Dell 2003 Annual Report Download - page 158

Download and view the complete annual report

Please find page 158 of the 2003 Dell annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 174

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174

(b) The death of the Participant;
(c) A determination by the Committee that the Participant has a Disability; or
(d) A Change of Control.
A Participant's benefit shall equal the Participant's Vested Interest in his Accounts as of the Valuation Date next preceding the date the payment of such
benefit is to be paid or commence pursuant to Section 8.3.
8.3 Payee and Time of Payment. Payment of a Participant's benefit shall be paid or commence as soon as administratively practicable following the
Section 8.2 event triggering payment. The Participant's benefit shall be paid to the Participant, unless the Section 8.2 triggering event is the death of the
Participant, in which case the Participant's benefit shall be paid to the Participant's designated beneficiary as provided in Section 8.5.
8.4 Alternative Forms of Benefit Payments.
(a) A Participant's benefit under the Plan shall be paid in cash in one of the following forms:
(1) A single lump sum payment; or
(2) Monthly, quarterly or annual installment payments for a term certain not to exceed ten years payable to such Participant or, in the event of such
Participant's death prior to the end of such term certain, to his designated beneficiary as provided in Section 8.5.
(b) A Participant must elect one of the forms of payment listed in Subsection 8.4(a) above on or before the date he first becomes a Participant of the Plan
pursuant to Article II. Except as provided in Subsection 8.4(c) below, such election shall be irrevocable by the Participant and shall remain in effect
for all periods of a Participant's participation in the Plan. In the event a Participant fails to elect timely the form in which his benefit payments are to
be made, such benefit payments shall be deemed to have been elected by such Participant to be in the form of a single lump sum payment.
(c) A Participant may shall be entitled to change his elected form of benefit payment under Subsection 8.4(a) above with respect to all amounts allocated
to his Accounts (i.e., both existing and future allocations) as of each January 1st. Such change shall be made prior to each such January 1st and shall be
effective as of the subsequent January 1st. If a triggering event described in Section 8.2 occurs during the Plan Year following the Committee's receipt
of an election to change distribution forms, such election shall be deemed to be null and void and the immediately preceding election shall apply to the
Participant's distribution. A Participant who does not elect to change his current elected (or deemed elected) form of benefit payment with respect to
future allocations to such Participant's Accounts as of any such January 1 shall not be entitled to change his elected form of benefit until the
subsequent January 1st. If a Participant elected to receive his benefit payment in one or more
-15-