This excerpt taken from the GOOG DEF 14A filed Mar 24, 2009.
The basic purpose of the Leadership Development and Compensation Committee is to oversee Googles executive officer compensation programs. The Committee will provide this oversight through a process that supports Googles business objectives and incorporates sound corporate governance principles. The Committee will also broadly oversee matters relating to the attraction, motivation, development and retention of all Googlers.
To this end, the Committee shall (i) establish, oversee and administer Googles employee compensation policies and programs, (ii) review compensation and incentive programs and awards for Googles chief executive officer (CEO), (iii) review and approve compensation and incentive programs and awards for all other executive officers of Google and the non-employee members of Googles Board of Directors, (iv) administer Googles equity compensation plans, and (v) perform other tasks necessary to promote sound corporate governance principles related to leadership development and compensation at Google.
This excerpt taken from the GOOG DEF 14A filed Mar 25, 2008.
The purpose of the Audit Committee is to:
In carrying out Audit Committee functions, the Audit Committee must maintain free and open communication with Googles independent auditors and Googles management.