Company: ABBV
Filing Date: 2025-06-13
Form Type: 11-K
Source: 0001104659-25-059360
Chunk: 17

Company: AbbVie Inc.
Filing Date: 2025-06-13
Form: 11-K
Chunk 17
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01(d) of the Puerto Rico Internal Revenue Code of 2011 (“Puerto Rico Code”), as amended. All
the contributions are subject to certain limitations of the Puerto Rico Code. Participant contributions may be invested in any of the
investment options offered by the Plan.

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AbbVie Puerto Rico Savings Plan

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2024 and 2023

NOTE A - DESCRIPTION OF THE PLAN - Continued

Contributions and Vesting - Continued

Eligible employees who are not covered by
ASP+ and who elect to participate in the Plan may contribute from 2% to 50% of their eligible earnings to the Trust. Eligible
employees covered by ASP+ and who elect to participate in the Plan may contribute from 1% to 50% of their eligible earnings to the
Trust. Following the 30-day period from an employee’s hire or eligibility date, employees covered by ASP+ who have not
affirmatively enrolled in the Plan and elected a specified contribution type and percentage or who have not opted out of automatic
contributions, will be automatically enrolled in the Plan to contribute 3% of their pre-tax earnings.

Employer matching contributions to the Plan are
made each payroll period based on the participating employees’ eligible earnings. Catch-up contributions are not eligible for matching
contributions. The amount of the employer matching contribution for participants not covered by ASP+ is determined by the Board of Directors
of AbbVie Ltd. and for the year ended December 31, 2024, was 5% of the participant’s eligible earnings if the employee elected to
contribute at least 2% to the Plan. For participants covered by ASP+, contributions are matched dollar for dollar up to 6% of the participant’s
eligible earnings.

In addition, ASP+ participants receive an annual
employer contribution if the ASP+ participant is employed by the Company on the last day of the Plan year or separated from employment
during the Plan year due to death or qualifying retirement. The annual employer contribution is equal to a percentage of eligible compensation
based on each eligible ASP+ participant’s age plus years of credited service according to the following schedule:

| Age + Years of Credited Service (whole years) |     | Contribution Percentage |   |   |
| Less than 30                                  |     |                         | 2 | % |
| 30-39                                         |     |