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Activision Blizzard has extended Bobby Kotick’s employment agreement, which will see him serve as company CEO until at least March 31, 2023 — but it comes with a pay cut.
As noted in a recent filing, Kotick’s agreed-upon base salary has been voluntarily reduced by 50% to align with company targets. This equates to a $875,000 reduction.
In line with this, Kotick has also agreed to reduce his target annual bonus by 50%, a potential reduction of $1.75 million for fiscal years 2021 and 2022.
However, Kotick is still eligible to earn up to 200% of the