Comcast 2014 Annual Report Download - page 278

(with such remainder to be determined in accordance with applicable regulations under the Code); provided, however, that this form of payment
shall not be available to a beneficiary that is not an individual. A beneficiary may elect the mode of payment under this Section at any time prior
to his Benefit Commencement Date. Such election shall be on a form prescribed by the Committee. In the event that a beneficiary fails to make a
valid election under this Section, the value of the Participant’s Account will be distributed as a single sum payment.
5.9.2. Payment of death benefits payable under Section 5.3 shall commence as soon as practicable following the death of the
Participant.
Section 5.10. Explanations to Participants . The Committee shall provide to each Participant no less than 30 days and no more than 180
days before his Benefit Commencement Date a written explanation of:
5.10.1. the terms and conditions of each optional mode of payment, including information explaining the relative values of each
mode of benefit, in accordance with applicable governmental regulations under section 401(a)(11) of the Code;
5.10.2. the Participant’s right to elect an optional mode of payment and the effect of such an election;
5.10.3. the rights of the Participant’s Spouse with respect to the Participant’s election of certain optional modes of payment; and
5.10.4. the Participant’s right to revoke an election to receive an optional mode of payment and the effect of such revocation.
Section 5.11. Beneficiary Designation .
5.11.1. Except as provided in this Section 5.11, a Participant may designate the beneficiary or beneficiaries who shall receive, on or
after his death, his interest in the Fund, provided that the designation of a beneficiary under a joint and survivor annuity shall be fixed and may
not be changed on or after the date on which benefit payments commence. Such designation shall be made by executing and filing with the
Committee a written instrument in such form as may be prescribed by the Committee for that purpose. Except as provided in this Section 5.11,
the Participant may also revoke or change, at any time and from time to time, any beneficiary designations previously made. Such revocations
and/or changes shall be made by executing and filing with the Committee a written instrument in such form as may be prescribed by the
Committee for that purpose. If a Participant names a trust as beneficiary, a change in the identity of the trustees or in the instrument governing
such trust shall not be deemed a change in beneficiary.
5.11.2. No designation, revocation, or change of beneficiaries shall be valid and effective unless and until filed with the Committee.
5.11.3. A Participant who does not establish to the satisfaction of the Committee that he has no Spouse may not designate someone
other than his Spouse to be his beneficiary under Section 5.3 unless:
-
35
-