In its annual proxy filing with the SEC, Microsoft recorded this week the interesting fact that Bill Gates, while he may still own 10.09% of the company and still tops Forbes magazine's list of the world's richest people, doesn't get paid the most among Redmond's top execs.

Neither does Steve Ballmer.

Both gentlemen received, in the 2004 fiscal year (the 12-month period ended June 30), just $901,667 - made up of a base salary of $591,667 and a bonus of $310,000.

Who, then, emerges in the SEC filing as the top earner? None other than Group Vice President Jeff Raikes, responsible for Microsoft's Office products. He received $962,500 in bonus and base pay.

On June 30, 2006, Raikes will additionally be among those who can receive stock awards as part of a new program to reward executives based on metrics that include customer satisfaction. He will be eligible to receive as many as 1.17 million shares, as will Group Vice President Jim Allchin, the man in charge of Windows.