Saks Fifth Avenue 2008 Annual Report Download - page 181

The Participant may designate in such manner as is required by the Committee primary and contingent Beneficiaries to receive
any deferred compensation benefit payments which may be payable hereunder following the Participant’s death and the
proportions in which such Beneficiaries are to receive such payments. The Participant may change such designation from time
to time and the last designation delivered to the Committee or its agent prior to the Participant’s death will control. If the
Participant fails to specifically designate such a Beneficiary, or if no designated Beneficiary survives the Participant, or if all
designated Beneficiaries who survive the Participant die before all payments are made, then the remaining payments shall be
made to the Participant’s surviving spouse if such spouse is then living; if such spouse is not living, then to the executors or
administrators of the estate of the Participant. The Committee may determine the identity of such persons and shall incur no
responsibility by reason of the payment of such interest in accordance with any such determination made in good faith.
Notwithstanding any other provision in the Plan, a Participant due a benefit attributable to Separation from Service who is a
Specified Employee as of the date his Separation from Service occurs shall have the commencement of his benefit delayed for a
period of six (6) months following the date his Separation from Service occurs.
Notwithstanding anything in thie Plan to the contrary, a payment under the Plan shall be paid no later than the last day of the
calendar year of the date of event triggering payment or, if later, by the 15
th
day of the third calendar month following of the date
of the event triggering payment.
In the event of an Unforeseeable Emergency, a Participant may, notwithstanding the other provisions of this Article 5, request to
receive a distribution from his Account (exclusive of his Frozen Account) in an amount not to exceed the amount reasonably
necessary to meet the Unforeseeable Emergency. A distribution may not be made under this Section if the Unforeseeable
Emergency is or may be relieved through reimbursement or compensation from insurance, liquidation of the Participant’s assets
(to the extent this liquidation would not itself cause a severe financial hardship), or by cessation of deferrals under this Plan.
Distributions from the Participant’s Stock Grant Account shall be in the form of cash. Notwithstanding the foregoing, the
Participant may elect to have distributions from his Stock Grant Account be made in the form of shares of Corporation Stock,
provided that an amount equal to any partial shares shall be distributed in cash.
In the event of a Change in Control, vested benefits of Participants shall be paid after the Change in Control. Notwithstanding
the foregoing, a Participant may, subject to the election change provisions of Section 5.02(c) hereof, elect to have his vested
Accounts maintained in the Plan and paid as otherwise provided in this Article 5.
5.06 Designation of Beneficiaries.
5.07 Six-Month Dela
y
for S
p
ecified Em
p
lo
y
ees.
5.08 Short-Term Dela
y
s.
5.09 Hardshi
p
Withdrawals.
5.10 Distributions from Stock Grant Account.
5.11 Distributions in Event of Chan
g
e in Control.
12/14/2008
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