0001104659-03-010044 Sample Contracts

EMPLOYMENT AGREEMENT Between XM SATELLITE RADIO HOLDINGS INC. and XM SATELLITE RADIO INC. and HUGH PANERO Dated as of June 1, 2001 Amended March 20, 2003
Employment Agreement • May 15th, 2003 • Xm Satellite Radio Holdings Inc • Communications services, nec • Virginia

THIS AGREEMENT is entered into as of June 1, 2001 (the “Effective Date”), by and between XM Satellite Radio Holdings Inc., a Delaware corporation, and its subsidiary XM Satellite Radio Inc., a Delaware corporation, both having a place of business at 1500 Eckington Place, N.E., Washington, D.C. 20002 (hereinafter collectively referred to as “XM”) and Hugh Panero (“EMPLOYEE”) a resident of the State of Maryland.

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NON-QUALIFIED STOCK OPTION AGREEMENT
Non-Qualified Stock Option Agreement • May 15th, 2003 • Xm Satellite Radio Holdings Inc • Communications services, nec
AMENDED AND RESTATED DIRECTOR DESIGNATION AGREEMENT
Director Designation Agreement • May 15th, 2003 • Xm Satellite Radio Holdings Inc • Communications services, nec • Delaware

This Amended and Restated Director Designation Agreement, dated as of February 1, 2003 (this “Agreement”), is hereby entered into by and among XM Satellite Radio Holdings Inc., a corporation duly organized under the laws of the State of Delaware (the “Company”); AEA XM Investors I LLC, AEA XM Investors II LLC, AEA XM Investors IA LLC and AEA XM Investors IIA LLC, each a limited liability company organized under the laws of the State of Delaware (individually or collectively “AEA XM”); Clear Channel Investments, Inc., a corporation duly organized under the laws of the State of Nevada (“Clear Channel”);; Hughes Electronics Corporation, corporation duly organized under the laws of Delaware (“Hughes”); American Honda Motor Co., Inc., a corporation duly organized under the laws of the State of California (“Honda”); and Madison Dearborn Capital Partners III, L.P. (“Madison Capital”), Madison Dearborn Special Equity III, L.P. (“Madison Equity”), and Special Advisors Fund I, LLC (“Madison Advi

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