Here is something you don't read every day: Internet search giant Google (GOOG) announced that it froze salaries for its top executives in 2008 and cut their bonuses a bit. In the company's annual regulatory filing, Google stated that it kept salaries for executives (other than its CEO and cofounders) at $450,000, after an increase from $250,000 in 2007. In addition, Google gave no "equity awards" last year.
The company's new chief financial officer, Patrick Pichette, who was hired in June, did receive $1 million in a signing bonus and a rather large award of stock options. Google stated that the awards were to "recognize the immediate contribution he has made upon joining." The CFO was awarded 68,000 stock options (twice the amount of any other exec) at $318.92 per share.