AMD 2007 Annual Report Download - page 204

11.2 Unfunded Nature of Plan. The Plan is intended to constitute an unfunded, unsecured plan of deferred compensation for a select group of management or
highly compensated employees of the Company or an Employer. Further, it is the intention of the Company, as Plan sponsor, that the Plan be “unfunded”
for purposes of the Code and Title I of ERISA. The Plan constitutes a mere promise by the Company to make benefit payments in the future. Plan benefits
herein provided are to be paid out of an Employer’s general assets, and Participants shall have the status of general unsecured creditors of the Company.
11.3 Funding of Obligation. The adoption of this Plan and any setting aside of amounts by the Company from which to discharge their obligations hereunder
shall not be deemed to create a trust; legal and equitable title to any funds so set aside shall remain with the Company, and any recipient of benefits
hereunder shall have no security or other interest in such funds. Any and all funds so set aside shall remain subject to the claims of the general creditors of
the Company, present and future. This provision shall not require the Company to set aside any funds, but the Company may set aside funds if it chooses
to do so.
ARTICLE XII.
MISCELLANEOUS
12.1 Not Contract of Employment. The adoption and maintenance of the Plan shall not be deemed to be a contract between the Company and any person or to
be consideration for the employment of any person. Nothing herein contained shall be deemed to give any person the right to be retained in the employ of
the Company or to restrict the right of the Company to discharge any person at any time, nor shall the Plan be deemed to give the Company the right to
require any person to remain in the employ of the Company or to restrict any person’s right to terminate his employment at any time.
12.2 Alienation of Interest Forbidden. The interest of a Participant or his beneficiary or beneficiaries hereunder may not be sold, transferred, assigned, or
encumbered in any manner, either voluntarily or involuntarily, and any attempt to so anticipate, alienate, sell, transfer, assign, pledge, encumber, or charge
the same shall be null and void, nor shall the benefits hereunder be liable for or subject to the debts, contracts, liabilities, engagements, or torts of any
person to whom such benefits or funds are payable, nor shall they be an asset in bankruptcy or subject to garnishment, attachment, or other legal or
equitable proceedings. The preceding notwithstanding, the Committee shall comply with the terms and provisions of an order that would qualify as a
QDRO.
12.3 Withholding. All Compensation Deferrals, Company Credits, and benefit payments provided for hereunder shall be subject to applicable withholding and
other deductions as shall be required of the Company and any Employer under any applicable local, state, or federal law as such laws are interpreted by the
Company.
12.4 Amendment and Termination.
(a) Amendment and Termination with Respect to Grandfathered Benefits. This paragraph applies solely with respect to Grandfathered Benefits. The
Directors have the absolute and unconditional right to amend the portion of the Plan that
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Source: ADVANCED MICRO DEVIC, 10-K, February 26, 2008