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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Yousef who wrote (54446)	4/6/1999 1:25:00 PM
From: RDM	Respond to of 1570835

Intel executives received smaller bonuses in 1998 WASHINGTON (Reuters) - Bonuses paid to senior executives at computer chip giant Intel Corp. were cut substantially in 1998, a year in which worldwide chip sales suffered a big decline, the company reported on Tuesday. Chairman Andrew Grove, 62, saw his 1998 bonus fall to $1,926,800 from $2,790,400 in 1997, Intel reported in a proxy filed with the Securities and Exchange Commission. Grove's base salary rose to $490,000 from $465,000, the Santa Clara, Calif., company said. Chief Executive and President Craig Barrett, 59, saw his bonus decline to $1,789,800 from $2,190,100 in 1997, while his salary rose to $454,200 from $365,000. There was an average bonus decline of about $340,000 for Intel's three other most highly compensated executives -- Gerhard Parker, executive vice president and general manager of the New Business Group; Leslie Vadasz, senior vice president and director of corporate business development; and Paul Otellini, executive vice president and general manager of the Intel Architecture Business Group. The trio had only modest gains in salary. In 1998, worldwide sales of semiconductors suffered their biggest decline since 1985 as production overcapacity led to steep price drops in many product areas. According to the market research firm Dataquest, chip sales totaled $134.8 billion last year, down 8.4 percent from 1997. In 1998 Barrett and Grove each were awarded options to buy 744,000 shares of Intel -- 600,000 at an exercise price of $37.80 a share and 144,000 at $38. The options on the 600,000 shares expire Jan. 20, 2008; the other options expire April 14, 2008. The options on the 144,000 shares are first exercisable in 2003. Barrett may exercise his options on the 600,000 shares on various dates between 2002-2005; Grove may exercise his options on the 600,000 shares between 1999 and 2002. Intel shares closed Monday at $127.50 on the Nasdaq stock market.