The CEO of Activision Blizzard, Robert Kotick, could receive up to $14.6 million in compensation if he is fired without cause following Microsoft's acquisition.
As reported by Axios, a filing with the SEC details the so-called "golden parachute" agreements that Activision Blizzard has with its executives. Kotick is set to receive $14,592,302 in compensation if he is laid off without cause or leaves with "good reason" following a change of control in the company - such as it being bought by Microsoft. This is severance plus three times his annual salary.
That's on top of the 6.5 million shares that Kotick owns in Activision Blizzard - or has the right to acquire - which clocks in at around $619 million at the $95 per share that Microsoft is offering the company.
Kotick also stands to receive as much as $22 million in stock in July of this year if the Activision Blizzard board sees an improvement in company culture.
The CEO saw his base salary halved last year in response to reports around to company's toxic working culture. There are reports that Kotick will leave Activision Blizzard following the Microsoft acquisition; in the meantime, the board has the option to renew his contract for another 12 months in July.