ELECTRONIC ARTS INC. (NASDAQ:EA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Adoption of EA Bonus Plan Addendum
to the EA Bonus Plan, the Bonus Formula Addendum for the fiscal year ending March 31, 2018 (the “Fiscal Year 2018 Addendum”) was approved by the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Electronic Arts Inc. (“EA” or the “Company”) on May 17, 2017 for all eligible employees of EA and its subsidiaries, other than the Chief Executive Officer (“CEO”) Andrew Wilson, and by the Board for the CEO on July 10, 2017. The terms of the Fiscal Year 2018 Addendum are substantially similar to the terms of the Bonus Formula Addendum for EA’s fiscal year ended March 31, 2017, which was filed on Form 8-K on June 28, 2016, except that the Fiscal Year 2018 Addendum contains a provision that the CEO’s bonus award payout may not exceed the lesser of 300% of his target bonus or $5 million. Although the Company generally expects to pay bonuses to our named executive officers to the terms of the Electronic Arts Inc. Executive Bonus Plan (the “Executive Bonus Plan”), the Committee and the Board uses the criteria described in the Fiscal Year 2018 Addendum as a guideline to determine the final amount of the bonus awards paid to the named executive officers under the Executive Bonus Plan or to award discretionary bonus payments to the named executive officers in accordance with the terms of the EA Bonus Plan.
A copy of the Fiscal Year 2018 Addendum is filed as Exhibit 10.1 hereto and is incorporated by reference herein.
Item 5.02Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit No. |
Description |
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10.1 |
EA Bonus Plan Fiscal Year 2018 Addendum* |
*Management contract or compensatory plan or arrangement.
ELECTRONIC ARTS INC. ExhibitEX-10.1 2 fy18bonusplanaddendum.htm EA BONUS PLAN FISCAL YEAR 2018 ADDENDUM Exhibit EXHIBIT 10.1EA Bonus PlanAddendumFY18 Bonus FormulaSubject to all other terms and conditions of the EA Bonus Plan (“Plan”)*,…To view the full exhibit click here
About ELECTRONIC ARTS INC. (NASDAQ:EA)
Electronic Arts Inc. develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed. The Company markets and sells its games and services through retail channels and through digital distribution channels. The Company’s PC games and additional content can be downloaded directly through its Origin online platform, as well as through third-party online download stores. Its mobile, tablet and PC free-to-download games and additional content are available through third-party application storefronts, such as the Apple Application Store and Google Play.
