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

Gelsinger's severance is in line with the terms of his CEO employment agreement with Intel "in the event Mr. Gelsinger's employment is terminated by Intel without 'Cause' or he voluntarily resigns for Good Reason." It starts with a payment of 18 months of his annual base salary of $1.25 million, yielding nearly $1.9 million.

On Monday, Intel announced that its CEO Pat Gelsinger was stepping down from his post after more than three years.

Computer chip maker Intel announced the retirement of chief executive Pat Gelsinger on Monday, raising new questions about the company’s future even as the United States is set to give it billions of dollars to build up the country’s ability to manufacture chips at home.

Intel Chief Executive Pat Gelsinger retired abruptly, ending a nearly four-year run that saw the chip maker fall behind rivals in building semiconductors to power the artificial-intelligence boom. The company on Monday said it named Chief Financial Officer David Zinsner and Michelle Johnston Holthaus,

Gelsinger’s departure caps a challenging period for Intel, which has fallen behind competitors like Nvidia. After a largely disappointing year for Intel, the company’s stock has seen a modest jump this morning in the wake of an announcement that CEO Pat Gelsinger is retiring—effective immediately.