The Sunnyvale, Calif., Internet company said in a filing with the SEC that it also set Mr. Semel's annual salary at $1 for the 2006-2008 period. Semel had received a $600,000 salary for at least the past three years, according to Yahoo's most recent proxy.
In addition, he will be eligible for an annual bonus in the form of a fully vested stock option for up to one million shares, the company said.
And who said option based exec compenstaion was dead. And it seems to be making Semel a pile (as it probably should given his success with Yahoo!) - for he just forked out over $40M for five acres in Long Island. WOW - all that on a $1 salary!