AMD 1994 Annual Report Download - page 180

notification of Assignee. The Insurer shall not be responsible to ensure that
the actions of the Owner conform to the Agreement.
(b) Assignee hereby acknowledges that for purposes of this Collateral
Security Assignment, Assignee shall be conclusively deemed to have been
properly notified of Owner's purported exercise of his or her ownership rights
as of the third business day following either of the following events: (1)
Owner mails written notice of such exercise to Assignee by United States
certified mail, postage paid, at the address below and provides the Insurer with
a copy of such notice and a copy of the certified mail receipt or (2) the
Insurer mails written notice of such exercise to Assignee by regular United
States mail, postage paid, at the address set forth below:
Advanced Micro Devices, Inc.
One AMD Place
M/S 181
Sunnyvale, California 94088
Attn: Corporate Compensation Manager
The foregoing address shall be the appropriate address for such notices to be
sent unless and until the receipt by both Owner and the Insurer of a written
notice from Assignee of a change in such address.
(c) Notwithstanding the foregoing, Owner and Assignee hereby agree that,
until Assignee's security interest in the Policy is released, Assignee shall
from time to time designate one or more individuals (the "Designee"), who may be
officers of Assignee, who shall be entitled to adjust the death benefit under
the Policy and to direct the investments under the Policy; provided, however,
that the Designee may only increase, but not decrease, the death benefit in
effect on the date that the Policy is issued; provided further, that the
Designee may only direct the investments under the Policy in funds offered by
the Insurer under the Policy. Assignee shall notify the Insurer in writing of
the identity of the Designee and any changes in the identity of the Designee.
Until Assignee's security interest in the Policy is released, no other party may
adjust the death benefit or direct the investments under the Policy without the
consent of the Assignee and the Owner.
4. If the Policy is in the possession of the Assignee, the Assignee
shall, upon request, forward the Policy to the Insurer without unreasonable
delay for endorsement of any designation or change of beneficiary or the
exercise of any other right reserved by the Owner.
5.(a) Assignee shall be entitled to exercise its rights under the
Agreement by delivering a written notice to Insurer, executed by the Assignee
and the Owner or the Owner's beneficiary, requesting either (1) a withdrawal or
nonrecourse policy
A-3
Source: ADVANCED MICRO DEVIC, 10-K, March 07, 1995