AMD 1993 Annual Report Download - page 338
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15
reduced, but not to less than zero, by the Offset Value. This offset shall
first be applied to the Participant's Company Matching Account and then to the
Participant's Deferral Account.
(b) If the Policy in subsection (a) is not on the
life of the Participant and the insured dies prior to distribution of benefits
under this Plan, then the value of the benefits received by the Participant
under the Policy will offset the Participant's Accounts under this Plan. This
offset ("Offset Value") shall be equal to the amount of death benefit payable
to the Participant divided by the Tax Adjustment Factor. This Offset Value
shall then be compared to the Participant's Accounts, and the amounts credited
to the Accounts shall be reduced, but not to be less than zero, by the Offset
Value. This offset shall first be applied to the Participant's Company
Matching Account and then to the Participant's Deferral Account.
IN WITNESS WHEREOF, the Company has caused this Executive
Savings Plan to be executed by its duly authorized officers on this _____ day
of ________, 19__.
ADVANCED MICRO DEVICES, INC.
By___________________________
Stanley Winvick
Senior Vice President,
Human Resources
By___________________________
Marvin D. Burkett
Senior Vice President
and Chief Financial Officer
15
Source: ADVANCED MICRO DEVIC, 10-K, March 07, 1994