Yahoo CEO Terry Semel to be paid $1 salary

Yahoo Chief Executive Terry Semel, was the highest-paid executive in the San Francisco Bay Area in 2004 and 2005. Semel’s salary and bonus were $600,000 last year, and total compensation, including restricted stock and the estimated value of options, was $56.8 million, down from $131.2 million the year before.

Following the move by other tech executives, including Apple Computer CEO Steve Jobs, Google Chief Executive Eric Schmidt, and co-founders Sergey Brin and Larry Page, Terry Semel has agreed to receive an annual salary of $1 through 2008.

I don’t mind getting paid $1 annually when I can made millions selling and buying company’s stock.

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