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.

Intel may have ousted CEO Pat Gelsinger, but he’s leaving the company with a significant payday.

Gelsinger spent most of his career at Intel, rising to chief technology officer before leaving to run VMWare in 2012 and then returning as CEO in 2021. He was generally well respected by Wall Street and industry insiders, but on his watch, the stock underperformed the market as Intel lost ground in the AI race to Nvidia.