Yahoo CEO Bartz to receive $1 million salary

From CNET Yahoo is providing its new CEO, Carol Bartz, with a $1 million base salary, as part of a lucrative $19 million compensation package for the former Autodesk executive, according to a filing Thursday with the Securities and Exchange Commission.

Under the four-year employment contract, Bartz, 60, will also receive an annual equity grant valued at approximately $8 million in February, the filing stated. This grant will be doled out at the same time other Yahoo executives receive their annual equity grants.

And like most executives who leave behind unvested stock options to take a new job, Bartz will also be compensated for forfeiting her stock grants and post-employment medical coverage that she left behind at Autodesk. That compensation will come in the form of $10 million, with a quarter of it paid in cash and the remainder in Yahoo restricted stock that will vest through 2009.

In addition to her $19 million compensation package, Bartz will also be eligible for an annual bonus of up to $4 million above her base salary, if she hits certain targets, according to the filing.

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