Document:

Form of Enrollment Agreement under Yahoo! Inc. 1996 Employee Stock Purchase Plan

 Exhibit 10.3(B) 

YAHOO! INC. 

1996 EMPLOYEE STOCK PURCHASE PLAN 
 ENROLLMENT AGREEMENT 
 1. I hereby elect to participate in the Yahoo! Inc.
1996 Employee Stock Purchase Plan, as amended from time to time (the “Plan”), and subscribe to purchase Shares of the Company’s Common Stock, subject to the terms of this Enrollment Agreement and the Plan. Capitalized terms not
defined herein shall have the meanings ascribed to them in the Plan and the ESPP Administrative Rules adopted pursuant to the Plan (the “ESPP Rules”). I understand that my participation in the Plan will commence with the first Purchase
Period that begins after the date I enroll in the Plan. 
 2. By enrolling in the Plan and making my online enrollment
elections, I agree to have Contributions in the amount of the elected percentage of my Compensation applied to this purchase. I understand that this amount must not be less than 1% and not more than 15% of my Compensation during an Offering Period.
(Please note that no fractional percentages are permitted). 
 3. By enrolling in the Plan and making my online enrollment
elections, I authorize payroll deductions from each paycheck during the Offering Periods in the amount of the elected percentage of my Compensation. I understand that all payroll deductions authorized by me shall be credited to my account under the
Plan and that I may not make any additional payments into such account. I understand that all payments made by me shall be accumulated for the purchase of Shares at the applicable Purchase Price determined in accordance with the Plan. I further
understand that, except as otherwise set forth in the Plan, Shares will be purchased for me automatically on each Purchase Date during the Offering Period unless I otherwise withdraw from the Plan in accordance with the withdrawal procedures in
effect at the time of my withdrawal. 
 4. I understand that I may discontinue participation in the Plan during a Purchase
Period only as provided in Section 10 of the Plan and the ESPP Rules. I also understand that I can decrease the rate of my Contributions on one occasion only during any Purchase Period, or increase the rate of my Contributions for any
subsequent Purchase Period during its Open Enrollment Period, by making a new online election in my account at the ESPP Broker’s internet site. Any such change will be effective as provided in the Plan and the ESPP Rules. In addition, I
acknowledge that, unless I discontinue my participation in the Plan in accordance with the withdrawal procedures in effect at such time, my election will continue to be effective for each successive Offering Period. 

5. In addition to this Enrollment Agreement and the Plan and ESPP Rules (both of which are hereby incorporated by reference in this
Enrollment Agreement), I acknowledge that I have reviewed and understand the Company’s most recent prospectus. The Plan, the ESPP Rules and such prospectus are available free of charge on the Yahoo! Inc. corporate intranet site
(“Backyard”) at http://backyard.yahoo.com/resources/forms/stock/ESPP/ESPP_PlanDocuments.html. I understand that my participation in the Plan is in all respects subject to the terms of the Plan, the ESPP Rules and this
Enrollment Agreement. 

  
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 6. Shares purchased for me under the Plan should be deposited into my account at the
brokerage firm designated by the Company from time to time as the broker to receive Shares under the Plan. 
 7. I understand
that if I dispose of any Shares received by me pursuant to the Plan within two (2) years after the Offering Date (the first day of the Offering Period during which I purchased such Shares or, if I joined the Plan after such date, the first
business day of the Purchase Period with respect to which I joined the Plan during such Offering Period) or within one (1) year after the Purchase Date, and at a price in excess of the discounted purchase price I paid for the shares, I will be
treated for United States federal income tax purposes as having received ordinary compensation income at the time of such disposition in an amount equal to the excess of the Fair Market Value of the Shares on the Purchase Date over the price which I
paid for the Shares, regardless of whether I disposed of the Shares at a price less than their Fair Market Value at the Purchase Date. The remainder of the gain or loss, if any, recognized on such disposition will be treated as capital gain or loss.

 By enrolling in the Plan and making my online enrollment elections, I agree to notify the Company in writing within thirty
(30) days after the date of any such disposition, and I will make adequate provision for federal, state or other tax withholding obligations, if any, which arise upon such disposition of the Shares. The Company may, but will not be obligated
to, withhold from my compensation the amount necessary to meet any applicable withholding obligation including any withholding necessary to make available to the Company any tax deductions or benefits attributable to the sale or early disposition of
Shares by me. 
 I understand that the Prospectus for the Plan includes a more general discussion of the United States tax
consequences of the Plan and that, in any event, I should consult my own tax advisor for specific advice concerning the tax implications of participation in the Plan and the sale of stock acquired under the Plan. 

8. The Company may, in its sole discretion, decide to deliver any documents related to the purchase rights and participation in the Plan
or future purchase rights that may be granted under the Plan by electronic means or to request my consent to participate in the Plan by electronic means. I hereby consent to receive such documents by electronic delivery and to participate in the
Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company. 
 9. If I relocate to another country while I am participating in the Plan or holding Shares acquired under the Plan, the Company reserves the right to impose other requirements on my participation in the
Plan and/or on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable in order to comply with local law or facilitate the administration of the Plan, and to require me to sign any additional agreements
or undertakings that may be necessary to accomplish the foregoing. 
 10. The provisions of this Enrollment Agreement are
severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. 

11. By making my online enrollment elections, I hereby enroll in the Plan and agree to be bound by the terms of the Plan, the ESPP Rules
and this Enrollment Agreement. I understand and acknowledge that the effectiveness of this Enrollment Agreement and my participation in the Plan are dependent upon my eligibility to participate in the Plan. 

  
 2Summary of Compensation Payable to Named Executive Officers

 Exhibit 10.12 
 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 approved the 2011 base salaries of Yahoo!’s principal executive officer, principal financial officer, and the other persons
named in the Summary Compensation Table of Yahoo!’s Proxy Statement filed with the Securities and Exchange Commission on April 29, 2011 who are currently employed as executive officers by Yahoo! (together, the “Named Executive
Officers”). The following table shows for each of the Named Executive Officers the annual base salary for 2011, which became effective on April 1, 2011 (with the exception of the base salary for Ms. Bartz, which is unchanged from
2010): 
  

					
	 Name and Principal Position
	  	2011
Annual
Base
Salary ($)	 
	 Carol Bartz

Chief Executive Officer
	  	 	1,000,000	  
	 Timothy R. Morse

Executive Vice President and Chief Financial Officer
	  	 	600,000	  
	 Blake Irving

Executive Vice President and Chief Product Officer
	  	 	755,000	  
	 Ross Levinsohn

Executive Vice President, Americas
	  	 	700,000	  
	 Michael J. Callahan

Executive Vice President, General Counsel and Secretary
	  	 	500,000	  

 Bonus. In addition to
receiving a base salary, Yahoo!’s Named Executive Officers are also eligible to receive an annual bonus. 
 Yahoo!’s Named Executive
Officer bonuses for 2011 will be determined under Yahoo!’s Executive Incentive Plan. The Named Executive Officers’ respective target bonus opportunities (expressed as a percentage of annual base salary) under the Executive Incentive Plan
for 2011 are as follows: Ms. Bartz – 200%, Mr. Morse – 120%, Mr. Irving – 120%, Mr. Levinsohn – 120%, and Mr. Callahan – 90%. The Committee also has the ability to award discretionary bonuses from
time to time in circumstances the Committee determines to be appropriate. 
 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.First Amendment to Search and Advertising Services and Sales Agreement

 Exhibit 10.18(D) 

FIRST AMENDMENT TO SEARCH AND ADVERTISING SERVICES AND SALES 

AGREEMENT 

This First Amendment to Search and Advertising Services and Sales Agreement (this “First Amendment”) is entered into as
of July 14, 2010 (“First Amendment Effective Date”) by and between Yahoo! Inc., a Delaware corporation (“Yahoo!”) and Microsoft Corporation, a Washington corporation (“Microsoft”). 

WHEREAS, Yahoo! and Microsoft are parties to that certain Search and Advertising Services and Sales Agreement, entered into as of
December 4, 2009 (the “Agreement”); and 
 WHEREAS, the parties wish to amend the Agreement as more fully
described herein to provide Microsoft with a limited number of additional permitted uses of Covered Data. 
 NOW, THEREFORE, in
consideration of the mutual promises contained herein, the parties agree as follows: 
 1. Definitions. Capitalized terms used but not
defined herein have the same meanings given in the Agreement. 
 2. Use of Covered Data. The following shall be inserted immediately
after the fourth sentence of Section 13.2.2 of the Agreement (Disclosure of Personal End User Information): 
 “In
addition, and subject to the restrictions of this Section 13 (including, e.g., the prohibition on Microsoft’s use of Yahoo! Search Data in connection with display advertising services contained in Section 13.1.1), Microsoft may use
Covered Data in connection with Paid Search Services, Contextual Advertising Services and Mobile Paid Search Services implemented in the United States and Canada for the limited purposes stated in Exhibit K (and then only in the manner described
therein).” 
 3. Exhibit K. Exhibit K, attached hereto, is hereby added to the Agreement. 

4. Miscellaneous. This First Amendment will be governed and construed, to the extent applicable, in accordance with the laws of the State of New
York, without regard to its conflict of law principles. This First Amendment may be executed in multiple counterparts, each of which shall be deemed an original and all of which shall constitute one and the same instrument. This First Amendment may
be amended or modified only by a written agreement that (a) refers to this First Amendment; and (b) is executed by an authorized representative of each party. This First Amendment shall be binding on the parties hereto and their respective
personal and legal representatives, successors, and permitted assigns. Except as expressly set forth herein, the Agreement remains in full force and effect and this First Amendment shall not be construed to alter, amend or change any of the other
terms or conditions set forth in the Agreement. To the extent of any conflict between this First Amendment and any provisions of the Agreement, this First Amendment shall control with respect to the subject matter hereof. 

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

 IN WITNESS WHEREOF, the parties by their duly authorized representatives have executed this First Amendment
as of the First Amendment Effective Date. 
  

									
	YAHOO! INC.	  		  	MICROSOFT CORPORATION
					
	By:	 	        /s/ Mike Gupta
	  		  	By:	 	      /s/ Greg
Nelson

									
	Name:	 	   Mike Gupta
	  		  	Name:	 	 Greg Nelson

									
	Title:	 	     SVP Finance
	  		  	Title: 	 	 General Manager Search Alliance

  
 2 

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

 EXHIBIT K 
 ADDITIONAL PERMITTED USES FOR COVERED DATA 
  

	A.	Pooled Use of Covered Data for [*] 

Purpose: Provide Customers with quality traffic by [*] in connection with the Services across the Microsoft Network that are associated with Covered Data.
The model described below will be used by Microsoft to [*]. 
 Microsoft’s [*] process for Paid Search Services, Contextual Advertising
Services and Mobile Paid Search Services works as follows: 
  

			
	-	  	[*].
		
	-	  	[*].
		
	-	  	[*].
		
	-	  	[*].
		
	-	  	[*].

  

	B.	Pooled Use of Covered Data for [*] of Ads 

 Purpose: Use Covered Data across the Microsoft Network in connection with the Paid Search Services, Contextual Advertising Services and Mobile Paid Search Services for accurate measurement of [*]
accordingly in order to [*] to members of the Microsoft Network. This information is used to [*] to provide best experience for Customer and members of the Microsoft Network. 
 Microsoft’s “[*]” process works as follows: 
  

			
	-	  	[*].
		
	-	  	[*].
		
	-	  	[*].
		
	-	  	[*].
		
	-	  	[*].

  

	C.	Pooled Use of Covered Data for [*] 

Purpose: To develop a [*] in connection with the Paid Search Services, Contextual Advertising Services and Mobile Paid Search Services across the
Microsoft Network [*]. 
 Microsoft’s [*] process works as follows: 

  
 3 

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

			
	—	  	[*].
		
	—	  	[*].
		
	—	  	[*].
		
	—	  	[*].

  
 4 

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

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