Company: ABBV
Filing Date: 2025-06-13
Form Type: 11-K
Source: 0001104659-25-059360
Chunk: 20

Company: AbbVie Inc.
Filing Date: 2025-06-13
Form: 11-K
Chunk 20
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 fee, loan fee, Qualified Domestic Relations Order review fee, brokerage fee, or check fee),
such expense is charged to the account of the participant.

Participant Accounts

Each participant’s account is credited with
the participant’s contributions and employer contributions and allocations of plan earnings and charged with any participant account
fees. Plan earnings are allocated based on the participant’s share of net earnings or losses of their respective elected investment
options. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

Notes Receivable from Participants

Participants may borrow from their accounts a
minimum of $500 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance, subject to the Puerto Rico Code
limitations and restrictions and Plan rules, and may have one or two loans outstanding. The loans are secured by the balance in the participant’s
account. Participants pay interest on such loans at the prime rate on the first business day of the month the loan is made. Loans must
be repaid within five years unless the loan is used for the purchase of the primary residence of the employee, in which case the repayment
period can be extended to a period of fifteen years. Repayment is generally made through periodic payroll deductions but a loan may be
repaid in a lump sum at any time. For employees terminating employment with AbbVie during the repayment period who do not repay their
loan before distribution of their Plan account, the balance of the outstanding loan is netted from their Plan distribution.

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AbbVie Puerto Rico Savings Plan

NOTES TO FINANCIAL STATEMENTS - CONTINUED

December 31, 2024 and 2023

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting

The financial statements have been prepared using the accrual basis
of accounting.

Use of Estimates

The preparation of financial statements in conformity
with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual
results may differ from those estimates.

Investment Valuation

Investments are reported at fair value. Fair value
is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date. The Plan uses the following methods and significant assumptions to estimate