Google's Eric Schmidt Gets A $1.25 Million Raise

According to an April 13th Securities and Exchange Commission filing, Google Executive Chairman Eric Schmidt is getting a huge raise.

As CEO (before stepping down from the role in January), Schmidt was only bringing in $1 annually, and Google's Board of Directors recently approved a new $1.25 million salary with a possible bonus of up to 400-percent.

Life wasn't too difficult for Schmidt during his ten years as CEO -- he's got loads of Google stock and Forbes ranked him as the 52nd richest American last year with his $4 billion net worth.

The AFP notes, "Schmidt, who was replaced as CEO by Google co-founder Larry Page on April 4, can earn up to $6.0 million in 2011 through bonus payments, Google said in a filing with the US Securities and Exchange Commission."