Item 1.02. Termination of a Material Definitive Agreement.
Services Agreement
Yahoo! Inc. ("Yahoo!") and Google Inc. ("Google") entered into a
non-exclusive Services Agreement, dated as of June 12, 2008 (the "Original
Services Agreement" and, as subsequently amended, the "Services Agreement"). In
connection with the Services Agreement, Yahoo! and Google voluntarily agreed to
delay implementation while the Antitrust Division of the United States
Department of Justice (the "DOJ") reviewed the Services Agreement. At the
conclusion of this review, the DOJ indicated that it intended to file a
complaint to seek to enjoin the implementation of the Services Agreement.
Following the DOJ's decision, Google delivered notice to Yahoo! that it was
terminating the Services Agreement effective November 5, 2008.
A description of the material terms of the Original Services Agreement was
included in Yahoo!'s Form 8-K filed with the Securities and Exchange Commission
(the "Commission") on June 12, 2008 and is incorporated herein by reference. The
Original Services Agreement was filed as Exhibit 10.19 (in redacted form) to
Yahoo!'s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30,
2008 filed with the Commission on August 8, 2008.