Amgen 2013 Annual Report Download - page 169

6.2 Death Before Commencement of Benefits . Subject to Section 6.3, a Participant shall elect on an Election Form whether any
amounts payable to a Beneficiary under the Plan shall be received by his or her Beneficiary in a lump sum or pursuant to the
Annual Installment Method for up to a ten-year period. Notwithstanding the foregoing, for all Annual Company Contribution
Amounts credited to a Participant with respect to services performed on or after October 16, 2013, any election as to the time
and form of payment previously made by the Participant under the SRP upon the death of a Participant before the
commencement of benefits shall also apply to such Annual Company Contribution 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 upon the death of a Participant before the commencement of
benefits in a lump-sum cash payment. The provisions of the Plan in effect prior to October 16, 2013 with respect to the time
and form of payment upon the death of a Participant before the commencement of benefits 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). Notwithstanding anything herein to the contrary, if the Participant’s aggregate balance under all Account
Balance Plans is $100,000 or less upon his or her death, the Participant’s election to have payments made 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 Beneficiary as a lump sum. If a Participant does not make any election with respect to the payment of his or her
Account Balance, then such Account Balance shall be paid to the Beneficiary in a lump sum. Any lump-sum payment made
pursuant to this Section 6.2 or Section 6.4 shall be made, or installment payments shall commence, within 60 days of the
Participant’s death.
6.3 Death After Commencement of Benefits . If a Participant dies after installment payments have commenced but before his or
her Account Balance is paid in full, the Participant’s remaining installment payments shall continue and shall be paid to the
Participant’s Beneficiary over the remaining number of years and in the same amounts as payments would have been made to
the Participant had the Participant survived.
6.4 Distribution Election Changes. With respect to each distribution election (or deemed election) made pursuant to this Article
6, a Participant may change the form of payment initially designated (or subsequently designated under this Section 6.4),
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
involve completion of all payments not later than the end of the Plan Year that includes the ten-year anniversary of the
Participant’s death, 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.
6.5 Beneficiary. Each Participant shall have the right, at any time, to designate his Beneficiary (both primary and contingent) to
receive any benefits payable under the Plan upon the death of the Participant. The Beneficiary designated under this Plan may be
the same or different from the Beneficiary designation under any other plan of an Employer in which the Participant
participates.
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