Document:

EX-10.13(O)

 Exhibit 10.13(O) 

Execution Version 
 ELEVENTH
AMENDMENT 
 TO SEARCH AND ADVERTISING SERVICES AND SALES AGREEMENT 

This Eleventh Amendment to Search and Advertising Services and Sales Agreement (this “Eleventh Amendment”) is entered into to
be effective as of April 15, 2015 (“Eleventh Amendment Effective Date”) by and between Yahoo! Inc., a Delaware corporation (“Yahoo!”), and Microsoft Corporation, a Washington corporation
(“Microsoft”). 
 WHEREAS, Yahoo! and Microsoft are parties to that certain Search and Advertising Services and Sales
Agreement, entered into as of December 4, 2009, as amended (collectively, the “Agreement”); and 
 WHEREAS, Yahoo! and
Microsoft desire to further amend the Agreement as set forth herein. 
 NOW, THEREFORE, in consideration of the mutual promises contained
herein, the parties agree as follows: 
 1. Definitions. Capitalized terms used but not defined herein have the same meanings given in the Agreement.
The following definitions either replace existing definitions in, or are added to, Exhibit A of the Agreement: 
 “Algorithmic Listings
Serving Cost” means $[*] per 1,000 Algorithmic Requests for results requested for the United States, Canada, or the UK markets, and $[*] per 1,000 Algorithmic Requests for results requested from other markets. 

“Algorithmic Request” means a Query, Non-Internet Search Query, or call delivered by Yahoo! to Microsoft for Algorithmic Listings
from Microsoft’s Algorithmic Search Services. 
 “Commercial Query” means a Query which, if sent to Microsoft, would be
expected to generate (based on average historical performance or other quantifiable measures) at least one relevant Paid Listing from Microsoft’s Paid Search Services and such Paid Listing has a bid of at least $[*] and a click-through-rate of
no less than [*]%. 
 “Mobile Device” means (a) a mobile device used for any computing, communications or other services
(e.g., mobile phones, tablets and wearable devices), (b) any device with a physical screen size of 9.7 inches or less, or (c) any other device that Microsoft and Yahoo! either agree in writing are Mobile Devices or both treat as mobile for
purposes of rendering the user experience. Examples include, as of the Effective Date, devices such as the Apple iPhone, RIM Blackberry, Apple iPad, Samsung Galaxy, Nokia Nseries, Nokia Lumia, the Samsung Note, any other devices manufactured by
other companies that are captured by this definition and, in the future, any devices that are captured by this definition. From time-to-time the parties shall engage in good faith discussions to modify this definition to take into account
then-current trends in mobile consumer electronics and Microsoft and Yahoo!’s implementation of their respective mobile services. 

“Paid Listing Request” means a Query, Non-Internet Search Query, or call delivered by Yahoo! to Microsoft for Paid Listings from
Microsoft’s Paid Search Services. 
 “Paid Listings Serving Cost” means $[*] per 1,000 Paid Listing Requests for results
requested for the United States, Canada, or the UK markets, and $[*] per 1,000 Paid Listing Requests for results requested for other markets. 

  
 [*] Indicates that
certain information in this exhibit has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to omitted portions. 

 
 1 

 Execution Version 
  

“Personal Computer” means a computer built around a microprocessor for use by one person at a time and can be a desktop or laptop
device but does not include any Mobile Device or any device designed primarily to be connected to televisions and used for playing video games or streaming video (e.g., Xbox, Playstation, cable set top box, Apple TV). 

2. Traffic Guarantee. A new Section 2.5 is added to the Agreement as follows: 

“2.5 Yahoo! Volume Commitment and Other Commitments. Beginning on May 1, 2015, and for each calendar month thereafter, Yahoo!
shall request (and display, if returned) Paid Listings from Microsoft’s Paid Search Services for a minimum of 51% of Queries and Non-Internet Search Queries originating from Personal Computers accessing Yahoo! Properties and Syndication
Properties in each calendar month (the “Yahoo! Volume Commitment”). Notwithstanding the foregoing Yahoo! will be deemed not to have violated the requirements of this Section 2.5 to deliver the Yahoo! Volume Commitment in given month
if Yahoo! delivers at least 95% of the Yahoo! Volume Commitment in a calendar month but in the subsequent calendar month Yahoo! makes good on the number of Queries and Non-Internet Search Queries in the shortfall. In response to Queries and
Non-Internet Search Queries for the Yahoo! Volume Commitment, Yahoo! will ensure that it will display Paid Listings only from Microsoft’s Paid Search Services on results pages on Yahoo! Properties and Syndication Properties. For clarity, for
Queries or Non-Internet Search Queries that are in excess of the Yahoo! Volume Commitment or other calls for Microsoft’s Paid Search Services, Yahoo! may, but is not required to, display Paid Listings returned from Microsoft’s Paid Search
Services in response to such Queries, Non-Internet Search Queries and calls. Yahoo! also agrees that all Queries and Non-Internet Search Queries sent to Microsoft in connection with the Yahoo! Volume Commitment in each month will have (a) an
average, aggregate traffic quality equal to or better than the average, aggregate traffic quality of Yahoo!’s overall Queries and (b) a ratio of Commercial Queries relative to total Queries in the Yahoo! Volume Commitment equal to or
better than the ratio of Yahoo!’s total Commercial Queries relative to its total Queries, where the mix of Commercial Queries sent to Microsoft is reasonably comparable to the mix of Yahoo!’s total Commercial Queries. The
(a) determination of what Queries are Commercial Queries and (b) selection of Queries and Non-Internet Search Queries for the Yahoo! Volume Commitment to satisfy Yahoo!’s obligations under this Section 2.5 will be determined by
Yahoo! in a manner that is (i) transparent to Microsoft (with respect to both the methodology for the determination of what Queries are Commercial Queries and for the selection of Queries and Non-Internet Search Queries that are included in the
Yahoo! Volume Commitment and the associated data for such determination and selection); (ii) reasonable and fair and (iii) consistently applied. Yahoo! will also provide additional information with respect to Microsoft’s reasonable
requests to clarify how such Queries and Non-Internet Search Queries are included in the Yahoo! Volume Commitment occurs to ensure that the above is satisfied. In addition, Yahoo! will timely address (where appropriate) any questions and concerns
that Microsoft raises regarding the Yahoo! Volume Commitment.” 
 3. Sales. Effective on July 1, 2015, Yahoo!’s sales exclusivity for
Premium Direct Advertisers will terminate and the provisions relating to a non-exclusive sales relationship will commence under the terms set forth in Section 7.2.3(d) of the Agreement. Section 5 of the Agreement is amended to add new
Sections 5.13, 5.14, 5.15 and 5.16 as follows: 
 “5.13 Transition of Sales Responsibilities. Microsoft and Yahoo! will develop a
plan and schedule to transition sales responsibilities for Premium Direct Advertisers to Microsoft with such transition starting on July 1, 2015 and completed by January 31, 2016 (the “Sales Transition Period”); provided,
however, the parties will use commercially reasonable efforts to migrate Premium Direct Advertisers representing at least [*]% of Net Revenues for Premium Direct Advertisers in the [*] (calculated using 2014 Net Revenues for these markets) by
September 30, 2015 and the plan and schedule shall reflect such timing. The parties agree to work together in 

  
 [*] Indicates that
certain information in this exhibit has been omitted and filed separately with the Securities and 
 Exchange Commission. Confidential
treatment has been requested with respect to omitted portions. 
  
 2 

 Execution Version 
  

good faith prior to and during the Sales Transition Period to reasonably facilitate an orderly transition of sales responsibilities from Yahoo! to Microsoft in a manner that preserves Premium
Direct Advertisers’ budgets and minimizes issues related to Microsoft assuming responsibility for sales of Microsoft Paid Search Services to Premium Direct Advertisers, including introductions by Yahoo! for Microsoft to Premium Direct
Advertisers when requested, external communications regarding the intent of the parties that sales responsibilities will be transitioning to Microsoft, and migrating Premium Direct Advertisers to sales management by Microsoft’s sales force for
the Core Platform. The plan will include the providing of Customer data as defined by contact information, and terms and conditions. Microsoft and Yahoo! will use good faith efforts to develop a means to enable payment instruction information for
Customers to be provided to Microsoft (e.g., where not limited by confidentiality obligations, such information may be directly provided by Yahoo!; where confidentiality obligations limit the direct provision of such information the parties will
work to identify another means such as requesting Customer consent, requesting that a Customer provide information directly to Microsoft, providing Microsoft content information to request the information directly, etc.). In advance of the Sales
Transition Period, the parties will work together to introduce Microsoft sales personnel to Premium Direct Advertisers, enable such Microsoft personnel to start engaging with Premium Direct Advertisers (but not sell Paid Search Services to such
advertisers prior to July 1, 2015), and otherwise prepare for the transition. 
 The parties intend to address any individual markets
other than [*] whereby Microsoft is unable to transition sales responsibilities within the Sales Transition Period by having Yahoo! continuing to provide sales services in such markets for a limited period of time, as requested by Microsoft, but not
to exceed [*]. Upon the completion of the Sales Transition Period in a given market, (a) Yahoo!’s rights and obligations around sales of Microsoft’s Paid Search Services to Premium Direct Advertisers, including those set forth in
Section 5 of this Agreement, will cease in such market and (b) Microsoft shall assume exclusive rights and responsibilities (as between the parties) for sales of Microsoft Paid Search Services in such market (c) Microsoft’s
obligations to provide Yahoo! with Advertiser Data, PDA Listings Data, and other sales-related data and services will cease in such market, and (d) Section 5.1-5.12 will terminate with respect to such market (and will terminate completely
following the last market transition) and all Microsoft sales, advertisers and marketplace reporting obligations provided in the Agreement to the extent provided for the primary purpose of managing sales for Customers will cease. 

At Yahoo!’s request, Microsoft will discuss in good faith a potential reseller arrangement to enable Yahoo! to sell Microsoft’s Paid
Search Services under a separate agreement, including Microsoft providing Yahoo! with data and reporting capabilities for such an arrangement.” 

5.14 Addition of Premium Search Publishers to Combined Marketplace. Upon written notice, each party will have the right to add Premium
Search Publishers (as defined below) with which they have signed new search distribution agreements to receive Algorithmic Search Services or Paid Search Services on their owned and operated properties to the combined marketplace of Microsoft
O&O Properties and Yahoo! Properties (the “Combined Marketplace”). Thereafter, the Core Platform and sales efforts for the Services will promptly reflect such additions to the Combined Marketplace, at which point the additional Premium
Search Publishers will receive appropriate Paid Listings. Microsoft will continue to enable distribution controls to allow Customers to opt out of having their Paid Listings from Microsoft’s Paid Search Services appear on the Web pages of such
Premium Search Publishers and continue to appear on Microsoft O&O Properties and Yahoo! Properties. Microsoft and Yahoo! will discuss and address, if needed, any issues of traffic quality and monetization based upon the inclusion of additional
Premium Search Publishers to the Combined Marketplace, including but not limited to, appropriate discounting if necessary in accordance with Section 2.2.3(b) of the Agreement. 

  
 [*] Indicates that
certain information in this exhibit has been omitted and filed separately with the Securities and 
 Exchange Commission. Confidential
treatment has been requested with respect to omitted portions. 
  
 3 

 Execution Version 
  

At the conclusion of (i) the ninety day period immediately following the addition of a new Premium Search Publisher to the Combined
Marketplace and (ii) each six month anniversary thereafter, Microsoft shall provide Yahoo! with the average Traffic Quality Score of such Premium Search Publisher during the immediately preceding ninety day period. To the extent that the
Traffic Quality Score is below 90% of the average Traffic Quality Score of the Combined Marketplace excluding any such Premium Search Publishers, the parties must mutually agree to allow each new Premium Search Publisher to remain in the Combined
Marketplace. Otherwise, the relevant, new Premium Search Publisher will be removed from the Combined Marketplace on a go forward basis. 

“Premium Search Publishers” will include (i) [*], and (ii) other premium search publishers as mutually agreed to by the
parties. 
 5.15 Non-Discrimination. During the Term, (a) neither Microsoft nor Yahoo! will knowingly discourage, inhibit or
provide any disincentive to advertisers from having their Paid Listings from the Services and the Additional Services (as applicable) displayed on the other party’s (or its distribution partners’) Web pages; (b) neither party will
issue a credit or refund for Paid Listings from the Services in order to increase an advertiser’s spend outside of the Microsoft Paid Search Services, and (c) each party’s rebates, credits practices and other policies and practices
(i) related to the Bad Debt Rate and (ii) that give rise to the discounts included in clauses (a), (b) and (c) of the definition of Net Revenues, will be commercially reasonable and consistent with standard industry practices,
except that the discounts in clause (c) of the definition of Net Revenues need only be commercially reasonable. Microsoft shall not provide less favorable treatment (including equal treatment when not merited) to Yahoo! or Syndication Partners
or Yahoo! Customers than to Microsoft, any Microsoft partner or Microsoft Customers in connection with the delivery or operation of the Services, except when such treatment is transparent and based on reasonable and fair factors that are
consistently applied to Microsoft O&O Properties as well. 
 5.16 Sales Tools. Yahoo! shall license to Microsoft its Sales Tools
for Microsoft to use solely in connection with Microsoft’s Paid Search Services on a perpetual, non-exclusive basis in accordance with the terms of the License Agreement. Yahoo! shall not have any support or other obligations with respect to
such Sales Tools beyond the initial delivery to Microsoft of the source code and available documentation for such Sales Tools as set forth in the Supplemental Technology Schedule to the License Agreement to be entered into by the parties
concurrently with this Agreement, and such training on the Sales Tools as reasonably necessary to facilitate the operation and maintenance of such Sales Tools by Microsoft.” 

4. Non-Exclusive. During the Term and in accordance with the terms and conditions of this Agreement, Microsoft will provide Yahoo! with
Microsoft’s Algorithmic Search Services and Paid Search Services and Yahoo! has the right, but not the obligation (other than Section 2.5 of the Agreement, as amended) to use, on a non-exclusive basis, Microsoft’s Algorithmic Search
Services and/or Paid Search Services on Yahoo! Properties and Syndication Properties. For the avoidance of doubt, all non-Personal Computers (e.g., mobile phones, tablets and wearable devices) are always non-exclusive and never subject to the Yahoo!
Volume Commitment set forth in Section 2.5 of this Agreement. In addition, Section 3.4 of the Agreement continues to apply but Microsoft agrees to provide any applicable Services on a non-exclusive basis. 

5. Exclusivity. Section 7 of the Agreement is deleted in its entirety with the exception of Sections 7.2.3(d) and 7.2.3(f) of the Agreement which
remain in effect until the end of the Sales Transition Period. 
 6. Calculation of Payments. Section 9 of the Agreement is altered as follows
to be applicable with respect to Services delivered after May 1, 2015: 

  
 [*] Indicates that
certain information in this exhibit has been omitted and filed separately with the Securities and 
 Exchange Commission. Confidential
treatment has been requested with respect to omitted portions. 
  
 4 

 Execution Version 
  

(a) Section 9.1.1 through 9.1.4 of the Agreement are deleted in their entirety and replaced with the following: 

“9.1.1 The “Rev Share Rate” shall be 93%. 

9.1.2 Services and Additional Services Sold by Yahoo!. 

(a) In connection with Paid Listings from Services and Additional Services sold by Yahoo! that, with respect to Paid Search
Services, are displayed in response to Queries and Non-Internet Search Queries entered on Microsoft O&O Properties and Microsoft syndication properties, Yahoo! shall pay to Microsoft 100% of the Adjusted Net Revenues. 

(b) In connection with Paid Listings from Services and Additional Services sold by Yahoo! that, with respect to Paid Search
Services are displayed in response to Queries and Non-Internet Search Queries entered on Yahoo! Properties or Syndication Properties, Yahoo! shall pay to Microsoft an amount equal to (i) the Net Revenues less an amount equal to the Net Revenues
multiplied by the Rev Share Rate less (ii) Net Revenues multiplied by Bad Debt Rate in excess of 1%. By way of example, if there was $100 in Net Revenues for Paid Search Services sold by Yahoo! displayed on Yahoo! Properties and Syndication
Properties, 2% Bad Debt Rate and an 93% Rev Share Rate, then Yahoo! would pay to Microsoft $6 (i.e., $100 - ($100 x 93%) – ($100 x (2%-1%))). 

9.1.3 Services and Additional Services Sold by Microsoft. 

(a) In connection with Paid Listings from Services and Additional Services sold by Microsoft that with respect to Paid Search
Services are displayed in response to Queries and Non-Internet Search Queries on Yahoo! Properties or Syndication Properties, Microsoft shall pay to Yahoo! an amount equal to (i) the Net Revenues multiplied by the Rev Share Rate less
(ii) Net Revenues multiplied by Microsoft bad debt rate (calculated for Microsoft similar to the “Bad Debt Rate” as defined with respect to Yahoo!) in excess of 1%; provided, however, that Microsoft may offset any amounts owed
pursuant to this Section 9.1.3(a) by any Serving Costs owed by Yahoo! pursuant to Section 9.1.5(a) below. 
 9.1.4 Other
Ads. With respect to a specific Paid Listing Request, if Gemini ads or other Yahoo! or third party Paid Listings from Paid Search Services appear with Paid Listings from Microsoft’s Paid Search Services on Yahoo! Properties or Syndication
Properties (solely to the extent such Paid Listings from Paid Search Services were provided by Yahoo! to the relevant Syndication Partner), Yahoo! shall pay to Microsoft Net Revenues (calculated for such other Paid Listings from Paid Search Services
in the same way as defined and calculated in the Agreement) (“Other Ad Revenues”) less an amount equal to Other Ad Revenues multiplied by the Rev Share Rate. Yahoo! shall provide Microsoft with relevant information on Other Ad Revenues
after the end of each month.” 
 (b) For avoidance of doubt, payments relating to Services delivered to BOSS Syndication Partners will
be determined pursuant to the terms of Sections 9.1.2, 9.1.3, 9.1.4 and 9.1.5 of this Agreement rather than pursuant to any payment provisions set forth in Section 2.1.6 of the Agreement. 

(c) Section 9.1.5(a) of the Agreement is deleted in its entirety and replaced with the following: 

  
 [*] Indicates that
certain information in this exhibit has been omitted and filed separately with the Securities and 
 Exchange Commission. Confidential
treatment has been requested with respect to omitted portions. 
  
 5 

 Execution Version 
  

“9.1.5 Reimbursements and Other Charges. 
  

	 	(a)	Serving Costs. For each Algorithmic Request or Paid Listing Request, if 

  

	 	(i)	Yahoo! makes an Algorithmic Request, but not a Paid Listing Request, Yahoo! shall pay Microsoft the Algorithmic Listing Serving Cost; 

 

	 	(ii)	Yahoo! makes a Paid Listing Request, but not an Algorithmic Request, Yahoo! shall pay Microsoft the Paid Listings Serving Cost in the event Yahoo! does not display at least one Paid Listing delivered from
Microsoft’s Paid Search Services; and 

  

	 	(iii)	Yahoo! makes both an Algorithmic Request and a Paid Listing Request, Yahoo! shall pay Microsoft the Algorithmic Listing Serving Cost and Paid Listings Serving Cost in the event Yahoo! does not display at least one Paid
Listing delivered from Microsoft’s Paid Search Services. 

 The reporting provided in Section 9.2.2(g) shall detail
the above and include the amount due pursuant to this Section 9.1.5(a). For each Query or Non-Internet Search Query, Yahoo! will pay Microsoft either its revenue share or the relevant serving cost, and in no event will Microsoft be entitled to
both a revenue share and serving costs for a single Query. 
 For clarity, Microsoft shall earn either a revenue share on Paid Listings from
Microsoft’s Paid Search Services or serving costs as illustrated in the table below: 
  

							
	 	  	Yahoo! Request
	 	  	
Algorithmic Request
 and a Paid
Listing
 Request
	  	
Algorithmic
 Request only
	  	
Paid Listing Request

only

	 Yahoo! Receives Paid Listing(s) from Microsoft and displays a least one of such Paid
Listing(s)
	  	7% Revenue Share
(including 7% of

Other Ad Revenues,if any)
	  	N/A	  	7% Revenue Share
(including 7% of
Other Ad Revenues, if
any)
	 	 	 	 
	 Yahoo!
Receives Paid Listing(s) from Microsoft and does not display any such Paid Listing(s)
	  	Algorithmic Listings
Serving Cost + Paid
Listings Serving
Cost	  	N/A	  	Paid Listings Serving
Cost
	 	 	 	 
	 No Paid
Listing(s) from Microsoft delivered
	  	7% Revenue Share*	  	Algorithmic
Listings Serving
Cost	  	7% Revenue Share*

  

	*	7% revenue share applies but there’s no revenue since Microsoft did not deliver a Paid Listing to Yahoo!.” 

  
 [*] Indicates that
certain information in this exhibit has been omitted and filed separately with the Securities and 
 Exchange Commission. Confidential
treatment has been requested with respect to omitted portions. 
  
 6 

 Execution Version 
  

(d) Starting on May 1, 2015, Yahoo!’s obligations to pay Covered Marginal Costs pursuant to the Agreement no longer
apply with the exception of those obligations referenced in (i) Sections 2.1.5(b) and 2.1.5(c) of the Agreement in connection with the Web Crawl Cache and Web Content Derived Metadata and (ii) Section 2.4.7(a) in connection with test
queries. For clarity and notwithstanding the preceding sentence, Yahoo! may owe serving costs under Section 9.1.5 (rather than Covered Marginal Costs) for Yahoo!’s use of the Services for (w) multiple API calls per Query as described
in Section 2.4.6, (x) BOSS Syndication Partners as described in Section 2.1.6, (y) Non-Internet Search Queries as described in Section 3.1, and (z) China as described in Section 6.2. 

(e) Sections 9.1.5(d), 9.1.5(g) and 9.1.5(o) of the Agreement are deleted in their entirety and replaced with
“Intentionally Omitted”. 
 7. Termination Rights. Section 19.3.1(b) of the Agreement is deleted in its entirety and replaced with
“Intentionally Omitted”. In addition, Section 19.3.4 of the Agreement is deleted in its entirety and replaced with the following: 

“19.3.4 Other Termination Rights. Starting on October 1, 2015, either party may terminate this Agreement in its entirety for
any reason or no reason by providing the other party with written notice (“Termination Notice”). For clarity, Section 19.7 remains effective in the event of such a termination.” 

8. Effect of Early Termination and Tail Transition Period. Section 19.5 of the Agreement is deleted in its entirety and replaced with the
following: 
 “19.5 Effect of Early Termination and Tail Transition Period. If either party provides a termination notice prior
to the expiration of the ten-year period defined in Section 19.1 (including pursuant to Section 19.3.4) then both parties will continue to perform all of their obligations and retain all rights for a period of four (4) months from the
date of the termination notice so that the parties may prepare for Yahoo! to transition from the Services provided by Microsoft (the “Tail Transition Period”). The Yahoo! Volume Commitment shall not apply in the third and fourth month of
the Tail Transition Period in order to allow for an orderly transition. During the Tail Transition Period, except as otherwise provided in this Section 19.5, all provisions of this Agreement will apply and the parties will still share revenues
according to Section 19.5. This Agreement will terminate upon the conclusion of the Tail Transition Period.” 
 9. Survival.
Section 19.7 is amended so that Section 19.4 survives until the earlier of (a) the expiration of the Agreement if there is no earlier termination of the Agreement, or (b) the end of the Tail Transition Period, if there is a
termination of the Agreement prior to its expiration. Notwithstanding the foregoing, if the Agreement is terminated prior to its expiration and the Tail Transition Period ends prior to [*], Section 19.4 shall survive until [*] and in the cases
of Divestitures involving assets used or otherwise located solely in a jurisdiction other than [*] (“Limited Market Divestiture”): (i) Yahoo! must respond within [*] of the Divestiture Notice and indicate whether it wants to enter
into an exclusive negotiation period to be the acquirer in the Limited Market Divestiture and include an offer describing material terms under which it would like to do so; (ii) the Negotiation Period for the Limited Market Divestiture will be
only [*]; and (iii) Section 19.4.3 (Right of Last Offer) and the provisions in Sections 19.4.4 – 19.4.6 relating to the right of last offer described in Section 19.4.3 will not apply to Limited Market Divestitures. For clarity,
worldwide divestitures or sales of all or substantially all of the assets used by Microsoft in the global Business are not Limited Market Divestitures. Limited Market Divestitures must be done on a non-exclusive basis. 

10. SLA. Section 5b of the Exhibit B to the Agreement is altered so that the two references to “[*]%” in this subsection are replaced
with “[*]%”. 

  
 [*] Indicates that
certain information in this exhibit has been omitted and filed separately with the Securities and 
 Exchange Commission. Confidential
treatment has been requested with respect to omitted portions. 
  
 7 

 Execution Version 
  

11. Discontinuing Services. Effective as of August 1, 2015, the parties’ rights and obligations with respect to Contextual Advertising
Services will cease. 
 12. Mapping Services. Section 3.2 and Exhibit G of the Agreement are deleted in their entirety and replaced with
“Intentionally Omitted”. 
 13. Mobile. The first, fifth and sixth sentences in Section 2.2.2 of Exhibit H to the Agreement are
deleted in their entirety. As of the Eleventh Amendment Effective Date, any obligations to display Microsoft Mobile Paid Listings will cease. Yahoo! shall pay Microsoft for Mobile Paid Search Services in accordance with Section 9.1 of the
Agreement. 
 14. Product Listing Ads. The parties agree that Microsoft’s product listing ads displayed in response to a Query or Non-Internet
Search Query are not Paid Listings from Microsoft’s Paid Search Services. 
 15. License Agreement. The exclusive rights granted by Yahoo! to
Microsoft to the Licensed Non-Patent IPR under the License Agreement will become non-exclusive as of the Eleventh Amendment Effective Date. 
 16.
Miscellaneous. This Eleventh Amendment will be governed and construed, to the extent applicable, in accordance with the laws of the State of New York, without regard to its conflict of law principles. This Eleventh Amendment may be executed
in multiple textually identical counterparts, each of which constitutes an original and all of which collectively shall constitute one and the same instrument. This Eleventh Amendment may be amended or modified only by a written agreement that
(a) refers to this Eleventh Amendment; and (b) is executed by an authorized representative of each party. This Eleventh Amendment binds the parties hereto and their respective personal and legal representatives, successors, and permitted
assigns. Except as expressly set forth herein, the Agreement remains in full force and effect and this Eleventh Amendment does not alter, amend or change any of the other terms or conditions set forth in the Agreement. To the extent of any conflict
between this Eleventh Amendment and any provisions of the Agreement, this Eleventh Amendment shall control with respect to the subject matter hereof. 
 IN
WITNESS WHEREOF, the parties by their duly authorized representatives have executed this Eleventh Amendment as of the Eleventh Amendment Effective Date. 
  

									
	YAHOO! INC.				MICROSOFT CORPORATION
					
	By:		   /s/ Marissa A. Mayer
				By:		   /s/ Amy E. Hood

	Name: Marissa A. Mayer				Name: Amy E. Hood
	Title:   President & CEO				Title:   CFO

  
 [*] Indicates that
certain information in this exhibit has been omitted and filed separately with the Securities and 
 Exchange Commission. Confidential
treatment has been requested with respect to omitted portions. 
  
 8EX-10.15(M)

 Exhibit 10.15(M) 

YAHOO! INC. 
 NOTICE
OF RESTRICTED STOCK UNIT GRANT 
 Marissa A. Mayer 

You have been granted an award of Restricted Stock Units by Yahoo! Inc. (the “Company”) as follows: 

 

			
	 Date of Grant:
	 	06-Mar-2015
		
	 Total Number of Restricted

Stock Units Granted:
	 	138,121
	 	
		
	 Type of RSU:
	 	U.S. Executive RSU (Mayer Version)
		
	 Vesting Commencement Date:
	 	06-Mar-2015

 Vesting Schedule: 
  

											
	 Shares
	  	 Vesting Date
	  	 Shares
	  	 Vesting Date
	  	 Shares
	  	 Vesting Date

	 3,836
	  	06-Apr-2015	  	3,837	  	06-Apr-2016	  	3,837	  	06-Apr-2017
	 3,837
	  	06-May-2015	  	3,836	  	06-May-2016	  	3,837	  	06-May-2017
	 3,837
	  	06-Jun-2015	  	3,837	  	06-Jun-2016	  	3,836	  	06-Jun-2017
	 3,836
	  	06-Jul-2015	  	3,837	  	06-Jul-2016	  	3,837	  	06-Jul-2017
	 3,837
	  	06-Aug-2015	  	3,836	  	06-Aug-2016	  	3,837	  	06-Aug-2017
	 3,837
	  	06-Sep-2015	  	3,837	  	06-Sep-2016	  	3,836	  	06-Sep-2017
	 3,836
	  	06-Oct-2015	  	3,837	  	06-Oct-2016	  	3,837	  	06-Oct-2017
	 3,837
	  	06-Nov-2015	  	3,836	  	06-Nov-2016	  	3,837	  	06-Nov-2017
	 3,837
	  	06-Dec-2015	  	3,837	  	06-Dec-2016	  	3,836	  	06-Dec-2017
	 3,836
	  	06-Jan-2016	  	3,837	  	06-Jan-2017	  	3,837	  	06-Jan-2018
	 3,837
	  	06-Feb-2016	  	3,836	  	06-Feb-2017	  	3,837	  	06-Feb-2018
	 3,837
	  	06-Mar-2016	  	3,837	  	06-Mar-2017	  	3,837	  	06-Mar-2018

  

			
	Manner of Payment by Company:	  	Stock
		
	Governing Documents:	  	RSU Award Agreement for U.S. Executives (Mayer Version) (Mar 2015)
		  	Yahoo Stock Plan (the Plan) (2014)

 By your acceptance of this award through the Company’s online acceptance procedure (or by your signature and the
signature of the Company’s representative below): 
  

	 	•	 	you acknowledge receiving and reviewing the Governing Documents (listed above) and the Supplemental Documents (listed below); 

	 	•	 	you agree that the Restricted Stock Units are granted under and governed by the terms and conditions of the Governing Documents and you agree to be bound by the terms of this agreement and the Governing Documents, all
of which are hereby incorporated by reference into this agreement; and 

  

	 	•	 	you consent to the collection, use and transfer, in electronic or other form, of your personal data as described in the Governing Documents for the purpose of implementing, administering and managing your
participation in the Plan. 

 This agreement shall be construed and determined in accordance with the laws of the U.S. State of Delaware
(without giving effect to the conflict of laws principles thereof) and shall be deemed to have been executed and delivered by the parties hereto as of the Date of Grant. 
  

							
	GRANTEE:				YAHOO! INC.
				
	

				By:		

	Signature						Kenneth Goldman
				
	Marissa Mayer				Title:		Chief Financial Officer
	Name						
			
	Supplemental Documents:				Insider Trading Policy
					Plan Prospectus (September 2014)

 YAHOO! INC. STOCK PLAN 

RESTRICTED STOCK UNIT AWARD AGREEMENT 

FOR U.S. EXECUTIVES 

(Mayer Version) 
 Section 1. Grant
of Restricted Stock Unit Award 
  

	(a)	Grant of Restricted Stock Units (“RSUs”). Yahoo! Inc., a Delaware corporation (the “Company”), hereby grants to the grantee (the “Grantee”) named in the Notice of Restricted Stock
Unit Grant (the “Notice of Grant”) the total number of RSUs set forth in the Notice of Grant, on the terms and conditions set forth in this Restricted Stock Unit Award Agreement for U.S. Executives (Mayer Version) (this
“Agreement”) and as otherwise provided in the Yahoo! Inc. Stock Plan, as amended (the “Award”). 

  

	(b)	Incorporation of Plan; Capitalized Terms. The provisions of the Yahoo! Inc. Stock Plan, as amended (the “Plan”) are hereby incorporated herein by reference. Except as otherwise expressly set forth
herein, this Agreement shall be construed in accordance with the provisions of the Plan and any capitalized terms not otherwise defined in this Agreement shall have the definitions set forth in the Plan. The Administrator shall have final authority
to interpret and construe the Plan and this Agreement and to make any and all determinations thereunder, and its decision shall be binding and conclusive upon the Grantee and his/her legal representative in respect of any questions arising under the
Plan or this Agreement. 

 Section 2. Terms and Conditions of Award 

The grant of RSUs provided in Section 1(a) shall be subject to the following terms, conditions and restrictions: 

 

	(a)	Limitations on Rights Associated with RSUs. The RSUs are bookkeeping entries only. The Grantee shall have no rights as a stockholder of the Company, no dividend rights and no voting rights with respect to the
RSUs. 

  

	(b)	Restrictions. The RSUs and any interest therein, may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, except by will or the laws of descent and distribution. Any attempt to
dispose of any RSUs in contravention of the above restriction shall be null and void and without effect. 

  

	(c)	Lapse of Restrictions. Subject to Sections 2(e) through 2(g) below, on each vesting date specified in the vesting schedule set forth in the Notice of Grant, the number of RSUs set forth opposite such vesting date
shall vest and become non-forfeitable. 

  

			
	RSU Award Agreement for U.S. Executives (Mayer Version) (March 2015)		1

	(d)	Timing and Manner of Payment of RSUs. As soon as practicable after (and in no case more than seventy-four days after) the date any RSUs subject to the Award become non-forfeitable (the “Payment Date”),
such RSUs shall be paid by the Company delivering to the Grantee a number of Shares equal to the number of RSUs that become non-forfeitable upon that Payment Date (rounded down to the nearest whole share). The Company shall issue the Shares either
(i) in certificate form or (ii) in book entry form, registered in the name of the Grantee. Delivery of any certificates will be made to the Grantee’s last address reflected on the books of the Company and its Subsidiaries unless the
Company is otherwise instructed in writing. The Grantee shall not be required to pay any cash consideration for the RSUs or for any Shares received pursuant to the Award. Neither the Grantee nor any of the Grantee’s successors, heirs, assigns
or personal representatives shall have any further rights or interests in any RSUs that are so paid. Notwithstanding anything herein to the contrary, the Company shall have no obligation to issue Shares in payment of the RSUs unless such issuance
and such payment shall comply with all relevant provisions of law and the requirements of any Stock Exchange. 

  

	(e)	Termination of Employment; Leaves of Absence. The following provisions shall apply in the event of the termination of the Grantee’s employment or service with the Company, Parent or any Subsidiary, or should
the Grantee take a leave of absence from employment with the Company, Parent or any Subsidiary: 

  

	 	(i)	General. Except as expressly provided below in this Section 2(e) or Section 2(g), in the event of the termination of the Grantee’s employment or service with the Company, Parent or any Subsidiary
for any reason prior to the lapsing of the restrictions in accordance with Section 2(c) hereof with respect to any of the RSUs granted hereunder, such portion of the RSUs held by the Grantee shall be automatically forfeited by the Grantee as of
the date of termination. (The date of any such termination of the Grantee’s employment or service is referred to in this Agreement as the “Termination Date.”) Neither the Grantee nor any of the Grantee’s successors, heirs,
assigns or personal representatives shall have any rights or interests in any RSUs that are forfeited pursuant to any provision of this Agreement. 

  

	 	(ii)	Termination Without Cause or Due to Death or Disability. Notwithstanding the foregoing clause (i) but subject to Section 2(g) below: 

 

	 	(A)	 Termination During Annual Vesting Period: subject to clause (ii)(B) below, in the event (1) the termination of the Grantee’s
employment is by the Company, Parent or Subsidiary without Cause (as such term is defined in the Grantee’s offer letter with the Company dated July 16, 2012 (the “Offer Letter”)) or due to the Grantee’s death or Total
Disability (as defined in the Plan) and the Grantee complies with the release and other requirements described in Section 2(j), (2) the Termination Date is not a scheduled vesting date and is six months or less before the next scheduled
vesting date, and (3) on the Termination Date the period of time between (x) the then-prior vesting date (or, if none, the date of grant specified in 

  

			
	RSU Award Agreement for U.S. Executives (Mayer Version) (March 2015)		2

	 	
the Notice of Grant (the “Date of Grant”) or any earlier vesting commencement date specified by the Administrator at the time of grant) and (y) the next scheduled vesting date is
six months or more, then the RSUs that are scheduled to vest on the next scheduled vesting date (to the extent then outstanding and unvested) shall vest and become non-forfeitable on the later of the Termination Date or the date the Grantee’s
full release of any and all claims against the Company as contemplated by Section 2(j) becomes irrevocable. Any RSUs that vest pursuant to this clause (ii)(A) shall be paid as soon as practicable after (and in no case more than seventy-four
days after) the Termination Date (provided, that if the period for the Grantee to consider and revoke any such release spans two different calendar years, payment of such RSUs will be made within such prescribed time period, but in the second of
those two years). Any RSUs that do not vest in accordance with the foregoing provisions of this clause (ii)(A) shall be automatically forfeited by the Grantee as of the Termination Date. For avoidance of doubt, this clause (ii)(A) will not apply to
any such termination (other than a termination due to the Grantee’s death or Total Disability) that occurs at any time within the 12-month period following a Change in Control (as defined below). 

 

	 	(B)	Front-Loaded Awards - Termination During Annual Vesting Period: notwithstanding the foregoing clause (ii)(A), in the event (1) the termination of the Grantee’s employment is by the Company, Parent or
Subsidiary without Cause or due to the Grantee’s death or Total Disability and the Grantee complies with the release and other requirements described in Section 2(j), and (2) this award is designated as “front loaded” in the
Notice of Grant, then the number of RSUs that vest upon the later of the Termination Date or the date the Grantee’s full release of any and all claims against the Company as contemplated by Section 2(j) becomes irrevocable shall equal the
quotient of (x) any RSUs that would have vested under clause (ii)(A) if this were not a front-loaded award, divided by (y) the number of years of annual awards this grant represents, as stated in the Notice of Grant. Any RSUs that vest
pursuant to this clause (ii)(B) shall be paid as soon as practicable after (and in no case more than seventy-four days after) the Termination Date (provided, that if the period for the Grantee to consider and revoke any such release spans two
different calendar years, payment of such RSUs will be made within such prescribed time period, but in the second of those two years). Any RSUs that do not vest in accordance with the foregoing provisions of this clause (ii)(B) shall be
automatically forfeited be the Grantee as of the Termination Date. For avoidance of doubt, this clause (ii)(B) will not apply to any such termination (other than a termination due to the Grantee’s death or Total Disability) that occurs at any
time within the 12-month period following a Change in Control. 

  

			
	RSU Award Agreement for U.S. Executives (Mayer Version) (March 2015)		3

	 	(iii)	Leaves of Absence. Unless otherwise expressly provided in a Company leave of absence vesting policy approved by the Administrator or otherwise by the Administrator, and subject to compliance with all applicable
laws relating to the Grantee’s employment by the Company, Parent or Subsidiary (as applicable), in the event the Grantee takes an authorized leave of absence from the Company, Parent or Subsidiary (as applicable), each vesting date specified in
the vesting schedule set forth in the Notice of Grant that has not occurred as of the commencement of such leave of absence shall be tolled for the number of calendar days in the period that the Grantee is on such leave of absence, beginning with
the commencement date of such leave of absence, but not beyond the maximum term of this Award as provided in the Plan (and any RSUs that have not vested and become non-forfeitable when such maximum term is reached shall be automatically forfeited by
the Grantee). (For example, if the scheduled vesting date is January 1, 2014 and, prior to that date the Grantee commences a leave of absence spanning 365 calendar days, the vesting date shall (unless otherwise expressly provided in a Company
leave of absence policy approved by the Administrator or otherwise by the Administrator) be tolled for 365 days and shall become January 1, 2015.) 

  

	(f)	Corporate Transactions. The following provisions shall apply to the corporate transactions described below: 

  

	 	(i)	In the event of a proposed dissolution or liquidation of the Company, the Award will terminate and be forfeited immediately prior to the consummation of such proposed transaction, unless otherwise provided by the
Administrator. 

  

	 	(ii)	In the event of a proposed sale of all or substantially all of the assets of the Company, or the merger of the Company with or into another corporation, the Award shall be assumed or substituted with an equivalent award
by such successor corporation, parent or subsidiary of such successor corporation; provided that the Administrator may determine, in the exercise of its sole discretion in connection with a transaction that constitutes a permissible distribution
event under Section 409A(a)(2)(A)(v) of the Code, that in lieu of such assumption or substitution, the Award shall be vested and non-forfeitable and any conditions or restrictions on the Award shall lapse, as to all or any part of the Award,
including RSUs as to which the Award would not otherwise be non-forfeitable. 

  

	(g)	Change in Control. The following provisions shall apply in the event of a Change in Control (as defined below) prior to the date the RSUs have either become vested and non-forfeitable or have been forfeited
pursuant to this Agreement: 

  

	 	(i)	 In the event that, during the period of twelve (12) months following the Change in Control, the Grantee’s employment is terminated by the
Company, Parent or any Subsidiary without Cause or by the Grantee for Good Reason (as such term is defined in the Offer Letter) and the Grantee complies with the release and other requirements described in Section 2(j), the RSUs subject to the
Award, to the 

  

			
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extent then outstanding and not vested, shall become fully vested and non-forfeitable as of the later of the Grantee’s Termination Date or the date any such release becomes final and
irrevocable. Any RSUs that vest pursuant to this clause (i) shall be paid as soon as practicable after (and in no case more than seventy-four days after) the Termination Date (provided, that if the period for the Grantee to consider and revoke
any such release spans two different calendar years, payment of such RSUs will be made within such prescribed time period, but in the second of those two years). 

  

	 	(ii)	For purposes of this Agreement, “Change in Control” shall mean the first of the following events to occur after the Date of Grant: 

 

	 	(A)	any person or group of persons (as defined in Section 13(d) and 14(d) of the Exchange Act) together with its Affiliates (as defined below), but excluding (i) the Company or any of its subsidiaries,
(ii) any employee benefit plans of the Company or (iii) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company (individually a
“Person” and collectively, “Persons”), is or becomes, directly or indirectly, the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of securities of the Company representing 40% or more of the
combined voting power of the Company’s then outstanding securities (not including in the securities beneficially owned by such Person any securities acquired directly from the Company or its Affiliates); 

 

	 	(B)	the consummation of a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any other corporation or entity regardless of which entity is the survivor, other than a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or being converted into voting securities of the surviving entity) more than 50%
of the combined voting power of the voting securities of the Company, such surviving entity or any parent thereof outstanding immediately after such merger or consolidation; or 

 

	 	(C)	the stockholders of the Company approve a plan of complete liquidation or winding-up of the Company or there is consummated an agreement for the sale or disposition by the Company of all or substantially all of the
Company’s assets, provided, however, that a sale of the Company’s search business shall not constitute a Change in Control, regardless of whether stockholders approve the transaction. 

 

	 	(iii)	For purposes of this Agreement, “Affiliate” means, with respect to any individual or entity, any other individual or entity who, directly or indirectly through one or more intermediaries, controls, is
controlled by or is under common control with, such individual or entity. 

  

			
	RSU Award Agreement for U.S. Executives (Mayer Version) (March 2015)		5

 This Award of RSUs shall not be subject to the acceleration of vesting provisions of
Section 2.5 of the Amended and Restated Yahoo! Inc. Change in Control Employee Severance Plan for Level I and Level II Employees. 
  

	(h)	Income Taxes. Except as provided in the next three sentences, the Company shall withhold and/or reacquire a number of Shares issued in payment of (or otherwise issuable in payment of, as the case may be) the RSUs
having a Fair Market Value equal to the taxes that the Company determines it or the Grantee’s employer is required to withhold under applicable tax laws with respect to the RSUs (with such withholding obligation determined based on any
applicable minimum statutory withholding rates) (“Net Share Settlement”). In the event that the Company cannot (under applicable legal, regulatory, listing or other requirements, or otherwise) satisfy such tax withholding obligation in
such method, the Company may satisfy such withholding by any one or a combination of the following methods: (i) by requiring the Grantee to pay such amount in cash or check; (ii) by deducting such amount out of any other compensation
otherwise payable to the Grantee; and/or (iii) by allowing the Grantee to surrender shares of Common Stock of the Company which (A) in the case of shares initially acquired from the Company (upon exercise of a stock option or otherwise),
have been owned by the Grantee for such period (if any) as may be required to avoid a charge to the Company’s earnings, and (B) have a Fair Market Value on the date of surrender equal to the amount required to be withheld. For these
purposes, the Fair Market Value of the Shares to be withheld or repurchased, as applicable, shall be determined on the date that the amount of tax to be withheld is to be determined. Notwithstanding the foregoing, if the Grantee has been designated
by the Company’s Board of Directors as an “executive officer” (as such term is defined in Rule 3b-7 under the Securities Exchange Act of 1934, as amended) the Administrator may (but is under no obligation to) allow the Grantee,
during such times and under such terms as the Administrator may provide, to elect in advance whether tax withholding obligations in connection with the RSUs will be satisfied (1) by Net Share Settlement, or (2) by the Grantee making a
payment in cash to the Company (a “Cash Settlement”); and if the Grantee has a Cash Settlement election in effect on the Date of Grant as to other Company RSU awards, such election shall also apply to this Award, unless and until such
election is modified in accordance with its terms. 

  

	(i)	No Advice Regarding Award. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Grantee’s participation in the Plan, or the
Grantee’s acquisition or sale of the underlying Shares. The Grantee is hereby advised to consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to
the Plan. 

  

	(j)	 Conditions of Accelerated Vesting; Exclusive Remedy. The accelerated vesting provisions specified in Sections 2(e) and 2(g) above are
conditioned on (1) the Grantee’s signing a full release of any and all claims against the Company in a release form acceptable to the Company (within the period specified in it by the Company, which in no event shall be more than fifty
days following the Grantee’s Termination Date) and the Grantee’s not revoking such release pursuant to any revocation rights afforded by applicable law, and (2) the Grantee’s compliance with the Grantee’s obligations under
his 

  

			
	RSU Award Agreement for U.S. Executives (Mayer Version) (March 2015)		6

	 	
or her Employee Confidentiality and Assignment of Inventions Agreement, or similar agreement. The Grantee agrees that such accelerated vesting benefits specified in this Agreement (and any
applicable severance benefits provided under a written agreement with the Company then in effect in accordance with its terms) will constitute the exclusive and sole remedy for any termination of the Grantee’s employment and the Grantee
covenants not to assert or pursue any other remedies, at law or in equity, with respect to the Grantee’s termination and/or employment. 

Section 3. Miscellaneous 
  

	(a)	Notices. Any and all notices, designations, consents, offers, acceptances and any other communications provided for herein shall be given in writing and shall be delivered either personally or by registered or
certified mail, postage prepaid, which shall be addressed, in the case of the Company to both the Chief Financial Officer and the General Counsel of the Company at the principal office of the Company and, in the case of the Grantee, to the
Grantee’s address appearing on the books of the Company or to the Grantee’s residence or to such other address as may be designated in writing by the Grantee. Notices may also be delivered to the Grantee, during his or her employment,
through the Company’s inter-office or electronic mail systems. 

  

	(b)	No Right to Continued Employment. The Grantee understands and agrees that the vesting of Shares pursuant to Section 2 above is earned only by continuing in the employ or service of the Company at the will of
the Company (not through the act of being hired, being granted the RSUs or acquiring Shares under this Agreement). The Grantee further acknowledges and agrees that nothing in this Agreement, nor in the Plan which is incorporated in this Agreement by
reference, shall confer upon the Grantee any right with respect to continuation as an employee or consultant with the Company, a Parent or any Subsidiary, nor shall it interfere with or restrict in any way the right of the Company, a Parent or any
Subsidiary, which is hereby expressly reserved, to remove, terminate or discharge the Grantee at any time for any reason whatsoever, with or without Cause and with or without advance notice. 

 

	(c)	Bound by Plan. By signing this Agreement, the Grantee acknowledges that he/she has received a copy of the Plan and has had an opportunity to review the Plan and agrees to be bound by all the terms and provisions
of the Plan. 

  

	(d)	Successors. The terms of this Agreement shall be binding upon and inure to the benefit of the Company, its successors and assigns, and of the Grantee and the beneficiaries, executors, administrators, heirs and
successors of the Grantee. 

  

	(e)	Headings. The headings of the Sections hereof are provided for convenience only and are not to serve as a basis for interpretation or construction, and shall not constitute a part, of this Agreement.

  

			
	RSU Award Agreement for U.S. Executives (Mayer Version) (March 2015)		7

	(f)	Section 409A. This Agreement and the Award are intended to comply with or be exempt from, as the case may be, Section 409A of the Code so as to not result in any tax, penalty or interest thereunder.
This Agreement and the Award shall be construed and interpreted accordingly. Except for the Company’s tax withholding rights, the Grantee shall be solely responsible for any and all tax liability with respect to the Award. 

 

	(g)	Invalid Provision. The invalidity or unenforceability of any particular provision hereof shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or
unenforceable provision had been omitted. 

  

	(h)	Governing Law/Choice of Venue. 

  

	 	(i)	This Agreement and the rights of the Grantee hereunder shall be construed and determined in accordance with the laws of the State of Delaware (without giving effect to the conflict of laws principles thereof), as
provided in the Plan. 

  

	 	(ii)	For the purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by the Award or this Agreement, the parties hereby submit and consent to the exclusive
jurisdiction of the State of California where this grant is made and/or to be performed and agree that such litigation shall be conducted only in the courts of Santa Clara County, California, or the federal court of the United States for the
Northern District of California, and no other courts. 

  

	(i)	Imposition of Other Requirements. If the Grantee relocates to another country after the Date of Grant, the Company reserves the right to impose other requirements on the Grantee’s participation in the Plan,
to the extent the Company determines it is necessary or advisable in order to comply with local law or facilitate the administration of the Plan, and to require the Grantee to sign any additional agreements or undertakings that may be necessary to
accomplish the foregoing. 

  

	(j)	Insider Trading Restrictions/Market Abuse Laws. The Grantee acknowledges that he or she is subject to the Company’s Insider Trading Policy and may be or may become subject to the Company’s 10b5-1
Trading Plan Policy, each as amended from time to time. In addition, the Grantee understands that he or she may be subject to insider trading restrictions under securities laws, market abuse laws, and/or other similar laws, and such restrictions may
affect his or her ability to acquire or sell Shares or rights to Shares. The Grantee acknowledges that it is the Grantee’s responsibility to comply with such Company policies and any additional restrictions that may apply under applicable laws
with respect to the Grantee’s acquisition, holding, and any disposition of Shares or rights to Shares. 

  

	(k)	Recoupment. Notwithstanding any other provision herein, the recoupment or “clawback” policies adopted by the Administrator and applicable to equity awards, as such policies are in effect from time to
time, shall apply to the Award and any Shares that may be issued in respect of the Award. 

  

			
	RSU Award Agreement for U.S. Executives (Mayer Version) (March 2015)		8

	(l)	Entire Agreement. This Agreement, the Notice of Grant, the Plan, and the Offer Letter contain the entire agreement and understanding of the parties hereto with respect to the subject matter contained herein and
therein and supersede all prior communications, representations and negotiations in respect thereto. 

  

	(m)	Modifications. No change, modification or waiver of any provision of this Agreement shall be valid unless the same is in writing and signed by the parties hereto. 

 

	(n)	Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

 

	(o)	Signature. This Agreement shall be deemed executed by the Company and the Grantee as of the Date of Grant upon execution by such parties (or upon the Grantee’s online acceptance) of the Notice of Grant.

  

			
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