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EXHIBIT 10.4(A)

YAHOO! INC.

1996 DIRECTORS’ STOCK PLAN

(AS AMENDED AND RESTATED NOVEMBER 26, 2007)

1. Purposes of the Plan. The purposes of this 1996 Directors’ Stock Plan are to attract and retain
the best available personnel for service as Directors of the Company, to provide additional
incentive to the Outside Directors of the Company to serve as Directors, and to encourage their
continued service on the Board. This version of the Plan is effective on and after the Effective
Date, and awards granted on or after the Effective Date shall be made under this version of the
Plan and not under the Plan as previously in effect. For the terms and conditions of the Plan
applicable to Awards granted under the Plan before the Effective Date, refer to the version of the
Plan in effect as of the date such Award was granted.

	2.	 	Definitions. As used herein, the following definitions shall apply:
	 
	 	 	“Applicable Laws” means any legal requirements of all state and federal laws, including
without limitation securities laws and the Code, relating to the administration of stock
incentive plans such as the Plan.
	 
	 	 	“Award” means an award of Options or Restricted Stock Units (each as defined below).
	 
	 	 	“Board” shall mean the Board of Directors of the Company.
	 
	 	 	“Code” shall mean the Internal Revenue Code of 1986, as amended.
	 
	 	 	“Common Stock” shall mean the Common Stock of the Company.
	 
	 	 	“Company” shall mean Yahoo! Inc., a Delaware corporation.
	 
	 	 	“Continuous Status as a Director” shall mean the absence of any interruption or termination
of service as a Director.
	 
	 	 	“Director” shall mean a member of the Board.
	 
	 	 	“Director Fees” shall mean the amount of all compensation payable to a Director for services
as a member of the Board (including service on any Board committee) that, but for any
election made by such Director to receive such compensation in the form of an Award under
Section 11 of the Plan, would have been payable in cash to such Director.
	 
	 	 	“Effective Date” shall mean November 26, 2007.
	 
	 	 	“Employee” shall mean any person, including officers and directors, employed by the Company
or any Parent or Subsidiary of the Company. The payment of a director’s fee by the Company
shall not be sufficient in and of itself to constitute “employment” by the Company.
	 
	 	 	“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

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	 	 	“Fair Market Value” means, as of any date, the fair market value of Common Stock determined
as follows:

	 	(i)	 	If the Common Stock is listed on any established stock exchange or a national
market system, including without limitation the Nasdaq Global Market and Nasdaq Global
Select Market, its Fair Market Value shall be the closing sales price for such stock as
quoted on such exchange or system on the date of determination (if for a given day no
sales were reported, the closing bid on that day shall be used), as such price is
reported in The Wall Street Journal or such other source as the Board deems reliable;
	 
	 	(ii)	 	If the Common Stock is listed on the Nasdaq Stock Market (but not on the Nasdaq
Global Market or Nasdaq Global Select Market thereof) or regularly quoted by a
recognized securities dealer but selling prices are not reported, its Fair Market Value
shall be the mean between the bid and asked prices for the Common Stock on the date of
determination, as reported in The Wall Street Journal or such other source as the Board
deems reliable; or
	 
	 	(iii)	 	In the absence of an established market for the Common Stock, the Fair Market
Value thereof shall be determined in good faith by the Board.

	 	 	“Option” shall mean a stock option granted pursuant to the Plan. All Options shall be
nonstatutory stock options (i.e., options that are not intended to qualify as incentive
stock options under Section 422 of the Code).
	 
	 	 	“Outside Director” shall mean a Director who is not an Employee.
	 
	 	 	“Parent” shall mean a “parent corporation,” whether now or hereafter existing, as defined in
Section 424(e) of the Code.
	 
	 	 	“Participant” shall mean an Outside Director who receives an Award.
	 
	 	 	“Plan” shall mean this 1996 Directors’ Stock Plan (formerly known as the “1996 Directors’
Stock Option Plan”).
	 
	 	 	“Restricted Stock Unit” shall mean the right to receive one Share, subject to the terms and
conditions hereof.
	 
	 	 	“Share” shall mean a share of the Common Stock, as adjusted in accordance with Section 13 of
the Plan.
	 
	 	 	“Stock Exchange” shall mean any stock exchange or consolidated stock price reporting system
on which prices for the Common Stock are quoted at any given time.
	 
	 	 	“Subsidiary” shall mean a “subsidiary corporation,” whether now or hereafter existing, as
defined in Section 424(f) of the Code.

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	3.	 	Stock Subject to the Plan.

	 	(a)	 	Share Limits. Subject to the provisions of Section 13 of the Plan, the maximum
aggregate number of Shares which may be issued under the Plan (including Shares issued
before the Effective Date) is 8,800,000 Shares (the “Pool”) of Common Stock. The
Shares may be authorized, but unissued, or reacquired Common Stock. Shares issued in
payment of any Restricted Stock Units granted under the Plan shall be counted against
the Pool as 1.75 shares for every one Share actually issued in payment of such
Restricted Stock Units. (For example, if 100 Shares were issued in payment of
Restricted Stock Units granted under the Plan, 175 Shares shall be charged against the
Pool in connection with that payment.)
	 
	 	(b)	 	Reissue of Shares. Shares that are subject to or underlie Awards which expire
or for any reason are cancelled or terminated, are forfeited, fail to vest, or for any
other reason are not paid or delivered under the Plan shall again be available for
subsequent Awards under the Plan. If Shares which were acquired upon exercise or
payment of an Award are subsequently repurchased by the Company, such Shares shall not
in any event be returned to the Plan and shall not become available for future grant
under the Plan.

	4.	 	Administration of and Grants of Awards Under the Plan.

	 	(a)	 	Administrator. Except as otherwise required herein, the Plan shall be
administered by the Board.
	 
	 	(b)	 	Procedure for Grants. All grants of Awards hereunder shall be automatic and
nondiscretionary and shall be made strictly in accordance with the following
provisions:

	 	(i)	 	Subject to the Board’s amendment authority pursuant to Section
15(a), no person shall have any discretion to select which Outside Directors
shall be granted Awards or to determine the number of Shares to be covered by
Awards granted to Outside Directors.
	 
	 	(ii)	 	Each Outside Director who first becomes an Outside Director at
any time on or after the Effective Date shall be automatically granted (A) an
Option to purchase 30,000 Shares and (B) an Award of 10,000 Restricted Stock
Units, on the date on which such person first becomes an Outside Director,
whether through election by the stockholders of the Company or appointment by
the Board to fill a vacancy.
	 
	 	(iii)	 	Each Outside Director shall be automatically granted (A) an
Option to purchase 15,000 Shares and (B) an Award of 5,000 Restricted Stock
Units, on the date of each Annual Meeting of the Company’s Stockholders which
occurs on or after the Effective Date and immediately following which such
Outside Director is serving on the Board, provided that, on such date, he or
she shall have served on the Board for at least six (6) months prior to

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	 	 	 	the date of such Annual Meeting. In the event that an Outside Director has
not served on the Board for at least six months prior to the date of such
Annual Meeting, the Outside Director’s Option and Restricted Stock Unit
Award granted on the date of such Annual Meeting shall be prorated by
multiplying (x) the number of Shares covered by the Option or the number of
Restricted Stock Units covered by the Restricted Stock Unit Award, as
applicable, which such Outside Director would otherwise be granted, by (y) a
fraction, the numerator of which shall be the number of days on which such
Outside Director served as a member of the Board during the six-month period
immediately preceding the date of the Annual Meeting, and the denominator of
which shall be the total number of days in such six-month period.
	 
	 	(iv)	 	Notwithstanding the provisions of subsections (ii) and (iii)
hereof, in the event that the automatic grant of one or more Awards on any
given date pursuant to such subsections would cause the number of Shares
subject to outstanding Awards plus the number of Shares previously delivered in
respect of Awards granted under the Plan to exceed the Pool, then the number of
Shares to be subject to any Award granted on such date shall be determined by
multiplying (A) the total number of Shares remaining available under the Plan
before giving effect to any Award grants on such date, by (B) a fraction, the
numerator of which shall be the number of shares that would otherwise be
subject to such Award pursuant to subsection (ii) or (iii) hereof, as
applicable, and the denominator of which shall be the number of shares that
would otherwise be subject to all Awards automatically granted on such date
pursuant to subsections (ii) and (iii) hereof. Any further automatic grants
shall then be deferred until such time, if any, as additional Shares become
available for grant under the Plan through action of the stockholders to
increase the number of Shares which may be issued under the Plan or through
cancellation or expiration of Awards previously granted hereunder.
	 
	 	(v)	 	The terms of each Option and Restricted Stock Unit Award
granted under subsection (ii) or subsection (iii) hereof shall be as follows:

	 	(1)	 	Any Option granted under such provisions shall
be exercisable only while the Outside Director remains a Director of
the Company, except as set forth in Section 9 hereof.
	 
	 	(2)	 	The exercise price per Share of any Option
granted under such provisions shall be 100% of the Fair Market Value
per Share on the date of grant of the Option.
	 
	 	(3)	 	Any Option granted under such provisions shall
become exercisable in installments as to one-fourth of the Shares
subject to the Option at the end of each three-month period following
the

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	 	 	 	date of grant of the Option, such that the Option will be fully
vested on the first anniversary of the date of grant of the Option.
	 
	 	(4)	 	Any Restricted Stock Unit Award granted under
such provisions shall become non-forfeitable in installments as to
one-fourth of the Restricted Stock Units subject to the Award at the
end of each three-month period following the date of grant of the
Award, such that the Award will be fully vested on the first
anniversary of the date of grant of the Award, and shall be paid in
accordance with Section 10 of the Plan.

	 	(c)	 	Powers of the Board. Subject to the provisions and restrictions of the Plan,
the Board shall have the authority, in its discretion: (i) to determine, upon review
of relevant information and in accordance with the provisions hereof, the Fair Market
Value of the Common Stock; (ii) to determine the exercise price per share of Options
to be granted, which exercise price shall be determined in accordance with Section
8(a) of the Plan; (iii) to interpret the Plan; (iv) to prescribe, amend and rescind
rules and regulations relating to the Plan; (v) to authorize any person to execute on
behalf of the Company any instrument required to effectuate the grant of an Award
previously granted hereunder; and (vi) to make all other determinations deemed
necessary or advisable for the administration of the Plan. The Board has discretion
to accelerate the vesting of any or all Awards granted under the Plan in such
circumstances as it, in its discretion, deems appropriate.
	 
	 	(d)	 	Effect of Board’s Decision. All decisions, determinations and interpretations
of the Board shall be final and binding on all Participants and any other holders of
any Awards granted under the Plan.
	 
	 	(e)	 	Suspension or Termination of Award. If the Board reasonably believes that a
Participant has committed an act of misconduct, the Board may suspend the Participant’s
right to exercise any Option or otherwise receive any Shares or other payment in
respect of any Award granted to such Participant pending a determination by the Board.
If the Board (excluding the Participant accused of such misconduct) determines a
Participant has committed an act of embezzlement, fraud, dishonesty, nonpayment of an
obligation owed to the Company, breach of fiduciary duty or deliberate disregard of the
Company rules resulting in loss, damage or injury to the Company, or if a Participant
makes an unauthorized disclosure of any Company trade secret or confidential
information, engages in any conduct constituting unfair competition, induces any
Company customer to breach a contract with the Company or induces any principal for
whom the Company acts as agent to terminate such agency relationship, neither the
Participant nor his or her estate shall be entitled to exercise or receive payment of
any Award whatsoever. In making such determination, the Board shall act fairly and
shall give the Participant an opportunity to appear and present evidence on the
Participant’s behalf at a hearing before the Board or a committee of the Board.

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	5.	 	Eligibility. Awards may be granted only to Outside Directors. Except as provided in Section
11, all Awards shall be automatically granted in accordance with the terms set forth in
Section 4(b) hereof. An Outside Director who has been granted an Award may, if he or she is
otherwise eligible, be granted an additional Award or Awards in accordance with such
provisions. The Plan shall not confer upon any Outside Director any right with respect to
continuation of service as a Director or nomination to serve as a Director, nor shall it
interfere in any way with any rights which the Director or the Company may have to terminate
his or her directorship at any time.
	 
	6.	 	Term of Plan. The Plan shall continue in effect until April 1, 2015 unless sooner terminated
under Section 15 of the Plan.
	 
	7.	 	Term of Options. The term of each Option shall be seven (7) years from the date of grant
thereof.
	 
	8.	 	Option Exercise Price and Consideration.

	 	(a)	 	Exercise Price. The per Share exercise price for the Shares to be issued
pursuant to exercise of an Option shall be 100% of the Fair Market Value per Share on
the date of grant of the Option.
	 
	 	(b)	 	Form of Consideration. The consideration to be paid for the Shares to be
issued upon exercise of an Option shall consist entirely of cash, check, other Shares
of Common Stock having a Fair Market Value on the date of surrender equal to the
aggregate exercise price of the Shares as to which said Option shall be exercised
(which, if acquired from the Company, shall have been held for at least six months),
delivery of a properly executed notice of exercise 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, or any combination of such methods of
payment and/or any other consideration or method of payment as shall be permitted under
applicable corporate law.

	9.	 	Exercise of Option.

	 	(a)	 	Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder
shall be exercisable at such times as are set forth in Section 4(b) hereof. An Option
may not be exercised for a fraction of a Share. An Option shall be deemed to be
exercised when written notice of such exercise has been given to the Company (or such
other administrative exercise procedures as the Board may implement from time to time
have been completed) by the person entitled to exercise the Option and full payment for
the Shares with respect to which the Option is exercised has been received by the
Company. Full payment may consist of any consideration and method of payment allowable
under Section 8(b) hereof. Until such Shares are actually issued to and held of record
by the Participant, the Participant shall have no right to vote or receive dividends or
any other rights as a stockholder with respect to such Shares, notwithstanding the
exercise of the Option. The Company shall issue (or cause to be issued) such Shares as
soon as

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	 	 	 	practicable after exercise of the Option. No adjustment will be made for a dividend
or other right for which the record date is prior to the date such Shares are
issued, except as provided in Section 13. Exercise of an Option in any manner shall
result in a decrease in the number of Shares which thereafter may be available, both
for purposes of the Plan and for sale under the Option, by the number of Shares as
to which the Option is exercised.
	 
	 	(b)	 	Termination of Status as a Director. If an Outside Director ceases to serve as
a Director for any reason, he or she may, but only within one (1) year after the date
he or she ceases to be a Director of the Company, exercise his or her Option to the
extent that he or she was entitled to exercise it at the date of such termination.
Notwithstanding the foregoing, in no event may the Option be exercised after its term
set forth in Section 7 has expired. To the extent that such Outside Director was not
entitled to exercise an Option at the date of such termination, or does not exercise
such Option (which he or she was entitled to exercise) within the time specified
herein, the Option shall terminate.

	10.	 	Restricted Stock Units.

	 	(a)	 	Lapse of Restrictions; Termination of Service. Subject to this Section 10(a),
any Award of Restricted Stock Units granted hereunder shall become non-forfeitable at
such times as are set forth in Section 4(b)(v)(4) hereof. In the event of the
termination of a Participant’s Continuous Service as a Director for any reason, any
Restricted Stock Units held by such Participant as to which the restrictions in
accordance with Section 4(b)(v)(4) hereof have not lapsed prior to the termination of
the Participant’s Continuous Service as a Director shall be automatically forfeited by
the Participant as of the date of such termination. Neither the Participant nor any of
the Participant’s successors, heirs, assigns or personal representatives shall have any
rights or interests in any Restricted Stock Units that are so forfeited.
	 
	 	(b)	 	No Rights as a Stockholder. Restricted Stock Units are bookkeeping entries
only. A Participant who is awarded Restricted Stock Units shall possess no incidents
of ownership with respect to such Restricted Stock Units, except as expressly provided
in this Section 10(c) with respect to dividend equivalent rights.
	 
	 	(c)	 	Dividend Equivalent Rights. As of any date that the Company pays an ordinary
cash dividend on its Common Stock, each Participant shall automatically be granted
under the Plan a number of additional Restricted Stock Units equal to (i) the per share
cash dividend paid by the Company on its Common Stock on such date, multiplied by (ii)
the number of outstanding and unpaid Restricted Stock Units (whether or not
non-forfeitable) held by such Participant under the Plan as of the related dividend
payment record date, divided by (iii) the Fair Market Value of a share of Common Stock
on the date of payment of such dividend. Any Restricted Stock Units granted pursuant
to the foregoing provisions of this Section 10(c) shall be subject to the same vesting,
payment (including, without limitation, any election by the Participant to defer
payment pursuant to Section 10(e)) and other terms,

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	 	 	 	conditions and restrictions as the original Restricted Stock Units to which they
relate.
	 
	 	(d)	 	Timing and Manner of Payment of Restricted Stock Units. Subject to Sections
10(e) and 13(b) hereof, with respect to any Restricted Stock Units granted to a
Participant that become non-forfeitable pursuant to the terms hereof, such Restricted
Stock Units shall be paid on or as soon as practicable after (and in all events within
two and one-half months after) the earlier of (i) the date such Participant’s
Continuous Service as a Director terminates, or (ii) the third anniversary of the date
such Restricted Stock Units are granted (the “Payment Date”), such payment to be made
by the Company delivering to the Participant a number of Shares equal to the number of
the Restricted Stock Units being paid on the Payment Date. The Company shall issue the
Shares either (i) in certificate form or (ii) in book entry form, registered in the
name of the Participant. Delivery of any certificates will be made to the
Participant’s last address reflected on the books of the Company unless the Company is
otherwise instructed in writing. Neither the Participant nor any of the Participant’s
successors, heirs, assigns or personal representatives shall have any further rights or
interests in any Restricted Stock Units that are so paid.
	 
	 	(e)	 	Deferral of Payment of Restricted Stock Units. Notwithstanding the first
sentence of Section 10(d), a Participant granted an Award of Restricted Stock Units may
elect, on a form and in a manner prescribed by the Company, that such Restricted Stock
Units shall be paid on or as soon as practicable after any date elected by the
Participant that is at least five (5) years after the original Payment Date; provided,
however, that such election must be irrevocable and shall be effective only if such
election is made at least twelve (12) months before the original Payment Date would
have otherwise occurred. In the event of any such election, the new payment date
timely elected by the Participant shall be the new “Payment Date” with respect to the
Restricted Stock Units covered by the election.

	11.	 	Awards in Lieu of Cash Payment of Fees. Prior to the December 31 that precedes the calendar
year during which any Director Fees are earned by an Outside Director (or such earlier date as
may be prescribed by the Company), the Outside Director may elect, on a form and in a manner
prescribed by the Company, to exchange the right to receive payment of such Director Fees in
cash for the grant of an Award under the Plan pursuant to either Section 11(a) or 11(b) below.

	 	(a)	 	Stock Option. The Outside Director may elect to be granted an Option with
respect to the number of Shares determined by dividing (i) three (3) times the amount
of the Director Fees being exchanged for the Option, by (ii) the Fair Market Value of a
Share as of the date of such exchange. The Option shall be granted on the last day of
the calendar quarter for which the applicable Director Fees would have otherwise been
paid (or such other date as the Board may determine appropriate) and shall be
exercisable immediately upon the date of grant. Except as expressly provided herein,
any Option granted pursuant to this

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	 	 	 	Section 11(a) shall be subject to all of the provisions of the Plan applicable to
Options granted under the Plan.
	 
	 	(b)	 	Restricted Stock Unit Award. The Outside Director may elect to be granted an
Award of Restricted Stock Units. The number of Restricted Stock Units to be covered by
such Award shall be determined by dividing (i) the amount of the Director Fees being
exchanged for the Award, by (ii) the Fair Market Value of a Share as of the date of
such exchange. The Restricted Stock Units shall be granted on the last day of the
calendar quarter for which the applicable Director Fees would have otherwise been paid
(or such other date as the Board may determine appropriate). Such Restricted Stock
Units shall be fully non-forfeitable as of the date of grant. Except as expressly
provided herein, any Restricted Stock Units granted pursuant to this Section 11(b)
shall be subject to all of the provisions of the Plan applicable to Awards of
Restricted Stock Units granted under the Plan.

	12.	 	Nontransferability of Awards. Awards granted under the Plan may not be sold, pledged,
assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the
laws of descent or distribution or pursuant to a qualified domestic relations order (as
defined by the Code or the rules thereunder). The designation of a beneficiary by a
Participant does not constitute a transfer. An Option may be exercised during the lifetime of
a Participant only by the Participant or a transferee permitted by this Section 12.
	 
	13.	 	Adjustments upon Changes in Capitalization; Corporate Transactions.

	 	(a)	 	Adjustments. Subject to any required action by the stockholders of the
Company, the number of shares of Common Stock covered by each outstanding Award, and
the number of shares of Common Stock which have been authorized for issuance under the
Plan but as to which no Awards have yet been granted or which have been returned to the
Plan upon cancellation or expiration of an Award, as well as the price per share of
Common Stock covered by each outstanding Option, shall be proportionately adjusted for
any increase or decrease in the number of issued shares of Common Stock resulting from
a stock split, reverse stock split, stock dividend, combination or reclassification of
the Common Stock, or any other increase or decrease in the number of issued shares of
Common Stock effected without receipt of consideration by the Company; provided,
however, that conversion of any convertible securities of the Company shall not be
deemed to have been “effected without receipt of consideration.” Such adjustment shall
be made by the Board, whose determination in that respect shall be final, binding and
conclusive. Except as expressly provided herein, no issuance by the Company of shares
of stock of any class, or securities convertible into shares of stock of any class,
shall affect, and no adjustment by reason thereof shall be made with respect to, the
number or price of shares of Common Stock subject to any Award.
	 
	 	(b)	 	Corporate Transactions. In the event of (i) a dissolution or liquidation of
the Company, (ii) a sale of all or substantially all of the Company’s assets, (iii) a
merger or consolidation in which the Company is not the surviving corporation,

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	 	 	 	or (iv) any other capital reorganization in which more than fifty percent (50%) of
the shares of the Company entitled to vote are exchanged (a “Corporate
Transaction”), at the time of adoption of the plan for such Corporate Transaction,
the Company shall:

	 	•	 	in the case of outstanding Options, provide for either a reasonable time
thereafter within which to exercise the Option, including Shares as to which
the Option would not be otherwise exercisable, prior to the effectiveness of
such Corporate Transaction, at the end of which time the Option shall
terminate, or the right to exercise the Option, including Shares as to which
the Option would not be otherwise exercisable (or receive a substitute option
with comparable terms), as to an equivalent number of shares of stock of the
corporation succeeding the Company or acquiring its business by reason of such
Corporate Transaction; and
	 
	 	•	 	in the case of outstanding Restricted Stock Units, provide that,
immediately prior to the effectiveness of such Corporate Transaction, all such
Restricted Stock Units (A) to the extent that such Restricted Stock Units are
not then non-forfeitable, shall become non-forfeitable, and (B) shall be paid
in an equivalent number of Shares; provided, however, that payment shall be
made in respect of a Corporate Transaction pursuant to the foregoing clause
(B) only if such Corporate Transaction constitutes a “change in the ownership
or effective control” of the Company or a “change in the ownership of a
substantial portion of the assets” of the Company within the meaning of
Section 409A(a)(2)(A)(v) of the Code; and provided further, that in the event
the foregoing proviso is not satisfied, payment shall be made at the time
otherwise provided herein.

	14.	 	Time of Granting Awards. The date of grant of an Award shall, for all purposes, be the date
determined in accordance with Section 4(b) or Section 11 hereof, as applicable. Notice of the
determination shall be given to each Outside Director to whom an Award is so granted within a
reasonable time after the date of such grant.
	 
	15.	 	Amendment and Termination of the Plan.

	 	(a)	 	Amendment and Termination. The Board may amend, alter, suspend, discontinue,
or terminate the Plan or any portion thereof at any time; provided, that no such
amendment, alteration, suspension, discontinuation or termination shall be made without
stockholder approval if such approval is necessary to comply with any tax, securities
or regulatory law or requirement or any applicable Stock Exchange requirement with
which the Board intends the Plan to comply or if such amendment constitutes a “material
amendment.” For purposes of the Plan, a “material amendment” shall mean an amendment
that (i) materially increases the benefits accruing to Participants under the Plan,
(ii) materially increases the number of securities that may be issued under the Plan,
(iii) materially modifies the requirements for participation in the Plan, or (iv) is
otherwise deemed a material

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	 	 	 	amendment by the Board pursuant to any Applicable Law or applicable accounting or
Stock Exchange rules.
	 
	 	(b)	 	Amendments to Awards. Without limiting any other express authority of the
Board under (but subject to) the express limits of the Plan, the Board may waive
conditions of or limitations on Awards that the Board in the prior exercise of its
discretion has imposed, without the consent of the Award recipient, and (subject to the
requirements of Section 15(c)) may make other changes to the terms and conditions of
Awards; provided, however that in no case (except due to an adjustment contemplated by
Section 13 or any repricing that may be approved by stockholders) shall such a waiver
or change constitute a repricing (by amendment, cancellation and regrant, exchange or
other means) of the per share exercise price of any Option.
	 
	 	(c)	 	Limitations on Amendments to Plan and Awards. No amendment, suspension or
termination of the Plan or change of or affecting any outstanding Award shall, without
written consent of the Award recipient, affect in any manner materially adverse to such
recipient any rights or benefits of such recipient or obligations of the Company under
any Award granted under the Plan prior to the effective date of such change. Changes,
settlements and other actions contemplated by Section 13 shall not be deemed to
constitute changes or amendments for purposes of this Section 15(c).

	16.	 	Conditions upon Issuance of Shares. Shares shall not be issued pursuant to the exercise or
payment of any Award granted under the Plan unless the exercise or payment of such Award and
the issuance and delivery of such Shares pursuant thereto shall comply with all relevant
provisions of law, including, without limitation, the Securities Act of 1933, as amended, the
Exchange Act, the rules and regulations promulgated thereunder, state securities laws, and the
requirements of any Stock Exchange, and shall be further subject to the approval of counsel
for the Company with respect to such compliance. As a condition to the exercise or payment of
any Award, the Company may require the person exercising or receiving payment of such Award to
represent and warrant at the time of any such exercise or payment that the Shares are being
acquired only for investment and without any present intention to sell or distribute such
Shares, if, in the opinion of counsel for the Company, such a representation is required by
any of the aforementioned relevant provisions of law.
	 
	17.	 	Reservation of Shares. The Company, during the term of the Plan, will at all times reserve
and keep available such number of Shares as shall be sufficient to satisfy the requirements of
the Plan. Inability of the Company to obtain authority from any regulatory body having
jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful
issuance and sale of any Shares hereunder, shall relieve the Company of any liability in
respect of the failure to issue or sell such Shares as to which such requisite authority shall
not have been obtained.
	 
	18.	 	Award Agreement. Awards shall be evidenced by written award agreements in such form as the
Board shall approve.

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	19.	 	Unfunded Status of Plan. The Plan is intended to constitute an “unfunded” plan for incentive
compensation. With respect to any payments not yet made to a participant by the Company,
nothing contained herein shall give any such participant any rights that are greater than
those of a general creditor of the Company.
	 
	20.	 	Governing Law. The Plan and all determinations made and actions taken pursuant hereto shall
be governed by the laws of the State of Delaware, without giving effect to the conflict of
laws principles thereof.
	 
	21.	 	Construction. The Plan and any agreement evidencing any Award granted hereunder shall be
construed and interpreted to comply with Section 409A of the Code. The Company reserves the
right to amend the Plan and any such agreement to the extent it reasonably determines is
necessary in order to preserve the intended tax consequences of Awards granted hereunder in
light of Section 409A of the Code and any regulations or other guidance promulgated
thereunder.

12exv10w14

 

EXHIBIT 10.14

Summary of Compensation Payable to Named Executive Officers

Base Salary. The Compensation Committee (the “Committee”) of the Board of Directors of Yahoo! Inc.
(“Yahoo!”) has previously approved the annual base salaries of Yahoo!’s principal executive
officer, of Yahoo’s principal financial officer and of the executive officers who were named in the
Summary Compensation Table of Yahoo!’s Proxy Statement filed with the Securities and Exchange
Commission on April 30, 2007 and are currently employed by Yahoo! (together, the “Named Executive
Officers”). The following table shows the current annualized base salary rate for 2008 for each of
the Named Executive Officers:

	 	 	 	 	 
	Name and Principal Position	 	Salary
	Jerry Yang

Chief Executive Officer and Chief Yahoo	 	$	1	 
	Susan Decker

President	 	$	815,000	 
	Blake Jorgensen

Chief Financial Officer	 	$	450,000	 
	Michael J. Callahan

Executive Vice President, General Counsel and Secretary	 	$	360,000	 

Bonus.
In addition to receiving a base salary, Yahoo!’s Named Executive Officers are also generally
eligible to receive an annual bonus.

Ms. Decker will be eligible to receive an annual target cash bonus of 150 percent of her base salary for
the year. Mr. Jorgensen is eligible to receive an annual target
cash bonus of 100 percent of his base
salary for the year. Mr. Callahan is also generally eligible to receive an annual bonus. In each
case, the amount of an executive’s annual bonus, if any, will be determined by the Committee based
on the executive’s and Yahoo!’s performance for the relevant year.

Long-Term Incentives. The Named Executive Officers are also eligible to receive equity-based
incentives and other awards from time to time at the discretion of the Committee. Equity-based
incentives granted by Yahoo! to the Named Executive Officers are reported on Form 4 filings with
the Securities and Exchange Commission.

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