Saks Fifth Avenue 2008 Annual Report Download - page 179

ARTICLE 5
DISTRIBUTION OF DEFERRED COMPENSATION BENEFITS
Except with regard to the payment of Frozen Accounts as described in Section 4.01(c) hereof, the benefits to be paid as deferred
compensation are governed by the provisions of this Article 5. Frozen Accounts are subject to the distribution rules under the
Plan as it existed on December 31, 2004, and are not subject to the distribution rules described in Article 5 hereof.
If a Participant fails to make an election between (A) and (B), he will be deemed to have elected the commencement
date under (A) above.
5.01 In General.
5.02 Scheduled Retirement and In-Service Distributions.
(a) Elections. The Corporation, on behalf of the Participating Company or Companies, shall distribute benefits pursuant to this
Section based on the Class Shares elected by the Participant, as provided herein. Payout parameters and investment
elections shall be made with respect to each Class Share established pursuant to Section 4.01 when that Class Share is
initially established.
(b) Scheduled Payments. Benefit payments under this Section shall be made in annual installments based on the payment
schedule elected by the Participant. If the Participant elects to receive only one installment, the entire balance in the
applicable Class Share shall be paid in a single lump sum payment. The payout parameters available to the Participant are
as follows:
(1) For each In-Service Class Share the Participant shall designate the number of annual installments, from one to ten,
and the year in which installments are to commence, with scheduled distributions to be made as of January 31 of the
scheduled year, based on the Class Share value as of the last business day in that January.
(2) For each Retirement Class Share the Participant shall designate the number of annual installments, from one to
fifteen. In addition, the Participant shall elect (with respect to each Retirement Class Share) whether installments are
to commence:
(A) as soon as possible after Retirement, as determined by the Corporation, with the initial scheduled distribution
to be made no later than ninety (90) days after Retirement and subsequent scheduled distributions to be made
as of January 31 of the scheduled year, based on the Class Share value as of the last day in that January.
(B) the calendar year after the calendar year in which Retirement occurs, with scheduled distributions to be made
as of January 31 of the scheduled year, based on the Class Share value as of the last business day in that
January.
12/14/2008
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