AMD 1993 Annual Report Download - page 332

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6.3 - Termination of Participation
The Company reserves the unilateral right to terminate a
Participant's participation at any time, and distribute all amounts due to such
Participant.
ARTICLE VII
PARTICIPANT LOANS
7.1 - Hardship Loans to Participants.
(a) Subject to the approval of the Committee and
guidelines promulgated by the Committee, each Participant may borrow from the
Company in order to meet a financial hardship to the Participant resulting from
(1) an illness or accident of the Participant or a dependent of the
Participant, (2) loss of the Participant's property due to casualty or (3)
other similar circumstances arising as a result of events beyond the control of
the Participant. Each loan made pursuant to this Section 7.1 shall be
evidenced by a note from the Participant on a form provided by the Committee.
Such note shall bear interest at a rate equal to that necessary to avoid
imputed interest under Sections 7872 and 1274(d) of the Code and have such
other terms as the Committee shall determine.
(b) The Committee may make a loan under this
Section 7.1 only if the amount of the loans outstanding does not exceed the
amount required to meet the immediate financial need created by such hardship
and does not exceed 65% of the combined balance of the Participant's Deferral
Account and Loan Account as of the first day of the month next following the
Committee's acceptance of the Participant's written application for a hardship
loan.
(c) The Committee shall, upon making a loan to a
Participant, establish and maintain a Loan Account for the Participant. The
Committee shall debit the mutual fund subaccounts maintained under the
Participant's Deferral Account on a pro-rata basis or on such other basis as
the Committee deems appropriate or desirable and shall credit the Participant's
Loan Account in an amount equal to the amount of the loan. The amount credited
to a Participant's Loan Account shall not be deemed to be invested as directed
by the Participant under Section 3.2(a) but shall be deemed to be invested in
the note given to the Company by the Participant under this Section 7.1.
(d) As of the last day of each month, the
Participant's Loan Account will be credited with interest for the period since
the last day of the preceding month,
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Source: ADVANCED MICRO DEVIC, 10-K, March 07, 1994