Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 118

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 118
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-insurance paid by such employee under any medical plan of Intelsat and its subsidiaries prior to the Closing Date during the plan year in which the Closing occurs for the purpose of determining the extent
to which any such employee has satisfied any applicable deductible and whether such employee has reached the out-of-pocket maximum under any benefit plan of SES or any
of its affiliates for such plan year.

Intelsat and SES agreed to reasonably cooperate in good faith to comply in all material respects
with all information, consultation, effects bargaining and other processes, if any, toward the relevant employees and relating to any work councils, unions and any employee representative bodies in connection with the transactions contemplated in
the Share Purchase Agreement.

77

Intelsat and SES also agreed to reasonably cooperate to establish and implement a retention plan (the “Intelsat Retention Plan”) providing for a minimum of $40 million of payments to retain employees of Intelsat and its subsidiaries, and SES will have the authority and discretion to determine all terms of the Intelsat Retention Plan and the recipients thereunder; provided that SES will consider in good faith the recommendation of Intelsat’s Chief Executive Officer with respect to the Intelsat Retention Plan prior to such determination. Financing Covenants Repurchase of Notes; Termination and Refinancing of Indebtedness Intelsat and SES agreed that SES may, in its sole discretion, deliver notice (the “Notes Repurchase Notice”) to Intelsat not less than 20 business days prior to the Closing of SES’s desire to redeem, repurchase, acquire or otherwise satisfy and discharge (any such transaction, a “Pre-ClosingNotes Repurchase”) all or part of Intelsat Jackson’s 6.500% First Lien Secured Notes due 2030 (the “Intelsat Jackson Notes”). If SES delivers a Notes Repurchase Notice, Intelsat has agreed to use its reasonable best efforts to, and to use its reasonable best efforts to cause its subsidiaries and representatives to, cause such Pre-ClosingNotes Repurchase to be effected on such terms and conditions and timing as set forth in the Notes Repurchase Notice, subject to SES providing all funds necessary to effect the Pre-ClosingNotes Repurchase and certain other terms and conditions of the Share Purchase Agreement. Intelsat has agreed to, and agreed to cause Intelsat Jackson to, deliver to SES prior to the Closing an executed customary payoff letter from the creditors in respect of the Credit Agreement, dated February 1, 202