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This paper presents new image sensors with multi- bucket pixels that enable time-multiplexed exposure, an alter- native imaging approach. This approach deals nicely with scene motion, and greatly improves high dynamic range imaging, structured light illumination, motion corrected photography, etc. To implement an in-pixel memory or a bucket, the new image sensors incorporate the virtual phase CCD concept into a standard 4-transistor CMOS imager pixel. This design allows us to create a multi-bucket pixel which is compact, scalable, and supports true correlated double sampling to cancel kTC noise. Two image sensors with dual and quad-bucket pixels have been designed and fabricated. The dual-bucket sensor consists of a 640H × 576V array of 5.0 μm pixel in 0.11 μm CMOS technology while the quad-bucket sensor comprises 640H × 512V array of 5.6 μm pixel in 0.13 μm CMOS technology. Some computational photography applications were implemented using the two sensors to demonstrate their values in eliminating artifacts that currently plague computational photography.