Document:

Exhibit
10.1

THIS
AGREEMENT IS SUBJECT TO ARBITRATION

	
  STATE OF FLORIDA

  	
   

  	
  §

  
	
   

  	
   

  	
  §

  
	
  COUNTY OF PALM BEACH

  	
   

  	
  §

  

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT is made and entered into as
of the 31st day of August, 2004, by and between Digital Generation Systems,
Inc., a Delaware corporation (the “Company”), and Pamela Maythenyi (the “Employee”).

WHEREAS, the Company desires to enter into an
employment relationship with the Employee on certain terms and conditions as
set forth herein; and

WHEREAS, the Employee is willing to accept such
employment;

NOW, THEREFORE, the parties hereto, in consideration
of the mutual covenants and promises hereinafter contained, do hereby agree as
follows:

1.             Employment. 
The Company hereby employs Employee and Employee hereby accepts
employment by the Company, on the terms and subject to the conditions
hereinafter set forth.

2.             Duties. 
The Employee’s principal duties and responsibilities shall be those
duties assigned to Employee from time to time by the Chief Executive Officer or
Chief Financial Officer of the Company, or such other persons specified by such
officers, provided such duties and responsibilities are commensurate with
Employee’s title as Senior Vice President. 
Employee agrees to perform such services and duties and hold such
offices as may be assigned to her from time to time by the Company and to
devote substantially her full time, energies and best efforts to the
performance thereof to the exclusion of all other business activities.  Notwithstanding the foregoing, the Company
agrees that Employee shall be permitted to attend approximately five meetings
per year on behalf of Heads of Production Associates, Inc., a Florida
corporation owned in part by Employee, at Employer’s expense.  The Company shall, for a minimum of three
years, maintain an office in Boca Raton, Florida, and Employee shall be
assigned to work at such office.

3.             Term.  The
term of employment shall begin on the date hereof and continue until terminated
as herein provided.

4.             Salary and Other Compensation.  As compensation for the services to be
rendered by the Employee to the Company pursuant to this Agreement, the
Employee shall be paid the following compensation and other benefits:

(a)           Salary:  (i) $160,000 from the date hereof until the
first anniversary of the date hereof, (ii) $170,000 from the first anniversary
until the second anniversary of the date hereof, and (iii) $180,000 from the
second anniversary until the third anniversary of the date hereof, each payable
in equal monthly installments in arrears, or such higher compensation as may be
established by the Company from time to time. 
Should the Employee become “Partially Disabled,” which for purposes of
this subsection means the inability because of any physical or emotional
illness to perform her assigned duties under this Agreement for 40 hours per
week, the Employee’s salary shall be adjusted based on the percentage of a
40-hour work week during which Employee is able to perform her duties.  If the Employee, during any period of Partial
Disability, receives any periodic payments representing lost compensation under
any health and accident policy or under any salary continuation insurance
policy, the premiums for which have been paid by the Company, the amount of
salary that the Employee would be entitled to receive from the Company during
the Partial Disability shall be decreased by the amounts of such payments.  Sick days taken by Employee in accordance
with the Company’s sick day policies for its other employees shall not be
considered a Partial Disability.

(b)           Bonus:  Employee shall be eligible to receive an
annual bonus in an amount up to $30,000 per year, provided Employer (or the
division of the Company to which Employee devotes most of her time) achieves at
least that percentage of the budgeted revenues indicated on Exhibit A,
as such Exhibit may be amended by mutual agreement of the parties.  The budget attached as Exhibit A is for
calendar year 2005; the parties agree to negotiate in good faith for budgeted
revenues for subsequent years.

(c)           Stock Options:  The Company shall grant to the Employee stock
options under its 1992 Stock Option Plan, each exercisable into 25,000 shares
of common stock of the Company, at an exercise price per share equal to the fair
market value on the respective date of grant: 
(i) on the date hereof and (ii) if Employee’s employment has not
terminated prior to such time, on each of the first two anniversaries of the
date hereof.

(d)           Employee Benefit
Plans: The Employee shall be eligible to participate, to the extent she may be
eligible, in any profit sharing, retirement, insurance or other employee
benefit plan maintained by the Company.

5.             Vacations and Leave.  The Employee shall be entitled to the same
vacation and leave time as the other employees of the Company performing
similar functions.  At a minimum,
Employee shall be entitled to not less than four weeks paid vacation.

6.             Non-Disclosure of Confidential Information.  The Employee acknowledges that in and as a
result of her employment by the Company, she will be making use of, acquiring,
and/or adding to confidential information of a special and unique nature and
value relating to such matters as the Company’s patents, copyrights,
proprietary information, trade secrets, systems, procedures, manuals,
confidential reports, and lists of customers (which are deemed for all purposes
confidential and proprietary), as well as the nature and type of services
rendered by the

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Company, the equipment and methods used and preferred
by the Company’s customers, and the fees paid by them.  As a material inducement to the Company to
enter into this Agreement and to pay to Employee the compensation stated in
Section 4, Employee covenants and agrees that she shall not, at any time during
or following the term of her employment, directly or indirectly divulge or
disclose for any purpose whatsoever any confidential information that has been
obtained by, or disclosed to, her as a result of her employment by the Company.

7.             Covenants Against Competition.  The Employee acknowledges that the services
she is to render are of a special and unusual character with a unique value to
the Company, the loss of which cannot adequately be compensated by damages in
action at law.  In view of the unique
value to the Company of the services of Employee because of the confidential
information to be obtained by or disclosed to Employee, as hereinabove set
forth, and as a material inducement to the Company to enter into this Agreement
and to pay to Employee the compensation stated in Section 4, Employee covenants
and agrees that during Employee’s employment and for a period of four years
after she ceases to be employed by the Company for any reason, she will not,
except as otherwise authorized by this Agreement, compete with the Company or
any affiliate of the Company, solicit the Company’s customers or the customers
of any affiliate or directly or indirectly solicit for employment any of the
Company’s employees.  Notwithstanding the
foregoing, Employee shall have the right to be employed by, or provide
consulting services to, an advertising agency so long as such employment or
consulting services do not relate to advertising and production database
information services.  Furthermore, the
restrictive covenants set forth in this Section 7 shall be void and
inapplicable in the event this Agreement is terminated by Employee due to a
material breach by the Company that is not remedied within thirty (30) days
after written notice thereof.  For purposes
of this Section:

(a)           the term “compete”
means engaging in the same or any substantially similar business as the Company
or any of its affiliates in any manner whatsoever (other than as a passive
investor), including without limitation, as a proprietor, partner, investor,
shareholder, director, officer, employee, consultant, independent contractor,
or otherwise;

(b)           the term “affiliate”
means any legal entity that directly or indirectly through one or more
intermediaries controls, is controlled by, or is under the common control with
the Company; and

(c)           the term “customers”
means all persons to whom the Company or any of its affiliates has sold any
product or service whether or not for compensation within a period of five
years prior to the time Employee ceases to be employed by the Company.

8.             Reasonableness of Restrictions

(a)           The Employee has
carefully read and considered the provisions of Sections 6 and 7, and, having
done so, agrees that the restrictions set forth in these sections, including,
but not limited to, the time period of restriction and geographical areas of
restriction are fair and reasonable and are reasonably required for the
protection of the interests of the Company and its parent or subsidiary
companies, officers, directors, shareholders and other Employees.

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(b)           In the event that,
notwithstanding the foregoing, any of the provisions of Sections 6 and 7 shall
be held to be invalid or unenforceable, the remaining provisions thereof shall
nevertheless continue to be valid and enforceable as though the invalid or
unenforceable parts had not been included therein.  In the event that any provision of Sections 6
or 7 relating to the time period and/or the areas of restriction and/or related
aspects shall be declared by a court of competent jurisdiction to exceed the
maximum restrictiveness such court deems reasonable and enforceable, the time
period and/or areas of restriction and/or related aspects deemed reasonable and
enforceable by the court shall become and thereafter be the maximum restriction
in such regard, and the restriction shall remain enforceable to the fullest
extent deemed reasonable by such court.

9.             Remedies for Breach of Employee’s Covenants of
Non-Disclosure and Noncompetition. 
In the event of a breach of any of the covenants in Sections 6 and 7,
the Company shall have the right to seek monetary damages for any such
breach.  In addition, in the event of a
breach or threatened breach of any of the covenants in Section 6 and 7, the
Company shall have the right to seek equitable relief, including specific
performance by means of an injunction against the Employee or against the
Employee’s partners, agents, representatives, servants, employers, employees,
family members and/or any and all persons acting directly or indirectly by or
with her, to prevent or restrain any such breach.

10.           Termination.  Employment of the Employee under this
Agreement may/will be terminated:

(a)           By the Employee’s
death.

(b)           If the Employee is
Totally Disabled.  For the purposes of
this Agreement, the Employee will be totally disabled if she is “totally
disabled” as defined in and for the period necessary to qualify for benefits
under any disability income insurance policy and any replacement policy or
policies covering Employee and the Employee has been declared to be totally
disabled by the insurer for a period of three consecutive months.

(c)           When the Employee
reaches mandatory retirement age under any retirement policy applicable to
Employee.

(d)           By mutual agreement
of the Employee and the Company.

(e)           By the dissolution
and liquidation of the Company (other than as part of a reorganization, merger,
consolidation or sale of all or substantially all of the assets of the Company
whereby the business of the Company is continued).  In such event, the restrictive covenants in
Section 7 above shall be inapplicable with respect to Employee.

(f)            By the Company for
Just Cause.  This Agreement and the
Employee’s employment with the Company may be terminated for “Just Cause” at
any time in accordance with subsection (h) of this section.  For purposes of this Agreement, Just Cause
shall mean only the following:  (i) a
conviction of or a plea of guilty or nolo
contendre by the Employee to a felony or misdemeanor involving
fraud, embezzlement, theft or dishonesty or other criminal conduct, (ii)
habitual neglect of the Employee’s duties or failure by the Employee to perform
or observe any substantial lawful obligation of such employment that is not
remedied within thirty

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(30) days
after written notice thereof from the Company or its Board of Directors or
(iii) any material breach by the Employee of this Agreement or written policies
of the Company applicable to employees generally that can be remedied and is
not remedied within thirty (30) days after written notice thereof from the
Company or its Board of Directors. 
Should the Employee dispute whether she was terminated for Just Cause,
then the Company and the Employee shall enter immediately into binding
arbitration pursuant to the Commercial Arbitration Rules of the American
Arbitration Association, the cost of which shall be the non-prevailing party.

(g)           At the election of
the Employee upon six months advance notice or upon material breach of the
terms hereof by the Company.

(h)           Notice of
Termination.  Any purported termination
by the Employee’s employment, either by the Company for Just Cause or by the
Employee pursuant to Section 10(g), shall be communicated by a written Notice
of Termination to the other party hereto. 
Such notice shall indicate a specific termination provision in this
Agreement which is relied upon, recite the facts and circumstances claimed to
provide the basis for such termination and specify the “Date of Termination.”  As used in this Agreement, Date of
Termination shall mean the date specified in the Notice of Termination, which
date shall not be less than thirty (30) nor more than sixty (60) days from the
date the Notice of Termination is given. 
If within thirty (30) days from the date the Notice of Termination is
given, the party receiving such notice notifies the other party that a dispute
exists concerning such termination, the Date of Termination shall be the date
on which the dispute is finally resolved. 
The Date of Termination shall be extended by a notice of dispute only if
such notice is given in good faith and the party giving such notice pursues the
resolution of such dispute by entering immediately into binding arbitration
pursuant to the Commercial Arbitration Rules of the American Arbitration
Association, the cost of which shall be borne by the non-prevailing party.

(i)            At the end of three
years from the date hereof.

(j)            In the event
Employee’s employment is terminated by the Company without Just Cause, or for
any reason not covered by subsections 10(a) through 10(g) above, the Company
shall pay to Employee the amount otherwise payable to Employee for the
remainder of the term this Agreement in accordance with Employer’s normal
payroll practices as though Employee were employed by the Company through the
end of such term.  Furthermore, the
restrictive covenants in Section 7 shall become inapplicable.

11.           Payments Upon Termination.  If the Employee is terminated upon death
pursuant to 10(a), Total Disability pursuant to Section 10(b), retirement
pursuant to Section 10(c), mutual agreement of Employer and Employee
pursuant to Section 10(d), dissolution and liquidation of the Company
pursuant to Section 10(e), Just Cause pursuant to Section 10(f), at
Employee’s election pursuant to Section 10(G), or time certain pursuant to
Section 10(i), the Employee shall be entitled to all arrearages of salary
and expenses as of the Date of Termination but shall not be entitled to further
compensation.

12.           Resignation Upon Termination.  In the event of termination of this Agreement
other than for death, the Employee hereby agrees to resign from all positions
held in the

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Company, including without limitations any position as
a director, officer, agent, trustee or consultant of the Company or any
affiliate of the Company.  For the
purposes of this provision, the term “affiliate” has the same meaning as in
Section 7.

13.           Waiver.  A party’s failure to insist on compliance or
enforcement of any provision of this Agreement, shall not affect the validity
or enforceability or constitute a waiver of future enforcement of that
provision or of any other provision of this Agreement by that party or any
other party.

14.           Governing Law.  This Agreement shall in all respects be
subject to, and governed by, the laws of the State of Florida.  Venue for any litigation or arbitration
arising out of this Agreement shall be proper only in Palm Beach County,
Florida.  The parties hereto hereby
consent to the personal jurisdiction of the state and Federal courts situated
in Palm Beach County, Florida.

15.           Severability.  The invalidity or unenforceability of any
provision in the Agreement shall not in any way affect the validity or
enforceability of any other provision, and this Agreement shall be construed in
all respects as if such invalid or unenforceable provision had never been in
the Agreement.

16.           Notice.  Any and all notices required or permitted
herein shall be deemed delivered if delivered personally or if mailed by
registered or certified mail to the Company at its principal place of business
and to the Employee at the address hereinafter set forth following the Employee’s
signature, or at such other address or addresses as either party may hereafter
designate in writing to the other.

17.           Amendments.  This Agreement may be amended at any time by
mutual consent of the parties hereto, with any such amendment to be invalid
unless in writing, signed by the Company and the Employee.

18.           Entire Agreement.  This Agreement, along with the Company
handbook to the extent it does not specifically conflict with any provision of
this Agreement, contains the entire agreement and understanding by and between
the Employee and the Company with respect to the employment of the Employee,
and no representations, promises, agreements, or understandings, written or
oral, relating to the employment of the Employee by the Company not contained
herein shall be of any force or effect.

19.           Burden and Benefit.  This Agreement shall be binding upon, and
shall inure to the benefit of, the Company and Employee, and their respective
heirs, personal and legal representatives, successors, and assigns.

20.           References to Gender and Number
Terms.  In construing this Agreement,
feminine or number pronouns shall be substituted for those masculine in form
and vice versa, and plural terms shall be substituted for singular and singular
for plural in any place which the context so requires.

21.           Headings.  The various headings in this Agreement are
inserted for convenience only and are not part of the Agreement.

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22.           Assignment.  This Agreement is not assignable by either
party without the prior written consent of the other party.

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK.]

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IN WITNESS WHEREOF, the Company and Employee have duly
executed this Agreement as of the day and year first above written.

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  DIGITAL GENERATION SYSTEMS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ SCOTT K. GINSBURG

  
	
   

  	
   

  	
  Scott K. Ginsburg

  
	
   

  	
   

  	
  Chief Executive Officer

  

 

Address
for Notice Purposes:

Digital Generation Systems, Inc.

750 West John Carpenter Freeway

Suite 700

Irving, Texas 75039

Attention:  Chief Financial Officer

	
   

  	
  EMPLOYEE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ PAMELA MAYTHENYI

  
	
   

  	
  PAMELA MAYTHENYIExhibit
10.2

THIS
AGREEMENT IS SUBJECT TO ARBITRATION

	
  STATE OF TEXAS

  	
   

  	
  §

  
	
   

  	
   

  	
  §

  
	
  COUNTY OF DALLAS

  	
   

  	
  §

  

 

AMENDED
AND RESTATED EMPLOYMENT AGREEMENT

THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”)
is made and entered into as of the 30th day
of August, 2006, but effective as of the 1st day of July,
2006, by and between Digital Generation Systems, Inc., a Delaware corporation
(the “Corporation”), and Neil Nguyen (the “Employee”).

WHEREAS, the Corporation and Employee are parties to
an Employment Agreement made and entered into as of the 29th day of March, 2005 (the “Prior Agreement”),
which sets forth the terms and conditions of Employee’s employment with the
Corporation; and

WHEREAS, the Corporation and Employee desire to amend
and restate the Prior Agreement on the terms and conditions as set forth
herein;

NOW, THEREFORE, the parties hereto, in consideration
of the mutual covenants and promises hereinafter contained, do hereby agree as
follows:

1.             Employment.  The Corporation hereby employs Employee in
the capacity of Executive Vice President – Sales and Operations, or
in such other position of the same or greater stature as the Corporation may
direct or desire (provided that the Corporation may hereafter designate that
the responsibility for operations may be assigned to another person), and
Employee hereby accepts the employment, on the terms and subject to the
conditions hereinafter set forth.

2.             Duties.  The Employee’s principal duties and
responsibilities shall be to manage the Corporation’s sales and operations
personnel or such other duties consistent with his position reasonably assigned
to Employee from time to time by the Chief Executive Officer.  Employee agrees to perform such services and
duties and hold such offices as may be reasonably assigned to him from time to
time by the Corporation, consistent with his position, and to devote
substantially his full time, energies and best efforts to the performance
thereof to the exclusion of

all other business activities,
except any other activities as the Corporation may consent to in writing.  As the Corporation’s Executive Vice
President – Sales and Operations, all operation and sales personnel
shall report to Employee.

3.             Term.  The term of employment hereunder shall begin
on the effective date hereof and continue for three (3) years unless earlier
terminated as herein provided.

4.             Salary and Other Compensation.  As compensation for the services to be
rendered by the Employee to the Corporation pursuant to this Agreement, the
Employee shall be paid the following compensation and other benefits:

(a)           Base Salary.  $210,000 for the twelve months ending
June 30, 2007, $230,000 for the twelve months ending June 30, 2008
and $240,000 for the twelve months ending June 30, 2009, each payable in
equal bi-weekly installments or in accordance with the Corporation’s then
standard practices, or such higher compensation as may be established by the
Corporation from time to time (“Base Salary”).  Any increase in Base Salary shall
automatically amend this Agreement to provide thereafter that Employee’s Base
Salary shall not be less then the annual amount to which the Base Salary has
been increased.  If the Employee, during
any period of Partial Disability, receives any periodic payments representing
lost compensation under any health and accident policy or under any salary
continuation insurance policy, the premiums for which have been paid by the
Corporation, the amount of salary that the Employee would be entitled to
receive from the Corporation during the Partial Disability shall be decreased
by the amounts of such payments.  “Partially
Disabled,” for purposes of this subsection, means the inability because of any
physical or emotional illness to perform his assigned duties under this
Agreement for forty (40) hours per week.

(b)           Bonus.  Employee shall be eligible to receive an
annual bonus, within 45 days after the end of each calendar year ending during
the term of this Agreement, in an amount up to $75,000 per year, to be determined
as provided pursuant to Exhibit A hereto.

(c)           Stock Options.  The Corporation may grant to the Employee
options to purchase shares of the Corporation’s common stock under its
then-existing stock option plan at the Corporation’s sole discretion.

(d)           Car Allowance.  The Corporation shall pay to the Employee a
car allowance in an amount equal to $500 per month, in arrears, during the
Employment Term.

(e)           Commission.  Employee shall receive a monthly bonus in an
amount equal to all ADS revenues of the Corporation and its subsidiaries, multiplied
by .0007, payable in accordance with the Corporation’s then standard
practices; provided, however, that if all ADS revenues of the
Corporation and its subsidiaries exceed the budgeted amount for any calendar
month, an additional bonus equal to such revenues multiplied by .0003
will be payable for such calendar month. 
The Corporation and the Employee shall negotiate in good faith regarding
modifications to the foregoing rates for

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each calendar
year following 2006 so that the rates for such calendar year may be adjusted,
if acceptable to the Corporation and the Employee, by February 15 of each
such year.

(f)            Employee Benefit
Plans. The Employee shall be eligible to participate, to the extent he may
be eligible, in any profit sharing, retirement, insurance or other employee
benefit plan maintained by the Corporation.

5.             Life and Health Insurance.  The Corporation, in its discretion, may apply
for and procure in its own name and for its own benefit, life insurance on the
life of the Employee in any amount or amounts considered advisable by the
Corporation, and the Employee shall submit to any medical or other examination
and execute and deliver any application or other instrument in writing,
reasonably necessary to effectuate such insurance.  The Corporation shall provide health
insurance, including major medical coverage, for the Employee, as described in
the “DG Medical Options” schedule, a copy of which has been provided to the
Employee, which schedule may be modified from time to time in the discretion of
the Corporation.  The Corporation shall
be obligated to bear the expenses of the coverage contemplated by the previous
sentence, to the extent provided in such schedule.

6.             Expenses.  The Corporation shall pay, or reimburse the
Employee, for the reasonable and necessary business expenses of the Employee.

7.             Vacations and Leave.  The Employee shall be entitled to four (4)
weeks paid vacation per year.

8.             Non-Disclosure of Confidential
Information.  The Employee acknowledges
that in and as a result of his employment by the Corporation, he will be making
use of, acquiring, and/or adding to confidential information of a special and
unique nature and value relating to such matters as the Corporation’s patents,
copyrights, proprietary information, trade secrets, systems, procedures,
manuals, confidential reports, and lists of customers (which are deemed for all
purposes confidential and proprietary), as well as the nature and type of
services rendered by the Corporation, the equipment and methods used and
preferred by the Corporation’s customers, and the fees paid by them.  As a material inducement to the Corporation
to enter into this Agreement and to pay to Employee the compensation stated in
Section 4, Employee covenants and agrees that he shall not, at any time during
or for three (3) years following the term of his employment, directly or
indirectly divulge or disclose for any purpose whatsoever any confidential
information that has been obtained by, or disclosed to, him as a result of his
employment by the Corporation.

9.             Reasonableness of Restrictions

(a)           The Employee has
carefully read and considered the provisions of Section 8, and, having done so,
agrees that the restrictions set forth in that Section are fair and reasonable
and are reasonably required for the protection of the interests of the
Corporation and its parent or subsidiary corporations, officers, directors,
shareholders, and other Employees.

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(b)           In the event that,
notwithstanding the foregoing, any of the provisions of Section 8 shall be held
to be invalid or unenforceable, the remaining provisions thereof shall
nevertheless continue to be valid and enforceable as though the invalid or
unenforceable parts had not been included therein.  In the event that any provision of Section 8
shall be declared by a court of competent jurisdiction to exceed the maximum
restrictiveness such court deems reasonable and enforceable, the time period
and/or areas of restriction and/or related aspects deemed reasonable and enforceable
by the court shall become and thereafter be the maximum restriction in such
regard, and the restriction shall remain enforceable to the fullest extent
deemed reasonable by such court.

10.           Remedies for Breach of Employee’s
Covenants of Non-Disclosure.  In the
event of a breach or threatened breach of any of the covenants in Section 8,
the Corporation shall have the right to seek monetary damages for any past
breach and equitable relief, including specific performance by means of an
injunction against the Employee or against the Employee’s partners, agents,
representatives, servants, employers, employees, family members and/or any and
all persons acting directly or indirectly by or with him, to prevent or
restrain any such breach.

11.           Termination.  Employment of the Employee under this
Agreement may be terminated:

(a)           By the Employee’s
death.

(b)           If the Employee is
Totally Disabled.  For the purposes of
this Agreement, the Employee will be totally disabled if he is “totally
disabled” as defined in and for the period necessary to qualify for benefits
under any disability income insurance policy and any replacement policy or
policies covering Employee and the Employee has been declared to be totally
disabled by the insurer for a period of three (3) consecutive months.  At a minimum, “totally disabled” shall mean
that employee is unable to perform substantially all of his current duties for
a continuous period of three (3) consecutive months, subject to compliance with
all applicable state and federal laws relating to any requirement the
Corporation may have to accommodate any such disability.

(c)           When the Employee
reaches mandatory retirement age under any retirement policy applicable to all
executive officers adopted by the Corporation.

(d)           By mutual agreement
of the Employee and the Corporation.

(e)           By the dissolution
and liquidation of the Corporation (other than as part of a reorganization,
merger, consolidation or sale of all or substantially all of the assets of the
Corporation whereby the business of the Corporation is continued).

(f)            By the Corporation
for Just Cause.  This Agreement and the
Employee’s employment with the Corporation may be terminated for Just Cause at
any time in accordance with Section 11(g). 
For purposes of this Agreement “Just Cause” shall mean only the
following:  (i) habitual neglect of his
material duties or failure to perform his material obligations under this
Agreement, (ii) refusal or failure to follow lawful directives of the Board,
(iii) commission of an act of fraud, theft, or embezzlement, or (iv) conviction
of a felony or other crime involving moral turpitude;

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provided,
however, that Employee shall have thirty (30) days after written notice
from the Corporation or its Board of Directors to remedy any actions alleged
under subsection (i) or (ii) in the manner reasonably specified by the Board of
Directors (or Compensation Committee thereof). 
Should the Employee dispute whether he was terminated for Just Cause,
then the Corporation and the Employee shall enter immediately into binding
arbitration pursuant to the Commercial Arbitration Rules of the American
Arbitration Association, the cost of which shall be borne by the non-prevailing
party.

(g)           Notice of
Termination.  Any purported termination
of the Employee’s employment by the Corporation for Just Cause shall be
communicated by a written Notice of Termination to the Employee.  Such notice shall recite the facts and
circumstances claimed to provide the basis for such termination and specify the
Date of Termination. As used in this Agreement, “Date of Termination” shall
mean the date specified in the Notice of Termination, which date shall not be
less than thirty (30) nor more than sixty (60) days from the date the Notice of
Termination is given.  If within thirty
(30) days from the date the Notice of Termination is given, the Employee
notifies the Corporation that a dispute exists concerning such termination, the
Date of Termination shall be the date on which the dispute is finally
resolved.  The Date of Termination shall
be extended by a notice of dispute only if such notice is given in good faith
and the Employee pursues the resolution of such dispute by entering immediately
into binding arbitration pursuant to the Commercial Arbitration Rules of the
American Arbitration Association, the cost of which shall be borne by the
non-prevailing party, except as otherwise required by law.

(h)           By Employee for Good
Reason.  This Agreement and the Employee’s employment with the
Corporation may be terminated for Good Reason at any time within ninety (90)
days of the occurrence of Good Reason. 
For purposes of this Agreement “Good Reason” shall mean only the
following:  (i) Employee is required by
the Corporation to move out of the State of California, (ii) the Corporation
breaches any material provision of this Agreement and continues the breach
without cure for thirty (30) days after receipt of written notice of the need
to cure, (iii) a reduction in title below “Executive Vice President” or the
assignment of responsibilities to the Employee inconsistent with such title or
(iv) in the event of a reorganization, merger, consolidation or sale of all or
substantially all of the assets of the Corporation in which the successor to
the Corporation’s business is any other entity, but either such successor does
not assume this Agreement or the surviving entity terminates the employment of
Employee within one (1) year of the change in control, other than for Just
Cause.

(i)            At the end of the
term provided in Section 3 above.

12.           Payments Upon Termination.  In the event Employee’s employment is
terminated by the Corporation except for any reason covered by Sections 11(a)
through 11(f) hereof, or Employee terminates his employment for Good Reason,
the Corporation shall (a) pay to Employee the higher of (i) his Base Salary
(and payment for accrued but unused vacation) otherwise payable to Employee
through the term of this Agreement provided in Section 3 above or (ii) one
year of Employee’s then annual Base Salary, in either case payable in equal
bi-weekly installments or in accordance with the Corporation’s then standard
practices.  If the Employee is

 5
 

terminated by the
Corporation for any reason covered by Sections 11(a) through 11(f) hereof, or
the Employee terminates his employment without Good Reason, the Employee shall
be entitled to all arrearages of salary, expenses and accrued but unused
vacation, as of the Date of Termination, but shall not be entitled to further
compensation.

13.           Indemnification.  The Corporation shall pay for legal counsel
of the Corporation’s choosing to defend and also shall fully indemnify Employee
in connection with any claim, dispute or action arising from Employee
terminating his current employment relationship and entering into the
relationship with the Corporation contemplated by this Agreement.

14.           Resignation Upon Termination.  In the event of termination of this Agreement
other than for death, the Employee hereby agrees to resign from all positions
held in the Corporation, including without limitations any position as a
director, officer, agent, trustee or consultant of the Corporation or any
affiliate of the Corporation.

15.           Waiver.  A party’s failure to insist on compliance or
enforcement of any provision of this Agreement, shall not affect the validity
or enforceability or constitute a waiver of future enforcement of that
provision or of any other provision of this Agreement by that party or any
other party.

16.           Governing Law.  This Agreement shall in all respects be
subject to, and governed by, the laws of the State of California.

17.           Severability.  The invalidity or unenforceability of any
provision in the Agreement shall not in any way affect the validity or
enforceability of any other provision and this Agreement shall be construed in
all respects as if such invalid or unenforceable provision had never been in
the Agreement.

18.           Notice.  Any and all notices required or permitted
herein shall be deemed delivered if delivered personally or if mailed by
registered or certified mail to the Corporation at its principal place of
business and to the Employee at the address hereinafter set forth following the
Employee’s signature, or at such other address or addresses as either party may
hereafter designate in writing to the other.

19.           Assignment.  This Agreement, together with any amendments
hereto, shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors, assigns, heirs and personal
representatives, except that the rights and benefits of either of the parties
under this Agreement may not be assigned without the prior written consent of
the other party.

20.           Amendments.  This Agreement may be amended at any time by
mutual consent of the parties hereto, with any such amendment to be invalid
unless in writing, signed by the Corporation and the Employee.

21.           Entire Agreement.  This Agreement amends and restates in its
entirety the terms and conditions of Employee’s employment with the
Corporation, notwithstanding the terms and conditions of any previous
employment agreement between the Corporation and Employee, including the Prior
Agreement.  This Agreement, along with
the Corporation handbook to the

 6
 

extent it does not
specifically conflict with any provision of this Agreement, contains the entire
agreement and understanding by and between the Employee and the Corporation
with respect to the employment of the Employee, and no representations,
promises, agreements, or understandings, written or oral, relating to the
employment of the Employee by the Corporation not contained herein shall be of
any force or effect.

22.           Burden
and Benefit.  This Agreement shall be
binding upon, and shall inure to the benefit of, the Corporation and Employee,
and their respective heirs, personal and legal representatives, successors, and
assigns.

23.           References
to Gender and Number Terms.  In
construing this Agreement, feminine or number pronouns shall be substituted for
those masculine in form and vice versa, and plural terms shall be substituted
for singular and singular for plural in any place where the context so
requires.

24.           Headings.  The various headings in this Agreement are
inserted for convenience only and are not part of the Agreement.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

 7

IN
WITNESS WHEREOF, the Corporation and Employee have duly executed this Agreement
as of the day and year first above written.

	
   

  	
  CORPORATION:

  
	
   

  	
   

  
	
   

  	
  DIGITAL GENERATION SYSTEMS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ SCOTT K. GINSBURG

  
	
   

  	
  Name:

  	
  Scott K. Ginsburg

  
	
   

  	
  Title:

  	
  Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
  Address for Notice:

  
	
   

  	
   

  
	
   

  	
  Digital Generation Systems, Inc.

  
	
   

  	
  750 West John Carpenter Freeway

  
	
   

  	
  Suite 700

  
	
   

  	
  Irving, Texas 75039

  
	
   

  	
  Attention: Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EMPLOYEE:

  
	
   

  	
   

  
	
   

  	
  /s/ NEIL NGUYEN

  
	
   

  	
  Neil Nguyen, individually

  
					

 

 

Signature Page

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