Amendment #1 to Employment Agreement
To Comply with the Provisions of Section 409A of the Internal Revenue Code
This Amendment #1 to Employment Agreement (this “ Amendment #1 ”) is entered into as of
December 15, 2008, by and between Michael Morhaime (“ Employee ”) and Activision Blizzard, Inc. (“
Employer ”). All capitalized terms shall have the same meaning set forth in the Employment Agreement (as
Employee and Employer entered into an Employment Agreement dated as of December 1, 2007 (the “
Employment Agreement ”).
Employee and Employer desire to amend the Employment Agreement in certain respects as set forth
herein in order to comply with the provisions of Section 409A of the Internal Revenue Code of 1986, as
The parties hereby agree to amend the terms of the Employment Agreement as follows:
1. Disability . The Employment Agreement is hereby amended to delete the second and third
sentences of Section 4(e) and replace them with the following two sentences to read as follows:
You will be deemed to have a “Disability” if, by reason of any medically determinable physical or
mental impairment that can be expected to result in death or can be expected to last for a
continuous period of not less than twelve months, you have received income replacement benefits
under the terms of any Company accident and health plan providing income replacement benefits
for a period of not less than six months. Your Base Salary shall continue until the earliest of
(i) such termination or (ii) your death or (iii) the last day of the then current Term of this Agreement
and will (under each of the foregoing clauses) be reduced by other Company provided disability
benefits paid to and received by you.
Except as specifically set forth in this Amendment #1, the Employment Agreement shall remain
unmodified and in full force and effect.