Atari Inc – ‘10-K’ for 3/31/00 – EX-10.15

On:  Thursday, 6/29/00, at 5:28pm ET   ·   For:  3/31/00   ·   Accession #:  950123-0-6196   ·   File #:  0-27338

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Infogrames, Inc.                                      75    480K 
 2: EX-3.1      Amended and Restated Certificate of Incorporation      6     29K 
 3: EX-4.1      Specimen Form of Stock Certificate                     2     13K 
 4: EX-4.5      Amended & Restated Registration Rights Agreement      17     72K 
 5: EX-10.10A   Agreement and Release - Harry M. Rubin                 6     27K 
 6: EX-10.10B   Letter Agreement                                       2     15K 
 7: EX-10.12A   Agreement and Release - Jack J. Cayre                  5     26K 
 8: EX-10.13A   Separation Agreement - Thomas A. Heymann              20     84K 
 9: EX-10.14A   Separation Agreement - John T. Baker Iv               19     80K 
10: EX-10.15    Letter Agreement                                       2     12K 
11: EX-10.25    Trademark Agreement                                    9     33K 
12: EX-10.26G   Master Assignment and Acceptance                       7     27K 
13: EX-10.26H   Warrant Agreement                                     22     86K 
14: EX-10.26I   Warrant Certificate                                    5     22K 
15: EX-10.26J   Fourth Amendment                                       3     14K 
16: EX-10.26K   Reimbursement and Cash Collateral Agreement           17     56K 
17: EX-10.26L   Collateral Assignment Agreement                        7     26K 
18: EX-10.26M   Fifth Amendment                                        8     28K 
19: EX-10.26N   Sixth Amendment                                        5     21K 
20: EX-23.1     Consent of Arthur Andersen LLP                         1      8K 
21: EX-24.1     Power of Attorney                                      1     11K 
22: EX-27.1     Financial Data Schedule                                1      9K 

EX-10.15   —   Letter Agreement

EX-10.15
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                                                                   Exhibit 10.15

 GT INTERACTIVE SOFTWARE
LETTERHEAD

April 20, 2000                                                                  

Mr. David Fremed                                                                
849 Longview Avenue                                                             
North Woodmere, NY  11581                                                       

Dear David:                                                                     

      I am very pleased to offer you the position of Senior Vice
President, Finance and Chief Financial Officer with GT Interactive Software Corp
("GT"), reporting directly to the President and Chief Operating Officer.        

             The purpose of this letter is to confirm the terms and conditions
of our employment offer to you:                                                 

-             Your annual salary will be $275,000.00 paid to you in equal       
            installments. Currently our practice is to pay on a semi-monthly
basis.                                              

-             You will receive a one-time sign-on bonus of $20,000.00, less all 
            applicable local, state, and federal taxes. This will be paid to
              you after 30 days of continuous employment. Should you voluntarily
           terminate your employment at GT within one year of your date of
hire, you must repay the entire sign-on bonus.      

-             You will be eligible to participate in the company's Corporate    
            Incentive Program beginning in FY 2001 (commencing July 1, 2000)
             at a target amount equal to 40% of earned base salary through the
      end of the fiscal year; criteria is based upon company and
individual performance.                             

-             You will receive a stock option of 150,000 GT Interactive Software
            option shares. These stock option shares will be granted on your
           date of hire and priced at Fair Market Value (FMV) on that day.
       These options will vest 25% per year, over a 4 year period.

EX-10.15
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-             You will be eligible to participate in all of the company's       
standard benefit programs.                          

-             Should your employment be involuntarily terminated for reasons    
   other than cause within the first two (2) years of your
              employment, you will receive a severance benefit of six (6) months
     base salary, paid as salary continuation. To receive this
     severance benefit, you will be required to sign a release
              statement. All severance benefits are subject to local, state, and
federal taxes.                                      

              By signing this letter you confirm that you are not subject to any
agreement (with a prior employer or otherwise) which would be violated by or    
inconsistent with your employment at GT. During your employment with GT, you    
agree that you will not improperly use any confidential or proprietary          
information you may have concerning any third party, including any prior        
employer.                                                                       

         Please indicate your acceptance of this offer by signing this
letter where indicated and returning it to me.                                  

              David, we look forward to having you join GT as part of our senior
management team. If you have any questions regarding the details of this letter,
please do not hesitate to contact me.                                           

                                    Sincerely,

                                            /s/ Denis Guyennot

Accepted and agreed to:                                                         

By: /s/ David Fremed                                  4/21/00                   
------------------------                          --------------        
David Fremed                                  Date              

cc:  H. Glantz, B. Bonnell, Personnel File                                      

2 

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘10-K’ Filing		Date		First		Last			Other Filings
		7/1/00		1
Filed on:		6/29/00							10-Q/A,  DEF 14A
		4/20/00		1
For Period End:		3/31/00							10-K/A
									List all Filings