<SEC-DOCUMENT>0000050863-15-000044.txt : 20150702
<SEC-HEADER>0000050863-15-000044.hdr.sgml : 20150702
<ACCEPTANCE-DATETIME>20150702090218
ACCESSION NUMBER:		0000050863-15-000044
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20150701
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150702
DATE AS OF CHANGE:		20150702

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTEL CORP
		CENTRAL INDEX KEY:			0000050863
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				941672743
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06217
		FILM NUMBER:		15967332

	BUSINESS ADDRESS:	
		STREET 1:		2200 MISSION COLLEGE BLVD
		STREET 2:		RNB-4-151
		CITY:			SANTA CLARA
		STATE:			CA
		ZIP:			95054
		BUSINESS PHONE:		4087658080

	MAIL ADDRESS:	
		STREET 1:		2200 MISSION COLLEGE BLVD
		STREET 2:		RNB-4-151
		CITY:			SANTA CLARA
		STATE:			CA
		ZIP:			95054
</SEC-HEADER>
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<DESCRIPTION>FORM 8-K
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<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">UNITED STATES<font style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font> SECURITIES AND EXCHANGE COMMISSION</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Washington, D.C. 20549</div>

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<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 12pt">FORM 8-K</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 16pt">CURRENT REPORT</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 16pt">Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 16pt">Date of Report (Date of earliest event reported):&#160; July 1, 2015</div>

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<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 8pt">INTEL CORPORATION</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(Exact name of registrant as specified in its charter)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 12pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">2200 Mission College Blvd., Santa Clara, California 95054-1549</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font> (Address of principal executive offices) (Zip Code)</div>

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</font> (Registrant's telephone number, including area code)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 16pt">(Former Name or Former Address, if Changed Since Last Report)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">see</font> General Instruction A.2. below):</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#9744;</font> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#9744;</font> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#9744;</font> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>

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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; TEXT-ALIGN: left">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Intel Corporation ("Intel") today announced that Renee J. James will retire from her position as President effective January 2016.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 12pt">On July 1, 2015, Intel entered into a&#160;transition agreement with Ms. James setting forth her responsibilities between the date of the agreement and the date of her retirement.&#160; Under the transition agreement, Intel will make a transition payment in the amount of four million dollars, less applicable withholding taxes, provided that Ms. James remains employed through January 2016 and subject to Ms. James executing a release.</div>

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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; TEXT-ALIGN: left">Regulation FD Disclosure.</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 12pt">The information in this report shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 12pt">The company's press release and internal announcement regarding&#160;Ms. James' departure and other personnel changes is furnished as Exhibit 99.1 to this Current Report on Form 8-K.</div>

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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; TEXT-ALIGN: left">Financial Statements and Exhibits.</td>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">(d)</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Exhibits.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The following exhibit is furnished as part of this Report:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt">Description</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Intel press release and internal announcement dated July 2, 2015</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 8pt; TEXT-INDENT: 36pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">INTEL CORPORATION</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">(Registrant)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">/s/ Suzan A. Miller</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Date: July 2, 2015</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Suzan A. Miller</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Vice President,</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Deputy General Counsel and</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Corporate Secretary</div>
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<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
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<div><u>Exhibit 99.1</u><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Intel Corporation</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">2200 Mission College Blvd.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Santa Clara, CA 95054-1549</div>

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<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Intel Announces Leadership Changes</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">SANTA CLARA, Calif., July 2, 2015 &#8211; Today Intel Corporation's CEO, Brian Krzanich, announced a series of leadership and organizational changes in a <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">message to employees</font>.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Intel President <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Ren&#233;e James</font> informed the board that she will be stepping down as President of Intel to pursue an external CEO role. She has agreed to stay at Intel until January in order to transition the Executive Office. In connection with today's news, James today distributed an <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">employee message</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;</font>about her plans.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">In addition, other leadership and organizational changes that are being made to streamline operations and better position Intel for growth include:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Arvind Sodhani</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">, President of Intel Capital, will retire in January after a distinguished 35-year career with the company. </font>President of Mergers and Acquisitions <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Wendell Brooks</font> will take an expanded role to also become President of Intel Capital. Merging these teams under one leader will allow clear focus across all investment opportunities for Intel.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">On July 1, the Intel Security organization &#8211; formerly the independent McAfee division &#8211; was formally integrated into Intel operations under the leadership of General Manager </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Chris Young</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">.&#160;This integration will deliver better technologies for our customers and more effective operations that enable Intel Security to advance the state of security across the industry.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Intel Communication and Devices Group General Manager <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Aicha Evans</font> has been elevated to the company's Management Committee, reflecting the leadership role she plays across Intel's business and the importance of communication and mobility to the company's growth strategy and product portfolio.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Josh Walden</font>, General Manager of Intel's New Technology Group, now leads all product and research teams that create and deploy new technology categories, such as interactive computing devices, perceptual computing and wearable devices. He is responsible for expanding the power of Moore's Law into entirely new categories.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Associated with these changes, Intel executives <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Hermann Eul</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Mike Bell</font> will leave the company after a transition period.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">"We are aligning our leadership structure to continue to become more efficient in order to deliver the benefits of our strategy even faster than before," said Krzanich.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">"Over the past 28 years, Ren&#233;e has contributed immeasurably to Intel," he continued. "On behalf of the Board and management team, we sincerely thank Ren&#233;e for her tireless efforts toward building the business that we have today, and we fully support her in this decision."</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">About Intel</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world's computing devices. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">As a leader in corporate responsibility and sustainability, Intel also manufactures the world's first commercially available "conflict-free" microprocessors. Additional information about Intel is available at </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">newsroom.intel.com</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">blogs.intel.com</font>, and about Intel's <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">conflict-free</font> efforts at <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">conflictfree.intel.com</font>.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: center">&#8211; 30 &#8211;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Intel and the Intel logo are trademarks of Intel Corporation in the United States and other countries.&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">*Other names and brands may be claimed as the property of others.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Laura Anderson</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Intel Media Relations</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">480-552-9020</div>

<div style="font-weight: normal; margin-bottom: 8pt; font-size: 10pt; font-family: 'Times New Roman', Times, serif; text-align: left;">laura.m.anderson@intel.com</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Bhargavi Wadhwa</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Intel Investor Relations</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">408-765-6469</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 5.06pt">&#160;</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">bhargavi.wadhwa@intel.com</div>
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<div style="TEXT-ALIGN: left">Brian Krzanich's Message to Employees&#160; (as referenced in the press release)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Subject: Leadership and organizational changes</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Intel Team:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Today we are announcing a set of leadership and organizational changes that streamline decision-making and increase velocity at Intel, two principles that have guided my organizational decisions since day one as CEO. I want to share my thoughts with you about these changes and what they mean to Intel's future.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">First, some context. As you know, our mission is to utilize the power of Moore's Law to bring smart, connected devices to every person on Earth. We are executing our strategy well, making bolder moves and moving faster. I want to mention a few examples.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">To speed product development in the client segment, we merged the tablet and long-term agreement phone teams with the PC Client Group to form the Client Computing Group, under Kirk Skaugen's leadership. To build better platforms and propagate SoFIA architectures, we integrated the modem groups, the China Platform Engineering Group (PEG) and Wireless Platform R&amp;D teams under a single Intel Communication &amp; Devices Group, led by General Manager Aicha Evans. Together these changes enabled us to present a unified voice to our client customers, get products to market faster, and bring better IP reuse and integration across our client platforms.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">In addition, we unified t</font>he worldwide Platform Engineering Group (PEG) under Amir Faintuch as its sole leader. Since its creation, PEG has made great progress in identifying new ways to enable silicon designs to outdo what's been done before, from low-cost devices to high-performance servers. This organization has introduced fundamental changes to how we develop products with greater integration and speed.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">We also formed the New Technologies Group (NTG) under Josh Walden. NTG aligns the work of Intel Labs, Perceptual Computing Group, New Business Initiatives organization and New Devices Group, providing a singular and strong focus on the emerging breadth of applications enabled by Moore's Law.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Today I am announcing additional changes that continue our drive for velocity and streamlined decision-making.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">First, I'd like to share that <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Ren&#233;e James</font> has decided to step down as Intel's President in January to pursue a CEO role outside of the company. While we are sorry to see her go, Andy Bryant, the Board of Directors and I fully support her in this decision and we respect her goals. Ren&#233;e has graciously agreed to stay with us through the end of the year<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Over the past 28 years, Ren&#233;e has contributed immeasurably to Intel, and on behalf of the Board and management team we sincerely thank her for her tireless efforts toward building the business that we have today.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Two years ago, Ren&#233;e signed on in the role of President to help me set up the Executive Office and develop and drive our strategy. Ren&#233;e's work as President has helped to prepare Intel for even greater success in the future. She has helped me move Intel forward with a clear strategy, new external talent and an intensive focus on diversity and leadership. Her transition work in the coming months will include transferring many key relationships and helping to reallocate her functions and initiatives.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">The Technology and Manufacturing Group led by Bill Holt and Sohail Ahmed, and Human Resources, led by Richard Taylor, will now report to me. These areas represent significant competitive advantages for Intel as we continue to attract and develop amazing talent to drive Moore's Law. The remainder of Ren&#233;e's direct reports will transition to other organizations, as noted in<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;</font>her message to Intel<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">After a distinguished and memorable 35-year career at Intel,&#160;Intel Capital President&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Arvind Sodhani</font>&#160;has decided to retire in January.&#160;Arvind transformed Intel Capital into the most successful technology venture capital group in the world, investing over $4 billion in more than 600 innovative technology startups.&#160;&#160;We look forward to celebrating Arvind's retirement with him later this year.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">As a result of Arvind's retirement, I am merging the Mergers and Acquisitions and Strategic Transactions Group with the Intel Capital organization under one leader to allow clear focus across all investment opportunities for Intel and our ecosystem. &#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><font style="FONT-WEIGHT: bold">Wendell Brooks</font> </font>will lead this merged group. Arvind and Wendell will continue to manage their respective teams until September, when the merged group will be jointly managed under Arvind and Wendell until Arvind's retirement.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">Finally, there are two aspects of our business that must be integrated across Intel's product portfolio and platforms: security and communications.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">On July 1, the Intel Security organization&#8212;formerly the independent McAfee division&#8212;was formally integrated into Intel operations under <font style="FONT-WEIGHT: bold"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Chris Young</font><font style="FONT-WEIGHT: normal">'s</font></font> leadership. This integration will deliver better technologies for our customers and more effective operations that enable Intel Security to advance the state of security across the industry.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">As the world becomes increasingly smart and connected, we must continue to expand our wireless communications innovations across all Intel compute platforms.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #ff0000"><strike>&#160; </strike></font>Effective immediately, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Aicha Evans </font>will join Intel's Management Committee (MCM). Her appointment is a reflection of the role that communications plays across Intel's product portfolio and platforms.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">In addition to these changes, I have two other transitions to announce.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Having successfully led both our Mobile &amp; Communications Group and the New Devices Group that is now part of NTG, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Mike Bell</font>&#160;has decided to retire from Intel later this year. Mike's leadership help put Intel on the map in wearable technology, forging new relationships with top global brands.&#160; I am grateful to Mike for bringing vision and passion to his work, to his team and to Intel. &#160;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">For a number of months,<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"> Hermann Eul</font> has worked closely with Kirk to merge the Mobile &amp; Communications and Client Computing groups. As the transition is now complete, Hermann will pursue opportunities outside of Intel when his contract expires in 2016. Since joining Intel to lead the transition of the Infineon Wireless team, Hermann has led many organizations through change and contributed in numerous ways to Intel's success. Throughout his Intel career, Hermann has been a role model leader exemplifying the highest degrees of integrity, commitment and "Intel First" in everything he did. Please join me in thanking Hermann for his many contributions and wishing him well in his future endeavors.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">I know management changes can be distracting, but it is critical that we remain focused on what we do best: delivering amazing products and experiences to our customers.&#160; We will take some time to talk through these changes and to answer your questions at the July 15<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Business Update Meeting.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">I firmly believe that it is this collective team&#8212;Intel employees around the world&#8212;that makes our mission a reality. Thank you. Let's keep our momentum going strong.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Brian</div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
