Comcast 2010 Annual Report Download - page 126

2.40. “ Severance Pay ” means any amount that is payable in cash and is identified by a Participating Company as severance pay, or
any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to
report for work for a Participating Company.
2.41. “ 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 the time of payment of amounts previously deferred
in accordance with the terms of a previously made Initial Election or Subsequent Election.
2.42. “ Surviving Spouse ” means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary
(as applicable).
2.43. “ 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 .
(i) In General . 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).
(ii) Employees of NBC Universal, LLC and its Subsidiaries . Effective and contingent upon the closing (the “Closing”)
of the transactions contemplated by the Master Agreement, NBC Universal, LLC and its subsidiaries (collectively, “NBC Universal”) shall be
Participating Companies, provided that employees of NBC Universal who are “Eligible Employees” shall be eligible to make Initial Elections
under the Plan only to the extent provided in this Section 3(a)(ii). For this purpose, the term “Master Agreement” means the Master Agreement,
dated as of December 3, 2009, by and among: General Electric Company, a New York corporation; NBC Universal, Inc, a Delaware
corporation; Comcast; and, Navy, LLC, a Delaware limited liability company. The following employees of NBC Universal shall be eligible
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