EMC 2006 Annual Report Download - page 121

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distribution is to be paid in five annual installments, then the first installment shall be made in January of the year elected and succeeding installments shall be
made in January of the four years following the year elected (for a total of five installments). The amount of each installment shall be determined by dividing
the Participant's applicable Account balance (adjusted through the day before the installment is paid) by the number of installments remaining. Any election
made under this Section 6.2 shall be made in on a form (whether written, electronic, or otherwise) prescribed or approved by the Administrator and may be
changed on a form (whether written, electronic, or otherwise) prescribed or approved by the Administrator only as provided in Section 4.1(c).
In the event the Participant's employment with the Company or any of its Subsidiaries or service as a director of the Company is terminated prior to the
fixed distribution date, then no payments shall be made pursuant to this Section 6.2 and, instead, the balance of the Participant's Elective Deferral Subaccount
shall be paid based on the Participant's termination of employment by reason of Retirement, Disability, death or otherwise, or termination of service as a
director of the Company by reason of Resignation of Service, Disability, death or otherwise, as the case may be. In the event the Participant's employment
with the Company or any of its Subsidiaries is terminated by reason of Retirement, Disability or death or the Participant's service as a director of the Company
is terminated by reason of Resignation of Service, Disability or death, as the case may be, after the fixed distribution date has occurred and the Participant had
elected to receive such distribution under this Section 6.2 in five annual installments, then payments shall be made at the same time and in the same manner as
elected by the Participant under this Section 6.2. In the event the Participant's employment with the Company or any of its Subsidiaries is terminated for any
reason other than Retirement, Disability or death or the Participant's service as a director of the Company is terminated for any reason other than Resignation
of Service, Disability or death after the fixed distribution date has occurred and the Participant had elected to receive such distribution under this Section 6.2
in five annual installments, then notwithstanding such election, the remaining portion of the distribution shall be made in a single lump sum payment to the
Participant 30 days after the Participant's employment with the Company or any of its Subsidiaries is terminated for any reason other than Retirement,
Disability or death or the Participant's service as a director of the Company is terminated for any reason other than Resignation of Service, Disability or death.
Any lump sum or installment distributions shall be paid in cash or, in the case of Compensation payable in Company Stock, in Company Stock.
6.3. Payment Upon Termination of Employment or Service as a Director Other than by Retirement or Resignation of Service. In the event a
Participant's employment with the Company or any of its Subsidiaries or service as a director of the Company is terminated other than by Retirement or
Resignation of Service (including by death or Disability), then 30 days following the termination (or, in the case of Disability, the determination of a
Disability), payments of both the Elective Deferral Subaccount and the Company Credit Subaccount will be
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