Document:

Exhibit 10.50

 

Exhibit
10.50

SGX
PHARMACEUTICALS, INC.

NON-EMPLOYEE DIRECTOR

COMPENSATION ARRANGEMENTS

                In
June 2007, the Board of Directors (the “Board”) of SGX
Pharmaceuticals, Inc. (the “Company”), following the
recommendation of the Compensation Committee of the Board, approved
modifications to the cash compensation in the form of annual retainer
fees to be paid to the Company’s chairman. The annual retainer
fees for the non-employee directors are as
follows:

	 	 	 	 
	 	•	 	$75,000 for the Chairman of the Board
and $25,000 for other non-employee members of the Board;
	 	 
	 	•	 	$15,000 for the Chair of the Audit
Committee and $7,500 for the other Audit Committee members;
	 	 
	 	•	 	$5,000 each for the Chair of the
Compensation Committee and the Nominating and Corporate Governance
Committee; and
	 	 
	 	•	 	$2,500 for the other Compensation
Committee and Nominating and Corporate Governance Committee members.

                These
annual retainers are for the non-employee directors’ service on
the Board and the committees of the Board. Each non-employee director
of the Board will receive his or her respective cash compensation
provided such director attends, in person or telephonically, 75% of
the Board or committee meetings, as applicable, during any calendar
year.

                Additionally,
members of the Board who are not employees or officers of the Company
receive nonqualified stock options under the Company’s 2005
Non-Employee Directors’ Stock Option Plan. Each new non-employee
director receives, on the date of such person’s election or
appointment to the Board, an initial grant of a non-statutory stock
option to purchase 12,500 shares of common stock (or in the case of
the Chairman of the Board, an initial grant of a non-statutory stock
option to purchase 15,000 shares) with an exercise price equal to the
then fair market value of the Company’s common stock. On the date of each annual meeting of stockholders of
the Company, each non-employee director is automatically granted a
non-statutory stock option to purchase 10,000 shares of common stock
on that date (or in the case of the Chairman of the Board, an
automatic grant of a non-statutory stock option to purchase 20,000
shares) with an exercise price equal to the then fair market value of
the Company’s common stock. The initial grants vest over a three
year period in a series of 12 successive equal monthly installments
measured from the date of grant. The annual grants vest over a one
year period in a series of 12 successive equal monthly installments
measured from the date of grant. All stock options granted under the
Company’s 2005 Non-Employee Directors Stock Option Plan will
have a maximum term of ten years and will vest in full upon a change
in control.exhibit_10-1.htm

    

      EXHIBIT
        10.1

       

      EMPLOYMENT
        AGREEMENT

       

      

       

       

      This
        EMPLOYMENT AGREEMENT (the “Agreement”), is entered into
        effective as of August 9, 2007 (“Effective Date”), by and between The
        DIRECTV Group, Inc., a Delaware corporation (the “Company”), and Chase
        Carey (“Executive”).

       

      WHEREAS,
        prior to the Effective Date, the Executive has served the Company in an
        executive capacity as President and Chief Executive Officer, pursuant to
        the
        terms of an employment agreement between the Company and the Executive executed
        on March 16, 2004 but effective as of January 1, 2004 (the “Prior
        Agreement”); and

       

      WHEREAS,
        the Company and the Executive desire to continue such employment relationship
        and enter into this Agreement, which will, except as otherwise set forth
        herein,
        supersede the Prior Agreement and set forth the terms and conditions under
        which
        the Company will continue to employ Executive to render services to the Company
        and its affiliates; and

       

      WHEREAS,
        the material terms and conditions of Executive's continued employment, as
        set
        forth in this Agreement, have been approved by the Compensation Committee
        (the
“Compensation Committee”) of the Board of Directors of the Company (the
“Board”) and the Board at meetings held on August 8, 2007.

       

      NOW,
        THEREFORE, in consideration of the promises and mutual agreements
        hereinafter contained, the parties agree as follows:

       

      1.  Employment.
        Duties and
        Acceptance

       

      1.1  Employment
        by the Company

       

      .  The
        Company agrees to continue to employ Executive to render exclusive and full-time
        services to the Company and its subsidiaries for the Term of Employment (as
        hereinafter defined), subject to the terms of this Agreement.  During
        the Term of Employment, Executive shall serve as, and his title shall be,
        President and Chief Executive Officer of the Company.  In such
        capacity, the Executive shall have all powers, duties and responsibilities
        that
        are customary for a president and chief executive officer of a company of
        a
        similar size, type and nature to the Company, including the power and authority
        to supervise and determine the business, affairs and operations of the Company
        and its subsidiaries, including the authority to appoint, supervise, and
        remove
        subordinate officers of the Company and its subsidiaries.  During the
        Term of Employment, Executive shall have such additional duties, but only
        to the
        extent consistent with such position, as may be assigned to him from time
        to
        time by the Board.  In such capacity, Executive shall report
        exclusively to the Board.  In addition, during the Term of Employment,
        Executive shall continue to be designated a director of the Company and of
        each
        material subsidiary of the Company, and shall serve in such capacity or
        capacities without additional compensation.

       

      1.2  Acceptance
        of Employment by Executive

       

      .  Executive
        accepts such employment and agrees to devote his full time and attention
        as
        necessary to fulfill all of the duties of his employment hereunder and shall
        render the services described above.  Without the prior written
        consent of the Company, Executive agrees that he will not, directly or
        indirectly, engage in any other business activities or pursuits so long as
        he is
        performing services for the Company, whether on his own behalf or on behalf
        of
        any other person, firm or corporation, except for making passive investments
        in
        accordance with Section 4.1.1 hereof.  Notwithstanding the foregoing,
        Executive may continue to serve as a director of News Corporation (pending
        his
        resignation), British Sky Broadcasting Group plc., and Colgate University
        and as
        a director of such other companies as shall be agreed to by the Nominating
        and
        Corporate Governance Committee or the Board.

       

      1.3  Place
        of Employment

       

      .  Executive's
        principal place of employment shall be at the Company's offices in New York,
        subject to such travel as the rendering of the services hereunder may require,
        and shall include working at the Company’s offices in El Segundo,
        California.

       

      2.  Term
        of Employment

       

      .  The
        term of employment under this Agreement shall be the period commencing on
        the
        Effective Date and ending on December 31, 2010 (the “Term of
        Employment”).

       

      3.           Compensation
        and Benefits.

       

      2.1  Compensation

       

      .  As
        compensation for all services to be rendered pursuant to this Agreement,
        the
        Company shall pay Executive as follows:

       

      2.1.1  Base
        Salary

       

      .  Executive
        shall be paid, on regular pay dates as now in effect or shall then be in
        effect
        under Company policy, at the rate of $2,222,000 per annum (“Base Salary”)
        subject to increase effective as of each January 1 during the Term of
        Employment, beginning on January 1, 2008, based on the increase, if any,
        in the
        Consumer Price Index for all Urban Consumers for the New York City area (or
        any
        successor Consumer Price Index) based on data published by the Bureau of
        Labor
        Statistics of the United States Department of Labor for the preceding
        year.

       

      2.1.2  Annual
        Bonus

       

      .  For
        each fiscal year ending during the Term of Employment, commencing with the
        fiscal year ending December 31, 2007, Executive shall be eligible to receive
        an
        annual cash bonus (the “Bonus”) pursuant to The DIRECTV Group, Inc.
        Amended and Restated Executive Officer Cash Bonus Plan (the “Cash Plan”), based
        on the achievement of certain targets related to the performance of the Company
        and its subsidiaries (collectively, “DIRECTV”), established with the
        approval of the Compensation Committee.  If Executive achieves the
        target in any such fiscal year, Executive's annual bonus for such fiscal
        year
        shall be 150% of his Base Salary (the “Target Bonus”), subject to
        increase or decrease based on annual performance, as determined by the
        Compensation Committee, provided that the maximum Bonus payable to the Executive
        for any fiscal year shall not exceed the amount permitted under the Cash
        Plan
        based upon objective criteria set by the Compensation Committee with respect
        to
        such fiscal year during the first 90 days of such fiscal year.

       

      2.1.3  Equity
        Awards

      .  Effective
        at the close of business on August 13, 2007 (the “Grant Date”), Executive
        shall be granted equity awards under The DIRECTV Group, Inc. Amended and
        Restated 2004 Stock Plan (the “Stock Plan”) having an aggregate value on
        the Grant Date approximately equal to $20 million (determined as described
        below), consisting of (a) an award of restricted stock units (the “RSU
        Award”) and (b) an award of options for Company common stock (the “Stock
        Option Award”), each as described below:

       

      (a)  RSU
        Award:  The RSU Award shall be evidenced by the Performance Stock
        Unit Award Agreement substantially in the form approved by the Compensation
        Committee (the “Award Agreement”) which shall provide for the issuance of
        a target number of restricted Stock Units equal to the amount determined
        by
        dividing $10 million by the average closing market price on the New York
        Stock
        Exchange for Company common stock for the 90 days prior to the Grant Date,
        and
        rounding up to the nearest hundred (100) units.

       

      (b)   Stock
        Option Award:  The Stock Option Award shall be evidenced by the
        Non-Qualified Stock Option Agreement substantially in the form approved by
        the
        Compensation Committee (the “Option Agreement”) which shall provide for
        non-qualified options to purchase, at an exercise price equal to the fair
        market
        value (the closing market price on the New York Stock Exchange) of a share
        of
        Company common stock on the Grant Date, such number of shares of Company
        common
        stock as have a Black-Scholes value of $10 million at the Grant Date, using
        the
        same valuation methodology as used by the Company in its audited financial
        statements, rounded up to the nearest hundred (100) shares.

       

      2.2  Employee
        Benefit Plans; Perquisites.

       

      2.2.1  Participation
        in Employee Benefit Plans.  During the Term of Employment,
        Executive shall be entitled to participate in all benefit plans or arrangements
        presently in effect or hereafter adopted by the Company applicable to executive
        officers of the Company, including, but not limited to, any pension, group
        medical, dental, disability and life insurance, or other similar benefit
        plans.

       

      2.2.2  Perquisites.   During
        the Term of Employment, the Executive shall be authorized to use the corporate
        jet maintained by the Company (if the Company continues to maintain such
        corporate jet) as required by Executive and otherwise the Company shall pay,
        or
        reimburse Executive, for first-class air travel for Executive, as required
        in
        the performance of his duties hereunder.

       

      2.3  Business
        Expenses.  During the Term of Employment, the Company shall pay,
        or reimburse the Executive for, all expenses reasonably incurred by him in
        connection with his performance of his duties hereunder.

       

       

      3.  Termination
        of
        Employment

       

      3.1  Termination
        Due to Death or Disability

       

      .

       

      (a)  The
        Term
        of Employment and Executive’s employment hereunder shall terminate upon
        Executive’s death and may be terminated by the Company if Executive suffers a
        Disability (as defined on Exhibit A hereto).

       

      (b)  Upon
        termination of Executive’s employment hereunder for either Disability or death,
        Executive or Executive’s estate or beneficiaries (as the case may be) shall be
        entitled to receive:

       

      (i)  an
        amount
        equal to Executive’s Base Salary through the last day of the Term of Employment
        (determined as if such death or Disability did not occur), payable in a lump
        sum
        cash payment to the extent permitted under Section 409A of the Internal Revenue
        Code of 1986, as amended (the “Code”), and, to the extent not so
        permitted, in substantially equal installments, at such times and in such
        manner
        as is in accordance with the Company’s regular payroll practices;

       

      (ii)  payment
        of the pro-rated portion of the Target Bonus for the year in which such
        termination on account of death or Disability occurs, payable promptly, but
        in
        no event later than March 15 following the last day of the fiscal year in
        which
        Executive's termination on account of death or Disability occurred;

       

      (iii)  acceleration,
        vesting and immediate issuance of 100% of the shares of Company common stock
        associated with the RSU Award, at “target”, as provided in the Award
        Agreement;

       

      (iv)  immediate
        acceleration and vesting of the Stock Option Award, with the options to remain
        exercisable throughout the period ending on the  Expiration Date, as
        provided in the Option Agreement; and

       

      (v)  such
        other or additional benefits to which Executive may be entitled in accordance
        with applicable employee benefit plans of the Company.

       

      Following
        such termination of
        Executive’s employment due to death or Disability, except as set forth in this
        Section 4.1(b), Executive shall have no further rights to any compensation
        or
        any other benefits under this Agreement.

       

      3.2  Termination
        by the Company for Cause or by Executive Resignation without Effective
        Termination

       

      (a)  For
        the
        purposes of this Agreement, “Cause” and “Effective Termination” shall be as
        defined on Exhibit A hereto.

       

      (b)  The
        Term
        of Employment and Executive’s employment hereunder may be terminated by the
        Company for Cause and shall terminate automatically upon Executive’s resignation
        without Effective Termination; provided that Executive will be required
        to give the Company at least 60 days advance written notice of a resignation
        without Effective Termination, unless otherwise approved by the
        Board.  In the event the Company terminates Executive's employment for
        Cause or if Executive resigns without Effective Termination, Executive shall
        be
        entitled to receive only:

       

      (i)  Base
        Salary through the date of termination;

       

      (ii)  any
        Target Bonus earned, but unpaid, as of the date of termination for the
        immediately preceding fiscal year, and

       

      (iii)  such
        other or additional benefits to which Executive may be entitled in accordance
        with applicable employee benefit plans of the Company.

       

      Following
        such termination of
        Executive’s employment by the Company for Cause or resignation by Executive
        without Effective Termination, except as set forth in this Section 4.2(b),
        Executive shall have no further rights to any compensation or any other benefits
        under this Agreement.

       

      3.3  Termination
        by the Company without Cause or Resignation by the Executive for Effective
        Termination

       

      .

       

      (a)  The
        Term
        of Employment and Executive’s employment hereunder may be terminated by the
        Company without Cause or by Executive’s resignation for Effective
        Termination.

       

      (b)  If
        Executive’s employment is terminated by the Company without Cause (other than by
        reason of death or Disability) or if Executive resigns for Effective
        Termination, then subject to Executive’s execution, delivery and non-revocation
        of a release of claims against the Company and its affiliates, on a form
        reasonably satisfactory to the Company, Executive shall be entitled to receive,
        in full discharge of all of the Company's obligations to Executive:

       

      (i)  an
        amount
        equal to the greater of (x) Base Salary and Target Bonus for the balance
        of the
        Term of Employment and (y) one times Base Salary and Target Bonus, payable
        in
        substantially equal installments, at such times and in such manner as is
        in
        accordance with the Company’s regular payroll practices;

       

      (ii)  acceleration,
        vesting and immediate issuance of 100% of the shares of Company common stock
        associated with the RSU Award and with Executive’s 2004 RSU Award, at “target”,
        as provided in the Award Agreement;

       

      (iii)  immediate
        acceleration and vesting of the Stock Option Award, with the options to remain
        exercisable throughout the period ending on the Expiration Date, as provided
        in
        the Option Agreement; and

       

      (iv)  such
        other or additional benefits to which Executive may be entitled in accordance
        with applicable employee benefit plans of the Company.

       

      Following
        such termination of Executive’s employment by the Company without Cause (other
        than for death or Disability) or resignation by Executive for Effective
        Termination, except as set forth in this Section 4.3(b), Executive shall
        have no
        further rights to any compensation or any other benefits under this
        Agreement.

       

      3.4  Continued
        Employment Beyond Expiration of the Term of Employment.  Unless
        the parties otherwise agree in writing, continuation of Executive’s employment
        with the Company beyond the expiration of the Term of Employment shall be
        deemed
        an employment at-will and, except as provided below, shall not be deemed
        to
        extend any of the terms of this Agreement and Executive’s employment may
        thereafter be terminated by either Executive or the Company; provided,
        that the provisions of Section 4.1 shall survive any termination of this
        Agreement or Executive’s termination of employment hereunder.

       

      (a)  Sections
        2.1.1, 2.1.2, 2.2, 2.3, and 4.1 hereof shall apply following the expiration
        of
        the Term of Employment during which Executive is an at-will employee (the
        “Post Term Period”).

       

      (b)  If,
        during the Post Term Period, Executive’s employment is terminated by the Company
        for Cause or Executive resigns other than due to an Effective Termination,
        Executive will be entitled to such compensation and benefits as set forth
        in
        Section 3.2(b) of this Agreement.

       

      (c)  If,
        during the Post Term Period, Executive’s employment is terminated by the Company
        without Cause (other than for death or Disability) or Executive resigns due
        to
        an Effective Termination, in either case prior to Executive’s attainment of age
        60, then subject to Executive’s execution, delivery and non-revocation of a
        release of claims against the Company and its affiliates, on a form reasonably
        satisfactory to the Company, Executive shall be entitled to receive, in full
        discharge of all of the Company's obligations to Executive:

       

      (i)  an
        amount
        equal to one times Base Salary and Target Bonus, payable in equal installments
        in accordance with the Company’s regular payroll practices; and

       

      (ii)  such
        other or additional benefits to which Executive may be entitled in accordance
        with applicable employee benefit plans of the Company.

       

      Following
        such termination of Executive’s at-will employment by the Company following the
        expiration of the Term of Employment, except as set forth in this Section
        4.4,
        Executive shall have no further rights to any compensation or any other benefits
        under this Agreement.

       

      3.5   Calculation
        of Bonus

      .  For
        purposes of Section 3.1(b)(ii) above, the pro-rated portion of the annual
        bonus
        referenced in such section shall be determined by multiplying such annual
        bonus
        by a fraction, the numerator of which shall be the number of days during
        such
        fiscal year that Executive was employed and the denominator of which shall
        be
        365.

       

      3.6  No
        Mitigation

       

      .  If
        Executive's employment hereunder is terminated , the Company's payment
        obligations shall be absolute and unconditional, Executive shall not be
        obligated to mitigate his damages, and there shall be no offset against any
        amounts due Executive under this Agreement on account of any remuneration
        attributable to any subsequent employment that Executive may
        obtain.

       

      3.7  Notice
        of Termination.  Any purported termination of employment by the
        Company or by Executive (other than due to Executive’s death) shall be
        communicated by written Notice of Termination to the other party hereto in
        accordance with Section 6.1 hereof.  For purposes of this Agreement, a
“Notice of Termination” shall mean a notice which shall indicate the specific
        termination provision in this Agreement relied upon and shall set forth in
        reasonable detail the facts and circumstances claimed to provide a basis
        for
        termination of employment under the provision so indicated.

       

      3.8  Board/Committee
        Resignation.  Upon termination of Executive’s employment for any
        reason, Executive agrees to resign, as of the date of such termination and
        to
        the extent applicable, from the Board (and any committees thereof) and the
        Board
        of Directors (and any committees thereof) of any of the Company’s subsidiaries
        or affiliates.

       

      4.  Certain
        Covenants of
        Executive

       

      4.1  Covenants
        Against Competition

       

      .  Executive
        acknowledges that the services to be furnished by Executive hereunder and
        the
        rights and privileges granted to the Company by Executive are of a special,
        unique, unusual, extraordinary and intellectual character which give them
        a
        peculiar value, the loss of which cannot be reasonably or adequately compensated
        in damages in any action at law, and a breach or threatened breach by Executive
        of any of the provisions contained in this Section 4.1 will cause the Company
        irreparable injury and damage. In order to induce the Company to enter into
        this
        Agreement, Executive covenants and agrees that:

       

      4.1.1  Non-Compete

       

      .  Executive
        agrees that, while employed by the Company and thereafter until the later
        of (x)
        December 31, 2010 and (y) 12 months following any termination of employment,
        he
        will not, in any manner directly or indirectly, own, manage, operate, join,
        control or participate in the ownership, management, operation or control
        of, or
        be employed by, or connected in any manner with, in any capacity (including,
        without limitation, as an employee, consultant, officer, director, partner,
        advisor or joint venturer), or provide services to or on behalf of, any
        corporation, firm or business, or any affiliate of any corporation, firm
        or
        business, that directly or indirectly engages in any business which competes
        with the Company or any of its affiliates in the multi-channel video programming
        distribution business in the United States or in Latin America (whether
        satellite, cable, telephone or other method of distribution).  The
        foregoing does not prohibit Executive’s ownership of less than five percent (5%)
        of the outstanding common stock of any company whose shares are publicly
        traded
        on a national stock exchange, are reported on NASDAQ, or are regularly traded
        in
        the over-the-counter market by a member of a national securities
        exchange.

       

      4.1.2  Code
        of Ethics and Business Conduct

       

      .  Executive
        agrees to abide by the provisions of the Company’s Code of Ethics and Business
        Conduct (receipt of which is hereby acknowledged) at all times during his
        employment with the Company.

       

      4.1.3  Non-Solicitation.   Executive
        shall not, while employed by the Company and thereafter until the later of
        (x)
        December 31, 2010 and (y) 12 months following any termination of employment,
        directly or indirectly (i) induce, solicit or attempt to induce or solicit
        any
        executive, professional or administrative employee of the Company or any
        of its
        affiliates, to leave the Company or its affiliates or to render services
        for any
        other person, firm or corporation or (ii) induce or attempt to induce any
        key
        programming or equipment supplier, or key distributor, to terminate or
        materially adversely change its relationship with the Company or any of its
        affiliates.

       

      4.1.4  Property
        of the Company

       

      .  Executive
        acknowledges that the relationship between the parties hereto is exclusively
        that of employer and employee, and that the Company’s obligations to him are
        exclusively contractual in nature.  The Company and/or its affiliates
        shall be the sole owner or owners of all the fruits and proceeds of Executive’s
        services hereunder, including, but not limited to, all ideas, concepts, formats,
        suggestions, developments, arrangements, designs, packages, programs, scripts,
        audio visual materials, promotional materials, photography and other
        intellectual properties and creative works which Executive may prepare, create,
        produce or otherwise develop in connection with and during his employment
        hereunder, including, without limitation, all copyrights and all rights to
        reproduce, use, authorize others to use and sell such properties or works
        at any
        time or place for any purpose, free and clear of any claims by Executive
        (or
        anyone claiming under him) of any kind of character whatsoever (other than
        Executive’s right to compensation hereunder).  Executive agrees that
        he will have no right in or to such properties or works and shall not use
        such
        properties or works for his own benefit or the benefit of any other
        person.  Executive shall, at the request of the Company, execute such
        assignments, certificates, applications, filings, instruments or other
        documents, consistent herewith, as the Company may from time to time reasonably
        deem necessary or desirable to evidence, establish, maintain, perfect, protect,
        enforce or defend its right, title and interest in or to any such properties
        or
        works.

       

      4.1.5  Confidential
        Information

       

      .  With
        the exception of Executive's personal files, all memoranda, notes, records
        and
        other documents made or compiled by Executive, or made available to him during
        his employment with the Company concerning the business or affairs of the
        Company or its affiliates shall be the Company's property and shall be delivered
        to the Company on the termination of this Agreement or at any other time
        on
        request.  Executive shall keep in confidence and shall not use for
        himself or others, or divulge to others, any information concerning the business
        or affairs of the Company or its affiliates which is not otherwise publicly
        available and which is obtained by Executive as a result of his employment,
        including, but not limited to, trade secrets or processes and information
        deemed
        by the Company to be proprietary in nature, including, without limitation,
        financial information, programming or plans of the Company or its affiliates,
        unless disclosure is permitted by the Company or required by law.

       

      4.1.6  Right
        to Use Name

       

      .  The
        Company and its affiliates shall have the right to use Executive's biography,
        name and likeness in connection with their business, including in advertising
        its products and services, but not for use as a direct or indirect
        endorsement.

       

      4.1.7  Cooperation

       

      .  Executive
        agrees that while employed by the Company and at any time thereafter, he
        will
        cooperate in the Company's defense or prosecution against any threatened
        or
        pending litigation or in any investigation or proceeding by any governmental
        agency or body (or any appeal from any such litigation, investigation or
        proceeding) that relates to any events or actions which occurred during the
        Term
        of Employment or any Post Term Period.

       

      4.1.8  Survival

       

      .  The
        covenants set forth above in this Section 5.1 (the “Restrictive
        Covenants”) shall survive the termination of this Agreement.

       

      4.2  Severability
        of Covenants

       

      .  If
        any court determines that any of the Restrictive Covenants, or any part thereof,
        is invalid or unenforceable, the remainder of the Restrictive Covenants shall
        not thereby be affected and shall be given full effect, without regard to
        the
        invalid portions.

       

      4.3  Blue-Pencilling

       

      .  If
        any court construes any of the Restrictive Covenants, or any part thereof,
        to be
        unenforceable because of the duration of such provision or the area covered
        thereby, such court shall have the power to reduce the duration or area of
        such
        provision and, in its reduced form, such provision shall then be enforceable
        and
        shall be enforced.

       

      5.  Executive
        Representation.  Executive represents and warrants to the Company
        that the execution and delivery of this Agreement by Executive and the Company
        and the performance by Executive of his duties hereunder shall not constitute
        a
        breach of, or otherwise contravene, the terms of any employment agreement
        or
        other agreement or policy to which Executive is a party or otherwise
        bound.

       

      6.  Other
        Provisions

       

      6.1  Notices

       

      .  Any
        notice or other communication required or which may be given hereunder shall
        be
        in writing and shall be deemed to have been duly given when delivered by
        hand or
        overnight courier or two days after it has been mailed by United States express
        or registered mail, return receipt requested, postage prepaid, addressed
        to the
        respective addresses set forth below:

       

      
        	
                (a)           If
                  to the Company, to:

              	
                The
                  DIRECTV Group, Inc.

                2230
                  E. Imperial Highway

                El
                  Segundo, CA 90245

                Attention:
                  Corporate Secretary

                Telecopy:
                  (310) 964-0838

              
	
                (b)           If
                  the Executive, to:

              	
                Chase
                  Carey

                61
                  Summersweet Lane

                New
                  Canaan, CT 06840

              

      

      Such
        addresses may be changed by written notice sent to the other party at the
        last
        recorded address of that party.  Notice of change of address shall be
        effective only upon receipt.

       

      6.2  Entire
        Agreement.  This Agreement contains the entire understanding of
        the parties with respect to the employment of Executive by the
        Company.  There are no restrictions, agreements, promises, warranties,
        covenants or undertakings between the parties with respect to the subject
        matter
        herein other than those expressly set forth herein.  This Agreement
        supersedes all prior agreements and understandings (including verbal agreements)
        between Executive and the Company and/or its affiliates regarding the terms
        and
        conditions of Executive’s employment with the Company and/or its affiliates
        including, without limitation, the Prior Agreement.  The 2004 Stock
        Plan Performance Stock Unit Award Agreement dated as of March 16, 2004, and
        the
        2004 Stock Plan Non-Qualified Stock Option Agreement dated as of March 16,
        2004
        between the Company and Executive, shall each remain in effect in accordance
        with their respective terms, except that references in each such agreement
        to
        the “Employment Agreement” shall mean this Agreement, rather than the Prior
        Agreement.

       

      6.3  Waivers
        and Amendments

      .  This
        Agreement may be amended, modified, superseded, canceled, renewed or extended,
        and the terms and conditions hereof may be waived, only by a written instrument
        signed by the parties or, in the case of a waiver, by the party waiving
        compliance.  No delay on the part of any party in exercising any
        right, power or privilege hereunder shall operate as a waiver thereof, nor
        shall
        any waiver on the part of any party of any right, power or privilege hereunder,
        nor any single or partial exercise of any right, power or privilege hereunder
        preclude any other or further exercise thereof or the exercise of any other
        right, power or privilege hereunder.

       

      6.4  Governing
        Law; Consent to Jurisdiction

       

      .  This
        Agreement shall be governed by and construed in accordance with the laws
        of the
        State of New York applicable to agreements made within the State of New York,
        without regard to its conflict of law rules which are deemed applicable
        herein.  The parties hereto agree that any controversy which may arise
        under this Agreement or out of the relationship established by this Agreement
        would involve complicated and difficult factual and legal issues and that,
        therefore, any action brought by the Company against Executive or brought
        by
        Executive, alone or in combination with others, against the Company, whether
        arising out of this Agreement or otherwise, shall be determined by a judge
        sitting without a jury.

       

      6.5  Assignment

       

      .  This
        Agreement and the Executive's rights and obligations hereunder may not be
        assigned by Executive.  Any purported assignment or delegation by
        Executive in violation of the foregoing shall be null and void ab initio
        and of
        no force and effect.  The Company may assign this Agreement and its
        rights, together with its obligations hereunder, to an affiliate of the Company
        or to a person or entity which is a successor in interest to substantially
        all
        of the business operations of the Company.  Upon such assignment, the
        rights and obligations of the Company hereunder shall become the rights and
        obligations of such affiliate or successor person or entity.

       

      6.6  Successors;
        Binding Agreement.  This Agreement shall inure to the benefit of
        and be binding upon personal or legal representatives, executors,
        administrators, successors, heirs, distributees, devisees and
        legatees.

       

      6.7  Section
        409A of the Code.  Notwithstanding anything herein to the
        contrary, (i) if, at the time of the Executive’s termination of employment with
        the Company, the Executive is a “specified employee” as defined in Section 409A
        of the Code, and the deferral of the commencement of any payments or benefits
        otherwise payable hereunder as a result of such termination of employment
        is
        necessary in order to prevent the imposition of any accelerated or additional
        tax under Section 409A of the Code, then the Company will defer the commencement
        of the payment of any such payments or benefits hereunder (without any reduction
        in such payments or benefits ultimately paid or provided to the Executive)
        until
        the date that is six months following the Executive’s termination of employment
        with the Company (or the earliest date as is permitted under Section 409A
        of the
        Code) and (ii) if any other payments of money or other benefits due to the
        Executive hereunder would cause the application of an accelerated or additional
        tax under Section 409A of the Code, such payments or other benefits shall
        be
        deferred if deferral will make such payment or other benefits compliant under
        Section 409A of the Code, or otherwise such payment or other benefits shall
        be
        restructured, to the extent possible, in a manner, determined by the
        Compensation Committee or the Board, that does not cause such an accelerated
        or
        additional tax or result in an additional cost to the Company.  The
        Company shall consult with its legal counsel and tax accountants in good
        faith
        regarding the implementation of the provisions of this Section 7.7, which
        shall
        be done only in a manner that is reasonably acceptable to the Executive;
        provided, however, that neither the Company, any subsidiary or other
        affiliate of the Company, nor any of their employees or representatives shall
        have any liability to the Executive with respect thereto.

       

      6.8  Withholding
        Taxes.  The Company may withhold from any amounts payable under
        this Agreement such Federal, state and local taxes as may be required to
        be
        withheld pursuant to any applicable law or regulation.

       

      6.9  Counterparts

       

      .  This
        Agreement may be executed in two or more counterparts, each of which shall
        be
        deemed an original but all of which together shall constitute one and the
        same
        instrument.

       

      6.10  Headings

       

      .  The
        headings in this Agreement are for reference purposes only and shall not
        in any
        way affect the meaning or interpretation of this Agreement.

       

      IN
        WITNESS WHEREOF, the parties have executed this Agreement on the
        Effective Date, after approval of this Agreement by the Compensation Committee
        and the Board of Directors of the Company, with effect as of the Effective
        Date.

       

      THE
        DIRECTV GROUP, INC.

       

      

       

      By:
        /s/ Charles R.
        Lee                                                                

      Name:  Charles
        R. Lee

      Title:  Chairman
        of the Compensation Committee

       

       

      /s/
        Chase Carey

       

      Chase
        Carey

       

      Exhibit
        A

      

      

      DEFINITIONS

      

      

      “Cause”
        shall mean: (i) Executive’s willful and continued failure to perform his
        material duties with respect to the Company as provided hereunder (other
        than
        due to Disability); (ii) the commission of any fraud, misappropriation or
        misconduct by Executive that causes demonstrable material injury, monetarily
        or
        otherwise, to the Company or any affiliate; (iii) Executive’s conviction of, or
        plea of guilty or nolo contendere to, a felony; (iv) the failure by
        Executive to comply, in any material respect, with any applicable restrictive
        covenants; or (v) the failure by Executive to comply with any other undertaking
        set forth in his employment agreement or any other agreement Executive has
        with
        the Company or any affiliate or any breach by Executive thereof, if such
        failure
        or breach is reasonably likely to result in a demonstrable material injury
        to
        the Company or any affiliate, in each case, that is not cured, to the extent
        curable, within 30 days of written notice from the Company
        or otherwise satisfactorily explained.

      

      The
        cessation of employment of Executive shall not be deemed to be for Cause
        unless
        and until there shall have been delivered to Executive a copy of a resolution
        duly adopted by the affirmative vote of seventy-five percent (75%) of the
        entire
        membership of the Board (excluding, however, Executive, to the extent he
        is a
        member of the Board at such time) at a meeting of the
        Board called and held for such purpose (after reasonable notice is provided
        to
        Executive and Executive is given an opportunity, together with counsel, to
        be
        heard before the Board) finding that, in the good faith opinion of the Board,
        Cause exists and specifying the particulars thereof in detail.

      

      

      “Disability”
        shall mean Executive’s inability to perform all of his material duties under the
        Agreement for more than 180 days in any 360 day period as a result of physical
        or mental incapacity or illness which is reasonably likely to continue
        indefinitely.  Any question as to the existence of the Disability of
        Executive as to which Executive and the Company cannot agree shall be determined
        in writing by a qualified independent physician mutually acceptable to Executive
        and the Company.  If Executive and the Company cannot agree as to a
        qualified independent physician, each shall appoint such a physician and
        those
        two physicians shall select a third who shall make such determination in
        writing.  The determination of Disability made in writing to Executive
        and the Company shall be final and conclusive for all purposes of the
        Agreement.

      

      

      “Effective
        Termination” shall mean the occurrence of any of the following,
        without Executive’s consent: (i) Executive is required to report to any person
        or group, other than the Board or the Board is not the Board of Directors
        of a
        public company; (ii) a reduction in Executive’s base salary or bonus
        opportunity; (iii) the assignment to Executive by the Company of duties
        inconsistent with, or the significant reduction of the titles, powers, duties
        and functions associated with his positions, titles or offices; or (iv) the
        relocation of Executive’s principal office to a location more than 50 miles from
        the New York City or Los Angeles metropolitan area; provided, that any
        of the events described in clauses (i) – (iv) above shall constitute an
        Effective Termination only if the Company fails to cure such event within
        30
        days after receipt from Executive of written notice of the event which
        constitutes an Effective Termination; and provided further, that
        Executive shall cease to have a right to terminate due to Effective Termination
        on the 60th day
        following the later of the occurrence of the event or Executive’s knowledge
        thereof, unless he ha

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