Saks Fifth Avenue 2008 Annual Report Download - page 183

ARTICLE 6
FINANCING AND UNFUNDED STATUS
The costs of the Plan shall be borne by the Participating Companies or, at the election of the Committee, by the trust if one is
created pursuant to Section 6.02 hereof.
Benefits payable under the Plan to any Participant shall be paid directly by the Participating Company which employs the
Participant. The Participating Company shall not be required to fund or otherwise segregate assets to be used for payment of
benefits under the Plan. While the Participating Company may, in the discretion of the Committee, make investments in the
funds designated by the Committee as investment funds in amounts equal or unequal to Participants’ Accounts hereunder, the
Participating Company shall not be under any obligation to make such investments and any such investment shall remain an
asset of the Participating Company subject to the claims of its general creditors. Notwithstanding the foregoing, the Corporation,
in its discretion, may maintain one or more grantor trusts (“trust”) to hold assets to be used for payment of benefits under the
Plan. The assets of the trust with respect to benefits payable to the employees of each Participating Company shall remain the
assets of such Participating Company subject to the claims of its general creditors. Any payments by a trust of benefits provided
to a Participant under the Plan shall be considered payment by the Participating Company and shall discharge the Participating
Company of any further liability under the Plan for such payments.
This Plan is intended to be unfunded for purposes of both ERISA and the Code.
6.01 Costs Borne b
y
the Partici
p
atin
g
Com
p
anies.
6.02 Source of Benefit Payments and Medium of Financing the Plan.
6.03 Unfunded Status.
12/14/2008
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