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ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
89
that the Atari system allows the saving of game outcomes for further use, as well as monitoring the amount of time a
player spends playing a game. Company is participating in a joint defense. Atari has filed an Answer and
Counterclaims. A trial date is currently scheduled to take place in the last calendar quarter of 2013. Atari is indemnifying
Cryptic Studios for its legal costs and Atari is running the defense for Cryptic as per the terms of the Atari/Cryptic Studios
Share Purchase Agreement. The parties have commenced discovery.
25.2.3. Walker Digital v. Cryptic Studios, Inc. and others.
Atari’s former division, Cryptic Studios was sued and served this past summer by Walker Digital for technology related to
pre-paid game card technology. The games at issue are Star Trek Online and Champions Online. Walker Digital has
not made a specified the amount of money that they are claiming as damages. Again, Cryptic was one of number of
interactive game companies that was sued by Walker Digital. Cryptic Studios has entered into a joint defense group.
Cryptic Studios has filed an answer and counterclaims. A trial date will likely be set for the first calendar quarter of
2014. Atari is indemnifying Cryptic Studios for its legal costs and Atari is running the defense for Cryptic Studios as per
the terms of the Atari/Cryptic Studios Share Purchase Agreement.
25.2.4. Lodsys v. Atari Interactive, Inc.
Atari Interactive, Inc. was sued and served this past September by Lodsys. The technology related to the Lodsys
patents involves systems and methods for providers of products and services that interact with users of those products
and services and to gather such information and transmit it to the provider. The video games at issue is Atari’s Greatest
Hits. Lodsys has not made a specified the amount of money that they are claiming as damages. Atari was one of
number of interactive game companies that was sued by Lodsys. Atari has entered into a joint defense group. Atari has
filed an answer and counterclaims. A trial date has not yet been set.
NOTE 26 – RELATED PARTY TRANSACTIONS
Related party transactions are described in the Statutory Auditors’ special report prepared in accordance with Article
L.225-40 of the French Commercial Code and reproduced below on page 125 of the present document.
26.1 RELATIONS WITH BLUEBAY RECOVERY FUND AND ITS AFFILIATES
BlueBay is the Company’s principal shareholder. As of March 31, 2012, BlueBay had one seat at the Board of Directors:
The BlueBay Value Recovery (Master) Fund Limited represented by Gene Davis.
During the period ended March 31, 2012, BlueBay and its affiliated funds performed the following transactions:
Pursuant to the amendment number 12 of the loan agreement signed on April 21th 2006, signed on October 1,
2010, the maturity date of the credit facility was extended from June 30, 2011 to December 30, 2011.
Pursuant to the amendment number 13 of the loan agreement signed on April 21th 2006, signed on October 1,
2010, the maturity date of the credit facility was extended from December 30, 2011 to June 30, 2012.
On March 31, 2012, the total amounts draw on the credit line is €24.2 million euros.
At the date of the present document, the Company and BlueBay have agreed the extension of a credit facility of €24.2
million to June 30, 2012.
26.2 COMPENSATION AND BENEFITS PAID TO EXECUTIVES AND DIRECTORS
The Group considers that key management personnel as defined by IAS 24 are the members of the Executive
Committee at 31 March 2012. The Group's executives and/or directors received the following compensation and benefits
for the years ended March 31, 2012 and 2011:
The Company's main officers are entitled to severance benefits if their employment contract and/or corporate office is
(€ million)
Year ended
March 31, 2012
Year ended
March 31, 2011
Cash compensation
Fixed compensation 0.8 1.1
Variable compensation 0.4 0.3
Special bonuses - 0.2
Severance benefits - 0.5
Directors' fees 0.5 0.3
Other compensation
- -
Employee benefits
- -
Share-based compensation (excl. Employer social security contributions)
1.0 0.1
Total 2.7 2.5