Document:

Exhibit 10.36

 

March 20, 2003

 

 

Dear Greg:

 

As a member of the Yahoo! Inc.
(“Yahoo!”) Senior Leadership team, you have the ability to make a significant
contribution to the operational and financial performance of the company
through your leadership role and in the performance of your daily job
responsibilities.  We are therefore
pleased to inform you of your compensation package effective January 1, 2003.

 

Your base salary for 2003 is anticipated to be $450,000, subject to
company-wide focal review.  We
also anticipate that your bonus for 2003 will be determined by the Executive Incentive Plan (“EIP”)
to be approved by Terry Semel and communicated during the first quarter of
2003.  This EIP replaces any of your
existing bonus arrangements, effective January 1, 2003.  Upon approval, EIP plan guidelines
and rules will be disseminated for more details.  As will be set forth in the rules, the EIP may be changed
(including retroactively) without notice at the Company’s discretion.

 

Effective December 11, 2002, you
were granted additional stock options to purchase 100,000 shares of Yahoo!’s
Common Stock under Yahoo!’s 1995 Stock Option Plan, as amended, (the “Plan”)
pursuant to the terms of a stock option agreement for such options (“Stock
Option Agreement”).  The exercise price
for these options will be $16.46.  The
Stock Option Agreement will specify that all options described above will vest
in equal monthly installments over the subsequent 48 months, and will provide
that such options (to the extent vested and exercisable) may be exercised for a
period of 90 days after the date of termination as specified by the Plan.

 

Additionally, you will remain
eligible to participate in the regular Yahoo! health insurance benefits and
other employee benefit plans established by the company generally for its
employees.

 

Finally, in lieu of the
mortgage subsidy provided in your original offer letter dated March, 19, 2001,
we have agreed that Yahoo! will provide you the following payments (grossed up)
on each of the following anniversaries of your having closed escrow on your Bay
Area home:

 

* $23,000 on the first
anniversary,

 

* $16,000 on the second
anniversary, and

 

* $8,000 on the third
anniversary.

 

Of course, each of these payments will be contingent upon
your continued employment with Yahoo! on the respective due date.

 

Please understand that this
letter and any statements by Yahoo! employees do not constitute a contract of
employment for any specific period of time. 
This letter reaffirms an “employment at will” relationship that may be
terminated at any time by you or Yahoo!, with or without cause and with or
without notice.

 

Our signature on this letter
also confirms our continued mutual agreement to binding arbitration, as defined
under the California Arbitration Act, under the rules of the American
Arbitration Association, should there be any dispute related to the termination
of our employment relationship or the terms of your employment relationship
with Yahoo!.

 

We are very optimistic about
our opportunity to achieve or exceed our internal goals and are looking forward
to seeing what we can achieve together as a senior leadership team.

 

	
  /s/ Daniel
  Rosensweig

  
	
  Dan
  Rosensweig

  
	
  Chief
  Operating Officer

  
	
  Yahoo! Inc.

  

 

 

I accept these terms of
employment with Yahoo! Inc. and agree to the terms and conditions outlined in
this letter.

 

 

	
  /s/ GREGORY COLEMAN

  	
   

  	
  3/21/03

  	
   

  
	
  Signature

  	
   

  	
  Date

  

 

2Exhibit 10.43

 

CERUS CORPORATION

 

1999 NON-EMPLOYEE DIRECTORS’ STOCK
OPTION SUB-PLAN

 

ADOPTED BY THE BOARD ON NOVEMBER 3,
1999

AMENDED DECEMBER 4, 2002

 

1.                                      PURPOSE.

 

(a)                                  The
purpose of the 1999 Non-Employee Directors’ Stock Option Sub-Plan (the
“Sub-Plan”) is to provide a means by which each director of Cerus Corporation
(the “Company”) who is not otherwise at the time of grant an employee of or
consultant to the Company or any Affiliate of the Company (each such person
being hereafter referred to as a “Non-Employee Director”) will be given an
opportunity to purchase Common Stock of the Company through non-discretionary
grants of stock options.

 

(b)                                  This
Sub-Plan is a sub-plan of, and is part of, the Company’s 1999 Equity Incentive
Plan (the “Equity Incentive Plan”), and is intended to provide for a separate
offering to Non-Employee Directors.  The
terms of this Sub-Plan shall govern the non-discretionary stock option grants
to Non-Employee Directors made pursuant to the terms of this Sub-Plan.  Capitalized terms used but not defined
herein shall have the meanings ascribed to those terms in the Equity Incentive
Plan.

 

(c)                                  The
word “Affiliate” as used in the Sub-Plan means any parent corporation or
subsidiary corporation of the Company, whether now or hereafter existing, as
those terms are defined in Sections 424(e) and (f), respectively, of the
Internal Revenue Code of 1986, as amended (the “Code”).

 

(d)                                  The
options granted under this Sub-Plan are not intended to qualify as incentive
stock options within the meaning of Section 422 of the Code and the regulations
promulgated thereunder.

 

2.                                      ADMINISTRATION.

 

(a)                                  The
Sub-Plan shall be administered by the Board of Directors of the Company (the
“Board”) unless and until the Board delegates administration to a committee, as
provided in Subsection 2(b) hereof.

 

(b)                                  The
Board may delegate administration of the Sub-Plan to a committee composed of
two (2) or more members of the Board (the “Committee”).  If administration is delegated to a
Committee, the Committee shall have, in connection with the administration of
the Sub-Plan, the powers theretofore possessed by the Board, subject, however,
to such resolutions, not inconsistent with the provisions of the Sub-Plan, as
may be adopted from time to time by the Board. 
The Board may abolish the Committee at any time and revest in the Board
the administration of the Sub-Plan.

 

1

 

3.                                      SHARES
SUBJECT TO THE SUB-PLAN.

 

Subject to the provisions of Section 10 hereof
relating to adjustments upon changes in stock, the Common Stock that may be
sold pursuant to options granted under the Sub-Plan and the Equity Incentive
Plan shall not exceed in the aggregate the number of shares reserved for
issuance under the Equity Incentive Plan. 
If any option granted under the Sub-Plan shall for any reason expire or
otherwise terminate, in whole or in part, without having been exercised in
full, the shares of Common Stock not acquired under such option shall again
become available for grant under the Sub-Plan or otherwise under the Equity
Incentive Plan.

 

4.                                      ELIGIBILITY.

 

Options shall be granted under this Sub-Plan only to
Non-Employee Directors of the Company.

 

5.                                      NON-DISCRETIONARY
GRANTS.

 

(a)                                  Except
as provided in Section 5(b) below, each Non-Employee Director who served as
such on December 31 of each calendar year, and who also is serving as such
on January 1 of the immediately following calendar year, shall automatically be
granted, on each such January 1, an option to purchase three thousand three
hundred thirty-four (3,334) shares of Common Stock of the Company, and on the
next following May 1 and September 1 (provided such Non-Employee Director is in
Continuous Service with the Company on each of those dates), an option to
purchase three thousand three hundred thirty-three (3,333) shares of Common
Stock of the Company, each grant to be made on the terms and conditions set
forth herein (hereinafter, the “Automatic Grants”); provided, however, that each
of the Automatic Grants made to the Chairman of the Board shall be an option to
purchase five thousand (5,000) shares of Common Stock of the Company.

 

(b)                                  Notwithstanding
the foregoing, a Non-Employee Director who is first elected or appointed to the
Board shall be eligible to receive Automatic Grants in the calendar year
following such election or appointment (if such Non-Employee Director is in
Continuous Service with the Company on each of the applicable grant dates) on a
pro-rated basis such that the number of shares subject to each Automatic Grant
shall be calculated by multiplying the number of shares otherwise subject to
the Automatic Grant as specified in Subsection 5(a) hereof by the quotient
obtained by dividing (x) the number of days the Non-Employee Director served on
the Board in the preceding year by (y) three hundred and sixty-five (365).

 

6.                                      OPTION
PROVISIONS.

 

Each option shall be subject to the following terms
and conditions:

 

(a)                                  The
term of each option commences on the date it is granted and, unless sooner
terminated as set forth herein, expires on the date ten (10) years from the
date of grant (the “Expiration Date”). 
If the Optionholder’s Continuous Service terminates for any reason or
for no reason, the option shall terminate on the earlier of the Expiration Date
or the date three (3) months following the date of such termination; provided,
however, that (i) if such termination of

 

2

 

Continuous Service
is due to Optionholder’s Disability, the option shall terminate on the earlier
of the Expiration Date or twelve (12) months following the termination and (ii)
if such termination of Continuous Service is due to the Optionholder’s death,
the option shall terminate on the earlier of the Expiration Date or eighteen
(18) months following the date of the Optionholder’s death.  In any and all circumstances, an option may
be exercised following termination of the Optionholder’s Continuous Service
only as to that number of shares as to which it was exercisable as of the date
of such termination under the provisions of Subsection 6(e) hereof.

 

(b)                                  The
exercise price of each option shall be equal to one hundred percent (100%) of
the Fair Market Value of the Common Stock subject to such option on the date
such option is granted.

 

(c)                                  The
Optionholder may elect to make payment of the exercise price under one of the
following alternatives:

 

(i)                                    In
cash (or check) at the time of exercise;

 

(ii)                                Payment
pursuant to a program developed under Regulation T as promulgated by the
Federal Reserve Board which, prior to the issuance of Common Stock, results in
either the receipt of cash (or check) by the Company or the receipt of
irrevocable instructions to pay the aggregate exercise price to the Company
from the sales proceeds;

 

(iii)                            Provided
that at the time of exercise the Company’s Common Stock is publicly traded and
quoted regularly in The Wall Street Journal, payment by
delivery of already-owned shares of Common Stock, held for the period required
to avoid a charge to the Company’s reported earnings, and owned free and clear
of any liens, claims, encumbrances or security interests, which Common Stock
shall be valued at its fair market value on the date of exercise; or

 

(iv)                               Payment
by a combination of the methods of payment specified in Subsection 6(c)(i) through
6(c)(iii) above.

 

(d)                                  An
option shall be transferable only to the extent specifically provided in the
option agreement; provided, however, that if the option agreement does not
specifically provide for the transferability of an option, then the option
shall not be transferable except by will or by the laws of descent and
distribution, or pursuant to a domestic relations order and shall be
exercisable during the lifetime of the person to whom the option is granted
only by such person (or by his guardian or legal representative) or transferee
pursuant to such an order. 
Notwithstanding the foregoing, the Optionholder may, by delivering
written notice to the Company in a form satisfactory to the Company, designate
a third party who, in the event of the death of the Optionholder, shall
thereafter be entitled to exercise the option.

 

(e)                                  Each
option shall become vested and exercisable in four (4) equal monthly
installments.  The vesting of each
installment shall occur on the last day of each month beginning with the month
in which the option was granted; provided that the Optionholder’s
Continuous Service has not been interrupted during the period preceding each
vesting date.

 

3

 

(f)                                    Each
option shall include a provision whereby the Optionholder may elect at any time
before the Optionholder’s Continuous Service terminates to exercise the option
as to any part or all of the shares of Common Stock subject to the option prior
to the full vesting of the option.  Any
unvested shares of Common Stock so purchased will be subject to a repurchase
option in favor of the Company.

 

(g)                                 Notwithstanding
anything to the contrary contained herein, an option may not be exercised
unless the shares issuable upon exercise of such option are then registered
under the Securities Act or, if such shares are not then so registered, the
Company has determined that such exercise and issuance would be exempt from the
registration requirements of the Securities Act.

 

7.                                      COVENANTS
OF THE COMPANY.

 

(a)                                  During
the terms of the options granted under the Sub-Plan, the Company shall keep
available at all times the number of shares of Common Stock required to satisfy
such options.

 

(b)                                  The
Company shall seek to obtain from each regulatory commission or agency having
jurisdiction over the Sub-Plan such authority as may be required to issue and
sell shares of Common Stock upon exercise of the options granted under the
Sub-Plan; provided,
however, that this undertaking shall not require the Company to register
under the Securities Act either the Sub-Plan, any option granted under the
Sub-Plan, or any Common Stock issued or issuable pursuant to any such
option.  If, after reasonable efforts,
the Company is unable to obtain from any such regulatory commission or agency
the authority which counsel for the Company deems necessary for the lawful
issuance and sale of Common Stock under the Sub-Plan, the Company shall be
relieved from any liability for failure to issue and sell Common Stock upon
exercise of such options.

 

8.                                      USE
OF PROCEEDS FROM STOCK.

 

Proceeds from the sale of Common Stock pursuant to
options granted under the Sub-Plan shall constitute general funds of the
Company.

 

9.                                      MISCELLANEOUS.

 

(a)                                  Neither
an Optionholder nor any person to whom an option is transferred under
Subsection 6(d) hereof shall be deemed to be the holder of, or to have any of
the rights of a holder with respect to, any shares subject to such option
unless and until such person has satisfied all requirements for exercise of the
option pursuant to its terms.

 

(b)                                  Nothing
in the Sub-Plan, the Equity Incentive Plan or in any instrument executed
pursuant thereto shall confer upon any Non-Employee Director any right to
continue in the service of the Company or any Affiliate in any capacity or
affect any right of the Company, its Board, stockholders or Affiliates to
remove any Non-Employee Director pursuant to the Company’s Bylaws and the
provisions of the Delaware General Corporations Law.

 

4

 

(c)                                  No
Non-Employee Director, individually or as a member of a group, and no
beneficiary or other person claiming under or through him, shall have any
right, title or interest in or to any Common Stock or option reserved for
purposes of the Sub-Plan except as to such shares of Common Stock, if any, as
shall have been reserved for such person pursuant to an option granted to such
person.

 

(d)                                  In
connection with each option made pursuant to the Sub-Plan, it shall be a
condition precedent to the Company’s obligation to issue or transfer shares to
a Non-Employee Director, or to evidence the removal of any restrictions on
transfer, that such Non-Employee Director make arrangements satisfactory to the
Company to insure that the amount of any federal, state or local withholding
tax required to be withheld with respect to such sale or transfer, or such
removal or lapse, is made available to the Company for timely payment of such
tax.

 

10.                               ADJUSTMENTS
UPON CHANGES IN STOCK.

 

(a)                                  Capitalization
Adjustments.  Except as expressly
provided otherwise herein, any adjustments in stock under this Sub-Plan shall
occur in accordance with the provisions of Section 11(a) of the Equity
Incentive Plan.

 

(b)                                  Dissolution
or Liquidation.  In the event of a
dissolution or liquidation of the Company, then all options outstanding under
this Sub-Plan shall terminate immediately prior to such event.

 

(c)                                  Corporate
Transaction.  In the event of (i) a
sale, lease or other disposition of all or substantially all of the assets of
the Company, (ii) a merger or consolidation in which the Company is not the
surviving corporation or (iii) a reverse merger in which the Company is the
surviving corporation but the shares of Common Stock outstanding immediately
preceding the merger are converted by virtue of the merger into other property,
whether in the form of securities, cash or otherwise, then the vesting of all
options outstanding under this Sub-Plan shall be accelerated in full, and the
options shall terminate if not exercised at or prior to such event.

 

11.                               AMENDMENT
OF THE SUB-PLAN.

 

(a)                                  The
Board at any time, and from time to time, may amend the Sub-Plan and/or some or
all outstanding options granted under the Sub-Plan.  However, except as provided in Section 10 hereof relating to
adjustments upon changes in stock, no amendment shall be effective unless
approved by the stockholders of the Company to the extent stockholder approval
is necessary for the Sub-Plan to satisfy the requirements of Rule 16b-3
promulgated under the Exchange Act or any Nasdaq or securities exchange listing
requirements.

 

(b)                                  Rights
and obligations under any option granted before any amendment of the Sub-Plan
shall not be impaired by such amendment unless (i) the Company requests the
consent of the person to whom the option was granted and (ii) such person
consents in writing.

 

5

 

12.                               TERMINATION
OR SUSPENSION OF THE SUB-PLAN.

 

(a)                                  The
Board may suspend or terminate the Sub-Plan at any time.  Unless sooner terminated, the Sub-Plan shall
terminate concurrently with the termination of the Equity Incentive Plan.  No options may be granted under the Sub-Plan
while the Sub-Plan is suspended or after it is terminated.

 

(b)                                  Rights
and obligations under any option granted while the Sub-Plan is in effect shall
not be impaired by suspension or termination of the Sub-Plan, except with the
consent of the person to whom the option was granted.

 

13.                               EFFECTIVE
DATE OF SUB-PLAN.

 

The Sub-Plan shall become effective upon adoption by
the Board.

 

14.                               CHOICE
OF LAW.

 

The laws of the State of California shall govern all
questions concerning the construction, validity and interpretation of the
Sub-Plan, without regard to such state’s conflict of laws rules.

 

6

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