Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 129

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 129
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 the Share Purchase Agreement is validly terminated by Intelsat or SES (such terminating party, the “Terminating Party” and, such non-terminating party, the “Non-Terminating Party”) pursuant to (i) a material breach of a covenant, (ii) the failure of the
Non-Terminating Party to close at a time when all applicable conditions have been satisfied or waived (other than any such condition the failure of which to be satisfied has been caused by or results from a
breach by the Non-Terminating Party of any of its obligations under the Share Purchase Agreement), (iii) the expiration of the Outside Date if the Terminating Party could have terminated under foregoing
clauses (i) or (ii) at such time, or (iv) 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, if the Terminating Party could have terminated under foregoing clauses (i) or (ii) at such time (each a “Breach Termination”) pursuant to the terms of the Share
Purchase Agreement, then the Non-Terminating Party agreed to pay to the Terminating Party the Breach Termination Fee, together with the Terminating Party’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 the Non-Terminating Party’s obligation to pay the applicable Termination Fees) (such costs and expenses, the “Breach 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 as a Vote Condition Termination, then Intelsat
agreed 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