Activision Blizzard (ATVI)

Performance Termination.  At any time during the Employment Period, Employer may terminate your employment under this Agreement by reason of your failure to perform the

 

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Performance Termination.  At any time during the Employment Period, Employer may terminate your employment under this Agreement by reason of your failure to perform the functions of your position at the level appropriate for Employer, provided that you shall have been given written notice of such performance deficiencies and shall have failed to cure such performance deficiencies within 12 months following such notice. In the event your employment under this Agreement is terminated by Employer pursuant to this Paragraph 9(e), then you shall receive: (i) Base Salary through date of termination; (ii) any unpaid Annual Bonus for any prior fiscal year, (iii) the pro rata portion of the Annual Bonus for the fiscal year in which your termination occurs to the extent such Annual Bonus is earned; (iv) reimbursement of expenses due you pursuant to Paragraphs 2(h) and 5; and (v) 50% of the Base Salary payable to you from the date of termination through the Expiration Date had your employment not been terminated, such Base Salary to be determined in accordance with the terms of Paragraph 2(a) of this Agreement and to be paid on a salary continuation basis as and when normally paid by Employer; and (vi) 100% of the Annual Bonus amount payable to you during the period following the date of termination through the Expiration Date had your employment not been terminated, which Annual Bonus shall be equal to the product of your Base Salary that would have been in effect for such fiscal year and a fraction, the numerator of which is the total of the Annual Bonus paid to you in the two fiscal years prior to termination, and the denominator of which is the Base Salary that was paid to you in the two fiscal years prior to termination, such Annual Bonus to be paid as and when normally paid by Employer; provided that the total of severance payments following a termination pursuant to this Paragraph 9(e)
shall not be more than the Pro-Rata Guarantee Amount. The Pro Rata Guarantee Amount shall be (i) $4,000,000 if your employment is terminated before the second anniversary of the effective Date, (ii) $8,000,000 if your employment is terminated after the second anniversary of the Effective date and before the third anniversary of the Effective Date, (iii) $12,000,000 if your employment is terminated after the third anniversary of the Effective Date and before the fourth anniversary of the Effective Date, (iv) $16,000,000 if your employment is terminated after the fourth anniversary of the Effective Date and before the fifth anniversary of the Effective Date, and (v) $20,000,000 if your employment is terminated after the fifth anniversary of the Effective Date.