Comcast 2012 Annual Report Download - page 154

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, Director Emeritus 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,
Director Emeritus or Eligible Employee for such calendar year pursuant to such Outside Director’s, Director Emeritus’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, Director
Emeritus’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, Director Emeritus’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).
(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.
3.2. Filing of Initial Election: General
. An Initial Election shall be made on the form provided by the Administrator for this purpose. Except
as provided in Section 3.3, no such Initial Election shall be effective with respect to Compensation other than Performance-Based Compensation
unless it is filed with the Administrator on or before December 31 of the calendar year preceding the calendar year to which the Initial Election
applies. No such Initial Election shall be effective with respect to Performance-Based Compensation unless it is filed with the Administrator at
least six months before the end of the Performance Period during which such Performance-Based Compensation may be earned.
3.3. Filing of Initial Election by New Key Employees and New Outside Directors .
(a) New Key Employees . Notwithstanding Section 3.1 and Section 3.2, a New Key Employee may file an Initial Election to defer
Compensation payable for services to be performed after the date of such Initial Election. An Initial Election must be filed with the Administrator
within 30 days of the date such New Key Employee first becomes eligible to participate in the Plan. An Initial Election by such New Key
Employee for succeeding calendar years may be made in accordance with Section 3.1 and Section 3.2.
(b) New Outside Directors . Notwithstanding Section 3.1 and Section 3.2, an Outside Director may elect to defer Compensation by
filing an Initial Election with respect to his Compensation attributable to services provided as an Outside Director in the calendar year in which an
Outside Director’s election as a member of the Board becomes effective (provided that such Outside Director is not a member of the Board
immediately preceding such effective date), beginning with Compensation earned following the filing of an Initial Election with the Administrator
and before the close of such calendar year. Such Initial
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