|
|
 | | | |
- close
- close
- close
- close
| |||||||||
This excerpt taken from the ATVI 8-K filed Jul 15, 2008. Transaction Payments
On July 9, 2008, certain of Activision’s key managers received a bonus for his or her extraordinary contributions to the Transactions. The compensation committee determined that such bonuses were necessary to reward these individuals for the increased workload each of them undertook in connection with the Transactions and to provide an incentive to each to remain focused on their responsibilities in connection with the integration process following completion of the Transactions. Individuals received a bonus relative to their involvement and additional
6
responsibilities in connection with the Transactions. These bonuses, which represented from 75% to 150% of the annual bonus targets for each individual for the 2008 fiscal year, were as follows:
As previously disclosed, Messrs. Kotick and Kelly entered into replacement bonus agreements on December 1, 2007, pursuant to which, each of Messrs. Kotick and Kelly received a bonus of $5,000,000 upon the completion of the Transactions. Additionally, pursuant to the terms of the Business Combination Agreement, upon the closing of the Transactions, Mr. Morhaime received a payment of $3,681,982.49 in satisfaction of his equity awards outstanding under the Blizzard 2006 Equity Incentive Plan.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||
