Take-Two Interactive Software today announced that it has established a new incentive compensation program for the Rockstar Games label that is primarily based on a profit sharing arrangement, and at the same time has entered into new long-term employment agreements with members of the creative team of its wholly-owned Rockstar Games publishing label.

The new employment agreements have an initial term ending on January 31, 2012.

In addition, Take-Two has agreed to fund the future development of certain new intellectual property to be owned by a newly formed company controlled by key Rockstar Games team members and published exclusively by Take-Two.

There has been no indication of what this new intellectual property may be, however.

Sam Houser, Founder and Executive Producer of Rockstar Games, added, "The entire Rockstar team has always been dedicated to making groundbreaking games with unprecedented production values, style and depth. We are excited to continue our partnership with the new management team at Take-Two, who have helped us to protect the unique atmosphere that fosters creativity and innovation."