AMD 1994 Annual Report Download - page 246

5. TERM AND TERMINATION
5.1 The Term of this Agreement shall extend until December 31, 1997 and may be
renewed for subsequent one (1) year periods by the mutual agreement of the
parties. The parties will discuss renewals of this Agreement at least six (6)
months prior to the expiration of each Term.
5.2 In the event of any breach of this Agreement by either party hereto, if
such breach is not corrected within sixty (60) days after written notice
describing such breach, this Agreement may be immediately terminated by further
written notice to that effect from the party noticing the breach. Termination
of this Agreement shall be in addition to any other rights and remedies which
may be available to the terminating party in law or in equity by reason of the
other party's breach such as the following:
5.2.1 If the Agreement is terminated for AMD's breach, the restriction
on exclusivity in Section 2.2 will terminate.
5.2.2 If the Agreement is terminated for TSMC's breach of Section 2.2,
2.3, 1.9, 3.1, 3.2.1, 6.1, 6.3 or 6.4, the restriction on exclusivity in Section
2.2 shall remain in effect for the period specified and the license of Section
2.3 will terminate.
5.2.3 If the Agreement is terminated for TSMC's breach other than
Section 5.2.2, the manufacturing exclusivity under Section 2.2 shall continue
until [CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES
AND EXCHANGE COMMISSION] and the license to TSMC under Section 2.3 shall be
suspended until [CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION].
5.3 Either party hereto shall also have the right to terminate this Agreement
forthwith by giving written notice of termination to the other party at any
time, upon or after:
5.3.1 the filing by such other party of a petition in bankruptcy or
insolvency; or
5.3.2 any adjudication that such other party is bankrupt or insolvent;
or
5.3.3 the filing by such other party of any legal action or document
seeking reorganization, readjustment or arrangement of its business under any
law relating to bankruptcy or insolvency; or
5.3.4 the appointment of a receiver for all or substantially all of the
property of such other party; or
5.3.5 the making by such other party of any assignment for the benefit
of creditors; or
5.3.6 the institution of any proceedings for the liquidation or winding
up of such other party's business or for the termination of its corporate
charter; or
5.3.7 the majority ownership or the controlling entity of the other
party is changed.
7
Source: ADVANCED MICRO DEVIC, 10-K, March 07, 1995