AMD » Topics » Replacement Retirement Benefit Arrangement For Dr. Ruiz

This excerpt taken from the AMD DEF 14A filed Mar 18, 2009.

Replacement Retirement Benefit Arrangement For Dr. Ruiz

 

The amount of the retirement benefit payable to Dr. Ruiz as of March 2, 2009 is $4,400,765, calculated as follows: (1) the average of the three highest annual base salaries for the last 10 years of the period beginning April 26, 2002 and ending on the date of retirement (for purposes of this formula, however, annual base salary cannot exceed $1,000,000 annually compounded by three percent from January 1, 2002); (2) that average is then multiplied by the product of four percent and Dr. Ruiz’ number of full years of service with us (not to exceed 10 years of service); (3) the resulting product is then reduced by any other defined benefit plan benefits he will receive (currently, we do not maintain any defined benefit retirement plan), but not for Social Security payments. Dr. Ruiz has elected to have his retirement benefit paid in a single lump sum payment. For further discussion of Dr. Ruiz’ Retirement Benefit, see “Executive Compensation-Employment Agreements,” below.

 

This excerpt taken from the AMD DEF 14A filed Mar 14, 2008.

Replacement Retirement Benefit Arrangement For Dr. Ruiz

 

The amount of the annual retirement benefit for Dr. Ruiz is calculated as follows: (1) the average of the three highest annual base salaries for the last 10 years of the period beginning April 26, 2002 and ending on the date of retirement (for purposes of this formula, however, annual base salary cannot exceed $1,000,000 annually compounded by three percent from January 1, 2002); (2) that average is then multiplied by the product of four percent and Dr. Ruiz’ number of full years of service with us (not to exceed 10 years of service); (3) the resulting product is then reduced by any other defined benefit plan benefits he will receive (currently, we do not maintain any defined benefit retirement plan), but not for Social Security payments. Dr. Ruiz has elected to have his annual retirement benefit paid in a single lump sum payment.

 

This excerpt taken from the AMD DEF 14A filed May 31, 2007.

Replacement Retirement Benefit Arrangement For Dr. Ruiz

 

The following table shows the estimated annual benefits payable upon retirement to Dr. Ruiz under his current employment agreement with us.

 

This excerpt taken from the AMD DEF 14A filed Mar 15, 2007.

Replacement Retirement Benefit Arrangement For Dr. Ruiz

 

The following table shows the estimated annual benefits payable upon retirement to Dr. Ruiz under his current employment agreement with us.

 

This excerpt taken from the AMD DEF 14A filed Mar 23, 2006.

Replacement Retirement Benefit Arrangement for Dr. Ruiz

 

The following table shows the estimated annual benefits payable upon retirement to Dr. Ruiz under his current employment agreement with us.

 

This excerpt taken from the AMD DEF 14A filed Mar 3, 2005.

Replacement Retirement Benefit Arrangement for Dr. Ruiz

 

The following table shows the estimated annual benefits payable upon retirement to Dr. Ruiz under his current employment agreement with us.

 

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