Form of Acceleration and Clawback AgreementAcceleration and Clawback Agreement • December 21st, 2022 • Activision Blizzard, Inc. • Services-prepackaged software
As you are aware, on January 18, 2022, Activision Blizzard, Inc., a Delaware Corporation (the “Company”) entered into an Agreement and Plan of Merger (“Merger Agreement”) with Microsoft Corporation, a Delaware corporation (“Microsoft Parent”), and Anchorage Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Microsoft Parent (“Microsoft Merger Sub”), providing for the merger of Microsoft Merger Sub with and into the Company (the “Merger”), whereupon the separate existence of Microsoft Merger Sub shall cease and the Company shall survive the Merger as a wholly owned subsidiary of Microsoft Parent.
ACTIVISION BLIZZARD, INC. Enhanced Severance Plan Established November 30, 2022Enhanced Severance Plan • December 21st, 2022 • Activision Blizzard, Inc. • Services-prepackaged software
This Activision Blizzard, Inc. Enhanced Severance Plan and Summary Plan Description, as it may be amended from time to time (the “Plan”) is established as of November 30, 2022. Activision Blizzard, Inc. entered into an Agreement and Plan of Merger by and among Microsoft Corporation, a Washington corporation (“Parent”), Anchorage Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Parent, and Activision Blizzard, Inc. (the “Merger Agreement”); and, pursuant to the terms of the Merger Agreement, including all exhibits and schedules thereto. The purpose of the Plan is to provide severance benefits to certain senior leaders of Activision Blizzard, Inc., a Delaware corporation, and any successors thereto (the “Company”) who incur a Qualifying Termination as described herein in connection with the transaction contemplated by the Merger Agreement (the “Merger”).
