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Exhibit 10.48

Redacted Version

Confidential Treatment Marked

Cooperation Agreement

(hereinafter referred to as the “Agreement”)

between

1. The Free State of Saxony, represented by the Saxon State Ministry of Finance and the Saxon State Ministry for Economic Affairs and Labor,

represented by the Minister Dr. Horst Metz and Undersecretary Mrs. Andrea Fischer

- hereinafter referred to as “Saxony” -

and

2. Advanced Micro Devices, Inc., One AMD Place, Sunnyvale, CA 94088, USA

- hereinafter referred to as “AMD” -

and

3. M+W Zander Fünfte Verwaltungsgesellschaft mbH, Lotterbergstr. 30, 70499 Stuttgart, entered under HRB 23351 in the Commercial Register of

the Stuttgart Local Court (Amtsgericht)

- hereinafter referred to “M+W” -

Saxony, AMD and M+W will each be hereinafter referred to as a “Party” and together as the “Parties”.

Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality request.

Omissions are designated as [***]. A complete version of the exhibit has been filed separately with the Securities and Exchange Commission.

Source: ADVANCED MICRO DEVIC, 10-K, March 01, 2005