Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 117

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 117
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 agreement to effect
any transaction (including any merger or acquisition), the effect of which would reasonably be expected to materially delay the obtaining of, or materially increase the risk of not obtaining, any of the Required Antitrust Approvals, the Required FDI
Approvals, the DCSA Approval or the Required Telecommunications Approvals.

Employee Matters

Except to the extent otherwise required by applicable Law, for the period commencing as of the Closing and ending on the earlier of
(x) the date that is 12 months following the date of the Closing (such date of the Closing, the “Closing Date”) and (y) the date of termination of the applicable employee’s employment, SES agreed to provide each individual
who is employed by Intelsat and its subsidiaries prior to the Closing (such employees, collectively, “Continuing Employees”) with (A) base salaries or base wages that are no less favorable than the base salaries or base wages provided
by Intelsat and its subsidiaries immediately prior to the Closing, (B) target short-term cash incentive opportunities that are no less favorable than the target short-term cash incentive opportunities provided by Intelsat and its subsidiaries,
(C) target long-term incentive opportunities provided by SES and its subsidiaries to their similarly-situated employees and (D) the greater of employee benefits (excluding change in control and retention bonus, and long-term, equity or
equity-based incentives) substantially comparable in the aggregate to the employee benefits (excluding change in control and retention bonus, and long-term, equity or equity-based incentives) provided by (I) Intelsat and its subsidiaries
immediately prior to the Closing or (II) SES and its subsidiaries to their similarly-situated employees from time to time.

Except to
the extent otherwise required by applicable Law, SES has agreed to (i) give each Continuing Employees full credit for all purposes of determining any severance entitlements as specified in the Share Purchase Agreement and subject to the terms
and conditions of the Share Purchase Agreement, and (ii) (A) use commercially reasonable efforts to waive any limitation on health and welfare coverage of such Continuing Employees due to pre-existing
conditions, waiting periods, active employment requirements, and requirements to show evidence of good health under any applicable health and welfare plan of the Combined Group to the extent such employees of Intelsat and its subsidiaries were
covered under a similar benefit plan of Intelsat and its subsidiaries and (B) credit each such Continuing Employee with all deductible payments, co-payments and
co