Google CEO Eric Schmidt and co-founders Larry Page and Sergey Brin will receive <A HREF="http://money.cnn.com/2007/03/05/news/companies/google_salaries/index.htm">a $1 annual salary for 2007,</A> the company disclosed in a regulatory filing Monday.

Schmidt, Brin and Page first requested that the company reduce their salary to $1 during the second quarter of 2004, just prior to the company's initial public offering in August of that year. All three own a substantial amount of Google stock.

As of last year's proxy, Larry Page owned 32.1 million shares of the company, worth about $14.2 billion at today's closing price. Sergey Brin held 31.6 million shares valued at $13.9 billion. Schmidt held 12.5 million shares worth $5.5 billion.