Dell 2003 Annual Report Download - page 100

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determined by the Committee, the designated beneficiary or beneficiaries to receive such death benefit shall be as follows:
(1) If a Participant leaves a surviving spouse, his designated beneficiary shall be such surviving spouse; and
(2) If a Participant leaves no surviving spouse, his designated beneficiary shall be (i) such Participant's executor or administrator or (ii) his heirs
at law if there is no administration of such Participant's estate.
(c) Notwithstanding the preceding provisions of this Section and to the extent not prohibited by state or federal law, if a Participant is divorced from
his spouse and at the time of his death is not remarried to the person from whom he was divorced, any designation of such divorced spouse as his
beneficiary under the Plan filed prior to the divorce shall be null and void unless the contrary is expressly stated in writing filed with the
Committee by the Participant. The interest of such divorced spouse failing hereunder shall vest in the persons specified in Subsection 7.3(b) as if
such divorced spouse did not survive the Participant.
7.4 Separation From Service Prior to Retirement. Each Participant whose employment with the Employer and all Controlled Entities is terminated prior to
his Normal Retirement Date for any reason other than total and permanent disability or death shall be entitled to a "termination benefit," payable at the
time and in the form provided in Article VIII. A Participant's termination benefit shall be equal to his Vested Interest in the value of his Accounts on his
Benefit Commencement Date.
(a) Determination of Vested Interest.
(1) A Participant shall have a 100% Vested Interest in his Salary Reduction Contribution Account and his Rollover Contribution Account at all
times.
(2) A Participant's Vested Interest in his Employer Contribution Account shall be determined by such Participant's years of Vesting Service in
accordance with the following schedule:
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%
(3) Notwithstanding Subsection 7.4(a)(2), with respect to any Participant who was a Participant in the Plan on the day prior to the Effective
Date, in no event shall such Participant's Vested Interest in his Employer Contribution
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