Document:

ex10-15.htm

    
      	 	
              April
                16, 2007

            	
              EXHIBIT
                10.15

            

    

    

    

    Mr.
      Greg
      Willis

    322
      Highlands

    Union
      Grove, AL  35175

    

    Dear
      Mr.
      Willis:

    

    The
      purpose of this letter is to confirm your continuing employment with Lakeland
      Industries, Inc. on the following terms and conditions:

    

    
      	
               

            	
              1.

            	
              THE
                PARTIES

            

    

    

    This
      is
      an Agreement between Greg Willis, residing at 322 Highlands, Union Grove, AL
      35175 (hereinafter referred to as “you”), and Lakeland Industries, Inc., a
      Delaware corporation, with a principal place of business located at 701-7
      Koehler Avenue, Ronkonkoma, NY 11779- 7410 (hereinafter the
“Company”).

    

    
      	
               

            	
              2.

            	
              TERM

            

    

    

    The
      term
      of the Agreement shall be for a 2 year period, from May 1, 2007 through and
      including April 30, 2009.

    

    
      	
               

            	
              3.

            	
              CAPACITY

            

    

    

    You
      shall
      be employed in the capacity of Executive Vice President of Lakeland Industries,
      Inc. or such other position or positions as may be determined from time to
      time
      by the Company.

    

    You
      agree
      to devote your full time and attention and best efforts to the faithful and
      diligent performance of your duties to the Company and shall serve and further
      the best interests and enhance the reputation of the Company to the best of
      your
      ability.

    

    
      	
               

            	
              4.

            	
              COMPENSATION

            

    

    

    As
      full
      compensation for your services, you shall receive following from the
      Company:

    
      	
               

            	
              (a)

            	
              A
                base annual salary of $200,000.00 payable bi-weekly (the “Base Salary”);
                and

            

    

    
      	
               

            	
              (b)

            	
              Participation,
                if and when eligible, in the Company’s pension plan, profit sharing plan,
                medical and disability plans, stock appreciation rights plan, stock
                option
                plans and/or ESOP. 401(k) plans when any such plans become effective;
                and

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               

            	
              (c)

            	
              Such
                benefits as are provided from time to time by the Company to its
                officers
                and employees; provided however that your annual vacation shall be
                for a
                period of 4 weeks, with no more than 2 such weeks taken at any one
                time;
                and

            

    

    

    
      	
               

            	
              (d)

            	
              A
                commission structure shall be an override on gross sales as
                follows:

            

    

    
      	
              Disposable
                Tyvek

            	
              .1%

            
	
              Disposable
                non Tyvek

            	
              .3%

            
	
              Chemical

            	
              .4%

            
	
              Highland

            	
              .6%

            
	
              Weifang

            	
              .4%

            
	
              Maytung

            	
              .4%

            
	
              Woven
                / fire

            	
              .5%

            
	
              Mifflin

            	
              .5%

            

    

    

    Such
      commission structure pertains to the year ending April 30, 2008 and is subject
      to change for the year ending April 30, 2009, based on market
      conditions.

    

    
      	
               

            	
              (e)

            	
              An
                automobile allowance in the amount of $750 per month, subject to
                on-going
                review and discretion of the Company;
                and

            

    

    

    
      	
               

            	
              (f)

            	
              Reimbursement
                for any dues and expenses incurred by you that are necessary and
                proper in
                the conduct of the Company’s business;
                and

            

    

    

    
      	
               

            	
              (g)

            	
              An
                annual bonus as set forth in Section 5 of this Agreement (the “Annual
                Bonus”).

            

    

    

    
      	
              5.

            	
              ANNUAL
                BONUS

            

    

    

    In
      May of
      each year commencing in 2007, you may be awarded a discretionary bonus based
      on
      the efficient and successful realization of objectives and goals to be set
      by
      the Chief Executive Officer in consultation with you and additionally any other
      goals set by the Compensation Committee of the Board of Directors.

    

    
      	
              6.

            	
              NON-COMPETITION/SOLICITATION/CONFIDENTIALITY

            

    

    

    During
      your employment with the Company and for one year thereafter, you shall not,
      either directly or indirectly, as an agent, employee, partner, stockholder,
      director, investor or otherwise, engage in any business in competition with
      the
      business activities of the Company within the Company’s market
      area(s).  You shall also abide by the Code of Ethics Agreement and
      other Corporate Governance Rules.  You shall disclose prior to the
      execution of this Agreement (or later on as the case may be) all business
      relationships you presently have or contemplate entering into or enter into
      in
      the future that might affect your responsibilities or loyalties to the
      Company.

    

    During
      the term of your employment and for one year thereafter, you shall not, directly
      or indirectly, hire, offer to hire or otherwise solicit the employment of any
      employee of the

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    Company
      on behalf of yourself or any other business or entity that competes with the
      business activities engaged in by the Company within the Company’s market
      area(s).

    

    Except
      as
      may be required to perform your duties on behalf of the Company, you agree
      that
      during your employment and for a period of one year thereafter, you shall not,
      directly or indirectly, solicit, service, or accept business from, on your
      own
      behalf or on behalf of any other business or entity, any customers or potential
      customers of the Company with whom you had contact during your employment or
      about whom you acquired confidential information during your
      employment.

    

    Except
      as
      required in your duties to the Company, you shall not at any time during or
      after your employment, directly or indirectly, use or disclose any confidential
      or proprietary information relating to the Company or its business or customers
      which is disclosed to you or known by you as a consequence of or through your
      employment by the Company and which is not otherwise generally obtainable by
      the
      public at large.

    

    In
      the
      event that any of the provisions in this paragraph 6 shall ever be adjudicated
      to exceed limitations permitted by applicable law, you agree that such
      provisions shall be modified and enforced to the maximum extent permitted under
      applicable law.

    

    
      	
              7.

            	
              TERMINATION

            

    

    

    You
      or
      the Company may terminate your employment prior to the end of the Term upon
      written notice to the other party in accordance with the following
      provisions:

    

    
      	
               

            	
              (a)

            	
              Death.  Your
                employment shall terminate on the date of your death.  Your Base
                Salary (as in effect on the date of death) shall continue through
                the last
                day of the month in which your death occurs.  Payment of your
                Base Salary shall be made to your estate or your beneficiary as designated
                in writing to the Company.  Your estate or designated
                beneficiaries as applicable shall also receive a pro-rata portion
                of the
                Annual Bonus, if any, determined for the fiscal year up to and including
                the date of death which shall be determined in good faith by the
                Compensation Committee of the Board of Directors.  Your
                beneficiaries shall also be entitled to all other benefits generally
                paid
                by the Company on an employee’s
                death.

            

    

    

    
      	
               

            	
              (b)

            	
              Disability.  Your
                employment shall terminate if you become totally disabled.  Your
                shall be deemed to be totally disabled in you are unable, for any
                reason,
                to perform any of your duties to the Company, with or without a reasonable
                accommodation, for a period of 90 consecutive days or for periods
                aggregating 120 days in any period of 180 consecutive
                days.

            

    

    

    
      	
               

            	
              (c)

            	
              Cause.  The
                Company may terminate your employment for “Cause”, which shall mean
                termination based upon: (i) your failure to substantially perform
                your
                duties with the Company, after a written demand for such performance
                is
                delivered to you by the Company, which identifies the manner in which
                you
                have not performed your duties, (ii) your commission of an act of
                fraud,
                theft, misappropriation, dishonesty or embezzlement, (iii) your conviction
                for a felony

            

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    or
      pleading nolo contendere to a felony, (iv) your failure to follow a
      lawful directive of management, or (v) your material breach of any provision
      of
      this Agreement.  In the event of a termination for Cause, the Company
      shall pay you, within thirty days of such termination, that portion of your
      Base
      Salary which is accrued but unpaid as of the date of such termination and any
      other benefits accrued prior to the date of termination under this
      Agreement.

    

    
      	
               

            	
              (d)

            	
              Other
                Termination.  Should you decide to leave the Company,
                you will provide the Company with 45 days written
                notice.  Should the Company decide to terminate you for any
                reason other than as set forth above, it shall have the right to
                buy out
                your contract rights herein for 6 months Base Salary and any commissions
                and bonus due you on the date of termination and what you would have
                been
                paid in commissions for 6 months after the date of termination calculated
                from the prior six months of commissions, all concomitant with your
                execution of the Company’s standard severance agreement and
                release.

            

    

    

    
      	
              8.

            	
              NOTICES

            

    

    

    Any
      notices required to be given under this Agreement shall, unless otherwise agreed
      to by you and the Company, be in writing and by certified mail, return receipt
      requested and mailed to the Company at its headquarters at 701 Koehler Avenue,
      Suite 7, Ronkonkoma, NY  11779-7410 or to you at your home address at
      322 Highlands, Union Grove, AL  35175.

    

    
      	
               

            	
              9.

            	
              ASSIGNMENT
                AND SUCCESSORS

            

    

    

    The
      rights and obligations of the Company under this Agreement shall inure to the
      benefit of and shall be binding upon the successors of the
      Company.  This Agreement may not be assigned by the Company unless the
      assignee or successor (as the case may be) expressly assumes the Company’s
      obligations hereunder in writing.  In the event of a successor to the
      Company or the assignment of the Agreement, the term “Company” as used herein
      shall include any such successor or assignee.

    

    
      	
              10.

            	
              WAIVER
                OR MODIFICATION

            

    

    

    No
      waiver
      or modification in whole or in part of this Agreement or any term or condition
      hereof shall be effective against any party unless in writing and duly signed
      by
      the party sought to be bound.  Any waiver of any breach of any
      provision hereof or right or power by any party on one occasion shall not be
      construed as a waiver of or a bar to the exercise of such right or power on
      any
      other occasion or as a waiver of any subsequent breach.

    

    
      	
              11.

            	
              SEPARABILITY

            

    

    

    Any
      provision of this Agreement which is unenforceable or invalid in any respect
      in
      any jurisdiction shall be ineffective in such jurisdiction to the extent that
      it
      is unenforceable or invalid without effecting the remaining provisions hereof,
      which shall continue in full force and effect.  The unenforceability
      or invalidity of any provision of the Agreement in one jurisdiction shall not
      invalidate or render unenforceable such provision in any other
      jurisdiction.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
      	
              12.

            	
              GOVERNING
                LAW AND ARBITRATION

            

    

    

    This
      Agreement shall be interpreted and construed in accordance with the laws of
      the
      State of New York without regard to its choice of law principles.  Any
      dispute, controversy or claim of any kind arising under, in connection with,
      or
      relating to this Agreement or your employment with the Company shall be resolved
      exclusively by binding arbitration.  Such arbitration shall be
      conducted in New York City in accordance with the rules of the American
      Arbitration Association (“AAA”) then in effect.  The costs of the
      arbitration (fees to the AAA and for the arbitrator(s)) shall be shared equally
      by the parties, subject to apportionment or shifting in the arbitration
      award.  In addition, the prevailing party in arbitration shall be
      entitled to reimbursement by the other party for its reasonable attorney’s fees
      incurred.  Judgment may be entered on the arbitration award in any
      court of competent jurisdiction.

    

    
      	
              13.

            	
              HEADINGS

            

    

    

    The
      headings contained in this Agreement are for convenience only and shall not
      effect, restrict or modify the interpretation of this Agreement.

    

    

    

    
      	 	
              LAKELAND
                INDUSTRIES, INC.

            
	 	 	 
	 	
              By:

            	
              /s/Eric
                O Hallman

            
	 	 	
              Eric
                O. Hallman

            
	 	 	 
	
              AGREED
                AND ACCEPTED

            	
              By:

            	
              /s/John
                J Collins

            
	 	 	
              John
                J. Collins

            
	 	 	 
	
              /s/Greg
                Willis

            	
              By:

            	
              /s/A
                John Kreft

            
	
              Greg
                Willis

            	 	
              A.
                John Kreft

            
	
              Executive
                Vice President

            	 	 
	 	
              By:

            	
              /s/Michael
                Cirenza

            
	 	 	
              Michael
                Cirenza

            
	 	 	 
	 	
              By:

            	
              /s/Stephen
                Bachelder

            
	 	 	
              Stephen
                Bachelder

            
	 	 	 
	 	
              Board
                of Directors

            
	 	
              Compensation
                Committee

            
	 	 	 

    

    

    

    5exhibit_10-1.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

Exhibit 10.1

AMENDED AND RESTATED

EMPLOYMENT AGREEMENT

      AMENDED AND RESTATED EMPLOYMENT AGREEMENT, dated as of June 6, 2007 (this “Agreement”), between SIRIUS SATELLITE RADIO INC., a Delaware corporation (the
“Company”), and JAMES E. MEYER (the “Executive”). 

      WHEREAS, the Company and the Executive previously entered into an amended and restated employment agreement dated as of March 11, 2005, as amended as of February 2, 2006 (the “Prior
Agreement”), which Prior Agreement by its terms expired on April 16, 2007; and 

      WHEREAS, since that date, the Executive’s employment with the Company has continued on the same terms and conditions as set forth in the Prior Agreement, and the Company and the Executive jointly desire to enter into this
Agreement, which is intended to amend and restate the Prior Agreement in its entirety, to reflect the terms and conditions of the Executive’s continued employment with the Company. 

      In consideration of the mutual covenants and conditions set forth herein, the Company and the Executive hereby agree as follows: 

     1. Employment. Subject to the terms and conditions of this Agreement, the Company hereby continues to employ the Executive, and the Executive
hereby accepts continued employment with the Company. 

      2. Duties and Reporting Relationship. (a) The Executive shall be employed in the capacity of President, Operations and Sales, of the Company. In such capacity, the
Executive shall be responsible for management of all aspects of the Company’s retail and automaker operations (including retail sales and OEM sales and marketing operations), customer care and retention, product management and engineering and
all personnel working in such areas shall report to the Executive. During the Term (as defined below), the Executive shall, on a full-time basis and consistent with the needs of the Company to achieve the goals of the Company, use his skills and
render services to the best of his ability in supervising the business and affairs of the Company. In addition, the Executive shall perform such other activities and duties consistent with his position as the Chief Executive Officer of the Company
or the Board of Directors of the Company or any committee thereof (the “Board”) shall from time to time reasonably specify and direct. During the Term, the Executive shall not
perform any consulting services for, or engage in any other business enterprises with, any third parties without the express consent of the Board, other than (i) passive investments, (ii) consulting services and business enterprises for which the
Executive receives no remuneration, and (iii) service as a director of Gemstar International, Inc. or service on other boards of directors with the express consent of the Chief Executive Officer of the Company. 

      (b)      The Executive shall generally perform his duties and conduct his business at the principal offices of the Company in New York, New York. 

2

     (c)      The Executive shall report to the Chief Executive Officer of the Company.

      3. Term. The term of this Agreement shall be considered to commence as of April 16, 2007, and shall end on April 30, 2010, unless terminated earlier pursuant to the
provisions of Section 6 (the “Term”). 

      4. Compensation. (a) During the Term, the Executive shall be paid an annual base salary of $900,000 (the “Base
Salary”). The Base Salary shall be subject to increase from time to time by recommendation of the Chief Executive Officer of the Company to, and approval by, the Board. All amounts paid to the Executive under this
Agreement shall be in U.S. dollars. The Base Salary shall be paid at least monthly and, at the option of the Company, may be paid more frequently. 

      (b)      During the Term, the Executive shall be entitled to participate in any bonus plans generally offered to employees at the same level. Bonuses are subject to the Executive’s individual performance and satisfaction of
objectives established by the Board, and the Compensation Committee thereof. Bonuses may be paid in the form of cash, restricted stock, restricted stock units, other securities of the Company or any combination thereof. The Executive shall not be
entitled to any guaranteed bonus. 

      (c)      All compensation paid to the Executive hereunder shall be subject to any payroll and withholding deductions required by applicable law. 

      5. Additional Compensation; Expenses and Benefits. (a) During the Term, the Company shall reimburse the Executive for all reasonable and necessary business expenses
incurred and advanced by him in carrying out his duties under this Agreement. In addition, the Company shall reimburse the Executive for the reasonable costs of an apartment in the New York metropolitan area and other incidental living expenses
(e.g., phone, cable, electric, gas, one month’s security deposit (which shall be returned to the Company at the end of the Term) and one leasing broker’s commission), up to a maximum of $5,000 per month for rent. The Company shall also
reimburse the Executive for the reasonable costs of coach class air-fare from the Executive’s home in Indianapolis, Indiana, to the Company’s executive offices in New York City. The Executive shall also be paid such additional amount as
may be necessary to hold the Executive harmless as a result of any federal, state or New York City income taxes that may be due solely as a result of the Company’s reimbursement of rent and living expenses and reimbursement of air-fare from the
Executive’s home in Indianapolis, Indiana. The Executive shall present to the Company an itemized account of all expenses in such form as may be required by the Company from time to time. 

      (b)      During the Term, the Executive shall be entitled to participate in any other benefit plans, programs, policies and fringe benefits which may be made available to the executive officers of the Company generally, including,
without limitation, disability, medical, dental and life insurance and benefits under the Sirius Satellite Radio 401(k) Savings Plan. 

3

      (c)      With respect to any stock options granted by the Company to the Executive after the date hereof during the Term, such stock options shall provide that, upon a termination of employment due to the Executive’s death, such
stock options shall become vested with respect to that portion of the options that would have otherwise become vested within 12 months following the date of such termination of employment. With respect to the restricted stock unit grant made to the
Executive by the Company dated as of February 1, 2007, and with respect to any portion of the Executive’s annual bonus that is paid in the form of a restricted stock unit grant by the Company to the Executive after the date hereof during the
Term (each such grant, an “RSU”), such RSU shall provide for the same vesting and payment terms upon a termination of employment hereunder due to Scheduled Retirement pursuant to
Section 6(c)(ii) or following the Merger pursuant to Section 6(c)(iii) as are provided under such RSU upon a termination of employment without “cause” (as defined therein). 

      6. Termination. The date upon which the Executive’s employment and the Term are deemed to be terminated in accordance with any of the provisions of this Section 6 is
referred to herein as the “Termination Date.” 

      (a)      The Company has the right and may elect to terminate the Term and the Executive’s employment for Cause at any time. For purposes of this Agreement, “Cause” means the occurrence or existence of any of the following: 

                 (i)      a material breach by the Executive of (A) the terms of this Agreement or (B) his duty not to engage in any transaction that represents, directly or indirectly, self-dealing with the Company or any of its subsidiaries (which,
for purposes hereof, shall mean any individual, corporation, partnership, association, limited liability company, trust, estate, or other entity or organization directly or indirectly controlling, controlled by, or under direct or indirect common
control with the Company) which has not been approved by a majority of the disinterested directors of the Board, if any such material breach described in clause (A) or clause (B) remains uncured after thirty days have elapsed following the date on
which the Company gives the Executive written notice of such breach; 

                 (ii)      a material breach by the Executive of any duty referred to in clause (i) above with respect to which at least one prior notice was given under clause (i); 

                 (iii)      any act of dishonesty, misappropriation, embezzlement, intentional fraud, or similar intentional misconduct by the Executive involving the Company or any of its subsidiaries;

                 (iv)      the conviction or the plea of nolo contendere or the equivalent in respect of a felony; 

                 (v)      any damage of a material nature to any property of the Company or any of its subsidiaries caused by the Executive’s willful misconduct or gross negligence; 

4

                 (vi)      the repeated nonprescription use of any controlled substance or the repeated use of alcohol or any other non-controlled substance that, in the reasonable good faith opinion of the Board, renders the Executive unfit to serve
as an officer of the Company; 

                 (vii)      the Executive’s failure to comply with the reasonable written instructions of the Chief Executive Officer of the Company within five days; or 

                 (viii)      conduct by the Executive that in the reasonable good faith written determination of the Board demonstrates unfitness to serve as an officer of the Company, including, without limitation, a finding by the Board or any
judicial or regulatory authority that the Executive committed acts of unlawful harassment or violated any other state, federal or local law or ordinance prohibiting discrimination in employment. 

Termination of the Executive for Cause pursuant to this Section 6(a) shall be communicated by a Notice of Termination. For purposes of this Agreement, a “Notice of Termination” shall mean delivery to the Executive of a copy of a resolution or resolutions duly adopted by the affirmative vote of not less than two-thirds of the directors (other than the Executive, if the Executive is then serving on the
Board) present (in person or by teleconference) and voting at a meeting of the Board called and held for that purpose after reasonable notice to the Executive and reasonable opportunity for the Executive, together with the Executive’s counsel,
to be heard before the Board prior to such vote, finding that in the good faith opinion of the Board, the Executive was guilty of conduct set forth in any of clauses (i) through (viii) of this Section 6(a) and specifying the particulars thereof in
reasonable detail. For purposes of this Section 6(a), the Executive’s employment and the Term shall terminate on the date specified by the Board in the Notice of Termination. 

      (b)      (i)      The Executive’s employment and the Term shall terminate upon the death of the Executive. 

                 (ii)      If the Executive is unable to perform the essential duties and functions of his position because of a disability, even with a reasonable accommodation, for one hundred eighty days within any three hundred sixty-five day
period, the Board shall have the right and may elect to terminate the services of the Executive by a Notice of Disability Termination. The Executive shall not be terminated following a Disability except pursuant to this Section 6(b)(ii). For
purposes of this Agreement, a “Notice of Disability Termination” shall mean a written notice that sets forth in reasonable detail the facts and circumstances claimed to provide a
basis for termination of the Executive’s employment under this Section 6(b)(ii). For purposes of this Agreement, no such purported termination by the Board shall be effective without such Notice of Disability Termination. The Executive’s
employment and the Term shall terminate on the day such Notice of Disability Termination is received by the Executive. 

      (c)      (i)      The Executive may elect to resign from his employment with the Company at any time during the Term for other than Good Reason. Should the Executive wish to resign from his employment with the Company during the Term for
other than Good Reason, and not due to Scheduled Retirement pursuant to Section 6(c)(ii) nor following the Merger pursuant to Section 6(c)(iii), the Executive shall give fourteen days prior written notice to the 

5

Company of such a resignation for other than Good Reason pursuant to this Section 6(c)(i). The Executive’s employment and the Term shall terminate on the effective date of such resignation; provided that the Company may, at its sole discretion, instruct the Executive to perform no job responsibilities and cease his active employment immediately upon receipt of the notice from the Executive.

                 (ii)      The Executive may elect to resign from his employment with the Company during the Term for other than Good Reason, due to Scheduled Retirement. For purposes hereof, “Scheduled
Retirement” means the voluntary retirement from employment hereunder of the Executive; provided that the Executive provides the Company with 60 days’
prior written notice of his resignation under this Section 6(c)(ii), and such Scheduled Retirement may only occur during either April 2008, April 2009 or April 2010. In the event of such Scheduled Retirement, the Executive shall be entitled to the
severance payments and benefits set forth in Section 6(f) (subject to his execution and non-revocation of the release described in Section 6(f)), but such Scheduled Retirement shall be treated as a voluntary resignation for all other purposes
hereunder. The Executive’s employment and the Term shall terminate on the effective date of such Scheduled Retirement; provided that the Company may, at its sole discretion, instruct
the Executive to perform no job responsibilities and cease his active employment immediately upon receipt of the notice from the Executive. 

                 (iii)      The Executive may elect to resign from his employment with the Company during the Term for other than Good Reason following the consummation of the transactions contemplated by the Agreement and Plan of Merger dated as of
February 19, 2007 by and among the Company, Vernon Merger Corporation and XM Satellite Radio Holdings Inc. (the “Merger”), subject to the requirements of this Section 6(c)(iii).
The Executive must provide the Company with 60 days’ prior written notice of his resignation pursuant to this Section 6(c)(iii), and the Termination Date may only occur during April 2008 or April 2009. In the event that the Merger is
consummated in April 2008 or at such time prior to April 2008 that the Executive would not have sufficient time to provide the Company with 60 days’ prior written notice, delivered after the consummation of the Merger and to be effective during
April 2008, then, notwithstanding the preceding sentence, the Executive may at any time after the consummation of the Merger and prior to the date that is 90 days following the consummation of the Merger notify the Company that he has elected to
resign his employment with the Company pursuant to this Section 6(c)(iii), and such resignation shall be effective 60 days following the Executive’s written notice to the Company. In the event the Executive resigns in accordance with this
Section 6(c)(iii), the Executive shall be entitled to the severance payments and benefits set forth in Section 6(g) (subject to his execution and non-revocation of the release described in Section 6(g)), but such resignation shall be treated as a
voluntary resignation for all other purposes hereunder. The Executive’s employment and the Term shall terminate on the effective date of such resignation; provided that the Company may,
at its sole discretion, instruct the Executive to perform no job responsibilities and cease his active employment immediately upon receipt of the notice from the Executive. 

      (d)      The Company shall have the absolute right to terminate the Term and the Executive’s employment without Cause at any time. The Executive’s employment and the Term shall terminate one day following receipt of such
notice by the Executive. However, the 

6

Company may, at its sole discretion, instruct the Executive to cease active employment and perform no more job duties immediately upon provision of such notice to the Executive. 

      (e)      The Executive shall have the absolute right to terminate his employment at any time. Should the Executive wish to resign from his employment with the Company during the Term for Good Reason, the Executive shall give seven
days prior written notice to the Company or, if other than for Good Reason, fourteen days prior written notice to the Company (or 60 days in the case of Scheduled Retirement effected pursuant to Section 6(c)(ii) or resignation following the Merger
effected pursuant to Section 6(c)(iii)). The Executive’s employment and the Term shall terminate on the date specified in such notice given in accordance with the relevant provision; provided that the Company may, at its sole discretion, instruct the Executive to cease active employment and perform no more job duties immediately upon receipt of such notice from the Executive. 

      For purposes of this Agreement, “Good Reason” shall mean the continuance of any of the following events (without the Executive’s prior written consent) for
a period of thirty days after delivery to the Company by the Executive of a notice of the occurrence of such event: 

                 (i)      the assignment to the Executive by the Company of duties not reasonably consistent with the Executive’s positions, duties, responsibilities, titles or offices set forth in Section 2(a), any material reduction in his
duties or responsibilities or any removal of the Executive from or any failure to re-elect the Executive to any of such positions or the Executive not being the sole officer of the Company, other than the Company’s Chief Executive Officer,
responsible for all sales, engineering and product development activities and personnel (except in connection with the termination of the Executive’s employment for Cause, disability or as a result of the Executive’s death or by the
Executive other than for Good Reason); or

                 (ii)      the Executive ceasing to report directly to the Chief Executive Officer of the Company; or 

                 (iii)      any requirement that the Executive report for work to a location more than 25
miles from the Company’s current headquarters for more than 30 days in any calendar year, excluding any requirement that results from the
damage or destruction of the Company’s current headquarters as a result of natural disasters, terrorism, acts of war or acts of God or travel in the ordinary course of business; or 

                 (iv)      any reduction in the Base Salary; or 

                 (v)      any material breach by the Company of this Agreement. 

      (f)      Subject to Section 6(g), if the employment of the Executive is terminated without Cause, or if the Executive terminates his employment for Good Reason or for Scheduled Retirement, then the Executive shall be entitled receive,
and the Company shall pay to the Executive: 

7

                 (i)     without setoff, counterclaim
or other withholding, except as set forth in Section 4(c), a lump sum cash amount
(in addition to any salary, benefits or other sums due the Executive through
the Termination Date) equal to the  sum of (x) his annual Base Salary at the
rate in effect on the Termination Date plus (y)
the greater of (A) a bonus equal to 60% of Base Salary, or (B) the prior year’s
annual bonus  actually paid to the Executive by the Company;

                 (ii)     the
continuation of medical and dental insurance benefits, on the same terms as provided
by the Company for active employees, under the Consolidated Omnibus Reconciliation
Act of 1985 (“COBRA”)
for eighteen months (twelve months in the case of a Scheduled Retirement) following
the Termination Date; and 

                 (iii)     a
monthly amount equal to the actual monthly costs to the Executive to obtain life
insurance benefits substantially similar to those benefits provided to the Executive
for a period of one year following such Termination  Date; provided that
(1) the amount of such monthly payments shall not exceed twice the amount that
the Company would have paid to provide such life insurance benefit to the Executive
if he  were an active employee, and (2) such payments shall cease if the Executive
obtains a life insurance benefit from another employer during the remainder of
such one-year period. 

The Company’s obligations under this Section 6(f) shall be conditioned upon the Executive executing and delivering an agreement and waiver and release of claims against the Company in the form attached as Exhibit A. Subject to Section 6(h), any amount becoming payable under Section 6(f)(i) shall be paid in immediately available funds on the tenth business day following the Termination Date; provided that the Executive has not revoked such agreement and waiver and release of claims in accordance with the terms thereof prior to such payment date. 

      (g)     Notwithstanding Section
6(f), if the employment of the Executive is terminated without Cause or the Executive
terminates his employment for Good Reason, in each case during the 12 month period
following the consummation of  the Merger, then in lieu of (and not in addition
to) the amounts set forth in Section 6(f), the Executive shall be entitled to
receive, and the Company shall pay to the Executive, the amounts set forth in
this Section 6(g). Alternatively, if the  Executive voluntarily resigns his employment
following the Merger in accordance with Section 6(c)(iii), then the Executive
shall be entitled to receive, and the Company shall pay to the Executive, the
amounts set forth in this Section 6(g), as  follows: 

                 (i)     without
setoff, counterclaim or other withholding, except as set forth in Section 4(c),
a lump sum cash amount (in addition to any salary, benefits or other sums due
the Executive through the Termination Date) equal to the  product of (x) two
times (y) the sum of (A) his annual Base Salary at the rate in effect on the
Termination Date plus (B)
the greater of (A) a bonus equal to 60% of Base Salary, or (B) the  prior year’s
annual bonus actually paid to the Executive by the Company; 

                 (ii)     the
continuation of medical and dental insurance benefits, on the same terms as provided
by the Company for active employees, under COBRA for eighteen months following
the Termination Date and, for an additional six months  thereafter, monthly payment
of an amount equal to the actual monthly costs to the Executive to obtain medical
and dental 

8

insurance benefits substantially similar to those benefits provided to the Executive on the Termination Date; provided that (1) the amount of such monthly payments shall
not exceed twice the amount that the Company would have paid to provide such medical and dental insurance benefits to the Executive, as if he were an active employee, and (2) such payments shall cease if the Executive obtains medical and dental
benefits from another employer; and

                 (iii)     a
monthly amount equal to the actual monthly costs to the Executive to obtain life
insurance benefits substantially similar to those benefits provided to the Executive
as an active employee for a period of twenty four  months after the Termination
Date; provided that
(1) the amount of such monthly payments shall not exceed twice the amount that
the Company would have paid to provide such life insurance  benefit to the Executive
if he was an active employee, and (2) such payments shall cease if the Executive
obtains a life insurance benefit from another employer. 

The Company’s obligations under this Section 6(g) shall be conditioned upon the Executive executing and delivering an agreement and waiver and release of claims against the Company in the form attached as Exhibit A. Subject to Section 6(h), any amount becoming payable under this Section 6(g)(i) shall be paid in immediately available funds on the tenth business day following the Termination Date;
provided that the Executive has not revoked such agreement and waiver of release of claims in accordance with the terms thereof prior to such payment date. 

      (h)     Notwithstanding anything
herein to the contrary, if at the time of the Executive’s termination of
employment with the Company, the Executive is a “specified employee” as
defined in Section 409A of the Internal  Revenue Code of 1986, as amended (the “Code”),
and the deferral of the commencement of any payments or benefits otherwise payable
hereunder as a result of such termination of  employment is necessary in order
to prevent any accelerated or additional tax under Section 409A of the Code,
then the Company will defer the commencement of the payment of any such payments
or benefits hereunder (without any reduction in such  payments or benefits ultimately
paid or provided to the Executive) until the date that is six months following
the Executive’s termination of employment with the Company (or the earliest
date as is permitted under Section 409A of the Code). The  Company shall consult
with the Executive in good faith regarding the implementation of the provisions
of this Section 6(h); provided that
neither the Company nor any of its employees or  representatives shall have any
liability to the Executive with respect thereto. 

      7. Nondisclosure of Confidential Information. (a) The Executive acknowledges that in the course of his employment he has occupied and will occupy a position of trust and
confidence. The Executive shall not, except in connection with the performance of his functions or as required by applicable law, disclose to others or use, directly or indirectly, any Confidential Information.

      (b)     “Confidential
Information” shall mean information about
the Company’s business and operations that is not disclosed by the Company
and that was learned  by the Executive in the course of his employment by the
Company, including, without limitation, any business plans, product plans, strategy,
budget information, proprietary knowledge, patents, trade secrets, data, 

9

formulae, sketches, notebooks, blueprints, information and client and customer lists and all papers and records (including computer records) of the documents containing such Confidential Information, other than information that is
publicly disclosed by the Company in writing. The Executive acknowledges that such Confidential Information is specialized, unique in nature and of great value to the Company, and that such information gives the Company a competitive advantage. The
Executive agrees to deliver or return to the Company, at the Company’s request at any time or upon termination or expiration of his employment or as soon as possible thereafter, all documents, computer tapes and disks, records, lists, data,
drawings, prints, notes and written information (and all copies thereof) furnished by or on behalf of the Company or prepared by the Executive in the course of his employment by the Company. 

      (c)     The provisions of this Section
7 shall survive the termination of the Executive’s employment and the Term. 

      8. Covenant Not to Compete. During the Executive’s employment with the Company and during the Restricted Period (as defined below), the Executive shall not, directly
or indirectly, enter into the employment of, render services to, or acquire any interest whatsoever in (whether for his own account as an individual proprietor, or as a partner, associate, stockholder, officer, director, consultant, trustee or
otherwise), or otherwise assist, any person or entity engaged (a) in any operations in North America involving the transmission of radio entertainment programming in competition with the Company or (b) in the business of manufacturing, marketing or
distributing radios, antennas or other parts for use in devices which receive broadcasts of XM Satellite Radio Holdings Inc. or any successor to XM Satellite Radio Holdings Inc., in any such case if such employment, services or acquisition is in
such operations or business; provided that nothing in this Agreement shall prevent (i) the Executive from entering into the employment of, or rendering services to, News Corporation or
DIRECTV, Inc. or (ii) purchase or ownership by the Executive by way of investment of less than five percent of the shares or equity interest of any corporation or other entity. Without limiting the generality of the foregoing, the Executive agrees
that during the Restricted Period, the Executive shall not call on or otherwise solicit business or assist others to solicit business from any of the customers of the Company as to any product or service described in (a) and (b) above that competes
with any product or service provided or marketed by the Company at the end of the Term. The Executive agrees that during the Restricted Period he will not, directly or indirectly, solicit or assist others to solicit the employment of or hire any
employee of the Company without the prior written consent of the Company. For purposes of this Agreement, the “Restricted Period” shall mean three years following the end of the
Term; provided that if the employment of the Executive is terminated without Cause or the Executive terminates his employment for Good Reason, the “Restricted Period” shall be a period of one year following the end of the Term. The provisions of this Section 8 shall survive the termination
of the Executive’s employment and the Term. 

      9. Change of Control Provisions. If the Executive is, in the opinion of a nationally recognized accounting firm jointly selected by the Executive and the Company,
required to pay an excise tax on “excess parachute payments” (as defined in Section 280G(b) of the Code) under Section 4999 of the Code as a result of an acceleration of the vesting of stock options, the Company shall have an absolute and
unconditional obligation to pay the Executive in accordance with the terms of this Section 9 the amount of such taxes. In addition, the Company shall have an

10

absolute and unconditional obligation to pay the Executive such additional amounts as are necessary to place the Executive in the exact same financial position that he would have been in if he had not incurred any expected tax
liability under Section 4999 of the Code. The determination of the exact amount, if any, of any expected “excess parachute payments” and any expected tax liability under Section 4999 of the Code shall be made by a nationally-recognized
independent accounting firm selected by the Executive and the Company. The fees and expenses of such accounting firm shall be paid by the Company. The determination of such accounting firm shall be final and binding on the parties. The Company
irrevocably agrees to pay to the Executive, in immediately available funds to an account designated in writing by the Executive, any amounts to be paid under this Section 9 within two business days after receipt by the Company of written notice from
the accounting firm which sets forth such accounting firm’s determination. In addition, in the event that such payments are not sufficient to pay all excise taxes on “excess parachute payments” under Section 4999 of the Code as a
result of an acceleration of the vesting of options or for any other reason and to place the Executive in the exact same financial position that he would have been in if he had not incurred any expected tax liability under Section 4999 of the Code
as a result of a change in control, then the Company shall have an absolute and unconditional obligation to pay the Executive such additional amounts as may be necessary to pay such excise taxes and place the Executive in the exact same financial
position that he would have been had he not incurred any tax liability as a result of a change in control under the Code. Notwithstanding the foregoing, in the event that a written ruling (whether public or private) of the Internal Revenue Service
(“IRS”) is obtained by or on behalf of the Company or the Executive, which ruling expressly provides that the Executive is not required to pay, or is entitled to a refund with
respect to, all or any portion of such excise taxes or additional amounts, the Executive shall promptly reimburse the Company in an amount equal to all amounts paid to the Executive pursuant to this Section 9 less any excise taxes or additional
amounts which remain payable by, or are not refunded to, the Executive after giving effect to such IRS ruling. Each of the Company and the Executive agrees to promptly notify the other party if it receives any such IRS ruling. 

      10. Remedies. The Executive and Company agree that damages for breach of any of the covenants under Sections 7 and 8 above will be difficult to determine and inadequate
to remedy the harm which may be caused thereby, and therefore consent that these covenants may be enforced by temporary or permanent injunction without the necessity of bond. The Executive believed as of the date of the Prior Agreement, and believes
as of the date of this Agreement, that the provisions of this Agreement are reasonable and that the Executive is capable of gainful employment without breaching this Agreement. However, should any court or arbitrator decline to enforce any provision
of Section 7 or 8 of this Agreement, this Agreement shall, to the extent applicable in the circumstances before such court or arbitrator, be deemed to be modified to restrict the Executive’s competition with the Company to the maximum extent of
time, scope and geography which the court or arbitrator shall find enforceable, and such provisions shall be so enforced. 

      11. Consulting Agreement. So long as the Executive’s employment and the Term have not been terminated by the Company or the Executive pursuant to Section 6, and the
Executive has complied with his obligations under this Agreement in all material respects, on April 30, 2010, the Company shall offer the Executive a consulting agreement which will expire on April 

11

30, 2011. If the Executive’s employment and the Term have been terminated pursuant to a Scheduled Retirement or due to a resignation by the Executive following the Merger effected pursuant to Section 6(c)(iii), and the
Executive has complied with his obligations under this Agreement in all material respects, on the date of such termination of employment, the Company shall offer the Executive a consulting agreement which will expire on the first anniversary of such
termination of employment. The Company shall agree to pay the Executive’s reasonable out-of-pocket expenses associated with the performance of his direct obligations under such consulting agreement, but shall not be entitled to any cash
compensation from the Company during the term of such consulting agreement. As sole consideration for the services performed by the Executive under such consulting agreement, the Company shall permit any stock options held by the Executive to
continue to vest and be exercisable during the term of such consulting agreement. Such consulting agreement shall be in form and substance acceptable to the Company in all other respects. 

      12. Indemnification. The Company shall indemnify the Executive to the full extent provided in the Company’s Amended and Restated Certificate of Incorporation and
Amended and Restated Bylaws and the law of the State of Delaware in connection with his activities as an officer of the Company.

      13. Entire Agreement. The provisions contained herein constitute the entire agreement between the parties with respect to the subject matter hereof and supersede the
Prior Agreement and any and all prior agreements, understandings and communications between the parties, oral or written, with respect to such subject matter. 

      14. Modification. Any waiver, alteration, amendment or modification of any provisions of this Agreement shall not be valid unless in writing and signed by both the
Executive and the Company. 

      15. Severability. If any provision of this Agreement shall be declared to be invalid or unenforceable, in whole or in part, such invalidity or unenforceability shall not
affect the remaining provisions hereof, which shall remain in full force and effect. 

      16. Assignment. The Executive may not assign any of his rights or delegate any of his duties hereunder without the prior written consent of the Company. The Company may
not assign any of its rights or delegate any of its obligations hereunder without the prior written consent of the Executive, except that any successor to the Company by merger or purchase of all or substantially all of the Company’s assets
shall assume this Agreement. 

      17. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the successors in interest of the Executive and the Company. 

      18. Notices. All notices and other communications required or permitted hereunder shall be made in writing and shall be deemed effective when delivered personally or
transmitted by facsimile transmission, one business day after deposit with a nationally recognized overnight courier (with next day delivery specified) and five days after mailing by registered or certified mail:

12

		
	 	if to the Company:

	 	
	 	Sirius Satellite Radio Inc. 
	 	1221 Avenue of the Americas
	 	36th Floor 
	 	New York, New York 10020
	 	Attention: General Counsel 
	 	Telecopier: (212) 584-5353
	 	
	 	if to the Executive: 
	 	
	 	James E. Meyer
	 	Address on file at the offices 
	 	of the Company 

or to such other person or address as either party shall furnish in writing to the other party from time to time. 

      19. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and to be performed
entirely within the State of New York.

      20. Non-Mitigation. The Executive shall not be required to mitigate damages or seek other employment in order to receive compensation or benefits under Section 6 of this
Agreement; nor shall the amount of any benefit or payment provided for under Section 6 of this Agreement be reduced by any compensation earned by the Executive as the result of employment by another employer. 

      21. Arbitration. (a) The Executive and the Company agree that if a dispute arises concerning or relating to the Executive’s employment with the Company, or the
termination of the Executive’s employment, such dispute shall be submitted to binding arbitration under the rules of the American Arbitration Association regarding resolution of employment disputes in effect at the time such dispute arises. The
arbitration shall take place in New York, New York, before a single experienced arbitrator licensed to practice law in New York and selected in accordance with the American Arbitration Association rules and procedures. Except as provided below, the
Executive and the Company agree that this arbitration procedure will be the exclusive means of redress for any disputes relating to or arising from the Executive’s employment with the Company or his termination, including disputes over rights
provided by federal, state, or local statutes, regulations, ordinances, and common law, including all laws that prohibit discrimination based on any protected classification. The parties expressly waive the right to a jury trial, and agree that the
arbitrator’s award shall be final and binding on both parties, and shall not be appealable. The arbitrator shall have discretion to award monetary and other damages, and any other relief that the arbitrator deems appropriate and is allowed by
law. The arbitrator shall have the discretion to award the prevailing party reasonable costs and attorneys’ 

13

fees incurred in bringing or defending an action, and shall award such costs and fees to the Executive in the event the Executive prevails on the merits of any action brought hereunder. 

      (b)     The Company shall pay the
cost of any arbitration proceedings under this Agreement if the Executive prevails
in such arbitration on at least one substantive issue. 

      (c)     The Company and the Executive
agree that the sole dispute that is excepted from Section 21(a) is an action
seeking injunctive relief from a court of competent jurisdiction regarding enforcement
and application of Section 7, 8  or 10 of this Agreement, which action may be
brought in addition to, or in place of, an arbitration proceeding in accordance
with Section 21(a).

      22. Counterparts. This Agreement may be executed in counterparts, all of which shall be considered one and the same agreement, and shall become effective when one or more
counterparts have been signed by each of the parties and delivered to the other party. 

      23. Executive’s Representation. The Executive hereby represents and warrants to Company that he is not now under any contractual or other obligation that is
inconsistent with or in conflict with this Agreement or that would prevent, limit, or impair the Executive’s performance of his obligations under this Agreement. 

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

					
	 	SIRIUS SATELLITE RADIO INC.	 
	 	 	 	 	 
	 	
By:
		 
		
/s/ John H. Schultz
		 
	 	 

		 
		
John H. Schultz
		 
	 	 

		 
		
Senior Vice President,
		 
	 	 

		 
		
Human Resources
		 

		
	
Accepted and Agreed:
		 
	 

		 
	
/s/ James E. Meyer
		 
	
James E. Meyer
		 

14

Exhibit A

AGREEMENT AND RELEASE

     This Agreement and Release, dated as of _________, 200_ (this “Agreement”), is entered into by and between
______________ (the “Executive”) and SIRIUS SATELLITE RADIO INC., and its subsidiaries and affiliated companies (collectively, the “Company”).

     The purpose of this Agreement is to completely and finally settle, resolve, and forever extinguish all obligations, disputes and differences arising out of the Executive’s employment with and
separation from Company. 

     NOW, THEREFORE, in consideration of the mutual promises and covenants contained in this Agreement, the Executive and the Company hereby agree as follows: 

     1. The Executive’s employment with the Company is terminated as of _____________, 200_ (the “Termination Date”).

     2. The Company and the Executive agree that the Executive shall be provided severance pay and other benefits in accordance with the terms of Section [ ] of the Amended and Restated Employment
Agreement, dated as of May _, 2007 (the “Employment Agreement”), between the Executive and the Company; provided that no
such severance shall be paid if the Executive revokes this Agreement pursuant to Section 4 below. The Executive acknowledges and agrees that he is entering into this Agreement in consideration of such severance and the Company’s agreements set
forth herein.

     3. The Executive, for himself, and for his heirs, attorneys, agents, spouse and assigns, hereby waives, releases and forever discharges the Company and its predecessors, successors, and assigns, if
any, as well as its and their officers, directors and executives, stockholders, agents, servants, representatives, and attorneys, and the predecessors, successors, heirs and assigns of each of them (collectively “Released Parties”), from any and all grievances, claims, demands, causes of action, obligations, damages and/or liabilities of any nature whatsoever, whether known or unknown, suspected or claimed,
which the Executive ever had, now has, or claims to have against the Released Parties, by reason of any act or omission occurring before the date hereof, including, without limiting the generality of the foregoing, (a) any act, cause, matter or
thing stated, claimed or alleged, or which was or which could have been alleged in any manner against the Released Parties prior to the execution of this Agreement and (b) all claims for any payment under the Employment Agreement; provided that nothing contained in this Agreement shall affect the Executive’s rights (i) to indemnification from the Company as provided in the Employment Agreement or otherwise; (ii) to coverage
under the Company’s insurance policies covering officers and directors; (iii) to vested, accrued employee benefits which by their express terms extend beyond the Executive’s termination of employment; and (iv) under this Agreement,
including Section 2 above. Without limiting the generality of the foregoing, the Executive expressly releases the Released Parties from any and all claims for 

15

wages, benefits, discrimination, harassment and/or retaliation, under Title VII of the Civil Rights Act of 1964, as amended, the Civil Rights Act of 1991, as amended, the Fair Labor Standards Act of 1938, as amended, the Americans
with Disabilities Act of 1990, the Rehabilitation Act of 1973, the Family and Medical Leave Act of 1992, the Employee Retirement Income Security Act of 1974, the Older Workers Benefit Protection Act of 1990, the National Labor Relations Act, the
Equal Pay Act and the New York State Human Rights Law, as amended, as well as any and all claims arising out of any alleged contract of employment, whether written, oral, express or implied, or any other federal, state or local civil or human rights
or labor law, ordinances, rules, regulations, guidelines, statutes, common law, contract or tort law, arising out of or relating to the Executive’s employment with and/or separation from the Company, and/or any events occurring prior to the
execution of this Agreement. The Executive expressly understands and agrees that the Company’s obligations under this Agreement are in lieu of any and all other amounts to which the Executive may be, is now, or may become entitled to receive
from any of the Released Parties upon any claim whatsoever, including without limitation any claim for employment, reinstatement of employment, payment for salary, back pay, front pay, interest, bonuses, contributions to or vesting in any employee
benefit plan, damages, accrued vacation, accrued sick leave, medical benefits, life insurance coverage, overtime, severance pay, and/or attorneys’ fees or costs, except as are expressly set forth in this Agreement. 

     4. The Executive also specifically acknowledges that he is knowingly and voluntarily waiving and releasing any rights or claims that he has or may have under the Age Discrimination In Employment Act
of 1967, 29 U.S.C. §§ 621-634, as amended (“ADEA”). In accordance with the ADEA, the Company specifically advises the Executive that, and the Executive acknowledges that
he has been advised in writing that: (1) his waiver and release do not apply to any rights or claims that may arise on or after the date the Executive signs this Agreement, (2) he has the right to, and should, consult an attorney before signing this
Agreement, (3) he has twenty-one (21) days to consider this Agreement (although he may execute this Agreement earlier), (4) he has seven (7) days after signing this Agreement to revoke this Agreement, and (5) this Agreement shall not be effective
until the date upon which the revocation period has expired, which shall be the 8th day after the Executive executes this Agreement. The Executive acknowledges that any revocation of
this Agreement must be received by [NAME] within the seven day revocation period. 

      5. The Company, for itself, and for its predecessors, successors, and assigns, if any, as well as its and their officers, directors and Executives, stockholders, agents, servants, representatives, and attorneys, and the
predecessors, successors, heirs and assigns of each of them, hereby waives, releases and forever discharges the Executive and his heirs, attorneys, agents, spouse and assigns (collectively, “Executive Released
Parties”) from any and all grievances, claims, demands, causes of action, obligations, damages and/or liabilities of any nature whatsoever, which the Company ever had, now has, or claims to have against the
Executive Released Parties by reason of any act or omission occurring before the date hereof including, without limiting the generality of the foregoing, any act, cause, matter or thing stated, claimed or alleged of which the Company has actual
knowledge which was or could have been alleged in any manner against the Executive Released Parties prior to the execution of this Agreement. 

16

     6. This release does not affect or impair the Executive’s rights with respect to workman’s compensation or similar claims under applicable law or any claims for benefits incurred under
medical, dental, disability, life or other insurance arising prior to the date hereof.

     7. The Executive warrants that he has not made any assignment, transfer, conveyance or alienation of any potential claim, cause of action, or any right of any kind whatsoever, including but not
limited to, potential claims and remedies for discrimination, harassment, retaliation, or wrongful termination, and that no other person or entity of any kind has had, or now has, any financial or other interest in any of the demands, obligations,
causes of action, debts, liabilities, rights, contracts, damages, costs, expenses, losses or claims which could have been asserted by the Executive against the Company. The Executive also warrants that he has not filed any action, complaint, charge,
grievance or arbitration against any of the Released Parties. 

      8. The Executive shall not make any disparaging remarks about the Company, or its officers, agents, executives, practices or products; provided that the Executive may
provide truthful and accurate facts and opinions about the Company where required to do so by law. Neither the Company nor any of its officers shall make any disparaging remarks, written or oral, about the Executive; provided that the Company and its officers may provide truthful and accurate facts and opinions about the Executive where required to do so by law.

     9. The parties acknowledge that this Agreement is a settlement of disputed potential claims and is not an admission of liability or of the accuracy of any alleged fact or claim. The Company expressly
denies any violation of any federal, state, or local statute, ordinance, rule, regulation, order, common law or other law in connection with the employment and termination of employment of the Executive. The parties expressly agree that this
Agreement shall not be construed as an admission by any of the parties of any violation, liability or wrongdoing, and shall not be admissible in any proceeding as evidence of or an admission by any party of any violation or wrongdoing.

      10. In the event of a dispute concerning the enforcement of this Agreement, the finder of fact shall have the discretion to award the prevailing party reasonable costs and attorneys’ fees incurred in bringing or defending an
action, and shall award such costs and fees to the Executive in the event the Executive prevails on the merits of any action brought hereunder. 

      11. The parties declare and represent that no promise, inducement, or agreement not expressed herein has been made to them. 

     12. This Agreement in all respects shall be interpreted, enforced and governed under the laws of the State of New York and any applicable federal laws relating to the subject matter of this Agreement.
The language of all parts of this Agreement shall in all cases be construed as a whole, according to its fair meaning, and not strictly for or against any of the parties. This Agreement shall be construed as if jointly prepared by the Executive and
the Company. Any uncertainty or ambiguity shall not be interpreted against any one party. 

      13. This Agreement and the Employment Agreement contains the entire agreement of the parties as to the subject matter hereof. No modification or waiver of any of the provisions of 

17

this Agreement shall be valid and enforceable unless such modification or waiver is in writing and signed by the party to be charged, and unless otherwise stated therein, no such modification or waiver shall constitute a
modification or waiver of any other provision of this Agreement (whether or not similar) or constitute a continuing waiver. 

     14. The Executive and the Company represent that they have been afforded a reasonable period of time within which to consider the terms of this Agreement, that they have read this Agreement, and they
are fully aware of its legal effects. The Executive and the Company further represent and warrant that they enter into this Agreement knowingly and voluntarily, without any mistake, duress or undue influence, and that they have been provided the
opportunity to review this Agreement with counsel of their own choosing. In making this Agreement, each party relies upon his or its own judgment, belief and knowledge, and has not been influenced in any way by any representations or statements not
set forth herein regarding the contents hereof by the entities who are hereby released, or by anyone representing them. 

     15. This Agreement may be executed in counterparts, all of which shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each of
the parties and delivered to the other parties. The parties further agree that delivery of an executed counterpart by facsimile shall be as effective as delivery of an originally executed counterpart.

     16. Should any provision of this Agreement be declared or be determined by a forum with competent jurisdiction to be illegal or invalid, the validity of the remaining parts, terms or provisions shall
not be affected thereby and said illegal or invalid part, term, or provision shall be deemed not to be a part of this Agreement. 

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

		
	 	
SIRIUS SATELLITE RADIO INC.
	
	 	 

	
	 	 

	
	 	 

	
	 	
By: _____________________________
	
	 	
        Name:
	
	 	
        Title:

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