EX-4.49



 Exhibit 4.49 

SUPPLEMENT NO.5 (this “Supplement”) dated as of November 25, 2015, to the GUARANTEE dated as of January 12, 2011
(the “Guarantee”), among each of the subsidiaries of INTELSAT JACKSON HOLDINGS S.A., a société anonyme existing under the laws of Luxembourg (the “Borrower”), from time to time party to the
Guarantee (each such subsidiary individually, a “Guarantor” and, collectively, the “Guarantors”) and BANK OF AMERICA, N.A., as administrative agent (in such capacity, the “Administrative Agent”).

 A. Reference is made to a Credit Agreement, dated as of January 12, 2011 (as amended by the Amendment and Joinder Agreement, dated
as of October 3, 2012, as further amended by Amendment No. 2 and Joinder Agreement dated as of November 27, 2013, and as amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among INTELSAT (LUXEMBOURG) S.A., the Borrower, the lending institutions from time to time parties thereto (the “Lenders”), the Administrative Agent, BANK OF AMERICA, N.A., CREDIT SUISSE SECURITIES (USA) LLC
and J.P. MORGAN SECURITIES LLC, as joint lead arrangers, BANK OF AMERICA, N.A., CREDIT SUISSE SECURITIES (USA) LLC, J.P. MORGAN SECURITIES LLC, BARCLAYS CAPITAL, DEUTSCHE BANK SECURITIES INC., MORGAN STANLEY SENIOR FUNDING, INC. and UBS SECURITIES
LLC, as joint bookrunners, CREDIT SUISSE SECURITIES (USA) LLC and J.P. MORGAN SECURITIES LLC, as Co-Syndication Agents, BARCLAYS BANK PLC and MORGAN STANLEY SENIOR FUNDING, INC., as Co-Documentation Agents, HSBC BANK USA, N.A., GOLDMAN SACHS
PARTNERS LLC and RBC CAPITAL MARKETS, as co-managers and BANK OF AMERICA, N.A., as a Letter of Credit Issuer. 
 B. Capitalized terms used
herein and not otherwise defined herein shall have the meanings assigned to such terms in the Guarantee. 
 C. The Guarantors have entered
into the Guarantee in order to induce the Administrative Agent, Syndication Agents, Joint Lead Arrangers and the Lenders, Documentation Agents and the Letter of Credit Issuers to enter into the Credit Agreement and to induce the Lenders and the
Letter of Credit Issuers to make their respective Extensions of Credit to the Borrower under the Credit Agreement and to induce one or more Lenders or affiliates of Lenders to enter into Hedge Agreements with the Credit Parties. Section 9.11 of
the Credit Agreement provides that additional Subsidiaries may become Guarantors under the Guarantee by execution and delivery of an instrument in the form of this Supplement. The undersigned Subsidiary (the “New Guarantor”) is
executing this Supplement in accordance with the requirements of the Credit Agreement to become a Guarantor under the Guarantee in order to induce the Lenders and the Letter of Credit Issuers to make additional Extensions of Credit and as
consideration for Extensions of Credit previously made. 
 Accordingly, the Administrative Agent and the New Guarantor agree as follows:

 SECTION 1. In accordance with Section 18 of the Guarantee, the New Guarantor by its signature below hereby becomes a Guarantor under
the Guarantee with 







 
the same force and effect as if originally named therein as a Guarantor and the New Guarantor hereby (a) agrees to all the terms and provisions of the Guarantee applicable to it as a
Guarantor thereunder and (b) represents and warrants that the representations and warranties made by it as a Guarantor thereunder are true and correct on and as of the date hereof (except where such representations and warranties expressly
relate to an earlier date). Each reference to a Guarantor in the Guarantee shall be deemed to include the New Guarantor. The Guarantee is hereby incorporated herein by reference. 

SECTION 2. The New Guarantor represents and warrants to the Administrative Agent and the other Guaranteed Parties that this Supplement has
been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency or similar
laws affecting creditors’ rights generally and subject to general principles of equity and subject to mandatory Luxembourg law provisions. 

SECTION 3. This Supplement may be executed by one or more of the parties to this Supplement on any number of separate counterparts (including
by facsimile or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. A set of the copies of this Supplement signed by all the parties shall be lodged with the Borrower
and the Administrative Agent. This Supplement shall become effective as to the New Guarantor when the Administrative Agent shall have received counterparts of this Supplement that, when taken together, bear the signatures of the New Guarantor and
the Administrative Agent. 
 SECTION 4. Except as expressly supplemented hereby, the Guarantee shall remain in full force and effect. 

SECTION 5. THIS SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 SECTION 6. Any provision of this Supplement that is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof and in the Guarantee, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the
economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION 7. All notices,
requests and demands pursuant hereto shall be made in accordance with Section 14.2 of the Credit Agreement. All communications and notices hereunder to the New Guarantor shall be given to it in care of the Borrower at the Borrower’s
address set forth in Section 14.2 of the Credit Agreement. 







 SECTION 8. The New Guarantor agrees to reimburse the Administrative Agent for its out-of-pocket
expenses in connection with this Supplement, including the fees, disbursements and other charges of counsel for the Administrative Agent. 







 IN WITNESS WHEREOF, the New Guarantor and the Administrative Agent have duly executed this
Supplement to the Guarantee as of the day and year first above written. 
  

	
	 GIVEN under the COMMON SEAL

of INTELSAT IRELAND OPERATIONS LIMITED and delivered as a deed

	
	 /s/ Pat English

	Director
	
	 /s/ Derval Keane

	Secretary
	Per: Matsack Trust Limited


 [Signature Page to Supplement No. 5 to the Guarantee] 







 
					
	 BANK OF AMERICA, N.A.,

    as Administrative Agent

		
	By:	 	 /s/ Paley Chen

		 	Name:	 	Paley Chen
		 	Title:	 	Vice President


 [Signature Page to Supplement No. 5 to the Guarantee]