Compensation
Upon being hired at Google, Eric Schmidt was paid a salary of $250,000, and an annual performance bonus. He was granted 14,331,703 shares of class B common stock at 30 cents per share, and 426,892 shares of Series C preferred stock at purchase price of $2.34.
Schmidt and the Google founders agreed to a base salary of $1 in 2004 (which continued through 2010), with other compensation of $557,465 in 2006, $508,763 in 2008 and $243,661 in 2009. He did not receive any additional stock, or options in 2009 or 2010. Most of his compensation was for "personal security" and charters of private aircraft. Schmidt is one of the few people who became billionaires (in United States dollars) based on stock options received as an employee in a corporation of which he was neither the founder nor a relative of the founder. In its 2011 'World's Billionaires' list, Forbes ranked Schmidt as the 136th richest person in the world, with an estimated wealth of $7 billion. Google gave him $100 million in 2011 as a parting gift.
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