**Exhibit 10.7**

**[FORM OF RESTRICTED SHARE AWARD AGREEMENT**

**(TIME VESTED AND DOUBLE TRIGGER)]**

RESTRICTED SHARE AWARD AGREEMENT UNDER THE DREAMWORKS ANIMATION SKG, INC., 2004 OMNIBUS INCENTIVE COMPENSATION PLAN dated as of **«Month»«Day», «Year»,** between DreamWorks Animation SKG, Inc. (the “Company”), a Delaware Corporation, and **«First» «Last»**. 

This Restricted Share Award Agreement (the “Award Agreement”) sets forth the terms and conditions of an award of**«Restricted_Shares»** shares (the “Award”) of the Company’s Class A Common Stock, $0.01 par value, that are subject to certain restrictions on transfer and risks of forfeiture and other terms and conditionsspecified herein (“Restricted Shares”) and that are granted to you under the DreamWorks Animation SKG, Inc. 2004 Omnibus Incentive Compensation Plan (the “Plan”). 

THIS AWARD IS SUBJECT TO ALL TERMS AND CONDITIONS OF THE PLAN AND THIS AWARD AGREEMENT, INCLUDING, WITHOUT LIMITATION, THE DISPUTE RESOLUTION PROVISIONSSET FORTH IN SECTION 10. BY SIGNING YOUR NAME BELOW, YOU WILL HAVE CONFIRMED YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS OF THIS AWARD AGREEMENT. 

SECTION 1. The Plan. This Award is made pursuant to the Plan, all the terms of which are hereby incorporated in this Award Agreement. In the event of any conflict between the terms of the Plan and the terms of this Award Agreement,the terms of this Award Agreement shall govern. In the event of any conflict between the terms of this Award Agreement and the terms of any individual employment agreement between you and the Company or any of its Affiliates (an “EmploymentAgreement”), the terms of your Employment Agreement will govern. 

SECTION 2. Definitions. Capitalized terms used in this AwardAgreement that are not defined in this Award Agreement have the meanings as used or defined in the Plan. As used in this Award Agreement, the following terms have the meanings set forth below: 

“Business Day” means a day that is not a Saturday, a Sunday or a day on which banking institutions are legally permitted to be closed inthe City of New York. 

“Cause” (a) shall have the meaning set forth in your Employment Agreement or (b) if thereis no definition set forth in your Employment Agreement or if you do not have an Employment Agreement, shall mean the occurrence of any of the following events: 

(i) your fraud, misappropriation, embezzlement or misuse of funds or property belonging to the Company; 

(ii) your failure, following notice from the Company, to substantially perform your duties to the Company (other than as a result ofincapacity due to physical or mental illness); 

 

**[FORM OF RESTRICTED SHARE AWARD AGREEMENT (TIME VESTED)]**

 

(iii) your conviction of, or entry of a plea of guilty ornolo contendre to, a felony or a crime involving moral turpitude; 

(iv) any willful act, or failure to act, by you inbad faith to the material detriment of the Company; or 

(v) your material non-compliance with established Company policiesand guidelines (after which you have been informed in writing of such policies and guidelines and you have failed to cure such non-compliance). 

“Change of Control” (a) shall have the meaning set forth in your Employment Agreement or (b) if there is no definition set forth in your Employment Agreement or if you do not have an Employment Agreement, shallmean the occurrence of either of the following events: 

(i) during any period of 14 consecutive calendar months, individualswho were directors of the Company on the first day of such period (the “Incumbent Directors”) cease for any reason to constitute a majority of the Board of Directors of the Company (the “Board”); provided, however,that any individual becoming a director subsequent to the first day of such period whose election, or nomination for election, by the Company’s stockholders was approved by a vote of at least a majority of the Incumbent Directors shall beconsidered as though such individual were an Incumbent Director, but excluding, for purposes of this proviso, any such individual whose initial assumption of office occurs as a result of an actual or threatened proxy contest with respect to electionor removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a “person” (as such term is used in Section 13(d) of the Securities Exchange Act of 1934, as amended (the “ExchangeAct”)) (each, a “Person”), in each case other than the management of the Company, the Board or the holders of the Company’s Class B common stock par value $0.01; 

(ii) the consummation of (A) a merger, consolidation, statutory share exchange or similar form of corporate transaction involving(x) the Company or (y) any of its subsidiaries, but in the case of this clause (y) only if Company Voting Securities (as defined below) are issued or issuable (each of the events referred to in this clause (A) being hereinafterreferred to as a “Reorganization”) or (B) the sale or other disposition of all or substantially all the assets of Company to an entity that is not an affiliate (a “Sale”), in each such case, if such Reorganization or Salerequires the approval of the Company’s stockholders under the law of the Company’s jurisdiction of organization (whether such approval is required for such Reorganization or Sale or for the issuance of securities of the Company in suchReorganization or Sale), unless, immediately following such Reorganization or Sale, (1) all or substantially all the individuals and entities who were the “beneficial owners” (as such term is defined in Rule 13d-3 under the ExchangeAct (or a successor rule thereto)) of the securities eligible to vote for the election of the Board (“Company Voting Securities”) outstanding immediately prior to the consummation of such Reorganization or 

 

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**[FORM OF RESTRICTED SHARE AWARD AGREEMENT (TIME VESTED)]**

 

Sale beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding voting securities of the corporationresulting from such Reorganization or Sale (including, without limitation, a corporation that as a result of such transaction owns the Company or all or substantially all the Company’s assets either directly or through one or more subsidiaries)(the “Continuing Corporation”) in substantially the same proportions as their ownership, immediately prior to the consummation of such Reorganization or Sale, of the outstanding Company Voting Securities (excluding any outstanding votingsecurities of the Continuing Corporation that such beneficial owners hold immediately following the consummation of the Reorganization or Sale as a result of their ownership prior to such consummation of voting securities of any company or otherentity involved in or forming part of such Reorganization or Sale other than the Company), (2) no Person (excluding (x) any employee benefit plan (or related trust) sponsored or maintained by the Continuing Corporation or any corporationcontrolled by the Continuing Corporation, (y) Jeffrey Katzenberg and (z) David Geffen) beneficially owns, directly or indirectly, 40% or more of the combined voting power of the then outstanding voting securities of the ContinuingCorporation and (3) at least 50% of the members of the board of directors of the Continuing Corporation were Incumbent Directors at the time of the execution of the definitive agreement providing for such Reorganization or Sale or, in theabsence of such an agreement, at the time at which approval of the Board was obtained for such Reorganization or Sale; 

(iii) the stockholders of the Company approve a plan of complete liquidation or dissolution of Company; or 

(iv)any Person, corporation or other entity or “group” (as used in Section 14(d)(2) of the Exchange Act) (other than (A) the Company, (B) any trustee or other fiduciary holding securities under an employee benefit plan of theCompany or an affiliate or (C) any company owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of the voting power of Company Voting Securities) becomes the beneficialowner, directly or indirectly, of securities of the Company representing 40% or more of the combined voting power of Company Voting Securities but only if the percentage so owned exceeds the aggregate percentage of the combined voting power ofCompany Voting Securities then owned, directly or indirectly, by Jeffrey Katzenberg and David Geffen; provided, however, that for purposes of this subparagraph (iv), the following acquisitions shall not constitute a change of control:(x) any acquisition directly from the Company or (y) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or an Affiliate. 

 

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**[FORM OF RESTRICTED SHARE AWARD AGREEMENT (TIME VESTED)]**

 

“Good Reason” (a) shall have the meaning set forth inyour Employment Agreement or (b) if there is no definition set forth in your Employment Agreement or if you do not have an Employment Agreement, shall mean the occurrence of either of the following events: 

(i) a change of your principal place of employment to a location more than 50 miles from your principal place of employment immediatelyprior to the change; or 

(ii) a reduction of more than 10% in your annual base salary, other than a reduction that isconsistent and proportional with an overall reduction in the base salaries of all similarly situated employees of the Company. 

“Vesting Date” means the date on which your rights with respect to all or a portion of the Restricted Shares subject to this Award Agreement may become fully vested, and the restrictions set forth in this Award Agreementmay lapse, as provided in Sections 3(a) or 3(b) of this Award Agreement. 

SECTION 3. Vesting and Delivery. (a) RegularlyScheduled Vesting. On each Vesting Date set forth below, your rights with respect to the number of Restricted Shares that corresponds to such Vesting Date, as specified in the chart below, shall become vested, and the restrictions set forth inthis Award Agreement shall lapse, provided that you must be employed by the Company or an Affiliate on the relevant Vesting Date, except as otherwise determined by the Committee in its sole discretion or as otherwise provided in your EmploymentAgreement. 

 

**Vesting Date**
 
**Aggregate Percentage**

**Vested**
 
**Aggregate Number of**

**Restricted Shares Subject to**

**Vesting**

**«Vesting_Date_1»**
 **25** **«RSU1»**
**«Vesting_Date_2»**
 **50** **«RSU2»**
**«Vesting_Date_3»**
 **75** **«RSU3»**
**«Vesting_Date_4»**
 **100** **«RSU4»**
(b) Vesting following a Change of Control. Subject to the last sentence of thisSection 3(b) and to the procedures set forth herein, if, during the one-year period following a Change of Control, your employment is terminated by the Company without Cause or you terminate your employment for Good Reason, then your rightswith respect to any then-unvested Restricted Shares shall become immediately vested. In such event, the date of such termination of your employment shall be considered a Vesting Date hereunder. Notwithstanding any provision of this Award Agreementto the contrary, you will not be entitled to terminate your employment for Good Reason for purposes of this Award Agreement as the result of any event specified in clause (i) or (ii) of the 

 

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**[FORM OF RESTRICTED SHARE AWARD AGREEMENT (TIME VESTED)]**

 

definition of Good Reason unless, within ninety (90) days following the occurrence of such event, you give the Company written notice of the occurrenceof such event, which notice sets forth the exact nature of the event and the conduct required to cure such event. The Company shall have thirty (30) days from the receipt of such notice within which to cure (such period, the “CurePeriod”). If, during the Cure Period, such event is remedied, then you will not be permitted to terminate your employment for Good Reason as a result of such event. If, at the end of the Cure Period, the event that constitutes Good Reason hasnot been remedied, you will be entitled to terminate your employment for Good Reason during the sixty (60) day period that follows the end of the Cure Period. Notwithstanding the foregoing, in the event that your Employment Agreementspecifically provides for vesting of any then-unvested Restricted Shares upon or following a Change of Control, the terms of your Employment Agreement will govern. 

(c) Delivery of Shares. On or following the date of this Award Agreement, certificates issued in respect of Restricted Shares shall be registered in your name and deposited by you, together with a stock powerendorsed in blank, with the Company or such other custodian as may be designated by the Committee or the Company, and shall be held by the Company or other custodian, as applicable, until such time, if any, as your rights with respect to suchRestricted Shares become vested. Upon the vesting of your rights with respect to such Restricted Shares, the Company or other custodian, as applicable, shall deliver such certificates to you or your legal representative. 

(d) Change of Control under the Plan. For the avoidance of doubt, pursuant to Section 8 of the Plan, in the event of a Change of Control,unless provision is made in connection with such Change of Control for (i) assumption of this Award or (ii) substitution for the Restricted Shares of new restricted shares of a successor corporation or its “parent corporation”(as defined in Section 424(e) of the Code) or “subsidiary corporation” (as defined in Section 424(f) of the Code) with appropriate adjustments as to the number and kinds of shares subject thereto, all outstanding RestrictedShares that you hold shall automatically vest as of immediately prior to such Change of Control. 

SECTION 4. Forfeiture of RestrictedShares. Unless the Committee determines otherwise, and except as otherwise provided in Section 3(b) of this Award Agreement or in your Employment Agreement, if your rights with respect to any Restricted Shares awarded to you pursuant tothis Award Agreement have not become vested prior to the date on which your employment with the Company and its Affiliates terminates, your rights with respect to such Restricted Shares shall immediately terminate, and you will be entitled to nofurther payments or benefits with respect thereto. 

SECTION 5. Voting Rights; Dividend Equivalents. Prior to the date on which yourrights with respect to a Restricted Share have become vested, you shall not be entitled to exercise any voting rights with respect to such Restricted Share and shall not be entitled to receive dividends or other distributions with respect thereto.

SECTION 6. Non-Transferability of Restricted Shares. Unless otherwise provided by the Committee in its discretion, RestrictedShares may not be sold, assigned, alienated, transferred, pledged, attached or otherwise encumbered except as provided in Section 9(a) of the Plan. Any purported sale, assignment, alienation, transfer, pledge, attachment or other encumbrance ofRestricted Shares in violation of the provisions of this Section 6 and Section 9(a) of the Plan shall be void. 

 

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**[FORM OF RESTRICTED SHARE AWARD AGREEMENT (TIME VESTED)]**

 

SECTION 7. Withholding, Consents and Legends.(a) Withholding. The delivery of Share certificates pursuant to Section 3(c) is conditioned on satisfaction of any applicable withholding taxes in accordance with Section 9(d) of the Plan. 

(b) Consents. Your rights in respect of the Restricted Shares are conditioned on the receipt to the full satisfaction of the Committee of anyrequired consents that the Committee may determine to be necessary or advisable (including, without limitation, your consenting to the Company’s supplying to any third-party recordkeeper of the Plan such personal information as the Committeedeems advisable to administer the Plan). 

(c) Legends. The Company may affix to certificates for Shares issued pursuant to thisAward Agreement any legend that the Committee determines to be necessary or advisable (including to reflect any restrictions to which you may be subject under any applicable securities laws). The Company may advise the transfer agent to place a stoporder against any legended Shares. 

SECTION 8. Successors and Assigns of the Company. The terms and conditions of this AwardAgreement shall be binding upon and shall inure to the benefit of the Company and its successors and assigns. 

SECTION 9. CommitteeDiscretion. The Committee shall have full and plenary discretion with respect to any actions to be taken or determinations to be made in connection with this Award Agreement, and its determinations shall be final, binding and conclusive.

SECTION 10. Dispute Resolution. (a) Jurisdiction and Venue. Notwithstanding any provision in your Employment Agreement,you and the Company irrevocably submit to the exclusive jurisdiction of (i) the United States District Court for the District of Delaware and (ii) the courts of the State of Delaware for the purposes of any suit, action or other proceedingarising out of this Award Agreement or the Plan. You and the Company agree to commence any such action, suit or proceeding either in the United States District Court for the District of Delaware or, if such suit, action or other proceeding may notbe brought in such court for jurisdictional reasons, in the courts of the State of Delaware. You and the Company further agree that service of any process, summons, notice or document by U.S. registered mail to the other party’s address setforth below shall be effective service of process for any action, suit or proceeding in Delaware with respect to any matters to which you have submitted to jurisdiction in this Section 10(a). You and the Company irrevocably and unconditionallywaive any objection to the laying of venue of any action, suit or proceeding arising out of this Award Agreement or the Plan in (A) the United States District Court for the District of Delaware or (B) the courts of the State of Delaware,and hereby and thereby further irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum. 

 

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**[FORM OF RESTRICTED SHARE AWARD AGREEMENT (TIME VESTED)]**

 

(b) Waiver of Jury Trial. You and the Company hereby waive, to thefullest extent permitted by applicable law, any right either of you may have to a trial by jury in respect to any litigation directly or indirectly arising out of, under or in connection with this Award Agreement or the Plan. 

(c) Confidentiality. You hereby agree to keep confidential the existence of, and any information concerning, a dispute described in thisSection 10, except that you may disclose information concerning such dispute to the court that is considering such dispute or to your legal counsel (provided that such counsel agrees not to disclose any such information other than as necessaryto the prosecution or defense of the dispute). 

SECTION 11. Notice. All notices, requests, demands and other communications requiredor permitted to be given under the terms of this Award Agreement shall be in writing and shall be deemed to have been duly given when delivered by hand or overnight courier or three Business Days after they have been mailed by U.S. registered mail,return receipt requested, postage prepaid, addressed to the other party as set forth below: 

If to the Company:    DreamWorks Animation SKG, Inc. 

                                    1000 Flower Street

                                    Glendale, CA 91201

                                    Attention: GeneralCounsel 

                                    Telecopy :

If to you:                    «First» «Last» 

                                    «Street»«Unit» 

                                    «City»,«State» «Postal_Code» 

The parties may change the address to which notices under this Award Agreement shall be sent by providingwritten notice to the other in the manner specified above. 

SECTION 12. Headings. Headings are given to the Sections and subsectionsof this Award Agreement solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Award Agreement or any provision thereof. 

SECTION 13. Amendment of this Award Agreement. The Committee may waive any conditions or rights under, amend any terms of, or alter, suspend,discontinue, cancel or terminate this Award Agreement prospectively or retroactively; provided, however, that, except as set forth in Section 14(d) of this Award Agreement, any such waiver, amendment, alteration, suspension,discontinuance, cancellation or termination that would materially and adversely impair your rights under this Award Agreement shall not to that extent be effective without your consent (it being understood, notwithstanding the foregoing proviso,that this Award Agreement and the Restricted Shares shall be subject to the provisions of Section 7(c) of the Plan). 

 

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**[FORM OF RESTRICTED SHARE AWARD AGREEMENT (TIME VESTED)]**

 

SECTION 14. Section 409A. (a) It is intended that theprovisions of this Award Agreement comply with Section 409A, and all provisions of this Award Agreement shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A.

(b) Neither you nor any of your creditors or beneficiaries shall have the right to subject any deferred compensation (within the meaningof Section 409A) payable under this Award Agreement to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section 409A, any deferred compensation (within themeaning of Section 409A) payable to you or for your benefit under this Award Agreement may not be reduced by, or offset against, any amount owing by you to the Company or any of its Affiliates. 

(c) If, at the time of your separation from service (within the meaning of Section 409A), (i) you shall be a specified employee (within themeaning of Section 409A and using the identification methodology selected by the Company from time to time) and (ii) the Company shall make a good faith determination that an amount payable hereunder constitutes deferred compensation(within the meaning of Section 409A) the payment of which is required to be delayed pursuant to the six-month delay rule set forth in Section 409A in order to avoid taxes or penalties under Section 409A, then the Company shall not paysuch amount on the otherwise scheduled payment date but shall instead pay it, without interest (except as otherwise provided in your Employment Agreement), on the first business day after such six-month period. 

(d) Notwithstanding any provision of this Award Agreement to the contrary, in light of the uncertainty with respect to the proper application ofSection 409A, the Company reserves the right to make amendments to this Award Agreement as the Company deems necessary or desirable to avoid the imposition of taxes or penalties under Section 409A. In any case, you shall be solelyresponsible and liable for the satisfaction of all taxes and penalties that may be imposed on you or for your account in connection with this Award Agreement (including any taxes and penalties under Section 409A), and neither the Company norany of its Affiliates shall have any obligation to indemnify or otherwise hold you harmless from any or all of such taxes or penalties. 

SECTION 15. Counterparts. This Award Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

IN WITNESS WHEREOF, the parties have duly executed this Award Agreement as of the date first written above. 

 

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**[FORM OF RESTRICTED SHARE AWARD AGREEMENT (TIME VESTED)]**

 
DREAMWORKS ANIMATION SKG, INC.,by   Name: Title:**«First» «Last»**  
 

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