Dell 2000 Annual Report Download - page 50

(2) with respect to Bonus deferrals, by filing an
election with the Committee during the thirty
(30)-day period commencing on the date of such
selection or prior to the Election Date for any
subsequent Bonus Year, provided,
-7-
<PAGE> 12
however, that an individual designated as an Employee
after the first day of the fourth fiscal quarter of
the Company shall not be permitted to file an
election for such Bonus Year.
(c) Once an individual has been designated as an Employee and
commences Plan participation, he shall remain a Participant
eligible to participate in the Plan each Plan Year or Bonus
Year until his participation is terminated in accordance with
Section 2.2 or the Committee terminates his designation as an
Employee under this Plan.
2.2 TERMINATION OF PARTICIPATION. Notwithstanding any provision herein to
the contrary, an individual who has become or is entitled to become a
Participant of the Plan shall cease to be or be entitled to be a
Participant effective as of the earliest to occur of (1) the date the
Participant is no longer employed by the Company or (2) any earlier
date designated by the Committee and communicated to the affected
individual prior to the effective date of such action.
2.3 REEMPLOYMENT OF A PARTICIPANT. A Participant who terminates employment
with the Company and is subsequently rehired by the Company shall not
be entitled to commence or continue participation in the Plan unless
and until he is again eligible to become a Participant in accordance
with Section 2.1. In the case of such a rehired Participant, his
recommencement of Plan participation, if any, shall be considered as
his initial commencement of participation for purposes of the Plan.
ARTICLE III.
CONTRIBUTIONS
3.1 PARTICIPANT COMPENSATION DEFERRALS. Each Participant may elect to defer
a portion of his Compensation in accordance with this Section.
Compensation not deferred by a Participant pursuant to this Section
shall, for purposes of this Plan, be received by such Participant in
cash.
(a) BASE SALARY DEFERRALS.
(1) Each Participant may elect to defer receipt of an
integral percentage of from 1% to 50% of his Base
Salary for any Plan Year under the Plan as Base
Salary deferrals. Notwithstanding the preceding, the
Committee may, by resolution, provide that the
maximum deferral limit for certain groups of
Participants shall be less than fifty percent (50%).
Such election must be made in the form and within the
time period required by the Committee.
(2) A Participant's election to defer Base Salary for any
Plan Year under the Plan must be made on or prior to
the Election Date for Base Salary deferrals.
(3) If an Employee becomes initially eligible under the
Plan following an Election Date, he may make an
election to defer Base Salary for the remaining
portion of the Plan Year by filing an election within
the thirty (30) day period following the date of his
initial eligibility.
-8-
<PAGE> 13
(4) A Participant's election to make Base Salary
deferrals shall become effective as of the Election
Date coincident with or next following the date such
Participant executes and files with the Committee the
form described in Paragraph (1) above.
Notwithstanding the foregoing, if a Participant is
selected as initially eligible under the Plan
following an Election Date, such Participant's
election to make Base Salary deferrals shall become
effective as soon as administratively feasible
following the date such election is received by the
Committee; provided, however, that such election
shall apply no earlier than the first day of the