Offer Letter between Intel Corporation and David A. Zinsner dated January 6, 2022 EX-10.1 2 d270836dex101.htm EX-10.1 EX-10.1 Exhibit 10.1
Corporate Headquarters Intel Corporation 2200 Mission College Blvd Santa Clara, CA, 95054-1549 (408) 765-8080 January 5, 2022 Dear David: Congratulations! On behalf of Intel Corporation (“Intel” or the “Company”), I am pleased to offer you the position of Executive Vice President and Chief Financial Officer, reporting to me, and also have you serve as principal accounting officer. The role will be based in Santa Clara, California. Your start date will be January 17, 2022 (“Effective Date”). Base Salary. Your starting annual base salary will be $800,000 less applicable taxes, deductions, and withholdings. Annual Performance Bonus (APB): You will be eligible for an Annual Performance Bonus (“APB”). Your APB Payout Goal is $1,320,000. Payouts under the APB are subject to eligibility and other program conditions, as well as the company’s performance to its financial and operational goals. Payouts are not guaranteed and will be prorated based on the Effective Date. Quarterly Profit Bonus. You are eligible for quarterly bonuses under the Quarterly Profit Bonus (“QPB”) program. These bonuses are determined based on Intel’s quarterly profitability, subject to the terms of the QPB plan. QPBs are paid out in the month following the close of each calendar quarter. Based on historical payouts, we anticipate this will pay you approximately $18,600 per quarter ($74,400 annually). Your first quarterly bonus will be prorated to reflect the actual dates of participation for any portion of the quarter that you are employed with Intel. Subject to local law, to earn and receive a QPB, you must be employed on the Intel payroll before the cutoff date for each three-month bonus period and have received eligible earnings before the cutoff date. Target Cash Compensation. Your target annual cash compensation is $2,194,400; this is composed of your base salary, target APB payout, and estimated QPB payout. Your base salary and APB Payout Goal will be reviewed annually as part of our performance review process. Annual Equity Grant. As an employee of Intel, we would like you to share in the success of Intel Corporation through the Company’s stock benefit program. Therefore, the target value for your 2022 long-term incentive equity award will be approximately $8,250,000, which will be comprised of approximately 50% PSUs and 50% RSUs. The exact number of PSUs and RSUs will be determined on the Grant Date (as defined below), based on the average daily (on days where trading occurred) market value of Intel stock over 30 calendar days leading up to Page 1 of 5 and including that date. The RSUs will vest over a three-year period: 1/12 of the RSUs vesting per quarter beginning on the three-month anniversary of the Grant Date and continuing for three years such that the grant is fully vested on the three-year anniversary of Grant Date. The PSUs and RSUs will be subject to the terms and conditions of the Intel Corporation 2006 Equity Incentive Plan, the Notice of Grant for each award, and grant agreement linked to your Notice of Grant. New Hire “Make-Whole” Compensation. You will be provided the following as your make-whole compensation: Equity Awards. You will be granted the following equity compensation awards on January 31, 2022 (“Grant Date”), provided you are employed with Intel on this date: Performance Stock Units: You will be granted an award of Intel performance stock units (“PSUs”) based on the 2022 PSU program approved by the Compensation Committee, with a target value of approximately $5,000,000, and with the target number of shares determined on the Grant Date based on the average daily (on days where trading occurred) market value of Intel stock over 30 calendar days leading up to and including that date. Restricted Stock Units. You will be granted an award of Intel restricted stock units (“RSUs”) with a target value of approximately $12,000,000, with the number of shares determined on the Grant Date based on the average daily (on days where trading occurred) market value of Intel stock over 30 calendar days leading up to and including that date. The RSUs will vest annually over a three-year period. The PSUs and RSUs will be subject to the terms and conditions of the Intel Corporation 2006 Equity Incentive Plan, the Notice of Grant for each award, and grant agreement linked to your Notice of Grant. Cash Bonus. You will receive a sign on bonus of $2,000,000, less applicable taxes, deductions, and withholdings, which will be payable to you within 30 days following the Effective Date. Notwithstanding the foregoing, in the event that you voluntarily resign your employment for any reason or Intel terminates your employment for Cause (as defined below), in each case, within two (2) years following the payment date of the bonus, you will repay, on the date of your employment termination, the gross amount of the bonus paid to you on a pro-rated basis based on the number of days remaining in such two year period as of the date your employment terminates, by writing a check to Intel for such amount or otherwise entering into a repayment arrangement satisfactory to Intel. In addition, subject to applicable law, Intel may recover the cash payment that is required to be repaid by (1) reducing the amount that would otherwise be payable to you under any compensatory plan, program or arrangement maintained by Intel, (2) reducing any severance benefits that would otherwise be payable or provided to you under any plan, program, or arrangement maintained or entered into by Intel (including under any employment or severance agreement), or (3) by any combination of the foregoing.
Offer Letter between Intel Corporation and David A. Zinsner dated January 6, 2022 EX-10.1 2 d270836dex101.htm EX-10.1 EX-10.1 Exhibit 10.1
Corporate Headquarters Intel Corporation 2200 Mission College Blvd Santa Clara, CA, 95054-1549 (408) 765-8080
January 5, 2022 Dear David: Congratulations! On behalf of Intel Corporation (“Intel” or the “Company”), I am pleased to offer you the position of Executive Vice President and Chief Financial Officer, reporting to me, and also have you serve as principal accounting officer. The role will be based in Santa Clara, California. Your start date will be January 17, 2022 (“Effective Date”). Base Salary. Your starting annual base salary will be $800,000 less applicable taxes, deductions, and withholdings. Annual Performance Bonus (APB): You will be eligible for an Annual Performance Bonus (“APB”). Your APB Payout Goal is $1,320,000. Payouts under the APB are subject to eligibility and other program conditions, as well as the company’s performance to its financial and operational goals. Payouts are not guaranteed and will be prorated based on the Effective Date. Quarterly Profit Bonus. You are eligible for quarterly bonuses under the Quarterly Profit Bonus (“QPB”) program. These bonuses are determined based on Intel’s quarterly profitability, subject to the terms of the QPB plan. QPBs are paid out in the month following the close of each calendar quarter. Based on historical payouts, we anticipate this will pay you approximately $18,600 per quarter ($74,400 annually). Your first quarterly bonus will be prorated to reflect the actual dates of participation for any portion of the quarter that you are employed with Intel. Subject to local law, to earn and receive a QPB, you must be employed on the Intel payroll before the cutoff date for each three-month bonus period and have received eligible earnings before the cutoff date. Target Cash Compensation. Your target annual cash compensation is $2,194,400; this is composed of your base salary, target APB payout, and estimated QPB payout. Your base salary and APB Payout Goal will be reviewed annually as part of our performance review process. Annual Equity Grant. As an employee of Intel, we would like you to share in the success of Intel Corporation through the Company’s stock benefit program. Therefore, the target value for your 2022 long-term incentive equity award will be approximately $8,250,000, which will be comprised of approximately 50% PSUs and 50% RSUs. The exact number of PSUs and RSUs will be determined on the Grant Date (as defined below), based on the average daily (on days where trading occurred) market value of Intel stock over 30 calendar days leading up to Page 1 of 5 and including that date. The RSUs will vest over a three-year period: 1/12 of the RSUs vesting per quarter beginning on the three-month anniversary of the Grant Date and continuing for three years such that the grant is fully vested on the three-year anniversary of Grant Date. The PSUs and RSUs will be subject to the terms and conditions of the Intel Corporation 2006 Equity Incentive Plan, the Notice of Grant for each award, and grant agreement linked to your Notice of Grant. New Hire “Make-Whole” Compensation. You will be provided the following as your make-whole compensation: Equity Awards. You will be granted the following equity compensation awards on January 31, 2022 (“Grant Date”), provided you are employed with Intel on this date: Performance Stock Units: You will be granted an award of Intel performance stock units (“PSUs”) based on the 2022 PSU program approved by the Compensation Committee, with a target value of approximately $5,000,000, and with the target number of shares determined on the Grant Date based on the average daily (on days where trading occurred) market value of Intel stock over 30 calendar days leading up to and including that date. Restricted Stock Units. You will be granted an award of Intel restricted stock units (“RSUs”) with a target value of approximately $12,000,000, with the number of shares determined on the Grant Date based on the average daily (on days where trading occurred) market value of Intel stock over 30 calendar days leading up to and including that date. The RSUs will vest annually over a three-year period. The PSUs and RSUs will be subject to the terms and conditions of the Intel Corporation 2006 Equity Incentive Plan, the Notice of Grant for each award, and grant agreement linked to your Notice of Grant. Cash Bonus. You will receive a sign on bonus of $2,000,000, less applicable taxes, deductions, and withholdings, which will be payable to you within 30 days following the Effective Date. Notwithstanding the foregoing, in the event that you voluntarily resign your employment for any reason or Intel terminates your employment for Cause (as defined below), in each case, within two (2) years following the payment date of the bonus, you will repay, on the date of your employment termination, the gross amount of the bonus paid to you on a pro-rated basis based on the number of days remaining in such two year period as of the date your employment terminates, by writing a check to Intel for such amount or otherwise entering into a repayment arrangement satisfactory to Intel. In addition, subject to applicable law, Intel may recover the cash payment that is required to be repaid by (1) reducing the amount that would otherwise be payable to you under any compensatory plan, program or arrangement maintained by Intel, (2) reducing any severance benefits that would otherwise be payable or provided to you under any plan, program, or arrangement maintained or entered into by Intel (including under any employment or severance agreement), or (3) by any combination of the foregoing.
那个是杜撰的？
为PS的噱头着急上火，难道不更傻？
网上公开的，Intel是上市公司。
上市公司 SEC公开档案，随便看
https://www.sec.gov/Archives/edgar/data/50863/000119312519096036/d642676dex101.htm
那帐W2是你的？
无名无姓无地址的三无W2，凭什么让人相信？！
人家Trump炫富，现的是Trump大厦、私人飞机、别墅群。小红书里的炫富真是寒酸，就一张破纸，还藏头去尾的，真是贫穷限制了想象力啊😂😂👍
你要是现一下与1米收入匹配的消费也行啊？比如十几万的Tiffany, 100双Manolo Blahnik 的高跟鞋，兰博基尼跑车…现一张破纸，一看就是下室猥琐男的标准动作😂😂😂
有什么算的？有本事就把真实姓名地址报出来，藏着掖着干什么？谁知道这W2到底是谁的？
好厉害。学习了
人家Trump炫富，现的是Trump大厦、私人飞机、别墅群。小红书里的炫富真是寒酸，就一张破纸，还藏头去尾的，真是贫穷限制了想象力啊😂😂😂
你要是现一下与1米收入匹配的消费也行啊？比如十几万的Tiffany, 100双Manolo Blahnik 的高跟鞋，兰博基尼跑车…现一张破纸，一看就是下室猥琐男的标准动作😂😂😂
别人也就是年景好，赚了1M，你这么酸有必要吗？
一点也没酸。这是觉得这个来晒的太穷酸了😎
这种大厂什么时候拿的offer什么level只要这些对上了工资都大差不差，那个w2没什么问题。你可确实是够酸的。
把有名有姓的真实W2放上来。不要用三无产品来显摆。你说没问题就行了？凭什么相信你？你们这种PUA与LinkedIn上的杀猪盘有什么区别？只要敢于疑问，就来辱骂！
Levels.fyi上搜一下对应的title就有概念了，那个w2数字上没大问题
lol谁求着你信似的，回你这种弄个搔首弄姿头像的帖真是浪费时间啊，屏了
这位大胸头像还说特斯拉是骗子呢，那么多开特斯拉的，估计都是在空中飞的？
真的就是个零头 唉