Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 95

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 95
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 pay to such Intelsat employee the Pre-Closing Annual Bonus.

280G Mitigation Actions

In connection with the Transactions, Intelsat may take certain tax-planning actions to
mitigate any adverse tax consequences under the “golden parachute” provisions of Sections 280G and 4999 of the Code that could arise in connection with the completion of the Transactions. The
tax-planning and mitigation actions may include accelerating payments that would have vested and otherwise become payable in calendar year 2025 or later in the ordinary course of business and obtaining third
party valuation of restrictive covenants.

SES will cooperate in good faith to implement post-Closing strategies to mitigate the impact of
Sections 280G and 4999 of the Code, to include retention and/or consulting agreements for any “disqualified individual” who will or may receive or retain any amounts that constitute “excess parachute payments” (each as defined in
Section 280G of the code); provided, that the foregoing will not require Intelsat or SES to indemnify any such disqualified individual against any Taxes that may be imposed under Section 4999 of the Code or otherwise, or result in any
material additional costs.

Compensation Arrangements with SES

It is possible that continuing Intelsat employees, including the executive officers, will enter into new compensation arrangements with SES.
Such arrangements may include agreements regarding future terms of employment, compensation or benefits. As of the date of this prospectus, no compensation arrangements between such persons and SES have been established.

Indemnification and Insurance

Pursuant
to the terms of the Share Purchase Agreement, Intelsat’s directors and executive officers will be entitled to certain ongoing indemnification and insurance coverage for a period of six years following the Closing.

62

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

The Liquidation

The Liquidation will open effective as of the Closing. It is expected that a significant portion of the Acquisition Consideration (including
all of the CVRs) will be distributed to Intelsat’s shareholders promptly following the Closing. The Closing Cash Consideration distributable to Intelsat’s shareholders will be reduced by amounts payable in respect of Intelsat’s
outstanding warrants, which will expire, terminate and become void at the Closing and represent only the right to receive the “Black-Scholes” value of the outstanding Intelsat warrants, which value will be determined by a third-party
valuation