Google’s Schmidt to earn $1.25 million salary

WASHINGTON—Eric Schmidt, who stepped down this month as Google’s chief executive, will earn a salary of $1.25 million a year in his new role as executive chairman of the Internet search and advertising giant.

Schmidt, who was replaced as CEO by Google co-founder Larry Page on April 4, can earn up to $6 million in 2011 through bonus payments, Google said in a filing with the US Securities and Exchange Commission.

As CEO, Schmidt earned a token salary of $1, the same amount pulled in by Page and Google’s other co-founder, Sergey Brin.

Google awarded Schmidt $100 million in stock and stock options after he stepped down as CEO.