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Otellini scores as he doodles at Google
Intel CEO Paul Otellini may only take home an annual salary of $700 000 – minus share options – from the chip giant, but he's got a nice little earner on the side as a board member of Google which, in the three years he's served, has secured him a windfall of $22,3-million.
The Mercury News explains that while Google board members don't receive cash compensation for their time, they are instead paid in Google stock. Otellini, it adds, was granted an option when he joined the board in April 2004 to buy 65 000 shares for $35 a share, or $2,28-million. During its IPO in August of that year, an auction process priced Googgle shares at $85. It has soared since then.