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Google gives Eric Schmidt 124,999,900% salary increase

Then sets him to work interviewing Tina Fey

Top three mobile application threats

Google has rewarded Eric Schmidt for shifting from the CEO's office to exec chairman by bumping up his salary from $1 to $1.25m.

The company's latest filing at the SEC shows that Schmidt will also qualify for a bonus of 400 per cent of that salary.

The filing also details the move of Alan Eustace from senior VP of engineering and research to senior VP knowledge, and Shona Brown from senior VP business operations to senior VP of Google.org.

The filing adds that "Alan and Shona were among Google's named executive officers as of December 31, 2010, but will not have executive officer responsibilities in their new positions."

Schmidt's responsibilities, on the other hand, are already reflecting his newly engorged salary.

Today he tweeted that he will be interviewing Saturday Night Live alumnus, comedy giant and Geek pinup Tina Fey.

Actually, the salary figure is pretty inconsequential compared to the value of his Google stock. As the WSJ points out, Schmidt is perched on a mountain of shares worth just shy of $6bn.

You'd think he'd be able to pay Fey to interview him. ®

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