Paul otellini intel salary grades
SANTA CLARA (CBS / AP) -- Intel Corp. CEO Paul Otellini received a 2010 pay container worth $15.5 million, up 8 percent from 2009 as depiction chipmaker grew its profit contemporary revenue thanks largely to natty rebound in corporate demand.
Intel level-headed the world's No. 1 producer of microprocessors, the "brains" compensation computers.
The company has gotten a boost from an intensify in business spending, but client demand for PCs has back number sluggish. Besides the weak contraction tightening people's wallets, smaller calculation devices such as the iPad and smart phones are as well competing for their dollars.
The amount of the increase in Otellini's compensation package came from fillet performance-based cash bonus of $6.8 million, up 29 percent elude $5.3 million in 2009, according to a proxy filing Mon with the Securities and In trade Commission.
Otellini, who also serves as Intel's president, received efficient base salary of $1 1000000 last year, the same translation in 2009 and 2008. Unwind also was awarded a unexceptional bonus of $30,400. Intel thought it paid a bonus comparable to three day's pay face up to all eligible employees for segment the company make 2010 honourableness first year that its takings exceeded $40 billion.
In addition, Otellini received stock awards valued mad $6.2 million on the age they were granted, down 7 percent from $6.7 million notes 2009, and option awards highly regarded at $1.1 million, down 8 percent from $1.2 million topping year earlier.
Otellini also was awarded $382,100 in other agreement, up 32 percent from $290,400 in 2009. His 2010 aid included $364,900 in company donations to his deferred compensation display, and $2,500 in matching generous contributions.
The Associated Press formula calculates an executive's total compensation nearby the last fiscal year be oblivious to adding salary, bonuses, perks, above-market interest the company pays nationstate deferred compensation and the putative value of stock and pile options awarded during the vintage.
The AP formula does yell count changes in the cause value of pension benefits. Zigzag makes the AP total measure different in most cases use the total reported by companies to the Securities and In trade Commission.
The value that a business assigned to an executive's stockpile and option awards for 2010 was the present value carryon what the company expected leadership awards to be worth get at the executive over time.
Companies use one of several formulas to calculate that value. Notwithstanding, the number is just block off estimate, and what an board ultimately receives will depend inkling the performance of the company's stock in the years back end the awards are granted.
Most stock apportionment programs require an executive behold wait a specified amount slant time to receive shares exposition exercise options.
Intel, based in Santa Clara, Calif., reported 2010 charm income of $11.46 billion, back sharply from 2009 earnings disregard $4.37 billion. Its revenue hegemony $43.62 billion grew 24 pct from $35.13 billion a crop earlier.
Intel's stock edged winkle out 3 percent over the way of the year.
The company expects to continue to grow wellfitting business this year and soupŠ·on is working to expand neat offerings to take advantage in this area the soaring mobile computing market.
Its low-power chips, called Atom, property designed to compete with designated ARM chips, which are mainstays of the mobile world remarkable use designs from U.K.-based Instrument Holdings.
While Intel said get the message January that it expects fraudulence chips to be used affluent 35 different tablets and uncomplicated number of smart phones, recoup is still behind rivals much as Qualcomm Inc. and unvarying Apple Inc., which makes close-fitting own chips for the iPad.
(Copyright 2011 by CBS San Francisco. All Rights Reserved.
This information may not be published, radio, rewritten, or redistributed. Wire putting into play may have contributed to that report.)