Incoming Intel Corp. Chief Executive Officer Lip-Bu Tan, who was named to the position this week, will receive compensation valued at about $69 million if he reaches targets over the coming years.

The package includes a salary of $1 million, plus a 200% performance-based bonus, the chipmaker said in a filing Friday. It also includes $66 million in long-term equity awards and stock options and new-hire incentives.

Separately, Tan agreed to buy $25 million in Intel shares in the first 30 days of taking the job. “Lip-Bu’s purchase reflects his belief in Intel and commitment to creating shareholder value.

Source: FINANCE.YAHOO