<SUBMISSION>
<ACCESSION-NUMBER>0001157523-09-001569
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20090224
<ITEMS>5.02
<ITEMS>8.01
<ITEMS>9.01
<FILING-DATE>20090225
<DATE-OF-FILING-DATE-CHANGE>20090225
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>Dolby Laboratories, Inc.
<CIK>0001308547
<ASSIGNED-SIC>3663
<IRS-NUMBER>900199783
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0930
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-32431
<FILM-NUMBER>09632305
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>100 POTRERO AVENUE
<CITY>SAN FRANCISCO
<STATE>CA
<ZIP>94103
<PHONE>415 558 0200
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>100 POTRERO AVENUE
<CITY>SAN FRANCISCO
<STATE>CA
<ZIP>94103
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a5904071.htm
<DESCRIPTION>DOLBY LABORATORIES, INC. 8-K
<TEXT>
<html>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>UNITED
      STATES</b></font><br><font style="font-family: Times New Roman; font-size: 18pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><font style="font-family: Times New Roman; font-size: 10pt"><b>Washington,
      DC 20549</b></font><br>
    </p>
    <hr style="width: 23%; color: #000000; height: 1.0 pt; text-align: center">


    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>FORM 8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Pursuant
      to Section 13 or 15(d) of</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>The
      Securities Exchange Act of 1934</b></font><br><br><font style="font-family: Times New Roman; font-size: 10pt">Date
      of Report (Date of earliest event reported):</font><br><font style="font-family: Times New Roman; font-size: 10pt"><b>February
      24, 2009</b></font><br>
    </p>
    <hr style="width: 23%; color: #000000; height: 1.0 pt; text-align: center">


    <p style="text-align: center">
      <font style="font-size: 18pt"><b>DOLBY LABORATORIES, INC.</b></font><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      name of registrant as specified in its charter)</font><br>
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td valign="bottom" style="width: 33%; padding-left: 0.0px; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Delaware</b></u>
          </p>
        </td>
        <td valign="bottom" style="width: 34%; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>001-32431</b></u>
          </p>
        </td>
        <td valign="bottom" style="width: 33%; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>90-0199783</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="width: 33%; padding-left: 0.0px; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction of
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            incorporation)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="width: 34%; padding-left: 0.0px; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File Number)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="width: 33%; padding-left: 0.0px; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (IRS Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>100 Potrero Avenue</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>San Francisco, CA 94103</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of principal executive offices, including zip code)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>(415)
      558-0200</b></font><br><font style="font-family: Times New Roman; font-size: 10pt">(Registrant&#8217;s
      telephone number, including area code)</font><br><br><font style="font-family: Times New Roman; font-size: 10pt"><b>Not
      Applicable</b></font><br><font style="font-family: Times New Roman; font-size: 10pt">(Former
      name or former address, if changed since last report.)</font><br><br>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">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 </font><font style="font-size: 10pt">(see
      General Instruction A.2. below)</font><font style="font-family: Times New Roman; font-size: 10pt">:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c)) </font>
    </p>
    <p>
      <br>

    </p>
    <hr style="width: 100%; color: #000000; text-align: center; height: 4.0 pt">
    <hr style="width: 100%; color: #000000; text-align: center; height: 4.0 pt">


    <p>

    </p>
    <div style="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
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          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt"><b>Item
      5.02&#160;&#160;&#160;&#160;&#160;Departure of Directors or Certain Officers; Election of
      Directors; Appointment of Certain Officers; Compensatory Arrangements of
      Certain Officers.</b></font><br>
    </p>
    <p>
      <u>Retirement of Chief Executive Officer</u>
    </p>
    <p style="text-align: justify">
      On February 24, 2009, Bill Jasper notified the Board of Directors (the
      &#8220;Board&#8221;) of Dolby Laboratories, Inc. (the &#8220;Company&#8221;) of his retirement
      from his position as the Company&#8217;s President and Chief Executive
      Officer, effective March 27, 2009, the last day of the Company&#8217;s second
      fiscal quarter.&#160;&#160;Mr. Jasper remains a director of the Company.&#160;&#160;In
      connection with Mr. Jasper&#8217;s continued service on the Board, the Board
      granted Mr. Jasper, effective April 15, 2009, 10,000 restricted stock
      units under the Company&#8217;s 2005 Stock Plan, which vest as to one-third of
      the shares on each of the first three anniversaries of the grant
      date.&#160;&#160;Mr. Jasper will participate in the non-employee director
      compensation arrangements described in the Company&#8217;s proxy statement for
      its 2009 annual meeting of stockholders.&#160;&#160;Under the terms of those
      arrangements, Mr. Jasper will receive, among other things, an annual
      cash retainer fee of $50,000, a $1,000 per meeting fee and annual
      restricted stock unit awards under the terms of the automatic outside
      director equity award program under the Company&#8217;s 2005 Stock Plan.
    </p>
    <p>
      <u>Appointment of Chief Executive Officer</u>
    </p>
    <p style="text-align: justify">
      On February 24, 2009, the Board appointed Kevin Yeaman, 42, as President
      and Chief Executive Officer of the Company and as a member of the Board,
      effective March 28, 2009.&#160;&#160;Mr. Yeaman has been appointed to serve on the
      Stock Plan Committee of the Board, effective upon commencement of his
      chief executive and director service.&#160;&#160;Mr. Yeaman&#8217;s employment
      agreement, which is described below, provides that he will be nominated
      to serve as a member of the Board at each annual meeting of the
      Company&#8217;s stockholders during his employment term.&#160;&#160;In connection with
      his appointment, the Company and Mr. Yeaman entered into an employment
      agreement dated February 24, 2009, which provides for, among other
      things, an increase in Mr. Yeaman&#8217;s annual base salary, from $385,000 to
      $550,000, effective March 28, 2009, an increase in Mr. Yeaman&#8217;s annual
      target bonus under the 2009 Dolby Executive Annual Incentive Plan<b> </b>from
      65% to 77% of his base salary (for future fiscal years Mr. Yeaman&#8217;s
      annual target bonus shall not be less than 85% of his base salary), the
      grant of an option to purchase 121,000 shares of the Company&#8217;s Class A
      common stock under the Company&#8217;s 2005 Stock Plan, which will vest at a
      rate of 25% on the first anniversary of the grant and the remaining 75%
      in equal monthly installments over the following 36 months, and the
      grant of 30,000 restricted stock units under the Company&#8217;s 2005 Stock
      Plan, which will vest at a rate of 25% on each of the first four
      anniversaries of the grant.&#160;&#160;In addition, pursuant to the employment
      agreement, Mr. Yeaman will receive:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        in the event of his termination without cause or resignation for good
        reason other than in connection with a change of control (as such
        terms are defined in the employment agreement), and subject to Mr.
        Yeaman signing and not revoking a release of claims in favor of the
        Company, (1) a lump-sum payment equal to 150% of his annual base
        salary, (2) a lump-sum payment equal to a pro-rated amount of his
        annual target bonus, (3) accelerated vesting of 50% of his unvested
        equity awards, and (4) reimbursement for premiums paid for continued
        health benefits until the earlier of eighteen (18)&#160;months from
        termination or when he becomes covered under similar plans; or
      </li>
      <li style="margin-bottom: 10.0px">
        in the event of his termination without cause or resignation for good
        reason in connection with a change of control, and subject to Mr.
        Yeaman signing and not revoking a release of claims in favor of the
        Company, (1) a lump-sum payment equal to 200% of his annual base
        salary, (2) an additional lump sum payment equal to 100% of the target
        annual incentive for the year of termination, (3) accelerated vesting
        of 100% of his unvested equity awards, and (4) reimbursement for
        premiums paid for continued health benefits until the earlier of
        twenty-four (24)&#160;months from termination or when he becomes covered
        under similar plans, as well as reimbursement of up to $10,000 in
        legal expenses incurred in connection with the negotiation of the
        employment agreement.
      </li>
    </ul>
    <p style="text-align: justify">
      On February 24, 2009, the Compensation Committee amended and restated
      the 2009 Dolby Executive Annual Incentive Plan to, among other things,
      increase Mr. Yeaman&#8217;s target bonus as described above and adjust his
      individual performance objectives<b>.&#160;&#160;</b>A copy of Mr.
      Yeaman&#8217;s employment agreement will be filed as an exhibit to the
      Company&#8217;s Quarterly Report on Form 10-Q for the quarter ended March 27,
      2009.
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 10pt; text-align: center">
          2
        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: justify">
      Mr. Yeaman is currently serving as the Company&#8217;s Executive Vice
      President and Chief Financial Officer and will continue to serve in such
      capacity until his appointment as President and Chief Executive Officer
      becomes effective.&#160;&#160;Mr. Yeaman<i> </i>joined the Company as
      Chief Financial Officer and Vice President in October 2005, was
      appointed Senior Vice President in November 2006 and Executive Vice
      President in July 2007.&#160;&#160;Prior to joining the Company, Mr.&#160;Yeaman worked
      for seven years at E.piphany, Inc., a publicly traded enterprise
      software company, most recently as Chief Financial Officer from August
      1999 to October 2005.&#160;&#160;Previously, Mr.&#160;Yeaman served as Worldwide Vice
      President of Field Finance Operations for Informix Software, Inc., a
      provider of relational database software from February 1998 to August
      1998.&#160;&#160;From September 1988 to February 1998, Mr.&#160;Yeaman served in
      Silicon Valley and London in various positions at KPMG LLP, an
      accounting firm, serving most recently as a senior manager.&#160;&#160;Mr.&#160;Yeaman
      holds a BS degree in commerce from Santa Clara University.
    </p>
    <p>
      <u>Appointment of New Directors</u>
    </p>
    <p style="text-align: justify">
      On February 24, 2009, the Board appointed Nicholas Donatiello, Jr. and
      Avadis Tevanian, Jr. to serve as directors.&#160;&#160;Mr. Donatiello has been
      appointed to serve on the Compensation Committee of the Board.&#160;&#160;Dr.
      Tevanian has been appointed to serve on the Nominating and Governance
      Committee of the Board.&#160;&#160;
    </p>
    <p style="text-align: justify">
      Mr. Donatiello and Dr. Tevanian will participate in the non-employee
      director compensation arrangements described in the Company&#8217;s proxy
      statement for its 2009 annual meeting of stockholders.&#160;&#160;Under the terms
      of those arrangements, Mr. Donatiello and Dr. Tevanian will receive,
      among other things, an annual cash retainer fee of $50,000, a $1,000 per
      meeting fee and an initial restricted stock unit award of 20,000 shares
      of the Company&#8217;s Class A common stock, which vests as to one-third of
      the shares on each of the first three anniversaries of the grant
      date.&#160;&#160;In addition, Mr. Donatiello and Dr. Tevanian have executed the
      Company&#8217;s standard form of indemnification agreement.
    </p>
    <p>
      <u>Resignations of Named Executive Officers</u>
    </p>
    <p style="text-align: justify">
      On February 24, 2009, Tim Partridge, the Company's current Executive
      Vice President of Products and Technologies, and Marty Jaffe, the
      Company's Executive Vice President, Business Affairs, both informed the
      Company that they would be leaving their positions in order to pursue
      other goals.&#160;&#160;Effective March 6, 2009, the Company will promote Michael
      Rockwell, Senior Vice President of Worldwide Engineering, to Executive
      Vice President of Products and Technologies, and will eliminate the
      position of Executive Vice President, Business Affairs.
    </p>
    <p style="text-align: justify">
      Company press releases announcing the foregoing events are attached
      hereto as Exhibits 99.1 and 99.2.
    </p>
    <p>

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt"><b>Item
      8.01&#160;&#160;&#160;&#160;&#160;Other Events.</b></font><br>
    </p>
    <p style="text-align: justify">
      On February 24, 2009, the Board appointed Peter Gotcher as Executive
      Chairman of the Board of Directors, effective March 1, 2009, replacing
      Ray Dolby, Founder and the current Chairman of the Board.&#160;&#160;Mr. Dolby
      will remain a director of the Company.
    </p>
    <p style="text-align: justify">
      The Company press release announcing Mr. Gotcher&#8217;s appointment is
      attached hereto as Exhibit 99.2.
    </p>
    <p style="text-align: justify">

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt"><b>Item
      9.01&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</b></font><br>
    </p>
    <p style="white-space: nowrap">
      <b>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits</b>
    </p>
    <p>

    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td valign="top" style="width: 12%; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit No.</b>
          </p>
        </td>
        <td style="width: 3%">
          &#160;
        </td>
        <td valign="top" style="width: 85%; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Description</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 12%; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            99.1
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="width: 85%; padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release dated February 25, 2009 entitled &quot;Dolby CEO Bill
            Jasper Announces Retirement; CFO Kevin Yeaman Tapped as New CEO&quot;
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 12%; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            99.2
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="width: 85%; padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release dated February 25, 2009 entitled &quot;Dolby Expands
            Board of Directors&quot;
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 10pt; text-align: center">
          3
        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">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 hereunto duly authorized.</font>
    </p>
    <p style="text-indent: 30.0px">
      <br>

    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" style="width: 50%; padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>DOLBY LABORATORIES, INC.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" style="width: 50%; padding-left: 0.0px; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" style="width: 50%; padding-left: 0.0px; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 5%; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td valign="top" style="width: 45%; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            February 25, 2009
          </p>
        </td>
        <td valign="top" style="width: 50%; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Mark S. Anderson
          </p>
        </td>
      </tr>
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        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" style="width: 50%; padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Mark S. Anderson
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" style="width: 50%; padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Executive Vice President, General Counsel and Secretary
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
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        <div style="text-align: left">

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          4
        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>EXHIBIT
      INDEX</b></font>
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
        <td valign="top" style="width: 8%; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit<br>No.</b>
          </p>
        </td>
        <td style="width: 2%">
          &#160;
        </td>
        <td valign="bottom" style="width: 90%; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Description</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 8%; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          99.1
        </td>
        <td style="width: 2%">

        </td>
        <td valign="top" style="width: 90%; padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release dated February 25, 2009 entitled &quot;Dolby CEO Bill
            Jasper Announces Retirement; CFO Kevin Yeaman Tapped as New CEO&quot;
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 8%; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          99.2
        </td>
        <td style="width: 2%">

        </td>
        <td valign="top" style="width: 90%; padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release dated February 25, 2009 entitled &quot;Dolby Expands
            Board of Directors&quot;
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>

    </p>
    <p style="text-align: center">
      5
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a5904071ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Dolby CEO
      Bill Jasper Announces Retirement; CFO Kevin Yeaman Tapped as New CEO</b></font>
    </p>
    <p>
      SAN FRANCISCO--(BUSINESS WIRE)--February 25, 2009--Dolby Laboratories,
      Inc. (NYSE:DLB), announced today that Bill Jasper, the company&#8217;s
      President and Chief Executive Officer, will retire on March 27, the last
      day of the company&#8217;s second fiscal quarter, from his executive posts
      after 30 years as a senior executive with Dolby. Jasper will continue to
      serve on Dolby&#8217;s Board of Directors. Company Chief Financial Officer,
      Kevin Yeaman, will succeed Jasper as the new President and CEO and will
      join the Board of Directors effective upon assuming the CEO role.
    </p>
    <p>
      &#8220;Bill Jasper led Dolby Laboratories through its evolution from the small
      company that I started to the international organization it is today,&#8221;
      said Ray Dolby, Founder. &#8220;The company has thrived under his leadership.
      I thank him for his resourceful and dependable service to our
      organization and wish him the best as he moves on to the next phase of
      his life.&#8221;
    </p>
    <p>
      Jasper joined Dolby in 1979 as Chief Financial Officer and was named
      company President in 1983. Over the years, he has led the company
      through many of its technology transformations, including analog to
      digital, music to film, cassettes to DVDs, and audio-only to audio and
      video. Today, Dolby<sup>&#174;</sup> technologies enhance consumers&#8217;
      enjoyment of digital entertainment in more ways than ever before.
    </p>
    <p>
      &#8220;I&#8217;m honored to have had the opportunity to lead Dolby over the past
      three decades and would like to thank Ray for an incredible opportunity
      that has been extremely rewarding, both professionally and personally. I
      am proud of our employees, and of the world-class products,
      technologies, and services they deliver,&#8221; said Jasper. &#8220;I&#8217;m very pleased
      to have Kevin taking the reins. I have every confidence that the company
      will continue to flourish under his leadership. Kevin is an outstanding
      leader with the ability to focus an organization to achieve results.&#8221;
    </p>
    <p>
      Yeaman joined Dolby in 2005 as Chief Financial Officer, where, in
      addition to running the financial organization and investor relations,
      he has been an instrumental member of the company&#8217;s strategic planning
      process. Prior to joining Dolby, Yeaman was Chief Financial Officer at
      E.piphany, Inc. and was key to taking that company from its early stages
      as a private technology start-up to a public company. Yeaman began his
      career with ten years at KPMG, LLP.
    </p>
    <p>
      &#8220;I want to thank Bill for his leadership at Dolby. I am excited to have
      the opportunity to build on the foundation that Bill and Ray have
      established,&#8221; said Yeaman. &#8220;Dolby&#8217;s success has always come from its
      smart, passionate, and talented people. We have many exciting
      opportunities at Dolby, and I look forward to leading this great&#160;company
      as we pursue them.&#8221;
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
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        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Tim Partridge, Executive Vice President of Products and Technologies,
      and Marty Jaffe, Executive Vice President, Business Affairs, both
      informed the company that they would be leaving their positions in order
      to pursue other goals. Effective March 6, 2009, the company will promote
      Michael Rockwell, Senior Vice President of Worldwide Engineering, to
      Executive Vice President of Products and Technologies.
    </p>
    <p>
      <b>The Company's Conference Call Information</b>
    </p>
    <p>
      Members of Dolby management will lead a conference call open to all
      interested parties to discuss these changes at 1:00 p.m. PT/4:00 p.m.
      ET, Wednesday, February 25, 2009.
    </p>
    <p>
      Access to the teleconference will be available over the Internet from <u>http://investor.dolby.com/events.cfm</u>
      or by dialing 1-888-516-2438. International callers can access the
      conference call at 1-719-325-2432.
    </p>
    <p>
      A replay of the call will be available beginning at 4:00 p.m. PT on
      February 25, 2009, until 9:00 p.m. PT on March 4, 2009, at
      1-888-203-1112. International callers can access the replay by dialing
      1-719-457-0820 and using confirmation code 4155102. An archived version
      of the teleconference will also be available on <u>www.dolby.com</u>.
    </p>
    <p>
      <b>About Dolby Laboratories</b>
    </p>
    <p>
      Dolby Laboratories (NYSE:DLB) is the global leader in technologies that
      are essential elements in the best entertainment experiences. Founded in
      1965 and best known for high-quality audio and surround sound, Dolby
      creates innovations that enrich entertainment at the movies, at home, or
      on the go. Visit <u>www.dolby.com</u> for more information.
    </p>
    <p>
      Certain statements in this press release, including statements relating
      to the company continuing to flourish and focus on attaining results and
      expected benefits to be derived therefrom, are &quot;forward-looking
      statements&quot; that are subject to risks and uncertainties. These
      forward-looking statements are based on management's current
      expectations, and as a result of certain risks and uncertainties, actual
      results may differ materially from those projected. The following
      important factors, without limitation, could cause actual results to
      differ materially from those in the forward-looking statements: risks
      associated with trends and competitive pressures in the markets in which
      Dolby operates; the effects of the economic recession both domestically
      and internationally; Dolby's ability to develop, maintain, and
      strengthen relationships with industry participants; Dolby's ability to
      develop and deliver innovative technologies in response to new and
      growing markets in the entertainment industry; risks associated with the
      management changes; and other risks detailed in Dolby's Securities and
      Exchange Commission filings and reports, including the risks identified
      under the section captioned &quot;Risk Factors&quot; in its most recent Periodic
      Report on Form 10-Q. Dolby disclaims any obligation to update
      information contained in these forward-looking statements, whether as a
      result of new information, future events, or otherwise.
    </p>
    <p>
      Dolby and the double-D symbol are registered trademarks of Dolby
      Laboratories. S09/20999 DLB-F
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br>Dolby Laboratories, Inc.<br>Jeanne Alford, 415-645-5245
      (Media)<br><u>news@dolby.com</u><br>Alex Hughes, 415-645-4572 (Investors)<br><u>investor@dolby.com</u>
    </p>
    <p>

    </p>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>a5904071ex99_2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.2</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Dolby
      Expands Board of Directors</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Peter
      Gotcher Accepts Role as Executive Chairman of the Board of Directors</b></font></i>
    </p>
    <p>
      SAN FRANCISCO--(BUSINESS WIRE)--February 25, 2009--Dolby Laboratories,
      Inc. (NYSE:DLB), announced today that it expanded its Board of Directors
      with the addition of two independent directors, Nicholas &#8220;Nick&#8221;
      Donatiello, Jr., and Avadis &#8220;Avie&#8221; Tevanian, Jr.
    </p>
    <p>
      In addition, effective March 1, 2009, Ray Dolby, Founder, will step down
      as Chairman but remain a member of the Board. Peter Gotcher will accept
      the role of Executive Chairman of the Board of Directors effective March
      1, 2009. In addition to providing leadership for the Board, Gotcher
      brings extensive experience in Dolby&#8217;s traditional markets and emerging
      media, which will provide a valuable perspective for the Board and the
      Chief Executive Officer.
    </p>
    <p>
      Donatiello and Tevanian join existing members Gotcher, Dolby, Ted W.
      Hall, Bill Jasper, Sanford R. Robertson, and Roger S. Siboni on Dolby
      Laboratories&#8217; Board of Directors. In addition, Kevin Yeaman, Dolby&#8217;s
      Chief Financial Officer, who will succeed Bill Jasper as the new
      President and Chief Executive Officer on March 28, 2009, will join the
      Board of Directors effective upon assuming the CEO role.
    </p>
    <p>
      Donatiello has been the President and CEO of Odyssey Ventures, Inc.
      since September 1993. Prior to founding Odyssey, he was Press Secretary
      and Campaign Manager for U.S. Senator Bill Bradley and a consultant at
      McKinsey &amp; Company. He is a director of three of the American Funds
      managed by Capital Research and Management. He is also a director of
      Classmates Media Corporation, a wholly owned subsidiary of United
      Online, as well as a number of other private companies. In addition, he
      was chairman of the board of Northern California Public Broadcasting,
      Inc. from 2006 through 2008.
    </p>
    <p>
      Tevanian is the former Software Chief Technology Officer of Apple
      Computer. As Software CTO, Tevanian focused on setting company-wide
      software technology direction for Apple. Prior to his tenure as Software
      CTO, Tevanian was Senior Vice President of Software at Apple, a role he
      took on when Apple acquired NeXT&#8482; in 1997. As SVP of Software, Tevanian
      led the software engineering team responsible for the creation of Mac OS<sup>&#174;</sup>
      X and worked as part of Apple's executive team that engineered the
      turnaround and current success of Apple. Before joining Apple, Tevanian
      was Vice President of Engineering at NeXT and was responsible for
      managing NeXT's industry renowned engineering department. He started his
      professional career at Carnegie Mellon University, where he was a
      principal designer and engineer of the Mach operating system upon which
      Nextstep, and now OS X, is based.
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
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        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Gotcher, a member of the Dolby Board since 2003, is an independent
      investor focusing on investments in digital media technology companies.
      He served as a venture partner with Redpoint Ventures from 1999 through
      2003 and with Institutional Venture Partners from 1997 through 1999.
      Gotcher founded Digidesign, Inc. in 1984 and served as its President,
      CEO, and Chairman through Digidesign's initial public offering in 1993,
      and subsequent merger with Avid Technology in 1995. Gotcher served as
      the general manager of Digidesign and executive vice president of Avid
      Technology from January 1995, to May 1996. Gotcher is the Chairman of
      Topspin Media and serves on the boards of directors of several other
      private companies.
    </p>
    <p>
      <b>The Company's Conference Call Information</b>
    </p>
    <p>
      Members of Dolby management will lead a conference call open to all
      interested parties to discuss these changes at 1:00 p.m. PT/4:00 p.m.
      ET, Wednesday, February 25, 2009.
    </p>
    <p>
      Access to the teleconference will be available over the Internet from <u>http://investor.dolby.com/events.cfm</u>
      or by dialing 1-888-516-2438. International callers can access the
      conference call at 1-719-325-2432.
    </p>
    <p>
      A replay of the call will be available beginning at 4:00 p.m. PT on
      February 25, 2009, until 9:00 p.m. PT on March 4, 2009, at
      1-888-203-1112. International callers can access the replay by dialing
      1-719-457-0820 and using confirmation code 4155102. An archived version
      of the teleconference will also be available on <u>www.dolby.com</u>.
    </p>
    <p>
      <b>About Dolby Laboratories</b>
    </p>
    <p>
      Dolby Laboratories (NYSE:DLB) is the global leader in technologies that
      are essential elements in the best entertainment experiences. Founded in
      1965 and best known for high-quality audio and surround sound, Dolby
      creates innovations that enrich entertainment at the movies, at home, or
      on the go. Visit <u>www.dolby.com</u> for more information.
    </p>
    <p>
      Dolby and the double-D symbol are registered trademarks of Dolby
      Laboratories. All other trademarks remain the property of their
      respective owners. S09/20998 DLB-F
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br>Dolby Laboratories, Inc.<br>Jeanne Alford, 415-645-5193
      (Media)<br><u>news@dolby.com</u><br>Alex Hughes, 415-645-4572 (Investors)<br><u>investor@dolby.com</u>
    </p>
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