Dell 2003 Annual Report Download - page 166
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benefits hereunder be liable for or subject to the debts, contracts, liabilities, engagements, or torts of any person to whom such benefits or funds are
payable, nor shall they be an asset in bankruptcy or subject to garnishment, attachment, or other legal or equitable proceedings. The preceding
notwithstanding, the Committee shall comply with the terms and provisions of a "qualified domestic relations order" as defined in ERISA Section 206(d).
12.3 Withholding. All Compensation Deferrals, Company Credits, and benefit payments provided for hereunder shall be subject to applicable withholding and
other deductions as shall be required of the Company under any applicable local, state, or federal law as such laws are interpreted by the Company.
12.4 Amendment and Termination. The Directors have the absolute and unconditional right to amend the Plan at any time and may from time to time, in their
discretion, amend, in whole or in part, any or all of the provisions of the Plan; provided, however, that any amendments to the Plan that do not have a
significant cost impact on the Company, whether or not retroactive, may be made by the Committee; and provided, further, that no amendment may be
made that would reduce a Participant's Vested Interest in the amounts credited to his Accounts as of the date of adoption of such amendment. The
Directors have the absolute and unconditional right to terminate the Plan at any time on behalf of the Company and each participating entity. In the event
that the Plan is terminated, notwithstanding any other form of benefit elected by the Participant, the balance of each Participant's Accounts shall be paid to
such Participant or his designated beneficiary in the manner selected by the Committee in its discretion (notwithstanding any other form of benefit elected
by such Participant), which may include the payment of a single lump sum cash payment, in full satisfaction of all of such Participant's or beneficiary's
benefits hereunder.
12.5 Severability. If any provision of the Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining provisions
hereof; instead, each provision shall be fully severable, and the Plan shall be construed and enforced as if said illegal or invalid provision had never been
included herein.
12.6 Governing Laws. All provisions of the Plan shall be construed in accordance with the laws of the State of Texas except to the extent preempted by federal
law.
Executed this 10th day of December, 2002.
DELL COMPUTER CORPORATION
By: /s/ KATHLEEN O. ANGEL
Name: Kathleen O. Angel
Title: Director Of Global Benfits
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