Intel 1998 Annual Report Download - page 27

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SECTION 5.1 TIMING OF DISTRIBUTION. The amounts credited to a Participant's Account shall be paid (or payment shall commence)
within a reasonable time after the earlier of: (i) the Early Benefit Distribution Date, if the Participant has made a valid election for early
distribution of Benefits pursuant to Section 5.2, or (ii) a Termination Event.
SECTION 5.2 EARLY BENEFIT DISTRIBUTION. A Participant may elect an Early Benefit Distribution Date. Such election shall be made
on the Participant's original Deferred Compensation Agreement and shall specify the portion or amount of the Participant's Account to be
distributed on such Early Benefit Distribution Date. Any election of an Early Benefit Distribution Date shall be irrevocable, both as to the date
of distribution and as to the amount of the distribution.
(a) No election of an Early Benefit Distribution Date shall be given effect unless such election specifies an Early Benefit Distribution Date
which is at least twenty-four (24) full calendar months after the date the Participant's Deferred Compensation Agreement is received by the
Company. With respect to elections relating to Plan Years subsequent to the Plan Year to which the original election relates, the Company will
be deemed to have received the election on December 31 of the prior year.
(b) In the event a Participant elects an Early Benefit Distribution Date for less than 100% of his or her Account (determined as of the Early
Benefit Distribution Date), the balance of the Participant's Account remaining after the Early Benefit Distribution Date (adjusted as provided in
Article 4) shall be distributed in accordance with Section 5.1 without regard to Section 5.1(i).
(c) In the event a Participant has a Termination Event prior to his or her Early Benefit Distribution Date, his or her election of an Early Benefit
Distribution Date shall not be given effect and distribution of the Participant's Account, shall be made in accordance with Section 5.1 without
regard to Section 5.1(i).
ARTICLE 6. VESTING
SECTION 6.1 IMMEDIATE VESTING. Participant deferrals are fully vested immediately.
ARTICLE 7. DISTRIBUTION OF BENEFITS
SECTION 7.1 FORM OF BENEFIT. Participants may elect on their Deferred Compensation Agreements one of the following forms of cash
benefits:
(a) annual installment payments over a five (5) year or a ten (10) year period;
(b) a lump sum distribution.
Installment payments shall be available to a Participant only in the event the Participant elects to receive a distribution on a Termination Event.
In the event a Participant has failed to elect a form of distribution, or if no record of such election can be found, the Participant shall receive
annual payments over a ten (10) year period. Except for lump sum distributions, Benefit payments shall be a level annual amount for each
calendar
5.