TELECOM Digest OnLine - Sorted: Google Executives Pay Themselves 1.5 Million in Bonuses

Google Executives Pay Themselves 1.5 Million in Bonuses

Reuters News Wire (reuters@telecom-digest.org)
Wed, 07 Feb 2007 21:19:05 -0600

Google Inc. said on Friday its board of directors had agreed to pay
executive officers a bonus of up to $1.5 million total for 2006, but
it was not clear if the plan applied to the billionaires who started
the Web search leader.

Co-founders and Presidents Sergey Brin and Larry Page and Chief
Executive Eric Schmidt received salaries of $1 each in 2005 and were
not included in a separate 2006 plan for executive bonuses of up to $3
million each filed with federal regulators in October.

The company said on Friday in a regulatory filing that a committee
would determine how to allocate the bonus, which are in addition to
payments in the plan from October.

In 2005, four Google senior vice presidents received bonuses ranging
from about $636,000 to nearly $838,000, according to a recent proxy
statement.

Schmidt and Page received bonuses of $1,630 while Brin earned a bonus
of $1,723, and all three received further compensation, chiefly tied
to use of chartered aircraft in 2005.

During 2006, Google stock gained about 11 percent, slightly ahead of a
10 percent rise in the Nasdaq exchange.

Earlier this week, Google said quarterly profit nearly tripled, helped
by a lower tax rate and expense controls, and that revenue jumped 67
percent to $3.21 billion.

Revenue growth is closely watched as investors gauge Google's ability
to capitalize on Web advertising against rivals such as Yahoo Inc.
and Microsoft Corp.

Copyright 2007 Reuters Limited.

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