Google boosted Schmidt’s annual salary to $1.25 million on April 4 when he turned the CEO job over to co-founder Larry Page.

Schmidt is focusing on acquisitions and government relations as Google’s executive chairman.

The revised compensation package, filed with federal regulators on Tuesday, will pay Schmidt an annual bonus of up to $6 million.

Schmidt has an estimated net worth of $7 billion.

He had limited his salary to $1 and refused bonuses since 2004 despite the company’s offer to pay him more each year.