Comcast Corporation Employment Agreement with Michael J. Cavanagh

Comcast Corporation has entered into a new employment agreement with Michael J. Cavanagh, effective December 19, 2025, in anticipation of his appointment as Co-Chief Executive Officer on January 2, 2026. The agreement secures his employment through January 1, 2029. Mr. Cavanagh will receive an annual base salary of $2,750,000, with his target annual performance-based cash bonus remaining at 300% of his base salary. He has also been awarded performance-based restricted stock units valued at approximately $35 million, with vesting contingent upon both time-based and performance-based conditions over three years. The award includes provisions for accelerated vesting in the event of resignation for Good Reason, termination without Cause, death, or disability, with specific terms for pro-rata vesting and performance-based calculations.