Comcast 2009 Annual Report Download - page 119

(b) Each Participant who is actively employed by a Participating Company as an Eligible Employee.
2.3. “ Administrator ” means the Committee.
2.4. “ Affiliate ”
means, with respect to any Person, any other Person that, directly or indirectly, is in control of, is controlled by, or is
under common control with, such Person. For purposes of this definition, the term “control,” including its correlative terms “controlled by” and
“under common control with,” mean, with respect to any Person, the possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise.
2.5. “ Annual Rate of Pay ” means, as of any date, an employee’s annualized base pay rate. An employee’s Annual Rate of Pay shall
not include sales commissions or other similar payments or awards.
2.6. “ Applicable Interest Rate ” means:
(a) Except as otherwise provided in Sections 2.6(b) or (c), the Applicable Interest Rate means the interest rate that, when
compounded daily pursuant to rules established by the Administrator from time to time, is mathematically equivalent to 12% per annum,
compounded annually.
(b) Except to the extent otherwise required by Section 10.2, effective for the period beginning as soon as administratively practicable
following a Participant’s employment termination date to the date the Participant’s Account is distributed in full, the Administrator, in its
sole discretion, may designate the term “Applicable Interest Rate” for such Participant’s Account to mean the lesser of (i) the rate in effect
under Section 2.6(a) or (ii) the Prime Rate plus one percent. Notwithstanding the foregoing, the Administrator may delegate its authority to
determine the Applicable Interest Rate under this Section 2.6(b) to an officer of the Company or committee of two or more officers of the
Company.
(c) Except to the extent otherwise required by Section 10.2, the Applicable Interest Rate for Severance Pay deferred pursuant to
Article 3 shall be determined by the Administrator, in its sole discretion, provided that the Applicable Interest Rate shall not be less than
the lower of the Prime Rate or LIBOR, nor more than the rate specified in Section 2.6(a). Notwithstanding the foregoing, the Administrator
may delegate its authority to determine the Applicable Interest Rate under this Section 2.6(c) to an officer of the Company.
2.7. “ Beneficiary ” means such person or persons or legal entity or entities, including, but not limited to, an organization exempt
from federal income tax under section 501(c)(3) of the Code, designated by a Participant or Beneficiary to receive benefits pursuant to the terms
of the Plan after such Participant’s or Beneficiary’s death. If no Beneficiary is designated by the Participant or Beneficiary, or if no Beneficiary
survives the Participant or Beneficiary (as the case may be), the Participant’s Beneficiary shall be the Participant’s Surviving Spouse if the
Participant has a Surviving Spouse and otherwise the Participant’s estate, and the Beneficiary of a Beneficiary shall be the Beneficiary’s
Surviving Spouse if the Beneficiary has a Surviving Spouse and otherwise the Beneficiary’s estate.
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