Sample Business Contracts

Employment Agreement [Amendment No. 4] - Take-Two Interactive Software Inc. and Ryan A. Brant

Employment Forms

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  • Commission Agreement. Employers who compensate their sales employees based on commissions can prepare an agreement to reduce misunderstandings by specifying the base salary and how commissions are calculated.
  • Executive Employment Agreement. Companies may offer their business executives a contract that is different from the one provided to their regular employees. Executive employment agreements may be more complex because the compensation structure may include a combination of salary and commissions, provide for bonuses based on sales, stock or other financial targets, and include non-compete, confidentiality and severance provisions.
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         Amendment No. 4 to Employment Agreement dated as of August 1, 2000 (the
"Agreement"), as amended, between Take-Two Interactive Software, Inc. (the
"Employer" or the "Company") and Ryan A. Brant ("Employee").

         WHEREAS, the Company and Employee desire to amend the terms of the

         NOW, THEREFORE, in consideration of their mutual promises, the Company
and Employee hereby agree to amend the Agreement as follows:

         1. Section I of the Agreement is amended to extend the Initial Term
until July 31, 2007.

         2. Section III A. is amended to substitute $750,000 for $600,000 (de
facto $725,000) and shall provide for an annual cost of living increase of

         3. Section III B. is amended to read as follows:

         "Employee shall be paid a bonus of $150,000 in respect of each fiscal
quarter, commencing with the fiscal quarter ending January 31, 2003, and an
annual bonus of $250,000 in respect of each fiscal year; provided that (i) the
Compensation Committee of the Board approves any such bonus, and (ii) Employer
achieves its projected cash flow and net income targets submitted to the Board
for any such fiscal quarter or fiscal year. Employer's cash flow targets shall
be determined in accordance with Employer's operating cash flow (including all
capital expenditures other than fixed assets) presented in its quarterly and
annual reports filed with the Securities and Exchange Commission. Employee shall
also be paid a signing bonus of $600,000 simultaneously with the execution

         All other terms and provisions of the Agreement remain unchanged in
full force and effect.

Dated:  November 18, 2002                   TAKE-TWO INTERACTIVE SOFTWARE, INC.

                                        By:/s/ Karl H. Winters
                                        Name:      Karl H. Winters
                                        Title: Chief Financial Officer

                                        /s/Ryan A. Brant
                                        Ryan A. Brant