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 Brian Hodous (“ Employee ”) and Activision Publishing, 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 September 18, 2006 (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. Removal of “Beach Leave” Provision : The Employment Agreement is hereby amended to
delete Section 2(c) in its entirety.
2. Bonus : The Employment Agreement is hereby amended to delete the fifth sentence of Section 2
(e) in its entirety and replace it with a new sentence to read as follows: The Annual Bonus, if
granted, shall be paid to you in a single lump sum no later than the 15th day of the third month
following the end of the fiscal year to which the bonus relates.
3. Disability : Section 9(b) of the Employment Agreement is hereby amended, following the first
sentence thereof, to read as follows: In the event of your Disability during the term of this
Agreement, upon said Disability, Employer shall have the right, in its sole discretion, to terminate
your employment under this Agreement, subject to the provisions of Paragraph 9(d)(ii) below,
and, whether or not Employer exercises such right to terminate your employment, shall be
obligated to pay you