Document:

Notice of Stock Option Grant

 Exhibit 10.17(B) 
 YAHOO! INC. 
 1995 STOCK PLAN 
 (AS AMENDED AND RESTATED JUNE 12, 2007) 
 NOTICE OF STOCK OPTION GRANT 

 Carol Bartz 
 701 First Avenue 
 Sunnyvale, CA 94089 
 You have been granted an option to
purchase Common Stock of Yahoo! Inc., a Delaware corporation (the “Company”), as follows: 
  

			
	Date of Grant:	  	January 30, 2009
		
	Vesting Commencement Date:	  	January 30, 2009
		
	Exercise Price Per Share:	  	$11.73
		
	Total Number of Shares Granted:	  	5,000,000
		
	Total Price of Shares Granted:	  	$58,650,000.00
		
	Type of Option:	  	Nonstatutory Stock Option
		
	Term/Expiration Date:	  	January 30, 2016
		
	Definitions:
	  	Any capitalized terms not otherwise defined herein shall have the definitions set forth in the Plan. In addition to the terms defined in the Plan, the following terms shall have the meanings
set forth in your offer letter with the Company, dated as of January 13, 2009: “Cause,” “Change in Control,” “CIC Agreement,” “Disability,” “Expiration,” “Good Reason,” “Open In
Contemplation Event” and “Term.”
		
	Vesting Schedule:	  	Except as set forth below, this Option shall vest and become exercisable, in whole or in part, based on the attainment of average closing prices for the Company’s Common Stock as
reported on the NASDAQ Global Select Market (the “Market”) for twenty (20) consecutive trading days after the Date of Grant and prior to January 1, 2013 (or, if a Change in Control occurs prior to January 1, 2013, the price of the
Company’s Common Stock on the Market immediately preceding the closing of the Change in Control (the “Change In Control Price”), even if such price is not maintained for twenty (20) consecutive trading days) (in either case,
the “Average Price”) as follows: (i) one third (1/3) of the Option (equal to 1,666,667 Shares) will vest if the Average Price is equal to or greater than one hundred and fifty percent (150%) of the Exercise Price; (ii) an additional
one sixth (1/6) of the Option (equal to 833,333 Shares) will vest if the Average Price is equal to or greater than one hundred and seventy-five percent (175%) of the Exercise Price; (iii) an additional one sixth (1/6) of the Option (equal to 833,334
Shares) will vest if the Average Price is equal to or greater than two hundred percent (200%) of the Exercise Price; (iv) an additional one twelfth (1/12) of the Option (equal to 416,666 Shares) will vest if the Average Price is equal to or greater
than two hundred and twenty-five percent (225%) of the Exercise Price; (v) an additional one twelfth (1/12) of the Option (equal to 416,666 Shares) will vest if the Average Price is equal to or greater than two hundred and fifty percent (250%) of
the

  

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		  	Exercise Price; and (vi) an additional one sixth (1/6) of the Option (equal to 833,334 Shares) will vest if the Average Price is equal to or greater than three hundred percent (300%) of the
Exercise Price (each such target price level shall be referred to as a “Vesting Level”). Vesting shall occur only one time at each applicable Vesting Level, and in no event shall the Option vest with respect to more than the
“Total Number of Shares Granted” set forth above (as such number may be adjusted in accordance with Section 16 of the Plan).
		
		  	If: (i) an Open In Contemplation Event exists on December 31, 2012 as a result of a CIC Agreement entered into while you were employed by the Company; (ii) the related Change in Control
contemplated by the CIC Agreement closes on or after January 1, 2013; and (iii) you are employed by the Company on the date of such closing or you were terminated by the Company without Cause or for Disability, you terminate for Good Reason or your
employment is terminated as a result of your death between the signing of the CIC Agreement and closing of such related Change in Control, a “special measurement” of the Average Price shall be made based on the price of the Company’s
Common Stock on the Market immediately preceding the closing of the Change in Control contemplated by the CIC Agreement, and, if an additional Vesting Level is attained, an additional portion of this Option shall vest at such time. If your
employment terminates for any reason other than as specified above before the closing of the related Change in Control, or, if the obligation to close the Change in Control under the CIC Agreement terminates, the special measurement shall not apply,
and no portion of this Option shall vest pursuant to this paragraph. Furthermore, except as expressly provided in this paragraph, no portion of this Option shall vest on or after January 1, 2013.
		
	Vesting on Termination of Employment:	  	If your employment is terminated by the Company without Cause or by you for Good Reason or due to your death or Disability during the Term (each, a “Termination”), a portion
of the Option shall continue to be eligible to vest based on the Average Price of the Company’s Common Stock in the period following Termination through December 31, 2012, with each tranche not vested as of the date of a Termination to be
prorated by multiplying the number of shares subject to such tranche by a fraction, the numerator of which is the sum of the number of full months of your employment with the Company (with January 2009 considered a full month) plus twelve (12), but
in no event greater than forty-eight (48), and the denominator of which is forty-eight (48) months (“Pro-Rata Treatment”).
		
		  	In the event of a termination of employment (for any reason other than the events set forth in the paragraph above), the vested portion of the Option shall remain exercisable in accordance
with the Termination Period provisions described below, and any unvested portion of the Option shall terminate and expire as of the date of such termination of employment.
		
	Change in Control:	  	If a Change in Control occurs and the Option is continued, assumed or substituted in connection with the Change in Control, the Option shall continue to be eligible to vest in accordance with
the Vesting Schedule (subject to adjustment, as described below) and continue to remain subject to the terms hereof.

  

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		  	If a Change in Control occurs during the Term or thereafter and this Option is not continued, assumed or substituted in connection with the Change in Control, then any unvested portion of the
Option shall vest or be forfeited on the date of such Change in Control, to the extent not previously vested, based on whether the Change In Control Price is at or in excess of the applicable Vesting Level, even if the Change In Control Price is not
maintained for twenty (20) consecutive trading days, provided that any vesting after December 31, 2012 shall only occur to the extent that a Change in Control is covered by the last paragraph of the Vesting Schedule section
above.
		
	Termination Period:	  	In the event of a Termination or your employment is terminated at or after Expiration other than by the Company for Cause, the vested portion of the Option (whether vested before or after
termination of employment) shall remain exercisable until the later of one (1) year after termination of employment or, with respect to any portion of the Option vesting within ninety (90) days prior to the end of such one (1) year period or at any
time thereafter, ninety (90) days from the applicable vesting date, but in no event beyond the Term/Expiration Date of the Option or termination of the Option’s exercisability as a result of an event other than termination of
employment.
		
		  	In the event of a termination of your employment (for any reason other than the events set forth in the paragraph above), the then-vested portion of the Option shall remain exercisable for
ninety (90) days following such termination, provided that in no event shall the Option be exercised after the Term/Expiration Date.
		
	Adjustments:	  	The Option’s Vesting Levels will be adjusted by the Compensation Committee at the same time as adjustments are made in accordance with Section 16 of the Plan with regard to
“Adjustments Upon Change in Capitalization, Corporate Transactions” in a manner similar to and subject to the same requirements as the Total Number of Shares Granted and the Exercise Price under Section 16 of the Plan. For purposes of this
Option, the term “stock dividend” under Section 16 of the Plan shall include dividends or other distributions of Common Stock of the Subsidiaries of the Company.

 By your signature and the signature of the Company’s representative below, you and the
Company agree that this Option is granted under and governed by the terms and conditions of the 1995 Stock Plan and the Stock Option Agreement, which are attached and made a part of this document. 
  

									
	OPTIONEE:	 		 	YAHOO! INC.
				
	 /s/    Carol Bartz
	 		 	By:	 	 /s/    Michael Callahan

	Carol Bartz	 		 		 	Michael Callahan

  

 3Stock Option Agreement

 Exhibit 10.17(C) 
 YAHOO! INC. 
 1995 STOCK PLAN 
 (AS AMENDED AND RESTATED JUNE 12, 2007) 
 STOCK OPTION AGREEMENT

  

	1.	Grant of Option. Yahoo! Inc., a Delaware corporation (the “Company”), hereby grants to the Optionee named in the Notice of Grant (the “Optionee”), an
option (the “Option”) to purchase the total number of shares of Common Stock (the “Shares”) set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the “Exercise Price”)
subject to the terms, definitions and provisions of the 1995 Stock Plan, as amended (the “Plan”), adopted by the Company, which is incorporated in this Agreement by reference. In the event of a conflict between the terms of the Plan and
the terms of this Agreement, the terms of the Plan shall govern. Unless otherwise defined in this Agreement or the Notice of Grant, the terms used in this Agreement shall have the meanings defined in the Plan. 

  

	2.	Exercise of Option. This Option shall be exercisable during its term in accordance with the Vesting Schedule set forth in the Notice of Grant (the “Vesting
Schedule”) and with the provisions of Sections 9 and 10 of the Plan as follows: 

  

	 	(i)	Right to Exercise. 

  

	 	(a)	This Option may not be exercised for a fraction of a share. 

  

	 	(b)	In the event of the Optionee’s death, termination on Disability (as defined in the Optionee’s offer letter with the Company, dated as of January 13, 2009 (the
“Offer Letter”)) or other termination of employment, the exercisability of the Option is governed by Sections 6, 7 and 8 below, subject to the limitations contained in Sections 2(i)(c) and (d). 

  

	 	(c)	In no event may this Option be exercised after the date of expiration of the term of this Option as set forth in the Notice of Grant. 

  

	 	(ii)	Method of Exercise. 

  

	 	(a)	This Option shall be exercisable by delivering notice to the Company or a broker designated by the Company in such form and through such delivery method as shall be acceptable to
the Company or the designated broker, as appropriate (the “Exercise Notice”). The Exercise Notice shall specify the election to exercise the Option and the number of Shares in respect of which the Option is being exercised, shall include
such other representations and agreements as to the holder’s investment intent with respect to such shares of Common Stock as may be required by the Company pursuant to the provisions of the Plan and applicable law, and shall be accompanied by
payment of the Exercise Price, unless it is being exercised by “Net Exercise” (as provided in Section 4 below). This Option shall be deemed to be exercised upon receipt by the Company or the designated broker of such notice
accompanied by, if applicable, the Exercise Price. 

	 	(b)	As a condition to the exercise of this Option, the Optionee agrees to make adequate provision for federal, state or other tax withholding obligations, if any, which arise upon the
exercise of the Option or disposition of Shares, whether by withholding, direct payment to the Company, or otherwise, including net share withholding as specified in the Offer Letter. 

  

	 	(c)	No Shares will be issued pursuant to the exercise of an Option unless such issuance and such exercise shall comply with all relevant provisions of law and the requirements of any
Stock Exchange. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to the Optionee on the date on which the Option is exercised with respect to such Shares. 

  

	3.	Continuance of Employment/Service Required. Except as specifically provided in the Notice of Grant, the Vesting Schedule requires continued employment or service through each
applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Agreement. Except as specifically provided in the Notice of Grant, employment or service for only a portion of
the vesting period, even if a substantial portion, will not entitle the Optionee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Sections
6, 7 and 8 below or under the Plan. 

  

	4.	Method of Payment. Except as provided in the next sentence, the Company shall withhold a number of Shares to be issued upon exercise of the Option which Shares have a Fair
Market Value equal to the Exercise Price (“Net Exercise”). In the event the Company cannot (under applicable legal, regulatory, listing or other requirements, or otherwise) satisfy such Exercise Price in such method (including because
doing so would disqualify the Option from being exempt under Section 409A of the Code) or the parties otherwise agree in writing, the Exercise Price shall be paid by any one or combination of the following methods: (i) by requiring the
Optionee to pay such amount in cash or check; (ii) by allowing the Optionee to surrender other 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 Optionee 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 aggregate Exercise Price of the
Shares as to which said Option is exercised; or (iii) by delivery by the Optionee of a properly executed Exercise Notice together with irrevocable instructions to a broker to deliver promptly to the Company the amount of sale or loan proceeds
required to pay the Exercise Price. 

  

	5.	 Restrictions on Exercise. This Option may not be exercised if the issuance of such Shares upon such exercise or the method of payment of consideration for
such shares would constitute a violation of any applicable federal or state securities or other law or 

  

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regulation, including any rule under Part 207 of Title 12 of the Code of Federal Regulations (“Regulation G”) as promulgated by the Federal Reserve
Board. As a condition to the exercise of this Option, the Company may require the Optionee to make any representation and warranty to the Company as may be required by any applicable law or regulation. 

  

	6.	Termination of Relationship. Except as otherwise specifically provided in the Notice of Grant, in the event of termination of the Optionee’s Continuous Status as an
Employee or Consultant, the Optionee may, to the extent otherwise so entitled at the date of such termination (the “Termination Date”), exercise this Option during the Termination Period set out in the Notice of Grant. To the extent that
the Optionee was not entitled to exercise this Option at the date of such termination, except as otherwise provided in the Notice of Grant, or if the Optionee does not exercise this Option within the time specified in the Notice of Grant, the Option
shall terminate. Further, to the extent allowed by applicable law, if the Optionee is indebted to the Company on the date of termination, the Optionee’s right to exercise this Option shall be suspended until such time as the Optionee satisfies
in full any such indebtedness. 

  

	7.	Disability of Optionee. Except as otherwise provided in the Notice of Grant and notwithstanding the provisions of Section 6 above: 

 (i) In the event of termination of the Optionee’s Continuous Status as an Employee or Consultant as a result of the Optionee’s
Disability, the Optionee may exercise this Option during the Termination Period set out in the Notice of Grant. 
 (ii) To the
extent that the Optionee was not entitled to exercise the Option at the date of termination, or if the Optionee does not exercise such Option (to the extent otherwise so entitled) within the time specified in this Agreement, the Option shall
terminate. 
  

	8.	Death of Optionee. Except as otherwise provided in the Notice of Grant: 

 (i) In the event of the death of the Optionee during the period of the Optionee’s Continuous Status as an Employee or Consultant, or
within thirty (30) days following the termination of the Optionee’s Continuous Status as an Employee or Consultant, the Option may be exercised during the Termination Period set out in the Notice of Grant by the Optionee’s estate or
by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent the Optionee was entitled to exercise the Option at the date of death or, if earlier, the date of termination of the Optionee’s
Continuous Status as an Employee or Consultant. 
 (ii) Except as provided in the Notice of Grant, to the extent that the
Optionee was not entitled to exercise the Option at the date of death or termination, as the case may be, or if the Optionee’s estate or the person who acquired the right to exercise the Option by bequest or inheritance does not exercise such
Option (to the extent otherwise so entitled) within the time specified in this Agreement, the Option shall terminate. 
  

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	9.	Non-Transferability. 

  

	 	(a)	Non-Transferability of Option. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution. The designation of a
beneficiary does not constitute a transfer. This Option may be exercised during the lifetime of the Optionee only by the Optionee. The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the
Optionee. 

  

	 	(b)	Non-Transferability of Stock. Shares of Common Stock received upon exercise of this Option (other than with regard to payment of the Exercise Price and tax withholding in
accordance with Sections 4 and 12, respectively) may not be transferred in any manner otherwise than by will or by the laws of descent or distribution until January 1, 2013, except in the event of the Optionee’s earlier death or at or
after a Change in Control (as defined in the Offer Letter). 

  

	10.	Term of Option. This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and
the terms of this Option. 

  

	11.	No Additional Employment Rights. The Optionee understands and agrees that, except as otherwise provided in the Notice of Grant, the vesting of Shares pursuant to the Vesting
Schedule is earned only by continuing as an Employee or Consultant at the will of the Company (not through the act of being hired, being granted this Option or acquiring Shares under this Agreement). The Optionee 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 Optionee any right with respect to continuation as an Employee or Consultant with the Company, nor shall it interfere in any way
with his or her right or the Company’s right to terminate his or her employment or consulting relationship at any time, with or without cause. 

  

	12.	 Tax Withholding. Except as provided in the next sentence, the Company shall withhold a number of Shares to be issued upon exercise of the Option which Shares
have a Fair Market Value equal to the minimum statutory amount required to be withheld with respect to the portion of the Option exercised. In the event the Company cannot (under applicable legal, regulatory, listing or other requirements, or
otherwise) satisfy such tax withholding obligation in such method or the parties otherwise agree in writing, the Company may satisfy such withholding by any one or combination of the following methods: (i) by requiring the Optionee to pay such
amount in cash or check; (ii) by deducting such amount out of the Optionee’s current compensation; (iii) by allowing the Optionee to surrender other 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 Optionee 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; or (iv) by delivery by the Optionee of a properly executed Exercise Notice together with irrevocable instructions to 

  

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a broker to deliver promptly to the Company the amount of sale or loan proceeds required to pay the amount required to be withheld. For these purposes, the
Fair Market Value of the Shares to be withheld shall be determined on the date that the amount of tax to be withheld is to be determined. 

  

	13.	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 Optionee, to the Optionee’s address appearing on the books of the Company or to the Optionee’s residence or to such other address as may be designated in writing by the Optionee. 

  

	14.	Bound by Plan. By signing this Agreement, the Optionee 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. 

  

	15.	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 Optionee and the beneficiaries,
executors, administrators, heirs and successors of the Optionee. 

  

	16.	Invalid Provision. The invalidity or unenforceability of any particular provision thereof 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. 

  

	17.	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. 

  

	18.	Governing Law. This Agreement and the rights of the Optionee hereunder shall be construed and determined in accordance with the laws of the State of Delaware.

  

	19.	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. 

  

	20.	Signature. This Agreement shall be deemed executed by the Company and the Optionee upon execution by such parties of the Notice of Grant attached to this Agreement.

  

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