Intel CEO Sees 8% Raise In 2010

NEW YORK (AP) — Intel CEO Paul Otellini received a 2010 pay package worth $15.5 million, according to an AP tally of data filed with regulators.

That's up 8 percent from 2009 as the world's largest maker of chips used in PCs and other devices grew its profit and revenue thanks largely to a rebound in corporate demand.

Intel Corp. said Monday it gave a base salary of $1 million to Otellini last year, the same as in 2009. Much of the increase in Otellini's pay package came from his performance-based cash bonus of $6.8 million. That's up 29 percent from $5.3 million in 2009.

Santa Clara, Calif.-based Intel says 2010 marked the first time its annual revenue surpassed $40 billion.

The AP's calculation counts salary, bonuses, perks, stock and options awarded to the executive during the year.

More