AMENDED AND RESTATED EMPLOYMENT AGREEMENT
(Daniel H. Schulman)
AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “ Agreement ”) dated as of January 1, 2008 (the “
Commencement Date ”) by and between Virgin Mobile USA, Inc. (the “ Company ”) and Daniel H. Schulman (the “ Executive ”).
WHEREAS, the Executive has been employed by the Company pursuant to the terms of an Amended and Restated
Employment Agreement, dated as of August 1, 2005 (the “ Original Agreement ”); and
WHEREAS, the Company and the Executive desire to amend and restate the Original Agreement in its entirety.
NOW THEREFORE, in consideration of the premises and mutual covenants herein and for other good and valuable
consideration, the parties agree to amend and restate the Original Agreement in its entirety as follows:
1. Term of Employment . Executive shall be employed by the Company hereunder for a period commencing as of the
Commencement Date and ending upon termination of Executive’s employment pursuant to Section 9 of this Agreement (the “
Employment Term ”).
2. Position .
(a) During the Employment Term, Executive shall serve as the Company’s Chief Executive Officer and shall
serve as a member of the Company’s Board of Directors (the “ Board ”). As Chief Executive Officer, Executive shall have full
authority for the day to day operations of the business, subject to Board oversight and prior approval of the Board for major
transactions and financial commitments and such other duties, consistent with Executive’s position, as shall be determined from
time to time by the Board. Executive shall have exclusive authority with regard to the hiring and firing of all employees (other
than himself) and consultants; provided that (i) Executive shall consult with the Board with regard to the hiring and firing of
senior executives and (ii) following consultation with Executive, the Board shall retain the right to unilaterally terminate the
employment of any such employee or consultant for cause. Notwithstanding the for