Document:

Exhibit 10.3

As of January 1, 2007

Mr. Larry Hunter

Dear Larry:

This letter agreement (“Agreement”) provides the terms of your
employment with The DIRECTV Group, Inc. (the “Company”) and replaces the letter
agreement between us dated as of January 1, 2004 (the “Prior Agreement”).

1.                           (a) The Company hereby employs you for a
period of three years commencing as of the date hereof and ending on December
31, 2009 (the “Term”).

(b)
If you continue in the employ of the Company after the end of the Term and an
extension of your employment has not been negotiated, your employment shall be
on an at-will basis at the weekly salary rate paid during your last regular pay
period hereunder and shall otherwise be in accordance with this Agreement and the
provisions of such policies of the Company as are then in effect for comparable
executives of the Company.

2.                           (a) For your services hereunder the Company
will, on regular pay dates as then in effect under applicable Company policy,
pay you a base salary at the rate of $750,000 per annum, subject to annual
increase generally commensurate with other senior executives of the Company,
with the actual salary increase for any year to be subject to the approval of
the Compensation Committee of the Board of Directors of the Company (“Committee”)
if required under applicable Company policies.

(b) Subject to approval by
the Committee if required under applicable Company policies, for each calendar
year during the Term, (i) an annual target cash bonus (“Target Bonus”), set as
a percentage of your then current salary, will be established and provided to
you in writing prior to the end of the first quarter of such year, and (ii) you
shall receive at the time annual bonuses are paid for the prior year pursuant
to applicable Company policy, payment of your annual cash bonus based on your
Target Bonus for such prior year and your achievement of certain targets
established by the Chief Executive Officer of the Company.  The Target Bonus shall be appropriate to your
position in the Company and generally commensurate with the target bonus of
other senior executives of the Company, taking into account your role in the
Company as compared to such other senior executives.

(c) Subject to approval by the
Committee if required under applicable Company policies, you shall also receive
equity compensation, (e.g., options or restricted stock units) appropriate to
your position in the Company and generally commensurate with grants to other
senior executives of the Company, taking into account your role in the Company
as compared to

2230
East Imperial Hwy EI Segundo, CA 90246 Phone 310.535.5000

A Unit of The DIRECTV Group, Inc.

such other senior
executives.  In any event, under current
circumstances, your annual grant of equity compensation is expected to have a
fair market value at least equal to your base salary.

(d) You shall receive
vacation and other perquisites and all other benefits generally commensurate
with comparable executives of the Company.

3.                           (a) You shall serve as Executive Vice
President Legal and Human Resources, and General Counsel, reporting directly to
the President and Chief Executive Officer of the Company.

(b) If you are elected a
member of the Board of Directors or to any other office of the Company or any
of its affiliates, you agree to serve in such capacity or capacities without
additional compensation, unless additional compensation or benefits are paid to
comparable executives.

(c) You hereby accept such
employment and agree to devote your full time and attention as necessary to
fulfill all of the duties of your employment hereunder.

4.                         (a) Notwithstanding anything to the contrary
contained in paragraph 1 (a) above, this Agreement may be terminated by the
Company for cause if:

(i)                                  you are convicted of, or plead guilty or nolo
contendere to a felony;

(ii)                               you engage in conduct that constitutes
continued willful neglect or willful misconduct in carrying out your duties
under this Agreement, resulting, in either case, in economic harm to or damage
to the reputation of the Company or any of its affiliates; or

(iii)                            you breach any material affirmative or
negative covenant or undertaking hereunder, which breach is not substantially
cured within fifteen days after written notice to you specifying such breach.

If you are terminated for
cause, you shall be entitled only to payment of your base salary and accrued
vacation pay (if any) through the date of termination of your employment for
cause.

(b) If your employment is
terminated due to death, your estate or beneficiaries, as the case may be,
shall be entitled to:

(i)                                  payment of base salary through the date of
termination;

(ii)                               payment of the pro-rated portion of the
annual bonus that you received for the fiscal year immediately preceding the date
of termination; and

(iii)                            other or additional benefits in accordance
with applicable plans and programs of the Company.

(c) If your employment is
terminated due to disability (as defined below), you shall be entitled to the
following (but in no event less than the benefits due to you under the then

current disability program
of the Company):

(i)                                  payment of base salary through the date of
termination;

(ii)                               payment of the pro-rated portion of the
annual bonus that you received for the fiscal year immediately preceding the
date of termination;

(iii)                            until the earlier of the end of such
disability and the end of the Term, continued participation in medical, dental,
hospitalization and life insurance coverage and in all other employee plans and
programs in which you were participating on the date of termination; and

(iv)                           other or additional benefits in accordance
with applicable plans and programs of the Company.

For purposes of this
Agreement, “disability” shall mean your inability to substantially perform your
duties and responsibilities under this Agreement for a period of 120
consecutive days.

(d) If the Company
terminates your employment for any reason other than those defined in
paragraphs 4 (a), (b) or (c) above, or if you terminate your employment by reason
of the Company’s breach of paragraph 3 (a) above, then you shall be entitled
to:

(i)                                  payment of your then current base salary through
the date of termination;

(ii)                               payment of your pro-rated Target Bonus for
the calendar year in which your employment is terminated;

(iii)                               payment of an amount equal to one (1) times
your then current base salary and Target Bonus, if your employment is
terminated under this paragraph 4(d) at any time prior to the expiration of the
Term;

(iv)                              vesting of equity awards as if you had
remained employed through the end of the calendar year in which your employment
is terminated or, if your employment is terminated in December of a year, for
one additional calendar year, subject to the other terms and conditions of the
applicable equity awards; and

(v)                                 continued participation in Company-sponsored
medical plans in which you were participating on the date of termination,
through either (a) the longer of the end of the Term or 12 months from the date
of termination of your employment, or (b) until you receive coverage through
another employer, whichever first occurs.

Any adverse change in the
scope of your job responsibilities or reporting relationship, in any case
without your consent, shall be deemed a constructive termination of your
employment by the Company for purposes of, and upon such termination of
employment (by you or by the Company) you shall be entitled to,

the payments and benefits
provided for above.  All payments under
this paragraph 4(d) shall be conditioned upon your execution of a release
agreement in the Company’s customary form or otherwise acceptable to the
Company.

(e) Notwithstanding anything in this
Agreement to the contrary, in the event that the Company adopts a severance
plan applicable to comparable executives which provides for payments or
benefits which are more favorable to executives than the provisions of this
Agreement, then you shall automatically be entitled to such more favorable
payments or benefits, subject to the terms and conditions of such plan, unless
you otherwise agree in writing after adoption of any such plan.

5.
                        (a) You have previously received a copy of
the Company’s Code of Ethics and Business Conduct.  You agree to abide by the provisions of this Code
(as amended and posted on the Company’s website from time to time) at all times
during your employment by the Company.

(b) During the term of your
employment and for a period of one year thereafter, you will not, directly or
indirectly, (i) induce or attempt to induce any managerial, legal, human
resources, sales or supervising employee of the Company or its affiliates to
render services to any other person, firm or corporation, and (ii) engage in
any business which competes with the Company or any of its affiliates and will
not directly or indirectly own, manage, operate, join, control or participate
in the ownership, management, operation or control of, or be employed by, or
connected in any manner with any corporation, firm or business that is so
engaged.  The foregoing does not prohibit
you from owning less than five percent (5%) of the outstanding common stock of
any company whose shares are publicly traded.

In consideration of the
foregoing agreements, and in addition to any severance benefits provided to you
under this Agreement, if your employment is terminated by the Company for any
reason other than those defined in paragraphs 4(a), (b) or (c) above, or if you
terminate your employment, whether during or after expiration of the Term, the
Company shall pay you an amount equal to the sum of your base salary and Target
Bonus at the date termination of your employment, less applicable tax
withholdings, such payment to be made on the first anniversary after the date
of your employment termination, provided that you have complied with your obligation
set forth above in this paragraph 5(b).

(c) You acknowledge that the
relationship between the parties hereto is exclusively that of employer and
employee and that the Company’s obligations to you are exclusively contractual
in nature.  The Company shall be the sole
owner of all the fruits and proceeds of your services hereunder, including, but
not limited to, all ideas, concepts, formats, suggestions, developments,
arrangements, designs, packages, programs, promotions and other intellectual
properties which you may create in connection with and during your term of your
employment hereunder, free and clear of any claims by you (or anyone claiming
under you) of any kind or character whatsoever (other than your right to
compensation hereunder).  You shall, at
the request of the Company, execute such assignments, certificates or other
instruments as the Company may from time to time deem necessary or desirable to
evidence, establish, maintain, perfect, protect, enforce or defend its right,
title and interest in or to any such properties.

(d) All memoranda, notes,
records and other documents made or compiled by you, or made available to you
during the term of this Agreement concerning the business of the Company or it
affiliates shall be the Company’s property and shall be delivered to the
Company on the termination of this Agreement or at any other time on
request.  You shall keep in confidence
and shall not use for yourself or others, or divulge to others, any information
concerning the business not publicly available and which is obtained by you as
a result of your employment, including but not limited to, trade secrets or
processes and information deemed by the Company to be proprietary in nature,
unless disclosure is permitted by the Company or required by law.

(e) The Company shall have
the right to use your name, biography and likeness in connection with its
business, including in advertising its products and services, and may grant
this right to others, but not for use as a direct endorsement.

(f) The covenants set forth
in sub paragraphs (b), (c) and (d) above shall survive the termination of this
Agreement.

6.                           The services to be furnished by you hereunder
and the rights and privileges granted to the Company by you are of a special,
unique, unusual, extraordinary, and intellectual character which gives them a
peculiar value, the loss of which cannot be reasonably or adequately
compensated in damages in any action or law, and a breach by you of any of the
provisions contained herein will cause the Company irreparable injury and
damage.  You expressly agree that the
Company shall be entitled to seek injunctive and other equitable relief, to
prevent a breach of this Agreement by you. 
Resort to equitable relief however, shall not be construed as a waiver
of any preceding or succeeding breach of the same or any other term or
provision.  The various rights and
remedies of the Company hereunder shall be construed to be cumulative and no
one of them shall be exclusive to any other or of any other or of any right or
remedy allowed by law.

7.                           In consideration of the making of the
Agreement, as well as of the other consideration stated herein, you expressly
agree that (a) the Company’s Employee Statements and Agreements and Mutual
Agreement to Arbitrate Claims (copies of which you have received and which are
incorporated herein by reference) shall apply to this Agreement; and (b) if you
continue in the employ of the Company after the end of the Term, your
employment shall be at-will and shall otherwise be in accordance with the
provisions of this Agreement and such then existing Company policies as may
then be in effect applicable to comparable executives of the Company.

8.                           This Agreement shall be governed by the laws
of the State of New York applicable to contracts performed entirely therein.

9.                         This Agreement shall inure to the benefit of
the successors and general assigns of the Company and to the benefit of any
other corporation or entity which is a parent, subsidiary or affiliate of the
Company to which this Agreement is assigned, and any other corporation or
entity into which the Company may be merged or with which it may be
consolidated.  Except as herein provided,
this Agreement shall be nonassignable.

 

	
  

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
  The DIRECTV Group, Inc.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chase Carey

  	
   

  
	
   

  	
   

  	
  Chase Carey

  
	
   

  	
   

  	
  President and CEO

  
	
   

  
	
  THE FOREGOING IS AGREED
  TO:

  
	
   

  
	
  /s/ Larry Hunter

  	
   

  
	
  Larry Hunter

  
	
   

  
	
  February 8, 2007

  	
   

  
	
  DateExhibit
10.4

As
of January 1, 2007

Mr. Romulo Pontual

Dear Romulo:

This letter agreement (“Agreement”) provides the terms of your
employment with The DIRECTV Group, Inc. (the “Company”) and replaces the letter
agreement between us dated as of January 1, 2004 (the “Prior Agreement”).

1.                           (a) The Company hereby employs you for a
period of three years commencing as of the date hereof and ending on December
31, 2009 (the “Term”).

(b)
If you continue in the employ of the Company after the end of the Term and an
extension of your employment has not been negotiated, your employment shall be
on an at-will basis at the weekly salary rate paid during your last regular pay
period hereunder and shall otherwise be in accordance with this Agreement and the
provisions of such policies of the Company as are then in effect for comparable
executives of the Company.

2.                           (a) For your services hereunder the Company
will, on regular pay dates as then in effect under applicable Company policy,
pay you a base salary at the rate of $800,000 per annum, subject to annual
increase generally commensurate with other senior executives of the Company,
with the actual salary increase for any year to be subject to the approval of
the Compensation Committee of the Board of Directors of the Company (“Committee”)
if required under applicable Company policies.

(b) Subject to approval by
the Committee if required under applicable Company policies, for each calendar
year during the Term, (i) an annual target cash bonus (“Target Bonus”), set as
a percentage of your then current salary, will be established and provided to
you in writing prior to the end of the first quarter of such year, and (ii) you
shall receive at the time annual bonuses are paid for the prior year pursuant
to applicable Company policy, payment of your annual cash bonus based on your
Target Bonus for such prior year and your achievement of certain targets
established by the Chief Executive Officer of the Company.  The Target Bonus shall be appropriate to your
position in the Company and generally commensurate with the target bonus of
other senior executives of the Company, taking into account your role in the
Company as compared to such other senior executives.

(c) Subject to approval by
the Committee if required under applicable Company policies, you shall also
receive equity compensation, (e.g., options or restricted stock units) appropriate
to your position in the Company and generally commensurate with grants to other
senior executives of the Company, taking into account your role in the Company
as compared to

2230
East Imperial Hwy EI Segundo, CA 90246 Phone 310. 535. 5000

A Unit of The Directv Group, Inc.

such other senior
executives.  In any event, under current
circumstances, your annual grant of equity compensation is expected to have a
fair market value at least equal to your base salary.

(d) You shall receive
vacation and other perquisites and all other benefits generally commensurate
with comparable executives of the Company.

3.                           (a) You shall serve as Executive Vice
President and Chief Technology Officer, reporting directly to the President and
Chief Executive Officer of the Company. 
You shall be based in New York, New York, subject to such travel as the
rendering of the services hereunder may require.

(b) If you are elected a
member of the Board of Directors or to any other office of the Company or any
of its affiliates, you agree to serve in such capacity or capacities without
additional compensation, unless additional compensation or benefits are paid to
comparable executives.

(c) You hereby accept such
employment and agree to devote your full time and attention as necessary to
fulfill all of the duties of your employment hereunder.

(d) During the term of your
employment, and for a period of twelve months thereafter, you will not, in any
manner directly or indirectly, engage in any business which competes with the
Company or any of its affiliates and will not directly or indirectly own,
manage, operate, join, control or participate in the ownership, management,
operation or control of, or be employed by, or connected in any manner with any
corporation, firm or business that is so engaged.  The foregoing does not prohibit you from
owning less than five percent (5%) of the outstanding common stock of any
company whose shares are publicly traded.

4.                           (a) Notwithstanding anything to the contrary
contained in paragraph 1 (a) above, this Agreement may be terminated by the
Company for cause if:

(i)            you are convicted of, or plead guilty or nolo
contendere to a felony;

(ii)           you engage in conduct that constitutes
continued willful neglect or willful misconduct in carrying out your duties
under this Agreement, resulting, in either case, in economic harm to or damage
to the reputation of the Company or any of its affiliates; or

(iii)          you breach any material affirmative or
negative covenant or undertaking hereunder, which breach is not substantially
cured within fifteen days after written notice to you specifying such breach.

If you are terminated for
cause, you shall be entitled only to payment of your base salary and accrued
vacation pay (if any) through the date of termination of your employment for
cause.

(b) If your employment is
terminated due to death, your estate or beneficiaries, as the case may be,
shall be entitled to:

 2
 

(i)            payment of base salary through the date of
termination;

(ii)           payment of the pro-rated portion of the
annual bonus that you received for the fiscal year immediately preceding the
date of termination; and

(iii)          other or additional benefits in accordance
with applicable plans and programs of the Company.

(c)
If your employment is terminated due to disability (as defined below), you
shall be entitled to the following (but in no event less than the benefits due
to you under the then current disability program of the Company):

(i)            payment of base salary through the date of
termination;

(ii)           payment of the pro-rated portion of the
annual bonus that you received for the fiscal year immediately preceding the
date of termination;

(iii)          until the earlier of the end of such
disability and the end of the Term, continued participation in medical, dental,
hospitalization and life insurance coverage and in all other employee plans and
programs in which you were participating on the date of termination; and

(iv)          other or additional benefits in accordance
with applicable plans and programs of the Company.

For purposes of this
Agreement, “disability” shall mean your inability to substantially perform your
duties and responsibilities under this Agreement for a period of 120
consecutive days.

(d) If the Company
terminates your employment for any reason other than those defined in
paragraphs 4 (a), (b) or (c) above, or if you terminate your employment by
reason of the Company’s breach of paragraph 3 (a) above, then you shall be
entitled to:

(i)            payment of your then current base salary through
the date of termination;

(ii)           payment of your pro-rated Target Bonus for
the calendar year in which your employment is terminated;

(iii)          payment of an amount equal to one (1) times
your then current base salary and Target Bonus, if your employment is
terminated under this paragraph 4(d) at any time prior to the expiration of the
Term;

(iv)          vesting of equity awards as if you had
remained employed through the end of the calendar year in which your employment
is terminated or, if your employment is terminated in December of a year, for
one additional calendar year, subject to the other terms and conditions of the
applicable equity awards; and

 3
 

(v)                                 continued participation in Company-sponsored
medical plans in which you were participating on the date of termination,
through either (a) the longer of the end of the Term or 12 months from the date
of termination of your employment, or (b) until you receive coverage through
another employer, whichever first occurs.

Any change of your principal
place of employment (base location) from New York, New York or any adverse
change in the scope of your job responsibilities or reporting relationship, in
any case without your consent, shall be deemed a constructive termination of
your employment by the Company for purposes of, and upon such termination of
employment (by you or by the Company) you shall be entitled to, the payments
and benefits provided for above.  All
payments under this paragraph 4(d) shall be conditioned upon your execution of
a release agreement in the Company’s customary form or otherwise acceptable to
the Company.

(e) Notwithstanding anything in this
Agreement to the contrary, in the event that the Company adopts a severance
plan applicable to comparable executives which provides for payments or
benefits which are more favorable to executives than the provisions of this
Agreement, then you shall automatically be entitled to such more favorable
payments or benefits, subject to the terms and conditions of such plan, unless
you otherwise agree in writing after adoption of any such plan.

5.                           (a) You have previously received a copy of
the Company’s Code of Ethics and Business Conduct.  You agree to abide by the provisions of this Code
(as amended and posted on the Company’s website from time to time) at all times
during your employment by the Company.

(b) You will not during the term of your
employment and for a period of one year thereafter, directly or indirectly,
induce or attempt to induce any managerial, sales or supervising employee of
the Company or its affiliates to render services to any other person, firm or
corporation.

(c) You acknowledge that the relationship
between the parties hereto is exclusively that of employer and employee and
that the Company’s obligations to you are exclusively contractual in
nature.  The Company shall be the sole
owner of all the fruits and proceeds of your services hereunder, including, but
not limited to, all ideas, concepts, formats, suggestions, developments,
arrangements, designs, packages, programs, promotions and other intellectual
properties which you may create in connection with and during your term of your
employment hereunder, free and clear of any claims by you (or anyone claiming
under you) of any kind or character whatsoever (other than your right to
compensation hereunder).  You shall, at
the request of the Company, execute such assignments, certificates or other
instruments as the Company may from time to time deem necessary or desirable to
evidence, establish, maintain, perfect, protect, enforce or defend its right,
title and interest in or to any such properties.

(d) All memoranda, notes, records and other
documents made or compiled by you, or made available to you during the term of
this Agreement concerning the business of the Company or it affiliates shall be
the Company’s property and shall be delivered to the Company on the

 4
 

termination of this Agreement or at any other
time on request.  You shall keep in
confidence and shall not use for yourself or others, or divulge to others, any
information concerning the business not publicly available and which is
obtained by you as a result of your employment, including but not limited to,
trade secrets or processes and information deemed by the Company to be
proprietary in nature, unless disclosure is permitted by the Company or
required by law.

(e) The Company shall have the right to use
your name, biography and likeness in connection with its business, including in
advertising its products and services, and may grant this right to others, but
not for use as a direct endorsement.

(f) The covenants set forth in sub paragraphs
(b), (c) and (d) above shall survive the termination of this Agreement.

6.                           The services to be furnished by you hereunder
and the rights and privileges granted to the Company by you are of a special,
unique, unusual, extraordinary, and intellectual character which gives them a
peculiar value, the loss of which cannot be reasonably or adequately compensated
in damages in any action or law, and a breach by you of any of the provisions
contained herein will cause the Company irreparable injury and damage.  You expressly agree that the Company shall be
entitled to seek injunctive and other equitable relief, to prevent a breach of
this Agreement by you.  Resort to
equitable relief however, shall not be construed as a waiver of any preceding
or succeeding breach of the same or any other term or provision.  The various rights and remedies of the
Company hereunder shall be construed to be cumulative and no one of them shall
be exclusive to any other or of any other or of any right or remedy allowed by
law.

7.                           In consideration of the making of the
Agreement, as well as of the other consideration stated herein, you expressly
agree that (a) the Company’s Employee Statements and Agreements and Mutual
Agreement to Arbitrate Claims (copies of which you have received and which are
incorporated herein by reference) shall apply to this Agreement; and (b) if you
continue in the employ of the Company after the end of the Term, your
employment shall be at-will and shall otherwise be in accordance with the
provisions of this Agreement and such then existing Company policies as may
then be in effect applicable to comparable executives of the Company.

8.                           This Agreement shall be governed by the laws
of the State of New York applicable to contracts performed entirely therein.

9.                           This
Agreement shall inure to the benefit of the successors and general assigns of
the Company and to the benefit of any other corporation or entity which is a
parent, subsidiary or affiliate of the Company to which this Agreement is
assigned, and any other corporation or entity into which the Company may be
merged or with which it may be consolidated. Except as herein provided, this
Agreement shall be nonassignable.

 5
 

 

	
  

  	
   

  	
  Sincerely,

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The DIRECTV Group, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Chase Carey

  	
   

  
	
   

  	
   

  	
   

  	
  Chase Carey

  
	
   

  	
   

  	
   

  	
  President and CEO

  
	
   

  	
   

  	
   

  	
   

  
	
  THE FOREGOING IS AGREED TO:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Romulo
  Pontual

  	
   

  	
   

  	
   

  
	
  Romulo Pontual

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  02/08/07

  	
   

  	
   

  	
   

  
	
  Date

  	
   

  	
   

  

 

 6

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