Dell 2003 Annual Report Download - page 156
Download and view the complete annual report
Please find page 156 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.-
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
 |
 |
YEARS OF VESTING SERVICE VESTED INTEREST
Less than 1 year 0%
1 year 20%
2 years 40%
3 years 60%
4 years 80%
5 years or more 100%
(b) Notwithstanding Subsection (a) above, a Participant shall have a 100% Vested Interest in his Company Credits Account upon the earliest to occur of
(i) the attainment of such Participant's Retirement Date while employed by the Company, (ii) the death of such Participant while employed by the
Company, (iii) the date such Participant becomes Disabled, or (iv) any earlier date designated by the Committee in its sole discretion.
6.3 Forfeitures. A Participant who terminates employment with the Company and its Affiliates with a Vested Interest in his Company Credits Account that is
less than 100% shall forfeit to the Company the nonvested portion of such Account as of the date of such termination.
ARTICLE VII.
IN-SERVICE WITHDRAWALS AND LOANS
7.1 In-Service Withdrawals.
(a) Except as provided in Subsections (b) through (d) below, no in-service withdrawals shall be permitted under the Plan, and Participants shall not be
permitted to make withdrawals from the Plan prior to a termination of employment with the Company and its Affiliates.
(b) In the event that the Committee, upon written petition of the Participant, determines in its sole discretion that the Participant has suffered an
Unforeseeable Financial Emergency, the Participant shall be entitled to withdrawal from his Compensation Deferrals Account an amount not to
exceed the lesser of (i) the amount determined by the Committee as necessary to meet the Participant's needs created by the Unforeseeable Financial
Emergency or (ii) the Vested Interest in the Participant's Accounts. Such benefit shall be paid in a single lump sum payment as soon as
administratively practicable after the Committee has made its determination with respect to the availability and amount of such withdrawal. If the
Participant's Accounts are deemed to be invested in more than one Investment Fund, such withdrawal shall be made pro rata from each Investment
Fund in which such Accounts are deemed to be invested. This Subsection shall not be applicable to the Participant following his termination of
employment with the Company and its Affiliates, and in the event of such termination the amounts credited to the Participant's Accounts shall be
payable to him only in accordance with Article VIII.
(c) A Participant may at any time make an irrevocable election, effective as of the first day of the next Plan Year, to have all or a portion of the Vested
Interest in his -13-