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Take Two Interactive Software Inc – ‘10-K’ for 3/31/16 – ‘EX-10.50’

On:  Wednesday, 5/18/16, at 6:19pm ET   ·   As of:  5/19/16   ·   For:  3/31/16   ·   Accession #:  1047469-16-13278   ·   File #:  1-34003

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/19/16  Take Two Interactive Software Inc 10-K        3/31/16  112:14M                                    Toppan Merrill-FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.38M 
 2: EX-10.45    Material Contract                                   HTML    127K 
 3: EX-10.47    Material Contract                                   HTML     68K 
 4: EX-10.48    Material Contract                                   HTML     91K 
 5: EX-10.49    Material Contract                                   HTML    129K 
 6: EX-10.50    Material Contract                                   HTML     45K 
 7: EX-21.1     Subsidiaries List                                   HTML     48K 
 8: EX-23.1     Consent of Experts or Counsel                       HTML     31K 
 9: EX-31.1     Certification -- §302 - SOA'02                      HTML     35K 
10: EX-31.2     Certification -- §302 - SOA'02                      HTML     35K 
11: EX-32.1     Certification -- §906 - SOA'02                      HTML     32K 
12: EX-32.2     Certification -- §906 - SOA'02                      HTML     32K 
19: R1          Document and Entity Information                     HTML     57K 
20: R2          Consolidated Balance Sheets                         HTML    121K 
21: R3          Consolidated Balance Sheets (Parenthetical)         HTML     54K 
22: R4          Consolidated Statements of Operations               HTML    100K 
23: R5          Consolidated Statements of Comprehensive (Loss)     HTML     65K 
                Income                                                           
24: R6          Consolidated Statements of Cash Flows               HTML    156K 
25: R7          Consolidated Statements of Stockholders' Equity     HTML    117K 
26: R8          Consolidated Statements of Stockholders' Equity     HTML     33K 
                (Parenthetical)                                                  
27: R9          Basis of Presentation and Significant Accounting    HTML    107K 
                Policies                                                         
28: R10         Management Agreement                                HTML     34K 
29: R11         Fair Value Measurements                             HTML    120K 
30: R12         Short-Term Investments                              HTML    131K 
31: R13         Derivative Instruments and Hedging Activities       HTML     49K 
32: R14         Inventory                                           HTML     50K 
33: R15         Software Development Costs and Licenses             HTML     90K 
34: R16         Fixed Assets, Net                                   HTML     62K 
35: R17         Goodwill and Intangible Assets, Net                 HTML     99K 
36: R18         Accrued Expenses and Other Current Liabilities      HTML     56K 
37: R19         Long-Term Debt                                      HTML    162K 
38: R20         (Loss) Earnings Per Share ("Eps")                   HTML    140K 
39: R21         Commitments and Contingencies                       HTML    104K 
40: R22         Income Taxes                                        HTML    251K 
41: R23         Stock-Based Compensation                            HTML    159K 
42: R24         Share Repurchase Program                            HTML     33K 
43: R25         Segment and Geographic Information                  HTML    166K 
44: R26         Interest and Other, Net                             HTML     56K 
45: R27         Accumulated Other Comprehensive (Loss) Income       HTML     79K 
46: R28         Business Reorganization                             HTML     34K 
47: R29         Supplementary Financial Information                 HTML    179K 
48: R30         Quarterly Financial Information (Unaudited)         HTML     85K 
49: R31         Basis of Presentation and Significant Accounting    HTML    187K 
                Policies (Policies)                                              
50: R32         Basis of Presentation and Significant Accounting    HTML     46K 
                Policies (Tables)                                                
51: R33         Fair Value Measurements (Tables)                    HTML    111K 
52: R34         Short-Term Investments (Tables)                     HTML    131K 
53: R35         Derivative Instruments and Hedging Activities       HTML     43K 
                (Tables)                                                         
54: R36         Inventory (Tables)                                  HTML     48K 
55: R37         Software Development Costs and Licenses (Tables)    HTML     91K 
56: R38         Fixed Assets, Net (Tables)                          HTML     60K 
57: R39         Goodwill and Intangible Assets, Net (Tables)        HTML    103K 
58: R40         Accrued Expenses and Other Current Liabilities      HTML     55K 
                (Tables)                                                         
59: R41         Long-Term Debt (Tables)                             HTML    145K 
60: R42         (Loss) Earnings Per Share ("Eps") (Tables)          HTML    137K 
61: R43         Commitments and Contingencies (Tables)              HTML     95K 
62: R44         Income Taxes (Tables)                               HTML    253K 
63: R45         Stock-Based Compensation (Tables)                   HTML    152K 
64: R46         Segment and Geographic Information (Tables)         HTML    166K 
65: R47         Interest and Other, Net (Tables)                    HTML     55K 
66: R48         Accumulated Other Comprehensive (Loss) Income       HTML     76K 
                (Tables)                                                         
67: R49         Supplementary Financial Information (Tables)        HTML    178K 
68: R50         Quarterly Financial Information (Unaudited)         HTML     83K 
                (Tables)                                                         
69: R51         Basis of Presentation and Significant Accounting    HTML     34K 
                Policies - Wholly Owned Labels (Details)                         
70: R52         Basis of Presentation and Significant Accounting    HTML     60K 
                Policies - Concentration Risk (Details)                          
71: R53         Basis of Presentation and Significant Accounting    HTML     45K 
                Policies - Fixed Assets (Details)                                
72: R54         Basis of Presentation and Significant Accounting    HTML     59K 
                Policies - Revenue Recognition (Details)                         
73: R55         Basis of Presentation and Significant Accounting    HTML     32K 
                Policies - Intangible Assets and Advertising                     
                (Details)                                                        
74: R56         Basis of Presentation and Significant Accounting    HTML     35K 
                Policies - Recently Issued Accounting                            
                Pronouncements (Details)                                         
75: R57         Basis of Presentation and Significant Accounting    HTML     42K 
                Policies - Debt Issue Cost (Details)                             
76: R58         Management Agreement (Details)                      HTML     46K 
77: R59         Fair Value Measurements - Assets Measured at Fair   HTML     64K 
                Value (Details)                                                  
78: R60         Fair Value Measurements - Debt (Details)            HTML     39K 
79: R61         Short-Term Investments (Details)                    HTML     65K 
80: R62         Derivative Instruments and Hedging Activities       HTML     36K 
                (Details)                                                        
81: R63         Inventory (Details)                                 HTML     39K 
82: R64         Software Development Costs and Licenses (Details)   HTML     55K 
83: R65         Fixed Assets, Net (Details)                         HTML     52K 
84: R66         Goodwill and Intangible Assets, Net (Details)       HTML     65K 
85: R67         Accrued Expenses and Other Current Liabilities      HTML     48K 
                (Details)                                                        
86: R68         Long-Term Debt - Credit Agreement (Details)         HTML     81K 
87: R69         Long Term Debt - Convertible Notes (Details)        HTML    173K 
88: R70         (Loss) Earnings Per Share ("Eps") (Details)         HTML     84K 
89: R71         Commitments and Contingencies - Annual Minimum      HTML    115K 
                Obligations (Details)                                            
90: R72         Commitments and Contingencies - Contingent          HTML     32K 
                Consideration (Details)                                          
91: R73         Commitments and Contingencies - Savings Plans and   HTML     37K 
                Income Taxes (Details)                                           
92: R74         Income Taxes - Current Income Tax (Details)         HTML    107K 
93: R75         Income Taxes - Deferred Taxes (Details)             HTML     88K 
94: R76         Income Taxes - Loss Carryforwards (Details)         HTML     58K 
95: R77         Income Taxes - Uncertain Tax Positions (Details)    HTML     49K 
96: R78         Stock-Based Compensation - 2009 Plan (Details)      HTML     35K 
97: R79         Stock-Based Compensation - Stock-Based              HTML     45K 
                Compensation Expense (Details)                                   
98: R80         Stock-Based Compensation - Management Agreement     HTML     46K 
                (Details)                                                        
99: R81         Stock-Based Compensation - Restricted Stock         HTML    141K 
                (Details)                                                        
100: R82         Share Repurchase Program (Details)                  HTML     49K  
101: R83         Segment and Geographic Information - Revenue and    HTML     58K  
                Operating Income Reconciliation (Details)                        
102: R84         SEGMENT AND GEOGRAPHIC INFORMATION - REVENUE BY     HTML     47K  
                GEOGRAPHIC REGION (Detail)s                                      
103: R85         Segment and Geographic Information - Revenue by     HTML     41K  
                Product Platform (Details)                                       
104: R86         Segment and Geographic Information - Revenue by     HTML     41K  
                Distribution Channel (Details)                                   
105: R87         Interest and Other, Net (Details)                   HTML     39K  
106: R88         Accumulated Other Comprehensive (Loss) Income       HTML     49K  
                (Details)                                                        
107: R89         Business Reorganization (Details)                   HTML     37K  
108: R90         Supplementary Financial Information (Details)       HTML     58K  
109: R91         Quarterly Financial Information (Unaudited)         HTML     54K  
                (Details)                                                        
111: XML         IDEA XML File -- Filing Summary                      XML    197K  
110: EXCEL       IDEA Workbook of Financial Reports                  XLSX    123K  
13: EX-101.INS  XBRL Instance -- ttwo-20160331                       XML   4.48M 
15: EX-101.CAL  XBRL Calculations -- ttwo-20160331_cal               XML    314K 
18: EX-101.DEF  XBRL Definitions -- ttwo-20160331_def                XML    754K 
16: EX-101.LAB  XBRL Labels -- ttwo-20160331_lab                     XML   1.96M 
17: EX-101.PRE  XBRL Presentations -- ttwo-20160331_pre              XML   1.29M 
14: EX-101.SCH  XBRL Schema -- ttwo-20160331                         XSD    249K 
112: ZIP         XBRL Zipped Folder -- 0001047469-16-013278-xbrl      Zip    274K  


‘EX-10.50’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]




Exhibit 10.50

 

TAKE-TWO INTERACTIVE SOFTWARE, INC.
AMENDMENT TO
RESTRICTED UNIT AGREEMENT

 

This Amendment (this “Amendment”) to the Restricted Unit Agreement, dated as of April 1, 2014 (the “Agreement”), by and between Take-Two Interactive Software, Inc. (the “Company”) and ZelnickMedia Corporation (the “Participant”), is made effective as of March 31, 2016.

 

WHEREAS, the Company and the Participant are parties to the Agreement; and

 

WHEREAS, the Company and the Participant now desire to amend the Agreement in order to amend the vesting dates applicable to certain Restricted Units granted pursuant to the Agreement.

 

NOW, THEREFORE, in consideration of the covenants and agreements herein contained, the parties hereto hereby agree as follows:

 

1.                                      Capitalized Terms.  Capitalized terms that are not defined in this Amendment shall have the meanings ascribed thereto in the Agreement.

 

2.                                      Amendment to the Agreement.  The Agreement is hereby amended as follows:

 

(a)         Section A of Annex A to the Agreement shall be amended in its entirety to read as follows:  “Subject to Section C, 178,654 of the Restricted Units shall become vested on May 20, 2016.

 

(b)         The second sentence of Section B(i) of Annex A to the Agreement shall be amended in its entirety to read as follows: “Subject to Section C, on the second (2nd) anniversary of the Grant Date, a number of TSR Performance-Based Units shall become earned equal to the product of (x) the target number of TSR Performance-Based Units eligible to vest pursuant to this Section B(i) multiplied by (y) the TSR Vesting Percentage, rounded down to the nearest whole TSR Performance-Based Unit, which earned TSR Performance-Based Units shall vest on May 20, 2016.

 

(c)          The second sentence of Section B(ii) of Annex A to the Agreement shall be amended in its entirety to read as follows:  “Subject to Section C, on the second (2nd) anniversary of the Grant Date, a number of New IP Performance-Based Units shall become earned equal to the product of (x) the target number of New IP Performance-Based Units eligible to vest pursuant to this Section B(i) multiplied by (y) the New IP Vesting Percentage, rounded down to the nearest whole New IP Performance-Based Unit, which earned New IP Performance-Based Units shall vest on May 20, 2016.

 

(d)         The second sentence of Section B(iii) of Annex A to the Agreement shall be amended in its entirety to read as follows:  “Subject to Section C, on the

 



 

second (2nd) anniversary of the Grant Date, a number of Major IP Performance-Based Units shall become earned equal to the product of (x) the target number of Major IP Performance-Based Units eligible to vest pursuant to this Section B(i) multiplied by (y) the Major IP Vesting Percentage, rounded down to the nearest whole Major IP Performance-Based Unit, which earned Major IP Performance-Based Units shall vest on May 20, 2016”.

 

(e)          Section C of Annex A to the Agreement shall be amended by replacing the references therein to “the second (2nd) anniversary of the Grant Date” with May 20, 2016.

 

(f)           Notwithstanding the foregoing amendments or anything to the contrary in the Agreement, and for the avoidance of doubt: (i) April 1, 2016, shall be the date used to calculate the Applicable Vesting Percentage to determine the number of Performance-Based Units earned pursuant to Sections B(i), B(ii) and B(iii) of Annex A to the Agreement, as applicable; (ii) the number of Performance-Based Units that shall vest in the event of a Qualifying Termination or a Change in Control pursuant to Sections C(i) and C(ii) of Annex A to the Agreement, respectively, shall be the actual number of Performance-Based Units earned pursuant to Sections B(i), B(ii) and B(iii) of Annex A to the Agreement, as applicable, to be calculated based on performance through April 1, 2016; and (iii) notwithstanding anything in Section D(ii) of Annex A to the Agreement to the contrary, any Performance-Based Units that are not earned pursuant to Sections B(i), B(ii) and B(iii) of Annex A to the Agreement, as applicable, based on performance through April 1, 2016, shall automatically be forfeited and shall revert back to the Company without compensation to the Participant.

 

3.                                      Ratification and Confirmation.  Except as specifically amended hereby, the Agreement is hereby ratified and confirmed in all respects and remains in full force and effect, it being the intention of the parties hereto that this Amendment and the Agreement be read, construed and interpreted as one and the same instrument.  In the event of any conflict between the terms of this Amendment and the terms of the Agreement, the terms of this Amendment shall control.

 

4.                                      Affirmations of the Participant.  By the Participant’s signature below, the Participant represents to and agrees with the Company that the Participant hereby accepts this Amendment subject to all of the terms and provisions hereof. The Participant has reviewed this Amendment in its entirety, has had an opportunity to obtain the advice of counsel prior to executing this Amendment and fully understands all of the provisions of this Amendment.

 

5.                                      Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws.

 

2



 

6.                                      Headings.  Section headings are for convenience only and shall not be considered a part of this Amendment.

 

7.                                      Counterparts.  This Amendment may be executed in counterparts, each of which shall constitute an original, but all of which when taken together shall constitute a single contract.

 

*                                         *                                         *

 

3



 

IN WITNESS WHEREOF, the parties have executed this Amendment to the Agreement on March 30, 2016.

 

 

 

TAKE-TWO INTERACTIVE SOFTWARE, INC.

 

 

 

 

 

By:

/s/ Lainie Goldstein

 

Name:

Lainie Goldstein

 

Title:

Chief Financial Officer

 

 

 

 

 

ZELNICKMEDIA CORPORATION

 

 

 

 

 

By:

/s/ Karl Slatoff

 

Name:

Karl Slatoff

 

Title:

Partner

 

[Signature Page to Restricted Unit Agreement Amendment]

 




Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
5/20/164,  S-3ASR
Filed as of:5/19/16
Filed on:5/18/168-K
4/1/164
For Period end:3/31/164
3/30/16
4/1/144
 List all Filings 


4 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/17/22  Take-Two Interactive Software Inc 10-K        3/31/22  112:14M                                    Workiva Inc Wde… FA01/FA
 5/19/21  Take-Two Interactive Software Inc 10-K        3/31/21  110:13M                                    Workiva Inc Wde… FA01/FA
10/06/16  SEC                               UPLOAD10/13/17    1:102K Take-Two Interactive Software Inc
 9/08/16  SEC                               UPLOAD10/13/17    1:259K Take-Two Interactive Software Inc
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Filing Submission 0001047469-16-013278   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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