The word bonus is so 1999…

February 23, 2004

In its 10-K filed earlier today, Intel Corp. (INTC) changed the name of its Executive Officer Bonus Plan to the new Executive Officer Incentive Plan, which clearly has a different ring to it. But that’s not the only change in the plan, which is really an updated version of its plan filed back in April 2000. In the K, Intel spells out the different “qualifying criteria” that the company’s compensation committee “may include but are not limited to” such as: asset write-downs, acquisition-related charges, litigation, claims judgments, settlements or tax settlements….and the list goes on. While it’s a bit more information than Intel has provided in the past on the bonus, er, incentive plan, it’s still pretty confusing for the average investor to make heads or tails out of. Despite the name change, one thing remains the same: no payment can exceed $5 million.

Leave a Reply

You must be logged in to post a comment.