Dell 2003 Annual Report Download - page 82

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III.
CONTRIBUTIONS
3.1 Salary Reduction Contributions.
(a) A Participant shall elect to defer an integral percentage from 0% to 25% (or such lesser percentage as may be prescribed from time to time by the
Committee) of his Considered Compensation for a Plan Year by having the Employer contribute the amount so deferred to the Plan.
(b) For the 2003 Plan Year, notwithstanding the preceding, an IBP Participant must make a separate election to defer an integral percentage from 0% to
25% (or such lesser percentage as may be prescribed from time to time by the Committee) of his Bonus, if any, by having the Employer contribute
the amount so deferred to the Plan.
(c) A Participant's election to defer an amount of his Considered Compensation and Bonus, if any, shall be made by authorizing his Employer, in the
manner prescribed by the Committee, to reduce his Considered Compensation (and, for the 2003 Plan Year, Bonus, if any), in the elected amount,
and the Employer, in consideration thereof, agrees to contribute an equal amount to the Plan. A Participant's election made pursuant to this
Subsection shall be implemented as soon as administratively practicable after such election is made.
A Participant's Considered Compensation deferral election shall remain in force and effect for all periods following its implementation until
modified in accordance with Subsection 3.1(c) or canceled in accordance with Subsection 3.1(d) or until such Participant ceases to be an Eligible
Employee. For the 2003 Plan Year, a Participant's Bonus deferral election shall remain in force and effect until the end of the Plan Year for which
such election was made unless earlier modified in accordance with Subsection 3.1(c) or canceled in accordance with Subsection 3.1(d) or until such
Participant ceases to be an Eligible Employee. The Company shall pay to a Participant any Considered Compensation and Bonus for a Plan Year not
deferred under this Plan.
(d) A Participant may change his deferral election percentage, effective as soon as administratively feasible by communicating such new deferral
election percentage to his Employer in the manner and within the time period prescribed by the Committee. For the 2003 Plan Year, a Participant
may change his deferral election percentage for his Bonus deferrals, effective as of the next following Bonus payment date, by communicating such
new deferral election percentage to his Employer in the manner and within the time period prescribed by the Committee.
(e) A Participant may cancel his deferral election effective as of the first day of any pay period by communicating such cancellation to his Employer in
the manner and within the time period prescribed by the Committee. A Participant who so
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