Comcast 2012 Annual Report Download - page 155

Election must be filed with the Administrator within 30 days of the effective date of such Outside Director’
s election. Any Initial Election by such
Outside Director for succeeding calendar years shall be made in accordance with Section 3.1 and Section 3.2
3.4. Calendar Years to which Initial Election May Apply .
(a) Separate Initial Elections for Each Calendar Year . A separate Initial Election may be made for each calendar year as to which an
Outside Director, Director Emeritus or Eligible Employee desires to defer such Outside Director’s, Director Emeritus’s or Eligible Employee’s
Compensation. The failure of an Outside Director, Director Emeritus or Eligible Employee to make an Initial Election for any calendar year shall
not affect such Outside Director’s or Eligible Employee’s right to make an Initial Election for any other calendar year.
(b) Initial Election of Distribution Date . Each Outside Director, Director Emeritus or Eligible Employee shall, contemporaneously
with an Initial Election, also elect the time of payment of the amount of the deferred Compensation to which such Initial Election relates;
provided, however, that, except as otherwise specifically provided by the Plan, no distribution may commence earlier than January 2nd of the
second calendar year beginning after the date the compensation subject to the Initial Election would be paid but for the Initial Election, nor later
than January 2nd of the tenth calendar year beginning after the date the date the compensation subject to the Initial Election would be paid but for
the Initial Election. Further, each Outside Director, Director Emeritus or Eligible Employee may select with each Initial Election the manner of
distribution in accordance with Article 4.
3.5. Subsequent Elections . No Subsequent Election shall be effective until 12 months after the date on which such Subsequent Election is
made.
(a) Active Participants . Each Active Participant, who has made an Initial Election, or who has made a Subsequent Election, may elect
to defer the time of payment of any part or all of such Participant’s Account for a minimum of five and a maximum of ten additional years from
the previously-elected payment date, by filing a Subsequent Election with the Administrator at least 12 months before the lump-sum distribution
or initial installment payment would otherwise be made. The number of Subsequent Elections under this Section 3.5(a) shall not be limited.
(b) Inactive Participants . The Committee may, in its sole and absolute discretion, permit an Inactive Participant to make a Subsequent
Election defer the time of payment of any part or all of such Inactive Participant’s Account for a minimum of five years and a maximum of ten
additional years from the previously-elected payment date, by filing a Subsequent Election with the Administrator at least 12 months before the
lump-sum distribution or initial installment payment would otherwise be made. The number of Subsequent Elections under this Section 3.5(b)
shall be determined by the Committee in its sole and absolute discretion.
(c) Surviving Spouses – Subsequent Election . A Surviving Spouse who is a Deceased Participant’s Beneficiary may elect to defer the
time of payment of any part or all of such Deceased Participant’s Account the payment of which would be made more than
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