Before arriving at a final sale price discount of $350 million for Yahoo, Verizon Communications had tried to cut the price by up to $925 million following the discovery of massive online hacking of the Internet company last year, according to a regulatory filing.

The document filed on Monday, March 13, also revealed that Verizon Communications Chief Executive Officer Lowell McAdam suggested an option to kill off the deal before the price tag was eventually.

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The deal, which was first announced July last year at a purchase price of $4.83 billion, has been delayed as the two companies evaluate the fallout from two data breaches uncovered in Yahoo.  Reports indicate that Verizon was pushing Yahoo to amend the terms of the agreement following news about the attacks.

Early in February, the filing said that McAdam and Yahoo board member Thomas McInerney met in Verizon's offices in New York City to discuss a revised deal where the U.S. no.1 carrier sought a $925 million discount. McInerney declined the offer.

It remains unclear, however, why Verizon agreed to a purchase price of $4.48 billion. The final deal was approved on February 20.

The regulatory filing also said that Yahoo would give its Chief Executive Officer (CEO) Marissa Mayer a severance package of $23 million should she be terminated.

Mayer, who announced she would give up her bonus following the attacks, would get around $3 million in cash and the rest in the form of stocks and benefits.

As part of the deal, Yahoo's Internet business will be sold to Verizon. Its shares in Asian assets will remain in a new company to be formed called Althaba and will be publicly traded on Nasdaq.

The filing also said that the new entity would have McInerny as its CEO, but a new role for Mayer was not indicated.