EMC 2006 Annual Report Download - page 116

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terms set forth in the Company's form of Key Employee Agreement (which agreement (i) shall be deemed to apply to such Participant whether or not such
Participant is a party to a Key Employee Agreement and (ii) is expressly incorporated by reference herein and made a part of the Plan).
2.24. "Subsidiary" or "Subsidiaries" means a corporation or corporations in which the Company owns, directly or indirectly, stock possessing fifty
percent (50%) or more of the total combined voting power of all classes of stock.
Article 3. PARTICIPATION
3.1. Commencement of Participation. Any individual who is an Eligible Employee or an Eligible Director and who has elected to defer part of his or
her Compensation for the Plan Year in accordance with Section 4.1, or who has been selected by the Company in its sole discretion to receive a Company
Credit in accordance with Section 4.2, shall become a Participant on the date such election or credit is made.
3.2. Continued Participation. An individual who has become a Participant in the Plan shall continue to be a Participant so long as any amount remains
credited to his or her Account.
Article 4. DEFERRALS AND CREDITS
4.1. Elective Deferrals
(a) Initial election to defer. An Elective Deferral Eligible Employee or Eligible Director may make an initial election to defer a designated
portion of his or her Compensation to be earned during a Plan Year, by filing an election with the Administrator prior to the first day of the Plan Year in
which such Compensation is to be earned or, as determined by the Administrator, by such other date that is permitted for an initial deferral election
under Code section 409A; provided, however, that with respect to each Participant, the Administrator in its sole discretion may determine which
specific types of Compensation may be deferred under the Plan by such Participant. An individual who first becomes an Elective Deferral Eligible
Employee or Eligible Director on or after the first day of any Plan Year may elect to defer a designated portion of his or her Compensation to be earned
following the election during the Plan Year by filing an election with the Administrator within 30 days of becoming an Elective Deferral Eligible
Employee or Eligible Director.
(b) Nature of Election. Each election under this Section 4.1 for a Plan Year (or the balance of a Plan Year) shall be made on a form (whether
written, electronic, or
4