Yahoo! lines up severance packages

Yahoo!, owner of the most-visited US Web site, adopted severance plans for employees that would pay nearly two years of salary to fend off a $44.6 billion bid from Microsoft.

Full-time employees would get at least 4 months severance pay and executive officers will get 24 months, California-based Yahoo! said.

Employees will be eligible for the payments if they are fired or leave for "good reason" within two years of a purchase, Yahoo! said.

Yahoo!'s board, after rejecting Microsoft's offer last week, may be taking steps to make a purchase by the world's largest software maker more expensive.

Yahoo plans also entitle departing employees to health insurance, accelerated vesting of options and job-search assistance.