Document:

EXHIBIT 10.11

 

AMENDED SCHEDULE
TO EXHIBIT 10.10

 

The persons listed on the table below have, as of the
date indicated, each entered into an agreement with the Company that is
substantially identical to the Form of Indemnification Agreement previously
filed and referenced in Exhibit 10.10, except (i) with respect to the position
held, the gender and the name and address of the indemnitee and (ii) Section
7.5 thereof is only included in agreements entered into with directors.

 

	
  INDEMNITEE

  	
   

  	
  POSITION

  	
   

  	
  EFFECTIVE DATE

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Joe R. Davis

  	
   

  	
  Chief Executive Officer and Director

  	
   

  	
  June 30, 2004

  	
   

  
	
  Larry J.
  Alexander

  	
   

  	
  Director

  	
   

  	
  June 30, 2004

  	
   

  
	
  Brady F. Carruth

  	
   

  	
  Director

  	
   

  	
  June 30, 2004

  	
   

  
	
  Gary L. Forbes

  	
   

  	
  Director

  	
   

  	
  June 30, 2004

  	
   

  
	
  James H. Limmer

  	
   

  	
  Director

  	
   

  	
  June 30, 2004

  	
   

  
	
  Hugh N. West

  	
   

  	
  Director

  	
   

  	
  June 30, 2004

  	
   

  
	
  G. Christopher
  Colville

  	
   

  	
  Executive Vice President,

  Chief Financial and Accounting Officer

  And Secretary

  	
   

  	
  June 30, 2004Exhibit 10.10

 

SEVERANCE AGREEMENT

 

THIS SEVERANCE AGREEMENT (this “Agreement”) is entered into as
of the      day of           
200  , by and between THQ INC., a Delaware corporation (the “Company”),
and      , (the
“Executive”).

 

W I T N E S S E T H

 

WHEREAS,
the Executive currently serves as a key employee of the Company and the
Executive’s services and knowledge are valuable to the Company in connection
with the management of one or more of the Company’s principal operating
functions, departments, divisions or subsidiaries; and

 

WHEREAS,
the Board has determined that it is in the best interests of the Company and
its stockholders to encourage the Executive’s continued services and to ensure
the Executive’s continued dedication and objectivity in the event of any threat
or occurrence of, or negotiation or other action that could lead to, or create
the possibility of, a Change in Control of the Company, without concern as to
whether the Executive might be hindered or distracted by personal uncertainties
and risks created by any such possible Change in Control; and

 

WHEREAS,
to encourage the Executive’s full attention and dedication to the Company, the
Board has authorized the Company to enter into this Agreement.

 

NOW,
THEREFORE, the Company and the Executive hereby agree as follows:

 

1.                                       Definitions.

 

1.1                                 “Board” means the Board of Directors
of the Company.

 

1.2                                 “Cause” means (i) a material
breach by the Executive of those duties and responsibilities of the Executive
which do not differ in any material respect from the duties and
responsibilities of the Executive during the 90-day period immediately prior to
a Change in Control (other than as a result of incapacity due to physical or
mental illness), which breach is committed in bad faith or without reasonable
belief that such breach is in the best interests of the Company and is not
remedied within 15 days after receipt of written notice specifying such breach,
or (ii) the commission by the Executive of, or plea of guilty, no contest
or nolo contendere to, (x)
illegal conduct or gross misconduct that is materially injurious to the Company
or (y) any felony (unless arising as a result of vicarious liability or a
traffic violation).

 

In
the event of a termination before, but in connection with, a Change in Control,
the date immediately prior to the Date of Termination shall be substituted for
the reference to a Change in Control in this definition of Cause.

 

1.3                                 “Change in Control” means the
occurrence of either of the following:

 

1.3.1                        The acquisition by any Person of beneficial
ownership (within the meaning of Rule 13d-3 promulgated under the Exchange
Act) of 30% or more of either (i) the Outstanding Company Common Stock, or
(ii) the combined voting power of the Outstanding Company

 

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Voting
Securities; provided, however,
that the following acquisitions shall not constitute a Change in Control:

 

1.3.1.1               any acquisition of voting securities of the
Company directly from the Company (including any acquisition resulting from the
exercise of a conversion or exchange privilege in respect of outstanding
convertible or exchangeable securities), unless such acquisition in connection
with a Reorganization;

 

1.3.1.2               any acquisition by the Company of voting
securities of the Company; or

 

1.3.1.3               any acquisition by an employee benefit plan
(or related trust) sponsored or maintained by the Company or any corporation
controlled by the Company;

 

provided further that, for purposes of Section 1.3.1.2, if any Person (other than
the Company or any employee benefit plan (or related trust) sponsored or
maintained by the Company or any corporation controlled by the Company) shall
become the beneficial owner of 30% or more of the Outstanding Company Common
Stock or 30% or more of the Outstanding Company Voting Securities by reason of
an acquisition by the Company of another entity, and such Person shall, after
such acquisition by the Company, become the beneficial owner of any additional
shares of the Outstanding Company Common Stock or any additional Outstanding
Company Voting Securities and such beneficial ownership is publicly announced,
such additional beneficial ownership shall constitute a Change in Control.

 

1.3.2                        The individuals who, at any time, constitute
the Incumbent Board cease for any reason to constitute at least a majority of
the Board.

 

1.4.                              “Code” means the Internal Revenue Code
of 1986, as amended.

 

1.5.                              “Date of Termination” means (i) the
effective date on which the Executive’s employment by the Company terminates as
specified in a prior written notice by the Company or the Executive, as the
case may be, to the other, or (ii) if the Executive’s employment by the
Company terminates by reason of death, the date of death of the Executive.  Notwithstanding the foregoing, (x) in the
event that the Executive’s employment is terminated before, but in connection
with, a Change in Control, the date fifteen days after the date of a written
notice of the Executive’s employment termination (or, if earlier or such notice
is not provided, the actual date of termination) shall be the Executive’s “Date
of Termination,” and (y) in the event that a notice described in clause (i) of
the preceding sentence is provided by the Company to the Executive during the
Termination Period, at all events the Executive’s Date of Termination shall be
treated as if it occurred during the Termination Period.

 

1.6.                              “Exchange Act” means the Securities
Exchange Act of 1934, as amended.

 

1.7.                              “Good Reason” means, unless the
Executive expressly consents in writing, the occurrence of any of the following
events after a Change in Control:

 

1.7.1                        involuntary termination of the Executive’s
employment with the Company otherwise than as expressly permitted by this
Agreement;

 

2

 

1.7.2                        a reduction by the Company in the Executive’s
rate of annual base salary as in effect immediately prior to such Change in
Control or as the same may be increased from time to time thereafter, or the
Company’s failure to pay such salary, which reduction or failure is not cured
within 15 days after notice by the Executive to the Company thereof;

 

1.7.3                        any requirement by the Company that the
Executive’s primary work location be relocated outside a radius of 35 miles
from his primary work location at the time of the Change in Control.

 

1.7.4                        the failure of the Company, after a Change in
Control, to:

 

1.7.4.1               provide the Executive with employee benefit
plans, compensation plans, paid vacation, expense reimbursement and other
fringe benefits, on terms  that are no
less favorable, in the aggregate, than those provided under plans, practices,
programs and policies of the Company as in effect immediately prior to the
Change in Control; or

 

1.7.4.2               provide the Executive and the Executive’s
dependents with welfare benefits (including, without limitation, medical,
prescription, dental, disability, salary continuance, employee life, group
life, accidental death and travel accident insurance plans and programs), that
are no less favorable, in the aggregate, than those provided under the plans,
practices, programs and policies of the Company as in effect immediately prior
to the Change in Control.

 

1.7.5                        the failure of the Company to obtain the
assumption agreement as contemplated by Section 9.2 of the Agreement.

 

1.7.6                        a diminution of the Executive’s title or a
material diminution of the Executive’s duties, authorities or reporting
responsibilities.

 

In
the event of a termination before, but in connection with, a Change in Control,
the date immediately prior to the Date of Termination shall be substituted for
references to a Change in Control (other than as pertains to Section 1.7.4)
in this definition of Good Reason.

 

1.8.                              “Incumbent Board” means (i) the
individuals who, as of the date hereof, constitute the Board, and (ii) any
individual who becomes a director of the Company subsequent to the date hereof
whose election, or nomination for election by the Company’s stockholders, is
approved by the vote of at least a majority of the directors then comprising
the Incumbent Board; provided, however,
that no individual who was initially elected as a director of the Company as a
result of an actual or threatened election contest, as such terms are used in Rule 14a-11
of Regulation 14A promulgated under the Exchange Act, or any other actual or
threatened solicitation of proxies or consents by or on behalf of any Person
other than the Board, shall be deemed to be a member of the Incumbent Board

 

1.9.                              “Nonqualifying Termination” means a
termination of the Executive’s employment (i) by the Company for Cause, (ii) by
the Executive for any reason other than a Good Reason, (iii) as a result
of the Executive’s death, or (iv) by the Company due to the Executive’s
absence from his duties with the Company on a full-time basis for at least 180
days in any 365-day period as a result of the Executive’s incapacity due to
physical or mental illness.

 

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1.10.                        “Outstanding Company Common Stock”
means, as of any time, the shares of common stock of the Company outstanding as
of that time.

 

11.                                 “Outstanding Company Voting Securities”
means, as of any time, the securities of the Company entitled to vote generally
in the election of directors outstanding as of that time.

 

1.12.                        “Payment Trigger Date” generally means
the Date of Termination; provided, however,
that in the event of a termination of the Executive’s employment before, but in
connection with, a Change in Control, it means the date of the Change in
Control.

 

1.13.                        “Plan” means the Company’s 401(k) Plan
or any successor plan.

 

1.14.                        “Person” means any individual, entity
or group, and includes any “person” within the meaning of Section 13(d)(3) or
14(d)(2) of the Exchange Act.

 

1.15.                        “Qualifying Termination” means any
employment termination other than a Nonqualifying Termination.

 

1.16.                        “Reorganization” means reorganization,
merger or consolidation.

 

1.17.                        “Termination Period” means the period
of time beginning with a Change in Control, and ending on the earlier to occur
of (i) one year following such Change in Control, and (ii) the
Executive’s death; provided, however, that
any termination of the Executive’s employment by the Company before, but in
connection with, a Change in Control shall be deemed to have occurred during
the Termination Period.

 

2.                                       Payments Upon Termination of Employment.

 

2.1                                 If during the Termination Period the
employment of the Executive shall terminate by reason of Qualifying
Termination, the Company shall pay to the Executive (or to the Executive’s
beneficiary or estate), as compensation for services rendered to the Company:

 

2.1.1                        Within 30 days following the Payment Trigger
Date, a cash amount equal to the sum of (i) the Executive’s annual base
salary from the Company and its affiliated companies through the Date of
Termination, to the extent not theretofore paid, and (iii) any
compensation previously deferred by the Executive (together with any interest
and earnings thereon) and any accrued vacation pay, in each case to the extent
not theretofore paid; plus

 

2.1.2                        A cash amount equal to (i) one times the
Executive’s annual base salary from the Company and its affiliated companies in
effect at the time of the Date of Termination; 
(ii) one times (A) the Executive’s annual bonus paid,
including any such amount that was subject to deferral, to the Executive by the
Company and its affiliated companies in respect of the fiscal year of the
Company immediately preceding the fiscal year in which the Date of Termination
occurs, or, if the Executive were ineligible for a bonus in such year or such
amount was not yet paid or determined, (B) the Executive’s target bonus
then in effect; (iii) the product of the amount described in clause (ii) and
a fraction, the numerator of which is the number of days in the current fiscal
year through the Date of Termination and the denominator of which is 365; and (iv) any
accrued but unpaid bonus for the fiscal year ended immediately prior to the
fiscal year in which

 

4

 

the
Date of Termination occurs.  Such
aggregate amount shall be payable in a lump sum (subject to any applicable
payroll or other taxes required to be withheld pursuant to Section 4
hereof) within 30 days following the Payment Trigger Date.  The amounts payable pursuant to this Section 2.1.2
shall reduce, dollar-for-dollar (but not below zero), any other amount of
severance relating to salary or bonus continuation otherwise payable to the
Executive upon termination of employment of the Executive under any severance
plan, policy or arrangement of the Company, and the Executive shall not be
entitled to post-employment benefits under any such plan, policy or arrangement
to the extent such benefits would be duplicative of, and of equal or lesser
value to, the post-employment benefits provided hereunder.  In the event of a termination before, but in
connection with, a Change in Control, the Executive shall receive whatever
amounts and benefits would be provided to him by the Company in the absence of
a Change in Control under the terms of any other agreement or program, with
such amounts offsetting the amounts or benefits otherwise due hereunder (including
under this Section 2) following the occurrence of the Change in
Control.  As used in this Agreement, a
termination shall be treated as occurring “before, but in connection with, a
Change in Control” (or words of like import) if it is reasonably demonstrated
by the Executive that such termination (x) is without Cause or for Good Reason
and (y) arose in connection with or in anticipation of a Change in Control
(which shall in all events be deemed demonstrated if such termination is within
90 days before the Change in Control). 
In no event shall the Executive be treated as having been terminated
before, but in connection with, a Change in Control if no Change in Control
occurs.

 

2.2                                 If during the Termination Period the
employment of the Executive shall terminate by reason of a Qualifying
Termination, the Executive shall also be entitled to the following:

 

2.2.1                        If on the Date of Termination the Executive
shall not be fully vested in the employer contributions made on his behalf under
the Plan, the Company shall pay to the Executive, outside of the Plan and
within 30 days following the Payment Trigger Date, a lump sum cash amount equal
to the value of the unvested portion of such employer contributions (and the
Executive shall forfeit any such unvested employer contributions); provided, however, that if any payment
pursuant to this Section 2.2.1 may or would result in such payment being
deemed a transaction which is subject to Section 16(b) of the
Securities Exchange Act, the Company shall make such payment so as to meet the
conditions for an exemption from such Section 16(b) as set forth in
the rules (and interpretive and no-action letters relating thereto) under Section 16.  The value of any such unvested employer
contributions shall be determined as of the Date of Termination; provided that
if the common stock of the Company is traded on NASDAQ or any stock exchange on
the Date of Termination, the value of a share of common stock of the Company
shall be the closing price on NASDAQ or such stock exchange on the Date of
Termination or, if such date is not a trading day, on the immediately preceding
trading day.

 

2.2.2                        For a period of 12 months commencing on the
Payment Trigger Date, the Company shall provide policies of medical, accident,
disability and life insurance that are no less favorable, in the aggregate,
with respect to the Executive and his dependents (taking into consideration
level of coverage and terms) than those in effect immediately prior to the
Payment Trigger Date or, if more favorable to the Executive, as provided
generally with respect to other peer executives of the Company and its
affiliated companies, and the Company and the Executive shall share the costs
of the continuation of such insurance coverage in the same proportion as such
costs were shared immediately prior to the Payment Trigger Date.

 

5

 

2.2.3                        If on the Date of Termination the Executive
shall not be fully vested with respect to any stock options and shares of
restricted stock previously granted to the Executive, on the Date of
Termination all such stock options and shares of restricted stock shall become
immediately vested and exercisable (notwithstanding any provision of the Company’s
applicable equity plans to the contrary). 
Such options shall be exercisable for such period following the Date of
Termination as is provided in the plan and/or agreement pursuant to which such
options or shares of restricted stock were granted.  In the event of a termination of the
Executive’s employment before, but in connection with, a Change in Control, the
Executive shall not forfeit or further vest in any unvested options or shares
of restricted stock between his Date of Termination and the Change in Control
but all such awards shall vest in full upon the Change in Control.

 

2.3                                 If during the Termination Period the
employment of the Executive shall terminate by reason of a Nonqualifying
Termination, then the Company shall pay to the Executive within 30 days
following the Date of Termination, a cash amount equal to the sum of (i) the
Executive’s annual base salary from the Company and its affiliated companies
through the Date of Termination, to the extent not theretofore paid, and (ii) any
compensation previously deferred by the Executive (together with any interest
and earnings thereon) and any accrued vacation pay, in each case to the extent
not theretofore paid.

 

3.                                       Limitation on Payments by the Company. 
Solely for the purposes of the computation of benefits under this
Agreement and notwithstanding any other provisions hereof, payments to the
Executive under this Agreement shall be reduced (but not below zero) so that
the present value, as determined in accordance with Section 280G(d)(4) of
the Code, of such payments plus any other payments that must be taken into
account for purposes of any computation relating to the Executive under Section 280G(b)(2)(A)(ii) of
the Code, shall not, in the aggregate, exceed 2.99 times the Executive’s “base
amount,” as such term is defined in Section 280G(b)(3) of the
Code.  Notwithstanding any other
provision hereof, no reduction in payments under the limitation contained in
the immediately preceding sentence shall be applied to payments hereunder which
do not constitute “excess parachute payments” within the meaning of the
Code.  Any payments in excess of the
limitation of this Section 3 or otherwise determined to be “excess
parachute payments” made to the Executive hereunder shall be deemed to be
overpayments which shall constitute an amount owing from the Executive to the
Company with interest from the date of receipt by the Executive to the date of
repayment (or offset) at the applicable federal rate under Section 1274(d) of
the Code, compounded semi-annually, which shall be payable to the Company upon
demand.

 

4.                                       Withholding Taxes.  The
Company may withhold from all payments due to the Executive (or his beneficiary
or estate) hereunder all taxes which, by applicable federal, state, local or
other law, the Company is required to withhold therefrom.

 

5.                                       Reimbursement of Expenses.  If
any contest or dispute shall arise under this Agreement involving termination
of the Executive’s employment with the Company or involving the failure or
refusal of the Company to perform fully in accordance with the terms hereof,
the Company shall reimburse the Executive, on a current basis, for all legal
fees and expenses, if any, reasonably incurred by the Executive in connection
with such contest or dispute, together with interest in an amount equal to the
prime or reference rate of the Company’s principal bank from time to time in
effect, but in no event higher than the maximum legal rate permissible under
applicable law, such interest to accrue from the date 20 days after the Company
receives the Executive’s statement for such fees and expenses through the

 

6

 

date
of payment thereof; provided, however,
that in the event the resolution of any such contest or dispute includes a
finding that the Executive’s claims in such contest or dispute were frivolous
or brought by the Executive not in good faith, (i) the Company shall be
entitled to deduct and withhold from any funds payable by the Company to the
Executive the amount advanced or otherwise paid to the Executive pursuant to
this Section 5, and (ii) to the extent not reimbursed to the Company
in such manner, the Executive shall be required to reimburse the Company, not
later than in twelve equal monthly installments commencing 30 days after such
resolution, such amount.

 

6.                                       Operative Event. 
Notwithstanding any provision herein to the contrary, no amounts shall
be payable hereunder unless and until (i) there is a Change in Control at
a time when the Executive is employed by the Company or (ii) the Executive
is terminated by the Company before, but in connection with, a Change in
Control.

 

7.                                       Termination of Agreement.

 

7.1                                 This Agreement shall be effective on the date
hereof and shall continue until terminated by the Company as provided in Section 7.2
hereof; provided, however, that
this Agreement shall terminate in any event upon the first to occur of (i) the
Executive’s death, and (ii) termination of the Executive’s employment with
the Company prior to a Change in Control (unless such termination prior to a
Change in Control is in connection with a Change in Control).

 

7.2                                 The Company shall have the right, prior to a
Change in Control, in its sole discretion, pursuant to action by the Board, to
approve and cause the termination of this Agreement on such date as is fixed by
the Board for such termination, which date shall be at least one year after
notice thereof is given by the Company to the Executive in accordance with Section 10
hereof; provided, however, that
no such action shall be taken by the Board during any period of time when the
Board has knowledge that any Person has taken steps reasonably calculated to
effect a Change in Control until, in the opinion of the Board, such Person has
abandoned or terminated its efforts to effect a Change in Control; and provided further, that in no event shall
this Agreement be terminated in the event of a Change in Control.

 

8.                                       Scope of Agreement. 
Nothing in this Agreement shall be deemed to entitle the Executive to
continued employment with the Company or its subsidiaries, and if the Executive’s
employment with the Company shall terminate prior to a Change in Control, the
Executive shall have no further rights under this Agreement; provided, however, that any termination of
the Executive’s employment following a Change in Control or before, but in
connection with, a Change in Control shall be subject to all of the provisions
of this Agreement.

 

9.                                       Successors; Binding Agreement.

 

9.1                                 This Agreement shall not be terminated by any
Reorganization of the Company irrespective of whether the Company is or is not
the surviving or resulting corporation or as a result of any transfer of all or
substantially all of the assets of the Company. 
In the event of any such Reorganization or transfer of assets, the
provisions of this Agreement shall be binding upon the surviving or resulting
corporation or the Person to which such assets are transferred.

 

9.2                                 The Company agrees that concurrently with any
Reorganization or transfer of assets referred to in Section 9.1 in which
either the Company is not the surviving

 

7

 

Person
or the surviving Person or successor or transferee is not deemed to assume this
Agreement by operation of law, the Company will cause the surviving Person,
successor or transferee unconditionally to assume, by written instrument
delivered to the Executive (or his beneficiary or estate), all of the
obligations of the Company hereunder. 
Failure of the Company to obtain such assumption prior to the
effectiveness of any such Reorganization or transfer of assets shall be a
breach of this Agreement and shall entitle the Executive to compensation and
other benefits from the Company in the same amount and on the same terms as the
Executive would be entitled hereunder if the Executive’s employment were
terminated following a Change in Control by reason of a Qualifying
Termination.  For purposes of
implementing the immediately preceding sentence, the date on which any such
Reorganization or transfer becomes effective shall be deemed the Date of
Termination.

 

9.3                                 This Agreement shall inure to the benefit of
and be enforceable by the Executive’s personal or legal representatives,
executors, administrators, successors, heirs, distributees, devisees and
legatees.  If the Executive shall die
while any amounts would be payable to the Executive hereunder had the Executive
continued to live, then, unless otherwise provided herein, all such amounts,
shall be paid in accordance with the terms of this Agreement to such Persons
appointed in writing by the Executive to receive such amounts or, if no Person
is so appointed, to the Executive’s estate.

 

10.                                 Notices.

 

10.1                           For purposes of this Agreement, all notices
and other communications required or permitted hereunder shall be in writing
and shall be deemed to have been duly given when delivered or five days after
deposit in the United States mail, certified and return receipt requested,
postage prepaid, addressed (i) if to the Executive, to the residence
address of the Executive maintained from time to time by the Company; and if to
the Company, to its chief executive office, attention Chief Executive Officer,
with a copy to the Secretary of the Company; (ii) to such other address as
either party may have furnished to the other in writing in accordance herewith,
except that notices of change of address shall be effective only upon receipt.

 

10.2                           A written notice of the Executive’s Date of
Termination by the Company or the Executive, as the case may be, to the other,
shall (i) indicate the specific termination provision in this Agreement
relied upon, (ii) to the extent applicable, set forth in reasonable detail
the facts and circumstances claimed to provide a basis for termination of the
Executive’s employment under the provision so indicated, and (iii) specify
the termination date (which date shall be not less than 15 days after the
giving of such notice).  The failure by
the Executive or the Company to provide such notice or to set forth in such
notice any fact or circumstance which contributes to a showing of Good Reason
or Cause shall not waive any right of the Executive or the Company hereunder or
preclude the Executive or the Company from asserting such fact or circumstance
in enforcing the Executive’s or the Company’s rights hereunder.

 

11.                                 Full Settlement; No Mitigation; Resolution of
Disputes.

 

11.1                           Subject to Section 5, the Company’s
obligation to make any payments provided for in this Agreement and otherwise to
perform its obligations hereunder shall not be affected by any set-off,
counterclaim, recoupment, defense or other claim, right or action which the
Company may have against the Executive or other Persons.  In no event shall the Executive be obligated
to seek other employment or take any other action by way of mitigation of the
amounts payable to the Executive under

 

8

 

any
of the provisions of this Agreement and, such amounts shall not be reduced
whether or not the Executive obtains other employment.

 

11.2                           If there shall be any dispute between the
Company and the Executive in the event of any termination of the Executive’s
employment, then, unless and until there is a final, nonappealable judgment by
a court of competent jurisdiction declaring that such termination was for
Cause, that Good Reason did not exist, or that the Company is not otherwise
obligated to pay any amount or provide any benefit to the Executive and his
dependents or other beneficiaries, as the case may be, under Sections 2.1 or
2.2 hereof, the Company shall pay all amounts, and provide all benefits, to the
Executive and his dependents or other beneficiaries, as the case may be, that
the Company would be required to pay or provide pursuant to Sections 2.1 and
2.2 hereof as though such termination were by the Company without Cause or by
the Executive with Good Reason; provided,
however, that the Company shall not be required to pay any disputed
amounts pursuant to this section except upon receipt of an undertaking by
or on behalf of the Executive to repay all such amounts to which the Executive
is ultimately adjudged by such court not to be entitled.

 

12.                                 Employment with Subsidiaries. 
Employment with the Company for purposes of this Agreement shall include
employment with any corporation or other entity in which the Company has a
direct or indirect ownership interest of 50% or more of the total combined
voting power of the then outstanding securities of such corporation or other
entity entitled to vote generally in the election of directors.

 

13.                                 Governing Law; Validity.  The
interpretation, construction and performance of this Agreement shall be
governed by and construed and enforced in accordance with the internal laws of
the State of Delaware without regard to the principle of conflicts of laws.  The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, which other provisions shall remain in
full force and effect.

 

14.                                 Counterparts.  This
Agreement may be executed in two or more counterparts, each of which shall be
deemed to be an original and all of which together shall constitute one and the
same instrument.

 

15.                                 Miscellaneous.  No
provision of this Agreement may be modified or waived unless such modification
or waiver is agreed to in writing and signed by the Executive and by a duly
authorized officer of the Company.  No
waiver by either party hereto at any time of any breach by the other party
hereto of, or compliance with, any condition or provision of this Agreement to
be performed by such other party shall be deemed a waiver of similar or
dissimilar provisions or conditions at the same or at any prior or subsequent
time.  Failure by the Executive or the
Company to insist upon strict compliance with any provision of this Agreement
or to assert any right the Executive or the Company may have hereunder,
including, without limitation, the right of the Executive to terminate
employment for Good Reason, shall not be deemed to be a waiver of such
provision or right or any other provision or right of this Agreement.  The rights of, and benefits payable to, the
Executive, his estate or his beneficiaries pursuant to this Agreement are in addition
to any rights of, or benefits payable to, the Executive, his estate or his
beneficiaries under any other employee benefit plan or compensation program of
the Company.

 

16.                                 Applicable Law.  The
intent of the parties is that this Agreement will be in full compliance with
all applicable laws, including without limitation, Section 409A of the
Code and any laws of a jurisdiction outside of the United States to which the
Executive or the Company are subject.  In
the

 

9

 

event that the Company determines that any provision of this Agreement
is inconsistent with the requirements of any such law, the Company reserves the
right to modify or reinterpret such provision (including, without limitation,
by delay of payments otherwise due) without formal amendment to the extent it
deems necessary to comply therewith while giving maximum effect to the original
intent of the parties.  This Section 16
is not intended to provide a guarantee of tax treatment.

 

[Remainder of Page Intentionally Left Blank]

 

10

 

17.                                 Entire Agreement.  This
Agreement represents the complete understanding of the parties and supersedes
any and all agreements, understandings and discussions, whether written or
oral, between the Executive and the Company or any of its affiliated companies
with respect to the subject matter hereof, including, without limitation, the
Severance Agreement entered into as of             ,  by and between the Executive and the Company.

 

IN
WITNESS WHEREOF, the Company and the Executive have executed this Agreement as
of the day and year first above written.

 

	
   

  	
  THQ INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Brian
  J. Farrell, Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  
	
   

  	
   

  

 

11

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