"Google plans to start paying non-employee directors on its board in cash, just after tossing them a hefty restricted stock award.
In a filing with the SEC Friday, Google revealed that it will be breaking with tradition by deciding to pay directors not employed by the company US$75,000 a year in cash and US$350,000 a year in restricted stock grants. In addition, those non-employee board members (John Doerr, John Hennessey, Arthur Levinson, Paul Otellini, Ram Shriram, Ann Mather, and Shirley Tilghman) will also receive a one-time stock award worth US$500,000, though Mather and Tilghman will have to wait awhile to participate in the new compensation plan because their previous stock awards have not fully vested. ...."
Link: http://www.zdnetasia.com/news/business/0,39044229,62056774,00.htm
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