Intel Corp (INTC)

[Elmer Phud]

John -

There has to be a better way to align compensation and performance

But those options have been exercisable and in the money for 5 years. For all intents and purposes they were assets for those people for the last 5 years. It required no cash outlay and they could cash them in at any time. If they were mine, I would have considered them hard assets all along. They are not all of a sudden being rewarded. They were rewarded years ago and they just chose now to move the asset from one category to another. It's almost like having a check but waiting to cash it.

EP