Document:

Employment Agreement between the Company and Dan Satterhwaite

 EXHIBIT 10.2 
 DREAMWORKS ANIMATION SKG, INC. 
 1000
FLOWER STREET 
 GLENDALE, CALIFORNIA 91201 
 April 22, 2009 
 Dan Satterthwaite 
 c/o Munger, Tolles & Olsen LLP 
 355 South Grand Avenue, Suite 3500

 Los Angeles, CA 90071 
 Attention: Robert Knauss, Esq.

 Dear Dan: 
 Upon the Commencement Date (as
defined below), DreamWorks Animation SKG, Inc. (“Studio”) agrees to employ you and you agree to accept such employment upon the terms and conditions set forth in this agreement (“Agreement”). Upon Studio’s receipt of
executed copies (in form and substance satisfactory to Studio) of this Agreement, this Agreement shall supersede the executed Employment Agreement dated as of September 12, 2007 (the “Prior Agreement”) between DreamWorks Animation
L.L.C. and you, and the Prior Agreement shall be deemed terminated effective as of April 22, 2009. Studio shall have no obligation under this Agreement unless and until Studio has received from Employee a fully executed copy of this Agreement
(in form and substance satisfactory to Studio). 
 1. Term. The term of your employment hereunder shall commence on the date
hereof (the “Commencement Date”) and shall, unless earlier terminated in accordance with the provisions of this Agreement, continue up to and including May 2, 2012 (the “Initial Term”). Studio shall have an exclusive
irrevocable option exercisable by written notice to you no later than thirty (30) days prior to the end of the Initial Term to extend the Initial Term for an additional two (2) year period, commencing May 2, 2012 and continuing
through and including May 2, 2014 (the “Extended Term”). If Studio does not exercise its option, the term of your employment hereunder shall continue up to the expiration of the Initial Term. The Initial Term and, if the option is
exercised, the Extended Term, shall hereinafter be referred to collectively or individually as the context may require, as the “Employment Term.” 
 2. Duties/Responsibilities. 
 a. General. Your title shall be Head of Human Resources of
Studio. 
 b. Services. During the Employment Term you shall render your exclusive full-time business services to Studio and/or its
divisions, subsidiaries or affiliates in accordance with the reasonable directions and instructions of the Chief Operating Officer of Studio, all as hereinafter set forth. You shall report to the Chief Operating Officer of Employer (currently, Ann
Daly). 

 3. Exclusivity. You shall not during the Employment Term perform services for any person,
firm or corporation (hereinafter referred to collectively as a “person”) without the prior written consent of Studio and will not engage in any activity which would interfere with the performance of your services hereunder, or become
financially interested in any other person engaged in the production, distribution or exhibition of motion pictures or television programs (including, without limitation, motion pictures produced for, distributed to or exhibited on free, cable, pay,
satellite and/or subscription television, music and/or interactive), anywhere in the world. Nothing contained herein shall prevent you from owning publicly traded minority stock interests not to exceed five percent (5%), limited partnership
interests or other passive investment interests in businesses performing any of the aforesaid activities. 
 4. Compensation.

 a. Base Salary. For all services rendered under this Agreement, Studio will pay you a yearly base salary (the “Base
Salary”) at a rate of (i) during the Initial Term, Three Hundred Sixty-Two Thousand Dollars ($362,000.00) for each full year of the Initial Term and (ii) during the Extended Term (if applicable), Three Hundred Eighty-Seven Thousand
Dollars ($387,000.00) for each full year of the Extended Term. The Base Salary shall be payable in accordance with Studio’s applicable payroll practices. 
 b. Cash Incentive and Equity-Based Compensation. 
 (i) You will be eligible, while you remain employed
hereunder, subject to annual approval by the Compensation Committee of the Board of Directors of Studio (the “Compensation Committee”), to receive an annual cash bonus award pursuant to the terms of the Studio’s short-term incentive
plan. It is Studio’s present expectation that such annual awards will have a target value of $140,000 during the Initial Term and $150,000 during the Extended Term (if applicable). For the avoidance of doubt, such annual awards will have a
target value of $140,000 for the 2009 calendar year and $150,000 for the 2012 calendar year. 
 (ii) Concurrently with the execution of this
Agreement, you shall receive an equity incentive award having a grant-date value targeted at $200,000. The vesting of such award shall be subject to conditions as specified in the agreement evidencing the grant of such award, which agreement shall
be executed concurrently with this Agreement. 
 (iii) In addition, you will be eligible while you remain employed hereunder, subject to
annual approval by the Compensation Committee, to receive annual equity incentive awards, commencing in October 2010, consistent with other senior executives subject to Compensation Committee approval. It is Studio’s present expectation that
such annual awards will have an annual aggregate grant-date value targeted at $200,000 and shall vest over four (4) years from the date of grant. 
  

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 5. Benefits. In addition to the foregoing, during the period of your employment with Studio
hereunder, you shall be entitled to participate in such other, medical, dental and life insurance, 401(k), pension and other benefit plans as Studio may have or establish from time to time for its most senior executives. In addition, Studio shall
cover the cost of personal financial consulting services to you. During the Employment Term, unless earlier terminated as set forth below, you shall be entitled to coverage in accordance with Studio’s standard leave of absence policy and shall
be entitled to vacation days and/or personal days to be taken subject to the demands of Studio (as determined by Studio) and consistent with the amount of days taken by other senior level executives; provided, however, no vacation time will be
accrued during the Employment Term. The foregoing, however, shall not be construed to require Studio to establish any such plans or to prevent the modification or termination of such plans once established, and no such action or failure thereof
shall affect this Agreement. 
 6. Business Expenses. Studio shall reimburse you for business expenses on a regular basis in
accordance with its policy regarding the reimbursement of such expenses for executives of like stature to you (including travel, at Studio’s request (which, in accordance with Studio policy, is currently first class)). Expenses shall be
eligible for reimbursement hereunder to the extent that they are incurred by you during the period of your employment with Studio pursuant to this Agreement. All reimbursable expenses shall be reimbursed to you as promptly as practicable and in any
event not later than the last day of the calendar year after the calendar year in which the expenses are incurred, and the amount of expenses eligible for reimbursement during any calendar year will not affect the amount of expenses eligible for
reimbursement in any other calendar year. 
 7. Indemnification. You shall be fully indemnified and held harmless by Studio to
the fullest extent permitted by law from any claim, liability, loss, cost or expense of any nature (including attorney’s fees of counsel selected by you, judgments, fines, any amounts paid or to be paid in any settlement, and all costs of any
nature) incurred by you (all such indemnification to be on an “after-tax” or “gross-up” basis) which arises, directly or indirectly, in whole or in part out of any alleged or actual conduct, action or inaction on your part in or
in connection with or related in any manner to your status as an employee, agent, officer, corporate director, member, manager, shareholder, partner of, or your provision of services to, Studio or any of its affiliated entities, or any entity to
which you are providing services on behalf of Studio or which may be doing business with Studio. To the maximum extent allowed by law, all amounts to be indemnified hereunder including reasonable attorneys’ fees shall be promptly advanced by
Studio until such time, if ever, as it is determined by final decision pursuant to Paragraph 24 below that you are not entitled to indemnification hereunder (whereupon you shall reimburse Studio for all sums theretofore advanced). Any tax gross-up
payments that you become entitled to receive pursuant to this Paragraph 7 will be paid to you (or to the applicable taxing authority on your behalf) as promptly as practicable and in any event not later than the last day of the calendar year after
the calendar year in which you remit the related taxes. 
  

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 8. Covenants. 
 a. Confidential Information. You agree that you shall not, during the Employment Term or at any time thereafter, use for your own purposes, or disclose to, or for any benefit of any third party, any trade
secret or other confidential information of Studio or any of its affiliates (except as may be required by law or in the performance of your duties hereunder consistent with Studio’s policies) and that you will comply with any confidentiality
obligations of Studio known by you to a third party, whether under agreement or otherwise. Notwithstanding the foregoing, confidential information shall be deemed not to include information which (i) is or becomes generally available to the
public other than as a result of a disclosure by you or any other person who directly or indirectly receives such information from you or at your direction or (ii) is or becomes available to you on a non-confidential basis from a source which
you reasonably believe is entitled to disclose it to you. 
 b. Studio Ownership. The results and proceeds of your services hereunder,
including, without limitation, any works of authorship resulting from your services during your employment and any works in progress, shall be works-made-for-hire and Studio shall be deemed the sole owner throughout the universe of any and all
rights of whatsoever nature therein, whether or not now or hereafter known, existing, contemplated, recognized or developed, with the right to use the same in perpetuity in any manner Studio determines in its sole discretion without any further
payment to you whatsoever. If, for any reason, any of such results and proceeds shall not legally be a work-for-hire and/or there are any rights which do not accrue to Studio under the preceding sentence, then you hereby irrevocably assign and agree
to assign any and all of your right, title and interest thereto, including, without limitation, any and all copyrights, patents, trade secrets, trademarks and/or other rights of whatsoever nature therein, whether or not now or hereafter known,
existing, contemplated, recognized or developed by Studio, and Studio shall have the right to use the same in perpetuity throughout the universe in any manner Studio may deem useful or desirable to establish or document Studio’s exclusive
ownership of any and all rights in any such results and proceeds, including, without limitation, the execution of appropriate copyright and/or patent applications or assignments. To the extent that you have any rights in the results and proceeds of
your services that cannot be assigned in the manner described above, you unconditionally and irrevocably waive the enforcement of such rights. This Paragraph 8.b is subject to, and shall not be deemed to limit, restrict, or constitute any waiver by
Studio of any rights of ownership to which Studio may be entitled by operation of law by virtue of Studio or any of its affiliates being your employer. 
 c. 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 you and utilized by
you in the course of your employment with Studio or any of its affiliates shall remain the exclusive property of Studio. In the event of the termination of your employment for any reason, and subject to any other provisions hereof, Studio reserves
the right, subject to Paragraph 27.b, to the extent required by law, and in addition to any other remedy Studio may have, to deduct from any monies otherwise payable to you the following: (i) the full amount of any specifically determined debt
you owe to Studio or any of its affiliates at the time of or subsequent to the termination of your 

  

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employment with Studio, and (ii) the value of Studio property which you retain in your possession after the termination of your employment with Studio
following Studio’s written request for such item(s) return and your failure to return such items within thirty (30) days of receiving such notice. In the event that the law of any state or other jurisdiction requires the consent of an
employee for such deductions, this Agreement shall serve as such consent. 
 d. Promise Not To Solicit. You will not, during the
period of the Employment Term or for the period ending one (1) year after the earlier of expiration of the Employment Term or your termination hereunder, induce or attempt to induce any employees, exclusive consultants, exclusive contractors or
exclusive representatives of Studio (or those of any of its affiliates) to stop working for, contracting with or representing Studio or any of its affiliates or to work for, contract with or represent any of Studio’s (or its affiliates’)
competitors. 
 9. Incapacity. 
 a. In the event you are unable to perform the services required of you hereunder as a result of a physical or mental disability and such disability shall continue for a period of ninety (90) or more consecutive
days or an aggregate of four (4) or more months during any twelve (12) month period during the Employment Term, Studio shall have the right, at its option and subject to applicable state and federal law, to terminate your employment
hereunder, and Studio shall only be obligated to pay you (a) for a period commencing on the termination of your employment by Studio and ending on the earlier of the expiration of the Employment Term and the second anniversary of the
termination of your employment, payments at a rate equal to 50% of your rate of Base Salary, and, except as otherwise provided in this Paragraph 9.a, such payments will be payable in accordance with Studio’s regular payroll practices applicable
to similarly situated active employees, and (b) any additional compensation (including, without limitation, any grants of equity-based compensation made to you on or prior to the date of termination (it being understood you will not be entitled
to receive any grants of equity-based compensation thereafter) as determined pursuant to Paragraph 9.b below, and expense reimbursement for expenses incurred prior to your termination) earned by you prior to the termination of your employment.
Notwithstanding the foregoing sentence, you further will be entitled to continuation of medical, dental, life insurance, and financial counseling benefits (collectively, excluding disability insurance, the “Continued Benefits”) for a
period of twelve (12) months after termination of your employment pursuant to this paragraph (but not to exceed the end of the then-current Employment Term); provided; however, that nothing in this sentence is intended to
discontinue any short-term or long-term disability insurance benefits you are receiving or may become eligible to receive as a result of the disability resulting in termination of your employment pursuant to this paragraph. Except as specifically
permitted by Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations thereunder as in effect from time to time (collectively, hereinafter, “Section 409A”), the Continued Benefits
provided to you during any calendar year will not affect the Continued Benefits to be provided to you in any other calendar year. With respect to any Continued Benefits for which you may become eligible under this Paragraph 9.a or otherwise under
this Agreement, if requested by Studio during any 

  

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continuation period you shall elect to treat such Continued Benefits as being provided pursuant to the applicable provisions of the Consolidated Omnibus
Budget Reconciliation Act of 1986 (“COBRA”) or any similar applicable federal or state statute. Whenever compensation is payable to you hereunder, during or with respect to a time when you are partially or totally disabled and such
disability (except for the provisions hereof) would entitle you to disability income or to salary continuation payments from Studio according to the terms of any plan now or hereafter provided by Studio or according to any policy of Studio in effect
at the time of such disability, the compensation payable to you hereunder shall be reduced on a dollar-for-dollar basis by any such disability income or salary continuation and shall not be in addition thereto. If disability income is payable
directly to you by an insurance company under an insurance policy paid for by Studio, the compensation payable to you hereunder shall be reduced on a dollar-for-dollar basis by the amounts paid to you by said insurance company and shall not be in
addition thereto. 
 b. Unless otherwise specified in the applicable equity
compensation plan of Studio (each such plan, a “Plan”) or in the agreement evidencing the grant, in each case as of the date of the grant, after termination of employment pursuant to Paragraph 9.a, your grants of equity-based
compensation will be determined as follows. For purposes of this Agreement, an award will be deemed to have vested when it is no longer subject to a substantial risk of forfeiture (within the meaning of Treasury Regulation Section 1.409A-1(d)).
With respect to grants having performance-based vesting criteria, the amount of such award that is eligible to vest will be determined after the end of the performance period specified in the grant, or satisfaction of such other criteria pursuant to
the Plan, subject to the applicable performance or other criteria, as if you had continued to remain employed with Studio throughout such performance period. With respect to grants having time-based vesting criteria, the full amount of such award
will be eligible to vest. A ratable portion of the amount of each award that is eligible to vest will become vested by multiplying such amount by a fraction, the numerator of which is the sum of (i) your actual period of service in months
through the date of termination plus (ii) the lesser of (A) twelve (12) months or (B) 50% of the remaining Employment Term in months determined as of the date of termination (but in no event will the numerator exceed the
denominator), and the denominator of which is the total performance period in months (for grants having performance-based vesting criteria) or the total vesting period in months (for grants having time-based vesting criteria) specified in the grant.
To avoid any double-counting, any part of any equity-based compensation award that has vested in accordance with the terms of the applicable award agreement shall be credited against any part of such award that you shall be entitled to receive or
exercise pursuant to the determination set forth in the proceeding sentence. The balance of such awards will be forfeited. Subject to this Paragraph 9.b and to the other terms and conditions of the grants, all stock options and any similar
equity-based awards will remain exercisable for the remaining term of the grant. In the case of restricted stock units that are subject to performance-based vesting criteria, except as otherwise set forth in Paragraph 25, such awards will be settled
on the seventieth (70th) day after the date that such awards become vested. With respect to restricted stock units that are subject to
time-based vesting criteria, such awards will be settled within thirty (30) days following your termination of employment. 
  

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 10. Death. If you die prior to the end of the Employment Term, this Agreement shall be
terminated as of the date of death and your beneficiary or estate shall be entitled to receive (a) your Base Salary accrued up to and including the date of death and, thereafter, for a period commencing on such date and ending on the earlier of
the expiration of the Employment Term and the first anniversary of such date, continued Base Salary payable in accordance with Studio’s regular payroll practices applicable to similarly situated active employees, (b) equity-based
compensation to be determined in the same manner and at the same time as provided in Paragraph 9.b, under and in accordance with any Plan, and (c) all other benefits pro-rated up to the date on which the death occurs. 
 11. Termination for Cause. Studio shall have the right to terminate this Agreement at any time for cause. As used herein, the term
“cause” shall mean (i) misappropriation of any material funds or property of Studio or any of its related companies; (ii) failure to obey reasonable and material orders given by the Chief Operating Officer of Studio or by the
board of directors of Studio (iii) any material breach of this Agreement by you; (iv) conviction of or entry of a plea of guilty or nolo contendre to a felony or a crime involving moral turpitude; (v) any willful act, or
failure to act, by you in bad faith to the material detriment of Studio; or (vi) material non-compliance with established Studio policies and guidelines (after which you have been informed in writing of such policies and guidelines and you have
failed to cure such non-compliance); provided that in each such case (other than (i) or (iv) or a willful failure in (ii) or repeated breaches, failures or acts of the same type or nature) prompt written notice of such cause is given
to you by specifying in reasonable detail the facts giving rise thereto and that continuation thereof will result in termination of employment, and such cause is not cured within ten (10) business days after receipt by you of the first such
notice. If you are terminated as set forth in this Paragraph 11, then payment of the specified Base Salary and any additional noncontingent cash compensation (including, without limitation, any equity-based compensation which has vested and
expense reimbursement for expenses incurred prior to your termination) theretofore earned by you shall be payment in full of all compensation payable hereunder. If Studio terminated you hereunder, then you shall immediately reimburse Studio for all
paid but unearned sums. 
 12. Involuntary Termination. Studio may terminate your employment other than for cause or on account
of incapacity, in which case you will receive, for a period equal to the Continuation Period (as defined below), (i) continued Base Salary payable in accordance with Studio’s regular payroll practices applicable to similarly situated
active employees, and (ii) Continued Benefits. In the event that any cash bonuses have been paid to you during the Employment Term, you shall also be entitled to receive, with respect to each complete or partial calendar year prior to the
expiration of the Continuation Period with respect to which, as of the date of termination of your employment, Studio has not yet paid annual cash bonuses (if any) under its short term incentive plan to similarly situated active employees (each such
year, a “Bonus Entitlement Year”), an annual cash payment (such payment, a “Bonus Equivalent Payment”) in an amount equal to the average annual cash bonuses (including any $0 bonuses) that have been paid (whether or not deferred)
to you, if any, during the Employment Term. In the event that you become entitled to a Bonus Equivalent Payment in accordance with the preceding sentence, such Bonus Equivalent 

  

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Payment will be made to you no earlier than January 1 and no later than December 31 of the calendar year following the Bonus Entitlement Year to
which such Bonus Equivalent Payment relates, and the Bonus Equivalent Payment relating to the calendar year for the last year of the Continuation Period shall be pro-rated based on the number of days prior to the expiration of the Continuation
Period during such calendar year. For purposes of this Paragraph 12, the term “Continuation Period” shall be defined as follows: (A) in the event that your employment is terminated by Studio other than for cause or incapacity, unless
such termination is during the 12-month period following a “change of control” (as defined in Paragraph 25), then “Continuation Period” shall mean the period commencing on the date of such termination and ending on the expiration
of the Employment Term and (B) in the event that your employment is terminated by Studio other than for cause or incapacity during the 12-month period following a “change of control”, then “Continuation Period” shall mean
the period commencing on the termination of your employment and ending on the later of the expiration of the Employment Term and the second anniversary of the termination of your employment. In the event of termination of your employment without
cause pursuant to this Paragraph 12, all the equity-based compensation held by you shall accelerate vesting (with respect to grants having performance-based vesting criteria, on the basis that any mid-range or “target” goals rather than
premium goals are deemed to have been achieved) and will, subject to the other terms and conditions of the grants, remain exercisable for the remainder of the term of the grant; however, you will not be entitled to receive any future equity-based
compensation. All such outstanding restricted stock units (whether subject to time-based or performance-based vesting criteria) will be settled not later than thirty (30) days following your termination of employment. If your services are
terminated pursuant to this paragraph, you shall not be obligated to secure other employment to mitigate damages incurred by Studio or any payment due you as a result of your termination hereunder; provided that any compensation earned from any
employment obtained by you during the remainder of the Continuation Period will reduce on a dollar-for-dollar basis Studio’s payment obligations under this Agreement, except if your services are terminated following a “change of
control”. You agree that you will have no rights or remedies in the event of your termination without cause other than those set forth in the Agreement to the maximum extent required by law. 
 13. Termination for Good Reason. You shall be entitled to terminate your employment at any time for “good reason.” As used
herein, the term “good reason” shall mean only: (i) any material breach of this Agreement by Studio; (ii) any diminution in title; (iii) failure to be the most senior human resources executive (other than the Company’s
Chief Executive Officer or Chief Operating Officer (or their successors); (iv) any time that Studio shall direct or require that you report to any person other than the Chief Operating Officer of the Studio; or (v) any time that Studio
shall direct or require that your principal place of business be anywhere other than the Los Angeles area. Notwithstanding anything to the contrary contained herein, you will not be entitled to terminate your employment for good reason for purposes
of this Agreement as the result of any event specified in the foregoing clauses (i) through (v) unless, within ninety (90) days following the occurrence of such event, you give Studio written notice of the occurrence of such event,
which notice sets forth the exact nature of the event and the conduct required to cure such event. Studio shall have thirty (30) days from the receipt of such notice within which to cure (such period, the 

  

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“Cure Period”). If, during the Cure Period, such event is remedied, then you will not be permitted to terminate your employment for good reason as
a result of such event. If, at the end of the Cure Period, the event that constitutes good reason has not been remedied, you will be entitled to terminate your employment for good reason during the sixty (60) day period that follows the end of
the Cure Period. If you do not terminate your employment during such sixty (60) day period, you will not be permitted to terminate your employment for good reason as a result of such event. In the event of your voluntary termination for good
reason, you shall be entitled to the payments, benefits (including the post-term continuation of the applicable benefits) and equity-based compensation provided under Paragraph 12 for involuntary termination without cause. If your services are
terminated pursuant to this paragraph, you shall not be obligated to secure other employment to mitigate damages incurred by Studio or any payment due you as a result of your termination hereunder. You agree that you will have no rights or remedies
in the event of your termination for good reason other than those set forth in the Agreement to the maximum extent allowed by law. 
 14.
Name/Likeness. During the Employment Term, Studio shall have the right to use your name, biography and likeness in connection with its business as follows: You shall promptly submit to Studio a biography of yourself. Provided that you
timely submit such biography, Studio shall not use any other biographical information other than contained in such biography so furnished, other than references to your prior professional services and your services hereunder, without your prior
approval (which approval shall not be unreasonably withheld). If you fail to promptly submit a biography, then you shall not have the right to approve any biographical material used by Studio. You shall have the right to approve any likeness of you
used by Studio. Nothing herein contained shall be construed to authorize the use of your name, biography or likeness to endorse any product or service or to use the same for similar commercial purposes. 
 15. Section 317 and 508 of the Federal Communications Act. You represent that you have not accepted or given, nor will you accept or
give, directly or indirectly, any money, services or other valuable consideration from or to anyone other than Studio for the inclusion of any matter as part of any film, television program or other production produced, distributed and/or developed
by Studio and/or any of its affiliates. 
 16. Equal Opportunity Employer. You acknowledge that Studio is an equal opportunity
employer. You agree that you will comply with Studio policies regarding employment practices and with applicable federal, state and local laws prohibiting discrimination or harassment. 
 17. Notices. All notices required to be given hereunder shall be given in writing, by personal delivery or by mail and confirmed by fax at
the respective addresses of the parties hereto set forth above, or at such address as may be designated in writing by either party, and in the case of Studio, to the attention of the General Counsel of Studio. A courtesy copy of any notice to you
hereunder shall be sent to Munger, Tolles & Olson LLP, 355 South Grand Avenue, 35th Floor, Los Angeles, CA 90071-1560, Facsimile: (213) 683-5137, Attention: Robert B. Knauss, Esq. Any notice given by mail shall be deemed to have been
given three (3) business days following such mailing. 
  

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 18. Assignment. This is an Agreement for the performance of personal services by you and
may not be assigned by you (other than the right to receive payments which may be assigned to a company, trust or foundation owned or controlled by you) and any purported assignment in violation of the foregoing shall be deemed null and void. Studio
may assign this Agreement or all or any part of its rights hereunder to any entity which acquires all or substantially all of the assets of Studio and this Agreement shall inure to the benefit of such assignee, provided your duties do not materially
change. 
 19. California Law. This Agreement and all matters or issues collateral thereto shall be governed by the laws of the
State of California applicable to contracts entered into and performed entirely therein. 
 20. No Implied Contract. The
parties intend to be bound only upon execution of this Agreement and no negotiation, exchange or draft or partial performance shall be deemed to imply an agreement. Neither the continuation of employment nor any other conduct shall be deemed to
imply a continuing agreement upon the expiration of this Agreement. 
 21. Entire Understanding. This Agreement contains the
entire understanding of the parties hereto relating to the subject matter herein contained, and can be changed only by a writing signed by both parties hereto. 
 22. Void Provisions. If any provision of this Agreement, as applied to either party or to any circumstances, shall be adjudged by a court to be void or unenforceable, the same shall be deemed stricken
from this Agreement and shall in no way affect any other provision of this Agreement or the validity or enforceability of this Agreement. In the event any such provision (the “Applicable Provision”) is so adjudged void or unenforceable,
you and Studio shall take the following actions in the following order: (i) seek judicial reformation of the Applicable Provision; (ii) negotiate in good faith with each other to replace the Applicable Provision with a lawful provision;
and (iii) have an arbitration as provided in Paragraph 24 hereof determine a lawful replacement provision for the Applicable Provision; provided, however, that no such action pursuant to either of clauses (i) or
(iii) above shall increase in any respect your obligations pursuant to the Applicable Provision. 
 23. Survival; Modification of
Terms. Your obligations under Paragraph 8 hereof shall remain in full force and effect for the entire period provided therein, notwithstanding the termination of the Employment Term pursuant to Paragraph 11 hereof or otherwise. Studio’s
obligations under Paragraphs 6 (with respect to expenses theretofore incurred), 7 and 25.d hereof shall survive indefinitely the termination of this Agreement regardless of the reason for such termination. Further, Paragraphs 9, 10, 12 and 13 will
continue to govern your entitlement, if any, to benefits and equity based compensation after the termination of the Employment Term, and Paragraph 24 will continue to govern any Claims (as defined below) by one party against the other. 

 

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 24. Arbitration of Disputes. Any controversy or claim by you against Studio or any of its
parent companies, subsidiaries, affiliates (and/or officers, directors, employees, representatives or agents of Studio and such parent companies, subsidiaries and/or affiliates), including any controversy or claim arising from, out of or relating to
this Agreement, the breach thereof, or the employment or termination thereof of you by Studio which would give rise to a claim under federal, state or local law (including, but not limited to, claims based in tort or contract, claims for
discrimination under state or federal law, and/or claims for violation of any federal, state or local law, statute or regulation), or any claim against you by Studio (individually and/or collectively, “Claim(s)”) shall be submitted to an
impartial mediator (“Mediator”) selected jointly by the parties. Both parties shall attend a mediation conference in Los Angeles County, California and attempt to resolve any and all Claims. If the parties are not able to resolve all
Claims, then upon written demand for arbitration to the other party, which demand shall be made within a reasonable time after the Claim has arisen, any unresolved Claims shall be determined by final and binding arbitration in Los Angeles,
California, in accordance with the Model Employment Procedures of the American Arbitration Association (collectively, “Rules”) by a neutral arbitrator experienced in employment law, licensed to practice law in California, in accordance
with the Rules, except as herein specified. In no event shall the demand for arbitration be made after the date when the institution of legal and/or equitable proceedings based upon such Claim would be barred by the applicable statute of
limitations. Each party to the arbitration will be entitled to be represented by counsel and will have the opportunity to take depositions in Los Angeles, California of any opposing party or witnesses selected by such party and/or request production
of documents by the opposing party before the arbitration hearing. By mutual agreement of the parties, additional depositions may be taken at other locations. In addition, upon a party’s showing of need for additional discovery, the arbitrator
shall have discretion to order such additional discovery. You acknowledge and agree that you are familiar with and fully understand the need for preserving the confidentiality of Studio’s agreements with third parties and compensation of
Studio’s employees. Accordingly, you hereby agree that to the extent the arbitrator determines that documents, correspondence or other writings (or portions thereof) whether internal or from any third party, relating in any way to your
agreements with third parties and/or compensation of other employees are necessary to the determination of any Claim, you and/or your representatives may discover and examine such documents, correspondence or other writings only after execution of
an appropriate confidentiality agreement. Each party shall have the right to subpoena witnesses and documents for the arbitration hearing. A court reporter shall record all arbitration proceedings. With respect to any Claim brought to arbitration
hereunder, either party may be entitled to recover whatever damages would otherwise be available to that party in any legal proceeding based upon the federal and/or state law applicable to the matter. The arbitrator shall issue a written decision
setting forth the award and the findings and/or conclusions upon which such award is based. The decision of the arbitrator may be entered and enforced in any court of competent jurisdiction by either Studio or you. Notwithstanding the foregoing, the
result of any such arbitration shall be binding but shall not be made public (including by filing a petition to confirm the 

  

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arbitration award), unless necessary to confirm such arbitration award after non-payment of the award for a period of at least fifteen (15) days after
notice to Studio of the arbitrator’s decision. Each party shall pay the fees of their respective attorneys (except as otherwise awarded by the arbitrator), the expenses of their witnesses, and all other expenses connected with presenting their
Claims or defense(s). Other costs of arbitration shall be borne by Studio. Except as set forth below, should you or Studio pursue any Claim covered by this Paragraph 24 by any method other than said arbitration, the responding party shall be
entitled to recover from the other party all damages, costs, expenses, and reasonable outside attorneys’ fees incurred as a result of such action. The provisions contained in this Paragraph 24 shall survive the termination of your employment
with Studio. Notwithstanding anything set forth above, you agree that any breach or threatened breach of this Agreement (particularly, but without limitation, with respect to Paragraphs 3 and 8, above) may result in irreparable injury to Studio, and
therefore, in addition to the procedures set forth above, Studio may be entitled to file suit in a court of competent jurisdiction to seek a Temporary Restraining Order and/or preliminary or permanent injunction or other equitable relief to prevent
a breach or contemplated breach of such provisions. 
 25. Change of Control. 
 a. Except as set forth in Paragraph 25.b below, in the event of a “change of control” all unvested equity-based compensation held by you shall
remain unvested and shall continue to vest in accordance with its terms, without regard to the occurrence of the change of control; provided, however, that unless provision is made in connection with the change of control for (i) assumption of
such outstanding equity-based compensation or (ii) substitution for such equity-based compensation of new awards covering stock of a successor corporation or its “parent corporation” (as defined in Section 424(e) of the Code) or
“subsidiary corporation” (as defined in Section 424(f) of the Code) with appropriate adjustments as to the number and kinds of shares and the exercise price, if applicable, in each case, that preserve the material terms and conditions
of such outstanding equity-based compensation as in effect immediately prior to the change of control (including, without limitation, with respect to the vesting schedules, the intrinsic value of the awards (if any) as of the change of control and
transferability of the shares underlying such awards), all such equity-based compensation shall accelerate vesting (on the basis that any mid-range or “target” goals rather than premium goals are deemed to have been achieved) immediately
prior to such change of control, in which case, all outstanding restricted stock units (whether subject to time-based or performance-based vesting criteria) will be settled not later than the tenth (10th) day following the date of such change
of control. Notwithstanding the foregoing, in the event that payment of any amount that would otherwise be paid pursuant to the proviso in the immediately preceding sentence would result in a violation of Section 409A, then even though your
rights to payment of such amount will become vested pursuant to such proviso and the amount of such payment will be determined as of the change of control, such amount will not be paid to you until the earliest time permitted under
Section 409A. 
 b. In the event that, during the 12-month period following a change of control, your employment is terminated by Studio
other than for cause or by you for good reason, 

  

 12 

 
then notwithstanding any provision of this Agreement or any other agreement between you and Studio, all equity-based compensation held by you shall
accelerate vesting (on the basis that any mid-range or “target” goals rather than premium goals are deemed to have been achieved) and, subject to the other terms and conditions of the grants, remain exercisable for the remainder of the
term of the grant. All outstanding restricted stock units (whether subject to time-based or performance-based vesting criteria) will be settled not later than the tenth (10th) day following the date of termination of your employment.

 c. For purposes of this Agreement, “change of control” shall mean the occurrence of any of the following events: 
 (i) during any period of fourteen (14) consecutive calendar months, individuals who were directors of Studio on the first day of such period (the
“Incumbent Directors”) cease for any reason to constitute a majority of the Board of Directors of Studio (the “Board”); provided, however, that any individual becoming a director subsequent to the first day of such period whose
election, or nomination for election, by Studio’s stockholders was approved by a vote of at least a majority of the Incumbent Directors shall be considered as though such individual were an Incumbent Director, but excluding, for purposes of
this proviso, any such individual whose initial assumption of office occurs as a result of an actual or threatened proxy contest with respect to election or removal of directors or other actual or threatened solicitation of proxies or consents by or
on behalf of a “person” (as such term is used in Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (each, a “Person”), in each case other than the management of Studio, the
Board or the holders of Studio’s Class B common stock par value $0.01; 
 (ii) the consummation of (A) a merger, consolidation,
statutory share exchange or similar form of corporate transaction involving (x) Studio or (y) any of its subsidiaries, but in the case of this clause (y) only if Studio Voting Securities (as defined below) are issued or issuable (each
of the events referred to in this clause (A) being hereinafter referred to as a “Reorganization”) or (B) the sale or other disposition of all or substantially all the assets of Studio to an entity that is not an affiliate (a
“Sale”), in each such case, if such Reorganization or Sale requires the approval of Studio’s stockholders under the law of Studio’s jurisdiction of organization (whether such approval is required for such Reorganization or Sale
or for the issuance of securities of Studio in such Reorganization or Sale), unless, immediately following such Reorganization or Sale, (1) all or substantially all the individuals and entities who were the “beneficial owners” (as
such term is defined in Rule 13d-3 under the Exchange Act (or a successor rule thereto)) of the securities eligible to vote for the election of the Board (“Studio Voting Securities”) outstanding immediately prior to the consummation of
such Reorganization or Sale beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding voting securities of the corporation resulting from such Reorganization or Sale (including, without limitation,
a corporation that as a result of such transaction owns Studio or all or substantially all Studio’s assets either directly or through one or more subsidiaries) (the “Continuing Corporation”) in substantially the same proportions as
their ownership, immediately prior to the consummation of such Reorganization or Sale, of the outstanding Studio Voting Securities (excluding any outstanding voting securities of the 

  

 13 

 
Continuing Corporation that such beneficial owners hold immediately following the consummation of the Reorganization or Sale as a result of their ownership
prior to such consummation of voting securities of any company or other entity involved in or forming part of such Reorganization or Sale other than Studio), (2) no Person (excluding (x) any employee benefit plan (or related trust)
sponsored or maintained by the Continuing Corporation or any corporation controlled by the Continuing Corporation, (y) Jeffrey Katzenberg and (z) David Geffen) beneficially owns, directly or indirectly, 40% or more of the combined voting
power of the then outstanding voting securities of the Continuing Corporation and (3) at least 50% of the members of the board of directors of the Continuing Corporation were Incumbent Directors at the time of the execution of the definitive
agreement providing for such Reorganization or Sale or, in the absence of such an agreement, at the time at which approval of the Board was obtained for such Reorganization or Sale; 
 (iii) the stockholders of Studio approve a plan of complete liquidation or dissolution of Studio; or 
 (iv) any Person, corporation or other entity or “group” (as used in Section 14(d)(2) of the Exchange Act) (other than (A) Studio,
(B) any trustee or other fiduciary holding securities under an employee benefit plan of Studio or an affiliate or (C) any company owned, directly or indirectly, by the stockholders of Studio in substantially the same proportions as their
ownership of the voting power of Studio Voting Securities) becomes the beneficial owner, directly or indirectly, of securities of Studio representing 40% or more of the combined voting power of Studio Voting Securities but only if the percentage so
owned exceeds the aggregate percentage of the combined voting power of Studio Voting Securities then owned, directly or indirectly, by Jeffrey Katzenberg and David Geffen; provided, however, that for purposes of this subparagraph (iv), the
following acquisitions shall not constitute a change of control: (x) any acquisition directly from Studio or (y) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by Studio or an Affiliate. 

d. In the event that it is determined that any payment (other than the Gross-Up Payments provided for in this Paragraph 25.d) or distribution by
Studio or any of its affiliates to you or for your benefit, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or pursuant to or by reason of any other agreement, policy, plan, program or arrangement,
including without limitation any stock option or similar right, or the lapse or termination of any restriction on or the vesting or exercisability of any of the foregoing (a “Payment”), would be subject to the excise tax imposed by
Section 4999 of the Code (or any successor provision thereto), by reason of being considered “contingent on a change in the ownership or effective control” of Studio, within the meaning of Section 280G of the Code (or any
successor provision thereto) or to any similar tax imposed by state or local law, or any interest or penalties with respect to such tax (such tax or taxes, together with any such interest and penalties, being hereafter collectively referred to as
the “Excise Tax”), then subject to Paragraphs 25.e and f, you will be entitled to receive (or have paid to the applicable taxing authority on your behalf) an additional payment or payments (collectively, a “Gross-Up Payment”).
Any Gross-Up Payment that 

  

 14 

 
you become entitled to pursuant to this Paragraph 25.d will be paid to you (or to the applicable taxing authority on your behalf) as promptly as practicable
and in any event not later than the last day of the calendar year after the calendar year in which the applicable Excise Tax is paid. The Gross-Up Payment will be in an amount such that, after payment by you of all taxes (including any interest or
penalties imposed with respect to such taxes), including any Excise Tax imposed upon the Gross-Up Payment, you retain (or receive the benefit of a payment to the applicable taxing authority of) an amount of the Gross-Up Payment equal to the Excise
Tax imposed upon the Payment. For purposes of determining the amount of the Gross-Up Payment, you will be considered to pay (i) federal income taxes at the highest generally applicable rate (plus any applicable Excise Tax) in effect in the year
in which the Gross-Up Payment will be made and (ii) state and local income taxes at the highest generally applicable rate (plus any applicable Excise Tax) in effect in the state or locality in which the Gross-Up Payment would be subject to
state or local tax, net of the maximum reduction in federal income tax that could be obtained from deduction of such state and local taxes. 
 e. Notwithstanding any provision of the foregoing Paragraph 25.d, if it shall be determined (by the reasonable computation by a nationally recognized certified public accounting firm that shall be selected by Studio (the
“Accountant”), which determination shall be certified by the Accountant and set forth in a certificate delivered to you) that the aggregate amount of the payments, distributions, benefits and entitlements of any type payable by Studio or
any affiliate to or for your benefit (including any payment, distribution, benefit or entitlement made by any person or entity effecting a change of control), in each case, that could be considered “parachute payments” within the meaning
of Section 280G of the Code (such payments, the “Parachute Payments”) that, but for this Paragraph 25.e, would be payable to you, does not exceed 110% of the greatest amount of Parachute Payments that could be paid to you without
giving rise to any liability for the Excise Tax in connection therewith (such greatest amount, the “Floor Amount”), then: (A) no Gross-Up Payment shall be made to you; and (B) the aggregate amount of Parachute Payments payable to
you shall be reduced (but not below the Floor Amount) to the largest amount which would both (1) not cause any Excise Tax to be payable by you, and (2) not cause any portion of the Parachute Payments to become nondeductible by reason of
Section 280G of the Code (or any successor provision). You shall be permitted to provide Studio with written notice specifying which of the Parachute Payments will be subject to reduction or elimination; provided, however, that to the extent
that your ability to exercise such authority would cause any Parachute Payment to become subject to any taxes or penalties pursuant to Section 409A, or if you do not provide Studio with any such written notice, Studio shall reduce or eliminate
the Parachute Payments by first reducing or eliminating the portion of the Parachute Payments that are payable in cash and then by reducing or eliminating the non-cash portion of the Parachute Payments, in each case in reverse order beginning with
payments or benefits which are to be paid the farthest in time from the date of the Accountant’s determination. Except as set forth in the preceding sentence, any notice given by you pursuant to the preceding sentence shall take precedence over
the provisions of any other plan, arrangement or agreement governing your rights and entitlements to any benefits or compensation. 
  

 15 

 f. Notwithstanding any provision of Paragraphs 25.d and e, in the event that any two of the Chief
Executive Officer, President and Chief Operating Officer of Studio shall enter into any agreement pursuant to which such executives are no longer provided a gross-up payment as a result of any Excise Tax, then you shall no longer be entitled to a
Gross-Up Payment pursuant to this Agreement or otherwise. 
 26. Miscellaneous. You agree that Studio may deduct and withhold
from your compensation hereunder the amounts required to be deducted and withheld under the provisions of the Federal and California Income Tax Acts, Federal Insurance Contributions Act, California Unemployment Insurance Act, any and all amendments
thereto, and other statutes heretofore or hereafter enacted requiring the withholding of compensation. All of Studio’s obligations in this Agreement are expressly conditioned upon you completing and delivering to Studio an Employment
Eligibility Form (“Form I-9”) (in form satisfactory to Studio) and in connection therewith, you submitting to Studio original documentation demonstrating your employment eligibility. 
 27. Section 409A. 
 a. It
is intended that the provisions of this Agreement comply with Section 409A, and all provisions of this Agreement shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under
Section 409A. 
 b. Neither you nor any of your creditors or beneficiaries shall have the right to subject any deferred compensation
(within the meaning of Section 409A) payable under this Agreement or under any other plan, policy, arrangement or agreement of or with Studio or any of its affiliates (this Agreement and such other plans, policies, arrangements and agreements,
the “Company Plans”) to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section 409A, any deferred compensation (within the meaning of
Section 409A) payable to you or for your benefit under any Company Plan may not be reduced by, or offset against, any amount owing by you to Studio or any of it affiliates. 
 c. If, at the time of your separation from service (within the meaning of Section 409A), (i) you shall be a specified employee (within the
meaning of Section 409A and using the identification methodology selected by Studio from time to time) and (ii) Studio shall make a good faith determination that an amount payable under a Company Plan constitutes deferred compensation
(within the meaning of Section 409A) the payment of which is required to be delayed pursuant to the six-month delay rule set forth in Section 409A in order to avoid taxes or penalties under Section 409A, then Studio (or its affiliate,
as applicable) shall not pay such amount on the otherwise scheduled payment date but shall instead accumulate such amount and pay it, together with interest credited at the Applicable Federal Rate in effect as of the date of your termination of
employment, on the first business day after such six-month period. 
 d. Notwithstanding any provision of this Agreement or any Company Plan
to the contrary, in light of the uncertainty with respect to the proper application of Section 

  

 16 

 
409A, Studio reserves the right to make amendments to any Company Plan as Studio deems necessary or desirable to avoid the imposition of taxes or penalties
under Section 409A. In any case, except as provided in Paragraph 25.d of this Agreement, you are solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on you or for your account in connection with any
Company Plan (including any taxes and penalties under Section 409A), and neither Studio nor any affiliate shall have any obligation to indemnify or otherwise hold you harmless from any or all of such taxes or penalties. 
 e. For purposes of Section 409A, each of (i) the installments at a rate equal to 50% of your Base Salary, as provided in Paragraph 9, and
(ii) the installments of continued Base Salary, as provided in Paragraphs 10 and 12, will be deemed to be a separate payment as permitted under Treasury Regulation Section 1.409A-2(b)(2)(iii). 
  

 17 

 If the foregoing correctly sets forth your understanding, please sign one copy of this letter and return
it to the undersigned, whereupon this letter shall constitute a binding agreement between us. 
  

			
	Very truly yours,
	
	DREAMWORKS ANIMATION SKG, INC.
		
	By:	 	 /s/    Lewis Coleman

	Its:	 	 President & CFO

 ACCEPTED AND AGREED AS OF THE 
 DATE FIRST ABOVE WRITTEN: 
  

	
	 /s/    Dan Satterthwaite

	DAN SATTERTHWAITE

  

 18Aircraft Sublease Agreement

 EXHIBIT 10.3 
 AMENDED AND RESTATED 
 NON-EXCLUSIVE AIRCRAFT SUBLEASE AGREEMENT 
 This Amended and Restated Non-Exclusive Aircraft Sublease Agreement (the “Lease”) is made, effective as of April 22, 2009, by and between
M&JK Dream, LLC (“Lessor”) and DreamWorks Animation SKG, Inc. (“Lessee)”. 
 WITNESSETH: 
 WHEREAS, Lessor is the lessee of a Boeing 737-7BC (Boeing Business Jet) aircraft, serial no. 30782, registered with the Federal Aviation
Administration as N800KS, including its engines, accessories, components and parts (collectively, the “Aircraft”); 
 WHEREAS,
Lessee desires to sublease the Aircraft from Lessor, and Lessor desires to sublease the Aircraft to Lessee, on a non-exclusive “dry lease” basis in accordance with the terms and conditions as set forth herein; and 
 WHEREAS, the parties have previously entered into that certain Non-exclusive Aircraft Sublease Agreement dated as of June 11, 2008 (the
“Prior Agreement”) and wish to amend and restate the Prior Agreement in its entirety effective as of the date hereof. 
 NOW
THEREFORE, in consideration of the promises and mutual covenants contained herein, and for good and valuable consideration, the parties hereby agree as follows: 
 ARTICLE ONE 
 LEASE OF AIRCRAFT 
 1.1 Lessor agrees to lease to Lessee the Aircraft without crew on a non-exclusive basis, subject to the availability of the Aircraft when Lessee desires to operate same and at the price and terms and conditions herein
contained. 
  

	1.2	Lessor agrees to lease the Aircraft to Lessee in an airworthy, fully maintained condition. 

 ARTICLE TWO 
 TERM 
 2.1 This Lease shall commence as of the date hereof and shall automatically be renewed from year to year thereafter under the same terms and conditions set forth herein,
unless and until terminated by either party upon ten (10) days written notice, or as otherwise set forth in Articles 8 and 19 below (the “Term”). 
 2.2 Within thirty (30) days after the date of termination of this Lease, the parties shall make a full accounting and settle all accounts between them. 

 2.3 The obligations under Sections 2.2, 17.1, and 20.5 of this Lease shall survive termination of this Lease and shall
remain in effect until all obligations have been met by the parties hereunder. 
 ARTICLE THREE 
 PAYMENT 
 3.1 Lessee shall pay Lessor as set forth in
Schedule 1. The charges specified in this Article may be adjusted periodically by the written mutual consent of both parties. Lessor shall provide Lessee with monthly invoices for Lessee’s use of the Aircraft. Payment is due within thirty
(30) days of Lessee’s receipt of any such invoice and any supporting documentation requested by Lessee. 
 ARTICLE FOUR

 AIRCRAFT SCHEDULING 
 4.1 During the
Term, Lessor agrees to make the Aircraft available for sublease to Lessee under this Lease at Lessee’s request, subject only to its availability and Lessor’s standard scheduling procedures. 
 ARTICLE FIVE 
 OPERATIONAL CONTROL
AND PILOTS 
 5.1 Lessee shall have operational control as well as possession, command and control of the Aircraft at all times when Lessee is using the
Aircraft under this Lease. As used herein, “operational control” means the exercise of authority over initiating, conducting or terminating each flight. Lessee shall be responsible for providing pilots for Lessee’s flights; in
carrying out their duties and responsibilities as pilots of Lessee’s flights, including pre-flight and post-flight duties, all such pilots shall act as Lessee’s direct employees or agents, as the case may be. Such pilots shall meet all
applicable Federal Aviation Administration (“FAA”) and insurance requirements. 
 ARTICLE SIX 
 OPERATING EXPENSES 
 6.1 Lessee shall be responsible
for all flight -specific direct operating expenses incurred in connection with its use of the Aircraft, including, but not limited to, all assessments, fines, penalties, levies, attachments, or any other governmental charges on or arising solely out
of Lessee’s use or operation of the Aircraft and the cost of hiring a qualified flight crew and all related expenses. In addition, Lessee shall pay all flight specific landing fees, ramp fees, hangar rental and related expenses away from the
Permanent Hangar Location specified in Article 15. 
  

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 ARTICLE SEVEN 
 REPAIRS AND MAINTENANCE 
 7.1 Lessor shall be responsible for securing all maintenance, preventive maintenance, and
required or otherwise necessary inspections of the Aircraft, wherever required or performed, all of which shall meet all applicable laws and regulations to assure the continued airworthiness of the Aircraft. No period of maintenance, preventive
maintenance, or inspection shall be delayed or postponed for the purpose of scheduling use of the Aircraft, unless said maintenance or inspection can be safely conducted at a later time in compliance with all applicable laws and regulations. Should
the Aircraft require unscheduled or “on-condition” maintenance while in the possession of Lessee under this Lease, Lessee shall so notify Lessor which shall arrange for the performance of such maintenance. 
 7.2 Lessor will maintain all logs, books, and records pertaining to the Aircraft and its maintenance. Copies of logs, books and records to the extent specifically
related to Lessee’s flights, including all maintenance records pertinent to a determination of the Aircraft’s airworthiness at any time, shall be provided to Lessee or its designated representative upon Lessee’s request. 

ARTICLE EIGHT 
 INSURANCE 

 8.1 Prior to the commencement of this Lease, Lessor shall arrange for insurance with coverages of the types, in the amounts, and including the special
provisions set forth below: 
  

	 	(a)	Aircraft liability insurance, including standard war risk and allied perils, with respect to the Aircraft insuring against liability for bodily injury to or death of persons,
including passengers, and damage to or loss of property, in an amount not less than Five Hundred Million United States Dollars (US$500,000,000.00) combined single limit per occurrence. Such insurance shall contain a severability of interests clause
providing that the insurance shall operate in all respects as if a separate policy had been issued covering each party insured, except with respect to the limit of liability. 

  

	 	(b)	All-risks physical damage (hull) insurance, including war risk and allied perils, with respect to the Aircraft insuring against loss, theft or damage to the Aircraft and any engines
or parts while temporarily removed from the Aircraft, in an amount not less than the full replacement value of the Aircraft. 

  

	 	(c)	All insurance required by this Section 8.1 shall: 

  

	 	(1)	be maintained in full force and effect throughout the Term; 

  

	 	(2)	be provided by insurance carriers reasonably acceptable to Lessee; 

  

 3 

	 	(3)	include a provision that such insurance shall cover the operation of the Aircraft for all uses of the Aircraft, including Federal Aviation Regulations (FAR) Part 91 use by Lessee;

  

	 	(4)	name (i) Lessee, and (ii) Lessee’s officers, directors, employees and affiliates as additional insureds; 

  

	 	(5)	cover a worldwide geographical territory; 

  

	 	(6)	provide that not fewer than thirty (30) days advance written notice shall be given to Lessee of cancellation or material change, lapse of coverage or non-renewal of the policy;
and 

  

	 	(7)	be primary without any right of contribution from insurance which may be maintained by Lessee. 

 8.2 Lessor shall cause the insurance underwriter or broker to provide Lessee with a Certificate of Insurance including a waiver of subrogation in favor of all additional insureds in Section 8.1(c)(4) evidencing
the coverages, limits of liability and special provisions required by Section 8.1 above. Upon each renewal of the policy, Lessor shall cause the insurance underwriter or broker to provide Lessee with a Certificate of Insurance evidencing the
coverages, limits of liability and special provisions required by Section 8.1 above. 
 8.3 Lessor shall be responsible for the insurance policy
premiums for the insurance required under Section 8.1 and shall make payments thereof promptly upon notice from Lessee, or the broker or insurance underwriter. 
 8.4 In the event that, in the opinion of Lessor, the Aircraft is lost, stolen, damaged beyond repair, confiscated, seized or its use appropriated by any government or instrumentality thereof, this Lease shall
terminate and the proceeds of the insurance policy or policies shall be payable to Lessor. 
 ARTICLE NINE 
 TITLE 
 9.1 Lessor has a leasehold interest in the
Aircraft and has full right, power and authority to sublease the Aircraft to Lessee in accordance with the terms of this Lease. It is expressly understood and agreed that this is a contract of leasing, and that Lessee acquires no ownership, title,
property rights or interests in or to the Aircraft (as defined herein) pursuant to this Lease. 
 9.2 Lessee shall not directly or indirectly create, incur,
assume or suffer to exist any lien on or with respect to the Aircraft. Lessee will promptly, at Lessee’s expense, take such action or any part thereof as may be necessary to discharge any such lien. 
  

 4 

 ARTICLE TEN 
 LEGAL USE 
 10.1 Neither party shall maintain, use, operate or store the Aircraft in violation of any law or any
rule, regulation or order of any government or governmental authority having jurisdiction (domestic or foreign), or in violation of any airworthiness certificate, license or registration relating to the Aircraft or its use, or in violation or breach
of any representation or warranty made with respect to the insurance on the Aircraft or any term or condition of such insurance policy. 
 10.2 Lessee may
use the Aircraft only for and on account of its own business and will not use the Aircraft for the purposes of providing transportation of passengers or cargo for compensation or hire; provided, that Lessee may receive reimbursement from a third
party to the extent such reimbursement is authorized under and consistent with the provisions of FAR 91.501. 
 10.3 The Aircraft will not be operated or
located in (i) any area excluded from coverage by the terms of any applicable insurance pursuant to the terms of this Lease or (ii) any recognized or threatened area of hostilities, unless fully covered to Lessor’s satisfaction by war
risk insurance or where the government of the United States of America has assumed liability for (a) any damage, loss, destruction or failure to return possession of the Aircraft and (b) injury to persons or damage to property of others.

 10.4 The Aircraft will, whenever used by Lessee during the Term, be operated by duly qualified pilots employed, paid or contracted for by Lessee, whose
FAA airman certificates are in good standing and who meet the requirements established and specified by the insurance policies required hereunder, and by the FAA. 
 ARTICLE ELEVEN 
 INSPECTION BY LESSOR 
 11.1 Lessee agrees to permit Lessor or any authorized agent of Lessor to inspect the Aircraft at any reasonable time and to furnish any information in respect to the
Aircraft and Lessee’s use that Lessor may reasonably request. 
 ARTICLE TWELVE 
 PAYMENT OF TAXES 
 12.1 Lessor shall pay or cause to be
paid all taxes incurred by reason of its leasehold or its use, as the case may be, of the Aircraft during the Term. 
 12.2 Lessee shall pay all
government-imposed taxes and airport-imposed fees and charges directly associated with Lessee’s use of the Aircraft, including excise taxes, landing fees, overflight charges, customs inspection fees, and any other similar charges or fees which
may be assessed against a specific flight by the Lessee and which would not have arisen but for Lessee’s operation of the Aircraft. 
  

 5 

 ARTICLE THIRTEEN 
 ASSIGNMENT 
 13.1 Neither this Agreement nor any party’s interest herein shall be assignable to any other party,
except that Lessor may assign to an entity that is wholly owned or controlled by Lessor. Subject to the foregoing, this Lease inures to the benefit of, and is binding on, the heirs, legal representatives, successors, and assigns of the parties.
Lessee shall not at any time sublease the Aircraft. 
 ARTICLE FOURTEEN 
 ACCIDENT AND/OR INCIDENT 
 14.1 Lessee shall immediately notify Lessor of any accident or
incident involving the Aircraft, which notification shall specify the time, place, and nature of the accident or incident, any damage to the Aircraft or other property, the names and addresses of parties involved, persons injured, witnesses, owners
of properties damaged, and such other information as may be known. Lessee shall advise Lessor of all correspondence, papers, notices, and documents whatsoever received by Lessee in connection with any claim or demand involving or relating to the
Aircraft or its operation, and shall aid in any investigation instituted by Lessor and in the recovery of damages from third persons liable therefor. 
 ARTICLE FIFTEEN 
 PERMANENT HANGAR LOCATION 
 15.1 The Aircraft shall be permanently based in Van Nuys, California (the “Permanent Hangar Location”), at Lessor’s expense. Lessor may, upon at least ten
(10) days prior written notice to Lessee, change the Permanent Hangar Location to such other location specified in such notice. 
 ARTICLE SIXTEEN 
 RETURN OF AIRCRAFT TO LESSOR 
 16.1 Following each Lessee trip, and upon the expiration of the Term, or upon this Lease’s termination by default, Lessee shall at its expense return the Aircraft to Lessor at the Permanent Hangar Location or
other location mutually agreed by the parties in the same condition as when most recently delivered to Lessee hereunder, normal wear and tear and any item covered by insurance excepted beyond the amount of the deductible. 
 ARTICLE SEVENTEEN 
 INDEMNIFICATION

 17.1 Each party hereto agrees to indemnify and hold harmless the other against all losses, including costs, attorneys fees and expenses, by reason of
claims for injury to or death of persons or loss of or damage to property arising out of or in any manner connected with the performance of such party’s responsibilities under this Lease or the use, operation or maintenance of the Aircraft by
such party, or any breach by such party of any covenant or warranty made herein. Lessor and Lessee agree, however, to waive any claims or losses connected with the use, 

  

 6 

 
operation or maintenance of the Aircraft against each other to the extent that such claims or losses are covered by insurance. Lessee and Lessor agree that
in the event either party shall be liable to the other for any reason relating to this Lease, that under no circumstances shall the damaged party be entitled to any special, punitive or consequential damages, including but not limited to damages for
lost profits. 
 ARTICLE EIGHTEEN 
 DEFAULT 
  

	18.1	A party shall be in default hereunder if at any time during the Term, such party: 

  

	 	(a)	is adjudicated bankrupt or insolvent; or 

  

	 	(b)	files a voluntary petition in bankruptcy or for reorganization; or 

  

	 	(c)	makes a general assignment for the benefit of creditors; or 

  

	 	(d)	suffers a receivership to be appointed for its assets; or 

  

	 	(e)	does not perform any or all of the requirements on its part to be performed under this Lease or is in breach of all or any of the covenants herein contained and fails, within thirty
(30) days after receipt of notice from the other party, to cure such nonperformance or breach. 

 ARTICLE NINETEEN 

 REMEDIES FOR DEFAULT 
 19.1 If any of
the events set forth in Article 18 should occur, the non-defaulting party shall at its sole discretion have any one or more of the following remedies: 
  

	 	(a)	It may sue to collect any and all sums which may be due it hereunder together with any and all damages which may accrue by reason of the other party’s breach of this Lease.

  

	 	(b)	It may by notice in writing terminate this Lease, whereupon all rights of Lessee to the use of the Aircraft or any part thereof shall absolutely cease and terminate but each party
shall otherwise remain liable as herein provided; and thereupon Lessee, if so requested by Lessor, shall at its expense promptly return the Aircraft as required by Article 16 hereof, or Lessor, at its option, may enter upon the premises where the
Aircraft is located and take immediate possession of and remove the same. Lessee specifically authorizes Lessor’s entry upon any premises where the Aircraft may be located for the purpose of, and waives any cause of action it may have arising
from a peaceful retaking of the Aircraft. Lessee shall, without further demand, forthwith pay to Lessor all accrued and unpaid amounts due hereunder. 

  

 7 

	 	(c)	It may perform or cause to be performed any obligation, covenant or agreement of the defaulting party hereunder. The defaulting party agrees to pay all costs and expenses incurred
by the non-defaulting party for such performance and acknowledges that such performance by the non-defaulting party shall not be deemed to cure said event of default. 

  

	 	(d)	It may exercise any other rights or remedies which may be available under the provisions of this Lease, under any of the laws of the United States or under any of the laws of any of
the states of the United States. 

 ARTICLE TWENTY 
 MISCELLANEOUS 
 20.1 EXCEPT AS OTHERWISE PROVIDED IN THIS LEASE, THE AIRCRAFT IS LEASED UNDER
THIS LEASE “AS IS” AND LESSOR AND LESSEE EACH DISCLAIM ALL EXPRESS AND/OR IMPLIED WARRANTIES OF ANY KIND WHATSOEVER WITH RESPECT TO THE PHYSICAL CONDITION, MERCHANTABILITY OR FITNESS OF THE AIRCRAFT FOR ANY PARTICULAR USE OR PURPOSE.
EXCEPT FOR THE WARRANTIES STATED IN THIS LEASE, LESSOR AND LESSEE AGREE THAT THEY HAVE NOT RELIED UPON ANY REPRESENTATION, EXPRESSED OR IMPLIED, BY THE OTHER OR ANYONE ACTING ON THE OTHER PARTY’S BEHALF, WITH RESPECT TO THE PHYSICAL CONDITION,
MERCHANTABILITY OR FITNESS OF THE AIRCRAFT FOR ANY PARTICULAR USE OR PURPOSE. 
 20.2 To the extent consistent with applicable laws and regulations, each
party shall be free to perform any or all of its duties hereunder through the use of subcontractors, agents, or other independent contractors. 
 20.3 Any
notice required or permitted under this Lease shall be given in writing and shall be effective for all purposes if hand delivered to the party designated below or if sent by (a) certified or registered United States mail, postage prepaid; or
(b) by expedited delivery service, either commercial or United States Postal Service, with proof of delivery, addressed as follows: 
  

			
	LESSOR:	    	 M&JK Dream, LLC
 Attn: Breslauer,
Rutman & Anderson LLC
 11400 W. Olympic Boulevard, Suite 550
 Los Angeles, CA 90064

		
	LESSEE:	    	 DreamWorks Animation SKG, Inc.
 Attn: Katherine
Kendrick
 1000 Flower Street
 Glendale, CA
91201

 or to such other address and person as shall be designated from time to time by Lessee or Lessor, as the case may
be, in a written notice to the other in the manner provided for in this paragraph. The notice shall be deemed to have been given at the time of delivery if hand delivered, or in the 

  

 8 

 
case of registered or certified mail, three (3) business days after deposit in the United States mail, or if by expedited delivery, upon first attempted
delivery on a business day. A party receiving notice which does not comply with the technical requirements for notice under this paragraph may elect to waive any deficiencies and treat the notice as having been properly given. 
 20.4 This Lease cannot be changed orally and constitutes the entire contract between the Lessor and the Lessee regarding the subject matter hereof. It shall not be
modified or changed by any expressed or implied promises, warranties, guarantees, representations or other information unless expressly and specifically set forth in this Lease or any addendum thereto properly executed by Lessor and Lessee.

 20.5 This Lease shall be governed by and construed in all respects in accordance with the laws of the State of California. Any dispute arising from or
relating to this Lease, whether brought by Lessee or Lessor, shall be resolved by arbitration as set forth in Schedule 3 herein. 
 20.6 Time is of the
essence in this Lease. 
 20.7 The parties agree that this Lease may be executed in any number of counterparts, each of which, when duly executed, whether by
facsimile or otherwise, shall constitute an original hereof. 
  

	20.8	The parties shall keep a legible copy of this Lease in the Aircraft at all times. 

 ARTICLE TWENTY-ONE 
 TRUTH-IN-LEASING 
  

	21.1	TRUTH IN LEASING STATEMENT UNDER SECTION 91.23 OF THE FEDERAL AVIATION REGULATIONS. 

  

	 	(a)	LESSOR CERTIFIES THAT THE AIRCRAFT, A BOEING 737-7BC (BOEING BUSINESS JET), SERIAL NO. 30782, REGISTERED WITH THE FEDERAL AVIATION ADMINISTRATION AS N800KS, HAS BEEN MAINTAINED AND
INSPECTED UNDER FAR PART 91 DURING THE 12 MONTHS PRECEDING THE EXECUTION OF THIS LEASE AND THAT IT IS IN COMPLIANCE WITH APPLICABLE MAINTENANCE AND INSPECTION REQUIREMENTS. 

  

	 	(b)	LESSOR CERTIFIES THAT THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED UNDER FAR PART 91 FOR OPERATIONS TO BE CONDUCTED UNDER THIS LEASE DURING THE DURATION OF THIS LEASE.

  

	 	(c)	LESSEE CERTIFIES THAT LESSEE, AND NOT LESSOR, IS CONSIDERED RESPONSIBLE FOR OPERATIONAL CONTROL OF THE AIRCRAFT WHEN OPERATED UNDER THIS LEASE DURING THE TERM HEREOF.

  

 9 

	 	(d)	EACH OF LESSEE AND LESSOR CERTIFIES THAT IT UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS. 

  

	 	(e)	LESSEE AND LESSOR UNDERSTAND THAT AN EXPLANATION OF FACTORS BEARING ON OPERATIONAL CONTROL AND PERTINENT FEDERAL AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT
STANDARDS DISTRICT OFFICE. 

 The “Instructions For Compliance with Truth-In-Leasing Requirements” attached as Schedule 2 hereto are
incorporated herein by reference. 
 IN WITNESS WHEREOF, the parties hereto have executed this Lease effective as of the date first above
written. 
  

									
	LESSOR:	 		 	LESSEE:
			
	M&JK Dream, LLC	 		 	DreamWorks Animation SKG, Inc.
					
	By:	 	 /s/ Jeffrey Katzenberg
	 		 	By:	 	 /s/ Lewis Coleman

	Title:	 	President	 		 	Title:	 	President

  

 10 

 SCHEDULE 1 
 Amended and Restated 
 Non-Exclusive Aircraft Sublease Agreement 
 Between 
 M&JK Dream, LLC 

 and 
 DreamWorks
Animation SKG, Inc. 
 Dated as of April 22, 2009 (“Lease”) 
 (Boeing 737-7BC aircraft, S/N 30782, R/N N800KS) 
 For flights occurring on or after
January 1, 2009, for the first 33 hours of use each year (defined as the 12-month period commencing June 1 of each year) the hourly rent will be One United States Dollar ($1.00) for each hour of use under this lease; for use thereafter
during each such year, the hourly rent will be $12,150 for each hour of use under this Lease for flights with 1-10 passengers and $13,500 for each hour of use under this Lease for flights with more than 10 passengers. Such amounts paid by Lessee for
its use of the aircraft shall be reduced by the amounts paid by Lessee for fuel and flight attendants in connection with Lessee’s use of the Aircraft. Beginning on December 1, 2009 and continuing each June 1 and December 1
thereafter that this Lease is in effect (or at such other intervals as Lessor and Lessee shall determine), Lessor and Lessee shall adjust this Schedule 1 as deemed appropriate taking into consideration changes in independent charter rates for
similar aircraft and the operating and other costs associated with the Aircraft (as reported by independent sources, such as costs reports published by Conklin & de Decker Associates Inc. or other third parties deemed reliable by Lessor and
Lessee). 

 SCHEDULE 2 
 INSTRUCTIONS FOR COMPLIANCE WITH 
 “TRUTH IN LEASING” REQUIREMENTS 
  

	1.	Mail a copy of the Lease to the following address via certified mail, return receipt requested immediately upon the execution of the Lease: (14 C.F.R. 91.23 requires that the copy
be sent within twenty-four hours after it is signed.) 

 Federal Aviation Administration 
 Aircraft Registration Branch 
 ATTN: Technical
Section 
 P.O. Box 25724 
 Oklahoma City, Oklahoma 73125 
  

	2.	Telephone or fax the nearest Flight Standards District Office at least forty-eight hours prior to the first flight under this Lease. 

  

	3.	Carry a copy of the Lease in the Aircraft at all times. 

  

 SCHEDULE 3 
 ARBITRATION 
 Any dispute between the Lessor and Lessee (collectively, the “Parties”) under
this Agreement which is not resolved by mutual agreement shall be resolved solely by arbitration as follows: 
 1. Process. A Party may
initiate the arbitration by written notice to the other Party stating that such controversy is subject to resolution in accordance with this Agreement. The site of the arbitration is to be Los Angeles, California. The rules of the American
Arbitration Association (“AAA”) for commercial transactions are to apply, except as modified by this Agreement, and the AAA is not to supervise the arbitration or be paid fees. 
 2. Selection. The arbitration is to be conducted by one arbitrator. The arbitrator is to be a retired judge of the Los Angeles County, California,
Superior Court selected by mutual agreement between the Party initiating the arbitration (the “Initiating Party”) and the other Party; provided that, if the Initiating Party and the other Party cannot mutually agree upon the arbitrator
within a period of 10 days from the date the arbitration process is initiated, then the arbitrator is to be selected by the Presiding Judge of the Los Angeles County Superior Court. In this regard, the Initiating Party and the other Party are, on a
timely basis, to submit to the Presiding Judge the names of three retired judges and the arbitrator is to be selected from such names. 
 3.
Discovery. No interrogatories are to be permitted. Depositions are to be permitted, but no more than three for each party without a specific showing of necessity and approval by the arbitrator, and no single deposition is to extend for more than 7
hours during a one-day period without a specific showing of necessity and approval by the arbitrator. Requests for production of documents are to be responded to (or objected to) within 30 days and otherwise shall be in accordance with the
applicable provisions of the California Code of Civil Procedure. The arbitrator is to establish reasonable time periods for each side in the dispute to provide a summary of the facts and statement of contentions, a list of witnesses appearing at the
hearing and a list of exhibits to be presented at the hearing. 
 4. Final Award. The award of the arbitrator shall be rendered in writing
and is to be final and binding upon the Parties, without appeal; provided that a Party may seek enforcement of the award by appropriate proceedings in a court of competent jurisdiction sitting in the State of California. 
 5. Rules. Notwithstanding the rules of the AAA, the arbitrator is to: 
 5.1 Procedural Rules. Establish the rules of procedure to be applicable to the arbitration proceedings (including discovery subject to the limitations set forth in this Schedule 3); however, no court reporter is to be
permitted; 

 5.2 Fees. Be entitled to require each of the Initiating Party and the other Party to deposit an equal
amount to be set off against the expenses and fees of the arbitrator; and 
 5.3 Attorneys Fees. Include in the award the amount of the
costs of arbitration and attorneys’ fees to be assessed against the party (i.e., the Initiating Party or the other Party) who has lost the arbitration. If each Party has partly lost and partly won, the arbitrator may divide the costs and fees
between the two Parties in accordance with the arbitrator’s best judgment or have each Party absorb their own respective share of costs and their own personal attorneys’ fees. 
 5.4 Waiver. The resolution of all disputes between the Parties by this arbitration process constitutes a waiver by each to a trial by jury or judge of
the dispute as well as any appeal of the decision of the arbitrator; provided, however, that any Party may apply to a court of competent jurisdiction in the State of California for equitable relief pending arbitration, without waiving arbitration of
the dispute. Notwithstanding the foregoing, Lessor hereby irrevocably waives any right to seek or obtain rescission, equitable or injunctive relief related to Lessee’s or its related entities’ production, distribution, license or
exploitation of any motion picture, television program, commercial or other content; and Lessor’s sole and exclusive remedy in connection therewith shall be an action for damages. 
  

 SCHEDULE 1 
 Amended and Restated 
 Non-Exclusive Aircraft Sublease Agreement 
 Between 
 M&JK Dream, LLC 

 and 
 DreamWorks
Animation SKG, Inc. 
 Dated as of April 22, 2009 (“Lease”) 
 (Boeing 737-7BC aircraft, S/N 30782, R/N N800KS) 
 [REDACTED VERSION FOR
TRUTH-IN-LEASING FILING]

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