Neiman Marcus 2007 Annual Report Download - page 154
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Article 2. - PARTICIPATION
2.1. Commencement of Participation. Any individual who was a Participant in the Plan on July 31, 1993 will, subject to Sections 2.2
and 2.3, continue to be a Participant under this restatement of the Plan. Any other individual who is an Eligible Employee on
August 1, 1993 or any subsequent August 1 shall become a Participant on such August.
1. 2.2. Duration of Participation. Subject to Section 2.3, an individual who has become a Participant in the Plan shall continue
to be a Participant as long as he or she remains an employee of a Participating Employer or is entitled to a benefit under the Plan, even
though his or her base salary after becoming a Participant later falls below the then applicable base salary level specified in
Section 1.10. A Participant will cease to be a Participant when he or she is neither employed by a Participating Employer nor entitled
to receive a benefit under the Plan.
2.3. Reduction in Participant. Notwithstanding any other provision of the Plan to the contrary, the Committee may terminate
the right of any Participant or Eligible Employee to participate in the Plan if the Committee deems such action to be necessary to
preserve the status of the Plan as "a plan which is unfunded and is maintained by an employer primarily for the purpose of providing
deferred compensation for a select group of management or highly compensated employees" within the meaning of Sections 201 (2)
and 301(a)(3) of ERISA. In the event a Participant's participation is terminated under this Section 2.3, the Participant shall not be
entitled to any benefits under the Plan except to the extent such benefits would be protected under Section 6.2 if the Plan were then
terminated.
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