The Securities and Exchange Commission says the semiconductor maker has agreed to the payment as part of a settlement for allegedly failing to publicly disclose the employee stock-option awards as expenses and backdating the options to dates with lower stock prices.

In reaching the settlement, Marvell admitted nor denied wrongdoing, but did agree to refrain from future violations of the securities laws.

The SEC alleged in a civil lawsuit that the alleged backdating scheme allowed Marvell to overstate its profit by 362 million dollars from fiscal years 2000 through 2006.