Saks Fifth Avenue 2008 Annual Report Download - page 178

made as of each Valuation Date to the Participant’s Class Share shall be made in any manner that the Committee, in its sole
discretion, may direct. The “investment funds” shall consist of one or more mutual funds, collective funds or other similar funds
or arrangements designated by the Committee, in its sole discretion, for Participant’s investment elections. The Committee may,
in its sole discretion, offer shares of common stock of the Corporation as an investment fund, and may designate additional
investment funds or terminate existing investment funds. A Participant shall make investment elections at such times and in such
manner as required or allowed by the Committee. The investment election shall designate the portion of the Participant’s Class
Share which is to be treated as invested in each available investment fund. A Participant’s investment election shall remain in
effect until the Participant files a change in investment election with the Committee. A Participant may request a change in his
investment election with respect to future deferrals and, separately, with respect to existing balances, at any time, with such
request to be implemented at such time as the Committee deems appropriate. Investment election change requests shall be made
in such manner as prescribed by the Committee. If a Participant fails to make an investment election with respect to a Class
Share, the Participant’s Class Share shall be deemed invested in the default investment fund as indicated in Section 4.07 hereof.
A Participant’s Class Share shall continue to be adjusted under this Section 4.06 until deemed completely distributed in
accordance with the terms of the Plan.
The Committee shall have the authority to block or reverse investment changes involving shares of common stock of the
Corporation, in accordance with any “insider trading” rules or procedures maintained by the Corporation.
The Participant may later change the payout provisions only in accordance with the provisions of Section 5.02(c).
4.07 Default Provisions
(a) Default Class Share. In the event that the Participant fails to designate a Class Share to which a particular amount is to be
credited, the amount shall, by default, be credited to the Participant’s Retirement Class Share. The Participant may not later
move the amount to a different Class Share.
(b) Default Payout Provisions. In the event that an amount is credited, by default, to the Participant’s Retirement Class Share
and said Retirement Class Share has not been assigned payout provisions pursuant to Article 5 hereof, the payout
provisions applicable to the Retirement Class Share will, by default, be:
(1) one (1) installment;
(2) payable as provided in Section 5.02(b)(2)(A).
(c) Default Investment. The default investment fund shall be the investment fund designated for the “balanced asset class”
offered as an investment fund under this Plan. If there is no investment fund designated for the balanced asset class, then
the Committee, in its sole discretion, shall designate the default investment fund. In the event that a Participant fails to
designate the investment fund or funds applicable to any portion of his Account, then the default investment fund shall be
used as the investment fund for that portion of the Participant’s Account. The Participant may at any time thereafter change
the investment fund or funds applicable to that portion of his Account.
12/14/2008
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