Eric Schmidt, Google's former CEO and new executive chairman, has been handed a huge pay raise, according to a document that Google filed yesterday with the Securities and Exchange Commission.
According to the filing, Google's Leadership Development and Compensation Committee has granted Schmidt annual compensation of $1.25 million. In addition, he will be allowed to receive a "target bonus of 400 percent of his base salary." In other words, Schmidt could walk away with more than $6 million in cash compensation in a good year.
Schmidt's raise is effective as of April 4, the … Read more