AMD 2007 Annual Report Download - page 206
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(3) At the discretion of the Company, provided that all of the following requirements are satisfied:
A. All arrangements sponsored by the Company that would be aggregated with any terminated arrangement under Treasury Regulation
Section 1.409A-1(c), if the same Participant participated in all of the arrangements, are terminated;
B. No payments other than payments that would be payable under the terms of the arrangements if the termination had not occurred are
made within twelve (12) months of the termination of the arrangements;
C. All payments are made within twenty-four (24) months of the termination of the arrangements; and
D. The Company does not adopt a new arrangement that would be aggregated with any terminated arrangement under Treasury
Regulation Section 1.409A-1(c), if the same Participant participated in both arrangements, at any time within five (5) years following
the date of termination of the arrangement.
(4) Such other events and conditions as the Commissioner of Internal Revenue may prescribe in generally applicable guidance published in the
Internal Revenue Bulletin.
12.5 Severability. If any provision of the Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining provisions
hereof; instead, each provision shall be fully severable, and the Plan shall be construed and enforced as if said illegal or invalid provision had never been
included herein.
12.6 Receipt or Release. Any payment to a Participant or Beneficiary in accordance with the provisions of the Plan shall, to the extent thereof, be in full
satisfaction of all claims against the Committee and the Company. The Committee may require such Participant or Beneficiary, as a condition precedent to
such payment, to execute a receipt and release to such effect.
12.7 Governing Laws. All provisions of the Plan shall be construed in accordance with the laws of the State of California except to the extent preempted by
federal law.
- 25-
Source: ADVANCED MICRO DEVIC, 10-K, February 26, 2008