Comcast 2014 Annual Report Download - page 193

(b) 2013 Plan Year For Eligible Comcast Employees . With respect to Eligible Comcast Employees for Compensation earned in the
2013 Plan Year, 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 Comcast Employee may:
(i) Elect to defer any portion of the Compensation payable for the performance of services as an Eligible Employee following
the time that such election is filed, provided that 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
(ii) Designate the time of payment of the amount of deferred Compensation to which the Initial Election relates.
(c) 2013 Plan Year For Eligible NBCU Employees, and Plan Years Beginning After December 31, 2013 . With respect to:
(w) Eligible NBCU employees for Compensation earned after December 31, 2012; (x) Eligible Comcast Employees for Compensation earned
after December 31, 2013, (y) Eligible Comcast Spectacor Employees (other than seconded Eligible Comcast Spectacor Employees) for base
salary earned on and after January 1, 2015 and (z) all Eligible Comcast Spectacor Employees for Performance-Based Compensation earned in
Comcast Spectacor’s fiscal years beginning on and after July 1, 2014, 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 2.35(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 2.35(c)(iii)(B) and Section 2.35(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.
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