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Congratulations! Please accept our offer to
become part of EA’s rich game making history and
future.
I am pleased to
offer you a regular full-time position with Electronic Arts as
Senior Vice President, Human Resources commencing on
February 20, 2006 at a base salary of $29,166.67 per month [or
$350,000.00 annualized], minus applicable deductions. You will be
reporting to me, Larry Probst.
For your
information, I have enclosed several documents that will provide an
introduction to life at EA, including an overview of our benefits
programs and EA’s Global Code of Conduct. Other EA policies
and procedures are on EA’s intranet and will be reviewed with
you at orientation.
You will also
be eligible to participate in our discretionary bonus program. This
discretionary bonus is typically determined at the end of our
fiscal year (March) and is prorated for your months of employment.
You need to be employed by EA by January 14th of our Fiscal
Year to be eligible for a bonus in this fiscal year. Your
discretionary bonus target will be 60% of your salary. To receive
payment of your bonus you must be employed by Electronic Arts at
the time any bonuses are paid. In addition, EA reviews performance
and compensation levels annually, and it currently makes merit
adjustments in February of each year. To be eligible for a merit
increase at next February’s review, you must commence
employment by September 30th of the previous calendar
year.
I am
recommending to the Compensation Committee that you be granted two
Non-Qualified Options to purchase a total of 95,000 shares of
Electronic Arts common stock in accordance with our 2000 Equity
Incentive Plan. These options will be granted and priced on your
date of hire and will be subject to the terms and conditions of the
2000 Equity Incentive Plan and the written agreement governing your
stock options. They will vest in accordance with the following
vesting schedule: (1) the option to purchase 70,000 shares
will first vest and become exercisable as to 24% of the underlying
shares, 12
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