Comcast 2009 Annual Report Download - page 180

sole and absolute discretion, the following percentage of the Grantee’s Account credited to the Income Fund and attributable to such
Diversification Election shall be distributed simultaneously with such Shares, without regard to any election to the contrary:
(m) Grantees’ Status as General Creditors . A Grantee’s right to delivery of Shares subject to an Election under this Paragraph 8, or to
amounts deemed invested in the Income Fund pursuant to a Diversification Election, shall at all times represent the general obligation of the
Company. The Grantee shall be a general creditor of the Company with respect to this obligation, and shall not have a secured or preferred
position with respect to such obligation. Nothing contained in the Plan or an Award shall be deemed to create an escrow, trust, custodial account
or fiduciary relationship of any kind. Nothing contained in the Plan or an Award shall be construed to eliminate any priority or preferred position
of a Grantee in a bankruptcy matter with respect to claims for wages.
(n) Non-Assignability, Etc . The right of a Grantee to receive Shares subject to an Election under this Paragraph 8, or to amounts deemed
invested in the Income Fund pursuant to a Diversification Election, shall not be subject in any manner to attachment or other legal process for the
debts of such Grantee; and no right to receive Shares or cash payments hereunder shall be subject to anticipation, alienation, sale, transfer,
assignment or encumbrance.
(o) Required Suspension of Payment of Benefits . Notwithstanding any provision of the Plan or any Grantee’s election as to the date or
time of payment of any benefit payable under the Plan, To the extent compliance with the requirements of Treas. Reg. § 1.409A-3(i)(2) (or any
successor provision) is necessary to avoid the application of an additional tax under Section 409A to payments due to the Grantee upon or
following his separation from service, then notwithstanding any other provision of this
-
20
-
Time that Shares are Distributable
Distributable Percentage of
Corresponding Income Fund Amount
On or before the third anniversary of a
Diversification Election
60
%
After the third anniversary of a
Diversification Election and on or
before the fourth anniversary of a
Diversification Election
40
%
After the fourth anniversary of a
Diversification Election and on or
before the fifth anniversary of a
Diversification Election
20
%
After the fifth anniversary of a
Diversification Election
0
%