Zelnick stalling Take-Two takeover for a $2.5 million bonus?


	Zelnick stalling Take-Two takeover for a $2.5 million bonus?

Mary Jane Irwin

4-17-2008 2:21 PM

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/b32166f9-25fd-4b4a-a174-64d0c7d90e13/2C0252AC-E76D-466F-AE8E-29ED40007CE6/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://kotaku.com/380119/ea-versus-take+two-how-the-takeover-works" href="http://kotaku.com/380119/ea-versus-take+two-how-the-takeover-works" style="font-size: 11px;">kotaku.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://kotaku.com/380119/ea-versus-take+two-how-the-takeover-works"><P>Take-Two's SEC filings reveal something interesting. On February 14th, the company management <A href="http://www.secinfo.com/d12TC3.t9m4.htm#1stPage">effectively <I>tripled</I></A> the management fee that Strauss Zelnick's ZelnickMedia receives from $62,500 to $208,333 — that's per <I>month</I>. Zelnick's management company is also getting a bumped up annual bonus: from $750,000 to $2,500,000 per year. The real big deal here, though, is the 600,000 shares of common stock that the management also gets as part of the same compensation boost.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://kotaku.com/380119/ea-versus-take+two-how-the-takeover-works"><P>Executives often get large stock packages that are supposed to help motivate them to raise the value of the company's stock through their management decisions. But if ZelnickMedia loses control of the company, there's no point in him having such a package. And the filing on the compensation boost makes it plain: In the event of a "change of control" — in other words, if EA's bid succeeds — ZelnickMedia won't get those shares.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/2C0252AC-E76D-466F-AE8E-29ED40007CE6/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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