Dell 2003 Annual Report Download - page 151

(2) with respect to Bonus deferrals, by filing an election with the Committee during the thirty (30)-day period commencing on the date of such
selection or prior to the Election Date for any subsequent Bonus Year, provided, however, that an individual designated as an Employee after the
first day of the fourth fiscal quarter of the Company shall not be permitted to file an election for such Bonus Year.
(c) Once an individual has been designated as an Employee and commences Plan participation, he shall remain a Participant eligible to participate in the
Plan each Plan Year or Bonus Year until his participation is terminated in accordance with Section 2.2 or the Committee terminates his designation as
an Employee under this Plan.
2.2 Termination of Participation. Notwithstanding any provision herein to the contrary, an individual who has become or is entitled to become a Participant
of the Plan shall cease to be or be entitled to be a Participant effective as of the earliest to occur of (1) the date the Participant is no longer employed by the
Company or (2) any earlier date designated by the Committee and communicated to the affected individual prior to the effective date of such action.
2.3 Reemployment of a Participant. A Participant who terminates employment with the Company and is subsequently rehired by the Company shall not be
entitled to commence or continue participation in the Plan unless and until he is again eligible to become a Participant in accordance with Section 2.1. In
the case of such a rehired Participant, his recommencement of Plan participation, if any, shall be considered as his initial commencement of participation
for purposes of the Plan. ARTICLE III.
CONTRIBUTIONS
3.1 Participant Compensation Deferrals. Each Participant may elect to defer a portion of his Compensation in accordance with this Section. Compensation
not deferred by a Participant pursuant to this Section shall, for purposes of this Plan, be received by such Participant in cash.
(a) Base Salary Deferrals.
(1) Each Participant may elect to defer receipt of an integral percentage of from 1% to 50% of his Base Salary for any Plan Year under the Plan as
Base Salary deferrals. Notwithstanding the preceding, the Committee may, by resolution, provide that the maximum deferral limit for certain
groups of Participants shall be less than fifty percent (50%). Such election must be made in the form and within the time period required by the
Committee.
(2) A Participant's election to defer Base Salary for any Plan Year under the Plan must be made on or prior to the Election Date for Base Salary
deferrals.
(3) If an Employee becomes initially eligible under the Plan following an Election Date, he may make an election to defer Base Salary for the
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