Google says it has awarded $100 million worth of equity to outgoing CEO Eric Schmidt, the Associated Press reports. Google Inc. said in a filing on Monday the stock and stock options will be granted on Feb. 2 and will vest over four years. The 55-year-old Schmidt is being replaced as Google's CEO by co-founder Larry Page. Both men, along with Google's other co-founder Sergey Brin, have limited their salaries to $1 for years. But the three are Google's controlling shareholders…

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About the Author:

Meris Stansbury

Meris Stansbury is the Editorial Director for both eSchool News and eCampus News, and was formerly the Managing Editor of eCampus News. Before working at eSchool Media, Meris worked as an assistant editor for The World and I, an online curriculum publication. She graduated from Kenyon College in 2006 with a BA in English, and enjoys spending way too much time either reading or cooking.