Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 94

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 94
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 Executive) effective as of the Closing, subject to continued employment or service with Intelsat or its subsidiaries through the Closing, and, to the extent such individuals terminate employment within 60 days following the Closing Date, each such Designated Executive will be deemed to have experienced a severance-eligible termination of employment effective as of the date of such termination of employment under the terms of the applicable Intelsat plan, including such individual’s Executive Agreement. Notwithstanding the foregoing, Ms. Bryan and Mr. O’Brien 61

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

may (but are not obligated to) individually agree in writing with SES to waive their respective right to resign for “Good Reason” under clause (i) of the definition of Good Reason
in their respective employment agreements, and in the event of any such agreement between any such individual and SES, the Good Reason Acknowledgement will not apply to such individual.

Annual Bonus Treatment

To the extent the
Closing occurs prior to the end of Intelsat’s applicable fiscal year or prior to the payment of such annual incentive bonuses, the parties intend that such annual incentive bonus be paid out in an amount that is no less than the sum of
(i) the pro-rata portion of such annual incentive bonus that such Intelsat employee would have been entitled to receive under the applicable annual incentive plan determined based on the attainment of the
actual level of achievement of the applicable performance criteria as determined by the Intelsat Board or a committee thereof through the end of the quarter in progress as of the Closing, and pro-rated based
on the number of days in the applicable portion of the performance period that have elapsed through the end of the quarter in progress as of the Closing (the “Pre-Closing Annual Bonus”), and
(ii) the annual incentive bonus earned by such Intelsat employee for the period commencing on the first day of the next quarter following the Closing through the remainder of the appliable fiscal year, based on actual performance as determined
reasonably and in good faith by the SES Board or a committee thereof based on the attainment of the actual level of the applicable performance criteria (as adjusted for the Transactions). In the event that the employment of an Intelsat employee is
terminated by SES or Intelsat without “cause” (as defined in the Intelsat equity plan) after the Closing but prior to the payment of the annual incentive bonus (if any), Intelsat will