Intel 2007 Annual Report Download - page 128

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13. Effective January 1, 2007, Section 8(c) of the Intel Corporation Sheltered Employee Retirement Plan Plus is amended by adding the
following paragraph between the second and third paragraph of said section:
Participants who were active employees as of August 31, 2007 have the option to make a new one-time distribution election from among the
available options with respect to all Plan accounts by submitting a new election form to the Company no later than August 31, 2007. Any such
new election supersedes prior elections, is irrevocable as to pre-2008 accounts and will take effect as of August 31, 2007 for amounts to be
distributed on or after January 1, 2008. In the event a Participant makes such election and terminates employment prior to January 1, 2008, the
new election will be effective provided that it does not violate Section 409A of the Code, as determined in the Company’s sole discretion.
14. Effective January 1, 2007, Section 8(c)(1) of the Intel Corporation Sheltered Employee Retirement Plan Plus is replaced in its entirety as
follows:
(1) Lump Sum . A Participant may elect to receive his or her Plan Benefit as a cash lump sum either:
(A) by electing to receive the cash lump sum as soon as reasonably practicable after the Participant’s Termination Date; or,
(B) by electing to receive the cash lump in the year following the year of the Participant’s Termination Date.
15. Effective January 1, 2008, Section 8(c) of the Intel Corporation Sheltered Employee Retirement Plan Plus is amended by adding the
following:
(3) Alternative Distribution Options Available for Deferrals Made on or after January 1, 2008 . The following additional distribution
options are available to Participants for deferrals made on or after January 1, 2008. None of these options is available for pre-2008 deferrals
which are limited to the alternatives in (1) and (2) above. Additionally, In-Service Distribution elections in (ii) below are not available for
benefits in the Profit Sharing Account.
(i) Yearly Deferral Election Option : Participants may annually elect a new distribution election for each future year’s deferrals.
(ii) In-Service Distribution Election Option : Participants may choose to receive an In-Service Distribution of the benefits in their Earnings
Deferral Account by electing among the alternatives described in Section 8(c)(1)(A) and c(2). However the elections under 8(c)(2) will
begin in the third month of the Plan Year in which the Participant elects to begin the installment payments (instead of in the Plan Year
following their Termination Date). The distribution date must be at least three calendar years after the beginning of the Plan Year in which
the
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