AMD 1994 Annual Report Download - page 158

(2) The first annual installment shall be paid within 90 days
following the end of the Plan Year during which the Participant's
employment with the Company terminates. Subsequent installments shall be
paid on the annual anniversaries of the first installment payment.
(3) Notwithstanding anything contained in Sections 4.1(c) or
4.2(b) to the contrary, beginning with the month following the month in
which the Participant's employment with the Company terminates and
continuing until all amounts credited to his or her Accounts have been
distributed, the Participant's Accounts will be credited with interest, as
of the end of each month, at the rate determined by the Committee from time
to time, which rate shall be either (1) the rate of return of a
professionally managed fixed income fund for such month or (2) one-twelfth
of the annual prime rate of interest declared by Bank of America, N.A.,
Wells Fargo Bank, N.A. or First Interstate Bank of California and in effect
on the first day of such month.
6.3 Termination of Participation
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The Company reserves the unilateral right to terminate or restrict 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.
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(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.
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Source: ADVANCED MICRO DEVIC, 10-K, March 07, 1995