Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 106

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 106
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 Closing occurs after October 30, 2025, and other limited exceptions; |

| • |     | except as contemplated by the Intelsat Retention Plan (as defined below), Intelsat’s employee benefit plans                                                                                                                                          
 or employment agreements with certain Intelsat employees, (i) increase the compensation or benefits of any of Intelsat’s directors, managers, officers, employees, consultants or advisors, except for (A) merit, promotion, new hire and            
 cost of living increases in salaries or wages and (B) de minimis compensation or benefits, in each case in the ordinary course of business consistent with past practice and excluding any practices related to the Phase II accelerated relocation  
 payments paid from or through the C-band relocation payment clearinghouse to Intelsat or related expenses submitted to the C-band relocation payment clearinghouse for                                                                               
 reimbursement, (ii) 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, (iii) establish, amend,         
 modify, adopt or terminate any employee benefit plan or make any declaration, payment or commitment or obligation of any kind for the material payment of a severance payment, or (iv) hire any individual to replace any employee of Intelsat whose 
 annual base salary is more than $275,000 who resigns or whose employment is terminated;                                                                                                                                                              |

| • |     | enter into any contract with any related party; |

| • |     | make any change in any method of accounting or accounting practice or policy; |

| • |     | except in the ordinary course of business consistent with past practice, (i) make, revoke or modify any                                                                                                                                    
 material tax election, (ii) settle or compromise any material tax liability, (iii) amend any material tax return or fail to file any material tax return, (iv) consent to any extension or waiver of the limitation period applicable to   
 any material tax claim or assessment, (v) change any tax accounting period or any method of tax accounting, (vi) enter into any voluntary disclosure agreement or program with any governmental authority, (vii) settle, compromise,       
 concede or abandon any material tax claim or assessment, (viii) surrender any right to claim a refund of material taxes, (ix) enter into any tax sharing agreement, tax allocation agreement or any other similar arrangement or agreement 
 relating to taxes, (x) incur any material tax or (