Document:

Exhibit 4.1

 Exhibit 4.1 

 
  
  

REGISTRATION RIGHTS AGREEMENT 
 Dated as of April 26, 2012 
 Among 

INTELSAT JACKSON HOLDINGS S.A. 
 the PARENT GUARANTORS 
 and 

the SUBSIDIARY GUARANTORS 
 and 
 GOLDMAN, SACHS & CO. 

as Representative of the several Initial Purchasers named on Schedule I 

$1,200,000,000
7 1/4% Senior Notes due 2020 

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	1.	 	Definitions	  	 	1	  
			
	2.	 	Exchange Offer	  	 	5	  
			
	3.	 	Shelf Registration	  	 	9	  
			
	4.	 	Additional Interest	  	 	11	  
			
	5.	 	Registration Procedures	  	 	12	  
			
	6.	 	Registration Expenses	  	 	21	  
			
	7.	 	Indemnification and Contribution.	  	 	22	  
			
	8.	 	Rule 144A	  	 	26	  
			
	9.	 	Underwritten Offerings	  	 	27	  
			
	10.	 	Miscellaneous	  	 	27	  

 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is dated as of April 26, 2012, among Intelsat Jackson
Holdings S.A., a société anonyme existing under the laws of Luxembourg (the “Notes Issuer” ), Intelsat (Luxembourg) S.A., a société anonyme existing under the laws of Luxembourg
(“Intelsat Luxembourg”), Intelsat S.A., a société anonyme existing under the laws of Luxembourg (“Intelsat” and, together with Intelsat Luxembourg, the “Parent Guarantors”), the
subsidiary guarantors listed on Schedule II hereto (the “Subsidiary Guarantors” and, together with the Parent Guarantors, the “Guarantors”) and Goldman, Sachs & Co. as representative (the
“Representative”) of the initial purchasers listed on Schedule I hereto (the “Initial Purchasers”). 
 This Agreement is entered into in connection with the Purchase Agreement among the Notes Issuer, the Guarantors and the Initial Purchasers, dated as of April 12, 2012 (the “Purchase
Agreement”), which provides for, among other things, the sale to the Initial Purchasers by the Notes Issuer of $1,200,000,000 aggregate principal amount of its 7 1/4% Senior Notes due 2020 (the “Additional Notes”).
In order to induce the Representative to enter into the Purchase Agreement, the Notes Issuer and the Guarantors have agreed to provide the registration rights set forth in this Agreement for the benefit of the Initial Purchasers and any subsequent
holder or holders of the Additional Notes. The execution and delivery of this Agreement is a condition to the Initial Purchasers’ obligation to purchase the Additional Notes under the Purchase Agreement. 

On September 30, 2010, the Notes Issuer issued $1,000,000,000 aggregate principal amount of its 7 1/4% Senior Notes due 2020 (the “Initial Notes” and,
together with the Additional Notes, the “Notes”) under the Indenture (as defined below). The Additional Notes will be issued as additional notes pursuant to the Indenture and will be treated as one single class with the Initial
Notes for all purposes under the Indenture. 
 The parties hereby agree as follows: 

 

	 	1.	Definitions 

 As used in
this Agreement, the following terms shall have the following meanings: 
 Additional Interest: See Section 4(a)
hereof. 
 Additional Notes: See the introductory paragraphs hereof. 

Advice: See the last paragraph of Section 5 hereof. 

  
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 Agreement: See the introductory paragraphs hereof. 

Applicable Period: See Section 2(b) hereof. 
 Authorized Agent: See Section 10(m) hereof. 
 Business Day: Any
day that is not a Saturday, Sunday or a legal holiday or day on which banking institutions or trust companies in New York City are authorized or required by law to be closed. 
 DTC: The Depository Trust Company. 
 Effectiveness Period: See
Section 3(a) hereof. 
 Event Date: See Section 4(b) hereof. 

Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.

 Exchange Notes: See Section 2(a) hereof. 

Exchange Offer: See Section 2(a) hereof. 
 Exchange Offer Registration Statement: See Section 2(a) hereof. 

FINRA: See Section 5(s) hereof. 
 Holder: Any holder of a Registrable Note or Registrable Notes. 

Indenture: The indenture, dated as of September 30, 2010 by and among the Notes Issuer, the Parent Guarantors, the Subsidiary
Guarantors and Wells Fargo Bank, National Association, as Trustee, pursuant to which the Initial Notes were issued and the Additional Notes are being issued, as amended or supplemented from time to time in accordance with the terms thereof.

 Information: See Section 5(o) hereof. 
 Initial Notes: See the introductory paragraphs hereof. 
 Initial
Purchasers: See the introductory paragraphs hereof. 
 Initial Shelf Registration: See Section 3(a) hereof.

 Inspectors: See Section 5(o) hereof. 

  
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 Issue Date: The date hereof, which is the date of original issuance of the Additional
Notes. 
 Issuers: Has the meaning set forth in the Purchase Agreement. 

Notes: See the introductory paragraphs hereof. 
 Notes Issuer: See the introductory paragraphs hereof. 
 Participant:
See Section 7(a) hereof. 
 Participating Broker-Dealer: See Section 2(b) hereof. 

Person: An individual, trustee, corporation, partnership, limited liability company, joint stock company, trust, unincorporated
association, union, business association, firm or other legal entity. 
 Private Exchange: See Section 2(b) hereof.

 Private Exchange Notes: See Section 2(b) hereof. 

Prospectus: The prospectus included in any Registration Statement (including, without limitation, any prospectus subject to
completion and a prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A under the Securities Act and any “issuer free writing
prospectus” as defined in Rule 433 under the Securities Act), as amended or supplemented by any prospectus supplement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material
incorporated by reference or deemed to be incorporated by reference in such Prospectus. For the avoidance of doubt, nothing in this Agreement shall create any obligation for the Notes Issuer to produce a prospectus for offers of securities under
Directive 2003/71/EC (and amendments thereto), as implemented in the Member States of the European Economic Area. 
 Purchase
Agreement: See the introductory paragraphs hereof. 
 Records: See Section 5(o) hereof. 

Registrable Notes: Each Additional Note upon its original issuance and at all times subsequent thereto, each Exchange Note as to
which Section 2(c)(iv) hereof is applicable upon original issuance and at all times subsequent thereto and each Private Exchange Note upon original issuance thereof and at all times subsequent thereto, until, in each case, the earliest to occur
of (i) a Registration Statement (other than, with respect to any Exchange Note as to which Section 2(c)(iv) hereof is applicable, the Exchange Offer Registration Statement) covering such Additional Note, Exchange Note or Private Exchange

  
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 Note has been declared effective by the SEC and such Additional Note, Exchange Note or such Private Exchange
Note, as the case may be, has been disposed of in accordance with such effective Registration Statement or (ii) the date on which such Additional Notes cease to be outstanding. 

Registration Statement: Any registration statement of the Notes Issuer that covers any of the Additional Notes, the Exchange Notes
or the Private Exchange Notes filed with the SEC under the Securities Act, including the Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all exhibits thereto and all material incorporated
by reference or deemed to be incorporated by reference in such registration statement. 
 Regulatory Requirements: See
the last paragraph of Section 1 hereof. 
 Representatives: See the introductory paragraphs hereof. 

Rule 144: Rule 144 under the Securities Act. 
 Rule 144A: Rule 144A under the Securities Act. 
 Rule 405:
Rule 405 under the Securities Act. 
 Rule 415: Rule 415 under the Securities Act. 

Rule 424: Rule 424 under the Securities Act. 
 SEC: The U.S. Securities and Exchange Commission. 
 Securities Act:
The Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder. 
 Shelf Notice:
See Section 2(c) hereof. 
 Shelf Registration: See Section 3(b) hereof. 

Shelf Registration Statement: Any Registration Statement relating to a Shelf Registration. 

Shelf Suspension Period: See Section 3(a) hereof. 
 Subsequent Shelf Registration: See Section 3(b) hereof. 
 TIA:
The Trust Indenture Act of 1939, as amended, and the rules and regulations of the SEC promulgated thereunder. 

  
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 Trustee: The trustee under the Indenture and the trustee (if any) under any indenture
governing the Exchange Notes and Private Exchange Notes. 
 Underwritten offering: An offering in which securities of an
Issuer are sold to an underwriter for reoffering to the public and which offering is registered with the SEC. 
 Except as
otherwise specifically provided, all references in this Agreement to acts, laws, statutes, rules, regulations, releases, forms, no-action letters and other regulatory requirements (collectively, “Regulatory Requirements”) shall be
deemed to refer also to any amendments thereto and all subsequent Regulatory Requirements adopted as a replacement thereto having substantially the same effect therewith; provided that Rule 144 shall not be deemed to amend or replace
Rule 144A. 
  

	 	2.	Exchange Offer 

 (a)
Unless the Exchange Offer would violate applicable law or any applicable interpretation of the staff of the SEC, the Notes Issuer shall use its commercially reasonable efforts to file with the SEC (within such time as to comply with the requirements
of the last sentence of this paragraph) a Registration Statement (the “Exchange Offer Registration Statement”) on an appropriate registration form with respect to a registered offer (the “Exchange Offer”) to
exchange any and all of the Registrable Notes for a like aggregate principal amount of debt securities of the Notes Issuer (the “Exchange Notes”), that are identical in all material respects to the Additional Notes, except that
(i) the Exchange Notes shall contain no restrictive legend thereon, (ii) subject to compliance herewith, the Exchange Notes shall not be subject to any increase in annual interest rate as set forth in Section 4(a) hereof and
(iii) interest thereon shall accrue from the last date on which interest was paid on the Additional Notes or, if no such interest has been paid, from the Issue Date, and which are entitled to the benefits of the Indenture or a trust indenture
which is identical in all material respects to the Indenture (other than such changes to the Indenture or any such identical trust indenture as are necessary to comply with the TIA) and which, in either case, has been qualified under the TIA. The
Exchange Offer shall comply with all applicable tender offer rules and regulations under the Exchange Act and other applicable laws. The Notes Issuer shall (x) use its commercially reasonable efforts to cause the Exchange Offer Registration
Statement to be declared effective under the Securities Act; (y) keep the Exchange Offer open for at least 20 Business Days (or longer if required by applicable law) after the date that notice of the Exchange Offer is mailed to Holders; and
(z) use its commercially reasonable efforts to consummate the Exchange Offer within 395 days of the Issue Date of the Additional Notes (or if such 395th day is not a Business Day, the next succeeding Business Day). 

Each Holder (including, without limitation, each Participating Broker-Dealer) who participates in the Exchange Offer will be required to
represent to the Notes Issuer in writing (which may be contained in the applicable letter of transmittal) that: (i) any Exchange Notes acquired in exchange for Registrable Notes tendered are being acquired in the ordinary

  
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course of business of the Person receiving such Exchange Notes, whether or not such recipient is such Holder itself; (ii) at the time of the commencement or consummation of the Exchange
Offer neither such Holder nor, to the actual knowledge of such Holder, any other Person receiving Exchange Notes from such Holder has an arrangement or understanding with any Person to participate in the distribution of the Exchange Notes in
violation of the provisions of the Securities Act; (iii) neither the Holder nor, to the actual knowledge of such Holder, any other Person receiving Exchange Notes from such Holder is an “affiliate” (as defined in Rule 405) of any
Issuer or, if it is an affiliate of any Issuer, it will comply with the registration and prospectus delivery requirements of the Securities Act to the extent applicable and will provide information to be included in the Shelf Registration Statement
in accordance with Section 5 hereof in order to have its Additional Notes included in the Shelf Registration Statement and benefit from the provisions regarding Additional Interest in Section 4 hereof; (iv) neither such Holder nor, to
the actual knowledge of such Holder, any other Person receiving Exchange Notes from such Holder is engaging in or intends to engage in a distribution of the Exchange Notes; (v) neither the Holder nor, to the actual knowledge of such Holder, any
other Person receiving Exchange Notes from such Holder is prohibited by any law or policy of the SEC from participating in the Exchange Offer; and (vi) if such Holder is a Participating Broker-Dealer, such Holder has acquired the Registrable
Notes as a result of market-making activities or other trading activities and that it will comply with the applicable provisions of the Securities Act (including, but not limited to, the prospectus delivery requirements thereunder). 

Upon consummation of the Exchange Offer in accordance with this Section 2, the provisions of this Agreement shall continue to apply,
mutatis mutandis, solely with respect to Registrable Notes that are Private Exchange Notes, Exchange Notes as to which Section 2(c)(iv) is applicable and Exchange Notes held by Participating Broker-Dealers; provided,
however, that the Notes Issuer shall have no further obligation to register Registrable Notes, or file any Registration Statement in respect thereof, (other than Private Exchange Notes and Exchange Notes as to which clause 2(c)(iv)
hereof applies) pursuant to this Agreement. 
 No securities other than the Exchange Notes shall be included in the Exchange
Offer Registration Statement. 
 (b) The Notes Issuer shall include within the Prospectus contained in the Exchange Offer
Registration Statement a section entitled “Plan of Distribution,” reasonably acceptable to the Initial Purchasers, which shall contain a summary statement of the positions taken or policies made by the staff of the SEC with respect to the
potential “underwriter” status of any broker-dealer that is the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of Exchange Notes received by such broker-dealer in the Exchange Offer (a
“Participating Broker-Dealer”), whether such positions or policies have been publicly disseminated by the staff of the SEC or such positions or policies represent the prevailing

  
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views of the staff of the SEC. Such “Plan of Distribution” section shall also expressly permit, to the extent permitted by applicable policies and regulations of the SEC, the use of the
Prospectus by all Persons subject to the prospectus delivery requirements of the Securities Act, including, to the extent permitted by applicable policies and regulations of the SEC, all Participating Broker-Dealers, and include a statement
describing the means by which Participating Broker-Dealers may resell the Exchange Notes in compliance with the Securities Act. 

The Notes Issuer shall use its commercially reasonable efforts to keep the Exchange Offer Registration Statement effective and to amend
and supplement the Prospectus contained therein in order to permit such Prospectus to be lawfully delivered by all Persons subject to the prospectus delivery requirements of the Securities Act for such period of time as is necessary to comply with
applicable law in connection with any resale of the Exchange Notes; provided, however, that such period shall not be required to exceed 90 days or such longer period if extended pursuant to the last paragraph of Section 5 hereof
(the “Applicable Period”). 
 If, prior to consummation of an Exchange Offer, the Initial Purchasers hold any
Additional Notes acquired by them that have the status of an unsold allotment in the initial distribution, the Notes Issuer, upon the request of the Initial Purchasers, shall simultaneously with the delivery of the Exchange Notes issue and deliver
to the Initial Purchasers, in exchange (the “Private Exchange”) for such Additional Notes held by any such Holder, a like principal amount of notes (the “Private Exchange Notes”) of the Notes Issuer, that are
identical in all material respects to the Exchange Notes except for the placement of a restrictive legend on such Private Exchange Notes. The Private Exchange Notes shall be issued pursuant to the same indenture as the Exchange Notes and bear the
same CUSIP number as the Exchange Notes if permitted by the CUSIP Service Bureau. 
 In connection with the Exchange Offer, the
Notes Issuer shall: 
 (1) mail, or cause to be mailed, to each Holder of record entitled to participate in the
Exchange Offer a copy of the Prospectus forming part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal and related documents; 

(2) use its commercially reasonable efforts to keep the Exchange Offer open for not less than 20 Business Days after the
date that notice of the Exchange Offer is mailed to Holders (or longer if required by applicable law); 
 (3)
utilize the services of a depositary for the Exchange Offer with an address in the Borough of Manhattan, The City of New York; 

  
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 (4) permit Holders to withdraw tendered Additional Notes at any time prior
to the close of business, New York time, on the last Business Day on which the Exchange Offer remains open; and 

(5) otherwise comply in all material respects with all applicable laws, rules and regulations. 

As soon as practicable after the close of the Exchange Offer and the Private Exchange, if any, the Notes Issuer shall: 

(1) accept for exchange all Registrable Notes validly tendered and not validly withdrawn pursuant to the Exchange Offer
and the Private Exchange, if any; 
 (2) deliver to the Trustee for cancellation all Registrable Notes so
accepted for exchange; and 
 (3) cause the Trustee to authenticate and deliver promptly to each Holder of
Additional Notes, a principal amount of Exchange Notes or Private Exchange Notes, as the case may be, equal in principal amount to the Additional Notes of such Holder so accepted for exchange; provided that, in the case of any Additional
Notes held in global form by a depositary, authentication and delivery to such depositary of one or more replacement Additional Notes in global form in an equivalent principal amount thereto for the account of such Holders in accordance with the
Indenture shall satisfy such authentication and delivery requirement. 
 The Exchange Offer and the Private Exchange shall not
be subject to any conditions, other than that (i) the Exchange Offer or Private Exchange, as the case may be, does not violate applicable law or any applicable interpretation of the staff of the SEC; (ii) no action or proceeding shall have
been instituted or threatened in any court or by any governmental agency which might materially impair the ability of the Issuers to proceed with the Exchange Offer or the Private Exchange, and no material adverse development shall have occurred in
any existing action or proceeding with respect to the Issuers; and (iii) all governmental approvals shall have been obtained, which approvals the Issuers deems necessary for the consummation of the Exchange Offer or Private Exchange.

 The Exchange Notes and the Private Exchange Notes shall be issued under (i) the Indenture or (ii) indentures
identical in all material respects to the Indenture and which, in either case, have been qualified under the TIA or are exempt from such qualification and shall provide that the Exchange Notes shall not be subject to the transfer restrictions set
forth in the Indenture. The Indenture or such indentures shall provide that the Exchange Notes, the Private Exchange Notes and the Additional Notes outstanding shall vote and consent together on all matters as one class and that none of the Exchange
Notes, the Private Exchange Notes or the Additional Notes outstanding will have the right to vote or consent as a separate class on any matter. 

  
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 (c) If, (i) because of any change in law or in currently prevailing interpretations of
the staff of the SEC, any Issuer determines upon advice of its outside counsel that it is not permitted to effect the Exchange Offer, (ii) the Exchange Offer is not consummated within 395 days of the Issue Date, (iii) the Initial
Purchasers or any other holder of Private Exchange Notes so requests in writing to the Notes Issuer at any time after the consummation of the Exchange Offer or (iv) in the case of any Holder that participates in the Exchange Offer, such Holder
does not receive Exchange Notes on the date of the exchange that may be sold without restriction under U.S. state and federal securities laws (other than due solely to the status of such Holder as an affiliate of any Issuer within the meaning of the
Securities Act and other than any Participating Broker-Dealer by virtue of any prospectus delivery requirement) and so notifies the Notes Issuer prior to the 20th Business Day following consummation of the Exchange Offer of such restrictions, in the
case of each of clauses (i) to and including (iv) of this sentence, then the Notes Issuer shall promptly deliver to the Holders and the Trustee written notice thereof (the “Shelf Notice”) and the Notes Issuer shall file a
Shelf Registration pursuant to Section 3 hereof; provided, however, that no Holder (other than an Initial Purchaser) shall be entitled to have the Additional Notes held by it covered by such Shelf Registration unless such Holder
agrees in writing to be bound by all of the provisions of this Agreement applicable to such Holder. 
  

	 	3.	Shelf Registration 

 If at
any time a Shelf Notice is delivered as contemplated by Section 2(c) hereof, then: 
 (a) Shelf
Registration. The Issuers shall as promptly as practicable file with the SEC a Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 covering all of the Registrable Notes (the “Initial Shelf
Registration”). The Notes Issuer shall use its commercially reasonable efforts to file with the SEC the Initial Shelf Registration. The Initial Shelf Registration shall be on Form S-1 or another appropriate form permitting registration of
the Registrable Notes for resale by Holders in the manner or manners designated by them (including, without limitation, one or more underwritten offerings). The Notes Issuer shall not permit any securities other than the Registrable Notes to be
included in the Initial Shelf Registration or any Subsequent Shelf Registration (as defined below). 
 The Notes
Issuer shall use its commercially reasonable efforts to cause the Shelf Registration to be declared effective under the Securities Act within 395 days of the Issue Date and to keep the Initial Shelf Registration continuously effective under the
Securities Act until the date that is three years from the Issue Date or such shorter period ending when all Registrable Notes covered by the Initial Shelf Registration 

  
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have been sold in the manner set forth and as contemplated in the Initial Shelf Registration or, if applicable, a Subsequent Shelf Registration (the “Effectiveness Period”);
provided, however, that the Effectiveness Period in respect of the Initial Shelf Registration shall be extended to the extent required to permit dealers to comply with the applicable prospectus delivery requirements of Rule 174 under
the Securities Act and as otherwise provided herein and shall be subject to reduction to the extent that the Additional Notes, Exchange Notes or Private Exchange Notes, as applicable, covered by the Shelf Registration Statement become eligible for
resale, without regard to volume, manner of sale or other restrictions contained in Rule 144. Notwithstanding anything to the contrary in this Agreement, at any time, the Notes Issuer may delay the filing of any Initial Shelf Registration
Statement or delay or suspend the effectiveness thereof, for a reasonable period of time, but not in excess of an aggregate of 90 days in any calendar year (a “Shelf Suspension Period”), if the Board of Directors of the Notes Issuer
determines reasonably and in good faith that the filing of any such Initial Shelf Registration Statement or the continuing effectiveness thereof would require the disclosure of non-public material information that, in the reasonable judgment of the
Board of Directors of the Notes Issuer, would be detrimental to the Notes Issuer (or to any of the Parent Guarantors, if such Parent Guarantor’s guarantee of the Additional Notes is then in effect) if so disclosed or would otherwise materially
adversely affect a financing, acquisition, disposition, merger or other material transaction. 
 (b)
Withdrawal of Stop Orders; Subsequent Shelf Registrations. If the Initial Shelf Registration or any Subsequent Shelf Registration ceases to be effective for any reason at any time during the Effectiveness Period (other than during a Shelf
Suspension Period or because of the sale of all of the Additional Notes registered thereunder), the Notes Issuer shall use its commercially reasonable efforts to obtain the prompt withdrawal of any order suspending the effectiveness thereof, and in
any event shall within 30 days of such cessation of effectiveness amend such Shelf Registration Statement in a manner to obtain the withdrawal of the order suspending the effectiveness thereof, or file an additional Shelf Registration Statement
pursuant to Rule 415 covering all of the Registrable Notes covered by and not sold under the Initial Shelf Registration or an earlier Subsequent Shelf Registration (each, a “Subsequent Shelf Registration”). If a Subsequent Shelf
Registration is filed, the Notes Issuer, other than during a Shelf Suspension Period, shall use its commercially reasonable efforts to cause the Subsequent Shelf Registration to be declared effective under the Securities Act as soon as practicable
after such filing and to keep such subsequent Shelf Registration continuously effective for a period equal to the number of days in the Effectiveness Period less the aggregate number of days during which the Initial Shelf Registration and any
Subsequent Shelf Registration was previously continuously effective. As used herein the term “Shelf Registration” means the Initial Shelf Registration and any Subsequent Shelf Registration. 

  
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 (c) Supplements and Amendments. The Notes Issuer shall promptly
supplement and amend the Shelf Registration if required by the rules, regulations or instructions applicable to the registration form used for such Shelf Registration, if required by the Securities Act, or if reasonably requested by the Holders of a
majority in aggregate principal amount of the Registrable Notes (or their counsel) covered by such Registration Statement with respect to the information included therein with respect to one or more of such Holders, or by any underwriter of such
Registrable Notes with respect to the information included therein with respect to such underwriter. 
  

	 	4.	Additional Interest 

 (a)
The Notes Issuer and the Initial Purchasers agree that the Holders will suffer damages if the Notes Issuer fails to fulfill its obligations under Section 2 or Section 3 hereof and that it would not be feasible to ascertain the extent of
such damages with precision. Accordingly, the Notes Issuer agrees to pay, as liquidated damages, additional interest on the Registrable Notes (“Additional Interest”) under the circumstances and to the extent set forth below (each of
which shall be given independent effect): 
 (i) if neither (x) the Exchange Offer is completed, nor
(y) if required, the Shelf Registration Statement is declared effective, within, in each case, 395 days of the Issue Date, then Additional Interest shall accrue on the Registrable Notes at a rate of 0.25% per annum on the principal amount
of such Registrable Notes for the first 90 days from and including such specified date and increasing by an additional 0.25% per annum at the beginning of each subsequent 90-day period thereafter; provided that Additional Interest in the
aggregate under this Section 4 may not exceed 1.00% per annum of the principal amount of such Registrable Notes; or 
 (ii) notwithstanding that the Notes Issuer has consummated or will consummate an Exchange Offer, if the Notes Issuer is required to file a Shelf Registration Statement and such Shelf Registration
Statement is not declared effective on or prior to the 395th day following the Issue Date, then Additional Interest shall accrue on the Registrable Notes at a rate of 0.25% per annum of the principal amount of such Registrable Notes for the
first 90 days from and including such specified date and increasing by an additional 0.25% per annum at the beginning of each subsequent 90-day period thereafter; provided that Additional Interest in the aggregate under this
Section 4 may not exceed 1.00% per annum of the principal amount of such Registrable Notes; or 
 (iii)
if the Shelf Registration Statement required by Section 3(a) of this Agreement has been declared effective but thereafter ceases to be effective at any time at which it is required to be effective under this Agreement and such failure to remain
effective exists for more than the number of days permitted by the second paragraph 

  
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of Section 3(a) hereof, then commencing on the first day following the date on which such Shelf Registration Statement ceases to be effective that exceeds the number of days permitted by the
second paragraph of Section 3(a) hereof, Additional Interest shall accrue on the Registrable Notes at a rate of 0.25% per annum of the principal amount of such Notes for the first 90 days from and including such day, as applicable,
following the date on which such Shelf Registration Statement ceases to be effective and increasing by an additional 0.25% per annum at the beginning of each subsequent 90-day period thereafter; provided that Additional Interest in the
aggregate under this Section 4 may not exceed 1.00% per annum of the principal amount of such Registrable Notes; 
 provided,
however, that upon (1) the completion of the Exchange Offer (in the case of paragraph (i) above), (2) the effectiveness of the Shelf Registration Statement (in the case of paragraph (ii) above) and (3) the
effectiveness of the Shelf Registration Statement which had ceased to remain effective (in the case of paragraph (iii) above), Additional Interest shall cease to accrue. 
 (b) The Notes Issuer shall notify the Trustee within one Business Day after each and every date on which an event occurs in respect of which Additional Interest is required to be paid (an “Event
Date”) and within one Business Day after such Additional Interest ceases to accrue. Any amounts of Additional Interest due pursuant to (a)(i), (a)(ii) or (a)(iii) of this Section 4 will be payable in cash semiannually on the payment
dates stated in the Indenture (to the holders of record on the March 15 and September 15 immediately preceding such dates), commencing with the first such date occurring after any such Additional Interest commences to accrue. The amount of
Additional Interest will be determined by multiplying the applicable Additional Interest rate by the principal amount of the Registrable Notes, multiplied by a fraction, the numerator of which is the number of days such Additional Interest rate was
applicable during such period (determined on the basis of a 360 day year comprised of twelve 30 day months and, in the case of a partial month, the actual number of days elapsed), and the denominator of which is 360. 

 

	 	5.	Registration Procedures 

In connection with the filing of any Registration Statement pursuant to Section 2 or 3 hereof, the Notes Issuer shall effect such
registrations to permit the sale of the securities covered thereby in accordance with the intended method or methods of disposition thereof, and pursuant thereto and in connection with any Registration Statement filed by the Notes Issuer hereunder,
the Notes Issuer shall (other than during any Shelf Suspension Period): 
 (a) Prepare and file with the SEC a
Registration Statement or Registration Statements as prescribed by Section 2 or 3 hereof, and use its commercially reasonable efforts to cause each such Registration Statement to become effective and remain

  
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effective as provided herein; provided, however, that if (1) such filing is pursuant to Section 3 hereof or (2) a Prospectus contained in the Exchange Offer
Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto from whom the Notes
Issuer has received prior written notice that it will be a Participating Broker-Dealer in the Exchange Offer, before filing any Registration Statement or Prospectus or any amendments or supplements thereto, the Notes Issuer shall furnish to and
afford the Holders of the Registrable Notes covered by such Registration Statement (with respect to a Registration Statement filed pursuant to Section 3 hereof) or each such Participating Broker-Dealer (with respect to any such Registration
Statement), as the case may be, their counsel and the managing underwriters, if any, a reasonable opportunity to review copies of all such documents (including copies of any documents to be incorporated by reference therein and all exhibits thereto)
proposed to be filed (in each case at least two Business Days prior to such filing). 
 (b) Prepare and file with
the SEC such amendments and post-effective amendments to each Shelf Registration Statement or Exchange Offer Registration Statement, as the case may be, as may be necessary to keep such Registration Statement continuously effective for the
Effectiveness Period, the Applicable Period or until consummation of the Exchange Offer, as the case may be; cause the related Prospectus to be supplemented by any prospectus supplement required by applicable law, and as so supplemented to be filed
pursuant to Rule 424; and comply with the provisions of the Securities Act and the Exchange Act applicable to it with respect to the disposition of all securities covered by such Registration Statement as so amended or in such Prospectus as so
supplemented and with respect to the subsequent resale of any securities being sold by an Participating Broker-Dealer covered by any such Prospectus. The Notes Issuer shall be deemed not to have used its commercially reasonable efforts to keep a
Registration Statement effective if the Notes Issuer voluntarily takes any action that would result in selling Holders of the Registrable Notes covered thereby or Participating Broker-Dealers seeking to sell Exchange Notes not being able to sell
such Registrable Notes or such Exchange Notes during that period unless such action is required by applicable law or permitted by this Agreement. 
 (c) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is
required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto from whom the Notes Issuer has received written notice that it will be a
Participating Broker-Dealer in the Exchange Offer, notify the selling Holders of Registrable Notes (with respect to a Registration Statement filed pursuant to 

  
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Section 3 hereof), or each such Participating Broker-Dealer (with respect to any such Registration Statement), as the case may be, their counsel and the managing underwriters, if any,
promptly (but in any event within one Business Day), and confirm such notice in writing, (i) when a Prospectus or any prospectus supplement or post-effective amendment has been filed, and, with respect to a Registration Statement or any
post-effective amendment, when the same has become effective under the Securities Act (including in such notice a written statement that any Holder may, upon request, obtain, at the sole expense of the Notes Issuer, one conformed copy of such
Registration Statement or post-effective amendment including financial statements and schedules, documents incorporated or deemed to be incorporated by reference, if any, and exhibits), (ii) of the issuance by the SEC of any stop order
suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of any preliminary prospectus or the initiation of any proceedings for that purpose, (iii) if at any time when a prospectus is required by
the Securities Act to be delivered in connection with sales of the Registrable Notes or resales of Exchange Notes by Participating Broker-Dealers the representations and warranties of the Notes Issuer contained in any agreement (including any
underwriting agreement) contemplated by Section 5(n) hereof cease to be true and correct in all material respects, (iv) of the receipt by the Notes Issuer of any notification with respect to the suspension of the qualification or exemption
from qualification of a Registration Statement or any of the Registrable Notes or the Exchange Notes to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the initiation or threatening of any proceeding for such
purpose, (v) of the happening of any event, the existence of any condition or any information becoming known that makes any statement made in such Registration Statement or related Prospectus or any document incorporated or deemed to be
incorporated therein by reference untrue in any material respect or that requires the making of any changes in or amendments or supplements to such Registration Statement, Prospectus or documents so that, in the case of the Registration Statement,
it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the Prospectus, it will not contain any
untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (vi) of the
Notes Issuer’s determination that a post-effective amendment to a Registration Statement would be appropriate. 
 (d)Use its commercially reasonable efforts to prevent the issuance of any order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of a Prospectus or
suspending the qualification (or exemption from qualification) of any of the Registrable Notes or the Exchange Notes to be sold by any Participating Broker-Dealer, for sale in any jurisdiction, and, if any such order is issued, to use its
commercially reasonable efforts to obtain the withdrawal of any such order at the earliest practicable moment. 

  
 14 

 (e) If a Shelf Registration is filed pursuant to Section 3 and if
requested during the Effectiveness Period by the managing underwriter or underwriters (if any), the Holders of a majority in aggregate principal amount of the Registrable Notes being sold in connection with an underwritten offering or any
Participating Broker-Dealer, give due and prompt consideration to (i) incorporating in a prospectus supplement or post-effective amendment such information as the managing underwriter or underwriters (if any), such Holders, any Participating
Broker-Dealer or counsel for any of them reasonably request to be included therein, (ii) making all required filings of such prospectus supplement or such post-effective amendment as soon as practicable after the Notes Issuer has received
notification of the matters to be incorporated in such prospectus supplement or post-effective amendment, and (iii) supplementing or making amendments to such Registration Statement. 

(f) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the
Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, furnish to each
selling Holder of Registrable Notes (with respect to a Registration Statement filed pursuant to Section 3 hereof) and to each such Participating Broker-Dealer who so requests in writing (with respect to any such Registration Statement) and to
their respective counsel and each managing underwriter, if any, at the sole expense of the Notes Issuer, one conformed copy of the Registration Statement or Registration Statements and each post-effective amendment thereto, including financial
statements and schedules, and, if requested, all documents incorporated or deemed to be incorporated therein by reference, if any, and all exhibits. 
 (g) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is
required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, deliver to each selling Holder of Registrable Notes (with respect to a Registration Statement filed
pursuant to Section 3 hereof), or each such Participating Broker-Dealer (with respect to any such Registration Statement), as the case may be, their respective counsel, and the underwriters, if any, at the sole expense of the Notes Issuer, as
many copies of the Prospectus or Prospectuses (including each form of preliminary prospectus) and each amendment or supplement thereto and any documents incorporated by reference therein, if any, as such Persons may reasonably request in writing;
and, subject to the last paragraph of this Section 5, the Notes Issuer 

  
 15 

 
hereby consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Holders of Registrable Notes or each such Participating Broker-Dealer, as the case
may be, and the underwriters or agents, if any, and dealers, if any, in connection with the offering and sale of the Registrable Notes covered by, or the sale by Participating Broker-Dealers of the Exchange Notes pursuant to, such Prospectus and any
amendment or supplement thereto. 
 (h) Prior to any public offering of Registrable Notes or any delivery of a
Prospectus contained in the Exchange Offer Registration Statement by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, use its commercially reasonable efforts to register or qualify, and to cooperate with
the selling Holders of Registrable Notes or each such Participating Broker-Dealer, as the case may be, the managing underwriter or underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption
from such registration or qualification) of such Registrable Notes for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any selling Holder, Participating Broker-Dealer, or the managing
underwriter or underwriters reasonably request in writing; provided, however, that where Exchange Notes held by Participating Broker-Dealers or Registrable Notes are offered other than through an underwritten offering, the Notes Issuer
agrees to cause its counsel to perform Blue Sky investigations and file registrations and qualifications required to be filed pursuant to this Section 5(h), keep each such registration or qualification (or exemption therefrom) effective during
the period such Registration Statement is required to be kept effective and do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Exchange Notes held by Participating Broker-Dealers or the
Registrable Notes covered by the applicable Registration Statement; provided, further, that the Notes Issuer shall not be required to (A) qualify generally to do business in any jurisdiction where it is not then so qualified,
(B) take any action that would subject it to general service of process in any such jurisdiction where it is not then so subject or (C) subject itself to taxation in any such jurisdiction where it is not then so subject. 

(i) If a Shelf Registration is filed pursuant to Section 3 hereof, cooperate with the selling Holders of Registrable
Notes and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates for the Registrable Notes to be sold, which certificates shall not bear any restrictive legends and shall be in a form
eligible for deposit with DTC; and enable such Registrable Notes to be in such denominations (subject to applicable requirements contained in the Indenture) and registered in such names as the managing underwriter or underwriters, if any, or Holders
may request. 

  
 16 

 (j) Use its commercially reasonable efforts to cause the Registrable Notes
covered by the Registration Statement to be registered with or approved by such other U.S. federal or state governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter or underwriters, if any,
to consummate the disposition of such Registrable Notes, except as may be required solely as a consequence of the nature of such selling Holder’s business, in which case the Notes Issuer will cooperate in all respects with the filing of such
Registration Statement and the granting of such approvals. 
 (k) If (1) a Shelf Registration is filed
pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who
seeks to sell Exchange Notes during the Applicable Period, upon the occurrence of any event contemplated by paragraph 5(c)(v) or 5(c)(vi) hereof, as promptly as practicable prepare and (subject to Section 5(a) hereof) file with the SEC, at
the sole expense of the Notes Issuer, a supplement or post-effective amendment to the Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, or file any other
required document so that, as thereafter delivered to the purchasers of the Registrable Notes being sold thereunder (with respect to a Registration Statement filed pursuant to Section 3 hereof) or to the purchasers of the Exchange Notes to whom
such Prospectus will be delivered by a Participating Broker-Dealer (with respect to any such Registration Statement), any such Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 
 (l) Use its commercially reasonable efforts to cause the Registrable Notes covered by a Registration Statement or the Exchange Notes, as the case may be, to be rated with the appropriate rating agencies,
if so requested by the Holders of a majority in aggregate principal amount of Registrable Notes covered by such Registration Statement or the Exchange Notes, as the case may be, or the managing underwriter or underwriters, if any. 

(m) Prior to the effective date of the first Registration Statement relating to the Registrable Notes, (i) provide
the Trustee with certificates for the Registrable Notes in a form eligible for deposit with DTC and (ii) provide a CUSIP number for the Registrable Notes. 
 (n) In connection with any underwritten offering of Registrable Notes pursuant to a Shelf Registration, if requested by the managing underwriter or underwriters, enter into an underwriting agreement as is
customary in underwritten offerings of debt securities similar to the Additional Notes, and take all such other 

  
 17 

 
actions as are reasonably requested by the managing underwriter or underwriters in order to expedite or facilitate the registration or the disposition of such Registrable Notes and, in such
connection, (i) make such representations and warranties to, and covenants with, the underwriters with respect to the business of the Issuers (including any acquired business, properties or entity, if applicable), and the Registration
Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, as are customarily made by issuers to underwriters in underwritten offerings of debt securities similar to the Additional
Notes, and confirm the same in writing if and when requested; (ii) obtain the written opinions of counsel to the Notes Issuer, and written updates thereof in form, scope and substance reasonably satisfactory to the managing underwriter or
underwriters, addressed to the underwriters covering the matters customarily covered in opinions reasonably requested in underwritten offerings; (iii) obtain “cold comfort” letters and updates thereof in form, scope and substance
reasonably satisfactory to the managing underwriter or underwriters from the independent certified public accountants of the Notes Issuer or a Parent Guarantor, (and, if necessary, any other independent certified public accountants of the Notes
Issuer or a Parent Guarantor, or of any business acquired by the Notes Issuer or a Guarantor, for which financial statements and financial data are, or are required to be, included or incorporated by reference in the Registration Statement),
addressed to each of the underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with underwritten offerings of debt securities similar to the
Additional Notes; and (iv) if an underwriting agreement is entered into, the same shall contain indemnification provisions and procedures no less favorable to the sellers and underwriters, if any, than those set forth in Section 7 hereof
(or such other provisions and procedures reasonably acceptable to Holders of a majority in aggregate principal amount of Registrable Notes covered by such Registration Statement and the managing underwriter or underwriters or agents, if any). The
above shall be done at each closing under such underwriting agreement, or as and to the extent required thereunder. 
 (o) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is
required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, make available for inspection by the Initial Purchaser, any selling Holder of such Registrable Notes
being sold (with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such Participating Broker-Dealer, as the case may be, any underwriter participating in any such disposition of Registrable Notes, if any, and any
attorney, accountant or other agent retained by any such selling Holder or each such Participating Broker-Dealer (with respect to any such Registration Statement), as the case may be, or underwriter (any such Initial Purchasers, Holders,

  
 18 

 
Participating Broker-Dealers, underwriters, attorneys, accountants or agents, collectively, the “Inspectors”), upon written request, at the offices where normally kept, during
reasonable business hours, all pertinent financial and other records, pertinent corporate documents and instruments of the Issuers and subsidiaries of the Issuers (collectively, the “Records”), as shall be reasonably necessary to
enable them to exercise any applicable due diligence responsibilities, and cause the officers, directors and employees of the Notes Issuer and any of their subsidiaries to supply all information (“Information”) reasonably requested
by any such Inspector in connection with such due diligence responsibilities. Each Inspector shall agree in writing that it will keep the Records and Information confidential and that it will not disclose any of the Records or Information that any
of the Issuers determine, in good faith, to be confidential and notifies the Inspectors in writing are confidential unless (i) the disclosure of such Records or Information is necessary to avoid or correct a misstatement or omission in such
Registration Statement or Prospectus, (ii) the release of such Records or Information is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, (iii) disclosure of such Records or Information is necessary or
advisable, in the opinion of counsel for any Inspector, in connection with any action, claim, suit or proceeding, directly or indirectly, involving or potentially involving such Inspector and arising out of, based upon, relating to, or involving
this Agreement or the Purchase Agreement, or any transactions contemplated hereby or thereby or arising hereunder or thereunder, or (iv) the information in such Records or Information has been made generally available to the public other than
by an Inspector or an “affiliate” (as defined in Rule 405) thereof; provided, however, that prior notice shall be provided as soon as practicable to the Issuers of the potential disclosure of any information by such
Inspector pursuant to clauses (i) or (ii) of this sentence to permit the Issuers to obtain a protective order (or waive the provisions of this paragraph (o)) and that such Inspector shall take such actions as are reasonably necessary
to protect the confidentiality of such information (if practicable) to the extent such action is otherwise not inconsistent with, an impairment of or in derogation of the rights and interests of the Holder or any Inspector. 

(p) Provide an indenture trustee for the Registrable Notes or the Exchange Notes, as the case may be, and cause the
Indenture or the trust indenture provided for in Section 2(a) hereof, as the case may be, to be qualified under the TIA not later than the effective date of the first Registration Statement relating to the Registrable Notes; and in connection
therewith, cooperate with the trustee under any such indentures and the Holders of the Registrable Notes, to effect such changes (if any) to such indentures as may be required for such indentures to be so qualified in accordance with the terms of
the TIA; and execute, and use its commercially reasonable efforts to cause such trustee to execute, all documents as may be required to effect such changes, and all other forms and documents required to be filed with the SEC to enable such indenture
to be so qualified in a timely manner. 

  
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 (q) Comply with all applicable rules and regulations of the SEC and make
generally available to their securityholders with regard to any applicable Registration Statement, a consolidated earning statement satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar
rule promulgated under the Securities Act) no later than 45 days after the end of any fiscal quarter (or 90 days after the end of any 12-month period if such period is a fiscal year) (i) commencing at the end of any fiscal quarter in
which Registrable Notes are sold to underwriters in a firm commitment or best efforts underwritten offering and (ii) if not sold to underwriters in such an offering, commencing on the first day of the first fiscal quarter of the Notes Issuer,
after the effective date of a Registration Statement, which statements shall cover said 12-month periods. 
 (r)
Upon consummation of the Exchange Offer or a Private Exchange, obtain an opinion of counsel to the Notes Issuer, in a form customary for underwritten transactions, addressed to the Trustee for the benefit of all Holders of Registrable Notes
participating in the Exchange Offer or the Private Exchange, as the case may be, that the Exchange Notes or Private Exchange Notes, as the case may be, and the Indenture constitute legal, valid and binding obligations of the Notes Issuer,
enforceable against the Notes Issuer in accordance with their respective terms, subject to customary or necessary exceptions and qualifications. If the Exchange Offer or a Private Exchange is to be consummated, upon delivery of the Registrable Notes
by Holders to the Notes Issuer (or to such other Person as directed by the Notes Issuer), in exchange for the Exchange Notes or the Private Exchange Notes, as the case may be, the Notes Issuer shall mark, or cause to be marked, on such Registrable
Notes that such Registrable Notes are being cancelled in exchange for the Exchange Notes or the Private Exchange Notes, as the case may be; in no event shall such Registrable Notes be marked as paid or otherwise satisfied. 

(s) Cooperate with each seller of Registrable Notes covered by any Registration Statement and each underwriter, if any,
participating in the disposition of such Registrable Notes and their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc. (“FINRA”). 

(t) Use its commercially reasonable efforts to take all other steps necessary to effect the registration of the Exchange
Notes and/or Registrable Notes covered by a Registration Statement contemplated hereby. 
 The Notes Issuer may require each
seller of Registrable Notes as to which any registration is being effected to furnish to the Notes Issuer such information regarding such seller and the distribution of such Registrable Notes as the Notes Issuer may, from time to time, reasonably
request. The Notes Issuer may exclude from such registration the Registrable Notes of any seller so long as such seller fails to furnish such information within a 

  
 20 

 
reasonable time after receiving such request. Each seller as to which any Shelf Registration is being effected agrees to furnish promptly to the Notes Issuer all information required to be
disclosed in order to make the information previously furnished to the Notes Issuer by such seller not materially misleading. 

If any such Registration Statement refers to any Holder by name or otherwise as the holder of any securities of the Notes Issuer, then
such Holder shall have the right to require (i) the insertion therein of language, in form and substance reasonably satisfactory to such Holder, to the effect that the holding by such Holder of such securities is not to be construed as a
recommendation by such Holder of the investment quality of the securities covered thereby and that such holding does not imply that such Holder will assist in meeting any future financial requirements of the Notes Issuer, or (ii) in the event
that such reference to such Holder by name or otherwise is not required by the Securities Act or any similar federal statute then in force, the deletion of the reference to such Holder in any amendment or supplement to the Registration Statement
filed or prepared subsequent to the time that such reference ceases to be required. 
 Each Holder of Registrable Notes and each
Participating Broker-Dealer agrees by its acquisition of such Registrable Notes or Exchange Notes to be sold by such Participating Broker-Dealer, as the case may be, that, upon actual receipt of any notice from the Notes Issuer of (a) the
happening of any event of the kind described in Section 5(c)(ii), 5(c)(iv), 5(c)(v), or 5(c)(vi) hereof or (b) a Shelf Suspension Period, such Holder will forthwith discontinue disposition of such Registrable Notes covered by such
Registration Statement or Prospectus or (only in the case of clause (a) of this paragraph) Exchange Notes to be sold by such Holder or Participating Broker-Dealer, as the case may be, until such Holder’s or Participating
Broker-Dealer’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 5(k) hereof (in the case of clause (a) of this paragraph), or until it is advised in writing (the “Advice”) by
the Notes Issuer that the use of the applicable Prospectus may be resumed, and has received copies of any amendments or supplements thereto. In the event that the Notes Issuer shall give any such notice, each of the Applicable Period and the
Effectiveness Period shall be extended by the number of days during such periods from and including the date of the giving of such notice to and including the date when each seller of Registrable Notes covered by such Registration Statement or
Exchange Notes to be sold by such Participating Broker-Dealer, as the case may be, shall have received (x) the copies of the supplemented or amended Prospectus contemplated by Section 5(k) hereof or (y) the Advice. 

 

	 	6.	Registration Expenses 

All fees and expenses incident to the performance of or compliance with this Agreement by the Issuers shall be borne by the Issuers,
whether or not the Exchange Offer Registration Statement or any Shelf Registration Statement is filed or becomes effective or the Exchange Offer is consummated, including, without limitation, (i) all registration and filing

  
 21 

 
fees (including, without limitation, (A) fees with respect to filings required to be made with FINRA in connection with an underwritten offering and (B) fees and expenses of compliance
with state securities or Blue Sky laws (including, without limitation, fees and disbursements of counsel in connection with Blue Sky qualifications of the Registrable Notes or Exchange Notes and determination of the eligibility of the Registrable
Notes or Exchange Notes for investment under the laws of such jurisdictions (x) where the holders of Registrable Notes are located, in the case of the Exchange Notes, or (y) as provided in Section 5(h) hereof, in the case of
Registrable Notes or Exchange Notes to be sold by a Participating Broker-Dealer during the Applicable Period)), (ii) printing expenses, including, without limitation, expenses of printing certificates for Registrable Notes or Exchange Notes in
a form eligible for deposit with DTC and of printing prospectuses if the printing of prospectuses is requested by the managing underwriter or underwriters, if any, by the Holders of a majority in aggregate principal amount of the Registrable Notes
included in any Registration Statement or in respect of Registrable Notes or Exchange Notes to be sold by any Participating Broker-Dealer during the Applicable Period, as the case may be, (iii) messenger, telephone and delivery expenses,
(iv) fees and disbursements of counsel for the Notes Issuer and, in the case of a Shelf Registration, reasonable fees and disbursements of one special counsel for all of the sellers of Registrable Notes selected by the Holders of a majority in
aggregate principal amount of Registrable Notes covered by such Shelf Registration (exclusive of any counsel retained pursuant to Section 7 hereof), (v) fees and disbursements of all independent certified public accountants referred to in
Section 5(n)(iii) hereof (including, without limitation, the expenses of any “cold comfort” letters required by or incident to such performance), (vi) Securities Act liability insurance, if the Notes Issuer desires such
insurance, (vii) fees and expenses of all other Persons retained by the Notes Issuer, (viii) internal expenses of the Notes Issuer (including, without limitation, all salaries and expenses of officers and employees of the Notes Issuer
performing legal or accounting duties), (ix) the expense of any annual audit, (x) any fees and expenses incurred in connection with the listing of the securities to be registered on any securities exchange, and the obtaining of a rating of
the securities, in each case, if applicable and (xi) the expenses relating to printing, word processing and distributing all Registration Statements, underwriting agreements, indentures and any other documents necessary in order to comply with
this Agreement. Except as set forth in the preceding sentence, each Holder shall pay all other expenses relating to the sale or disposition of such Holder’s Notes, Exchange Notes or Private Exchange Notes, including without limitation, all
underwriting discounts and commissions of any underwriters with respect to any Additional Notes, Exchange Notes, or Private Exchange Notes sold by or on behalf of such Holder, if any. 

 

	 	7.	Indemnification and Contribution. 

 (a) The Notes Issuer agrees to indemnify and hold harmless each Holder of Registrable Notes and each Participating Broker-Dealer selling Exchange Notes during the Applicable Period, and each Person, if
any, who controls such Person or its affiliates within 

  
 22 

 
the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (each, a “Participant”) against any losses, claims, damages or liabilities to which
any Participant may become subject under the Securities Act, the Exchange Act or otherwise, insofar as any such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon: 

(i) any untrue statement or alleged untrue statement of any material fact contained in any Registration Statement (or any
amendment thereto) or Prospectus (as amended or supplemented if the Notes Issuer shall have furnished any amendments or supplements thereto) or any preliminary prospectus; or 

(ii) the omission or alleged omission to state, in any Registration Statement (or any amendment thereto) or Prospectus (as
amended or supplemented if the Notes Issuer shall have furnished any amendments or supplements thereto) or any preliminary prospectus or any other document or any amendment or supplement thereto, a material fact required to be stated therein or
necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; 
 and will reimburse,
as incurred, the Participant for any legal or other expenses reasonably incurred by the Participant in connection with investigating, defending against or appearing as a third-party witness in connection with any such loss, claim, damage, liability
or action; provided, however, the Notes Issuer will not be liable in any such case to the extent that any such loss, claim, damage, or liability arises out of or is based upon any untrue statement or alleged untrue statement or
omission or alleged omission made in any Registration Statement (or any amendment thereto) or Prospectus (as amended or supplemented if the Notes Issuer shall have furnished any amendments or supplements thereto) or any preliminary prospectus or any
amendment or supplement thereto in reliance upon and in conformity with written information relating to any Participant furnished to any of the Issuers by such Participant specifically for use therein. The indemnity provided for in this
Section 7 will be in addition to any liability that the Notes Issuer may otherwise have to the indemnified parties. The Notes Issuer shall not be liable under this Section 7 to any indemnified party regarding any settlement or compromise
or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or
potential parties to such claim or action) unless such settlement, compromise or consent is consented to by the Notes Issuer, which consent shall not be unreasonably withheld. 
 (b) Each Participant, severally and not jointly, agrees to indemnify and hold harmless each Issuer, its respective directors, officers and each person, if any, who controls such Issuer within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act against any losses, claims, damages or liabilities to which such Issuer or any such director, officer or controlling person may become subject under the Securities Act,

  
 23 

 
the Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged
untrue statement of any material fact contained in any Registration Statement or Prospectus, any amendment or supplement thereto, or any preliminary prospectus, or (ii) the omission or the alleged omission to state therein a material fact
necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged
omission was made in reliance upon and in conformity with written information concerning such Participant, furnished to any of the Issuers by the Participant, specifically for use therein; and subject to the limitation set forth immediately
preceding this clause, will reimburse, as incurred, any reasonable legal or other expenses incurred by the Issuers or any such director, officer or controlling person in connection with investigating or defending against or appearing as a third
party witness in connection with any such loss, claim, damage, liability or action in respect thereof. The indemnity provided for in this Section 7 will be in addition to any liability that the Participants may otherwise have to the indemnified
parties. The Participants shall not be liable under this Section 7 for any settlement of any claim or action effected without their consent, which shall not be unreasonably withheld. 

(c) Promptly after receipt by an indemnified party under this Section 7 of notice of the commencement of any action for which such
indemnified party is entitled to indemnification under this Section 7, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 7, notify the indemnifying party of the
commencement thereof in writing; but the omission to so notify the indemnifying party (i) will not relieve it from any liability under paragraph (a) or (b) above unless and to the extent such failure results in the forfeiture by the
indemnifying party of substantial rights and defenses and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraphs (a) and
(b) above. In case any such action is brought against any indemnified party, and it notifies the indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein and, to the extent that it may wish,
jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party; provided, however, that if (i) the use of counsel chosen by the
indemnifying party to represent the indemnified party would present such counsel with a conflict of interest, (ii) the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall
have been advised by counsel that there may be one or more legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party or (iii) the indemnifying party shall
not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after receipt by the indemnifying party of notice of the institution of such action, then, in each such case, the
indemnifying party shall not have the right to direct the defense of such action on 

  
 24 

 
behalf of such indemnified party or parties and such indemnified party or parties shall have the right to select one separate counsel to defend such action on behalf of such indemnified party or
parties. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof and approval by such indemnified party of counsel appointed to defend such action, the indemnifying party will not be liable
to such indemnified party under this Section 7 for any legal or other expenses, other than reasonable costs of investigation, subsequently incurred by such indemnified party in connection with the defense thereof, unless (i) the
indemnified party shall have employed separate counsel in accordance with the proviso to the immediately preceding sentence (it being understood, however, that in connection with such action the indemnifying party shall not be liable for the
expenses of more than one separate counsel (in addition to local counsel) in any one action or separate but substantially similar actions in the same jurisdiction arising out of the same general allegations or circumstances, designated by
Participants who sold a majority in interest of the Registrable Notes and Exchange Notes sold by all such Participants in the case of paragraph (a) of this Section 7 or the Issuers in the case of paragraph (b) of this Section 7,
representing the indemnified parties under such paragraph (a) or paragraph (b), as the case may be, who are parties to such action or actions) or (ii) the indemnifying party has authorized in writing the employment of counsel for the
indemnified party at the expense of the indemnifying party. All fees and expenses reimbursed pursuant to this paragraph (c) shall be reimbursed as they are incurred. After such notice from the indemnifying party to such indemnified party, the
indemnifying party will not be liable for the costs and expenses of any settlement of such action effected by such indemnified party without the prior written consent of the indemnifying party (which consent shall not be unreasonably withheld),
unless such indemnified party waived in writing its rights under this Section 7, in which case the indemnified party may effect such a settlement without such consent. No indemnifying party shall, without the prior written consent of the
indemnified party, effect any settlement or compromise of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party, or indemnity could have been sought hereunder by any indemnified party, unless
such settlement (A) includes an unconditional written release of the indemnified party, in form and substance reasonably satisfactory to the indemnified party, from all liability on claims that are the subject matter of such proceeding and
(B) does not include any statement as to an admission of fault, culpability or failure to act by or on behalf of any indemnified party. 
 (d) In circumstances in which the indemnity agreement provided for in the preceding paragraphs of this Section 7 is unavailable to, or insufficient to hold harmless, an indemnified party in respect
of any losses, claims, damages or liabilities (or actions in respect thereof), each indemnifying party, in order to provide for just and equitable contribution, shall, in lieu of indemnifying such indemnified party, contribute to the amount paid or
payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect (i) the relative benefits received by the indemnifying party or parties
on the one hand and the indemnified 

  
 25 

 
party on the other from the offering of the Additional Notes or (ii) if the allocation provided by the foregoing clause (i) is not permitted by applicable law, not only such relative
benefits but also the relative fault of the indemnifying party or parties on the one hand and the indemnified party on the other in connection with the statements or omissions or alleged statements or omissions that resulted in such losses, claims,
damages or liabilities (or actions in respect thereof). The relative benefits received by the Notes Issuer on the one hand and such Participant on the other shall be deemed to be in the same proportion as the total net proceeds from the offering
(before deducting expenses) of the Additional Notes received by the Notes Issuer bear to the total net profit received by such Participant in connection with the sale of the Additional Notes. The relative fault of the parties shall be determined by
reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Notes Issuer on the one hand, or the Participants
on the other, the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission or alleged statement or omission, and any other equitable considerations appropriate in the
circumstances. The parties agree that it would not be equitable if the amount of such contribution were determined by pro rata or per capita allocation or by any other method of allocation that does not take into account the equitable considerations
referred to in the first sentence of this paragraph (d). Notwithstanding any other provision of this paragraph (d), no Participant shall be obligated to make contributions hereunder that in the aggregate exceed the total net profit received by such
Participant in connection with the sale of the Additional Notes, less the aggregate amount of any damages that such Participant has otherwise been required to pay by reason of the untrue or alleged untrue statements or the omissions or alleged
omissions to state a material fact, and no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this paragraph (d), each person, if any, who controls a Participant within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act shall have the same rights to contribution as
the Participants, and each director of any Issuer, each officer of any Issuer and each person, if any, who controls any Issuer within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, shall have the same
rights to contribution as the Issuers. 
  

	 	8.	Rule 144A 

 Each of the
Issuers covenants and agrees that it will file the reports required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder in a timely manner in accordance with the requirements of
the Securities Act and the Exchange Act and, if at any time it is not required to file such reports, it will, upon the request of any Holder or beneficial owner of Registrable Notes, make available such information necessary to permit sales pursuant
to Rule 144A. Each of the Issuers further covenants and agrees, for so long as any Registrable Notes remain outstanding that it will take 

  
 26 

 
such further action as any Holder of Registrable Notes may reasonably request, all to the extent required from time to time to enable such holder to sell Registrable Notes without registration
under the Securities Act within the limitation of the exemptions provided by Rule 144 under the Securities Act and Rule 144A. 
  

	 	9.	Underwritten Offerings 

If any of the Registrable Notes covered by any Shelf Registration are to be sold in an underwritten offering, the investment banker or
investment bankers and manager or managers that will manage the offering will be selected by the Holders of a majority in aggregate principal amount of such Registrable Notes included in such offering and shall be consented to by the Notes Issuer
(such consent not to be unreasonably withheld). 
 No Holder of Registrable Notes may participate in any underwritten offering
hereunder unless such Holder (a) agrees to sell such Holder’s Registrable Notes on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (b) completes and
executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 
  

	 	10.	Miscellaneous 

 (a) No
Inconsistent Agreements. The Notes Issuer has not entered, as of the date hereof, and the Notes Issuer shall not enter, after the date of this Agreement, into any agreement with respect to any of its securities that is inconsistent with the
rights granted to the Holders of Registrable Notes in this Agreement or otherwise conflicts with the provisions hereof. The rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to
the holders of the other issued and outstanding securities of the Notes Issuer under any such agreements. 
 (b) Adjustments
Affecting Registrable Notes. The Notes Issuer shall not, directly or indirectly, take any action with respect to the Registrable Notes as a class that would adversely affect the ability of the Holders of Registrable Notes to include such
Registrable Notes in a registration undertaken pursuant to this Agreement. 
 (c) Amendments and Waivers. The provisions
of this Agreement may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, otherwise than with the prior written consent of (I) the Issuers, and (II) (A) the
Holders of not less than a majority in aggregate principal amount of the then outstanding Registrable Notes and (B) in circumstances that would adversely affect the Participating Broker-Dealers, the Participating Broker-Dealers holding not less
than a majority in aggregate principal amount of the Exchange Notes held by all Participating Broker-Dealers; provided, however, that Section 7 and this Section 10(c) may not be

  
 27 

 
amended, modified or supplemented without the prior written consent of each Holder and each Participating Broker-Dealer (including any person who was a Holder or Participating Broker-Dealer of
Registrable Notes or Exchange Notes, as the case may be, disposed of pursuant to any Registration Statement) affected by any such amendment, modification or supplement. Notwithstanding the foregoing, a waiver or consent to depart from the provisions
hereof with respect to a matter that relates exclusively to the rights of Holders of Registrable Notes whose securities are being sold pursuant to a Registration Statement and that does not directly or indirectly affect, impair, limit or compromise
the rights of other Holders of Registrable Notes may be given by Holders of at least a majority in aggregate principal amount of the Registrable Notes being sold pursuant to such Registration Statement. 

(d) Notices. All notices and other communications (including, without limitation, any notices or other communications to the
Trustee) provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, next-day air courier or facsimile: 
 (i) if to a Holder of the Registrable Notes or any Participating Broker-Dealer, at the most current address of such Holder or Participating Broker-Dealer, as the case may be, set forth on the records of
the registrar under the Indenture, with a copy in like manner to the Initial Purchasers as follows: 
 Goldman,
Sachs & Co. 
 200 West Street 

New York, NY 10282-2198 
 Attention: Registration Department 
 with a copy to: 

Milbank, Tweed, Hadley & McCloy LLP 

One Chase Manhattan Plaza 
 New York, New York 10005 
 Facsimile No.: (212) 822-5219

 Attention: Arnold B. Peinado, III, Esq. 

 

	 	(ii)	if to the Initial Purchasers, at the address specified in Section 10(d)(i); 

 

	 	(iii)	if to any of the Issuers, at the address as follows: 

 Intelsat S.A. 
 4, rue Albert Borschette 

L-1246 Luxembourg 
 Attention: General Counsel 

  
 28 

 with a copy to: 

Intelsat Corporation 
 3400 International Drive, N.W. 
 Washington, D.C. 20008 

Attention: General Counsel 
 with a copy to: 
 Paul, Weiss, Rifkind, Wharton & Garrison
LLP 
 1285 Avenue of the Americas 

New York, NY 10019 
 Telecopy No.: (212) 492-0309 
 Attention: Raphael M. Russo,
Esq. 
 All such notices and communications shall be deemed to have been duly given: when delivered by hand, if personally
delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; one Business Day after being timely delivered to a next-day air courier; and upon written confirmation, if sent by facsimile. 

Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee
at the address and in the manner specified in such Indenture. 
 (e) Successors and Assigns. This Agreement shall inure
to the benefit of and be binding upon the successors and assigns of each of the parties hereto, the Holders and the Participating Broker-Dealers; provided, however, that nothing herein shall be deemed to permit any assignment, transfer
or other disposition of Registrable Notes in violation of the terms of the Purchase Agreement or the Indenture. 
 (f)
Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute
one and the same agreement. 
 (g) Headings. The headings in this Agreement are for convenience of reference only and
shall not limit or otherwise affect the meaning hereof. 
 (h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

  
 29 

 (i) Severability. If any term, provision, covenant or restriction of this Agreement
is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected,
impaired or invalidated, and the parties hereto shall use their best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is
hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or
unenforceable. 
 (j) Notes Held by the Issuers or Their Affiliates. Whenever the consent or approval of Holders of a
specified percentage of Registrable Notes is required hereunder, Registrable Notes held by the Issuers or their affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining whether such consent
or approval was given by the Holders of such required percentage. 
 (k) Third-Party Beneficiaries. Holders of
Registrable Notes and Participating Broker-Dealers are intended third-party beneficiaries of this Agreement, and this Agreement may be enforced by such Persons. 
 (l) Entire Agreement. This Agreement, together with the Purchase Agreement and the Indenture, is intended by the parties as a final and exclusive statement of the agreement and understanding of the
parties hereto in respect of the subject matter contained herein and therein and any and all prior oral or written agreements, representations, or warranties, contracts, understandings, correspondence, conversations and memoranda between the Holders
on the one hand and the Issuers on the other, or between or among any agents, representatives, parents, subsidiaries, affiliates, predecessors in interest or successors in interest with respect to the subject matter hereof and thereof are merged
herein and replaced hereby. 
 (m) Jurisdiction. Each Issuer agrees that any suit, action or proceeding against any
Issuer brought by any Initial Purchaser, the directors, officers, employees and agents of any Initial Purchaser, or by any person who controls any Initial Purchaser, arising out of or based upon this Agreement or the transactions contemplated hereby
may be instituted in the Supreme Court of the State of New York sitting in New York County and the United States District Court of the Southern District of New York, and any appellate court from any thereof, and waives any objection which it may now
or hereafter have to the laying of venue of any such proceeding, and irrevocably submits to the non-exclusive jurisdiction of such courts in any suit, action or proceeding. Each of the entities listed on Schedule III hereto hereby appoints CT
Corporation System as its authorized agent (the “Authorized Agent”) upon whom process may be served in any suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated herein that may be
instituted in the 

  
 30 

 
Supreme Court of the State of New York sitting in New York County and the United States District Court of the Southern District of New York, and any appellate court from any thereof, by any
Initial Purchaser, the directors, officers, employees, affiliates and agents of any Initial Purchaser, or by any person who controls any Initial Purchaser, and expressly accepts the non-exclusive jurisdiction of any such court in respect of any such
suit, action or proceeding. The Notes Issuer hereby represents and warrants that the Authorized Agent has accepted such appointment and has agreed to act as said agent for service of process, and each of the entities listed on Schedule III hereto
agrees to take any and all action, including the filing of any and all documents, that may be necessary to continue such appointment in full force and effect as aforesaid. Service of process upon the Authorized Agent shall be deemed, in every
respect, effective service of process upon each of the entities listed on Schedule III hereto. The parties hereto each hereby waive any right to trial by jury in any action, proceeding or counterclaim arising out of or relating to this Agreement.

 (n) Immunity. To the extent that the Notes Issuer has or hereafter may acquire any immunity (sovereign or otherwise)
from any legal action, suit or proceeding, from jurisdiction of any court or from set-off or any legal process (whether service or notice, attachment in aid or otherwise) with respect to itself or any of its property, the Notes Issuer hereby
irrevocably waives and agrees not to plead or claim such immunity in respect of its obligations under this Agreement. 

[Remainder of page intentionally left blank] 

  
 31 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	INTELSAT JACKSON HOLDINGS S.A.
		
	By:	 	/s/    Flavien Bachabi        
	Name:	 	Flavien Bachabi
	Title:	 	Chairman & Chief Executive Officer

  

			
	INTELSAT S.A.
		
	By:	 	/s/    Phillip L. Spector        
	Name:	 	Phillip L. Spector
	Title:	 	 Executive Vice President, General
 Counsel & Assistant Secretary

  

			
	INTELSAT (LUXEMBOURG) S.A.
		
	By:	 	/s/    Flavien Bachabi        
	Name:	 	Flavien Bachabi
	Title:	 	Chairman & Chief Executive Officer

  

			
	INTELSAT INTERMEDIATE HOLDING COMPANY S.A.
		
	By:	 	/s/    Flavien Bachabi        
	Name:	 	Flavien Bachabi
	Title:	 	Chairman & Chief Executive Officer

  
  
 [Intelsat RRA – 2020 Notes] 

  
 32 

 
			
	 ACCESSPAS, INC.

INTELSAT ASIA CARRIER SERVICES, INC.
 INTELSAT
CORPORATION
 INTELSAT GLOBAL SERVICE LLC

INTELSAT INTERNATIONAL EMPLOYMENT, INC.
 INTELSAT SERVICE AND EQUIPMENT
 CORPORATION

PANAMSAT CAPITAL CORPORATION
 PANAMSAT EUROPE
CORPORATION
 PANAMSAT INDIA, INC.

PANAMSAT SERVICES, INC.
 SOUTHERN SATELLITE
CORP.
 SOUTHERN SATELLITE LICENSEE
 CORPORATION
 PANAMSAT INTERNATIONAL SALES, LLC

		
	By:	 	/s/    Patricia Casey        
	Name:	 	Patricia Casey
	Title:	 	 Senior Vice President, General
 Counsel & Secretary

  

			
	 INTELSAT USA LICENSE LLC
 INTELSAT USA SALES LLC

		
	By:	 	/s/    Patricia Casey         
	Name:	 	Patricia Casey
	Title:	 	Secretary

  

			
	 INTELSAT (GIBRALTAR) LIMITED
 INTELSAT NEW DAWN (GIBRALTAR)
 LIMITED

INTELSAT SUBSIDIARY (GIBRALTAR)
 LIMITED

		
	By:	 	/s/    Jean-Philippe Gillet        
	Name:	 	Jean-Philippe Gillet
	Title:	 	Director

  
 [Intelsat RRA – 2020
Notes] 

  
 33 

  

			
	INTELSAT (LUXEMBOURG) FINANCE COMPANY SARL
		
	By:	 	/s/    Jean-Philippe Gillet        
	Name:	 	Jean-Philippe Gillet
	Title:	 	Manager

  

			
	INTELSAT GLOBAL SALES & MARKETING LTD.
		
	By:	 	/s/    Jean-Philippe Gillet        
	Name:	 	Jean-Philippe Gillet
	Title:	 	Chairman

  

			
	INTELSAT UK FINANCIAL SERVICES LTD.
		
	By:	 	/s/    Jean-Philippe Gillet        
	Name:	 	Jean-Philippe Gillet
	Title:	 	Chairman

  

			
	 INTELSAT HOLDINGS LLC
 INTELSAT LICENSE LLC
 INTELSAT LICENSE HOLDINGS LLC

INTELSAT SATELLITE LLC

		
	By:	 	/s/    Flavien Bachabi        
	Name:	 	Flavien Bachabi
	Title:	 	Deputy Chairman

  

			
	 INTELSAT OPERATIONS S.A.
 INTELSAT PHOENIX HOLDINGS S.A.
 INTELSAT SUBSIDIARY HOLDING COMPANY S.A.

		
	By:	 	/s/    Flavien Bachabi        
	Name:	 	Flavien Bachabi
	Title:	 	Chairman & Chief Executive Officer

  
 [Intelsat RRA – 2020
Notes] 

  
 34 

  

			
	 INTELSAT INTERNATIONAL SYSTEMS LLC
 PANAMSAT INDIA MARKETING, L.L.C.
 PANAMSAT INTERNATIONAL HOLDINGS,

LLC
 PANAMSAT INTERNATIONAL
SYSTEMS MARKETING, L.L.C.
 PAS INTERNATIONAL LLC

		
	By:	 	/s/    Patricia Casey        
	Name:	 	Patricia Casey
	Title:	 	Manager

  
  
  

[Intelsat RRA – 2020 Notes] 

  
 35 

 
			
	 The foregoing Agreement is hereby
 confirmed and accepted as of the date
 first written above.

	
	 GOLDMAN, SACHS & CO.,
 for itself and as Representative for the several
 Initial Purchasers

		
	By:	 	/s/ Goldman, Sachs & Co.
		 	(Goldman, Sachs & Co.)

  
  
  

[Intelsat RRA – 2020 Notes] 

 

  
 36 

 SCHEDULE I 
 Initial Purchasers 
 Goldman, Sachs & Co. 

Morgan Stanley & Co. LLC 

  
 37 

 SCHEDULE II 
 Subsidiary Guarantors 
 AccessPAS, Inc. 

Intelsat New Dawn (Gibraltar) Limited 
 Intelsat
(Gibraltar) Limited 
 Intelsat (Luxembourg) Finance Company S.à r.l. 
 Intelsat Asia Carrier Services, Inc. 
 Intelsat Corporation 

Intelsat Global Sales & Marketing Ltd. 

Intelsat Global Service LLC 
 Intelsat Holdings
LLC 
 Intelsat Intermediate Holding Company S.A. 
 Intelsat International Employment, Inc. 
 Intelsat International Systems, LLC 

Intelsat License Holdings LLC 
 Intelsat License
LLC 
 Intelsat Operations S.A. 

Intelsat Phoenix Holdings S.A. 
 Intelsat
Satellite LLC 
 Intelsat Service and Equipment Corporation 
 Intelsat Subsidiary (Gibraltar) Limited 
 Intelsat Subsidiary Holding Company S.A. 

Intelsat UK Financial Services Ltd. 
 Intelsat
USA License LLC 
 Intelsat USA Sales LLC 
 PanAmSat Capital Corporation 
 PanAmSat Europe Corporation 

PanAmSat India Marketing, L.L.C. 
 PanAmSat
India, Inc. 
 PanAmSat International Holdings, LLC 
 PanAmSat International Sales, LLC 
 PanAmSat International Systems Marketing, L.L.C. 

PanAmSat Services, Inc. 
 PAS International LLC

 Southern Satellite Corp. 
 Southern
Satellite Licensee Corporation 

  
 38 

 SCHEDULE III 
 Non-U.S. Entitites 
 Intelsat (Gibraltar) Limited 

Intelsat (Luxembourg) Finance Company S.à r.l. 
 Intelsat (Luxembourg) S.A. 
 Intelsat Global Sales & Marketing Ltd. 

Intelsat Intermediate Holding Company S.A. 

Intelsat Jackson Holdings S.A. 
 Intelsat New
Dawn (Gibraltar) Limited 
 Intelsat Operations S.A. 
 Intelsat Phoenix Holdings S.A. 
 Intelsat S.A. 

Intelsat Subsidiary (Gibraltar) Limited 

Intelsat Subsidiary Holding Company S.A. 

Intelsat Kommunikations GmbH 
 Intelsat New Dawn
Company, Ltd. 
 Intelsat UK Financial Services Ltd. 
 New Dawn Distribution Company, Ltd. 
 New Dawn Satellite Company, Ltd. 

PanAmSat Satellite Europe Limited 

  
 39Long Term Incentive Plan- Performance Stock Unit Agreement

 Exhibit 10a 
 FORM OF 
 VERIZON COMMUNICATIONS INC. LONG-TERM INCENTIVE PLAN

 PERFORMANCE STOCK UNIT AGREEMENT 
 2012–2014 AWARD CYCLE 
 AGREEMENT between Verizon Communications Inc.
(“Verizon” or the “Company”) and you (the “Participant”) and your heirs and beneficiaries. 
 1. Purpose of
Agreement. The purpose of this Agreement is to provide a grant of performance stock units (“PSUs”) to the Participant. 
 2.
Agreement. This Agreement is entered into pursuant to the 2009 Verizon Communications Inc. Long-Term Incentive Plan (the “Plan”), and evidences the grant of a performance stock unit award in the form of PSUs pursuant to the Plan. In
consideration of the benefits described in this Agreement, which Participant acknowledges are good, valuable and sufficient consideration, the Participant agrees to comply with the terms and conditions of this Agreement, including the
Participant’s obligations and restrictions set forth in Exhibit A to this Agreement (the “Participant’s Obligations”), which are incorporated into and are a part of the Agreement. The PSUs and this Agreement are subject to the
terms and provisions of the Plan. By executing this Agreement, the Participant agrees to be bound by the terms and provisions of the Plan and this Agreement, including but not limited to the Participant’s Obligations. In addition, the
Participant agrees to be bound by the actions of the Human Resources Committee of Verizon Communication’s Board of Directors or any successor thereto (the “Committee”), and any designee of the Committee (to the extent that such
actions are exercised in accordance with the terms of the Plan and this Agreement). If there is a conflict between the terms of the Plan and the terms of this Agreement, the terms of this Agreement shall control. 

3. Contingency. The grant of PSUs is contingent on the Participant’s timely acceptance of this Agreement and satisfaction of the other
conditions contained in it. Acceptance shall be through execution of the Agreement as set forth in paragraph 21. If the Participant does not accept this Agreement by the close of business on May 16, 2012, the Participant shall not be entitled
to this grant of PSUs regardless of the extent to which the requirements in paragraph 5 (“Vesting”) are satisfied. In addition, to the extent a Participant is on a Company approved leave of absence, including but not limited to short-term
disability leave, at the time this grant of PSUs is accepted by the Participant, he or she will not be entitled to this grant of PSUs until such time as he or she returns to active employment with Verizon or a Related Company (as defined in
paragraph 13). 
 4. Number of Units. The Participant is granted the number of PSUs as specified in the Participant’s account under
the 2012 PSU grant, administered by Fidelity Investments or any successor thereto (“Fidelity”). A PSU is a hypothetical share of Verizon’s common stock. The value of a PSU on any given date shall be equal to the closing price of
Verizon’s common stock on the New York Stock Exchange (“NYSE”) as of such date. A Dividend Equivalent Unit (“DEU”) or fraction thereof shall be added to each PSU each time that a dividend is paid on Verizon’s common
stock. The amount of each DEU shall be equal to the corresponding dividend paid on a share of Verizon’s common stock. The DEU shall be converted into PSUs or fractions thereof based upon the closing price of Verizon’s common stock traded
on the NYSE on the dividend payment date of each declared dividend on Verizon’s common stock, and such PSUs or fractions thereof shall be added to the Participant’s PSU balance. To the extent that Fidelity or the Company makes an error,
including but not limited to an administrative error with respect to the number or value of the PSUs granted to the Participant under this Agreement, the DEUs credited to the Participant’s account or the amount of the final award payment, the
Company or Fidelity specifically reserves the right to correct such error at any time and the Participant agrees that he or she shall be legally bound by any corrective action taken by the Company or Fidelity. 

 5. Vesting. 
 (a) General. The Participant shall vest in the PSUs to the extent provided in paragraph 5(b) (“Performance Requirement”) only if the Participant satisfies the requirements of paragraph
5(c) (“Three-Year Continuous Employment Requirement”), except as otherwise provided in paragraph 7 (“Early Cancellation/Accelerated Vesting of PSUs”). 
 (b) Performance Requirement. 
 (1) General. The number of PSUs
granted to the Participant, as specified in the Participant’s account under the 2012 PSU grant, is referred to as the “Target Number of PSUs.” The vesting of two-thirds (2/3) of the Target Number of PSUs (the “Target Number
of TSR PSUs”) will be determined with reference to total shareholder return metrics as provided in paragraph 5(b)(2). The vesting of one-third (1/3) of the Target Number of PSUs (the “Target Number of FCF PSUs”) will be
determined with reference to free cash flow metrics as provided in paragraph 5(b)(3). The total number of PSUs that vest will range from 0 to 200% of the Target Number of PSUs and will equal the sum of the Target Number of TSR PSUs that are eligible
to vest pursuant to Section 5(b)(2) plus the Target Number of FCF PSUs that are eligible to vest pursuant to Section 5(b)(3). Notwithstanding anything in this paragraph 5(b), in all cases vesting remains subject to the requirements of
paragraphs 5(c) and 7. 
 (2) TSR Metric. The percentage of the Target Number of TSR PSUs that shall vest will be
based on the TSR (as defined below) of Verizon’s common stock during the three-year period beginning January 1, 2012, and ending at the close of business on December 31, 2014 (the “Award Cycle”), relative to the TSR of the
common stock of each of the companies in the Related Dow Peers for the Award Cycle. The “Related Dow Peers” are the companies (other than Verizon) in the Dow Jones Industrial Average (Dow) Index and also including the four largest industry
companies that are not in the Dow, as determined by the Committee and as constituted at the close of business on March 2, 2012. Notwithstanding paragraph 5(c), no portion of the Target Number of TSR PSUs shall vest unless the Committee
determines that the Verizon Relative TSR Position (as defined below) is greater than 26. If the Committee determines that the Verizon Relative TSR Position is greater than 26, the percentage of the Target Number of TSR PSUs that shall vest (plus any
additional PSUs added with respect to DEUs credited on the Target Number of TSR PSUs over the Award Cycle) will equal the Verizon TSR Vested Percentage (as defined below). For example, if (a) the Participant is granted 1,000 PSUs, and
(b) those PSUs are credited with an additional 200 PSUs as a result of DEUs paid over the Award Cycle, and (c) the Verizon TSR Vested Percentage is 74%, 592 PSUs shall vest based on TSR (which is the 1,000 PSUs + 200 PSUs from DEUs,
times 2/3 to reflect the portion of the total PSUs that will become eligible to vest with reference to TSR, times the Verizon TSR Vested Percentage of 74%). 
 (3) FCF Metric. The percentage of the Target Number of FCF PSUs that shall vest will be based on Verizon’s FCF (as defined below) for the Award Cycle. Notwithstanding paragraph 5(c), no
portion of the Target Number of FCF PSUs shall vest unless the Committee determines that Verizon’s FCF for the Award Cycle is greater than or equal to $XXB. If the Committee determines that Verizon’s FCF for the Award Cycle is greater than
or equal to $XXB, the percentage of the Target Number of FCF PSUs that shall vest (plus any additional PSUs added with respect to DEUs credited on the Target Number of FCF PSUs over the Award Cycle) will equal the Verizon FCF Vested Percentage (as
defined below). For example, if (a) the Participant is granted 1,000 PSUs, and (b) those PSUs are credited with an additional 200 PSUs as a result of DEUs paid over the Award Cycle, and (c) the Verizon FCF Vested Percentage is 125%,
500 

  
 2 

 
PSUs shall vest based on FCF (which is the 1,000 PSUs + 200 PSUs from DEUs, times 1/3 to reflect the portion of the total PSUs that will become eligible to vest with reference to FCF,
times the Verizon FCF Vested Percentage of 125%). 
 (4) Definitions. For purposes of the performance
requirement and payout formula set forth in paragraphs 5(b)(1) through 5(b)(3)— 
 (i) “Verizon TSR Vested
Percentage” shall be an amount (between 0% and 200%), which is based on Verizon’s Relative TSR Position, as provided in the following table: 
  

					
	 Verizon Relative TSR Position
	  	Verizon TSR Vested Percentage	 
	 1 through 4
	  	 	200	% 
	 5
	  	 	172	% 
	 6
	  	 	165	% 
	 7
	  	 	158	% 
	 8
	  	 	151	% 
	 9
	  	 	144	% 
	 10
	  	 	137	% 
	 11
	  	 	130	% 
	 12
	  	 	123	% 
	 13
	  	 	116	% 
	 14
	  	 	109	% 
	 15
	  	 	102	% 
	 16
	  	 	95	% 
	 17
	  	 	88	% 
	 18
	  	 	81	% 
	 19
	  	 	74	% 
	 20
	  	 	67	% 
	 21
	  	 	60	% 
	 22
	  	 	53	% 
	 23
	  	 	46	% 
	 24
	  	 	39	% 
	 25
	  	 	32	% 
	 26 through 34
	  	 	0	% 

 (ii) “Verizon Relative TSR Position” shall be based upon Verizon’s rank during the Award
Cycle among the Related Dow Peers in terms of TSR. The Committee shall determine the Verizon Vested Percentage and the Verizon Relative TSR Position for the period. The Committee will make adjustments to preserve the intended incentives, and to the
extent consistent with Section 162(m) of the Code (as defined in the Plan), should the common stock of any Related Dow Peer cease to be publicly traded during the Award Cycle. The Committee’s determinations shall be final and binding.

  
 3 

 (iii) “TSR” or “Total Shareholder Return” shall mean the change in the
price of a share of common stock from the beginning of a period until the end of the applicable period, adjusted to reflect the reinvestment of dividends (if any) and as may be necessary to take into account stock splits or other events similar to
those described in Section 4.3 of the Plan. The Committee shall determine TSR in accordance with its standard practice and its determinations shall be final and binding. 
 (iv) “Verizon FCF Vested Percentage” shall be an amount (between 0% and 200%), which is based on Verizon’s FCF, as provided in the following table: 

 

					
	 Verizon FCF (in Billions)
	  	Verizon FCF Vested Percentage	 
	 Greater than $XX
	  	 	200	% 
	 $XX
	  	 	150	% 
	 $XX
	  	 	100	% 
	 $XX
	  	 	50	% 
	 Less than $XX
	  	 	0	% 

 If the Verizon FCF is $XXB or less but greater than $XXB, or less than $XXB but greater than $XXB, or
less than $XXB but greater than $XXB, the Verizon FCF Vested Percentage will be interpolated on a straight-line basis between the respective levels (for example, if the Verizon FCF is $XXB, the Verizon FCF Vested Percentage will be 75%). 

(v) “FCF” shall mean Verizon’s net cash provided by operating activities less capital expenditures, as such terms are used
in Verizon’s consolidated financial statements, on a consolidated basis for the Award Cycle. The Committee will (to the extent necessary and without duplication) adjust such net cash provided by operating activities less capital expenditures to
eliminate the financial impact of (i) acquisitions, divestitures or changes in business structure; (ii) changes in legal, tax, accounting or regulatory policy; and (iii) other items that are extraordinary in nature or not deemed to be
in the ordinary course of business. The Committee’s determination of whether, and the extent to which, any such adjustment is necessary shall be final and binding. 
 (c) Three-Year Continuous Employment Requirement. Except as otherwise determined by the Committee, or except as otherwise provided in paragraph 7 (“Early Cancellation/Accelerated Vesting of
PSUs”), the PSUs shall vest only if the Participant is continuously employed by the Company or a Related Company (as defined in paragraph 13) from the date the PSUs are granted through the end of the Award Cycle. 

(d) Effect of a Termination for Cause. Notwithstanding Section 5(b), Section 5(c) or Section 7, if the
Participant’s employment by the Company or a Related Company is terminated by the Company or a Related Company for Cause at any time prior to the date that the PSUs are paid pursuant to Section 6, the PSUs (whether vested or not) shall
automatically terminate and be cancelled as of the applicable termination date without payment of any consideration by the Company and without any other action by the Participant. For purposes of this Agreement, “Cause” means
(i) grossly incompetent performance or substantial or continuing inattention to or neglect of the duties and responsibilities assigned to the Participant; fraud, misappropriation or embezzlement; or a material breach of the Verizon Code of
Conduct (as may be amended) or any of the Participant’s Obligations, all as determined by the Executive Vice President and Chief Administrative Officer of Verizon (or his or her designee) in his or her discretion, or (ii) commission of any
felony of which the Participant is finally adjudged guilty by a court of competent jurisdiction. 

  
 4 

 (e) Transfer. Transfer of employment from Verizon to a Related Company, from a
Related Company to Verizon, or from one Related Company to another Related Company shall not constitute a separation from employment hereunder, and service with a Related Company shall be treated as service with the Company for purposes of the
three-year continuous employment requirement in paragraph 5(c). If the Participant transfers employment pursuant to this paragraph 5(e), the Participant will still be required to satisfy the definition of “Retire” under paragraph 7 of this
Agreement in order to be eligible for the accelerated vesting provisions in connection with a retirement. 
 6. Payment. All payments
under this Agreement shall be made in cash. Subject to Section 5(d), as soon as practicable after the end of the Award Cycle (but in no event later than March 15, 2015), the value of the vested PSUs (minus any withholding for taxes) shall
be paid to the Participant (subject, however, to any deferral application that the Participant has made under the deferral plan (if any) then available to the Participant). The amount of cash that shall be paid (plus withholding for taxes and any
applicable deferral amount) shall equal the number of vested PSUs (as provided in paragraph 5(b)) times the closing price of Verizon’s common stock on the NYSE as of the last trading day in the Award Cycle. If the Participant dies before
any payment due hereunder is made, such payment shall be made to the Participant’s beneficiary, as designated under paragraph 11. Once a payment has been made with respect to a PSU, the PSU shall be canceled; however, all other terms of the
Agreement, including but not limited to the Participant’s Obligations, shall remain in effect. 
 7. Early Cancellation/Accelerated
Vesting of PSUs. Notwithstanding the provisions of paragraph 5, PSUs may vest or be forfeited before the end of the Award Cycle as follows: 
 (a) Retirement Before July 1, 2012, Voluntary Separation On or Before December 31, 2014, or Other Separation Not Described in Paragraph 7(b). If the Participant (i) Retires (as
defined in paragraph 7(b)(4)) before July 1, 2012, (ii) voluntarily separates from employment on or before December 31, 2014 for any reason other than Retirement, or (iii) otherwise separates from employment on or before
December 31, 2014 under circumstances not described in paragraph 7(b), all the PSUs shall automatically terminate and be cancelled as of the applicable termination date without payment of any consideration by the Company and without any other
action by the Participant. 
 (b) Retirement After June 30, 2012, Involuntary Termination Without Cause On or Before
December 31, 2014, Termination Due to Death or Disability On or Before December 31, 2014. 
 (1) This paragraph
7(b) shall apply if the Participant: 
 (i) Retires (as defined below) after June 30, 2012, or 

(ii) Separates from employment by reason of an involuntary termination without Cause (as determined by the Executive Vice President and
Chief Administrative Officer of Verizon (or his or her designee)), death, or Disability (as defined below) on or before December 31, 2014. “Disability” shall mean the total and permanent disability of the Participant as defined by, or
determined under, the Company’s long-term disability benefit plan. 
 (2) If the Participant separates from employment on or
before December 31, 2014 under circumstances described in paragraph 7(b)(1), the Participant’s PSUs shall be subject to the vesting provisions set forth in paragraph 5(a) and 5(b) (without prorating the award), except that the three-year
continuous employment requirement set forth in paragraph 5(c) shall not apply, provided that the Participant has not and does not commit a material breach of any of the 

  
 5 

 
Participant’s Obligations and provided that the Participant executes, within the time prescribed by Verizon, a release satisfactory to Verizon waiving any claims he or she may have against
Verizon and any Related Company (otherwise, paragraph 7(a) shall apply). 
 (3) Any PSUs that vest pursuant to paragraph 7(b)(2)
shall be payable as soon as practicable after the end of the Award Cycle (but in no event later than March 15, 2015). 
 (4)
For purposes of this Agreement, “Retire” and “Retirement” means (i) to retire after having attained at least 15 years of vesting service (as defined under the applicable Verizon tax-qualified 401(k) savings plan) and a
combination of age and years of vesting service that equals or exceeds 75 points, or (ii) retirement under any other circumstances determined in writing by the Executive Vice President and Chief Administrative Officer of Verizon (or his or her
designee), provided that, in the case of either (i) or (ii) in this paragraph, the retirement was not occasioned by a discharge for Cause. Notwithstanding the preceding sentence, if the Participant is employed in the United Kingdom,
“Retire” or “Retirement” shall mean: (A) subject to applicable law, a termination of employment on the grounds of age, provided that the Participant has attained at least age 65; or (B) retirement under any other
circumstances determined in writing by the Executive Vice President and Chief Administrative Officer of Verizon (or his or her designee), provided that, in the case of either (A) or (B) in this paragraph, the retirement was not occasioned
by a discharge for Cause. 
 (c) Change in Control. If a Participant is involuntarily terminated without Cause within
twelve (12) months following the occurrence of a Change in Control of Verizon (as defined in the Plan) and before the end of the Award Cycle, the PSUs shall vest and become payable (without prorating the award) by applying a Verizon TSR Vested
Percentage of no less than 100%, and a Verizon FCF Vested Percentage of no less than 100%, to the PSUs without regard to the performance requirements in paragraph 5(b) or the three-year continuous employment requirement in paragraph 5(c); however,
all other terms of the Agreement, including but not limited to the Participant’s Obligations, shall remain in effect. A Change in Control or an involuntary termination without Cause that occurs after the end of the Award Cycle shall have no
effect on whether any PSUs vest or become payable under this paragraph 7(c). If both paragraph 7(b) and this paragraph 7(c) would otherwise apply in the circumstances, this paragraph 7(c) shall control. All payments provided in this paragraph 7(c)
shall be made at their regularly scheduled time as specified in paragraph 6. 
 (d) Vesting Schedule. Except and to the
extent provided in paragraphs 7(b) and (c), nothing in this paragraph 7 shall alter the vesting schedule prescribed by paragraph 5. 
 8.
Shareholder Rights. The Participant shall have no rights as a shareholder with respect to the PSUs. Except as provided in the Plan or in this Agreement, no adjustment shall be made for dividends or other rights for which the record date occurs
while the PSUs are outstanding. 
 9. Amendment of Agreement. Except to the extent required by law or specifically contemplated under
this Agreement, neither the Committee nor the Executive Vice President and Chief Administrative Officer of Verizon (or his or her designee) may, without the written consent of the Participant, change any term, condition or provision affecting the
PSUs if the change would have a material adverse effect upon the PSUs or the Participant’s rights thereto. Nothing in the preceding sentence shall preclude the Committee or the Executive Vice President and Chief Administrative Officer of
Verizon (or his or her designee) from exercising administrative discretion with respect to the Plan or this Agreement, and the exercise of such discretion shall be final, conclusive and binding. This discretion includes, but is not limited to,
corrections of any errors, including but not limited to any administrative errors, determining the total percentage of PSUs that become payable, and determining whether the Participant has been discharged for Cause, has a disability, has Retired,
has breached any of the Participant’s Obligations or has satisfied the requirements for vesting and payment under paragraphs 5 and 7 of this Agreement. 

  
 6 

 10. Assignment. The PSUs shall not be assigned, pledged or transferred except by will or by the laws
of descent and distribution. During the Participant’s lifetime, the PSUs may be deferred only by the Participant or by the Participant’s guardian or legal representative in accordance with the deferral regulations, if any, established by
the Company. 
 11. Beneficiary. The Participant shall designate a beneficiary in writing and in such manner as is acceptable to the
Executive Vice President and Chief Administrative Officer of Verizon (or his or her designee). Each such designation shall revoke all prior designations by the Participant with respect to the Participant’s benefits under the Plan and shall be
effective only when filed by the Participant with the Company during the Participant’s lifetime. If the Participant fails to so designate a beneficiary, or if no such designated beneficiary survives the Participant, the Participant’s
beneficiary shall be the Participant’s estate. 
 12. Other Plans and Agreements. Any payment received (or deferred) by the
Participant pursuant to this Agreement shall not be taken into account as compensation in the determination of the Participant’s benefits under any pension, savings, life insurance, severance or other benefit plan maintained by Verizon or a
Related Company. The Participant acknowledges that this Agreement or any prior PSU agreement shall not entitle the Participant to any other benefits under the Plan or any other plans maintained by the Company or Related Company. 

13. Company and Related Company. For purposes of this Agreement, “Company” means Verizon Communications Inc. “Related Company”
means (a) any corporation, partnership, joint venture, or other entity in which Verizon Communications Inc. holds a direct or indirect ownership or proprietary interest of 50 percent or more, or (b) any corporation, partnership, joint
venture, or other entity in which Verizon Communications Inc. holds a direct or indirect ownership or other proprietary interest of less than 50 percent but which, in the discretion of the Committee, is treated as a Related Company for purposes of
this Agreement. 
 14. Employment Status. The grant of the PSUs shall not be deemed to constitute a contract of employment for a
particular term between the Company or a Related Company and the Participant, nor shall it constitute a right to remain in the employ of any such Company or Related Company. 
 15. Withholding. The Participant acknowledges that he or she shall be responsible for any taxes that arise in connection with this grant of PSUs, and the Company shall make such arrangements as it
deems necessary for withholding of any taxes it determines are required to be withheld pursuant to any applicable law or regulation. 
 16.
Securities Laws. The Company shall not be required to make payment with respect to any shares of common stock prior to the admission of such shares to listing on any stock exchange on which the stock may then be listed and the completion of any
registration or qualification of such shares under any federal or state law or rulings or regulations of any government body that the Company, in its discretion, determines to be necessary or advisable. 

17. Committee Authority. The Committee shall have complete discretion in the exercise of its rights, powers, and duties under this Agreement. Any
interpretation or construction of any provision of, and the determination of any question arising under, this Agreement shall be made by the Committee in its discretion, as described in paragraph 9. The Committee and the Audit Committee may
designate any individual or individuals to perform any of its functions hereunder and utilize experts to assist in carrying out their duties hereunder. 

  
 7 

 18. Successors. This Agreement shall be binding upon, and inure to the benefit of, any successor or
successors of the Company and the person or entity to whom the PSUs may have been transferred by will, the laws of descent and distribution, or beneficiary designation. All terms and conditions of this Agreement imposed upon the Participant shall,
unless the context clearly indicates otherwise, be deemed, in the event of the Participant’s death, to refer to and be binding upon the Participant’s heirs and beneficiaries. 
 19. Construction. In the event that any provision of this Agreement is held invalid or unenforceable, such provision shall be considered separate and apart from the remainder of this Agreement,
which shall remain in full force and effect. In the event that any provision, including any of the Participant’s Obligations, is held to be unenforceable for being unduly broad as written, such provision shall be deemed amended to narrow its
application to the extent necessary to make the provision enforceable according to applicable law and shall be enforced as amended. The PSUs are intended to qualify as “performance-based compensation” within the meaning of
Section 162(m) of the Code, and to not be subject to any tax, interest or penalty under Section 409A of the Code, and this Agreement shall be construed and interpreted consistent with such intents. 

20. Defined Terms. Except where the context clearly indicates otherwise, all capitalized terms used herein shall have the definitions ascribed to
them by the Plan, and the terms of the Plan shall apply where appropriate. 
 21. Execution of Agreement. The Participant shall indicate
his or her consent and acknowledgment to the terms of this Agreement (including the Participant’s Obligations) and the Plan by executing this Agreement pursuant to the instructions provided and otherwise shall comply with the requirements of
paragraph 3. In addition, by consenting to the terms of this Agreement and the Participant’s Obligations, the Participant expressly agrees and acknowledges that Fidelity may deliver all documents, statements and notices associated with the Plan
and this Agreement to the Participant in electronic form. The Participant and Verizon hereby expressly agree that the use of electronic media to indicate confirmation, consent, signature, acceptance, agreement and delivery shall be legally valid and
have the same legal force and effect as if the Participant and Verizon executed this Agreement (including the Participant’s Obligations) in paper form. 
 22. Confidentiality. Except to the extent otherwise required by law, the Participant shall not disclose, in whole or in part, any of the terms of this Agreement. This paragraph 22 does not prevent
the Participant from disclosing the terms of this Agreement to the Participant’s spouse or beneficiary or to the Participant’s legal, tax, or financial adviser, provided that the Participant take all reasonable measures to assure that the
individual to whom disclosure is made does not disclose the terms of this Agreement to a third party except as otherwise required by law. 

23. Applicable Law. The validity, construction, interpretation and effect of this Agreement shall be governed by and construed in accordance with
the laws of the State of New York, without giving effect to the conflicts of laws provisions thereof. 
 24. Notice.
Any notice to the Company provided for in this Agreement shall be addressed to the Company in care of the Executive Vice President and Chief Administrative Officer of Verizon at 140 West Street, 29th Floor, New York, New York 10007 and any notice to the Participant
shall be addressed to the Participant at the current address shown on the payroll of the Company, or to such other address as the Participant may designate to the Company in writing. Any notice shall be delivered by hand, sent by telecopy, sent by
overnight carrier, or enclosed in a properly sealed envelope as stated above, registered and deposited, postage prepaid, in a post office regularly maintained by the United States Postal Service. 

  
 8 

 25. Dispute Resolution. 
 (a) General. Except as otherwise provided in paragraph 26 below, all disputes arising under or related to the Plan or this Agreement and all claims in which a Participant seeks damages or other
relief that relate in any way to PSUs or other benefits of the Plan are subject to the dispute resolution procedure described below in this paragraph 25. 
 (i) For purposes of this Agreement, the term “Units Award Dispute” shall mean any claim against the Company or a Related Company, other than Employment Claims described in paragraph (a)(ii)
below, regarding (A) the interpretation of the Plan or this Agreement, (B) any of the terms or conditions of the PSUs issued under this Agreement, or (C) allegations of entitlement to PSUs or additional PSUs, or any other benefits,
under the Plan or this Agreement; provided, however, that any dispute relating to the Participant’s Obligations or to the forfeiture of an award as a result of a breach of any of the Participant’s Obligations shall not be subject to the
dispute resolution procedures provided for in this paragraph 25. 
 (ii) For purposes of this Agreement, the term “Units
Damages Dispute” shall mean any claims between the Participant and the Company or a Related Company (or against the past or present directors, officers, employees, representatives, or agents of the Company or a Related Company, whether acting
in their capacity as such or otherwise), that are related in any way to the Participant’s employment or former employment, including claims of alleged employment discrimination, wrongful termination, or violations of Title VII of the Civil
Rights Act of 1964, the Americans with Disabilities Act, the Age Discrimination in Employment Act, 42 U.S.C. § 1981, the Fair Labor Standards Act, the Family Medical Leave Act, the Sarbanes-Oxley Act, or any other U.S. federal, state or local
law, statute, regulation, or ordinance relating to employment or any common law theories of recovery relating to employment, such as breach of contract, tort, or public policy claims (“Employment Claims”), in which the damages or other
relief sought relate in any way to PSUs or other benefits of the Plan or this Agreement. 
 (b) Internal Dispute Resolution
Procedure. All Units Award Disputes, and all Units Damages Dispute alleging breach of contract, tort, or public policy claims with respect to the Plan or this Agreement (collectively, “Plan Disputes”), shall be referred in the first
instance to the Verizon Employee Benefits Committee (“EB Committee”) for resolution internally within Verizon. Except where otherwise prohibited by law, all Plan Disputes must be filed in writing with the EB Committee no later than one
year from the date that the dispute accrues. Consistent with paragraph 25(c)(i) of this Agreement, all decisions relating to the enforceability of the limitations period contained herein shall be made by the arbitrator. To the fullest extent
permitted by law, the EB Committee shall have full power, discretion, and authority to interpret the Plan and this Agreement and to decide all Plan Disputes brought under this Plan and Agreement. Determinations made by the EB Committee shall be
final, conclusive and binding, subject only to review by arbitration pursuant to paragraph (c) below under the arbitrary and capricious standard of review. 
 (c) Arbitration. All appeals from determinations by the EB Committee as described in paragraph (b) above, and any Units Damages Dispute, shall be fully and finally settled by arbitration
administered by the American Arbitration Association (“AAA”) on an individual basis (and not on a collective or class action basis) before a single arbitrator pursuant to the AAA’s Commercial

  
 9 

 
Arbitration Rules in effect at the time any such arbitration is initiated. Any such arbitration must be initiated in writing pursuant to the aforesaid rules of the AAA no later than one year from
the date that the claim accrues, except where a longer limitations period is required by applicable law. Decisions about the applicability of the limitations period contained herein shall be made by the arbitrator. A copy of the AAA’s
Commercial Arbitration Rules may be obtained from Human Resources. The Participant agrees that the arbitration shall be held at the office of the AAA nearest the place of the Participant’s most recent employment by the Company or a Related
Company, unless the parties agree in writing to a different location. All claims by the Company or a Related Company against the Participant, except for breaches of any of the Participant’s Obligations, may also be raised in such arbitration
proceedings. 
 (i) The arbitrator shall have the authority to determine whether any dispute submitted for arbitration hereunder
is arbitrable. The arbitrator shall decide all issues submitted for arbitration according to the terms of the Plan, this Agreement (except for breaches of any of the Participant’s Obligations), existing Company policy, and applicable
substantive New York State and U.S. federal law and shall have the authority to award any remedy or relief permitted by such laws. The final decision of the EB Committee with respect to a Plan Dispute shall be upheld unless such decision was
arbitrary or capricious. The decision of the arbitrator shall be final, conclusive, not subject to appeal, and binding and enforceable in any applicable court. 
 (ii) The Participant understands and agrees that, pursuant to this Agreement, both the Participant and the Company or a Related Company waive any right to sue each other in a court of law or equity, to
have a trial by jury, or to resolve disputes on a collective, or class, basis (except for breaches of any of the Participant’s Obligations), and that the sole forum available for the resolution of Units Award Disputes and Units Damages Disputes
is arbitration as provided in this paragraph 25. If an arbitrator or court finds that the arbitration provisions of this Agreement are not enforceable, both Participant and the Company or a Related Company understand and agree to waive their right
to trial by jury of any Units Award Dispute or Units Damages Dispute. This dispute resolution procedure shall not prevent either the Participant or the Company or a Related Company from commencing an action in any court of competent jurisdiction for
the purpose of obtaining injunctive relief to prevent irreparable harm pending and in aid of arbitration hereunder; in such event, both the Participant and the Company or a Related Company agree that the party who commences the action may proceed
without necessity of posting a bond. 
 (iii) In consideration of the Participant’s agreement in paragraph
(ii) above, the Company or a Related Company will pay all filing, administrative and arbitrator’s fees incurred in connection with the arbitration proceedings. If the AAA requires the Participant to pay the initial filing fee, the Company
or a Related Company will reimburse the Participant for that fee. All other fees incurred in connection with the arbitration proceedings, including but not limited to each party’s attorney’s fees, will be the responsibility of such party.

 (iv) The parties intend that the arbitration procedure to which they hereby agree shall be the exclusive means for resolving
all Units Award Disputes (subject to the mandatory EB Committee procedure provided for in paragraph 25(b) above) and Units Damages Disputes. Their agreement in this regard shall be interpreted as broadly and inclusively as reason permits to realize
that intent. 

  
 10 

 (v) The Federal Arbitration Act (“FAA”) shall govern the enforceability of this
paragraph 25. If for any reason the FAA is held not to apply, or if application of the FAA requires consideration of state law in any dispute arising under this Agreement or subject to this dispute resolution provision, the laws of the State of New
York shall apply without giving effect to the conflicts of laws provisions thereof. 
 (vi) To the extent an arbitrator
determines that the Participant was not terminated for Cause and is entitled to the PSUs or any other benefits under the Plan pursuant to the provisions applicable to an involuntary termination without Cause, the Participant’s obligation to
execute a release satisfactory to Verizon as provided under paragraph 7(b)(2) shall remain applicable in order to receive the benefit of any PSUs pursuant to this Agreement. 
 26. Additional Remedies. Notwithstanding the dispute resolution procedures, including arbitration, of paragraph 25 of this Agreement, and in addition to any other rights or remedies, whether legal,
equitable, or otherwise, that each of the parties to this Agreement may have (including the right of the Company to terminate the Participant for Cause or to involuntarily terminate the Participant without Cause), the Participant acknowledges
that— 
 (a) The Participant’s Obligations are essential to the continued goodwill and profitability of the Company and
any Related Company; 
 (b) The Participant has broad-based skills that will serve as the basis for other employment
opportunities that are not prohibited by the Participant’s Obligations; 
 (c) When the Participant’s employment with
the Company or any Related Company terminates, the Participant shall be able to earn a livelihood without violating any of the Participant’s Obligations; 
 (d) Irreparable damage to the Company or any Related Company shall result in the event that the Participant’s Obligations are not specifically enforced and that monetary damages will not adequately
protect the Company and any Related Company from a breach of these Participant’s Obligations; 
 (e) If any dispute arises
concerning the violation or anticipated or threatened violation by the Participant of any of the Participant’s Obligations, an injunction may be issued restraining such violation pending the determination of such controversy, and no bond or
other security shall be required in connection therewith; 
 (f) The Participant’s Obligations shall continue to apply after
any expiration, termination, or cancellation of this Agreement; 
 (g) The Participant’s breach of any of the
Participant’s Obligations shall result in the Participant’s immediate forfeiture of all rights and benefits, including all PSUs and DEUs, under this Agreement; and 
 (h) All disputes relating to the Participant’s Obligations, including their interpretation and enforceability and any damages (including but not limited to damages resulting in the forfeiture of an
award or benefits under this Agreement) that may result from the breach of such Participant’s Obligations shall not be subject to the dispute resolution procedures, including arbitration, of paragraph 25 of this Agreement, but shall instead be
determined in a court of competent jurisdiction. 

  
 11 

 Exhibit A — Participant’s Obligations 

As part of the Agreement to which this Exhibit A is attached, you, the Participant, agree to the following obligations: 

1. Noncompetition — 

(a) Prohibited Conduct — During the period of your employment with the Company or any Related Company, and for a period ending
twelve (12) months following a termination of your employment for any reason with the Company or any Related Company, you shall not, without the prior written consent of the Executive Vice President and Chief Administrative Officer of Verizon
(or his or her designee): 
 (1) personally engage in Competitive Activities (as defined below); or 

(2) work for, own, manage, operate, control, or participate in the ownership, management, operation, or control of, or provide consulting
or advisory services to, any person, partnership, firm, corporation, institution or other entity engaged in Competitive Activities, or any company or person affiliated with such person, partnership, firm, corporation, institution or other entity
engaged in Competitive Activities; provided that your purchase or holding, for investment purposes, of securities of a publicly traded company shall not constitute “ownership” or “participation in the ownership” for purposes of
this paragraph so long as your equity interest in any such company is less than a controlling interest; 
 provided that this
paragraph (a) shall not prohibit you from (i) being employed by, or providing services to, a consulting firm, provided that you do not personally engage in Competitive Activities or provide consulting or advisory services to any person,
partnership, firm, corporation, institution or other entity engaged in Competitive Activities, or any person or entity affiliated with such person, partnership, firm, corporation, institution or other entity engaged in Competitive Activities, or
(ii) engaging in the practice of law as an in-house counsel, sole practitioner or as a partner in (or as an employee of or counsel to) a corporation or law firm in accordance with applicable legal and professional standards. Exception (ii),
however, does not apply to any Participant that may be engaging in Competitive Activities or providing services to any person, partnership, firm, corporation, institution or other entity engaged in Competitive Activities, wherein such engagement or
services being provided are not primarily the practice of law. 
 (b) Competitive Activities — For purposes of the
Agreement, to which this Exhibit A is attached, “Competitive Activities” means any activities relating to products or services of the same or similar type as the products or services (1) which were or are sold (or, pursuant to an
existing business plan, will be sold) to paying customers of the Company or any Related Company, and (2) for which you have any direct or indirect responsibility or any involvement to plan, develop, manage, market, sell, oversee, support,
implement or perform, or had any such responsibility or involvement within your most recent 24 months of employment with the Company or any Related Company. Notwithstanding the previous sentence, an activity shall not be treated as a Competitive
Activity if the geographic marketing area of such same or similar products or services does not overlap with the geographic marketing area for the applicable products and services of the Company or any Related Company. 

2. Interference With Business Relations — During the period of your employment with the Company or any Related Company, and for a period
ending twelve (12) months following a termination of your 

  
 12 

 
employment for any reason with the Company or any Related Company, you shall not, without the prior written consent of the Executive Vice President and Chief Administrative Officer of Verizon (or
his or her designee): 
 (a) recruit, induce or solicit, directly or indirectly, any employee of the Company or Related
Company for employment or for retention as a consultant or service provider to any person or entity; 
 (b) hire or
participate (with another person or entity) in the process of recruiting, soliciting or hiring, directly or indirectly, (other than for the Company or any Related Company) any person who is then an employee of the Company or any Related Company, or
provide, directly or indirectly, names or other information about any employees of the Company or Related Company to any person or entity (other than to the Company or any Related Company) under circumstances that could lead to the use of any such
information for purposes of recruiting, soliciting or hiring any such employee for any person or entity; 
 (c) interfere,
or attempt to interfere, directly or indirectly, with any relationship of the Company or any Related Company with any of its employees, agents, or representatives; 
 (d) solicit or induce, or in any manner attempt to solicit or induce, directly or indirectly, any client, customer, or prospect of the Company or any Related Company (1) to cease being, or not
to become, a customer of the Company or any Related Company, or (2) to divert any business of such customer or prospect from the Company or any Related Company; or 
 (e) otherwise interfere with, disrupt, or attempt to interfere with or disrupt, directly or indirectly, the relationship, contractual or otherwise, between the Company or any Related Company and
any of its customers, clients, prospects, suppliers, consultants, employees, agents, or representatives. 
 3. Effect of a Material
Restatement of Financial Results; Recoupment 
 (a) General. Notwithstanding anything in this Agreement to the
contrary, you agree that, with respect to all PSUs granted to you on or after January 1, 2007 and all short-term incentive awards made to you on or after January 1, 2007, to the extent the Company or any Related Company is required to
materially restate any financial results based upon your willful misconduct or gross negligence while employed by the Company or any Related Company (and where such restatement would have resulted in a lower payment being made to you), you will be
required to repay all previously paid or deferred (i) PSUs and (ii) short-term incentive awards that were provided to you during the performance periods that are the subject of the restated financial results, plus a reasonable rate of
interest. For purposes of this paragraph, “willful misconduct” and “gross negligence” shall be as determined by the Committee. The Audit Committee of the Verizon Board of Directors shall determine whether a material restatement
of financial results has occurred. If you do not repay the entire amount required under this paragraph, the Company may, to the extent permitted by applicable law, offset your obligation to repay against any source of income available to it,
including but not limited to any money you may have in your nonqualified deferral accounts. 
 (b) Requirements of Recoupment
Policy or Applicable Law. The repayment rights contained in paragraph 3(a) of Exhibit A shall be in addition to, and shall not limit, any other rights or remedies that the Company may have under law or in equity, including, without limitation,
(i) any right that the Company may have under any Company recoupment policy that may apply to you, or (ii) any right or obligation that the Company may have regarding the clawback of “incentive-based compensation” under
Section 10D of the Securities Exchange Act of 1934, as amended (as determined by the applicable rules and regulations promulgated thereunder from time to time by the U.S. Securities and 

  
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Exchange Commission) or under any other applicable law. By accepting this award of PSUs, you agree and consent to the Company’s application, implementation and enforcement of any such
Company recoupment policy (as it may be in effect from time to time) that may apply to you and any provision of applicable law relating to cancellation, rescission, payback or recoupment of compensation and expressly agree that the Company may take
such actions as are permitted under any such policy (as applicable to you) or applicable law, such as the cancellation of PSUs and repayment of amounts previously paid or deferred with respect to any previously granted PSUs or short-term incentive
awards, without further consent or action being required by you. 
 4. Return Of Company Property; Ownership of Intellectual Property Rights
— You agree that on or before termination of your employment for any reason with the Company or any Related Company, you shall return to the Company all property owned by the Company or any Related Company or in which the Company or any
Related Company has an interest or to which the Company or any Related Company has any obligation, including any and all files, documents, data, records and any other non-public information (whether on paper or in tapes, disks, memory devices, or
other machine-readable form), office equipment, credit cards, and employee identification cards. You acknowledge that the Company (or, as applicable, a Related Company) is the rightful owner of, and you hereby do grant and assign, all right, title
and interest in and to any programs; ideas, inventions and discoveries (patentable or unpatentable); works of authorship, data, information, and other copyrightable material; and trademarks that you may have originated, created or developed, or
assisted or participated in originating, creating or developing, during your period of employment with the Company or a Related Company, including all intellectual property rights in or based on the foregoing, where any such origination, creation or
development (a) involved any use of Company or Related Company time, information or resources, (b) was made in the exercise of any of your duties or responsibilities for or on behalf of the Company or a Related Company, or (c) was
related to (i) the Company’s or a Related Company’s past, present or future business, or (ii) the Company’s or a Related Company’s actual or demonstrably anticipated research, development or procurement activities. You
shall at all times, both before and after termination of your employment, cooperate with the Company (or, as applicable, any Related Company) and its representatives in executing and delivering documents requested by the Company or a Related
Company, and taking any other actions, that are necessary or requested by the Company or a Related Company to assist the Company or any Related Company in patenting, copyrighting, protecting, registering, or enforcing any programs; ideas, inventions
and discoveries (patentable or unpatentable); works of authorship, data, information, and other copyrightable material; trademarks; or other intellectual property rights, and to vest title thereto solely in the Company (or, as applicable, a Related
Company). 
 5. Proprietary And Confidential Information — You shall at all times, including after any termination of your
employment with the Company or any Related Company, preserve the confidentiality of all Proprietary Information (defined below) and trade secrets of the Company or any Related Company, and you shall not use for the benefit of yourself or any person,
other than the Company or a Related Company, or disclose to any person, except and to the extent that disclosure of such information is legally required, any Proprietary Information or trade secrets of the Company or any Related Company.
“Proprietary Information” means any information or data related to the Company or any Related Company, including information entrusted to the Company or a Related Company by others, which has not been fully disclosed to the public by the
Company or a Related Company, which is treated as confidential or otherwise protected within the Company or any Related Company or is of value to competitors, such as strategic or tactical business plans; undisclosed business, operational or
financial data; ideas, processes, methods, techniques, systems, models, devices, programs, computer software, or related information; documents relating to regulatory matters or correspondence with governmental entities; information concerning any
past, pending, or threatened legal dispute; pricing or cost data; the identity, reports or analyses of business prospects; business transactions (including those that are contemplated or planned); research data; personnel information or data;
identities of suppliers to the 

  
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Company or any Related Company or users or purchasers of the Company’s or Related Company’s products or services; the Agreement to which this Exhibit A is attached; and any other
non-public information pertaining to or known by the Company or a Related Company, including confidential or non-public information of a third party that you know or should know the Company or a Related Company is obligated to protect. 

6. Definitions. Except where clearly provided to the contrary or as otherwise defined in this Exhibit A, all capitalized terms used in this
Exhibit A shall have the definitions given to those terms in the Agreement to which this Exhibit A is attached. 
 7. Agreement to
Participant’s Obligations. You shall indicate your agreement to these Participant’s Obligations in accordance with the instructions provided in the Agreement, and your acceptance of the Agreement shall include your acceptance of these
Participant’s Obligations. As stated in paragraph 21 of the Agreement, you and Verizon hereby expressly agree that the use of electronic media to indicate confirmation, consent, signature, acceptance, agreement and delivery shall be legally
valid and have the same legal force and effect as if you and Verizon executed these Participant’s Obligations in paper form. 

  
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