Activision Blizzard (ATVI)

Payment of Purchase Price; Changes in Payroll Deductions; Issuance of Shares

a.

The purchase price of the shares is accumulated by regular payroll deductions made during each Accumulation Period. In the case of the International Purchase Plan, if the laws of the applicable jurisdiction in which a Foreign Subsidiary is located do not allow payroll deductions, the purchase price of the shares may be accumulated by "Alternative Payments" such as the delivery of a certified or bank check drawn on immediately available funds (or such other form of payment acceptable to the Foreign Subsidiary in its sole and absolute discretion) at such times and in such manner acceptable to the Company. Payroll deductions, if applicable, are made as a percentage of the employee's compensation in one percentage point (1%) increments of not less than two percent (2%) nor greater than fifteen percent (15%).



b.

On each Purchase Date, as long as the relevant Employee Purchase Plan remains in effect, the Company shall apply the funds then in the participant's account containing his or her payroll deductions or Alternative Payments (a "Plan Account") to the purchase of whole shares of common stock reserved under the option granted to such participant with respect to the Offering Period. Any cash remaining in a participant's Plan Account after such purchase of shares shall be refunded to such participant in cash; except that any amount remaining in a participant's Plan Account on a Purchase Date solely because it is less than the amount necessary to purchase a full share of common stock shall be carried forward, without interest, into the next Accumulation Period. In the event that any Employee Purchase Plan has been oversubscribed, all funds not used to purchase shares on the Purchase Date shall be returned, without interest, to the participant. No common stock shall be purchased on a Purchase Date on behalf of any employee whose participation in the Employee Purchase Plan has terminated prior to such Purchase Date.



c.

If the amendments to the Employee Purchase Plans are approved by the Stockholders, the aggregate number of shares of common stock available for purchase under the Domestic Purchase Plan and the International Purchase Plan shall be 2,700,000 and 300,000, respectively, subject, in each case, to anti-dilution adjustments. In the event the amendments to the Employee Purchase Plans are not approved, the number of shares of common stock available for purchase under the Domestic Purchase Plan shall remain at 1,500,000 shares (subject to anti-dilution adjustments) and the number of shares of common stock available for purchase under the International Purchase Plan on any given date shall remain equal to (i) 1,500,000 (which number is subject to anti-dilution adjustments) less (ii) the cumulative number of shares purchased under the Company's Domestic Purchase Plan through such date.

48