Document:

Registration Rights Agreement dated as of March 30, 2010

 Exhibit 4.8 

 
  

REGISTRATION RIGHTS AGREEMENT 

Dated as of March 30, 2010 

among 

AMÉRICA MÓVIL, S.A.B. de C.V., 

RADIOMÓVIL DIPSA, S.A. de C.V. 

and 
 CITIGROUP
GLOBAL MARKETS INC., 
 GOLDMAN, SACHS & CO. 

and 
 J.P. MORGAN
SECURITIES INC., 
 as Representatives of the Initial Purchasers 

 
  

 REGISTRATION RIGHTS AGREEMENT dated as of March 30, 2010 (this
“Agreement”) is entered into by and among América Móvil, S.A.B. de C.V. (the “Company”), a sociedad anónima bursátil de capital variable organized under the laws of the United
Mexican States (“Mexico”), Radiomóvil Dipsa, S.A. de C.V. (the “Guarantor”), a sociedad anónima de capital variable, organized under the laws of Mexico, and Citigroup Global Markets Inc.,
Goldman, Sachs & Co. and J.P. Morgan Securities Inc., as representatives (the “Representatives”), of the initial purchasers named in Schedule 1 to the Purchase Agreement referred to below (the “Initial
Purchasers”). 
 The Company, the Guarantor and the Representatives are parties to the Purchase Agreement dated
March 23, 2010 (the “Purchase Agreement”), which provides for the sale by the Company to the Initial Purchasers of U.S.$750,000,000 principal amount of its 3.625% Senior Notes due 2015 (the “2015 Notes”),
U.S.$2,000,000,000 principal amount of its 5.000% Senior Notes due 2020 (the “2020 Notes”) and U.S.$1,250,000,000 principal amount of its 6.125% Senior Notes due 2040 (the “2040 Notes” and, together with the 2015
Notes and the 2020 Notes, the “Notes”). The Notes will be guaranteed as to the payment of principal, premium, if any, interest and other amounts payable pursuant to the Indenture (as defined below) by the Guarantor (the
“Guarantees”). As an inducement to the Initial Purchasers to enter into the Purchase Agreement, the Company and the Guarantor have agreed to provide to the Initial Purchasers and their direct and indirect transferees the
registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to the closing under the Purchase Agreement. 

In consideration of the foregoing, the parties hereto agree as follows: 

1. Definitions. As used in this Agreement, the following terms shall have the following meanings: 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New
York City or Mexico City are authorized or required by law, regulation or executive order to remain closed. 

“Closing Date” shall have the meaning set forth in the Purchase Agreement. 

“Company” shall have the meaning set forth in the preamble and shall also include the Company’s
successors. 
 “Depositary” means The Depository Trust Company until a successor Depositary
should have become Depositary pursuant to the applicable provisions of the Indenture, and the thereafter “Depositary” should mean such successor Depositary. 

“Euro MTF” means the Euro MTF, the alternative market of the Luxembourg Stock Exchange. 

 

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 “Exchange Act” means the U.S. Securities Exchange Act of
1934, as amended. 
 “Exchange Dates” shall have the meaning set forth in Section 2(a)(ii)
hereof. 
 “Exchange Notes” means the 3.625% Senior Notes due 2015, the 5.000% Senior Notes due
2020 and the 6.125% Senior Notes due 2040 issued by the Company under the Indenture containing terms substantially identical to the 2015 Notes, the 2020 Notes and the 2040 Notes, respectively (except that (i) interest thereon shall accrue from
the last date to which interest has been paid or duly provided for on the Notes of such series or, if no such interest has been paid or duly provided for, from the Closing Date, (ii) the transfer restrictions and legends relating to
restrictions on ownership and transfer thereof as a result of the issuance of the Notes of such series without registration under the Securities Act shall be eliminated and (iii) each of the 3.625% Senior Notes due 2015, the 5.000% Senior Notes
due 2020 and the 6.125% Senior Notes due 2040 shall be represented by one or more global Exchange Notes in book-entry form unless exchanged for Exchange Notes in definitive certificated form under the limited circumstances provided in the Indenture)
to be offered to Holders of the Registrable Notes of such series in exchange for such Registrable Notes pursuant to the Exchange Offer. 

“Exchange Offer” means an exchange offer by the Company and the Guarantor of Exchange Notes for
Registrable Notes pursuant to Section 2(a) hereof. 
 “Exchange Offer Registration” means a
registration under the Securities Act effected pursuant to Section 2(a) hereof. 
 “Exchange Offer
Registration Statement” means an exchange offer registration statement on Form F-4 (or, if applicable, on another appropriate form) and all amendments and supplements to such registration statement, in each case including the Prospectus
contained therein, all exhibits thereto and any document incorporated by reference therein. 
 “Free
Writing Prospectus” means each free writing prospectus (as defined in Rule 405 under the Securities Act) prepared by or on behalf of the Company or used or referred to by the Company in connection with the offer or sale of Notes or Exchange
Notes. 
 “Guarantees” shall have the meaning set forth in the preamble. 

“Guarantor” shall have the meaning set forth in the preamble and shall also include the Guarantor’s
successors. 
  

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 “Holder” means any of the Initial Purchasers, for so long
as it owns any Registrable Notes, and each of its successors, assigns and direct and indirect transferees who become owners of Registrable Notes under the Indenture; provided that for purposes of Sections 4 and 5 hereof, the term
“Holders” shall include Participating Broker-Dealers. 
 “Indenture” means,
collectively, the Indenture dated as of September 30, 2009 among the Company, the Guarantor and The Bank of New York Mellon, as trustee, (i) in the case of the 2015 Notes, as supplemented by the Second Supplemental Indenture, dated as of
the date hereof among the Company, the Guarantor, The Bank of New York Mellon, as trustee, security registrar, principal paying agent and transfer agent, and The Bank of New York Mellon (Luxembourg) S.A., as Luxembourg paying agent and transfer
agent, relating to the 2015 Notes, (ii) in the case of the 2020 Notes, as supplemented by the Third Supplemental Indenture, dated as of the date hereof among the Company, the Guarantor, The Bank of New York Mellon, as trustee, security
registrar, principal paying agent and transfer agent, and The Bank of New York Mellon (Luxembourg) S.A., as Luxembourg paying agent and transfer agent, relating to the 2020 Notes and (iii) in the case of the 2040 Notes, as supplemented by the
Fourth Supplemental Indenture, dated as of the date hereof among the Company, the Guarantor, The Bank of New York Mellon, as trustee, security registrar, principal paying agent and transfer agent, and The Bank of New York Mellon (Luxembourg) S.A.,
as Luxembourg paying agent and transfer agent, relating to the 2040 Notes, in each case, as amended from time to time in accordance with the terms thereof. 

“Initial Purchasers” shall have the meaning set forth in the preamble. 

“Issuer Information” shall have the meaning set forth in Section 5(a) hereof. 

“Majority Holders” means the Holders of a majority of the aggregate principal amount of a series of
outstanding Registrable Notes; provided that, whenever the consent or approval of Holders of a specified percentage of a series of Registrable Notes is required hereunder, Registrable Notes or Exchange Notes owned directly or indirectly by
the Company or any of its 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 or amount. 

“Participating Broker-Dealers” shall have the meaning set forth in Section 4(a) hereof. 

 

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 “Person” means an individual, partnership, limited
liability company, corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof. 

“Prospectus” means the prospectus included in a Registration Statement, including any preliminary
prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including a prospectus supplement with respect to the terms of the offering of any portion of the Registrable Notes covered by a Shelf Registration
Statement, and by all other amendments and supplements to such prospectus, and in each case including any document incorporated by reference therein. 

“Purchase Agreement” shall have the meaning set forth in the preamble. 

“Registrable Notes” means all of the Notes; provided that the Notes of a series shall cease to be
Registrable Notes when (i) a Registration Statement with respect to the Notes of such series shall have become effective under the Securities Act and such Notes shall have been disposed of pursuant to such Registration Statement, (ii) such
Notes shall have ceased to be outstanding or (iii) such Notes have been exchanged for Exchange Notes which have been registered pursuant to an Exchange Offer Registration Statement upon consummation of the Exchange Offer relating to such series
of Notes unless, in the case of any Exchange Notes referred to in this clause (iii), such Exchange Notes are held by a Participating Broker-Dealer or otherwise are not freely tradable without any limitations or restrictions under the Securities Act
(in which case such Exchange Notes will be deemed to be Registrable Notes until expiration of the period specified in Section 4(b) hereof). 

“Registration Expenses” means any expenses and costs incident to performance of or compliance by the
Company and the Guarantor with this Agreement, including without limitation: (i) all SEC or Financial Industry Regulatory Authority registration and filing fees, (ii) all fees and expenses incurred in connection with compliance with state
securities or blue sky laws in jurisdictions designated pursuant to Section 3(e) hereof (including reasonable and documented fees and disbursements of counsel for any Underwriters or Holders in connection with blue sky qualification of any
Exchange Notes or any Registrable Notes), (iii) all expenses of any Persons in preparing or assisting in preparing, word processing, printing and distributing any Registration Statement, any Prospectus, any Free Writing Prospectus and any
amendments or supplements thereto, any underwriting agreements, securities sales agreements or other similar agreements and any other documents relating to the performance of and compliance with this Agreement, (iv) any rating agency fees,
(v) all fees and disbursements relating to the qualification of the Indenture under applicable securities laws, (vi) the fees and disbursements of the Trustee and its counsel, (vii) the fees and disbursements of U.S. and Mexican and
other counsel to the 
  

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Company and Guarantor, and, in the case of a Shelf Registration Statement, the reasonable and documented fees and expenses of one U.S. counsel and, if applicable, one Mexican counsel, for the
Holders, the Underwriters and the Initial Purchasers (which counsel shall be Simpson Thacher & Bartlett LLP and Mijares, Angoitia, Cortés y Fuentes, S.C. or such other counsel as may be selected by the Majority Holders of the series
of Registrable Notes covered by such Shelf Registration Statement and which counsel may also be counsel for the Initial Purchasers), (viii) all fees relating to the listing of any Exchange Notes or any Registrable Notes on the Luxembourg Stock
Exchange for trading on the Euro MTF, (ix) the fees and disbursements of the independent public accountants of the Company and the Guarantor; however, the term “Registration Expenses” shall exclude fees and expenses of counsel for the
Underwriters (other than fees and expenses set forth in clauses (ii) and (vii) above) or the Holders and underwriting discounts and commissions and transfer taxes, if any, relating to the sale or disposition of Registrable Notes by a
Holder. 
 “Registration Statement” means any registration statement of the Company and the
Guarantor that covers any Exchange Notes or any Registrable Notes pursuant to the provisions of this Agreement and all amendments and supplements to any such registration statement, including post-effective amendments, in each case including each
Prospectus contained therein, all exhibits thereto and any document incorporated by reference therein. 

“Rule 144” means Rule 144 under the Securities Act, as such Rule may be amended from time to time, or any
successor provision to such Rule. 
 “Rule 144A” means Rule 144A under the Securities Act, as
such Rule may be amended from time to time, or any successor provision to such Rule. 
 “SEC”
means the U.S. Securities and Exchange Commission. 
 “Securities Act” means the U.S. Securities
Act of 1933, as amended from time to time. 
 “Shelf Effectiveness Period” shall have the
meaning set forth in Section 2(b) hereof. 
 “Shelf Registration” means a registration
effected pursuant to Section 2(b) hereof. 
 “Shelf Registration Statement” means a
“shelf” registration statement of the Company and the Guarantor that covers all the Registrable Notes of a series (but no other securities unless approved by the Holders whose Registrable Notes are to be covered by such Shelf Registration
Statement) on an appropriate form under Rule 415 under the Securities Act, or any similar rule that may be adopted 
  

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by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case including each Prospectus contained therein, all exhibits thereto
and any document incorporated by reference therein. 
 “Trust Indenture Act” means the U.S.
Trust Indenture Act of 1939, as amended from time to time, and any rules, regulations and forms promulgated thereunder. 

“Trustee” means the Trustee with respect to each series of Notes under the Indenture. 

“Underwriter” shall have the meaning set forth in Section 3 hereof. 

“Underwritten Offering” means an offering in which Registrable Notes are sold to an Underwriter for
reoffering to the public. 
 For purposes of this Agreement, all references in this Agreement to: (i) any Registration
Statement, preliminary prospectus or Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the version filed with the SEC pursuant to its EDGAR; (ii) financial statements and schedules and other
information which is “contained,” “included” or “stated” in any Registration Statement or Prospectus (or other similar references) shall be deemed to mean and include all such financial statements and schedules and
other information which is incorporated or deemed to be incorporated by reference in such Registration Statement or Prospectus, as the case may be; (iii) amendments or supplements to any Registration Statement or Prospectus shall be deemed to
mean and include the filing of any document under the Exchange Act which is incorporated or deemed to be incorporated by reference in such Registration Statement or Prospectus, as the case may be; (iv) Rule 144, Rule 144A or Rule 405 under the
Securities Act, and all references to any sections or subsections thereof or terms defined therein, shall be deemed to mean and include any successor provisions thereto; and (v) “days” (but not to Business Days) means calendar days.

 For purposes of this Agreement, all references to “Notes,” “Exchange Notes” or “Registrable
Notes” shall be deemed to include the related Guarantees of such Notes, Exchange Notes or Registrable Notes by the Guarantor pursuant to the Indenture, except where otherwise indicated or the context otherwise requires. 

2. Registration Under the Securities Act. (a) To the extent not prohibited by any applicable law or applicable
interpretations of the Staff of the SEC and except in the circumstances contemplated by Section 2(b)(i) hereof, the Company and the Guarantor shall use their reasonable best efforts to (i) cause to be filed with the SEC one or more
Exchange Offer Registration Statements covering an offer to the Holders to exchange all Registrable Notes for Exchange Notes as soon as practicable following the Closing Date, (ii) cause such Exchange Offer Registration Statement or Statements
to 
  

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become effective under the Securities Act as soon as practicable following filing with the SEC and (iii) have such Exchange Offer Registration Statement or Statements remain effective until
the earlier of (A) 120 days after the closing of the Exchange Offer relating to the series of Registrable Notes covered by such Exchange Offer Registration Statement and (B) such time as all Participating Broker-Dealers no longer own any
Registrable Notes of such series. The Company and the Guarantor shall use their reasonable best efforts to commence each Exchange Offer promptly after the related Exchange Offer Registration Statement is declared effective by the SEC and to complete
such Exchange Offer not later than 60 days after such effective date. For purposes of this Agreement, an Exchange Offer for a series of Notes shall be deemed completed upon the earlier to occur of (i) the Company and the Guarantor having
exchanged Exchange Notes for all outstanding Registrable Notes of such series (other than those held by Holders that are ineligible to participate in such Exchange Offer) pursuant to such Exchange Offer and (ii) the Company and the Guarantor
having exchanged, pursuant to such Exchange Offer, Exchange Notes for all Registrable Notes of such series that have been properly tendered and not withdrawn before the expiration of such Exchange Offer; provided, however, that the Company and the
Guarantor may, in their discretion, accept tenders of Registrable Notes of such series for Exchange Notes subsequent to the date the Company and the Guarantor consummate such Exchange Offer with respect to Registrable Notes of such series tendered
as of the date of initial consummation, and the Exchange Offer shall be deemed to have been consummated for such series of Notes notwithstanding any such extension of the tender period. 

The Company and the Guarantor shall commence each Exchange Offer by mailing the related Prospectus, appropriate letters of transmittal
and other accompanying documents to each Holder of Registrable Notes of the series covered by such Exchange Offer stating, in addition to such other disclosures as are required by applicable law: 

(i) that such Exchange Offer is being made pursuant to this Agreement and that all Registrable Notes of such series
validly tendered and not properly withdrawn will be accepted for exchange; 
 (ii) the dates of acceptance for
exchange (which shall be a period of at least 20 Business Days from the date such notice is mailed) (the “Exchange Dates”); 

(iii) that any Registrable Note of such series not tendered will remain outstanding and continue to accrue interest but
will not retain any rights under this Agreement; 
 (iv) that any Holder electing to have a Registrable Note of
such series exchanged pursuant to such Exchange Offer will be required to surrender such Registrable Note, together with the appropriate letters of transmittal, to the institution and at the address (located in New York City) and in the manner
specified in the notice, prior to the close of business on the last Exchange Date; and 
  

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 (v) that any Holder will be entitled to withdraw its election, not later
than the close of business on the last Exchange Date, in the manner specified in such notice. 
 As a condition to participating
in an Exchange Offer, a Holder of Registrable Notes of the series covered by such Exchange Offer will be required to represent to the Company and the Guarantor that (i) any Exchange Notes to be received by it will be acquired in the ordinary
course of its business, (ii) at the time of the commencement of such Exchange Offer it has no arrangement or understanding with any Person to participate in the distribution (within the meaning of the Securities Act) of the Exchange Notes to be
issued in such Exchange Offer in violation of the provisions of the Securities Act, (iii) it is not an “affiliate” (within the meaning of Rule 405 under Securities Act) of the Company or the Guarantor and (iv) if such Holder is a
broker-dealer, that it will receive any Exchange Notes to be issued in such Exchange Offer for its own account in exchange for Registrable Notes that were acquired as a result of market-making or other trading activities, and that it will deliver,
to the extent required by applicable law or regulation or SEC pronouncement, a Prospectus in connection with any resale of such Exchange Notes. 

As soon as practicable after the last Exchange Date, the Company and the Guarantor shall: 

(i) accept for exchange Registrable Notes of such series or portions thereof validly tendered and not properly withdrawn
pursuant to such Exchange Offer; and 
 (ii) deliver, or cause to be delivered, to the Trustee for cancellation
all Registrable Notes or portions thereof so accepted for exchange by the Company in such Exchange Offer and issue, and cause the Trustee to promptly authenticate and deliver to each Holder, Exchange Notes equal in principal amount to the principal
amount of the Registrable Notes surrendered by such Holder. 
 The Company and the Guarantor shall use their reasonable best
efforts to complete each Exchange Offer as provided above and shall comply with the applicable requirements of the Securities Act, the Exchange Act and other applicable laws and regulations in connection with each Exchange Offer. 

(b) In the event that (i) the Company and the Guarantor determine that an Exchange Offer Registration provided for in
Section 2(a) hereof is not permitted or may not be completed as soon as practicable after the last Exchange Date because it 

 

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would violate any applicable law or applicable interpretations of the Staff of the SEC, or because the Exchange Notes received by Holders in such Exchange Offer are not, or would not be upon
receipt, transferable by each such Holder without need for further compliance with Section 5 of the Securities Act (except for the requirement to deliver a Prospectus in connection with any resale by a Participating Broker-Dealer),
(ii) such Exchange Offer is not for any other reason completed by September 30, 2010 or (iii) upon completion of such Exchange Offer any of the Initial Purchasers shall so request in connection with any offering or sale of Registrable
Notes of the series covered by such Exchange Offer initially purchased by it pursuant to the Purchase Agreement, the Company and the Guarantor shall use their reasonable best efforts to cause to be filed as soon as practicable after such
determination, date or request, as the case may be, a Shelf Registration Statement providing for the sale of all such Registrable Notes by the Holders thereof and to have such Shelf Registration Statement become effective under the Securities Act;
provided that, if the foregoing requirement to file a Shelf Registration Statement arises on a date more than one year after the date of this Agreement, no such Shelf Registration Statement shall be required to be filed to the extent the
Registrable Securities have been sold pursuant to Rule 144 or have become freely tradable by Persons other than “affiliates” (as defined in Rule 144) of the Company pursuant to Rule 144, in each case, under circumstances in which any
legend borne by the Securities relating to restrictions on transferability thereof is permanently removed, the Securities do not bear a restricted CUSIP number and such Securities are permanently eligible to be sold pursuant to Rule 144. 

If the Company and the Guarantor receive reasonable advance notice that they will be required to file a Shelf Registration Statement
pursuant to clause (iii) of the preceding paragraph, the Company and the Guarantor shall use their reasonable best efforts to file and have become effective under the Securities Act both an Exchange Offer Registration Statement pursuant to
Section 2(a) hereof with respect to all Registrable Notes of such series and a Shelf Registration Statement (which may be a combined Registration Statement with such Exchange Offer Registration Statement) with respect to offers and sales of
Registrable Notes of such series held by the Initial Purchasers after completion of such Exchange Offer. 
 The Company and the
Guarantor agree to use their reasonable best efforts to keep any such Shelf Registration Statement continuously effective for a period of not less than 90 days with respect to the Registrable Notes covered by such Shelf Registration Statement or
such shorter period that will terminate when all such Registrable Notes have been sold (A) pursuant to such Shelf Registration Statement or (B) beginning on the date that is more than one year after the date of this Agreement, pursuant to
Rule 144 or have become freely tradable by Persons other than “affiliates” (as defined in Rule 144) of the Company pursuant to Rule 144, in each case, under circumstances in which any legend borne by the Securities relating to restrictions
on transferability thereof is permanently removed, the Securities do not bear a restricted CUSIP number and such Securities are permanently eligible to be sold pursuant to Rule 144 

 

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(the “Shelf Effectiveness Period”). The Company and the Guarantor further agree to supplement or amend such Shelf Registration Statement, the related Prospectus and any Free
Writing Prospectus if required by the rules, regulations or instructions applicable to the registration form used by the Company and the Guarantor for such Shelf Registration Statement or by the Securities Act or by any other rules and regulations
thereunder for shelf registration or if reasonably requested by a Holder of such Registrable Notes with respect to information relating to such Holder, and to use their reasonable best efforts to cause any such amendment to become effective and such
Shelf Registration Statement, Prospectus or Free Writing Prospectus, as the case may be, to become usable as soon as thereafter practicable. The Company and the Guarantor agree to furnish to the Holders of Registrable Notes of such series copies of
any such supplement or amendment promptly after its being used or filed with the SEC. 
 (c) The Company and the Guarantor shall
pay all Registration Expenses in connection with each registration provided in Sections 2(a) and 2(b) hereof. Each Holder shall pay all underwriting discounts and commissions and transfer taxes, if any, relating to the sale or disposition of such
Holder’s Registrable Notes pursuant to any Shelf Registration Statement. 
 (d) An Exchange Offer Registration Statement
pursuant to Section 2(a) hereof will not be deemed to have become effective unless it has been declared effective by the SEC. A Shelf Registration Statement pursuant to Section 2(b) hereof will not be deemed to have become effective unless
it has been declared effective by the SEC or becomes automatically effective upon filing with the SEC as provided by Rule 462 under the Securities Act. Any obligation to file with the SEC a Shelf Registration Statement pursuant to Section 2(b)
hereof will be deemed to be satisfied if the Company has previously filed a registration statement with the SEC that may be used without limitation or restriction for the purposes contemplated by Section 2(b) hereof. 

(e) In the event that either the Exchange Offer relating to a series of Notes is not completed or the Shelf Registration Statement
relating to such series, if required hereby, has not become effective under the Securities Act on or prior to September 30, 2010 (October 30, 2010 solely in the case of a Shelf Registration Statement required pursuant to Section 2(b)(iii)
hereof), the interest rate on the Registrable Notes of such series will be increased by 0.50% per annum until an Exchange Offer relating to the Notes of such series is completed or a Shelf Registration Statement relating to the Notes of such
series, if required hereby, becomes effective under the Securities Act, at which time the increased interest shall cease to accrue. 

If a Shelf Registration Statement has become effective under the Securities Act and thereafter either ceases to be effective or the
Prospectus contained therein ceases to be usable at any time during the Shelf Effectiveness Period, and such failure to remain effective or usable exists for more than 30 days (whether or not consecutive) in any 12-month period (two suspensions not
to exceed 30 days each in any 365-day period in the case of a suspension described in Section 3 hereof), then the 

 

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interest rate on the Registrable Notes of the series covered by such Shelf Registration Statement will be increased by 0.50% per annum commencing on the
31st day in such 12-month period and ending on such date
that such Shelf Registration Statement has again become effective under the Securities Act or such Prospectus again becomes usable, at which time the increased interest shall cease to accrue; provided, however, that if such Prospectus ceases
to be usable because audited financial statements are required to be filed with the SEC and incorporated by reference in such Shelf Registration Statement to comply with the undertaking of the Company and the Guarantor pursuant to
Item 512(a)(4) of Regulation S-K (or any successor provision), such a suspension shall not be a suspension for purposes of the foregoing provision unless and to the extent its duration exceeds 60 days. 

3. Registration Procedures. In connection with their obligations pursuant to Sections 2(a) and 2(b) hereof, the Company and the
Guarantor shall as expeditiously as possible: 
 (a) prepare and file with the SEC a Registration Statement or Registration
Statements on the appropriate form under the Securities Act, which form shall (i) be selected by the Company, (ii) in the case of a Shelf Registration, be available for the sale of the Registrable Notes by selling Holders thereof and
(iii) comply as to form in all material respects with the requirements of the applicable form and include all financial statements and other information required by the SEC to be filed therewith; and use their reasonable best efforts to cause
each such Registration Statement to become effective and remain effective for the applicable period in accordance with Section 2 hereof; 

(b) prepare and file with the SEC such amendments and post-effective amendments to each Registration Statement as may be necessary to
keep such Registration Statement effective for the applicable period in accordance with Section 2 hereof and cause each Prospectus to be supplemented by any required prospectus supplement and, as so supplemented, to be filed pursuant to Rule
424 under the Securities Act; and keep each Prospectus current during the period described in Section 4(3) of and Rule 174 under the Securities Act that is applicable to transactions by brokers or dealers with respect to Registrable Notes or
Exchange Notes; 
 (c) to the extent any Free Writing Prospectus is used, file with the SEC any Free Writing Prospectus that is
required to be filed by the Company or the Guarantor with the SEC in accordance with the Securities Act and to retain any Free Writing Prospectus not required to be filed; 

(d) in the case of a Shelf Registration, furnish to each Holder of Registrable Notes of the series covered by such Shelf Registration, to
U.S. counsel for the Initial Purchasers, to counsel for such Holders and to each Underwriter of an Underwritten Offering of Registrable Notes of such series, if any, without charge, as many copies of each Prospectus, including each preliminary
Prospectus or Free Writing Prospectus, and any amendment or supplement thereto as they may reasonably 
  

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request, in order to facilitate the sale or other disposition of such Registrable Notes thereunder; and the Company and the Guarantor consent to the use of such Prospectus, preliminary Prospectus
or Free Writing Prospectus and any amendment or supplement thereto in accordance with applicable law by each of the selling Holders of Registrable Notes of such series and any such Underwriters in connection with the offering and sale of the
Registrable Notes covered by and in the manner described in such Prospectus, preliminary Prospectus or Free Writing Prospectus or any amendment or supplement thereto in accordance with applicable law; 

(e) use their reasonable best efforts to register or qualify the Registrable Notes under all applicable state securities or blue sky laws
of such jurisdictions as a majority of the Holders of Registrable Notes of each series covered by a Registration Statement shall reasonably request in writing by the time the applicable Registration Statement has become effective under the
Securities Act; cooperate with the Holders in connection with any filings required to be made with the Financial Industry Regulatory Authority; and do any and all other acts and things that may be reasonably necessary or advisable to enable each
Holder to complete the disposition in each such jurisdiction of the Registrable Notes owned by such Holder; provided that neither the Company nor the Guarantor shall be required to (i) qualify as a foreign corporation or other entity or
as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (ii) file any general consent to service of process in any such jurisdiction, (iii) subject itself to taxation in any such
jurisdiction if it is not otherwise so subject or (iv) make any changes to its estatutos sociales or to any agreement between it and its shareholders; 

(f) in the case of a Shelf Registration, notify each Holder of Registrable Notes of the series covered by such Shelf Registration,
counsel for such Holders and counsel for the Initial Purchasers promptly and, if requested by any such Holder or counsel, confirm such advice in writing (i) when a Registration Statement relating to such series of Notes has become effective and
when any post-effective amendment thereto has been filed and becomes effective, when any Free Writing Prospectus has been filed or any amendment or supplement to the related Prospectus or any Free Writing Prospectus has been filed, (ii) of any
request by the SEC or any state securities authority for amendments and supplements to a Registration Statement, Prospectus or any Free Writing Prospectus relating to such series of Notes or for additional information after such Registration
Statement has become effective, (iii) of the issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of a Registration Statement relating to such series of Notes or the initiation of any proceedings
for that purpose, including the receipt by the Company of any notice of objection of the SEC to the use of a Shelf Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act, (iv) of the
happening of any event during the period a Shelf Registration Statement relating to such series of Notes is effective that makes any statement made in such Registration Statement or the related Prospectus or any Free Writing Prospectus untrue

  

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in any material respect or that requires the making of any changes in such Registration Statement or Prospectus or any Free Writing Prospectus in order to make the statements therein not
misleading and (v) of any determination by the Company or the Guarantor that a post-effective amendment to a Registration Statement relating to such series of Notes or any amendment or supplement to the related Prospectus or any Free Writing
Prospectus would be appropriate; 
 (g) use their reasonable best efforts to obtain the withdrawal of any order suspending the
effectiveness of a Registration Statement or, in the case of a Shelf Registration, the resolution of any objection of the SEC pursuant to Rule 401(g)(2), including by filing an amendment to such Shelf Registration Statement on the proper form, at
the earliest possible moment and provide immediate notice to each Holder of Notes of the series covered by such Registration Statement of the withdrawal of any such order; 

(h) use all reasonable efforts to obtain the consent or approval of each Mexican or U.S. governmental agency or authority, whether
federal or state that may be required to effect each Exchange Offer and the offering and sale of Exchange Notes; 
 (i) in the
case of a Shelf Registration, furnish to each Holder of Registrable Notes covered by such Shelf Registration, without charge, at least one conformed copy of each Registration Statement relating to such series of Notes and any post-effective
amendment thereto (without any documents incorporated therein by reference or exhibits thereto, unless requested); 
 (j) in the
case of a Shelf Registration, cooperate with the selling Holders of Registrable Notes covered by such Shelf Registration to facilitate the timely preparation and delivery of certificates representing Registrable Notes of such series to be sold and
not bearing any restrictive legends and enable such Registrable Notes to be issued in such denominations and registered in such names (consistent with the provisions of the Indenture) as the selling Holders may reasonably request at least one
Business Day prior to the closing of any sale of any such Registrable Notes; 
 (k) in the case of a Shelf Registration, upon
the occurrence of any event contemplated by Section 3(f)(v) hereof, use their reasonable best efforts to prepare and file with the SEC a supplement or post-effective amendment to a Registration Statement or the related Prospectus or any Free
Writing Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered (or, to the extent permitted by law, made available) to purchasers of the Registrable Notes of the series
covered by such Shelf Registration, such Prospectus or Free Writing Prospectus, as the case may be, will not contain any 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; and the Company and the Guarantor shall notify the Holders of such Registrable Notes to suspend use of the Prospectus or any

  

 13 

 
Free Writing Prospectus as promptly as practicable after the occurrence of such an event, and such Holders hereby agree to suspend use of the Prospectus or any Free Writing Prospectus, as the
case may be, until the Company and the Guarantor have amended or supplemented the Prospectus or the Free Writing Prospectus, as the case may be, to correct such misstatement or omission; 

(l) if reasonably requested by the Initial Purchasers or Holders and their respective counsel, a reasonable time prior to the filing of
any Registration Statement, any Prospectus, any Free Writing Prospectus, any amendment to a Registration Statement or amendment or supplement to a Prospectus or a Free Writing Prospectus or of any document that is to be incorporated by reference
into a Registration Statement, a Prospectus or a Free Writing Prospectus after initial filing of a Registration Statement (and prior to the completion of an Exchange Offer in the case of an Exchange Offer Registration Statement), provide copies of
such document to the Initial Purchasers and U.S. counsel for the Initial Purchasers (and, in the case of a Shelf Registration Statement, to the Holders of Registrable Notes and their counsel) and make such of the representatives of the Company and
the Guarantor as shall be reasonably requested by the Initial Purchasers or such counsel (and, in the case of a Shelf Registration Statement, the Holders of Registrable Notes or their counsel) available for discussion of such document; and, in such
event, the Company and the Guarantor shall not, at any time after initial filing of a Registration Statement, use or file any Prospectus, any Free Writing Prospectus, any amendment of or supplement to a Registration Statement or a Prospectus or a
Free Writing Prospectus, or any document that is to be incorporated by reference into a Registration Statement, a Prospectus or a Free Writing Prospectus, of which the Initial Purchasers and such counsel (and, in the case of a Shelf Registration
Statement, the Holders of Registrable Notes and their counsel) shall not have previously been advised and furnished a copy or to which the Initial Purchasers or such counsel (and, in the case of a Shelf Registration Statement, the Holders or their
counsel) shall reasonably and timely object; 
 (m) obtain CUSIP and ISIN numbers for all Exchange Notes or Registrable Notes,
as the case may be, not later than the effective date of a Registration Statement, and provide the Trustee with printed or word-processed certificates for the Exchange Notes or Registrable Notes, as the case may be, in a form eligible for deposit
with the Depositary; 
 (n) take all reasonable action necessary to ensure that the Exchange Notes of the relevant series, at
the time of the consummation of each Exchange Offer (or as soon as reasonably practicable thereafter), are admitted to listing on the Luxembourg Stock Exchange and trading on the Euro MTF or the New York Stock Exchange; 

(o) cause the Indenture to be qualified under the Trust Indenture Act in connection with the registration of the Exchange Notes or
Registrable Notes, as the case may be; cooperate with the Trustee and the Holders to effect such changes to the 
  

 14 

 
Indenture as may be required for the Indenture to be so qualified in accordance with the terms of the Trust Indenture Act; and execute, and use their reasonable best efforts to cause the 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 the Indenture to be so qualified in a timely manner; 

(p) in the case of a Shelf Registration, make available for inspection by a representative of Holders of Registrable Notes of the series
covered by such Shelf Registration that confirm to the Company and the Guarantor that it is their current intention to sell Registrable Notes pursuant to a Shelf Registration (an “Inspector”), any Underwriter participating in any
disposition pursuant to such Shelf Registration Statement, and counsel and accountants designated by such Holders, at reasonable times and in a reasonable manner, all pertinent financial and other records, documents and properties of the Company and
the Guarantor as may be reasonably requested by any such Inspector, Underwriter, counsel or accountant in connection with a Shelf Registration Statement, and cause the respective officers, directors and employees of the Company and the Guarantor to
supply such information; provided that if any such information is identified in writing by the Company and the Guarantor as being confidential or proprietary, each Person receiving such information shall use such Person’s reasonable best
efforts to protect the confidentiality of such information to the extent such action is otherwise not inconsistent with, an impairment of or in derogation of the substantial and necessary rights and interests of any Inspector, Holder or Underwriter;
and 
 (q) if reasonably requested by any Holder of Registrable Notes covered by a Registration Statement, promptly incorporate
in a Prospectus supplement or post-effective amendment such information with respect to such Holder as such Holder reasonably requests to be included therein and make all required filings of such Prospectus supplement or such post-effective
amendment as soon as the Company has received notification of the matters to be incorporated in such filing. 
 In the case of a
Shelf Registration Statement, the Company and the Guarantor may require each Holder of Registrable Notes of the series of Registrable Notes covered by the Shelf Registration to furnish to the Company or the Guarantor, as the case may be, such
information regarding such Holder and the proposed disposition by such Holder of such Registrable Notes as the Company or the Guarantor may from time to time reasonably request in writing. 

In the case of any Registration Statement, each Holder of Registrable Notes covered thereby agrees that, upon receipt of any notice from
the Company or the Guarantor to the effect of the happening of any event of the kind described in Section 3(f)(iii) or 3(f)(iv) hereof or that the Prospectus included in any Registration Statement cannot be used for any other reason, such
Holder will forthwith discontinue disposition of its Registrable Notes pursuant to such Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus and any Free Writing

  

 15 

 
Prospectus contemplated by Section 3(k) hereof and, if so directed by the Company and the Guarantor, such Holder will deliver to the Company and the Guarantor all copies in its possession,
other than permanent file copies then in such Holder’s possession, of the Prospectus and any Free Writing Prospectus covering such Registrable Notes that is current at the time of receipt of such notice. The Company and the Guarantor may give
any such notice only twice during any 365-day period and any such suspensions shall not exceed 30 days for each suspension and there shall not be more than two suspensions in effect during any 365-day period; provided, however, that if
the Prospectus ceases to be usable because audited financial statements are required to be filed with the SEC and incorporated by reference in the Shelf Registration Statement to comply with the undertaking of the Company and the Guarantor pursuant
to Item 512(a)(4) of Regulation S-K (or any successor provision), such a suspension shall not be a suspension for purposes of the foregoing provision unless and to the extent its duration exceeds 60 days. 

If the Company and the Guarantor shall give any such notice to suspend the disposition of Registrable Notes pursuant to any Registration
Statement, the Company and the Guarantor shall extend the period during which such Registration Statement shall be maintained effective pursuant to this Agreement by the number of days during the period from and including the date of the giving of
such notice to and including the date when the Holders shall have received copies of the supplemented or amended Prospectus or any Free Writing Prospectus necessary to resume such dispositions. 

The Holders of Registrable Notes covered by a Shelf Registration Statement who desire to do so may sell such Registrable Notes in an
Underwritten Offering. In any such Underwritten Offering, the investment banker or investment bankers and manager or managers (the “Underwriters”) that will administer the offering will be selected by the Majority Holders of the
Registrable Notes of the series included in such offering. 
 4. Participation of Broker-Dealers in Exchange Offer.
(a) The Staff of the SEC has taken the position that any broker-dealer that receives Exchange Notes for its own account in an Exchange Offer in exchange for Notes that were acquired by such broker-dealer as a result of market-making or other
trading activities (a “Participating Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of the Securities Act and must deliver a prospectus meeting the requirements of the Securities Act in connection
with any resale of such Exchange Notes. 
 The Company and the Guarantor understand that it is the Staff’s position that if
the Prospectus contained in an Exchange Offer Registration Statement includes a plan of distribution containing a statement to the above effect and the means by which Participating Broker-Dealers may resell such Exchange Notes, without naming the
Participating Broker-Dealers or specifying the amount of Exchange Notes owned by them, such Prospectus may be delivered by Participating Broker-Dealers to satisfy their 

 

 16 

 
prospectus delivery obligation under the Securities Act in connection with resales of Exchange Notes for their own accounts, so long as such Prospectus otherwise meets the requirements of the
Securities Act. 
 (b) In light of the above, and notwithstanding the other provisions of this Agreement, the Company and the
Guarantor agree to amend or supplement the Prospectus contained in each Exchange Offer Registration Statement, as would otherwise be contemplated by Section 3(k) hereof, for a period of up to 120 days after the last Exchange Date (as such
period may be extended pursuant to the penultimate paragraph of Section 3 hereof), if requested by the Initial Purchasers or by one or more Participating Broker-Dealers, in order to expedite or facilitate the disposition of any Exchange Notes
by Participating Broker-Dealers consistent with the positions of the Staff recited in Section 4(a) hereof. The Company and the Guarantor further agree that Participating Broker-Dealers shall be authorized to deliver such Prospectus during such
period in connection with the resales contemplated by this Section 4. 
 (c) The Initial Purchasers shall have no liability
to the Company, the Guarantor or any Holder with respect to any request that they may make pursuant to Section 4(b) hereof. 

5. Indemnification and Contribution. (a) The Company and the Guarantor, jointly and severally, agree to indemnify and hold
harmless each Initial Purchaser and each Holder, their respective affiliates, directors and officers and each Person, if any, who controls any Initial Purchaser or any Holder within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted,
as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, (1) any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or any omission or alleged omission
to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading, or (2) any untrue statement or alleged untrue statement of a material fact contained in any Prospectus, any Free
Writing Prospectus or any “issuer information” (“Issuer Information”) filed or required to be filed pursuant to Rule 433(d) under the Securities Act, or any omission or alleged omission to state therein a material fact
necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue
statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information furnished to the Company or the Guarantor in writing or to any selling Holder by or on behalf of such Person expressly for use
therein. 
 (b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company, the Guarantor, the
Initial Purchasers and the other selling 
  

 17 

 
Holders, their respective affiliates, the directors of the Company and the Guarantor, each officer of the Company and the Guarantor who signed the Registration Statement and each Person, if any,
who controls the Company, the Guarantor, any Initial Purchaser and any other selling Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in
Section 5(a) hereof, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with
any information relating to such Holder furnished to the Company or the Guarantor in writing by such Holder expressly for use in any Registration Statement, any Prospectus and any Free Writing Prospectus and, subject to the limitation set forth
immediately preceding this clause, shall reimburse such Persons for any legal or other expenses reasonably incurred by them in connection with investigating or defending any loss, claim, damage, liability or action in respect thereof. 

(c) If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or
asserted against any Person in respect of which indemnification may be sought pursuant to either Section 5(a) or Section 5(b) hereof, such Person (the “Indemnified Person”) shall promptly notify the Person against whom
such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under this Section 5 except
to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall not relieve it from any
liability that it may have to an Indemnified Person otherwise than under this Section 5. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the Indemnifying Person thereof, the
Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 5 that the Indemnifying Person may designate in
such proceeding and shall pay the fees and expenses of such counsel related to such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel
shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel
reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying
Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to
actual or potential differing interests between them. It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable for the fees and

  

 18 

 
expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such
separate firm (x) for the Initial Purchasers, their respective affiliates, directors and officers and any control Persons of each of the Initial Purchasers shall be jointly designated in writing by the Initial Purchasers, (y) for any
Holder, its affiliates, directors and officers and any control Persons of such Holder shall be designated in writing by the Majority Holders and (z) in all other cases shall be designated in writing by the Company. The Indemnifying Person shall
not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and
against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested that an Indemnifying Person reimburse the Indemnified Person for fees and
expenses of counsel as contemplated by this Section 5(c), the Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after
receipt by the Indemnifying Person of such request and (ii) the Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement. No Indemnifying Person shall, without the
written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnification could have been sought hereunder by such
Indemnified Person, unless such settlement (A) includes an unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of
such proceeding and (B) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person. 

(d) If the indemnification provided for in Sections 5(a) and 5(b) hereof is unavailable to an Indemnified Person or insufficient in
respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such Sections, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such
Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantor from the offering of the Notes and the Exchange
Notes, on the one hand, and by the Holders from receiving Notes or Exchange Notes registered under the Securities Act, on the other hand, or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the relative fault of the Company and the Guarantor on the one hand and the Holders on the other in connection with the statements or
omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Guarantor on the one hand and the Holders on the other shall be determined by
reference to, among other things, 
  

 19 

 
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 Company and the Guarantor or
by the Holders and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

(e) The Company, the Guarantor and the Holders agree that it would not be just and equitable if contribution pursuant to this
Section 5 were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in
Section 5(d) hereof. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in Section 5(d) hereof shall be deemed to include, subject to the limitations set forth above,
any legal or other expenses incurred by such Indemnified Person in connection with any such action or claim. Notwithstanding the provisions of this Section 5, in no event shall a Holder be required to contribute any amount in excess of the
amount by which the total price at which the Notes or Exchange Notes sold by such Holder exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or
alleged omission. 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.

 (f) The remedies provided for in this Section 5 are not exclusive and shall not limit any rights or remedies that may
otherwise be available to any Indemnified Person at law or in equity. 
 (g) The indemnity and contribution provisions contained
in this Section 5 shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of the Initial Purchasers or any Holder, their respective
affiliates or any Person controlling each of the Initial Purchasers or any Holder, or by or on behalf of the Company or the Guarantor, their respective affiliates or the officers or directors of or any Person controlling the Company or the
Guarantor, (iii) acceptance of any of the Exchange Notes and (iv) any sale of Registrable Notes pursuant to a Shelf Registration Statement. 

6. General. 

(a) Rule 144 and Rule 144A. If the Company ceases to be subject to the reporting requirements of Section 13 or 15 of the
Exchange Act, the Company covenants that it will upon the request of any Holder or beneficial owner of Registrable Notes (i) make publicly available such information (including, without limitation, the information specified in Rule 144(c)(2))
as is necessary to permit sales pursuant to Rule 144, (ii) deliver or cause to be delivered, promptly following a request by any Holder or beneficial owner of Registrable Notes or any prospective purchaser or transferee designated by such
Holder or beneficial owner, such information (including, without 
  

 20 

 
limitation, the information specified in Rule 144A(d)(4)) as is necessary to permit sales pursuant to Rule 144A, and (iii) take such further action that is reasonable in the
circumstances, in each case to the extent required from time to time to enable such Holder to sell its Registrable Notes without registration under the Securities Act within the limitation of the exemptions provided by (A) to the extent
applicable, Rule 144, (B) Rule 144A, or (C) any similar rules or regulations hereafter adopted by the SEC. 
 (b)
Specific Performance. The Company and the Guarantor acknowledge that there would be no adequate remedy at law if the Company and the Guarantor failed to perform any of their obligations in this Agreement (including, without limitation, their
obligations under Sections 2(a) and 2(b) hereof) and that any such failure may result in material irreparable injuries to the Initial Purchasers and the Holders from time to time of the Registrable Notes and that it will not be possible to measure
damages for such injuries precisely, and, accordingly the Company and the Guarantor agree that the Initial Purchasers and such Holders, in addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to compel
specific performance of the obligations of the Company and the Guarantor under this Agreement in accordance with the terms and conditions of this Agreement, in any U.S. federal or New York state court located in the Borough of Manhattan, The City of
New York. 
 (c) No Inconsistent Agreements. The Company and the Guarantor represent, warrant and agree that (i) 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 any other outstanding securities issued or guaranteed by the Company and the Guarantor under any other
agreement and (ii) neither the Company nor the Guarantor has not entered into, or on or after the date of this Agreement will enter into, any agreement that is inconsistent with the rights granted to the Holders of Registrable Notes in this
Agreement or otherwise conflicts with the provisions hereof. 
 (d) Amendments and Waivers. The provisions of this
Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given unless the Company and the Guarantor have obtained the written
consent of Holders of at least a majority in aggregate principal amount of the outstanding Registrable Notes affected by such amendment, modification, supplement, waiver or consent; provided that no amendment, modification, supplement, waiver
or consent to any departure from the provisions of Section 5 hereof shall be effective as against any Holder of Registrable Notes unless consented to in writing by such Holder. Any amendments, modifications, supplements, waivers or consents
pursuant to this Section 6(d) shall be by a writing executed by each of the parties hereto. 
 (e) Notices. All
notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, telex, telecopier, or any courier guaranteeing overnight delivery (i) if to a Holder, at

  

 21 

 
the most current address given by such Holder to the Company by means of a notice given in accordance with the provisions of this Section 6(e), which address initially is, with respect to
the Initial Purchasers, the address set forth in the Purchase Agreement; (ii) if to the Company and the Guarantor, initially at the Company’s address set forth in the Purchase Agreement and thereafter at such other address, notice of which
is given in accordance with the provisions of this Section 6(e); and (iii) to such other persons at their respective addresses as provided in the Purchase Agreement and thereafter at such other address, notice of which is given in
accordance with the provisions of this Section 6(e). All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail,
postage prepaid, if mailed; when answered back, if telexed; when receipt is acknowledged, if telecopied; and on the next Business Day if timely delivered to an air courier guaranteeing overnight delivery. 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 specified in the Indenture. 

(f) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors, assigns and
transferees of each of the parties, including, without limitation and without the need for an express assignment, subsequent Holders; provided 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. If any transferee of any Holder shall acquire Registrable Notes in any manner, whether by operation of law or otherwise, such Registrable Notes shall be held
subject to all the terms of this Agreement, and by taking and holding such Registrable Notes such Person shall be conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of this Agreement and such Person
shall be entitled to receive the benefits hereof. The Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the Company and the Guarantor with respect to any failure by a Holder to comply with, or any
breach by any Holder of, any of the obligations of such Holder under this Agreement. 
 (g) Third-Party Beneficiaries.
Each Holder shall be a third-party beneficiary to the agreements made hereunder between the Company and the Guarantor, on the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce such agreements directly to
the extent it deems such enforcement necessary or advisable to protect its rights or the rights of other Holders hereunder. 

(h) Purchases and Sales of Notes. The Company and the Guarantor shall not, and shall use their reasonable best efforts to cause
their affiliates (as defined in Rule 405 under the Securities Act) not to, purchase and then resell or otherwise transfer any Registrable Notes. 
  

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 (i) 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. 

(j) Jurisdiction, Venue and Service of Process. Each of the parties hereto hereby submits to the jurisdiction
of any U.S. federal or New York state court in the Borough of Manhattan, The City of New York and to the courts of its own corporate domicile, in respect of actions brought against any such party as a defendant, in any legal suit, action or
proceeding based on or arising under this Agreement and agrees that all claims in respect of such suit or proceeding may be determined in any such court. Each of the Company and the Guarantor waives, to the extent permitted by law, the defense of an
inconvenient forum or objections to personal jurisdiction with respect to the maintenance of such legal suit, action or proceeding. Each of the Company and the Guarantor hereby designates and appoints CT Corporation System, 111 Eighth Avenue, 13
th Floor, New York, New York 10011 (the “Process
Agent”), as its authorized agent, upon whom process may be served in any such legal suit, action or proceeding based on or arising under this Agreement, it being understood that the designation and appointment of CT Corporation System as
such authorized agent shall become effective immediately without any further action on the part of the Company or the Guarantor. Such appointment shall be irrevocable to the extent permitted by applicable law and subject to the appointment of a
successor agent in the United States on terms substantially similar to those contained in this Section 6(j). If the Process Agent shall cease to act as agent for service of process, the Company and the Guarantor shall each appoint, without
unreasonable delay, another such agent, and notify the holders of such appointment. Each of the Company and the Guarantor represents to the holders that it has notified the Process Agent of such designation and appointment and that the Process Agent
has accepted the same in writing. Each of the Company and the Guarantor hereby authorizes and directs the Process Agent to accept such service. Each of the Company and the Guarantor further agrees that service of process upon the Process Agent and
written notice of said service to such party shall be deemed in every respect effective service of process upon the Company, in any such legal suit, action or proceeding. Nothing herein shall affect the right of any holder or any person controlling
any holder to serve process in any other manner permitted by law. 
 (k) Additional Amounts. If any amounts to be
received by the Initial Purchasers or the Holders under this Agreement are subject to any present or future taxes, assessments, deductions, withholdings, governmental charges or charges of any nature imposed or levied by or on behalf of Mexico or
any political subdivision thereof or taxing authority therein (“Mexican Taxes”), then the Company and the Guarantor shall, jointly and severally, pay to the Initial Purchasers and the Holders, an additional amount so that the
Initial Purchasers and the Holders, shall receive and retain, after taking into consideration all such Mexican Taxes, an amount equal to the amounts owed to them under this Agreement as if such amounts had not been subject to Mexican Taxes. If

  

 23 

 
any Mexican Taxes are collected by deduction or withholding, the Company and the Guarantor shall, upon request provide to the Initial Purchasers and the Holders, copies of documentation
evidencing the transmittal to the proper authorities of the amount of Mexican Taxes deducted or withheld. Notwithstanding the preceding sentences of this Section 6(k), any withholding or deduction of Mexican Taxes in respect of payments under
the Notes (as opposed to amounts to be received by the Initial Purchasers or the Holders under this Agreement) shall be subject to the gross-up provisions of the Notes and the Indenture. 

(l) Judgment Currency. The Company and the Guarantor, jointly and severally, shall indemnify the Initial Purchasers and the
Holders against any loss incurred by them as a result of any judgment or order against the Company or the Guarantor being given or made and expressed and paid in a currency (“Judgment Currency”) other than U.S. dollars and as a
result of any variation as between (i) the rate of exchange at which the U.S. dollar amount is converted into the Judgment Currency for the purpose of such judgment or order and (ii) the spot rate of exchange in New York, New York at which
the Initial Purchasers on the date of payment of such judgment or order are able to purchase U.S. dollars with the amount of the Judgment Currency actually received by the Initial Purchasers. The foregoing indemnity shall constitute a separate and
independent obligation of the Company and the Guarantor and shall continue in full force and effect notwithstanding any such judgment or order as aforesaid. The term “spot rate of exchange” shall include any premiums and costs of exchange
payable in connection with the purchase of, or conversion into, U.S. dollars. 
 (m) Headings. The headings in this
Agreement are for convenience of reference only, are not a part of this Agreement and shall not limit or otherwise affect the meaning hereof. 

(n) Severability. The remedies provided herein are cumulative and not exclusive of any remedies provided by law. 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 reasonable 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. 
 (o) Governing Law. This Agreement shall
be governed by, and construed in accordance with, the laws of the State of New York. 
 (p) Miscellaneous. This Agreement
contains the entire agreement between the parties relating to the subject matter hereof and supersedes all oral 
  

 24 

 
statements and prior writings with respect thereto. If any term, provision, covenant or restriction contained in this Agreement is held by a court of competent jurisdiction to be invalid, void or
unenforceable or against public policy, the remainder of the terms, provisions, covenants and restrictions contained herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated. The Company, the Guarantor
and the Initial Purchasers shall endeavor in good faith negotiations to replace the invalid, void or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, void or unenforceable
provisions. 
 [Signature page follows] 

 

 25 

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

			
	Very truly yours,
	
	AMÉRICA MÓVIL, S.A.B. de C.V.
		
	By:	 	/s/ Carlos José Garcia Moreno Elizondo
	Name:	 	Carlos José Garcia Moreno Elizondo
	Title:	 	Attorney-in-Fact
		
	By:	 	/s/ Alejandro Canté Jiménez
	Name:	 	Alejandro Canté Jiménez
	Title:	 	Attorney-in-Fact
	
	RADIOMÓVIL DIPSA, S.A. de C.V.
		
	By:	 	/s/ Carlos José Garcia Moreno Elizondo
	Name:	 	Carlos José Garcia Moreno Elizondo
	Title:	 	Attorney-in-Fact
		
	By:	 	/s/ Alejandro Canté Jiménez
	Name:	 	Alejandro Canté Jiménez
	Title:	 	Attorney-in-Fact

  

			
	CITIGROUP GLOBAL MARKETS INC.
		
	By	 	/s/ D. Blake Haider
	Name:	 	D. Blake Haider
	Title:	 	Director
	
	GOLDMAN, SACHS & CO.
		
	By	 	/s/ Goldman, Sachs & Co.
		 	(Goldman, Sachs & Co.)
	
	J.P. MORGAN SECURITIES INC.
		
	By	 	/s/ Carlos Ruiz de Gamboa
	Name:	 	Carlos Ruiz de Gamboa
	Title:	 	Managing Director

 For themselves and as Representatives
of the other Initial Purchasers. 
  

 26f8k071410ex10vii_mbeach.htm

Exhibit 10.7

 

MBEACH SOFTWARE, INC.

STOCK OPTION AGREEMENT

This Stock Option Agreement (this “Agreement”) is entered into as of July 13, 2010 by and between mBeach Software, a Florida corporation (the “Corporation”), and Lior Ben Hur (the “Optionee”).

WHEREAS, the Corporation desires to afford the Optionee an opportunity to purchase shares of the Corporation’s common stock on the terms and provisions set forth herein,

NOW, THEREFORE, in consideration of the premises and mutual covenants set forth below, the parties agree as follows:

1.           Grant of Option.  The Corporation hereby grants to Optionee the right (the “Option”) to purchase up to 8,251,516 shares of common stock of the Corporation at an exercise price per share equal to 25% less than volume weighted average closing price of a share of common stock of the Corporation for the five trading days prior to the exercise hereof.

 

 

2.           Vesting Schedule and Expiration. This Option shall be exercisable on the date hereof and expire on March 31, 2012.  During the exercise period, the Option may be exercised by the Optionee, in whole or in part, from time to time.  The Corporation agrees to maintain during such exercise period a sufficient number of shares (which may be authorized and unissued shares or issued shares that have been reacquired by the Corporation) corresponding to the number of unexercised Options granted to the Optionee.

3.           Restrictions on Transferability of Options.  This Option may not be transferred by the Optionee other than by will or the laws of descent and distribution and may be exercised during the Optionee’s lifetime only by the Optionee or the Optionee’s guardian or legal representative.  A transfer of an Option by will or the laws of descent and distribution shall not be effective unless the Board of Directors of the Corporation shall have been furnished with such evidence as it may deem necessary to establish the validity and effectiveness of the transfer.

4.          Exercise, Payment for and Delivery of Stock. This Option may be exercised by the Optionee or other person then entitled to exercise it by delivery of a written notice to the Secretary of the Corporation together with this Option Agreement specifying the number of Options intended to be exercised and the exercise price and accompanied by payment in full of the exercise price for the number of shares with respect to which the Option is exercised. Payment for shares may be made in cash.  An Optionee may purchase less than the total numbers of shares for which Options are then exercisable, provided, however, that any partial exercise shall not be for less than 100 Shares and shall not include any fractional shares.

               5.          Adjustments. In the event that there is any change in the shares of the Corporation arising through merger, consolidation, reorganization, recapitalization, stock dividend, stock split or combination thereof, the Board of Directors shall make such adjustments in the aggregate number of Options subject to this Agreement and/or the price per share of such Options in order to prevent dilution or enlargement of the Optionee’s rights and of the value represented by the Options.  Upon any adjustment in the number or exercise price of Shares subject to an Option, a new Option may be granted in place of such Option which has been so adjusted.  In the event of a dissolution or liquidation of the Corporation or a merger, consolidation, sale of all or substantially all of the Corporation’s assets, or other corporate reorganization in which the Corporation is not the surviving corporation, or any merger in which the Corporation is the surviving corporation but the holders of Shares receive securities of another corporation, outstanding Options shall terminate, provided that the holder of each Option shall, in such event, if no provision has been made for the substitution of a new option for such outstanding option, have the right immediately prior to such event to exercise the holder’s Options in whole or in part without regard to the date on which the Options otherwise would be first exercisable.

 

 

  

1

  

6.           Compliance with Laws and Regulations.  By accepting this Option, the Optionee represents and agrees for himself and his  transferees by will or the laws of descent and distribution that, unless a registration statement under Securities Act of 1933 is in effect as to shares purchased upon any exercise of this  Option, (a) any and all shares so purchased shall be acquired for his personal account and not with a view to or for sale in connection with distribution, and (b) each notice of exercise of all or any portion of this Option shall, if the Board of Directors so requests, be accompanied by a representation and warranty in writing, signed by the person entitled to exercise the same, that the shares are being so acquired in good faith for his or her personal account and not with a view to or for sale in connection with any distribution.

No certificates for shares purchased upon exercise of this Option shall be issued and delivered unless and until, in the opinion of legal counsel for the Corporation, such securities may be issued and delivered without causing the Corporation to be in violation of or incur any liability under any federal, state or other securities law or any other requirement of law or of any regulatory body having jurisdiction over the Corporation.  Without limiting the generality of the foregoing, the Optionee acknowledges and understands that the shares subject to the Options granted hereunder have not been registered under the Securities Act of 1933, as amended, or under the blue sky or securities laws of any state, that the Corporation has no obligation to so register any of such shares and that, except to the extent the shares are so registered, the shares will be restricted securities and may be sold, transferred or otherwise disposed of only if an exemption from such registration is available.  Unless the shares have been so registered, there shall be noted conspicuously upon each stock certificate representing such shares, the following statement:

The shares of stock represented by this certificate have not been registered under the Securities Act of 1933 (1933 Act) nor under any applicable state securities act and may not be offered or sold except pursuant to (i) an effective registration statement relating to such stock under the 1933 Act and any applicable state securities act, (ii) to the extent applicable, Rule 144 under the 1933 Act (or any similar rule under such act or acts relating to the disposition of securities), or (iii) an opinion of counsel satisfactory to the Corporation that an exemption from registration under Act or Acts is available.

7.    Successors and Assigns.  The rights and obligations of the Corporation under this Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of the Corporation.

8.  Headings; Counterparts; Governing Law.  The headings in this Agreement are for convenience of reference only and are not intended to define or limit the contents of any section or paragraph.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Agreement shall in all respects be governed by the laws (without reference to conflicts of laws principles) of the State of Florida applicable to contracts made and performed within the State of Florida.. The Optionee acknowledges that no assurances or representations are made by the Corporation as to the present or future market value of the shares or as to the business, affairs, financial condition or prospects of the Corporation.

mBeach Software, Inc.

By: /s/ Yossi Biderman

Name: Yossi Biderman

Title:   President

Optionee

Name:/s/ Lior Ben Hur

  

2

  

 

MBEACH SOFTWARE, INC.

STOCK OPTION AGREEMENT

This Stock Option Agreement (this “Agreement”) is entered into as of July 13, 2010 by and between mBeach Software, a Florida corporation (the “Corporation”), and Borris Krasney (the “Optionee”).

WHEREAS, the Corporation desires to afford the Optionee an opportunity to purchase shares of the Corporation’s common stock on the terms and provisions set forth herein,

NOW, THEREFORE, in consideration of the premises and mutual covenants set forth below, the parties agree as follows:

1.           Grant of Option.  The Corporation hereby grants to Optionee the right (the “Option”) to purchase up to 8,251,516 shares of common stock of the Corporation at an exercise price per share equal to 25% less than volume weighted average closing price of a share of common stock of the Corporation for the five trading days prior to the exercise hereof.

 

 

2.           Vesting Schedule and Expiration. This Option shall be exercisable on the date hereof and expire on March 31, 2012.  During the exercise period, the Option may be exercised by the Optionee, in whole or in part, from time to time.  The Corporation agrees to maintain during such exercise period a sufficient number of shares (which may be authorized and unissued shares or issued shares that have been reacquired by the Corporation) corresponding to the number of unexercised Options granted to the Optionee.

3.           Restrictions on Transferability of Options.  This Option may not be transferred by the Optionee other than by will or the laws of descent and distribution and may be exercised during the Optionee’s lifetime only by the Optionee or the Optionee’s guardian or legal representative.  A transfer of an Option by will or the laws of descent and distribution shall not be effective unless the Board of Directors of the Corporation shall have been furnished with such evidence as it may deem necessary to establish the validity and effectiveness of the transfer.

4.          Exercise, Payment for and Delivery of Stock. This Option may be exercised by the Optionee or other person then entitled to exercise it by delivery of a written notice to the Secretary of the Corporation together with this Option Agreement specifying the number of Options intended to be exercised and the exercise price and accompanied by payment in full of the exercise price for the number of shares with respect to which the Option is exercised. Payment for shares may be made in cash.  An Optionee may purchase less than the total numbers of shares for which Options are then exercisable, provided, however, that any partial exercise shall not be for less than 100 Shares and shall not include any fractional shares.

               5.           Adjustments. In the event that there is any change in the shares of the Corporation arising through merger, consolidation, reorganization, recapitalization, stock dividend, stock split or combination thereof, the Board of Directors shall make such adjustments in the aggregate number of Options subject to this Agreement and/or the price per share of such Options in order to prevent dilution or enlargement of the Optionee’s rights and of the value represented by the Options.  Upon any adjustment in the number or exercise price of Shares subject to an Option, a new Option may be granted in place of such Option which has been so adjusted.  In the event of a dissolution or liquidation of the Corporation or a merger, consolidation, sale of all or substantially all of the Corporation’s assets, or other corporate reorganization in which the Corporation is not the surviving corporation, or any merger in which the Corporation is the surviving corporation but the holders of Shares receive securities of another corporation, outstanding Options shall terminate, provided that the holder of each Option shall, in such event, if no provision has been made for the substitution of a new option for such outstanding option, have the right immediately prior to such event to exercise the holder’s Options in whole or in part without regard to the date on which the Options otherwise would be first exercisable.

 

 

  

3

  

6.           Compliance with Laws and Regulations.  By accepting this Option, the Optionee represents and agrees for himself and his  transferees by will or the laws of descent and distribution that, unless a registration statement under Securities Act of 1933 is in effect as to shares purchased upon any exercise of this  Option, (a) any and all shares so purchased shall be acquired for his personal account and not with a view to or for sale in connection with distribution, and (b) each notice of exercise of all or any portion of this Option shall, if the Board of Directors so requests, be accompanied by a representation and warranty in writing, signed by the person entitled to exercise the same, that the shares are being so acquired in good faith for his or her personal account and not with a view to or for sale in connection with any distribution.

No certificates for shares purchased upon exercise of this Option shall be issued and delivered unless and until, in the opinion of legal counsel for the Corporation, such securities may be issued and delivered without causing the Corporation to be in violation of or incur any liability under any federal, state or other securities law or any other requirement of law or of any regulatory body having jurisdiction over the Corporation.  Without limiting the generality of the foregoing, the Optionee acknowledges and understands that the shares subject to the Options granted hereunder have not been registered under the Securities Act of 1933, as amended, or under the blue sky or securities laws of any state, that the Corporation has no obligation to so register any of such shares and that, except to the extent the shares are so registered, the shares will be restricted securities and may be sold, transferred or otherwise disposed of only if an exemption from such registration is available.  Unless the shares have been so registered, there shall be noted conspicuously upon each stock certificate representing such shares, the following statement:

The shares of stock represented by this certificate have not been registered under the Securities Act of 1933 (1933 Act) nor under any applicable state securities act and may not be offered or sold except pursuant to (i) an effective registration statement relating to such stock under the 1933 Act and any applicable state securities act, (ii) to the extent applicable, Rule 144 under the 1933 Act (or any similar rule under such act or acts relating to the disposition of securities), or (iii) an opinion of counsel satisfactory to the Corporation that an exemption from registration under Act or Acts is available.

7.    Successors and Assigns.  The rights and obligations of the Corporation under this Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of the Corporation.

8.  Headings; Counterparts; Governing Law.  The headings in this Agreement are for convenience of reference only and are not intended to define or limit the contents of any section or paragraph.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Agreement shall in all respects be governed by the laws (without reference to conflicts of laws principles) of the State of Florida applicable to contracts made and performed within the State of Florida.. The Optionee acknowledges that no assurances or representations are made by the Corporation as to the present or future market value of the shares or as to the business, affairs, financial condition or prospects of the Corporation.

mBeach Software, Inc.

By: /s/ Yossi Biderman

Name: Yossi Biderman

Title:   President

Optionee

Name:/s/ Borris Krasney

 

  

4

  

 

 

MBEACH SOFTWARE, INC.

STOCK OPTION AGREEMENT

This Stock Option Agreement (this “Agreement”) is entered into as of July 13, 2010 by and between mBeach Software, a Florida corporation (the “Corporation”), and Yorkstone Enterprises Ltd. (the “Optionee”).

WHEREAS, the Corporation desires to afford the Optionee an opportunity to purchase shares of the Corporation’s common stock on the terms and provisions set forth herein,

NOW, THEREFORE, in consideration of the premises and mutual covenants set forth below, the parties agree as follows:

1.           Grant of Option.  The Corporation hereby grants to Optionee the right (the “Option”) to purchase up to 8,845,070 shares of common stock of the Corporation at an exercise price per share equal to 25% less than volume weighted average closing price of a share of common stock of the Corporation for the five trading days prior to the exercise hereof.

 

 

2.           Vesting Schedule and Expiration. This Option shall be exercisable on the date hereof and expire on March 31, 2012.  During the exercise period, the Option may be exercised by the Optionee, in whole or in part, from time to time.  The Corporation agrees to maintain during such exercise period a sufficient number of shares (which may be authorized and unissued shares or issued shares that have been reacquired by the Corporation) corresponding to the number of unexercised Options granted to the Optionee.

3.           Restrictions on Transferability of Options.  This Option may not be transferred by the Optionee other than by will or the laws of descent and distribution and may be exercised during the Optionee’s lifetime only by the Optionee or the Optionee’s guardian or legal representative.  A transfer of an Option by will or the laws of descent and distribution shall not be effective unless the Board of Directors of the Corporation shall have been furnished with such evidence as it may deem necessary to establish the validity and effectiveness of the transfer.

4.           Exercise, Payment for and Delivery of Stock. This Option may be exercised by the Optionee or other person then entitled to exercise it by delivery of a written notice to the Secretary of the Corporation together with this Option Agreement specifying the number of Options intended to be exercised and the exercise price and accompanied by payment in full of the exercise price for the number of shares with respect to which the Option is exercised. Payment for shares may be made in cash.  An Optionee may purchase less than the total numbers of shares for which Options are then exercisable, provided, however, that any partial exercise shall not be for less than 100 Shares and shall not include any fractional shares.

               5.            Adjustments. In the event that there is any change in the shares of the Corporation arising through merger, consolidation, reorganization, recapitalization, stock dividend, stock split or combination thereof, the Board of Directors shall make such adjustments in the aggregate number of Options subject to this Agreement and/or the price per share of such Options in order to prevent dilution or enlargement of the Optionee’s rights and of the value represented by the Options.  Upon any adjustment in the number or exercise price of Shares subject to an Option, a new Option may be granted in place of such Option which has been so adjusted.  In the event of a dissolution or liquidation of the Corporation or a merger, consolidation, sale of all or substantially all of the Corporation’s assets, or other corporate reorganization in which the Corporation is not the surviving corporation, or any merger in which the Corporation is the surviving corporation but the holders of Shares receive securities of another corporation, outstanding Options shall terminate, provided that the holder of each Option shall, in such event, if no provision has been made for the substitution of a new option for such outstanding option, have the right immediately prior to such event to exercise the holder’s Options in whole or in part without regard to the date on which the Options otherwise would be first exercisable.

 

 

  

5

  

6.           Compliance with Laws and Regulations.  By accepting this Option, the Optionee represents and agrees for himself and his  transferees by will or the laws of descent and distribution that, unless a registration statement under Securities Act of 1933 is in effect as to shares purchased upon any exercise of this  Option, (a) any and all shares so purchased shall be acquired for his personal account and not with a view to or for sale in connection with distribution, and (b) each notice of exercise of all or any portion of this Option shall, if the Board of Directors so requests, be accompanied by a representation and warranty in writing, signed by the person entitled to exercise the same, that the shares are being so acquired in good faith for his or her personal account and not with a view to or for sale in connection with any distribution.

No certificates for shares purchased upon exercise of this Option shall be issued and delivered unless and until, in the opinion of legal counsel for the Corporation, such securities may be issued and delivered without causing the Corporation to be in violation of or incur any liability under any federal, state or other securities law or any other requirement of law or of any regulatory body having jurisdiction over the Corporation.  Without limiting the generality of the foregoing, the Optionee acknowledges and understands that the shares subject to the Options granted hereunder have not been registered under the Securities Act of 1933, as amended, or under the blue sky or securities laws of any state, that the Corporation has no obligation to so register any of such shares and that, except to the extent the shares are so registered, the shares will be restricted securities and may be sold, transferred or otherwise disposed of only if an exemption from such registration is available.  Unless the shares have been so registered, there shall be noted conspicuously upon each stock certificate representing such shares, the following statement:

The shares of stock represented by this certificate have not been registered under the Securities Act of 1933 (1933 Act) nor under any applicable state securities act and may not be offered or sold except pursuant to (i) an effective registration statement relating to such stock under the 1933 Act and any applicable state securities act, (ii) to the extent applicable, Rule 144 under the 1933 Act (or any similar rule under such act or acts relating to the disposition of securities), or (iii) an opinion of counsel satisfactory to the Corporation that an exemption from registration under Act or Acts is available.

7.    Successors and Assigns.  The rights and obligations of the Corporation under this Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of the Corporation.

8.  Headings; Counterparts; Governing Law.  The headings in this Agreement are for convenience of reference only and are not intended to define or limit the contents of any section or paragraph.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Agreement shall in all respects be governed by the laws (without reference to conflicts of laws principles) of the State of Florida applicable to contracts made and performed within the State of Florida.. The Optionee acknowledges that no assurances or representations are made by the Corporation as to the present or future market value of the shares or as to the business, affairs, financial condition or prospects of the Corporation.

mBeach Software, Inc.

By: /s/ Yossi Biderman

Name: Yossi Biderman

Title:   President

Optionee

Yorkstone Enterprises Ltd.

By: /s/ Yoram Gwach

Name: Yoram Gwach

Title:   Director

 

 

  

6

  

 

MBEACH SOFTWARE, INC.

STOCK OPTION AGREEMENT

This Stock Option Agreement (this “Agreement”) is entered into as of July 13, 2010 by and between mBeach Software, a Florida corporation (the “Corporation”), and Bunim Brimmer (the “Optionee”).

WHEREAS, the Corporation desires to afford the Optionee an opportunity to purchase shares of the Corporation’s common stock on the terms and provisions set forth herein,

NOW, THEREFORE, in consideration of the premises and mutual covenants set forth below, the parties agree as follows:

1.           Grant of Option.  The Corporation hereby grants to Optionee the right (the “Option”) to purchase up to 6,998,082 shares of common stock of the Corporation at an exercise price per share equal to 25% less than volume weighted average closing price of a share of common stock of the Corporation for the five trading days prior to the exercise hereof.

 

 

2.           Vesting Schedule and Expiration. This Option shall be exercisable on the date hereof and expire on March 31, 2012.  During the exercise period, the Option may be exercised by the Optionee, in whole or in part, from time to time.  The Corporation agrees to maintain during such exercise period a sufficient number of shares (which may be authorized and unissued shares or issued shares that have been reacquired by the Corporation) corresponding to the number of unexercised Options granted to the Optionee.

3.           Restrictions on Transferability of Options.  This Option may not be transferred by the Optionee other than by will or the laws of descent and distribution and may be exercised during the Optionee’s lifetime only by the Optionee or the Optionee’s guardian or legal representative.  A transfer of an Option by will or the laws of descent and distribution shall not be effective unless the Board of Directors of the Corporation shall have been furnished with such evidence as it may deem necessary to establish the validity and effectiveness of the transfer.

4.           Exercise, Payment for and Delivery of Stock. This Option may be exercised by the Optionee or other person then entitled to exercise it by delivery of a written notice to the Secretary of the Corporation together with this Option Agreement specifying the number of Options intended to be exercised and the exercise price and accompanied by payment in full of the exercise price for the number of shares with respect to which the Option is exercised. Payment for shares may be made in cash.  An Optionee may purchase less than the total numbers of shares for which Options are then exercisable, provided, however, that any partial exercise shall not be for less than 100 Shares and shall not include any fractional shares.

               5.            Adjustments. In the event that there is any change in the shares of the Corporation arising through merger, consolidation, reorganization, recapitalization, stock dividend, stock split or combination thereof, the Board of Directors shall make such adjustments in the aggregate number of Options subject to this Agreement and/or the price per share of such Options in order to prevent dilution or enlargement of the Optionee’s rights and of the value represented by the Options.  Upon any adjustment in the number or exercise price of Shares subject to an Option, a new Option may be granted in place of such Option which has been so adjusted.  In the event of a dissolution or liquidation of the Corporation or a merger, consolidation, sale of all or substantially all of the Corporation’s assets, or other corporate reorganization in which the Corporation is not the surviving corporation, or any merger in which the Corporation is the surviving corporation but the holders of Shares receive securities of another corporation, outstanding Options shall terminate, provided that the holder of each Option shall, in such event, if no provision has been made for the substitution of a new option for such outstanding option, have the right immediately prior to such event to exercise the holder’s Options in whole or in part without regard to the date on which the Options otherwise would be first exercisable.

 

 

  

7

  

6.           Compliance with Laws and Regulations.  By accepting this Option, the Optionee represents and agrees for himself and his  transferees by will or the laws of descent and distribution that, unless a registration statement under Securities Act of 1933 is in effect as to shares purchased upon any exercise of this  Option, (a) any and all shares so purchased shall be acquired for his personal account and not with a view to or for sale in connection with distribution, and (b) each notice of exercise of all or any portion of this Option shall, if the Board of Directors so requests, be accompanied by a representation and warranty in writing, signed by the person entitled to exercise the same, that the shares are being so acquired in good faith for his or her personal account and not with a view to or for sale in connection with any distribution.

No certificates for shares purchased upon exercise of this Option shall be issued and delivered unless and until, in the opinion of legal counsel for the Corporation, such securities may be issued and delivered without causing the Corporation to be in violation of or incur any liability under any federal, state or other securities law or any other requirement of law or of any regulatory body having jurisdiction over the Corporation.  Without limiting the generality of the foregoing, the Optionee acknowledges and understands that the shares subject to the Options granted hereunder have not been registered under the Securities Act of 1933, as amended, or under the blue sky or securities laws of any state, that the Corporation has no obligation to so register any of such shares and that, except to the extent the shares are so registered, the shares will be restricted securities and may be sold, transferred or otherwise disposed of only if an exemption from such registration is available.  Unless the shares have been so registered, there shall be noted conspicuously upon each stock certificate representing such shares, the following statement:

The shares of stock represented by this certificate have not been registered under the Securities Act of 1933 (1933 Act) nor under any applicable state securities act and may not be offered or sold except pursuant to (i) an effective registration statement relating to such stock under the 1933 Act and any applicable state securities act, (ii) to the extent applicable, Rule 144 under the 1933 Act (or any similar rule under such act or acts relating to the disposition of securities), or (iii) an opinion of counsel satisfactory to the Corporation that an exemption from registration under Act or Acts is available.

7.    Successors and Assigns.  The rights and obligations of the Corporation under this Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of the Corporation.

8.  Headings; Counterparts; Governing Law.  The headings in this Agreement are for convenience of reference only and are not intended to define or limit the contents of any section or paragraph.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Agreement shall in all respects be governed by the laws (without reference to conflicts of laws principles) of the State of Florida applicable to contracts made and performed within the State of Florida.. The Optionee acknowledges that no assurances or representations are made by the Corporation as to the present or future market value of the shares or as to the business, affairs, financial condition or prospects of the Corporation.

mBeach Software, Inc.

By: /s/ Yossi Biderman

Name: Yossi Biderman

Title:   President

Optionee

Name:/s/ Bunim Brimmer

 

  

8

  

MBEACH SOFTWARE, INC.

STOCK OPTION AGREEMENT

This Stock Option Agreement (this “Agreement”) is entered into as of July 13, 2010 by and between mBeach Software, a Florida corporation (the “Corporation”), and Sharon Brimmer (the “Optionee”).

WHEREAS, the Corporation desires to afford the Optionee an opportunity to purchase shares of the Corporation’s common stock on the terms and provisions set forth herein,

NOW, THEREFORE, in consideration of the premises and mutual covenants set forth below, the parties agree as follows:

1.           Grant of Option.  The Corporation hereby grants to Optionee the right (the “Option”) to purchase up to 1,999,452 shares of common stock of the Corporation at an exercise price per share equal to 25% less than volume weighted average closing price of a share of common stock of the Corporation for the five trading days prior to the exercise hereof.

 

 

2.           Vesting Schedule and Expiration. This Option shall be exercisable on the date hereof and expire on March 31, 2012.  During the exercise period, the Option may be exercised by the Optionee, in whole or in part, from time to time.  The Corporation agrees to maintain during such exercise period a sufficient number of shares (which may be authorized and unissued shares or issued shares that have been reacquired by the Corporation) corresponding to the number of unexercised Options granted to the Optionee.

3.           Restrictions on Transferability of Options.  This Option may not be transferred by the Optionee other than by will or the laws of descent and distribution and may be exercised during the Optionee’s lifetime only by the Optionee or the Optionee’s guardian or legal representative.  A transfer of an Option by will or the laws of descent and distribution shall not be effective unless the Board of Directors of the Corporation shall have been furnished with such evidence as it may deem necessary to establish the validity and effectiveness of the transfer.

4.           Exercise, Payment for and Delivery of Stock. This Option may be exercised by the Optionee or other person then entitled to exercise it by delivery of a written notice to the Secretary of the Corporation together with this Option Agreement specifying the number of Options intended to be exercised and the exercise price and accompanied by payment in full of the exercise price for the number of shares with respect to which the Option is exercised. Payment for shares may be made in cash.  An Optionee may purchase less than the total numbers of shares for which Options are then exercisable, provided, however, that any partial exercise shall not be for less than 100 Shares and shall not include any fractional shares.

               5.            Adjustments. In the event that there is any change in the shares of the Corporation arising through merger, consolidation, reorganization, recapitalization, stock dividend, stock split or combination thereof, the Board of Directors shall make such adjustments in the aggregate number of Options subject to this Agreement and/or the price per share of such Options in order to prevent dilution or enlargement of the Optionee’s rights and of the value represented by the Options.  Upon any adjustment in the number or exercise price of Shares subject to an Option, a new Option may be granted in place of such Option which has been so adjusted.  In the event of a dissolution or liquidation of the Corporation or a merger, consolidation, sale of all or substantially all of the Corporation’s assets, or other corporate reorganization in which the Corporation is not the surviving corporation, or any merger in which the Corporation is the surviving corporation but the holders of Shares receive securities of another corporation, outstanding Options shall terminate, provided that the holder of each Option shall, in such event, if no provision has been made for the substitution of a new option for such outstanding option, have the right immediately prior to such event to exercise the holder’s Options in whole or in part without regard to the date on which the Options otherwise would be first exercisable.

 

 

  

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6.           Compliance with Laws and Regulations.  By accepting this Option, the Optionee represents and agrees for himself and his  transferees by will or the laws of descent and distribution that, unless a registration statement under Securities Act of 1933 is in effect as to shares purchased upon any exercise of this  Option, (a) any and all shares so purchased shall be acquired for his personal account and not with a view to or for sale in connection with distribution, and (b) each notice of exercise of all or any portion of this Option shall, if the Board of Directors so requests, be accompanied by a representation and warranty in writing, signed by the person entitled to exercise the same, that the shares are being so acquired in good faith for his or her personal account and not with a view to or for sale in connection with any distribution.

No certificates for shares purchased upon exercise of this Option shall be issued and delivered unless and until, in the opinion of legal counsel for the Corporation, such securities may be issued and delivered without causing the Corporation to be in violation of or incur any liability under any federal, state or other securities law or any other requirement of law or of any regulatory body having jurisdiction over the Corporation.  Without limiting the generality of the foregoing, the Optionee acknowledges and understands that the shares subject to the Options granted hereunder have not been registered under the Securities Act of 1933, as amended, or under the blue sky or securities laws of any state, that the Corporation has no obligation to so register any of such shares and that, except to the extent the shares are so registered, the shares will be restricted securities and may be sold, transferred or otherwise disposed of only if an exemption from such registration is available.  Unless the shares have been so registered, there shall be noted conspicuously upon each stock certificate representing such shares, the following statement:

The shares of stock represented by this certificate have not been registered under the Securities Act of 1933 (1933 Act) nor under any applicable state securities act and may not be offered or sold except pursuant to (i) an effective registration statement relating to such stock under the 1933 Act and any applicable state securities act, (ii) to the extent applicable, Rule 144 under the 1933 Act (or any similar rule under such act or acts relating to the disposition of securities), or (iii) an opinion of counsel satisfactory to the Corporation that an exemption from registration under Act or Acts is available.

7.    Successors and Assigns.  The rights and obligations of the Corporation under this Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of the Corporation.

8.  Headings; Counterparts; Governing Law.  The headings in this Agreement are for convenience of reference only and are not intended to define or limit the contents of any section or paragraph.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Agreement shall in all respects be governed by the laws (without reference to conflicts of laws principles) of the State of Florida applicable to contracts made and performed within the State of Florida.. The Optionee acknowledges that no assurances or representations are made by the Corporation as to the present or future market value of the shares or as to the business, affairs, financial condition or prospects of the Corporation.

mBeach Software, Inc.

By: /s/ Yossi Biderman

Name: Yossi Biderman

Title:   President

Optionee

Name:/s/ Sharon Brimmer

 

  

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MBEACH SOFTWARE, INC.

STOCK OPTION AGREEMENT

This Stock Option Agreement (this “Agreement”) is entered into as of July 13, 2010 by and between mBeach Software, a Florida corporation (the “Corporation”), and Inbar Brimmer (the “Optionee”).

WHEREAS, the Corporation desires to afford the Optionee an opportunity to purchase shares of the Corporation’s common stock on the terms and provisions set forth herein,

NOW, THEREFORE, in consideration of the premises and mutual covenants set forth below, the parties agree as follows:

1.           Grant of Option.  The Corporation hereby grants to Optionee the right (the “Option”) to purchase up to 999,726 shares of common stock of the Corporation at an exercise price per share equal to 25% less than volume weighted average closing price of a share of common stock of the Corporation for the five trading days prior to the exercise hereof.

 

 

2.           Vesting Schedule and Expiration. This Option shall be exercisable on the date hereof and expire on March 31, 2012.  During the exercise period, the Option may be exercised by the Optionee, in whole or in part, from time to time.  The Corporation agrees to maintain during such exercise period a sufficient number of shares (which may be authorized and unissued shares or issued shares that have been reacquired by the Corporation) corresponding to the number of unexercised Options granted to the Optionee.

3.           Restrictions on Transferability of Options.  This Option may not be transferred by the Optionee other than by will or the laws of descent and distribution and may be exercised during the Optionee’s lifetime only by the Optionee or the Optionee’s guardian or legal representative.  A transfer of an Option by will or the laws of descent and distribution shall not be effective unless the Board of Directors of the Corporation shall have been furnished with such evidence as it may deem necessary to establish the validity and effectiveness of the transfer.

4.           Exercise, Payment for and Delivery of Stock. This Option may be exercised by the Optionee or other person then entitled to exercise it by delivery of a written notice to the Secretary of the Corporation together with this Option Agreement specifying the number of Options intended to be exercised and the exercise price and accompanied by payment in full of the exercise price for the number of shares with respect to which the Option is exercised. Payment for shares may be made in cash.  An Optionee may purchase less than the total numbers of shares for which Options are then exercisable, provided, however, that any partial exercise shall not be for less than 100 Shares and shall not include any fractional shares.

               5.            Adjustments. In the event that there is any change in the shares of the Corporation arising through merger, consolidation, reorganization, recapitalization, stock dividend, stock split or combination thereof, the Board of Directors shall make such adjustments in the aggregate number of Options subject to this Agreement and/or the price per share of such Options in order to prevent dilution or enlargement of the Optionee’s rights and of the value represented by the Options.  Upon any adjustment in the number or exercise price of Shares subject to an Option, a new Option may be granted in place of such Option which has been so adjusted.  In the event of a dissolution or liquidation of the Corporation or a merger, consolidation, sale of all or substantially all of the Corporation’s assets, or other corporate reorganization in which the Corporation is not the surviving corporation, or any merger in which the Corporation is the surviving corporation but the holders of Shares receive securities of another corporation, outstanding Options shall terminate, provided that the holder of each Option shall, in such event, if no provision has been made for the substitution of a new option for such outstanding option, have the right immediately prior to such event to exercise the holder’s Options in whole or in part without regard to the date on which the Options otherwise would be first exercisable.

 

 

  

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6.           Compliance with Laws and Regulations.  By accepting this Option, the Optionee represents and agrees for himself and his  transferees by will or the laws of descent and distribution that, unless a registration statement under Securities Act of 1933 is in effect as to shares purchased upon any exercise of this  Option, (a) any and all shares so purchased shall be acquired for his personal account and not with a view to or for sale in connection with distribution, and (b) each notice of exercise of all or any portion of this Option shall, if the Board of Directors so requests, be accompanied by a representation and warranty in writing, signed by the person entitled to exercise the same, that the shares are being so acquired in good faith for his or her personal account and not with a view to or for sale in connection with any distribution.

No certificates for shares purchased upon exercise of this Option shall be issued and delivered unless and until, in the opinion of legal counsel for the Corporation, such securities may be issued and delivered without causing the Corporation to be in violation of or incur any liability under any federal, state or other securities law or any other requirement of law or of any regulatory body having jurisdiction over the Corporation.  Without limiting the generality of the foregoing, the Optionee acknowledges and understands that the shares subject to the Options granted hereunder have not been registered under the Securities Act of 1933, as amended, or under the blue sky or securities laws of any state, that the Corporation has no obligation to so register any of such shares and that, except to the extent the shares are so registered, the shares will be restricted securities and may be sold, transferred or otherwise disposed of only if an exemption from such registration is available.  Unless the shares have been so registered, there shall be noted conspicuously upon each stock certificate representing such shares, the following statement:

The shares of stock represented by this certificate have not been registered under the Securities Act of 1933 (1933 Act) nor under any applicable state securities act and may not be offered or sold except pursuant to (i) an effective registration statement relating to such stock under the 1933 Act and any applicable state securities act, (ii) to the extent applicable, Rule 144 under the 1933 Act (or any similar rule under such act or acts relating to the disposition of securities), or (iii) an opinion of counsel satisfactory to the Corporation that an exemption from registration under Act or Acts is available.

7.    Successors and Assigns.  The rights and obligations of the Corporation under this Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of the Corporation.

8.  Headings; Counterparts; Governing Law.  The headings in this Agreement are for convenience of reference only and are not intended to define or limit the contents of any section or paragraph.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Agreement shall in all respects be governed by the laws (without reference to conflicts of laws principles) of the State of Florida applicable to contracts made and performed within the State of Florida.. The Optionee acknowledges that no assurances or representations are made by the Corporation as to the present or future market value of the shares or as to the business, affairs, financial condition or prospects of the Corporation.

mBeach Software, Inc.

By: /s/ Yossi Biderman

Name: Yossi Biderman

Title:   President

Optionee

Name:/s/ Inbar Brimmer

 

 

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