Exhibit 99.2
PSO E-mail
GOLD
GOLD
March 23, 2009
To: All Intel Employees
I am pleased to provide you with more details about the stock-related announcements I made earlier
today during a live employee Open Forum.* But first I’d like to share with you my perspective on
Intel, what’s happening around us and why I felt it was important to make this investment in you at
this time.
Intel is a strong company today. And as I look ahead, even amid these unprecedented business
conditions, I continue to be optimistic about our future. For Intel to win and emerge from this
economic crisis in a stronger position, we must not only continue our investments in technology and
products, but also invest in our people.
Why? Because investing in our employees is the best way to deliver on our long-term commitment to
competitiveness. I believe it is very important that you share in the long-term success of the
company that you commit yourselves to every day.
Here’s an overview of our announcement:
| 1. | Investment Stock Grant: Intel is granting all eligible employees a special, one-time stock award that will have the same composition as the Focal stock grant you will receive this year. In effect, this doubles the grant size you would have otherwise been awarded. Your manager will provide your individual amounts in the next few weeks. It is important to note that both the Investment grant and Focal grant will be delivered on a meritocratic basis. This is one of the reasons we are having a normal review cycle in a year when we are suspending Focal pay raises and promotions. | |
| 2. | Increase in Focal RSU grant size for non-exempt employees: We are increasing Focal RSU grants to more meaningful levels, about double the current size. If this applies to you, your manager will provide the details of your grant during your Focal performance review. Your Investment Stock Grant will also reflect the new level of Focal RSUs. | |
| 3. | Stock Option Exchange Program: In May we will ask for stockholder approval of a stock option exchange program. Under the program, employees will be given the opportunity to exchange previously granted, “underwater” options for a smaller number of new options at the market price on the date of exchange. This exchange is based upon a “value for value” program which we believe has a good chance of receiving stockholder approval. Barring significant market changes—for example, if the stock price recovers enough to make the exchange unproductive—implementation of this program, which is voluntary for employees, is planned for Q4 in countries eligible to participate. More details will be provided as we approach that time. |
You help make Intel the great company it is, and I’m pleased to be able to make this long-term
investment in you, especially during these uncertain times. I would like to extend a challenge to
all of us: let’s stay focused on what we need to do to power through this downturn together. I’m
proud of what we’ve already accomplished, and I look forward to what we can do together in the
future.
Paul
Paul S. Otellini
President and Chief Executive Officer
President and Chief Executive Officer
| • | Check Circuit later today for a recap of Paul’s Open Forum and a link to the webcast replay. | ||
| • | Click here for important legal information |