Comcast 2012 Annual Report Download - page 150

(ii) Designate the time of payment of the amount of deferred Compensation to which the Initial Election relates.
(iii) Effective for Eligible NBCU Employees with respect to Compensation earned after December 31, 2012, and with respect
to all Eligible Employees with respect to Compensation earned after December 31, 2013, the following rules shall apply to Initial Elections:
(A) Subject to the limits on deferrals of Compensation described in Section 2.32(iii)(B) and Section 2.32(iii)(C), (x) the
maximum amount of base salary available for deferral shall be determined net of required withholdings and deductions as determined by the
Administrator in its sole discretion, but shall in no event be less than 85% of the Participant’s base salary and (y) the maximum amount of a
Signing Bonus available for deferral pursuant to an Initial Election shall not exceed 50%.
(B) The maximum amount subject to Initial Elections for any Plan Year shall not exceed 35% of Total Compensation.
(C) No Initial Election with respect to Compensation expected to be earned in a Plan Year shall be effective if the sum of
(x) the value of the Eligible Employee’s Account in the Plan, plus (y) the value of the Eligible Employee’s Account in the Prior Plan, plus (z) the
value of the Eligible Employee’s Account in the Comcast Corporation 2002 Restricted Stock Plan (or any successor plan) to the extent such
Account is credited to the “Income Fund” thereunder, exceeds the Contribution Limit with respect to such Plan Year, determined as of
September 30 immediately preceding such Plan Year.
2.33. “ NBCUniversal ” means NBCUniversal, LLC and its subsidiaries.
2.34. “ New Key Employee ” means:
(a) Effective before January 1, 2014, and except as provided in Section 2.34(d), each employee of a Participating Company other than
NBCUniversal:
(i) who becomes an employee of a Participating Company and has an Annual Rate of Pay of $200,000 or more as of his
employment commencement date, or
(ii) who has an Annual Rate of Pay that is increased to $200,000 or more and who, immediately preceding such increase, was
not an Eligible Employee.
(b) Effective after December 31, 2013, and except as provided in Section 2.34(d), each employee of a Participating Company other
than NBCUniversal:
(i) who becomes an employee of a Participating Company and has an Annual Rate of Pay of $250,000 or more as of his
employment commencement date, or
(ii) who has an Annual Rate of Pay that is increased to $250,000 or more and who, immediately preceding such increase, was
not an Eligible Employee.
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