Saks Fifth Avenue 2008 Annual Report Download - page 180

Upon Retirement, any remaining scheduled in-service distributions shall, except as provided in Sections 5.04 and 5.05
hereof, be made in accordance with the previously determined schedule.
For purposes of the timing rules for payment elections described in this subsection (c), installment payments shall be
treated as a single payment which occurs on the date of the first installment.
If a Participant experiences a Separation from Service for any reason prior to qualifying for Retirement, subject to Section 5.07,
the Participant’s vested Accounts shall be paid in a lump sum within ninety (90) days of the date of Separation from Service, as
determined by the Corporation.
If the Participant experiences a Disability before his benefit under the Plan has been fully distributed to him, then the deferred
compensation benefits otherwise payable with respect to such Participant under the Plan shall be paid in a lump sum to the
Participant as soon as administratively possible, as determined by the Corporation, but not more than ninety (90) days, after the
Committee determines that the Participant meets the conditions stipulated in Section 2.15 hereof regarding Disability.
If the Participant dies before his benefit under the Plan has been fully distributed to him, then the deferred compensation benefits
otherwise payable with respect to such Participant under the Plan shall be paid in a lump sum to the Beneficiary or Beneficiaries
designated by the Participant as soon as administratively possible, as determined by the Corporation, but not more than ninety
(90) days, after the Participant’s death.
(c) Changes to Payout Parameters. A participant may elect to change the payout parameters for any Class Share under the
following conditions:
(1) Any such change election shall not be effective until twelve (12) months after the date on which the election is
made.
(2) Any such change election related to a Class Share shall result in at least a five (5) year delay in the payments from
that Class Share.
(3) Any such change election related to an In-Service Class Share must be made at least twelve (12) months prior to the
initial payment from that In-Service Class Share.
5.03 Se
p
aration from Service Prior to Retirement.
5.04 Pa
y
ments After Partici
p
ant’s Disabilit
y
.
5.05 Pa
y
ments After Partici
p
ant’s Death.
12/14/2008
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