EMC 2006 Annual Report Download - page 117

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otherwise) prescribed or approved by the Administrator, shall be irrevocable by the Participant for the applicable Plan Year, except as provided in
Section 4.1(c), and is effective only once the election form is completed and filed with the Administrator. The election form shall specify the whole
percentage or flat dollar amount of each type of Compensation that is to be deferred for the applicable Plan Year. In accordance with Article 6, each
Participant shall indicate on the election form when the amount that is to be deferred for the applicable Plan Year is to be paid (e.g., upon Retirement or
Resignation of Service, upon a fixed distribution date pursuant to Section 6.2, or upon a Change of Control) and the method of payment (e.g., in a
single lump sum payment, in a number of annual installments or in any other method approved by the Administrator). The deferred amounts shall be
credited to the Participant's Elective Deferral Subaccount as of the date such Compensation would otherwise have been paid to the Participant.
(c) Election to Change Time or Form of Distribution. Any Participant who has made an initial election to defer Compensation under
Section 4.1(a) may make an additional election to change the time or form of distribution. Any such election to change the time or form of distribution
shall not take effect until at least 12 months after the date of the election, must defer payment not less than 5 years from the date payment would
otherwise be made or, in the case of installments, would begin to be made, and, where the original election was to a fixed distribution date pursuant to
Section 6.2, must be made no less than 12 months prior to the date of the otherwise scheduled first distribution date.
4.2. Company Credits. Notwithstanding any other provisions of the Plan, the Company shall not be obligated to credit a Company Credit to the
Company Credit Subaccount of a Company Credit Eligible Employee. The Company may determine from time to time, in its sole discretion, to credit a
Company Credit, in an amount the Company may determine in its sole discretion, to the Company Credit Subaccount of a Company Credit Eligible
Employee.
Article 5. ACCOUNTS; INTEREST
5.1. Accounts. The Administrator shall establish an Account for each Participant consisting of an Elective Deferral Subaccount and Company Credit
Subaccount, reflecting Elective Deferrals and Company Credits, respectively, and any adjustments hereunder. As soon as reasonably practical after the end of
each Plan Year, the Administrator shall provide the Participant with a statement of his or her Account.
5.2. Earnings Measurement. The Administrator shall identify one or more funds (such as mutual funds or bank collective funds) from time to time for
the purpose of measuring earnings credits to Participants' Accounts. Each Participant may specify which one or more of such funds he or she wishes to be
used as a measuring vehicle for designated percentages of his
5