Intel said it appointed Michelle Johnston Holthaus as Chief Executive Officer of the Intel Products business on December 1, 2024 and entered into a letter agreement with her on February 28, 2025 setting out the terms of her compensation and employment.

1. 01

   Intel said it appointed Michelle Johnston Holthaus as Chief Executive Officer of the Intel Products business on December 1, 2024 and entered into a letter agreement with her on February 28, 2025 setting out the terms of her compensation and employment.

2. 02

   Intel said Ms. Johnston Holthaus's annual base salary increased to $1,000,000 and her annual cash bonus target increased to 200% of her base salary, or $2,000,000, effective January 1, 2025.

3. 03

   The company said her annual long-term incentive equity award target value increased to about $16,000,000, and that she received a one-time award of restricted stock units with an aggregate target value of about $5,000,000.

4. 04

   The company said Ms. Johnston Holthaus will be eligible for severance benefits under the Executive Severance Plan if she resigns for good reason within 2 years after the appointment of a new Intel Chief Executive Officer. The benefits are subject to her execution and non-revocation of a release of claims.

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