Dell 2008 Annual Report Download - page 122

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following the date on which the Participant elects to terminate his deferral elections as permitted under the Plan's terms or (iii) the first day of the Plan
Year following the date on which the Committee determines that the Participant is no longer eligible to participate in the Plan.
2.3 Reemployment of a Participant.
(a) A Participant who terminates employment with an Employer and is subsequently rehired by an Employer shall not be entitled to commence or
continue participation in the Plan unless and until he is again eligible to become a Participant in accordance with Section 2.1. In the case of such a
rehired Participant, his recommencement of Plan participation, if any, shall be considered as his initial commencement of participation for
purposes of the Plan. If the Participant is rehired within twenty four months following his termination of employment, such individual shall not
be eligible for reenrollment in the Plan until the next annual enrollment period.
(b) A Participant whose employment is transferred to an Affiliate that is not a Participating Employer, or to a position that causes such individual to
be ineligible to participate in the Plan, and whose employment is subsequently transferred to a Participating Employer, or to a position that causes
such individual to be eligible to participate in the Plan, shall be permitted to recommence Plan participation. If the Participant becomes eligible to
participate in the Plan within twenty four months following the date he ceased to be eligible to participate in the Plan, such individual shall not be
eligible for reenrollment in the Plan until the next annual enrollment period.
ARTICLE III.
CONTRIBUTIONS
3.1 Participant Compensation Deferrals. Each Participant may elect to defer a portion of his Compensation in accordance with this Section.
Compensation not deferred by a Participant pursuant to this Section shall, for purposes of this Plan, be received by such Participant in cash.
(a) Base Salary Deferrals.
(1) Each Participant may elect to defer receipt of an integral percentage from one percent (1%) to fifty percent (50%) of his Base Salary for
any Plan Year under the Plan as a Base Salary Deferral. Notwithstanding the preceding, the Committee may, by resolution, provide that the
maximum deferral limit for certain groups of Participants shall be less than fifty percent (50%) with such determination, if any, to be
effective as of the first day of the following Plan Year. Such election must be made in the form and within the time period required by the
Committee.
(2) A Participant's election to defer Base Salary for any Plan Year under the Plan must be made prior to the Election Date for Base Salary
Deferrals and shall be irrevocable for such Plan Year. -10-