EA pays $1.5 million for Moore

According to documents filed with the SEC, Electronic Arts is to pay Peter Moore USD 1.5 million in recognition of the compensation value he is foregoing by leaving Microsoft.

Mooreâs annual base salary will be USD 550,000, and his discretionary target bonus percentage will be 75 per cent of that salary. He has been granted stock options to purchase 350,000 shares of common stock, as well as 50,000 shares of restricted stock which vest as to 50 per cent of the shares in two years and the remaining 50 percent of the shares in four years.

Microsoft announced today that Peter Moore is resigning from his position, effective July 30. Shortly thereafter, Electronic Arts announced that Moore has been hired as president of the EA Sports label.

To move Moore and his family, EA is paying an estimated USD 333,000 to assist with relocation-related expenses. If Moore voluntarily leaves EA within the next two years, he has agreed to repay the USD 1.5 million bonus.

Moore will also participate in the compensation and benefit programs generally available to EAâs executive officers

"The people at EA Sports have created one of the strongest brands in the entertainment industry and John Riccitiello is building an organisation which will extend the companyâs leadership to new platforms and new audiences all over the world," Moore said.

"I couldnât be more excited about joining EA and moving my family back to the San Francisco Bay Area."