Grand Theft Auto publisher Take-Two today announced that it has established a severance plan for employees in response to concerns over Electronic Arts’ $2.0 billion takeover bid, which Take-Two has rejected for now, but plans to resume talks with EA after the release of GTA IV on April 30.

Under the plan, company executives will receive up to 1.5 times their base salary and bonus for up to 18 months if they are fired without cause, while non-executive employees will receive up to six months in salary.

Take-Two forms severance plan in case of takeover [Reuters]

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