made on this 27<sup>th<\/sup> day of March, 2006, by and<br \/>\nbetween Pepco Holdings, Inc., with its principal place of business at 701 Ninth<br \/>\nStreet, N. W. Washington, D. C. 20068, including, unless the context clearly<br \/>\notherwise requires, its subsidiaries and affiliates (together, &#8220;PHI&#8221;), and Eddie<br \/>\nR. Mayberry (the &#8220;Executive&#8221;).<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>WHEREAS, the Executive is employed by PHI as Senior Vice President, PHI and<br \/>\nPresident, Pepco Energy Services and in such capacity, had, has, and will<br \/>\ncontinue to have access to PHI&#8217;s employees, customers, vendors, trade secrets,<br \/>\nand proprietary information; and<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>WHEREAS, by virtue of the years of valuable service the Executive has<br \/>\nprovided to PHI in a position in which the Executive has made significant policy<br \/>\ndecisions and contributed to the establishment of the strategic direction and<br \/>\ncompensation policies of PHI, the Executive possesses significant knowledge of<br \/>\nand experience in connection with the business of PHI, including specifics<br \/>\nregarding the compensation and benefits of its key executives that would place<br \/>\nhim in a position to recruit such executives if he were to engage in a competing<br \/>\nor similar business; and<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>WHEREAS, PHI is prepared to make a substantial cash payment to the Executive<br \/>\nupon his retirement, as set forth in Section 2 below, provided that the<br \/>\nExecutive makes certain assurances that he will not be in a position that is<br \/>\npotentially adverse to, or that otherwise would harm, the business interests of<br \/>\nPHI; and<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>WHEREAS, the Executive desires to enter into this Agreement in exchange for<br \/>\nsuch cash payment;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>NOW THEREFORE, in consideration of these premises and intending to be legally<br \/>\nbound hereby, PHI and the Executive hereby agree as follows:<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>SECTION 1. <u>Definitions<\/u>. Capitalized terms used herein will have the<br \/>\nmeanings set forth in the preamble of this Agreement, or as set forth below:\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>1.1. &#8220;<u>Competing Business<\/u>&#8221; means (a) any electric or gas energy<br \/>\nsupplier or distributor located in or servicing the area east of the Mississippi<br \/>\nRiver within the United States of America and (b) any other corporation, or<br \/>\nunincorporated entity, in the area east of the Mississippi or any other place<br \/>\nwhere PHI has conducted business during the tenure of Executive&#8217;s employment<br \/>\nwith PHI (except with respect to lines of business in which the Company no<br \/>\nlonger engages).<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>1.2. &#8220;<u>Proprietary Information<\/u>&#8221; means confidential, proprietary,<br \/>\nbusiness and technical information or trade secrets of PHI. Such Proprietary<br \/>\nInformation shall include, but shall not be limited to, the following items and<br \/>\ninformation relating to the following items: (a) computer codes or instructions<br \/>\n(including source and object code listings, program logic algorithms,<br \/>\nsubroutines, modules or other subparts of computer programs and related<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p align=\"center\">\n<img loading=\"lazy\" decoding=\"async\" height=\"10\" width=\"600\" src=\"http:\/\/www.sec.gov\/Archives\/edgar\/data\/8192\/000113597107000030\/image77.gif\">\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>documentation, including program notation), computer processing systems and<br \/>\ntechniques, all computer inputs and outputs (regardless of the media on which<br \/>\nstored or located), hardware and software configurations, designs, architecture<br \/>\nand interfaces, (b) business research, studies, procedures and costs, (c)<br \/>\nfinancial data, (d) distribution methods, (e) marketing data, methods, plans and<br \/>\nefforts, (f) the identities of PHI&#8217;s relationship(s) with actual and prospective<br \/>\ncustomers, contractors and suppliers, (g) the terms of contracts and agreements<br \/>\nwith customers, contractors and suppliers, (h) the needs and requirements of,<br \/>\nand course of dealing with, actual or prospective customers, contractors and<br \/>\nsuppliers, (i) personnel information, including but not limited to benefit<br \/>\nprograms, pay scales, and incentive programs, and (j) customer and vendor credit<br \/>\ninformation. Failure by PHI to mark any of the Proprietary Information as<br \/>\nconfidential or proprietary shall not affect its status as Proprietary<br \/>\nInformation under the terms of this Agreement.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>1.3. &#8220;<u>Restricted Period<\/u>&#8221; means the entire period of the Executive&#8217;s<br \/>\nemployment by PHI and the 12 calendar months following the termination of such<br \/>\nemployment.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>1.4. &#8220;<u>Restrictive Covenants<\/u>&#8221; means the provisions contained in<br \/>\n<u>Section 3.1<\/u> of this Agreement.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>SECTION 2. <u>Transaction and Signing Bonus<\/u>. Within 15 days following the<br \/>\nretirement of the Executive on April 1, 2006, PHI will make a single sum cash<br \/>\npayment to the Executive of one years&#8217; salary in effect on his retirement date,<br \/>\nless any required tax withholding.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>SECTION 3. <u>Non-Compete; Confidentiality; Non-Solicitation<\/u>. In<br \/>\nconsideration of the payment described above in <u>Section 2<\/u>, the Executive<br \/>\nagrees to be bound by the Restrictive Covenants set forth in this <u>Section<br \/>\n3<\/u>.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>3.1. <u>Restrictive Covenants<\/u>.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(a) During the Restricted Period, the Executive will not do any of the<br \/>\nfollowing, directly or indirectly, in the area east of the Mississippi River or<br \/>\nany other place where PHI has conducted business during the tenure of<br \/>\nExecutive&#8217;s employment with PHI (except with respect to lines of business in<br \/>\nwhich the Company no longer engages), without the prior written consent of PHI,<br \/>\nas applicable:<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(i) <u>Non-Competition<\/u>. Engage or participate in any Competing Business;\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(ii) <u>Restrictions on Ownership.<\/u> Become interested in (as owner,<br \/>\nstockholder, lender, partner, co-venturer, director, officer, employee, agent or<br \/>\nconsultant) any person, firm, corporation, association or other entity engaged<br \/>\nin any Competing Business. Notwithstanding the foregoing, the Executive may hold<br \/>\nup to 2% of the outstanding securities of any class of any publicly-traded<br \/>\nsecurities of any company;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(iii) <u>Non-Solicitation of Business<\/u>. Solicit or call on, either<br \/>\ndirectly or indirectly, (A) for purposes of selling goods or products<br \/>\ncompetitive with goods or products sold by PHI , any customer with whom PHI<br \/>\nshall have dealt or any prospective customer that PHI shall have identified and<br \/>\nsolicited at any time during the Executive&#8217;s employment, or<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p align=\"center\">-2-<\/p>\n<p>\n<img loading=\"lazy\" decoding=\"async\" height=\"10\" width=\"600\" src=\"http:\/\/www.sec.gov\/Archives\/edgar\/data\/8192\/000113597107000030\/image77.gif\">\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>engagement as a consultant, by PHI ; or (B) for the purposes of purchasing<br \/>\ngoods or products competitive with goods or products purchased by PHI for resale<br \/>\nby PHI , any supplier with whom PHI shall have dealt at any time during the<br \/>\nExecutive&#8217;s employment, or engagement as a consultant, by PHI;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(iv) <u>Non-Interference with Business<\/u>. Influence or attempt to influence<br \/>\nany supplier, customer or potential customer of PHI to terminate or modify any<br \/>\nwritten or oral agreement or course of dealing with PHI; or<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(v) <u>Non-Solicitation of Employees<\/u>. Influence or attempt to influence<br \/>\nany person to either (A) terminate or modify any employment, consulting, agency,<br \/>\ndistributorship or other arrangement with PHI, or (B) employ or retain, or<br \/>\narrange to have any other person or entity employ or retain, any person who has<br \/>\nbeen employed or retained by PHI as an employee, consultant, agent or<br \/>\ndistributor of PHI at any time during the Restricted Period. It is understood<br \/>\nthat this sub-paragraph (v) does not prevent the Executive from responding<br \/>\ntruthfully to requests by prospective employers or recruiters for<br \/>\nrecommendations or information concerning any such person&#8217;s performance as an<br \/>\nemployee of PHI , provided that Executive did not initiate such request or refer<br \/>\nsuch person for the employment or retention that is the subject of the request,<br \/>\nand further provided that Executive shall not receive any compensation in any<br \/>\nform as a result of any hiring or retention of such person.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(b) <u>Confidentiality<\/u>. The Executive recognizes and acknowledges that<br \/>\nthe Proprietary Information is a valuable, special and unique asset of the<br \/>\nbusiness of PHI. As a result, both during the period of the Executive&#8217;s<br \/>\nemployment with PHI and thereafter, the Executive shall not, without the prior<br \/>\nwritten consent of PHI , as applicable, for any reason either directly or<br \/>\nindirectly divulge to any third-party or use for his own benefit, or for any<br \/>\npurpose other than the exclusive benefit of PHI , any Proprietary Information<br \/>\nrevealed, obtained or developed in the course of his employment, or engagement<br \/>\nas a consultant, by PHI ; <em>provided, however<\/em>, that nothing herein<br \/>\ncontained shall restrict the Executive&#8217;s ability to make such disclosures during<br \/>\nthe Executive&#8217;s period of employment or engagement with PHI as may be necessary<br \/>\nor appropriate to the effective and efficient discharge of his duties as an<br \/>\nemployee or consultant or as such disclosures may be required by law. If the<br \/>\nExecutive or any of his representatives becomes legally compelled to disclose<br \/>\nany of the Proprietary Information, the Executive will provide PHI with prompt<br \/>\nwritten notice so that the Company may seek a protective order or other<br \/>\nappropriate remedy.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(c) <u>Property<\/u>. All right, title and interest in and to Proprietary<br \/>\nInformation shall be and remain the sole and exclusive property of PHI. During<br \/>\nthe period of employment, and engagement as a consultant, by PHI , the Executive<br \/>\nshall not remove from PHI &#8216;s offices or premises any documents, records,<br \/>\nnotebooks, files, correspondence, reports, memoranda or similar materials of or<br \/>\ncontaining Proprietary Information, or other materials or property of any kind<br \/>\nbelonging to PHI unless necessary or appropriate in accordance with the duties<br \/>\nand responsibilities required by or appropriate for his position and, in the<br \/>\nevent that such materials or property are removed, all of the foregoing shall be<br \/>\nreturned to their proper files or places of safekeeping as promptly as possible<br \/>\nafter the removal shall serve its specific purpose. The Executive shall not<br \/>\nmake, retain, remove and\/or distribute any copies of any of the foregoing for<br \/>\nany reason whatsoever except as may be necessary in the discharge of his<br \/>\nassigned duties and<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p align=\"center\">-3-<\/p>\n<p>\n<img loading=\"lazy\" decoding=\"async\" height=\"10\" width=\"600\" src=\"http:\/\/www.sec.gov\/Archives\/edgar\/data\/8192\/000113597107000030\/image77.gif\">\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>shall not divulge to any third person the nature of and\/or contents of any of<br \/>\nthe foregoing or of any other oral or written information to which he may have<br \/>\naccess or with which for any reason he may become familiar, except as disclosure<br \/>\nshall be necessary in the performance of his duties; and upon the termination of<br \/>\nhis employment with PHI , he shall leave with or return to PHI all originals and<br \/>\ncopies of the foregoing then in his possession, whether prepared by the<br \/>\nExecutive or by others.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(d) <u>Duty to Keep Company Informed<\/u>. In order to ensure that PHI and the<br \/>\nCompany may retain the benefit of the Restrictive Covenants, the Executive<br \/>\nagrees to notify PHI of any employment or retention as consultant that he may<br \/>\nenter into which may be precluded by this Agreement, and to provide specific<br \/>\ninformation upon request regarding the Executive&#8217;s activities. In the event<br \/>\nExecutive provides such notice and information at least 30 days prior to the<br \/>\ncommencement of such employment or consultancy, PHI shall respond to such<br \/>\nExecutive within 30 days (or if later, within 30 days after additional<br \/>\ninformation has been submitted by the Executive in response to a request for<br \/>\nsuch information) regarding the Company&#8217;s initial determination regarding<br \/>\nwhether such employment or consultancy falls within the scope of the Restrictive<br \/>\nCovenants.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>3.2. <u>Acknowledgments<\/u>. The Executive acknowledges that the Restrictive<br \/>\nCovenants are reasonable and necessary to protect the legitimate interests of<br \/>\nPHI and its affiliates and that, in the absence of such restrictions; PHI would<br \/>\nnot enter into this Agreement. Therefore, the Executive acknowledges that the<br \/>\nRestrictive Covenants are entered into in order to induce PHI to make the<br \/>\npayment described in <u>Section 2<\/u>. The Executive further acknowledges that<br \/>\nthe duration and geographic scope of <u>Section 3.1(a)<\/u> are reasonable given<br \/>\nthe nature of PHI&#8217;s business and the position of authority and responsibility<br \/>\nthat the Executive holds within PHI.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>3.3. <u>Rights and Remedies Upon Breach<\/u>.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(a) <u>Specific Enforcement<\/u>. The Executive acknowledges that any breach<br \/>\nby him, willfully or otherwise, of the Restrictive Covenants will cause<br \/>\ncontinuing and irreparable injury to PHI for which monetary damages would not be<br \/>\nan adequate remedy. The Executive shall not, in any action or proceeding to<br \/>\nenforce any of the provisions of this Agreement, assert the claim or defense<br \/>\nthat such an adequate remedy at law exists. In the event of any such breach by<br \/>\nthe Executive, PHI shall have the right to enforce the Restrictive Covenants by<br \/>\nseeking injunctive or other relief in any court, without any requirement that a<br \/>\nbond or other security be posted, and this Agreement shall not in any way limit<br \/>\nremedies of law or in equity otherwise available to PHI . If an action at law or<br \/>\nin equity is necessary to enforce or interpret the terms of this Agreement, the<br \/>\nprevailing party shall be entitled to recover, in addition to any other relief,<br \/>\nreasonable attorneys&#8217; fees, costs and disbursements.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(b) <u>Extension of Restrictive Period<\/u>. If the Executive breaches any of<br \/>\nthe Restrictive Covenants contained in <u>Section 3.1(a)<\/u>, then the<br \/>\nRestricted Period shall be extended for a period of time equal to the period of<br \/>\ntime that the Executive is in breach of such restriction.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(c) <u>Return of Payment and Accounting<\/u>. If the Executive engages in a<br \/>\nmaterial breach of any of the Restrictive Covenants, the Executive will be<br \/>\nrequired to return the payment described in <u>Section 2<\/u> above, plus<br \/>\ninterest accruing from the date of payment to the<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p align=\"center\">-4-<\/p>\n<p>\n<img loading=\"lazy\" decoding=\"async\" height=\"10\" width=\"600\" src=\"http:\/\/www.sec.gov\/Archives\/edgar\/data\/8192\/000113597107000030\/image77.gif\">\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>Executive to the date of such repayment at a rate of 2% above the prime rate,<br \/>\nas determined by PHI, to PHI, and PHI will have the right and remedy to require<br \/>\nthe Executive to account for and pay over to PHI all compensation, profits,<br \/>\nmonies, accruals, increments or other benefits derived or received by the<br \/>\nExecutive as the result of any action constituting a breach of the Restrictive<br \/>\nCovenants. These rights and remedies will be in addition to, and not in lieu of,<br \/>\nany other rights and remedies available to PHI under law or in equity.<br \/>\nNotwithstanding the foregoing, no return of payment will be required unless (i)<br \/>\nthe damages caused by the breach are significant and proportionate to the<br \/>\npenalty hereunder, or (ii) the Executive fails to cease and remedy the breaching<br \/>\nactivity within thirty (30) days after receiving notice from PHI indicating the<br \/>\nmanner in which the breach has occurred and demanding such cessation and<br \/>\nremediation.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>3.4. <u>Judicial Modification<\/u>. If any court determines that the<br \/>\nRestrictive Covenants or any part thereof, is unenforceable because of the<br \/>\nduration or geographical scope of such provision, such court shall have the<br \/>\npower to modify such provision and, in its modified form, such provision shall<br \/>\nthen be enforceable.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>3.5. <u>Disclosure of Restrictive Covenants<\/u>. The Executive agrees to<br \/>\ndisclose the existence and terms of the restrictive covenants set forth in this<br \/>\n<u>Section 3<\/u> to any employer that the Executive may work for during the<br \/>\nRestricted Period which is in a Competing Business.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>3.6. <u>Enforceability<\/u>. If any court holds the Restrictive Covenants<br \/>\nunenforceable by reason of their breadth or scope or otherwise, it is the<br \/>\nintention of the parties hereto that such determination not bar or in any way<br \/>\naffect the right of PHI to the relief provided above in the courts of any other<br \/>\njurisdiction within the geographical scope of such Restrictive Covenants.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>SECTION 4. <u>Miscellaneous<\/u>.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>4.1. <u>Successors and Assigns<\/u>. This Agreement shall inure to the benefit<br \/>\nof and be binding upon PHI and the Executive and their respective successors,<br \/>\nexecutors, administrators, heirs and\/or permitted assigns; <em>provided,<br \/>\nhowever<\/em>, that neither the Executive nor PHI may make any assignments of<br \/>\nthis Agreement or any interest herein, by operation of law or otherwise, without<br \/>\nthe prior written consent of the other party, except that, without such consent,<br \/>\nPHI may assign this Agreement to any successor to all or substantially all of<br \/>\nits assets and business by means of liquidation, dissolution, merger,<br \/>\nconsolidation, transfer of assets, or otherwise.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>4.2. <u>Notice<\/u>. Any notice or communication required or permitted under<br \/>\nthis Agreement shall be made in writing and (a) sent by overnight courier, (b)<br \/>\nmailed by certified or registered mail, return receipt requested or (c) sent by<br \/>\ntelecopier, addressed as follows:<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"23%\" valign=\"top\"><\/td>\n<td colspan=\"3\" width=\"77%\" valign=\"top\">\n<p>If to the Executive:<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"23%\" valign=\"top\"><\/td>\n<td colspan=\"3\" width=\"77%\" valign=\"top\">\n<p>Eddie R. Mayberry <br \/>\n115 N. Lee St. <br \/>\n# BH 401 <br \/>\nAlexandria, VA 22314<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p align=\"center\">-5-<\/p>\n<p>\n<img loading=\"lazy\" decoding=\"async\" height=\"10\" width=\"600\" src=\"http:\/\/www.sec.gov\/Archives\/edgar\/data\/8192\/000113597107000030\/image77.gif\">\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"23%\" valign=\"top\"><\/td>\n<td colspan=\"3\" width=\"77%\" valign=\"top\"><\/td>\n<\/tr>\n<tr>\n<td width=\"23%\" valign=\"top\"><\/td>\n<td colspan=\"3\" width=\"77%\" valign=\"top\">\n<p>If to PHI:<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"23%\" valign=\"top\"><\/td>\n<td colspan=\"3\" width=\"77%\" valign=\"top\">\n<p>Pepco Holdings Inc. <br \/>\nGeneral Counsel <br \/>\n701 Ninth St. N.W. <br \/>\nWashington, D.C. 20068<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>or to such other address as either party may from time to time duly specify<br \/>\nby notice given to the other party in the manner specified above.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>4.3. <u>Entire Agreement; Amendments<\/u>. This Agreement contains the entire<br \/>\nagreement and understanding of the parties hereto relating to the subject matter<br \/>\nhereof, and merges and supersedes all prior and contemporaneous discussions,<br \/>\nagreements and understandings of every nature relating to the subject matter<br \/>\nhereof. This Agreement may not be changed or modified, except by an Agreement in<br \/>\nwriting signed by each of the parties hereto.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>4.4. <u>Waiver<\/u>. Any waiver by either party of any breach of any term or<br \/>\ncondition in this Agreement shall not operate as a waiver of any other breach of<br \/>\nsuch term or condition or of any other term or condition, nor shall any failure<br \/>\nto enforce any provision hereof operate as a waiver of such provision or of any<br \/>\nother provision hereof or constitute or be deemed a waiver or release of any<br \/>\nother rights, in law or in equity.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>4.5. <u>Governing Law<\/u>. This Agreement shall be governed by, and enforced<br \/>\nin accordance with, the laws of the Delaware without regard to the application<br \/>\nof the principles of conflicts of laws.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>4.6. <u>Severability<\/u>. Whenever possible, each provision of this Agreement<br \/>\nwill be interpreted in such manner as to be effective and valid under applicable<br \/>\nlaw, but if any provision of this Agreement is held to be invalid, illegal or<br \/>\nunenforceable in any respect under any applicable law or rule in any<br \/>\njurisdiction, such invalidity, illegality or unenforceability will not affect<br \/>\nany other provision or the effectiveness or validity of any provision in any<br \/>\nother jurisdiction, and this Agreement will be reformed, construed and enforced<br \/>\nin such jurisdiction as if such invalid, illegal or unenforceable provision had<br \/>\nnever been contained herein.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>4.7. <u>Section Headings<\/u>. The section headings in this Agreement are for<br \/>\nconvenience only; they form no part of this Agreement and shall not affect its<br \/>\ninterpretation.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>4.8. <u>Consent to Arbitration; Fees<\/u>.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(a) Except as otherwise provided in this Agreement, any controversy, claim,<br \/>\nor dispute between the parties related to or arising out of this Agreement shall<br \/>\nbe finally settled by arbitration, conducted on a confidential basis, under the<br \/>\nU.S. Arbitration Act, if applicable, and the then current rules of the American<br \/>\nArbitration Association (&#8220;Association&#8221;) strictly in accordance with the terms of<br \/>\nthis Agreement and the laws of the State of Delaware, excluding its principles<br \/>\nof conflicts of laws.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(b) The Executive and PHI hereby consent to the personal and exclusive<br \/>\njurisdiction of such arbitration and hereby waive any objection that the<br \/>\nExecutive or PHI may<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p align=\"center\">-6-<\/p>\n<p>\n<img loading=\"lazy\" decoding=\"async\" height=\"10\" width=\"600\" src=\"http:\/\/www.sec.gov\/Archives\/edgar\/data\/8192\/000113597107000030\/image77.gif\">\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>have to personal jurisdiction, the laying of venue of any such proceeding and<br \/>\nany claim or defense of inconvenient forum.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(c) Neither party shall be excluded from seeking provisional remedies in the<br \/>\ncourts of any jurisdiction including but not limited to, temporary restraining<br \/>\norders and preliminary injunctions, but such remedies shall not be sought as a<br \/>\nmeans to avoid or stay arbitration.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>(d) In the event of any legal proceeding arising out of or relating to the<br \/>\nenforcement or interpretation of this Agreement, the party prevailing in such<br \/>\nproceeding shall be entitled to payment from the other party of all reasonable<br \/>\nattorneys&#8217; fees, costs and disbursements incurred by the prevailing party in<br \/>\nconnection with such proceeding.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>4.9. <u>Counterparts and Facsimiles<\/u>. This Agreement may be executed,<br \/>\nincluding execution by facsimile signature, in one or more counterparts, each of<br \/>\nwhich shall be deemed an original, and all of which together shall be deemed to<br \/>\nbe one and the same instrument.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p>IN WITNESS WHEREOF, PHI has caused this Agreement to be executed by its duly<br \/>\nauthorized officers, and the Executive has executed this Agreement, in each case<br \/>\nas of the date first above written.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"38%\" valign=\"top\"><\/td>\n<td width=\"8%\" valign=\"top\"><\/td>\n<td width=\"54%\" valign=\"top\">\n<p>Pepco Holdings Inc.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"38%\" valign=\"top\"><\/td>\n<td width=\"8%\" valign=\"top\">\n<p>By:<\/p>\n<\/td>\n<td width=\"54%\" valign=\"top\"><u> <\/u><\/p>\n<p>\/s\/ D. R. WRAASE<\/p>\n<p><u><\/u><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"38%\" valign=\"top\"><\/td>\n<td width=\"8%\" valign=\"top\">\n<p>Title:<\/p>\n<\/td>\n<td width=\"54%\" valign=\"top\">\n<p>Chairman, President, and Chief Executive Officer<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"38%\" valign=\"top\"><\/td>\n<td width=\"8%\" valign=\"top\"><\/td>\n<td width=\"54%\" valign=\"top\">\n<p>Eddie R. Mayberry<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" width=\"38%\" valign=\"top\"><\/td>\n<td width=\"8%\" valign=\"top\"><\/td>\n<td width=\"54%\" valign=\"top\"><u> <\/u><\/p>\n<p>\/s\/ E. R. Mayberry<\/p>\n<p><u><\/u><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" valign=\"top\">\n<p align=\"center\">-7-<\/p>\n<p>\n<img loading=\"lazy\" decoding=\"async\" height=\"10\" width=\"600\" src=\"http:\/\/www.sec.gov\/Archives\/edgar\/data\/8192\/000113597107000030\/image77.gif\">\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8556],"corporate_contracts_industries":[9534],"corporate_contracts_types":[9553,9558],"class_list":["post-40844","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-potomac-electric-power-co","corporate_contracts_industries-utilities__electric","corporate_contracts_types-corporate","corporate_contracts_types-corporate__nondisclose"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=40844"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40844"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40844"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}