Exhibit 10.6
Execution Copy
FIRST AMENDMENT
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FIRST
AMENDMENT, dated as of August 8, 2005 (this “ First
Amendment ”), to the Employment Agreement, dated as of
May 5, 2004 (the “ Agreement ”), between SIRIUS
SATELLITE RADIO INC., a Delaware corporation (the “
Company ”), and SCOTT GREENSTEIN (the “
Executive ”).
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WITNESSETH :
WHEREAS,
the Company and the Executive jointly desire to amend certain
provisions of the Agreement in the manner provided for in this
First Amendment;
NOW,
THEREFORE, for valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, and in consideration of the
premises contained herein, the Company and the Executive hereby
agree as follows:
1.
Amendment of Section 3 (Term) and Section 6 (Termination) of the
Agreement . Section 3 and Section 6(f) of the Agreement are
hereby amended by deleting “May 4, 2007” and
substituting in lieu thereof “July 31,
2009.”
2.
Amendments of Section 4 (Compensation) of the Agreement .
Section 4(a) of the Agreement is hereby amended by deleting the
figure “$525,000” and substituting in lieu thereof
“$700,000.”
(b)
The second sentence of Section 4(a) of the Agreement is hereby
amended by deleting the phrase “ provided that the
Base Salary shall at all times be not less than the base salary of
the Company’s President, Operations and
Sales.”
(c)
Sections 4(c) and 4(d) of the Agreement are hereby amended by
deleting the third sentences thereof.
(d)
Section 4(e) of the Agreement is hereby amended by deleting the
fourth sentence thereof.
3.
Amendment of Section 5 (Additional Compensation; Expenses and
Benefits) of the Agreement . The Agreement is hereby amended by
deleting Section 5(c) thereof.
