Intel CEO's pay package climbs 7% to $15.7 million

05.04.2011
Intel CEO Paul Otellini received a 7% pay bump last year, as Intel more than doubled its profits and for the first time topped $40 billion in revenue. His total compensation climbed to $15.7 million in 2010 from $14.6 million in 2009, according to documents filed yesterday with the U.S. Securities and Exchange Commission.

Otellini's pay package included his $1 million salary, which is unchanged from the salary he received in 2009, and a $30,400 cash bonus. The bonus, which Intel says is equivalent to three days of compensation, "was a special bonus paid to all eligible employees, including the listed officers, for their contribution in achieving an Intel milestone: Intel's first year when revenue exceeded $40 billion," the company explained in its proxy statement.

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The biggest boost to Otellini's pay came in the form of a performance-based bonus worth $6.8 million -- which is up 29% from the $5.3 million bonus he received in 2009.

The combined value of Otellini's equity awards declined compared to a year ago. He received stock awards valued at $6.2 million at the time they were granted (down 7% from $6.7 million in 2009) and option awards valued at $1.1 million (down 8% from $1.2 million in 2009).

The value of Otellini's other compensation and perquisites increased 32% to $382,100 which includes: $14,700 for retirement plan contributions, $364,900 for deferred compensation plan contributions, and $2,500 for matching charitable contributions. (See also: )