Alphabet Inc and Google LLC CEO Sundar Pichai will receive $240 million or ₹17,21,29,76,000 in stock awards over the next three years if he reaches all his performance targets.
After declining $58 million or Rs 405 crores in May, 2019 this is the first time that Pichai's future salary will have an annual increase.
The announcement of a pay raise was made in a Securities Exchange Commission filing by Alphabet.
The filing also stated that he will also receive two other stock grants, of $120 million and $30 million, neither tied to his performance but kept as a reward for his continued employment.
After signalling the end of their era of contribution, both Larry Page and Sergey Brin decided to put their complete faith in Pichai and handed over the position of the CEO for Alphabet Inc.