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EA > SEC Filings for EA > Form 8-K on 28-Mar-2013All Recent SEC Filings

Show all filings for ELECTRONIC ARTS INC. | Request a Trial to NEW EDGAR Online Pro



Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

Executive Chairman Compensation
As previously announced on March 18, 2013, the Board of Directors (the "Board") of Electronic Arts Inc. (the "Company") appointed Lawrence F. Probst III as Executive Chairman, in addition to his role as a member of the Board.

On March 28, 2013, upon the recommendation of the Compensation Committee, the Board (with Mr. Probst abstaining) determined that as Executive Chairman Mr. Probst be paid a salary as an employee of the Company in the amount of $1,030,000 annualized, minus applicable deductions, to be paid bi-weekly in accordance with the Company's standard payroll practices, effective March 18, 2013. In addition, the Board reserves the option to award Mr. Probst a one-time discretionary bonus, with the amount, if any, to be determined by the Board (with Mr. Probst abstaining) at the end of Mr. Probst's term as Executive Chairman. Mr. Probst shall not receive further cash retainer fees for his service as a member of the Board while performing the role of Executive Chairman.

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