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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: ChipGeek who wrote (180926)	4/28/2005 5:28:54 PM
From: Chuck Linsley	Read Replies (1) \| Respond to of 186894

ChipGeek, Do you have examples of where this [cancelling option grants and issuing new ones] has occurred? I've certainly never heard of this happening in the industry among proven technology companies. It happened once at a company I worked for. It has been so long that I can no longer remember what company it was, nor when it happened. I think it may have been Chips and Technologies, but I'm not sure. My recollection is that the economy tanked, and the company did exactly that -- canceled outstanding options and replaced them with options at the then-current market price. Then the economy tanked further. They told us that they would like to reprice again, but could not, because they had done so once, and if they were to do it again it would come straight off the bottom line. They came up with some other way to compensate us. Chuck