Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 535

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 535
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(y) Saturn has provided its consent in writing (not to be unreasonably withheld, conditioned or delayed);

(xiii)
except as contemplated by the Retention Plan, any Indiana Plan, or as described on of the Indiana Disclosure Schedules, (A) increase the compensation payable or to become payable or the benefits
provided to its directors, managers, officers, employees, consultants or advisors, except for (x) merit, promotion, new hire and cost of living increases in salaries or wages and (y) de minimis compensation or benefits, in each case
(1) in the ordinary course of business consistent with past practice over the previous two years and (2) excluding any practices related to the Indiana Aggregate Phase II C-Band Proceeds,
(B) grant any severance or termination payment to, or pay, loan or advance any amount to, any director, manager, officer, employee, consultant or advisor, except in the ordinary course of business consistent with past practice over the previous
two years, (C) establish, adopt, enter into or amend any Indiana Plan, or make any declaration, payment or commitment or obligation of any kind for the material payment (whether in cash, equity or otherwise) of a severance payment, termination
payment, bonus or other additional salary or compensation to any such person or (D) hire any individual to replace any employee of Indiana whose annual base salary is more than $275,000 who resigns or whose employment is terminated;
that in no event shall Indiana make, or grant any right to receive, any “double trigger” or similar payments to any directors, managers, officers, employees, consultants or advisors other than Indiana RSUs or Indiana PSUs
issued in accordance with this ;

(xiv) enter into any Contract with any
Related Party (other than Contracts with or between wholly-owned Subsidiaries);

(xv) make any change in any method of
accounting or accounting practice or policy, except as required by Applicable Accounting Principles;

(xvi) except in the
ordinary course of business consistent with past practice, (A) make, revoke or modify any material Tax election, (B) settle or compromise any material Tax Liability, (C) amend any material Return or fail to file any material Return,
(D) consent to any extension or waiver of the limitation period applicable to any material Tax claim or assessment, (E) change any Tax accounting period or any method of Tax accounting, (F) enter into any voluntary disclosure
agreement or program with any