This Retention Payment Agreement (" Agreement" ) is entered into by and between Advanced Micro Devices, Inc. (" Company" ) and Henri Richard (" Employee" ) (collectively, the " Parties" ).
1. Retention Period. Employee agrees that he will not voluntarily terminate his employment with the Company during a three (3) year period beginning August 2, 2005 and ending August 1, 2008 (" Retention Period" ).
2. Retention Payment. The Company agrees to provide Employee a Retention Payment of One Million Dollars ($1,000,000), subject to all required taxes and withholdings (" Retention Payment" ). The Retention Payment will be paid in a single lump sum within 30 days of this Agreement. The Retention Payment shall not be considered to be a bonus or base compensation for purposes of calculating any severance benefits or benefits due to the Employee following a change of control pursuant to the Management Continuity Agreement dated July 7, 2003 between Employee and the Company. 3. Repayment of Retention Payment. Employee agrees to repay to the Company all or a prorated amount of the Retention Payment, according to the following terms:
(a) Repayment Due to Employment Termination. If Employee' s employment with the Company terminates during the Retention Period, Employee agrees to repay the full amount of the Retention Payment less thirty-three point thirty-three percent (33.33%) for each full year of employment completed during the Retention Period. Employee agrees that repayment obligations under this Agreement are not reduced by completion of partial years of employment. Employee agrees that the any repayment due under this section 3(a) must be repaid by no later than the effective date of Employee' s termination, and that any outstanding balance on such repayment obligation is delinquent and immediately collectable the day following the effective date of termination.
(b) Consent to Offset. Employee agrees that any repayment due the Company under this Agreement may be deducted to the extent permitted by law from any amounts due Employee from the Company at time of termination, including wages, accrued vacation pay, incentive compensation payments, bonuses and commissions, and hereby expressly authorizes such deduction(s). (c) Repaymen ...
Advanced Micro Devices, Inc. (AMD; NYSE: AMD) is an American multinational semiconductor company based in Sunnyvale, California, that develops computer processors and related technologies for commercial and consumer markets. Its main products include microprocessors, motherboard chipsets, embedded processors and graphics processors for servers, workstations and personal computers, and processor technologies for handheld devices, digital television, automobiles, game consoles, and other embedded systems applications.
AMD is the second-largest global supplier of microprocessors based on the x86 architecture and also one of the largest supplier of graphics processing units. It also owns 8.6% of Spansion, a supplier of non-volatile flash memory.[2] In 2010, AMD ranked twelfth among semiconductor manufacturers in terms of revenue.
AMD was founded over 40 years ago on the central belief of putting people first. The founders of AMD and our current leaders recognize that our people are our greatest asset and the ultimate source of our competitive advantage. Our company's strength depends on recruiting, nurturing, and retaining the best talent. With a culture formed around the values of respect for people, integrity, and responsibility, we maintain the highest standards of integrity for our workplace. Our goal is to be the employer of choice with a workforce of passionate, innovative, and motivated employees.
Creating an environment for innovation means fostering creativity and experimentation. Innovation happens when people feel free to collaborate, think, act, and solve problems in new and different ways. We live our Corporate Values by embracing diversity, and by encouraging a healthy employee balance of work and family life.
We also support our employees with competitive benefits including excellent compensation, health care, employee assistance programs, and more. We know that nurturing our employees is not only the right thing to do; it is the smart thing to do.
Talent Management
Diversity
Compensation and Benefits
Employee Performance Management
Employee Education and Training
Human Rights
AMD uses a variety of channels to keep employees informed of operational changes. While there is no minimum timeframe for notifying our employees of operational changes, we make every effort to provide employees with a timely notice of significant operational changes. Communications channels include the following:
AMD’s intranet site—which can be accessed by any AMD employee.
Leadership communication—our leaders consistently cascade communications through their organizations.
Special meetings or webcasts—we utilize an open forum for management to engage employees and respond to questions.
Like other companies in our industry, AMD dealt with challenging business conditions for the past two years. The global economic slowdown affected most industries including the semiconductor sector. These poor business conditions and a new business strategy led us to take a series of workforce restructuring activities and staff reductions during 2008 and 2009.
While reducing our workforce is sometimes necessary, we realize the disruption this can cause in the lives of our employees and take action to reduce these impacts. AMD offered eligible employees severance packages in line with industry standards and current regional employment regulations, and made every reasonable effort to reduce the hardships on impacted employees, such as providing continued health care coverage for a prescribed period of time (depending on regional practices) and career transition services.
Talent Management
AMD’s talent management activities support the complex and dynamic nature of our business, but our goal is simple: deliver our strategy by having the right talent in place now and in the future. Throughout the year our CEO and senior executives hold cross-functional discussions about our top talent and the leadership and technology skills our business requires. When skill gaps are identified, we turn first toward developing our top talent because we know that building their skills ensures our future. Professional growth increases the likelihood that our top performers will stay at AMD and when they continuously build their breadth and depth of knowledge, AMD becomes more productive and innovative. When we cannot fill a gap internally, we recruit employees with varied experiences and backgrounds who add new perspectives to existing teams. Whenever possible, we hire local talent. We continuously track and prioritize our progress based on evolving business needs.
Diversity
Just as AMD's technology represents an ideal combination of different design principles, AMD's workforce is comprised of minds drawn from all over the world. Honoring our employees as individuals is the cornerstone of our culture.
We believe that diversity and cultural differences are qualities that enhance creativity and innovation. AMD is fully committed to equal opportunity and the value of cultural diversity within our workforce. At AMD, we value respect, integrity, initiative, accountability, and innovation in support of our customers’ success.
Based on these values, we know that:
Business success is created when we recruit and develop the most talented people and reward them for their contributions.
Our customers are best served by a team of employees who have a variety of perspectives.
Innovation comes from different experiences and ideas.
In compliance with applicable laws and regulations, employee policies, processes, and decisions are created and implemented to promote equal opportunity without regard to age, ancestry, color, marital status, medical condition, mental or physical disability, national origin, race, religion, political and/or third party affiliation, sex, sexual orientation, gender identity, or veteran status. AMD has a robust process to fully investigate and address all complaints regarding workplace discrimination, and offers its employees a variety of communication channels (including the AMD Alertline, a toll-free, 24-hour hotline that accepts anonymous reports).
View our Employee Data.
Compensation & Benefits
The nature of the semiconductor industry requires that the company maintain a talent pipeline by attracting and retaining a well-trained, highly-skilled, and highly educated workforce. To remain competitive, AMD constantly monitors the wage structure of the semiconductor and related technology industries at operating locations. AMD is committed to paying competitive wages and providing benefits that help foster employee health and financial security. Employee compensation is established in accordance with local laws and often adjusted for talent in high demand.
Eligible employees worldwide share in the company's success through a range of compensation programs. Global compensation programs include equity and bonus plans.
The company's competitive portfolio of employee benefits includes country-specific program offerings such as comprehensive coverage for health and dental care, retirement savings programs in which investments are directed by the employee and partially matched by the company, holiday and vacation time, life and disability insurance, and a variety of work/life balance programs including family care leave, sick childcare assistance, and alternative work plans. Our employee benefits programs meet and often exceed that which is required by law.
AMD also promotes a learning environment through educational programs such as tuition assistance and numerous internal employee and management development classes. AMD's employees also benefit from various types of employee assistance programs to help resolve personal and professional issues.
Employee Performance Management
AMD's global performance management process creates a work environment that encourages and supports high-performance individuals and teams. Through the performance management process, we align individual employee’s goals with that of their manager and the overall organization, ensuring we are all working toward the same end. We communicate desired results to our employees, monitor progress, provide feedback, and reward results. This transparent process continuously improves organizational performance and increases employee engagement by raising performance standards through clear expectations, feedback, and a focus on employee development. In 2009, more than 95 percent of our employees received performance reviews, all of which include an open, two-way discussion between the employee and their manager.
Employee Education & Training
Attracting and retaining a highly skilled and motivated workforce is critical to AMD's success. Providing opportunities for personal and professional development enhances our workforce as well as the company's appeal in the competition for experienced workers and retention of valuable employees. As part of a total performance management system, AMD is committed to employee development programs. The AMD Competency Model, centered on the enduring AMD values, is the foundation for all education and training.
AMD provides a wide array of technical, management, and leadership training programs for employees to enhance their knowledge and further contribute to the company's success. Learning and development initiatives are linked to specific business strategies and goals. Employees also have access to a variety of e learning opportunities through internally and externally developed courses, including:
Skillsoft®, the largest e-learning vendor in the world offering over 1,400 Business Skills e learning courses, and hundreds of executive book summaries
Harvard Business School Publishing®, offering online leadership and management training as well as access to a growing library of thousands of book summaries via “getAbstract”
GlobeSmart®, a Web-based tool that provides easy access to an extensive knowledge base on how to conduct business effectively with people from other countries
The company provides a variety of programs for employee enrichment and development including:
Executive Assessment to determine knowledge and skills development needed for VP and above
Executive Coaching to build on strengths and address development needs and specific organizational issues
Mentoring to enhance the development of new or less-experienced employees
New Employee Development to educate new employees about legal, safety and environmental policies, and company products and markets
Management/leadership development is provided through the AMD Leadership Pipeline programs and processes:
License to Lead (L2L) or Stepping Up to Management for newly promoted managers
Experienced Manager Academy (EMA) for top talent experienced managers
Directors Leadership Academy (DLA) to enhance the leadership skills and business acumen of all directors at AMD
MTS Leadership Program (MTS) to help AMD technical professionals increase their effectiveness as technical leaders and provide the core skills necessary for their position
Identification of AMD’s “top talent” and offering focused personal development
Since 2001, over 1700 employees have participated in at least one of the above programs. Three DLAs, two EMA, and two MTS programs will be offered in 2010. Additionally, we will be offering EMA and MTS programs in China later in the year.
Human Rights
AMD’s labor practices and policies are intended to attract, motivate, and retain top talent in the highly competitive semiconductor industry. To this end, our policies are focused on making AMD the employer of choice. Our position on key human rights issues such as harassment, discrimination, working hours, forced/compulsory labor, child labor, compensation, and freedom of association are addressed in AMD's Worldwide Standards of Business Conduct (WWSBC).
The WWSBC apply to all AMD employees—all employees receive a copy of and all are training on these standards. AMD's WWSBC are aligned with the Electronics Industry Citizenship Coalition (EICC) Code of Conduct and the Institute of Supply Management's Principles for Social Responsibility. Our hiring practices are periodically reviewed to ensure conformance with local laws and AMD’s WWSBC.
We believe that open communication and direct engagement between workers and management are some of the most effective ways to resolve workplace issues. We support open communication through a variety of meetings between employees and management and through an open-door policy, without fear of reprisal, intimidation, or harassment
1. Retention Period. Employee agrees that he will not voluntarily terminate his employment with the Company during a three (3) year period beginning August 2, 2005 and ending August 1, 2008 (" Retention Period" ).
2. Retention Payment. The Company agrees to provide Employee a Retention Payment of One Million Dollars ($1,000,000), subject to all required taxes and withholdings (" Retention Payment" ). The Retention Payment will be paid in a single lump sum within 30 days of this Agreement. The Retention Payment shall not be considered to be a bonus or base compensation for purposes of calculating any severance benefits or benefits due to the Employee following a change of control pursuant to the Management Continuity Agreement dated July 7, 2003 between Employee and the Company. 3. Repayment of Retention Payment. Employee agrees to repay to the Company all or a prorated amount of the Retention Payment, according to the following terms:
(a) Repayment Due to Employment Termination. If Employee' s employment with the Company terminates during the Retention Period, Employee agrees to repay the full amount of the Retention Payment less thirty-three point thirty-three percent (33.33%) for each full year of employment completed during the Retention Period. Employee agrees that repayment obligations under this Agreement are not reduced by completion of partial years of employment. Employee agrees that the any repayment due under this section 3(a) must be repaid by no later than the effective date of Employee' s termination, and that any outstanding balance on such repayment obligation is delinquent and immediately collectable the day following the effective date of termination.
(b) Consent to Offset. Employee agrees that any repayment due the Company under this Agreement may be deducted to the extent permitted by law from any amounts due Employee from the Company at time of termination, including wages, accrued vacation pay, incentive compensation payments, bonuses and commissions, and hereby expressly authorizes such deduction(s). (c) Repaymen ...
Advanced Micro Devices, Inc. (AMD; NYSE: AMD) is an American multinational semiconductor company based in Sunnyvale, California, that develops computer processors and related technologies for commercial and consumer markets. Its main products include microprocessors, motherboard chipsets, embedded processors and graphics processors for servers, workstations and personal computers, and processor technologies for handheld devices, digital television, automobiles, game consoles, and other embedded systems applications.
AMD is the second-largest global supplier of microprocessors based on the x86 architecture and also one of the largest supplier of graphics processing units. It also owns 8.6% of Spansion, a supplier of non-volatile flash memory.[2] In 2010, AMD ranked twelfth among semiconductor manufacturers in terms of revenue.
AMD was founded over 40 years ago on the central belief of putting people first. The founders of AMD and our current leaders recognize that our people are our greatest asset and the ultimate source of our competitive advantage. Our company's strength depends on recruiting, nurturing, and retaining the best talent. With a culture formed around the values of respect for people, integrity, and responsibility, we maintain the highest standards of integrity for our workplace. Our goal is to be the employer of choice with a workforce of passionate, innovative, and motivated employees.
Creating an environment for innovation means fostering creativity and experimentation. Innovation happens when people feel free to collaborate, think, act, and solve problems in new and different ways. We live our Corporate Values by embracing diversity, and by encouraging a healthy employee balance of work and family life.
We also support our employees with competitive benefits including excellent compensation, health care, employee assistance programs, and more. We know that nurturing our employees is not only the right thing to do; it is the smart thing to do.
Talent Management
Diversity
Compensation and Benefits
Employee Performance Management
Employee Education and Training
Human Rights
AMD uses a variety of channels to keep employees informed of operational changes. While there is no minimum timeframe for notifying our employees of operational changes, we make every effort to provide employees with a timely notice of significant operational changes. Communications channels include the following:
AMD’s intranet site—which can be accessed by any AMD employee.
Leadership communication—our leaders consistently cascade communications through their organizations.
Special meetings or webcasts—we utilize an open forum for management to engage employees and respond to questions.
Like other companies in our industry, AMD dealt with challenging business conditions for the past two years. The global economic slowdown affected most industries including the semiconductor sector. These poor business conditions and a new business strategy led us to take a series of workforce restructuring activities and staff reductions during 2008 and 2009.
While reducing our workforce is sometimes necessary, we realize the disruption this can cause in the lives of our employees and take action to reduce these impacts. AMD offered eligible employees severance packages in line with industry standards and current regional employment regulations, and made every reasonable effort to reduce the hardships on impacted employees, such as providing continued health care coverage for a prescribed period of time (depending on regional practices) and career transition services.
Talent Management
AMD’s talent management activities support the complex and dynamic nature of our business, but our goal is simple: deliver our strategy by having the right talent in place now and in the future. Throughout the year our CEO and senior executives hold cross-functional discussions about our top talent and the leadership and technology skills our business requires. When skill gaps are identified, we turn first toward developing our top talent because we know that building their skills ensures our future. Professional growth increases the likelihood that our top performers will stay at AMD and when they continuously build their breadth and depth of knowledge, AMD becomes more productive and innovative. When we cannot fill a gap internally, we recruit employees with varied experiences and backgrounds who add new perspectives to existing teams. Whenever possible, we hire local talent. We continuously track and prioritize our progress based on evolving business needs.
Diversity
Just as AMD's technology represents an ideal combination of different design principles, AMD's workforce is comprised of minds drawn from all over the world. Honoring our employees as individuals is the cornerstone of our culture.
We believe that diversity and cultural differences are qualities that enhance creativity and innovation. AMD is fully committed to equal opportunity and the value of cultural diversity within our workforce. At AMD, we value respect, integrity, initiative, accountability, and innovation in support of our customers’ success.
Based on these values, we know that:
Business success is created when we recruit and develop the most talented people and reward them for their contributions.
Our customers are best served by a team of employees who have a variety of perspectives.
Innovation comes from different experiences and ideas.
In compliance with applicable laws and regulations, employee policies, processes, and decisions are created and implemented to promote equal opportunity without regard to age, ancestry, color, marital status, medical condition, mental or physical disability, national origin, race, religion, political and/or third party affiliation, sex, sexual orientation, gender identity, or veteran status. AMD has a robust process to fully investigate and address all complaints regarding workplace discrimination, and offers its employees a variety of communication channels (including the AMD Alertline, a toll-free, 24-hour hotline that accepts anonymous reports).
View our Employee Data.
Compensation & Benefits
The nature of the semiconductor industry requires that the company maintain a talent pipeline by attracting and retaining a well-trained, highly-skilled, and highly educated workforce. To remain competitive, AMD constantly monitors the wage structure of the semiconductor and related technology industries at operating locations. AMD is committed to paying competitive wages and providing benefits that help foster employee health and financial security. Employee compensation is established in accordance with local laws and often adjusted for talent in high demand.
Eligible employees worldwide share in the company's success through a range of compensation programs. Global compensation programs include equity and bonus plans.
The company's competitive portfolio of employee benefits includes country-specific program offerings such as comprehensive coverage for health and dental care, retirement savings programs in which investments are directed by the employee and partially matched by the company, holiday and vacation time, life and disability insurance, and a variety of work/life balance programs including family care leave, sick childcare assistance, and alternative work plans. Our employee benefits programs meet and often exceed that which is required by law.
AMD also promotes a learning environment through educational programs such as tuition assistance and numerous internal employee and management development classes. AMD's employees also benefit from various types of employee assistance programs to help resolve personal and professional issues.
Employee Performance Management
AMD's global performance management process creates a work environment that encourages and supports high-performance individuals and teams. Through the performance management process, we align individual employee’s goals with that of their manager and the overall organization, ensuring we are all working toward the same end. We communicate desired results to our employees, monitor progress, provide feedback, and reward results. This transparent process continuously improves organizational performance and increases employee engagement by raising performance standards through clear expectations, feedback, and a focus on employee development. In 2009, more than 95 percent of our employees received performance reviews, all of which include an open, two-way discussion between the employee and their manager.
Employee Education & Training
Attracting and retaining a highly skilled and motivated workforce is critical to AMD's success. Providing opportunities for personal and professional development enhances our workforce as well as the company's appeal in the competition for experienced workers and retention of valuable employees. As part of a total performance management system, AMD is committed to employee development programs. The AMD Competency Model, centered on the enduring AMD values, is the foundation for all education and training.
AMD provides a wide array of technical, management, and leadership training programs for employees to enhance their knowledge and further contribute to the company's success. Learning and development initiatives are linked to specific business strategies and goals. Employees also have access to a variety of e learning opportunities through internally and externally developed courses, including:
Skillsoft®, the largest e-learning vendor in the world offering over 1,400 Business Skills e learning courses, and hundreds of executive book summaries
Harvard Business School Publishing®, offering online leadership and management training as well as access to a growing library of thousands of book summaries via “getAbstract”
GlobeSmart®, a Web-based tool that provides easy access to an extensive knowledge base on how to conduct business effectively with people from other countries
The company provides a variety of programs for employee enrichment and development including:
Executive Assessment to determine knowledge and skills development needed for VP and above
Executive Coaching to build on strengths and address development needs and specific organizational issues
Mentoring to enhance the development of new or less-experienced employees
New Employee Development to educate new employees about legal, safety and environmental policies, and company products and markets
Management/leadership development is provided through the AMD Leadership Pipeline programs and processes:
License to Lead (L2L) or Stepping Up to Management for newly promoted managers
Experienced Manager Academy (EMA) for top talent experienced managers
Directors Leadership Academy (DLA) to enhance the leadership skills and business acumen of all directors at AMD
MTS Leadership Program (MTS) to help AMD technical professionals increase their effectiveness as technical leaders and provide the core skills necessary for their position
Identification of AMD’s “top talent” and offering focused personal development
Since 2001, over 1700 employees have participated in at least one of the above programs. Three DLAs, two EMA, and two MTS programs will be offered in 2010. Additionally, we will be offering EMA and MTS programs in China later in the year.
Human Rights
AMD’s labor practices and policies are intended to attract, motivate, and retain top talent in the highly competitive semiconductor industry. To this end, our policies are focused on making AMD the employer of choice. Our position on key human rights issues such as harassment, discrimination, working hours, forced/compulsory labor, child labor, compensation, and freedom of association are addressed in AMD's Worldwide Standards of Business Conduct (WWSBC).
The WWSBC apply to all AMD employees—all employees receive a copy of and all are training on these standards. AMD's WWSBC are aligned with the Electronics Industry Citizenship Coalition (EICC) Code of Conduct and the Institute of Supply Management's Principles for Social Responsibility. Our hiring practices are periodically reviewed to ensure conformance with local laws and AMD’s WWSBC.
We believe that open communication and direct engagement between workers and management are some of the most effective ways to resolve workplace issues. We support open communication through a variety of meetings between employees and management and through an open-door policy, without fear of reprisal, intimidation, or harassment
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