AMD 1994 Annual Report Download - page 154

has terminated a prior Salary, commissions or Bonus deferral election may elect
to again defer Salary, commissions or Bonuses or any combination thereof, by
filing an appropriate election, on a form provided by the Committee, to defer
Compensation. An election to defer Salary and/or commissions must be filed on
or before the Election Date and will be effective for Salary and/or commissions
earned during pay periods beginning after the following December 25. An
election to defer a portion of each Bonus for a Fiscal Year must be filed on or
before the Election Date preceding the date the Bonus first becomes fixed and
determinable; provided, however, that, effective as of January 1, 1995, an
election to defer a Bonus for a Fiscal Year, or for a performance period ending
with the close of a Fiscal Year, must be made on or before June 30 of such
Fiscal Year.
(d) Duration of Salary Deferral Election. Any Salary deferral
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election made under paragraph (b) or paragraph (c) of this Section 3.1 shall
remain in effect, notwithstanding any change in the Participant's Salary, until
changed or terminated in accordance with the terms of this paragraph (d);
provided, however, that such election shall terminate for Salary or commissions
paid while the Participant is not an Eligible Employee. A Participant may
increase, decrease or terminate his or her Salary and/or commission deferral
election, effective for Salary and/or commissions earned during pay periods
beginning after any December 25, by filing a new election, in accordance with
the terms of this Section 3.1, with the Committee on or before the preceding
Election Date.
(e) Duration of Bonus Deferral Election. Any Bonus deferral election
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made under paragraph (b) or paragraph (c) of this Section 3.1 shall be
irrevocable and shall apply only to the Bonus or Bonuses payable with respect to
services performed during the Fiscal Year or the performance period ending with
the close of such Fiscal Year, for which the election is made. For each
subsequent Fiscal Year, or performance period ending with the close of any
subsequent Fiscal Year, an Eligible Employee may make a new election to defer a
percentage of each of his or her Bonuses for that Fiscal Year. Such election
shall be on forms provided by the Committee and shall be made on or before the
Election Date of the Fiscal Year preceding the Fiscal Year in which the Bonus
otherwise would be paid. Notwithstanding the foregoing, effective as of January
1, 1995, the election to defer a Bonus for a Fiscal Year, or for a performance
period ending with the close of a Fiscal Year, must be made on or before June 30
of such Fiscal Year.
3.2 Investment Elections.
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(a) At the time of making the deferral elections described in Section
3.1, the Participant shall designate, on a form provided by the Committee, which
of the types of mutual funds or contracts the Participant's Accounts will be
deemed to be invested in for purposes of determining the amount of earnings
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Source: ADVANCED MICRO DEVIC, 10-K, March 07, 1995