Yahoo Chairman and Chief Executive Officer (CEO) Terry Semel will receive just US$1 as salary, along with at least 6 million stock options to soften the blow. According to a Securities and Exchange Commission (SEC) document filed by Yahoo last Wednesday, Yahoo’s board approved a plan to pay Semel an annual salary of $1 for the remainder of 2006 through 2008. However, he will be eligible for an annual bonus of up to 1 million “fully vested non-qualified stock options,” according to the filing.A separate SEC document shows that Yahoo’s board also granted Semel 6 million stock options at a strike price of $31.59. Should Semel be fired or resign from Yahoo, the shares vest immediately, the filing said. Semel joins Apple Computer CEO Steve Jobs in avoiding high income taxes by taking compensation in the form of securities rather than cash salary. Jobs also receives only $1 per year from the computer maker. In 2003, Jobs was granted 10 million restricted Apple shares, now worth more than $500 million. Besides his menial salary and the share grant, he receives no other compensation from the Cupertino, Calif., company.-Steven Schwankert, IDG News Service For related news coverage, read Supreme Court Passes on Yahoo Nazi Case.Check out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content opinion Website spoofing: risks, threats, and mitigation strategies for CIOs In this article, we take a look at how CIOs can tackle website spoofing attacks and the best ways to prevent them. By Yash Mehta Dec 01, 2023 5 mins CIO Cyberattacks Security brandpost Sponsored by Catchpoint Systems Inc. Gain full visibility across the Internet Stack with IPM (Internet Performance Monitoring) Today’s IT systems have more points of failure than ever before. Internet Performance Monitoring provides visibility over external networks and services to mitigate outages. By Neal Weinberg Dec 01, 2023 3 mins IT Operations brandpost Sponsored by Zscaler How customers can save money during periods of economic uncertainty Now is the time to overcome the challenges of perimeter-based architectures and reduce costs with zero trust. By Zscaler Dec 01, 2023 4 mins Security feature LexisNexis rises to the generative AI challenge With generative AI, the legal information services giant faces its most formidable disruptor yet. That’s why CTO Jeff Reihl is embracing and enhancing the technology swiftly to keep in front of the competition. By Paula Rooney Dec 01, 2023 6 mins Generative AI Digital Transformation Cloud Computing Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe