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Take 2 Urges Employee Calm, Promises Cash If EAten

Take-Two Interactive tonight disclosed an email they sent out to their employees about a change in their severance plan which was triggered, it appears, by Electronic Arts offer to buy them out.

The "Change in Control Employee Severance Plan" will give "minimum levels of compensation" to all employees in the event that they are fired as a result of a change in control of the company. While Take-Two goes to some lengths to point out that this has nothing to do with the possibility of a buy-out, they also note that the plan was created to address the "understandable concerns" that some employees have about the possibility of an EA buy-out.

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