Dell 2008 Annual Report Download - page 123
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(3) If an Employee becomes initially eligible under the Plan following an Election Date, he may make an election to defer Base Salary, which
election shall, as provided in Paragraph (4) below, apply to amounts earned after the election is filed.
(4) A Participant's election to make Base Salary deferrals shall become effective as of the Election Date next following the date such
Participant executes and files with the Committee the form described in Paragraph (1) above. Notwithstanding the foregoing, if an
Employee is designated as initially eligible under the Plan following an Election Date, such Employee's election to make Base Salary
deferrals shall become effective as soon as administratively feasible following the date such election is received by the Committee
provided the election is made within 30 days of being designated an eligible Employee; provided, however, that such election shall apply
no earlier than the first day of the payroll period coincident with or next following such date.
(5) The reduction of a Participant's Base Salary pursuant to this election shall be effected by Base Salary reductions as of each payroll period
within the Plan Year.
(6) A Participant shall be deemed to have elected the same Base Salary Deferral percentage and the same form of distribution pursuant to this
Subsection for a Plan Year that was in effect for the immediately preceding Plan Year unless such Participant elects a new deferral
percentage or a new form of distribution for the Plan Year in accordance Paragraph (1) above or elects to terminate his deferral election
under the Plan effective as of the first day of the immediately following Plan Year.
(b) Bonus Deferrals.
(1) Each Participant may elect to defer receipt of an integral percentage of from 1% to 100% of his Bonus for any Bonus Year under the Plan
as a Bonus Deferral. Such election must be made in the form and within the time period required by the Committee. Notwithstanding any
provision hereof, the portion of a Participant's Bonus which is deferred pursuant to this Subsection shall be subject to withholding for
applicable payroll taxes (i.e., amounts required to be withheld under Code Section 3121(v)) and such taxes shall be netted from the portion
of his Bonus deferred hereunder.
(2) A Participant's election to defer a Bonus under the Plan must be made on or prior to the Election Date for Bonus Deferrals, and such
election shall be irrevocable for such Bonus Year.
(3) If an Employee becomes initially eligible under the Plan following an Election Date for Bonus Deferrals, he shall be eligible to make a
Bonus Deferral Election for such Bonus Year as provided in Section 2.1(b)(2).
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