Intel CEO (INTC) Brian Krzanich took a massive pay cut in 2013.

Krzanich’s base salary in 2013 was $887,500 and his total pay was valued at about $9.6 million. In 2012, the Intel CEO had a lower base salary of $700,000 but his total pay was valued at a whopping $15.9 million.

Krzanich has been the Intel CEO since November 2012 when Paul Otellini stepped down. He received a $12.4 million stock award in 2012 and a $5.3 million stock award in 2013.

The company restructured its executives-compensation system in February in order to increase the number of management employees who are required to own stock.

INTC stock is up over 2% Thursday.