Intel's newly departed ex-CEO Pat Gelsinger could be walking away with more than $10 million in severance pay.

Former Intel CEO Pat Gelsinger is in line to receive millions of dollars in severance following his decision to step down from the struggling chipmaker, according to company filings.

When Intel hired Gelsinger in 2021 to revive the chipmaker’s fortunes, he received a pay package that would have been worth as much as $206 million if he had met performance targets.