Intel 1996 Annual Report Download - page 31

Download and view the complete annual report

Please find page 31 of the 1996 Intel annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 74

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74

1 Exhibit 10.2
INTEL CORPORATION
1988 EXECUTIVE LONG TERM
STOCK OPTION PLAN
(Amended and Restated Effective as of March 26, 1997)
1. PURPOSE
The purpose of this amended and restated Intel Corporation 1988 Executive Long Term Stock Option Plan (the "Plan") is to advance the
interests of Intel Corporation, a Delaware corporation and its subsidiaries (hereinafter collectively "Intel" or the "Corporation"), by stimulating
the efforts of certain key employees employed by Intel and heightening the desire of such key employees to continue in employment with Intel.
The stock options granted pursuant to this Plan are non-qualified stock options and shall not be incentive stock options, as defined in Section
422 of the Internal Revenue Code of 1986, as amended (the "Code"). This amended and restated Plan includes the individual grant limitations
required by Section 162(m) of the Code for the option income of certain individuals to be tax deductible by the Corporation.
2. DEFINITIONS
(a) "Board of Directors" means the Board of Directors of the Corporation.
(b) "Committee" means the Compensation Committee appointed by the Board of Directors in accordance with Section 11.
(c) "Disablement" shall have the meaning specified by the Committee in the terms of an option grant or, in the absence of any such term, shall
mean a physical condition arising from an illness or injury which renders an individual incapable of performing work. The determination of the
Committee as to an individual's Disablement shall be conclusive on all of the parties.
(d) "Plan" means the Intel Corporation 1988 Executive Long Term Stock Option Plan, as amended and restated herein.
(e) "Retirement" shall have the meaning specified by the Committee in the terms of an option grant or, in the absence of any such term, shall
mean retirement from active employment with Intel (i) at or after age 55 and with the approval of the Committee or (ii) at or after age 65. The
determination of the Committee as to an individual's Retirement shall be conclusive on all parties.
(f) "Subsidiary" means any corporation in an unbroken chain of corporations beginning with Intel Corporation where each of the corporations
in the unbroken chain other than the last corporation owns stock possessing 50 percent or more of the total combined voting power of all
classes of stock in one of the other corporations in such chain.