Activision CEO Set for $15M 'Golden Parachute' in Microsoft Deal

There are big potential payouts ahead for controversial Activision Blizzard CEO Bobby Kotick, according to an extensive SEC filing about Microsoft's planned $69 billion acquisition of the company. From a report: Microsoft and Activision propose that Kotick could receive as much as $22 million in stock in July or later, if Activision's board sees improvement in company culture. Measured improvements would include the implementation of a zero-tolerance harassment plan and an increase in hiring women and non-binary people. Kotick took a pay cut in October in response to the company's scandals and said he was forgoing bonuses until the board saw improvement.

The filing also indicates that the board may extend Kotick's contract by 12 months beyond its current March 2023 expiration. Kotick has not been expected to remain at the company long after the merger, a source told Axios' Ina Fried earlier this year. Should Kotick be fired without cause by Microsoft, he'll get a $15 million 'golden parachute,' according to the filing's compensation proposal. The filing reveals that Microsoft gaming executive Phil Spencer began talks with Kotick about a potential acquisition on Nov. 19, three days after a Wall Street Journal expose that said Kotick knew of sexual misconduct at the company for years.

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