Yahoo! chief Bartz to get $19 mn this year

The newly-appointed Yahoo! chief executive Carl Bartz will get a compensation of $19 million this year.
    
The 60 year-old technology veteran has replaced the internet major's founder and chief executive Jerry Yang.
    
Bartz would get a base salary of $1 million and a grant of $10 million in cash and stock to compensate the benefits forfeited from the previous employer.
    
Further, she would be paid an annual grant worth $8 million. Bartz was appointed chief executive by the Yahoo! board on  January 13.
    
In a regulatory filing to the Securities and Exchange Commission on Thursday, Yahoo! said Bartz would receive stock options for 5 million shares and the price would be decided on January 30.
    
To compensate Bartz for the forfeiture of the value of equity grants and post-employment medical coverage from her previous employer Autodesk, she would be provided an "equity grant with a grant-date value of $10 million, payable 25% in cash and 75% in restricted stock," the filing noted.
    
Yahoo! would also provide post employment medical coverage under its plans to Bartz, her spouse and eligible dependants as necessary, with Bartz paying the full premiums, it added.
    
She would be receive an "annual grant for 2009 with a value of approximately $8 million which is expected to be granted in February 2009."
   
Also, Bartz's salary would be subject to annual review for increases and would be eligible to receive an annual bonus, it said.