Dell 2001 Annual Report Download - page 68

3. Plan Section 9.1 is hereby amended to be and read as follows:
"9.1 ELIGIBILITY FOR LOAN.
(a) Subject to the provisions of this Article, the
following individuals shall be eligible for loans
under the Plan: (i) each Participant who is an
Employee and (ii) each party-in-interest, as that
term is defined in section 3(14) of ERISA, as to the
Plan, but only if such party-in-interest (i) retains
an Account balance under the Plan and (ii) is either
a Participant no longer employed by the Employer, a
beneficiary of a deceased Participant, or an
alternate payee under a qualified domestic relations
order, as that term is defined in section 414(p)(8)
of the Code. (An individual who is eligible to apply
for a loan under the Plan as described in the
preceding sentence shall hereinafter be referred to
as a "Participant" for purposes of this Article.)
(b) Notwithstanding the above, a Participant may not have
more than two (2) loan outstanding at any time;
provided, however, that for the Plan Year ending
December 31, 2001, a Participant may have up to three
(3) loans outstanding at any one time.
(c) Upon application by a Participant and subject to such
uniform and nondiscriminatory rules and regulations
as the Committee may establish, the Committee may in
its discretion direct the Trustee to make a loan or
loans to such Participant."
4. Plan Section 9.5(b) is hereby amended to be and read as follows:
"(b) The terms of the loan shall (i) require level amortization
with payments not less frequently than quarterly, (ii) require
that the loan be repaid (a) over an amortization period of one
to five years for the period from the Effective Date through
December 31, 2000, and (b) over an amortization period of one
to four and one-half years effective as of January 1, 2001,
(unless the Participant certifies in writing to the Committee
that the loan is to be used to acquire any dwelling unit which
within a reasonable time is to be used (determined at the time
the loan is made) as a principal residence of the Participant,
in which case the loan must be repaid over an amortization
period of five to twenty years), (iii) allow prepayment
without penalty at any time, provided that any prepayment must
be for the full outstanding loan balance (including interest),
(iv) require that the balance of the loan (including interest)
shall become due and payable (to the extent not otherwise due
and payable) within ninety days of the date the Participant
or, if applicable, the Participant's beneficiary, is first
entitled to a distribution from the Plan (other than a
distribution pursuant
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