AMD 2001 Annual Report Download - page 172

If AMD Experiences a "Change in Control"
You become 100% vested in your outstanding options if AMD experiences a "change
in control," and your employment is terminated by AMD for any reason other than
for misconduct or, if applicable, by constructive termination within one year
after such a change. A "change in control" occurs when:
. More than 20% of AMD has acquired by a single person or entity,
. Certain changes in the majority of AMD's Board of Directors occur during a
two-year period,
. A merger or consolidation of the company with or into another company,
. Stockholders of the company approve a plan of complete liquidation, or
. There is a sale or disposition of all or substantially all the company's
assets.
Exercising Your Stock Options
Once your options are vested, you can exercise them--that is, you can purchase
AMD common stock at the exercise price. You have a limited number of years from
the date of grant to exercise the options and take advantage of any increase in
the price of AMD stock above the exercise price. Most grants have a ten-year
life. The document for your stock option grant discloses the date on which your
options expire.
Your final opportunity to purchase your vested options is the last regular
business day of AMD before their expiration date. If you are waiting until that
last day, be sure that Treasury Services receives your completed Stock Option
Exercise form before 5:00 p.m. Pacific time.
If you leave AMD before the expiration date for your options, you have a limited
period of time after your termination date in which to exercise vested options.
See the section When You Leave AMD.
Treasury Services must receive your completed Stock Option Exercise form in
order for you to exercise your options and purchase shares, unless you are doing
an E*TRADE OptionsLink sale. You are responsible for knowing which options can
be exercised and the expiration dates for your options.
Detailed information regarding the number of shares exercisable can be obtained
24 hours a day/7 days a week via the following:
. The internet at www.optionslink.com, or
. The OptionsLink interactive voice response system at 1-800-838-0908.
Note: While you may look at your account information at any time through
OptionsLink, if you conduct an electronic transaction on the internet, then
E*Trade will act as your broker for that transaction (see the E*Trade
OptionsLink brochure for further details). If you wish to utilize a broker other
than E*Trade, you will have to contact that broker directly.
For more details on exercising your options, please refer to the summary
entitled "Stock Option Exercise Procedures" which is available at
http://amdonline/treassvc.
There are four ways to exercise vested AMD options that have not expired:
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Source: ADVANCED MICRO DEVIC, 10-K, March 07, 2002