AMD 2007 Annual Report Download - page 196

(b) Form of Payment. A Participant’s 409A Benefits Subaccount shall be paid to the Participant in one of the following forms:
(1) In a single lump sum cash payment; or
(2) In cash payments in annual installments for a term from three (3) to ten (10) years payable to such Participant or, in the event of such
Participant’s death prior to the end of such term certain, to his designated beneficiary as provided in Section 8.4. This form of payment will
apply only if the value of the Participant’s 409A Benefits Subaccount is not less than $25,000. If such value is less than $25,000 on the date
a Triggering Event occurs, the Participant shall receive distribution in the form of a single lump sum cash payment.
(c) Time and Applicability of Election. With respect to a Participant’s 409A Benefits Subaccount for each Plan Year, the Participant must elect one of
the forms of payment listed in subsection (b) above at the time the deferral election that applies to such 409A Benefits is made. Except as provided
in subsection (d) below, such election shall be effective solely with respect to the amounts deferred pursuant to the election, shall be irrevocable by
the Participant except as provided in subsection (d), and shall remain in effect for all periods of a Participant’s participation in the Plan. In the event
a Participant fails to timely elect the form in which amounts attributable to 409A Benefits is to be paid, the Participant shall be deemed to have
elected payment of such amounts in the form of a single lump sum cash payment.
(d) Change in the Form of Payment. With respect to a Participant’s 409A Benefits Subaccount, a modification of the Participant’s previous
distribution election shall not be effective unless all of the following requirements are satisfied:
(1) The modified election shall not be effective for at least twelve (12) months following the date on which the modified election is filed with
the Committee.
(2) Except in the case of modified elections relating to distributions on account of death, Disability, or Unforeseeable Emergency, the modified
election must provide that payment will not be made or commence for at least five (5) years from the date payment would otherwise have
been made or commenced.
(3) A modified election relating to a distribution to be made on a specified future date or under a fixed payment schedule shall be filed at least
twelve (12) months prior to the date of the first otherwise scheduled payment.
(4) A modified election shall not accelerate the time or schedule of any payment under the Plan, except as may be permitted pursuant to
applicable Treasury Regulations.
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Source: ADVANCED MICRO DEVIC, 10-K, February 26, 2008