Document:

Exhibit 10.20

                      INTEL CORPORATION
             NONQUALIFIED STOCK OPTION AGREEMENT
            UNDER THE 2006 EQUITY INCENTIVE PLAN
  (for options granted after May 17, 2006 under the ELTSOP
                       option program)

1.   TERMS OF OPTION

     This   Nonqualified   Stock   Option   Agreement   (this
     "Agreement"),  the  Notice of  Grant  of  Stock  Options
     delivered herewith (the "Notice of Grant") and the Intel
     Corporation  2006  Equity  Incentive  Plan  (the   "2006
     Plan"),  as such may be amended from time to  time,  set
     forth  the terms of your option identified in the Notice
     of Grant for grants formerly known as ELTSOP grants.  As
     used   herein,  the  "Corporation"  shall   mean   Intel
     Corporation and its Subsidiaries.

2.   NONQUALIFIED STOCK OPTION

     This  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 this option (the "option  price")
     is 100% of the market value of the common stock of Intel
     Corporation  ("Intel"),  $.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   this
     Agreement  and  the requirements of this Agreement,  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 9 hereof, no part of the option  may
     be  exercised  after ten (10) years  from  the  date  of
     grant.

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     The  process  for  exercising the option  (or  any  part
     thereof)  is governed by this Agreement, 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 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  if  such
     delivery is prohibited by the laws of the United  States
     or  your  country of residence or employment.   If  such
     delivery is prohibited at the time that all or  part  of
     the  option is exercised, then such exercise may be made
     only  in  accordance  with Intel's  "cashless  exercise"
     procedure, to the extent permitted under the laws of the
     United   States  and  your  country  of   residence   or
     employment.

     Notwithstanding  anything  to  the  contrary   in   this
     Agreement  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.

5.   LEAVES OF ABSENCE

     (a)  Except  as  expressly provided  otherwise  in  this
          Agreement, 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:

<PAGE>

               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

               b.   Any part of the option that had not vested at the
                    commencement of the PLOA and would not have vested
                    during the PLOA will 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, however, in no event shall the term of the option be
               extended beyond ten (10) years from the date of grant.  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 9
               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 9 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 9 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

<PAGE>

     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   this
     Agreement,   if  your  employment  by  the   Corporation
     terminates  for  any  reason,  whether  voluntarily   or
     involuntarily,  other  than death, Disablement  (defined
     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  the  Corporation,  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   this
     Agreement, 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   this
     Agreement,  if you die prior to ninety (90)  days  after
     termination of 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

<PAGE>

     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   this
     Agreement, 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 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   this    Agreement,
     "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.  INCOME TAXES WITHHOLDING

     You  will be subject to taxation in accordance with  the
     tax  laws  of  the  country where you  are  resident  or
     employed.  If you are an U.S. citizen or expatriate, you
     may  also  be  subject to U.S. tax laws. To  the  extent
     required by applicable federal, state, local or  foreign
     law,  you shall make arrangements satisfactory to  Intel
     (or  the Subsidiary that employs you, if your Subsidiary
     is  involved in the administration of the 2006 Plan) for
     the satisfaction of any withholding tax obligations that
     arise  by  reason of an option exercise or 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

<PAGE>

     extent permitted by the Committee,
     by  tendering  shares  of  the Common  Stock  previously
     acquired.

11.  NON-TRANSFERABILITY OF OPTION

     You  may  not assign or transfer this option  to  anyone
     except pursuant to your will or upon your death to  your
     beneficiaries. The transferability of options is subject
     to  any applicable laws of your country of residence  or
     employment.

12.  DISPUTES

     The   Committee  or  its  delegate  shall  finally   and
     conclusively determine any disagreement concerning  your
     option.

13.  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.

14.  DATA PRIVACY

     You   explicitly  and  unambiguously  consent   to   the
     collection,  use  and transfer, in electronic  or  other
     form,  of  your  personal  data  as  described  in  this
     document by the Corporation for the exclusive purpose of
     implementing,    administering   and    managing    your
     participation in the 2006 Plan.

     You hereby understand that the Corporation holds certain
     personal  information  about  you,  including,  but  not
     limited  to,  your  name,  home  address  and  telephone
     number, date of birth, social insurance number or  other
     identification number, salary, nationality,  job  title,
     any  shares  of  stock  or  directorships  held  in  the
     Corporation,  details  of  all  options  or  any   other
     entitlement  to  shares  of  stock  awarded,   canceled,
     exercised,  vested,  unvested  or  outstanding  in  your
     favor,  for  the purpose of implementing,  administering
     and   managing  the  2006  Plan  ("Data").   You  hereby
     understand  that Data may be transferred  to  any  third
     parties  assisting in the implementation, administration
     and  management of the 2006 Plan, that these  recipients
     may  be  located in your country or elsewhere, and  that
     the  recipient's country may have different data privacy
     laws  and  protections than your  country.   You  hereby
     understand  that you may request a list with  the  names
     and addresses of any potential recipients of the Data by
     contacting  your  local human resources  representative.
     You  authorize the recipients to receive, possess,  use,
     retain  and  transfer the Data, in electronic  or  other
     form,  for  the  purposes of implementing, administering
     and

<PAGE>

     managing  your  participation  in  the  2006  Plan,
     including any requisite transfer of such Data as may  be
     required to a broker or other third party with whom  you
     may elect to deposit any shares of Common Stock acquired
     under  your  options.  You hereby understand  that  Data
     will  be held only as long as is necessary to implement,
     administer  and manage your participation  in  the  2006
     Plan.   You hereby understand that you may, at any time,
     view  Data,  request  additional information  about  the
     storage  and  processing of Data, require any  necessary
     amendments  to Data or refuse or withdraw  the  consents
     herein,  in  any  case without cost,  by  contacting  in
     writing your local human resources representative.   You
     hereby understand, however, that refusing or withdrawing
     your  consent may affect your ability to participate  in
     the 2006 Plan.  For more information on the consequences
     of your refusal to consent or withdrawal of consent, you
     hereby  understand  that  you  may  contact  the   human
     resources representative responsible for your country at
     the local or regional level.

15.  THE 2006 PLAN AND OTHER AGREEMENTS; OTHER MATTERS

     (a)  The provisions of this Agreement 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 you.  Certain capitalized
          terms used in this Agreement are defined in the 2006 Plan.

          This  Agreement, 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 this Agreement,
          if any changes in the financial or tax accounting rules
          applicable to the options covered by this Agreement shall
          occur which, in the sole judgment of the Committee, may have
          an adverse effect on the

<PAGE>

          reported earnings, assets or

liabilities of the Corporation, the Committee may, in its
          sole discretion, modify this Agreement or cancel and cause a
          forfeiture with respect to any unvested options at the time
          of such determination.

     (d)  Nothing contained in this Agreement 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, 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 this Agreement relates to terms and conditions
          under which you may purchase Common Stock of Intel, a
          Delaware corporation, an essential term of this Agreement 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 this Agreement or the option granted
          hereunder shall be brought in the state or federal courts of
          competent jurisdiction in the State of California.Exhibit 10.21

                        INTEL CORPORATION
               NONQUALIFIED STOCK OPTION AGREEMENT
              UNDER THE 2006 EQUITY INCENTIVE PLAN
 (for options granted after May 17, 2006 under the ELTSOP option
                            program)

1.   TERMS OF OPTION

     This Nonqualified Stock Option Agreement (this "Agreement"),
     the Notice of Grant of Stock Options delivered herewith (the
     "Notice  of  Grant") and the Intel Corporation  2006  Equity
     Incentive  Plan  (the "2006 Plan"), as such may  be  amended
     from  time  to  time,  set forth the terms  of  your  option
     identified in the Notice of Grant for grants formerly  known
     as  ELTSOP grants.  As used herein, the "Corporation"  shall
     mean Intel Corporation and its Subsidiaries.

2.   SIGNATURE

     If you fail to electronically sign this Agreement within 180
     days  of the Grant Date, the options subject to your  Notice
     of  Grant  will  be cancelled, except as determined  by  the
     Corporation in its sole discretion.  Signing this  agreement
     does not obligate you to exercise the option or purchase any
     shares.

3.   NONQUALIFIED STOCK OPTION

     This  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.

4.   OPTION PRICE

     The  exercise price of this option (the "option  price")  is
     100%  of  the  market  value of the common  stock  of  Intel
     Corporation ("Intel"), $.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.

5.   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  this  Agreement   and   the
     requirements of this Agreement, the Notice of Grant and  the
     2006 Plan, you may

<PAGE>

     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  6 or Sections 8 through 10 hereof, no part  of  the
     option  may be exercised after ten (10) years from the  date
     of grant.

     The  process for exercising the option (or any part thereof)
     is governed by this Agreement, 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  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 if such delivery  is
     prohibited by the laws of the United States or your  country
     of  residence or employment.  If such delivery is prohibited
     at  the  time  that all or part of the option is  exercised,
     then  such  exercise  may be made only  in  accordance  with
     Intel's   "cashless  exercise"  procedure,  to  the   extent
     permitted  under  the  laws of the United  States  and  your
     country of residence or employment.

     Notwithstanding anything to the contrary in this Agreement
     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.

6.   LEAVES OF ABSENCE

     (a)  Except  as  expressly  provided  otherwise  in   this
          Agreement, 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 6:

          (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.

<PAGE>

          (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

               b.   Any part of the option that had not vested at the
                    commencement of the PLOA and would not have vested
                    during the PLOA will 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,
               however, in no event shall the term of the option be
               extended beyond ten (10) years from the date of grant.
               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 9

               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 8 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 9 and 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.

7.   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

<PAGE>

     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.

8.   TERMINATION OF EMPLOYMENT

     Except as expressly provided otherwise in this Agreement, if
     your employment by the Corporation terminates for any
     reason, whether voluntarily or involuntarily, other than
     death, Disablement (defined 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 8, your  employment  is  not
     deemed  terminated if, prior to sixty (60)  days  after  the
     date of termination from the Corporation, 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.

9.   DEATH

     Except as expressly provided otherwise in this Agreement, 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 this Agreement, if
     you  die prior to ninety (90) days after termination of 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 9, to the extent that it is
     unexercised.

<PAGE>

10.  DISABILITY

     Except  as  expressly provided otherwise in this  Agreement,
     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 10; provided, however, that while the claim  of
     Disablement  is  pending,  options  that  were  unvested  at
     termination  of employment may not be exercised and  options
     that  were  vested  at  termination  of  employment  may  be
     exercised  only  during the period set forth  in  Section  8
     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  this  Agreement,
     "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.

11.  INCOME TAXES WITHHOLDING

     You  will be subject to taxation in accordance with the  tax
     laws of the country where you are resident or employed.   If
     you  are  an  U.S. citizen or expatriate, you  may  also  be
     subject  to  U.S.  tax  laws.  To  the  extent  required  by
     applicable federal, state, local or foreign law,  you  shall
     make  arrangements satisfactory to Intel (or the  Subsidiary
     that  employs  you, if your Subsidiary is  involved  in  the
     administration of the 2006 Plan) for the satisfaction of any
     withholding  tax  obligations that arise  by  reason  of  an
     option  exercise or 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.

12.  NON-TRANSFERABILITY OF OPTION

     You  may not assign or transfer this option to anyone except
     pursuant   to  your  will  or  upon  your  death   to   your
     beneficiaries. The transferability of options is subject  to
     any  applicable  laws  of  your  country  of  residence   or
     employment.

13.  DISPUTES

<PAGE>

     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.  DATA PRIVACY

     You  explicitly and unambiguously consent to the collection,
     use  and  transfer,  in electronic or other  form,  of  your
     personal  data  as  described  in  this  document   by   the
     Corporation  for  the  exclusive  purpose  of  implementing,
     administering and managing your participation  in  the  2006
     Plan.

     You  hereby  understand that the Corporation  holds  certain
     personal  information about you, including, but not  limited
     to,  your name, home address and telephone number,  date  of
     birth,  social  insurance  number  or  other  identification
     number, salary, nationality, job title, any shares of  stock
     or  directorships held in the Corporation,  details  of  all
     options or any other entitlement to shares of stock awarded,
     canceled, exercised, vested, unvested or outstanding in your
     favor,  for  the purpose of implementing, administering  and
     managing the 2006 Plan ("Data").  You hereby understand that
     Data  may  be transferred to any third parties assisting  in
     the  implementation, administration and  management  of  the
     2006  Plan,  that  these recipients may be located  in  your
     country  or elsewhere, and that the recipient's country  may
     have  different data privacy laws and protections than  your
     country.  You hereby understand that you may request a  list
     with the names and addresses of any potential recipients  of
     the   Data   by   contacting  your  local  human   resources
     representative.   You authorize the recipients  to  receive,
     possess, use, retain and transfer the Data, in electronic or
     other  form, for the purposes of implementing, administering
     and  managing your participation in the 2006 Plan, including
     any requisite transfer of such Data as may be required to  a
     broker  or  other  third party with whom you  may  elect  to
     deposit  any  shares  of Common Stock  acquired  under  your
     options.  You hereby understand that Data will be held  only
     as  long as is necessary to implement, administer and manage
     your  participation in the 2006 Plan.  You hereby understand
     that  you  may,  at any time, view Data, request  additional
     information  about  the  storage  and  processing  of  Data,
     require  any  necessary amendments  to  Data  or  refuse  or
     withdraw  the consents herein, in any case without cost,  by
     contacting   in   writing   your   local   human   resources
     representative.   You  hereby  understand,   however,   that
     refusing or withdrawing your consent may affect your ability
     to  participate  in the 2006 Plan.  For more information  on
     the consequences of your refusal to consent or withdrawal of
     consent,  you

<PAGE>

     hereby understand that you  may  contact  the
     human  resources representative responsible for your country
     at the local or regional level.

16.  THE 2006 PLAN AND OTHER AGREEMENTS; OTHER MATTERS

     (a)  The  provisions of this Agreement 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 you.  Certain capitalized
          terms used in this Agreement are defined in the 2006 Plan.

          This  Agreement, 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 this Agreement, if
          any changes in the financial or tax accounting rules applicable
          to the options covered by this Agreement 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 this Agreement
          or cancel and cause a forfeiture with respect to any unvested
          options at the time of such determination.

     (d)  Nothing contained in this Agreement 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, 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 this Agreement relates to terms and conditions under
          which you may purchase Common Stock of Intel, a Delaware
          corporation, an

<PAGE>

          essential term of this Agreement 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 this Agreement or the
          option granted hereunder shall be brought in the state or federal
          courts of competent jurisdiction in the State of California.

By  your  electronic signature, you and Intel  Corporation  agree
that  the  options  under the ELTSOP program identified  in  your
Notice of Grant are governed by the terms of this Agreement,  the
Notice of Grant and the 2006 Plan.  You further acknowledge  that
you  have read and understand the terms of the options set  forth
in this Agreement.

FAILURE TO ELECTRONICALLY SIGN WITHIN 180 DAYS OF THE GRANT  DATE
WILL RESULT IN CANCELLATION OF THE OPTIONS (SEE SECTION 2 OF THIS
AGREEMENT).

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