Document:

Exhibit

EXHIBIT 10.3

FOURTH AMENDMENT TO AMENDED AND RESTATED 
RECEIVABLES PURCHASE AND ADMINISTRATION AGREEMENT
THIS FOURTH AMENDMENT TO AMENDED AND RESTATED RECEIVABLES PURCHASE AND ADMINISTRATION AGREEMENT, dated as of May 18, 2017 (this “Amendment”), is by and among T-MOBILE HANDSET FUNDING LLC (the “Transferor”), as transferor, T-MOBILE FINANCIAL LLC (“Finco”), individually and as servicer, T-MOBILE US, INC., as guarantor (the “Guarantor”), ROYAL BANK OF CANADA, as Administrative Agent (the “Administrative Agent”), and the various Funding Agents party to the RPAA referenced below.
RECITALS:
WHEREAS, the parties hereto have entered into the Amended and Restated Receivables Purchase and Administration Agreement, dated as of June 6, 2016, as amended by the First Amendment to Amended and Restated Receivables Purchase and Administration Agreement, dated as of July 27, 2016, the Second Amendment to Amended and Restated Receivable Purchase and Administration Agreement, dated as of October 31, 2016 and the Third Amended to the Amended and Restated Receivables Purchase and Administration Agreement, dated as of December 23, 2016 (as amended, supplemented or otherwise modified from time to time, the “RPAA”); and
WHEREAS, the parties hereto wish to amend the RPAA as set forth in this Amendment.
NOW, THEREFORE, the parties hereto, in consideration of their mutual covenants hereinafter set forth and intending to be legally bound hereby, agree as follows:
ARTICLE 1

DEFINITIONS
Section 1.01Capitalized Terms. Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed thereto in the RPAA.
ARTICLE 2
AMENDMENTS
Section 2.01Amendments to the RPAA.
(a)Section 1.1 of the RPAA is hereby amended by addition of the following definition in correct alphabetical order: 
“No-Service Receivable” shall mean a Transferred Receivable where, in accordance with the Credit and Collection Policies (i) the related Obligor has requested cancellation of such Obligor’s wireless service, (ii) such request is accepted by the Servicer

 or its applicable Affiliate without payment in full of amounts owing under the related Credit Agreement, and (iii) all Scheduled Payments and other amounts due under the remaining Credit Agreement remain outstanding and payable by such Obligor following such cancellation of wireless service.  For the avoidance of doubt, a Transferred Receivable becomes a No-Service Receivable on the date on which the Servicer accepts such request in accordance with the Credit and Collection Policies.”
(b)Section 1.1 of the RPAA is hereby amended by amending and restating the definition of “Default Ratio” to read as follows:
““Default Ratio” shall mean, at the end of any Collection Period, the product of (a) 12 times (b) the quotient of (i) the aggregate of the Receivable Balances of the Transferred Receivables that became Defaulted Receivables or No-Service Receivables during the Collection Period over (ii) the Pool Balance at the beginning of the Collection Period.”
(c)Section 1.1 of the RPAA is hereby amended by amending and restating clause (j) of the definition of “Eligible Receivable” to read as follows:
“(j) has a Credit Agreement that relates to a service agreement for airtime service provided by an Affiliate of the Servicer, a termination of which service agreement by the related Obligor causes acceleration of amounts due under the Credit Agreement, unless such Receivable is reclassified as a No-Service Receivable in accordance with the Credit and Collection Policies;”
(d)Annex A of the RPAA is hereby amended by addition of the following clause (d) to the definition of “Excess Concentrations”:
“(d) an amount equal to the aggregate Receivable Balances of No-Service Receivables.”

ARTICLE 3
CREDIT AND COLLECTION POLICIES ACKNOWLEDGEMENT
Section 3.01Credit and Collection Policies Acknowledgment.
(a)The parties hereto acknowledge and agree that the Credit and Collection Policies shall be amended to allow Receivables to become No-Service Receivables.
(b)Finco hereby certifies to the Administrative Agent and the Owners, as of the date hereof, that it believes that the amendment to the Credit and Collection Policies referred to in clause (a) above is not reasonably likely to materially adversely affect the collectability of the Transferred Receivables (or any Related Rights), or materially decrease the credit quality of any new Transferred Receivables (in each case, taken as a whole).

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ARTICLE 4
EFFECTIVENESS; RATIFICATION
Section 4.01Effectiveness. This Amendment shall become effective, and this Amendment thereafter shall be binding on the parties hereto and their respective successors and assigns, as of the date first set forth above upon the execution and delivery of counterparts by the parties hereto.
Section 4.02    Incorporation; Ratification.
(a)On and after the execution and delivery hereof, this Amendment shall be a part of the RPAA and each reference in the RPAA to “this Agreement” or “hereof”, “hereunder” or words of like import, and each reference in any other Related Document to the RPAA shall mean and be a reference to such RPAA as previously amended, and as amended, modified and consented to hereby.
(b)Except as expressly provided herein, the RPAA shall remain in full force and effect and is hereby ratified and confirmed by the parties hereto.
(c)After giving effect to this Amendment, the Performance Guaranty previously executed and delivered by the Guarantor is and shall continue to be in full force and effect.

ARTICLE 5
MISCELLANEOUS
Section 5.01Representations and Warranties.
(a)The Transferor hereby represents and warrants to the Administrative Agent and the Owners that its representations and warranties set forth in Section 3.1 of the RPAA are true and correct in all material respects as of the date hereof.
(b)Finco hereby represents and warrants to the Administrative Agent and the Owners that its representations and warranties set forth in Section 3.1 and Section 3.3 of the RPAA are true and correct in all material respects as of the date hereof.
(c)The Guarantor hereby represents and warrants to the Administrative Agent and the Owners that its representations and warranties set forth in Section 3.4 of the RPAA are true and correct in all material respects as of the date hereof.
Section 5.02    No Other Amendments; Status of RPAA and Related Documents. The amendments set forth herein are limited as specified and shall not be construed as an amendment to any other term or provision of the RPAA. Nothing herein shall obligate the Administrative Agent, any Conduit Purchaser, Committed Purchaser or Funding Agent to grant (or consent to) any future amendment or waiver of any kind under or in connection with the RPAA or entitle the Transferor to receive any such amendment or waiver under the RPAA. Except as otherwise 

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expressly provided herein, this Amendment shall not constitute a waiver of any right, power or remedy of the Owners, the Funding Agents or the Administrative Agent set forth in the RPPA and Related Documents, and except as expressly provided herein, this Amendment shall have no effect on any term or condition of the RPAA or Related Documents.
Section 5.03    Governing Law; Submission to Jurisdiction. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED THEREIN, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. EACH OF THE PARTIES TO THIS AMENDMENT HEREBY AGREES TO THE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND ANY APPELLATE COURT HAVING JURISDICTION TO REVIEW THE JUDGMENTS THEREOF. EACH OF THE PARTIES HEREBY WAIVES ANY OBJECTION BASED ON FORUM NON CONVENIENS AND ANY OBJECTION TO VENUE OF ANY ACTION INSTITUTED HEREUNDER IN ANY OF THE AFOREMENTIONED COURTS.
Section 5.04    Counterparts. This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one agreement, and any of the parties hereto may execute this Amendment by signing such counterpart.
Section 5.05    Additional Designated Email Address. Finco hereby notifies the Administrative Agent that “Tatiana.Kuzmina1@T-Mobile.com” shall be an additional “Designated Email Address” for purposes of the RPAA.
[signatures on following page]

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IN WITNESS WHEREOF, each of the parties hereto have caused a counterpart of this                    Amendment to be duly executed as of the date first above written.

	
		
	 
	T-MOBILE HANDSET FUNDING LLC
as Transferor

	 
	 

	 
	 

	 
	By: /s/ Dirk Wehrse                                             

	 
	Name: Dirk Wehrse
Title: Senior Vice President, Treasury & 
Treasurer

	
		
	 
	T-MOBILE FINANCIAL LLC
In its individual capacity and as Servicer

	 
	 

	 
	 

	 
	By: /s/ Dirk Wehrse                                             

	 
	Name: Dirk Wehrse
Title: Assistant Treasurer

	
		
	 
	T-MOBILE US, INC.
as Guarantor

	 
	 

	 
	 

	 
	By: /s/ Dirk Wehrse                                             

	 
	Name: Dirk Wehrse
Title: Senior Vice President, Treasury & 
Treasurer

 

[Signature Page to Fourth Amendment to A&R RPAA]

	
		
	

	ROYAL BANK OF CANADA
as Administrative Agent

	 
	 

	 
	 

	 
	By: /s/ Austin J. Meier                                        

	 
	Name: Austin J. Meier                                
Title: Authorized Signatory

	
		
	 
	ROYAL BANK OF CANADA
as a Funding Agent

	 
	 

	 
	 

	 
	By: /s/ Austin J. Meier                                        

	 
	Name: Austin J. Meier                                
Title: Authorized Signatory

[Signature Page to Fourth Amendment to A&R RPAA]

	
		
	 
	LANDESBANK HESSEN-THÜRINGEN
GIROZENTRALE, 
as a Funding Agent

	 
	 

	 
	 

	 
	By: /s/ Björn Reinecke                                       

	 
	Name: Björn Reinecke
Title: Assistant Vice President

	 
	 

	 
	 

	 
	By: /s/ Bjoern Mollner                                        

	 
	Name: Bjoern Mollner
Title: Vice President

[Signature Page to Fourth Amendment to A&R RPAA]

	
		
	 
	THE BANK OF TOKYO-MITSUBISHI UFJ,
LTD., NEW YORK BRANCH, 
as a Funding Agent

	 
	 

	 
	 

	 
	By: /s/ Luna Mills                                               

	 
	Name: Luna Mills
Title: Managing Director

[Signature Page to Fourth Amendment to A&R RPAA]

	
		
	 
	LLOYDS BANK PLC, 
as a Funding Agent

	 
	 

	 
	 

	 
	By: /s/ Johnathan Ferris                                      

	 
	Name: Johnathan Ferris
Title: Director

[Signature Page to Fourth Amendment to A&R RPAA]Exhibit

EXHIBIT 10.4

DIRECTOR COMPENSATION PROGRAM
T-Mobile US, Inc.
Effective as of May 1, 20131 
The terms of the Director Compensation Program (the “Program”) for Non-Employee Directors of T-Mobile US, Inc. (the “Company”) are set forth herein.  
For purposes of the Program, a “Non-Employee Director” is any director of the Company who is not (i) an employee of the Company or any of its subsidiaries or (ii) an officer or employee of Deutsche Telekom AG or any of its subsidiaries.  
		
	1.
	Eligibility 

Each Non-Employee Director of the Company elected or appointed to the Company’s Board of Directors (the “Board”) shall be eligible to receive the compensation set forth in the Program.
		
	2.
	Non-Employee Director Compensation

Subject to the terms and conditions set forth herein and in the Plan, Non-Employee Directors shall receive the following compensation:
		
	a.
	Cash Compensation

Non-Employee Directors shall receive the following cash compensation, as applicable, to be paid in cash in equal quarterly installments after the end of the quarter in which earned:
	
				
	 
	Annual Retainer for Board Service
	$120,000
	 

	 
	Additional Retainer for Lead Independent Director
	$35,000
	 

	 
	Audit Committee Chair                                                                                                           
	$50,000
	 

	 
	Compensation Committee Chair
	$25,000
	 

	 
	Nominating and Corporate Governance Committee Chair
	$15,000
	 

	 
	Additional Retainer for Audit Committee Members
	$15,000
	 

Any person who becomes a Non-Employee Director and/or committee chair at any time of the year other than the date of the Annual Meeting of Stockholders shall receive a pro rata portion of cash compensation set forth above, as applicable, based on the number of days remaining in the one-year period following the date of the previous Annual Meeting of Stockholders.
If any Non-Employee Director attends more than 10 Board meetings or more than 10 committee meetings during a calendar year, such Director will receive additional compensation of

__________________________
1 Amended June 4, 2014 and further amended on June 1, 2015, June 16, 2016 and June 13, 2017.

(i) $2,000 per meeting for any excess in-person Board or committee meeting or (ii) $1,000 per meeting for any excess telephonic Board or committee meetings.
		
	b.
	Reimbursement of Expenses

The Company shall pay on behalf of, or reimburse, Non-Employee Directors for all reasonable costs and expenses incurred in attending meetings of the Board, Board committees, and the Company’s stockholders and in fulfilling their other responsibilities as directors of the Company.  In addition, the Company shall pay on behalf of, or reimburse, Non-Employee Directors for all reasonable costs and expenses, including an appropriate tax gross up, for spousal or partner travel to one Board meeting per year (or as requested by the Company).  
		
	c.
	Restricted Stock Unit Grants

Immediately after each Annual Meeting of Stockholders beginning with the 2013 Annual Meeting of Stockholders, each Non-Employee Director shall automatically be granted restricted stock units of the Company (“RSUs”) with a value of $195,000 (based on the closing price of the Company’s common stock on the New York Stock Exchange on the grant date), with any fractional share rounded to the nearest whole share; provided, that any person who becomes a Non-Employee Director at any time of the year other than the date of the Annual Meeting of Stockholders shall automatically be granted RSUs equal to the pro rata portion of $195,000 based on the number of days remaining in the one-year period following the date of the most recent previous Annual Meeting of Stockholders, such grant to be effective on the date he or she becomes a Non-Employee Director and based on the closing price of the Company’s common stock on the NASDAQ Global Select Market of The NASDAQ Stock Market LLC on the grant date, with any fractional share rounded to the nearest whole share.
The RSUs shall be fully vested as of the one-year anniversary of the date on which the RSUs were granted, contingent upon the Non-Employee Director’s continuous service on the Board during such period; provided, however, that for a person who becomes a Non-Employee Director at any time other than the date of the Annual Meeting of Stockholders, the vesting date shall be the one-year anniversary of the grant date for awards made in connection with the most recent previous Annual Meeting of Stockholders.  In the event of a Non-Employee Director’s resignation or removal prior to the vesting of the RSUs, such RSUs shall automatically be forfeited to the Company; provided, however, that if a Non-Employee Director serves through the date of an Annual Meeting of Stockholders but does not stand for re-election at that meeting, any RSU award made for the prior year that has not yet vested as of such meeting shall continue to vest per schedule.  In the event of a Non-Employee Director’s death, the RSUs shall immediately vest.
Upon a Change in Control of the Company (as defined in the Company’s Omnibus Incentive Plan), the RSUs shall immediately vest upon the date of such Change in Control.
RSUs shall be granted pursuant to the Company’s Omnibus Incentive Plan (the “Plan”) and shall be subject to the terms and conditions of the Plan and the applicable restricted stock unit agreement in effect on the grant date.  Capitalized terms used but not defined herein shall have the meanings given to them in the Plan.  The above terms supplement, and do not alter or change, the provisions of the Plan.  In the event of any inconsistency between the terms contained herein and in the Plan, the Plan shall govern.
		
	3.
	Amendment

The Board may amend the provisions of the Program in such respects as it deems advisable.  Any such amendment shall not, without the consent of the Non-Employee Director, impair or diminish any rights of the Non-Employee Director under the Program.

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