Dell 2003 Annual Report Download - page 152
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remaining portion of the Plan Year by filing an election within the thirty (30) day period following the date of his initial eligibility.
(4) A Participant's election to make Base Salary deferrals shall become effective as of the Election Date coincident with or next following the date
such Participant executes and files with the Committee the form described in Paragraph (1) above. Notwithstanding the foregoing, if a
Participant is selected as initially eligible under the Plan following an Election Date, such Participant's election to make Base Salary deferrals
shall become effective as soon as administratively feasible following the date such election is received by the Committee; provided, however,
that such election shall apply no earlier than the first day of the payroll period coincident with or next such date.
(5) The reduction of a Participant's Base Salary pursuant to this election shall be effected by Base Salary reductions as of each payroll period within
the election period.
(6) A Participant shall be deemed to have elected the same Base Salary deferral percentage pursuant to this Subsection for a Plan Year that was in
effect for the immediately preceding Plan Year unless such Participant elects a new deferral percentage for the Plan Year in accordance with
Paragraph (1) or cancels his Base Salary deferrals for the Plan Year in accordance with Subsection (c) below.
(b) Bonus Deferrals.
(1) Effective as of January 1, 2000, each Participant may elect to defer receipt of an integral percentage of from 1% to 100% of his Bonus for any
Bonus Year under the Plan as Bonus deferrals. Such election must be made in the form and within the time period required by the Committee.
Notwithstanding any provision hereof, the portion of a Participant's Bonus which is deferred pursuant to this Subsection shall be subject to
withholding for applicable payroll taxes (i.e., amounts required to be withheld under Code Section 3121(v)) and such taxes shall be netted from the
portion of his Bonus deferred hereunder.
(2) A Participant's election to defer Bonus under the Plan must be made on or prior to the Election Date for Bonus deferrals, and such election shall be
irrevocable for such Bonus Year.
(3) If an Employee becomes initially eligible under the Plan following an Election Date, he may make an election to defer a designated portion of his
Bonus for the entire Bonus Year by filing an election within the thirty (30)-day period following the date of his initial eligibility, and such election
shall be irrevocable for such Bonus Year. Notwithstanding the preceding, an Employee who becomes initially eligible to participate in the Plan
after the first day of the fourth quarter of the Company's fiscal year shall not be
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