Document:

exv10w41

 

Exhibit 10.41

INTEL
CORPORATION

2006 DEFERRAL PLAN FOR

OUTSIDE DIRECTORS

Effective November 15, 2006

Intel Corporation, a Delaware Corporation, and its Subsidiaries (hereinafter collectively
“Intel” or the “Company”) hereby amend and restate the Deferral Plan for Outside Directors,
originally adopted on July 1, 1998.

1. PURPOSE

     The purpose of this Intel Corporation 2006 Deferral Plan for Outside Directors (the “Plan”) is
to advance the interests of the Company in such a manner as to attract, motivate and retain the
best available individuals to serve as Outside Directors (as defined herein). This Plan permits
Outside Directors to elect to defer all or part of their Director’s Cash Compensation or to receive
their entire Director’s Cash Compensation in the form of Restricted Stock Units (“RSUs”) issued
through Intel’s Equity Plan.

2. DEFINITIONS

     (a) “Beneficiary” or “Beneficiaries” means the individuals, trusts or other entities
designated by a Participant in writing pursuant to Section 9( b)(iv) of the Plan to receive any
benefit payable under the Plan by reason of the death of a Participant, or, in the absence of such
designation, the persons specified in Section 9(b)(v) of the Plan.

     (b) “Benefit” means the amount credited to a Participant’s Cash Deferral Account pursuant to
such Participant’s Election Form plus dividend credits pursuant to Section 6(b).

     (c) “Board” means the Board of Directors of the Company.

     (d) “Closing Price” means the closing price, or last reported sales price, as the case may be
of the Company’s Common Stock on the NASDAQ Stock Market , or the primary national securities
exchange on which the Common Stock is traded as of the applicable date; provided, however, that if
no closing price or last reported sales price is available for such date, “Closing Price” means the
closing price or last reported sales price, as the case may be, of the Company’s Common Stock as of
the next most recent date for which a price is available.

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     (e) “Code” means the Internal Revenue Code of 1986, as amended from time to time and any
reference to a section of the Code shall include any successor provision of the Code.

     (f) “Common Stock” means the common stock of the Company.

     (g). “Company” means Intel Corporation, a Delaware Corporation, and its Subsidiaries.

     (h) “Election Form” means the Outside Director Annual Compensation and Restricted Stock Units
(RSUs) Election Form.

     (i) “Deferred Compensation Unit” means a unit equal in value to one share of Common Stock and
posted to a Participant’s Cash Deferral Account for the purpose of measuring the Benefits payable
under the Plan. The number of Deferred Compensation Units in a Participant’s Cash Deferral Account
or posted to a Participant’s Cash Deferral Account shall be rounded to the nearest one-hundredth.
In the event that shares of Common Stock shall be changed into or exchanged for a different number
or kind of shares of stock or other securities of the Company or another corporation (whether by
reason of merger, consolidation, recapitalization, split-up, combination of shares or otherwise),
or if the number of shares of Common Stock shall be increased through a stock split or the payment
of a stock dividend, then there shall be substituted for or added to each Deferred Compensation
Unit the number and kind of shares of stock or other securities into which each outstanding share
of Common Stock shall be so changed, or for which each such share shall be exchanged, or to which
each such share shall be entitled, as the case may be.

     (j) “Director’s Cash Compensation” of an Outside Director for any Plan Year means that
individual’s total annual retainer, and any fees received for performance of the Outside Director’s
functions, including fees for attendance or participation at meetings and for serving on a Board
Committee or as a Committee or Board Chair. “Director’s Cash Compensation” for purposes of this
plan shall not include expense reimbursements or annual grants made under the Equity Plan.

     (k) “Early Cash Benefit Distribution Date” means a date specified by the Participant in the
Election Form and which is at least twenty-four (24) full calendar months after the date the
Participant’s Election Form is received by the Company.

     (l) “Effective Date” means the date on which this Plan became effective, i.e., November 15,
2006.

     (m) “Equity Plan” means the Intel 2006 Equity Incentive Plan as amended from time to time or
any equivalent plan which permits equity grants to Outside Directors.

     (n) “Enrollment Period” means the period from December 1 to December 31 of the calendar year
prior to the Plan Year to which an Election Form applies. The Enrollment Period for any newly
elected Outside Director shall be any time up to thirty

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(30) days
before the Outside Director takes office provided that the deferral election
shall apply only to the Director’s Cash Compensation with respect to services performed after the
election.

     (o) “Outside Director” means a member of the Board of Directors who is not an employee of the
Company.

     (p) “Participant” means an Outside Director of the Company who has executed an Election Form
and who, if cash has been deferred, maintains a Participant’s Cash Deferral Account in the Plan.

     (q) “Participant’s Cash Deferral Account ” means the account established for each Participant
which shall be utilized solely as a device to measure and determine the amount of deferred
Director’s cash compensation to be paid under the Plan

     (q) “Plan” means the “2006 Deferral Plan for Outside Directors” as set forth herein and as
amended or restated from time to time.

     (r) “Plan Year” means January 1 through December 31.

     (s) “Regular Cash Distribution Date” means the date on which a Termination Event occurs.

     (s) “RSUs” means Restricted Stock Units issued through the Equity Plan. An RSU is an award of
a right to receive, in cash or stock (as determined under the Equity Plan) the market value of one
Share, the grant, issuance, retention and/or vesting of which is subject to such conditions as are
expressed in the documents(s) evidencing the award.

     (t) “Share” shall mean a share of common stock, $.001 par value, of the Company or the number
and kind of shares of stock or other securities which shall be substituted or adjusted for such
shares as provided in Section 11 of the Equity Plan.

     (u) “Subsidiary” means any corporation or entity in which Intel Corporation owns or controls,
directly or indirectly, fifty percent (50%) or more of the voting power or economic interests of
such corporation or entity.

     (v) “Termination Event” means an event constituting the cessation of a Participant’s status
as a Director of the Company.

3. ADMINISTRATION OF THE PLAN

     (a) Administration by the Company. The Company shall be responsible for the general
operation and administration of this Plan and for carrying out the provisions thereof.

     ( b) General Powers of Administration. The Plan shall be administered by the Company,
as determined by the Corporate Secretary or his designee or delegate. The

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Company shall be entitled to rely conclusively upon all tables, valuations, certificates,
opinions and reports furnished by any actuary, accountant, controller, counsel or other person
employed or engaged by the Company with respect to this Plan. No Participant or any Beneficiary
shall have any legal or equitable interest in any asset of the Company.

     (c) Interpretation. This Plan is intended to comply with the requirements of Section
409A of the Code. In the event of any lack of clarity in the terms of this Plan, it shall be
interpreted and administered in such a manner as to preserve the compliance of any Election Form
with the requirements of Section 409A.

     (d) Claims Procedure. The Company shall notify a Participant in writing within ninety
(90) days of the Participant’s written application for benefits of his eligibility or
non-eligibility for benefits under the Plan. If the Company determines that a Participant is not
eligible for benefits or full benefits, the notice shall set forth (i) the specific reasons for
such denial, (ii) a specific reference to the provision of the Plan on which the denial is based,
(iii) description of any additional information or material necessary for the claimant to perfect
his claim, and a description of why it is needed, and an explanation of the Plan’s claims review
procedure and other appropriate information as to the steps to be taken if the Participant wishes
to have his claim reviewed. If the Company determines that there are special circumstances
requiring additional time to make a decision, the Committee shall notify the Participant of the
special circumstances and the date by which a decision is expected to be made, and may extend the
time for up to an additional 90 days. If a Participant is determined by the Company to be not
eligible for benefits, or if the Participant believes that he is entitled to greater or different
benefits, he shall have the opportunity to have his claim reviewed by the Company by filing a
petition for review with the Company within sixty (60) days after receipt by him of the notice
issued by the Committee. Said petition shall state the specific reasons the Participant believes
he is entitled to benefits or greater or different benefits. Within sixty (60) days after receipt
by the Company of said petition, the Company shall afford the Participant (and his counsel, if any)
an opportunity to present his position to the Company orally or in writing, and said Participant
(or his counsel) shall have the right to review the pertinent documents, and the Company shall
notify the Participant of its decision in writing within said sixty (60) day period, stating
specifically the basis of said decision written in a manner calculated to be understood by the
Participant and the specific provisions of the Plan on which the decision is based. If, because of
the need for a hearing, the sixty (60) day period is not sufficient, the decision may be deferred
for up to another sixty (60) day period at the election of the Company, but notice of this deferral
shall be given to the Participant.

4. PARTICIPATION.

     (a) Eligibility to Participate. Each Outside Director may participate in this Plan.

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     (b) Election to Participate. An Outside Director may become a Participant in the Plan
by electing to defer compensation in accordance with the terms of this Plan during
an Enrollment Period. An election to defer cash or receive RSUs in lieu of cash shall be executed
by completing the Election Form which must be filed with the Company before the end of the
Enrollment Period. The Election Form shall specify whether the Outside Director is electing to
defer all or part of their Director’s Cash Compensation into Deferred Compensation Units or to
receive all of their Director’s Cash Compensation in the form of RSUs. A person who first becomes
an Outside Director after the beginning of a Plan Year shall make a deferral election within the
first 30 days of taking office, provided that such election shall apply only to Director’s Cash
Compensation with respect to services performed after the election. A deferral election made
pursuant to an Election Form shall continue in effect for each succeeding Plan Year until modified
by the Participant; provided, however, that no Early Cash Benefit Distribution contained in such
election shall be given effect unless it complies with Section 7(b) of this Plan. No modification
shall be given effect with respect to a Plan Year in which the modification is intended to apply
unless that modification is made prior to the beginning of that Plan Year. An Election Form shall
be irrevocable for a Plan Year as of the first day of such Plan Year.

     (c) Cessation of Participation. Participation in the Plan shall continue until all of
the Benefits to which the Participant is entitled have been paid in full. RSUs granted in lieu of
cash will be paid out as stated in the Notice of Grant.

5. ELECTION TO RECEIVE RSUs IN LIEU OF CASH

     (a) Beginning with the 2007 Plan Year, Outside Directors may elect to receive all of their
Director’s Cash Compensation in the form of RSUs;

     (b) The election to receive RSUs in Lieu of Cash can only be made for a Plan Year if the
Outside Director does not elect to defer cash under Section 6.

     (c) The election to receive RSUs must be made before the end of the Enrollment Period for the
Plan Year. Newly eligible Outside Directors shall make an election to receive RSUs not later than
the 30th day after taking office; provided that the election shall only apply to
Director’s Cash Compensation with respect to services performed after the election.

     (d) RSUs in Lieu of Cash follow the vesting rules as set forth in the Equity Plan. Any
elections to further defer ownership of the Common Stock received on vesting of RSUs will be made
during the Enrollment Period on the Election Form.

6. ELECTION TO DEFER CASH INTO A PARTICIPANT’S CASH DEFERRAL ACCOUNT

     (a) Deferrals. If an Outside Director does not elect to receive RSUs (under Section
5) for a Plan Year, he may elect the amount of Director’s Cash Compensation to be deferred into his
Participant’s Cash Deferral Account.

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     (I) The Company shall post to the Participant’s Cash Deferral Account a number of
Deferred Compensation Units equivalent to the amount of Director’s Cash Compensation
specified in the Election Form in effect for the Plan Year;

     (II) Deferrals of Director’s Cash Compensation (and the corresponding number of
Deferred Compensation Units) relating to quarterly retainers shall be posted as of the last
day of the fiscal quarter in which the Director’s Cash Compensation was earned. Deferrals of
Director’s Cash Compensation (and the corresponding number of Deferred Compensation Units)
relating to all other forms of Director’s Cash Compensation shall be posted as of the last
day of the quarter in which the Director’s Cash Compensation was earned. Participant’s Cash
Deferral Account shall be calculated by dividing: (i) the dollar amount of Director’s Cash
Compensation deferred by (ii) the applicable Closing Price for the day as of which such
Units are posted to the Participant’s Cash Deferral Account.

     (iii) Participant deferrals placed into the Participant’s Cash Deferral Account are
100% vested.

     (b) Dividend Credits. The Participant’s Cash Deferral Account will be credited, as of
the applicable dividend payment date, with additional Deferred Compensation Units, equal to the per
share dividend declared on the Company’s Common Stock times the number of Deferred Compensation
Units posted to the Participant’s Cash Deferral Account as of the record date with respect to the
declaration of such dividend divided by the Closing Price applicable to such record date.

     (c) Participant’s Cash Deferral Account Value. As of any date of valuation, the
value of a Participant’s Cash Deferral Account will be equal to the value (at the Closing Price on
such date) of the number of shares of Common Stock represented by the Deferred Compensation Units
credited to the Participant’s Cash Deferral Account as of that date.

     (c) Distributions. The number of Deferred Compensation Units in a Participant’s Cash
Deferral Account shall be debited for the amount of any distributions by dividing: (i) the dollar
amount of the distribution by (ii) the Closing Price of the Company’s Common Stock applicable to
the last trading day of the month with respect to which the distribution was made.

7. PARTICIPANT’S CASH DEFERRAL ACCOUNT BENEFITS

     (a) Timing of Distribution. The amounts credited to a Participant’s Cash Deferral
Account shall be paid (or payment shall commence) within a reasonable time after the earlier of:
(i) the Early Cash Benefit Distribution Date, if the Participant has made a valid election for
early distribution of Benefits pursuant to Section 7(b) of this Plan, or (ii) the Regular Cash
Distribution Date.

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     (b) Early Cash Benefit Distribution. A Participant may elect for each Plan Year an
Early Cash Benefit Distribution Date 100% of his or her
Participant’s Cash Deferral Account related to that Plan Year Such election shall be made on the Participant’s Election Form
and shall be irrevocable as to the date of distribution for the Plan Year(s) to which the Election
Form applies.

     (i) No election of an Early Cash Benefit Distribution Date shall be given effect unless
such election specifies an Early Cash Benefit Distribution Date which is at least
twenty-four (24) full calendar months after the date the Participant’s Election Form is
received by the Company.

     (ii) In the event a Participant has a Termination Event prior to his or her Early Cash
Benefit Distribution Date, his or her election of an Early Cash Benefit Distribution Date
shall not be given effect and distribution of the Participant’s Cash Deferral Account shall
be made in accordance with Section 7(a) without regard to Section 7(a) (i).

8. DISTRIBUTION OF CASH BENEFITS

     (a) Form of Cash Benefit Distribution. Participants may elect on their Election Forms
one of the following forms of cash benefits distributions for Regular Cash Distributions:

     (i) Annual installment payments over a five (5) year or a ten (10) year period; or

     (ii) A lump sum distribution.

Installment payments shall be available to a Participant only in the event the Participant elects
to receive a distribution on a Regular Cash Distribution Date. Installment payments are not
available for Early Cash Benefit Distributions. In the event a Participant has failed to elect a
form of distribution, or if no record of such election can be found, the Participant shall receive
annual payments over a ten (10) year period. Except for lump sum distributions, Benefit payments
shall be a level annual amount for each calendar year, calculated using the balance in the
Participant’s Cash Deferral Account at the beginning of the calendar year (or, in the case of the
first calendar year, on the Early Cash Benefit Distribution Date or the Regular Cash Distribution
Date) and dividing it by the total number of annual payments remaining in the entire payment
period. The Benefits payment amount shall be adjusted at the beginning of each calendar year.

     (b) Death Benefits.

     (i) In the event a Participant dies after commencement of payment of Benefits, the
remaining benefit payments, if any, shall be paid to the Participant’s Beneficiary in the
same manner such Benefits would have been paid if the Participant had survived.

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     (ii) In the event a Participant dies prior to the time benefits commence, the
Participant’s Benefit shall be paid to the Beneficiary in the form elected by the
Participant.

     (iii) Any Benefits which become payable under this Section 9 to the surviving spouse
of a Participant shall be paid in a manner which will qualify such Benefits for a marital
deduction in the estate of a deceased Participant under the terms of Section 2056 of the
Code, and unless specifically directed by a Participant to the contrary pursuant to an
effective beneficiary designation, any portion of a Participant’s Benefit payable to a
surviving spouse which remains unpaid at the death of such spouse shall be paid to the
spouse’s estate.

     (iv) Each Participant has the right to designate primary and contingent Beneficiaries
for Benefits payable under the Plan. A beneficiary designation by a Participant shall be in
writing on a form acceptable to the Company and shall only be effective upon delivery to the
Company. A beneficiary designation may be revoked by a Participant at any time by
delivering to the Company either written notice of revocation or a new beneficiary
designation form. The beneficiary designation form last delivered to the Company prior to
the death of a Participant shall control.

     (v) In the event there is no beneficiary designation on file with the Company, or all
Beneficiaries designated by a Participant have predeceased the Participant, the benefits
payable by reason of the death of the Participant shall be paid to the Participant’s spouse,
if living; if the Participant does not leave a surviving spouse, to the Participant’s issue
by right of representation; or, if there are no such issue then living, to the Participant’s
estate. In the event there are Benefits remaining unpaid at the death of a sole Beneficiary
and no successor Beneficiary has been designated, either by the Participant or the
Participant’s spouse pursuant to Section 8(b) (iv), the remaining balance of such benefit
shall be paid to the deceased Beneficiary’s estate; or, if the deceased Beneficiary is one
of multiple concurrent Beneficiaries, such remaining Benefits shall be paid proportionally
to the surviving Beneficiaries.

9. FUNDING OF PARTICIPANT’S CASH DEFERRAL ACCOUNT

     (a) Sources of Cash Benefits. All cash benefits under the Plan shall be paid when due
by the Company out of its assets or from an irrevocable trust established by the Company for that
purpose. If a Participant elects to receive RSUs in lieu of cash, the RSU will be issued through
the Equity Plan.

     (b) Property of Company. Any amounts set aside for Benefits payable under the Plan
are the property of the Company, except, and to the extent, of any assignment of such assets to an
irrevocable trust.

     (c) No Claim on Specific Assets. No Participant shall be deemed to have, by virtue of
being a Participant in the Plan, any claim on any specific assets of the

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Company such that the Participant would be subject to income taxation on his benefits under the
Plan prior to distribution and the rights of Participants and Beneficiaries to benefits under the
Plan shall be those of an unsecured general creditor of the Company.

10. OTHER PROVISIONS APPLICABLE TO PLAN

     (a) Benefits Inalienable. Except as provided in Section 8(b), the right of any
Participant, any Beneficiary, or any other person to the payment of any Benefits under this Plan
shall not be assigned, transferred, pledged or encumbered. Any amounts so set aside for Benefits
payable under the Plan are the property of the Company, except, and to the extent, of any
assignment of such assets to an irrevocable trust

     (b) Successors and Assigns. This Plan shall be binding upon and inure to the benefit
of the Company, its successors and assigns and the Participant and his or her heirs, executors,
administrators and legal representatives.

     (c) Costs of Enforcement. If the Company, the Participant, any Beneficiary, or a
successor in interest to any of the foregoing, brings legal action to enforce any of the provisions
of this Plan, the prevailing party in such legal action shall be reimbursed by the other party for
the prevailing party’s costs of such legal action including, without limitation, reasonable fees of
attorneys, accountants and similar advisors and expert witnesses.

     (d) Disputes. Any dispute or claim relating to or arising out of this Plan that cannot
be resolved pursuant to the procedures set forth in Section 3(d) of this Plan shall be resolved in
the following manner. The Participant or Beneficiary, as the case may be, on the one hand, and the
senior management of the Company, on the other hand (collectively, the “Parties”), shall meet to
attempt to resolve such disputes. If the disputes cannot be resolved by the Parties, either Party
may make a written demand for formal dispute resolution and specify therein the scope of the
dispute. Within thirty days after such written notification, the parties agree to meet for one day
with an impartial mediator and consider dispute resolution alternatives other than litigation. If
an alternative method of dispute resolution is not agreed upon within thirty days after the one day
mediation, either party may begin litigation proceedings.

     (e) Governing Law. This Plan shall be construed in accordance with and governed by
the laws of the State of Delaware, without reference to the principles of conflicts of law thereof,
to the extent such construction is not pre-empted by any applicable federal law.

     (f) Entire Agreement. This Plan constitutes the entire understanding and agreement
with respect to the subject matter contained herein, and there are no agreements, understandings,
restrictions, representations or warranties among any Participant and the Company other than those
set forth or provided for herein.

     (g) Termination or Amendment of Plan.

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     (i) This Plan may be amended by the Company at any time in its sole discretion by
resolution of its Board or any committee to which its Board has delegated such authority to
amend; provided, however, any amendment which would alter the irrevocable nature of an
election or which would reduce the amount credited to a Participant’s Cash Deferral Account
on the date of such amendment shall not be effective unless consented to in writing by the
Participant or, if the Participant has died or is incompetent, the Participant’s Beneficiary
or conservator.

     (ii) Notwithstanding the foregoing paragraph or any other provision in this Plan to
the contrary, the Company reserves the right to terminate the Plan in its entirety at any
time upon fifteen (15) days notice to the Participant. Any amounts not distributed after
payment in full of all Benefits hereunder shall revert to the Company.

10exv10w42

 

Exhibit 10.42

INTEL CORPORATION

2006 EQUITY INCENTIVE PLAN

TERMS AND CONDITIONS RELATING TO NON-QUALIFIED STOCK OPTIONS

GRANTED TO PAUL OTELLINI ON JANUARY 18, 2007 UNDER THE

INTEL CORPORATION 2006 EQUITY INCENTIVE PLAN

	1.	 	TERMS OF OPTION
	 
	 	 	The following standard terms and conditions (“Standard Terms”) apply to Non-Qualified Stock
Options granted to Paul Otellini under the Intel Corporation 2006 Equity Incentive Plan (the
“2006 Plan”) (other than grants made under the SOP Plus or ELTSOP programs).
	 
	2.	 	NONQUALIFIED STOCK OPTION
	 
	 	 	The option is not intended to be an incentive stock option under Section 422 of the Internal
Revenue Code of 1986, as amended (the “Code”) and will be interpreted accordingly.
	 
	3.	 	OPTION PRICE
	 
	 	 	The exercise price of the option (the “option price”) is 100% of the market value of the
common stock of Intel Corporation (“Intel” or the “Corporation”), $.001 par value (the
“Common Stock”), on the date of grant, as specified in the Notice of Grant. “Market value”
means the average of the highest and lowest sales prices of the Common Stock as reported by
NASDAQ.
	 
	4.	 	TERM OF OPTION AND EXERCISE OF OPTION
	 
	 	 	To the extent the option has become exercisable (vested) during the periods indicated in the
Notice of Grant and has not been previously exercised, and subject to termination or
acceleration as provided in these Standard Terms and the requirements of these Standard
Terms, the Notice of Grant and the 2006 Plan, you may exercise the option to purchase up to
the number of shares of the Common Stock set forth in the Notice of Grant. Notwithstanding
anything to the contrary in Section 5 or Sections 7 through
10 hereof, no part of the option
may be exercised after seven (7) years from the date of grant.
	 
	 	 	The process for exercising the option (or any part thereof) is governed by these Standard
Terms, the Notice of Grant, the 2006 Plan and your agreements with Intel’s stock plan
administrator. Exercises of stock options will be processed as soon as practicable. The
option price may be paid (a) in cash, (b) by arrangement with Intel’s stock plan
administrator which is acceptable to Intel where payment of the option price is made
pursuant to an irrevocable direction to the broker to deliver all or part of the proceeds
from the sale of the shares of the Common Stock issuable under the option to Intel, (c) by
delivery of any other

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	 	 	lawful consideration approved in advance by the Committee of the Board of Directors of Intel
established pursuant to the 2006 Plan (the “Committee”) or its delegate, or (d) in any
combination of the foregoing. Fractional shares may not be exercised. Shares of the Common
Stock will be issued as soon as practicable. You will have the rights of a stockholder only
after the shares of the Common Stock have been issued. For administrative or other reasons,
Intel may from time to time suspend the ability of employees to exercise options for limited
periods of time.
	 
	 	 	Notwithstanding the above, Intel shall not be obligated to deliver any shares of the Common
Stock during any period when Intel determines that the exercisability of the option or the
delivery of shares hereunder would violate any federal, state or other applicable laws.
	 
	 	 	Notwithstanding anything to the contrary in these Standard Terms or the applicable Notice of
Grant, Intel may reduce your unvested options if you change classification from a full-time
employee to a part-time employee.
	 
	 	 	IF AN EXPIRATION DATE DESCRIBED HEREIN FALLS ON A WEEKDAY, YOU MUST EXERCISE YOUR OPTIONS
BEFORE 3:45 P.M. NEW YORK TIME ON THE EXPIRATION DATE.
	 
	 	 	IF AN EXPIRATION DATE DESCRIBED HEREIN FALLS ON A WEEKEND OR ANY OTHER DAY ON WHICH THE
NASDAQ STOCK MARKET (“NASDAQ”) IS NOT OPEN, YOU MUST EXERCISE YOUR OPTIONS BEFORE 3:45 P.M.
NEW YORK TIME ON THE LAST NASDAQ BUSINESS DAY PRIOR TO THE EXPIRATION DATE.
	 
	5.	 	LEAVES OF ABSENCE

	 	(a)	 	Except as expressly provided otherwise in by these Standard Terms, if you take
a personal leave of absence (“PLOA”), the option will be exercisable only to the extent
and during the times specified in this Section 5:

	 	(1)	 	If the duration of the PLOA is 365 days or less, you may
exercise any part of the option that vested prior to the commencement of the
PLOA at any time during the PLOA. If the duration of the PLOA is greater than
365 days, any part of the option that had vested prior to the commencement of
the PLOA and that has not been exercised will terminate on the 365th
day of the PLOA.
	 
	 	(2)	 	If the duration of the PLOA is less than thirty (30) days:

	 	a.	 	The exercisability of any part of the option
that would have vested during the PLOA shall be deferred until the
first day that you return to work (i.e., the date that the PLOA is
terminated); and

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	 	b.	 	Any part of the option that had not vested at
the commencement of the PLOA and would not have vested during the PLOA
shall vest in accordance with the normal schedule indicated in the
Notice of Grant and shall not be affected by the PLOA.

	 	(3)	 	If the duration of the PLOA equals or exceeds thirty (30) days,
the exercisability of each part of the option scheduled to vest after
commencement of the PLOA shall be deferred for a period of time equal to the
duration of the PLOA. If you terminate employment after returning from the
PLOA but prior to the end of such deferral period, you shall have no right to
exercise any unvested portion of the option, except to the extent provided
otherwise in Sections 8 through 10 hereof, and such option shall terminate as of
the date that your employment terminates.
	 
	 	(4)	 	If you terminate employment with the Corporation during a PLOA:

	 	a.	 	Any portions of the option that had vested
prior to the commencement of the PLOA shall be exercisable in
accordance with Sections 7 through 10 hereof, as applicable; and
	 
	 	b.	 	Any portions of the option that had not vested
prior to the commencement of the PLOA shall terminate, except to the
extent provided otherwise in Sections 8 through 10 hereof.

	 	(b)	 	If you take an approved Leave of Absence (“LOA”) other than a PLOA under Intel
Leave Guidelines, the vesting of your options shall be unaffected by such absence and
will vest in accordance with the schedule set forth in the Notice of Grant.

	6.	 	SUSPENSION OR TERMINATION OF OPTION FOR MISCONDUCT
	 
	 	 	If you have allegedly committed an act of misconduct as defined in the 2006 Plan, including,
but not limited to, embezzlement, fraud, dishonesty, unauthorized disclosure of trade
secrets or confidential information, breach of fiduciary duty or nonpayment of an obligation
owed to the Corporation, an Authorized Officer, as defined in the 2006 Plan, may suspend
your right to exercise the option, pending a decision by the Committee (or Board of
Directors, as the case may be) or an Authorized Officer to terminate the option. The option
cannot be exercised during such suspension or after such termination.
	 
	7.	 	TERMINATION OF EMPLOYMENT
	 
	 	 	Except as expressly provided otherwise in by these Standard Terms, if your employment by the
Corporation terminates for any reason, whether voluntarily or involuntarily, other than
death, Disablement (defined below), Retirement (defined

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	 	 	below) or discharge for misconduct, you may exercise any portion of the option that had
vested on or prior to the date of termination at any time prior to ninety (90) days after
the date of such termination. The option shall terminate on the 90th day to the
extent that it is unexercised. All unvested stock options shall be cancelled on the date of
employment termination, regardless of whether such employment termination is voluntary or
involuntary.
	 
	 	 	For purposes of this Section 7, your employment is not deemed terminated if, prior to sixty
(60) days after the date of termination from Intel or a Subsidiary, you are rehired by Intel
or a Subsidiary on a basis that would make you eligible for future Intel stock option
grants, nor would your transfer from Intel to any Subsidiary or from any one Subsidiary to
another, or from a Subsidiary to Intel be deemed a termination of employment. Further, your
employment with any partnership, joint venture or corporation not meeting the requirements
of a Subsidiary in which Intel or a Subsidiary is a party shall be considered employment for
purposes of this provision if either (a) the entity is designated by the Committee as a
Subsidiary for purposes of this provision or (b) you are designated as an employee of a
Subsidiary for purposes of this provision.
	 
	8.	 	DEATH
	 
	 	 	Except as expressly provided otherwise in by these Standard Terms, if you die while employed
by the Corporation, the executor of your will, administrator of your estate or any successor
trustee of a grantor trust may exercise the option, to the extent not previously exercised
and whether or not vested on the date of death, at any time prior to 365 days from the date
of death.
	 
	 	 	Except as expressly provided otherwise in by these Standard Terms, if you die prior to
ninety (90) days after terminating your employment with the Corporation, the executor of
your will or administrator of your estate may exercise the option, to the extent not
previously exercised and to the extent the option had vested on or prior to the date of your
employment termination, at any time prior to 365 days from the date of your employment
termination.
	 
	 	 	The option shall terminate on the applicable expiration date
described in this Section 8, to
the extent that it is unexercised.
	 
	9.	 	DISABILITY
	 
	 	 	Except as expressly provided otherwise in these Standard Terms, following your termination
of employment due to Disablement, you may exercise the option, to the extent not previously
exercised and whether or not the option had vested on or prior to the date of employment
termination, at any time prior to 365 days from the later of the date of your termination of
employment due to your Disablement or the date of determination of your Disablement as
described in this Section 9; provided, however, that while the claim of Disablement is
pending, options that were unvested at termination of employment may not be exercised and
options

4.

 

	 	 	that were vested at termination of employment may be exercised only during the period set
forth in Section 7 hereof. The option shall terminate on the 365th day from the date of
determination of Disablement, to the extent that it is unexercised. For purposes of these
Standard Terms, “Disablement” shall be determined in accordance with the standards and
procedures of the then-current Long Term Disability Plan maintained by the Corporation or
the Subsidiary that employs you, and in the event you are not a participant in a
then-current Long Term Disability Plan maintained by the Corporation or the Subsidiary that
employs you, “Disablement” shall have the same meaning as disablement is defined in the
Intel Long Term Disability Plan, which is generally a physical condition arising from an
illness or injury, which renders an individual incapable of performing work in any
occupation, as determined by the Corporation.
	 
	10.	 	RETIREMENT
	 
	 	 	For purposes of by these Standard Terms, “Retirement” shall mean either Standard Retirement
or the Rule of 75, defined as follows:

	 	(a)	 	Standard Retirement means that you retire at or after age 60; or
	 
	 	(b)	 	Rule of 75 means that your age plus years of service with the Corporation (in
each case measured in complete, whole years) equals or exceeds 75.

	 	 	Following your Retirement from the Corporation, you may exercise the option at any time
prior to the second anniversary of your date of Retirement, to the extent that it had vested
as of your date of Retirement. The option shall terminate on the day before the second
anniversary of your date of Retirement, to the extent that it is unexercised.
	 
	11.	 	INCOME TAXES WITHHOLDING
	 
	 	 	Nonqualified stock options are taxable upon exercise. To the extent required by applicable
federal, state or other law, you shall make arrangements satisfactory to Intel for the
satisfaction of any withholding tax obligations that arise by reason of an option exercise
and, if applicable, any sale of shares of the Common Stock. Intel shall not be required to
issue shares of the Common Stock or to recognize any purported transfer of shares of the
Common Stock until such obligations are satisfied. The Committee may permit these
obligations to be satisfied by having Intel withhold a portion of the shares of the Common
Stock that otherwise would be issued to you upon exercise of the option, or to the extent
permitted by the Committee, by tendering shares of the Common Stock previously acquired.

5.

 

	12.	 	TRANSFERABILITY OF OPTION
	 
	 	 	Unless otherwise provided by the Committee, each option shall be transferable only:

	 	(a)	 	pursuant to your will or upon your death to your beneficiaries, or
	 
	 	(b)	 	by gift to your Immediate Family (defined below), partnerships whose only
partners are you or members of your Immediate Family, limited liability companies whose
only shareholders are you or members of your Immediate Family, or trusts established
solely for the benefit of you or members of your Immediate Family, or
	 
	 	(c)	 	by gift to a foundation in which you and/or members of your Immediate Family
control the management of the foundation’s assets.

	 	 	For purposes of these Standard Terms, “Immediate Family” is defined as your spouse or
domestic partner, children, grandchildren, parents, or siblings.
	 
	 	 	With respect to transfers by gift under subsection (b), options are transferable whether
vested or not at the time of transfer. With respect to transfers by gift under subsection
(c), options are transferable only to the extent the options are vested at the time of
transfer. Any purported assignment, transfer or encumbrance that does not qualify under
subsections (a), (b) and (c) above shall be void and unenforceable against the Corporation.
	 
	 	 	Any option transferred by you pursuant to this section shall not be transferable by the
recipient except by will or the laws of descent and distribution.
	 
	 	 	The transferability of options is subject to any applicable laws of your country of
residence or employment.
	 
	13.	 	DISPUTES
	 
	 	 	The Committee or its delegate shall finally and conclusively determine any disagreement
concerning your option.
	 
	14.	 	AMENDMENTS
	 
	 	 	The 2006 Plan and the option may be amended or altered by the Committee or the Board of
Directors of Intel to the extent provided in the 2006 Plan.
	 
	15.	 	THE 2006 PLAN AND OTHER AGREEMENTS; OTHER MATTERS

	 	(a)	 	The provisions of these Standard Terms and the 2006 Plan are incorporated into
the Notice of Grant by reference. You hereby acknowledge that a copy of the 2006 Plan
has been made available to

6.

 

	 	 	 	you. Certain capitalized terms used in these Standard Terms are defined in the 2006
Plan.
	 
	 	 	 	These Standard Terms, the Notice of Grant and the 2006 Plan constitute the entire
understanding between you and the Corporation regarding the option. Any prior
agreements, commitments or negotiations concerning the option are superseded.
	 
	 	 	 	The grant of an option to an employee in any one year, or at any time, does not
obligate Intel or any Subsidiary to make a grant in any future year or in any given
amount and should not create an expectation that Intel or any Subsidiary might make
a grant in any future year or in any given amount.
	 
	 	(b)	 	Options are not part of your employment contract (if any) with the Corporation,
your salary, your normal or expected compensation, or other remuneration for any
purposes, including for purposes of computing severance pay or other termination
compensation or indemnity.
	 
	 	(c)	 	Notwithstanding any other provision of these Standard Terms, if any changes in
the financial or tax accounting rules applicable to the options covered by these
Standard Terms shall occur which, in the sole judgment of the Committee, may have an
adverse effect on the reported earnings, assets or liabilities of the Corporation, the
Committee may, in its sole discretion, modify these Standard Terms or cancel and cause
a forfeiture with respect to any unvested options at the time of such determination.
	 
	 	(d)	 	Nothing contained in these Standard Terms creates or implies an employment
contract or term of employment upon which you may rely.
	 
	 	(e)	 	To the extent that the option refers to the Common Stock of Intel Corporation,
and as required by the laws of your country of residence or employment, only authorized
but unissued shares thereof shall be utilized for delivery upon exercise by the holder
in accord with the terms hereof.
	 
	 	(f)	 	Copies of Intel Corporation’s Annual Report to Stockholders for its latest
fiscal year and Intel Corporation’s latest quarterly report are available, without
charge, at the Corporation’s business office.
	 
	 	(g)	 	Because these Standard Terms relate to terms and conditions under which you may
purchase Common Stock of Intel, a Delaware corporation, an essential term of these
Standard Terms is that it shall be governed by the laws of the State of Delaware,
without regard to choice of law principles of Delaware or other jurisdictions. Any
action, suit, or proceeding relating to these Standard Terms or the option granted
hereunder shall be brought in the state or federal courts of competent jurisdiction in
the State of California.

7.

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