A SERVICE OF UWUA LOCAL 369
Utility Workers Union of America Local 369 has submitted a shareholder reform proposal for the Company’s 2009 annual meeting. We expect this proposal to be included in the Company’s proxy statement for a shareholder vote at the meeting.
The Union’s proposal calls for an advisory shareholder vote at every annual meeting to ratify the compensation awarded to the Company’s top executive officers. Nearly 42% of shares voting “for” or “against” this same proposal at Entergy’s 2008 annual meeting voted in favor of this resolution.
We believe that a shareholder vote each year on executive compensation would give investors a powerful vehicle to voice their concerns about executive pay at the Company, and would also encourage the directors to begin to rein in excessive compensation for top officers.
Please read on for more information about this proposal.
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