2K Sports 2009 Annual Report Download - page 65

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Management’s Annual Report on Internal Control Over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial
reporting (as defined in Rule 13a-15(f) under the Exchange Act). Management conducted an evaluation of
the effectiveness of our internal control over financial reporting based on the criteria set forth in Internal
Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO). Based on this evaluation, management has concluded that our internal control over
financial reporting was effective as of October 31, 2009. Our independent registered public accounting
firm, E&Y, has issued an attestation report on our internal control over financial reporting. The report on
the audit of internal control over financial reporting appears on page 68 of this Form 10-K.
Changes in Internal Control Over Financial Reporting
There were no changes in our internal control over financial reporting during 2009, which were identified
in connection with management’s evaluation required by paragraph (d) of Rules 13a-15 and 15d-15 under
the Exchange Act, that have materially affected, or are reasonably likely to materially affect, our internal
control over financial reporting.
Item 9B. Other Information
Compensatory Arrangements of Certain Officers
On December 16, 2009, the Company executed an amendment to its employment agreement with Lainie
Goldstein, the Company’s Chief Financial Officer.
Ms. Goldstein’s employment agreement, dated July 17, 2007, and amended on March 25, 2008, was further
amended to provide that Ms. Goldstein shall be deemed to have been terminated without cause if the
Company provides notice that it will not renew the term of Ms. Goldstein’s employment agreement.
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