EMC 2010 Annual Report Download - page 113

6.5. Payment Upon a Change of Control. A Participant may elect, in accordance with Section 4.1, to receive the balance of his or her Account in a
single lump sum thirty (30) days following the Change of Control. Payments will generally be made in cash, except that Compensation payable in Company
Stock may be paid in Company Stock.
6.6. Payment or Cessation of Deferrals Upon Unforeseeable Emergency.
(a) General. A Participant is not generally entitled to a distribution of any portion of his or her Account before payments are otherwise due in
accordance with the Plan and any timely election made under the Plan. However, if a Participant has an unforeseeable emergency that results in a severe
financial hardship, the Administrator may authorize, on a nondiscriminatory basis, a cessation of deferrals under this Plan and/or a distribution from the
Participant's Elective Deferral Subaccount in the minimum amount required to meet the need created by the unforeseeable emergency (including any
taxes or penalties due as a result of the distribution). The distribution will be paid within seven (7) days after the Administrator determines that the
unforeseeable emergency exists under (b) below.
(b) Unforeseeable Emergency. An "unforeseeable emergency" is a severe financial hardship to the Participant resulting: (1) from an illness or
accident of the Participant or of the Participant's spouse, beneficiary, or dependent (as defined in Code section 152, without regard to section 152(b)(1),
(b)(2), and (d)(1)(B)); (2) from the loss of the Participant's property due to casualty (including the need to rebuild a home following damage to the
home not otherwise covered by insurance); or (3) from other similar extraordinary and unforeseeable circumstances arising as a result of events beyond
the Participant's control (e.g., the imminent foreclosure of or eviction from the Participant's primary residence, the need to pay for medical expenses and
prescription drugs or funeral expenses of a spouse, beneficiary or dependent).
The Participant must supply written evidence of the financial hardship and must declare, under penalties of perjury, that the Participant has no
other resources available to meet the emergency. The Participant must also declare that the need cannot be met by any of the following:
(1) reimbursement or compensation by insurance or otherwise; (2) reasonable liquidation of the Participant's assets to the extent the liquidation will not
itself cause severe financial hardship; or (3) ceasing the Participant's deferrals under this Plan.
(c) Hardship Distribution Under 401(k) Plan. In the event a Participant receives a hardship distribution pursuant to the regulations under
section 401(k) of the Code, from the Company's 401(k) Plan, deferrals under this Plan shall cease for a period of six months.
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