Saks Fifth Avenue 2008 Annual Report Download - page 173

ARTICLE 3
ELIGIBILITY AND PARTICIPATION
Eligibility to participate in the Plan shall be limited to Directors and full-time salaried Employees of the Participating
Companies who are in a select group of management or highly compensated Employees and who are designated, from time to
time, by the Committee as eligible to participate in the Plan. The Employees eligible to participate shall be those eligible
Employees as described above who meet either of the following conditions:
An Employee shall be considered eligible to participate in the Plan on the date he is notified that he is eligible to participate.
Notwithstanding the above, Employees who are paid on an hourly basis shall be considered as an excluded class for purposes of
the Plan and shall not be eligible to participate in the Plan.
An Employee eligible to participate in the Plan as provided in Section 3.01 hereof who is not a Participant may elect to become
a Participant in the Plan by electing to defer Compensation or by being credited with employer contributions as described in
Article 4 hereof.
Participation in the Plan for purposes of being able to make Elective Deferral Amounts under this Plan shall terminate when a
Participant’s employment with the Participating Companies as an Employee terminates, on the last day of the Plan Year during
which the Participant transfers to an excluded class of Employees, or on the last day of the Plan Year such Participant is no
longer designated by the Committee as an Employee eligible to participate in the Plan.
Notwithstanding any other provision of the Plan to the contrary, the Committee, in its sole discretion, may allow an Employee
eligible to participate in the Plan to elect to defer special compensation that such Employee may become eligible to receive in
the form of a Stock Grant.
3.01 Eli
g
ibilit
y
.
(a) Annual base salary of at least one-hundred fifty thousand dollars ($150,000),
(b) Employees who were actually enrolled in the Plan and making deferral contributions to the Plan in the first pay period of
2009.
3.02 Partici
p
ation.
3.03 Termination of Partici
p
ation for Pur
p
oses of Makin
g
Deferrals.
3.04 S
p
ecial Partici
p
ation for Pur
p
oses of Deferrin
g
Stock Grants
12/14/2008
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