Amgen 2013 Annual Report Download - page 168

Amounts (and related earnings) under the Plan (to the extent made for services performed after the election). If a Participant
does not have a previous election in effect under the SRP, any Annual Company Contribution Amount credited to a Participant
with respect to services performed on or after October 16, 2013 (and related earnings) shall be distributed in a lump-sum cash
payment as soon as administratively practicable during the Plan Year immediately following the Plan Year in which such
Separation from Service occurs. The provisions of the Plan in effect prior to October 16, 2013 with respect to the time and
form of payment shall apply with respect to all Annual Company Contribution Amounts credited to a Participant with respect to
services performed prior to October 16, 2013 (and related earnings).
5.2 Installment Payments. In lieu of the lump-sum payment described in Section 5.1, a Participant may elect on an Election Form
to have the designated vested portion of his or her Account Balance paid under the Annual Installment Method following
Separation from Service for up to a ten-year period. Payments under the Annual Installment Method will commence as soon as
administratively practicable during the Plan Year immediately following the Plan Year in which the Participant experiences a
Separation from Service, and will end in the Plan Year specified in the Election Form. However, if the Participant’s aggregate
balance under all Account Balance Plans is $100,000 or less upon his or her Separation from Service, the Participant’s election
to receive payments under the Annual Installment Method shall be disregarded and the portion of the Participant’s Account
Balance that is subject to the election will be paid to the Participant as a lump sum as soon as administratively practicable during
the Plan Year immediately following the Plan Year in which the Participant experiences a Separation from Service.
Notwithstanding the foregoing, for Annual Company Contribution Amounts credited to a Participant with respect to services
performed on or after October 16, 2013 (and related earnings), the time and form of payment of such amounts shall be
governed by Section 5.1.
5.3 Distribution Election Changes. With respect to each distribution election (or deemed election) made pursuant to this Article
5, a Participant may extend the payment date and/or change the form of payment initially designated (or subsequently designated
under this Section 5.3), provided that: (i) the new distribution election shall have no effect until at least 12 months after the date
on which such election is made (e.g., must be made at least 12 months before the Participant’s Separation from Service), (ii) the
payment date must be at least five years after the previously designated payment date and must involve completion of all
payments not later than the end of the Plan Year that includes the twenty-year anniversary of the Participant’s Separation from
Service, and (iii) the election must be made at least 12 months prior to the previously designated payment date. The “previously
designated payment date” in the preceding sentence shall be January 1 of the Plan Year in which the payment was scheduled to
occur (based on the last election in effect), which shall include only the first payment under the Annual Installment Method.
Any election change made hereunder with respect to Annual Company Contribution Amounts credited to a Participant with
respect to services performed on or after October 16, 2013 (and related earnings) may be independent of any election as to the
time and form of payment made by the Participant under the SRP.
ARTICLE 6
Survivor Benefits
6.1 Survivor Benefits. If a Participant dies before his or her Account Balance has been distributed in full, the Participant’s
Beneficiary shall receive a survivor benefit equal to the Participant’s Account Balance, payable in accordance with the following
provisions of this Article 6.
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