DIRECTV HOLDINGS LLC
AGREEMENT OF TERMINATION DATED 6/1/04
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<DESCRIPTION>AGREEMENT OF TERMINATION DATED 6/1/04
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10.1 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>EXECUTION VERSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B><U>AGREEMENT OF TERMINATION</U> </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2"><B>THIS AGREEMENT OF TERMINATION </B>(this &#147;<U>Agreement</U>&#148;) shall be effective immediately as of June 1, 2004 (the &#147;<U>Effective
Date</U>&#148;), between <B>DIRECTV, Inc.</B>, a California corporation (&#147;<U>DIRECTV</U>&#148;), as assignee of Hughes Communications Galaxy, Inc., Hughes Communications Galaxy, Inc., as predecessor-in-interest (&#147;<U>Hughes</U>&#148;), and
<B>National Rural Telecommunications Cooperative</B>, a District of Columbia corporation (&#147;<U>NRTC</U>&#148;, and together with DIRECTV and Hughes, the &#147;<U>Parties</U>&#148;), with reference to the following: </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">WHEREAS, DIRECTV, as assignee of Hughes Communication Galaxy, Inc., Hughes,
as predecessor-in-interest, and NRTC are parties to that certain DBS Distribution Agreement dated as of April 10, 1992 (as amended to the date hereof, including, without limitation, on February 14, 1994, the &#147;<U>DBS Distribution
Agreement</U>&#148;); </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">WHEREAS, in connection with the
settlement of the class action lawsuit brought by North Central Communications and Iowa Lake Electric Corporation, on behalf of the plaintiff class certified in the United States District Court for the Central District of California, Case No.
CV00-2117, and NRTC against DIRECTV, Case Nos. CV99-5666, CV99-8672, CV01-0993 and CV01-8121, NRTC and DIRECTV entered into that certain New DBS Distribution Agreement pursuant to a Complete Restatement of Amended Term Sheet effective as of August
5, 2003 (the &#147;<U>New DBS Distribution Agreement</U>&#148;); </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman"
SIZE="2">WHEREAS, in connection with and in furtherance of the DBS Distribution Agreement, DIRECTV and NRTC entered into that certain Trademark License Agreement dated as of September 12, 1994 (the &#147;<U>Trademark Agreement</U>&#148;), and
pursuant to the terms and conditions thereof, such Trademark Agreement shall automatically terminate upon the termination, for any reason, of the DBS Distribution Agreement; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">WHEREAS, DIRECTV and NRTC are parties to that certain Second Revised Seamless Consumer Agreement, dated as of March 10, 2004
(the &#147;<U>Seamless Consumer Agreement</U>&#148;); and </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman"
SIZE="2">WHEREAS, pursuant to that certain Memorandum of Agreement dated as of June 1, 2004, by and between DIRECTV and NRTC (the &#147;<U>Memorandum of Agreement</U>&#148;), and in consideration for the terms and conditions therein and other good
and valuable consideration received thereby, DIRECTV and NRTC terminated each of the DBS Distribution Agreement, the New DBS Distribution Agreement, the Trademark Agreement and the Seamless Consumer Agreement, and, in furtherance thereof, the
Parties desire to confirm and memorialize such termination of each the DBS Distribution Agreement, the New DBS Distribution Agreement, the Trademark Agreement and the Seamless Consumer Agreement. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">Capitalized terms used, but not otherwise defined herein, shall have the
respective meanings ascribed to such terms in the Memorandum of Agreement. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">NOW, THEREFORE, for and in consideration of the premises, terms and conditions set forth herein, the
mutual benefits to be gained by the performance thereof and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">1. <B>TERMINATION. </B>Effective as of the date hereof, the Parties hereby
mutually terminate the DBS Distribution Agreement, and NRTC and DIRECTV hereby mutually terminate each of the New DBS Distribution Agreement, the Trademark Agreement and the Seamless Consumer Agreement, and such agreements are of no further force or
effect. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">2. <B>CERTAIN RIGHTS AND OBLIGATIONS CONTINUE.</B>
Notwithstanding the foregoing, any obligations of NRTC to pay any amounts to DIRECTV and/or obligations of NRTC to receive payments from DIRECTV, which have accrued prior to the date hereof, shall survive the termination of the DBS Distribution
Agreement, the New DBS Distribution Agreement, the Trademark Agreement and the Seamless Consumer Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">3. <B>MISCELLANEOUS.</B> </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">3.1. <B>LAWS. </B>THIS AGREEMENT HAS BEEN ENTERED INTO IN THE STATE OF CALIFORNIA AND ALL ISSUES WITH RESPECT TO THE CONSTRUCTION OF THIS AGREEMENT AND
THE RIGHTS AND LIABILITIES OF THE PARTIES SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF CALIFORNIA, WITHOUT REGARD TO ITS CONFLICTS OF LAW RULES. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">3.2. <B>INTEGRATION. </B>This Agreement, the Memorandum of Agreement and the other Definitive Agreements referred to in the
Memorandum of Agreement constitute the entire understanding and agreement of the Parties and replace and supersede all prior agreements, understandings and commitments, written or oral, between the Parties with respect to each of the DBS
Distribution Agreement, the New DBS Distribution Agreement, the Trademark Agreement and the Seamless Consumer Agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman" SIZE="2">3.3. <B>COUNTERPARTS</B>. This Agreement may be executed in one or more counterparts, and by telecopy, each of which shall be deemed an original but all
of which together shall constitute one and the same instrument. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT FACE="Times New Roman"
SIZE="2">3.4. <B>HEADINGS</B>. The headings contained in this Agreement are for convenience of reference only and shall have no effect on the interpretation or operation hereof. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">* * * * </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">IN WITNESS WHEREOF, the undersigned have executed this Agreement of Termination as of the date first set
forth above. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE </B></FONT></P>
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">/s/ B. R. Phillips III</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">B. R. Phillips III</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:1px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">President and Chief Executive Officer</FONT></P></TD></TR>
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<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>DIRECTV, INC.</B></FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">/s/ Michael W. Palkovic</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Michael W. Palkovic</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:1px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Executive Vice President and Chief Financial Officer</FONT></P></TD></TR>
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<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>HUGHES COMMUNICATIONS GALAXY, INC.</B></FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">/s/ Larry D. Hunter</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Larry D. Hunter</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:1px; margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Senior Vice President and General Counsel</FONT></P></TD></TR>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">S-1 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">[Signature page to Agreement of Termination] </FONT></P>

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