SUNNYVALE (dpa-AFX) - Yahoo! Inc. (YHOO) and Microsoft Corp. (MSFT) have entered into the Tenth Amendment effective as of March 23, 2015 to the Search and Advertising Services and Sales Agreement, dated as of December 4, 2009, by and between the Company and Microsoft.
As previously disclosed on February 27, 2015, Yahoo, in addition to other termination rights, had the right to terminate the Search Agreement, during the 30-day period following February 23, 2015, if the trailing 12-month average of the Company's revenue per search in the United States or the 'U.S. RPS' on Yahoo Properties is less than a specified percentage of Google's trailing 12-month estimated average U.S. RPS, excluding, in each case, mobile devices.
As per the Tenth Amendment, the companies mutually agreed to amend the Search Agreement to extend the 30-day period to be the 60-day period following February 23, 2015.
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