Document:

Form of Indemnification Agreement

 Exhibit 10.8 
 FORM OF 
 INDEMNIFICATION AGREEMENT 
 This Agreement made as of                 , 2007, between Zep
Inc., a Delaware corporation (the “Company”) and
                                        
                    , a director, officer, employee or agent of the Company (the “Indemnitee”). 
 WHEREAS, the Company and the Indemnitee are also aware of the exposure to litigation of officers, directors, employees and agents of corporations as such
persons exercise their duties to the Company; 
 WHEREAS, the Company desires to continue to benefit from the services of highly qualified
and experienced persons such as the Indemnitee; and 
 WHEREAS, the Indemnitee desires to serve or to continue to serve the Company as a
director, officer, employee or agent, including service at the request of the Company as a director, officer or trustee of another corporation, joint venture, trust or other enterprise, for so long as the Company continues to provide on an
acceptable basis indemnification against certain liabilities and expenses which may be incurred by the Indemnitee. 
 NOW, THEREFORE, in
consideration of the foregoing premises and the mutual covenants herein contained, the parties hereto agree as follows: 
 1. INDEMNIFICATION. The Company
shall indemnify the Indemnitee with respect to his activities as a director, officer or employee of the Company or as a person who is serving or has served at the request of the Company (“Agent”) as a director, officer or trustee of
another corporation, joint venture, trust or other enterprise against expenses (including attorneys’ fees, judgments, fines, and amounts paid in settlement) actually and reasonably incurred by him (“Expenses”) in connection with any
threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative or investigative a “Proceeding”), to which he was, is, or is threatened to be made a party by reason of facts which include his being or
having been such a director, officer, employee or agent to the extent of the highest and most advantageous to the Indemnitee, as determined by the Indemnitee, of one or any combination of the following: 
 (a) The benefits provided by the Company’s Restated Certificate of Incorporation (the “Certificate of Incorporation”) or By-Laws of the
Company (the “By-Laws”) in effect on the date hereof, a copy of the relevant portions of which are attached hereto as Exhibit I; 
 (b) The benefits provided by the Certificate of Incorporation or By-Laws or their equivalent in effect at the time Expenses are incurred by Indemnitee; 
 (c) The benefits allowable under Delaware law in effect at the date hereof; 
 (d) The benefits allowable
under the law of the jurisdiction under which the Company exists at the time Expenses are incurred by the Indemnitee; 

 (e) The benefits available under liability insurance obtained by the Company; and 
 (f) Such other benefits as may be otherwise available to Indemnitee under then existing practices of the Company. 
 A combination of two or more of the benefits provided by (a) through (f) shall be available only to the extent that the Applicable Document, as
hereafter defined, does not require that the benefits provided therein must be exclusive of other benefits. The document or law providing for the benefits listed in items (a) through (f) above is called the “Applicable Document”
in this Agreement. The Company hereby undertakes to assist Indemnitee, in all proper and legal ways, to obtain the benefits selected by Indemnitee under items (a) through (f) above. 
 2. INSURANCE. The Company shall maintain directors’ and officers’ liability insurance for so long as Indemnitee’s services are covered hereunder, provided
and to the extent that such insurance is available on a commercially reasonable basis. In the event the Company maintains directors’ and officers’ liability insurance, Indemnitee shall be named as an insured in such manner as to provide
Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s officers or directors. However, the Company agrees that the provisions hereof shall remain in effect regardless of whether liability or other
insurance coverage is at any time obtained or retained by the Company; except that any payments made to, or on behalf of, Indemnitee under an insurance policy shall reduce the obligations of the Company hereunder. 
 3. PAYMENT OF EXPENSES. At Indemnitee’s request, the Company shall pay the Expenses when incurred by Indemnitee upon receipt of an undertaking in the form of
Exhibit II attached hereto by or on behalf of Indemnitee to repay such amounts so paid on his behalf if it shall ultimately be determined under the Applicable Document that he is not entitled to be indemnified by the Company for such Expenses. That
portion of Expenses which represents attorneys’ fees and other costs incurred in defending any Proceeding shall be paid by the Company within thirty (30) days of its receipt of such request, together with such reasonable documentation
evidencing the amount and nature of such Expenses as the Company shall require, subject to its also receiving such undertaking. 
 4. ADDITIONAL RIGHTS. The
indemnification provided in this Agreement shall not be deemed exclusive of any other indemnification or rights to which Indemnitee may be entitled and shall continue after Indemnitee has ceased to occupy a position as an officer, director, employee
or agent as described in Section 1 above with respect to Proceedings relating to or arising out of Indemnitee’s acts or omissions during his service in such position. 
 5. NOTICE TO COMPANY. Indemnitee shall provide to the Company prompt written notice of any proceeding brought, threatened, asserted or commenced against Indemnitee with respect to which Indemnitee may assert a right
to indemnification hereunder. Indemnitee shall not effect any settlement without the Company’s written consent, unless Indemnitee shall have determined to undertake his own defense in such matter and has waived the benefits of this Agreement as
to amounts payable with respect to such settlement. The Company shall not settle any Proceeding to which Indemnitee is a party in any manner which would impose any penalty 

 
on Indemnitee without his written consent. Neither Indemnitee nor the Company will unreasonably withhold consent to any proposed settlement. Indemnitee shall
cooperate to the extent reasonably possible with the Company and/or its insurers, in attempts to defend and/or settle such Proceeding. 
 6. ASSUMPTION OF
DEFENSE. Except as otherwise provided below, to the extent that it may wish, the Company jointly with any other indemnifying party similarly notified will be entitled to assume Indemnitee’s defense in any Proceeding, with counsel mutually
satisfactory to Indemnitee and the Company. After notice from the Company to Indemnitee of the Company’s election so to assume such defense, the Company will not be liable to Indemnitee under this Agreement for Expenses subsequently incurred by
Indemnitee in connection with the defense thereof other than reasonable costs of investigation or as otherwise provided below. Indemnitee shall have the right to employ counsel in such Proceeding, but the fees and expenses of such counsel incurred
after notice from the Company of its assumption of the defense thereof shall be at Indemnitee’s expense unless: 
 (a) The employment of
counsel by Indemnitee has been authorized by the Company; 
 (b) Indemnitee shall have reasonably concluded that there may be a conflict of
interest between Indemnitee and the Company in the conduct of the defense of such Proceeding; or 
 (c) The Company shall not in fact have
employed counsel to assume the defense of such Proceeding, in each of which cases the fees and expenses of counsel shall be at the expense of the Company. The Company shall not be entitled to assume the defense of Indemnitee in any Proceeding
brought by or on behalf of the Company or as to which Indemnitee shall have made the conclusion provided for in clause (b) above. 
 7. ARBITRATION AND
ENFORCEMENT. 
 (a) In the event that any dispute or controversy shall arise between Indemnitee and the Company with respect to whether the
Indemnitee is entitled to indemnification in connection with any Proceeding or with respect to the amount of Expenses incurred, such dispute or controversy shall be submitted by the parties to binding arbitration before a single arbitrator at
Atlanta, Georgia. If the parties cannot agree on a designated arbitrator fifteen (15) days after arbitration is requested in writing by either of them, the arbitration shall proceed before an arbitrator appointed by, and in accordance with the
rules then in effect of, one of the following bodies, which shall be chosen by the initiator of such arbitration: 
  

	 	(i)	the American Arbitration Association; 

  

	 	(ii)	the CPR International Institute for Conflict Prevention & Resolution; or 

  

	 	(iii)	Judicial Arbitration and Mediation Services, Inc. 

 The
award shall be rendered in such form that judgment may be entered thereon in any court having jurisdiction thereof. 

 (b) Reasonable expenses incurred by Indemnitee in connection with his request for indemnification
hereunder shall be borne by the Company, unless Indemnitee is determined according to the preceding paragraph of this Section 7 not to be entitled to indemnification for any liability or expense hereunder. In the event that Indemnitee is a
party to or intervenes in any proceeding in which the validity of this Agreement is at issue or seeks an award in arbitration pursuant to the preceding paragraph of this Section 7 to enforce his rights under, or to recover damages for breach
of, this Agreement, Indemnitee, if he prevails in whole or in part in such action, shall be entitled to recover from the Company and shall be indemnified by the Company against any expenses actually and reasonably incurred by him. 
 (c) In any proceeding in which the validity or enforceability of this Agreement is at issue, or in which Indemnitee seeks an award in arbitration to
enforce his rights hereunder, the Company shall have the burden of proving that Indemnitee is not entitled to indemnification hereunder. 
 8. EXCLUSIONS. No
indemnification, reimbursement or payment shall be required of the Company hereunder: 
 (a) With respect to any claim as to which Indemnitee
shall have been adjudged by a court of competent jurisdiction to have acted with bad faith, willful misfeasance, or willful disregard of his duties, except to the extent that such court shall determine upon application that, despite the adjudication
of liability, but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnify for such expenses as the court shall deem proper; or 
 (b) With respect to any obligation of Indemnitee under Section 16(b) of the Securities Exchange Act of 1934, as amended. 
 9. EXTRAORDINARY TRANSACTIONS. The Company covenants and agrees that, in the event of any merger, consolidation or reorganization in which the Company is not the
surviving entity, any sale of all or substantially all of the assets of the Company or any liquidation of the Company (each such event is hereinafter referred to as an “extraordinary transaction”), the Company shall use its best efforts
to: 
 (a) Obtain insurance in Indemnitee’s favor from a reputable insurance carrier in reasonable amounts (if such insurance is
available at commercially reasonable rates) for a period of not less than one (1) year from the date of such extraordinary transaction against any liability to which the indemnification provided in this Agreement relates; 
 (b) Have the obligations of the Company under this Agreement expressly assumed by the survivor, purchaser or successor, as the case may be, in such
extraordinary transaction; or 
 (c) Otherwise adequately provide for the satisfaction of the Company’s obligations under this
Agreement, in a manner acceptable to Indemnitee. 
 10. NO PERSONAL LIABILITY. Indemnitee agrees that neither the Directors, nor any officer, employee,
representative or agent of the Company shall be personally liable for the satisfaction of the Company’s obligations under this Agreement, and Indemnitee shall look solely to the assets of the Company for satisfaction of any claims hereunder.

 11. SEVERABILITY. If any provision, phrase, or other portion of this Agreement should be determined by any court of
competent jurisdiction to be invalid, illegal or unenforceable, in whole or in part, and such determination should become final, such provision, phrase or other portion shall be deemed to be severed or limited, but only to the extent required to
render the remaining provisions and portions of the Agreement enforceable, and the Agreement as thus amended shall be enforced to give effect to the intention of the parties insofar as that is possible. 
 12. GOVERNING LAW. The parties hereto agree that this Agreement shall be construed and enforced in accordance with and governed by the laws of the State of Delaware.

 13. NOTICES. All notices, requests, demands and other communications hereunder shall be in writing and shall be considered to have been duly given if
delivered by hand and receipted for by the party to whom the notice, request, demand or other communication shall have been directed, or mailed by registered mail with postage prepaid: 
  

	 	(a)	If to the Company, to: 

 Zep Inc.

 4401 Northside Parkway, Suite 700 
 Atlanta, Georgia 30327-3093 
 Attention: Secretary 
  

	 	(b)	If to Indemnitee, to: 

  

					
	  
	 		 	
	  
	 		 	
	  
	 		 	
	  
	 		 	

 14. TERMINATION. This Agreement may be terminated by either party upon not less than sixty (60) days prior
written notice delivered to the other party, but such termination shall not in any way diminish the obligations of Company hereunder with respect to Indemnitee’s activities prior to the effective date of termination. Indemnitee’s right to
indemnification and advancement of expenses pursuant to this Agreement shall continue regardless of whether Indemnitee has ceased for any reason to be a director of the Company and shall inure to the benefit of the heirs of Indemnitee and the
executors and administrators of Indemnitee’s estate. 
 This Agreement is and shall be binding upon and shall inure to the benefits of
the parties hereto and their respective heirs, executors, administrators, successors and assigns. 
 IN WITNESS WHEREOF, the undersigned have
executed this Agreement as of the date first above written. 
  

							
	INDEMNITEE	 		 	ZEP INC.
				
	  
	 		 	Name:	 	 
	Name:	 		 	Title:	 	
		 		 		 	

 EXHIBIT I 
 RESTATED CERTIFICATE OF INCORPORATION 
 ARTICLE X 
 A director of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as
a director, except for liability (i) for any breach of the director’s duty of loyalty to the Corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation
of law, (iii) under Section 174 of the Delaware General Corporation Law, or (iv) for any transaction from which the director derived an improper personal benefit. If the Delaware General Corporation Law is amended to authorize
corporate action further eliminating or limiting the personal liability of directors, then the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by the Delaware General Corporation Law, as so
amended. 
 Any repeal or modification of the foregoing paragraph by the stockholders of the Corporation shall not adversely affect any right
or protection of a director of the Corporation existing at the time of such repeal or modification. 
 BYLAWS 
 ARTICLE VII—INDEMNIFICATION OF DIRECTORS AND OFFICERS 
 Section 1. Right to Indemnification. 
 Each person who was or is made a party or is
threatened to be made a party to or is otherwise involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative (hereinafter a “proceeding”), by reason of the fact that he or she is or was a director
or an officer of the Corporation or is or was serving at the request of the Corporation as a director, officer or trustee of another corporation or of a partnership, joint venture, trust or other enterprise, including service with respect to an
employee benefit plan (hereinafter an “indemnitee”), whether the basis of such proceeding is alleged action in an official capacity as a director, officer or trustee or in any other capacity while serving as a director, officer or trustee,
shall be indemnified and held harmless by the Corporation to the fullest extent permitted by Delaware law, as the same exists or may hereafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the
Corporation to provide broader indemnification rights than such law permitted the Corporation to provide prior to such amendment), against all expense, liability and loss (including attorneys’ fees, judgments, fines, ERISA excise taxes or
penalties and amounts paid in settlement) reasonably incurred or suffered by such indemnitee in connection therewith; provided, however, that, except as provided in Section 3 of this Article VII with respect to proceedings to enforce
rights to indemnification, the Corporation shall indemnify any such indemnitee in connection with a proceeding (or part thereof) initiated by such indemnitee only if such proceeding (or part thereof) was authorized by the Board of Directors of the
Corporation. 

 Section 2. Right to Advancement of Expenses. 
 In addition to the right to indemnification conferred in Section 1 of this Article VII, an indemnitee shall also have the right to be paid by
the Corporation the expenses (including attorney’s fees) incurred in defending any such proceeding in advance of its final disposition (hereinafter an “advancement of expenses”); provided, however, that, if the Delaware General
Corporation Law requires, an advancement of expenses incurred by an indemnitee in his or her capacity as a director or officer (and not in any other capacity in which service was or is rendered by such indemnitee, including, without limitation,
service to an employee benefit plan) shall be made only upon delivery to the Corporation of an undertaking (hereinafter an “undertaking”), by or on behalf of such indemnitee, to repay all amounts so advanced if it shall ultimately be
determined by final judicial decision from which there is no further right to appeal (hereinafter a “final adjudication”) that such indemnitee is not entitled to be indemnified for such expenses under this Section 2 or otherwise.

 Section 3. Right of Indemnitee to Bring Suit. 
 If a claim under Section 1 or 2 of this Article VII is not paid in full by the Corporation within sixty (60) days after a written claim has been
received by the Corporation, except in the case of a claim for an advancement of expenses, in which case the applicable period shall be twenty (20) days, the indemnitee may at any time thereafter bring suit against the Corporation to recover
the unpaid amount of the claim. If successful in whole or in part in any such suit, or in a suit brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the indemnitee shall be entitled to be paid
also the expense of prosecuting or defending such suit. In (i) any suit brought by the indemnitee to enforce a right to indemnification hereunder (but not in a suit brought by the indemnitee to enforce a right to an advancement of expenses) it
shall be a defense that, and (ii) in any suit brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the Corporation shall be entitled to recover such expenses upon a final adjudication that,
the indemnitee has not met any applicable standard for indemnification set forth in the Delaware General Corporation Law. Neither the failure of the Corporation (including its directors who are not parties to such action, a committee of such
directors, independent legal counsel, or its stockholders) to have made a determination prior to the commencement of such suit that indemnification of the indemnitee is proper in the circumstances because the indemnitee has met the applicable
standard of conduct set forth in the Delaware General Corporation Law, nor an actual determination by the Corporation (including its directors who are not parties to such action, a committee of such directors, independent legal counsel, or its
stockholders) that the indemnitee has not met such applicable standard of conduct, shall create a presumption that the indemnitee has not met the applicable standard of conduct or, in the case of such a suit brought by the indemnitee, be a defense
to such suit. In any suit brought by the indemnitee to enforce a right to indemnification or to an advancement of expenses hereunder, or brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the
burden of proving that the indemnitee is not entitled to be indemnified, or to such advancement of expenses, under this Article VII or otherwise shall be on the Corporation. 

 Section 4. Non-Exclusivity of Rights. 
 The rights to indemnification and to the advancement of expenses conferred in this Article VII shall not be exclusive of any other right which any person
may have or hereafter acquire under any statute, the Corporation’s certificate of incorporation, By-laws, agreement, vote of stockholders or directors or otherwise. 
 Section 5. Insurance. 
 The Corporation may maintain insurance, at its expense, to protect
itself and any director, officer, employee or agent of the Corporation or another corporation, partnership, joint venture, trust or other enterprise against any expense, liability or loss, whether or not the Corporation would have the power to
indemnify such person against such expense, liability or loss under the Delaware General Corporation Law. 
 Section 6.
Indemnification of Employees and Agents of the Corporation. 
 The Corporation may, to the extent authorized from time to time by the
Board of Directors, grant rights to indemnification and to the advancement of expenses to any employee or agent of the Corporation to the fullest extent of the provisions of this Article with respect to the indemnification and advancement of
expenses of directors and officers of the Corporation. 
 Section 7. Nature of Rights. 
 The rights conferred upon indemnitees in this Article VII shall be contract rights and such rights shall continue as to an indemnitee who has ceased to be
a director, officer or trustee and shall inure to the benefit of the indemnitee’s heirs, executors and administrators. Any amendment, alteration or repeal of this Article VII that adversely affects any right of an indemnitee or its successors
shall be prospective only and shall not limit or eliminate any such right with respect to any proceeding involving any occurrence or alleged occurrence of any action or omission to act that took place prior to such amendment or repeal. 

 EXHIBIT II 
 FORM OF UNDERTAKING 
 THIS UNDERTAKING has been entered into by
                                        
                     (hereinafter “Indemnitee”) pursuant to an Indemnification Agreement dated
                 2007 (the “Indemnification Agreement”) between Zep Inc. (hereinafter “Company”), a Delaware corporation and Indemnitee.

 WITNESSETH: 
 WHEREAS,
pursuant to the Indemnification Agreement, Company agreed to pay Expenses (within the meaning of the Indemnification Agreement) as and when incurred by Indemnitee in connection with any threatened, pending, or completed action, suit, or proceeding,
whether civil, criminal, administrative or investigative, to which indemnitee was, is, or is threatened to be made a party by reason of facts which include Indemnitee’s being or having been a director, officer or employee of the Company or a
person who is serving or has served at the request of the Company as a director, officer, or trustee of another corporation, joint venture, trust or other enterprise; 
 WHEREAS, a claim has been asserted against the Indemnitee and the Indemnitee has notified the company thereof in accordance with the terms of Section 6 of the Indemnification Agreement (hereinafter the
“Proceeding”); 
 WHEREAS, Indemnitee believes that Indemnitee should prevail in this proceeding and it is in the interest of both
the Indemnitee and the Company to defend against the claim against Indemnitee thereunder. 
 NOW THEREFORE, Indemnitee hereby agrees that in
consideration of the Company’s advance payment of Indemnitee’s Expenses incurred prior to a final disposition of the proceeding, Indemnitee hereby undertakes to reimburse the Company for any and all legal fees, costs and expenses paid by
Company on behalf of the Indemnitee prior to a final disposition of the Proceeding in the event that Indemnitee is determined under the Applicable Document (within the meaning of the Indemnification Agreement) not to be entitled to indemnification.
Such payments or arrangements for payments shall be consummated within ninety (90) days after a determination that Indemnitee is not entitled to indemnification and reimbursement pursuant to the Indemnification Agreement and applicable law.

 IN WITNESS WHEREOF, the undersigned has set his/her hand this      day of
            , 20    . 
  

	
	  

	Name:Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (“Agreement”) is entered into by and
between BLOCKBUSTER INC. (“Blockbuster” or the “Company”), and THOMAS CASEY (“Executive”). Blockbuster and Executive may hereinafter be referred to jointly as the “Parties.” 
 The Parties to this Agreement, in consideration of the mutual covenants contained herein, agree upon the following terms of employment of Executive by
the Company: 
 1. Effective Date and Term. Executive’s employment with the Company shall commence on September 12,
2007 (the “Effective Date”), provided Executive executes this Agreement and delivers it to the Company no later than September 28, 2007. Subject to the terms and conditions herein, the Company hereby employs Executive, and Executive
hereby accepts employment for a term commencing on the Effective Date and continuing for a period of three (3) years (the “Term of Employment”). 
 2. Duties. Executive will serve the Company in the capacity of Executive Vice President and Chief Financial Officer and, in that capacity, Executive will perform his duties to the best of his abilities,
subject to the oversight of the Company’s Chairman of the Board of Directors (the “Board”) and Chief Executive Officer (the “Chairman and CEO”). The Company agrees that Executive shall have duties and responsibilities
consistent with the positions set forth above in a company the size and of the nature of Blockbuster and shall at all times have such discretion and authority as is required in the carrying out of Executive’s duties in a proper and efficient
manner, subject to such limits as the Chairman and CEO or the Board may impose through the Company’s authorizing resolutions or otherwise. 
 During the Term of Employment, Executive shall devote all of his professional attention, on a full time basis, to the business and affairs of the Company and shall use his best efforts to advance the best interest of the Company and shall
comply with all of the policies of the Company, including, without limitation, such policies with respect to legal compliance, conflicts of interest, confidentiality and business ethics as are from time to time in effect. 
 During the Term of Employment, Executive shall not, without the prior approval of the Board, which approval will not be unreasonably withheld,
(a) directly or indirectly render services to, or otherwise act in a business or professional capacity on behalf of or for the benefit of, any other “Person” (as defined below) as an employee, advisor, member of a board or similar
governing body, independent contractor, agent, consultant, representative or otherwise, whether or not compensated, or (b) accept appointment to or work in any capacity for any charitable or not-for-profit organization; and, in the case of
clauses (a) and (b), to the extent Board approval is granted for Executive’s engagement in any such activity, Executive shall only engage in such activity to the extent that such activity does not conflict or interfere with the performance
of Executive’s duties to the Company. Executive shall be entitled to manage his personal investments and affairs and to engage in public speaking, provided that such activities do not conflict or interfere with the performance of
Executive’s duties. Notwithstanding the foregoing, Executive may continue to provide service in his current capacity to the entities and organizations listed on Exhibit A to this Agreement, provided that such activities do not conflict
or interfere with the performance of Executive’s duties to the Company. “Person” or “person” as 

			
	EMPLOYMENT AGREEMENT	  	Page 1

 
used in this Agreement means any individual, partnership, limited partnership, corporation, limited liability company, trust, estate, cooperative,
association, organization, proprietorship, firm, joint venture, joint stock company, syndicate, company, committee, government or governmental subdivision or agency, or other entity. 
 3. Compensation. 
 A. Sign-On Bonus. Upon execution of this Agreement, the Company shall pay to Executive a lump sum cash bonus in the amount of $200,000.00, subject to normal withholdings (the “Sign-On Bonus”). Executive agrees that if
Executive incurs a Voluntary Termination (as defined in Paragraph 4.C. of this Agreement) or a For Cause Termination (as defined in Paragraph 4.A. of this Agreement) prior to the one year anniversary of the Effective Date, Executive will repay a
pro-rata portion of Sign-on Bonus to the Company within ten (10) days following Executive’s Date of Termination (as defined in Paragraph 4.F. of this Agreement). 
 B. Salary. For all duties to be performed by Executive in any capacity hereunder, Executive shall be paid a base salary
(“Base Salary”) at an annual rate, to be determined by the Board, of not less than $500,000.00 per year, payable in accordance with the normal payroll practices and procedures of the Company and subject to normal withholdings. 

C. Bonus Compensation. 
 (1) During the Term of Employment, Executive shall be entitled to receive, in addition to his Base Salary, an annual bonus (each, an “Annual Bonus”) in accordance with the terms of the Company’s Senior
Executive Annual Performance Bonus Plan, as such plan may be amended from time to time (the “Bonus Plan”) and the provisions of this Paragraph 3.C. Executive’s target Annual Bonus for each year (“Target Bonus”) will be
60% of Executive’s Base Salary in effect for the calendar year to which such Annual Bonus relates. Executive’s Annual Bonus will be paid to Executive no later than March 15 of the calendar year following the calendar year to which the
Annual Bonus relates. 
 (2) Notwithstanding those provisions of Paragraph 3.C.(1) above or of the Bonus Plan to the
contrary, for calendar year 2007, Executive will receive a guaranteed Annual Bonus in an amount equal to $100,000.00; provided, that, to the extent Executive would have been entitled, pursuant to the terms of the Bonus Plan, to an amount greater
than $100,000.00 with respect to calendar year 2007 on a non-prorated basis, Executive shall be entitled to receive such greater amount. 
 D. Stock Options. On the Effective Date, Executive shall be granted stock options to purchase an aggregate of 1,500,000 Class A shares of the common stock, par value $0.01 per share, of the Company (the
“Common Stock”), subject to adjustment in accordance with the applicable provisions of the Company’s 2004 Long-Term Management Incentive Plan (the “2004 Plan”). Such stock options shall vest over a three (3) year
period, with one-third of the stock options vesting at each anniversary of the Effective Date. The term of such stock options will expire (and the stock options will cease to be exercisable) on the fifth anniversary of the Effective Date. Except as
otherwise provided herein, the stock options will be governed by the terms and provisions of the 2004 Plan, and the exercise price applicable to such stock options shall be determined in accordance with the following provisions: 
 (1) One-third of the stock options will be granted at an exercise price equal to the Fair Market Value (as defined in the 2004 Plan) of
shares of the Company’s Common Stock on the Effective Date; 

			
	EMPLOYMENT AGREEMENT	  	Page 2

 (2) One-third of the stock options will be granted at an exercise price equal to the
exercise price determined in Paragraph 3.D.(1) above multiplied by 115%; and 
 (3) One-third of the stock options will
be granted at an exercise price equal to the exercise price determined in Paragraph 3.D.(1) above multiplied by 132%. 
 E. Other Benefits. Executive shall be eligible to participate in or receive benefits under any employee benefit plan, program, or arrangement currently available to other executives of the Company, and/or made available by the
Company in the future to its executives and key management employees, subject to and on a basis consistent with the terms, conditions, and overall administration of such plans and arrangements, provided however that Executive shall not be entitled
to participate in any (i) cash or equity benefit, incentive, bonus or other compensation arrangement of the Company other than as provided in and pursuant to Paragraphs 3.C. and 3.D. hereof, or (ii) any severance plan of the Company.
In addition to the benefits described in the preceding sentence (and to the extent not provided thereunder), Executive shall be entitled to receive an executive-level relocation package to Dallas, Texas (consistent with the Company’s relocation
policy for executives), an automobile allowance of $300.00 per month, and automobile insurance coverage for one vehicle. 
 F. Expense Reimbursement. Executive shall be entitled to reasonable reimbursement of all reasonable expenses incurred on behalf of the Company during the Term of Employment, in accordance with the Company’s standard policies and
procedures, which provide an objectively determinable nondiscretionary definition of the expenses eligible for reimbursement. Notwithstanding any provision of this Agreement to the contrary, the amount of expenses for which Executive is eligible to
receive reimbursement during any calendar year shall not affect the amount of expenses for which Executive is eligible to receive reimbursement during any other calendar year within the Term of Employment. Reimbursement of expenses under this
Paragraph 3.F. shall be made on or before the last day of the calendar year following the calendar year in which the expense was incurred. Executive is not permitted to receive a payment or other benefit in lieu of reimbursement under this
Paragraph 3.F. 
 4. Termination. Unless otherwise agreed to in writing by the Company and Executive, Executive’s
employment hereunder may be terminated under the following circumstances: 
 A. For Cause Termination. The Board may
terminate Executive’s employment with the Company for Cause, as defined in the following sentence. For purposes of this Agreement, (1) “Cause” means: (a) an act of dishonesty in the course of employment that is detrimental
to the best interests of the Company or any of its affiliates; (b) willful conduct of Executive involving any immoral acts that impairs the reputation of the Company or any of its affiliates; (c) willful disloyalty to the Company,
(d) willful refusal or failure of Executive to obey the lawful directions of the Board or the Chairman and CEO, (e) the neglect of duties and responsibilities assigned to Executive, 

			
	EMPLOYMENT AGREEMENT	  	Page 3

 (f) the indictment of Executive of any felony under federal, state or local law or a reasonable
determination of the Board that Executive engaged in the act of sexual harassment or violated Federal securities laws, (g) the repeated use by Executive of a controlled substance without a prescription or the repeated use of alcohol that
impairs Executive’s ability to carry out his duties and responsibilities, (h) violation by Executive of any of the Company’s material policies, or (i) material breach of this Agreement; and (2) a “For Cause
Termination” is any termination for Cause in accordance herewith. 
 B. Involuntary Termination. The Board may,
at any time, terminate Executive’s employment with the Company without Cause through an Involuntary Termination. An “Involuntary Termination” is any termination of Executive’s employment by the Board that does not meet the
definition of a For Cause Termination and does not include a termination by reason of Executive’s death or Disability. 
 C. Voluntary Termination. Executive may terminate his employment with the Company for any reason or no reason (a “Voluntary Termination”) upon giving the Company not less than thirty (30) days written notice in advance
of any proposed Date of Termination (as defined in Paragraph 4.F.). 
 D. Death or Disability. Executive’s
employment will automatically terminate upon Executive’s death or upon a determination that he has incurred a “Disability.” For the purposes of this Agreement, “Disability” means, as reasonably determined by the Board,
Executive’s physical or mental incapacity that renders him unable to perform the essential functions of Executive’s duties to the Company for sixty (60) consecutive days or eighty (80) days in any twelve (12) month period,
even with reasonable accommodation. 
 E. Notice of Termination. Any termination occurring in accordance with the
terms of this Paragraph 4 (other than by reason of Executive’s death) shall be communicated by a Notice of Termination to the other Party delivered in accordance with Paragraph 7 of this Agreement. For purposes of this Agreement, a “Notice
of Termination” means a written notice that (i) indicates the specific termination provision of this Agreement relied upon; (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for the
termination; and (iii) specifies the date such termination shall be effective (the “Date of Termination”). The failure of a Party to set forth in the Notice of Termination any fact or circumstance that contributes to a showing of the
basis for termination shall not waive any right of such Party hereunder or later preclude such Party from asserting such fact or circumstance in enforcing its rights hereunder. 
 F. Date of Termination/Disability. “Date of Termination” means the date of receipt of the Notice of Termination or any
later date specified therein, as the case may be; provided, however, that if Executive’s employment is terminated by reason of his death, the Date of Termination shall be the date of death of Executive; provided, further that, in the case of a
termination due to Executive’s Disability, the Date of Termination is the end of any sixty (60) day period or the eighty-first day in any twelve (12) month period that Executive is absent from work by reason of Disability. 

			
	EMPLOYMENT AGREEMENT	  	Page 4

 5. Obligations of the Company in the Event of Termination. In the event of the termination
of Executive’s employment hereunder, all rights of Executive under this Agreement, including all rights to compensation, shall end and Executive shall only be entitled to be paid the amounts set forth in this Paragraph 5 below; provided, that,
the obligation of the Company to make any payment required pursuant to this Paragraph 5 (other than any amounts of Executive’s Base Salary previously earned and accrued and any amounts payable on account of accrued but unused vacation) is
conditioned upon (i) execution and delivery by Executive to the Company of a release agreement in favor of the Company, its affiliates and their respective officers, directors, employees, agents and equity holders in respect of Executive’s
employment with the Company and the termination thereof in a form substantially as set forth in Exhibit B attached hereto (the “Release”), and (ii) such Release, once executed by Executive and delivered to the Company,
becoming irrevocable and final under applicable law. Promptly following Executive’s termination, the Company shall deliver to him an execution-ready Release and, in the event that Executive fails to deliver the executed Release to Company or
the Executive delivers an executed Release but such Release does not become irrevocable and final under applicable law on or before the last day of the period during which payment may be made under the following provisions of this Paragraph 5, then
Executive shall forfeit any payment required pursuant to this Paragraph 5 (other than any amounts of Executive’s Base Salary previously earned and accrued and any amounts payable on account of accrued but unused vacation). 
 A. For Cause or Voluntary Termination or Termination Due to Executive’s Death or Disability. 
 (1) If Executive’s employment is terminated as a result of a For Cause Termination or a Voluntary Termination, or due to
Executive’s death or Disability, Executive will then, in lieu of any other payments of any kind (including without limitation, any severance payments), be entitled to receive, within thirty (30) days following the Date of Termination, the
following: 
 (a) Payment of any unpaid Base Salary through the Date of Termination; 
 (b) Payment for any vacation time accrued and unused as of the Date of Termination, pursuant to Company policy; and 
 (c) Executive’s vested stock options may be exercised in accordance with the applicable provisions of the 2004 Plan, and all
unvested stock options shall be forfeited. 
 (2) If Executive’s employment is terminated as a result of a For Cause
Termination or a Voluntary Termination, or due to Executive’s death or Disability, coverage under all of the Company’s benefit plans and programs in which Executive is entitled to participate under Paragraph 3.E. above will terminate
as of the Date of Termination except to the extent expressly provided in such plans, programs, or applicable law. 
 B.
Involuntary Termination. 

			
	EMPLOYMENT AGREEMENT	  	Page 5

 (1) If Executive’s employment is terminated as a result of an Involuntary
Termination, Executive will then, in lieu of any other payments of any kind (including without limitation, any severance payments), be entitled to receive, within thirty (30) days following the Date of Termination, the following: 
 (a) Payment of any unpaid Base Salary through the Date of Termination; 
 (b) Payment for any vacation time accrued and unused as of the Date of Termination, pursuant to Company policy; 
 (c) Executive’s vested stock options may be exercised in accordance with the applicable provisions of the 2004 Plan, and all
unvested stock options shall be forfeited; and 
 (d) Payment of a lump sum amount equal to twelve (12) months’
worth of Executive’s Base Salary, as in effect on the Date of Termination. 
 (2) If Executive’s employment is
terminated as a result of an Involuntary Termination, coverage under all of the Company’s benefit plans and programs in which Executive is entitled to participate under Paragraph 3.E. above will terminate as of the Date of Termination
except to the extent expressly provided in such plans, programs, or by applicable law. 
 6. Indemnification; Directors’ and
Officers’ Liability Insurance. As and to the extent provided in the Company’s bylaws, Executive will be entitled to the indemnification provided to other executive officers and directors of the Company. In addition, the Company
agrees to include Executive as a covered person on a directors’ and officers’ liability insurance policy or policies covering Executive to the same extent that the Company provides such coverage for its other executive officers and
directors. 
 7. Notices. Any and all notices required or permitted under this Agreement shall be in writing and shall be
personally delivered, or mailed by expedited overnight delivery service, or sent by facsimile (provided that the sender confirms the facsimile by sending an original confirmation copy thereof by certified or registered mail or expedited delivery
service within two (2) business days after transmission thereof) to the respective Parties at the following addresses unless and until a different address has been designated by written notice to the other Party, as follows: 
 Notices to Blockbuster: 
 Blockbuster
Inc. 
 Attn: Chairman and CEO 
 1201 Elm Street 
 Dallas, Texas 75270 
 Facsimile No.: [REDACTED] 

			
	EMPLOYMENT AGREEMENT	  	Page 6

 Notices to Executive: 
 Thomas Casey 
 [REDACTED] 
 Any notice shall be deemed to have been given at the time of personal delivery or, in the case of facsimile, upon transmission
(provided confirmation is sent as described above) or, in the case of expedited delivery via overnight service upon receipt thereof. 
 8.
Non-Disclosure/Non-Disparagement. 
 A. During the Term of Employment and at all times thereafter, Executive shall
(1) hold in a fiduciary capacity for the benefit of the Company and each of its affiliates, all secret or confidential information, knowledge or data, including, without limitation, trade secrets, sources of supplies and materials, customer
lists and their identity, designs, production and design techniques and methods, identity of investments, identity of contemplated investments, business opportunities, valuation models and methodologies, processes, technologies, and any intellectual
property relating to the business of the Company or its affiliates, and their respective businesses, (a) obtained by Executive during Executive’s employment by the Company and any of the subsidiaries of the Company, and (b) not
otherwise in the public domain (“Confidential Information”); and (2) comply with any confidentiality obligations of the Company to a third party. Executive shall not, without the prior written consent of the Company (acting at the
direction of the Board): (i) except to the extent compelled pursuant to the order of a court or other body having jurisdiction over such matter or based upon the advice of counsel that such disclosure is legally required, communicate or divulge
any Confidential Information to anyone other than the Company and those designated by the Company; or (ii) use any Confidential Information for any purpose other than the performance of his duties pursuant to this Agreement. Executive will
reasonably assist the Company or its designee, at the Company’s expense, in obtaining a protective order, other appropriate remedy or other reliable assurance that confidential treatment will be accorded any Confidential Information disclosed
pursuant to the terms of this Agreement. 
 B. Executive agrees not to disparage the Company, any of its affiliates or any of
their respective officers or directors at any time during or after his Term of Employment hereunder. 
 C. All processes,
technologies, intellectual property and inventions (collectively, “Inventions”) conceived, developed, invented, made or found by Executive, alone or with others, during the Term of Employment that are within the scope of the
Company’s business operations, whether or not patentable and whether or not on the Company’s or any of its subsidiaries’ time or with the use of the Company’s or any of its subsidiaries’ facilities or materials, shall be the
property of the Company or its respective subsidiary, as the case may be, and shall be promptly and fully disclosed by Executive to 

			
	EMPLOYMENT AGREEMENT	  	Page 7

 
the Company. Executive shall perform all reasonably necessary acts (including, without limitation, executing and delivering any confirmatory assignments,
documents, or instruments requested by the Company or any of its subsidiaries) to vest title to any such Invention in the Company or the applicable subsidiary and to enable the Company or the applicable subsidiary, at their expense, to secure and
maintain domestic and/or foreign patents or any other rights for such Inventions. 
 9. Non-Compete. 
 A. Unless Executive’s employment is terminated by the Company as a result of an Involuntary Termination, Executive will not, for a
period of one (1) year following the Date of Termination, either directly or indirectly, as principal, agent, owner, employee, partner, investor, stockholder (other than solely as a holder of not more than 1% of the issued and outstanding
shares of any public entity), consultant, advisor or otherwise howsoever own, operate, carry on or engage in the operation of or have any financial interest in or provide, directly or indirectly, financial assistance to or lend money to or guarantee
the debts or obligations of any Person carrying on or engaged in any business that is similar to or competitive with the business conducted by the Company or any of its subsidiaries, whether with respect to customers, sources of supply or otherwise.

 B. Executive covenants and agrees with the Company and its subsidiaries that, during the Term of Employment and for one
(1) year thereafter, Executive shall not, directly or indirectly, for himself or for any other Person: 
 (1) solicit,
interfere with or endeavor to entice away from the Company or any of its subsidiaries or affiliates, any customer or client; 
 (2) attempt to direct or solicit any customer or client away from the Company or any of its subsidiaries or affiliates; or 
 (3) interfere with, entice away or otherwise attempt to induce any person who is then or has been within six (6) months prior thereto an employee of the Company or any of its subsidiaries or affiliates to terminate his/her employment
with the Company or any of its subsidiaries or affiliates. 
 Executive represents to and agrees with the Company that the enforcement of the restrictions
contained in Paragraph 8 and Paragraph 9 (i.e., the Non-Disclosure, Non-Disparagement and Non-Compete provisions of this Agreement) would not be unduly burdensome to Executive and that such restrictions are reasonably necessary to protect the
legitimate interests of the Company. Executive agrees that the remedy of damages for any breach by Executive of the provisions of either of these paragraphs may be inadequate and that the Company shall be entitled to seek injunctive relief, without
posting any bond, and Executive agrees not to oppose granting of such relief on the grounds that monetary damages would adequately compensate the Company. This Paragraph 9 constitutes an independent and separable covenant that shall be enforceable
notwithstanding any right or remedy that the Company may have under any other provision of this Agreement or otherwise. 
  

			
	EMPLOYMENT AGREEMENT	  	Page 8

 10. Return of Property. All documents, data, recordings, or other property, whether
tangible or intangible, including all information stored in electronic form, obtained or prepared by or for Executive and utilized by Executive in the course of his employment with the Company or any of its affiliates shall remain the exclusive
property of the Company. Executive shall return such property that is in his possession or control promptly after receipt of a written request from the Company. Anything to the contrary notwithstanding, nothing in this Paragraph 10 shall prevent
Executive from retaining a home computer and security system, papers and other materials of a personal nature, including personal diaries, calendars and Rolodexes, information relating to his compensation or relating to reimbursement of expenses,
information that Executive reasonably believes may be needed for tax purposes, and copies of plans, programs and agreements relating to Executive’s employment. 
 11. Litigation. Executive agrees that, during the Term of Employment and continuing until the end of the one (1) year period following Executive’s Date of Termination, and, if longer, during
the pendancy of any litigation or other proceeding, Executive shall not communicate with anyone (other than his attorneys and tax and/or financial advisors and except to the extent Executive determines in good faith is necessary to the performance
of his duties hereunder) with respect to the facts or subject matter of any pending or potential litigation, or regulatory or administrative proceeding involving the Company or any of its affiliates, other than any litigation or other proceeding in
which Executive is a party-in-opposition, without giving prior notice to the Company or the Company’s counsel. In addition, during the Term of Employment and continuing until the end of the one (1) year period following Executive’s
Date of Termination, in the event that any other party attempts to obtain information or documents from Executive (other than in connection with any litigation or other proceeding in which Executive is a party-in-opposition) with respect to matters
Executive believes in good faith are related to such litigation or other proceeding, Executive shall promptly so notify the Company’s counsel. Executive agrees to cooperate, in a reasonable and appropriate manner, with the Company and its
attorneys, both during and after the termination of his employment, in connection with any litigation or other proceeding arising out of or relating to matters in which Executive was involved prior to the termination of his employment to the extent
the Company pays all expenses Executive incurs in connection with such cooperation and to the extent such cooperation does not unduly interfere (as determined by Executive in good faith) with Executive’s personal or professional schedule.

 12. Arbitration. Except as provided otherwise in Paragraph 9, all claims, demands, causes of action, disputes, controversies
or other matters in question (“Claims”), whether or not arising out of this Agreement or the Executive’s service (or termination from service) with the Company, whether arising in contract, tort or otherwise and whether provided by
statute, equity or common law, that the Company may have against the Executive or that the Executive may have against the Company, or its parents, subsidiaries or affiliates, or against each of the foregoing entities’ respective officers,
directors, employees or agents in their capacity as such or otherwise, shall be submitted to binding arbitration, if such Claim is not resolved by the mutual written agreement of the Executive and the Company, or otherwise, within thirty
(30) days after notice of the dispute is first given. Claims covered by this Paragraph 12 include, without limitation, claims by the Executive for breach of this Agreement, wrongful termination, discrimination (based on age, race, sex,
disability, national origin, sexual orientation, or any other factor), harassment and retaliation. Any arbitration shall be conducted in accordance with 

			
	EMPLOYMENT AGREEMENT	  	Page 9

 
the Federal Arbitration Act (“FAA”) and, to the extent an issue is not addressed by the FAA, with the then-current National Rules for the
Resolution of Employment Disputes of the American Arbitration Association (“AAA”) or such other rules of the AAA as are applicable to the claims asserted. If a party refuses to honor its obligations under this Paragraph 12, the other party
may compel arbitration in either federal or state court. The arbitrator shall apply the substantive law of Texas (excluding choice-of-law principles that might call for the application of some other jurisdiction’s law) or federal law, or both
as applicable to the Claims asserted. The arbitrator shall have exclusive authority to resolve any dispute relating to the interpretation, applicability or enforceability or formation of this Agreement (including this Paragraph 12), including any
claim that all or part of the Agreement is void or voidable and any Claim that an issue is not subject to arbitration. The results of arbitration will be binding and conclusive on the parties hereto. Any arbitrator’s award or finding or any
judgment or verdict thereon will be final and unappealable. All parties agree that venue for arbitration will be in Dallas, Texas, and that any arbitration commenced in any other venue will be transferred to Dallas, Texas, upon the written
request of any party to this Agreement. In the event that an arbitration is actually conducted pursuant to this Paragraph 12, the party in whose favor the arbitrator renders the award shall be entitled to have and recover from the other party all
costs and expenses incurred, including reasonable attorneys’ fees, reasonable costs and other reasonable expenses pertaining to the arbitration and the enforcement thereof and such attorneys fees, costs and other expenses shall become a part of
any award, judgment or verdict. Any and all of the arbitrator’s orders, decisions and awards may be enforceable in, and judgment upon any award rendered by the arbitrator may be confirmed and entered by any federal or state court having
jurisdiction. All privileges under state and federal law, including attorney-client, work product and party communication privileges, shall be preserved and protected. The decision of the arbitrator will be binding on all parties. Arbitrations will
be conducted in such a manner that the final decision of the arbitrator will be made and provided to the Executive and the Company no later than 120 days after a matter is submitted to arbitration. All proceedings conducted pursuant to this
agreement to arbitrate, including any order, decision or award of the arbitrators, shall be kept confidential by all parties. EXECUTIVE ACKNOWLEDGES THAT, BY SIGNING THIS AGREEMENT, EXECUTIVE IS WAIVING ANY RIGHT THAT EXECUTIVE MAY HAVE TO A JURY
TRIAL OR A COURT TRIAL OF ANY SERVICE RELATED CLAIM ALLEGED BY EXECUTIVE.  
 13. Miscellaneous. 
 A. Choice of Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Texas, without
reference to principles of conflict of laws. 
 B. Captions. The captions of this Agreement are not part of the
provisions hereof and shall have no force or effect. 
 C. Entire Agreement. This Agreement contains the entire
agreement between Executive and the Company with regard to the Company’s employment of Executive and supersedes and nullifies all previous agreements between the Parties about the Company’s employment of Executive. 
  

			
	EMPLOYMENT AGREEMENT	  	Page 10

 D. Amendment. This Agreement may be amended, modified or terminated only by a
written document signed by Executive and a duly authorized officer of the Company specifically referencing the provision or provisions being amended, modified or terminated. 
 E. Invalid Provision; Language Construction. Whenever possible, each provision of this Agreement will be interpreted in such
manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal, or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality, or
unenforceability will not affect any provision in any other jurisdiction, but this Agreement will be reformed, construed, and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provision had never been contained herein
except that any court having jurisdiction shall have the power to reduce the duration, area, or scope of such invalid, illegal, or unenforceable provision and, its reduced form, it shall be enforceable. It is the intent of the Parties that the
provisions of this Agreement be enforceable to the fullest extent permitted by applicable law. The Parties agree that 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 either Party. 
 F. No Assignment. No rights or obligations of Executive under this Agreement
may be assigned or transferred other than Executive’s rights to compensation and benefits, which may be transferred only by will or operation of law. 
 G. Withholding. The Company may withhold from any amounts payable under this Agreement such federal, state, or local taxes as shall be required to be withheld pursuant to any applicable law or regulation.

 H. Waiver. The Company’s or Executive’s failure to insist on strict compliance with any provision of this
Agreement shall not be deemed to be a waiver of such provision or any other provision of this Agreement. 
 I. Deemed
Resignation. Any termination of Executive’s employment with the Company shall constitute an automatic resignation of Executive as an officer of the Company and each affiliate of the Company. In addition, Executive agrees to resign,
effective as of the date of conclusion of his employment for any reason, from his membership on the Board (if applicable), and from the board of directors of any affiliate of the Company, and from the board of directors or similar governing body of
any corporation, limited liability company, or other entity in which the Company or any affiliate holds an equity interest and with respect to which board or similar governing body Executive serves as the Company’s or such affiliate’s
designee or other representative. 
 J. Consultation with Attorney. Executive acknowledges that he has been advised in
writing to consult with an attorney before signing this Agreement. 

			
	EMPLOYMENT AGREEMENT	  	Page 11

 K. No Conflict. Executive covenants and represents that (i) he is not a party
to any contract, commitment or agreement, nor is he subject to, or bound by, any order, judgment, decree, law, statute, ordinance, rule, regulation or other restriction of any kind or character, which would prevent or restrict him from entering into
and performing his obligations under this Agreement, (ii) he is free to enter into the arrangements contemplated herein, (iii) he is not subject to any agreement or obligation that would limit his ability to act on behalf of the Company or
any of its subsidiaries, and (iv) his termination of his existing employment, his entry into the employment contemplated herein and his performance of his duties in respect thereof, will not violate or conflict with any agreement or obligation
to which he is subject. Executive has delivered to the Company true and complete copies of any currently effective employment agreement, non-competition agreement or similar agreement to which Executive is subject. 
 L. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original. 
 [Signature Page Follows] 

			
	EMPLOYMENT AGREEMENT	  	Page 12

 IN WITNESS WHEREOF, the Parties have executed the Agreement as of the dates set forth below.

  

									
	EXECUTIVE	 		 	BLOCKBUSTER INC.
				
	/s/ Thomas Casey	 		 	By:	 	/s/ James W. Keyes
	 THOMAS CASEY
	 		 	Its:	 	Chairman and Chief Executive Officer
	Date:	 	September 12, 2007	 		 	Date:	 	September 12, 2007

 [Signature Page to Employment Agreement] 

			
	EMPLOYMENT AGREEMENT	  	Page 13

 EXHIBIT A 
 None. 

			
	EXHIBIT A – LIST OF CURRENT ORGANIZATIONS	  	Page 1

 EXHIBIT B 
 GENERAL RELEASE OF ALL CLAIMS 
 This General Release of All Claims (the “General
Release”) dated as of                                  ,
20     is made in consideration of severance payments and other benefits provided to the undersigned employee (“Executive”) under the Employment Agreement by and between Executive and Blockbuster Inc. (the
“Company”), effective as of
                                 , 2007 (the “Employment
Agreement”). Unless otherwise defined herein, the terms defined in the Employment Agreement shall have the same defined meaning in this General Release. 
 1. For valuable consideration to be paid to Executive, upon expiration of the seven day revocation period provided in Section 8 herein, as provided for in Paragraph 5 of the Employment Agreement and to which he
is not contractually entitled to absent the execution of this General Release, the adequacy of which is hereby acknowledged, Executive, for himself, his spouse, heirs, administrators, children, representatives, executors, successors, assigns, and
all other persons claiming through Executive, if any (collectively, “Releasers”), does hereby release, waive, and forever discharge the Company and the Company’s former, present or future subsidiaries, parents, affiliates,
related organizations, employees, officers, directors, equity holders, attorneys, successors and assigns (collectively, the “Releasees”) from, and does fully waive any obligations of Releasees to Releasers for, any and all
liability, actions, charges, causes of action, demands, damages, or claims for relief, remuneration, sums of money, accounts or expenses (including, without limitation, attorneys’ fees and costs) of any kind whatsoever, whether known or unknown
or contingent or absolute, which heretofore has been or which hereafter may be suffered or sustained, directly or indirectly, by Releasers in consequence of, arising out of, or in any way relating to Executive’s employment with the Company
(whether pursuant to the Employment Agreement or otherwise) or any of its affiliates and the termination of Executive’s employment. The foregoing release and discharge, waiver and covenant not to sue includes, but is not limited to, all claims,
and any obligations or causes of action arising from such claims, under common law including any state or federal discrimination, fair employment practices or any other employment-related statute or regulation (as they may have been amended through
the date of this General Release) prohibiting discrimination or harassment based upon any protected status including, without limitation, race, color, religion, national origin, age, gender, marital status, disability, handicap, veteran status or
sexual orientation. Without limitation, specifically included in this paragraph are any claims arising under the Federal Rehabilitation Act of 1973, Age Discrimination in Employment Act of 1967, as amended (“ADEA”), the Older
Workers Benefit Protection Act, Title VII of the Civil Rights Act of 1964, as amended by the Civil Rights Act of 1991, the Equal Pay Act, the Americans With Disabilities Act, the National Labor Relations Act, the Fair Labor Standards Act, Employee
Retirement Income Security Act of 1974, the Family Medical Leave Act of 1993, the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), and any similar state statutes. The foregoing release and discharge also expressly
includes any claims under any state or federal common law theory, including, without limitation, wrongful or retaliatory discharge, breach of express or implied contract, promissory estoppel, unjust enrichment, breach of covenant of good faith and
fair dealing, violation of public policy, defamation, interference with contractual relations, 

			
	EXHIBIT B – GENERAL RELEASE OF CLAIMS	  	Page 1

 
intentional or negligent infliction of emotional distress, invasion of privacy, misrepresentation, deceit, fraud or negligence. This also includes a release
by Executive of any claims for alleged physical or personal injury, emotional distress relating to or arising out of Executive’s employment with the Company or the termination of that employment; and any claims under the WARN Act or any similar
law, which requires, among other things, that advance notice be given of certain work force reductions. This release and waiver applies to any claims or rights that may arise after the date Executive signs this General Release, but does not apply to
any such claims arising out of conduct by any Releasees that takes place after Executive signs this General Release. All of the claims, liabilities, actions, charges, causes of action, demands, damages, remuneration, sums of money, accounts or
expenses described in this Section 1 shall be described, collectively, as the “Released Claims”. 
 2. Excluded from
this General Release are any claims which cannot be waived by law, including, but not limited to, the right to participate in an investigation conducted by certain government agencies. Executive does, however, waive Executive’s right to any
monetary recovery should any agency (such as the Equal Employment Opportunity Commission) pursue any claims on Executive’s behalf. Executive represents and warrants that Executive has not filed any complaint, charge, or lawsuit against the
Releasees with any government agency or any court. 
 3. Executive agrees never to sue Releasees in any forum for any Released Claims covered
by the above waiver and release language, except that Executive may bring a claim under the ADEA to challenge this General Release. If Executive violates this General Release by suing Releasees, other than under the ADEA, Executive shall be liable
to the Company for its reasonable attorneys’ fees and other litigation costs incurred in defending against such a suit. Nothing in this General Release is intended to reflect any party’s belief that Executive’s waiver of claims under
ADEA is invalid or unenforceable, it being the interest of the parties that such claims are waived. 
 4. Executive acknowledges and recites
that: 
 (a) Executive has executed this General Release knowingly and voluntarily; 
 (b) Executive has read and understands this General Release in its entirety; 
 (c) Executive has been advised and directed orally and in writing (and this subparagraph (c) constitutes such written direction) to seek legal
counsel and any other advice he wishes with respect to the terms of this General Release before executing it; 
 (d) Executive’s
execution of this General Release has not been forced by any employee or agent of the Company, and Executive has had an opportunity to negotiate about the terms of this General Release and that the agreements and obligations herein are made
voluntarily, knowingly and without duress, and that neither the Company nor its agents have made any representation inconsistent with the General Release; and 
 (e) Executive has been offered 21 calendar days after receipt of this General Release to consider its terms before executing it. 

			
	EXHIBIT B – GENERAL RELEASE OF CLAIMS	  	Page 2

 5. This General Release shall be governed by, and construed in accordance with, the laws of the United
States applicable thereto and the internal laws of the State of Texas, without giving effect to the conflicts of law principles thereof. 
 6. Executive represents that he has returned all property belonging to the Company including, without limitation, keys, access cards, computer software and any other equipment or property. Executive further represents that he has delivered
to the Company all documents or materials of any nature belonging to it, whether an original or copies of any kind, including any Confidential Information. 
 7. Executive represents that he has been provided notice of his right to elect continuation of medical benefits under COBRA and that he is not entitled to any other benefits under the Company’s employee benefit
plans. 
 8. Executive shall have 7 days from the date hereof to revoke this General Release by providing written notice of the revocation to
the Company, in accordance with the requirements of Paragraph 7 of the Employment Agreement, in which event this General Release shall be unenforceable and null and void. 
 I, THOMAS CASEY, represent and agree that I have carefully read this General Release; that I have been given ample opportunity to consult with my legal counsel or any other party to the extent, if any, that I desire;
and that I am voluntarily signing by my own free act. 
 PLEASE READ THIS GENERAL RELEASE CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

  

			
	EXECUTIVE:
	
	 
	THOMAS CASEY
	Date:	 	                        ,
20    

			
	EXHIBIT B – GENERAL RELEASE OF CLAIMS	  	Page 3

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