Document:

Distribution Agreement

 Exhibit 10.15 
 DISTRIBUTION AGREEMENT dated as of July 26, 2007, between SIRIUS SATELLITE RADIO INC., a Delaware corporation (“Sirius”),
and INFO-HOLD, INC., a Delaware corporation (“Company”). 
 WHEREAS, Sirius operates a satellite radio service which provides audio
entertainment programming in the continental United States (the “Sirius Service”); and 
 WHEREAS, Company desires to acquire
Commercial Programming Packages (as defined below) from Sirius and resell Commercial Programming Packages to Commercial Accounts (as defined below), subject to the terms and conditions of this Agreement (as defined below); 
 NOW, THEREFORE, the parties hereto hereby agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 SECTION 1.01. Defined Terms. Capitalized terms used herein and not otherwise defined herein have the meaning assigned to such terms below: 
 “Agreement” means this Distribution Agreement, as amended, supplemented or otherwise modified from time to time in accordance with the
terms hereof. 
 “Activation” has the meaning set forth in Section 5.02(a).  
 “Activation Fee” has the meaning specified in Section 3.01. 
 “Annual Fee” has the meaning specified in Section 3.03(a).  
 “Annual Subscription” has the meaning specified in Section 2.02(b). 
 “Approved Manufacturers” means such manufacturers as Sirius may authorize from time to time in writing. 
 “Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to close. 
 “Cancellation Fee” has the meaning specified in Section 3.03(b). 
 “Chipset” means a Sirius-approved set of integrated circuits capable of receiving, decoding, decompressing and outputting one channel at
a time of the Sirius Service. 
 “Commercial Account” means a commercial establishment, which will utilize the Sirius
Service as background or foreground music. 
 “Commercial Programming Packages” means, collectively, Restricted Commercial
Programming Packages and Standard Commercial Programming Packages. 
  

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 “Company” has the meaning specified in the introductory paragraph hereto. 

 “Defaulting Party” has the meaning specified in Section 7.03.  
 “Disclosing Party” has the meaning specified in Section 8.01. 
 “Equipment” means Sirius Receivers, antennas and related products for use with the Sirius Service, all as Sirius designates from time to
time in writing. 
 “ESN” means a unique electronic serial number of a Sirius Receiver. 
 “Information” has the meaning specified in Section 8.01. 
 “Losses” has the meaning specified in Section 10.01(a). 
 “Monthly Fee” has the meaning specified in Section 3.02. 
 “Monthly Subscription” has the meaning specified in Section 2.02(b). 
 “Monthly Report” has the meaning specified in Section 3.08(a). 
 “Policies” has the meaning specified in Section 5.06. 
 “Pre-Termination Account” has the meaning specified in Section 7.04(b). 
 “Receiving Party” has the meaning specified in Section 8.01. 
 “Restricted Commercial Programming Package” means only those music channels on the Sirius Service programmed and produced by Sirius,
excluding channels that are likely to contain objectionable contents or lyrics, as determined by Sirius, in its sole discretion. 
 “Sirius” has the meaning specified in the introductory paragraph hereto. 
 “Sirius Marks” has the
meaning specified in Section 8.02. 
 “Sirius Receiver” means a portable or stereo component reception device, with a
single or, multiple Chipsets. 
 “Sirius Service” has the meaning specified in the first recital paragraph hereto.

 “Standard Commercial Programming Package” means only those music channels on the Sirius Service programmed and produced
by Sirius. 
 “Subscription” means a subscription to the Sirius Service entitling a single Chipset to receive a Commercial
Programming Package. 
 “Term” has the meaning specified in Section 6.01. 
  

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 “Termination Date” has the meaning specified in Section 7.04(a). 
 SECTION 1.02. Other Definitional Matters. Definitions in this Agreement apply equally to the singular and plural forms of the defined terms. The
words “include” and “including” shall be deemed to be followed by the phrase “without limitation” when such phrase does not otherwise appear. The terms “herein,” “hereof and “hereunder” and
other words of similar import refer to this Agreement as a whole and not to any particular article, section, paragraph or subdivision. All article, section, paragraph, clause, exhibit or schedule references not attributed to a particular document
shall be references to such parts of this Agreement. 
 ARTICLE II 
 APPOINTMENT; NON-EXCLUSIVITY 
 SECTION 2.01. Appointment. Subject to the terms
and conditions hereof, Sirius hereby designates Company as an authorized reseller of the Sirius Service and licenses Company to: (a) resell Subscriptions and (b) distribute Equipment, in each case only to Commercial Accounts located in the
continental United States. Company hereby accepts such appointment and shall use commercially reasonable efforts to resell Subscriptions and distribute Equipment in accordance with the terms and conditions hereof. 
 SECTION 2.02. Sale of Subscriptions. (a) Company shall resell Subscriptions only to Commercial Accounts. Company may sell both Standard Commercial
Programming Packages and Restricted Commercial Programming Packages. 
 (b) Company shall sell to Commercial Accounts only monthly
Subscriptions (each, a “Monthly Subscription”) and annual Subscriptions either 12 or 24 months in length (each, an “Annual Subscription”). 
 (c) Company acknowledges and agrees that each Subscription is to be offered solely for the purpose of enabling the Commercial Account to publicly perform one channel of the Sirius Service at a time. Company shall
require each Commercial Account to maintain a separate Subscription for each unit of a multi-unit facility, such as hotels, hospital and apartment buildings. Company shall not distribute or install any Equipment that enables multiple Sirius
Receivers or multiple Subscriptions to be combined into a multi-channel service offering, whether to Commercial Accounts directly or by Commercial Accounts to their customers, guests or invitees. 
 SECTION 2.03. Non-Exclusive Relationship. Sirius may sell Subscriptions to Commercial Accounts and other parties, either directly, indirectly, or
in conjunction with any reseller or other third party, and may authorize parties other than Company to sell Subscriptions to Commercial Accounts, upon such terms as Sirius may determine in its sole discretion. Such terms may differ materially from
those provided to Company in this Agreement. Company acknowledges that Sirius and such other parties may compete with Company in the sale of Subscriptions to Commercial Accounts. 
  

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 ARTICLE III 
 FEES, SALE PRICE; ROYALTIES; REPORTS 
 SECTION 3.01. Activation Fees. Company shall pay Sirius a
one-time activation fee (the “Activation Fee”) of $15 for each Subscription Company purchases from Sirius. Sirius shall have the right to change the amount of the Activation Fee at any time upon 30 days prior written notice to Company.

 SECTION 3.02. Fees for Monthly Subscriptions. Company shall pay Sirius a monthly fee (the “Monthly Fee”) of $12.95 for
the first Monthly Subscription on each Commercial Account at a single physical location and $6.99 for each subsequent Monthly Subscription on such Commercial Account at the same physical location. Sirius shall have the right to change the Monthly
Fee at any time, upon 30 days prior written notice to Company. For any Monthly Subscription activated on a day other than the first day of a month or terminated other than on the last day of a month, Sirius will pro-rate the Monthly Fee for the
initial or final month, as applicable. 
 SECTION 3.03. Fees for Annual Subscriptions. (a) Company shall pay Sirius an annual fee
(the “Annual Fee”) of: (i) $142.45 for the first 12-month Annual Subscription on each Commercial Account at a single physical location and $83.88 for each subsequent Monthly Subscription on such Commercial Account at the same physical
location and: (ii) $271.95 for the first 24-month Annual Subscription on each Commercial Account at a single physical location and $167.76 for each subsequent Monthly Subscription on such Commercial Account at the same physical location. Sirius
shall have the right to change the Annual Fees at any time, upon 30 days prior written notice to Company. 
 (b) Company shall pay Sirius a
one-time cancellation fee (the “Cancellation Fee”) of $75 for each Annual Subscription that Company cancels before the expected term thereof has expired. Upon receiving payment of the Cancellation Fee, Sirius shall credit Company a
pro-rata portion of the cancelled Annual Subscription, corresponding to the amount of time remaining in the expected term of the Annual Subscription. 
 SECTION 3.04. Payment Terms. (a) Sirius shall invoice Company monthly in arrears for: (i) the Activation Fee for each Subscription sold by Company during such month, (ii) Monthly Fees for all
Monthly Subscriptions that have been active during such month; (iii) the full Annual Fee for each Annual Subscription sold by Company during such month and (iv) the full Cancellation Fee for each Annual Subscription cancelled by Company
during such month. 
 (b) Company shall pay Sirius the amount of each invoice within ten days of the invoice date. Any amounts due to Sirius
from Company that are not paid when due will accrue interest at the lesser of: (i) 1.5% per month or (ii) the highest amount permitted by applicable law. Sirius will invoice Company for such interest on the subsequent invoice.

 SECTION 3.05. Sale Price. Company shall determine the price at which it sells Subscriptions to Commercial Accounts; provided
that Company shall not sell any: (a) Monthly Subscription for a price (i) lower than $12.95 per month for the first Monthly Subscription on a Commercial Account at a single physical location and $9.95 for each subsequent Monthly
Subscription on such Commercial Account at the same physical location or (ii) greater than $29.95 per month (or such greater amount as Sirius may designate from time to time upon 30 days prior written notice to Company); or (b) 

  

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Annual Subscription for a price (i) lower than $155.40 for the first 12-month Annual Subscription on a Commercial Account at a single physical location
and $119.40 for each subsequent 12-month Annual Subscription on such Commercial Account at the same physical location or greater than $359.40 per 12-month period (or such greater amount as Sirius may designate from time to time upon 30 days prior
written notice to Company) or (ii) lower than $310.80 for the first 24-month Annual Subscription on a Commercial Account at a single physical location and $238.80 for each subsequent 24-month Annual Subscription on such Commercial Account at
the same physical location or greater than $718.80 per 24-month period (or such greater amount as Sirius may designate from time to time upon 30 days prior written notice to Company). In the event that Sirius raises the Monthly Fee or the Annual Fee
pursuant to Sections 3.02 or 3.03(a), the maximum sale prices for Monthly Subscriptions and/or Annual Subscriptions set forth in this Section 3.05 shall be increased by the amount of such increase in Monthly Fee or Annual Fee, as applicable.

 SECTION 3.06. Taxes. Company shall issue to Sirius a blanket resale certificate for the purchase of the Sirius Service. Company
shall be solely responsible for collecting and remitting all applicable taxes resulting from its resale of the Sirius Service. 
 SECTION
3.07. Licenses. (a) Company shall: (i) maintain, at its own expense, all applicable blanket licenses covering the public performance of musical works by means of the Sirius Service by Company and all Commercial Accounts and
(ii) timely pay all amounts due pursuant to such blanket licenses. Company shall provide Sirius with copies of such blanket licenses and proof of payment, as Sirius requests from time to time. 
 (b) Sirius shall: (i) maintain a blanket license covering the public performance of sound recordings by means of the Sirius Service and
(ii) timely pay all amounts due pursuant to such blanket license. 
 SECTION 3.08. Reports. (a) Within five days after the
last day of each calendar month, Company shall deliver to Sirius (in hard copy and in mutually agreeable electronic format) a report (the “Monthly Report”), certified by an officer of Company, identifying by ESN each Subscription that was
activated, de-activated or ongoing during such month. 
 (b) Company shall segregate each Monthly Report by: (i) Monthly Subscriptions
and (ii) Annual Subscriptions. 
 SECTION 3.09. Account Numbers. Company shall ensure that each physical location with a
Commercial Account has a unique account number. In no event shall one account number be associated with multiple physical locations. 
 SECTION 3.10. Audit Rights. (a) During the Term and for a period of three years thereafter, Company shall provide Sirius, its accountants and other authorized representatives with reasonable access, during normal business hours,
to Company’s records (and permit Sirius and its accountants and authorized representatives to make copies thereof) for the purpose of auditing any information or data in any certificate or report required to be delivered to Sirius pursuant to
this Agreement. In the event that any such audit reveals that Company had underpaid Sirius with respect to any applicable period, Company shall pay Sirius the amount of such deficiency, plus interest thereon for the period from the date any
applicable amount was do to the date payment is actually made computed at the prime rate of interest then offered by J.P. Morgan Chase & Co. plus two percent. 
  

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 ARTICLE IV 
 EQUIPMENT AND INSTALLATION BUSINESS 
 SECTION 4.01. Equipment. Company shall be responsible for
acquiring all Equipment to be sold, leased or otherwise provided to Company’s Commercial Accounts. Company shall only acquire Equipment produced by Approved Manufacturers, directly from the applicable Approved Manufacturer, or another vendor
approved by Sirius in writing. Equipment purchases by Company for re-sale to Commercial Accounts shall not be eligible for any end-user promotional or incentive campaign provided by Sirius or a third party to an Approved Manufacturer, a retailer, a
distributor or another party, unless specifically approved by Sirius in writing. Company shall not acquire or distribute any Sirius Receiver designed for mobile electronics use (as opposed to home or portable use). 
 SECTION 4.02. Installation. Company shall be responsible for installation of all Equipment it sells to Commercial Accounts. 
 SECTION 4.03. Disclaimer. Subject to this Article IV, Company shall conduct its sale, lease, installation, warranty, maintenance, and repair
business transactions and activities relating to Equipment for its own account. Sirius disclaims any control of or responsibility for such Equipment business. 
 ARTICLE V 
 TERMS OF SERVICE 
 SECTION 5.01. Terms of Service. (a) Sirius shall determine the content of the Sirius Service, Commercial Programming Packages and the Commercial Service Terms & Conditions in its sole discretion.

 (b) Company shall not alter the delivery or content of the Sirius Service or any Commercial Programming Package in any way, including use
of store-casting or other in-store messaging. 
 (c) Company shall enter into a written subscription agreement with each Commercial Account,
in a form approved by Sirius in writing. 
 SECTION 5.02. Activations. (a) Company shall activate all Subscription (each, an
“Activation”) in accordance with the procedures set forth on Exhibit A, as changed by Sirius from time to time, in its sole discretion. 
 (b) Together with each Activation, Company shall provide Sirius with: (i) the name, address, phone number and contact name of the applicable Commercial Account, (ii) whether the Activation is for a Standard Commercial Programming
Package or a Restricted Commercial Programming Package, (iii) the type of business of such Commercial Account, (iv) the nature of use of the Subscription, (v) the ESN of the Sirius Receiver provided to that Commercial Account and
(vi) any other information reasonably requested by Sirius. 
 (c) Notwithstanding the provisions of Sections 5.03 and 5.04, Sirius
reserves the right to use the information provided pursuant to Section 5.02(b) to contact any Commercial Account; provided that Sirius will not contact Commercial Accounts for the purpose of converting such accounts to direct subscribers
to Sirius. 
  

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 SECTION 5.03. Customer Service. Company shall provide all customer service to Commercial Accounts.

 SECTION 5.04. Communications. Company shall promptly inform each Commercial Account regarding any changes to the Sirius Service of
which Sirius notifies Company, including content, format and channel positioning. Company shall obtain Sirius’ prior written approval with respect to those portions of Company communications which relate to Subscriptions and/or the Sirius
Service. 
 SECTION 5.05. Advertising. Company shall obtain Sirius’ prior written approval of any advertising materials used by
Company that refer to Sirius or the Sirius Service, and are not supplied by Sirius. No approval shall limit Company’s obligation to comply with applicable law or be deemed an endorsement of any advertising content except as it relates to Sirius
or the Sirius Service. 
 SECTION 5.06. Standard Policies. Company shall comply with such standard policies and procedures as Sirius
may establish for its resellers, as the same may be amended from time to time (collectively, the “Policies”). The Policies shall be an integral part of this Agreement but shall not impair Company’s rights granted herein. 

ARTICLE VI 
 TERM 
 SECTION 6.01. Term. The term of this Agreement shall commence on the date first written above and continue for three years. 
 ARTICLE VII 
 TERMINATION 
 SECTION 7.01. Termination for Convenience. Either party may terminate this Agreement, for any reason or for no reason, upon not less than 45 days
prior written notice to the other party delivered in accordance with Section 11.01 stating such party’s intention to terminate this Agreement. 
 SECTION 7.02. Special Termination Event. Sirius may terminate this Agreement immediately upon notice to Company in the event that any change in law or regulation prevents or significantly impedes the operation
of the Sirius Service, or materially and adversely affects Sirius’ ability to conduct its business as previously conducted, in each case as reasonably determined by Sirius. 
 SECTION 7.03. Termination for Breach. Either Sirius or Company may terminate this Agreement in the event that the other party (the
“Defaulting Party”) breaches or fails to perform any covenant or obligation contained in this Agreement, or any representation or warranty made by the Defaulting Party under this Agreement ceases to be true and correct in all material
respects and such breach, failure or cessation continues uncured for a period of 15 days after the Defaulting Party 

  

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receives notice thereof from the non-Defaulting Party or, if the same cannot be cured within such 15 day period, the Defaulting Party fails within such
period to commence action reasonably likely to cure such breach, failure or cessation or thereafter fails to diligently pursue such action or in any event does not in fact cure such breach, failure or cessation within 30 days of receiving notice
thereof. 
 SECTION 7.04. Effect of Termination. (a) From and after the effective date of the expiration or earlier termination
of this Agreement (the “Termination Date”), Company shall immediately: (i) cease sales of Subscriptions, (ii) cease holding itself out as affiliated with Sirius or the Sirius Service in any way and (iii) discontinue use of
the Sirius Marks and all Sirius-related sales and marketing materials and other tangible information and materials. 
 (b) Notwithstanding the
provisions of Section 7.05(a), unless Sirius terminates this Agreement pursuant to Section 7.03, Company shall have the right to purchase from Sirius, and resell to Commercial Accounts, Subscriptions for which Company submitted an
Activation to Sirius prior to the Termination Date (each, a “Pre-Termination Account”). So long as Company continues to service such Pre-Termination Accounts at the levels provided during the Term, but in no event less than a level of
service appropriate for a nationally distributed, high quality consumer service, the provisions of Articles II, III, V and VII shall survive the expiration or earlier termination of this Agreement, with respect to Pre-Termination Accounts only. In
the event Company at any time ceases to service Pre-Termination Accounts at such level, Sirius shall have the right, but not the obligation, upon reasonable notice to Company, to take over ownership and servicing of such Pre-Termination Accounts.

 ARTICLE VIII 
 CONFIDENTIALITY;
USE OF TRADEMARKS 
 SECTION 8.01. Confidential Information. All information (“Information”) furnished or disclosed by
Sirius or Company (“Disclosing Party”) to the other party (“Receiving Party”) is Disclosing Party’s property and shall be returned (along with all copies and other reproductions thereof) to Disclosing Party promptly upon
request. Unless such Information: (a) was previously known to Receiving Party free of any obligation to keep it confidential, (b) has been or is subsequently made public by Disclosing Party or a third party under no obligation of
confidentiality, or (c) is independently developed by Receiving Party without reference to Information, then Receiving Party shall, for a period ending three years after the end of the Term, use the same degree of care, but no less than a
reasonable standard of care, as Receiving Party uses with regard to its own proprietary information to prevent disclosure, use or publication thereof. Receiving Party shall use Information furnished hereunder solely for performance of obligations
under this Agreement. 
 SECTION 8.02. Sirius Marks. Sirius shall provide Company with guidelines, which Sirius may amend from time to
time in its sole discretion, for the use of Sirius’ name, logo and trademarks (collectively, the “Sirius Marks”). Company shall use the Sirius Marks only in accordance with such guidelines and only in connection with its performance
relating hereto. Company shall obtain Sirius’ prior written approval of all uses of the Sirius Marks. Except as expressly provided herein, nothing in this Agreement or any course of dealing in connection herewith shall grant or imply to Company
any license or other right to use the Sirius Marks or any name, logo or trademark that is confusingly similar to any of the Sirius Marks. 
  

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 SECTION 8.03. Survival. The terms of this Article VIII shall survive the expiration or earlier
termination of this Agreement. 
 ARTICLE IX 
 REPRESENTATIONS AND WARRANTIES 
 SECTION 9.01. Representations and Warranties of the Parties. Each
party hereby represents and warrants to the other party that: (a) it has the power and authority to execute, deliver and perform its obligations under this Agreement, (b) its execution, delivery and performance of this Agreement does not
and will not result in any breach or contravention of, any contractual obligation to which it is a party or any order, injunction, writ or decree of any governmental authority to which it or its property is subject and (c) that this Agreement
constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’
rights generally or by equitable principles relating to enforceability. 
 SECTION 9.02. Company’s Representations and
Warranties. Company hereby represents and warrants to Sirius that it will: (a) at all times hold itself in a commercially reputable and ethical manner and comply with all applicable laws and (b) not engage in any deceptive sales
practice or other practice that may negatively impact Sirius’ commercial reputation and goodwill. 
 SECTION 9.03. Disclaimer of
Representations and Warranties. SIRIUS DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO EQUIPMENT, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. SIRIUS DOES NOT MAKE ANY
REPRESENTATIONS OR WARRANTIES THAT TRANSMISSIONS OF THE SIRIUS SERVICE WILL BE UNINTERRUPTED OR ERROR-FREE. SIRIUS’ SOLE LIABILITY AND COMPANY’S SOLE REMEDY IN THE EVENT OF ANY FAILURE IN THE OPERATION OF THE SIRIUS SERVICE SHALL BE FOR
SIRIUS TO USE COMMERCIALLY REASONABLE EFFORTS TO REMEDY SUCH FAILURE. SIRIUS DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT RESTRICTED COMMERCIAL PROGRAMMING PACKAGE WILL NOT CONTAIN OBJECTIONABLE CONTENT OR LYRICS. 
 ARTICLE X 
 INDEMNITY; LIMITATION ON LIABILITY;
INSURANCE 
 SECTION 10.01. Indemnity, (a) Subject to the limitations set forth in Section 10.02, Sirius shall defend,
indemnify and hold harmless Company, its affiliates and their respective employees, officers, and directors from and against any and all third party claims and resulting damages, costs, and other liabilities and expenses (including reasonable
attorneys fees and expenses) (collectively, “Losses”) arising out of Sirius’: (i) breach or alleged breach of any of its obligations, covenants, representations and warranties under this Agreement or (ii) negligence or other
wrongful conduct; provided that Sirius shall not be required to defend, indemnify or hold harmless Company with respect to (x) the content of any programming (including without limitation claims relating to trademark, copyright, music,
music performance and other proprietary interests) on the Sirius Service or (y) the construction, use or operation of Sirius’ satellites or the Sirius Service. 
  

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 (b) Company shall defend, indemnify and hold harmless Sirius, its affiliates and their respective
employees, officers, and directors from and against any and all Losses arising out of Company’s (i) breach or alleged breach of any of its obligations, covenants, representations and warranties under this Agreement or (ii) negligence
or other wrongful conduct. 
 (c) The terms of this Section 10.01 shall survive the expiration or earlier termination of this Agreement.

 SECTION 10.02. Limitation of Liability. (a) EXCEPT AS PROVIDED IN SECTION 10.01(b), NEITHER SIRIUS NOR COMPANY SHALL BE LIABLE
FOR ANY INDIRECT, SPECIAL, PUNITIVE, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF THE OTHER PARTY OR ANY THIRD PARTY, WHETHER FORESEEABLE OR NOT AND WHETHER BASED ON NEGLIGENCE OR OTHERWISE. 
 (b) NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, IN NO EVENT SHALL SIRIUS’ LIABILITY UNDER THIS AGREEMENT EXCEED THE AMOUNTS PAID TO SIRIUS BY
COMPANY PURSUANT TO THIS AGREEMENT WITH RESPECT TO THE PREVIOUS TWELVE-MONTH PERIOD. 
 (c) The terms of this Section 10.02 shall
survive the expiration or earlier termination of this Agreement. 
 SECTION 10.03. Insurance. Company shall maintain in force, at all
times during the Term, insurance policies issued by reputable carriers, covering such insurable risks and with such limits as are reasonably specified by Sirius from time to time. Company shall name Sirius as an additional insured and loss payee on
each insurance policy. Company shall ensure that each insurance policy contains an endorsement deleting the condition thereof entitled “Other Insurance” as to any insurance in force for or in the name of Sirius. Company shall ensure that
each insurance policy includes a provision requiring the issuer to give Sirius prompt notice of any revision or modification to any insurance policy affecting Sirius’ rights or any cancellation of any such insurance policy. 
 ARTICLE XII 
 MISCELLANEOUS 
 SECTION 11.01. Notices. Except as otherwise set forth herein, all notices and other communications hereunder shall be in writing, shall be deemed
given when delivered personally or when telecopied (with confirmation of the transmission received by the sender), one Business Day after being delivered to a nationally recognized overnight courier (with next day delivery specified) or three
Business Days after sending by certified or registered U.S. mail, return receipt requested, with first class postage prepaid, to the parties at the addresses set forth below (or at such other address for a party as shall be specified by like
notice). Notices sent by e-mail or any other electronic means not expressly permitted hereunder shall not be effective for any purposes of this Agreement. 
  

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	 if to Sirius, to:
	  	if to Company, to:
	 Sirius Satellite Radio Inc.
	  	 Info-Hold, Inc.

	 1221 Avenue of the Americas, 36th Floor
	  	 4120 Airport Road

	 New York, New York 10020
	  	 Cincinnati, OH 45226

	 Facsimile No.: (212) 584-5353
	  	 Facsimile No.: 513-248-5702

	 Attention: General Counsel
	  	 Attention: Kevin L. McCullough,

		  	 Vice President

		
	 with a copy to:
	  	
	 Sirius Satellite Radio Inc.
	  	
	 1221 Avenue of the Americas, 36th Floor
	  	
	 New York, New York 10020
	  	
	 Facsimile No.: (646) 343-2411
	  	
	 Attention: Sales Operations
	  	

 SECTION 11.02. Independent Contractors. Company is an independent contractor authorized
during the Term to sell Subscriptions to Commercial Accounts. Company is not a partner, franchisee, or employee of Sirius for any purpose whatsoever. Company shall pay all of its costs and expenses under this Agreement and shall be solely
responsible for the acts and expenses of its own agents, consultants, representatives and employees. 
 SECTION 11.03. No Third Party
Beneficiaries. None of the provisions of this Agreement shall create any third party beneficiary rights in any Commercial Account or other third party not a party to this Agreement. The provisions of this Agreement are solely for the benefit of
Sirius and Company, and neither Sirius nor Company intends to benefit any third party or give any third party any right or benefit under or any right to enforce any provisions of this Agreement. 
 SECTION 11.04. Governing Law; Consent to Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the laws of the
State of New York, regardless of principles of conflicts of laws that may require the application of the laws of another jurisdiction. Any action or litigation concerning this Agreement shall take place exclusively in the federal or state courts
sitting in New York, New York, and the parties expressly consent to the jurisdiction of and venue in such courts and waive all defenses of lack of jurisdiction and inconvenient forum with respect to such courts. Company hereby agrees to service of
process by mail or other method acceptable under the laws of the State of New York. 
 SECTION 11.05. Force Majeure. Neither Sirius
nor Company shall be liable for any loss, damage, cost, delay, or failure to perform in whole or in part resulting from causes beyond such party’s reasonable control, including fires, strikes, insurrections, riots or requirements of any
governmental authority. 
 SECTION 11.06. No Waiver. No failure or delay on the part of any party hereto in exercising any right,
power or privilege hereunder and no course of dealing between or among the parties hereto shall operate as a waiver of any right, power or privilege hereunder. No single or partial exercise of any right, power or privilege hereunder shall preclude
any other or further exercise thereof or the exercise of any other right, power or privilege hereunder. No notice to or demand on any party in any case shall entitle such party to any other or further notice or demand in similar or other
circumstances or constitute a waiver of the rights of any party to any other or further action in any circumstances without notice or demand. 
  

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 SECTION 11.07. Entire Agreement. This Agreement constitutes the entire agreement and supersedes
all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. 
 SECTION
11.08. Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law or public policy, all other terms, conditions and provisions of this Agreement shall nevertheless
remain in full force and effect. 
 SECTION 11.09. Amendment. Except as otherwise provided herein, neither this Agreement nor any of
the terms hereof may be amended, supplemented, waived or modified except by an instrument in writing signed by the party against which the enforcement of such amendment, supplement, waiver or modification shall be sought. 
 SECTION 11.10. Assignment. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by Company without
the prior written consent of Sirius, and any purported assignment without such consent shall be null and void. This Agreement shall be binding upon and inure to the benefit of the parties and their permitted successors and assigns. 
 SECTION 11.11. Counterparts; Delivery. This Agreement may be executed in counterparts, each of which shall be considered one and the same
agreement, and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties. Delivery of a counterpart by facsimile shall be as effective as physical delivery of an originally
executed copy hereof. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above. 

 

							
	SIRIUS SATELLITE RADIO INC.	 	INFO-HOLD, INC.
				
	By:	 	 /s/ Robert F. Law
	 	By:	 	 /s/ Joey C. Hazenfield

		 	Robert F. Law	 		 	 Joey C. Hazenfield 

		 	Senior Vice President and General Manager,	 		 	 President/CEO

		 	Consumer Electronics Division	 		 	

  

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 EXHIBIT A 
 Activating a New Commercial Account 
 The Commercial Account will email salessupport@sirius-radio.com the following
activation request once reception on Channel 184 is verified and the unit is installed in the place of business. 
 Company
Contact 
 Company Name 
 Address 
 Phone Number 
 Email Address 
 Personal Identification 
 Industry 
 ESN 
 Subscription Type 
 Once account has been created sales support will confirm activation with a reply email to Commercial Account.Transition Agreement and Release

 Exhibit 10.1 
 TRANSITION AGREEMENT AND RELEASE 
 This Transition Agreement and Release
(“Agreement”) is made and entered into by and between Robert L. Bailey for himself or his heirs, successors and assigns (hereinafter “Bailey”) and PMC-Sierra, Inc. (hereinafter referred to as the “Company”)
(collectively, the “Parties”), with reference to the following facts: 
 WHEREAS 
 A. The Board of Directors of the Company (the “Board”) has been having discussions with Bailey regarding eventual transition to a successor for
Bailey in the position of President and Chief Executive Officer of the Company (“CEO”). 
 B. The Board and Bailey have determined
that it is in the best interests of the Company to have the arrangements for Bailey’s eventual transition and separation agreed in advance of Bailey’s future decision and announcement of an intention to resign from the Company. 

C. Once Bailey has made a decision and announced his intention to resign, he will continue as the CEO, with all of his current duties and
responsibilities until the Company hires a new Chief Executive Officer and his resignation as CEO is effective (the “Resignation Date”). 
 D. After his decision and announcement to resign, Bailey will continue to serve on the Company’s Board of Directors and as Board Chairman through his then-current term and until his successor has been elected and qualified. Bailey may
be re-nominated for additional term(s) as a Director if the Board and Bailey so agree. 
 E. The Parties desire to facilitate a smooth
transition. 
 NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the Parties hereto agree as follows:

 1. Payments and Benefits Due to Bailey. In consideration for this Agreement and any Supplemental Release attached as Exhibit
C, the Company shall provide the following: 
 (a) While serving as CEO, Bailey’s base salary will continue at an annual rate of
$500,000, less applicable withholdings, payable in accordance with the Company’s regular payroll practices. Furthermore, for any partial quarter in which Bailey holds the CEO title, he will be paid his base salary for the full quarter. Subject
to the deferral provisions below, the salary payments will be made on a bi-weekly or semi-monthly basis in accordance with the payment schedule in effect for Bailey’s base salary on the Resignation Date. 
 (b) Bailey will continue to be paid semi-annual bonuses pursuant to the Company’s Short Term Incentive Plan (“STIP”). For any six-month
period ended June 30 or December 31 in which Bailey holds the CEO title, he will be paid his full STIP award for that six-month period to the extent the required performance goals for such quarter have been satisfied. Any such semi-annual
bonus 

  

 Initials:   RLB      JJJ  

 
will be paid within thirty (30) days following the end of the applicable six-month period but in no event later than March 15 of the year following
the year in which the Resignation Date occurs. 
 (c) For as long as Bailey is an employee and/or a Director, Bailey will continue to receive
all health and welfare benefit coverage to which he is currently entitled for himself and his dependents which the Company provides to its employees and which may be adopted by the Company for employees/executives generally, including (without
limitation) extended health and dental insurance, life and disability insurance, participation in the Company’s 401(k) plan, and tax preparation services after completion and filing of Bailey’s federal income tax return for 2007;
provided however, at the time Bailey ceases to be an employee, he will no longer be eligible to participate in the Company’s 401(k) plan and his vacation balance will be deemed to be zero so that a negative balance shall be forgiven and no
payout will be required. For as long as Bailey is an employee and/or a Director, cost for health and welfare benefit coverage for Bailey and his dependents will be proportionately shared by the Company and Bailey at the then-current contribution
levels. Notwithstanding the above, Bailey will pay the full premiums for his health and welfare benefit coverage for the first six months following his Separation from Service (the “Reimbursement Period”). If in the seventh month following
his Separation from Service Bailey is still serving as a Director of the Company, the Company will reimburse Bailey for the Company’s portion of the amount of the premiums paid by him during the Reimbursement Period and pay the premiums for
month seven and the following months in which Bailey continues to serve as Director with Bailey contributing at the then-current employee contribution level. Bailey will submit appropriate evidence of each such reimbursable expense within thirty
(30) days following the end of the Reimbursement Period and the Company will reimburse Bailey within thirty (30) days following such submission. 
 (d) After Bailey is no longer either an employee or a Director of the Company (the “Separation Date”), Bailey and his dependents will continue to receive, at Bailey’s expense, health and welfare benefit
coverage equivalent to the coverage which the Company provides to its employees for a period (i) beginning on the Separation Date that is equal to Bailey’s term of service as an employee (rounded up to a full year or as required by the
Company’s policies) or (ii) beginning on the Separation Date and ending upon Bailey’s and his dependents being accepted for coverage under comparable plans through another employer, whichever period is shorter but not beyond such time
that Bailey becomes eligible for Medicare coverage. 
 (e) The Amended and Restated Executive Employment Agreement between Bailey and the
Company (the “Change of Control Agreement”) will remain in place and Bailey will be entitled to benefits under that agreement in accordance with its terms in the event of a Change of Control of the Company (as defined in the Change of
Control Agreement) announced during the time Bailey continues to serve as CEO. Any such benefits will require a further release signed in the form attached to the Change of Control Agreement as an exhibit. 
 (f) For as long as Bailey is an employee and/or a Director of the Company, Bailey’s options shall continue to vest and be exercisable. 
  

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 (g) At such time that Bailey is no longer either an employee or a Director of the Company, and provided
Bailey signs the Supplemental Release, a copy of which is attached hereto as Exhibit A, Bailey shall receive: (i) acceleration of vesting by two years of outstanding unvested options and (ii) the right to exercise all of his outstanding
options for 12 months following the Separation Date or the remaining term of the option, whichever is shorter. The benefits in this subsection (g) are limited to option grants existing as of September 30, 2007; any subsequent grants that may be
made as a result of ongoing service to the Company are specifically excluded from this Agreement. The Company hereby represents and warrants that, upon approval of this Agreement by the Board of Directors of the Company, no further approvals of the
Board of Directors of the Company or any committee of the Board of Directors shall be required to effect such acceleration and extension of the post-termination exercise period of such options. 
 (h) Bailey acknowledges that, except as expressly provided for in this Agreement, the Change of Control Agreement or the Indemnification Agreement between
Bailey and the Company dated February 26, 1999 (the “Indemnification Agreement”), no other amounts are due to Bailey. Bailey further acknowledges that he has obtained no advice from the Company and that neither the Company nor its
attorneys have made any representations regarding the tax consequences, if any, to him regarding the payments and benefits provided for in this Section 1. Bailey understands that the taxability of the payments and benefits provided in this
Section 1 shall be governed by applicable federal, state, and local tax laws and regulations, and that other than authorized withholdings and deductions during employment, Bailey shall be solely responsible for any taxes, interest and penalties
that he may owe with respect to such payments. 
 (i) Notwithstanding any provision to the contrary in this Agreement, no payments or benefits
to which Bailey becomes entitled under Section 1 of this Agreement shall be made or paid to him prior to the earlier of (i) the expiration of the 6-month period measured from the date of his Separation from Service or (ii) the
date of his death, if he is deemed at the time of such Separation from Service a “key employee” within the meaning of that term under Section 416(i) of the Internal Revenue Code (the “Code”) and such delayed commencement is
otherwise required in order to avoid a prohibited distribution under Code Section 409A(a)(2). Upon the expiration of the applicable Code Section 409A(a)(2) deferral period, all payments deferred pursuant to this Section 1(i) shall be
paid in a lump sum to Bailey, and any remaining payments due under this Agreement shall be paid in accordance with the normal payment dates specified for them herein. 
 (j) During the period Bailey is entitled to benefit coverage under Section 1, the following provisions shall govern the arrangement: (i) the amount of expenses eligible for reimbursement, or in-kind benefits
provided, during any one calendar year of such coverage shall not affect the amount of expenses eligible for reimbursement, or in-kind benefits to be provided, during any subsequent calendar year for which coverage is to be provided; (ii) any
reimbursement of the expenses covered hereunder will be made no later than the close of the calendar year following the calendar year in which those expenses are incurred; and (iii) the right to such reimbursement and continued benefit coverage
cannot be liquidated or exchanged for any other benefit. 
 (k) “Separation from Service” means the cessation of Bailey’s
status as an employee of the Company and shall be deemed to occur at such time as the level of the bona fide services he is to perform as an employee (or as a consultant or other independent contractor) permanently decreases to a level that is not
more than twenty percent (20%) of the average level of services he rendered in employee status during the immediately preceding thirty-six (36) months. Any such determination as to Separation from Service, however, shall be made in
accordance with the applicable standards of the Treasury Regulations issued under Section 409A of the Code. 
  

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 2. Release. Bailey hereby fully and forever releases and forever discharges the Company and
all of its parents, divisions, subsidiaries, affiliates, related entities, and their predecessors, successors, and past and present officers, directors, shareholders, employees, agents, partners, attorneys, benefit plans, insurers, and
representatives, (hereinafter “Releasees”) from any and all claims of whatever nature, except as noted below, whether known or unknown, which exist or may exist on Bailey’s behalf against Releasees as of the date of this Agreement,
including but not limited to any and all tort claims, contract claims, equitable claims, breach of fiduciary duty claims, ERISA claims, wrongful termination claims, public policy claims, retaliation claims, statutory claims, personal injury claims,
emotional distress claims, invasion of privacy claims, defamation claims, fraud claims, quantum meruit claims, and any and all claims arising under any federal, state or other governmental statute, law, regulation or ordinance covering
discrimination in employment, including but not limited to Title VII of the Civil Rights Act of 1964, as amended, the Americans with Disabilities Act, the Age Discrimination in Employment Act, the Washington State Law Against Discrimination and the
California Fair Employment and Housing Act, including race, color, religious creed, national origin, ancestry, physical or mental disability, medical condition, marital status, sex, age, harassment, or retaliation. Notwithstanding any provisions and
covenants in this Section 2, Bailey is not waiving any claim he may have against Releasees for: (i) unemployment, (ii) state disability and/or workers’ compensation insurance benefits, (iii) his vested rights upon
termination in certain of the Company’s group benefit plans pursuant to the federal law known as COBRA and the terms of the Company’s benefit plans, and (iv) any claim Bailey may have against Releasees for liability for taxes on
income earned by Bailey arising from (A) any final determination by a competent authority that Bailey has incorrectly or improperly reported and paid taxes due, or (B) any payment by Bailey in settlement of such tax liability (including,
in each case, all reasonable costs and expenses incurred by Bailey in connection with defending the assertion of such tax liability), provided that Bailey has relied in good faith on the documentation provided by the Company in structuring the
transaction or series of transactions that resulted in the income received, and that Bailey has reported and paid his personal tax obligations in good faith reliance on the Company’s documentation. Moreover, the Company will continue
to indemnify Bailey to the fullest extent permitted by Delaware law pursuant to the Company’s Bylaws for any claim arising from his status as an employee or Director to the Company, notwithstanding any change in Bailey’s relationship with
the Company. Furthermore, the Company acknowledges that the Indemnification Agreement will continue in effect in accordance with its terms, notwithstanding any change in Bailey’s relationship with the Company, and the Company will maintain
directors and officers liability insurance that will expressly cover Bailey for his acts or omissions while serving as a Director or officer of the Company, notwithstanding any change in Bailey’s relationship with the Company. 
 3. No Filing of Claims. Bailey represents and warrants that he does not presently have on file any claims, charges, grievances,
actions, appeals or complaints against Releasees in 

  

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or with any administrative, state, federal or governmental entity, agency, board or court, or before any other tribunal or arbitrator(s), public or private,
based upon any actions occurring prior to the date of this Agreement. Bailey further agrees and understands that, except as may be required by subpoena, court order, or other legal proceedings, he shall not, in any way, assist any individual or
entity in commencing or prosecuting any action or proceeding, including, but not limited to, any administrative agency claims, charges or complaints or any lawsuit against the Releasees, or in any way cooperate or participate in any such action or
proceeding, including trial, pretrial preparation, prelitigation fact-gathering or administrative agency proceeding connected with any and all matters. Bailey understands and agrees that, notwithstanding any provisions and covenants in this
Section 3, nothing in this Agreement is intended to constitute an unlawful release or waiver of any of his rights under any laws and/or to prevent, impede, or interfere with his ability and/or right to: (a) provide truthful testimony if
under subpoena to do so, and/or (b) participate in an investigation or proceeding conducted by the Equal Employment Opportunity Commission and/or any other governmental entity. 
 4. Waiver of Unknown Claims. It is further understood and agreed by the Parties that as a condition of this Agreement, except as noted in
Section 2 above, Bailey hereby expressly waives and relinquishes any and all claims, rights or benefits that he may have under California Civil Code Section 1542, which provides as follows: 
 “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the
release which if known by him or her must have materially affected his or her settlement with the debtor.” 
 In connection with such
waiver and relinquishment, Bailey hereby acknowledges that he or his attorneys may hereafter discover claims or facts in addition to, or different from, those which they now know or believe to exist, but that except as noted in Section 2 above,
he expressly agrees to fully, finally and forever settle and release any and all claims, known or unknown, suspected or unsuspected, which exist or may exist on his behalf against Releasees at the time of execution of this Agreement, including, but
not limited to, any and all claims relating to or arising from Bailey’s employment with the Company or his resignation from that employment. The Parties further acknowledge, understand and agree that this representation and commitment is
essential to each Party and that this Agreement would not have been entered into were it not for this representation and commitment. 
 5.
Non-Admission of Liability. It is expressly understood and agreed that nothing contained in this Agreement shall constitute or be treated as an admission of any wrongdoing or liability on the part of the Company or Bailey. 

6. Proprietary Information Agreement and Non-Compete. Bailey has been and will continue to be extensively involved in high-level
decisions related to the competitive design, development, marketing, positioning and sale of the Company’s products and services. Bailey acknowledges and agrees that such participation requires unlimited access to highly sensitive Proprietary
Information (as defined in the Invention Assignment Agreement dated November 15, 1993 (the “Confidentiality Agreement”)), including confidential information and trade secrets related to the development of the Company’s business
model, competitive strategies, product and/or services positioning, marketing, and other information that would be highly injurious if 

  

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divulged to or used by a Competitor (as defined in the second paragraph of this Section 6) of the Company. Bailey agrees to maintain the confidentiality
of the Company’s proprietary information and trade secrets and not to use the Company’s proprietary information or trade secrets other than for the Company’s benefit in accordance with the Confidentiality Agreement. 
 Bailey further agrees that until the later of one year after he ceases to be either an employee or Director of, or a consultant to, the Company
(whichever is later) he will not, as an employee, agent, consultant, advisor, independent contractor, general partner, officer, director, stockholder, investor or in any other capacity directly engage in work for, provide services or assistance to,
or own a more than 25% voting interest in any Competitor of the Company, provided that, after consultation with Bailey, the Company shall have determined that the proposed engagement conflicts with the interests of the Company.
“Competitor” means a business anywhere in the world which derives ten percent (10%) or more of its revenues from developing, manufacturing, marketing or selling any products which directly compete with the products manufactured,
marketed or sold by the Company or its subsidiaries as of the later of the Separation Date or the date a consulting agreement (if applicable) terminates. 
 Bailey further agrees that in the event of any breach of this Section 6, the Company will be entitled to seek equitable relief, including an injunction, because of the possibility that such a breach would cause
irreparable harm for which there is no adequate remedy at law. 
 7. Non-Solicitation. Until the later of one year after the
later of the Separation Date or the date a consulting agreement with the Company (if applicable) terminates, Bailey will not directly or indirectly induce, encourage, solicit, influence or attempt to influence any employee of the Company or its
subsidiaries to cease providing services for the Company or its subsidiaries for any reason, or to interview or employ any such individual. However, Bailey may interview or employ an individual if more than six months have elapsed since the
individual terminated his or her services to the Company or its subsidiaries, and during the three months before and the six months after the individual terminates his or her services Bailey did not communicate with the individual about employment
by another entity with which Bailey has any relationship. 
 8. Non-Disparagement. 
 (a) Bailey agrees that he shall not make any negative or disparaging statements or comments about the Company’s business, technologies, market
position, employment policies and practices, employees (past and present), operations, products or services, either as fact or opinion. 
 (b)
The Company agrees that it shall not make any negative or disparaging statements or comments about Bailey. 
  

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 9. Right to Revoke. 
 Bailey understands and agrees that he: 
 (a)
Has a full twenty-one (21) days after receipt of this Agreement within which to review and consider the Agreement; 
 (b) Is advised to
consult with an attorney whom he may freely choose prior to executing this Agreement; 
 (c) Has carefully read and fully understands the
provisions of this Agreement; 
 (d) Is, through and in accordance with the terms set forth in this Agreement, releasing Releasees from any
and all claims he has or may come to have against the Releasees; 
 (e) Is knowingly and voluntarily agreeing to all the terms set forth in
this Agreement; 
 (f) Has seven (7) days after the execution of this Agreement within which he may revoke this Agreement. In order to
revoke this Agreement, Bailey must deliver to Alinka Flaminia, General Counsel, at 3975 Freedom Circle, Suite 100, Santa Clara, CA 95054, a letter stating that he is revoking this Agreement no later than seven (7) days after he executes it;

 (g) That, because of this revocation period, this Agreement shall not become
effective or enforceable until the eighth (8th) day following the date Bailey executes this Agreement (the “Effective Date”);

 (h) Is not waiving any rights or claims under the Age Discrimination in Employment Act of 1967 (29 U.S.C. § 621 et seq.) that
may arise after the date this Agreement is executed; and 
 (i) Is, by reason of this Agreement, receiving from the Company good and
sufficient consideration in addition to anything of value to which he is already entitled. 
 10. Ownership of Claims. The
Parties represent and warrant that they are the sole and lawful owner of all rights, title and interest in and to all released matters, claims and demands referred to herein. The Parties further represent and warrant that there has been no
assignment or other transfer of any interest in any such matters, claims or demands that the Parties may have against one another. 
 11.
Governing Law. This Agreement, in all respects, shall be interpreted, enforced and governed by and under the laws of the State of Delaware. 
 12. Successors and Assigns. It is expressly understood and agreed by the Parties that this Agreement and all of its terms shall be binding upon each Parties’ representatives, heirs, executors,
administrators, successors and assigns. 
 13. Drafting. The Parties agree that this Agreement shall be construed without
regard to the drafter of the same and shall be construed as though each party to this Agreement participated equally in the preparation and drafting of this Agreement. 
  

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 14. Attorneys’ Fees. The parties are responsible for their own attorneys’ fees
incurred in connection with the preparation of this Agreement. In the event that any party to this Agreement asserts a claim for breach of this Agreement or seeks to enforce its terms, the prevailing party in any such proceeding shall be entitled to
recover costs and reasonable attorneys’ fees. 
 15. Execution of Additional Documents. The Parties agree to execute such
other, further, and different documents as reasonably may be required to effectuate this Agreement. 
 16. Headings. The
headings in each Section herein are for convenience of reference only and shall be of no legal effect in the interpretation of the terms hereof. 
 17. Integration. This Agreement constitutes a single, integrated, written contract, expressing the entire agreement between the Parties. It supersedes all prior agreements between the Parties, with the exception of the Change
in Control Agreement, the Indemnification Agreement and the Confidentiality Agreement as referred to herein. The Parties represent and warrant that they are not relying on any promises or representations that do not appear written herein. The
Parties further understand and agree that this Agreement can be amended or modified only by a written agreement, signed by all of the Parties hereto. 
 18. Severability. If any provision in this Agreement is found to be unenforceable, it shall not affect the enforceability of the remaining provisions and the court shall enforce the remaining provisions
to the extent permitted by law. 
 19. Counterparts and Original Document. This Agreement may be executed in counterparts.
Facsimile signatures on this Agreement shall be treated as original signatures. Any reproduction of this Agreement by reliable means (with complete signatures) will be considered an original of this document 
 IN WITNESS WHEREOF, the Parties hereto have executed this Transition Agreement and Release. 
 PLEASE READ THIS SETTLEMENT AGREEMENT CAREFULLY. IT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 
  

					
	DATED: 10/17/07	 		 	/S/    ROBERT L. BAILEY
		 		 	Robert L. Bailey

  

									
		 		 	PMC-Sierra, Inc.
				
	DATED: 10/18/07	 		 	By:	 	/S/    JONATHAN J. JUDGE
		 		 		 	Its:	 	Director, Chairman Compensation Committee

  

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 EXHIBIT A 
 SUPPLEMENTAL RELEASE 
 I, Robert L. Bailey, hereby agree and affirm as follows: 
 I have entered into a Transition Agreement and Release with PMC-Sierra dated
             20    , pursuant to which I released PMC-Sierra from and against all claims arising out of my employment with PMC-Sierra through the date of
the agreement (the “Agreement”). I hereby agree that the releases and waivers set forth in the Agreement (including the exceptions stated in its Sections 2 and 4) are incorporated herein by reference and shall apply in respect of all
claims arising out of my employment or the termination thereof during the period from the commencement of my employment with PMC-Sierra through and including the date of this Supplemental Release. 
 I further represent that I have not filed any claims, charges or any other proceedings against PMC-Sierra or the released parties. 
 I understand that if I choose not to sign this Supplemental Release, PMC-Sierra is not obligated to provide me with the additional benefits set forth in
Section 1(g) of the Agreement. 
 I understand and agree that I am not entitled to any further compensation, bonus or wages from
PMC-Sierra. 
 I understand and agree that I: 
 (a) Have a full twenty-one (21) days after receipt of this Supplemental Release within which to review and consider the Supplemental Release; 
 (b) Am advised to consult with an attorney whom I may freely choose prior to executing this Supplemental Release; 
 (c) Have carefully read and fully understands the provisions of this Supplemental Release; 
 (d) Am, through and in accordance with the terms set forth in this Supplemental Release, releasing Releasees from any and all claims I have or may come to
have against the Releasees to the same extent as the release in Sections 2 and 4 of the Agreement, including the exceptions thereto; 
 (e) Am
knowingly and voluntarily agreeing to all the terms set forth in this Supplemental Release; 
 (f) Have seven (7) days after the
execution of this Supplemental Release within which I may revoke it. In order to revoke this Supplemental Release, I must deliver to the Company’s General Counsel at 3975 Freedom Circle, Suite 100, Santa Clara, CA 95054, a letter stating that I
am revoking this Supplemental Release no later than seven (7) days after I execute it; 
  

 9 

 (g) That, because of this revocation period, this
Supplemental Release shall not become effective or enforceable until the eighth (8th) day following the date I execute this Supplemental Release (the
“Effective Date”); 
 (h) Am not waiving any rights or claims under the Age Discrimination in Employment Act of 1967 (29
U.S.C. § 621 et seq.) that may arise after the date this Supplemental Release is executed; and 
 (i) Am, by reason of the Agreement and
the release of claims therein, receiving from the Company good and sufficient consideration in addition to anything of value to which I am already entitled. 
  

							
	  	 		 	Date:	 	  
	Robert L. Bailey	 		 		 	

  

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