Comcast 2009 Annual Report Download - page 126

2.43. “ Subsequent Election ” means a written election on a form provided by the Administrator, filed with the Administrator in
accordance with Article 3, pursuant to which a Participant or Beneficiary may elect to defer (or, in limited cases, accelerate) the time of payment
or to change the manner of payment of amounts previously deferred in accordance with the terms of a previously made Initial Election or
Subsequent Election.
2.44. “ Surviving Spouse ” means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary
(as applicable).
2.45. “ Terminating Event ” means either of the following events:
(a) the liquidation of the Company; or
(b) a Change of Control.
2.46. “ Third Party ” means any Person, together with such Person’s Affiliates, provided that the term “Third Party” shall not include
the Company or an Affiliate of the Company.
ARTICLE 3 – INITIAL AND SUBSEQUENT ELECTIONS
3.1. Elections .
(a) Initial Elections . Each Outside Director and Eligible Employee shall have the right to defer all or any portion of the
Compensation (including bonuses, if any, and, in the case of Outside Directors, including any portion of an Outside Director’s
Compensation payable in the form of Company Stock) that he would otherwise be entitled to receive in a calendar year by filing an Initial
Election at the time and in the manner described in this Article 3; provided that Severance Pay shall be included as “Compensation” for
purposes of this Section 3.1 only to the extent permitted, and subject to such rules regarding the length of any initial deferral period and
subsequent deferral period, if any, established by the Administrator in its sole discretion. The Compensation of such Outside Director or
Eligible Employee for a calendar year shall be reduced in an amount equal to the portion of the Compensation deferred by such Outside
Director or Eligible Employee for such calendar year pursuant to such Outside Director’s or Eligible Employee’s Initial Election. Such
reduction shall be effected on a pro rata basis from each periodic installment payment of such Outside Director’s or Eligible Employee’s
Compensation for the calendar year (in accordance with the general pay practices of the Participating Company), and credited, as a
bookkeeping entry, to such Outside Director’s or Eligible Employee’s Account in accordance with Section 5.1. Amounts credited to the
Accounts of Outside Directors in the form of Company Stock shall be credited to the Company Stock Fund and credited with income,
gains and losses in accordance with Section 5.2(c).
(b) Subsequent Elections . Each Participant or Beneficiary shall have the right to elect to defer (or, in limited cases, accelerate) the
time of payment or to change the manner of payment of amounts previously deferred in accordance with the terms of a previously made
Initial Election pursuant to the terms of the Plan by filing a Subsequent Election at the time, to the extent, and in the manner described in
this Article 3.
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