AMD 2007 Annual Report Download - page 187

(b) A Participant who transfers employment with the Company to a related business entity (an “Employer”) shall continue to be classified as a
Participant with the Company for purposes of this Plan. A related business entity shall include a controlled group member company, an affiliated
management or service group member company, a subsidiary or joint venture of the Company, or other related business entity as defined in Code
Section 414(b), (c), (m) or (n).
(c) Notwithstanding subsection (a) above, if an individual is hired by the Company during Plan Year and is designated by the Committee as an Eligible
Employee on his date of hire, such Eligible Employee may file a deferral election with the Committee within the thirty (30)-day period following the
date he becomes an Eligible Employee. This election shall be made no later than the last day of his Initial Election Period.
ARTICLE III.
CONTRIBUTIONS
3.1 Participant Compensation Deferrals. Each Participant may elect to defer a portion of his Compensation in accordance with this Section. Compensation
not deferred by a Participant pursuant to this Section shall, for purposes of this Plan, be received by such Participant in cash.
(a) General Rule. The amount of Compensation that an Eligible Employee may elect to defer is such Compensation earned on or after the time at
which the Eligible Employee elects to defer in accordance with Section 2.1 and shall be a flat dollar amount or percentage, each of which shall not
exceed fifty percent (50%) of the Eligible Employee’s Base Salary and/or one-hundred percent (100%) of the Eligible Employee’s incentive sales
commissions and Bonuses, provided that the total amount deferred by a Participant shall be limited in any calendar year, if necessary, to satisfy
Social Security Tax (including Medicare), income tax and employee benefit plan withholding requirements as determined in the sole and absolute
discretion of the Committee.
(1) A Participant’s initial election to defer Compensation shall be made prior to the end of his Initial Election Period and shall be effective with
respect to Compensation received after such deferral election is processed.
(2) A Participant’s election to defer Compensation for any Plan Year shall be made during the Election Period for the Plan Year and shall be
irrevocable for such Plan Year.
(b) Cancellation of Base Salary Deferral Election. A Participant may not cancel or modify his Compensation Deferral election applicable to a Plan
Year at any time during a Plan Year.
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Source: ADVANCED MICRO DEVIC, 10-K, February 26, 2008