New Google Board Member Gets $1 Million For Joining

Diane Greene updated

[credit provider=”Mark Aronica with permission” url=””]

Former VMWare leader Diane Greene is getting a one-time payment of $1 million in Google stock for joining Google’s board of directors.That’s according to Google’s offer letter, which was filed with the SEC.

The stock has a five year vesting schedule, so she has to stick around that long to get it all.

She’ll also get another $75,000 per year, plus an annual stock grant of $350,000, which is Google’s standard pay for non-employee directors.

To earn that pay, Greene will have to show up — or at least call in — to four board meetings a year, and take calls on other matters as needed:

We typically hold at least four one-day Board meetings per year. Board meetings are generally held on-site at Google and we would hope that your schedule would permit you to attend all of the meetings in person (note that telephonic attendance is also possible). In addition, there may be telephonic calls to address special projects that arise from time to time.

Nice work if you can get it!

She’s also replacing John Doerr on the board’s Audit Committee, the company’s filing revealed.