Dell 2003 Annual Report Download - page 157

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Accounts, determined as of the date his election is made, paid to him on a fixed date specified in such election, which shall be at least two (2) years
following the date that such election is submitted to the Committee in writing. The amount of the payment pursuant to this irrevocable election shall
be stated in the election and shall be a fixed dollar amount, and shall not be adjusted for earnings or losses following such election date. Once an in-
service distribution election has been filed with the Committee, it may be extended to provide that the distribution shall be made on a date which is
subsequent to the original distribution date; provided, however, that a Participant may not elect to extend his distribution date during the two (2) year
period immediately preceding the designated distribution date. A Participant may have only one election hereunder outstanding at any time.
Notwithstanding the preceding, if the Participant terminates employment prior to the designated payment date, his election shall be terminated and his
Accounts shall be distributed as provided in Section 8.4 below.
(d) In the event that the Committee, upon written petition of the Participant, determines in its sole discretion that the Participant has a Disability, the
Participant shall be entitled to a distribution in accordance with Article VIII.
7.2 Involuntary Distributions. Notwithstanding anything contained in the Plan to the contrary, if at any time any Participant is finally determined by the
Internal Revenue Service or the U.S. Department of Labor not to qualify as a member of a select group of "management or highly compensated
employees" as such term is used in ERISA Section 401(a)(1), the Committee may, in its sole discretion, immediately distribute in one lump sum to such
Participant his vested account under the Plan. A final determination of the Internal Revenue Service or the U.S. Department of Labor shall be a decision
rendered by the Internal Revenue Service or the U.S. Department of Labor which is no longer subject to administrative appeal within such agency. In
addition, the Committee may, in its exclusive and sole discretion, cause the Plan to make a distribution to a Participant during a Plan Year in order to cause
the Participant to have sufficient taxable compensation to satisfy the annual addition requirements of Code Section 415 with respect to any qualified
retirement plans maintained by the Company during such Plan Year.
7.3 No Loans. Participants shall not, at any time, be permitted to borrow from the Plan or Trust Fund.
ARTICLE VIII.
PLAN BENEFITS
8.1 Plan Benefit. A Participant's Plan benefit shall be the value of his Accounts determined as of the Valuation Date immediately preceding the time of
payment of such Accounts in accordance with Section 8.3.
8.2 Events Entitling Payment of Benefit. A Participant's benefit shall become payable upon the earliest to occur of the following events:
(a) A termination of the Participant's employment with the Company and its Affiliates for any reason;
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