EMC 2011 Annual Report Download - page 110

the Administrator may require that a single percentage apply to certain types of Compensation. The election will generally be effective as of the first day of
the Plan Year to which it applies. Elections for initial years of eligibility under Section 4.1(a)(2) are effective as of the thirtieth (30th) day after initial
eligibility. Elections for Performance-Based Bonuses will be effective no later than six (6) months prior to the end of the applicable performance period.
(2) Time and Form of Distribution. Each Participant must indicate on the election form when the amount to be deferred for the applicable
Plan Year is to be paid or, in the case of installments, is to commence being paid (e.g., upon Retirement, upon a fixed distribution date under 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).
(3) Irrevocability. Except as provided in Section 4.1(c), an election under Section 4.1(a) will become irrevocable for the applicable Plan
Year as of a date set by the Administrator that is no later than the close of business on the date immediately before the date the election becomes effective
under (1) above.
(c) Election to Change Time of Distribution. Any Participant who has made an irrevocable election to defer Compensation under Section 4.1(a)
may make an additional election to change the time of distribution and, in the Administrator's sole discretion, may also make an additional election to change
the form of distribution. Any election to change the time or form of distribution cannot take effect until at least twelve (12) months after the date of the
election and must defer payment not less than five (5) years from the date payment would otherwise be made. If a Participant changes his or her election with
respect to amounts that would be paid in installments, the additional election must apply to all installments associated with the Plan Year (i.e., each
installment must be delayed for at least five (5) years from its originally scheduled commencement date). Where a Participant initially elects a fixed
distribution date under Section 6.2, an election to change the timing of the payment must be made no less than twelve (12) months before the originally
scheduled fixed distribution date.
4.2. Company Credits. Notwithstanding any other provisions of the Plan, the Company is not obligated to credit a Company Credit to the Company
Credit Subaccount of a Company Credit Eligible Employee. However, the Company may make a Company Credit to the Company Credit Subaccount of a
Company Credit Eligible Employee in an amount the Company determines in its sole discretion.
Article 5. ACCOUNTS; INTEREST
5.1. Accounts. The Administrator will 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. Elective Deferrals will be credited to each Participant's
Elective Deferral Subaccount as soon as administratively
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