Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 117

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 117
---
 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-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.

76

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 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