When Intel hired Gelsinger in 2021 to revive the chipmaker's fortunes, he received a pay package that would have been worth as much as $206 million if he had met performance targets.

Intel stock dropped 6% on Tuesday as investors reacted to the CEO's departure. Wall Street analysts say there's more uncertainty ahead for the chip maker.

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