Comcast 2009 Annual Report Download - page 149

within 30 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 Compensation by
filing an Initial Election with respect to his Compensation attributable to services provided as an Outside Director 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 earned following the filing of an Initial Election with
the Administrator and before the close of such calendar year. Such Initial Election must be filed with the Administrator within 30 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 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 (to the extent permitted under Section 409A) pursuant to Section 3.5(e), Section 3.7, Section 7.1,
Section 7.2, or Article 8, no distribution may commence earlier than January 2nd of the second calendar year beginning after the date the
compensation subject to the Initial Election would be paid but for the Initial Election, nor later than January 2nd of the tenth calendar year
beginning after the date the date the compensation subject to the Initial Election would be paid but for the Initial Election. Further, each
Outside Director or Eligible Employee may select with each Initial Election the manner of distribution in accordance with Article 4.
3.5. Subsequent Elections and Elections to Accelerate Payment on Death or Disability . No Subsequent Election shall be effective
until 12 months after the date on which such Subsequent Election is made.
(a) Active Participants . Each Active Participant, who has made an Initial Election, or who has made a Subsequent Election, may
elect to defer the time of payment of any part or all of such Participant’s Account for a minimum of five and a maximum of ten additional
years from the previously-elected payment date, by filing a Subsequent Election with the Administrator at least 12 months before the lump-
sum distribution or initial installment payment would otherwise be made. The number of Subsequent Elections under this Section 3.5(a)
shall not be limited.
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