amgen 401(k) - 2017 spd finalamgenbenefits.com/documents/amgen 401(k) - 2017 spd final.pdf · amgen...

RETIREMENT AND SAVINGS PLAN SUMMARY PLAN DESCRIPTION

AMGEN

January 1, 2017

THIS DOCUMENT CONSTITUTES PART OF THE PROSPECTUS

COVERING SECURITIES THAT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933

The information contained herein has been provided by Amgen Inc. and is solely the responsibility of Amgen Inc.

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Table of Contents

Introduction .................................................................................................................................... 1

Glossary ......................................................................................................................................... 2

Eligibility and Participation ........................................................................................................... 7

Contributions.................................................................................................................................. 9

Valuation of Plan Account ........................................................................................................... 18

Payment of Benefits ..................................................................................................................... 19

Loans and Withdrawals................................................................................................................ 22

Plan Administration and Investments .......................................................................................... 26

Telephone and Internet Procedures .............................................................................................. 38

Miscellaneous Provisions............................................................................................................. 39

Federal Tax Consequences .......................................................................................................... 41

Section 16 Reporting Persons ...................................................................................................... 49

Additional Plan Information ........................................................................................................ 50

Important Notice of Participants’ Rights ..................................................................................... 52

Introduction

This Summary Plan Description (“SPD”) explains the basic provisions of the Amgen Retirement and Savings Plan (the “Plan”), as restated effective January 1, 2017, and as subsequently amended from time to time. The terms used in this introduction are defined below.

If you are an eligible employee of a Participating Company, the Plan allows you to accumulate funds for retirement or disability by electing to have contributions made on your behalf to the Plan through “before-tax” and/or “after-tax” payroll deductions. Amounts you elect to have withheld from your pay before-tax or deducted from your pay after-tax will be contributed as Participant Elected Contributions and credited to the appropriate account for you under the Plan. You may have one or more “sub-accounts” under the Plan. For purposes of this SPD, your sub-accounts may generally be referred to as one account (defined as your Plan Account). Your Participant Elected Contributions are invested at your direction in one or more of the different Investment Options that are available under the Plan from time to time.

The Plan also provides that a Participating Company shall make Company Contributions to your Plan Account. Any Company Contributions made by a Participating Company on your behalf will be allocated to your Plan Account in accordance with the Plan provisions, as described in this SPD. These Company Contributions also will be invested at your direction among the available Investment Options, and your Plan Account will share in the gains and losses of such Investment Options.

Your Participant Elected Contributions, Company Contributions and Rollover Contributions are 100% vested at all times and may be payable to you or your Beneficiary in full (plus investment earnings and net of investment losses) upon your retirement or termination of your employment with the Company or upon your disability or death. You may also withdraw your Employee and Company Contributions after you reach age 59½, even if you are still employed with a Participating Company. Under limited circumstances of financial hardship, a portion of your Participant Elected Contributions and Rollover Contributions may be available for withdrawal by you while you are still employed by the Company.

All contributions to the Plan will be deposited and held by the Trustee of the Plan in a Trust Fund. All Plan benefits are paid solely from the Trust Fund.

This SPD includes summaries and explanations of certain provisions of the Plan. This information does not purport to be complete and is qualified in its entirety by reference to the provisions of the Plan. The complete terms of the Plan are set forth in the Plan document, which will be provided to you at your request. In the event of any difference between this SPD and the provisions of the Plan, the Plan will govern. If you have any questions about the Plan, please contact Merrill Lynch at 1-800-97-AMGEN.

Please note that your participation in the Plan is not a guarantee of continued employment with Amgen or any Participating Company. Amgen has the right to amend or terminate the Plan at any time in its sole discretion.

Glossary

The following terms are used in this SPD:

After-tax Elected Contribution - refers to a contribution made by a Participant to his or her Plan Account pursuant to an election to reduce his or her Deferral Compensation on an after-tax basis.

Amgen - refers to Amgen Inc.

Amgen Common Stock - refers to the common stock of Amgen Inc., $.0001 par value.

Amgen Companies - refers to Amgen Inc. and its subsidiaries.

Asset Classes - refers to the broad categories of investment options selected by the Fiduciary Committee to be made available to Participants as Investment Options under the Plan, each offering a different potential rate of return and associated level of risk.

Beneficiary - refers to the person(s), estate(s) or trust(s) designated by a Participant, pursuant to procedures established by the Plan administrator, to receive a distribution of benefits from the Plan in the event of the Participant’s death.

Board or Board of Directors - refers to the Board of Directors of Amgen Inc., as constituted from time to time.

Catch-up Contributions - refers to additional Pre-Tax Elected Contributions or Roth Elective Contributions, subject to annual limitations, made by a Participant who has reached age 50 or more during the calendar year. See Question 18.

Code - refers to the Internal Revenue Code of 1986, as amended.

Company - refers to Amgen Inc.

Company Contributions - refers to Core Contributions and Matching Contributions.

Core Compensation - except as provided below, for purposes of allocating Core Contributions, refers to an Eligible Employee’s wages, salaries, fees for professional services, and other amounts received (without regard to whether or not paid in cash) for personal services actually rendered in the course of employment with a Participating Company that are includible in gross income (including, but not limited to, commissions paid to salespersons, compensation for services on the basis of a percentage of profits, commissions on insurance premiums, and bonuses). Core Compensation shall also include any elective deferrals made by an Eligible Employee to the Plan and salary deductions made under any cafeteria plan or qualified transportation fringe benefit program. Core Compensation shall not include the following items and items similar to the following: any payments made after an Eligible Employee terminates employment with a Participating Company or any contributions to or benefits from any deferred compensation plan; amounts relating to stock related compensation; amounts received through accident or health insurance for personal injuries or sickness; amounts paid or reimbursed by a Participating

Company (or an affiliate) for non-deductible moving expenses; fringe benefits (whether cash or non-cash, even if includible in gross income); reimbursements or other expense allowances (even if includible in gross income); moving expenses (even if includible in gross income); welfare benefits (even if includible in gross income); severance pay; and expatriate tax equalization payments, expatriate foreign allowances and expatriate goods and service allowances to Highly Compensated Employees.

In addition, an Eligible Employee who is in qualified military service shall be treated as receiving compensation from the Participating Company during such period of qualified military service equal to: (a) the compensation the Eligible Employee would have received during such period if the Eligible Employee were not in qualified military service, determined based on the rate of pay the Eligible Employee would have received from the Participating Company but for absence during the period of qualified military service; or (b) if the compensation the Eligible Employee would have received during such period was not reasonably certain, the Eligible Employee’s average compensation from the Participating Company during the 12-month period immediately preceding the qualified military service (or, if shorter, the period of employment immediately preceding the qualified military service).

Core Compensation also excludes amounts that exceed the includable compensation limit for the calendar year as defined by the Code, which is $270,000 for 2017.

The above definition of Core Compensation is only a summary and does not purport to be complete explanation of that term as defined in the Plan document (which will be provided to you at your request). In the event of any difference between this definition and the provisions of the Plan, the Plan will govern.

Core Contributions - refers to contributions made by a Participating Company on a pre-tax basis to the Plan Accounts of Eligible Employees equal to 5% of Core Compensation made for each payroll period.

Custodian - refers to Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) with respect to Self-Direct Brokerage assets and the Amgen Common Stock fund, and the Northern Trust Company, NA with respect to the Asset Class assets.

Deferral Compensation - for purposes of determining Participant Elected Contributions and Matching Contributions, refers to an Eligible Employee’s Core Compensation reduced by: any payments of bonuses, including but not limited to, sign-on bonuses, retention bonuses, spot bonuses, prizes, trips and awards, except bonuses paid under the Company’s annual bonus plan, (including the Executive Incentive Plan, the Global Management Incentive Plan, and the Value Enhancement Program) which is included in Deferral Compensation; any additional compensation provided to an expatriate staff member by reason of the staff member’s expatriate assignment, including “good and services allowances,” tax equalization payments, housing and car allowances, and tax gross-ups thereon; any tax gross up payments; and any items excludable as compensation within the meaning of Section 415(c)(3) of the Code and corresponding regulations. Deferral Compensation also excludes amounts received after termination and amounts that exceed the includable compensation limit for the calendar year as defined by the Code, which is $270,000 for 2017.

Eligible Employee – refers to an employee of a Participating Company who is eligible to participate in the Plan, as set forth in Question 1.

Eligible Rollover Distribution - refers to a rollover of your Plan Account into any qualified IRA or other qualified employer retirement plan.

Exchange Act - refers to the Securities Exchange Act of 1934, as amended.

ERISA - refers to the Employee Retirement Income Security Act of 1974, as amended.

Fiduciary Committee - refers to the committee appointed for purposes of performing certain functions with respect to investments under the Plan.

Highly Compensated Employee - generally, refers to an individual who: (a) earned more than $120,000 in the prior calendar year (which dollar figure will be indexed by the IRS) and was in the top 20 percent (in terms of compensation) of all employees of Participating Companies and its controlled group members; or (b) was a 5% owner in the current or prior calendar year.

Insider Trading Policy - the Company’s Insider Trading Policy (Global Corporate Compliance Policy No. 042580), or any updates to such policy

Investment Options - refers to the investment options available for investment of Participant’s Plan Accounts and includes the Asset Classes, the Amgen Common Stock fund and the Self-Direct Brokerage.

IRA - refers to an individual retirement account or individual retirement annuity.

IRS - refers to the U.S. Internal Revenue Service.

Matching Contributions - refers to the contributions made by a Participating Company on a pre-tax basis that is allocated to the Plan Accounts of Participants in the Plan based on the amount of their Pre-tax Elected Contributions and Roth Elective Contributions. The Matching Contributions percentage is currently 100% of the first 5% of your Deferral Compensation that you save per pay period as Pre-Tax Elected Contributions and Roth Elective Contributions. For more information, see Question 16.

Participant - is an Eligible Employee, or a former Eligible Employee, who has a Plan Account balance under the Plan.

Participant Elected Contributions - refers to Pre-tax Elected Contributions, Roth Elective Contributions, and After-tax Elected Contributions.

Participating Company - refers to Amgen and the following members of Amgen’s affiliated group (including the legal successor to any of the entities) which Amgen has designated in writing:

Amgen Inc. Amgen USA Inc.

Amgen Worldwide Services, Inc. Immunex Corporation Immunex Manufacturing Corporation Immunex Rhode Island Corporation Amgen SF, LLC BioVex, Inc. Amgen Rockville, Inc. (formerly Micromet, Inc.) KAI Pharmaceuticals, Inc. Onyx Pharmaceuticals, Inc.

Plan - refers to the Amgen Retirement and Savings Plan, as amended and restated effective January 1, 2017, and as subsequently amended from time to time.

Plan Account - refers to the account to which all contributions (and related earnings) made by an Eligible Employee (including Rollover Contributions) and Participating Companies are allocated in accordance with the Plan. The Company may establish separate sub-accounts to reflect the various types of contributions (and related earnings) made on behalf of an Eligible Employee under the Plan.

Plan Year - is the calendar year.

Pre-tax Elected Contributions - refers to contributions made by a Participant to his or her Plan Account pursuant to an election to reduce his or her Deferral Compensation on a pre-tax basis. Pre-tax Elected Contributions include any Catch-up Contributions made on a pre-tax basis.

Qualified Domestic Relations Order (“QDRO”) - refers to a qualified domestic relations order as that term is defined by the Code and ERISA.

Qualified Distribution of Roth Elective Contributions (also “Qualified Distribution”) - refers to a distribution which consists of amounts attributable to Roth Elective Contributions that is made after a Participant has had a 5-taxable year period of participation in the Plan and the distribution –

is made on or after the date the Participant attains age 59½,

is made after the Participant’s death, or

is attributable to the Participant being disabled while an employee. Under the Plan, a Participant is disabled based on a determination of disability by the Social Security Administration.

For this purpose, a 5-taxable-year period of participation is the period of five consecutive years, which begins January 1 of the first year in which you designate any amount as a Roth Elective Contribution. However, if the Plan receives a direct rollover on your behalf of amounts attributable to Roth Elective Contributions from another qualified plan, then your 5-taxable-year period of participation in this Plan is the period of five consecutive years, which begins with the earlier of (a) the first year in which you designated any amount as a Roth Elective Contribution under this

Plan or (b) the first year in which you designated any amount as a similar after-tax Roth contribution under the distributing plan.

A Qualified Distribution of Roth Elective Contributions is not includible in your gross income for income tax purposes. Other withholding rules still apply. If you receive a distribution of amounts attributable to Roth Elective Contributions before you reach age 59½, the taxable portion (if any – See Question 55) of the distribution may be subject to the 10% early payment penalty described in Question 53 of this SPD.

Roth Elective Contributions - refers to contributions made by a Participant to his or her Plan Account pursuant to an election to reduce his or her Deferral Compensation, but made on an after-tax basis. Roth Elective Contributions include any Catch-up Contributions designated as Roth Elective Contributions and made on an after-tax basis.

Required Beginning Date - for a Participant (other than a Participant who has a 5% ownership interest in the Company) is April 1 of the calendar year following the later of either: (a) the year in which the employee attains age 70½; or (b) the year in which the employee retires.

Rollover Contribution - refers to a voluntary contribution made by an Eligible Employee to the Plan of amounts received as a qualified distribution from another qualified retirement plan or from an IRA subject to certain restrictions. See Question 20.

Self-Direct Brokerage - refers to a service that gives Participants access to publicly traded stocks (excluding Amgen Common Stock), a wide range of mutual funds, and fixed-income investments (excluding Amgen securities), in addition to the Plan’s investment lineup.

Trustee - refers to Bank of America, N.A. for purposes of the Self-Direct Brokerage assets and the Amgen Common Stock fund, and the Northern Trust Company, NA for purposes of the Asset Class assets, or such other Trustee as may from time to time be appointed by the Company.

Trust Fund - refers to the trust in which all contributions to the Plan (increased by any investment gains and reduced by any investment losses) are held pursuant to the Plan and the Trust Agreement.

Eligibility and Participation

1. Am I eligible to participate in the Plan?

All domestic, regular employees who are employed full-time or part-time by a Participating Company (“regular full-time employees” or “regular part-time employees”) are eligible to participate, except as described below. Employees who are eligible to participate in the Plan are referred to as “Eligible Employees”.

Employees and other individuals in any of the following categories are not eligible to participate in the Plan (“excluded individual”):

employees covered by a collective bargaining agreement to which the a Participating Company is a party and which does not provide for participation in the Plan,

individuals not on the payroll of a Participating Company, even though such person may be deemed, for any reason, to be an employee,

employees of a non-U.S. subsidiary of Amgen,

individuals subject to an oral or written agreement that provides that such individual shall not be eligible to participate in the Plan,

“leased employees” (as defined in the Code),

persons or entities (including temporary employees, independent contractors or consultants) for whom a Participating Company does not withhold federal income and employment taxes from such persons’ or entities’ compensation, or

employees classified as interns or co-ops on a Participating Company’s payroll.

If, during any period, a Participating Company has not regarded an individual as an employee and, for that reason, has not withheld employment taxes with respect to that individual, then that individual shall not be an Eligible Employee for that period, even in the event that the individual is determined, retroactively, to have been an employee during all or any portion of that period.

2. When can I start participating in the Plan?

There is no waiting period under the Plan. If you have met the eligibility requirements described in Question 1 (i.e., you are an Eligible Employee), you will first be eligible to participate in the Plan:

as of your date of hire, or

as soon as administratively practicable after you are reclassified as an Eligible Employee.

3. What happens if I am rehired after termination of my employment?

If you were previously an Eligible Employee employed by a Participating Company and you are rehired as an Eligible Employee, you will be eligible to participate on the date of your reemployment (see Question 1).

4. Can my participation in the Plan be suspended or terminated?

Yes. Your active participation will be suspended and you will not be eligible to make Participant Elected Contributions or receive Company Contributions:

if you do not receive or are not entitled to receive any Core Compensation (for example, if you are on an unpaid leave of absence), or

if you cease to be an Eligible Employee under the Plan because you have become an excluded individual (see Question 1).

If your active participation is suspended for any of the reasons described above, you will continue as an inactive Participant during the period of suspension as long as you continue to have a balance in your Plan Account. Your status as a Participant will terminate completely when you have received a distribution of your entire Plan Account or in the event of your death.

In addition, your active participation will be suspended and you will not be eligible to make Participant Elected Contributions or receive Matching Contributions for 6 months if you take a hardship withdrawal (see Question 31). However, you will be eligible to receive Core Contributions during this time. Age 59½ and disability withdrawals do not constitute hardship withdrawals and shall not result in suspension of your eligibility to make Participant Elected Contributions or to receive Company Contributions.

Once the suspension period has ended, you must contact Merrill Lynch to re-start your Participant Elected Contributions.

Contributions

5. What is the difference between Pre-tax Elected Contributions and Roth Elective Contributions?

The Plan accepts after-tax Roth Elective Contributions. Both Pre-tax Elected Contributions and Roth Elective Contributions are “Participant Elected Contributions” because you contribute the money from your paycheck. Both contributions are deducted from your paycheck and placed into your Plan Account where the amounts contributed are invested in the Investment Options that you select. The primary difference between the two is the timing of when the contributions are taxed. While Pre-tax Elected Contributions are made on a pre-tax basis and reduce your taxable gross pay, Roth Elective Contributions are made on an after-tax basis. Accordingly, Roth Elective Contributions are deducted after taxes have been withheld, thus reducing your net pay but not your gross pay. Distributions from your Roth Elective Contributions account, including all earnings, are not subject to tax if certain requirements (see Question 55) are met. Another difference you should know about is that you may not access your Roth Elective Contributions for loans or on account of hardship. If you have any questions regarding your contribution options, please call Merrill Lynch at 1-800-97-AMGEN.

6. What is the difference between Pre-tax Elected Contributions and After-tax Elected Contributions?

The Plan accepts After-tax Elected Contributions. Both Pre-tax Elected Contributions and After-tax Elected Contributions are “Participant Elected Contributions” because you contribute the money from your paycheck. Both contributions are deducted from your paycheck and placed into your Plan Account where the amounts contributed are invested in the Investment Options that you select. The primary difference is when the contributions are taxed. While traditional Pre-tax Elected Contributions are made pre-tax and reduce your taxable gross pay, After-tax Elected Contributions are made on an after-tax basis (similar to Roth Elective Contributions as described in Question 5). After-tax Elected Contributions are deducted after taxes have been withheld, thus reducing your net pay but not your gross pay. Distributions of your contributions from your After-tax Elected Contributions account are not subject to tax, but all earnings on those contributions are taxable. You may not access your After-tax Elected Contributions for hardship withdrawals. (See Question 31 for additional detail on hardship withdrawals).

7. What is the difference between Roth Elective Contributions and After-tax Elected Contributions?

As explained in Questions 5 and 6, both Roth Elective Contributions and After-tax Elected Contributions are “Participant Elected Contributions” made on an after-tax basis, thus reducing your net pay but not your gross pay. The principal difference is how the contributions are taxed when distributed. Distributions from your Roth Elective account, including all earnings, are not subject to tax if certain requirements (see Question 55) are met. Distributions of your contributions from your After-tax Elected Contributions account are not subject to tax, but the distributed earnings in the account are taxable. Another difference you should know about is that you may not access your Roth Elective Contributions for loans but you can access your After-tax Elected

Contributions for this purpose. Also, After-tax Elected Contributions are not subject to the limits on elective deferrals ($18,000 for 2017) as described in Question 17 and instead are subject to a separate limit ($9,000 for 2017). Catch-up Contributions also cannot be made to your After-tax Elected Contributions account. You should also note that After-Tax Contributions are not eligible for Company Matching Contributions. See Question 14.

8. How do I make Pre-tax Elected Contributions?

If you are a newly hired Eligible Employee, the Company will automatically enroll you in the Plan when you reach 30 days of employment (“automatic enrollment”) and will contribute a specified percentage of your Deferral Compensation to the Plan as Pre-tax Elected Contributions (currently 5%) unless you affirmatively elect not to make Pre-tax Elected Contributions or make them at a different rate. In addition, unless you affirmatively elect otherwise, the percentage of your Pre-tax Elected Contributions will automatically increase by 1% in March of each subsequent Plan year until the percentage reaches 10%. Your first 1% increase will occur in March of the year following the year in which you were automatically enrolled in the Plan. You have up to 30 days beginning with your first day of employment at a Participating Company as an Eligible Employee to decline or change automatic enrollment. If you affirmatively elect not to make Pre-tax Elected Contributions, you may later elect to begin making contributions to the Plan by calling Merrill Lynch at 1-800-97-AMGEN.

Subject to certain limitations, Pre-tax Elected Contributions may be made in any whole number percentage, alone or in combination with Roth Elective Contributions and After-tax Elected Contributions, up to a total limit of 30% of your Deferral Compensation. However, your total Pre-tax Elected Contributions and Roth Elective Contributions (excluding Catch-up Contributions) for any calendar year may not exceed the maximum amount prescribed by the Code which is adjusted periodically to reflect cost-of-living increases determined by the IRS. In 2017, this maximum amount is $18,000. To find out the maximum amount for the current or any prior Plan year, you may contact the Amgen Benefits Center at Merrill Lynch at 1-800-97-AMGEN.

In addition, if you reach age 50 during the calendar year or any earlier year, you may make additional Catch-up Contributions in any whole number percentage each pay period (not to exceed 50% of your Deferral Compensation). Catch-up Contributions can be made as either Pre-tax Elected Contributions or as Roth Elective Contributions. The maximum annual Catch-up Contributions for 2017 is $6,000 and is a shared limit for both Pre-tax Elected Contributions and Roth Elective Contributions. This means that while you may make Catch-up Contributions as one or both, the combined total may not exceed $6,000. Please note that you must make a separate election to take advantage of the Catch-up Contributions. Maximum Catch-up Contributions may be adjusted by the IRS for inflation.

There is also a cap on the amount of Deferral Compensation on which your contributions may be based. For 2017, you can make Participant Elected Contributions until you reach $270,000 in Deferral Compensation. Once you reach this limit on Deferral Compensation, you are unable to make any additional Participant Elected Contributions (other than Catch-up Contributions) for the year.

If you initially elect not to make Pre-tax Elected Contributions, you may subsequently elect to begin making them by contacting Merrill Lynch or through Merrill Lynch Benefits OnLine service. Your election will become effective as soon as administratively practicable.

9. You may change your contribution percentage at any time by contacting Merrill Lynch (1-800-97-AMGEN) or by going on-line to Benefits OnLine (www.benefits.ml.com). You may also stop your Pre-tax Elected Contributions at any time by contacting Merrill Lynch (1-800-97-AMGEN) or by going on-line to Benefits OnLine (www.benefits.ml.com) and reducing your contribution percentage to zero (0). If you stop making Pre-tax Elected Contributions altogether, you can resume such contributions by contacting Merrill Lynch (1-800-97-AMGEN) or by going on-line to Benefits OnLine (www.benefits.ml.com) and changing your Pre-tax Elected Contribution percentage to a number between 1% and 30%. Any changes to your contribution percentage will take effect as soon as administratively practicable. Will I be taxed on my Pre-tax Elected Contributions when contributed?

Under Section 401(k) of the Code, your Pre-tax Elected Contributions are not included as income in determining your federal income tax, subject to certain limitations. Note that even Pre-tax Elected Contributions that you make to the Plan may be subject to state taxes depending on the state in which you live. The total of your Pre-tax Elected Contributions and Roth Elective Contributions (not including Catch-up Contributions) to the Plan for the calendar year plus any other similar elective “before-tax” or Roth-type contributions made by you for the same calendar year to any other plan that qualifies under Section 401(k) of the Code (“401(k) plan”) (for example, a 401(k) plan maintained by another employer) may not exceed the maximum amount prescribed by the Code, which is adjusted periodically to reflect cost-of-living increases determined by the IRS. For 2017, the maximum amount of Pre-tax Elected Contributions is $18,000 (see Question 19 regarding what happens if the maximum amount is exceeded). However, all Participant Elected Contributions are included as compensation for purposes of determining Social Security contributions and benefits. For a more detailed discussion of the federal tax consequences of participating in the Plan see Questions 45 through 57.

10. How do I make Roth Elective Contributions?

If you are an Eligible Employee, you may elect to contribute a percentage of your Deferral Compensation to the Plan as Roth Elective Contributions on an after-tax basis. Unlike the Pre-tax Elected Contributions, newly hired staff members are not automatically enrolled but rather must affirmatively elect to make Roth Elective Contributions. You may elect to begin making such contributions to the Plan by calling Merrill Lynch at 1-800-97-AMGEN or by going on-line to Benefits OnLine (www.benefits.ml.com). Subject to certain limitations, Roth Elective Contributions may be made in any whole number percentage alone or in combination with Pre-tax Elected Contributions and After-tax Elected Contributions up to a total limit 30% of your Deferral Compensation. However, remember that your total Pre-tax Elected Contributions and Roth Elective Contributions for any calendar year may not exceed the maximum amount prescribed by the Code, which is adjusted periodically to reflect cost-of-living increases determined by the IRS. For 2017, the maximum amount of Pre-tax Elected Contributions and Roth Elective Contributions is $18,000. To find out the maximum amount for a current or any prior Plan year, you may contact Merrill Lynch at 1-800-97-AMGEN or by going on-line to Benefits OnLine (www.benefits.ml.com).

You may also be eligible to make after-tax Catch-up Contributions to your Roth Elective account, subject to the limitations discussed in Questions 17 and 18. At the time of election, you

must designate whether the Catch-up Contribution is a Pre-tax Elected Contribution or a Roth Elective Contribution.

There is also a cap on the amount of Deferral Compensation on which your contributions may be based. For 2017, you can make Participant Elected Contributions (which includes Roth Elective Contributions) until you reach $270,000 in Deferral Compensation. Once you reach this limit on Deferral Compensation, you are unable to make additional Participant Elected Contributions (other than Catch-up Contributions) during the year.

You may change your contribution percentage at any time by contacting Merrill Lynch (1-800-97-AMGEN) or by going on-line to Benefits OnLine (www.benefits.ml.com). You may also stop your Roth Elective Contributions at any time by contacting Merrill Lynch (1-800-97-AMGEN) or by going on-line to Benefits OnLine (www.benefits.ml.com) and reducing your contribution percentage to zero (0). If you stop making Roth Elective Contributions altogether, you can resume such contributions by contacting Merrill Lynch (1-800-97-AMGEN) or by going on-line to Benefits OnLine www.benefits.ml.com) and changing your Roth Elective Contribution percentage to a number between 1% and 30%. Any changes to your contribution percentage will take effect as soon as administratively practicable.

11. Will I be taxed on my Roth Elective Contributions?

Yes. Amounts you contribute to the Plan as Roth Elective Contributions are taxed prior to deduction from your paycheck.

12. How do I make After-tax Elected Contributions?

If you are an Eligible Employee, you may elect to contribute a percentage of your Deferral Compensation to the Plan as After-tax Elected Contributions on an after-tax basis. Unlike the Pre-tax Elected Contributions, newly hired staff members are not automatically enrolled but rather must affirmatively elect to make After-tax Elected Contributions. You may elect to begin making such contributions to the Plan by calling Merrill Lynch at 1-800-97-AMGEN. Subject to certain limitations, After-tax Elected Contributions may be made in any whole number percentage alone or in combination with Pre-tax Elected Contributions and Roth Elective Contributions up to a total limit of 30% of your Deferral Compensation. However, your total After-tax Elected Contributions for any calendar year may not exceed the maximum amount allowed by the Plan which is $9,000 for 2017. This limit may be adjusted periodically. Additionally, “key employees” are subject to additional restrictions on After-tax Elected Contributions (see Question 17).

There is also a cap on the amount of Deferral Compensation on which your contributions may be based. For 2017, you can make Participant Elected Contributions (which include After-tax Elected Contributions) until you reach $270,000 in Deferral Compensation. Once you reach this limit on Deferral Compensation, you are unable to make additional Participant Elected Contributions (other than Catch-up Contributions) during the year.

You may change your contribution percentage at any time by contacting Merrill Lynch (1-800-97-AMGEN) or by going on-line to Benefits OnLine (www.benefits.ml.com). You may also

stop your After-tax Elected Contributions at any time by contacting Merrill Lynch (1-800-97-AMGEN) or by going on-line to Benefits OnLine (www.benefits.ml.com) and reducing your contribution percentage to zero (0). If you stop making After-tax Elected Contributions altogether, you can resume such contributions by contacting Merrill Lynch (1-800-97-AMGEN) or by going on-line to Benefits OnLine (www.benefits.ml.com) and changing your After-tax Elected Contribution percentage to a number between 1% and 30%. Any changes to your contribution percentage will take effect as soon as administratively practicable.

After-tax Elected Contributions are subject to annual IRS testing requirements that are intended to prevent Highly Compensated Employees from making After-tax Elected Contributions excessively above the average rate of After-tax Elected Contributions made by Non-Highly Compensated Employees. If you are a Highly Compensated Employee and make After-tax Elected Contributions, the Company may be required to distribute all or a portion of your After-tax Elected Contributions back to you to pass these requirements.

13. Will I be taxed on my After-tax Elected Contributions?

Yes. Amounts you contribute to the Plan as After-tax Elected Contributions are taxed prior to deduction from your paycheck.

14. Which are better - Pre-tax Elected Contributions, Roth Elective Contributions or After-tax Elected Contributions?

Only you can decide that, based upon your particular circumstances. Before deciding whether to make Pre-tax Elected Contributions, Roth Elective Contributions or After-tax Elected Contributions (or a combination of the three), please review the discussion of the federal tax consequences of Pre-tax Elected Contributions, Roth Elective Contributions and After-tax Contributions in Questions 45 through 57, as well as the discussion about the prohibition on obtaining a loan or a hardship withdrawal from Roth Elective Contributions and the prohibition on obtaining a hardship withdrawal from After-tax Elected Contributions in Questions 30 and 31. Please also note that you will not receive Matching Contributions with respect to your After-tax Contributions.

15. What kinds of contributions will the Participating Companies make under the Plan?

The Plan provides that a Participating Company will make Core Contributions and Matching Contributions on behalf of Participants. Company Contributions are always made on a pre-tax basis. Currently, Core Contributions are equal to 5% of each Participant’s Core Compensation and are allocated on a payroll period basis. Core Contributions are intended to satisfy the “safe harbor” requirements under Code Sections 401(k)(12) and 401(m)(11). For additional information regarding the “safe harbor” requirements, you may refer to the safe harbor notice that is annually distributed to Participants in the Plan.

The Core Contributions (and other discretionary contributions by Participating Companies, if any, other than Matching Contributions) will be allocated among Eligible Employees (see Question 1), whether or not they have elected to make Participant Elected Contributions. On the

other hand, Matching Contributions will be allocated only among those current Participants who have elected to make Pre-tax Elected Contributions or Roth Elective Contributions during the Plan Year (or other period) for which the Matching Contributions are made. Matching Contributions are described in more detail in Question 16 below.

16. How are Matching Contributions made?

Matching Contributions are equal to 100% of the first 5% of Deferral Compensation that a Participant elects to contribute to the Plan as Pre-tax Elected Contributions and Roth Elective Contributions per payroll period. Matching Contributions are always made on a pre-tax basis. If you make Pre-tax Elected Contributions and Roth Elective Contributions for some payroll periods at a rate greater than 5% and for other payroll periods at a rate less than 5% in the same Plan Year, you may receive “true up” Company Matching Contributions if you are employed by a Participating Company on the last day of a calendar quarter. The amount of the “true up” Matching Contributions shall be the maximum amount of Matching Contributions that you could have received based on your total Pre-tax Elected Contributions and Roth Elective Contributions through the end of that calendar quarter less the amount of Company Matching Contributions that you actually received through the end of that calendar quarter, subject to such administrative procedures as the Participating Company may establish to reflect payroll periods that end on other than the last day of a calendar quarter.

17. Are there any limits on contributions or the aggregate amounts that may be allocated to my Plan Account?

Yes. The amount of Pre-tax Elected Contributions and Roth Elective Contributions (excluding Catch-up Contributions) that you may make in any calendar year is limited to $18,000 for 2017, and will be adjusted periodically in the future by the IRS to reflect increases in the cost of living. The maximum annual Catch-up Contribution for 2017 is $6,000, and may be adjusted for inflation in $500 increments in future years. This means that a Participant who is eligible to make Catch-up Contributions has the opportunity to make a total contribution of $24,000 to the Plan during 2017. The maximum amount of After-tax Elected Contributions to the Plan is $9,000 for 2017.

You may call Merrill Lynch at 1-800-97-AMGEN for information on the current maximum contribution or the maximum contribution for any other Plan year. Also, excluding Catch-up Contributions, the total of your Pre-tax Elected Contributions, Roth Elective Contributions and After-tax Elected Contributions cannot exceed 30% of your Deferral Compensation.

Each Participant is subject to another limit known as the “annual additions” limitation. This limitation provides that the sum of your Participant Elected Contributions (other than any Catch-up Contributions), your Matching Contributions and Core Contributions during a calendar year cannot exceed the lesser of (a) 100% of your Code Section 415 compensation for that year or (b) a specified dollar limit for that year ($54,000 for 2017).

Special rules exist for “key employees.” It is important to note that if you are a “key employee” within the meaning of Section 416(i) of the Code, certain special limits apply to your

contributions under the Plan and the Amgen Retiree Medical Savings Account Plan (“RMSA”). Specifically, for 2017, you are limited to a combined limit of $9,000 in After-tax Elected Contributions and RMSA after-tax contributions. If you contributed $9,000 in After-tax Contributions to the Plan, you will not be eligible to make RMSA after-tax contributions. You will be notified if you are a key employee and subject to this limitation. In addition, any after-tax contributions you make to your employee contributions account in the RMSA will be counted as “annual additions” under the Plan.

18. What is a “Catch-up Contribution”?

Catch-up Contributions are additional Pre-tax Elected Contributions or Roth Elective Contributions. If you reach age 50 during the calendar year or any earlier year, you may make additional Catch-up Contributions each pay period (not to exceed 50% of your Deferral Compensation, based on whole percentages). As described in Question 17 above, the maximum annual amount of Catch-up Contributions for 2017 is $6,000. For example, if you reach the $18,000 limit in 2017, you may still contribute an additional $6,000 as Catch-up Contributions for a total of $24,000 in Pre-tax Elected Contributions or Roth Elective Contributions. Please note that you must make a separate election to take advantage of Catch-up Contributions and that you must designate Catch-up Contributions as either Pre-tax Elected Contributions, Roth Elective Contributions or a combination of both. Please also note that if you elect to make Catch-up Contributions, the contributions made pursuant to your election will reduce the maximum annual amount of Catch-up Contributions available under the Plan, even if such contributions do not qualify as Catch-up Contributions under Section 414(v) of the Code.

Catch-up Contributions are eligible for Matching Contributions subject to the limits on Matching Contributions described in Question 16. The tax treatment of Catch-up Contributions will depend on whether they are made on a pre-tax basis as Pre-tax Elected Contributions or on an after-tax basis as Roth Elective Contributions, as you elect. For a discussion of the general federal tax consequences associated with Plan participation, see Questions 45 through 57.

19. What happens if I exceed the annual limit on Pre-tax Elected Contributions and Roth Elective Contributions?

If your Pre-tax Elected Contributions and Roth Elective Contributions during any calendar year (plus any other elective deferral contributions you may have made during such year to any other 401(k) plan maintained by the Company) reach the maximum amount specified in the Code, the Company will automatically suspend your election for remaining portion of the Plan Year. Your Pre-tax Elected Contributions and Roth Elective Contributions will automatically resume in January of the following Plan Year. In the unlikely event that your election is not suspended timely, e.g., due to systems error, and an excess arises, the Company automatically will pay the excess to you by April 15 following the calendar year of the excess. The excess will be adjusted for earnings and losses up to the last day of the Plan Year in which the excess contributions were made.

Excess deferral contributions can also arise where the maximum is exceeded due to the combination of Pre-tax Elected Contributions and Roth Elective Contributions under the Plan and

elective deferrals made to 401(k) plans of unrelated employers. In this case, the tax consequence is possible double taxation of such excess amounts to you if the amounts are not timely distributed. The amount in excess of the limit and arising in connection with the unrelated employer’s plan will be taxable to you in the year in which such excess contributions were made, and are again subject to tax when they are eventually distributed (see Question 49). For a discussion of the general federal tax consequences associated with distributions, see Questions 45 through 57.

You can avoid making excess contributions in the first place by notifying Amgen Human Resources (Benefits Department) of how much you contributed to your other employer’s 401(k) plan. Human Resources can then work with you to establish a contribution level that will not cause you to have an excess contribution. Should an excess contribution occur, the Plan provides for the return of such excess contributions to you if you make a written claim, so that you can avoid the double taxation of the contributions. To obtain the return of your excess elective deferral contributions, you must submit a written claim to the Company specifying the amount of your total excess deferral contributions and the amount of such excess contributions that you want returned to you from the Plan. If you made both Pre-tax Elected Contributions and Roth Elective Contributions, you must indicate the proportion of each to be returned to you. Your designation must be consistent with the contributions made to the Plan throughout the year. If you do not designate the type of contribution, the Plan will return excess Pre-tax Elected Contributions first. The written claim must be submitted to Human Resources by March 1st following the calendar year in which the excess contributions were made. The amount of the excess contributions that you request to be returned to you may not exceed your actual Pre-tax Elected Contributions and Roth Elective Contributions to the Plan for the calendar year (adjusted for any investment gains or losses). The amount of such excess deferral will be distributed to you by the April 15th following your written claim if it is timely submitted. Any Matching Contributions attributable to excess contributions distributed will also be forfeited.

20. May I make Rollover Contributions to my Plan Account?

Yes. Subject to certain rules and procedures, an Eligible Employee may make Rollover Contributions to the Plan. The Plan accepts Rollover Contributions of both pre-tax and after-tax contributions, with certain restrictions. The Rollover Contribution must be a “qualifying rollover contribution” from another qualified plan or an Individual Retirement Account (IRA) and must be in U.S. dollars (in-kind contributions are not accepted).

The Plan also accepts Rollover Contributions of Roth after-tax amounts. The Rollover Contribution must be in U.S. dollars (in-kind contributions are not accepted). However, the Plan will only accept a Rollover Contribution of Roth after-tax amounts from another qualified Plan. The Plan will not accept a Rollover Contribution of Roth after-tax amounts from a Roth IRA.

If the Plan determines that the Rollover Contribution is qualified, the amount will be placed in a Rollover Contribution account on your behalf. Pre-tax, after-tax, and Roth Elective Contributions will each be maintained in separate Rollover Contribution accounts.

Rollover Contributions are generally administered in the same way as Participant Elected

Contributions. Upon request, Merrill Lynch will provide you with additional information

regarding Rollover Contributions.

If you do not affirmatively elect an Investment Option(s) in which to invest your Rollover Contributions, your contributions will be invested in the qualified default investment, currently PersonalManager®. See Question 34 for additional discussion regarding PersonalManager.

21. Does the Plan have a vesting schedule?

Except for those Participants whose employment with a Participating Company terminated on or prior to December 31, 2001, a Participant’s interest in all his or her Plan Account is 100% vested at all times. This is true for your Participant Elected Contributions, Rollover Contributions, and Company Contributions.

Valuation of Plan Account

22. How do investment results affect my Plan Account?

The value of your Plan Account and of the Trust Fund as a whole is determined as of the end of each business day of the Plan Year. Since you direct the investment of your own Plan Account, your Plan Account will show only its own investment results and will not share in the gains or losses of the remainder of the Trust Fund. Amounts allocated to the Investment Options shall be credited to your Plan Account in dollars, in shares, and/or in units, as appropriate of the ownership in the underlying investment(s).

Investment gains and losses will be separately allocated to your Plan Account based on the individual investment performance of the Investment Options you have selected (see Question 34). You will receive a report showing the investment performance of your individual Plan Account and of the various Investment Options on a quarterly basis. You may view your Plan Account anytime by utilizing Merrill Lynch Benefits OnLine service.

23. What determines the total value of my Plan Account?

The total value of your Plan Account will depend on the following factors:

the amount of any Participant Elected Contributions made by you,

the amount of any Rollover Contributions made by you,

the amount of your share of any Company Contributions,

the amount of the investment earnings, gains and losses of the Investment Options in which your Plan Account is invested, and

the amount of loans, withdrawals and distributions from your Plan Account.

The total value of your Plan Account will also depend on investment management and investment administration fees and other administrative or service fees that are charged to your Plan Account as described in Question 34 under the heading “A Word About Plan Fees.”

Payment of Benefits

24. When are payments made from the Plan?

No amounts are payable prior to the termination of your employment except amounts which may be withdrawn due to financial hardship, disability, attainment of age 59½ or borrowed from the Plan (see Questions 30 and 31). If you transfer employment from one Amgen Company to another, you are not considered to have terminated employment for purposes of the Plan. In addition, if a Participant who, by reason of his or her service in a reserve component, is called to active duty for a period in excess of 179 days or for an indefinite period, a distribution may be made only during the period of the Participant’s military leave, and may be taken only from the Participant’s Pre-tax Elected Contributions, Roth Elective Contributions, or Catch-up Contributions as elected by the Participant.

Once you terminate employment, you can elect to receive your benefits immediately or at a later date, but not later than your Required Beginning Date. However, if the total value of your Plan Account including your Rollover Contributions account, if any, is $1,000 or less, and you do not elect a form of distribution within 60 days following termination, your benefits will be distributed as a lump sum without your consent as soon as administratively feasible thereafter.

For a discussion of the special tax rules associated with distribution of Roth Elective Contribution amounts, see Question 55. For a discussion of the federal tax consequences associated with any distribution, see Questions 45 through 57.

25. How are my benefits paid?

You may elect to have your benefits paid in any of the following forms:

a single lump sum payment in cash,

a single sum distribution in full shares of Amgen Common Stock (with any fractional shares paid in cash),

a single sum distribution paid in a combination of cash and full shares of Amgen Common Stock, or

cash installments paid at least annually over a 10-year period.

Your Plan Account must hold Amgen Common Stock in order to receive a distribution in Amgen Common Stock. Notwithstanding the above, if at the time benefits become payable to you under the Plan your entire Plan Account is not in excess of $5,000, the installment payments described above shall not be an available distribution option for your Plan Account.

The Company will designate the order of accounts from which distributions are made.

If you do not elect a form of distribution, your distribution will be paid to you in a single cash lump sum.

If you elect to receive your distribution in Amgen Common Stock and your Plan Account does not hold enough Amgen Common Stock (see Question 34 for a description of Amgen

Common Stock) to make the distribution, the remaining amounts in your Plan Account will be used to purchase additional shares of Amgen Common Stock at its then fair market value.

If you are an officer of the Amgen Companies who is subject to Section 16 of the Exchange Act, see Question 58.

26. When are death benefits paid?

If you die before your benefit payments begin and you have a Plan Account, whether or not you are still employed by a Participating Company at the time of your death, your Beneficiary will begin receiving payments within a reasonable time following your death. However, if your child is your Beneficiary and such child is under the age of 18 at the time of your death, then the child may elect to defer distribution of your Plan Account until a later date, but in no event later than the earlier of his or her attainment of age 18 or December 31 of the calendar year in which the fifth (5th) anniversary of your death occurs.

27. How are death benefits paid?

If you die before your benefit payments begin, your benefit will be distributed in a single lump sum. If you die after your benefit payments begin, any undistributed amounts will be paid to your Beneficiary, if your Beneficiary is your surviving spouse, in the same form of benefit, and under the same terms, elected by you before your death. If your Beneficiary is not your surviving spouse, he or she will receive any undistributed amount in a single lump sum. For a discussion of the federal tax consequences associated with such distributions, see Questions 52 through 55.

28. What is the procedure for electing the payment of benefits?

When your employment terminates, the Company provides you with important information concerning the distribution of your Plan Account balance. If you wish to elect a distribution, you will need to contact Merrill Lynch at 1-800-97-AMGEN or access Merrill Lynch Benefits OnLine service. Distribution of your benefits to you or your designated Beneficiary will begin in the manner explained in Questions 25 through 27. If you are an officer of the Company who is subject to Section 16 of the Exchange Act, see Question 58.

29. How do I designate a Beneficiary?

You may designate a Beneficiary or Beneficiaries to receive the benefits payable under the Plan in the event of your death by completing the appropriate beneficiary designation form on-line at Merrill Lynch Benefits OnLine. However, if you are married (as determined under applicable law), you may not designate a Beneficiary other than your spouse unless your spouse consents to such designation in writing. To be valid, your spouse’s written consent must be witnessed by either a Plan representative or a notary public and meet other legal requirements as well.

If you do not make a Beneficiary designation, your Beneficiary pre-deceases you, or your Beneficiary designation is invalid when a distribution is to be made, then (a) your then-living spouse (regardless of whether such spouse is of the same or opposite gender as you) will be the Beneficiary; or (b) if none, your then-living children will be the Beneficiaries in equal shares; or (c) if none, your then-living parents will be the Beneficiaries in equal shares; or (d) if none, your

then-living brothers and/or sisters will be the Beneficiaries in equal shares; or (e) if none, your estate will be your Beneficiary.

In the event you designate your spouse as your Beneficiary, and you and your spouse subsequently divorce, and sufficient evidence of such divorce is provided to the Plan, the designation of the former spouse as Beneficiary shall automatically be voided. In the event that you want your former spouse to remain as your/her Beneficiary, you must either submit a new Beneficiary designation subsequent to the date of divorce, or your former spouse must be named as your Beneficiary in a qualified domestic relations order. If you do not designate a Beneficiary subsequent to the designation of your former spouse becoming void, then the benefit shall be payable to the contingent Beneficiary designated by you in writing and filed with the Plan prior to your death or, if none, in accordance with the provisions of the prior paragraph, governing the disposition of benefits upon the death of a Participant who does not make an effective Beneficiary designation.

A designated Beneficiary may waive his/her right to receive benefits under the Plan upon the death of an eligible Participant; provided, however, that such waiver must be given in a writing witnessed by a notary public and on a form provided by the Plan. Any such waiver must be filed with the Plan at least 30 days prior to the earlier of (a) the death of the Participant, or (b) the death or incapacity of such designated Beneficiary. Notwithstanding the foregoing, a Beneficiary can waive his/her benefit after the death of the Participant if the waiver meets the requirements of a qualified disclaimer under Code Section 2518(b), and is a valid disclaimer under the law of the state in which the Participant resided at the time of his/her death, or other applicable law. Once such a waiver has been received by the Plan, it may not be revoked. In the event a designated Beneficiary has filed a waiver with the Plan as set forth above, then the benefit which such Beneficiary would have been entitled to receive shall be payable to the contingent Beneficiary designated by the Participant in writing and filed with the Plan prior to the Participant’s death or, if none, in accordance with the provisions above, governing the disposition of benefits upon the death of a Participant who does not leave a surviving designated Beneficiary.

Loans and Withdrawals

30. May I borrow money from my Plan Account?

Subject to certain restrictions, you may borrow from all of your Plan Account, except your Roth Elective Contributions account. A loan is taken from your Plan Account in the order designated by the Company. The loan program is administered by Merrill Lynch in accordance with certain loan guidelines adopted by the Company.

Pursuant to the Company’s Insider Trading Policy, loans taken from your Plan account which result in a liquidation of some or all of your Amgen Common Stock balance in the Amgen Common Stock fund will not be permitted if you are in possession of material non-public information about the Amgen Companies at that time. All officers of the Amgen Companies are also required to pre-clear transactions in Amgen Common Stock, including certain changes and elections involving the Amgen Common Stock fund. Please refer to Question 36 for further details. In addition, if you are an officer of the Amgen Companies who is subject to Section 16 of the Exchange Act, see Question 58 for more information.

Plan loans must be repaid within five years from the date the loan is made or on the date your employment with the Participating Companies ends, whichever is earlier. However, if the purpose of the loan is to acquire your principal residence, the term of the loan may be up to 20 years (or the termination of your employment, if earlier). Generally, loan repayments must be made through payroll deductions. Loan repayments may be suspended during periods of “qualified military service” (as defined in Code Section 414(u)), and the term of your loan may be extended by the length of your leave of absence due to qualified military service. In addition, your loan repayments may be suspended for up to one year if you are on a bona fide, unpaid leave of absence; however, the term of your loan cannot be extended by the length of your bona fide leave of absence.

The maximum number of loans that you can have at any one time is two. The minimum loan amount is $1,000. The maximum loan amount, when aggregated with any outstanding loans you have under any other qualified plans maintained by another Amgen Company, is the lesser of:

50% of your Plan Account (determined without regard to amounts held in any Roth Elective Contribution account), or

$50,000, reduced by the excess, if any, of (a) the highest aggregate outstanding loan balance of all your other Plan loans over the prior 12-month period ending on the day before the new loan is made, over (b) the aggregate outstanding loan balance on the date on which the new loan is made.

In other words, the maximum loan amount may be reduced if you have an outstanding loan under the Plan or a plan maintained by another Amgen Company.

Your loan will bear interest at a rate equal to the interest rate then currently prevalent for secured bank loans, which, until changed by the Company, shall be equal to the prime rate plus one

percentage point as published in the Wall Street Journal, determined as of the last day of the preceding calendar quarter, or such other rate as may be required by law if you are on a leave of absence due to qualified military service (as defined above). You must sign a promissory note (located on the back of your loan check) for the amount of the loan, and your note will be secured by up to 50% of your Plan Account. By endorsing the check you are agreeing to the terms of the loan.

A loan from the Plan will be considered in default if any payment is more than 90 days past due or if there is any outstanding principal balance on the loan after the maximum five or 20 year repayment period allowed by law, as applicable. Upon default, the Company may take whatever action it deems necessary to recover on the Plan’s security interest. Actions that the Company may take include, but are not limited to, demanding full payment or treating the unpaid balance on your promissory note as a distribution to you, which will result in taxable income to you (see Question 57). Furthermore, if you default on a loan, you will not be permitted to obtain another loan from the Plan in the future.

All Plan loans are subject to the requirements of the Code, other governmental regulations and restrictions, and the Plan’s loan guidelines. If you would like to take a loan from the Plan, contact Merrill Lynch at 1-800-97-AMGEN or access Merrill Lynch Benefits OnLine service. Your loan request will be approved if all the requirements described in the loan guidelines are satisfied. For a copy of the loan guidelines, please contact Merrill Lynch or access Merrill Lynch Benefits OnLine service. An approved loan will be distributed as soon as reasonably practicable after the loan request is received.

31. May I withdraw money from my Plan Account while I am employed?

You may make withdrawals of certain types of contributions from your Plan Account while you are still employed only after you have reached age 59½, upon suffering a disability as defined in the Plan, or in the event of a hardship resulting from an “immediate and heavy” financial need. Withdrawals must be made in accordance with uniform and nondiscriminatory policies and procedures established by the Company in accordance with IRS regulations. Reasonable costs of processing the withdrawals may be charged to your Plan Account.

After reaching age 59½ or upon suffering a disability, you may withdraw all or part of your Plan Account.

In the event of circumstances that create an immediate and heavy financial need under criteria established by the IRS, you may withdraw Pre-tax Elected Contributions and Rollover Contributions from your Plan Account up to the amount needed to relieve the need. You must represent that the need cannot reasonably be met by other available assets including a loan from the Plan or under any other plan sponsored by an Amgen Company, and including any dividend distributions currently available from the Company Stock Fund. The circumstances that the IRS has determined to constitute an immediate and heavy financial need include:

construction or purchase of your principal residence (excluding mortgage payments),

payment of extraordinary and unreimbursed medical expenses or payment necessary to obtain medical care for you, your spouse or your dependent(s),

tuition for the next twelve months of post-secondary education for you, your spouse, your children or your dependent(s),

expenses incurred by you for the burial and/or funeral of a family member,

expenditures needed to prevent eviction from your principal residence or the foreclosure of the mortgage on your principal residence,

expenses for the repair or damage to your principal residence that would qualify for the casualty deduction under Code Section 165 (determined without regard to whether the loss exceeds 10% of adjusted gross income), or

any other financial need that the IRS may subsequently identify as an immediate and heavy financial need (except that you may not receive a hardship distribution in order to meet the financial needs of, or associated with, a designated beneficiary, unless such person otherwise qualifies as the basis of a hardship withdrawal by virtue of being your spouse, parent, child or dependent).

The amount available for a hardship withdrawal will be limited to an amount equal to all of your Pre-tax Elected Contributions plus investment income (and net of investment losses) allocable to such contributions as of December 31, 1988, and Rollover Contributions plus earnings. Income allocable to Pre-tax Elected Contributions after December 31, 1988 may not be withdrawn due to hardship. You may not take a hardship withdrawal of any Roth Elective Contributions, After-tax Elected Contributions, Matching Contributions or Core Contributions credited to your Plan Account (and any earnings thereon). All hardship withdrawals will be paid in the form of a cash lump sum and will be paid from your Plan Account in the order and percentage as designated by the Company.

If you receive a hardship withdrawal, you will be suspended from participation in the Plan for six (6) months measured from the date you received the hardship withdrawal (see Question 4). During your suspension from participation, you may not make Participant Elected Contributions (or other elective contributions under any other deferred compensation plan maintained by the Amgen Companies), receive Matching Contributions, receive a loan or obtain an in-service withdrawal. However, you will be eligible to receive Core Contributions during this time.

Pursuant to the Company’s Insider Trading Policy, withdrawals of funds held in the Amgen Common Stock fund will not be permitted while you are in possession of material non-public information about the Amgen Companies. All officers of the Amgen Companies are also required to pre-clear transactions in Amgen Common Stock, including certain changes and elections involving the Amgen Common Stock fund. Please see Question 36 for details. If you are an officer of the Amgen Companies who is subject to Section 16 of the Exchange Act, see Question 58 for more information.

Amounts withdrawn from the Plan generally will be subject to federal and any applicable state and local income taxes. Furthermore, amounts received as withdrawals prior to the time you reach age 59½ may be subject to additional penalty taxes of 10% for federal income tax purposes

(see Question 53) and 2½% for California residents for California income tax purposes (residents of other states may be subject to additional state or local penalty taxes as well).

If you would like to request an in-service or hardship withdrawal from the Plan, contact Merrill Lynch at 1-800-97-AMGEN or access Merrill Lynch Benefits OnLine service. A qualifying in-service or hardship withdrawal will be distributed as soon as reasonably practicable after the request is received.

Plan Administration and Investments

32. How is the Plan administered?

The Company is the Plan administrator and, except for authority given to the Fiduciary Committee with respect to Plan investments (as described below), the named fiduciary for the Plan, and, as such, is responsible for the operation and administration of the Plan. The Plan also contains provisions outlining the duties of Amgen as Plan administrator, which include the responsibility and authority to interpret the provisions of the Plan, determine eligibility for Participants and Beneficiaries, and the responsibility and authority for the general operation of the Plan. These and other administrative functions are carried out on behalf of Amgen by members of Amgen’s Human Resources (Benefits Department) and by other officers and employees.

In addition, the Company, acting through its Senior Vice President, Human Resources, has appointed certain employees of the Company to serve as members of the Fiduciary Committee, which is the named fiduciary of the Plan with respect to the investment of the Plan’s assets. Among its duties, the Fiduciary Committee has the authority to select the Asset Classes to be offered to Participants under the Plan and the underlying investment managers and to monitor their performance, including the Fiduciary Committee’s authority to terminate the Amgen Common Stock fund or freeze future investments into the Amgen Common Stock fund if it determines that maintaining the Amgen Common stock fund as an investment option in the Plan is contrary to ERISA.

Merrill Lynch, Pierce, Fenner and Smith, Inc. (“Merrill Lynch”), as Custodian and Plan Trustee, exercises fiduciary responsibility with respect to the Amgen Common Stock fund.

Merrill Lynch maintains a record of all Participants’ Plan Accounts in accordance with the terms of the Plan. These records are maintained on a Plan Year basis which runs from January 1 through the following December 31. You will receive statements of your Plan Account and reports on the performance of the Investment Options on a quarterly basis.

33. Who holds the Plan funds?

All contributions to the Plan will be deposited and held by the Trustee in a separate Trust Fund. All benefits provided by the Plan are paid solely from the Trust Fund.

34. How are Plan funds invested?

As a Participant, you may direct how your Plan Account is to be invested through Merrill Lynch at 1-800-97-AMGEN or by accessing Merrill Lynch Benefits OnLine service (www.benefits.ml.com). The Plan requires the availability of the Amgen Common Stock fund unless the Fiduciary Committee determines it is no longer prudent to offer the Amgen Common Stock fund, and the Fiduciary Committee has, in addition, selected a number of Asset Classes that you may use for the investment of your Plan Account. Information relating to the various Asset Classes and the components of each Asset Class is accessible at www.benefits.ml.com. You must make your investment elections based on whole percentages, not dollar amounts. Please note that

if you do not elect how your Plan Account is to be invested, it will be invested in the default investment until you elect to invest the Plan Account in a different manner. The current qualified default investment arrangement is the Merrill Lynch PersonalManager managed account.

PersonalManager uses a computer model and portfolios constructed by an independent financial expert, plus Participant data, to create and manage a personalized account for each Participant. The independent financial expert constructs these portfolios from the menu of Asset Classes made available under the Plan. PersonalManager seeks to achieve varying degrees of long-term appreciation and capital preservation through a mix of equity and fixed income exposures offered through the Asset Classes made available under the Plan, based on your age, target retirement date (such as normal retirement age under the Plan (age 65), life expectancy and personal data (e.g., savings rate and salary). In the event that you do not provide necessary data (such as salary and savings rate after employment terminates), PersonalManager will retain your current portfolio allocation and then age alone will be used by PersonalManager to manage your account unless you provide updated information. Please contact Merrill Lynch at 1-800-97-AMGEN or visit Merrill Lynch Benefits OnLine at http://www.benefits.ml.com for additional information regarding PersonalManager.

IMPORTANT NOTE: This Plan is intended to constitute a plan described in section 404(c) of ERISA and Title 29 of the Code of Federal Regulations section 2550.404(c)(1), which means that the Company, the Fiduciary Committee, the Trustee and other fiduciaries may be relieved of liability for any losses that are the direct and necessary result of investment instructions given by a Participant or Beneficiary. Before you make any decisions regarding the investment of your Plan Account, you should carefully read the various fund fact sheets and prospectuses (as applicable) for each of the Asset Classes and the Amgen Common Stock fund and other materials provided on Merrill Lynch Benefits Online. You may request a copy of the fund fact sheets or prospectuses (as applicable) by calling 1-800-97-AMGEN.

The Asset Classes listed below represent an investment lineup that is designed to meet the needs of a variety of investors by offering 16 different Asset Classes. Each of the Asset Classes has one or more underlying investment funds. Investment advisors manage these underlying investments using three categories of investment vehicles: Separately Managed Accounts, Commingled Accounts, and Mutual Funds. It is important to note that each Asset Class should be thought of as a single investment. Profiles and descriptions of the Asset Classes (including the applicable investment advisors and investment vehicles used) are available at www.benefits.ml.com.

Changes in your investment direction and transfers from one Asset Class to another will be processed on the same day if such changes are received by 3 p.m. EST. Changes made after 3 p.m. EST will be processed on the next business day.

It is important to recognize that there are NO GUARANTEES of how your investments will do, and that past performance does not predict future performance. All of the Asset Classes offered have some risk, some more than others. Often those with the largest potential return have the greatest risk. Your ability and willingness to accept risk should be a very important factor in your investment decisions. This factor is influenced by your age and the length of time remaining

before you retire. How you spread your funds among the Asset Classes may also affect the risk of your investment decisions. Information regarding the risk and return characteristics and various other information regarding the Asset Classes under the Plan is available on Merrill Lynch Benefits OnLine service (www.benefits.ml.com).

The Asset Classes offered under the Plan are:

• Capital Preservation

• Inflation Protection

• Fixed Income Index

• Fixed Income

• Large Cap Index

• Large Cap Value

• Large Cap Growth

• Small-Mid Cap Index

• Small-Mid Cap Value

• Small-Mid Cap Growth

• Real Estate Investment Trust Index (REIT)

• International Index

• International Value

• International Growth

• High Yield

• Emerging Markets-Equity

Participants also have an opportunity to invest in the Amgen Common Stock fund and to use Self-Direct Brokerage. Self-Direct Brokerage is defined in further detail in the following pages.

Please note that dividends, interest and other gains or distributions received on assets held with respect to each Asset Class will be reinvested in the respective Asset Class. Cash dividends and other distributions received on Amgen Common Stock held in a Participant’s Account under the Amgen Common Stock fund that a Participant does not elect to receive in cash as described below shall be reinvested in Amgen Common Stock. Important Information About Amgen Common Stock

It is important to note that there are limitations that apply to the Amgen Common Stock fund:

A maximum of 20% of your ongoing contributions can be invested in the Amgen

Common Stock fund. Note that this 20% ongoing contribution maximum does not apply to any shares of Amgen Common Stock that are purchased with dividend proceeds issued on Amgen Common Stock held in your Plan Account;

A maximum of 20% of your Rollover Contributions can be invested in the Amgen Common Stock fund; and

You can transfer amounts invested in the other Investment Options into the Amgen Common Stock fund until 20% of your total Plan Account balance is represented by the Amgen Common Stock fund. Once 20% of your total Plan Account balance is represented by the Amgen Common Stock fund (including reinvestment of dividends in Amgen Common Stock), you will not be able to transfer funds from any other Investment Option into the Amgen Common Stock fund.

Note that effective October 1, 2008, the 20% limitation described above shall not apply to the extent that such limit is exceeded as a result of an election made by you prior to July 16, 2016 to participate in the Advice Access Portfolio Rebalancing program (see page 32) and the limit was exceeded by overriding the Portfolio Rebalancing program’s allocation recommendation by investing in the Amgen Common Stock fund both inside and outside of the program.

In addition, any Amgen Common Stock issued under the Plan will be subject to such restrictions as the Company may deem necessary or desirable to assure compliance with applicable legal requirements, including, but not limited to, the right to require you to comply with any timing or other restrictions with respect to transactions involving Amgen Common Stock, including a blackout period limitation, as may be imposed in the sole discretion of the Company, or other requirement arising from compliance with any applicable securities laws.

Amgen Common Stock held within the Plan is accounted for as shares. This means that you will purchase actual shares of Amgen Common Stock, allowing you to hold both full and fractional shares of the stock and you will therefore know exactly how many shares are allocated to your Plan Account.

It is important to note that if you choose to sell your investment in the Amgen Common Stock fund, you will be subject to a three (3) day settlement period before your contributions are transferred to another Investment Option. However, if you move your transfer funds from an Investment Option into the Amgen Common Stock fund, your funds will immediately purchase shares of Amgen Common Stock and you will not be subject to a three (3) day settlement period.

Cash Dividends

Amgen’s Board of Directors, in its sole discretion, determines whether Amgen will issue dividends on shares of Amgen Common Stock. For any cash dividends paid with respect to Amgen Common Stock attributable to your Plan Account, you may elect either: (1) to receive a distribution in cash of all such cash dividends, or (2) to have such cash dividends reinvested in your Plan Account, where they will be used to purchase additional shares of Amgen Common Stock. The reinvestment of such dividends shall be treated as an irrevocable election as to the dividend in question. You will be fully vested in such dividends.

The election described above must be made in accordance with the written, electronic or telephonic method prescribed by the Company. Once you make an election, it will remain in effect for the dividend at issue and all subsequent cash dividends paid with respect to Amgen Common Stock attributable to your Plan Account; provided, however, that you will be given a reasonable opportunity before a dividend is paid in which to make an election, and you will have a reasonable opportunity to change a dividend election at least annually. Your election must be made with respect to the full cash dividend paid with respect to Amgen Common Stock attributable to your Plan Account, and may not be made only with respect to a portion of such dividends. The Company may establish procedures governing the time when such elections, or modifications of such elections, will be effective.

Pursuant to the Company’s Insider Trading Policy, modification of your election to reinvest Amgen stock dividends is not permitted while you are in possession or material non-public information about the Amgen Companies. All officers of the Amgen Companies are also required to pre-clear transactions in Amgen Common Stock, including certain changes and elections involving the Amgen Common Stock fund. If you are an officer of the Amgen Companies who is subject to Section 16 of the Exchange Act, see Question 58 for more information.

In the absence of your election to receive a distribution of cash dividends as provided above, the Company will presume that you have elected that such dividends should remain in your Plan Account and such dividends will be reinvested automatically and used to purchase additional shares of Amgen Common Stock for your Plan Account. All dividend reinvestment will be in accordance with the terms of the Plan and the trust agreement entered into under the Plan.

Your Rights Concerning Amgen Common Stock

Subject to federal law, the Company’s Insider Trading Policy, the Company’s pre-

clearance requirements for officers of the Amgen Companies and as discussed in greater detail in Questions 35 and 36, you may transfer any portion of your Plan Account that is already invested in Amgen Common Stock to any of the other available Investment Options on any business day.

For More Information

If you have any questions about your rights under this new law, including how to transfer amounts out of the Amgen Common Stock fund into any of the other available Investment Options, you may contact Merrill Lynch at 1-800-97-AMGEN. You may also direct how your Plan Account is to be invested by accessing your Plan Account at Merrill Lynch Benefits OnLine at www.benefits.ml.com.

The Importance of Diversifying Your Retirement Savings

To help achieve long-term retirement security, you should give careful consideration to the

benefits of a well-balanced and diversified investment portfolio. Spreading your assets among different types of investments can help you achieve a favorable rate of return, while minimizing your overall risk of losing money. This is because market or other economic conditions that cause

one category of assets, or one particular security, to perform very well often cause another asset category, or another particular security, to perform poorly. If you invest more than 20% of your retirement savings in any one company or industry, your savings may not be properly diversified. Although diversification is not a guarantee against loss, it is an effective strategy to help you manage investment risk.

In deciding how to invest your retirement savings, you should take into account all of your assets, including any retirement savings outside of the Plan. No single approach is right for everyone because, among other factors, individuals have different financial goals, different time horizons for meeting their goals, and different tolerances for risk. Therefore, you should carefully consider the rights described in this notice and how these rights affect the amount of money that you invest in company stock through the Plan.

It is also important to periodically review your investment portfolio, your investment objectives, and the investment options under the Plan to help ensure that your retirement savings will meet your retirement goals. Amgen recommends that you work with a financial advisor to make your investment decisions.

Advice Access

Participants of the Plan are able to take advantage of Advice Access. Advice Access is an investment advisory service offered by Merrill Lynch that offers personalized, unbiased savings and investment recommendations. Recommendations are provided by an independent financial expert, Ibbotson Associates. The service is available to you at no charge. Advice Access recommendations are based on a number of factors, including your salary, contribution rate, current plan asset allocation and specific investment options. Advice Access can take into consideration other data, including your goals and assets you hold outside the retirement plan, to formulate a comprehensive strategy. The highly flexible program allows you to control the level of personalization reflected in the recommendations, the manner in which you receive the advice, and the way in which you implement the recommendations. Implementation options include:

PersonalManager® (let Advice Access do the work) – Reviews your personal information approximately every 90 days. Based on any changes in your circumstances, the service will review your investment options and the percentage invested in each one, and make changes as needed. If no changes are needed, PersonalManager will rebalance your account to maintain the original recommended allocation.

Portfolio Rebalancing (let Advice Access help) – Implements the recommendations (or your own investment strategy, if you choose) and then maintains that investment mix until you change it. However, unlike PersonalManager, this service does not make adjustments to your investment strategy on an ongoing basis to help you stay on track.

One-Time Implementation (let Advice Access get you started) – Implements the initial recommendations, but does not provide ongoing rebalancing or investment updates.

It is important to note that the above information is only a summary and does not include all

information relating to the Plan investments or Advice Access. To receive full details regarding the Plan investments and Advice Access, please contact Merrill Lynch in one of the following ways:

Online at www.benefits.ml.com

By phone at 1-800-97-AMGEN

To set up a meeting with a financial advisor, please contact a Merrill Lynch Retirement Service Representative at 1-800-97-AMGEN.

Self-Direct Brokerage

Participants who want to more actively manage their investments can choose from a wider array of investment options by enrolling in Self-Direct Brokerage. With Self-Direct Brokerage, Participants can select investments in publicly traded stocks (excluding Amgen Common Stock), a wide range of mutual funds, and fixed-income investments (excluding Amgen debt) beyond those available in the Plan's investment lineup. There is an annual fee of $125, plus per trade charges and investment management fees in line with those charged at the retail level. Per trade charges include $14.95 for 1-1000 shares and $14.95 plus $0.03 per share for over 1,000 shares if the trade is executed online; or $50 for 1-100 shares, $25 plus $0.25 per share for 101-250 shares, $53.75 plus $0.125 per share for 251-500 shares, $90 plus $0.06 per share for 501-1000 shares, or $120 plus $0.03 per share for more than 1,000 shares if the trade is executed with the call center. For example, depending on your investment choices, you may be subject to additional fees by participating in Self-Direct Brokerage (e.g., certain mutual fund fees). For more details, including information about investment management fees, contact Merrill Lynch by logging on to Benefits OnLine at www.benefits.ml.com or by calling 1-800-97-AMGEN (1-800-972-6436).

A Word About Plan Fees

To further assist you in understanding how the Plan works, we have prepared the following overview of the components of the Plan fees. The fees in the Plan can be broken down into three categories.

The first category is fees associated with Plan administration. This includes the things that need to be done to operate a plan on a day-to-day basis, such as recordkeeping, online access to Participant Plan Accounts and voice access to customer service representatives. The Plan has negotiated with its service provider, Merrill Lynch, so that there are no separate charges to Participants for day-to-day Plan administration expenses.

The second category is fees for individual Plan services. Individual Plan service fees include, for example, costs associated with obtaining a Plan loan or making some withdrawals from the Plan. (See Questions 30 and 31). Currently, the Plan does not charge fees for obtaining loans or making withdrawals. You may also contact Merrill Lynch at 1-800-97-AMGEN to find out whether a service that you are considering has an associated fee.

The third and most important category is investment management and investment

administration fees, which are the fees and expenses associated with managing an investment fund’s assets. It is important that you understand that Participants indirectly pay investment management fees and expenses with respect to all Asset Classes, but not the Amgen Common Stock fund. These fees and expenses are paid out of the Asset Classes’ assets, thus reducing their returns. Custodial fees for mutual funds and commingled accounts are built into the applicable investment management fee, while custodial fees related to separately managed accounts are paid by Amgen. A transaction fee of $0.03 per share applies to both the purchase and the sale of Amgen stock in the Plan.

Asset Classes are not mutual funds. However, several underlying investment vehicles within the Asset Classes are mutual funds. These Asset Class investments do not have any front-end loads or redemption fees that are sometimes associated with mutual funds, but there are investment management fees and other expenses associated with an investment in these Asset Classes. You can find information on the fees and expenses of these Asset Classes, as well as a description of them on Merrill Lynch Benefits Online. Please note that, because certain of the Asset Classes are new investments under the Plan, there is limited performance information at this time.

The Company encourages each staff member to consult with a financial advisor to assess the investment opportunities contained in the Plan and to determine whether participation in the Plan is an appropriate investment. Please remember that you can also take advantage of Merrill Lynch’s Advice Access to assist you in your investment decision making. Please visit Benefits OnLine at www.benefits.ml.com or contact 1-800-97-AMGEN for additional information about Advice Access.

If you are an officer of the Amgen Companies who is subject to Section 16 of the Exchange Act, see Question 58.

35. May I change the investments in my Plan Account?

Yes. Subject to the limitations on investments in the Amgen Common Stock fund, the Company will establish rules and procedures under which you may change your investment elections. Currently, you may change your investment elections as to future contributions at any time effective as soon as administratively practicable following the request; however, the most recent request on file prior to the administrative cut-off date for the pay period shall be effective. Except as described below, amounts already invested in Amgen Common Stock or any of the other Investment Options may be transferred among all of the available Investment Options on any business day. You may elect such a transfer on any given day to be effective at the close of business on that day (subject to the time of the request and the market being open); however, the last election on file when the market closes is the election that takes effect. You will be notified of any additional procedures regarding your investment election and of any changes in these procedures.

As discussed above, if you choose to sell your investments in your Amgen Common Stock fund, you will be subject to a three (3) day settlement period before your contributions are transferred to another Investment Option. However, if you transfer funds from another Investment Option into the Amgen Common Stock fund, your funds will immediately purchase shares of Amgen Common Stock and you will not be subject to a three (3) day settlement period.

To protect Participants who invest on a long-term basis, the Plan has repurchase restrictions where Participants are prohibited from transferring funds into certain Asset Classes for 30 days after the date the funds were transferred out of that same Asset Class. The restriction applies to the following Asset Classes:

Fixed Income Index

Fixed Income

Inflation Protection

High Yield

Small-Mid Cap Value

Small-Mid Cap Index

Small-Mid Cap Growth

International Index

International Value

International Growth

Emerging Markets-Equity

With a repurchase restriction, you can transfer funds out of an Asset Class at any time. However, if you do transfer out, then you must wait at least 30 days before you can transfer into that Asset Class again.

The repurchase restriction will not apply if transfers are made as the result of portfolio rebalancing by Advice Access. The repurchase restriction will not affect your ability to make loan repayments, transact withdrawals from your Plan Account, make investment exchanges out of the Asset Class, or continue to make payroll contributions.

Plan participants may not transfer funds from the Capital Preservation Asset Class directly into Self-Direct Brokerage. If you wish to transfer funds from the Capital Preservation Asset Class into Self-Direct Brokerage, you must first move those funds into a different Plan investment option for at least 90 days. After 90 days, you are free to move those funds into Self-Direct Brokerage and purchase other investments. Note that this trading restriction does not affect your right to move funds from any other investment option directly into Self-Direct Brokerage.

In addition, all elections and transfers may be subject to such additional rules established

by the Fiduciary Committee or by the bank, trust company, mutual fund or investment company maintaining the Asset Classes, including, without limitation, rules restricting the availability of transfers and setting minimum or maximum amounts that may be transferred and when transfers

are permitted.

Pursuant to the Company’s Insider Trading Policy, you are not permitted to change the percentage of Compensation you elected to invest in the Plan through ongoing payroll contributions if you are invested (or intend to invest) in the Amgen Common Stock fund nor are you permitted to make transfers of an existing account balance out of (or into) the Amgen Common Stock fund to (or from) another Investment Option while you are in possession of material non-public information about the Amgen Companies at that time. All officers of the Amgen Companies are also required to pre-clear transactions in Amgen Common Stock, including certain changes and elections involving the Amgen Common Stock fund. Please see Question 36 for details.

If you are an officer of the Amgen Companies who is subject to Section 16 of the Exchange Act, see Question 58 for more information.

36. Does the Company’s Insider Trading Policy apply to investment in Amgen Common Stock under the Plan?

Yes. Generally, pursuant to the Company’s Insider Trading Policy, if you are aware of material non-public information about the Amgen Companies, you should not sell or buy shares of Amgen Common Stock before dissemination of the information to the public. The Insider Trading Policy does not apply to purchases of Amgen Common Stock held in your Plan Account as part of a systematic investment plan that has not been altered. However, the Insider Trading Policy does apply to initiation or alterations of your investment elections involving Amgen Common Stock in your investment plan or sales of the shares of Amgen Common Stock acquired pursuant to the Plan. This means that the Insider Trading Policy does not apply to purchases of Amgen Common Stock after you have made your investment election regarding ongoing payroll contributions in Amgen Common Stock and you have not subsequently altered your investment election with respect to Amgen Common Stock. This also means that you may not conduct the following transactions under the Plan involving Amgen Common Stock if you are in possession of material non-public information about the Amgen Companies at that time:

(a) transfer an existing account balance out of the Amgen Common Stock fund into another Investment Option;

(b) borrow money against your Plan account, if the loan will result in a liquidation of some or all of your Amgen Common Stock fund balance;

(c) initiate ongoing payroll contributions or change the percentage of Compensation you elected to invest in the Plan through your ongoing payroll contributions if you are invested (or intend to invest) in the Amgen Common Stock fund; or

(d) modify your election to reinvest Amgen stock dividends.

Basically, “material non-public information” is information that is both very important (material) and not available to the general public through press releases, newspaper articles or other widely disseminated media (non-public). Whether information is material will depend on

the specific circumstances. A general test is whether the information is of such a nature that a reasonable investor would think it important in deciding whether to buy, sell or hold Amgen Common Stock. Certainly, if the information would affect your decision whether to buy or sell if you were contemplating a transaction, it would probably have the same effect on others. Material information may include among other things, sales or earnings results or projections, clinical trial results, product approvals and other regulatory actions. You should review the Company’s Insider Trading Policy for more information. You can access the Company’s Insider Trading Policy on the Company’s internal website under the Compliance and Policies tab.

If you are contemplating any of the transactions enumerated in (a), (b), (c) or (d) above and think you might have “material non-public information,” you should review and comply with the Company’s Insider Trading Policy. If, following your review of the Company’s Insider Trading Policy, you determine that the information is in fact material non-public information, you must wait until after the information has been made public before conducting any of the transactions listed in (a), (b), (c) or (d) above. If you have questions on the application of the Company’s Insider Trading Policy, you should get in touch with the Company contact indicated in the Insider Trading Policy.

In addition, if you are an officer of the Amgen Companies, you are required to pre-clear all transactions in Amgen Common Stock with the Law Department, including the transactions enumerated in (a), (b), (c) or (d) above, as well as your initial investment in Amgen Common Stock within the Plan. If you are an officer who is subject to Section 16 of the Securities Exchange Act of 1934, see Question 58 for more information.

37. How are the shares in Amgen Common Stock voted?

If you elect to invest part of your Plan Account in the Amgen Common Stock fund, you have the right to vote the shares of Amgen Common Stock held in your Plan Account. Your voting instructions will be made to the Trustee in the format (i.e., electronic, phone system, etc.) communicated to you by the Trustee. The Trustee will vote the Amgen Common Stock in your Plan Account in confidence and in accordance with your instructions. If you do not instruct the Trustee on how to vote the Amgen Common Stock held in your Plan Account, the Trustee will vote the Amgen Common Stock in the same proportion as the Amgen Common Stock for which the Trustee does receive instructions.

If there is an offer to acquire all or part of the Amgen Common Stock, including the shares held in your Plan Account, you may direct the Trustee to tender or not tender the shares held in your Plan Account. If the Trustee does not receive instructions from you to tender or not tender the Amgen Common Stock, the Trustee will not tender the Amgen Common Stock held in your Plan Account, except as required by law. If you are an officer of the Company who is subject to Section 16 of the Exchange Act, see Question 58 for more information.

Telephone and Internet Procedures

38. How do I enroll, request or initiate a transaction in my Plan Account, such as a change in investment election or a transfer of existing funds?

With Merrill Lynch, you have access to a full range of toll-free telephone and on-line services. By contacting Merrill Lynch or Merrill Lynch Benefits OnLine service, you will be able to elect not to participate in the Plan or to enroll in the Plan at a later time, get account balance and Investment Option information, transfer existing balances from one Investment Option to another, redirect future contributions, change your contribution percentage, initiate a loan, request an in-service or hardship withdrawal, or elect a distribution. No paperwork is necessary to enroll, to transfer account balances, or to redirect your future contributions. Some paperwork will be required for the completion of hardship withdrawals and distributions. You must elect a Beneficiary on-line at Merrill Lynch Benefits OnLine and complete a written form provided by the Plan administrator to authorize payroll deductions.

A confirmation of your transaction will be mailed (or emailed if you choose electronic delivery) to you within three days after you initiate any action on your Plan Account with Merrill Lynch. You will be able to print a confirmation within a few days of making transactions on the Merrill Lynch Benefits Online service.

39. How do I contact Merrill Lynch or access the Merrill Lynch Benefits OnLine services?

Merrill Lynch can be reached toll-free and is available virtually seven days a week, 24 hours a day for automated services (there is a short period each week for system maintenance). You may reach a service representative during the hours of 6:00 a.m. to 5:30 p.m. Pacific Time or 9:00 a.m. to 8:30 p.m. Eastern Time. The toll-free number for Merrill Lynch is 1-800-97-AMGEN.

Merrill Lynch Benefits OnLine is an on-line Internet service. Benefits OnLine is best viewed with Microsoft® Internet Explorer 6.0 or higher or Firefox. You will also need your Merrill Lynch PIN (personal identification number). If you have not established a PIN, or have forgotten your PIN, you may establish it on-line or you may contact Merrill Lynch 1-800-97-AMGEN. You may access your Plan Account at www.benefits.ml.com, seven days a week, 24 hours a day (except during system maintenance).

Please keep in mind that the password you use to access Merrill Lynch Benefits OnLine can be used to access your personal account information and other accounts held with Merrill Lynch, so you should be sure to maintain the confidentiality of that information. Once you are no longer employed with Amgen, you should verify that your email address and permanent address on file are up to date, especially if you recently moved, were divorced or separated from your spouse. This is important to protect your privacy because Plan communications, including but not limited to, account statements, legally-required communications, confirmation statements and temporary password requests, may be mailed to the permanent address on file at the Plan.

Miscellaneous Provisions

40. What are the circumstances under which I can lose all or a portion of my benefits under the Plan?

Your Plan benefit may be lost or substantially reduced in the following situations:

The value of your Plan Account could decline significantly due to your investment selections and general market conditions.

If you fail to keep Merrill Lynch and the Company informed of your address, you may never receive your benefit. Therefore, you should always keep Merrill Lynch and the Company advised of your current address.

The law may require payment of all or a portion of your benefits to an alternate payee pursuant to a Qualified Domestic Relations Order relating to child support, alimony or marital or community property rights (see Question 41).

41. May benefits be assigned or transferred?

Under the Plan and federal law, your Plan Account and your rights to Plan benefits generally cannot be assigned or transferred. This prevents voluntary and involuntary assignments of your Plan Account for the benefit of creditors, garnishments, attachments and similar procedures. However, a court may award all or a portion of your Plan Account to your spouse, child(ren) or other dependents under a Qualified Domestic Relations Order. Additionally, the Plan administrator may elect, on a uniform and nondiscriminatory basis, to charge any expenses related to a Qualified Domestic Relations Order to a Participant’s Plan Account. A copy of the Plan’s Qualified Domestic Relations Order procedures, which contain additional information about the administration of Qualified Domestic Relations Orders, may be requested by contacting Ceridian Benefits Services (877) MER-QDRO or 637-7376.

42. How do I make a claim for benefits?

Your submission of a written benefit election form or your phone call requesting benefits to Merrill Lynch (see Question 28) will constitute a claim for benefits. In addition, you or your Beneficiary or authorized representative may submit a written claim for benefits to: Amgen Retirement and Savings Plan Administrator, c/o Benefits Department, One Amgen Center Drive, Mailstop 21-A-2, Thousand Oaks, CA 91320-1799. All claims must be made within 180 days of the event that gives rise to your claim for benefits, including, without limitation, your receipt of a benefit statement that is labeled as a final determination of your benefits as of a certain date or states you may file a claim for benefits within 180 days. If you do not make this claim within 180 days, you are forfeiting your right to bring an arbitration or civil action for benefits under the Plan.

If, after review, the claim is approved, your benefits will be distributed in the manner elected in the claim. If the claim is denied in whole or in part, the Company will notify you (or your Beneficiary or authorized representative, as the case may be) in writing within 90 days after

receiving the claim. In this event, the Company will give you the specific reasons for its decision and references to the Plan provisions on which the decision is based. The Company will also advise you of any additional information or material you must submit to prove your claim or describe the process for appealing a denied claim (see Question 43).

While the Company ordinarily has 90 days after receipt of your claim to notify you, there may be times when the Company requires more time to process your claim. Should this situation occur, you will be notified within the initial 90-day period that the Company requires an extension of time to make its decision. However, the extension of time will not exceed an additional 90 days from the end of the initial 90-day period.

43. How do I appeal a denial of a claim for benefits?

Should a claim for benefits be denied in whole or in part, you may appeal the denial by submitting a written request for review to the Company within 90 days after receiving the denial to: Amgen Inc., Attention: Amgen Retirement and Savings Plan Administrator, c/o Benefits Department, One Amgen Center Drive, Mailstop 21-A-2, Thousand Oaks, CA, 91320-1799. The written request should set forth all the grounds on which it is based. You also may review pertinent Plan documents and submit issues and comments in writing to the Company. The Company will review the appeal, and will notify you of its decision in writing, ordinarily within 60 days, but not later than 120 days after receipt of your appeal. The Company’s notice will give the reasons for its decision and references to Plan provisions on which the decision is based. If you have entered into an arbitration agreement with a Participating Company, the provisions of that arbitration agreement will govern following your compliance with the procedures summarized in Questions 42 and 43 and shall be the sole and exclusive remedy following compliance with these procedures.

No legal or equitable action for benefits under the Plan shall be brought unless and until you have (a) submitted a written application for benefits; (b) been notified that the application is denied; (c) filed a written request for a review of the application; and (d) been notified in writing or electronically that the Company has affirmed the denial of the application.

An arbitration or civil action for benefits under the Plan must be brought within one year of the notification that the denial of your benefits was affirmed on review, or the event that gave rise to your claim for benefits (including, without limitation, your receipt of a benefit statement that is labeled as a final determination of your benefits as of a certain date or states you may file a claim for benefits within 180 days), whichever is later. You should be aware that this one-year period is shorter than the period that would otherwise have been provided by law. If no arbitration agreement is applicable, any legal or equitable action for benefits under the Plan must be brought in the United States District Court for the Central District of California.

44. Can the Plan be changed or terminated?

The Company expects to maintain the Plan indefinitely; however, it reserves the right to amend or terminate the Plan at any time and for any reason, in its sole discretion, by action of the Board of Directors or a committee or person(s) acting under a Board delegation. No amendment may take away from you any vested interest in your Plan Account. Such Plan Accounts will be

distributed to Participants as soon as practicable after any Plan termination.

Federal Tax Consequences

The following information addresses questions you may have about the tax consequences of participating in the Plan. However, you should understand that because the tax laws are complex and highly technical, this information is not complete in all respects, and does not address state or local tax laws or the application of foreign or United States tax laws if you live outside the United States. Furthermore, because tax laws and regulations are constantly changing, and because interpretations of these laws and regulations by the courts and tax authorities can change the way the laws and regulations apply to you, this information may need to be updated after the date of issuance of this Summary Plan Description to you. THEREFORE, YOU SHOULD CONSULT YOUR OWN TAX ADVISOR CONCERNING ALL TAX CONSEQUENCES (State, Local, Federal) OF PARTICIPATION IN THE PLAN, INCLUDING THE EFFECTS OF DISTRIBUTIONS, WITHDRAWALS, LOANS OR ANY OTHER PAYMENTS MADE TO YOU FROM THE PLAN.

45. Am I currently taxed on contributions to my Plan Account under the Plan?

Pre-tax Elected Contributions, Rollover Contributions, and Company Contributions. Generally, no. The Plan is designed to qualify for special tax treatment under Sections 401(a) and 401(k) of the Code. As long as the Plan continues to qualify for such treatment, as a Participant, you will be able to defer federal income taxes on the Pre-tax Elected Contributions, Rollover Contributions, and Company Contributions that are contributed to your Plan Account. However, see the discussion in Question 49 concerning returned contributions.

Roth Elective Contributions and After-tax Elected Contributions. Roth Elective Contributions and After-tax Elected Contributions are made on an after-tax basis. The Roth Elective Contributions and After-tax Elected Contributions that you make do not reduce your gross income for federal income tax purposes and are reported as taxable wages on IRS Form W-2.

46. Am I currently taxed on the investment earnings on my Plan Account?

No. You will be able to defer federal income taxes on the investment earnings or gains on the amounts invested in your Plan Account.

47. How does tax deferral under the Plan help me save for retirement?

Pre-tax Elected Contributions and Company Contributions. In order to save for retirement without the help of the Plan (or a similarly qualified plan), you would save and invest money which you had earned and which had already been subject to taxation. For example, if the federal income tax rate you pay on your salary is 28%, then for every $100 that you earn, the federal government will be entitled to $28 in income taxes in the same year that you earn it, leaving you with $72 to invest for your retirement if you choose. By saving through the Plan by making Pre-tax Elected Contributions, $100 of earnings can be contributed to the Plan prior to the payment of any federal income taxes on that amount before it is invested. As a result, for the same $100 of earnings, you

will be able to invest $100 instead of $72 in your retirement savings.

With more to invest, the investment income on your retirement savings will be greater (assuming that you would invest either amount the same way and that such investment results in income or gain and not a loss). In addition, the federal income taxes on any earnings on your investments in the Plan will be deferred. Typically, earnings on investments outside of the Plan are subject to taxes in the same year that they are realized. By deferring taxes on the earnings on your Plan investments, you will have more earnings to reinvest in the Plan’s investments than if such earnings were subject to immediate taxation. Because you defer taxes on the portion of your salary being invested in your Plan Account, on the earnings from such investments and on the earnings from the reinvestment of such earnings, your Plan Account will grow faster than if the same investments were made without tax deferral (assuming your investments result in income or gain and not loss).

Roth Elective Contributions and After-tax Contributions. As discussed above, Roth Elective Contributions and After-tax Contributions are made on an after-tax basis. Unlike Pre-tax Elected Contributions, there is no initial tax deferral for your contributions. However, any earnings on your investments in the Plan that are attributable to Roth Elective Contributions and After-tax Contributions are not taxed while held in your Plan Account. By deferring taxes on the earnings on your Plan investments, you will have more earnings to reinvest in the Plan’s investments than if such earnings were subject to immediate taxation. In addition, a distribution or withdrawal of your Roth Elective Contributions account that is a Qualified Distribution is distributed to you tax-free for federal income tax purposes.

To summarize, Pre-tax Elected Contributions and Company Contributions provide you an upfront tax benefit but are fully taxable to you when withdrawn or distributed. Roth Elective Contributions are made on an after-tax basis but are tax-free when withdrawn or distributed (if the withdrawal or distribution is a Qualified Distribution – see “Qualified Distribution of Roth Elective Contributions” in the Definition Section of this SPD). After-tax Elected Contributions are made on an after-tax basis and the contributions (but not earnings) are tax-free when distributed. All types of contributions grow tax free while they remain in your Plan Account. It is up to you to decide which method of retirement saving – Pre-tax Elected Contributions, Roth Elective Contributions or After-tax Elected Contributions (or combination of these three types), is best for you.

48. Will I ever pay taxes on my Pre-tax Elected Contributions and Company Contributions and earnings and on the earnings on my After-tax Elected Contributions?

Yes. Tax deferral is not the same as never having to pay taxes. It just means that you are allowed to pay the taxes on Pre-tax Elected Contributions and Company Contributions (and earnings) and earnings on your After-tax Elected Contributions later and, in the meantime, invest the money you would have otherwise used to pay taxes (see Question 47). As to when you will be taxed on these Plan amounts, see Question 50.

49. Is it possible I will have to pay tax currently on contributions to my Plan Account?

Under certain circumstances, if the total of your Pre-tax Elected Contributions, Roth Elective Contributions and any other elective contributions in any calendar year exceeds the maximum dollar limit specified in the Code for such contributions (for 2017, $18,000 plus an additional $6,000 if you are eligible for Catch-up Contributions), the excess amount will be subject to tax in the taxable year in which such amount was deferred (see Question 19). This could happen, for example, if you changed jobs during the year and also made elective contributions to another employer’s plan during that year. The Plan provides a procedure for the return of these excess amounts within a specified time (see Question 19).

50. When will I be taxed on amounts invested in my Plan Account?

Pre-tax Elected Contributions and Company Contributions. Ordinarily, you will be taxed on distributions or withdrawals of Pre-tax Elected Contributions and Company Contributions from your Plan Account in the year of distribution. The tax due will be calculated at the rates on ordinary income then in effect, which may be higher or lower than the tax rates on ordinary income in the year the contributions were made. In addition, since you will be taxed on distributions and not directly on the results of your investments, you will not be entitled to any preferential capital gain treatment (if any such preferential treatment then exists) on distributions of any amounts that resulted from capital gains realized on investments in your Plan Account.

In certain circumstances, you may qualify for taxation at a special rate if you receive the entire value of your Plan Account in a lump sum distribution and your distribution includes shares of Amgen Common Stock (see Question 52).

Also, penalty taxes in addition to ordinary income taxes may be imposed on certain early distributions or withdrawals from your Plan Account (see Question 53).

Roth Elective Contributions. You will not be taxed on distributions or withdrawals of Roth Elective Contributions from your Plan Account if the distribution or withdrawal is a Qualified Distribution (See Question 55).

If the distribution or withdrawal is not a Qualified Distribution, you will be taxed on the earnings on your Roth Elective Contributions but not the contributions themselves. The tax due will be calculated at the rates on ordinary income then in effect, which may be higher or lower than the current tax rates. Also penalty taxes in addition to ordinary income taxes may be imposed on the taxable portion of any early distribution or withdrawal of Roth Elective Contributions from your Plan Account (see Question 53).

After-tax Elected Contributions. You will not be taxed on distributions or withdrawals of your After-tax Elected Contributions from your Plan Account. You will be taxed on the earnings on your After-tax Elected Contributions. The tax due will be calculated at the rates on ordinary income then in effect, which may be higher or lower than the current tax rates. Also penalty taxes in addition to ordinary income taxes may be imposed on the taxable portion of any early distribution or withdrawal of earnings on your After-tax Elected Contributions from your Plan

Account (see Question 53).

51. If I elect to receive distributions from my Plan Account in installments, how will I be taxed?

Pre-tax Elected Contributions and Company Contributions. Generally, if your Pre-tax Elected Contributions and Company Contributions account balances are distributed to you (or your Beneficiary) in cash installments (see Question 25 and 26), the entire amount of each payment is taxed at ordinary income rates in the year received. However, installments paid over a period of less than 10 years are eligible for rollover (see Question 54.)

Roth Elective Contributions. If your Roth Elective Contributions are distributed to you (or your Beneficiary) in cash installments (see Question 25 and 26) and the distributions meet the requirements for Qualified Distributions of Roth Elective Contributions, the entire amount of each installment is distributed to you tax free.

If your Roth Elective Contributions are distributed to you (or your Beneficiary) in cash installments (see Question 25 and 26) but the distributions do not meet the requirements for Qualified Distributions of Roth Elective Contributions, any earnings on your Roth Elective Contributions will be allocated pro rata to each installment and taxed to you at ordinary income rates in the year received. The portion of an installment distribution that is a pro rata distribution of your Roth Elective Contributions is distributed to you tax free.

Note: If your Plan Account balance contains Roth Elective Contributions in addition to Pre-Tax Elected Contributions, you will have an opportunity to designate all or a portion of the installment as a distribution from your Roth Elective Contribution account. If you do not make such a designation, the installments will be paid first from your Pre-Tax Elected Contribution account and then your Roth Elective Contribution account.

After-tax Elected Contributions. If your After-tax Elected Contributions are distributed to you (or your Beneficiary) in cash installments (see Question 25 and 26), any earnings on your After-tax Elected Contributions will be allocated pro rata to each installment and taxed to you at ordinary rates in the year received. The portion of an installment distribution that is a pro rata distribution of your After-tax Elected Contributions is distributed to you tax free.

52. How will I be taxed if I elect to receive the distribution of my Plan Account in a lump sum distribution?

Pre-tax Elected Contributions and Company Contributions. Generally, if your Plan Account balance is to be distributed to you (or your Beneficiary) in a cash lump sum payment, all of your Pre-tax Elected Contributions and Company Contributions are taxed at ordinary income tax rates in the year received unless you roll your Plan Account over. However, if your lump sum distribution includes shares of Amgen Common Stock, federal income tax consequences of a lump sum distribution from the Plan can vary substantially.

If shares of Amgen Common Stock are included as part of a lump sum distribution (as defined under IRS rules) and if such shares were purchased by the Plan for your Plan Account at

a cost that is less than their fair market value at the time of distribution, the amount of such appreciation in the shares over their cost to the Plan (referred to as “net unrealized appreciation” or “NUA”) will not be taxable to you at the time of distribution. In this case, the taxable amount of your lump sum distribution would equal the value of the cash distributed to you plus an amount equal to the Plan’s cost for the shares of Amgen Common Stock distributed and would not include the net unrealized appreciation (unless you make an election to have the NUA taxed at distribution). Instead, such net unrealized appreciation would be subject to tax at the time you sell the shares that were distributed to you. Upon the sale of the distributed shares, the net unrealized appreciation, plus any additional appreciation or minus any depreciation in the value of the shares since the time of distribution, generally will be taxed as capital gain.

The tax rules governing net unrealized appreciation are complex, and you should consult with your tax advisor regarding the effects of receiving any shares of Amgen Common Stock in a distribution from the Plan.

Roth Elective Contributions. If your Roth Elective Contributions are distributed to you (or your Beneficiary) in a lump sum payment and the distribution meets the requirements for a Qualified Distribution of Roth Elective Contributions (see Question 55), your Roth Elective Contributions are distributed to you tax free. If shares of Amgen Common Stock are included as part of the lump sum distribution (as defined under IRS rules), your basis in the shares for purposes of determining future capital gain or loss on the shares will be equal to their fair market value at the time of distribution.

If your Roth Elective Contributions are distributed to you (or your Beneficiary) in a lump sum payment but the distribution does not meet the requirements for a Qualified Distribution of Roth Elective Contributions (see Question 55), the portion of the lump sum distribution that consists of the earnings on your Roth Elective Contributions will be taxed to you at the ordinary rates in effect in the year distributed. The portion of the lump sum payment that consists of your Roth Elective Contributions is distributed to you tax-free. If shares of Amgen Common Stock are included as part of the lump sum distribution (as defined under IRS rules), and if such shares were purchased by the Plan for your Plan Account at a cost that is less than their fair market value at the time of distribution, to the extent the shares are taxable, the rules described above for taking into account the net unrealized appreciation in the shares would apply.

After-tax Elected Contributions. If your After-tax Elected Contributions are distributed to you (or your Beneficiary) in a lump sum payment, the portion of the lump sum distribution that consists of the earnings on your After-tax Elected Contributions will be taxed to you at the ordinary rates in effect in the year distributed. The portion of the lump sum payment that consists of your After-tax Elected Contributions is distributed to you tax free. If shares of Amgen Common Stock are included as part of the lump sum distribution (as defined under IRS rules), and if such shares were purchased by the Plan for your Plan Account at a cost that is less than their fair market value at the time of distribution, to the extent the shares are taxable, the rules described above for taking into account the net unrealized appreciation in the shares would apply.

53. Will I have to pay any additional taxes if I receive a distribution or make a withdrawal

from my Plan Account before I reach age 59½?

Yes, unless the distribution or withdrawal is exempt under certain criteria. Additional federal income tax equal to 10% of the taxable portion of the distribution or withdrawal is imposed on taxable distributions or withdrawals from the Plan that you receive prior to attaining age 59½ unless the distribution or withdrawal is received:

on account of the termination of your employment by the Participating Companies after you reach age 55,

on account of your disability or death,

after your severance from employment as part of a series of substantially equal periodic payments (not less frequently than annually) made over your lifetime (or life expectancy) or over the joint lifetimes (or joint life expectancies) of you and your designated Beneficiary,

for payment of medical expenses but only to the extent the distribution does not exceed the amount that is deductible as a medical expense for federal income tax purposes, or

as payment to an alternate payee under a Qualified Domestic Relations Order.

In addition, any cash out of dividends paid to you with respect to Amgen Common Stock attributable to your Plan Account and pursuant to your election is not subject to the additional penalty tax on early distributions.

Any amounts rolled over to an IRA or to a subsequent employer’s qualified plan that accepts Rollover Contributions through a Qualified Rollover are not included in taxable income and will not be subject in that year to the additional penalty tax on early distributions (see Question 54). However, such amounts may be subject to the penalty tax on early distributions when subsequently distributed from the IRA or employer plan into which they had been contributed as a Rollover Contribution.

54. Can I continue to defer taxes by rolling over certain distributions into an IRA or another qualified plan that accepts rollovers?

You may avoid current taxation of the taxable amount if the distribution of such taxable amount qualifies as an “Eligible Rollover Distribution.” To complete an “Eligible Rollover Distribution,” you should roll over such portion into any qualified IRA or another qualified employer retirement plan that accepts rollover contributions. Additional restrictions may apply to the rollover of your After-tax Elected Contributions. Many, but not all, distributions are eligible to be rolled over, and as such, qualify as an “Eligible Rollover Distribution.” Any distribution that is part of a series of substantially equal periodic payments made over life expectancy or over a specified period of 10 or more years is ineligible to be rolled over and cannot be an “Eligible Rollover Distribution.” In addition, any cash dividends paid to you with respect to Amgen Common Stock attributable to your Plan Account and pursuant to your election are ineligible to be rolled over. Most other distributions to you, such as a single sum distribution, are eligible to be rolled over. You should note that most withdrawals from the Plan are considered “Eligible Rollover Distributions.”

Contact Merrill Lynch or access Merrill Lynch Benefits OnLine service for further instruction when you are ready to rollover funds from or to your Plan Account. Please also contact Merrill Lynch for additional information regarding non-spousal Beneficiary rollovers.

Even if you plan to roll over an Eligible Rollover Distribution, unless you elect to directly roll over the distribution to a qualified IRA or another qualified employer retirement plan, the Company is required to withhold federal income taxes from the taxable amount distributed at a rate of twenty percent (20%). Thus, you will receive eighty percent (80%) of your taxable distribution due to the mandatory federal income tax withholding.

A direct rollover is the only way to avoid the otherwise mandatory twenty percent (20%) withholding on any taxable amount distributed. If you make a regular rollover of a distribution that is taxable in whole or in part, tax will be withheld even though you will not owe any taxes on the distribution (if you complete the rollover in a timely manner). If you wish to make a regular rollover of 100% of your taxable distribution to a qualified IRA or another qualified employer retirement plan, you must make up the remaining twenty percent (20%) that was withheld from your taxable distribution from other sources. When you file your individual income tax return for the calendar year in which you receive the distribution, you may get a refund of all or part of the twenty percent (20%), which was withheld, from your distribution, depending on the amount of income tax that you owe that year.

Important Note: A direct rollover of a distribution that consists of or includes Roth Elective Contributions must be made in the form of a single sum cash distribution.

55. Do special rules apply to distributions of Roth Elective Contributions from the Plan?

The taxation of a distribution from the Plan of amounts attributable to Roth Elective Contributions depends on whether the distribution is a Qualified Distribution. A Qualified Distribution is not includible in your gross income. Please see “Qualified Distribution of Roth Elective Contributions” in the Definition Section of this SPD for additional details.

If you receive a distribution of your Roth Elective Contributions in a single sum but the distribution is not a Qualified Distribution, the distribution will be taxable to you at ordinary rates in the year distributed to the extent it consists of investment earnings, but it is not taxable to you to the extent it consists of Roth Elective Contributions. You may avoid immediate taxation on the taxable portion of your distribution by rolling over the distribution (see Question 54).

If you receive a distribution of your Roth Elective Contributions in installments but the distributions are not Qualified Distributions, each installment will consist of a pro rata portion of your contributions, which are not taxable to you when distributed, and a pro rata portion of investment earnings, which will be taxable to you at ordinary rates in the year distributed. You may avoid immediate taxation on the taxable portion of your installment distributions by rolling over the distributions if they qualify (see Question 54).

Other withholding rules still apply. If you receive a distribution of amounts attributable to Roth Elective Contributions before you reach age 59½ the taxable portion (if any) of the

distribution may be subject to the 10% early payment penalty described in this section.

56. Will my distributions be subject to any withholding?

Generally, federal income taxes are withheld from the taxable portion of any distribution from the Plan. The amount of withholding depends on the manner of distribution. Periodic distributions (installments paid over a 10-year period) are generally subject to withholding for federal income taxes the same as if they were wages. Eligible Rollover Distributions generally are subject to withholding for federal income taxes at a rate of 20 percent (see Question 54).

57. What are the tax consequences of loans from my Plan Account?

You are not taxable on a Plan loan when you receive the loan. The deductibility of interest payments on loans from the Plan is restricted by the Code. No interest deduction is available for Plan loan repayments, even though you pay interest with your after-tax dollars and will have to pay tax again when your Plan Accounts are distributed.

In general, a loan that is not repaid according to the terms of the promissory note may be treated as a distribution after default, in which case it will be subject to income tax and any penalty taxes that may apply to a distribution.

Section 16 Reporting Persons

58. If I am an officer covered by Section 16 of the Exchange Act who wishes to invest Plan contributions in Amgen Common Stock, will I be subject to Section 16 with respect to shares of Amgen Common Stock acquired in the Plan?

Yes. However, provided you comply with certain rules, you will be able to report transactions in Amgen Common Stock under the Plan without liability under the short swing profit disgorgement provisions of Section 16(b) of the Securities Exchange Act of 1934. The rules governing the reporting and liability obligations under Section 16 are complex. If you are subject to Section 16, you should consult with the Legal Department each time before you:

elect to invest contributions in the Amgen Common Stock fund,

transfer invested amounts out of the Amgen Common Stock fund, or

receive distributions or loans or make withdrawals either out of the portion of your Plan Account invested in Amgen Common Stock or in the form of Amgen Common Stock.

Such elections have both prospective and retroactive ramifications with respect to your reporting and liability obligations under Section 16. In addition, pursuant to the Company’s Insider Trading Policy, if you are subject to Section 16, you are generally prohibited from, directly or indirectly, purchasing, selling or otherwise acquiring or transferring Amgen Common Stock acquired under the Plan, during a “pension plan blackout period” as notified by the Company.

Additional Plan Information

Name of Plan Amgen Retirement and Savings Plan

Employer Sponsoring Plan Amgen Inc. c/o Benefits Department, Mailstop 21-A-2 One Amgen Center Drive Thousand Oaks, CA 91320-1799

Employer Identification Number 95-3540776

Plan Number 001

Plan Year January 1 through December 31

Plan Administrator Amgen Inc. c/o Benefits Department, Mailstop 21-A-2 One Amgen Center Drive Thousand Oaks, CA 91320-1799 (805) 447-1000

Plan Trustees Merrill Lynch Bank & Trust, Co., FSB 1300 Merrill Lynch Drive, 3rd Floor Pennington, New Jersey The Northern Trust Company, NA 50 S. LaSalle Street Chicago, IL 60603

Custodians Merrill Lynch, Pierce, Fenner & Smith Incorporated 1300 Merrill Lynch Drive, 3rd Floor Pennington, New Jersey The Northern Trust Company, NA 50 S. LaSalle Street Chicago, IL 60603

Agent for Service of Legal Process Jonathan P. Graham Senior Vice President, General Counsel and Secretary Amgen Inc. One Amgen Center Drive Thousand Oaks, CA 91320-1799

Service of legal process also may be made upon the Plan Trustee or upon the Plan Administrator.

Type of Plan This Plan is a profit sharing plan with a cash or deferred arrangement, except for an employee stock ownership component comprised of the Amgen Common Stock fund, which shall be considered a stock bonus plan. Benefits under the Plan are not insured by the Pension Benefit Guaranty Corporation as that program does not apply to this type of plan.

If you would like additional information about the Plan, please contact Human Resources at the address and telephone number set forth above for the Plan administrator.

Important Notice of Participants’ Rights

The Plan is subject to Title I of ERISA. Title I provides generally for the protection of employee benefit rights and includes requirements with respect to the Plan’s reporting and disclosure obligations, the conditions for eligibility and participation under the Plan, the vesting of Plan Accounts and the responsibilities of the Plan’s fiduciaries. Title I also includes provisions for the administration and enforcement of its protective provisions.

As a Participant in the Plan, you are entitled to certain rights and protections under ERISA. ERISA provides that all Plan Participants shall be entitled to:

Examine, without charge, at the Company’s office, all documents governing the Plan and a copy of the latest annual report (Form 5500 Series) filed by the Plan with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration.

Obtain, upon written request to the Plan administrator, copies of documents governing operation of the Plan including copies of the latest annual report (Form 5500) and updated Summary Plan Description (SPD). The Company may assess a reasonable charge for the copies.

Receive a summary of the Plan’s annual financial report. The Company is required by law to furnish each Participant with a copy of this summary annual report.

Obtain a statement telling you the value of your total Plan Account which is the current amount available to you at Normal Retirement Age (age 65) if you do not commence benefit payments sooner. If you do not have a right to a benefit, the statement will tell you how many more years you have to work to have a right to a benefit. This statement must be requested in writing and is not required to be given more than once a year. The Plan must provide the statement free of charge.

In addition to creating rights for Plan Participants, ERISA imposes duties upon the people who are responsible for the operation of the Plan. The people who operate your Plan, called “fiduciaries” of the Plan, have a duty to do so prudently and in the interest of you and other Plan Participants and Beneficiaries.

No one, including your employer or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a benefit or exercising your rights under ERISA.

If your claim for a benefit is denied or ignored, in whole or in part, you have a right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules.

Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request a copy of plan documents or the latest annual reports from the Company and do not receive them within 30 days, you may file suit in a Federal court. In such a case, the court may require the Company to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the Company.

If you have a claim for benefits that is denied or ignored, in whole or in part, you may file suit in a state or Federal court. In addition, if you disagree with the Company’s decision or lack thereof concerning the qualified status of a domestic relations order, you may file suit in Federal court. If it should happen that Plan fiduciaries misuse the Plan’s money, or if you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court unless you have entered into a contract specifying arbitration as the forum for resolving disputes. The court will decide who should pay court costs and legal fees. If you are successful, the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is frivolous.

If you have any questions about the Plan, you should contact Human Resources. If you have any questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Company, you should contact the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration.

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