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Google shareholders offer 3 proposals, and the board agrees with one

google_logo1Shareholders at Google have put forward three proposals of their own to be voted on at the company’s annual meeting, according to the search-engine’s proxy filed today with the SEC.

One,  offered by the Teamsters, proposes that the company be required to file semi-annual reports disclosing political contributions paid for with corporate funds.

A second proposal, offered on behalf of New York City’s public employee pension funds seeks the adoption of Internet policies governing Internet censorship and user privacy.

A third proposal offered the AFL-CIO Reserve Fund to “urge” the company’s board of directors to “adopt priniciples for health care reform” including universal coverage.

Google’s board of directors recommends voting no on the censorship proposal, as it did last year, and no on the proposal dealing with health care reform, arguing that the annual meeting is not the proper forum for this “important national policy debate,” and then detailing the company’s “various initiative on several fronts to address the issues of rising health care costs while ensuring quality health care for Googlers.”

The boards response to the proposal calling for transparency in the company’s corporate contributions was simply to agree and recommending that shareholders vote “yes.”

As for the separate matter of executive compensation, once again the company’s CEO and two founders, “Eric, Larry and Sergey have voluntarily elected to receive only nominal cash compensation,” i.e., $1. Eric did receive $402,562 worth of personal security and approximately $106,201 paid by Google on Eric’s behalf for costs related to aircraft chartered for Google business on which family and friends flew in 2008.”

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