Comcast 2012 Annual Report Download - page 142

2.2. “ Active Participant ” means:
(a) Each Participant who is in active service as an Outside Director or a Director Emeritus; and
(b) Each Participant who is actively employed by a Participating Company as an Eligible Employee.
2.3. “ Administrator ” means the Committee or its delegate.
2.4. “ Affiliate ” means, with respect to any Person, any other Person that, directly or indirectly, is in control of, is controlled by, or is under
common control with, such Person. For purposes of this definition, the term “control,” including its correlative terms “controlled by” and “under
common control with,” mean, with respect to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise.
2.5. “ Annual Rate of Pay ” means, as of any date, an employee’s annualized base pay rate. An employee’s Annual Rate of Pay shall not
include sales commissions or other similar payments or awards, including payments earned under any sales incentive arrangement for employees
of NBCUniversal (as defined in Section 3.1(a)(ii)).
2.6. “ Applicable Interest Rate .”
(a) Active Participants .
(i) Protected Account Balances . Except as otherwise provided in Sections 2.6(b), with respect to Protected Account Balances,
the term “Applicable Interest Rate,” means the interest rate that, when compounded daily pursuant to rules established by the Administrator from
time to time, is mathematically equivalent to 12% (0.12) per annum, compounded annually.
(ii) Contributions Credited on and after January 1, 2014 (on and after January 1, 2013 for Eligible NBCUniversal Employees) .
Except as otherwise provided in Sections 2.6(b):
(A) For amounts (other than Protected Account Balances) credited to Accounts of Eligible Comcast Employees, Outside
Directors and Directors Emeriti with respect to Compensation earned on and after January 1, 2014 or pursuant to Section 3.8, and for amounts
credited pursuant to Subsequent Elections filed on and after January 1, 2014 that are attributable to such amounts, the term “Applicable Interest
Rate,” means the interest rate that, when compounded daily pursuant to rules established by the Administrator from time to time, is
mathematically equivalent to 9% (0.09) per annum, compounded annually.
(B) For amounts credited to Accounts of Eligible NBCUniversal Employees on and after January 1, 2013 and for
amounts credited pursuant to Subsequent Elections filed after December 31, 2012 that are attributable to amounts credited to Accounts pursuant to
Initial Elections filed with respect to Compensation earned after December 31, 2012, the term “Applicable Interest Rate,” means the interest rate
that, when compounded daily pursuant to rules established by the Administrator from time to time, is mathematically equivalent to 9% (0.09) per
annum, compounded annually.
(b) Effective for the period beginning as soon as administratively practicable following a Participant’
s employment termination date to
the date the Participant’s Account is distributed in full, the Administrator, in its sole discretion, may designate the term “Applicable Interest Rate”
for such Participant’s Account to mean the lesser of (i) the rate in effect under Section 2.6(a) or (ii) the Prime Rate plus one percent.
Notwithstanding the foregoing, the Administrator may delegate its authority to determine the Applicable Interest Rate under this Section 2.6(b) to
an officer of the Company or committee of two or more officers of the Company.
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