Intel and AMD middle of this month the company announced an agreement to reach a comprehensive settlement, Intel agreed to pay a total of 1.25 billion U.S. dollars settle all legal disputes between the parties, including AMD's antitrust litigation and patent cross-license between the parties dispute.
Subsequently, AMD announced a series of actions to reduce the debt due in 2012 to 485 million U.S. dollars, and will reduce the total debt burden of 890 million U.S. dollars. In addition, AMD has also decided to increase the company executives at all levels of pay. In the last week submitted to the U.S. Securities and Exchange Commission documents, said AMD, mainly the salaries of senior management will be restored to its original level, accompanied by massive layoffs earlier this year, AMD executives have also suffered a pay cut.
The pay adjustments, AMD CEO Dirk Meyer basic wage from the 720,000 U.S. dollars to 90 million, Chief Operating Officer Robert Rivet basic wage from the 552,000 U.S. dollars to 65 million, Executive Vice President Tom mcCoy increased from 462 400 544 thousand U.S. dollars. AMD said that the basic salary as annual bonus and certain proportions, so the restoration of basic salary will increase after the company's bonus expenses in fiscal 2009.
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