AMD Cuts CEO Pay in 2009

CEO Dirk Meyer's pay package shrinks by 14% in 2009.
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SUNNYVALE, Calif. (

TheStreet

) --

Advanced Micro Devices'

(AMD) - Get Report

CEO saw his pay package decline by 14% in 2009, a year in which the chipmaker's sales fell.

CEO Dirk Meyer received total compensation worth $4.55 million last year, down from $5.27 million in 2008, according to a

proxy filing

the company made with the

Securities and Exchange Commission

Friday.

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The 2009 package included a salary of $792,685, down from $856,732 in 2008; stock awards worth $1.80 million, down from $2.46 million; stock options worth $1.90 million, down from $1.93 million; as well as other, smaller components.

AMD shares closed Friday's session up 11 cents at $8.61.

This article was written by a staff member of TheStreet.com.