Comcast 2009 Annual Report Download - page 148

ARTICLE 3 – INITIAL AND SUBSEQUENT ELECTIONS
3.1. Elections .
(a) Initial Elections . Each Outside Director and Eligible Employee shall have the right to defer Compensation by filing an Initial
Election with respect to Compensation that he would otherwise be entitled to receive for a calendar year at the time and in the manner
described in this Article 3. 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 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.
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 with respect to Compensation other than Performance-Based
Compensation 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. No such Initial Election shall be effective with respect to Performance-Based Compensation unless it is filed with the
Administrator at least six months before the end of the Performance Period during which such Performance-
Based Compensation may be earned.
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 Compensation by
filing an Initial Election with respect to (i) base salary portion of his Compensation that he would otherwise be entitled to receive based on
services performed in the calendar year in which the New Key Employee was hired or promoted, beginning with the payroll period next
following the filing of an Initial Election with the Administrator and before the close of such calendar year, and (ii) the Performance-
Based
Compensation that he would otherwise be entitled to receive based on services performed for Performance Periods that include the
calendar year in which the New Key Employee was hired or promoted and after the filing of the Initial Election. Such Initial Election must
be filed with the Administrator within 30 days of such New Key Employee’s date of hire or
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