Yahoo 2007 Annual Report Download - page 107
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charges of $20 million to $25 million for severance pay expenses and related cash expenditures associated with the
workforce reductions. Total charges will include these cash charges plus additional charges related to stock
compensation expense which the Company is unable to estimate at this time. The Company expects to recognize
the majority of the foregoing charges in the first quarter of 2008, with the remaining costs being recognized over the
remainder of 2008.
Change in Control Severance Plans. On February 12, 2008, the Compensation Committee of the Board of
Directors of the Company approved two change in control severance plans (the “Severance Plans”) that, together,
cover all full time employees of the Company, including the Company’s Chief Executive Officer, Chief Financial
Officer and the executive officers currently employed by the Company. The Severance Plans are designed to help
retain the employees, help maintain a stable work environment and provide certain economic benefits to the
employees in the event their employment is terminated. These benefits generally include (1) continuation of the
employee’s annual base salary, as severance pay for a designated number of months following the employee’s
severance date; (2) reimbursement for outplacement services; (3) continued medical group health and dental plan
coverage for the period the employee receives severance pay; and (4) accelerated vesting of all stock options,
restricted stock units and any other equity-based awards previously granted or assumed by the Company and
outstanding as of the severance date.
105
Yahoo! Inc.
Notes to Consolidated Financial Statements — (Continued)