It pays to walk away from Google.

The Internet search giant will pay $100 million to Eric Schmidt as the 55-year-old tech exec gives up his CEO title to 37-year-old co-founder Larry Page, a company spokeswoman said.

The fat payout, which will include stock units and options to vest over the next four years, follows Google’s surprise announcement that Schmidt’s 10-year stint of giving “adult supervision” to Google’s computer genius co-founders Page and Sergey Brin had come to an abrupt end.

Schmidt, who in April will take on the role of executive chairman as he steps aside for Page, hasn’t sold any shares since 2007. Last week, prior to the announcement of Schmidt’s $100 million golden parachute, Google said the exec was slated to sell more than 500,000 shares over the next year under a preplanned trading program, which by current share prices would fetch $334 million.

Last month, Schmidt held a total of 9.2 million shares worth $5.8 billion, according to regulatory filings.