The cash bonus is “in recognition of his contributions to Google’s performance in fiscal year 2013,” the company said in a regulatory filing. In 2013, Google shares climbed 55 percent and joined the $1,000 club.
The large payment package came as the European Union is expected to announce a settlement with Google to end a three-year antitrust investigation — a deal in which Mr. Schmidt has been highly involved, even exchanging text messages with Joaquin Almunia, the European competition commissioner.
Mr. Schmidt’s compensation also follows a decision by Google’s board to allow Larry Page and Sergey Brin, Google’s founders, to cement their voting power over the company by creating a new class of shares.
The $100 million in stock options will vest over four years. It comes on top of another $100 million stock award the company gave Mr. Schmidt in 2011, soon after it announced that Mr. Page would replace Mr. Schmidt as chief executive.
Mr. Page, meanwhile, earns $1 a year in salary (though he is worth $25 billion, largely in Google stock, according to Forbes.)
Source Nytimes