Company: ABBV
Filing Date: 2025-06-13
Form Type: 11-K
Source: 0001104659-25-059360
Chunk: 8

Company: AbbVie Inc.
Filing Date: 2025-06-13
Form: 11-K
Chunk 8
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 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 $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance, subject to IRC 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 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 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 the fair value of investments:

- Valued at its holding amount.

- Valued at the published net asset value (“NAV”) or market price per share.

-
Include various securities, mainly consisting of cash and cash equivalents, common stock, exchange-traded funds, and mutual funds, which
are valued at the closing price reported in the active market in which the securities are traded.

The fair value hierarchy under