Comcast 2013 Annual Report Download - page 213

(c) 2013 Plan Year For Eligible NBCU Employees, and Plan Years Beginning After December 31, 2013 . With respect to Eligible
NBCU employees for Compensation earned after December 31, 2012 and with respect to Eligible Comcast Employees for Compensation earned
after December 31, 2013, the term “Initial Election” means one or more written elections provided by the Administrator and filed with the
Administrator in accordance with Article 3 pursuant to which an Eligible Employee may:
(i) Subject to the limitations described in Section 2.33(c)(iii), elect to defer Compensation payable for the performance of
services as an Eligible Employee following the time that such election is filed; and
(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 2.33(c)(iii)(B) and Section 2.33(c)(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 Restricted Stock 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
th
immediately preceding such Plan
Year.
2.34. “ NBCUniversal ” means NBCUniversal, LLC and its subsidiaries.
2.35. “ New Key Employee ” means:
(a) Effective before January 1, 2014, and except as provided in Section 2.35(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.
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