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Quotes & Info
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| AMD > SEC Filings for AMD > Form 8-K on 20-Nov-2009 | All Recent SEC Filings |
20-Nov-2009
Change in Directors or Principal Officers
As previously reported, on January 16, 2009, the Compensation Committee (the
"Compensation Committee") of the Board of Directors of Advanced Micro Devices,
Inc. (the "Company") approved across-the-board reductions to annual base
salaries, including the annual base salaries of all named executive officers,
effective as of February 1, 2009. Effective November 16, 2009, the Compensation
Committee approved the reversal of these reductions commencing on November 23,
2009. As a result, the reinstated annual base salaries of the named executive
officers will be the following: (i) Mr. Derrick Meyer, the Company's President
and Chief Executive Officer, reinstated from $720,000 to $900,000;
(ii) Mr. Robert Rivet, the Company's Executive Vice President, Chief Operations
and Administrative Officer, reinstated from $552,500 to $650,000; and
(iii) Mr. Thomas McCoy, the Company's Executive Vice President, Legal, Corporate
and Public Affairs, reinstated from $462,400 to $544,000. Because annual bonus
targets are a percentage of annual base salary, the across-the-board increases,
in effect, would also increase fiscal 2009 annual bonus payments, if any.
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