APS 2015 Annual Report Download - page 204

Service prior to the end of a Plan Year, such deferral shall include amounts that are earned, but not yet paid, immediately prior to a
Participant’s death or Separation from Service (for example, a Year-End Bonus that might have been earned but not yet paid as of the
date of a Participant’s death or Separation from Service).
2.2 Enrollment Requirements. As a condition to participation, each selected employee or Director shall complete, execute
and return to the Company an Election Form and a Beneficiary Designation Form. To the extent permitted by the Committee, a
selected employee or Director may enroll in the Plan and make elections by electronic means. In addition, the Committee, in its sole
discretion, may establish from time to time such other enrollment requirements as it determines in its sole discretion are necessary.
2.3 Eligibility: Commencement of Participation. When an employee or Director first becomes eligible to participate in the
Plan, that employee or Director may commence participation in the Plan at any time within thirty (30) days after his or her initial
qualification for eligibility. When a Participant has ceased being eligible to participate in the Plan (other than by the accrual of
earnings), and subsequently becomes eligible to participate in the Plan again more than twenty-four (24) months after first not being
eligible to participate in the Plan, the Participant will be treated as a new Participant and will be allowed to recommence participation in
the Plan at any time within thirty (30) days after his or her requalification for eligibility. If an employee or Director fails to submit an
Election Form to the Company within thirty (30) days after his or her initial qualification or requalification for eligibility, that employee
or Director shall not be eligible to submit an Election Form until the election period effective the following January 1.
2.4 Loss of Eligibility to Participate. If the status of a Participant changes, without a Separation from Service, so that he or
she is no longer an employee eligible to participate pursuant to Section 2.1, he or she shall become an inactive Participant as of the last
day of the Plan Year in which such change of status occurred. Inactive Participants shall continue to participate in the Plan for all
purposes other than for purposes of making deferrals under Section 3.1 and 3.2.
ARTICLE 3
Deferral Commitments/Interest Crediting
3.1 Deferral. Subject to Section 3.2 below, a Participant may defer eligible compensation for each Plan Year starting with his
or her commencement of participation in the Plan and ending immediately prior to his or her death or Separation from Service. For the
avoidance of doubt, such deferral shall include amounts that are earned, but not yet paid, immediately prior to a Participant’s death or
Separation from Service (for example, a Year-End Bonus that might have been earned but not yet paid as of the date of a Participant’s
death or Separation from Service).
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