Comcast 2014 Annual Report Download - page 202

3.7. Withholding and Payment of Death Taxes .
(a) Notwithstanding any other provisions of this Plan to the contrary, including but not limited to the provisions of Article 3 and
Article 7, or any Initial or Subsequent Election filed by a Deceased Participant or a Deceased Participant’s Beneficiary (for purposes of this
Section, the “Decedent”), and to the extent permitted by Section 409A, the Administrator shall apply the terms of Section 3.7(b) to the
Decedent’s Account unless the Decedent affirmatively has elected, in writing, filed with the Administrator, to waive the application of
Section 3.7(b).
(b) Unless the Decedent affirmatively has elected, pursuant to Section 3.7(a), that the terms of this Section 3.7(b) not apply, but only
to the extent permitted under Section 409A:
(i) The Administrator shall prohibit the Decedent’
s Beneficiary from taking any action under any of the provisions of the Plan
with regard to the Decedent’s Account other than the Beneficiary’s making of a Subsequent Election pursuant to Section 3.5;
(ii) The Administrator shall defer payment of the Decedent’s Account until the later of the Death Tax Clearance Date and the
payment date designated in the Decedent’s Initial Election or Subsequent Election;
(iii) The Administrator shall withdraw from the Decedent’s Account such amount or amounts as the Decedent’s Personal
Representative shall certify to the Administrator as being necessary to pay the Death Taxes apportioned against the Decedent’s Account; the
Administrator shall remit the amounts so withdrawn to the Personal Representative, who shall apply the same to the payment of the Decedent’s
Death Taxes, or the Administrator may pay such amounts directly to any taxing authority as payment on account of Decedent’s Death Taxes, as
the Administrator elects;
(iv) If the Administrator makes a withdrawal from the Decedent’s Account to pay the Decedent’s Death Taxes and such
withdrawal causes the recognition of income to the Beneficiary, the Administrator shall pay to the Beneficiary from the Decedent’s Account,
within thirty (30) days of the Beneficiary’s request, the amount necessary to enable the Beneficiary to pay the Beneficiary’s income tax liability
resulting from such recognition of income; additionally, the Administrator shall pay to the Beneficiary from the Decedent’s Account, within
thirty (30) days of the Beneficiary’s request, such additional amounts as are required to enable the Beneficiary to pay the Beneficiary’s income
tax liability attributable to the Beneficiary’s recognition of income resulting from a distribution from the Decedent’s Account pursuant to this
Section 3.7(b)(iv);
(v) Amounts withdrawn from the Decedent’s Account by the Administrator pursuant to Sections 3.7(b)(iii) and 3.7(b)(iv)
shall be withdrawn from the portions of Decedent’s Account having the earliest distribution dates as specified in Decedent’s Initial Election or
Subsequent Election; and
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