Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 127

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 127
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reed to pay to SES the Vote Condition Termination Fee, together with SES’s and its affiliates’ reasonable and documented out-of-pocket costs and expenses
incurred in connection with the Share Purchase Agreement and the Transactions (including fees and expenses of attorneys, accountants, financial advisors and other professionals and the reasonable and documented out-of-pocket expenses incurred in connection with any action commenced to enforce Intelsat’s obligation to pay the applicable Termination Payments) (such costs and expenses, the “Vote Condition
Termination Fee Expenses”) within 2 business days after the date of such termination.

If the Share Purchase Agreement is validly
terminated by Intelsat or SES for (i) the issuance of an order or any other action by any governmental authority in any jurisdiction for which there is a Required Antitrust Approval, a Required Telecommunication Approval that is a consent or a
Required FDI Approval, or in any other jurisdiction that is material to the Combined Group, that has the effect of permanently restraining, enjoining or otherwise prohibiting the Transactions, which such order or other action has become final and non-appealable (and such termination does not constitute a Breach Termination), or (ii) expiration of the Outside Date (and (1) such termination does not constitute a Breach Termination and (2) at the
time of such termination, certain conditions relating to any required pre-Closing Regulatory Approval have not been satisfied but all other conditions have been satisfied or waived (any such termination, a
“Regulatory Condition Termination” and, together with a Breach Termination and a Vote Condition Termination, the “Fee Terminations”), then SES agreed to pay to Intelsat the Regulatory Condition Termination Fee, together with
Intelsat’s and its affiliates’ reasonable and documented out-of-pocket costs and expenses incurred in connection with the Share Purchase Agreement and the
Transactions (including fees and expenses of attorneys, accountants, financial advisors and other professionals and the reasonable and documented out-of-pocket expenses
incurred in connection with any action commenced to enforce SES’s obligation to pay the applicable Termination Fees) (such costs and expenses, the “Regulatory Condition Termination Fee Expenses”) within 2 business days after the date
of such termination, subject to certain limitations set forth in the Share Purchase Agreement.

If the Share Purchase Agreement is validly
terminated by Intelsat or SES in circumstances in which the Breach Termination Fee or the Regulatory Condition Termination Fee is payable by SES to Intelsat, then