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 feature Expedia poised to take flight with generative AI CTO Rathi Murthy sees the online travel service’s vast troves of data and AI expertise fueling a two-pronged transformation strategy aimed at growing the company by bringing more of the travel industry online. By Paula Rooney Jun 02, 2023 7 mins Travel and Hospitality Industry Digital Transformation Artificial Intelligence case study Deoleo doubles down on sustainability through digital transformation The Spanish multinational olive oil processing company is immersed in a digital transformation journey to achieve operational efficiency and contribute to the company's sustainability strategy. By Nuria Cordon Jun 02, 2023 6 mins CIO Supply Chain Digital Transformation brandpost Resilient data backup and recovery is critical to enterprise success As global data volumes rise, business must prioritize their resiliency strategies. By Neal Weinberg Jun 01, 2023 4 mins Security brandpost Democratizing HPC with multicloud to accelerate engineering innovations Cloud for HPC is facilitating broader access to high performance computing and accelerating innovations and opportunities for all types of organizations. By Tanya O'Hara Jun 01, 2023 6 mins Multi Cloud 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