Dell 2000 Annual Report Download - page 61

(c) Any participating entity may, by appropriate action of its
officers without the need for approval of its board of
directors or noncorporate counterpart or the Committee, the
Company, or the Directors, terminate its participation in the
Plan. Moreover, the Committee may, in its discretion,
terminate a participating entity's Plan participation at any
time by giving written notice to such participating entity and
the Company.
ARTICLE XII.
MISCELLANEOUS
12.1 NOT CONTRACT OF EMPLOYMENT. The adoption and maintenance of the Plan
shall not be deemed to be a contract between the Company and any person
or to be consideration for the employment of any person. Nothing herein
contained shall be deemed to give any person the right to be retained
in the employ of the Company or to restrict the right of the Company to
discharge any person at any time, nor shall the Plan be deemed to give
the Company the right to require any person to remain in the employ of
the Company or to restrict any person's right to terminate his
employment at any time.
12.2 ALIENATION OF INTEREST FORBIDDEN. The interest of a Participant or his
beneficiary or beneficiaries hereunder may not be sold, transferred,
assigned, or encumbered in any manner, either voluntarily or
involuntarily, and any attempt so to anticipate, alienate, sell,
transfer, assign, pledge, encumber, or charge the same shall be null
and void, nor shall the benefits hereunder be liable for or subject to
the debts, contracts, liabilities, engagements, or torts of any person
to whom such benefits or funds are payable, nor shall they be an asset
in bankruptcy or subject to garnishment, attachment, or other legal or
equitable proceedings. The preceding notwithstanding, the Committee
shall comply with the terms and provisions of a "qualified domestic
relations order" as defined in ERISA Section 206(d).
12.3 WITHHOLDING. All Compensation Deferrals, Company Credits, and benefit
payments provided for hereunder shall be subject to applicable
withholding and other deductions as shall be required of the Company
under any applicable local, state, or federal law as such laws are
interpreted by the Company.
12.4 AMENDMENT AND TERMINATION. The Directors have the absolute and
unconditional right to amend the Plan at any time and may from time to
time, in their discretion, amend, in whole or in part, any or all of
the provisions of the Plan; provided, however, that any
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amendments to the Plan that do not have a significant cost impact on
the Company, whether or not retroactive, may be made by the Committee;
and provided, further, that no amendment may be made that would reduce
a Participant's Vested Interest in the amounts credited to his Accounts
as of the date of adoption of such amendment. The Directors have the
absolute and unconditional right to terminate the Plan at any time on
behalf of the Company and each participating entity. In the event that
the Plan is terminated, notwithstanding any other form of benefit
elected by the Participant, the balance of each Participant's Accounts
shall be paid to such Participant or his designated beneficiary in the
manner selected by the Committee in its discretion (notwithstanding any
other form of benefit elected by such Participant), which may include
the payment of a single lump sum cash payment, in full satisfaction of
all of such Participant's or beneficiary's benefits hereunder.
12.5 SEVERABILITY. If any provision of the Plan shall be held illegal or
invalid for any reason, said illegality or invalidity shall not affect
the remaining provisions hereof; instead, each provision shall be fully
severable, and the Plan shall be construed and enforced as if said
illegal or invalid provision had never been included herein.
12.6 GOVERNING LAWS. All provisions of the Plan shall be construed in
accordance with the laws of the State of Texas except to the extent
preempted by federal law.