Document:

QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 10.25    
    

 
 

2005 PANAMSAT CORPORATION SEVERANCE PAY PLAN
    
  (Effective August 24, 2005)
    
SECTION 1

   
INTRODUCTION    
    

        1.1.    Effective Date and Purpose.    PanAmSat Corporation, a Delaware corporation, has established this 2005
PanAmSat Corporation Severance Pay Plan (the "Plan"), effective as of August 24, 2005 (the "Effective Date"). The purpose of the Plan is to
provide severance pay to eligible employees of PanAmSat Corporation and its subsidiaries (collectively, "PanAmSat" or the
"Employer") upon separation of employment under certain circumstances as described in Section 3.1 below. 

        1.2.    Funding Medium.    All payments under the Plan shall be made solely from the general assets of PanAmSat. No
Participant who becomes eligible to receive payments under the Plan shall have a claim against any specific assets of PanAmSat and such Participant shall only be a general unsecured creditor of
PanAmSat. 

        1.3.    Plan Year.    The Plan Year of the Plan shall be the calendar year. 

 
 

SECTION 2
  
  PLAN PARTICIPATION    
    

        2.1.    Eligibility for Participation.    Subject to the conditions and limitations of the Plan, each regular
full-time hourly or salaried employee of PanAmSat shall become a participant ("Participant") in the Plan as of the Effective Date of the
Plan, or on any subsequent date on which such employee first becomes a regular full-time hourly or salaried employee of PanAmSat; provided
that an employee who is collecting workers' compensation benefits, or on short-term disability, long-term disability or other leave of absence shall not be a Participant in the
Plan. If a Participant retires or resigns, is terminated for Cause (as defined in Section 3.3 below), dies or becomes Disabled (as defined in the PanAmSat Long-Term Disability
Plan), such individual shall no longer be eligible to participate in the Plan and shall forfeit any right to receive any payments under the Plan. 

        2.2.    No Employment Guarantee.    The Plan does not constitute a contract of employment and participation in the
Plan does not and shall not give any individual the right to be retained in the employ of PanAmSat, or any right or claim to any benefit under the Plan, unless and except to the extent that such right
or claim is specifically provided for under the terms of the Plan. 

 
 

SECTION 3
    
  SEVERANCE BENEFITS    
    

        3.1.    Eligibility for Severance Benefit.    A Terminated Employee (as defined herein) who has signed and delivered
to the Employer a release of all claims which the employee may have by reason of the employee's employment with the Employer or the termination thereof in the form approved, from time to time, by
PanAmSat (the "Waiver and Release") shall be eligible to receive from the Employer the Severance Benefit described in Section 3.2. For purposes
of the Plan, a "Terminated Employee" is a Participant whose employment with PanAmSat is terminated other than (i) by the Employer for Cause, or
(ii) as a result of the Participant's resignation, retirement, death or such Participant becoming 

 

Disabled.
A Participant is not entitled to receive any Severance Benefit or other assistance under this Plan: 

	(a)
	if
such Participant's termination and/or layoff occurs as a result of the divestiture of a product line, subsidiary, division, or other operating unit of the Employer if the employee
is offered employment with the acquiring entity; or

	(b)
	if
such Participant's termination and/or layoff occurs as a result of the transfer of service by the Employer to a subcontractor if, after receiving notice from the Employer, such
Participant is offered employment with or is hired by the subcontractor, or fails to timely apply for and acknowledge acceptance of employment with the subcontractor, and therefore, is not hired by
the subcontractor. 

        3.2.    Severance Benefit.    (a) The Severance Benefit payable to a Terminated Employee shall be paid by
PanAmSat as soon as practicable following the later of the date on which a Waiver and Release is executed and returned to PanAmSat by such Terminated Employee or becomes effective under applicable
law, in the form of either, at PanAmSat's sole discretion, (y) a single lump sum payment, or (z) installment payments payable in accordance with PanAmSat's payroll practices. The
Severance Benefit payable to a Terminated Employee shall be equal to: 

	(i)
	for
a Terminated Employee with less than or equal to five "Years of Service" (as defined below), the applicable
"Base Amount" (as defined below) plus one "Week of Compensation" (as defined below) for each full Year
of Service; or

	(ii)
	for
a Terminated Employee with greater than five Years of Service, the amount in clause (i) above, plus two Weeks of Compensation for each full Year of Service greater than
five years; provided that the Severance Benefit may not exceed the "Maximum Amount" specified below for such Terminated Employee. 

The
applicable Base Amount and Maximum Amount for the Severance Benefit are based on the Terminated Employee's "Market Reference Point" (as defined
below) as follows: 

	Market Reference Point (MRP)
	 	Base Amount
	 	Maximum Amount

	40	 	12 weeks	 	52 weeks
	36–39	 	8 weeks	 	40 weeks
	29–35	 	6 weeks	 	32 weeks
	H–Q	 	4 weeks	 	29 weeks

By
way of example, the following table sets forth the Severance Benefit (in Weeks of Compensation) for Terminated Employees based on Market Reference Point and Years of Service (up to eleven years): 

	 
	 	 
	 	Years of Service
 

	 
	 	Base Amount

	MRP
	 	1
	 	2
	 	3
	 	4
	 	5
	 	6
	 	7
	 	8
	 	9
	 	10
	 	11
	 	Max

	40 (VP)	 	12	 	13	 	14	 	15	 	16	 	17	 	19	 	21	 	23	 	25	 	27	 	29	 	52
	36–39 (Exempt/Mgmt.)	 	8	 	9	 	10	 	11	 	12	 	13	 	15	 	17	 	19	 	21	 	23	 	25	 	40
	29–35 (Exempt other)	 	6	 	7	 	8	 	9	 	10	 	11	 	13	 	15	 	17	 	19	 	21	 	23	 	32
	H-Q (Non-Exempt)	 	4	 	5	 	6	 	7	 	8	 	9	 	11	 	13	 	15	 	17	 	19	 	21	 	29

For purposes of this Section 3.2, the following defined terms shall have the meaning set forth below: 

        "Market
Reference Point" shall be the level of compensation at the time of termination notice. 

        "Severance
Period" shall, for each Terminated Employee, be equal to the sum of: (i) a Terminated Employee's Base Amount, plus
(ii) such Terminated Employee's applicable number of Weeks of Compensation, up to the Maximum Amount, if any, applicable to such Terminated Employee. 

2

 

        "Week
of Compensation" shall be equal to the Terminated Employees "regular weekly gross rate of compensation." If a Terminated Employee was paid on an hourly basis, then his "regular
weekly gross rate of compensation" shall be equal to the product of his regular hourly rate of compensation on the date of the termination of employment, multiplied by the number of regularly
scheduled weekly hours of work. If a Terminated Employee was salaried, then his or her "regular weekly gross rate of compensation" shall be his or her weekly gross base salary. 

        "Years
of Service" shall be the number of whole years elapsed during a Terminated Employee's most recent period of continuous full-time employment by PanAmSat and/or any of
its subsidiaries; provided, that if immediately preceding a Terminated Employee's most recent period of continuous employment with PanAmSat and/or any
of its subsidiaries, such terminated employee was employed by Hughes Electronics Corporation or one of its majority owned subsidiaries (collectively with Hughes Electronics Corporation, the "Hughes
Entities"), then such Terminated Employee's most recent period of continuous employement shall also include his or her period of continuous employment with the Hughes Entities ending on the date that
such Terminated Employee began employment with PanAmSat or its subsidiaries. 

	(b)
	In
addition, a Terminated Employee shall be entitled to continue to participate in the PanAmSat group health, dental and life insurance plans (each, a "Welfare
Benefit Plan") that PanAmSat provides (and continunes to provide) generally to its employees, on the same terms as available to its employees, to the extent such Terminated
Employee is entitled to continue to participate in such plans under the terms thereof, until the earlier of (i) the expiration of the Severance Period or (ii) the date the Terminated
Employee becomes covered by a Welfare Benefit Plan(s) maintained by another employer. 

        3.3.    Cause Defined.    For purposes of this Section 3, an employee shall be considered to have been
terminated for "Cause" if such employee's employment with PanAmSat is terminated by PanAmSat due to theft or other misconduct, negligence, commission of
a crime, failure to follow the instructions of a supervisor, or other violation of the written or oral employment policies of PanAmSat. 

        3.4    Rehire of Plan Participants and Employment Restriction.    

(i)    If
a Terminated Employee is offered and accepts employment with PanAmSat or its successor within the Severance Period, the Severance Benefit payments will cease as of the date of
rehire and such Terminated Employee shall not be entitled to any further payments of such Severance Benefit. If some or all of the Severance Benefit was paid in a lump sum amount, such employee shall
be required to repay to PanAmSat or its successor (whichever has then hired such employee) the total amount of such Severance Benefits received under the Plan for the period from the date of rehire to
the date of what would have been the end of his/her Severance Period. Repayment must be made by lump sum, by certified or cashier's check, prior to the effective date of rehire. If such employee can
demonstrate financial hardship, as determined solely by the plan administrator specified in Section 4.1, repayment may be made in installments, through payroll deductions, for up to six
(6) months. 

(ii)    If
a Terminated Employee was laid off with Severance Benefits under the Plan and is subsequently rehired and laid off again within 12 months from the previous layoff date,
such employee may receive a partial Severance Benefit under the Plan equal to the amount of Severance Benefit to which he or she is at that time entitled minus the amount of Severance Benefit that was
previously received and retained. Except with respect to benefits provided under Appendix A, after one year has elapsed from the previous layoff date, Plan eligibility is restored and the
employee may again receive full severance Plan benefits if the Employer again lays off the employee. 

(iii)    Unless
a Terminated Employee who has received a Severance Benefit under the Plan repays the severance benefit as described above, such Terminated Employee will not be 

3

 

allowed
to work in any capacity (e.g., contract or subcontract labor or consultant status) for PanAmSat or its successor within the Severance Period. 

 
 

SECTION 4
  
  ADMINISTRATION OF THE PLAN    
    

        4.1.    Administration.    The Plan shall be interpreted, administered and operated by the Chief Executive Officer of
PanAmSat, (the "CEO") who shall have complete authority, in his sole discretion subject to the express provisions of the Plan, to determine who shall be
eligible for payments under the Plan, to interpret the Plan, to prescribe, amend and rescind rules and regulations relating to the Plan, and to make all other determinations (including, without
limitation, determinations of fact) necessary or advisable for the administration of the Plan. 

        4.2    Delegation.    The CEO may delegate any of his duties hereunder to such person or persons from time to time as
he may designate. 

        4.3.    Decision Final.    Any interpretation of the Plan and any decision on any matter within the discretion of the
CEO made by the CEO in good faith shall be final and conclusive, and shall be binding on all persons. All questions of any nature whatsoever arising in connection with the interpretation of the Plan
or its administration or operation shall be submitted to and settled and determined by the CEO in an equitable and fair manner in accordance with the procedure for claims and appeals described in
Section 5. 

 
 

SECTION 5
    
  CLAIMS PROCEDURE    
    

        5.1.    Initial Claim and Decision.    A Terminated Employee or his or her beneficiary (or his or her authorized
representative) may file a written claim for any benefits to which the employee believes he or she is entitled under the Plan. The CEO shall provide the claimant with written notice of his or
her decision on a claim within 30 days after receipt of the written claim, unless special circumstances require an extension of time. The CEO shall provide the claimant with written notice of
any extension before the end of the initial 30 day period which shall indicate the special circumstances requiring the extension and the expected decision date, which may not be more than
60 days after receipt of a written claim. If any claim is wholly or partially denied, then the written notice of the decision shall inform the claimant of: 

	(a)
	the
specific reasons for the denial;

	(b)
	the
specific provisions of the Plan upon which the denial is based;

	(c)
	any
additional material or information necessary to perfect the claim and reasons why such material or information is necessary; and

	(d)
	the
right to request review of the denial and how to request such review. 

If
written notice of the decision is not given to the claimant within the period, including extensions, prescribed above in this Section 5.1, then the claim shall be deemed denied for purposes
of the claimant's right to request a review of the denial pursuant to Section 5.2 

        5.2.    Request For Review of Denied Claim.    The claimant or his or her authorized representative may request review
of the denial of a claim within 60 days after receipt of written notice of the denial of all or a portion of the claim by a writing filed with the CEO. Written issues and comments may be
submitted to the CEO along with the review request. During the 60 day period following notice of the denial, the claimant or his or her authorized representative may examine the Plan and any
other document upon which the denial is based free of charge.; provided, however, that notwithstanding the foregoing, such claimant shall bear, and the
Employer shall not be responsible for, any and all expenses of the claimant and of his or her authorized representatives. 

4

  

        5.3.    Review of Denied Claim.    Upon receipt of a request to review its denial of a claim, the CEO shall
undertake
a full and fair review of the denial, including review that takes into account all comments and information submitted in writing by the claimant and, except as provided below, provide the claimant
with written notice of its decision within 10 days after receipt of the review request unless special circumstances require an extension of time. The CEO shall provide the claimant with written
notice of any extension before the end of the regular review period which shall indicate the special circumstances requiring the extension and the expected decision date, which may not be more than
20 days after receipt of a review request. The written notice of the decision shall inform the claimant of the specific reasons for the decision and the specific provisions of the Plan upon
which the decision is based. If written notice of the decision is not given to the claimant within the period, including extensions, prescribed above in this Section 5.3, then the claim shall
be deemed denied on review. Except as may be otherwise required by law, the decision of the CEO on review of the denial shall be conclusive and binding on all parties. 

        5.4    Exhaustion of Administrative Remedies.    No legal or equitable action for benefits under the Plan may be
brought by a Participant unless the claimant has sought review of his claim under both sections 5.1 and 5.2 and has been notified in writing under Section 5.3 that his claim has been denied. 

 
 

SECTION 6
  
  GENERAL PROVISIONS    
    

        6.1.    Reemployment of Participant.    Unless otherwise determined by the CEO in his or her sole discretion, if the
employment of an employee with the Employer terminates and the employee is subsequently reemployeed by PanAmSat, then he shall be treated as a Participant effective as of the date of such
reemployment. 

        6.2.    Death of a Terminated Employee.    If a Terminated Employee dies prior to his receipt of any amount payable to
him under the Plan, then such amount shall be paid to the Terminated Employee's designated beneficiary (to the extent permitted by applicable state law) or his or her estate. 

        6.3.    Benefits May Not Be Assigned or Alienated.    The rights or interests of any Participant under the Plan may
not be voluntarily or involuntarily assigned or alienated. 

        6.4.    Binding on Successors.    The provisions of the Plan shall be binding upon and shall inure to the benefit of
PanAmSat, and the participants, and their respective successors in interest and assigns. Except as may otherwise be determined by a resolution of the Board of Directors of PanAmSat, PanAmSat shall
require any person or entity that becomes a "successor in interest" (as defined below) to PanAmSat to expressly assume the Plan and agree to perform all of the obligations of PanAmSat under the Plan
for a period of three years following the date of such transaction(s). For purposes of this Section 6.4, a "successor in interest" to PanAmSat shall include any person or entity (or group of
related or affiliated persons or entities) that acquires (in a single transaction or a series of related transactions) any businesses or assets of PanAmSat representing twenty-five percent
(25%) or more of PanAmSat's sales, operating profits, or operating assets. 

        6.5.    Gender and Number.    Where the context admits, words in any gender shall include any other gender, words in
the singular shall include the plural, and words in the plural shall include the singular. 

        6.6.    Governing Law.    The Plan shall be governed by, and construed in accordance with, the laws of the State of
New York (without regard to principles of conflicts of law). 

        6.7.    Participant Elections and Notices.    Any election or notice required or permitted to be made by a Participant
must be made in writing and filed with the CEO at such time and in such form as the CEO requires, except as otherwise specifically provided in the Plan. Any election, notice, or other document
required to be filed with the CEO shall be properly filed if delivered or if mailed postage 

5

 

prepaid
by certified mail, return receipt requested, to the attention of the CEO, at the business address of PanAmSat's office headquarters. Any notice required under the Plan may be waived by the
person entitled to such notice. 

        6.8    Withholding.    The Employer shall withhold any applicable federal, state or local income and employment taxes
from any payments made under the Plan. 

        6.9    ERISA Plan.    It is the intent of PanAmSat that the Plan constitute an "employee welfare benefit plan" within
the meaning of Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), and comply with the applicable requirements of ERISA. 

        6.10    Termination of Prior Agreements and Understandings.    As of the Effective Date, the Plan supersedes and
replaces each written or oral plan, agreement and understanding concerning a Participant's right to receive severance or similar payments from PanAmSat;  provided, however, that this Plan shall not supersede or replace any of the following agreements or
plans existing on the Effective Date: the PanAmSat Executive Change in Control Severance Agreements between PanAmSat and the executives party thereto, the employment agreement between PanAmSat and the
CEO, the November 8, 2001 agreement between PanAmSat and its current Chief Operating Officer, and the PanAmSat Corporation Severance Pay Plan effective as of April 30, 2003 (the "2003
Plan"); provided, that with respect to the 2003 Plan, a Participant who is also a Participant in the 2003 Plan shall only be entitled to receive benefits equal to the greater of benefits available to
the Participant under this Plan and benefits available to the Participant under the 2003 Plan; in no event shall this Plan function to provide any duplication of severance benefits. 

 
 

SECTION 7
  
  AMENDMENT AND TERMINATION    
    

        7.1.    Amendment and Termination.    Subject to the provisions of Section 7.2, PanAmSat, through its Board of
Directors, reserves the right to amend the Plan from time to time and reserves the right to terminate the Plan at any time without prior notice. 

        7.2.    Limitations on Amendment and Termination.    Notwithstanding the provisions of Section 7.1, except as
may otherwise be determined by a resolution of the Board of Directors of PanAmSat, the Plan shall not be terminated with respect to any Terminated Employee (or their beneficiaries) and no amendment
shall be made to the Plan that is adverse to the interests of any Terminated Employee (or their beneficiaries). Except as otherwise required by law, in no event may this Plan be terminated or modified
to reduce any benefit or to make any condition more restrictive as it applies to the Special Severance Benefit described in Appendix A hereto as it applies to Participants, following a "Change
of Control" (as defined below) with respect to Participants at the time of the occurrence of such "Change of Control." For purposes of the Plan, a "Change of Control" means the effective date, in one
or a series of transactions, of (i) the sale of all or substantially all of the assets of PanAmSat or PanAmSat Holding Corporation to an Unaffiliated Person; (ii) a sale resulting in
more than 50% of the voting stock of PanAmSat or PanAmSat Holding Corporation being held by an Unaffiliated Person; or (iii) a merger, consolidation, recapitalization or reorganization of
PanAmSat or PanAmSat Holding Corporation with or into another Unaffiliated Person; if and only if any such event listed in clauses (i) through
(iii) above results in the inability of the Investors, or any member or members of the Investors, to designate or elect a majority of the board of directors of PanAmSat or PanAmSat Holding
Corporation (or the board of directors of the resulting entity or its parent company). For purposes of this definition, the term "Unaffiliated Person" means any Person or Group who is not
(x) an Investor or any member of the Investors, (y) an "affiliate" (as defined in Rule 405 of the Securities Act of 1933) of any Investor or any member of any Investor, or
(z) an entity in which any Investor, or any member of any Investor holds, directly or indirectly, a majority of the economic interests in such entity; the term 

6

 

"Investors"
means Constellation, LLC, a Delaware limited liability company, Carlyle PanAmSat I, L.L.C., a Delaware limited liability company, Carlyle PanAmSat II, L.L.C., a Delaware limited liability
company, PEP PAS, LLC, a Delaware limited liability company, and PEOP PAS, LLC, a Delaware limited liability company; the Term "Person" means "person" as such term is used for purposes of
Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended; and the term "Group" means "group" as such term is used for purposes of Section 13(d) or 14(d) of the
Securities Exchange Act of 1934, as amended. 

        IN
WITNESS WHEREOF, the CEO of PanAmSat has executed this Plan, as of the Effective Date, to evidence his approval of the provisions of the Plan. 

	 	 	PANAMSAT CORPORATION
	    	 	 	 	 
	 	 	By:	 	/s/  JOSEPH R. WRIGHT, Jr.      
	 	 	 	 	
 Chief Executive Officer
	ATTEST:	 	 	 	 
	    	 	 	 	 
	/s/  JAMES W. CUMINALE      
 Its Secretary	 	 	 	 

7

  

 
 

APPENDIX A
  SPECIAL SEVERANCE APPENDIX    
    

        This Appendix A—Special Severance Appendix—to the PanAmSat Corporation Severance Pay Plan (the
"Plan") is adopted for eligible employees of PanAmSat Corporation, a Delaware corporation, and its subsidiaries (collectively,
"PanAmSat" or the "Employer"). The term "Employer" shall also include any successor entity to PanAmSat.
Capitalized terms used in this Appendix A and not described herein shall have the meaning set forth in the Plan. 

        The
intent of this Appendix A is to provide eligible employees with a "Special Severance Benefit" (determined in accordance with Article 2 below) that is equal to or
greater than the standard Severance Benefit if the employee's employment is terminated as the result of a Change of Control in accordance with this Appendix A. In addition, prior to termination
of this Appendix A, as determined by the Chairman of the Board of PanAmSat, this Plan may be utilized in other circumstances involving the layoff of domestic employees of PanAmSat. 

	1.
	ELIGIBILITY
AND PARTICIPATION

	A.
	Except
as set forth in this Appendix A, eligibility for Special Severance Benefits shall be the same as set forth in Sections 2.1 and 3.1 of the Plan.

	B.
	An
eligible employee will receive payment of the Special Severance Benefit upon the occurrence during the period that this Appendix A is in effect (the
"Term") of both of the following events: (a) a "Change of Control" (as defined in the Plan) and (b) a layoff of such employee or other
termination of employment by PanAmSat other than for Cause or an eligible employee's resignation for "Good Reason" (as defined below) by such employee, in either case due to, and within eighteen
(18) months following, the Change of Control.

	(1.)
	"Good
Reason" means that either of the following events occurs within eighteen (18) months following a Change of Control:

	(a)
	A
reduction of 10% or more in total compensation (which excludes overtime pay employee benefits, but includes base salary and incentive compensation targets for the PanAmSat
Corporation Annual Incentive Plan ("AIP"), Sales Incentive Plan ("SIP"), or an alternative incentive plan offered in lieu of AIP or SIP), or

	(b)
	An
increase in commute in excess of 50 miles (as compared with the employee's current commute), unless PanAmSat or its successor company offers the employee a relocation package that
is at least equal (in monetary value) to the relocation package he or she would have received under the PanAmSat relocation policy in effect immediately prior to the Change of Control.

	(2.)
	Determination
of whether a layoff occurs as a result of a Change of Control shall be made in the sole discretion of the CEO.

	2.
	AMOUNT
OF THE SPECIAL SEVERANCE BENEFIT

	A.
	Subject
to 2.B and 2.C below, an employee eligible for a Special Severance Benefit under this Appendix A will receive payment of a Special Severance Benefit equal to one week of
his or her weekly base salary for each Three Thousand Dollars ($3,000) increment of his or her annual base salary. An eligible employee will not receive any Special Severance Benefit for any portion
of his or her annual base salary that is less than the Three Thousand Dollars ($3,000) increment. 

8

 

	B.
	The
minimum Special Severance Benefit that is payable to an eligible employee under this Appendix A will be equal to the greater of:

	(1)
	twenty-six
(26) weeks of such employee's base salary; or

	(2)
	the
Severance Benefit to which such employee would be entitled under Section 3.2(a) of the Plan.

	C.
	The
maximum Special Severance Benefit that is payable to an eligible employee under this Appendix A is fifty-two (52) weeks multiplied by an eligible
employee's weekly base salary.

	D.
	In
addition, an eligible employee shall be entitled to continue to participate in the Welfare Benefit Plans in accordance with Section 3.2(b) of the Plan; provided that such
participation shall not continue longer than three (3) months from the date of such employee's layoff or resignation for Good Reason.

	E.
	Except
as provided in this Appendix A, the provisions of Section 3.4 shall apply to the Special Severance Benefit. An employee is eligible to receive a Special Severance
Benefit under this Appendix A only once. However, a rehired employee who (if and to the full extent required under Section 3.4(a) of the Plan) repays some or all of the Special Severance
Benefit payment, and is subsequently laid off due to a Change in Control within the effective period of the Plan, may, if otherwise eligible, receive the Special Severance benefit, less any portion of
his/her prior Special Severance payment that was received and retained.

	F.
	Special
Severance Benefits paid under this Appendix A will be subject to withholding of applicable income and employment taxes and may be reduced by any applicable withholdings,
such as wage attachments, child support and bankruptcy deductions. Payments under this Appendix A are not deemed "compensation" for purposes of the PanAmSat Retirement Savings Plan, the AIP,
the SIP or any alternative incentive plan offered in lieu of AIP or SIP. Accordingly, no deductions will be taken for the PanAmSat Retirement Savings Plan.

	3.
	RELATIONSHIP
OF APPENDIX A TO PLAN

	A.
	If
an employee receives a Special Severance Benefit under this Appendix A, he or she is not entitled to receive any additional Severance Benefit payments under Section 3
of the Plan.

	B.
	Except
as set forth under this Appendix A, all of the terms and conditions of the Plan are applicable to this Appendix A and are incorporated herein as though fully set
forth herein.

	4.
	TERMINATION
OF THIS APPENDIX A 

Unless
extended by the Employer (by action of the Board of Directors or its Compensation Committee) in its sole discretion, this Appendix A shall terminate automatically two years after the
Effective Date, in the event a Change of Control is not consummated by such time. Otherwise, this Appendix A shall terminate two years after a Change of Control is consummated, unless extended
by the Employer (by action of the Board of Directors or its Compensation Committee) in its sole discretion. 

9

QuickLinks

Exhibit 10.25

2005 PANAMSAT CORPORATION SEVERANCE PAY PLAN (Effective August 24, 2005) SECTION 1 INTRODUCTION

SECTION 2 PLAN PARTICIPATION

SECTION 3 SEVERANCE BENEFITS

SECTION 4 ADMINISTRATION OF THE PLAN

SECTION 5 CLAIMS PROCEDURE

SECTION 6 GENERAL PROVISIONS

SECTION 7 AMENDMENT AND TERMINATION

APPENDIX A SPECIAL SEVERANCE APPENDIXQuickLinks
 -- Click here to rapidly navigate through this document

Exhibit 10.52  

 
 

FIRST AMENDMENT TO
  HUGHES ELECTRONICS CORPORATION
  EXECUTIVE DEFERRED COMPENSATION PLAN    
    

        THIS FIRST AMENDMENT TO THE AMENDED AND RESTATED HUGHES ELECTRONICS CORPORATION EXECUTIVE DEFERRED COMPENSATION PLAN dated as of December 22, 2003, is made
and adopted by The DIRECTV Group ("DIRECTV"). Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to them in the Hughes Electronics Corporation
Executive Deferred Compensation Plan (the "Plan"). 

        WHEREAS,
The DIRECTV Group, the renamed Hughes Electronics Corporation, a Delaware corporation, maintains the Plan; 

        WHEREAS,
pursuant to Section 11 of the Plan, DIRECTV may amend the Plan from time to time; 

        WHEREAS,
DIRECTV desires to amend the Plan as set forth herein; and 

        WHEREAS,
this First Amendment was adopted by the Compensation Committee of the DIRECTV Board of Directors on November 2, 2005, effective as of January 1, 2005. 

        NOW,
THEREFORE, in consideration of the foregoing, the Plan is hereby amended as follows: Section 3.3(e) of the Plan is hereby established as follows: 

        1.     Section 3.3(e)
of the Plan is hereby established as follows: 

        "Cancellation of 2005 Deferral Elections.    With respect to any Participant whose separation from
service with the Company occurs in 2005 and who is an officer of the Company with the title of Senior Vice
President or higher, the Company may cancel Plan participation as to any amounts of elective and/or non elective deferred compensation that are deferred in 2005 by or on behalf of such Participant and
that are subject to Code Section 409A, provided that the amounts that are subject to such cancellation are includable in the income of the Participant in the 2005 taxable year." 

        2.     This
First Amendment shall be and is hereby incorporated in and forms a part of the Plan. 

        3.     All
other terms and provisions of the Plan shall remain unchanged except as specifically modified herein. 

        I
hereby certify that the foregoing First Amendment to the Hughes Electronics Corporation Executive Deferred Compensation Plan was duly adopted by The DIRECTV Group on November 2,
2005. 

        Executed
on this    day of November 2005. 

	 	 	/s/  LARRY D. HUNTER      
 Larry D. Hunter, Corporate Secretary

QuickLinks

FIRST AMENDMENT TO HUGHES ELECTRONICS CORPORATION EXECUTIVE DEFERRED COMPENSATION PLAN

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]