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Take-Two Announces Agreements with Rockstar Creative Talent

50°
300w ago - Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today announced that it has established a new incentive compensation program for the Rockstar Games label that is primarily based on a profit sharing arrangement, and at the same time has entered into new long-term employment agreements with members of the creative team of its wholly-owned Rockstar Games publishing label.

The new employment agreements have an initial term ending on January 31, 2012.

Press Release: New York, NY - December 17, 2008 - Among the Rockstar Games team members entering into new long-term employment agreements are Sam Houser, Dan Houser and Leslie Benzies, as well as several other key members of the creative team behind the renowned Grand Theft Auto series. This team has been instrumental in the development and success of Take-Two's extensive portfolio of multi-million unit internally owned franchises.

In addition, Take-Two has agreed to fund the future development of certain new intellectual property to be owned by a newly formed company controlled by key Rockstar Games team members and published exclusively by Take-Two.

Strauss Zelnick, Chairman of Take-Two, commented, "We're delighted with the extension and expansion of Take-Two's relationship with the Rockstar team. The talent and creativity at Rockstar...
 
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