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Exhibit 10.32    
    

 
 

Summary of Compensation Payable to Named Executive Officers    
    

The Compensation Committee of the Board of Directors of Yahoo! Inc. approved the annual base salaries (effective January 1, 2005) of Yahoo!'s executive officers
for 2005. The following table shows the annual base salary for 2005 of our Chief Executive Officer and four most highly compensated other executive officers (based on their total annual salary and
bonus compensation during 2004), also referred to as the Named Executive Officers. 

	Name and Principal Position
 
	 	Salary*

	Terry S. Semel

Chairman and Chief Executive Officer	 	$	600,000
	Susan L. Decker

Executive Vice President, Finance and Administration and Chief Financial Officer	 	$	500,000
	Daniel L. Rosensweig

Chief Operating Officer	 	$	500,000
	Farzad Nazem

Chief Technical Officer and Executive Vice President, Engineering and Site Operations	 	$	450,000
	Michael J. Callahan

Senior Vice President, General Counsel and Secretary	 	$	300,000

In
addition to receiving base salary, Yahoo!'s Named Executive Officers are eligible to receive an annual bonus based on individual performance and Yahoo!'s overall achievement of its financial plan. 

Equity
compensation plan grants to Yahoo!'s Named Executive Officers are reported on Form 4 filings with the Securities and Exchange Commission. 

	*
	With
the exception of Mr. Callahan's base salary, which increased from $275,000 to $300,000, the base salaries for the Named Executive Officers did not increase from previously
effective base salaries. 

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Exhibit 10.32

Summary of Compensation Payable to Named Executive OfficersQuickLinks
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EXHIBIT 10.2  

 
 

Summary of Titan's Annual Cash Incentive Program for Executive Officers    
    

        Titan maintains an annual cash incentive compensation program for executive officers of the Company, whereby a substantial portion of total compensation is
related to overall corporate performance and the achievement of individual objectives, as determined by the Compensation Committee of the Board of Directors. As such, a significant portion of
executive officers' compensation is "at risk". 

        Annual
cash incentive bonuses are paid to the chief executive officer (CEO) and each executive officer, based on Titan's corporate performance against its annual operating plan and the
achievement of personal objectives, with target cash incentive compensation ranging from 30% to 80% of base salary compensation. The Compensation Committee approves the objectives for the CEO and the
CEO proposes and the Compensation Committee reviews and approves the performance objectives for the other executive officers. The Company performance metrics are based upon the Company's achievement
of certain annual earnings per share (EPS) and cash flow thresholds established in the annual operating plan, as approved by the Board of Directors each year. The program provides that 100% of the
company performance portion of the target compensation program related to EPS and cash flow will be paid upon the achievement of those thresholds. It also provides for none of the applicable portion
of the target compensation to be paid if less than 80% of the EPS and cash flow thresholds are achieved, with a portion being earned based on linear interpolation between 80% and 100% of the
established thresholds. Additionally, for executive officers who are Senior Vice Presidents of Titan and who lead business sectors, the Company metrics also include financial performance objectives
that are specific to the performance of their sectors. Personal performance goals for all executives may include either or both financial and non-financial objectives. 

        In
addition to the target cash incentive available to executive officers, other than Senior Vice Presidents of Titan who lead business sectors, there is a supplemental cash bonus of up
to 15% of base salary compensation based on Titan exceeding by up to 20% of the established EPS portion of the target objective, with linear interpolation between the established target and the actual
result. Executive officers who are Senior Vice Presidents of Titan and who lead business sectors are also eligible for a supplemental cash bonus of up to 15% of base salary compensation based on their
respective sector exceeding by up to 20% of certain financial performance objectives of their sector. The Compensation Committee has the discretion to determine whether performance objectives are
satisfied and to adjust the objectives. 

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Summary of Titan's Annual Cash Incentive Program for Executive OfficersEXHIBIT
10.7.8

 

 

Agreement
to Offset

&

Amendment
#8 to Carrier Service Agreement

 

September
14, 2004

 

This Agreement to provide the right to offset
certain amounts is entered into by and among Global Crossing Bandwidth, Inc. (“Global
Crossing Bandwidth”), Global Cross Telecommunications (“Global Cross
Telecommunications”) and Eschelon Telecom Inc. (“Eschelon”), their respective
affiliates, successors or assigns (collectively, the “Eschelon Affiliates”),
Global Crossing Affiliates and Eschelon Affiliates shall sometimes be referred
to collectively as the “Parties” and individual as a “Party”.  The Parties acknowledge:

 

WHEREAS, this is Amendment #8 to the Carrier
Service Agreement between Global Crossing Bandwidth and Eschelon, on behalf of
itself and respective affiliates that my provide or obtain a portion of the
Services thereunder dated August 25, 2000, as amended (the “Wholesale Service
Agreement”); and

 

WHEREAS, Global Crossing Telecommunications
purchases certain Services from Eschelon under an agreement and/or pursuant to
tariff (the “Master Service Agreement”).

 

NOW, THEREFORE, in consideration of the
foregoing and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

1.                                       The Parties
hereto agree that any current or future arrangement for the provision and
purchase of telecommunications or enhanced services by and between one or more
of the Global Crossing Affiliates and one or more of the Eschelon affiliates, regardless
of whether in accordance with a contract or tariff (collectively, the “Service
agreements”), unless specifically excluded herein, shall be subject to the
offset arrangement more fully described below, notwithstanding any terms to the
contrary therein, and the Parties further agree expressly to modify any
contrary terms to permit such offset.  In
no event shall this Agreement to Offset apply to services rendered prior to
January 26, 2002.

 

2.                                       The Parties
agree to provide the right to offset amounts owed to each other only: (1) for
Services rendered under the Service Agreements; (ii) for any undisputed amounts
(whether billed or unbilled as of this date of the offset) that, after the  expiration of any applicable notice and cure
period, are more than forth-eight (48) hours past due under the then-current
payment terms; and (iii) to the extent that such undisputed past due amounts
are recovered, after which the payment terms shall revert to the terms in
effect just prior to the offset (“Offset Arrangement”).

 

3.                                       Global Crossing
Affiliates and Eschelon Affiliates agree to reconcile the monthly invoices
between them to determine the amount owed which Party under 

 

1

 

 

the respective Service
Agreements giving rise to the Offset Arrangement.  The balance, if any,. due to a Party after
such Offset Arrangement will be paid under the terms of the respective Service
Agreement or other mutually agreed upon terms.

 

4.                                       In the event
that, upon the termination of the Service Agreements, there is any excess
amount paid by Global Crossing Telecommunications for Services provided by
Eschelon Affiliates, said amount shall be promptly returned to global Crossing
Telecommunications.  In the event there is
any deficiency in the amount paid to Eschelon Affiliates, Global Crossing
Telecommunications shall promptly pay said deficiency.

 

5.                                       In the event that,
upon this termination of the Services Agreements, there is any excess amount
paid by Eschelon Affiliates for Services provided by Global Crossing Bandwidth,
said amount shall be promptly returned to Eschelon Affiliates.  In the event there is any deficiency in the
amount paid to Global Crossing Bandwidth, Eschelon Affiliates shall promptly
pay said deficiency to Global Crossing Bandwidth.

 

6.                                       Any Party
hereto may terminate this right to offset upon ninety (90) days written notice
to the other Parties.

 

7.                                       Nothing in this
Agreement shall be, or is deemed to be, a waiver of any claims or causes of
action of one Party against another.

 

8.                                       The balance of
the respective Service Agreements and any executed amendments or addendums
thereto not modified by this Amendment shall remain in full force and effect.

 

9.                                       This Amendment
may be executed in several counterparts, each of which shall constitute an original,
but all of which shall constitute one and the same instrument.

 

10.                                 Each Party
hereto represents and warrants that it is duly authorized to execute this
Offset Agreement and Amendment on behalf of itself and the affiliates that are
party to all respective Service Agreements and agrees to indemnify, hold
harmless, and defend the other Parties hereto, their affiliates, and their
respective officers, directors, shareholders, employees, agents, successors and
assigns from and against any and all damages, losses, debts, claims, liabilities,
demands, charges, suits, penalties, costs and expenses, whether accrued,
absolute, contingent or otherwise, known or unknown, including but not limited
to court costs and reasonable attorney’s fees, which any of the foregoing may
incur, or to which any of the foregoing may be subjected, arising out of or
otherwise based upon any charges, demands, actions or lawsuits relating to the
validity or enforceability of such representatives and warrants.

 

2

 

11.                                 This Amendment
is effective as of the last date signed by the Parties below.

 

 

	
  Global Crossing Bandwidth,
  Inc.

  	
  Eschelon Telecom, Inc.

  
	
   

  	 

	
  By:

  	
  /s/ Greg Spraetz

  	
   

  	
  By:

  	
  /s/ Richard A. Smith

  	 

	
   

  	
  Greg Spraetz, SRVP

  	
  Print Name:  Richard A. Smith

  	 

	
   

  	
  North American Carrier
  Services

  	
  Print Title:    President and CEO

  	 

	
   

  	 

	
  Date:

  	
  9-22-04

  	
   

  	
  Date: 9/14/04                                     

  	 

	
   

  	 

	
  Global Crossing
  Telecommunications, Inc.

  	
  Eschelon Telecom, Inc.

  	 

	
   

  	 

	
  By:

  	
  /s/ Tammy R. Felber

  	
   

  	
  By:

  	
  /s/ Richard A. Smith

  	 

	
   

  	
  Printed Name: Tammy R.
  Felber

  	
  Print Name:

  	 

	
   

  	
  Printed Title: Director,
  Carrier Relations

  	
  Print Title:

  	 

	
   

  	 

	
  Date:

  	
  09-28-04

  	
   

  	
  Date:_________________________

  	 

												

 

3

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