<SEC-DOCUMENT>0000930413-21-000318.txt : 20210217
<SEC-HEADER>0000930413-21-000318.hdr.sgml : 20210217
<ACCEPTANCE-DATETIME>20210217161550
ACCESSION NUMBER:		0000930413-21-000318
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		17
CONFORMED PERIOD OF REPORT:	20210216
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210217
DATE AS OF CHANGE:		20210217

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIRIUS XM HOLDINGS INC.
		CENTRAL INDEX KEY:			0000908937
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO BROADCASTING STATIONS [4832]
		IRS NUMBER:				383916511
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34295
		FILM NUMBER:		21644953

	BUSINESS ADDRESS:	
		STREET 1:		1290 AVENUE OF THE AMERICAS
		STREET 2:		11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10104
		BUSINESS PHONE:		212-584-5100

	MAIL ADDRESS:	
		STREET 1:		1290 AVENUE OF THE AMERICAS
		STREET 2:		11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SIRIUS XM RADIO INC.
		DATE OF NAME CHANGE:	20080805

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SIRIUS SATELLITE RADIO INC
		DATE OF NAME CHANGE:	19991228

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CD RADIO INC
		DATE OF NAME CHANGE:	19940203
</SEC-HEADER>
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</div><p style="font: 16pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>UNITED STATES</b></p><div>

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</div><p style="font: 16pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>CURRENT REPORT</b></p><div>

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</div><p style="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Pursuant to Section 13 or 15(d) of the
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Securities registered pursuant to Section 12(b) of the Ac</p><div>

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<p style="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><span style="font-size: 14pt">&#160;</span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

</div><div>


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<td style="width: 0"></td><td style="width: 1in"><b>Item 5.02.</b></td><td><b>Departure of Directors or Certain Officers; Election of Directors;<br/>
Appointment of Certain Officers;
Compensatory Arrangements of <br/>
Certain Officers</b></td></tr></table><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 37.5pt; text-indent: 34.5pt"><b></b></p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 36.2pt">On February 16, 2021, we amended our employment
agreements with Jennifer C. Witz, our Chief Executive Officer, and Sean S. Sullivan, our Executive Vice President and Chief Financial
Officer. The amendments reflect modifications to their performance-based restricted stock unit awards to more closely align the
performance metrics with changes to the long-term equity compensation program adopted by the Compensation Committee of our Board
of Directors (the &#8220;Compensation Committee&#8221;) for our senior management generally. No changes have been made to the grant
date value of these executives&#8217; awards.</p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 36.2pt">The long-term equity compensation for our senior
management in recent years has generally consisted of stock options, restricted stock units (&#8220;RSUs&#8221;) and performance-based
restricted stock units (&#8220;PRSUs&#8221;) with a two-year cumulative free cash flow performance target. In 2021, the Compensation
Committee approved a modification to the design of our long-term equity compensation program. The Compensation Committee intends
to award equity-based compensation to our senior management in the form of: 25% stock options, which awards will vest in installments
on the first three anniversaries of the date of grant; 25% RSUs, which awards will vest in installments on the first three anniversaries
of the date of grant; 25% PRSUs, which will cliff vest on the third anniversary of the date of grant after a two-year performance
period if the free cash flow target established by the Compensation Committee is achieved; and 25% PRSUs, which will cliff vest
after a three-year performance period based on the performance of Sirius XM Holdings Inc.&#8217;s common stock relative to the
companies included in the S&amp;P 500 Index.</p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 36.2pt">We amended the PRSU agreement included in Ms.
Witz&#8217;s employment agreement to more closely align the performance metrics to this long-term equity compensation program.
In lieu of the PRSU award contemplated in her employment agreement, Ms. Witz received the following awards on February 16, 2021:
an award of PRSUs having a $5 million target value as of the date of grant which will cliff vest on December 31, 2023 after a two-year
performance period if a free cash flow target established by the Compensation Committee is achieved; and an award of PRSUs having
a $5 million value as of the date of grant which will cliff vest at the end of a performance period commencing on January 1, 2021
and ending on December 31, 2023, based on the performance of our common stock relative to the companies in the S&amp;P 500 Index.</p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 36.2pt">We amended the PRSU agreement included in Mr.
Sullivan&#8217;s employment agreement in similar respects. In lieu of Mr. Sullivan&#8217;s PRSU award with a grant date value of
$4.5 million, we granted Mr. Sullivan the following awards: an award of 381,663 PRSUs (a $2.25 million target value as of the award
date, October 27, 2020, plus dividends declared and accrued from the award date), which will cliff on October 26, 2023 after a
two-year performance period if a free cash flow target established by the Compensation Committee is achieved; and an award of 381,663
PRSUs (a $2.25 million target value as of the award date, October 27, 2020, plus dividends declared and accrued from the award
date), which will cliff at the end of a performance period commencing on January 1, 2021 and ending on December 31, 2023 based
on the performance of our common stock relative to the companies in the S&amp;P 500 Index. Mr. Sullivan will vest in that award
on October 26, 2023, subject to the Compensation Committee&#8217;s certification of our performance during the performance period.</p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 36.2pt">&#160;</p><div>

</div><p style="text-align: center; font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">2</p><div>

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</div><p style="font: 12pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"></p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 36.2pt">Each of these awards is subject to acceleration
or termination under certain circumstances. The foregoing descriptions of the amendments to the employment agreements with Ms.
Witz and Mr. Sullivan are qualified in their entirety by the amendments attached as Exhibits 10.1 and 10.2 to this Current Report
on Form 8-K.</p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p><div>

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</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits.</p><div>

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    <td>&#160;</td>
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    <td><span style="font-family: Times New Roman, Times, Serif"><a href="c101199_ex10-1.htm" style="-sec-extract: exhibit">First Amendment, dated February 16, 2021, to the Employment Agreement, dated as of September 14, 2020, between Sirius XM Radio Inc. and Jennifer C. Witz</a></span></td></tr>
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    <td>&#160;</td>
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    <td><span style="font-family: Times New Roman, Times, Serif"><a href="c101199_ex10-2.htm" style="-sec-extract: exhibit">First Amendment, dated February 16, 2021, to the Employment Agreement, dated as of September 14, 2020, between Sirius XM Radio Inc. and Sean S. Sullivan</a></span></td></tr>
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</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</p><div>

</div><p style="text-align: center; font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">3</p><div>


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</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>SIGNATURES</b></p><div>

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</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</p><div>


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    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td></tr>
<tr style="vertical-align: top">
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    <td>&#160;</td>
    <td>&#160;</td></tr>
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</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</p><div>

</div><p style="font: 12pt Times New Roman, Times, Serif; margin: 0">Dated: February 17, 2021</p><div>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 10.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FIRST AMENDMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">FIRST AMENDMENT, dated as of February 16,
2021 (this &ldquo;<U>First Amendment</U>&rdquo;), to the Employment Agreement, dated as of September 14, 2020 (the &ldquo;<U>Agreement</U>&rdquo;),
between SIRIUS XM RADIO INC., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and JENNIFER C. WITZ (the &ldquo;<U>Executive</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>WITNESSETH</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">WHEREAS, the Company
and the Executive jointly desire to amend certain provisions of the Agreement in the manner provided for in this First Amendment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">1. <U>Amendments to
Section 4 (Compensation) of the Agreement</U>. (a) Section 4(b) of the Agreement is hereby amended by deleting the first sentence
thereof in its entirety and replacing it with the following sentence:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 0pt">&ldquo;On February
3, 2021 (such date, as applicable, the &ldquo;<U>Grant Date</U>&rdquo;), Holdings has granted to the Executive the awards set forth
in subsections (i) and (ii) of this Section 4(b), and on February 16, 2021, the Company shall cause Holdings to grant to the Executive
the awards set forth in subsections (iii) and (iv) of this Section 4(b):&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(b) Section 4(b) of
the Agreement is hereby amended by deleting subsection (iii) thereof in its entirety and replacing it with the following subsections:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt"><B>&ldquo;</B>(iii)<B>
</B>a number of performance-based restricted stock units (&ldquo;<U>PRSUs</U>&rdquo;) equal to $5,000,000, divided by the average
closing price of the Common Stock on the Nasdaq Global Select Market on the twenty (20) trading days preceding, but not including,
February 16, 2021. Such PRSUs shall be subject to the terms and conditions set forth in the Performance&ndash;Based Restricted
Stock Unit Agreement attached to this Agreement as Exhibit C-1; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">(iv)<B> </B>a
number of PRSUs equal to $5,000,000, divided by the average closing price of the Common Stock on the Nasdaq Global Select Market
on the twenty (20) trading days preceding, but not including, February 16, 2021. Such PRSUs shall be subject to the terms and conditions
set forth in the Performance&ndash;Based Restricted Stock Unit Agreement (Relative TSR) attached to this Agreement as Exhibit C-2.<B>&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">2. <U>PRSU Agreements</U>.
In order to effectuate the intent of this First Amendment, the Executive and the Company agree that Performance&ndash;Based Restricted
Stock Unit Agreement attached to the Agreement as Exhibit C shall be deleted and replaced with Performance&ndash;Based Restricted
Stock Unit Agreement attached to this First Amendment as Exhibit C-1 and the</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">Performance&ndash;Based Restricted Stock Unit Agreement
(Relative TSR) attached to this First Amendment as Exhibit C-2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">3. <U>No Other Amendments</U>.
Except as expressly amended, modified and supplemented by this First Amendment, the provisions of the Agreement are and shall remain
in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">4. <U>Governing Law</U>.
This First Amendment shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><FONT STYLE="font-weight: normal; text-underline-style: none">5.
</FONT><FONT STYLE="font-weight: normal"><U>Counterparts</U><FONT STYLE="text-underline-style: none">. This First Amendment may
be executed in counterparts, all 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 party.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">6. <U>Entire Agreement</U>.
This First Amendment represents the entire agreement of the Company and the Executive with respect to the subject matter hereof,
and there are no promises, undertakings, representations or warranties by the parties hereto relative to the subject matter hereof
not expressly set forth or referred to herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">7. <U>No &ldquo;Good
Reason&rdquo;</U>. The Executive acknowledges and agrees that neither the execution nor implementation of this First Amendment
shall give rise to any claim for &ldquo;Good Reason&rdquo; by the Executive under the Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">IN WITNESS WHEREOF, the parties hereto have
caused this First Amendment to be duly executed and delivered by their proper and duly authorized officers as of the day and year
first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

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    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD COLSPAN="4" STYLE="vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif">SIRIUS XM RADIO INC.&nbsp;&nbsp;</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 4%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 35%">&nbsp;</td>
    <TD STYLE="vertical-align: top; width: 10%">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif">By:</font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/&nbsp;
    </FONT></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dara
    F. Altman</FONT></td>
    <TD STYLE="vertical-align: top"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; font-weight: normal">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; font-weight: normal">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; font-weight: normal">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; font-weight: normal"><font style="font: 10pt Times New Roman, Times, Serif">Dara F. Altman</font></td>
    <TD STYLE="vertical-align: top; font-weight: normal">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif">Executive Vice President, </font></td>
    <TD STYLE="vertical-align: top">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif">Chief Administrative Officer</font></td>
    <TD STYLE="vertical-align: top">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1px solid"><font style="font-family: Times New Roman, Times, Serif">/s/&nbsp;
    </font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jennifer C. Witz</FONT></td>
    <TD STYLE="vertical-align: top"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif">Jennifer C. Witz </font></td>
    <TD STYLE="vertical-align: top">&nbsp;</td></tr>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Exhibit C-1</U></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIRIUS XM HOLDINGS INC.<BR>
2015 LONG-TERM STOCK INCENTIVE PLAN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PERFORMANCE-BASED RESTRICTED STOCK UNIT
AGREEMENT<BR>
(FREE CASH FLOW)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt; text-align: left">This PERFORMANCE-BASED RESTRICTED STOCK UNIT
AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;), dated February 16, 2021, is between SIRIUS XM HOLDINGS INC., a Delaware corporation
(the &ldquo;<U>Company</U>&rdquo;), and JENNIFER C. WITZ (the &ldquo;<U>Executive</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt; text-align: justify">1. <U>Grant of PRSUs</U>. Subject to the
terms and conditions of this Agreement, the Sirius XM Holdings Inc. 2015 Long-Term Stock Incentive Plan (the &ldquo;<U>Plan</U>&rdquo;),
and the Employment Agreement dated as of September 14, 2020 between Sirius XM Radio Inc. (&ldquo;<U>Sirius XM</U>&rdquo;) and the
Executive (as amended, the &ldquo;<U>Employment Agreement</U>&rdquo;), the Company hereby grants 812,612 performance-based restricted
stock units (&ldquo;<U>PRSUs</U>&rdquo;) to the Executive. Each PRSU represents the unfunded, unsecured right of the Executive
to receive one share of common stock, par value $0.001 per share, of the Company (each, a &ldquo;<U>Share</U>&rdquo;) on the date
specified in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt; text-align: justify">2. <U>Dividends</U>. If on any date while
PRSUs are outstanding the Company shall pay any dividend on the Shares (other than a dividend payable in Shares), the number of
PRSUs granted to the Executive shall, as of the record date for such dividend payment, be increased by a number of PRSUs equal
to: (a) the product of (x) the number of PRSUs held by the Executive as of such record date, multiplied by (y) the per Share amount
of any cash dividend (or, in the case of any dividend payable, in whole or in part, other than in cash, the per Share value of
such dividend, as determined in good faith by the Company), divided by (b) the average closing price of a Share on the Nasdaq Global
Select Market on the twenty (20) trading days preceding, but not including, such record date. In the case of any dividend declared
on Shares that is payable in the form of Shares, the number of PRSUs granted to the Executive shall be increased by a number equal
to the product of (1) the aggregate number of PRSUs held by the Executive on the record date for such dividend, multiplied by (2)
the number of Shares (including any fraction thereof) payable as a dividend on a Share. In the case of any other change in the
Shares occurring after the date hereof, the number of PRSUs shall be adjusted as set forth in Section 4(b) of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">3. <U>No Rights of a
Stockholder</U>. The Executive shall not have any rights as a stockholder of the Company until the Shares have been issued. Once
a PRSU vests and a Share is issued to the Executive pursuant to Sections 4 and 5, such PRSU is no longer considered a PRSU for
purposes of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">4. <U>Issuance of Shares
Subject to PRSUs</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(a) <I>Performance Metric</I>.
The PRSUs shall be eligible to vest based on the Company&rsquo;s level of achievement of cumulative free cash flow as set forth
in the budgets (the &ldquo;<U>Performance Metric Target</U>&rdquo;) approved by the Company&rsquo;s Board of Directors (the &ldquo;<U>Board</U>&rdquo;)
for the years ending December 31, 2021 and December 31, 2022 (together, the &ldquo;<U>Performance Period</U>&rdquo;). The </P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">annual
free cash flow component for each of 2021 and 2022 of the Performance Metric Target shall be set at the time such applicable budget
is approved by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Free cash flow shall
be derived from cash flow provided by operating activities, net of additions to property and equipment, restricted and other investment
activity and the return of capital from investment in unconsolidated entities. The Compensation Committee of the Board shall adjust
or modify the calculation of free cash flow and/or the Performance Metric Target for the Performance Period in accordance with
Sections 4(b) and 12(c) of the Plan, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">The Performance Metric
Target for each of the years ending December 31, 2021 and 2022 shall be reasonable in light of the Company&rsquo;s business plan
and budget for the applicable year and other factors affecting the Company&rsquo;s business taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(b) <I>Calculation of
Shares to be Issued</I>. No later than sixty (60) days following the end of the Performance Period, the Company shall certify the
Company&rsquo;s level of achievement of the Performance Metric Target (such actual date of certification, the &ldquo;<U>Certification
Date</U>&rdquo;) and determine the number of PRSUs that shall remain eligible to vest, as set forth below, in accordance with the
terms of the Plan and/or this Agreement (such PRSUs, the &ldquo;<U>Eligible PRSUs</U>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 72pt">(i) If the
Company fails to achieve at least 80% of the Performance Metric Target, 0% of the PRSUs shall constitute Eligible PRSUs;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 72pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 72pt">(ii) Upon achieving
100% or more of the Performance Metric Target, 100% of the PRSUs shall constitute Eligible PRSUs; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 72pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 72pt">(iii) If the
Company&rsquo;s achievement of the Performance Metric Target falls between 80% and 100% of the Performance Metric Target, the number
of PRSUs that become Eligible PRSUs shall be determined by straight line interpolation between the thresholds set forth in subsections
(i) and (ii) of this Section 4(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 72pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">The payout scale set
forth above may be modified in order to increase (but not decrease) the percentage of PRSUs that vest hereunder. Any PRSUs that
do not constitute Eligible PRSUs as of the Certification Date shall be cancelled on the Certification Date. Except as otherwise
provided in Section 5, in order to receive the Eligible PRSUs, the Executive must be employed by Sirius XM on December 31, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(c) <I>Issuance of Eligible
PRSUs</I>. Subject to earlier issuance pursuant to the terms of this Agreement or the Plan, on December 31, 2023, the Company shall
issue, or cause there to be transferred, to the Executive an amount of Shares representing the Eligible PRSUs (as adjusted pursuant
to Section 2 above, if applicable); <U>provided</U> that the Executive continues to be employed by Sirius XM on December 31, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">5. <U>Termination of
Employment</U>. (a) If the Executive&rsquo;s employment with Sirius XM terminates for any reason, then the PRSUs shall immediately
terminate without consideration; <U>provided</U> that if the Executive&rsquo;s employment with Sirius XM is terminated (x) due
to death or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &ldquo;<U>Disability</U>&rdquo; (as defined in the Employment Agreement), (y) by Sirius XM without &ldquo;<U>Cause</U>&rdquo;
(as defined in the Employment Agreement), or (z) by the Executive for &ldquo;<U>Good Reason</U>&rdquo; (as defined in the Employment
Agreement) (any such applicable date of termination, the &ldquo;<U>PRSU Termination Date</U>&rdquo;), then the PRSUs shall be treated
in the following manner:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 72pt">(i) if the
PRSU Termination Date occurs on or prior to the end of the Performance Period, or if the PRSU Termination Date occurs prior to
the establishment of the Performance Metric Target for the Performance Period, then the PRSUs granted to the Executive under this
Agreement, to the extent not previously settled, cancelled or forfeited, shall, subject to Section 5(b), immediately become vested
and the Company shall issue, or cause there to be transferred, to the Executive the amount of Shares equal to the number of PRSUs
granted to the Executive under this Agreement, notwithstanding Section 4(b), and as adjusted pursuant to Section 2 above, if applicable;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 72pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 72pt">(ii) if the
PRSU Termination Date occurs after the last day of the Performance Period, all Eligible PRSUs, to the extent not previously settled,
cancelled or forfeited, shall, subject to Section 5(b), immediately (or, if later, on the Certification Date) become vested and
the Company shall issue, or cause there to be transferred, to the Executive the amount of Shares equal to the number of Eligible
PRSUs earned pursuant to Section 4(b), as adjusted pursuant to Section 2 above, if applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify; text-indent: 72pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(b) In the event the
Executive&rsquo;s employment with Sirius XM terminates due to death or Disability, by Sirius XM without Cause or by the Executive
for Good Reason, the condition in Section 4(c) that the Executive be an employee of Sirius XM shall be waived in order to give
effect to the foregoing Section 5(a); <U>provided</U> that the Executive executes a release in accordance with Section 6(g) of
the Employment Agreement (except that the Company&rsquo;s general counsel may waive such requirement in the case of the Executive&rsquo;s
death).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(c) The Company shall
issue, or cause there to be transferred, to the Executive an amount of Shares representing the Eligible PRSUs (as adjusted pursuant
to Section 2 above, if applicable) as provided in Section 5(a)(i) or (ii), as applicable, on the 60<SUP>th</SUP> day following
the Executive&rsquo;s termination of employment, but in no event later than March 15<SUP>th</SUP> of the year following the year
of such termination of employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">6. <U>Change of Control</U>.
In the event of a Change of Control, the PRSUs shall be governed by the terms of the Plan; <U>provided</U> that any transactions
between the Company, Sirius XM and/or any of their respective wholly-owned subsidiaries, on the one hand, and Liberty Media Corporation,
any Qualified Distribution Transferee (as defined in the Investment Agreement, dated as of February 17, 2009, between the Company
and Liberty Radio LLC, as amended) and/or any of their respective wholly-owned subsidiaries, on the other hand, shall not constitute
a Change of Control under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">7. <U>Non-transferable</U>.
The PRSUs may not be transferred, assigned, pledged or hypothecated in any manner (whether by operation of law or otherwise) other
than by will or by the applicable laws of descent and distribution, and shall not be subject to execution, attachment or similar
process. Any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of PRSUs or of any right or privilege conferred
hereby shall be null and void. In the event of the </P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Executive&rsquo;s death, any amounts owed to the Executive hereunder shall instead
be paid to the Executive&rsquo;s designated beneficiary (or, if none, to the Executive&rsquo;s estate).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">8. <U>Withholding</U>.
Prior to delivery of the Shares pursuant to this Agreement, the Company shall determine the amount of any United States federal,
state and local income taxes, if any, which are required to be withheld under applicable law and shall, as a condition of delivery
of the Shares pursuant to this Agreement, collect from the Executive the amount of any such tax to the extent not previously withheld
in any manner permitted by the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">9. <U>Rights of the
Executive</U>. Neither this Agreement nor the PRSUs shall confer upon the Executive any right to, or guarantee of, continued employment
by Sirius XM or any of its subsidiaries or affiliates, or in any way limit the right of Sirius XM or any of its subsidiaries or
affiliates to terminate the employment of the Executive at any time, subject to the terms of the Employment Agreement, or any other
written employment or similar written agreement between or among the Company, Sirius XM or any of their subsidiaries or affiliates,
and the Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">10. <U>Professional
Advice</U>. The acceptance of the PRSUs may have consequences under federal and state tax and securities laws that may vary depending
upon the individual circumstances of the Executive. Accordingly, the Executive acknowledges that the Executive has been advised
to consult the Executive&rsquo;s personal legal and tax advisors in connection with this Agreement and the PRSUs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">11. <U>Agreement Subject
to the Plan</U>. This Agreement and the PRSUs are subject to the terms and conditions set forth in the Plan, which terms and conditions
are incorporated herein by reference. Capitalized terms used herein but not otherwise defined shall have the same meaning as in
the Plan. The Executive acknowledges that a copy of the Plan is posted on Sirius XM&rsquo;s intranet site and the Executive agrees
to review it and comply with its terms. This Agreement, the Employment Agreement and the Plan constitute the entire understanding
between or among the Company, Sirius XM and the Executive with respect to the PRSUs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">12. <U>Governing Law</U>.
This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, and shall bind and inure
to the benefit of the heirs, executors, personal representatives, successors and assigns of the parties hereto. Any disputes arising
from or relating to this Agreement shall be subject to arbitration pursuant to Section 20 of the Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">13. <U>Notices</U>.
All notices and other communications hereunder shall be in writing and shall be deemed given when delivered personally or when
telecopied (with confirmation of transmission received by the sender), three (3) business days after being sent by certified mail,
postage prepaid, return receipt requested or one (1) business day after being delivered to a nationally recognized overnight courier
with next day delivery specified to the parties at the following addresses (or at such other address for a party as shall be specified
by like notice):</P>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 15%">&nbsp;</td>
    <TD STYLE="width: 15%"><font style="font-family: Times New Roman, Times, Serif">Company:</font></td>
    <TD STYLE="width: 70%"><font style="font-family: Times New Roman, Times, Serif">Sirius XM Holdings Inc.</font></td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font-family: Times New Roman, Times, Serif">1221 Avenue of the Americas</font></td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font-family: Times New Roman, Times, Serif">35<sup>th</sup> Floor</font></td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font-family: Times New Roman, Times, Serif">New York, New York 10020</font></td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font-family: Times New Roman, Times, Serif">Attention:&nbsp;&nbsp;General Counsel</font></td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD><font style="font-family: Times New Roman, Times, Serif">Executive:</font></td>
    <TD><font style="font-family: Times New Roman, Times, Serif">Address on file at the </font></td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font-family: Times New Roman, Times, Serif">office of the Company</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notices sent by email or other electronic means not specifically
authorized by this Agreement shall not be effective for any purpose of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">14. <U>Binding Effect</U>. This Agreement
has been duly executed and delivered by the Company and constitutes the legal, valid and binding obligation of the Company enforceable
against the Company in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">15. <U>Amendment</U>. The rights of the Executive
hereunder may not be impaired by any amendment, alteration, suspension, discontinuance or termination of the Plan or this Agreement
without the Executive&rsquo;s consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">16. <U>Section 409A</U>. This Award Agreement
and the PRSUs granted hereunder are intended to be exempt from Section 409A of the Code and the rules and regulations thereunder
such as to avoid any additional taxation under the Section 409A of the Code. Any ambiguity herein shall be interpreted in accordance
with the foregoing.</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%"><PAGE></PAGE></TD><TD STYLE="text-align: right; width: 50%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">IN WITNESS WHEREOF, the undersigned have
executed this Agreement as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SIRIUS XM HOLDINGS INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD STYLE="vertical-align: bottom; width: 3%"><font style="font-family: Times New Roman, Times, Serif">By:</font></td>
    <TD STYLE="vertical-align: bottom; width: 45%; border-bottom: Black 1px solid"><font style="font-family: Times New Roman, Times, Serif">Exhibit C-1</font></td>
    <TD STYLE="vertical-align: top; width: 4%">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 48%; border-bottom: Black 1px solid"><font style="font-family: Times New Roman, Times, Serif">Exhibit C-1</font></td></tr>
<tr>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif">Dara Altman</font></td>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif">JENNIFER C. WITZ</font></td></tr>
<tr>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif">Executive Vice President and</font></td>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif">Chief Administrative Officer</font></td>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td></tr>
</table>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Exhibit C-2</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIRIUS XM HOLDINGS INC.<BR>
2015 LONG-TERM STOCK INCENTIVE PLAN
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PERFORMANCE-BASED RESTRICTED STOCK UNIT
AGREEMENT<BR>
(RELATIVE TSR)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">This PERFORMANCE-BASED
RESTRICTED STOCK UNIT AGREEMENT (RELATIVE TSR) (this &ldquo;<U>Agreement</U>&rdquo;), dated February 16, 2021, is between SIRIUS
XM HOLDINGS INC., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and JENNIFER C. WITZ (the &ldquo;<U>Executive</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">1. <U>Grant of PRSUs</U>.
Subject to the terms and conditions of this Agreement, the Sirius XM Holdings Inc. 2015 Long-Term Stock Incentive Plan (the &ldquo;<U>Plan</U>&rdquo;)
and the Employment Agreement dated as of September 14, 2020 between Sirius XM Radio Inc. and the Executive (the &ldquo;<U>Employment
Agreement</U>&rdquo;), the Company hereby grants 812,612<FONT STYLE="color: blue"><B> </B></FONT>performance-based restricted stock
units (&ldquo;<U>PRSUs</U>&rdquo;) to the Executive, representing the target number of PRSUs eligible to be earned under this Agreement
(the &ldquo;<U>Target PRSUs</U>&rdquo;). Each PRSU represents the unfunded, unsecured right of the Executive to receive one share
of common stock, par value $0.001 per share, of the Company (each, a &ldquo;<U>Share</U>&rdquo;) on the date specified in this
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">2. <U>Dividends</U>.
If on any date while PRSUs are outstanding the Company shall pay any dividend on the Shares (other than a dividend payable in Shares),
the number of PRSUs granted to the Executive shall, as of the record date for such dividend payment, be increased by a number of
PRSUs equal to: (a) the product of (x) the number of PRSUs held by the Executive as of such record date, multiplied by (y) the
per Share amount of any cash dividend (or, in the case of any dividend payable, in whole or in part, other than in cash, the per
Share value of such dividend, as determined in good faith by the Company), divided by (b) the average closing price of a Share
on the Nasdaq Global Select Market on the twenty (20) trading days preceding, but not including, such record date. In the case
of any dividend declared on Shares that is payable in the form of Shares, the number of PRSUs granted to the Executive shall be
increased by a number equal to the product of (1) the aggregate number of PRSUs held by the Executive on the record date for such
dividend, multiplied by (2) the number of Shares (including any fraction thereof) payable as a dividend on a Share. In the case
of any other change in the Shares occurring after the date hereof, the number of PRSUs shall be adjusted as set forth in Section
4(b) of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">3. <U>Issuance of Shares
subject to PRSUs</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(a) <I>Performance Metric</I>.
All or a portion of the PRSUs shall be eligible to vest based on the Company&rsquo;s level of achievement of the Performance Metric
set forth on the Performance Matrix attached hereto as <U>Annex A</U> (the &ldquo;<U>Performance Matrix</U>&rdquo;), subject to
the terms set forth therein and herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(b) <I>Calculation of
Shares to be Issued</I>. No later than sixty (60) days following the end of the Performance Period, the Company shall certify the
Company&rsquo;s level of achievement of the Performance Metric (such actual date of certification, the &ldquo;<U>Certification
Date</U>&rdquo;). Upon the </P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certification Date, the applicable portion of the Target PRSUs determined by the Payout Percentage (as
defined in the Performance Matrix) as a percentage of the Target PRSUs shall be calculated and shall vest, subject to the Executive&rsquo;s
continuous employment with Sirius XM Radio Inc. or any of its subsidiaries or affiliates (&ldquo;<U>Sirius XM</U>&rdquo;) through
the last day of the Performance Period (except as otherwise set forth herein) (such PRSUs, the &ldquo;<U>Vested Units</U>&rdquo;).
On the Certification Date, any PRSUS which do not become Vested Units in accordance with the immediately preceding sentence shall
immediately be forfeited and cancelled, and the Executive shall not be entitled to any compensation or other amount with respect
thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(c) <I>Issuance of Vested
Units</I>. Subject to the terms of this Agreement and/or the Plan, the Company shall issue, or cause there to be transferred. to
the Executive on the first business day following the Certification Date, subject to the Executive&rsquo;s continuous service with
Sirius XM on the last day of the Performance Period, a number of Shares equal to the number of Vested Units. In no event shall
the Shares issued hereunder be issued later than the March 15th following the end of the Performance Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(d) <I>Termination</I>.
Except as otherwise set forth herein, if the Executive&rsquo;s employment with Sirius XM terminates for any reason prior to the
last day of the Performance Period, then all of the PRSUs shall immediately terminate without consideration. Notwithstanding the
foregoing, if the Executive&rsquo;s employment with Sirius XM is terminated prior to December 31, 2023 (x) due to death or &ldquo;<U>Disability</U>&rdquo;
(as defined in the Employment Agreement), (y) by Sirius XM without &ldquo;<U>Cause</U>&rdquo; (as defined in the Employment Agreement),
or (z) by the Executive for &ldquo;<U>Good Reason</U>&rdquo; (as defined in the Employment Agreement), then the Target PRSUs, to
the extent not previously settled, cancelled or forfeited, shall, subject to the second to last sentence of this Section 3(d),
immediately become vested and the Company shall issue, or cause there to be transferred, to the Executive, on the sixtieth day
following such termination of employment, the amount of Shares equal to the number of Target PRSUs granted to the Executive under
this Agreement, and as adjusted pursuant to Section 2 above, if applicable. In no event shall such Target PRSUs be issued or transferred
later than the March 15<SUP>th</SUP> following the year of the Executive&rsquo;s termination of employment. In the event the Executive&rsquo;s
employment with Sirius XM terminates due to death or Disability, by Sirius XM without Cause or by the Executive for Good Reason,
the condition in Section 3(c) that the Executive be an employee of Sirius XM shall be waived; <U>provided</U> that the Executive
executes a release in accordance with Section 6(g) of the Employment Agreement (except that the Company&rsquo;s General Counsel
may waive such requirement in the case of the Executive&rsquo;s death). Notwithstanding anything herein to the contrary, if the
Executive&rsquo;s employment terminates for any reason on or after December 31, 2023, the Executive shall, without any requirement
of executing a release, receive the Vested Units in accordance with, and at the time provided, in Section 3(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">4. <U>Change of Control</U>.
Notwithstanding the foregoing provisions, in the event of a Change of Control, the PRSUs shall be governed by the terms of the
Plan; <U>provided</U> that any transactions between the Company, Sirius XM and/or any of their respective wholly-owned subsidiaries,
on the one hand, and Liberty Media Corporation, any Qualified Distribution Transferee (as defined in the Investment Agreement,
dated as of February 17, 2009, between the Company and Liberty Radio LLC, as amended) and/or any of their respective wholly-owned
subsidiaries, on the other hand, shall not constitute a Change of Control under the Plan.</P>
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%"><PAGE></PAGE></TD><TD STYLE="text-align: right; width: 50%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">5. <U>Non-transferable</U>.
The PRSUs may not be transferred, assigned, pledged or hypothecated in any manner (whether by operation of law or otherwise), other
than by will or by the applicable laws of descent and distribution, and shall not be subject to execution, attachment or similar
process. Any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of PRSUs or of any right or privilege conferred
hereby shall be null and void. In the event of the Executive&rsquo;s death, any amounts owed to the Executive hereunder shall instead
be paid to the Executive&rsquo;s designated beneficiary (or, if none, to the Executive&rsquo;s estate).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6. <U>Withholding</U>.
Prior to delivery of the Shares pursuant to this Agreement, the Company shall determine the amount of any United States federal,
state and local income taxes, if any, which are required to be withheld under applicable law and shall, as a condition of delivery
of the Shares pursuant to this Agreement, collect from the Executive the amount of any such tax to the extent not previously withheld
in any manner permitted by the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">7. <U>No Rights of a
Stockholder</U>. The Executive shall not have any rights as a stockholder of the Company with respect to any Shares until the Shares
have been issued. Once a PRSU vests and a Share is issued to the Executive pursuant to Section 3, such PRSU is no longer considered
a PRSU for purposes of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">8. <U>Rights of the
Executive</U>. Neither this Agreement nor the PRSUs shall confer upon the Executive any right to, or guarantee of, continued employment
by or service with Sirius XM, or in any way limit the right of Sirius XM to terminate the employment or service of the Executive
at any time, subject to the terms of any written employment or similar written agreement between the Executive and Sirius XM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">9. <U>Professional Advice</U>.
The acceptance of the PRSUs may have consequences under federal and state tax and securities laws that may vary depending upon
the individual circumstances of the Executive. Accordingly, the Executive acknowledges that the Executive has been advised to consult
the Executive&rsquo;s personal legal and tax advisors in connection with this Agreement and the PRSUs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">10. <U>Agreement Subject
to the Plan</U>. This Agreement and the PRSUs are subject to the terms and conditions set forth in the Plan, which terms and conditions
are incorporated herein by reference. Capitalized terms used herein but not otherwise defined shall have the meanings set forth
in the Plan. The Executive acknowledges that a copy of the Plan is posted on Sirius XM&rsquo;s intranet site and the Executive
agrees to review it and comply with its terms. This Agreement, the Employment Agreement and the Plan constitute the entire understanding
between or among the Company, Sirius XM and the Executive with respect to the PRSUs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">11. <U>Governing Law</U>.
This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, and shall bind and inure
to the benefit of the heirs, executors, personal representatives, successors and assigns of the parties hereto. Any disputes arising
from or relating to this Agreement shall be subject to arbitration pursuant to Section 20 of the Employment Agreement.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">12. <U>Notices</U>.
All notices and other communications hereunder shall be in writing and shall be deemed given when delivered personally or when
telecopied (with confirmation of transmission received by the sender), three (3) business days after being sent by certified mail,
postage prepaid, return receipt requested or one (1) business day after being delivered to a nationally recognized overnight courier
with next day delivery specified to the parties at the following addresses (or at such other address for a party as shall be specified
by like notice):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 15%; text-align: justify">&nbsp;</td>
    <TD STYLE="width: 15%; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Company:</font></td>
    <TD STYLE="width: 70%; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Sirius XM Holdings Inc.</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif">1221 Avenue of the Americas</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif">35<sup>th</sup> Floor</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif">New York, New York 10020</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Attention:&nbsp;&nbsp;General Counsel</font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Executive:</font></td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Address on file at the </font></td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif">office of Sirius XM</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notices sent by email or other electronic
means not specifically authorized by this Agreement shall not be effective for any purpose of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">13. <U>Binding Effect</U>.
This Agreement constitutes the legal, valid and binding obligation of the Company enforceable against the Company in accordance
with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">14. <U>Amendment</U>.
The rights of the Executive hereunder may not be impaired by any amendment, alteration, suspension, discontinuance or termination
of the Plan or this Agreement without the Executive&rsquo;s consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">15. <U>Section 409A</U>.
This Award Agreement and the PRSUs granted hereunder are intended to be exempt from Section 409A of the Code and the rules and
regulations thereunder such as to avoid any additional taxation under the Section 409A of the Code. Any ambiguity herein shall
be interpreted in accordance with the foregoing.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">IN WITNESS WHEREOF,
the undersigned have executed this Agreement as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SIRIUS XM HOLDINGS INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD STYLE="vertical-align: bottom; width: 3%"><font style="font-family: Times New Roman, Times, Serif">By:</font></td>
    <TD STYLE="vertical-align: bottom; width: 45%; border-bottom: Black 1px solid"><font style="font-family: Times New Roman, Times, Serif">Exhibit C-2</font></td>
    <TD STYLE="vertical-align: top; width: 4%"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD STYLE="vertical-align: bottom; width: 48%; border-bottom: Black 1px solid"><font style="font-family: Times New Roman, Times, Serif">Exhibit C-2</font></td></tr>
<tr>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif">Dara Altman</font></td>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif">JENNIFER C. WITZ</font></td></tr>
<tr>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif">Executive Vice President and</font></td>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif">Chief Administrative Officer</font></td>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td></tr>
</table>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Annex A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Performance Matrix</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><U>Target Award</U>: Participant&rsquo;s
overall target-level award hereunder is equal to 812,612 PRSUs (the &ldquo;<U>Target PRSUs</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The &ldquo;<U>Performance Period</U>&rdquo;
shall be January 1, 2021 through December 31, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The &ldquo;<U>Performance Metric</U>&rdquo;
shall be the three-year total shareholder return (&ldquo;<U>TSR</U>&rdquo;) of the Company relative to the other entities in the
TSR Index (as defined below). Achievement of the Performance Metric shall be determined by the percentile rank of the Company&rsquo;s
TSR relative to the TSR of each other entity in the TSR Index.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><U>Determination of TSR</U>: <FONT STYLE="color: black">TSR
for the Company and each other entity in the TSR Index shall be determined in accordance with the following formula. TSR shall
be equal to (a) divided by (b) minus (c), expressed as a percentage, where:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(a) is equal to the product of (i) and (ii),
where (i) is the Ending Price and (ii) is the Reinvestment Factor;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(b) is equal to the
Starting Price; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(c) is equal to one.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">For purposes of determining TSR:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;<U>Starting Price</U>&rdquo; means
the average closing price of one share of common stock on the applicable stock exchange during the twenty (20) trading days immediately
preceding and including the first day of the Performance Period. The Starting Price for a Share of the Company is $6.3795.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;<U>Ending Price</U>&rdquo; means the
average closing price of one share of common stock on the applicable stock exchange during the twenty (20) trading days immediately
preceding and including the last day of the Performance Period; <U>provided</U> that, in the case of a Change of Control, the Ending
Price for the Company shall be the fair market value of a Share immediately prior to the Change of Control, and the Ending Price
for all other companies shall be the average closing price of one share of common stock on the applicable stock exchange during
the twenty (20) trading days immediately preceding the date of the Change of Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;<U>Reinvestment Factor</U>&rdquo;
means the Total Share Count at the end of the Performance Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;<U>Total Share Count</U>&rdquo; equals
one share of the Company&rsquo;s common stock on the first day of the Performance Period, which is adjusted cumulatively for any
dividends declared over the </P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%"><PAGE></PAGE></TD><TD STYLE="text-align: right; width: 50%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Performance Period. The adjustment for each dividend declaration shall increase the Total Share Count
by an amount calculated as the sum of (x) and (y), where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(x) equals the Current Total Share Count;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(y) equals the calculated result of (i) multiplied
by (ii) and divided by (iii), where (i) is the Current Total Share Count, (ii) is the dollar value of the declared dividend, and
(iii) is the closing price of the company&rsquo;s Common stock on the payment date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;<U>Current Total Share Count</U>&rdquo;
means the Total Share Count before each dividend adjustment, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The Company&rsquo;s &ldquo;<U>Rank</U>&rdquo;
shall be determined by the Company&rsquo;s position within the ranking of each entity in the TSR Index (including the Company)
in descending order based on their respective TSRs (with the highest TSR having a Rank of one). For purposes of developing the
ordering provided in the immediately-preceding sentence, (A) any entity that filed for bankruptcy protection under the United States
Bankruptcy Code during the Performance Period shall be assigned the lowest order of any entity in the TSR Index such that such
entity&rsquo;s TSR is fixed at -100%, (B) any entity that is acquired during the Performance Period, or otherwise no longer listed
on a national securities exchange at the end of the Performance Period (other than the Company), shall be removed from the TSR
Index and shall be excluded for purposes of ordering the entities in the TSR Index (and for purposes of calculating the Company&rsquo;s
Percentile), and (C) any entity that has issued multiples classes of stock that are contained in the TSR Index shall be aggregated
and considered one entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">After determining the Company&rsquo;s Rank,
the Company&rsquo;s &ldquo;<U>Percentile</U>&rdquo; will be calculated as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><IMG SRC="x1_c101199a001.jpg" ALT="" STYLE="width: 70px; height: 33px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;P&rdquo; represents the Percentile
which will be rounded, if necessary, to the nearest whole percentile by application of regular rounding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;N&rdquo; represents the total number
of entities in the TSR Index (including the Company, but after removal of any entities in accordance with the calculation of the
Rank).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;R&rdquo; represents Company&rsquo;s
Rank (as determined above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The &ldquo;<U>Payout Percentage</U>&rdquo;
shall be determined as follows, subject to the exception below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-family: Symbol">&#183; </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Threshold
Performance: If the Company&rsquo;s Percentile equals 25%, the Payout Percentage shall be 50% of the Target PRSUs. The Payout Percentage
shall equal zero if the Company Percentile is less than 25%.</FONT></P>
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%"><PAGE></PAGE></TD><TD STYLE="text-align: right; width: 50%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-family: Symbol">&#183;&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Target
Performance: If the Company&rsquo;s Percentile equals 50%, the Payout Percentage shall be 100% of the Target PRSUs.</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-family: Symbol">&#183; </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Maximum
Performance: If the Company&rsquo;s Percentile equals or exceeds 75%, the Payout Percentage shall be 150% of the Target PRSUs.</FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">Straight-line interpolation shall be used
to determine the Payout Percentage for any Company Percentile between 25% and 75%, based upon the Payout Percentages set forth
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The following exception exists with respect
to the Payout Percentage determination set forth above: If the Company&rsquo;s absolute TSR (irrespective of its Rank or Percentile)
is less than 0%, then the Payout Percentage shall not exceed 100% of the Target PRSUs (subject to adjustment as set forth in Section
2 of the Agreement, if applicable).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">In addition to the Company, the &ldquo;<U>TSR
Index</U>&rdquo; shall be comprised of the companies in the S&amp;P 500 Index as in effect on the first day of the Performance
Period (subject to adjustment as set forth in the definition of Rank above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The Compensation Committee of the Board of
Directors shall be permitted to adjust or modify the calculations set forth above as it deems appropriate, including pursuant to
any adjustments under Sections 4(b) and 12(c) of the Plan.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 10.2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FIRST AMENDMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">FIRST AMENDMENT, dated as of February 16,
2021 (this &ldquo;<U>First Amendment</U>&rdquo;), to the Employment Agreement, dated as of September 14, 2020 (the &ldquo;<U>Agreement</U>&rdquo;),
between SIRIUS XM RADIO INC., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and SEAN S. SULLIVAN (the &ldquo;<U>Executive</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>WITNESSETH</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">WHEREAS, the Company and the Executive jointly
desire to amend certain provisions of the Agreement in the manner provided for in this First Amendment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">1. <U>PRSU Agreements</U>. the Executive
and the Company agree that Performance&ndash;Based Restricted Stock Unit Agreement attached to the Agreement as Exhibit C shall
be deleted and replaced with Performance&ndash;Based Restricted Stock Unit Agreement attached to this First Amendment as Exhibit
C-1 and the Performance&ndash;Based Restricted Stock Unit Agreement (Relative TSR) attached to this First Amendment as Exhibit
C-2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">2. <U>No Other Amendments</U>. Except as
expressly amended, modified and supplemented by this First Amendment, the provisions of the Agreement are and shall remain in full
force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">3. <U>Governing Law</U>. This First Amendment
shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 36pt"><FONT STYLE="font-weight: normal">4.
<U>Counterparts</U>. This First Amendment may be executed in counterparts, all 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 party.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">5. <U>Entire Agreement</U>. This First Amendment
represents the entire agreement of the Company and the Executive with respect to the subject matter hereof, and there are no promises,
undertakings, representations or warranties by the parties hereto relative to the subject matter hereof not expressly set forth
or referred to herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">6. <U>No &ldquo;Good Reason&rdquo;</U>. The
Executive acknowledges and agrees that neither the execution nor implementation of this First Amendment shall give rise to any
claim for &ldquo;Good Reason&rdquo; by the Executive under the Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">IN WITNESS WHEREOF, the parties hereto have
caused this First Amendment to be duly executed and delivered by their proper and duly authorized officers as of the day and year
first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">SIRIUS XM RADIO INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="width: 36%; border-bottom: Black 1px solid">/s/ Dara F. Altman</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: normal">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: normal; padding-left: 13pt"><FONT STYLE="font-size: 10pt">Dara F. Altman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 13pt">Executive Vice President, </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 13pt">Chief Administrative Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid">/s/ Sean S. Sullivan</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 13pt">SEAN S. SULLIVAN</TD></TR>
</TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%"><PAGE></PAGE></TD><TD STYLE="text-align: right; width: 50%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Exhibit C-1</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIRIUS XM HOLDINGS INC.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">2015 LONG-TERM STOCK INCENTIVE PLAN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PERFORMANCE-BASED RESTRICTED STOCK UNIT
AGREEMENT</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(FREE CASH FLOW)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">This PERFORMANCE-BASED RESTRICTED STOCK UNIT
AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;), dated February 16, 2021, is between SIRIUS XM HOLDINGS INC., a Delaware corporation
(the &ldquo;<U>Company</U>&rdquo;), and SEAN S. SULLIVAN (the &ldquo;<U>Executive</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">1. <U>Grant of PRSUs</U>. Subject to the
terms and conditions of this Agreement, the Sirius XM Holdings Inc. 2015 Long-Term Stock Incentive Plan (the &ldquo;<U>Plan</U>&rdquo;),
and the Employment Agreement dated as of September 14, 2020 between Sirius XM Radio Inc. (&ldquo;<U>Sirius XM</U>&rdquo;) and the
Executive (as amended, the &ldquo;<U>Employment Agreement</U>&rdquo;), the Company hereby grants 381,663 performance-based restricted
stock units (&ldquo;<U>PRSUs</U>&rdquo;) to the Executive. Each PRSU represents the unfunded, unsecured right of the Executive
to receive one share of common stock, par value $0.001 per share, of the Company (each, a &ldquo;<U>Share</U>&rdquo;) on the date
specified in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">2. <U>Dividends</U>. If on any date while
PRSUs are outstanding the Company shall pay any dividend on the Shares (other than a dividend payable in Shares), the number of
PRSUs granted to the Executive shall, as of the record date for such dividend payment, be increased by a number of PRSUs equal
to: (a) the product of (x) the number of PRSUs held by the Executive as of such record date, multiplied by (y) the per Share amount
of any cash dividend (or, in the case of any dividend payable, in whole or in part, other than in cash, the per Share value of
such dividend, as determined in good faith by the Company), divided by (b) the average closing price of a Share on the Nasdaq Global
Select Market on the twenty (20) trading days preceding, but not including, such record date. In the case of any dividend declared
on Shares that is payable in the form of Shares, the number of PRSUs granted to the Executive shall be increased by a number equal
to the product of (1) the aggregate number of PRSUs held by the Executive on the record date for such dividend, multiplied by (2)
the number of Shares (including any fraction thereof) payable as a dividend on a Share. In the case of any other change in the
Shares occurring after the date hereof, the number of PRSUs shall be adjusted as set forth in Section 4(b) of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">3. <U>No Rights of a Stockholder</U>. The
Executive shall not have any rights as a stockholder of the Company until the Shares have been issued. Once a PRSU vests and a
Share is issued to the Executive pursuant to Sections 4 and 5, such PRSU is no longer considered a PRSU for purposes of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">4. <U>Issuance of Shares Subject to PRSUs</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(a) <I>Performance Metric</I>. The PRSUs
shall be eligible to vest based on the Company&rsquo;s level of achievement of cumulative free cash flow as set forth in the budgets
(the &ldquo;<U>Performance Metric Target</U>&rdquo;) approved by the Company&rsquo;s Board of Directors (the &ldquo;<U>Board</U>&rdquo;)
for the years ending December 31, 2021 and December 31, 2022 (together, the &ldquo;<U>Performance Period</U>&rdquo;). The</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">annual free cash flow component for each of 2021 and 2022 of
the Performance Metric Target shall be set at the time such applicable budget is approved by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">Free cash flow shall be derived from cash
flow provided by operating activities, net of additions to property and equipment, restricted and other investment activity and
the return of capital from investment in unconsolidated entities. The Compensation Committee of the Board shall adjust or modify
the calculation of free cash flow and/or the Performance Metric Target for the Performance Period in accordance with Sections 4(b)
and 12(c) of the Plan, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The Performance Metric Target for each of
the years ending December 31, 2021 and 2022 shall be reasonable in light of the Company&rsquo;s business plan and budget for the
applicable year and other factors affecting the Company&rsquo;s business taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(b) <I>Calculation of Shares to be Issued</I>.
No later than sixty (60) days following the end of the Performance Period, the Company shall certify the Company&rsquo;s level
of achievement of the Performance Metric Target (such actual date of certification, the &ldquo;<U>Certification Date</U>&rdquo;)
and determine the number of PRSUs that shall remain eligible to vest, as set forth below, in accordance with the terms of the Plan
and/or this Agreement (such PRSUs, the &ldquo;<U>Eligible PRSUs</U>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 72pt">(i) If the Company fails to achieve
at least 80% of the Performance Metric Target, 0% of the PRSUs shall constitute Eligible PRSUs;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 72pt">(ii) Upon achieving 100% or more
of the Performance Metric Target, 100% of the PRSUs shall constitute Eligible PRSUs; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 72pt">(iii) If the Company&rsquo;s achievement
of the Performance Metric Target falls between 80% and 100% of the Performance Metric Target, the number of PRSUs that become Eligible
PRSUs shall be determined by straight line interpolation between the thresholds set forth in subsections (i) and (ii) of this Section
4(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The payout scale set forth above may be modified
in order to increase (but not decrease) the percentage of PRSUs that vest hereunder. Any PRSUs that do not constitute Eligible
PRSUs as of the Certification Date shall be cancelled on the Certification Date. Except as otherwise provided in Section 5, in
order to receive the Eligible PRSUs, the Executive must be employed by Sirius XM on October 26, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(c) <I>Issuance of Eligible PRSUs</I>. Subject
to earlier issuance pursuant to the terms of this Agreement or the Plan, on October 26, 2023, the Company shall issue, or cause
there to be transferred, to the Executive an amount of Shares representing the Eligible PRSUs (as adjusted pursuant to Section
2 above, if applicable); <U>provided</U> that the Executive continues to be employed by Sirius XM on October 26, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">5. <U>Termination of Employment</U>. (a)
If the Executive&rsquo;s employment with Sirius XM terminates for any reason, then the PRSUs shall immediately terminate without
consideration; <U>provided</U> that if the Executive&rsquo;s employment with Sirius XM is terminated (x) due to death or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<U>Disability</U>&rdquo; (as defined in the Employment
Agreement), (y) by Sirius XM without &ldquo;<U>Cause</U>&rdquo; (as defined in the Employment Agreement), or (z) by the Executive
for &ldquo;<U>Good Reason</U>&rdquo; (as defined in the Employment Agreement) (any such applicable date of termination, the &ldquo;<U>PRSU
Termination Date</U>&rdquo;), then the PRSUs shall be treated in the following manner:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 72pt">(i) if the PRSU Termination Date
occurs on or prior to the end of the Performance Period, or if the PRSU Termination Date occurs prior to the establishment of the
Performance Metric Target for the Performance Period, then the PRSUs granted to the Executive under this Agreement, to the extent
not previously settled, cancelled or forfeited, shall, subject to Section 5(b), immediately become vested and the Company shall
issue, or cause there to be transferred, to the Executive the amount of Shares equal to the number of PRSUs granted to the Executive
under this Agreement, notwithstanding Section 4(b), and as adjusted pursuant to Section 2 above, if applicable; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 72pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 72pt">(ii) if the PRSU Termination Date
occurs after the last day of the Performance Period, all Eligible PRSUs, to the extent not previously settled, cancelled or forfeited,
shall, subject to Section 5(b), immediately (or, if later, on the Certification Date) become vested and the Company shall issue,
or cause there to be transferred, to the Executive the amount of Shares equal to the number of Eligible PRSUs earned pursuant to
Section 4(b), as adjusted pursuant to Section 2 above, if applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 72pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(b) In the event the Executive&rsquo;s employment
with Sirius XM terminates due to death or Disability, by Sirius XM without Cause or by the Executive for Good Reason, the condition
in Section 4(c) that the Executive be an employee of Sirius XM shall be waived in order to give effect to the foregoing Section
5(a); <U>provided</U> that the Executive executes a release in accordance with Section 6(g) of the Employment Agreement (except
that the Company&rsquo;s General Counsel may waive such requirement in the case of the Executive&rsquo;s death).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(c) The Company shall issue, or cause there
to be transferred, to the Executive an amount of Shares representing the Eligible PRSUs (as adjusted pursuant to Section 2 above,
if applicable) as provided in Section 5(a)(i) or (ii), as applicable, on the 60<SUP>th</SUP> day following the Executive&rsquo;s
termination of employment, but in no event later than March 15<SUP>th</SUP> of the year following the year of such termination
of employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">6. <U>Change of Control</U>. In the event
of a Change of Control, the PRSUs shall be governed by the terms of the Plan; <U>provided</U> that any transactions between the
Company, Sirius XM and/or any of their respective wholly-owned subsidiaries, on the one hand, and Liberty Media Corporation, any
Qualified Distribution Transferee (as defined in the Investment Agreement, dated as of February 17, 2009, between the Company and
Liberty Radio LLC, as amended) and/or any of their respective wholly-owned subsidiaries, on the other hand, shall not constitute
a Change of Control under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">7. <U>Non-transferable</U>. The PRSUs may
not be transferred, assigned, pledged or hypothecated in any manner (whether by operation of law or otherwise) other than by will
or by the applicable laws of descent and distribution, and shall not be subject to execution, attachment or similar process. Any
attempt to transfer, assign, pledge, hypothecate or otherwise dispose of PRSUs or of any right or privilege conferred hereby shall
be null and void. In the event of the</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Executive&rsquo;s death, any amounts owed to the Executive hereunder
shall instead be paid to the Executive&rsquo;s designated beneficiary (or, if none, to the Executive&rsquo;s estate).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">8. <U>Withholding</U>. Prior to delivery
of the Shares pursuant to this Agreement, the Company shall determine the amount of any United States federal, state and local
income taxes, if any, which are required to be withheld under applicable law and shall, as a condition of delivery of the Shares
pursuant to this Agreement, collect from the Executive the amount of any such tax to the extent not previously withheld in any
manner permitted by the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">9. <U>Rights of the Executive</U>. Neither
this Agreement nor the PRSUs shall confer upon the Executive any right to, or guarantee of, continued employment by Sirius XM or
any of its subsidiaries or affiliates, or in any way limit the right of Sirius XM or any of its subsidiaries or affiliates to terminate
the employment of the Executive at any time, subject to the terms of the Employment Agreement, or any other written employment
or similar written agreement between or among the Company, Sirius XM or any of their subsidiaries or affiliates, and the Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">10. <U>Professional Advice</U>. The acceptance
of the PRSUs may have consequences under federal and state tax and securities laws that may vary depending upon the individual
circumstances of the Executive. Accordingly, the Executive acknowledges that the Executive has been advised to consult the Executive&rsquo;s
personal legal and tax advisors in connection with this Agreement and the PRSUs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">11. <U>Agreement Subject to the Plan</U>.
This Agreement and the PRSUs are subject to the terms and conditions set forth in the Plan, which terms and conditions are incorporated
herein by reference. Capitalized terms used herein but not otherwise defined shall have the same meaning as in the Plan. The Executive
acknowledges that a copy of the Plan is posted on Sirius XM&rsquo;s intranet site and the Executive agrees to review it and comply
with its terms. This Agreement, the Employment Agreement and the Plan constitute the entire understanding between or among the
Company, Sirius XM and the Executive with respect to the PRSUs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">12. <U>Governing Law</U>. This Agreement
shall be governed by, and construed in accordance with, the laws of the State of New York, and shall bind and inure to the benefit
of the heirs, executors, personal representatives, successors and assigns of the parties hereto. Any disputes arising from or relating
to this Agreement shall be subject to arbitration pursuant to Section 20 of the Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">13. <U>Notices</U>. All notices and other
communications hereunder shall be in writing and shall be deemed given when delivered personally or when telecopied (with confirmation
of transmission received by the sender), three (3) business days after being sent by certified mail, postage prepaid, return receipt
requested or one (1) business day after being delivered to a nationally recognized overnight courier with next day delivery specified
to the parties at the following addresses (or at such other address for a party as shall be specified by like notice):</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%"><PAGE></PAGE></TD><TD STYLE="text-align: right; width: 50%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 20%">Company:</TD>
    <TD STYLE="width: 70%">Sirius XM Holdings Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>1221 Avenue of the Americas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>35<SUP>th</SUP> Floor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>New York, New York 10020</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Attention:&nbsp;&nbsp;General Counsel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Executive:</TD>
    <TD>Address on file at the</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>office of the Company</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notices sent by email or other electronic means not specifically
authorized by this Agreement shall not be effective for any purpose of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">14. <U>Binding Effect</U>. This Agreement
has been duly executed and delivered by the Company and constitutes the legal, valid and binding obligation of the Company enforceable
against the Company in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">15. <U>Amendment</U>. The rights of the Executive
hereunder may not be impaired by any amendment, alteration, suspension, discontinuance or termination of the Plan or this Agreement
without the Executive&rsquo;s consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">16. <U>Section 409A</U>. This Agreement and
the PRSUs granted hereunder are intended to be exempt from Section 409A of the Code and the rules and regulations thereunder such
as to avoid any additional taxation under the Section 409A of the Code. Any ambiguity herein shall be interpreted in accordance
with the foregoing.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">IN WITNESS WHEREOF, the undersigned have
executed this Agreement as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SIRIUS XM HOLDINGS INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">By:&nbsp;</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1px solid">Exhibit C-1</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 48%; border-bottom: Black 1px solid">Exhibit C-1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Dara Altman</TD>
    <TD>&nbsp;</TD>
    <TD>SEAN S. SULLIVAN</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Executive Vice President and</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Chief Administrative Officer</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%"><PAGE></PAGE></TD><TD STYLE="text-align: right; width: 50%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Exhibit C-2</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIRIUS XM HOLDINGS INC.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">2015 LONG-TERM STOCK INCENTIVE PLAN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PERFORMANCE-BASED RESTRICTED STOCK UNIT
AGREEMENT</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(RELATIVE TSR)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">This PERFORMANCE-BASED RESTRICTED STOCK UNIT
AGREEMENT (RELATIVE TSR) (this &ldquo;<U>Agreement</U>&rdquo;), dated February 16, 2021, is between SIRIUS XM HOLDINGS INC., a
Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and SEAN S. SULLIVAN (the &ldquo;<U>Executive</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">1. <U>Grant of PRSUs</U>. Subject to the
terms and conditions of this Agreement, the Sirius XM Holdings Inc. 2015 Long-Term Stock Incentive Plan (the &ldquo;<U>Plan</U>&rdquo;)
and the Employment Agreement dated as of September 14, 2020 between Sirius XM Radio Inc. and the Executive (the &ldquo;<U>Employment
Agreement</U>&rdquo;), the Company hereby grants 381,663 performance-based restricted stock units (&ldquo;<U>PRSUs</U>&rdquo;)
to the Executive, representing the target number of PRSUs eligible to be earned under this Agreement (the &ldquo;<U>Target PRSUs</U>&rdquo;).
Each PRSU represents the unfunded, unsecured right of the Executive to receive one share of common stock, par value $0.001 per
share, of the Company (each, a &ldquo;<U>Share</U>&rdquo;) on the date specified in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2. <U>Dividends</U>. If on any date while
PRSUs are outstanding the Company shall pay any dividend on the Shares (other than a dividend payable in Shares), the number of
PRSUs granted to the Executive shall, as of the record date for such dividend payment, be increased by a number of PRSUs equal
to: (a) the product of (x) the number of PRSUs held by the Executive as of such record date, multiplied by (y) the per Share amount
of any cash dividend (or, in the case of any dividend payable, in whole or in part, other than in cash, the per Share value of
such dividend, as determined in good faith by the Company), divided by (b) the average closing price of a Share on the Nasdaq Global
Select Market on the twenty (20) trading days preceding, but not including, such record date. In the case of any dividend declared
on Shares that is payable in the form of Shares, the number of PRSUs granted to the Executive shall be increased by a number equal
to the product of (1) the aggregate number of PRSUs held by the Executive on the record date for such dividend, multiplied by (2)
the number of Shares (including any fraction thereof) payable as a dividend on a Share. In the case of any other change in the
Shares occurring after the date hereof, the number of PRSUs shall be adjusted as set forth in Section 4(b) of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">3. <U>Issuance of Shares subject to PRSUs</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(a) <I>Performance Metric</I>. All or a portion
of the PRSUs shall be eligible to vest based on the Company&rsquo;s level of achievement of the Performance Metric set forth on
the Performance Matrix attached hereto as <U>Annex A</U> (the &ldquo;<U>Performance Matrix</U>&rdquo;), subject to the terms set
forth therein and herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(b) <I>Calculation of Shares to be Issued</I>.
No later than sixty (60) days following the end of the Performance Period, the Company shall certify the Company&rsquo;s level
of achievement of the Performance Metric (such actual date of certification, the &ldquo;<U>Certification Date</U>&rdquo;). Upon
the</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certification Date, the applicable portion of the Target PRSUs
determined by the Payout Percentage (as defined in the Performance Matrix) as a percentage of the Target PRSUs shall be calculated
and shall vest, subject to the Executive&rsquo;s continuous employment with Sirius XM Radio Inc. or any of its subsidiaries or
affiliates (&ldquo;<U>Sirius XM</U>&rdquo;) through October 26, 2023 (except as otherwise set forth herein) (such PRSUs, the &ldquo;<U>Vested
Units</U>&rdquo;). On the Certification Date, any PRSUS which do not become Vested Units in accordance with the immediately preceding
sentence shall immediately be forfeited and cancelled, and the Executive shall not be entitled to any compensation or other amount
with respect thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(c) <I>Issuance of Vested Units</I>. Subject
to the terms of this Agreement and/or the Plan, the Company shall issue, or cause there to be transferred, to the Executive on
the first business day following the Certification Date, subject to the Executive&rsquo;s continuous service with Sirius XM on
October 26, 2023, a number of Shares equal to the number of Vested Units. In no event shall the Shares issued hereunder be issued
later than the March 15<SUP>th</SUP> following the end of the Performance Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(d) <I>Termination</I>. Except as otherwise
set forth herein, if the Executive&rsquo;s employment with Sirius XM terminates for any reason prior to October 26, 2023, then
all of the PRSUs shall immediately terminate without consideration. Notwithstanding the foregoing, if the Executive&rsquo;s employment
with Sirius XM is terminated prior to October 26, 2023 (x) due to death or &ldquo;Disability&rdquo; (as defined in the Employment
Agreement), (y) by Sirius XM without &ldquo;Cause&rdquo; (as defined in the Employment Agreement), or (z) by the Executive for
&ldquo;Good Reason&rdquo; (as defined in the Employment Agreement), then the Target PRSUs, to the extent not previously settled,
cancelled or forfeited, shall, subject to the second to last sentence of this Section 3(d), immediately become vested and the Company
shall issue, or cause there to be transferred, to the Executive, on the sixtieth day following such termination of employment,
the amount of Shares equal to the number of Target PRSUs granted to the Executive under this Agreement, and as adjusted pursuant
to Section 2 above, if applicable. In no event shall such Target PRSUs be issued or transferred later than the March 15<SUP>th</SUP>
following the year of the Executive&rsquo;s termination of employment. In the event the Executive&rsquo;s employment with Sirius
XM terminates due to death or Disability, by Sirius XM without Cause or by the Executive for Good Reason, the condition in Section
3(c) that the Executive be an employee of Sirius XM shall be waived; provided that the Executive executes a release in accordance
with Section 6(g) of the Employment Agreement (except that the Company&rsquo;s General Counsel may waive such requirement in the
case of the Executive&rsquo;s death). Notwithstanding anything herein to the contrary, if the Executive&rsquo;s employment terminates
for any reason on or after October 26, 2023, the Executive shall, without any requirement of executing a release, receive the Vested
Units in accordance with, and at the time provided, in Section 3(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">4. <U>Change of Control</U>. Notwithstanding
the foregoing provisions, in the event of a Change of Control, the PRSUs shall be governed by the terms of the Plan; <U>provided</U>
that any transactions between the Company, Sirius XM and/or any of their respective wholly-owned subsidiaries, on the one hand,
and Liberty Media Corporation, any Qualified Distribution Transferee (as defined in the Investment Agreement, dated as of February
17, 2009, between the Company and Liberty Radio LLC, as amended) and/or any of their respective wholly-owned subsidiaries, on the
other hand, shall not constitute a Change of Control under the Plan.</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">5. <U>Non-transferable</U>. The PRSUs may
not be transferred, assigned, pledged or hypothecated in any manner (whether by operation of law or otherwise), other than by will
or by the applicable laws of descent and distribution, and shall not be subject to execution, attachment or similar process. Any
attempt to transfer, assign, pledge, hypothecate or otherwise dispose of PRSUs or of any right or privilege conferred hereby shall
be null and void. In the event of the Executive&rsquo;s death, any amounts owed to the Executive hereunder shall instead be paid
to the Executive&rsquo;s designated beneficiary (or, if none, to the Executive&rsquo;s estate).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">6. <U>Withholding</U>. Prior to delivery
of the Shares pursuant to this Agreement, the Company shall determine the amount of any United States federal, state and local
income taxes, if any, which are required to be withheld under applicable law and shall, as a condition of delivery of the Shares
pursuant to this Agreement, collect from the Executive the amount of any such tax to the extent not previously withheld in any
manner permitted by the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">7. <U>No Rights of a Stockholder</U>. The
Executive shall not have any rights as a stockholder of the Company with respect to any Shares until the Shares have been issued.
Once a PRSU vests and a Share is issued to the Executive pursuant to Section 3, such PRSU is no longer considered a PRSU for purposes
of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">8. <U>Rights of the Executive</U>. Neither
this Agreement nor the PRSUs shall confer upon the Executive any right to, or guarantee of, continued employment by or service
with Sirius XM, or in any way limit the right of Sirius XM to terminate the employment or service of the Executive at any time,
subject to the terms of any written employment or similar written agreement between the Executive and Sirius XM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">9. <U>Professional Advice</U>. The acceptance
of the PRSUs may have consequences under federal and state tax and securities laws that may vary depending upon the individual
circumstances of the Executive. Accordingly, the Executive acknowledges that the Executive has been advised to consult the Executive&rsquo;s
personal legal and tax advisors in connection with this Agreement and the PRSUs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">10. <U>Agreement Subject to the Plan</U>.
This Agreement and the PRSUs are subject to the terms and conditions set forth in the Plan, which terms and conditions are incorporated
herein by reference. Capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Plan. The
Executive acknowledges that a copy of the Plan is posted on Sirius XM&rsquo;s intranet site and the Executive agrees to review
it and comply with its terms. This Agreement, the Employment Agreement and the Plan constitute the entire understanding between
or among the Company, Sirius XM and the Executive with respect to the PRSUs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">11. <U>Governing Law</U>. This Agreement
shall be governed by, and construed in accordance with, the laws of the State of New York, and shall bind and inure to the benefit
of the heirs, executors, personal representatives, successors and assigns of the parties hereto. Any disputes arising from or relating
to this Agreement shall be subject to arbitration pursuant to Section 20 of the Employment Agreement.</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%"><PAGE></PAGE></TD><TD STYLE="text-align: right; width: 50%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">12. <U>Notices</U>. All notices and other
communications hereunder shall be in writing and shall be deemed given when delivered personally or when telecopied (with confirmation
of transmission received by the sender), three (3) business days after being sent by certified mail, postage prepaid, return receipt
requested or one (1) business day after being delivered to a nationally recognized overnight courier with next day delivery specified
to the parties at the following addresses (or at such other address for a party as shall be specified by like notice):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 20%">Company:</TD>
    <TD STYLE="width: 70%">Sirius XM Holdings Inc.</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>1221 Avenue of the Americas</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>35<SUP>th</SUP> Floor</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>New York, New York 10020</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Attention:&nbsp;&nbsp;General Counsel</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Executive:</TD>
    <TD>Address on file at the</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>office of Sirius XM</TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notices sent by email or other electronic means not specifically
authorized by this Agreement shall not be effective for any purpose of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">13. <U>Binding Effect</U>. This Agreement
constitutes the legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">14. <U>Amendment</U>. The rights of the Executive
hereunder may not be impaired by any amendment, alteration, suspension, discontinuance or termination of the Plan or this Agreement
without the Executive&rsquo;s consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">15. <U>Section 409A</U>. This Agreement and
the PRSUs granted hereunder are intended to be exempt from Section 409A of the Code and the rules and regulations thereunder such
as to avoid any additional taxation under the Section 409A of the Code. Any ambiguity herein shall be interpreted in accordance
with the foregoing.</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">IN WITNESS WHEREOF, the undersigned have
executed this Agreement as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SIRIUS XM HOLDINGS INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">By:&nbsp;</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1px solid">Exhibit C-2</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 48%; border-bottom: Black 1px solid">Exhibit C-2</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Dara Altman</TD>
    <TD>&nbsp;</TD>
    <TD>SEAN S. SULLIVAN</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Executive Vice President and</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Chief Administrative Officer</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

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    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Annex A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Performance Matrix</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><U>Target Award</U>: Participant&rsquo;s
overall target-level award hereunder is equal to 381,663PRSUs (the &ldquo;<U>Target PRSUs</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The &ldquo;<U>Performance Period</U>&rdquo;
shall be January 1, 2021 through December 31, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The &ldquo;<U>Performance Metric</U>&rdquo;
shall be the three-year total shareholder return (&ldquo;<U>TSR</U>&rdquo;) of the Company relative to the other entities in the
TSR Index (as defined below). Achievement of the Performance Metric shall be determined by the percentile rank of the Company&rsquo;s
TSR relative to the TSR of each other entity in the TSR Index.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><U>Determination of TSR</U>: TSR for the
Company and each other entity in the TSR Index shall be determined in accordance with the following formula. TSR shall be equal
to (a) divided by (b) minus (c), expressed as a percentage, where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(a) is equal to the product of (i) and (ii),
where (i) is the Ending Price and (ii) is the Reinvestment Factor;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(b) is equal to the
Starting Price; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">(c) is equal to one.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">For purposes of determining TSR:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;<U>Starting Price</U>&rdquo; means
the average closing price of one share of common stock on the applicable stock exchange during the twenty (20) trading days immediately
preceding and including the first day of the Performance Period. The Starting Price for a Share of the Company is $6.3795.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;<U>Ending Price</U>&rdquo; means the
average closing price of one share of common stock on the applicable stock exchange during the twenty (20) trading days immediately
preceding and including the last day of the Performance Period; <U>provided</U> that, in the case of a Change of Control, the Ending
Price for the Company shall be the fair market value of a Share immediately prior to the Change of Control, and the Ending Price
for all other companies shall be the average closing price of one share of common stock on the applicable stock exchange during
the twenty (20) trading days immediately preceding the date of the Change of Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;<U>Reinvestment Factor</U>&rdquo;
means the Total Share Count at the end of the Performance Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;<U>Total Share Count</U>&rdquo; equals
one share of the Company&rsquo;s common stock on the first day of the Performance Period, which is adjusted cumulatively for any
dividends declared over the</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%"><PAGE></PAGE></TD><TD STYLE="text-align: right; width: 50%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Performance Period. The adjustment for each dividend declaration
shall increase the Total Share Count by an amount calculated as the sum of (x) and (y), where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(x) equals the Current Total Share Count;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">(y) equals the calculated result of (i) multiplied
by (ii) and divided by (iii), where (i) is the Current Total Share Count, (ii) is the dollar value of the declared dividend, and
(iii) is the closing price of the company&rsquo;s Common stock on the payment date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;<U>Current Total Share Count</U>&rdquo;
means the Total Share Count before each dividend adjustment, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The Company&rsquo;s &ldquo;<U>Rank</U>&rdquo;
shall be determined by the Company&rsquo;s position within the ranking of each entity in the TSR Index (including the Company)
in descending order based on their respective TSRs (with the highest TSR having a Rank of one). For purposes of developing the
ordering provided in the immediately-preceding sentence, (A) any entity that filed for bankruptcy protection under the United States
Bankruptcy Code during the Performance Period shall be assigned the lowest order of any entity in the TSR Index such that such
entity&rsquo;s TSR is fixed at -100%, (B) any entity that is acquired during the Performance Period, or otherwise no longer listed
on a national securities exchange at the end of the Performance Period (other than the Company), shall be removed from the TSR
Index and shall be excluded for purposes of ordering the entities in the TSR Index (and for purposes of calculating the Company&rsquo;s
Percentile) and (C) any entity that has issued multiple classes of stock that are contained in the TSR Index shall be aggregated
and considered one entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">After determining the Company&rsquo;s Rank,
the Company&rsquo;s &ldquo;<U>Percentile</U>&rdquo; will be calculated as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>



<P STYLE="font: 10pt Sans-Serif; margin: 0pt 0; color: Red"><IMG SRC="x1_c101199a002.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Sans-Serif; margin: 0pt 0; color: Red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;P&rdquo; represents the Percentile
which will be rounded, if necessary, to the nearest whole percentile by application of regular rounding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;N&rdquo; represents the total number
of entities in the TSR Index (including the Company, but after removal of any entities in accordance with the calculation of the
Rank).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&ldquo;R&rdquo; represents Company&rsquo;s
Rank (as determined above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The &ldquo;<U>Payout Percentage</U>&rdquo;
shall be determined as follows, subject to the exception below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-family: Symbol">&#183;
</FONT>Threshold Performance: If the Company&#8217;s Percentile equals 25%, the Payout Percentage shall be 50% of the Target PRSUs.
The Payout Percentage shall equal zero if the Company Percentile is less than 25%.</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%"><PAGE></PAGE></TD><TD STYLE="text-align: right; width: 50%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt"><FONT STYLE="font-family: Symbol">&#183; </FONT>Target
Performance: If the Company&#8217;s Percentile equals 50%, the Payout Percentage shall be 100% of the Target PRSUs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><FONT STYLE="font-family: Symbol">&#183;
</FONT>Maximum Performance: If the Company&#8217;s Percentile equals or exceeds 75%, the Payout Percentage shall be 150% of the
Target PRSUs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">Straight-line interpolation shall be used
to determine the Payout Percentage for any Company Percentile between 25% and 75%, based upon the Payout Percentages set forth
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The following exception exists with respect
to the Payout Percentage determination set forth above: If the Company&rsquo;s absolute TSR (irrespective of its Rank or Percentile)
is less than 0%, then the Payout Percentage shall not exceed 100% of the Target PRSUs (subject to adjustment as set forth in Section
2 of the Agreement, if applicable).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">In addition to the Company, the &ldquo;<U>TSR
Index</U>&rdquo; shall be comprised of the companies in the S&amp;P 500 Index as in effect on the first day of the Performance
Period (subject to adjustment as set forth in the definition of Rank above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The Compensation Committee of the Board of
Directors shall be permitted to adjust or modify the calculations set forth above as it deems appropriate, including pursuant to
any adjustments under Sections 4(b) and 12(c) of the Plan.</P>

<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>6
<FILENAME>siri-20210216_def.xml
<TEXT>
<XBRL>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>7
<FILENAME>siri-20210216_lab.xml
<TEXT>
<XBRL>
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<!-- Generated by CompSci Transform (tm) - http://www.compsciresources.com -->
<!-- Created: Wed Feb 17 01:02:50 EST 2021 -->
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>8
<FILENAME>siri-20210216_pre.xml
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
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<TYPE>EX-101.SCH
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<body>
<span style="display: none;">v3.20.4</span><table class="report" border="0" cellspacing="2" id="idm140498550972072">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document And Entity Information<br></strong></div></th>
<th class="th"><div>Feb. 16, 2021</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information Line Items</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">SIRIUS XM HOLDINGS INC.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">SIRI<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000908937<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Feb. 16,  2021<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-34295<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">38-3916511<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">1221 Avenue of the Americas<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">35th Fl.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">New York<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NY<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">10020<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">212<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">584-5100<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, par value $0.001 per share<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
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<td>xbrli:booleanItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
