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May. 30, 2007 at 5:02pm Eastern by Barry Schwartz
Yahoo's CTO, Farzad Nazem, Resigns
Yahoo! Tech Chief Checks Out from The Street reports that Yahoo's Chief Technical Officer, Farzad Nazem is leaving Yahoo by June 8th.
In a SEC filing posted today, a separation agreement declared Mr. Nazem will be receive a "lump-sum payment as of the Separation Date equal to" Nazem's base salary. In addition, his outstanding stock options will continue to vest and shall remain exercisable as per the previous terms. Namez cannot work for Google and Microsoft (those were named specifically) for a three year period.
Postscript: Nazem explains his retirement with, Eleven years, 12,000 Yahoos, and one great ride at the Yahoo Yodel blog.
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By Barry Schwartz
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A three year period seems a little long and I would imagine, unenforceable beyond 1 year.
Good luck wherever you land Mr. Nazem