Earlier today, Yahoo filed several documents with the SEC, including an employment offer letter sent in October 2014 to Lisa Utzchneider, the company’s current chief revenue officer.
For anyone who’s ever wondered what a $16 million job offer looks like, here’s what Utzschneider was offered to join Yahoo, according to Business Insider:
- A $1 million sign-on bonus, made payable on or before her third semimonthly paycheck.
- A base salary of $50,000 a month ($600,000 annually).
- A recommended restricted stock-unit grant with a total target valuation of $16 million. Half of the restricted stock units were subject to a four-year time-based vesting schedule — with a quarter paid on the 12-month anniversary of her start date, then 1/48 thereafter. The other half would vest based on the four-year schedule and “satisfaction of performance criteria” approved by the committee.
- Yahoo’s bonus incentive plan, with a target incentive of 90% of her annual salary. This was pro-rated based on the period of time she was employed at Yahoo.
- 20 days of vacation in her first year of employment.
- In the event of Utzschneider’s voluntary resignation within the first year following her start date, she would have to repay an amount equal to $83,333 multiplied by 12 minus the number of months of employment she had completed.
Check out the full letter below