Comcast 2010 Annual Report Download - page 225

(ii) Any expenditures of the Company described in Section 705(a)(2)(B) of the Code or treated as expenditures described in
Section 705(a)(2)(B) of the Code pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(i) and not otherwise taken into account in
computing Profit or Loss shall be subtracted from such taxable income or loss;
(iii) In the event Gross Asset Value of any asset of the Company is adjusted pursuant to subparagraphs (ii), (iii), or (iv) of the
definition of Gross Asset Value, the amount of such adjustment shall be taken into account as gain or loss from the disposition of such
asset for purposes of computing Profit or Loss;
(iv) In lieu of the depreciation, amortization, and other cost recovery deductions taken into account in computing such taxable
income or loss, there shall be taken into account Depreciation for such Tax Year;
(v) Gain or loss resulting from any disposition of property with respect to which gain or loss is recognized for federal income tax
purposes shall be computed by reference to the Gross Asset Value of the property disposed of (adjusted for accumulated Depreciation with
respect to such property), notwithstanding that the adjusted tax basis of such property differs from its Gross Asset Value; and
(vi) Notwithstanding any other provision of this definition, any items which are specially allocated pursuant to Section 8.01(c) or
12.05(b) hereof shall not be taken into account in computing net Profit or net Loss. The amounts of items of Company income, gain, loss
or deduction available to be specially allocated pursuant to Section 8.01(c) or 12.05(a) hereof shall be determined by applying rules
analogous to those set forth in subparagraphs (i) through (v) above.
“ Public Market Value ” means (i) prior to an IPO, an amount equal to Fully Distributed Public Market Value and (ii) following an IPO,
the aggregate common equity market value of the Company based on the average of the daily volume weighted average per share trading prices
of Common Stock on the primary exchange or market on which it trades for the 20 trading days ending on the second trading day immediately
preceding the closing of the applicable purchase transaction or such other date as provided in this Agreement.
“ Public Offering ” means an underwritten public offering of Registrable Securities pursuant to an effective registration statement under
the Securities Act, other than pursuant to a registration statement on Form S-4 or Form S-8 or any similar or successor form.
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