AMD 2004 Annual Report Download - page 138

Exhibit 10.18(c)
AMENDMENT NUMBER THREE TO THE
ADVANCED MICRO DEVICES
EXECUTIVE SAVINGS PLAN
Effective as of April 1, 1998, the Advanced Micro Devices Executive Savings Plan (the “Plan”) is amended in the following respects:
1. The first paragraph of Section 9.2 entitled “RESTRICTION AGAINST ASSIGNMENT” is amended in its entirety as follows:
The Company shall pay all amounts payable hereunder only to the person or persons designated by or under the Plan and not to any other person or
corporation. Except as otherwise provided in this Section 9.2 or Section 9.3, no part of a Participant’s Accounts shall be liable for the debts, contracts, or
engagements of any Participant, his or her Beneficiary, or successors in interest, nor shall a Participant’s Accounts be subject to execution by levy,
attachment, or garnishment or by any other legal or equitable proceeding, nor shall any such person have the right to alienate, anticipate, commute, pledge,
encumber, or assign any benefits or payments hereunder in any manner whatsoever. Except as otherwise provided in this Section 9.2 or Section 9.3, if any
Participant, Beneficiary or successor in interest is adjudicated bankrupt or purports to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge
any distribution or payment from the Plan, voluntarily or involuntarily, the Committee, in its discretion, may cancel such distribution or payment (or any
part thereof) to or for the benefit of such Participant, Beneficiary or successor in interest in such manner as the Committee shall direct.
2. A new Section 9.3 entitled “PAYMENT UNDER DOMESTIC RELATIONS ORDER” is hereby added after Section 9.2, entitled “RESTRICTION
AGAINST ASSIGNMENT” and before exiting Section 9.3, entitled “WITHHOLDING” (which now becomes Section 9.4), to read as follows:
9.3 Payment Under Domestic Relations Order.
The creation, assignment or recognition of a right of a Participant’s spouse or former spouse (“Alternate Payee”) to all or a portion of a Participant’s
Accounts pursuant to a state domestic relations order (“DRO”) shall not constitute a violation of Section 9.2 or any other provision of the Plan, provided
such order is consistent with the terms of the Plan and approved by the Committee or its delegate. Notwithstanding the foregoing or any provision of a
DRO to contrary, the Alternate Payee’s interest in the Plan shall remain the property of the Company and subject to the claims of its creditors until such
time as payments are made to the Alternate Payee in accordance with the terms of the DRO. In all cases, any amount assigned to an Alternate Payee
pursuant to a DRO shall be subject to Section 10.1 of the Plan as though such amounts were still credited to the Participant’s Accounts.
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Source: ADVANCED MICRO DEVIC, 10-K, March 01, 2005