Comcast 2009 Annual Report Download - page 127

3.2. Filing of Initial Election: General . An Initial Election shall be made on the form provided by the Administrator for this purpose.
Except as provided in Section 3.3, no such Initial Election shall be effective unless it is filed with the Administrator on or before December 31 of
the calendar year preceding the calendar year to which the Initial Election applies; provided that an Initial Election with respect to Severance Pay
shall not be effective unless it is filed within 30 days following the date of written notification to an Eligible Employee from the Administrator or
its duly authorized delegate of such Eligible Employee’s eligibility to defer Severance Pay.
3.3. Filing of Initial Election by New Key Employees and New Outside Directors .
(a) New Key Employees
. Notwithstanding Section 3.1 and Section 3.2, a New Key Employee may elect to defer all or any portion of
his Compensation that he would otherwise be entitled to receive in the calendar year in which the New Key Employee was employed,
beginning with the payroll period next following the filing of an Initial Election with the Administrator and before the close of such
calendar year by making and filing the Initial Election with the Administrator within 60 days of such New Key Employee’s date of hire or
within 60 days of the date such New Key Employee first becomes eligible to participate in the Plan. Any Initial Election by such New Key
Employee for succeeding calendar years shall be made in accordance with Section 3.1 and Section 3.2.
(b) New Outside Directors
. Notwithstanding Section 3.1 and Section 3.2, an Outside Director may elect to defer all or any portion of
his Compensation that he would otherwise be entitled to receive in the calendar year in which an Outside Director’s election as a member
of the Board becomes effective (provided that such Outside Director is not a member of the Board immediately preceding such effective
date), beginning with Compensation payable following the filing of an Initial Election with the Administrator and before the close of such
calendar year by making and filing the Initial Election with the Administrator within 60 days of the effective date of such Outside
Director’s election. Any Initial Election by such Outside Director for succeeding calendar years shall be made in accordance with
Section 3.1 and Section 3.2
3.4. Calendar Years to which Initial Election May Apply
. A separate Initial Election may be made for each calendar year as to which
an Outside Director or Eligible Employee desires to defer all or any portion of such Outside Director’s or Eligible Employee’s Compensation.
The failure of an Outside Director or Eligible Employee to make an Initial Election for any calendar year shall not affect such Outside Director’s
or Eligible Employee’s right to make an Initial Election for any other calendar year.
(a) Initial Election of Distribution Date . Each Outside Director or Eligible Employee shall, contemporaneously with an Initial
Election, also elect the time of payment of the amount of the deferred Compensation to which such Initial Election relates; provided,
however, that, subject to acceleration pursuant to Section 3.5(e) or (f), Section 3.7, Section 7.1, 7.2, or Article 8, no distribution may
commence earlier than January 2nd of the second calendar year beginning after the date the Initial Election is filed with the Administrator,
nor later than January 2nd of the eleventh calendar year beginning after the date the Initial
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