Saks Fifth Avenue 2008 Annual Report Download - page 166

ARTICLE 1
INTRODUCTION
Proffitt’s, Inc. established, as of April 1, 1997, an unfunded, deferred compensation plan primarily for the purpose of providing
deferred compensation for a select group of management or highly compensated employees of the Participating Companies,
entitled the “Proffitt’s, Inc. Supplemental Savings Plan.”
The Plan has been amended from time to time, including a complete amendment and restatement of the Plan effective as of
April 12, 1999, pursuant to which Saks Incorporated became the sponsor of the Plan and the name of the Plan was changed to
the “Saks Incorporated Supplemental Savings Plan.”
The Plan was again amended and restated effective as of May 1, 2002, pursuant to which the name of the Plan was changed to
“Saks Incorporated Deferred Compensation Plan.” The Plan has further been amended from time to time.
This document is an amendment and restatement of the Plan and shall be effective as of January 1, 2009, except as specifically
otherwise provided.
The Plan is intended to be an unfunded plan maintained by the Corporation with the Participating Companies primarily for the
purpose of providing deferred compensation for a select group of management or highly compensated employees (and intended
to be within the exemptions therefore in, without limitation, sections 201(2), 301(a)(3), 401(a)(1) and 4021(b)(6) of ERISA and
section 2520.104-23 of the Labor Regulations). The Plan is intended to be “unfunded” for purposes of both ERISA and the
Code. The Plan is not intended to be qualified as a qualified plan under section 401(a) of the Code; rather, the Plan is intended to
be a “nonqualified” plan.
With the exception of Frozen Accounts as defined as Section 2.20 hereof, it is intended that this Plan comply with Code section
409A and all relevant regulations and other guidance in effect relating to this Code section. During the period beginning
January 1, 2005 and ending on the Effective Date of this amendment and restatement, this Plan is intended to operate in
accordance with the reasonable and good faith compliance standards established by said regulations and other guidance. During
said transition period, the Plan is specifically authorized to take advantage of any available transition relief, including but not
limited to relief related to changes in payout elections.
1.01 Establishment and Name of Plan.
1.02 Intent and Status of Plan.
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