Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously announced by Yahoo! Inc. (the "Company") on February 26, 2009, Blake Jorgensen, Chief Financial Officer of the Company, will be leaving the Company after a transition period, and the Company has initiated a search for a new Chief Financial Officer. On May 21, 2009, the Company entered into an agreement with Mr. Jorgensen (the "Separation Agreement") providing for his resignation as Chief Financial Officer, effective as of June 30, 2009 or such other date between July 1, 2009 and September 1, 2009 as mutually agreed to by the Company and Mr. Jorgensen (the "Separation Date").

Under the Separation Agreement and subject to certain terms and conditions set forth therein, the Company and Mr. Jorgensen have agreed to, among other items, the following:

• Mr. Jorgensen will continue to provide services, including transition services, until the Separation Date.

• The Company will pay Mr. Jorgensen a lump sum severance payment of $1.8 million (the "Severance Payment"). Mr. Jorgensen is also entitled to continued Company-paid medical coverage for up to twelve months following the Separation Date.

• Mr. Jorgensen's right to receive the Severance Payment is subject to his compliance with certain confidentiality, proprietary information and other covenants in favor of the Company. In addition, the Separation Agreement includes Mr. Jorgensen's general release of claims against the Company.

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