Saks Fifth Avenue 2008 Annual Report Download - page 174

ARTICLE 4
ACCOUNTS
On behalf of Participating Companies, Accounts shall be established and maintained for Participants as described in this
Section 4.01. All accounts shall be book reserve accounts only, and all amounts credited to such Accounts shall be solely
for computation purposes. The Committee shall have the authority to establish rules concerning the creation, operation and
maintenance of such Accounts and Class Shares thereunder.
4.01 Accounts.
(a) Deferred Compensation Account. A Deferred Compensation Account shall be established and maintained for each
Participant or former Participant, as needed, for the purpose of determining deferred compensation payable to the
Participant attributable to Elective Deferral Amounts, Lost Match Amounts and Other Employer Amounts. In addition, a
Participant may choose to maintain up to four Class Shares under the Deferred Compensation Account, as follows:
(1) Retirement Class Share - A Participant may elect to maintain either zero or one Retirement Class Share in the
Deferred Compensation Account.
(2) In-service Class Shares - A Participant may elect to maintain up to three In-Service Class Shares in the Deferred
Compensation Account.
(b) Stock Grant Account. A Stock Grant Account shall be established and maintained for each Participant or former
Participant, as needed, for the purpose of determining deferred compensation payable to the Participant attributable to
Stock Grant Deferral Amounts. In addition, a Participant may choose to maintain up to three Class Shares under the Stock
Grant Account, as follows:
(1) Retirement Class Share - A Participant may elect to maintain either zero or one Retirement Class Share in the Stock
Grant Account.
(2) In-service Class Shares - A Participant may elect to maintain up to two In-Service Class Shares in the Stock Grant
Account.
(c) Frozen Account. A Frozen Account shall be maintained for each Participant or former Participant with an Account under
the Plan as of December 31, 2004, with a beginning balance on December 31, 2004 equal to the total balance of the
Participant’s Account on that date. No additional contribution credits shall be made to such Frozen Accounts after
December 31, 2004, but Investment Credits shall continue to be credited. Frozen Accounts are exempt from the
requirements of Code section 409A and the regulations thereunder, and any future amendments to the Plan shall not apply
to Frozen Accounts except as expressly provided in such amendments.
(d) Vestin
g
. All Accounts in the Plan shall be fully vested at all times.
12/14/2008
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