Comcast 2010 Annual Report Download - page 127

to make Initial Elections with respect to calendar years beginning after 2010, provided that they are otherwise so eligible under the rules of the
Plan other than this Section 3(a)(ii):
(A) For 2011, except as otherwise provided by the Committee, (x) a “First Day Employee”
of NBC Universal who
was an Eligible Employee as of December 31, 2010 and who, on or before December 31, 2010, has not filed an “Opt-In Election” with the
Committee or its delegate and (y) an employee of NBC Universal other than a “First Day Employee,” who was an Eligible Employee as of
December 31, 2010 and (z) an employee of NBC Universal who (I) becomes a New Key Employee in 2011 and (II) is assigned to a payroll of
Comcast Corporation, as determined by the Committee or its delegate.
(B) For years beginning after 2011, except as otherwise provided by the Committee, (x) an employee of NBC
Universal other than a First-Day Employee who (I) is an Eligible Employee as of December 31, 2011 and (II) on or before December 31, 2011,
has not filed an “Opt-In Election” with the Committee or its delegate and (y) an employee of NBC Universal who (I) is an Eligible Employee as
of December 31 of any year beginning after 2011, (II) transferred employment to NBC Universal directly from the Company or a Subsidiary
other than NBC Universal and (III) on or before December 31 of the year such transfer of employment becomes effective, has not filed an
“Opt-In Election” with the Committee or its delegate.
(iii) Special Definitions and Rules Applicable to NBC Universal . For purposes of Section 3(a)(ii):
(A) A “First Day Employee” is an individual who is an Eligible Employee as of December 31, 2010 and who has
been designated by the Committee or its delegate as an employee who is expected to have senior leadership responsibilities for NBC Universal
effective on the Closing or shortly thereafter in a capacity that is different from the capacity in which such employee served immediately before
the Closing.
(B) An “Opt-In Election” is an irrevocable one-time election by an Eligible Employee on a form approved by the
Committee or its delegate to become a Participant in one or more retirement or deferred compensation arrangements expected to be sponsored
for the benefit of employees of NBC Universal, as may be designated by the Committee or its delegate, effective for years beginning after the
date of such Opt-In Election. For avoidance of doubt, all individuals who have filed an Opt-In Election shall be treated as an Active Participant
for all other purposes of the Plan with respect such individual’
s Account, if any, including but not limited to the provisions of the Plan relating to
Subsequent Elections, and shall be treated as actively employed for purposes of the definition of the term “Applicable Interest Rate” until such
individual ceases to be employed by the Company or an Affiliate.
(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.
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