3Com adopts shareholder proposals

By Lisa Kerner

Charlotte, N.C., Feb. 3 - 3Com Corp. said its board of directors will implement the two shareholder proposals approved at the company's 2008 annual meeting.

The first proposal asks 3Com to adopt a policy requiring that stock options granted to senior executives be performance-based.

According to 3Com, such a policy will take effect at the start of the company's 2010 fiscal year, which begins May 30, 2009.

The second proposal calls for declassification of the company's board so all directors are elected to one-year terms at each annual meeting.

3Com's board currently has two classes, with each class elected for a two-year term.

Declassification of the board requires further shareholder action. The board said it will recommend that its shareholders approve an amendment to 3Com's certificate of incorporation to declassify the board at the next annual shareholders meeting in September 2009.

3Com, located in Marlborough, Mass., provides secure, converged voice and data networking solutions.

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