Google CFO could be millionaire in months

Patrick Pichette stands to pull in more than $2 million in his first year as Google's CFO--and that's before stock grants and options.

It looks like Patrick Pichette, Google's new chief financial officer , will be rewarded for his new job with up to $2.125 million after the first year if he earns his full bonus.

Patrick Pichette Bell Canada

According to his employment offer letter, filed with the Securities and Exchange Commission, Pichette will receive a salary of $450,000 and an annual bonus up to one and half times that amount.

Pichette also gets a signing bonus of $500,000 and another cash bonus of $500,000 after 6 months at the search and advertising giant--though he must pay a prorated amount back if he decides to leave within a year. However, if Google terminates his job within the first 6 months, he'll get the cash bonus right away.

Stock options also are a part of the package. He'll get an option to 11,112 shares of Class A common stock, vesting over a four-year period. He'll also get 5,556 "Google stock units," vesting over a four-year period. At the end of that, the units convert to Google Class A shares.

He'll also get 910 Google stock units that will vest in 6 months and another 910 that vest in 12 months. They also convert into Class A shares.

Pichette, who had been president of operations at Bell Canada, starts at Google August 1 and will formally become CFO on August 12, Google said Wednesday.

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About the author

Stephen Shankland has been a reporter at CNET since 1998 and covers browsers, Web development, digital photography and new technology. In the past he has been CNET's beat reporter for Google, Yahoo, Linux, open-source software, servers and supercomputers. He has a soft spot in his heart for standards groups and I/O interfaces.

 

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