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Monday, March 10, 2008

Take Two takes a few more

In their proxy filed Friday, Take Two, led by ZelnickMedia, further filled their contingency coffer with shareholder coin. They financially protected a number of employees against layoffs. This comes on the back of tripling their payout in the event of a buyout. It's really kinda sad that they can legally do this. How is jacking their payoff in the event of a buyout after a takeover bid has already been received any different from backdating options? They're increasing their compensation retroactively – it's the same slimy spirit, regardless of the legalities of the move.

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