To: steve harris who wrote (90569 ) 10/19/1999 12:33:00 AM From: Paul Engel Read Replies (1) | Respond to of 186894
Stevie Wonder - - Re: "New Intel game plan I think I have discovered...."If you can't beat'em, buy'em!" Gateway got $20 million, wonder what Intel is throwing at HP? It's called: "Intel Inside Co-op Funds" It was related to being pro-Intel advertising, " Here's another way to spend CORPORATE MONEY, Stevie !!!! It really takes BRAINS to spend it this way !!! {======================================}eb-mag.com Among the state's technology company executives, Sanders' $3-million salary and bonus that year ranked him behind only Redwood City, CA-based Oracle Corp. Chief Executive Lawrence Ellison, the survey revealed. Sanders led executives such as Intel President Andrew Grove, Sun Microsystems Chief Executive Scott McNealy and Hewlett-Packard Chief Executive Lewis Platt. AMD also provides Sanders with such perks as a chauffeured limousine and personal bodyguards for company events. Those two items alone cost the company $663,000 over the last three years. But the new employment agreement Sanders received last September, the same month that AMD announced it was laying off 200 workers, promises to make Sanders wealthy indeed. "This is an extremely sweet package," concludes Brian T. Foley, an executive compensation consultant based in White Plains, NY. Besides a minimum annual base salary of $1 million, Sanders will get an incentive bonus equal to 0.6% of the company's adjusted operating profits in excess of 20% of the previous year's adjusted operating profits, to a maximum of $5 million. He's also eligible for an additional bonus, at the compensation committee's discretion. What makes the package so lucrative, however, is an option grant for 2.5 million shares of AMD stock, at a price of $14.75 per share. Sanders can automatically exercise 325,000 of those shares this November, and an additional 325,000 shares in November 1998. If AMD's stock price reaches certain milestones, he will be able to exercise additional options each year through the year 2001. In any event, Sanders can exercise all 2.5 million options by at least the year 2003, regardless of how AMD's stock performs. Although Sanders has accepted responsibility for some of last year's disappointments, his $1.04-million salary last year actually represented an increase of $60,000 over 1995, and in September he received a lucrative 5-year contract extension (see "Hitting the jackpot,'' below). Observers point out that AMD's board has never been inclined to deny Sanders what he wants. Business Week last November listed AMD as having one of the 25 worst corporate boards, noting that it was dominated by Sanders, who also chairs the nominating committee. Three of the board's eight members are inside directors: Sanders, Previte and Atiq Raza, the company's chief technical officer, who joined after AMD acquired NexGen Inc. in 1995. The other directors come almost exclusively from academia or the financial community; none are currently active in managing high-tech companies. {===========================================} This waste of AMD's corporate money sure is SMARTER than helping AMD's customers sell AMD's products !!!!!!! AMD sure is SMART - eh Stevadore ??? !!!! Paul